Author: NBTC

Sunil Kavuri, the FTX creditor activist, today announced that some jurisdictions were not eligible for FTX claim distributions via custodial exchanges due to restrictions in those countries. Kavuri pointed out that the FTX bankruptcy trustee was currently seeking ways to delegate claim repayments in each jurisdiction, including Russia, China, Nigeria, Ukraine, and Egypt. Kavuri shared a detailed ‘FTX global customer distribution’ pie chart from the November 2022 bankruptcy hearing that identified China as the largest jurisdiction not qualified for FTX claim distributions with about 8% of the global customer base. On January 17th, Kavuri claimed that FTX creditors from countries…

As 2024 winds up, the largest cryptocurrency, Bitcoin (BTC), plunged below $92,000 with a 2.67% drop as the fear of hyper-liquidation rumors sparked in the community. At the time of writing, BTC is trading around $91,814, according to the CoinMarketCap. Some crypto analysts speculated a further drop in the cryptocurrency, saying it could slip below $91,000 due to a huge dump linked to its negative correlation with the USDT Dominance Index. Amid the dip in BTC’s price, MicroStrategy’s CEO, Michael Saylor, announced the acquisition of 2,138 BTC for approximately $209 million at $97,837 per Bitcoin, accumulating 446,400 Bitcoins in total.…

Wave, an AI-powered Web3 trading platform, has announced its strategic collaboration with the KLK Foundation. This partnership aimed to push the boundaries of financial services of Web3, improving AI-powered trading while enhancing DeFi accessibility. This advanced step strives to set the stage for a more efficient and inclusive digital economy. Wave x KLK ⚡️We’re excited to announce our partnership with @KLK_Foundation.Klickl, a leading Web3 financial platform, is dedicated to providing open and accessible financial services worldwide through technological innovation and regulatory compliance.This collaboration… pic.twitter.com/ybGshpNQJu — Wave 🌊 (@WaveOnSui) February 21, 2025 KLK Foundation, a leading Web3 platform providing financial services,…

Injective, a prominent blockchain platform that back DeFi applications, has announced the governance proposal for the release of INJ 3.0’s initial phase. The INJ 3.0 proposal targets to make $INJ one of the prominent deflationary assets operating within the crypto market. The platform took to social media to provide the details of the new governance proposal. We are kicking off 2025 with a bang!The official gov proposal is now live to initiate the first yearly phase of INJ 3.0 which aims to dramatically reduce the token supply of $INJThis sets the stage for INJ to become one of the most…

Centralized cryptocurrency exchange Bybit is struggling to keep up with withdrawals following a hack that saw over $1.4 billion worth of Ethereum and related assets swiped early Friday. In a livestream following the incident, Bybit co-founder and CEO Ben Zhou said that the firm has “experienced massive withdrawals in the last two hours.” However, he added that there are thousands of pending withdrawals that the firm is still working through because it needs to move liquidity around. Zhou told viewers that it would work through pending withdrawal requests within “a few hours,” and that the firm had no plans to…

NYDIG, Stone Ridge’s subsidiary that offers Bitcoin-backed loans, is preparing to expand its offering through float financing, according to the firm’s 2024 investor letter. The letter rebuts common objections to Bitcoin’s (BTC) utility, suggesting that it can generate cash flow through sales and serve as collateral for fiat loans. Float is a key concept in insurance and asset management. It represents investable capital derived from premium payments or reserves. Stone Ridge’s Longtail Re has experience deploying billions of dollars in asset-backed loans, albeit none backed by Bitcoin. Warren Buffett’s Berkshire Hathaway is notoriously known for using its float as leverage.…

Solana continues to dominate the altcoin season and after SOL rebounded to $210, other Solana-based AI cryptos, including ZAILGO and BUZZ, also hit record highs. SOL Rebounds, AI cryptos ZAILGO, BUZZ Follow the Ride! In the early hours, Solana rebounded to $210 and is currently quoted at $207.39, marking a 24-hour increase of 1%. The year 2024 proved to be a period of remarkable growth for the Solana ecosystem. Over the past year, SOL saw an impressive rally of 88.95%. This growth is largely attributed to several memecoins consistently gaining traction on social media and offering opportunities for profit-making. As…

Crypto exchange ByBit says everyone is affected by the suspected hack of one of its cold wallets leading to the theft of almost $1.4 billion in Ethereum. During a live stream X platform, ByBit’s head of derivatives and Institutions, Shunyet Jan, precisely said “to be honest right now, everyone is affected.” JUST IN: Bybit when asked how many users are affected by the $1.4 billion hack “To be honest, right now, everyone is affected.” pic.twitter.com/rwkJTcGnsz — Watcher.Guru (@WatcherGuru) February 21, 2025 It’s not exactly clear how everyone is affected by the incident, given that only Bybit’s ETH cold wallet was…

The co-founders of the blockchain analysis platform Glassnode are laying out how Bitcoin (BTC) can reclaim six figures and more. Glassnode and Swissblock co-founders Jan Happel and Yann Alleman, who share the social media handle Negentropic, start by comparing BTC’s current situation to a similar scenario from a few years back. “Let’s look at the period from December 2020 to February 2021, which corresponds to a similar cycle phase and comparable price action. At that time, the outflow of liquidity coincided with a price correction, but network growth persisted. Likewise, when the price stabilized and a new influx of liquidity…

Dogecoin (DOGE) whales have actively conducted massive DOGE transactions in the past 24 hours. Their activity has resonated in the market, triggering a price rebound for the meme coin. This development has stirred the interest of investors in the ecosystem as they strategize to benefit from the price resurgence. Whale transactions signal optimism for DOGE Notably, data from IntoTheBlock reveals that transactions worth more than $100,000 recorded within the DOGE ecosystem are valued at over $23 billion. This includes inter-wallet transfers, outright sales and movement between exchanges. This suggests that DOGE whales might think a possible future price movement is…