Author: NBTC
Crypto and stock markets alike saw a jump Wednesday morning following a report that Tesla and SpaceX CEO Elon Musk will depart his current role as a close ally to President Donald Trump. Bitcoin rapidly spiked to $87,300 for the first time since March 27, while major stock market indices like the S&P 500 and Nasdaq both bounced into the green for the day following the publication of Politico’s report, which cites three sources close to Trump who asked not to be named. Tesla (TSLA)—one of the world’s biggest publicly traded Bitcoin reserve holders—saw a surge following the report, rebounding…
The United Arab Emirates (UAE) government and cryptocurrency project Shiba Inu have partnered to promote Web3 innovation and growth in the country. In an announcement shared with crypto news, Shiba Inu (SHIB) stated that the collaboration involves the UAE’s Ministry of Energy and Infrastructure. It marks the first major partnership between a UAE government entity and a crypto project. As part of this collaboration, the MoEI and Shiba Inu have signed a memorandum of understanding under which the MoEI will leverage Shiba Inu’s platform to integrate Web3 solutions into key sectors such as energy and infrastructure. The Shiba Inu team…
Vanuatu has become the latest country with a proper legal framework for cryptocurrencies, as its Parliament last week passed the Virtual Asset Service Provider (VASP) Act. Now, virtual assets are defined in the country as “digital representations of value that may be traded and function as a medium of exchange, a unit of account, or a store of value.” However, the legislation does not cover digital representations of fiat currencies, securities, and national digital currencies, including central bank digital currencies (CBDCs). The announcement further highlighted that despite the regulations, cryptocurrencies are not legal tender in the country. “The VFSC, however,…
MARA Holdings reported an increase in Bitcoin mining activity for March, producing 829 BTC and winning 242 blocks, a 17% rise from February. This marks the company’s third-highest monthly block count, according to a company note. The increase comes as global mining difficulty continues to climb, underscoring MARA’s ability to maintain competitive efficiency. The company averaged 26.8 Bitcoin (BTC) per day in March, up from 25.2 BTC in February, and its share of available miner rewards grew to 5.8%. MARA’s total Bitcoin holdings reached 47,531 BTC by the end of the month, including loaned and collateralized assets. In March, MARA…
The rally in bitcoin (BTC) and crypto from the weekend’s tariff-induced panic has proven to be a short-lived one. Late in the U.S. trading day, bitcoin was down 4.8% over the past 24 hours to $96,900 after having climbed up to the $101,000 level just two hours earlier. Much of the altcoin sector fared worse, with solana (SOL), (XRP), cardano (ADA) and chainlink (LINK) sporting declines of 6%-10%. Ether (ETH) was lower by 5.3%. The start of today’s late tumble appeared to coincide with a crypto-related press conference held by White House crypto and AI czar David Sacks alongside the…
The long-awaited April 2nd US Independence Day has arrived. US President Donald Trump is expected to announce bilateral tariffs for global trade. According to Trump’s plan, the US will impose reciprocal customs duties on every country in the world that imposes customs duties on the US, without exception, and it will be announced today. White House spokeswoman Karoline Leavitt said in a press conference that the tariffs would go into effect immediately after they were announced, adding, “April 2, 2025 will go down in history as one of the most important days in modern American history.” Trump’s speech, which has…
The federally regulated derivatives exchange Kalshi, has filed a lawsuit against Nevada gaming regulators in a bid to continue offering sports and political event contracts, setting the stage for a showdown between state and federal oversight of betting activities. This comes shortly after the U.S. Commodity Futures Trading Commission (CFTC) took an interest in Crypto.com for offering Kalshi’s event-based contracts that allowed betting on the outcome of the Super Bowl. Due to this, Robinhood had withdrawn from similar offering just a day after listing. The lawsuit, filed Friday in the U.S. District Court in Las Vegas, comes after Nevada authorities…
Shares of the top publicly traded Bitcoin mining companies plunged on Thursday a day after U.S. President Donald Trump rattled markets by imposing global tariffs. American miners, including Hive Digital, CleanSpark, Riot Platforms, and BitDeer were all trading between 6-8% lower on Thursday morning New York time. Other U.S. Bitcoin miners such as Core Scientific and MARA dropped by more than 11% and 8%, respectively. The dip in prices comes after crypto-friendly Trump said he would impose a 10% baseline tariff on all imports to the U.S. and higher duties on some of the country’s biggest trading partners, including a…
Cryptocurrency analytics firm MakroVision has assessed Bitcoin’s price action following its recent rally, identifying key resistance and support levels that could determine its next trend. After a significant sell-off, Bitcoin has recovered strongly and is currently trading around $99,000. However, key resistance levels that could influence further price action remain in focus. MakroVision notes that the $102,000 level represents a short-term barrier and is just above a key liquidity zone that needs to be breached for further upside. The firm also notes that a breakout of the descending red trendline would activate a decisive breakout target at $106,500, which is…
Circle wants to IPO, and its S1 filing details the staggering difference between the regulated, US-based stablecoin issuer and its offshore competitor, Tether. Despite their relatively similar sizes, the financials of the world’s two largest stablecoin issuers are miles apart.As of December 31, 2024, there were 137.4 billion circulating USDT and 43.9 billion circulating USDC. Despite USDC’s market capitalization being approximately one-third of USDT, their profitability diverges massively. Specifically, Tether reported a gross profit of $13 billion that year, while Circle reported just $156 million in net income. Specifically, Tether reported a gross profit of $13 billion that year, while…