Author: NBTC

The Base Blockchain’s ecosystem is seeing strong growth, helped by the strong performance of its decentralised finance (DeFi) and meme coins. The network has continued climbing the DeFi ecosystem ladder, becoming the seventh-biggest player in the industry. It has over $1.7 billion in total value locked (TVL), making it the 7th biggest chain after Ethereum, Solana, Tron, Binance Chain, Arbitrum, and Blast. Like Solana, a popular name in the meme coin industry, Base Blockchain has attracted several meme coins. Brett, the biggest meme coin in Base, has attained a market cap of almost $1 billion. This is a remarkable amount…

A recent court filing in the case against Samourai Wallet founders Keonne Rordiguez and William Lonergan Hill (aka TDev) reveals that the U.S. Government has agreed to release Hill on bail. According to the filing, Hill is set to make his initial court appearance in the Southern District of New York on July 9 or 10, 2024, following his extradition from Portugal. The filing states that both parties have agreed to Hill’s release on bail, with his defense team requesting that he be released to his home in Lisbon, Portugal, pending trial. However, the U.S. government opposes this, suggesting that…

Crypto as a whole is, I think, at something of an inflection point. With the recent “bull run” either on hold or cut short with prices below 2021 highs, the mounting crypto-speculative mania of the past decade seems to have settled down. That puts a premium on products that deliver, instead of just making big promises. That includes blockchain-backed gaming, which has been on the horizon since the announcement of Ethereum, and which I’m happy to report is actually becoming a Real Thing. In the past, “blockchain games” have often been hasty cash-ins designed to entice speculators rather than players.…

Ripple moves a combined volume of 3 billion XRP, representing 5.4% of the circulating supply, across eight transactions in 30 minutes. The transactions, tracked by crypto monitoring resource Whale Alert, pertained to the American payment company’s routine escrow executions and creations. Notably, in addition to this month’s escrow release, Ripple carried out an additional six significant transfers, which have garnered attention. Prominent crypto commentator Marty Party called attention to the fund flow, which amounted to over $1.5 billion. XRP Whale trades: Starting 1 hour ago (5.4% of $XRP circulating supply moved): – 2:30pm 200,000 $XRP– 2:34pm 300,000 $XRP– 2:38pm 500,000…

Following over 44,000 comments to the IRS on the proposed rules around 1099 reporting for crypto exchanges that have now been (partially) codified into comprehensive tax policy, effective for transactions beginning January 1, 2025, crypto investors and traders might be left with questions about what these rules are. Especially considering that the content, enforcement, and timing of the multiple crypto tax changes has been hotly debated for several years at this point, it is worth taking a look at what is in the final (for now) version of these changes. As opposed to previous years where the IRS was the…

A recent SEC filing revealed that Bracebridge Capital has invested $363 million in spot Bitcoin exchange-traded funds (ETFs). This Boston-based hedge fund has hefty stakes in the Ark 21Shares Bitcoin ETF (ARKB), Grayscale Bitcoin Trust ETF (GBTC), and BlackRock’s iShares Bitcoin Trust (IBIT). This move highlights the growing institutional interest in cryptocurrency. Institutional Investments in Bitcoin ETFs Surge Amid Heavy Outflows Bloomberg Intelligence data reveals Bracebridge Capital holds $262 million in ARKB, $81 million in IBIT, and $20 million in GBTC. The data further shows that Bracebridge Capital is the biggest holder of ARKB. This is particularly noteworthy given that…

XRP, one of the biggest cryptocurrencies, has celebrated its 12th birthday on June 2. On that day in 2012, Ripple Labs co-founder Arthur Britto submitted the lines code that had created 100 billion XRP tokens. It is worth noting that the earliest days of the XRP Ledger have been lost forever due to a critical bug. Hence, the XRP Ledger can be traced back only to December 2012 instead of its actual birthday. “We were still madly squashing bugs as these were early days. We reset the Ledger seq multiple times (for binary format changes) and transaction history was erased,”…

Messari CEO Ryan Selkis has issued a strongly-worded critique of the U.S. Securities and Exchange Commission (SEC), labeling its current leadership as corrupt and inefficient. Selkis’s extensive letter outlines his severe disapproval of the SEC, questioning its effectiveness and relevance in the modern technological landscape. His statements are a culmination of Messari’s contentious legal battle with the regulatory body. Contents hide 1 Why is the SEC Under Fire? 2 What Led to This Decision? 3 Key Inferences from Selkis’s Argument 4 What’s Next? Why is the SEC Under Fire? Selkis accuses the SEC of prioritizing its interests over its duty…

VanEck’s spot Bitcoin exchange-traded fund (ETF) experienced significant growth in the first quarter of 2024. According to VanEck Bitcoin Trust’s recent filing with the Securities and Exchange Commission (SEC), the HODL Bitcoin ETF saw an increase of $109 million in net asset for the first fiscal quarter of 2024, which concluded on March 31. Bitcoin ETF’s Gains and Ethereum ETF’s Anticipated Rejection The filing also indicated that HODL held 8,711 BTC, costing $515 million and valued at $619 million. The ETF also reported liabilities of $20 million and a net realized gain of $6 million. Additionally, the fund had 8.2…

Democrat Ro Khanna is hosting an exclusive crypto-focused roundtable in Washington this Wednesday, Fox Business journalist Eleanor Terrett reiterated in a recent post. The event will feature several prominent figures, including billionaire entrepreneur Mark Cuban, Ripple CEO Brad Garlinghouse, and SkyBridge Capital founder Anthony Scaramucci, Terrett reported in a separate post. Cuban is a vocal advocate for crypto and the crypto industry. He believes clear crypto regulations from Congress before the 2024 US presidential election could help secure another term for President Biden, as crypto voters will be an influential factor. The billionaire has criticized the SEC’s current enforcement approach…