Author: NBTC
Pan-African crypto exchange Mara reportedly lost approximately $16 million out of the $23 million raised from investors. Following the exchange’s collapse, founder and CEO Chinyere Nnadi is said to have launched a new entity called Jara. Nnadi reportedly argued that the exchange depleted its raised capital by paying high salaries to attract talent. CEO Avoids Mara’s Liabilities In 2022, the now-defunct Pan African crypto exchange, Mara, reportedly burned nearly $16 million from the $23 million it raised from investors. According to a Techcabal report, as much as $9.1 million of this amount was used to pay employee salaries, bonuses, and…
BTC climbed to its highest price since April 24, while Solana’s SOL and NEAR led crypto gains. Bitcoin could target the $84,000 level with altcoins performing well, Swissblock said. Crypto markets rallied with Wednesday’s as softer-than-expected U.S. inflation data jolted digital assets from their stupor. Bitcoin (BTC) surged past $66,000 for the first time since April 24, and was recently up more than 7% over the past 24 hours. Ether (ETH) changed hands near $3,000 but underperformed with a 4% advance during the same period. Solana (SOL) and near (NEAR) led gains among crypto majors with 8% and 12% jumps,…
NeoSPCC has released significant updates for three core NeoFS components. The updates center on enhancing functionality, improving compatibility with the latest Neo N3 Cockatrice hardfork, and streamlining the developer experience. NeoFS node v0.42.0 This update introduces new storage list commands to the neofs-lens tool, making it easier for developers to manage and navigate storage resources. Enhancements also include improved status messaging from the SN API Server and a fix for the GETRANGE request issue, ensuring more reliable data retrieval. Additionally, by moving IR contracts deployment code to the contracts repository and updating dependencies, the update simplifies maintenance and future development.…
Main Takeaways In a United States federal court ruling, Judge Amy Berman Jackson dismissed several key claims by the Securities and Exchange Commission (SEC), including the assertion that crypto tokens themselves are securities. The court ruled that the SEC failed to allege facts indicating that secondary market sales of BNB tokens on crypto exchanges were securities transactions. The court also rejected the SEC’s argument that Binance’s fiat-backed stablecoin, BUSD, classifies as an investment contract. While some of the SEC’s claims were dismissed, the court allowed certain claims to proceed at this point. However, we expect the SEC will face significant…
BitMEX, one of the largest digital asset exchanges, has rolled out a meme coin basket index. The new product will make it possible to gain exposure to the top 10 most prominent meme cryptocurrencies by market capitalization, including Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), and dogwifhat (WIF). It has been advertized by BitMEX as “S&P500 for crypto meme coins.” The new contract is margined in the flagship Tether (USDT) stablecoin, offering up to 25X leverage. The index was designed based on the market share of the leading meme coin. DOGE, SHIB, and PEPE collectively account for 60% of the…
The United Nations Development Programme (UNDP) is pleased to announce a new partnership with the DFINITY Foundation, which will leverage the Internet Computer Blockchain technology to further develop and implement the Universal Trusted Credentials (UTC) initiative. This collaboration underscores a significant step towards enhancing digital trust and financial inclusion for Micro, Small, and Medium Enterprises (MSMEs) globally. This framework – the Universal Trusted Credentials (UTC) launched in collaboration with the Monetary Authority of Singapore (MAS) and other strategic partners,– when implemented in several countries, will not only enhance domestic access to financing for MSMEs but also unlock access to trade…
More big names have revealed allocations into the spot bitcoin exchange-traded funds. Wednesday marked the deadline for institutional investors to file their quarterly 13F report with the U.S. Securities and Exchange Commission, revealing positions held as of March 31, 2024. After Tuesday’s surprising disclosure of a $161 million allocation from the State of WIsconsin, more investment whales turned out to have been part of the unprecedented success of the ETFs. Hedge fund Millennium Management, with more than $64 billion in assets under management, held roughly $2 billion across a number of the spot bitcoin ETFs, according to its filing. The…
Ripple CEO Brad Garlinghosue, who has made critical comments about Dogecoin before, made new statements about DOGE. Speaking at the Consensus 2024 conference, Garlinghouse said that Dogecoin, the largest memecoin, has no practical use and does not help the cryptocurrency industry. Despite its significant market cap of $23.22 billion, Garlinghouse stated that DOGE has no real value but only encourages and thrives on speculation in the crypto sector. Stating that there is no regulatory clarity for crypto in the USA at this point, Ripple CEO said that the way forward for crypto should focus on solving real problems: “We have…
Dan Gallagher is the proposed next Chair of the US Securities and Exchange Commission (SEC) in a prospective Donald Trump administration. The former agency commission welcomed his selection. The shared sentiment is that with a Republican in office, crypto would enjoy a more favorable regulatory environment, with key commission members calling it out for problematic laws. Crypto Investors Want Dan Gallagher for SEC Chair Gallagher served as SEC commissioner during the tenure of former US President Barack Obama. Welcoming his selection, Gallagher said he would promote access to the markets while ensuring the US remains at the forefront of financial…
UK-based fintech company Gold-i and crypto liquidity provider Cypator have announced a new partnership aimed at improving cryptocurrency liquidity access for retail brokers. The collaboration integrates Cypator’s crypto liquidity pools with Gold-i’s MatrixNET liquidity management platform. This integration is designed to provide retail brokers using Gold-i’s MatrixNET with access to Cypator’s cryptocurrency liquidity and execution services. The partnership aims to address challenges in the crypto trading market, such as liquidity depth and execution speed for retail clients. According to the companies, the integration will allow brokers to offer their clients access to a wider range of cryptocurrencies. It may also…