Author: NBTC

US Representative Alexandria Ocasio-Cortez (AOC) has sparked controversy within the crypto community by labeling digital assets as a special interest group. In response, Gemini co-founder Tyler Winklevoss criticized AOC’s remarks, suggesting that her political consultants overlooked crucial data about the widespread adoption of cryptocurrency within the U.S. Politicians like AOC believe that crypto is a special interest group. They should fire their political consultants because they obviously didn’t give them the data. Crypto is owned by at least 50 million Americans. This means that it is a general interest group. Anti-crypto… — Tyler Winklevoss (@tyler) July 22, 2024 With over…

Canaccord raised its Iris Energy share-price target to $15 from $12. The bitcoin miner has ample power supplies and high-performance computing options, the report said. Iris can monetize the infrastructure it is building for bitcoin mining, cloud computing and AI colocation, the broker said. Iris Energy (IREN) is positioned to become the most efficient and one of the biggest publicly listed bitcoin {{BTC}} miners, with options in high-performance computing (HPC) as it starts its pilot in Childress, Texas in the second half of the year, broker Canaccord said in a research report on Tuesday. As the Sydney-based company scales its…

The Bitcoin market remains dynamic and the recent analysis from Glassnode brings fresh insights into its market movements. As investors and traders seek to decode Bitcoin’s future, technical indicators like the Mayer Multiple have become invaluable. Glassnode’s report sheds light on the Mayer Multiple, a metric analyzing the relationship between Bitcoin’s current price and its 200-day moving average (DMA). Currently, the 200DMA stands at a pivotal $58,000, aligning closely with several on-chain price models. This alignment suggests a critical juncture, providing either a springboard for bullish momentum or a warning track for bearish downturns. As the digital currency space continues…

Coinbase is the asset holder of eight out of nine ETH ETFs and ten out of eleven spot Bitcoin ETFs. Though Gabor Gurbacs, the strategic advisor for Tether, raises serious concerns about the risk management and judgment of fund issuers, the Coinbases security team is unquestionably top-notch. Boards and risk management committees that find it appropriate to place so many of the assets of ETFs in the hands of one company raises concerns about their judgment. The inherent risk of giving one custodian control over practically all assets on the ETF market is the basis of Gurbacs’ criticism. Given that…

Lumx launched a $250,000 fund to boost blockchain development on the Polygon network. The fund supports blockchain operations like smart contract development and NFT generation. Web3 startup Lumx has introduced a $250,000 fund to drive on-chain development on the Polygon network in Latin America. The LATAM Acceleration Fund helps advance the use of blockchain technology and provides grants to companies that are developing applications with Lumx’s APIs on any Polygon network. The fund will support different blockchain operations such as user interactions with smart accounts, smart contract development, and NFT generation. Furthermore, it offers free access to Web3 products to…

Ethereum scaling solution Polygon (MATIC) has recently seen a substantial increase in large transaction volume, which is indicative of whale activity. According to IntoTheBlock, Polygon (MATIC) is reporting $152.75 million in large transaction volume in the last 24 hours, representing a 745.3% surge. This large transaction volume surge coincides with the excitement surrounding the launch of Ethereum ETFs in the United States, a key milestone for the cryptocurrency community. Ethereum exchange-traded funds began trading in the United States on Tuesday, putting the world’s second-largest cryptocurrency in a vehicle popular with many professional investors and advisors. U.S. exchange-traded funds that invested…

The Federal Trade Commission (FTC) has initiated an inquiry into the surveillance pricing methods utilized by financial giants such as Mastercard and Chase. This examination aims to uncover the extent to which these practices might exploit consumer data for unfair pricing strategies. As the FTC delves into these practices, several critical questions arise about the balance between technological innovation and consumer rights. How Do Companies Use Surveillance Pricing? Surveillance pricing involves collecting and analyzing vast amounts of consumer data to set prices dynamically. Companies like Mastercard and Chase are reportedly using sophisticated algorithms and data analytics tools to determine pricing…

Following Bitcoin’s April halving, which cut miners’ rewards, many mining models saw “significant drawdowns” in pricing, according to Hashrate Index. The ASIC market is undergoing significant changes as mining rigs are trying to adapt to a post-halving environment, with Bitcoin’s (BTC) hashprice hitting record lows. The latest generation of Bitcoin miners, such as the S21 and T21, performed significantly better than older models in Q2, analysts at Hashrate Index say, adding that crypto miners prioritized efficiency to navigate the current challenging market environment. ASIC prices | Source: Hashrate Index Despite its industry-leading efficiency at launch, the S21 saw a price…

In response to the recent launch of Ethereum exchange-traded funds (ETFs), Brian Armstrong, CEO of Coinbase, lauded the development as a major step toward regulatory clarity. He emphasized that by approving the ETF, the U.S. SEC has officially confirmed that Ethereum (ETH) is not classified as a security. The Coinbase head noted the exchange’s role as the primary custodian for eight of the nine newly approved Ethereum ETFs. However, this announcement sparked a contentious debate among some crypto community members. Some argued that ETH, following its network Merge upgrade, should be considered a security due to its staking model and…

BlockFi, the defunct crypto lender, has achieved a major milestone in its bankruptcy proceedings by selling its FTX claims at a substantial premium. This sale paves the way for a full recovery of eligible customer and general unsecured creditor claims. Mohsin Y. Meghji, BlockFi’s Plan Administrator and Managing Partner of M3 Partners, detailed the development in a report to the United States Bankruptcy Court for the District of New Jersey. The transaction, which closed on July 10, was executed at a premium to the face value of the FTX claims. This sale is expected to facilitate a near-term final distribution…