Author: NBTC
Data shared by popular data tracker Shibburn, which monitors SHIB burn transactions and then shares the details on its website and X page, has revealed that over the past day, a substantial amount of meme coins was driven out of the circulating supply. Meanwhile, the situation in the crypto market has started levelling up, and the SHIB price has staged a recovery of over 5%. SHIB burns surge 1,306% The aforementioned data source revealed that during the past 24 hours, the SHIB community has succeeded in disposing of an impressive amount of meme coins. Their cumulative efforts have made it…
According to breaking news, the SEC has released a statement regarding the regulation of memecoins. The SEC claims that memecoins are generally not securities under the law. The announcement, published by the SEC’s Division of Corporate Finance, aims to provide greater regulatory clarity regarding the classification of crypto assets inspired by internet culture, trends, and social media engagement. The SEC defines memecoins as a category of cryptocurrencies created primarily for entertainment, cultural expression, and speculative trading rather than for functional utility. Unlike traditional financial assets, memecoins do not yield returns, confer ownership rights, or grant holders a claim to future…
A recent report by River revealed that hedge funds and registered investment advisors’ (RIA) exposure to Bitcoin (BTC) via exchange-traded products (ETF) reached $34.3 billion as of Dec. 31, showing a 357% growth last year. The report highlighted that 458 RIAs have BTC exposure, with the weighted average allocation being 0.02%. Notably, investment advisors’ exposure soared from $2.6 billion in the first quarter to $7.1 billion as of Dec. 31, a 173% increase. Additionally, 52% of the top 25 RIAs by assets under management have BTC exposure. Yet, as of Dec. 31, only 3% of US-based investment advisors had Bitcoin…
MEXC announced a $20 million allocation to Ethena’s synthetic dollar USDe and a $16 million in Ethena Labs to fund user incentives to drive stablecoin adoption. On Feb. 26, MEXC crypto exchange announced that it had allocated $20 million to USDe. Additionally, MEXC Ventures, the investment branch of MEXC, has invested $16 million into Ethena (ENA) to be used for user-focused stablecoin-related incentives for users, including opportunities to earn rewards in high-APR staking events. We’re driving #Stablecoin adoption with a $20M investment in $USDe, #Ethena’s synthetic dollar, and $16M in @ethena_labs.And that’s not all – we’re launching a $1M reward…
Saudi Arabia has launched a new Web3 alliance designed to improve the pace of digitization in the Gulf nation, drawing participants from a pool of global and local ecosystem players with streaks of government support. According to a press release report, the new association will support the Saudi government’s existing efforts to improve adoption levels for blockchain technology and Web3 solutions. Dubbed the Web3 Alliance of Saudi Arabia (WASA), the body has its sights set on moving tech adoption in the country, targeting enterprise and individual utilities. Founding members of the alliance comprise industry heavyweights, including The Sandbox, Outlier Ventures,…
Simon Dedic, CEO of Moonrock Capital, recently expressed strong concerns about the legitimacy of Pi Network’s trading activities. He adds to a list of industry leaders concerned about Pi Network’s operational model. Meanwhile, the cryptocurrency project has reportedly amassed up to 65 million users since its inception in 2018-2019. Moonrock Capital CEO Criticizes Pi Network In a detailed post on social media platform X (Twitter), Dedic highlighted several red flags associated with the Pi Network. His primary allegation centers on the authenticity of Pi Network’s trading volume. “My thoughts: This is just a giant Ponzi that faked it till they…
Ukraine’s crypto tax debate continues as officials consider a lower 5-10% rate while others push for standard income taxes of up to 23%. Ukraine is moving toward legalizing the crypto market, with officials considering a 5-10% tax on crypto income to help fund the state budget and military. In an interview with a local news media, Taras Kozak, a member of Ukraine’s securities regulator advisory group, said that tax rates are still being debated, but reiterated that “all citizens income should be taxed.” “I lean toward a small tax — between 5% and 10%. All citizen income should be taxed…
The Seoul Southern District Prosecutors’ Office has launched a formal joint investigation unit that exclusively tackles crypto-related crimes and fraud cases. According to a report by Aju News, the department is named the Seoul Southern District Prosecutors’ Office-run Joint Investigation Unit or JIU for Virtual Asset Crimes. The unit will include 35 full-time employees with experience dealing with crypto crimes in South Korea, consisting mainly of prosecutors and financial regulators from the the Financial Services Commission and the Financial Supervisory Service. The unit will be led by Chief Prosecutor Park Geon-wook and two deputy chief prosecutors. The body was originally…
Michael Saylor remains a strong proponent of Bitcoin adoption for corporations, encouraging tech giants like Amazon and Microsoft to use Bitcoin for preserving cash reserves. His company has also organized the fifth annual “Bitcoin for Corporations” conference, scheduled for May 6-7, 2025, in Orlando, Florida. Michael Saylor, the co-founder of Bitcoin holding firm Strategy (MSTR), never misses a chance to pitch Bitcoin (BTC) to world leaders, highlighting how the asset is a sound value of money offering economic freedom. On Wednesday, February 26, Saylor pitched BTC to Amazon founder Jeff Bezos as the billionaire talked about “free markets” and “personal…
Binance enables USDC deposits and withdrawals on the Sui Network, boosting liquidity and transaction speed. Users can now send and receive USDC on Sui directly via Binance, avoiding bridges and extra steps. SUI’s higher low signals buying interest, with $3.50 as key resistance and $2.50 as critical support. Binance, the world’s largest crypto exchange, has completed the integration of USDC on the Sui Network, enabling faster and more efficient transactions. The exchange has officially opened deposits and withdrawals for USDC on Sui. This expansion is expected to enhance liquidity, making the network more accessible. Sui’s team acknowledged the development on…