Author: NBTC
A federal judge imposed a $125 million fine on Ripple after finding last year that its institutional sales of XRP violated federal securities laws. The judge reiterated her view that Ripple’s programmatic sales of XRP to retail clients through exchanges did not violate federal securities laws. A federal judge ordered Ripple to pay $125 million in civil penalties and imposed an injunction against future securities law violations on Wednesday. District Judge Analisa Torres, of the Southern District of New York, imposed the fine after finding that 1,278 institutional sale transactions by Ripple violated securities law, leading to the fine. The…
Japan’s Metaplanet issues ¥1 billion in bonds at 0.5% interest to purchase Bitcoin, boosting its cryptocurrency holdings. The bond issuance, guaranteed by CEO Simon Gerovich, aims to fund Metaplanet’s long-term Bitcoin acquisition strategy. Metaplanet holds 141.0727 Bitcoins, valued at ¥1.45 billion, recording long-term assets at cost and short-term at market value. Metaplanet, a Japanese firm, has announced that it’s expanding its Bitcoin portfolio by issuing ¥1 billion in 0.5% bonds. This decision, made during today’s Board of Directors meeting, will see the raised capital allocated for the purchase of Bitcoin. JUST IN: 🇯🇵 Japanese public company Metaplanet issues ¥1 billion…
Ethereum layer-2 wallet addresses using Uniswap’s decentralized exchange nearly doubled last month compared to numbers recorded in June. Dune analytics data showed 8.5 million Ethereum (ETH) addresses trading on Uniswap via L2s like Arbitrum, Base, Optimism, Polygon, and ZKSync, setting a new all-time high. Uniswap is the biggest DEX on any blockchain, generating almost $100 million in fees in June. ETH layer-2s run atop or adjacent to Ethereum’s mainnet to help the second-largest decentralized network in crypto. Although Vitalik Buterin’s co-created blockchain is known for secure permissionless transactions, on-chain bottlenecks often arise, increasing the cost of sending assets. L2s were…
Ethereum (ETH) has turned inflationary in 2024 for the first time since 2022. Despite burning 465,657 ETH since the start of the year, the network has added a net total of 75,301 ETH to its supply. The shift from deflationary to inflationary occurred in Q2 2024, as network activity declined. During this quarter, 228,543 ETH were emitted versus 107,725 ETH burned, resulting in 120,818 ETH added to the blockchain. Uniswap remains the largest burner of ETH, having burned 71,915 ETH in 2024. However, its burn rate dropped 72.4% quarter-on-quarter to 15,031 ETH in Q2, down from 54,413 ETH in Q1.…
The U.S. election and CPI could be a bullish factor later this year. Fed’s preferred inflation gauge, the PCE price index, due Friday, could offer relief. Bitcoin (BTC) has carved out a double-top price pattern, signaling a potential bearish trend change ahead of key data release that could influence the Fed’s interest rate path. Bitcoin’s price journey has been a rollercoaster this month. After surging to nearly $70,000, approaching the all-time high of March, it has now retreated to $63,000, decoupling from Nasdaq’s continued move higher, largely due to faster selling by miners, profit-taking by investors near lifetime highs, and…
USA: Lenient $125M Fine on Ripple Sparked Market Recovery Ethereum, like the broader crypto market, started the week on a downtrend, with a sharp market crash on Monday, August 5, pulling ETH to a multi-month low of $2,110. However, on August 7, the U.S. court’s decision to impose a relatively lenient $125 million fine on Ripple marked a significant turning point. The resolution of Ripple’s prolonged legal battle with the SEC had been a major overhang for the market. The perceived legal clarity from US regulators instilled renewed confidence in investors, triggering a swift recovery in Ethereum’s price, which quickly…
The Mocaverse project token, MOCA, has begun trading on well-known centralized exchanges, including KuCoin, Gate, HTX, Coinlist, Bitget, MEXC, and Bitmart. Trading began with a MOCA rate of $0.088. Listing on several major centralized exchanges is expected to increase MOCA’s visibility and significant trading volume, attracting a wider audience of investors and users. Mocaverse will also introduce a staking feature alongside a Token Generation Event (TGE). Users can stake MOCA tokens to receive staking power or “soft stake.” MOCA Saving 1.0 participants will be able to accumulate staking power at a rate of 0.000001 per second. “Staking Power grants holders…
MUNICH, Aug 6 (Reuters) – German prosecutors have charged another two former Wirecard (WDIG.H, opens new tab executives, according to a statement from their Munich office on Tuesday, casting their net wider in investigations into one of Germany’s biggest corporate scandals. Wirecard collapsed in June 2020 over a 1.9 billion euro ($2.1 billion) hole in its balance sheet, shaking up Germany’s business establishment and turning the spotlight on politicians who backed it, as well as regulators who took years to investigate allegations against the firm. Alexander von Knoop, who served as finance chief of the now-defunct online payments company, and…
Bitcoin (BTC) mining is consuming less power today than it did at the end of July this year. According to Digiconomist, mining consumed 115.21 TWh (Terawatt hours) of power at press time, representing a 24% slump from the 152.52 TWh it required on 31st July 2024. These findings could be welcome news for Bitcoin enthusiasts who’ve been fighting to redeem the image of the premier cryptocurrency. BTC has attracted criticism from environmentalists who hold that its mining is an energy-intensive activity that harms the earth. These have, for instance, pointed out the large volumes of water consumed by the process…
Bitcoin and the crypto industry have become major topics in this year’s US presidential election. For many people disillusioned with current politics, Bitcoin could bring substantial change, according to Raphael Zagury, Chief Investment Officer at Swan Bitcoin, a Bitcoin investment platform. “It started with senators talking about bitcoin. Then we had more people talking about it. And now we have Trump coming in, and which was a surprise for most people, even for some of us who had been in Bitcoin for a long time, to hear him saying the positive things that he did,” stated Zagury at Market Domination…