Author: NBTC
Robinhood is the latest firm to draw the ire of the U.S. Securities and Exchange Commission (SEC). This weekend, it reported receiving a Wells notice – an announcement that the securities watchdog is building a case and intends to sue. In an 8-K filing, the fintech firm revealed it received the letter from the SEC’s enforcement division for alleged securities violations. This is an excerpt from The Node newsletter, a daily roundup of the most pivotal crypto news on CoinDesk and beyond. You can subscribe to get the full newsletter here. At this point, it’s hard to be surprised by…
According to Joe Downie, the chief marketing officer at Nicehash, bitcoin miners struggling to stay afloat after the halving are unlikely to support or become involved with artificial intelligence (AI). This is because their application-specific integrated circuit (ASIC) miners now “only allow for mining on one algorithm.” Furthermore, Downie argued that bitcoin mining devices are not “designed for flexibility,” and hence, they cannot be used to support AI infrastructure. Nicehash CMO Discusses AI Challenges and Opportunities Post-Halving Downie, a bitcoin advocate, nevertheless told Bitcoin.com News that artificial intelligence (AI) is mostly powered by graphics processing units (GPUs). Although he acknowledged…
Ethereum is gearing up for an important update that could make it safer from potential threats posed by quantum computing. This update is focused around a new proposal called EIP-7702, which was put forward by Vitalik Buterin. This proposal is an improvement over an earlier one, addressing some specific technical issues related to signing processes that were seen as limitations before. However, a major topic of discussion in the community is the actual threat of quantum computing. Some argue that quantum computing is often used as a scare tactic, without real solutions being offered. For example, developer James Prestwich pointed…
Rostin Behnam, Chairman of the US Commodity Futures Trading Commission (CFTC), recently made a statement regarding the future of the cryptocurrency market. He says he predicts we will witness another enforcement cycle in the crypto space in the next 6 to 24 months. According to Behnam, this is due to the lack of a regulatory framework for the cryptocurrency sector, the appreciation of assets and the renewed interest of individual investors and entrepreneurs. Behnam also said about the sustainability of digital assets: “There is a sustainability to this asset class. It is clear that there has been growth in the…
ViaBTC, the world’s third-largest mining pool, is initiating an auction for the “epic sat” it uncovered during Bitcoin’s fourth halving event on April 20. In an April 23 announcement, ViaBTC disclosed that the auction is underway on the CoinEx crypto exchange and is slated to conclude by April 26. The statement reads: “The auction for Sat 1,968,750,000,000,000 — 1 of only 4 epic sats in the Bitcoin ecosystem — has officially begun!” “Epic sat” refers to the initial satoshi generated following each halving event, occurring approximately every four years after 210,000 blocks. With just 32 epic sats expected to exist,…
Ethereum’s team lead Péter Szilágyi has criticized Farcaster for alleged bot manipulation, raising concerns about the platform’s transparency. Ethereum‘s core developer Péter Szilágyi appears to be not a big fan of Farcaster, an open-source decentralized social network, implying the platform is filled with bot manipulation. The Farcaster DAU printer:– Bots pay 5$ to FC to sign up.– Bots circle-jerk to amass DEGEN tips.– Degen tokens cover the signup fees.Rinse and repeat.FC adds feature to hide bots. “Win-win”. Users live in a bubble, FC can “demo” insane DAU. Completely healthy ecosystem /s — Péter Szilágyi (karalabe.eth) (@peter_szilagyi) May 8, 2024 In…
Prominent figures in the cryptocurrency law community have accused the US Securities and Exchange Commission (SEC) of overstepping its bounds in its latest crackdown on crypto companies. The criticism comes after cryptocurrency and stock brokerage Robinhood announced that it had received a Wells Notice from the SEC regarding cryptocurrencies. Variant Fund’s Chief Legal Officer, Jake Chervinsky, expressed on social media his surprise at the number of Wells Notices the SEC has sent to crypto companies in recent months. “It is hard to imagine that they would (or could) make so many enforcement decisions at once,” he wrote, adding: “They appear…
Bitcoin maximalist and chief executive at Jan3 Samson Mow has spoken to Forbes about the halving that is now in the rearview, the Bitcoin supply shock that he expects in the near future and about the ultimate Omega candle that will perhaps push BTC to $1 million. Omega Candle in sight! Omega Candle in sight! The #halving is proof that this system works, but it also means a supply shock is coming for any parties looking to buy large amounts of #Bitcoin. Check out @Excellion’s comments on the recent halving in this @Forbes article by… pic.twitter.com/xp23ulxQIJ — JAN3 (@JAN3com) April…
The Ethereum (ETH) price is currently undergoing a correction, with the price approaching significant Fibonacci support levels. Whether Ethereum will break this support bearishly or not remains uncertain. The possibility of Ethereum reaching a new annual low largely depends on market dynamics and investor sentiment. While there’s always the possibility of further downside, it’s also plausible that Ethereum could reverse its trend and move upward again in the near future. Ethereum’s Price Trend: Ongoing Correction Continues The Ethereum price has experienced a decline of approximately 31.3% since reaching a recent peak of around $4,094 the month before last. This substantial…
The Digital Chamber, a crypto trade association, condemned the SEC for submitting a Wells notice to Robinhood Crypto. In a statement on May 6, the association expressed “profound disappointment and concern” over the action and called it an example of regulatory overreach. The Digital Chamber emphasized its ongoing opposition to the SEC extending its reach without authorization from Congress. It noted that Congress is “actively deliberating legislation” to define regulatory jurisdiction over crypto and said the SEC has violated the process. To address jurisdictional issues, the Digital Chamber urged for “immediate legislative action” and said SEC Chair Gary Gensler should…