Author: NBTC
The Economist has taken scathing criticism of the cryptocurrency sector, describing it as the “ultimate swamp asset” and accusing it of straying from the ideals of decentralization, particularly in the context of US politics. The Economist Denounces Cryptocurrency as the “Ultimate Swamp Asset,” Criticizes US Industry’s Turn to Political Rent-Seeking The paper argues that the crypto sector, once hailed as a revolutionary tool for financial freedom and technological innovation, has become a tool for political rent-seeking and insider enrichment, particularly under the influence of President Donald Trump and his allies. “Instead of disrupting power structures, crypto in America has been…
The price of bitcoin vaulted to $97,469 per coin after idling near $94,000 for much of the day. Bitcoin’s volume tapped $24.27 billion, commanding 33.11% of all trades logged today. Bitcoin Resurfaces With Fury The leading crypto asset, bitcoin (BTC), climbed more than $3,500 from May 5’s intraday trough. The latest high was logged just after 8 :25 p.m. Eastern on Tuesday. At press time, BTC changes hands at $97,283. The token is up 2% in 24 hours and 2.8% on the week. Bitcoin’s uptick lifted the broader market, which now sits at $2.98 trillion after a 1.16% daily gain, according…
Ethereum (ETH) is up more than 58% in the last 30 days, with nearly 40% of that surge happening in just the past 10 days. Despite this sharp rally, several key indicators are starting to flash caution. BBTrend has turned negative, whale accumulation is declining, and short-term EMA momentum is stalling. These signals suggest Ethereum may be approaching a critical point where renewed buying pressure is needed to sustain its uptrend—or risk a potential reversal. Ethereum BBTrend Turns Negative After Month-Long Surge Ethereum’s BBTrend has just dipped into negative territory, now sitting at -0.02 after maintaining a positive trend for…
Some employees at Bitget’s new blockchain, Morph, initially thought of the L2 network as a potential future rival to Coinbase’s Base. But sources familiar with the project tell Blockworks that Morph has been stymied by internal dysfunction. Sources claim that since a $20 million seed raise in March of last year, team conflicts, flashy spending and a mysterious “shadow CEO” have led to layoffs, delays and a loss of direction. Blockworks spoke with a dozen current and former employees who were granted anonymity to share candid details of what went wrong inside one of Bitget’s most public bets. Morph’s beginnings…
Famous XRP advocate ‘All Things XRP’ sheds light on Eric Trump’s utter silence about XRP despite publicly praising Ethereum, revealing potential factors behind the snub. In an X thread, the commentator asserted that Eric and the Trump family-backed crypto project, World Liberty Financial, has entirely snubbed XRP while focusing on Ethereum and Bitcoin. Specifically, he recalled when Eric tweeted it was a ‘great time to buy’ ETH in February 2025. A few days later, Eric made some bullish comments about Bitcoin. As reported earlier, he suggested that the market dynamics at the time presented investors with an opportunity to buy…
A South Korean woman in her 40s has been sentenced to two years in prison for transferring $500,000 worth of crypto and cash from her boyfriend’s accounts while he was asleep. The woman in her 40s, identified only as “A,” was convicted on May 15 of embezzlement and fraud for moving $488,000, 683 million won, in crypto from her partner’s wallet to her own on January 5. She also stole his mobile phone and an additional $1,430, about 2 million won, in cash while he slept, bringing the total haul to roughly $489,000, or 685 million won, according to a…
With the Federal Open Market Committee set to announce its May 7 policy decision, Bitcoin traders face a macro‑driven inflection point that could define price action into the summer. The Federal Reserve, under Chair Jerome Powell, is all but certain to keep the fed‑funds corridor at 4.25 to 4.50 percent; CME Group’s FedWatch tool assigns a 98.2 percent probability to an unchanged stance. That near‑certainty, however, has not muffled political noise. President Donald Trump and Treasury Secretary Scott Bessent have publicly pressed for lower borrowing costs, yet Powell’s most recent public remarks on 16 April framed monetary policy as “in a wait‑and‑see mode,” adding that the labor market “is in decent…
A cryptocurrency whale has realized a $2 million loss, despite holding Ethereum (ETH), one of the top-performing assets over the past month. The unidentified trader offloaded 10,543 ETH worth approximately $26.1 million at an average price of $2,476 per coin, resulting in a $2 million loss in a sale executed in two days, according to the latest on-chain data retrieved by Finbold from Lookonchain on May 17. Details of the transaction show that the ETH was sold through a series of large swaps, most of which occurred within an hour. The trader used 1inch, a decentralized exchange aggregator, and multiple…
Coinbase (COIN) might be on the way to joining the world’s most valuable companies – at least, that is the view of Matt Hougan, Chief Investment Officer at Bitwise. In his latest post, he picked Coinbase as the number one company under $100 billion in market cap that has the best chance of hitting the $1 trillion capitalization milestone. This month, Coinbase will become the first crypto-native company ever included in the S&P 500, the most important stock market index in the U.S. Starting May 19, it will take the place of Discover Financial, which is merging with Capital One.…
Crypto media personality John Squire has boldly asserted that XRP is not dead despite recent lackluster price movements. Instead, in his view, XRP “is loading,” potentially preparing for a historic rally. In a detailed thread, Squire outlined why he believes XRP may be the most undervalued and misunderstood asset in the market. According to him, 99% of investors are not ready for what’s coming. First, he emphasized that, unlike newer, hype-driven tokens, XRP has spent the past ten years building a global payments infrastructure. Squire claimed that Ripple Payments, which uses XRP, is active in over 55 countries and works…