Author: NBTC

Companies that are buying ether (ETH) for their treasury strategy are a better buy for investors than ETH spot exchange-traded funds (ETFs), said Standard Chartered analyst Geoff Kendrick. The analyst noted that these firms are attracting attention not just for their holdings but also for their financial structure, which is starting to become attractive for investors. “The NAV multiples (market cap divided by value of ETH held) have now also started to normalise for the ETH treasury companies,” said Kendrick, adding that this dynamic is making the “treasury companies now very investable for investors seeking access to ETH price appreciation.”…

Inflation concerns were re-ignited during U.S. morning hours Thursday, sending risk assets — crypto among them — sharply lower. The July Producer Price Index (PPI) rose 0.9%, blowing past estimates for 0.2% and 0.0% in June. On a year-over-year basis, PPI was higher by 3.3% versus forecasts for 2.5% and June’s 2.4%. Core PPI, which excludes food and energy, also surged 0.9% in July, far exceeding the 0.2% expected and 0.0% in June. Core CPI year-over-year rose 3.7% against 2.9% expected and 2.6% in June. Already well off a record high hit overnight above $124,000, bitcoin tumbled below $119,000 on…

Terraform Labs co-founder Do Kwon pleaded guilty in a US fraud case related to the $40 billion TerraUSD stablecoin crash in 2022. At a hearing in New York today, Kwon pleaded guilty to conspiracy and wire fraud charges in a deal with prosecutors. Appearing in court in his yellow prison uniform, he also agreed to pay a $19.3 million fine and forfeit some of his assets. “I conspired with others to defraud buyers of cryptocurrencies issued by Terraform Labs, and I did so knowingly. This was wrong, and I apologize for my actions. I accept full responsibility,” he said. Kwon,…

Gemini, the crypto exchange founded by Cameron and Tyler Winklevoss, has launched the Gemini Wallet, a new self-custodial smart wallet that aims to streamline user access to Web3 protocols, decentralized finance (DeFi) platforms, and onchain applications, the company said in a blog post Thursday. Available at onchain.gemini.com, the Gemini Wallet allows users to move seamlessly between embedded and portable wallet experiences, removing the need for separate apps or complex seed phrases. The wallet features passkey-based login for instant access via biometrics, social recovery tools to regain access without compromising privacy, and an integrated dashboard for exploring dapps, managing assets, and…

Ethereum is currently in a strong uptrend, showing resilience above key levels as it consolidates after a sharp move from $2,200 to around $4,000. Yet, there are some signs of exhaustion beginning to surface on the lower timeframes, which could translate to a deep pullback on the higher ones. Technical Analysis By ShayanMarkets The Daily Chart ETH continues to consolidate below the $4,000 zone after its aggressive rally from the $2,800 breakout level. The asset is holding above the previous resistance-turned-support at the $3,400 area, and the buyers are defending that zone well so far. The 100-day moving average has…

Stablecoin protocol USD.AI, which provides credit to artificial intelligence (AI) companies, has raised $13 million in Series A funding led by Framework Ventures. USD.AI, developed by Permian Labs, issues loans to emerging AI firms using graphics processing unit (GPU) hardware as collateral, cutting approval times by more than 90% compared with traditional lenders. The on-chain system includes USDai, a dollar-pegged token, and sUSDai, a yield-bearing version backed by income-generating compute assets. GPUs are fundamental hardware to AI processes through performing the many calculations at once required to make the process of training and using AI models much faster. CEO David…

Ethereum core developer Federico Carrone said that he would contribute $500,000 to Roman Storm’s legal fund amid the Tornado Cash co-founder facing a potential retrial in New York. In a Monday X post, Carrone said his experience in Turkey led to the decision to increase his donation to Storm from $50,000 to $500,000. The developer reported that he had been detained by Turkish authorities for about 24 hours over alleged links to an Ethereum privacy protocol. “[A]fter what happened to me, I need to take a clear position,” said Carrone, adding: “I understand that the [Ethereum Foundation] will be matching…

Payoneer, a US-based cross-border payments company, is integrating Citi’s blockchain technology to support real-time, round-the-clock intracompany money transfers. The integration uses Citi Token Services, a tokenized liquidity and payment platform. Bea Ordonez, CFO, Payoneer, Source: LinkedIn This allows Payoneer to move funds between its global accounts in participating branches and currencies with greater speed, automation, and transparency. The system provides instant liquidity and aims to improve treasury efficiency through API and blockchain integration with existing payments systems. “Blockchain-based infrastructure is transforming how money moves globally and with Citi Token Services, we gain the ability to move money in real time…

Lido’s Ethereum staking share has reached a significant new low, dropping to 24.4% from a high of 32.3% recorded in late 2023. This notable decline signals a dynamic shift in the landscape of Ethereum staking, as competing platforms actively gain more ground. For anyone following the crypto space, this development highlights the evolving competition within the crucial liquid staking sector. What’s Behind the Shifting Lido Staking Share? The numbers tell a compelling story of market redistribution. According to a recent CoinDesk report, Lido, once the undisputed giant in liquid staking, saw its share decrease significantly. This reduction wasn’t just a…

Ethereum has been trading sideways over the past week, struggling to break out of the negative trend that cut its weeks-long rally short. Summary Ethereum is struggling to climb above $3,600 amid mounting sell pressure. Polymarket traders see a 54% chance of a new ETH all-time high in 2024 Growing institutional interest in Ethereum is fueling bullish sentiment. Trading slightly over $3,617 at the time of writing, Ethereum (ETH) is down roughly 1.4% in the past 24 hours and 4.4% on the week. The decline marks a U-turn from its recent 50% climb, which stalled just before the $4,000 mark…