Author: NBTC

Ethereum’s native token, Ether (ETH), has seen a notable increase in value, reaching $3,550 on June 19. This surge follows the U.S. Securities and Exchange Commission’s (SEC) decision to end its investigation into whether Ether is an unregistered security. This development, combined with the initial approval of Ethereum spot exchange-traded funds (ETFs), has significantly boosted market confidence. The SEC’s decision to close its investigation into Ethereum 2.0, announced by Ethereum developer ConsenSys, is a major victory for the cryptocurrency industry. In the mid-term, from June 27 to July 10, Ethereum is expected to aim for the $4,000 mark, potentially reaching…

Bank of America report shows younger affluent individuals favor crypto and alternative investments, differing from older generations’ traditional focus. “In fact, the most ‘conservative’ group is holding the highest average exposure to crypto,” the bank said. ‘Younger Groups Hold More Crypto and More Alternative Investments’ Bank of America released a report titled “2024 Bank of America Private Bank Study of Wealthy Americans” on Tuesday, highlighting notable trends and examining how generational dynamics and the upcoming wealth transfer are shaping financial strategies. The report highlights that younger affluent individuals are considerably more inclined to invest in cryptocurrencies compared to their older…

American trading platforms Coinbase and Robinhood move 9.6 trillion Shiba Inu in 24 hours as SHIB retests $0.000022 amid the latest market crash. Robinhood Moves 600 Billion Shiba Inu On-chain tracking and analytics system Whale Alert spotlighted the development in a recent post on X, calling attention to the Robinhood movement. Per Whale Alert’s disclosure, Robinhood transferred 600 billion SHIB worth $13.7 million at the time of disclosure to an unknown wallet address yesterday. 🚨 600,000,000,000 #SHIB (13,713,299 USD) transferred from #Robinhood to unknown wallethttps://t.co/9jSpBh0IQ1 — Whale Alert (@whale_alert) June 10, 2024 The post garnered attention due to the sheer…

The US SEC has raised concerns over the status of Circle’s stablecoin, USDC, as the company seeks to go public in a multi-billion dollar initial public offering (IPO), Barron’s reported on June 18, citing regulatory documents. The SEC’s concerns are primarily related to the risks associated with USDC and other stablecoins potentially being classified as securities under US law. The watchdog expressed similar concerns in 2021 when Circle tried to go public via a special-purpose acquisition company (SPAC). According to the report, the documents reveal an extended exchange between the SEC’s Division of Corporation Finance and Circle, spanning nearly a…

A widely followed crypto strategist thinks that Bitcoin (BTC) is in a position to ignite a breakout rally on the way to fresh all-time highs over the next few days. In a new video update, pseudonymous analyst Credible tells his 53,200 YouTube subscribers that Bitcoin may have just started a five-wave rally that could send BTC above $100,000. Credible relies on the Elliott Wave theory, which states that a bullish asset often witnesses a five-wave surge where waves one, three and five are upside moves and waves two and four are corrective periods. According to the analyst, Bitcoin’s recent move…

Ethereum ETF issuers are expected to file updated S-1s before weekend following Bitwise filings. SEC didn’t explicitly declare ETH a commodity despite closing Ethereum 2.0 investigation. Ethereum’s increased implied volatility may be misleading as institutions may employ similar cash-and-carry arbitrage strategy when spot ETH ETFs launch. Ethereum’s (ETH) price increased over 4% in the past 24 hours after the Securities & Exchange Commission (SEC) dropped its Ethereum 2.0 investigations amid expectations of spot ETH ETFs. However, the recent excitement surrounding ETH ETFs may not lead to the expected price increase. Daily digest market movers: Bitwise files updated ETH ETF S-1,…

Circle CEO Jeremy Allaire said he has “never been more optimistic than right now” about the future of crypto in his 11 years leading the firm behind the USDC stablecoin. In a detailed social media post, Allaire outlined his reasons for this positive outlook, emphasizing the potential of crypto and the progress made over the past decade. He suggested that the majority of people still do not fully grasp the unfolding changes in digital finance. Drawing on his extensive experience with internet technology adoption cycles, Allaire believes crypto will play a significant role in society and the economy. Historical progression…

VeChain secures its 67th patent, revolutionizing carbon trading with blockchain technology. This breakthrough could significantly impact VET’s market price. VeChain has announced a groundbreaking patent for its carbon trading technology, marking its 67th patent and solidifying its role as a blockchain innovation leader. According to blockchain expert Collin Brown, VeChain has achieved a significant milestone by securing a patent for its pioneering carbon trading technology. This development, revealed in Collin’s recent tweet, marks VeChain’s 67th patent, reinforcing its position as a leader in blockchain innovation. 🚀 VeChain has just secured a groundbreaking patent for carbon trading technology! This brings #VeChain’s…

Congressman Patrick McHenry (R-N.C.) chairs the powerful House Financial Services Committee, and has been the leading Republican on the panel for years. Last year, he spent a few weeks as the Speaker Pro Tempore of the House of Representatives, after lawmakers voted to oust then-speaker Kevin McCarthy (R-Calif.). McHenry announced his retirement in December and will leave office when his term expires this coming January. He spoke virtually at Consensus 2024 in Austin at the end of May. You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for…

LayerZero’s native token, ZRO, has been listed on Binance with a seed tag. Beyond Binance, ZRO has also been listed on other major exchanges like Upbit, Bybit, Bitget, OKX, and others. Despite a sluggish performance in the global cryptocurrency market over the past fortnight, new projects and developments continue to create buzz. In the queue, LayerZero, an omnichain interoperability protocol, has garnered significant support from the crypto community following a successful airdrop. This led to the listing of its native token, ZRO, on several prominent exchanges. Leading the charge, Binance, the world’s largest cryptocurrency exchange by trading volume, has announced…