Author: NBTC
LIBRA creator Hayden Davis has “shamelessly” cashed out over $1.6 million in stolen funds made from trading the currency, according to crypto analyst “dethective.” Dethective shared transactions from March 6 that showed wallets unstaking $900,000 from Kamino Finance and converting it into USDC. Another $741,000 dollars was converted yesterday, using funds from LIBRA and other “scams,” according to the Dethective’s research. The analyst said, “I’ll keep posting because there’s no way they get away with zero consequences.” Dethective also claims that Davis is “farming kamino points” using $1.4 million that was sourced from LIBRA, Melania Trump’s MELANIA memecoin, and “others.”…
A majority of lawmakers in the U.S. House of Representatives voted to overturn an IRS rule treating crypto entities as brokers and requiring them to collect certain taxpayer and transaction information, including decentralized finance (DeFi) platforms. With a 292-132 vote, a bipartisan majority in the House joined the U.S. Senate in advancing the Congressional Review Act resolution overturning the rule finalized in the closing days of former President Joe Biden’s administration. Missouri Republican Jason Smith, urging his fellow lawmakers to vote for the resolution earlier in the day, said the IRS rule risked harming U.S. businesses and disincentivized innovation. “There…
51nodes, a leading German blockchain technology integration specialist, is set to build on World Mobile Chain, the Layer 3 blockchain developed by World Mobile, to deploy decentralized physical infrastructure solutions and blockchain-powered applications. These real-world applications will focus on data-based tokenized assets within Europe’s industrial sector, leveraging secure, enterprise-grade automation to drive efficiency and unlock new commercial opportunities. As part of this effort, a $5 million grant program will fund 50 projects, each receiving up to $100,000 to explore decentralized infrastructure use cases. Major German and European corporations are going to play a key role in being part of the…
Modular blockchain Hemi Labs’ unveiled its mainnet with $440 million in total value locked (TVL). Hemi, founded by early Bitcoin developer Jeff Garzik, plans to unify Bitcoin and Ethereum, the two oldest and largest blockchains, into “a single supernetwork,” according to an emailed announcement. Hemi is built on both Bitcoin and Ethereum to combine the best qualities of both, taking advantage of Bitcoin’s security and Ethereum’s programmability. The project raised $15 million in a funding round led by Binance Labs last September. The project is one of several looking to transform the broader blockchain landscape, particularly with regard to decentralized…
Shiba Inu addresses holding at least $1 million in SHIB rose from 589 to 947 in a year, coinciding with the token’s 53.65% rise. Shiba Inu has experienced fluctuations in the crypto market, with its price dropping over 27% in the past month. However, the token saw a minor 0.98% increase in the last 24 hours, though it remains 1.47% lower over the past week. Meanwhile, data indicates an increase in high-value holders, suggesting notable accumulation among large investors. Increase in High-Value Shiba Inu Holders Over the past year, the number of Shiba Inu addresses holding at least $1 million…
A recent ruling from the Second Circuit Court of Appeals in a Uniswap Labs case reaffirms that neutral, decentralized software creators should not be held liable for third-party misuse of that technology. According to an article from the DeFi Education Fund, the decision strengthens legal protections for decentralized finance (DeFi) developers and marks a significant moment for developers. Neutral technology The lawsuit against Uniswap Labs and certain venture capital investors alleged violations of US securities laws by enabling the trading of “scam tokens” on the decentralized exchange (DEX) Uniswap. A central question in the case was whether Uniswap’s smart contracts…
XION, a layer 1 blockchain backed by Circle and Multicoin, becomes the first mainnet platform to comply with European Union regulations. The walletless blockchain, focused on bridging web2 and web3, announced the milestone in a press release shared with crypto.news on March 13. Following the news, the utility token—used for network fees, governance, and proof-of-stake security—bounced more than 10%. XION was trading around $0.90 at the time of writing. According to the venture capital-backed L1, EU compliance also sees it become the first blockchain network to release a Markets in Crypto-Assets whitepaper. You might also like: Proof-of-stake blockchain XION introduces…
Ethereum (ETH) is down around 33% since Eric Trump brazenly predicted, “it’s a great time to add $ETH.” Trump made the claim (which originally also said “thank me later”) on February 3 via his X account. At that point, ETH’s price stood at around $2,877.32. However, fast forward five weeks, and it has dipped to $1,908.57 at the time of writing — a slide of just over 33%. The dip marks the currency’s worst February — a month when it traditionally sees stellar performance — since 2018, when it fell by just under 54%. The Trump name is seemingly becoming…
A Federal Reserve inflation gauge has shown signs of easing, sparking reactions across financial markets, including cryptocurrencies. As inflation pressures lessen, investors are reassessing their positions, leading to price movements on Bitcoin and other digital assets. According to the Labor Department, the February consumer price index was softer than expected, rising a seasonally adjusted 0.2% from January, bringing the annual inflation rate to 2.8%. Dow Jones economists were expecting monthly and yearly gains of 0.3% and 2.9%, respectively. The U.S. February unadjusted CPI annual rate was recorded at 2.8%, the lowest since November last year; the U.S. February seasonally adjusted…
Renowned Bitcoin advocate Davinci Jeremie has issued a public warning about XRP, claiming that funds in XRP could be frozen at will, putting holders at risk. According to Jeremie, “Your money is not truly yours with XRP. They can freeze it any time.” He went on to explain his reasoning, stating that XRP is a “banker’s coin,” given its utility in the financial system. Jeremie claimed that those who are okay with supporting banks that could potentially steal people’s wealth should buy XRP. He argued that doing so means supporting the wealthiest criminals in society. “If you love your criminal…