Author: NBTC
Following a settlement with the U.S. Securities and Exchange Commission (SEC), Chris Amani, who succeeded Do Kwon as the CEO of Terraform Labs, disclosed that the blockchain firm is set to dissolve. Terraform Labs Set to Close Doors Post-SEC Settlement Blockchain startup Terraform Labs has announced it is ceasing operations following a settlement with the SEC. CEO Chris Amani released the statement on the social media platform X. With the settlement complete, Amani noted he could now discuss the future of Terraform Labs (TFL). “TFL always intended to dissolve at some point and that point is now. We will be…
Bitcoin’s valuation presently resides at $68,402, boasting a market capitalization of $1.34 trillion and a 24-hour trading volume of $23.93 billion. Throughout the previous day, BTC’s price has maintained a tightly consolidated triangular pattern. Bitcoin Bitcoin’s (BTC) daily chart reveals a market that has transitioned from a significant rally to a consolidation phase. After an impressive rise from $56,500 on May 1, to $71,958 on May 20, bitcoin’s price has fluctuated within a narrower range, indicating a period of market indecision. Key resistance stands at $71,958, while support has shifted from $56,500 to around $66,000. Trading volume has diminished during…
Taiwan formed the Virtual Asset Service Provider Association with 24 crypto firms for regulatory oversight. BitoPro’s Titan Cheng chairs the association; XREX’s Winston Hsiao serves as vice chair. Taiwan aims to standardize VASP classification and management to align with global expectations. The formation of the Taiwan Virtual Asset Service Provider Association, which was entirely driven by government directives, represents a significant development in Taiwan’s cryptocurrency landscape regulation. This initiative demonstrates the country’s diligent approach to regulating its rapidly growing cryptocurrency market. Taiwan forms crypto industry association as major step toward self-regulation https://t.co/gdaMof0uyz — The Block (@TheBlock__) June 13, 2024 The…
According to recent data, May has set new records for milestones within the Bitcoin network. Following the record-breaking number of transactions confirmed on April 23, four of the top five days with the highest transaction counts settled on the Bitcoin blockchain occurred in May. 2024: A Banner Year for Bitcoin Records The year 2024 has been a period of unprecedented achievements for BTC, with its price hitting an all-time high of $73,794 per coin on March 14. On May 26, Bitcoin’s total hashrate, measured by the seven-day simple moving average (SMA), reached a peak of 656 exahash per second (EH/s).…
UNI, the native token of decentralized exchange (DEX) Uniswap, has surged 9% to become the top gainer in the crypto market today. At the time of writing, UNI has been trading at $10.69, which is up 8.5% over the past day. In the same timeframe, the crypto asset experienced a 31% drop in trading volume, suggesting existing holders might be holding onto their UNI tokens in expectation of a further price rise. UNI 24-hour price chart | Source: CoinMarketCap Meanwhile, Uniswap’s market cap had risen to $6.4 billion, bringing the token to the 18th largest crypto asset asset per data…
Commodity Futures Trading Commission, Commissioner Christy Goldsmith Romero is expected to get nominated to be the next Federal Deposit Insurance Corporation Chair. Kristin Johnson, another Democratic commissioner, will also be nominated for the role of Assistant Secretary for Financial Institutions at the Treasury Department, at the same time. She has been outspoken when it comes to crypto, once commenting that the mood in Washington was to “get it right,” when it came to regulation. The White House is expected to nominate U.S. Commodity Futures Trading Commission Commissioner Christy Goldsmith Romero as the next Federal Deposit Insurance Corporation (FDIC) chair and…
Strategic advisor at Tether Gabor Gurbacs has commented on the recently published news about India moving its gold supply from the U.K. and then back again. Gurbacs’s tweet hints that this could have been done much easier if India had adopted BTC, or at least added the leading cryptocurrency to its balance sheet. India moving gold back from U.K.’s central bank One of Bitcoin’s “key selling points” is that it is easy to transact or transport if one uses a cold wallet and is much easier to store than physical gold. The financial expert and Bitcoin maximalist shared a recently…
The native token for a Solana (SOL)-based non-fungible token (NFT) platform surged by nearly 30% this week, defying the wider crypto market doldrums. Metaplex (MPLX), which aims to facilitate the creation, sale and management of NFTs, clocked price gains this week after it drew attention to its swelling on-chain activity. The project notes on the social media platform X that 834,000 unique wallets directly signed transactions with its protocol in May, its highest month of all time. Source: Metaplex/X Metaplex also notes that last month, 3.1 million new wallets collected a digital asset created through the project. Source: Metaplex/X Metaplex…
In a notable series of whale transactions today, more than $372 million worth of Solana (SOL) has changed hands, according to Whale Alert, a leading blockchain transaction tracker. The substantial whale movements come at a time when the broader cryptocurrency market is experiencing a bearish phase with no signs of momentum. Whale Alert reported that 1,000,000 SOL, valued at approximately $147.85 million, had been transferred from an unknown wallet to a new, unidentified crypto wallet. Shortly after, they reported another transaction involving 1,519,488 SOL, valued at around $224.64 million, transferred between unknown crypto wallets. Solana’s struggles and market sentiment These…
The European Banking Authority published the final version of draft technical standards on prudential matters for firms to comply. The technical standards are part of the European Union’s Markets in Crypto Asset legislation. The European Banking Authority (EBA) published on Thursday the final draft technical standards on prudential matters for firms to comply with under the Markets in Crypto Assets (MiCA) legislation. The wide-ranging package of bespoke rules for the crypto sector, MiCA was passed last year. The legislation comes with rules for crypto companies and stablecoin issuers. The EBA’s standards set out a criteria for stress testing programmes and…