Author: NBTC
FTX Token recently slipped amid news of $5 billion distributions But what does FTX distributions mean for potential FTT price movement? Broader market sentiment may also dictate price direction for the FTX token. The FTX Token (FTT), the native cryptocurrency of the now-defunct crypto exchange FTX, is up 2.8% in the last 24 hours to trade above $1.24. While not huge, the gains continue FTT token’s uptick from lows of $1.12 hit earlier in the week. This comes as the FTX holder community eyes fresh momentum amid the impending $5 billion second phase of bankruptcy distributions. But what does this…
The total hashrate of the 13 U.S.-listed bitcoin BTC$107,661.84 miners tracked by JPMorgan (JPM) now accounts for around 31.5% of the global network, the highest level on record, the bank said in a research report on Monday.These miners added 11 exahashes per second (EH/s) of capacity since April, led by CleanSpark (CLSK), Hive Technologies (HIVE) and Riot Platforms (RIOT), the report said. The hashrate refers to the total combined computational power used to mine and process transactions on a proof-of-work blockchain, and is a proxy for competition in the industry and mining difficulty. The miners’ aggregate hashrate has risen 99%…
Consensys, the Ethereum infrastructure company behind the popular MetaMask wallet, said it has acquired Web3Auth, a provider of wallet infrastructure, in a move aimed at improving usability and developer accessibility across its platforms. Financial terms of the deal were not disclosed. The acquisition is designed to modernize MetaMask’s onboarding experience and tackle one of the most persistent challenges facing self-custodial crypto wallets: seed phrase management. According to Consensys, internal data indicates that 35% of MetaMask users fail to back up their seed phrases — a key vulnerability that can result in permanent loss of funds. Web3Auth’s technology, already integrated across…
The Ethereum Foundation has laid off some members of its research and development team as part of a broader restructuring effort aimed at refocusing on critical protocol design challenges, the organization said in a blog post Monday. The shake-up comes as the Switzerland-based nonprofit grapples with ongoing criticism over its management and strategic direction. Some in the Ethereum community have warned for over a year that failure to address key technical hurdles could threaten Ethereum’s status as an industry leader, and the organization has already undergone leadership changes in part to address these concerns. The foundation is rebranding its Protocol…
Circle made its public market debut Wednesday on the New York Stock Exchange (NYSE) under the ticker “CRCL,” pricing its shares at $31 — above the expected $24 to $26 range. The company sold around 34 million shares in the offering, for a valuation of $1.1 billion. Bloomberg pegs the total amount raised in the IPO at $6.2 billion. Circle initially planned to offer just 24 million Class A shares, with 9.6 million coming from the firm itself and the remainder from early stakeholders. But as demand soared, the offering ballooned to more than ten times the original amount. This…
Although the cryptocurrency market has been in a general downward trend this week, led by Bitcoin, the BTC price, which bottomed at around $ 100,000 on Friday, experienced a weekend recovery, climbing above $ 106,000 and is preparing to close the week in the green zone. The source of the decline during the week was the surprising debate between Elon Musk and Donald Trump and the subsequent decline in US stock prices. In addition, there will be a large number of token unlocks in many altcoins in the new week. Here is the token unlock calendar that we have prepared…
Czech Justice Minister Pavel Blažek resigned on May 30 after his ministry sold roughly $45 million in Bitcoin (BTC) that a man convicted of drug trafficking had donated. According to local media reports, a state wallet received more than 480 BTC. Officials immediately liquidated the amount for almost one billion Czech koruna, worth over $45 million, earmarking the proceeds for victim-compensation funds and prison equipment. The donation resulted in opposition lawmakers questioning the propriety of receiving assets from a former offender. Additionally, police have launched an investigation into the provenance of the coins and the circumstances under which the ministry…
Sui has hit a $14.8 billion monthly DEX volume despite price stagnation. The $223 million Cetus exploit has shaken Sui’s market confidence. The price of SUI is currently struggling to break past the $3.87–$4.13 resistance range. Despite a weekly drop of 45.21%, Sui has reached a historic milestone, recording its highest-ever monthly decentralised exchange (DEX) volume at $13.596 billion, even as the Cetus security exploit cast a shadow over Sui’s surging DeFi momentum. The unprecedented spike in trading activity in May, which marked nearly a fourfold increase from Sui’s historical monthly average of $3.93 billion, signals intensifying interest in its…
Bitcoin BTC$107,709.17 miners are facing mounting pressure as the network’s hashrate and difficulty continue to climb, tightening margins even as bitcoin’s price holds steady, according to TheMinerMag’s monthly report.The network’s mining difficulty hit a record 126.98 trillion, propelled by a 14-day average hashrate of 913.54 exahashes per second (EH/s). Transaction fees in June fell below 1% of block rewards, and hashprice dropped to $52 per PH/s before rebounding slightly. Escalating competition and energy costs are expected to drive production expenses above $70,000 per BTC, up from $64,000 in the first quarter of the year, the report said. To remain competitive,…
This is a segment from the Lightspeed newsletter. To read full editions, subscribe. Stop right there. Hall pass? In a permissionless world, it’s an awkward question. Blockchains weren’t really built for access control; they were built to say yes to anyone with a private key. But as crypto collides more and more with life outside our little bubble, the need for permissions has become unavoidable. Who’s old enough to enter? Who lives in the correct country? Who has permission to vote, and how many times? Who isn’t a bot? For too long, the only answers have come from walled-off KYC…