Author: NBTC
A South Korean court denied the appeal of the Hancom Group chairman’s son, upholding his prison sentence for creating slush funds using crypto. Specifically, the court had sentenced Kim’s son to prison, convicting him for creating and using slush funds worth 9 billion won ($6.29 million) with virtual assets. The court dismissed the suspect’s appeal and upheld the original judgment. It also denied another appeal from the CEO of Arowana Tech, a cryptocurrency management company facing similar charges. This case stems from an issue from about three years ago when Kim’s son and another executive from a Hancom Group affiliate…
Luxor Technology Corporation has entered into a $131.4 million agreement with bitcoin mining device manufacturer Microbt. Bitcoin Mining Giants Luxor and Microbt Announce Partnership Luxor Technology Corporation‘s deal includes a confirmed purchase of Microbt’s Whatsminer application-specific integrated circuit (ASIC) bitcoin mining rigs worth $93.2 million and an option for an additional $38.2 million. These ASIC models will feature a combination of immersion, air-cooled, and hydro-cooled systems, aiming for efficiency. The announcement shared with Bitcoin.com News says the agreement supports Microbt’s expansion in the U.S., where it has started assembling mining equipment domestically. Bitmain, Microbt’s competitor, has also jumped into the…
This is a segment from the Forward Guidance newsletter. To read full editions, subscribe. It’s been 11 months since US spot bitcoin ETFs went live on Jan. 11. To mark the occasion, here are 11 facts about those products: Combined net inflows now stand at $34.3 billion, according to Farside Investors data. BlackRock’s iShares Bitcoin Trust (IBIT) alone has welcomed $35 billion to its coffers, while Fidelity’s product is the runner-up with flows of $12.1 billion. Since Nov. 6 (the day Donald Trump was named the election winner, removing crypto’s remaining reputational risk for many), the bitcoin ETF category has…
A new study by Clarify Capital shows growing interest in cryptocurrency-based compensation and loans among American workers and businesses. Bitcoin Most Preferred A new study has found that as many as 30% of American employees are open to receiving cryptocurrency as compensation. As expected, the study found Gen Z (39%) and millennials (32%) were most open to crypto salaries. Boomers were less enthusiastic, with only 15% expressing openness. The study, conducted by Clarify Capital, found bitcoin (BTC) to be the most preferred cryptocurrency, with 72% of respondents favoring it. Ethereum followed at 43%, with the stablecoin USDC at 28%. Litecoin…
Filecoin’s ecosystem is expanding, with over 60 teams developing solutions in decentralized storage, AI, DePIN, and Web3 infrastructure. The Fast Finality upgrade reduces Filecoin’s finalization time from hours to minutes, improving efficiency and scalability. With its fast expanding ecosystem, Filecoin is making major progress in the decentralized sector. Currently working on several projects ranging from decentralized storage, artificial intelligence, DePIN (Decentralized Physical Infrastructure Networks), computing, and DeFi, there are more than 60 innovative teams. These initiatives, which provide transforming solutions to sectors including data storage, artificial intelligence, and digital infrastructure, all aim to help shape the future of Web3. #FilecoinFact:…
One of the most significant factors for the crypto industry lies not in market dynamics, but in the political arena. Trump’s pro-crypto rhetoric certainly grabbed headlines, but the real catalyst for banks and other financial intermediaries is likely a Republican sweep in Congress, given that most of his pledges would require legislative approval. With strong Republican backing and bipartisan support also showing momentum, crypto-friendly legalisation would be far more likely to pass. Two developments are central to this shift: dismantling the SEC’s SAB 121 (which has kept much of the financial sector sidelined) and the Bitcoin Act 2024 (which proposes…
An exclusive crypto whale has made headlines for capturing the opportunity in the recent market plunge to amass Bitcoin. As per Spot On Chain, the whale accumulated up to 801 $BTC amid a recent price dip. The on-chain analytics provider disclosed this incident on social media. A new whale took advantage of the recent price drop to accumulate 801 $BTC ($77.55M) from #Binance at an average price of $96,815 over the last 17 hours!Follow @spotonchain and check out the whale’s wallets at:1/ Accumulating address: https://t.co/fP1gbLwmcR2/ Storing… pic.twitter.com/sS84gWrCb5 — Spot On Chain (@spotonchain) December 11, 2024 Crypto Whale Buys the Dip,…
Welcome to Latam Insights Encore, a deep dive into Latin America’s most relevant economic and cryptocurrency news from last week. In this edition, we explore how stablecoins might help re-energize the Bolivian economy, facing a dollar scarcity period due to its fixed exchange rate. Latam Insights Encore: Stablecoins Might Help Bolivia Move Its Stalled Economy Now that the cryptocurrency market is finally growing to considerable levels from a volume-focused perspective, stablecoins are starting to be considered real dollar proxies in emerging markets. The Bolivian economy, one of the smallest in Latin America, might be the perfect experiment to test whether…
Bittensor is bringing Ethereum Virtual Machine (EVM) compatibility to its decentralized platform, opening the door for developers to deploy smart contracts using familiar tools like Solidity, Truffle, and MetaMask. This connects artificial intelligence with traditional DeFi, creating new opportunities for innovation. As Bittensor grows, users can anticipate a rise in user-facing applications and new staking protocols, including staking pools and liquid staking, expanding options for both developers and investors. EVM compatibility on Bittensor is a game changer. Developers can deploy smart contracts using tools like Solidity, Truffle + Metamask. Bittensor bridging AI and traditional DeFi in new ways.Expect to see…
Lana Negrete, popularly known for her pro stance on crypto, has been officially appointed as the mayor of Santa Monica, California. The Bitcoin enthusiast will now be part of the Trump administration that endorsed the crypto industry during the presidential election campaigns earlier this year. Following her recent appointment, pro-crypto Lana Negrete will serve the U.S. government as the mayor of Santa Monica. Her appointment means California will have its first-ever pro-Bitcoin Mayor. Negrete is popular in the crypto arena for her support and belief in the crypto industry and its underlying technology. She has previously led initiatives to boost…