Author: NBTC

The U.S. Department of Justice’s (DOJ) case against Tornado Cash developer Roman Storm will proceed to trial, a New York judge ruled during a telephonic hearing on Thursday. District Judge Katherine Polk Failla of the Southern District of New York (SDNY) denied Storm’s motion to dismiss the criminal charges against him, saying she had a lengthy order to read into the record to explain her reasoning. As of press time, she was reading another portion of that order, addressing a motion to compel certain materials. Along with fellow Tornado Cash developer Roman Semenov, Storm was indicted last August on three…

Decentralized derivatives trading platform dYdX has announced plans to shut down its v3 platform on October 28, 2024. The platform, which has reached over $1 trillion in trading volume, will continue to operate normally until the close, giving users time to close their positions and withdraw their USDC funds. According to the announcement, users are urged to close their trades and withdraw their USDC holdings as soon as possible. Users will also be able to withdraw all USDC balances, including open positions, directly from the Ethereum smart contract after October 30. dYdX assured its users that their funds are safe…

Cryptocurrencies received more fund inflows as investors traded in Bitcoin & Ethereum ETFs. According to Lookonchain, industry big shots like ARK21Shares and Grayscale saw a massive inflow and proven demand from investors. Sept 27 Update:10 #Bitcoin ETFsNetFlow: +5,572 $BTC(+$369.85M)🟢#ARK21Shares inflows 1,743 $BTC($115.7M) and currently holds 47,599 $BTC($3.16B).9 #Ethereum ETFsNetFlow: +22,921 $ETH(+$61.66M)🟢#Grayscale Ethereum Mini Trust inflows 10,365 $ETH($27.88M) and currently… pic.twitter.com/I5sjPQoEmy — Lookonchain (@lookonchain) September 27, 2024 Bitcoin ETFs Experience Large Inflows Bitcoin ETFs received a netflow of 5,572 BTC, which is roughly $369.85 million. The increase reflects that more people trust Bitcoin and institutional and retail investors seek to invest…

Cronos is currently riding the bullish wave, seeing significant gains despite the momentum of the general market slowing down. According to Coingecko, the token is up more than 12% since last week, going against the grain of the general market momentum. This week, Cronos has spurred investor interest as it creates momentum for its upcoming Cronos zkEVM mainnet alpha launch on August 15th. Cronos zkEVM Set To Launch With Major Partners The official Cronos X account has announced that the mainnet of its upcoming Cronos zkEVM will be released in its alpha stage on August 15 next week. This will…

Bitcoin company Swan alleged in a lawsuit filed Wednesday that ex-employees of the company, including former executives, conspired to execute a “rain and hellfire” plan to usurp the firm’s Bitcoin mining business. The company further alleges that the scheme was aided by Tether, the cryptocurrency giant responsible for issuing the industry’s largest stablecoin by market capitalization, USDT. The complaint, filed in the U.S. District Court for the Central District of California, alleges that the former employees stole “highly proprietary code” from Swan’s Bitcoin mining monitoring software, in addition to stealing its vendors and business partners. The employees conspired to resign…

Kazakhstan granted cryptocurrency exchange Bybit full license approval. Awarded by the Astana Financial Service Authority (AFSA), this approval strengthens the exchange’s expansion in the region. It allows the company to offer a range of crypto services and marks a win in the company’s ongoing global expansion. Kazakhstan has emerged as a key hub for cryptocurrency activity, especially following regulatory tightening in other parts of the world. This new license enables Bybit to offer digital asset trading, custody services, and investment management to users across Kazakhstan and the Commonwealth of Independent States (CIS). Commenting about the licensing, Ben Zhou, the Co-founder…

Impressive gains since the U.S. Federal Reserve’s mid-September rate cut have pushed bitcoin (BTC) out of its downtrend and the crypto is now targeting $70,000 and then new record highs, according to a new research report. “Are you holding enough bitcoin and altcoins to ride the new wave,” is the subtitle of 10X Research’s Markus Thielen’s latest analysis. “With bitcoin breaking above $65,000, we anticipate a swift move toward $70,000, followed by new all-time highs in the near term.” Thielen took note of a sharp increase in stablecoin minting following the Fed’s July meeting, at which it left rates unchanged…

In a notable event within the cryptocurrency domain, a famous trader called “Machi Big Brother” invested 125 ETH (worth $336,800) to purchase 3.28 million $3AC tokens. According to Lookonchain, which tracks data from blockchain explorers and trading platforms, the transaction was completed at an average price of $0.1028 for each $3AC token. Machi Big Brother(@machibigbrother) spent 125 $ETH($336.8K) to buy 3.28M $3AC(by @zhusu) at an average price of $0.1028. #3AChttps://t.co/rehOcePKqm pic.twitter.com/AcdvTkqxxU — Lookonchain (@lookonchain) September 28, 2024 Uniswap Transaction Insights All the transactions made by Machi Big Brother were made through the Uniswap platform, which is an automated decentralized marketplace…

According to data from the Central Bank of Brazil, purchases of cryptocurrency made abroad have soared this year, surpassing the numbers registered in 2023. These purchases, considered imports, have reached $12.37 billion year-to-date, exceeding the total crypto purchases of 2023. This indicates that exchanges and trading platforms are preparing to accommodate a large demand for digital assets. Brazil Registers Cryptocurrency Imports of $12.37 Billion by August 2024 The demand for cryptocurrency in Brazil has greatly increased, and platforms have also purchased more crypto to offer their users. The Central Bank of Brazil has recently released data that indicated that cryptocurrency…

Money from the political action committees backed by such crypto firms as Coinbase and Ripple Labs is helping lift the Republican challenger against Sen. Sherrod Brown, who chairs the Senate Banking Committee where crypto bills have languished. Blockchain businessman Bernie Moreno has experienced a rapid rise in polling, some of which now put the Republican candidate atop Brown in the battleground state of Ohio. The colossal campaign spending from the cryptocurrency industry is showing up in dominant fashion in Ohio’s U.S. Senate race, where its political action committees have devoted $40 million to support Republican Bernie Moreno’s opposition of Sen.…