Author: NBTC
After months of enthusiasm about a potential rally to unprecedented highs toward $100,000 or – according to some prominent investors – toward $300,000, building up in the wake of spot exchange-traded funds (ETFs) approval, a new record value near $73,000, and the halving event in April, Bitcoin (BTC) price movement turned relatively stagnant and even threatened a collapse in early May. By the middle of the month – and particularly after the latest CPI report came out lower than was feared – the world’s premier cryptocurrency again took off, gaining nearly 5% in a week and surging from a low…
During a recent interview with CNBC, Ripple President Monica Long said that an XRP exchange-traded fund (ETF) would make “a lot of sense.” “If you think about it, only XRP and Bitcoin have regulatory clarity on status in the U.S. XRP has been a top 10 asset by market cap and is about the top 5 if you look at daily traded volume. So, I think that it will make a lot of sense,” she said. Long’s statement comes after Ripple CEO Brad Garlinghouse recently predicted that the launch of a spot XRP ETF was seemingly “inevitable.” During a recent…
Stuart Alderoty, Ripple’s chief legal officer, has accused U.S. Securities and Exchange Commission Chair Gary Gensler of breaking the law by exceeding his statutory authority. This comes after Gensler told the Financial Times that the regulator is adjusting to recent legal losses. Not backing down Despite facing setbacks in courts, Gensler is determined to move forward with his agency, which includes reigning in the cryptocurrency industry. In July 2023, Judge Analisa Torres delivered a setback for the SEC by determining that secondary sales of the Ripple-linked XRP token were not securities. Even though the decision has failed to gain traction,…
Blockchain interactions can be tricky and complex, particularly for beginners. In this article, we will explore chain abstraction, how does it work, some of its advantages and challenges, and general misconceptions about it. What Is Chain Abstraction? Chain abstraction is NEAR’s concept for simplifying how consumers engage with blockchain technology by isolating it from the user experience. The idea is for customers to be unaware of which blockchain they are working with, or even that they are utilizing a blockchain. How Does Chain Abstraction Work? Consider a situation where you can only send text messages from an iPhone to other…
The price of Bitcoin (BTC) rose above the 21- and 50-day SMA resistance levels for the first time on May 15, 2024. Long-term forecast for the Bitcoin price: bearish The rally has broken the 21-day SMA and prevented the bears from defending it. Bitcoin bulls have made two unsuccessful attempts to break above the 21-day SMA resistance. On May 15, Bitcoin rose to a high of $66,500 before retreating and retesting the 50-day SMA support.The largest cryptocurrency is on the verge of rising again after a successful test of the 50-day SMA. On the upside, Bitcoin will try to reclaim…
Gary Gensler – chairman of the US Securities and Exchange Commission (SEC) – sat down with CNBC’s Mad Money host Jim Cramer on Wednesday to discuss the regulator’s Bitcoin and Ethereum ETF approvals, alongside what may be coming next. That included questions about whether obscure meme coins could soon receive their own ETFs, such as SushiSwap (SUSHI) and Bonk (BONK). Cramer named a host of coins to Gensler that had all traded “millions of dollars” on Wednesday morning – including Cardano, Cosmos, Immutable, Ronin, and MyNeighborAlice, among others. “Now in two weeks, should we have a SushiSwap ETF?” asked Cramer.…
Nigeria’s Securities and Exchange Commission (SEC) has given cryptocurrency exchanges and digital assets traders 30 days to re-register their businesses—or risk facing enforcement actions.This announcement is part of Nigeria’s plan to regulate digital assets trading. The SEC said the new registration is aimed at amending its rules on digital assets issuance, offering platforms, exchanges, and custody in regards to virtual asset service providers (VASPs). “All operating and prospective VASPs are hereby directed to visit the SEC ePortal to complete the application process no later than 30 days from the date of this circular,” the commission said in a statement on…
TON Boost, the fastest and most lucrative cloud mining app on Telegram, has announced a strategic partnership with XSTAR. XSTAR is known for its Omnichain Identity Protocol for Proof of Humanity. It features an Adaptive Humanity Scoring system to authenticate individuals. In addition to this, this system enhances security and trust by ensuring that users are genuine. TON Boost Adopts XSTAR’s Identity Verification Solution New security features are expected to be offered by the integration of TON Boost with XSTAR and improve user experience in the platform. By integrating the upgraded identity technology provided by XSTAR, TON Boost will provide…
Today, the Proof of Workforce Foundation, a 501(c)(4) tax-exempt nonprofit organization, has announced the addition of two distinguished members to its Board of Directors: Ajit Singh and Raphael Zagury, according to a press release sent to Bitcoin Magazine. This duo is being brought on to further strengthen the Foundation’s mission to promote meaningful, education-based Bitcoin adoption among workforce organizations. Ajit Singh joins the board from his current role as Chief Investment Officer of the Houston Firefighters Relief and Retirement Fund, a $5.1 billion pension fund and the first in the U.S. to add Bitcoin directly to its balance sheet in…
The fee for VanEck’s proposed spot Ethereum ETF will be waived after launch until 2025 or when the fund’s assets under management (AUM) reach $1.5 billion mark—whichever comes first—according to an amended SEC Form S-1 filing. When either of the aforementioned stipulations is fulfilled, the global asset manager will levy a 0.2% fee. Across its currently trading funds, which includes the VanEck Bitcoin Trust, the firm currently has $102 billion assets under its management. VanEck is not the only asset manager trying to lure investors into the queue for its Ethereum ETF. Franklin Templeton announced that it would forgo its…