Author: NBTC
Bitcoin financial services firm Swan Bitcoin pulled its plan to take the company public, discontinued its managed mining unit and cut staff across several units. Swan CEO Cory Klippsten said in a social media post that the company will still offer bitcoin (BTC) financial services and free bitcoin education. “Without the expectation of significant near-term revenue from our Managed Mining unit, we are pulling our plans to IPO in the near future,” Klippsten wrote in the X post. “Accordingly, Swan is pulling back from our accelerated spending plan for our core financial services business. Unfortunately, this includes staff cuts across…
Bitcoin might face more headwinds from U.S. payroll and unemployment reports today, but they won’t be anything compared to what’s already happening in the markets. Markets were rocked earlier today when the Mt. Gox trustee transferred $2.7 billion worth of BTC out of a cold storage wallet. Although repayments to creditors haven’t started yet, the movement has still spooked investors. At the time of writing, the Bitcoin price has rebounded slightly after sinking below $55,000 during Asia trading hours. Bitcoin is now trading above $55,400 again, but still down 3.8% compared to this time yesterday, according to Coingecko data. But…
Ripple Chief Technology Officer (CTO) David Schwartz identifies Chris Larsen as the most important person in the company’s history. The prominent developer and current CTO of the crypto payments behemoth made this known during a recent Ask Me Anything (AMA) session he hosted on X. Schwartz Identifies Most Important Person in Ripple During the AMA session, Schwartz pointed out that he was under the influence of pain medication following a dental tooth procedure. Despite his altered state, Schwartz urged XRP enthusiasts to ask him anything, emphasizing his willingness to engage them in conversation. Consequently, an XRP community member asked him…
Crypto exchange OKX has launched a Telegram game that asks gamers to guess Bitcoin’s price every five seconds. The game also asks users to link their OKX account for future “surprises,” suggesting potential benefits for players. Every five seconds in OKX Racer, players must decide if Bitcoin’s price will increase (“moon”) or decrease (“doom”). Players are given 10 guesses before they must wait for their next guess to refill, which occurs every minute and 30 seconds—similar to the stamina bars in tap-to-earn Telegram games. When the player guesses Bitcoin’s movement correctly, in OKX Racer, they earn points—but guessing incorrectly doesn’t…
The story of human progress can be simplified into the story of increasing energy utilization. We harness energy to create order, both in terms of biology and society. Energy surpluses allow for every form of wealth creation, which in turn produce new technologies to effectively harness yet more energy. This truth has inspired famous concepts such as the Kardashev scale, which measures civilizations by their ability to harness energy resources towards useful ends. Compute is a natural continuation of this endeavor. Modern digital technology transforms ever greater quantities of electricity into advanced value-creating processes. The most recent surge in demand…
VanEck remains optimistic as Bitcoin (BTC) price continues to nosedive in the aftermath of woes around the German government and Mt. Gox. Market corrections are a dreaded scenario, spelling fear among traders. While the otherwise “weak hands” cower, the bold lot seize the opportunity to grow their bags. VanEck Urges Traders: Buy Bitcoin During Market Panic Describing the ongoing Bitcoin crash as “4th of July discounts,” VanEck sees BTC price falling to the $53,000 range as a ‘buy the dip’ opportunity. On-chain platform Santiment shares the sentiment, urging bold traders to seize the moment. “Markets have continued to bleed, and…
Investors who procure $10,000, $50,000 or $100,000 worth of Shiba Inu could see their holdings hit $10 million if SHIB clinches certain price targets. Shiba Inu has captured investor interest in the ongoing bull market, leading to occasional spikes in trade volume. This is primarily due to its previous price run in the 2021 bull market, when it transformed a meager $12 to $1 million 453 days, as spotlighted by The Crypto Basic last May. Market participants anticipate a similar price spike from Shiba Inu, citing its robust transformation to a decentralized ecosystem through developments from the ecosystem team led…
Key Points: WazirX withdrawals reopened functions for users affected by the July 18 attack. WazirX will provide daily reports on the progress and measures being taken to secure the platform and address the aftermath of the cyberattack. The exchange aims to inform the community through regular updates on its official blog, highlighting its commitment to rebuilding trust. WazirX withdrawals reopened and announced a significant update on the X platform, telling users that the team is working hard to reinstate the withdrawal functionality. This move was made in response to the cyberattack, which resulted in a disruption of services on July…
Bitcoin (BTC) lost a four-month price range with a three-day 14.74% crash to $53,540 on July 5. In the last 30 days, BTC lost over 25% of its market value, ending an all-time “longest winning streak.” Capriole Investments‘ crypto analyst Charles Edwards reported this milestone on X, highlighting Bitcoin’s 427-day winning streak without a 25% drawdown. Essentially, it is the first time in history that Bitcoin has gone without such a correction for 427 days. Edwards called it a “pretty incredible run” and a “well overdue correction” for the leading cryptocurrency. Previously, Bitcoin went through 364 days (one year) without…
Gate.io has announced that it’s terminating all its services in Japan, with a halt to new accounts opening for Japanese residents commencing on July 22. The exchange announced the move on Monday and revealed a compliance process would be in place for its customers that seek to migrate assets to crypto platforms that currently comply with Japanese regulations. “As one of the world’s leading cryptocurrency exchanges, we strive to comply with financial regulations in all regions in which we operate. Based on this commitment, we regret to inform you that we will be terminating our services for Japan,” the exchange…