Author: NBTC

Over the weekend, there was a rush for the exits from the world’s largest Proof-of-Stake blockchain. As of 20:00 UTC Sunday evening, staters queued up 893,599 ether (ETH) to unstake their $4 billion out of the Ethereum network. Ethereum limits the quantity of ETH that may unstake per 6.4 minute epoch. If more ETH is being unstated than what can be processed in the upcoming epoch, extra ETH must wait in queue. As of 2:00 UTC Sunday morning, Ethereum’s unstaking wait time also lengthened to its worst validator queue in history: 15.5 days. Source: ValidatorQueue.com There was one leading explanation…

Several public companies are driving head straight into digital assets with funds specifically allocated to create treasuries of Bitcoin and other cryptos. After the US Securities and Exchange Commission (SEC) approved spot Bitcoin ETFs in January 2024 to change Wall Street’s perspective on digital assets, institutional total holdings have so far surpassed $100 billion. Over the past six months, more than 152 publicly traded companies now control more than 950,000 Bitcoins, worth over $110 billion, according to Bitcoin Treasuries.net. For some, the motivation lies in diversifying balance sheets, hedging against inflation, or appealing to younger investors. But for others, crypto…

A massive coalition of tech lobbying groups and crypto companies jointly issued a letter to the Senate Banking Committee Wednesday, warning they will collectively protest an upcoming crypto market structure bill unless it features key legal protections for software developers.  “We […] speak to Congress with one voice: provide robust, nationwide protections for software developers and non-custodial service providers in market structure legislation,” the letter reads. “Without such protections, we cannot support a market structure bill.” A total of 114 parties signed the letter, including Andreessen Horowitz, Coinbase, DCG, Grayscale, Kraken, Paradigm, Solana Labs, and Uniswap Labs. Numerous lobbying groups…

Thailand’s Ministry of Finance has tapped KuCoin as the first international crypto exchange to join a consortium supporting its G-Token initiative, the world’s first publicly offered tokenized government bond. KuCoin Thailand, the exchange’s locally regulated arm, will handle subscriptions, redemptions, and listings alongside partners XSpring Digital, SIX Network, and Krungthai XSpring. The bonds will initially be listed on licensed domestic exchanges, with the potential for a listing on KuCoin’s global platform, pending regulatory approval. The initial issuance amounts to 5 billion baht (US$153 million), with the program aimed at widening retail investor access to sovereign debt.  “Our selection as…

Leading altcoin Ethereum has trended downward since its failed attempt to reclaim its all-time high on August 13. As sell-side pressure strengthens amid increased profit-taking, ETH’s price has slipped 10% in the past five days and is expected to continue declining. Ethereum Bears Gain Control ETH’s long/short ratio has dropped to a 30-day low, reflecting traders’ growing caution and a decline in bullish sentiment. As of this writing, this ratio stands at 0.90. For token TA and market updates: Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here. ETH Long/Short Ratio. Source: Coinglass…

Donald Trump Jr., the eldest son of US President Donald Trump, made remarkable statements about the future of cryptocurrencies in an interview. Donald Trump Jr.: “Cryptocurrencies Will Be the Future of Finance” Trump Jr. stated that his interest in crypto is not due to his technical knowledge, but rather their exclusion from the traditional financial system. “A few years ago, with just one phone call from me in this city, almost no bank would refuse to lend to my real estate projects. “However, after we were given political identity, we became ‘persona non grata’ overnight,” Trump Jr. said, adding that…

The crypto industry’s Washington lobbyists are trying to draw a line in the sand over the market structure bill that’s steaming through the U.S. Senate, saying they can’t back a law that wouldn’t fully protect software developers from being held responsible for bad actors abusing their technology. The industry made its case to the Senate’s Banking and Agriculture committees “with one voice,” sending a letter Wednesday signed by Coinbase, Kraken, Ripple, a16z, Uniswap Labs and more than a hundred other crypto businesses and organizations, including almost all of the major U.S. lobbying groups. This unified effort comes the week before…

For days, the crypto community has been gripped by the saga of “The White Whale,” a trader who accused centralized exchange MEXC of freezing over $3 million in his account. In a viral thread, he alleged his only offense was being “too profitable”. He claimed the exchange lured him into a dangerous in-person KYC demand and framed the ordeal as part of a wider industry pattern where traders are “punished for winning.” Now, in an exclusive with BeInCrypto, MEXC has addressed the allegations directly. The exchange rejects claims of retaliation, explaining the rationale for account restrictions, and outlining how its…

TeraWulf’s (WULF) breakneck rally cooled on Tuesday as the firm increased its convertible note sale to $850 million and announced the pricing of the offering, aimed at funding its data center expansion. The notes will mature in 2031 with 1% annual interest, and will be exchangeable into cash, stock or both at TeraWulf’s election, the company said in a Monday press release. Initial conversion price is set at $12.43 per share, representing a 32.5% premium to last week’s close. Net proceeds are estimated at $828.7 million, and are earmarked for data center expansion with $85.5 million earmarked for capped call…

The DeFi Education Fund has penned a letter to the U.S. Senate Banking Committee with support from over 110 crypto builders, investors and advocates urging Congress to “provide robust, nationwide protections for software developers and noncustodial service providers in market structure legislation.” The letter, which has been signed by the Bitcoin Policy Institute, the Blockchain Association and the Digital Chamber to name a few of the signatories, states that crypto market structure legislation must protect developers if the broader industry is to support it. “Without such protections, we cannot support a market structure bill,” reads the letter. The letter draws…