Author: NBTC
Yuga Labs, the firm behind the Bored Ape Yacht Club (BAYC), is chasing down the crypto assets of Jermey Cahen, aka Pauly0x, while claiming that the disgraced crypto influencer is deliberately avoiding a $9 million judgment against him. The firm claims that Cahen is employing “dilatory tactics” and has tried to “sidestep his financial responsibilities” by moving bitcoin (BTC), ether (ETH), and pepecoin (PEPE), together worth almost $400,000, into four separate wallets. Attorneys for Yuga Labs requested that a California court issue a “Turnover Order.” This, if granted, requires Cahen to hand over the keys to these wallets to the…
Kraken, one of the largest crypto exchanges in the United States, has officially listed BNB, the native token of the BNB Chain ecosystem developed by Binance. This move has captured the attention of the crypto community. Still, it is also seen as a strategic turning point, potentially paving the way for a wave of BNB listings on other US exchanges like Coinbase, Gemini, and more. Legal Landscape: From Barriers to Opportunities US exchanges sidelined BNB for a long time due to legal concerns surrounding Binance, its parent company. In 2023, the US Securities and Exchange Commission (SEC) filed a lawsuit…
Bitcoin remained relatively quiet in the market today, showing little movement while many altcoins made moves. Despite the lack of action from Bitcoin, the overall market remained active, with traders turning their attention to altcoins that have seen strong and sometimes aggressive upward moves. This sideways movement from Bitcoin is not a concern and may actually be helping the altcoin market flourish. For now, Bitcoin is consolidating just below an important resistance level of $94,200, a level that traders have been watching closely. This level marks the golden ratio on the Fibonacci retracement scale, which is known to be a…
US President Donald Trump told reporters Tuesday night that he had “no intention” of firing Federal Reserve Chair Jerome Powell, and the markets didn’t wait long to react. That one comment from the White House kicked off an after-hours rally across stocks and crypto, reversing earlier tension that had been building after Trump spent the last week trashing Powell and calling for his removal. The president’s sudden but typical 180, after days of calling Powell a “major loser,” came hours after he’d demanded interest rates be cut and posted that Powell’s “termination cannot come fast enough.” Futures for the Dow…
Pi Coin (PI) is currently trading at $0.65, up slightly by more than 1% at the time of writing. While the broader crypto market is showing signs of strength, Pi Coin has remained relatively flat, trading within a narrow range of $0.60 to $0.68 in recent weeks. Despite the limited price movement, there’s excitement in the Pi Network community with the launch of a new game app, Fruity $PI, now live on the Pi Network Mainnet Ecosystem. The app adds to the growing number of decentralized applications being built on the Pi platform, aimed at improving user engagement and ecosystem…
The Department of Justice told a federal judge it plans to proceed with a securities fraud case against the founders of cryptocurrency Safemoon, despite an agency memo circulated earlier this month instructing federal prosecutors to avoid pursuing cases that would involve determining the securities status of crypto assets. In a letter sent Friday to the Brooklyn federal judge overseeing the case, DOJ attorneys said they had conducted an “internal review” of whether the department’s new crypto policies might implicate the Safemoon case, and concluded it should “proceed to trial on all counts.” In early April, the DOJ shuttered its crypto-focused…
Two flagship trading protocols of Orbs, dLIMIT and dTWAP, have been integrated by the decentralized exchange SwapX on Sonic blockchain. This advancement provides users with enhanced order execution functionality usually featured in centralized exchanges, while still benefiting from decentralized finance (DeFi). dLIMIT protocol provides users with the ability to place limit orders to buy or sell tokens at specified prices. This feature facilitates strategic trading, where orders can be executed only if certain conditions regarding market conditions are reached. The other side, dTWAP, comes up with a time-based execution mode by which large orders are divided into smaller pieces and…
Jack Mallers is helming a trendy new crypto company, Twenty One. The newly announced MicroStrategy competitor, controlled by stablecoin giant Tether and its sister crypto exchange Bitfinex, plans to tap capital markets to leverage billions of dollars worth of bitcoin (BTC). Tether/Bitfinex has decided that a former marijuana industry entrepreneur-turned-Tether app operator would be the perfect CEO to take on Michael Saylor. Mallers cultivated a BTC-only brand for years — even while using altcoins like tether (USDT) for core business operations. This month, he’s continued to boast about his BTC-only ethos on national TV appearances promoting his new venture. As…
This is a segment from the Blockworks Daily newsletter. To read full editions, subscribe. “I respect his independence,” former President Nixon reassured the White House crowd at the 1970 swearing-in of Fed Chair Arthur Burns. “However, I hope that independently he will conclude that my views are the ones that should be followed.” There’s no video of the event, so it’s hard to say for sure, but I’m guessing that was meant as a joke. It’s also exactly how things worked out. Burns famously allowed Fed policy to become subservient to Nixon’s political goals, fueling the 1970s epidemic of inflation.…
INIT crypto is riding a wave of explosive momentum as price edges towards $1 fueled by 45,000% surge in volume. Initia (INIT) price has surged 36% in the past 24 hours, currently trading at $0.90, with trading volume surging by over 45,000% . The rally is fueled by major exchange listings, with the most recent addition being Gate.io, offering both spot and perps. The project is fresh out of Binance Launchpool, launching yesterday after 6-day farming period through staking USD Coin (USDC), Binance Coin (BNB), or FDUSD, where 3% of the total supply was allocated for rewards. Additionally, 5% of…