Author: NBTC
According to CNBC, Dan Gallagher, chief legal officer at Robinhood, is not going to spearhead the U.S. Securities and Exchange Commission. Gallagher was the favorite of betting markets. As reported by U.Today, he had a 61% of becoming the next SEC head, according to bettors on Kalshi. However, his nomination chances sharply dwindled. Now, Paul Atkins, CEO of Patomak Global Partners, has emerged as the next clear frontrunner. He now has roughly a 60% chance of becoming the next SEC boss, according to Kalshi users. On Thursday, Fox Business reporter Charles Gasparino revealed that Atkins was “in the led position”…
With self-custody and third-party custodians becoming hot topics within the crypto community, the founder of timechainindex.com, an X user known as Sani, recently posted an eye-opening image of onchain data. The snapshot revealed that Coinbase currently holds 11.72% of the total 19.77 million bitcoin (BTC) in circulation. Sani’s data and insights emphasize the risks tied to such a large concentration of bitcoin, pointing out that the massive amount held by the San Francisco-based crypto giant creates an enticing ‘honey pot’ for cyber criminals. The Coinbase ‘Honey Pot’ On Oct. 21, Sani, a bitcoiner who operates the Bitcoin-focused site timechainindex.com, posted…
Ethereum (ETH) spot exchange-traded funds (ETFs) have witnessed a significant outflow of $163 million this week. This comes as the bullish sentiment trailing the leading altcoin begins to wane, making it a struggle for the coin’s price to break through the $3,400 resistance level. As ETH’s price faces bearish pressure, it may begin to shed more of its gains in the coming weeks. This analysis explains why. Ethereum Buying Pressure Faces Dip According to data from SosoValue, Ethereum ETF outflows this week have totaled $163 million. This represents the third-highest weekly net outflows since these funds became tradeable on July…
Amazon has announced an additional $4 billion investment in Anthropic, the AI startup known for its Claude chatbot and advanced AI models. This latest funding brings Amazon’s total investment in the San Francisco-based company to $8 billion, while Amazon retains a minority stake. The companies are deepening their collaboration following their initial strategic partnership announced last September, when Amazon first invested $4 billion and Anthropic designated AWS as its primary cloud provider. Under the expanded agreement, Anthropic will use AWS Trainium and Inferentia chips to train and deploy its future foundation models. “The response from AWS customers who are developing…
Chainlink announced a significant upgrade to its platform during SmartCon 2024 today, revealing a modular, composable architecture designed to make the platform more flexible and accessible to developers, businesses, and financial institutions. Chainlink Unveils Modular Architecture with ‘Runtime Environment’ in Major Platform Upgrade At the heart of this upgrade is the Chainlink Runtime Environment (CRE), which is currently in early access. This new architecture is designed to enable interoperability between multiple blockchains, meeting the growing demand from capital markets and the Web3 ecosystem. Chainlink, a decentralized oracle network that acts as a bridge between blockchains and real-world data, APIs, and…
SEC Commissioner Mark Uyeda advocated for safe harbors and regulatory sandboxes to foster crypto innovation during a Fox Business interview with Stuart Varney. Uyeda, a potential SEC chair candidate under Donald Trump’s administration, emphasized the need to end what Trump has termed the “war on crypto” and establish clearer regulatory guidelines. “Many crypto assets are not securities but are being labeled as such,” Uyeda said during the interview with Stuart Varney. He emphasized the importance of collaboration between Congress, the White House, and regulatory agencies to create a comprehensive framework for the industry. When questioned about his potential appointment as…
Bullish sentiment in the cryptocurrency market has continued, with many investors making huge profits from early bets. This bullish run has also woken a dormant billion-dollar Ethereum (ETH) that is now snapping gains from its massive holding. Eight-Year Ethereum HODL ends in massive profits According to Lookonchain data, the whale amassed 398,889 ETH between Jan. 18 and Mar. 10, 2016, at an average price of approximately $6 per ETH. Eight years ago, the total purchase made by the whale amounted to $2.4 million. A whale that accumulated 398,889 $ETH(currently worth $1.34B) at an average price of ~$6 is selling $ETH…
Intelligent Alpha builds portfolios by relying on AI investment picks. The firm relies on a trio of AIs — ChatGPT, Claude and Gemini — and implements their decisions, even if they sound counter-intuitive. The models have a great track record so far. There’s a $30 million fund that, for all intents and purposes, leaves all investment decisions to be made by artificial intelligence (AI). The firm’s name: Intelligent Alpha. Its staff includes founder and CEO Doug Clinton, a few programmers and contractors, and a trio of AIs — OpenAI’s ChatGPT, Google’s Gemini and Anthropic’s Claude. The AI triumvirate makes up…
THORSwap, a decentralized exchange (DEX) running on the THORChain network, has faced a steep decline in the price of its native token, THOR, following an incident involving illicit fund movements. The THORSwap token price has plummeted by 55.5% over the past month, with losses of 36.9% in the past two weeks alone. This downturn has persisted despite THORSwap’s efforts to re-establish trust with users by implementing stringent security measures and introducing new features, including an innovative wallet integration. Paused operations On October 6, 2024, THORSwap paused operations after detecting suspicious transactions tied to funds from the FTX hack. Blockchain analytics…
Another Democratic commissioner on the Securities and Exchange Commission is following Chair Gary Gensler out the door in January, leaving the agency with a Republican majority as it weighs a likely course shift under the new administration of President-elect Donald Trump. Commissioner Jaime Lizárraga is leaving January 17, he said in a Friday statement, which could give Republicans a head start on what could otherwise have been months of delay in redirecting the regulator’s policies — including on cryptocurrency. At this point, Caroline Crenshaw will be the sole Democrat on the five-member commission going into 2025, and her term has…