Author: NBTC
When the U.S. Securities and Exchange Commission (SEC) indicated earlier this week that it was suddenly open to the prospect of approving spot Ethereum ETFs, after months of stubborn signals to the contrary, the about-face didn’t just catch Crypto Twitter by surprise. It also shocked the nation’s top crypto lobbyists, who spend their days tracing minuscule shifts in Washington’s mood on the industry. “It is a remarkable pivot,” Kristin Smith, CEO of the Blockchain Association, a prominent crypto lobbying group, told Decrypt. “It is one that I did not foresee.” How did the pivot come to pass? And after years…
Recent rumors suggesting the insolvency of crypto exchange Bybit have sent shockwaves through the crypto community, escalating panic and speculation. A significant error on Arkham’s on-chain analysis platform mistakenly showed a drastic drop in Bybit’s assets, triggering anxiety. Bybit Gives Clarification Regarding the Insolvency Rumors Initially fueled by the alarming graphical representation, the rumors led to a substantial outflow of funds. Reports from DefiLlama co-founder 0xngmi indicate withdrawals exceeding $50 million. Despite this, 0xngmi contextualized the situation, stating that the withdrawals are nothing compared to Bybit’s total assets. In response to these unsettling events, a Bybit spokesperson clarified the situation…
The concept of the Metaverse has gained significant attention in recent times, prompting many to consider its investment prospects. The Metaverse refers to a virtual universe where users can interact with a computer-generated environment and other participants in real-time. It encompasses a wide range of technologies, including virtual reality (VR), augmented reality (AR), blockchain, and artificial intelligence (AI). Metaverse Market Size and Growth The global metaverse market has been experiencing rapid growth. In 2022, the market was valued at approximately $63.83 billion. However, the market is expected to grow at an impressive compound annual growth rate (CAGR) of 44.4% from…
Popular financial expert and banker Peter Schiff has taken aim at crypto mogul Mike Novogratz’s recent bullish forecast for Bitcoin, questioning the validity of Novogratz’s assertions. Schiff, known for his skepticism toward the leading cryptocurrency, has challenged Novogratz’s prediction that the influx of buyers through Bitcoin ETFs will drive the digital asset’s value to new heights. In response to Novogratz’s statement that Bitcoin ETF buyers, many of whom are newcomers to the crypto space, will act as long-term holders, Schiff dismissed this notion, characterizing them instead as mere opportunistic traders. He suggested that these newcomers, whom he labeled as “Johnny-come-lately”…
Ethereum ETF issuers have been given until this morning to submit their final 19b-4 forms, according to two sources at The Block. However, even if these forms are approved, trading of these products is not expected to begin for a few weeks. An issuer was notified yesterday that it had until 5pm today to amend and file form 19b-4. According to a different source, another issuer was given an earlier deadline. The U.S. Securities and Exchange Commission (SEC) expects to make a decision on approving one or more applications after the market closes today, a source at an applicant company…
On-chain analyst Data Nerd reports a crypto whale deposited over 101 billion Shiba Inu (SHIB) into Coinbase, facing a $560K loss amid a substantial market downturn. A recent post on X from on-chain analyst Data Nerd reveals significant activity by a crypto whale involving the token Shiba Inu (SHIB). The whale, identified by the wallet address 0x9f5, has been notably active, engaging in substantial trades that could test market liquidity. Citing data sourced by Arkham Intelligence, Data Nerd noted that this individual deposited 101.068 billion SHIB, approximately $2.15 million, into a Coinbase account. 3 hours ago, a whale 0x9f5 just…
Coinbase took a loss in its latest Supreme Court argument on a very narrow point about arbitration. Bad news for Coinbase doesn’t translate directly to anything in the digital assets sector. The U.S. Supreme Court ruled against Coinbase Inc. (COIN) in its dispute over which legal agreement should hold sway when parties are under two distinct contracts and the first of them calls for arbitration, finding the company’s case was “unpersuasive” and that the courts need to work those questions out when they arise. The matter was far removed from the company’s cryptocurrency business, but arbitration issues have been increasingly…
While the altcoins listed by Binance, the world’s largest cryptocurrency exchange, are closely followed by investors, there has been a new development regarding the altcoin listing. Chinese cryptocurrency journalist Wu Blockchain said in his post that some monitoring robots detected that Binance added a new Toncoin (TON) port on May 23. Stating that this situation seems to be a signal for Binance to list TON, but it is just a prediction, Wu said: “Some monitoring robots detected that Binance added a new Toncoin (TON) port on May 23. This interface tracking is only a preliminary estimate and is not definitive…
StarkWare, the main developer firm behind the layer-2 blockchain Starknet, shared Wednesday plans for its own zero-knowledge rollup compatible with the existing Ethereum infrastructure, a setup commonly known as a zkEVM. The zkEVM, called Kakarot, already in testing, will be available via the Starknet Stack, a set of software tools that make it easier for developers to spin up their own customized application-specific chains. Starknet already has its own zero-knowledge virtual machine (zkVM), but using a programming language called Cairo. With the zkEVM, developers will instead be able to code with Solidity, the most common programming language for Ethereum smart…
It appears ever more likely that fund issuers will launch crypto ETFs in Hong Kong very soon. This move could catalyze acceptance of such funds elsewhere, with some speculating that other regulators in Asia could be next to follow suit. In the US, the Securities and Exchange Commission had held out on approving spot bitcoin ETFs for years, restricting investors from engaging with cryptocurrencies through regulated financial avenues. This barrier prevented the broader financial adoption and accessibility of blockchain assets. That all changed in January when the SEC approved 10 spot bitcoin ETFs for trading on US exchanges. This approval…