Author: NBTC

A total of $1.7 billion worth of Ethereum (ETH) withdrawals from decentralized finance (DeFi) protocol Aave in the past week have caused significant market volatility. This move by giant investors significantly reduced liquidity on the platform, briefly pushing borrowing rates above 10%. While this increase meant short-term gains for users who deposited their Ethereum to lend on Aave, it turned into a full-blown crisis for investors who implemented strategies to increase their Ethereum staking returns, called “looping.” Looping investors were earning profits by reinvesting Ethereum they had borrowed at low interest rates. However, a sudden increase in interest rates made…

Ethereum validators are experiencing the longest wait times in over a year to withdraw their staked ETH, as growing demand for staking collides with the network’s built-in exit limitations. According to data from ValidatorQueue.com, validators seeking to exit the Ethereum network must now wait approximately 8 days and 6 hours to complete the process, marking the highest delay since early 2023. At the same time, the queue to join the network as a new validator has also surged, with a wait time of around 6 days and 10 hours, the longest since April 2024. The widening gap between entry and…

The U.K. government on Tuesday said it intends to enable the wholesale market to identify the best distributed ledger technology (DLT) use cases as well as roll out tokenization solutions. The country wants DLT – the blockchain technology that underpins crypto – to be utilized across different sectors in wholesale financial markets and create cross market groups “to take forward live activity,” the country’s Treasury said in a policy paper. A part of the plan includes creating a regulatory framework for crypto technology, something which is already underway as the nation sets out to be a crypto hub. The U.K.…

Bitcoin reserve advocate Sen. Cynthia Lummis provided critical comments on Jerome Powell’s role in Operation Chokepoint 2.0. Additionally, she echoed Rep. Anna Luna’s allegations concerning Powell’s perjury. Is that a new turn in Donald Trump’s war on Powell? Summary Sen. Cynthia Lummis stated the Fed Chairman Jerome Powell mismanaged Operation Chokepoint 2.0 Lummis supported Rep. Anna Paulina Luna’s perjury allegations, which some see as lawfare against the Fed Chair Pressure on Powell continues as President Trump threatens to fire him for not cutting interest rates Table of Contents Sen. Lummis’ criticism of Powell Operation Chokepoint 2.0 and Powell’s role in…

PNC Bank, one of America’s leading financial institutions, is preparing to offer cryptocurrency buying, selling and custody services to its customers by collaborating with cryptocurrency exchange Coinbase. In a joint statement on Tuesday, it was stated that PNC will build its own crypto transaction infrastructure using Coinbase’s enterprise “crypto-as-a-service” (CaaS) platform. The Pittsburgh-based bank will allow its customers to buy, sell, and securely store Bitcoin and other digital assets. PNC will also provide certain banking services to Coinbase, further enhancing their mutual partnership. This strategic partnership between PNC and Coinbase is seen as a significant shift in the traditional banking…

Cango Inc., a publicly traded company listed on the New York Stock Exchange, has completed its transformation into a Bitcoin miner. Summary Cango Inc., founded in 2010 in China, is listed on the NYSE. The company previously operated an automotive business, but announced a pivot to Bitcoin mining in November 2024. Cango holds over 4,000 BTC and has a fleet capacity of 50 exahashes per second. Cango, a Chinese firm listed in the United States that announced plans to pivot into a Bitcoin (BTC) mining company in November 2024, has confirmed it is now fully transitioned. The company announced its…

Bless Network, a decentralized computing network, has integrated with Space and Time, a blockchain-based SQL database that uses zero-knowledge proofs. This partnership enables AI agents to run directly on user devices and verify their actions using data that is cryptographically proven to be accurate. The goal is to solve a key problem in AI development — how to ensure that automated agents make decisions based on reliable information. Instead of relying on central servers or cloud services, the system uses zero-knowledge proofs to confirm that the data AI agents use has not been changed or manipulated. These AI agents can…

Bitcoin could surge to a price of $150,000 before the year’s end, according to a new report from Cooper Research.   The research firm predicts the world’s oldest cryptocurrency could hit a price of $140,000 in September, sailing to $150,000 as soon as early October, the Friday shows. Its ascent “seems inevitable” as investors pour massive amounts of funds into Bitcoin exchange-traded funds, according to the analysts. “Across a range of data metrics, Bitcoin appears primed for another significant leg upward,” the analysts wrote.  Cooper researchers’ earlier findings that Bitcoin markets could begin to overheat between the $140,000 and $200,000 range…

MoonPay, a fintech company specializing in crypto payments and Web3 infrastructure, has announced a new liquid staking program for Solana holders. The product will leverage liquid staking to earn users 8.49% annual yield on their SOL tokens. According to the company, users can stake as little as $1 in Solana (SOL) and receive a liquid staking token called mpSOL. Rewards are distributed approximately every two days, and users can unstake at any time without a lockup period. The feature is available starting July 23 everywhere except in the US state of New York and the European Economic Area (EEA). MoonPay’s…

Following an explosive multi-week rally, Ethereum price is showing signs of fatigue as the market reacts to resistance near the $3,820 supply zone. Ethereum price today is around $3,690, down 1.9% intraday, after slipping below both local VWAP and trendline support. Traders are closely watching the $3,650 to $3,680 region, which could define the next directional move. What’s Happening With Ethereum’s Price? ETH price dynamics (Source: TradingView) ETH is undergoing a technical rejection after a strong vertical run from $2,800 to nearly $3,820. The 30-minute chart reveals a clean break below a rising wedge structure, followed by a bearish retest…