Author: NBTC
In the ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), a legal expert known as “MetaLawMan” on X has brought to light significant weaknesses in the SEC’s arguments, particularly concerning the alleged pecuniary harm suffered by XRP investors. Last July, the court ruled that XRP was not a security in and of itself, but that Ripple’s institutional sales of XRP were unregistered securities. The SEC has submitted its final reply brief in the remedies phase, and now the judge’s decision is awaited. The crux of the SEC’s case hinges on the claim that Ripple’s…
Blockchain For Impact (BFI), a healthcare fund set up during the second wave of the COVID-19 pandemic in India, has tied up with the United Nations Children’s Fund (UNICEF) to strengthen public health practices. The alliance, operating within the India District Full Stack Fund (IDFS) vertical of BFI, aims to advance public health services and collaborative problem-solving. Under the partnership, $2.1 million will be reprogrammed to align with two projects, Blockchain for Impact said in a LinkedIn post. The first project, reportedly an allocation of $900,000, is expected to reinforce the State Health Resource Center in the North Eastern state…
The Bitcoin network has completed its fourth ‘halving’, a major event that halved the incentives given to miners. Finance giants JPMorgan and Deutsche Bank made evaluations on the subject; He stated that while he expects to see some decline in Bitcoin after the halving, he “does not expect prices to increase significantly.” “While the upcoming Bitcoin halving will deliver a supply shock like its predecessors, we believe its impact on the BTC price could be magnified by the concurrent demand shock generated by the emergence of spot BTC ETFs,” Benchmark’s Mark Palmer said. According to Maxim’s Matthew Galinko, miners with…
According to Bloomberg, as digital asset funding gains momentum once more, venture capitalists are casting their gaze toward companies founded by professors, affectionately dubbed “professor coins” within the industry. Among the recent success stories are Sahara, CheckSig, and NEBRA, all of which have secured fresh capital in the past two months. However, two startups have particularly captured the spotlight: EigenLayer and Babylon. Founded by former University of Washington associate professor Sreeram Kannan and Stanford University Professor David Tse, respectively, these projects have garnered significant attention and investment. EigenLayer, which raised an impressive $100 million from Andreessen Horowitz in February, and…
Worldcoin is now expanding to Peru with the goal of revolutionizing digital identification. World ID orb verifications are now accessible in the Peruvian city of Lima. Sam Altman’s Worldcoin has accomplished yet another great feat. The fact that the organization has expanded its World ID verification program to Peru demonstrates its determination to increase its influence throughout the world. With the support of Worldcoin’s Orb verification—an essential part of World ID verification—the project has made great progress, with notable advancements in Argentina and Singapore, and it is now expanding to Peru with the goal of revolutionizing digital identification. Worldcoin’s native…
New measures targeting cryptocurrency service providers have been adopted in Taiwan, aiming to strengthen anti-money laundering (AML) efforts and combat illicit financial activities. Taiwan Enforces Stricter Regulations on Cryptocurrency Services by Enforcing Anti-Money Laundering Measures According to a recent report by ABMEDIA, failure to comply with these regulations can have serious consequences, including imprisonment for up to two years. Under newly enacted regulations, any cryptocurrency service provider operating within Taiwan’s jurisdiction must complete anti-money laundering registration. Failure to comply with this requirement not only exposes providers to legal liability but also threatens the integrity of the financial system by potentially…
zkSync Developers are actively working to resolve an issue today which has affected the Sepolia Testnet. They have announced that the problem has been identified. However, implementing a solution is expected to take some time. As a result of this, withdrawals on the zkSync Era Sepolia Testnet have been temporarily disabled. 🌟 We’ve identified the problem, but the solution will take some time. We expect withdrawals to be fixed on zkSync Era Sepolia Testnet in the later part of today. — zkSync Developers (∎, ∆) (@zkSyncDevs) May 11, 2024 zkSync Investigates Sepolia Testnet Issue for Platform Stability The team was…
Following the Bitcoin (BTC) halving, average network fees skyrocketed to record highs above $100 this weekend. Searches and mentions of “Bitcoin fees” surged in Google Trends and Santiment as users experienced locked balances and financial losses. Notably, on April 20, the one-month interest rate for “Bitcoin fees” rose to its maximum in Google Trends. Until then, searches scored a consistent sub-25 interest—a low interest also kept in higher time frames. The social aggregator platform Santiment registered a similar interest, with the word “fees” leading 24-hour social trends. Interestingly, “fees” trends on April 21 with the following connected words: “Bitcoin, fee,…
Bank of America (BofA) analysts predicted that June will be an “unforgettable” month with important decisions expected from many central banks. This week has been a week full of surprises from central banks, with the Bank of Sweden (Riksbank) cutting interest rates and the Bank of England (BoE) expressing more confidence than previously expected that inflation will move in the desired direction. “We got a glimpse of what June will look like for markets, when many central banks will make important decisions,” BofA analysts said. Analysts continued: “All together, we may be entering one of the most important months for…
Terraform ecosystem’s sister tokens LUNA and UST collapse was preceded by founder Do Kwon’s tweet stating that he is deploying more capital. The tweet did not age well, two years post the crisis, Terraform Labs and founder Do Kwon are faced with $5.3 billion in penalties. Two year anniversary of Do Kwon’s promise to deploy more capital On May 9, Do Kwon assured the Terraform community that he is deploying more capital to tackle the de-peg of algorithmic stablecoin UST. On May 11, Kwon presented a strategy to re-establish UST’s peg. Kwon’s tweet from 2022 has resurfaced on X. 2…