Author: NBTC
The bankrupt FTX exchange has filed a lawsuit against Ryan Salame, the former co-CEO of its Bahamian subsidiary, seeking to recover approximately $98.8 million in cash and crypto, according to a Nov. 4 court filing. The failed firm accuses Salame of knowingly assisting other executives—most notably, founder Sam Bankman-Fried—in breaching fiduciary duties and misappropriating customer assets. According to FTX: “Despite Salame’s concerted efforts to obscure his receipt and expenditure of misappropriated Debtor assets, it is evident that Salame reaped substantial benefits from his role in ‘perpetrating aspects of the interrelated frauds that Bankman-Fried carried out at both companies.’” The exchange…
A huge development was recorded on October 30, 2024, when BlackRock, the largest asset manager in the world, purchased 8,805 Bitcoin (BTC). This large transaction, worth roughly $630M, is the largest single-day Bitcoin purchase by BlackRock in the past seven months, according to blockchain analytics firm Lookonchain. The recent purchase takes the total Bitcoin holdings to 417,058 BTC, equivalent to $29.84B. BlackRock bought another 8,805 $BTC($630M) yesterday and currently holds 417,058 $BTC($29.84B).This marks #BlackRock’s largest single-day BTC purchase in the past 7 months.https://t.co/kqNUqHBiTnhttps://t.co/D4gLhHvTvg pic.twitter.com/Mp6dDv43vb — Lookonchain (@lookonchain) October 30, 2024 A week ago, Blackrock acquired an additional 4,869 Bitcoins, valued…
Ethereum (ETH), the second-largest cryptocurrency by market value, has just surpassed $3,000. According to CoinMarketCap, Ethereum reached a high of $3,050. This is the first time since Aug. 2 that Ethereum has hit this level. Comparatively, ETH has gained over 20% in the past week, better than Bitcoin’s (BTC) 10% rise. ETH to reach its ATH soon This increase is due to several factors. One key factor is the changing macroeconomic outlook in the United States. With a growing shift toward positive regulation in the U.S., more people may now use blockchain technologies, decentralized finance (DeFi) and other applications in…
Dr Bernhard Kronfellner, the head of blockchain at the Boston Consulting Group will be among the speakers at the upcoming VeChain hackathon. Kronfellner will talk about catalysts for change and how the consulting firm and VeChain are building the future of X-to-Earn dApps. The upcoming hackathon organised by VeChain and the Boston Consulting Group just got a whole lot more exciting with the announcement of the latest guest speaker: Dr Bernhard Kronfellner. Kronfellner is the head of blockchain at the consulting giant, which he joined in 2007. He was involved in BCG’s financial institution’s practice area, where he worked with…
Paul Grewal, Chief Legal Officer at Coinbase, had made a bullish statement on social media, even before the news was out on Donald Trump’s win at the 2024 U.S. presidential election. In a post on X, Grewal had suggested that Trump’s victory should serve as a wake-up call for the U.S. Securities and Exchange Commission (SEC). Source: X Grewal emphasized that the voting results reflect a widespread demand for change, especially within the crypto industry. He urged the SEC to reconsider its current approach of litigating against crypto firms and instead to pursue open dialogue and establish immediate cryptocurrency regulations.…
Although Bitcoin (BTC) is yet to breach its USD all-time high (ATH) value, the flagship cryptocurrency has made a new ATH against the euro (EUR) and some other fiat currencies. Bitcoin Makes Fresh ATH Against Euro Bitcoin surpassed €68,000 ($73,561) on October 29, establishing a new ATH against the euro. The largest cryptocurrency by market cap reached this milestone on multiple crypto exchanges, including Binance. This marks the first time since March 2024 that BTC has set a new ATH against the euro. Although Bitcoin came very close to a new ATH in USD, it fell short by approximately $200,…
Spot Ethereum exchange-traded funds recorded their highest-ever weekly inflows as the flagship altcoin shot past the $3,000 mark for the first time since August. According to SoSovalue data, $154.66 million flowed into Ether-based ETF products over the past week, the highest since the Securities and Exchange Commission (SEC) approved the offerings in July. The uptick in inflows began after Donald Trump won the U.S. presidential elections, sparking a market wide rally as market participants remain hopeful that the new administration in Washington will introduce more favorable regulations for digital assets. Since Nov. 6, Ether ETFs have experienced three consecutive days…
In a recent downturn, the TURBO token has been making waves with its recent surge, seeing its price spike 10x and catching the crypto community’s attention. Currently sitting at $0.003716, TURBO has experienced a 6% rise over the past week, despite a slight dip of 2.39% in the last 24 hours. Its connection to meme coins and AI has made it one of the standout tokens this year, and some investors have reaped massive rewards from its rally. Are you excited to know more? Let’s hop in! Investor Turns $278K into $2.44M with TURBO’s Rally One lucky investor turned a…
A crypto-friendly SEC and Senate Banking Committee are expected following the U.S. election, the report said. Bernstein said faster progress is now expected for both stablecoin and market structure bills. The broker said it expects a rerating of wider crypto assets. The U.S. election result should improve regulatory clarity for digital assets, with the Securities and Exchange Commission (SEC) and Senate Banking Committee becoming more crypto friendly following Donald Trump’s victory in the presidential race and the Republican party securing control of the Senate, broker Bernstein said in a research report Thursday. “We expect a new regime of crypto rule…
A new press release has claimed to uncover the true identity of Satoshi Nakamoto, the elusive inventor of Bitcoin, in a live press conference on October 31, 2024, which is also the 16th anniversary of Bitcoin’s whitepaper publication. As stated in the announcement, the claimed Satoshi said that mounting legal pressures have forced them to come forward to disclose their identity. The organizers promise a “live demonstration” to validate the creator’s authenticity and plan to showcase locations where “Bitcoin and Blockchain Technology were conceived.” The event announcement follows numerous unverified assertions about Satoshi’s identity since Bitcoin’s 2008 launch, such as…