Author: NBTC
The recent detention of Telegram founder Pavel Durov is causing repercussions in the crypto venture capital sector, particularly among firms that have invested heavily in Toncoin, a cryptocurrency closely tied to the popular messaging app. Notable crypto venture capital firms such as Pantera Capital Management, Animoca Brands, and Mirana Ventures have significant holdings of Toncoin tokens, which are used for activities such as instant payments on Telegram. Pantera Capital, one of the largest crypto-focused venture capital funds, reportedly invested over $100 million in Toncoin earlier this year, according to a source familiar with the matter. Toncoin’s appeal was largely due…
FTX will begin repaying creditors in Q4 2024, distributing $16 billion while liquidating all assets. The SEC and U.S. trustee have raised concerns over FTX’s repayment plan. FTX, the crypto exchange that faced bankruptcy in November 2022 is planning to repay creditors in the fourth quarter of 2024 which is starting this October. They are redistributing 16 billion dollars. It owes more than two million customers and other non-governmental creditors about $11 billion. This vital move marks a crucial step in the recovery process for the company. It seeks to tackle the significant financial liabilities accumulated before its collapse. Crypto…
Bitcoin’s price on August 12, 2024, stands at $59,777, with intraday 24-hour prices ranging between $57,814 and $61,054. The cryptocurrency’s market capitalization is $1.16 trillion, supported by a 24-hour trade volume of $29.81 billion. As bitcoin navigates this challenging environment, technical indicators reveal continued bearish momentum, testing the resolve of bullish investors. Bitcoin The 1-hour chart reveals a pronounced bearish trend, with bitcoin’s price declining from $61,868 to approximately $57,681 since August 11. The significant volume during this downturn underscores the strength of the selling pressure. Currently, bitcoin is consolidating near the $59,000 level, suggesting a possible pause in the…
The team behind World Liberty Financial, an upcoming crypto project promoted by the Trump family, said Wednesday that the DeFi platform aims to maintain global U.S. dollar supremacy through the use of stablecoins. The revelation comes after CoinDesk reported that a leaked white paper for the project details a borrowing and lending platform reminiscent of Dough Finance, a recently hacked protocol. The report suggested that World Liberty Financial hails from multiple Dough team members, and would apparently reuse code from the breached protocol. “Our mission is crystal clear: Make crypto and America great by driving the mass adoption of stablecoins…
The prices of Bored Ape Yacht Club NFTs once rivaled those of Ferraris fresh off the assembly line. Nowadays, the JPEGs cost as much as your average used car. When digital assets boomed in 2021 and 2022, the Bored Ape Yacht Club represented NFTs’ potential as an emerging asset class mixing community and art. In crypto, Apes were lauded as digital status symbols that existed on the bleeding edge of tech. When the collection’s maker Yuga Labs teased details about its upcoming Otherside game—which is still under development—the market for Bored Apes was frothy. Around that time, Apes reached a…
Shiba Inu burn rate spikes 28,145% as a Coinbase user destroys over 96 million SHIB tokens. In a startling development, an unknown wallet burned 96,086,320 (96.08 million) SHIB in a single transaction. As usual, the renowned Shiba Inu community-driven burn tracker Shibburn called attention to the latest transaction via an X post today. Data from Shibburn shows that the transaction occurred yesterday at 21:19 (UTC). Further investigation into the wallet suggests that its owner might be a Coinbase user. According to Etherscan data, the wallet has received funds from the San Francisco-based crypto exchange several times. Wallet Ends 154 Days…
Binance, the world’s largest cryptocurrency exchange by trading volume and users, is thrilled to announce the launch of its new Solana staking product, Binance SOL Staking, coming this September. This innovative offering introduces Binance Staked SOL (BNSOL), a versatile liquid staking token designed to maximize the benefits of Solana (SOL) staking while maintaining full control and flexibility for users.—With Binance SOL Staking, users can securely stake their SOL tokens on Binance and receive BNSOL in return. BNSOL acts as a liquid staking token, representing the staked SOL while allowing users to continue earning rewards and maintain liquidity. Unlike traditional staking,…
H.C. Wainwright, an investment bank that offers strategic advisory and equity research has launched a Bitcoin mining-focused deal tracker. Mike Colonnese, a managing director of equity research at H.C. Wainwright, announced the launch of the Bitcoin (BTC) ‘HCW BTC Miner M&A Deal Tracker’ in a note shared with crypto.news on Sept. 4. According to the analyst, the new dashboard will track merger and acquisition deals in the Bitcoin mining sector, providing key details such as purchase price, deal type, and enterprise value. The tracker will also offer an overview of the M&A on features such as growth targets, mining power,…
Closely followed crypto analyst Altcoin Sherpa is calling for caution amid what he sees as bearish price action for Bitcoin (BTC). Altcoin Sherpa tells his 219,000 followers on the social media platform X that BTC is continuously printing bearish patterns on the daily chart. He shares a chart suggesting that BTC is forming a simple set of lower highs and lower lows. “Even though we have a lot of euphoria on the timeline (and I’m also looking for dips), we have to still remember that BTC is in a one-day bearish market structure. What would change this? If we break…
In a recent update shared on social media, key metrics for several popular decentralized applications (DApps) have been disclosed, providing insights into their current performance and market impact. The tweet highlights significant data points on leading DApps, including Sky ($SKY), Aerodrome ($AERO), Lido Finance ($LDO), Uniswap ($UNI), Aave ($AAVE), PancakeSwap ($CAKE), Ethena ($ENA), Curve ($CRV), and GMX ($GMX). KEY METRICS ON POPULAR #DAPPS #Sky $SKY #Aerodrome $AERO #LidoFinance $LDO #Uniswap $UNI #Aave $AAVE #PancakeSwap $CAKE #Ethena $ENA #Curve $CRV #GMX $GMX pic.twitter.com/jpKmfoXjHv — PHOENIX – Crypto News & Analytics (@pnxgrp) September 4, 2024 The release of these metrics comes at…