Author: NBTC
Crypto banking activity was paused or prevented by the Federal Deposit Insurance Corp. at a large number of U.S. banks in 2022, according to communications pried loose by a research firm hired by Coinbase Inc. (COIN). Coinbase’s hired help, History Associates Inc., had taken the FDIC and the Securities and Exchange Commission to court in June and finally won access to certain internal FDIC communications. The heavily-redacted documents emerged on Friday, showing the banking regulator slamming the brakes on lenders offering or considering products and services in the digital assets sector. “We respectfully ask that you pause all crypto asset-related…
Binance Futures has announced plans to delist USDⓈ-M MAVIAUSDT, OMGUSDT, and BONDUSDT perpetual contracts. Binance Futures to Delist Three Perpetual Contracts on December 16 The delisting will take place after automatic reconciliation at 12:00 on December 16, 2024 and will mean the removal of these contracts from the platform. Basic Details of Delisting Position Closures: Users are advised to close their open positions prior to the delisting time to avoid automatic reconciliation by Binance. Restriction on New Positions: Starting at 11:30 AM on December 16, 2024, investors will not be able to open new positions in the affected contracts. Settlement…
Bitcoin and other cryptocurrencies started the week well, buoyed by ongoing stimulus discussions in China, the world’s second-largest economy. Bitcoin (BTC) crossed the important resistance point of $65,000 for the first time since Sept. 30. It has risen by over 10% from its lowest level this month and by 32% from its August low, signaling that it is in a bull market. Bitcoin’s surge coincided with a strong rally in the global equity market after Chinese officials unveiled a series of stimulus measures. The Shanghai Composite Index rose by 2%, while the Shenzhen index increased by 2.65%. A similar trend…
The cryptocurrency market is buzzing with excitement as Bitcoin breaks the $100K mark, marking a significant achievement for the growth of the Web3 industry. This bullish momentum is gradually spreading to the altcoin market, with investors actively searching for promising assets that could replicate Bitcoin’s rally. Ethereum price shows potential for such a rally as whale buying shows investors anticipation for a key breakout. Currently, the ETH price trades at $3,887 with an intraday gain of 1.3%. According to Coingecko, the global crypto market cap is at $3.8 Trillion, while the 24-hour trading volume is at $483.2 Billion. Key Highlights:…
Chicago Fed President Austan Goolsbee expressed optimism that interest rates will be lowered significantly next year. Speaking at a keynote hosted by Crain’s Chicago Business Editor-in-Chief Ann Dwyer, Goolsbee addressed the challenges and opportunities facing the U.S. economy and monetary policy. “We have very few tools. I told you we can only tighten or loosen,” Goolsbee explained. While monetary tightening helps combat inflation, he noted that raising interest rates too high risks unintended economic consequences. “The only way to create deflation for the economy as a whole is to crash it,” he said, drawing historical comparisons such as the Great…
Realms has been in the business of crypto-governance for nearly as long the blockchain it’s built on – Solana (SOL) – has been around. Its new leaders want to start turning a profit. The hub for crypto apps’ voting, decision-making and treasury is under new management, an entity called “Realms Today Trust.” It’s a big change for the project built by all-important Solana Labs to give its blockchains’ many startups a place to manage their politics. “We need to develop profit services, that way we can continue it,” said Dean Pappas, a longtime Realms contributor and one of the four…
The Czech Republic Parliament reportedly passed a law that would exempt Bitcoin held for more than three years from capital tax gains, placing it on the same level as stocks. According to a video by Braiins mining’s Chief of Propaganda, Kristian Csepcsar, the Czech Republic Parliament has unanimously agreed to exempt capital gains tax on Bitcoin (BTC) held for more than three years. Previously, capital gains that came from owning Bitcoin was subject to a 21% corporate income tax. Not only that, the parliament has also agreed on a set of new laws that would serve to benefit Bitcoin holders…
Binance has announced the listing of two new tokens, Across Protocol (ACX) and Orca (ORCA), on its spot trading platform. Binance to List Protocol (ACX) and Orca (ORCA) with Seed Tags Trading for ACX/USDT and ORCA/USDT pairs will open on December 6, 2024, at 16:00, with withdrawals available on December 7, 2024, at 16:00. Key Details Deposit Availability: Users can deposit ACX and ORCA tokens to prepare for trading. Trading Fee: Listing fee (0 BNB) will not be applied for these tokens. Smart Contract Addresses: ACX (Ethereum): 0x44108f0223A3C3028F5Fe7AEC7f9bb2E66beF82F. ORCA (Solana): orcaEKTdK7LKz57vaAYr9QeNsVEPfiu6QeMU1kektZE. Additional Features Seed Tag: Both ACX and ORCA will…
Early in our thinking about the interaction between bitcoin and energy it became obvious to me that the value of bitcoin was fundamentally underpinned by the amount of energy that went into producing the bitcoin. As with any free market system, the value of a widget (in this case bitcoin) is determined by the cost of producing the widget plus the various levels of profit margin needed to get from manufacturing to the consumer. If someone has an innovative ability to supply something that no one else can and there is a large demand for this product then they have…
Today, enjoy the 0xResearch newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the 0xResearch newsletter. Why bitcoin ETF flows matter As we approach the mid-point of October, net inflows for the US bitcoin ETFs have flipped into positive territory for the first time this month. Bitcoin ETFs notched $253.6 million in net inflows on Friday, breaking a three-day negative streak. They ended the week with a solid net of $348.5 million. ETF flows provide insights into bitcoin price movements, acting as a potential indicator of directional trends, according to David Lawant, head of research…