Author: NBTC
The Federal Accounting Standards Advisory Board (FASAB) has clarified that seized crypto assets should be treated as “nonmonetary property” while central bank digital currencies (CBDCs) should be treated as monetary instruments. The federal authority claims that cryptocurrencies “do not typically possess all monetary characteristics,” emphasizing that they “are not effective as a unit of account, medium of exchange, or store of value.” Accounting Standards for Seized Crypto The Federal Accounting Standards Advisory Board (FASAB) published a Technical Bulletin (TB) on Friday to clarify the standards for the accounting and reporting of seized and forfeited digital assets. FASAB is responsible for…
U.S.-listed spot bitcoin exchange-traded funds yesterday reached new record by holdings with more than 850,000 BTC in custody, surpassing the previous high above 845,000 BTC from early April. Among ETFs, Grayscale’s GBTC holds the largest amount of bitcoin with over $20 billion, followed by BlackRock’s IBIT at $19.6 billion, while Hashdex Bitcoin ETF is the smallest holder with $12 million. U.S.-listed spot bitcoin exchange-traded funds now hold a record 850,707 BTC in custody, beating a previous high above 845,000 from early April. Among those funds, Grayscale’s GBTC remains the biggest holder of bitcoin with 289,300 tokens worth more than $20…
The Shiba Inu (SHIB) ETF petition is just 300 signatures away from hitting a major target of 10,000. This was disclosed by a popular Shiba Inu community figure, Heber Mayen, in an X post yesterday. 👀300 signatures away to reach 10k #SHIB ETF. LFG 📣 #SHIBARMY https://t.co/x0FAz5emR4 — Heber Mayen 🇬🇹🇲🇦🇺🇸 (@HeberMayen) June 8, 2024 Meyer made this known while reacting to a tweet from SHIB BPP regarding the Change.org petition directed to Grayscale Investments CEO Michael Sonnenshein. Notably, SHIB BPP has been promoting the petition on X, urging members of the Shiba Inu community to sign the petition. According…
According to Julio Moreno, head of research at CryptoQuant, an early Bitcoin miner from the Satoshi era has moved 2,000 BTC. This activity involved coins mined in 2010, a time when Bitcoin’s value was negligible compared to today’s prices. “Satoshi era” refers to the period when Bitcoin’s pseudonymous creator, Satoshi Nakamoto, was active in the community, roughly between 2009 and 2010. An early #Bitcoin miner just moved 2,000 Bitcoin.These coins were mined in 2010.The Bitcoin likely went to an OTC desk or custodian given that they were forwarded to several other new addresses almost immediately.Old miners are a source of…
Tron (TRX) founder Justin Sun, who attracted the attention of investors with his altcoin purchases and sales, made a new move. According to Spot on Chain’s post, an address that appeared to belong to Justin Sun deposited 4 altcoins worth $21 million to Binance. Accordingly, Justin Sun transferred altcoins named AAVE, MKR, COMP and LQTY to Binance. “Turns out it was Justin Sun! In the last 30 minutes, Justin Sun deposited 4 altcoins worth $21 million to Binance: 93,979 AAVE worth $11.26 million 3,800 MKR ($9.3 million) worth $9.3 million 4,178 COMP worth $245k 203,623 LQTY worth $217 thousand” It…
Hedera’s Wallet Snap update integrates token and smart contract services into MetaMask for enhanced asset management. The update offers new possibilities for developers with Hedera’s high-speed, low-fee platform on MetaMask. Tuum Technologies has announced an interesting new upgrade to the Hedera Wallet Snap, which completely integrates Hedera’s token service and smart contract service with MetaMask. For developers and consumers alike, this update creates a world of opportunities and simplifies, strengthens, and greatly expedites the management of digital assets. The #Hedera Smart Contract Service is now available on MetaMask with Snaps! 🦊 We’re excited to share this major update to @hedera…
The previous two cycles may provide an indication of where BTC prices might head after the previous all-time high was broken. In the 2013 cycle, Bitcoin prices peaked at around $1,130, but they did not break this level again until March 2017. However, in the three months that followed, BTC prices doubled. When the 2017 all-time high of $20,000 was breached in December 2020, BTC prices doubled within a month. Bitcoin’s 2021 all-time high of $69,000 was topped in March, so prices could potentially double to around $140,000 within the next few months if cycle history rhymes. Big Gains Ahead?…
Notcoin (NOT), a TON-based clicker game on Telegram, has seen its price climb by 12% in the past 24 hours to reach $0.01957. At the time of writing, NOT has a 24-hour trading volume of $823 million per data from CoinMarketCap. The crypto asset has also witnessed a 12% rise in its total market cap to push it past the $2 billion mark. NOT 24-hour price chart | Source: CoinMarketCap Notcoin’s recent surge follows on the heels of an announcement from the Notcoin team, which outlined a major surge in user adoption and new incentives offered to further boost their…
Chainlink and DTCC have launched a pilot program tagging along other 10 financial institutions bringing fund data on-chain using Chainlink’s Cross-Chain Interoperability Protocol (CCIP). The pilot program is poised to unlock a new era of efficiency, security, and innovation in the financial sector. The financial sector is at the apex of a transformative shift with the groundbreaking launch of the pilot program. Chainlink, a decentralized blockchain oracle network has joined forces with Depository Trust & Clearing Corporation (DTCC), the world’s largest post-trade settlement organization to bring fund data onto blockchains. Notably, this collaboration has brought about ten more financial institutions…
This week, the total value locked (TVL) in the top 10 blockchain chains has been revealed, with Ethereum leading the pack. According to data from DefiLlama,holds the top spot with a significant $61.14 billion locked in its ecosystem. This significant lead showcases Ethereum’s dominance in the DeFi space. Ethereum Dominates, But Tron’s $8.20B TVL Shows Strong DeFi Usage After Ethereum, Tron ranks second with a TVL of $8.20 billion. Although the numbers suggest that Ethereum dominates Tron in every aspect, the metrics of Tron show good user interaction and usage of its DeFi services. BSC occupies the third place with…