Author: NBTC
The U.S. Attorney’s Office in Massachusetts filed an action on Wednesday to return $2.3 million in cryptocurrency to victims of online scams. The cryptocurrency was seized from two Binance accounts in Jan. 2024. Investigators began tracing the funds after a Massachusetts resident became the victim of a “pig butchering” romance scam. The United States Attorney’s Office in Massachusetts filed a civil forfeiture action on Wednesday aimed at returning $2.3 million in cryptocurrency to 37 victims of online scams and fraud. The cryptocurrencies – which includes nearly 300,000 (USDC), 1.5 million (USDT), 102,000 (TRX), 3,000 (SOL), and 14,000 (ADA) – were…
Bitcoin, the world’s largest cryptocurrency, fell sharply after reaching its all-time high of $69,000 yesterday evening and fell to $59,000 in about 5 hours. While this decline and the subsequent rises caused the liquidation of more than $ 1 billion in leveraged positions, CryptoQuant analyst said that the selling pressure in Bitcoin was probably due to profits being made at historically high levels and miners disposing of some of their BTC assets. While BTC has recovered again and risen to $ 67,000, some analysts expect the correction to continue and some expect the rise to continue. Commenting bullishly on BTC,…
Ethereum price cleared the $4,000 resistance zone. ETH is now consolidating gains and might extend its increase above the $4,100 zone. Ethereum traded to a new multi-month high above $4,050. The price is trading above $4,000 and the 100-hourly Simple Moving Average. There is a short-term breakout pattern forming with resistance at $4,060 on the hourly chart of ETH/USD (data feed via Kraken). The pair could resume its increase if it clears the $4,080 resistance zone. Ethereum Price Reclaims $4K Ethereum price remained well-bid above the $3,880 level and extended its increase, like Bitcoin. ETH was able to clear the…
Modular blockchain Eclipse has secured $50 million in a Series A funding round led by Placeholder and Hack VC, bringing its total funding to $65 million. Other investors including Polychain Capital, Delphi Digital, Maven 11, DBA and Fenbushi Capital also participated in the round. Blockchain modularity refers to the different design layers of a blockchain stack. These include execution, settlement, consensus and data availability. Read more: A spicy salvo launched in the monolithic vs modular debate For blockchains like Bitcoin, Ethereum and Solana, this activity is carried out by the same set of nodes. Modular blockchains, on the other hand,…
Tokens related to the artificial intelligence (AI) narrative went up 257% on average so far in 2024, according to a Mar. 5 report by CoinGecko. TAO, the token powering Bittensor, a decentralized machine learning protocol, has maintained its position as the largest AI token by market cap, reaching $3.8 billion as of Feb. 29. This marks a significant lead over its closest competitor, RNDR, which boasts a market cap of $3 billion. FET holds the third spot with a market valuation of $1.4 billion. Despite the stability at the top, the AI token market has witnessed considerable movement. OLAS, which…
The world’s largest crypto exchange Binance on Tuesday said it is extending a promotion for several cryptocurrencies, especially meme coins on Binance Margin. Binance to offer a one-hour interest fee waiver for major trending crypto including Dogecoin (DOGE), Shiba Inu (SHIB), Pepe Coin (PEPE), BONK, dogwifhat (WIF), and FLOKI. Binance Expands Support for DOGE, SHIB, PEPE, BONK, WIF, FLOKI Crypto exchange Binance in an official announcement on March 12 revealed a new move to boost trading of trending cryptocurrencies. The move comes amid massive demand for meme coins and gaming tokens. Users can start trading to automatically receive a one-hour…
Lawmakers discussed the Consumer Financial Protection Bureau’s proposal to potentially bring payment applications, including those involving crypto, under its oversight. The proposal, “Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications,” aims to regulate nonbank financial companies processing over five million transactions annually, similar to the regulatory requirements for banks and credit unions. During the hearing, some House Financial Services subcommittee members expressed concerns about the CFPB overstepping its bounds. Rep. Mike Flood, R-Neb, questioned the legality of the CFPB claiming jurisdiction over cryptocurrencies with minimal legal basis. Conversely, Democrats like Rep. Stephen Lynch, D-Mass, argued for…
Bitcoin rose overnight, retaking $67,000 on Wednesday after falling to just above $62,000 on Tuesday. The fall came after Bitcoin reached its new all-time high of $69,170, according to CoinMarketCap. While still in the red, Bitcoin rose 7.89%. Investor interest in Bitcoin has skyrocketed since the approval of several spot Bitcoin ETFs in January and the fast-approaching halving on April 20, 2024. But like Sir Isaac Newton said, “what goes up must come down,” and the price of Bitcoin went into freefall after reaching its highest peak. “The March 5, 2024 high was observed at 3:05 pm where we hit…
Ether puts expiring in 30 and 60 days traded at a premium to calls a day after the cryptocurrency’s price broke above $4,000. The relative richness of puts likely stems from concerns that the U.S. SEC may not approve the highly anticipated ether spot ETF by May. Ether (ETH) options traders are bracing for near-term price weakness a day after the cryptocurrency convincingly rose past $4,000 to the highest since late 2021. Ether’s one-month call-put skew, an options market measure of sentiment, has turned negative, hinting at the relative richness of puts, or options used to protect against bearish price…
Upbit, South Korea’s largest cryptocurrency exchange, has seen an unusual increase in trading volumes for several altcoins relative to Binance. The altcoins in question include Qtum (QTUM), Arbitrum (ARB), Decentraland (MANA), Kava (KAVA) and StormX (STMX). The 4-hour chart for Qtum (QTUM) showed an average volume of $3 million, but the last recorded volume was surprisingly around $9 million, indicating a 165.23% increase on Upbit. On Binance, the 4-hour average 50 volume was $758 thousand, while the last recorded volume was $892 thousand, an increase of 17.65%. Arbitrum (ARB) also saw a significant increase on the 1-hour chart. While the…