Author: NBTC
According to data provided by blockchain analytics platform Arkham Intelligence, $593.5 million worth of Silk Road-related Bitcoins have been moved to the Coinbase exchange. As reported by U.Today, the price of Bitcoin dipped after the U.S. government transferred nearly $2 billion worth of BTC to exchanges. However, it turned out that the market overreacted since these coins were simply sent for custody. In early July, the leading US cryptocurrency exchange secured a high-profile partnership with the United States Marshals Service, the very first law enforcement agency in the country. The deal was meant to ensure Coinbase Prime securely stores the…
Today, enjoy the Lightspeed newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the Lightspeed newsletter. Howdy! It’s a cold world out there, but the return of fast food meal deals has been giving me joy lately. Over the weekend, I stopped by Taco Bell to get their new $7 meal, which came with a chalupa, taco, burrito, chips, and a drink — what value! McDonalds’ new $5 combo isn’t bad either. There are always reasons to smile. Anyways: One market maker to rule them all Stablecoins are like the liquidity lifeblood of crypto —…
The U.S. House of Representatives’ financial-services committee is said to be tackling a ton of crypto issues next month, including DeFi and Securities and Exchange Commission matters. Digital assets will likely be a hot topic for SEC Chair Gary Gensler, who is said to be scheduled to face the entire committee later in September. The U.S. House Financial Services Committee is poised to launch a series of crypto hearings digging into several aspects of the industry, according to a person briefed on the planning, including decentralized finance (DeFi), the Securities and Exchange Commission’s oversight of digital assets businesses and the…
When it comes to bridging the gap between traditional finance and Web3, Wirex Pay plays a vital role by providing seamless, gasless, and on-chain payment solutions. This approach unveils an innovative structure for the future of finance by smartly utilizing blockchain technology. What is Wirex Pay? Wirex Pay is the world’s first Decentralized Payment Network (DPN), uniquely merging traditional and decentralized finance. Wirex Pay is incubated by Wirex, a prominent UK-based award-winning digital payments platform with over 6 million customers in almost 130 countries. Allowing Wirex Pay to become a pioneering modular payment chain that is further powered by Polygon’s…
Tech giant Sony Group has entered the Ethereum L2 scene through Soneium. With testnet set to launch soon, Soneium is designed to drive creativity in a bid to take Web3 mainstream. Soneium, a new Layer 2 blockchain unveiled by Sony Group and Startale, has chosen Chainlink as its premier launch partner. With this partnership, Chainlink has further positioned itself as a leading decentralized blockchain platform. Chainlink to Help Bring Soneium’s Vision to Reality Chainlink announced the integration with Soneium in a post on social media X, coinciding with the introduction of the L2. According to the announcement, Soneium will leverage…
US July CPI inflation rate fell to 2.9%, below the expected 3%, potentially triggering a Fed rate cut. Analysts project Bitcoin could reach $64,000 to $65,000 if the Fed cuts rates in September. The US Consumer Price Index (CPI) numbers came out this morning, with the July CPI inflation rate falling to 2.9%, below expectations of 3%. Industry experts believe that a rate cut in September becomes more likely, and this could lead to a sustained rally for Bitcoin (BTC) to the $65,000 price level. Meanwhile, the Core CPI inflation, which excludes food and energy, aligned with 3.2% expectations. Notably,…
The Federal Reserve is on the brink of slashing interest rates, but the big question is how deep will the cut be? Earlier today, Jerome Powell pretty much confirmed that a cut is coming. Now, the market’s all-in on figuring out just how much of a cut we’re talking about. Most people are betting on a quarter-percentage point reduction. But, there’s a growing buzz around a potential half-point slash. There’s about a 33% chance of that actually happening, according to the CME Group’s FedWatch tool. Powell was cagey about the exact timing and the size of the cuts, which has…
VanEck Head of Digital Assets Research Matthew Sigel confirmed speculation that the company’s Solana spot ETF proposal bets on Donald Trump winning the US presidency. The deadline for VanEck’s application is set for March 2025, which would put it well beyond the aftermath of the US Presidential elections in November. Sigel simply responded with a simple: “Can confirm.” The analysts said approval odds for each ETF are “near zero” if a Democrat victory leaves Joe Biden in office and “better … but not guaranteed” if Trump wins the election. Trump would likely appoint a new SEC chair to replace the…
As the U.S. Securities and Exchange Commission (SEC) presses forward with efforts to regulate crypto, the agency’s enforcement threats have left a sprawling paper trail across the industry. Whether it’s entities issuing coins or exchanges enabling them to trade, more market participants are waking up to a so-called Wells notice. On Wednesday, that kind of letter boiled to the surface of the NFT space, as the prominent marketplace OpenSea said it had received one too. Before the SEC takes formal legal action against an entity, the agency will often send targets of an investigation a Wells notice. The document outlines…
WazirX has set aside millions of dollars to cover legal costs related to the theft of hundreds of millions of dollars in crypto after a cyberattack in July brought the Indian exchange to its knees. On Wednesday, Singapore-based Zettai Pte Ltd, the holding company of WazirX, filed an affidavit with the High Court of Singapore, requesting a 30-day moratorium to facilitate discussions with investors and creditors to stabilize the platform. The moratorium, if granted, is seen as essential for ensuring the platform’s continuity and preventing further legal disruptions. WazirX and Zettai did not immediately return requests for comment. WazirX has…