Author: NBTC
Publicly shared documents released ahead of the upcoming extradition of notorious crypto Ponzi schemer Do Kwon reveal the stupid turn of events that led to his arrest and that of his compatriot, Joon Chang. Attempting to leave Podgorica, the capital of Montenegro, on a private jet in March of 2023, Kwon and Chang were stopped at a border crossing when they presented fake Costa Rican passports. The pair were attempting to fly to Dubai, the known home of Changpeng Zhao (colloquially known as CZ), founder and former CEO of Binance. After having their luggage confiscated and searched, further problematic documents…
Around $400 million in Ether (ETH) has been withdrawn from the Ethereum layer-2 network Blast after the launch of its mainnet on February 29 at 9:00 pm UTC. This unlocked nearly $2.3 billion in staked crypto that was previously locked up on the network. Blast, an optimistic rollup blockchain scaler, offers users up to a 4% annual return on deposited Ethereum (ETH) and 5% on stablecoins held on the network, generated from staked ETH and United States Treasury Bills (T-Bills) managed by MakerDAO. Ethereum Layer 2 Chain Blast Releases Official Mainnet Blast 메인넷이 출시되었습니다. 얼리액세스 사용자는 메인넷으로 브리지하고 다른 곳에서는…
The Bank for International Settlements has issued a set of recommendations aimed at regulating global stablecoins. The Bank for International Settlements (BIS) noted that the widespread adoption and reach of global stablecoins (GSCs) could pose risks to domestic and international financial stability. The BIS emphasizes robust regulation and supervision of GSC arrangements to mitigate risks. The recommendations encourage global jurisdictions to prepare for overseeing GSCs, focusing on cross-border cooperation and information sharing. You might also like: Nigeria fines Binance $10b in forex-rate manipulation probe The bank also advocates for risk management frameworks that address operational resilience, cyber security, anti-money laundering…
Nvidia has surpassed Saudi Aramco, taking the third spot and becoming the third-largest company by market capitalization across the globe. This achievement positions Nvidia only third behind tech giants such as Microsoft and Apple, illustrating a time of accelerating growth and investment attraction in the technology industry, particularly in the areas of artificial intelligence (AI) and chip manufacturing. Market Cap Milestone: Nvidia’s Surge in Demand Nvidia’s market capitalization is now $2.053 trillion, and Saudi Aramco has $2.046 trillion. This jump is a manifestation of how Nvidia dominates the process of building and production of computer chips, the mainstay of the…
The final agreement between the Texas Blockchain Council & Riot Platforms, Inc., and the Energy Information Administration has just dropped, and it’s a good one. In sum, the EIA will voluntarily terminate the illegal EIA-862 collection action they initiated, and they will commit to destroying all the information that they have received and may still receive under the EIA-862. Furthermore, they will also cancel and withdraw the February 9th, 2024 notice for collection, replacing it with a new Notice. This new notice will run for a full 60 days from the date it is released in the Federal Register, and…
BitFuFu, a cryptocurrency mining company, achieved a significant milestone by going public on the Nasdaq stock exchange through a merger with Arisz Acquisition Corp. The company commenced trading on March 1, 2024, using the ticker symbols “FUFU” for its Class A ordinary shares and “FUFUW” for its warrants. The intention to go public was disclosed in early February through documents filed with the Securities and Exchange Commission (SEC). However, on the first day of trading, FUFU faced challenges, with equity mostly remaining stable. The stock opened trading at $6.67 before reaching a daily peak of $8.53. Nevertheless, the stock had…
A seismic shift of wealth is beginning in the US, which will create the richest generation in recorded history, according to a new report. The global real estate consultancy firm Knight Frank is releasing its 2024 Wealth Report, and it finds boomers will hand $90 trillion in assets to millennials over the next 20 years, reports Fortune. That number is higher than other estimates, which have pegged the transfer at somewhere between $53 trillion and $84 trillion. Regardless, by 2030 millennials are expected to have five times as much wealth as they have today, according to Coldwell Banker. It follows…
On Jan. 26, 2024, the White House sent ripples throughout the cryptocurrency mining community by authorizing the Energy Information Administration (EIA) to conduct an “emergency” survey of cryptocurrency miners. This mandate was incorrectly framed as a straightforward, 30-minute data collection effort. However, it significantly understated the survey’s complexity and intrusiveness, posing risks of exposing sensitive proprietary information and placing undue burdens on miners. Furthermore, this perceived emergency furthered a narrative that cryptocurrency mining poses a significant danger, relying on meritless justifications for the emergency data request and exacerbating concerns over the sector’s environmental impact without substantial evidence. This misrepresented mandate…
The Ethereum (ETH) floor price of the five biggest non-fungible token (NFT) collections has slumped in the last 30 days, according to data aggregator NFT Price Floor. The NFTs from Bored Ape Yacht Club collection took the hardest hit, with a 26.6% pullback on ETH price. Pudgy Penguins, which dominated the traded volume within the Top 5 collections, fell 10.3% in the same period. Meanwhile, CryptoPunks was the most successful collection at holding ground in ETH, limiting the pullback to less than 7%. Autoglyphs and Chromie Squiggle, the remaining two of the five largest NFT collections by market cap, fell…
It has been a great few months for Cathie Wood as her Ark Innovation Fund (ARKK) has bounced back from its lowest level in 2023. It has jumped by over 73% and is now hovering near its highest point since August 2022. Some of its top holdings have become among the best-performing stocks in Wall Street. Coinbase, its biggest holding, has surged to its highest point since 2022 as Bitcoin and other altcoins have bounced back. It has soared by over 560% from its lowest level in 2023. Other companies in the ARKK ETF like Block (SQ), Roku, Robinhood, and…