Author: NBTC
Transak has obtained two licenses from Canada and the US to enhance its regulatory compliance. In the US, Transak USA LLC secured its second Money Transmitter License (MTL) from the State of Delaware, following its first MTL from the Alabama Securities Commission acquired one month prior. In Canada, Transak Canada has registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), allowing it to operate as a Money Services Business (MSB) in accordance with Canadian financial regulations. The Canadian registration occurs amid significant growth in the Canadian cryptocurrency market. A study by the Bank of Canada indicates that…
Fidelity’s FBTC sees second-largest withdrawal amid ETF downturn. Key Takeaways Fidelity’s FBTC faced a significant withdrawal, marking its second-largest since inception. Grayscale’s GBTC approaches $20 billion in cumulative outflows amid market challenges. US spot Bitcoin exchange-traded funds (ETFs) experienced a major downturn at the start of September, with $287 million in net outflows recorded on the first trading day following the Labor Day weekend, data from Farside Investors shows. These funds have seen their fifth consecutive day of net outflows, collectively shedding over $750 million since last Tuesday. Source: Farside Investors The post-Labor Day ETF market saw a wave of…
A wallet belonging to Ripple Chairman Chris Larsen moves 50 million XRP to a new unidentified address. Interestingly, the recent transaction marked the first notable outbound transfer from the wallet for the first time since its creation. Notably, this wallet was created in the early days of the XRPL and funded with a whopping 500 million XRP in February 2013, representing part of the XRP allocations to the Ripple Chairman. Since then, the wallet has failed to move any of the tokens, only transferring out 1 XRP in December 2017. However, most recently, whale tracking resource Whale Alert indexed the…
Bankrupt crypto exchange FTX has reached settlement agreements with Evolve Bank and Silicon Valley Community Foundation (SVCF) that could enable it to recover up to $21 million in assets. According to Oct. 30 court filings, these settlements still require court approval, with a hearing set for Nov. 20. Evolve Bank settlement Before FTX’s collapse in 2022, Evolve Bank maintained three accounts for West Realm Shires Services Inc., an FTX affiliate, under a Master Bank Services Agreement (MBSA). These accounts held more than $13 million in deposits on behalf of the FTX affiliate. Initially, Evolve Bank filed a non-customer Proof of…
The U.S. Department of Justice (DOJ) has issued subpoenas to Nvidia Corp. and other companies in its ongoing investigation into chipmaker Nvidia’s alleged violations of antitrust laws, Bloomberg reported. The Justice Department, which previously sent questionnaires to companies, has now issued legally binding subpoenas compelling recipients to provide information, Bloomberg reported, citing people with knowledge of the investigation. This move by the DOJ caused a sharp decline in NVDA stock and the Nasdaq market, as well as a decline in Bitcoin and the crypto market. Bitcoin, which shot up to $55,000, then reached $56,000, while Ethereum (ETH) fell below $2,400.…
A widely followed crypto analyst says that Ethereum (ETH) is in the final stages of its decline against Bitcoin (BTC). In a new strategy session, crypto trader Benjamin Cowen tells his 819,000 YouTube subscribers that based on historical patterns, the top altcoin appears as if it’s about to break out against the crypto king. According to Cowen, ETH/BTC tends to find its bottom two to three months after losing its support level, a move the analyst says should happen soon, though he did not specify a date. “If you look at ETH/BTC normally, [it] would bottom within two to three…
Despite full unlocking, only 25.83% of UNI tokens are actively circulating in the market. UNI is trading at $6.47 by 1.945 increase, with a market cap of $3 billion. The native token of Uniswap’s UNI was issued and listed in September 2020. The team, investors, advisors, and community treasury received a total of 83% of the allocation, amounting to 8.3 billion tokens. These tokens are subject to a four-year unlocking period. UNI was fully unlocked four years ago, but the actual circulation tells a different story. Initially, 83% of the 1 billion tokens, totaling 830 million, were allocated to the…
Telegram game Tomarket has been in the spotlight for crypto gamers in recent weeks with the build-up to its announced token generation event (TGE) on October 31 and subsequent airdrop. But after the game revealed airdrop allocations on Friday, players are still waiting to get their hands on the actual token. As planned, Tomarket told players Friday how many tokens they’d earned during the farming phase, which was based on factors such as how many in-game tomatoes they earned and whether or not they’d purchased the optional premium medal booster. But the airdrop still hasn’t technically taken place, as players…
The Cryptonomist interviewed Gillian Lynch, CEO of UK & Europe of the Gemini crypto exchange to talk in particular about their plans to expand in Italy and the UK and about MiCA regulation. Gemini has big plans for European expansion, particularly in the UK and Italy. What specific strategies are you implementing to make these markets a success over the next 12 months? Gemini is already available in over 30 countries in Europe, offering digital asset exchange and custodian services to both retail and institutional customers. Nevertheless, our Growth and Product teams are continuously looking to expand our offerings in…
Bitcoin’s (BTC) price could face a prolonged decline after failing to break above the $60,000 mark. This struggle to maintain a key resistance level has raised concerns among investors, who are now closely watching how far the downturn might extend. Currently, Bitcoin is trading at $57,862, marking a 6.85% drop over the past seven days. While some market participants might be hoping for a recovery, on-chain analysis suggests that another price decrease could be on the horizon. Bitcoin Market Condition Worsens One key on-chain indicator supporting the potential for further decline is Bitcoin’s Puell Multiple. This metric compares the daily…