Author: NBTC
Johnny Ng, a Hong Kong lawmaker, has called on the Hong Kong government to look into regulating decentralized autonomous organizations (DAOs) after the city’s High Court recently ordered defendants to disclose financial records related to the DAO project, according to local media reports. Ng, a member of Hong Kong’s Legislative Council, told local media on Monday that the government should introduce a legal framework for the DAOs in a bid to turn Hong Kong into a global Web3 hub. The lawmaker’s comments came after the court last week gave reasons for an order requiring six defendants to disclose financial records…
Indian crypto exchange WazirX has re-launched INR withdrawals for “eligible users” and decreased withdrawal fees by 60%. Cryptocurrency exchange WazirX, which recently suffered a multi-million dollar hacker attack, has begun the first phase of INR withdrawals. In an X announcement, the Mumbai-headquartered trading platform said that starting from Aug. 26, all “eligible users” can withdraw “up to half of the available 66% limit of their INR balances,” implying that users can withdraw only 33% of their INR balances. 📢 INR Withdrawals Phase 1 Now Live All eligible users can withdraw up to half of the available 66% limit of their…
Another solo miner has beaten the odds and processed a block on the biggest crypto network—pocketing 3.275 Bitcoin, or just shy of $200,000 as a reward. The lucky miner processed block number 858,978 at 12:21pm Eastern Time, according to blockchain data. A total of 2,391 transactions were contained in the block, and the miner received $199,094 worth of Bitcoin for the work. Bitcoin mining is the business of processing blocks on the Bitcoin network. Blocks are full of data and are part of the cryptocurrency’s blockchain—a super-secure ledger containing transparent information about transactions. When blocks are processed, miners are rewarded…
Despite decisively losing its multi-month stable levels near $67,000 and even dropping below $50,000 for short periods of time, Bitcoin (BTC) has shown significant resilience in retaining the range between approximately $58,000 and about $60,000. Indeed, though BTC is 11.95% in the red in the 30-day chart due to substantial volatility and selling pressure in early August, most recent trading has shown a trend for stabilization. Additionally, with Bitcoin price today, at press time, being at $58,546, the coin remains a 38.53% up year-to-date (YTD), thus leaving substantial room for optimism about its performance in the longer time frames. With…
Ethereum exchange-traded funds (ETFs) in United States have experienced their longest streak of outflows. From August 15 to August 21, the funds lost $92.2 million over five consecutive days. This marks the most significant outflow period since the ETFs were launched on July 23. Ethereum ETFs Face $158.6 Million in Outflows In particular, the Grayscale Ethereum Trust (ETHE) is a major player in these outflows, as it saw a withdrawal of $158.6 million in the five days in question. Grayscale’s fund had redemptions daily except for the 12th of August, which showed that investors remained concerned. Other ETFs, such as…
Spot Bitcoin exchange-traded funds in the United States experienced their third consecutive day of net outflows, while spot Ethereum ETFs also saw a return to negative flows. According to data from SoSoValue, the 12 spot bitcoin exchange-traded funds recorded $71.73 million in net outflows on Aug. 29, marking the third consecutive day of outflows. FIdelity’s FBTC led the lot, logging $31.1 million in outflows on the day — its highest recorded outflows since Aug. 6. Grayscale’s GBTC continued its outflow streak, with $22.7 million leaving the fund, pushing its total outflows to date to $19.78 billion. Spot Bitcoin ETFs inflow/outflow…
The Artificial Superintelligence Alliance (ASI) has initiated its ambitious $7.5 billion token merger, commencing with the consolidation of SingularityNET (AGIX) and Ocean Protocol (OCEAN) tokens into Fetch.ai’s FET token. This initial phase has already been confirmed through on-chain activity, signaling a major shift in the AI cryptocurrency landscape. The Artificial Superintelligence Alliance (ASI) has initiated its highly anticipated token merger, starting with the consolidation of two AI token projects: SingularityNET (AGIX) and Ocean Protocol (OCEAN). According to a post on X by analytics platform Scopescan, a significant whale transaction occurred, where 8 million AGIX tokens and 4.8 million OCEAN coins…
CHP Applied to the Constitutional Court to Cancel the Cryptocurrency Law! Here are the Details…
As is known, the “Law on Amendments to the Capital Markets Law” numbered 518, known as the “cryptocurrency law” in Turkey, entered into force upon publication in the Official Gazette on 02.07.2024. In this context, the CMB first published a provisional list of the organizations that declared that they would liquidate their activities and the institutions that declared that they would continue their activities on August 5. While more exchanges have recently been added to the list of those that will continue their activities, the Republican People’s Party has taken the regulation regarding cryptocurrencies to the Constitutional Court. CHP Group…
Bitcoin miner and high-performance computing (HPC) firm Iris Energy Limited has secured 10 exahash per second (EH/s) of Bitmain’s S21 XP Antminers, positioning the bitcoin mining company to reach 30 EH/s by the end of 2024. Iris Energy Expands Mining Capacity and AI Cloud Services Iris Energy Limited (Nasdaq: IREN) reported record financial results for the fiscal year ending June 30, 2024, with notable improvements across several metrics. The company achieved a record adjusted EBITDA of $54.7 million, a substantial increase from $1.4 million in the previous year. This growth was driven by a surge in bitcoin mining revenue, which…
Bitwise CIO Matt Hougan Says Institutions Still Coming to Crypto, Calls Bitcoin ETFs Big Tents for Investors
Bitwise CIO Matt Hougan says that institutions are making their way over to crypto markets as the count of corporate holders of Bitcoin (BTC) exchange-traded funds (ETFs) grows. Hougan says on the social media platform X that “the institutions are still coming”, and he counts 1,924 holders of ETF pairs across all 10 of the Bitcoin ETFs currently trading on the stock market. Hougan notes that it is a 30% increase from the previous quarter despite falling prices in Q2. Says Hougan, “Of course, this does not mean 1,924 institutions own Bitcoin ETFs; some investors report positions in multiple ETFs.…