Author: NBTC
The U.S. District Court for the Western District of Texas granted partial summary judgment in favor of the Securities and Exchange Commission (SEC) against crypto influencer Ian Balina. The court ruled that Balina offered and sold SPRK Tokens as securities in unregistered transactions, affirming that US securities laws apply to his activities. SPRK deemed security The SEC’s complaint, filed on Sept. 19, 2022, alleged that Balina purchased $5 million worth of SPRK tokens from Sparkster, Ltd. in May 2018. He then allegedly organized an investment pool of about 68 individuals, to whom he offered and sold SPRK tokens without registering…
SPACE ID, an all-inclusive identity forum for registration, trade, and management of Web3 domains, has started a new partnership. The company has announced that it is joining forces with BEVM (a BTC layer-2 network with complete compatibility with the Ethereum ecosystem) to introduce the decentralized .bevm identities. The platform disclosed this development on its account on the social media forum X. SPACE ID 🤝 BEVM.bevm domains are now here!! 😌 https://t.co/osxPDMlpad — SPACE ID (@SpaceIDProtocol) May 23, 2024 SPACE ID Discloses Its New Partnership with BEVM to Unveil Decentralized .bevm Identities In its recent X post, SPACE ID brought to…
New television spots by crypto stalwarts Coinbase and Grayscale are set to air during NBA and NHL playoff games, the companies told Blockworks. The commercials come around the highly anticipated bitcoin halving — slated to occur on April 19 or 20 — when per-block mining rewards are set to drop from 6.25 BTC to 3.125 BTC. The Coinbase commercial, posted on X Monday, shows a spotlighted motorbike in a warehouse-type setting apparently used for pizza deliveries. “Over time, your money gets you less,” a voice states. “Does bitcoin?” The commercial shows how much pizza a person could have bought with…
As the expectations of the spot Ethereum (ETH) exchange-traded fund (ETF) approval come closer, traders place bigger bets on ETH rather than Bitcoin (BTC). According to a CryptoQuant report shared with crypto.news, the ETH-BTC open interest ratio has increased from 0.54 to 0.67 over the past week. This shows traders are getting a higher exposure to Ethereum rather than Bitcoin due to the expectations of the spot ETH ETF approval. Data from Santiment shows that the ETH total open interest is currently standing at $8.53 billion. The total funding rate aggregated by Ethereum increased from 0.016% to 0.018% over the…
On Wednesday, American technology giant Nvidia (NVDA) announced its Q1 2024 earnings report. The company’s performance exceeded expectations for both sales and earnings, resulting in a significant rise in its stock price. The company’s performance highlights the ongoing robust demand for artificial intelligence (AI) chips, with notable gains in its data center sales and networking parts. Nvidia’s Strong Q1 2024 Earnings Boost AI Market Confidence Nvidia reported revenue of $26.04 billion, surpassing the expected $24.65 billion. The chipmaker also saw a significant increase in net income, reaching $14.88 billion, or $5.98 per share. In comparison, in Q1 2023, Nvidia’s net…
The US House on Thursday approved a bill that prohibits the Federal Reserve from issuing a digital dollar, or central bank digital currency (CBDC), without explicit authorization from Congress. This legislation, known as the CBDC Anti-Surveillance State Act (HR 5403), passed with a vote of 216 to 192. Republicans voiced worries that a US CBDC could be used for government control over citizens’ finances. The Fed itself hasn’t yet come out with a solid proposal to launch a digital dollar. But, the House vote reflects ongoing concerns among Republicans – including former President Trump – about potential government overreach with…
Gelios, the first community-owned decentralized applicaiton (dApp) layer on the Bitcoin network, has partnered with Koi. It is the most advanced and deepstack AI generated highly composable and editable 3D metaverse protocol built on top of Rune protocol. The goals of the strategic partnership are to grow the Gelios ecosystem, create integration between Koi and Gelios that becomes automatic in nature, jointly work on R&D for Layer 2 solutions as well as launch cooperative marketing efforts to drive user acquisition & retention. Gelios x KoiWe’re thrilled to reveal our new collaboration with @Koi_BTC, the first AI-generated, highly composable, editable 3D…
Spot bitcoin ETF flows have slowed after weeks of heavy buying. Only IBIT, BlackRock’s iShares Bitcoin Trust, continues its streak of consecutive daily positive flows. This is a normal development within the ETF space, an expert said. The initial euphoria for the spot bitcoin ETFs has seemingly dampened and reality is slowly kicking in with inflows recently unable to keep up with the still speedy pace of exits from Grayscale’s Bitcoin Trust (GBTC). The result is that in the week ended April 12, the spot ETFs as a whole saw a net outflow of 1,766 bitcoins. On last Friday and…
Aave, a leading crypto-lending protocol on the Ethereum network, has experienced significant growth in its total value locked (TVL), increasing by $2.26 billion since Monday. According to DeFiLlama data, this surge brought Aave’s TVL to $13.33 billion, which marks the highest level since May 2022. The increase is largely attributed to the positive market sentiment surrounding the potential approval of spot Ethereum exchange-traded funds (ETFs) by the US Securities and Exchange Commission (SEC). Anticipation of Spot Ethereum ETFs Fuels Aave’s Renewed Growth The AAVE token has also seen a notable increase, rising 13% over the past week. On Monday, its…
The U.S. Securities and Exchange Commission (SEC) has begun discussions with prospective issuers of Ethereum exchange-traded funds (ETFs) regarding their S-1 registration statements, according to a senior official at an issuing firm. SEC Working on S-1 Forms with Ethereum ETF Issuers “Basically, it’s just getting started,” the official said, noting that the SEC’s Investment Management Division seemed a bit surprised by the shift in focus on Ethereum ETFs. Despite the initial nature of these discussions, the source expressed cautious optimism about progress towards the Ethereum ETF, emphasizing that they do not expect the process to be halted. For Ethereum ETFs…