Author: NBTC
A group of 108 former federal prosecutors and agents have signed a public letter to U.S. Secretary of State Antony Blinken urging the State Department to “step up” its efforts to secure Binance compliance head Tigran Gambaryan’s release from a Nigerian prison, Axios reported Thursday evening. The letter, reportedly spearheaded by investor and Coinbase board member Katie Haun – a former federal prosecutor – called the government’s minimal efforts to intervene on Gambaryan’s behalf “wholly lacking,” stressing that the “consequences of further inaction are potentially dire.” Gambaryan, a former Internal Revenue Service (IRS) agent and Binance’s current head of financial…
Key Points: Ethereum Pectra upgrade will introduce the EVM Object Format (EOF). Vitalik Buterin’s proposed EIP-7702 will enable Ethereum account addresses to temporarily function as smart contract wallets during transactions. Petra, slated for release in the first quarter of 2025, is set to be one of Ethereum’s most comprehensive upgrades. Ethereum’s core developers have reached a consensus to incorporate the EVM Object Format (EOF) in the forthcoming Pectra upgrade, as outlined in EIP-7692. Ethereum Pectra Upgrade Will Include EIP-7702 and EVM Object Format for Optimized Experience 2 Ethereum Pectra Upgrade Introduced EOF and EIP-7702 This addition, encompassing approximately 11 EIPs,…
ImmutableX unlocked 34.19 million IMX tokens worth over $69 million early on Friday. IMX circulating supply increased over 2% following the unlock. The Layer 2 blockchain token’s price added nearly 3% to its value on April 19. ImmutableX (IMX) price climbs nearly 3% on Friday despite its token unlock, finding some support at the $1.80 region and extending the 7% gain from the previous day. The project, which ranks among the top 15 Ethereum Layer 2 solutions by market capitalization, unlocked 34.19 million IMX tokens on Friday for ecosystem and project development and private sales. IMX price resists correction despite…
US Treasury Secretary Janet Yellen expressed significant concerns about the potential dangers artificial intelligence (AI) poses to the stability of the financial system. Yellen made the remarks during a keynote address at a conference on AI and financial stability on June 6. Her speech stressed the urgency of addressing these emerging risks and called of both the government and private sectors to collaborate on finding solutions. The Treasury secretary said: “This [AI] is a rapidly evolving field. We have our work cut out for us.” Increasing risk Yellen acknowledged the advancements AI has brought to the financial sector, such as…
Market forces are at play as Bitcoin consolidates at the $70,000 mark, signaling an imminent breakout. At press time, Bitcoin was 3% shy of registering a new all-time high. The high record was made following market hype, which led to Bitcoin halving. Bitcoin halvings have historically been bullish. Also Read: Bitcoin Volatility: Is accumulation and low volatility the last stages before a big market move? This article analyzes Bitcoin’s movements on the charts and examines fundamentals that will inspire the next breakout. Will Bitcoin reach $100k? Bitcoin Daily Chart: Bitcoin breaks the May price range Bitcoin daily chart Bitcoin closed…
Hong Kong is considering the integration of staking rewards into its spot Ethereum exchange-traded funds (ETFs), according to Yat Siu, the Chairman of Animoca Brands. Siu anticipates that approval for this initiative might be granted by the year’s end. He noted that discussions regarding Ethereum staking are progressing and expects Hong Kong to greenlight staking before the United States. This development is seen as a pivotal move in the region’s financial landscape. Contents hide 1 Preparations for Ethereum Staking 2 Comparing Crypto ETF Markets 3 Takeaways for Investors Preparations for Ethereum Staking Asset managers in Hong Kong are diligently working…
BitMEX founder Arthur Hayes has taken aim at Solana, describing the network’s transaction metrics as “bullsh.t” Layer-1 blockchain network Solana has dominated crypto news headlines in recent weeks for crumbling in the face of peak user demand. At some point in the past month, a majority of user transactions failed, a situation in which Solana developers deferred to increased bot attacks and surging demand for block space. While the Solana ecosystem has recently released a new version to address the network’s challenges, these improvements have not stopped former BitMEX CEO Arthur Hayes from calling attention to Solana’s challenges. In a…
While Protos, along with other media outlets, was quick to point out that the Donald Trump-era law the ‘First Step Act’ could be a road to early release for Sam Bankman-Fried, Ryan Salame, and other first-time, nonviolent offenders, it turns out that the law is less about ‘the letter of the law’ than it is about a judge’s discretion. Indeed, if we take a look at a previous example of a massive financial fraudster attempting to use the act to get early release, it seems incredibly unlikely that Bankman-Fried or Salame can expect to have a significant amount of time…
Stronghold Digital Mining reported a 47.1% decline in its monthly Bitcoin mining output in May. The firm mined 82 BTC during the first full month following the halving, compared to 155 BTC in April. Meanwhile, revenues for the month came in at $5.2 million, a 46% drop from the previous month. Stronghold explicitly attributed the drop to the halving. The firm said: “The primary driver of the decline was due to the first full month of post-halving operations.” The company also reported an average hash price of $0.052 per TH/s in May, down from 0.095 in April. It attributed the…
Options traders are increasing their bets that Bitcoin will reach a record high by the end of the month, driven by optimism about lowering US interest rates and increased inflows into ETFs. Bitcoin call options with a strike price of $75,000 across all maturities currently have the largest open position, that is, the number of pending contracts. This is followed by strike prices of $100,000 and $80,000, respectively, according to data compiled by Deribit, the largest cryptocurrency options exchange. Call options provide buyers with the right to purchase the underlying asset at a fixed price within a certain period of…