Author: NBTC

Ethereum Foundation wallet transfers 15,254 ETH to Kraken. Dormant Ethereum address activates with $21.9M in ETH. ETH holdings increase to 16M post-ETF approval in the U.S. ETH has seen much action in the past few hours as an Ethereum Foundation-associated wallet transferred 15,254 ETH to the Kraken exchange. This transaction is estimated to be worth around $56.1 million; the news has created much debate among the cryptocurrency community members on its effects on the market. When the $ETH price started to drop, an #EthereumFoundation-related wallet deposited 15,254 $ETH($56.1M) into #Kraken 8 hours ago.The $ETH in this wallet comes from an…

DUBAI, April 19 (Reuters) – Stablecoin Tether’s recent growth is being driven by its use as an alternative to the U.S. dollar in emerging markets, rather than by demand for cryptocurrency trading, Tether CEO Paolo Ardoino told Reuters on Friday. Tether issues a stablecoin , also called Tether or USDT, which is designed to maintain a constant value of $1 and is widely used in crypto-to-crypto trading. It has grown rapidly in recent years, hitting more than $100 billion worth of Tether tokens in circulation in March. “In the last few years we have seen the usage of USDT going…

New York Attorney General Letitia James is not backing down from her lawsuit against Digital Currency Group, its founder and CEO Barry Silbert, and Soichiro “Michael” Moro, the former CEO of DCG’s wholly-owned crypto trading arm, Genesis. On Tuesday, James’ office filed a motion in opposition to DCG’s, Silbert’s and Moro’s motions to dismiss the case filed in March. Along with crypto exchange Gemini, James’ office has accused Genesis, DCG, Silbert and Moro of defrauding investors by working together to cover up a gaping $1 billion hole in Genesis’ balance sheet caused by the wipe-out of Singapore-based crypto hedge fund…

Trading platform Robinhood has agreed to buy U.K.-based crypto exchange Bitstamp for $200 million in cash. U.K.-based Bitstamp was founded in 2011 and is one of the largest crypto exchanges in Europe. The acquisition is hoped to allow Robinhood to expand its crypto presence globally and attract institutional clientele. Trading platform Robinhood (HOOD) has agreed to acquire crypto exchange Bitstamp as it looks to expand its crypto presence globally and attract institutional clients through new product offerings, the company announced Tuesday. The $200 million all-cash deal is expected to close in the first half of 2025, according to the press…

This article was first published in July 2022 and updated in June 2024. For many years, the idea that publicly traded corporations might buy Bitcoin for their reserves was considered laughable. The top cryptocurrency was considered too volatile, too fringe to be embraced by any serious business. That taboo has been well and truly broken, with a number of major institutional investors buying up Bitcoin in recent years. The floodgates first opened when cloud software company MicroStrategy bought $425 million worth of Bitcoin in August and September 2020. Others followed suit, including payments processor Block and EV manufacturer Tesla. Per…

Over the past seven days, the stablecoin sector has expanded by $2.81 billion, bringing the dollar-pegged cryptocurrency market close to a total valuation of $160 billion. A significant portion of this growth, exceeding $2 billion, is attributed to the increase in USDT’s market capitalization, which reached $109.38 billion by Friday at 1:00 p.m. Eastern Time. Tether, USD Coin Lead Robust Week for Stablecoins as Others Fluctuate Stablecoins have expanded more swiftly this year compared to the previous one. Just a week earlier, the stablecoin market was valued at $155.86 billion; today, it stands at $158.67 billion, reflecting a 1.8% increase.…

Bloomberg ETF analyst James Seyffart called for freedom of information access (FOIA) requests regarding the SEC’s approval of spot Ethereum ETFs. In a June 5 KITCO interview, Seyffart said that public requests should search for “emails, calls, [and] anyone that had conversations with [SEC chair] Gary Gensler” to determine what happened during the SEC’s decision-making process. He said unused denial orders could exist due to the agency’s rapid change in stance. Voting is unclear Seyffart said the SEC approved the spot Ethereum ETFs through delegated authority, a common approach but a rare choice for the issue at hand. Delegated authority…

MasterCard is understood to be resuming services for payments and deposits in crypto on Binance. Mastercard withdrawal services have not been resumed as yet but this is expected to happen at a later date. The Binance-branded Visa card has also resumed functionality on the exchange. Binance can once again allow Mastercard users to purchase cryptocurrencies on the world’s largest exchange, after the card giant switched off that capability in August of 2023. As well as allowing payments using Mastercard, Binance-branded Visa card has also resumed functionality on the exchange. Withdrawal services using Mastercard will be resumed at a later date,…

The Bitcoin recent foray into $70,000 price territory has again become a hot topic among investors, with many looking at a positive price outlook. As a result of this fascinating price action, the vast majority of long-term holders have seen their holdings cross into profit zone. Particularly, the positive outlook seems to be positive among US-based investors, as shown by the Coinbase premium turning positive. Some see the return of the Coinbase premium as a bullish signal that could continue to drive the price higher. Coinbase Premium Index Flips Positive The Coinbase Premium Index (CPI), which had been trading in…

Gavin Wood, the founder of the Polkadot protocol, has unveiled a new Gray Paper outlining the forthcoming Join-Accumulate Machine (JAM) upgrade for the network. This announcement occurred during Wood’s presentation on Polkadot’s future at the Token2049 crypto conference in Dubai. Wood introduced the JAM Implementer’s Prize, a 10 Million DOT prize pool, to encourage diverse development of the JAM protocol. Polkadot Unveils JAM Upgrade According to the announcement, the JAM upgrade aims to replace the relay chain, which acts as the central data chain in the Polkadot network, with a “more modular and minimalist design” that will allow Polkadot to…