Author: NBTC
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…
Kaiko has recently revealed a partnership with Gemini, a reputable crypto trading and storage platform. This partnership revolves around the Gemini Foundation and the derivatives trading platform provided by Gemini. It will implement Kaiko Benchmark Reference Rates marketplace. Kaiko is thrilled to announce its partnership with @Gemini Gemini Foundation will be using Kaiko Benchmark Reference Rates for its derivatives trading platform.Read the full announcement, below 👇 https://t.co/RVh5FkxqxC — Kaiko (@KaikoData) June 6, 2024 Kaiko Benchmark Reference Rates Enhance Portfolio Valuation It is a global company that specializes in offering derivatives trading services in various areas. Initially, the platform was built…
Bitcoin’s price has been pretty steady at around $70,000 for a while now, since mid-May. Despite this, the cryptocurrency’s price has shown minimal movement, fluctuating within a narrow 6% range. This period of low volatility has frustrated market participants, particularly as Bitcoin’s all-time high of $74,000 remains tantalizingly close yet seemingly out of reach. The lack of movement in the price has seriously annoyed traders and investors, and there has been a lot of talk about price manipulation. Adam Back, who is a contemporary of Bitcoin’s mysterious creator Satoshi Nakamoto, addressed these concerns in a recent discussion. Back suggested that…
Financial Challenges Stall IPO Plan In 2019, Chia Network,the parent company of inventor Bram Cohen’s BitTorrent, had serious troubles during its IPO. The ambitious plans of the crypto firm were disrupted temporarily,because there was financial distress at its banking partner Credit Suisse Progress Amidst Setbacks Notwithstanding the upheaval, Chia Network (xch) has persisted in a resolute push towards its aim of going public. Gene Hoffman, the CEO, shared his view during a conference hosted by law firm Brown Rudnick in Manhattan and came out with the latest details. “We confidentially filed a form S-1/A with the SEC at the end…
Binance, the world’s largest cryptocurrency exchange, has published its 19th proof of reserve in order to bring transparency to the assets held by the platform. The snapshot was taken on June 1 and reveals significant changes in user holdings in various cryptocurrencies. User BTC holdings increased by 534 BTC compared to May 1, reaching 582 thousand. The ratio of customer net balances to Binance net balances was 106.70%, and Binance holds a total of 621,329,612 BTC. The exchange balance is 602,614,161 BTC, and an additional 18,715,451 BTC is held in third-party custody. User ETH holdings reached 4.664 million, a significant…