Author: NBTC
The investment in the XRP product was canceled due to crypto investment rules in Ireland. The asset manager had to quickly scrap the investment at a loss of $834. Jupiter Asset Management (JUN), the London-listed firm with assets under management of over $65.8 billion, had to scrap an investment in one of the crypto exchange-traded products (ETP) due to a compliance issue, the FT reported on Friday. Jupiter’s Gold & Silver fund had invested $2.58 million in 21Shares’ Ripple XRP ETP during the first half of 2023. However, the investment was flagged by the company’s “regular oversight process” and was…
Investors have plowed billions of dollars into spot bitcoin ETFs since they launched last month — and so far, it’s paying off. Altogether, the suite of new bitcoin-backed funds (not counting Grayscale Bitcoin Trust) have attracted $11.4 billion in capital inflows in the past five weeks. Their respective issuers, a set of 10 led by BlackRock, Fidelity, Ark, 21Shares and Bitwise, have then used that cash to buy bitcoin on behalf of ETF shareholders. They do so through crypto exchanges, mostly Coinbase and Coinbase Pro, but they also utilize prop trading firms such as the Dutch-founded Flow Traders. Spot ETFs…
The rollout of Ethereum layer-2 scaling network Blast hasn’t been without controversy, but even so, users have pumped the project with more than $1.3 billion in search of yield and airdrop rewards. Blast has now launched its test network, and is attempting to bring app developers into its ecosystem with a similar promise of airdropped tokens. On Tuesday, Blast announced that its testnet is now live, and that the project is trying to attract developers to start building with the launch of a “Big Bang” competition. Developers who enter their Blast apps into the competition will have the first chance…
Donald Trump, the former US president and sexual abuser who has been indicted on felony counts of falsifying business records, mishandling of classified documents, and conspiracy to overturn the 2020 election, has dabbled in NFTs before but is now offering Bitcoin Ordinals as a bonus to save his failing previous collection. Donald Trump sells the clothes off his back in latest NFT promotion Trump previously promoted this collection by offering dinners at his golf club or pieces of the suit he was arrested in, but now if you’re one of the first 100 people willing to purchase 100 cards at…
According to Bitfinex Head of Derivatives Jag Kooner, the cryptocurrency derivatives market is buoyed by the expectation that a spot Ethereum (ETH) ETF will be approved by the end of May. Traders are adjusting their ETH options contracts with an eye on the May 23 deadline, which is the final approval decision date for spot Ethereum ETF applications filed with the U.S. Securities and Exchange Commission by asset managers VanEck and Ark/21Shares. Kooner emphasized that there was a noticeable increase in the buy side open positions of long-term options for March, April and May. “This increase occurred mainly in the…
The Association of SMEs of the City of Torrevieja (Apymeco) is teaming up with Bitnovo Pay, a leading cryptocurrency payment solution to boost the development of the crypto industry in the province of Alicante, Spain. The organizations will work together to introduce a digital transformation project based on the use of cryptocurrencies as a means of payment in the city. The main goal of this initiative will be to provide the residents and guests of Torrevieja a unique experience with the creation of the first-of-kind crypto ecosystem with implementation of modern technologies. Emphasis will be on expanding trade opportunities, promoting…
The crypto sentiment seems to have flipped bullish after last year’s gains, and one MakerDAO data point may suggest that optimistic leveraged bets are making a comeback. The data point in question is MakerDAO’s revenue matrix and the fact that crypto-backed loans are now the DeFi protocol’s biggest revenue contributor above Maker’s much-vaunted real-world asset (RWA) vault. There and Back Again: DeFi-native Loans DeFi-native loans now make up 50.1% of MakerDAO’s projected $243 million annual revenue, according to data from crypto-native financial reporting and analytics firm Steakhouse Financial’s MakerDAO dashboard on Dune. Crypto-backed lending now stands at $2.4 billion for…
The interest in NFTs has cooled since its peak in 2021 and 2022, with a volume shrink and fewer projects surging in the market. Nevertheless, Bitcoin (BTC) and Solana (SOL) surged as the preferred home of new NFT deployments. In particular, three out of every four NFT launches in 2023 happened either on Bitcoin or Solana. The former captivated enthusiasts through the Ordinals Inscriptions but also raised controversy in the Bitcoin community. Notably, Bitcoin NFTs are unique because the media is actually stored in the blockchain instead of centralized databases. Most NFT blockchains are simply a hash ID pegged to…
Ethereum price gained traction and climbed above $2,400. ETH is now showing bullish signs and might extend gains toward the $2,550 level. Ethereum is gaining bullish momentum above the $2,380 zone. The price is trading above $2,350 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $2,400 on the hourly chart of ETH/USD (data feed via Kraken). The pair might correct lower, but the bulls could be active near the $2,400 support zone. Ethereum Price Gains Strength Ethereum price remained strong above the $2,250 level. ETH started another increase like Bitcoin and…
The Ukrainian parliament has passed the first reading of a bill to tighten mobilization rules and force people to war. If approved, these rules will allow the government to freeze bank accounts and people’s assets when caught dodging the draft. Ukraine proposed this draft bill on January 31 due to a plummet in the number of volunteer soldiers. Reuters reported the amended draft bill on the occasion and this most recent update on February 7. Notably, these tighter rules will affect Ukrainians living abroad, preventing them from accessing consular services with outdated military registration. The bill also proposes to lower…