Author: NBTC
Terraform Labs (TFL) on Wednesday revealed its plan to shut down its operations, products, and services if talks with third parties fail. The beleaguered company and its CEO Chris AMANI confirmed they received an order from a bankruptcy court to cease operations following a settlement with the SEC. In a post on social media platform X on September 25, Terraform Labs announced progress in talks with third parties to outsource some of its products and services. With confirmation from Terra CEO Chris Amani, the company’s products and services will be shut down on October 30, 2024. TFL hints that third-party…
FOX Business Journalist Eleanor Terrett reveals a new deadline for the U.S. SEC to file Form C regarding its appeal against Ripple. There has been speculation that the Second Circuit might dismiss the SEC’s appeal against Ripple. This speculation gained momentum after some experts pointed out that the securities agency missed the Form C filing deadline. SEC Form C Filing Notably, the SEC was required to file the Form C within 14 days after it notified the court of its appeal intentions. However, there has been a misunderstanding regarding the appropriate deadline for the Form C filing. Since the SEC…
The Bitcoin (BTC) chart is hinting toward a massive price drop. The coin has already been struggling with an extended consolidation period, and this potential decline could make the situation worse. It is not a minor decrease; we are talking about a drop of almost 45% in the BTC price. This is a serious warning for the community, as it can have broader impacts on the market. Ali Martinez, an experienced trader and on-chain analyst, shared his analysis of this potential price dip on X (formerly Twitter). He explained that history suggests that when the Bitcoin price is trading above…
It’s hard for projects to beat the returns offered by staked ether on a risk-adjusted basis. Consequently, the asset and its yield are becoming a benchmark for the crypto economy in similar fashion to the fed funds rate and the traditional economy. Slowly but surely, staked ether (stETH) is becoming a benchmark for the entire on-chain economy. According to a new report from investment management firm ARK Invest, Ethereum’s monetary policy has turned staked ether into a unique type of asset – one that resembles sovereign bonds. “The ETH staking yield is a gauge for smart contract activity and economic…
The President of the Central Bank of the Latin American giant announced plans to expedite the regulation of asset tokenization and stablecoins by 2025. The bank will issue a new consultation this month to gather more input on the rules for approving VASPs’ operations in the country. Central Bank of Brazil to Expedite Asset Tokenization and Stablecoin Regulation to 2025 Brazil is becoming a cryptocurrency hub in Latam, and its authorities are working to provide clearer regulations for crypto companies. Roberto Campos Neto, president of the Central Bank of Brazil, announced that he estimates rules dealing with asset tokenization and…
Cyprus’s financial regulator is giving crypto-asset service providers a narrow window to operate under existing national regulations before new EU-wide rules take effect. The Cyprus Securities and Exchange Commission (CySEC) announced today (Thursday) it will stop accepting notifications from European Economic Area (EEA) firms for cross-border crypto services on October 30, 2024. This deadline comes just two months ahead of the Markets in Crypto-Assets (MiCA) implementation for crypto service providers, set for December 30. Firms that successfully notify CySEC by the October 30 cut-off will be permitted to continue their cross-border operations during a transitional period lasting until July 1,…
The cryptocurrency market has witnessed a sharp increase in liquidations over the past 24 hours, with total liquidations reaching a staggering $287.65 million. This surge in liquidations reflects significant market volatility, impacting both long and short positions across major exchanges. LIQUIDATION DATA IN 24 HOURS TOTAL LIQUIDATIONS: UP TO $287.65M TOP 5 COINS WITH HIGHEST LIQUIDATION: $BTC ~ $80.00M $ETH ~ $66.52M… pic.twitter.com/RNPIxFMC5d — PHOENIX – Crypto News & Analytics (@pnxgrp) October 16, 2024 Bitcoin ($BTC) has seen the largest liquidation value, with approximately $80 million wiped out, equivalent to 1.18K BTC. This is followed closely by Ethereum ($ETH), which…
Jamie Coutts, chief crypto analyst at Real Vision, has taken to his account on the X platform (formerly know as Twitter) to warn Bitcoin holders in Australia over the “Orwellian legislation” that may include them as potential law violators. Holding Bitcoin could become illegal in Australia, Coutts suggests Coutts shared a tweet published by writer and journalist Alex James about the recent legislation passed in Australia. The analyst referred to it as “Orwellian” since it warns about “serious harm” that can allegedly be caused in certain aspects of public life, both toward other citizens and elements of the local state…
Ethereum’s adoption of layer-2 networks could cost ETH trillions of dollars in potential market capitalization over the next few years if its associated dynamics remain unbalanced, according to VanEck Head of Digital Assets Research Matthew Sigel. In a Twitter (aka X) post, the analyst posited Thursday that Ethereum’s “changing fundamentals suggest a model update is in order.” Instead of climbing to $22,000 by 2030, Ethereum’s price projection would plummet 67% to $7,300 if “the current reality” was reflected, Sigel wrote. VanEck’s model factors in Ethereum’s expected growth in total value locked, reflecting the value of assets used in decentralized finance…
Before bitcoin took the spotlight, several digital currencies aimed to change the way we exchange value, but none could withstand the test of time. Ecash, E-gold, Liberty Reserve, and Q coins each had their moment, only to fall short in the end. This piece dives into their stories and uncovers how bitcoin, introduced by Satoshi Nakamoto in 2008, managed to outlive these early digital money experiments. How Bitcoin Surpassed Its Predecessors: Ecash, E-gold, Liberty Reserve, and Q Coins Bitcoin wasn’t the first attempt at digital currency. Years before its debut, a handful of systems emerged, all striving to create new,…