Author: NBTC
Financial Services Commission Chairman Kim Byung-hwan said he would “look into it” regarding the market domination of the country’s leading crypto exchange Upbit. In a national assembly meeting, legislator Lee Kang-il raised issues about Upbit’s dominance and its close partnership with the local bank, K-Bank. The online banking firm holds a significant portion of Upbit’s deposits, according to an Oct. 10 report in local media. Monopoly Concerns “I am aware of the issue of Upbit’s monopolistic system,” Lee said before adding [translation]: “The monopolistic trend toward one company, Upbit, started after its business partnership with K-Bank.” He then raised an…
With the recent rate cuts by the United States Federal Reserve (‘Fed’) providing a bullish trigger for the price of Bitcoin (BTC), the maiden cryptocurrency has managed to cross the critical level at $60,000 and continue upwards, and artificial intelligence (AI) algorithms have turned bullish. As it happens, for the first time in over four years, the U.S. central bank has cut the interest rates, and by no less than a half point, in an aggressive beginning of its easing campaign, helping Bitcoin to recover from its losses amid uncertainty prior to the Federal Open Market Committee (FOMC) vote. AI’s…
MetaWealth, the fintech startup disrupting real estate investment through tokenization, is set to make waves in London’s tech scene. In a groundbreaking move, MetaWealth is partnering with Superteam UK to launch The Square, the city’s first tokenized co-working space powered by the Solana blockchain. This revolutionary space aims to attract top talent from across Web3 and frontier technologies, further solidifying London’s reputation as a global tech hub.—Fractional Ownership in London’s Tech EpicenterFor the first time, retail investors will have the chance to invest fractionally in two premium co-working spaces in The Square, located in Shoreditch’s fintech heart. With iconic neighbors…
Several Layer-1 (L1) blockchain protocols have emerged as strong contenders in the decentralized ecosystem, offering unique solutions and supporting a wide range of blockchain applications. These L1s operate independently, validating and executing transactions without relying on other networks. While Ethereum remains a dominant force, protocols like Injective (INJ), Kaspa (KAS), Celestia (TIA), Sui (SUI), and Sei (SEI) have gained significant traction. Let us highlight the basic functionalities of the identified protocols while providing details on how their native tokens have performed of late. Injective (INJ) Injective is a DeFi-focused, interoperable L1 blockchain protocol with decentralized spot and derivative exchanges. It…
Ripple CEO Brad Garlinghouse expresses frustration over the SEC’s stringent crypto regulatory approach after the agency sued Cumberland for operating as an unregistered securities dealer. In an X post yesterday, the Ripple CEO called the public’s attention to fresh comments from SEC commissioner Mark Uyeda, who criticized the agency’s approach to the crypto industry as a disaster. SEC Commissioner Calls Agency Crypto Regulation a Disaster Speaking in an interview on FOX Business, Uyeda said the SEC has been implementing its crypto policies through enforcement actions. However, the regulator has also failed to provide the industry with the needed guidance. He…
After racking up 300 million players, hit Telegram tap-to-earn game Hamster Kombat launched its HMSTR token on The Open Network (TON) in late September. Now the team has shared a better sense of when the game will begin its next full-fledged season of gameplay, which will come with its own future airdrop. Season 2 of Hamster Kombat is set to arrive “very soon, at the end of October,” the game’s anonymous development team told Decrypt this week. Ahead of the airdrop, on September 20, the developers launched what was planned to be a short “interlude season” that would only last…
Binance has announced the addition of Binance Staked SOL (BNSOL) to its suite of financial products that includes Binance Simple Earn, Binance Convert, and Binance Margin, giving users new opportunities to interact with the popular staked asset. Starting on October 10, 2024, at 11:00 AM, Binance Simple Earn will offer BNSOL Simple Earn Flexible Products, allowing users to subscribe and earn rewards by staking their BNSOL assets. This flexible staking option allows participants to earn returns without locking up their assets for long periods of time. Binance Convert will begin offering BNSOL within an hour of its listing on Binance…
The government of Louisiana has officially begun accepting cryptocurrency payments, making it the latest U.S. state to embrace digital currencies for state services. Louisiana State Treasurer John Fleming announced earlier this week that residents can now use a number of digital assets as payment for various state services. Residents can now pay using Bitcoin (BTC), the Bitcoin Lightning Network, and the U.S. dollar-pegged stablecoin USDC. The state said its first cryptocurrency payment has already been processed—a fine paid to the Louisiana Department of Wildlife and Fisheries via the Bitcoin Lightning Network. According to Fleming, this development results from a collaboration…
H.C. Wainwright has initiated coverage on Galaxy Digital Holdings stock, offering a Buy rating and a price target of C$24. Analyst Mike Colonnese states that the U.S.-based digital asset-focused financial services firm’s shares offer the diversified exposure investors seek when looking for new positions. Galaxy’s business also suggests several near-term catalysts, including fundamental growth amid cryptocurrency’s impending 2025 bull market. The current price of GLXY stock does not yet reflect that a bull market has fully been priced in, the analyst noted. You might also like: UNI jumps 11% as Uniswap debuts its own layer-2 solution Unichain Analyst forecasts 36%…
In a dramatic turn of events, a crypto trader going by Db3P got significant attention for generating $10M out of just $800, only to recently see a fortune plunge. As per Arkham Intelligence, an on-chain analytics firm, the trader reportedly lost a substantial $5 million amount in terms of unrealized profit. The analytics platform provided the details of the trader’s activity in frequent updates on social media. UPDATE: This guy turned $800 into $10 Million & is now down $5 millionTrader Db3P bought $800 of MOO DENG in its first week and rode it up to highs of $10.2M on…