Author: NBTC
Former FTX customers are finally able to take a sigh of relief knowing that Sam Bankman-Fried has been sentenced to 25 years in prison. Manhattan Federal Judge Lewis Kaplan issued the 25-year sentence to Bankman-Fried, while prosecutors pegged the FTX saga to be one of the biggest financial frauds in American history. But while this may mark the end of a chapter for FTX, a number of questions still linger. For instance, many individuals within the crypto industry are left wondering whether or not a 25-year prison sentence for Bankman-Fried is enough. 👨⚖️ What do you all think of 25…
Recent developments in the financial markets have sparked debate over whether investors are shifting their assets from gold exchange-traded funds (ETFs) to Bitcoin ETFs. Despite the rapid growth of bitcoin ETFs in the US, research from investment banks suggests that the emergence of these digital asset funds has not significantly impacted gold ETF outflows. How Bitcoin ETFs Are Not Causing Outflows in Gold ETFs Bitcoin ETFs globally attracted $11.3 billion by March 21, even as the Grayscale Bitcoin ETF saw substantial outflows. Concurrently, gold ETFs experienced a $7.7 billion reduction, despite gold reaching a record $2,200 per ounce. This led…
The Ethereum Foundation researchers’ original goal was partly to keep the liquid-staking industry’s dominance from growing even further – by reducing the incentives for new stakers. But the proposal has led to pushback from some quarters of the community, who question whether the change is needed, or if these sorts of manual adjustments can succeed in addressing the desired changes in market demand. The discussion also has prompted some observers to wonder aloud if the Ethereum Foundation, where Vitalik Buterin works, wields too much influence over the decentralized network. Earlier this year, a pair of Ethereum Foundation (EF) researchers put…
IOTA Grants aims to alleviate funding barriers faced by innovators in the Web3 landscape. IOTA Grants focus on open source development, Research, Education, and Events, essential pillars for advancing innovation within the IOTA ecosystem. The IOTA Ecosystem DLT Foundation unveils a groundbreaking initiative, IOTA Grants, aimed at addressing the funding challenges encountered by innovators and creators in the rapidly evolving realm of Web3. With an acute awareness of the financial barriers hindering many aspiring builders worldwide, IOTA Grants will offer vital financial assistance to individuals with promising ideas but limited resources. Furthermore, the primary objective of this initiative is to…
The European Securities and Markets Authority (ESMA) flagged a technique employed by some crypto miners as a potential form of market abuse in its latest regulatory proposals under MiCA. Crypto policy watchers want the regulator to clarify that reordering transactions to maximize profits, known as MEV, is not all bad. The European Union markets regulator flagged maximum extractable value (MEV), whereby blockchain operators reorder user transactions to maximize their own profits, as a potential form of market abuse, a stance that is worrying some industry watchers who say the case is not clear-cut. In regulatory proposals published last week by…
Binance, the leading cryptocurrency exchange, has unveiled more stringent know-your-customer (KYC) measures. Starting from Apr. 20, unverified users without the required KYC information will no longer have access to their sub-accounts that were created as part of the Binance Link program. This measure will also affect the sub-accounts that were created only for depositing cryptocurrencies. The Binance Link program, which was launched in September 2019, makes it possible for enterprises to scale their businesses with the help of Binance’s technology. It offers “plug and play API” to various customers such as exchanges, asset managers, trading bots, cryptocurrency wallet providers and…
JPMorgan has projected a confident stance regarding the US Securities and Exchange Commission’s (SEC) eventual green light for spot Ethereum exchange-traded funds (ETFs). Despite earlier this year giving a no more than 50% chance for approval by May, optimism persists within the firm. Ethereum ETF Approval Odds Improve Nikolaos Panigirtzoglou, managing director and global market strategist at JPMorgan, expressed that a delay beyond May could trigger a litigation process akin to previous legal battles involving Grayscale. He anticipates the SEC could face a defeat in such litigation. This could pave the way for the eventual approval of Ethereum ETFs, albeit…
The Brooklyn District Attorney’s office has seized 21 web domains associated with fraudulent cryptocurrency investments and “pig butchering” scams. The operation targeted scams known as “pig butchering,” where scammers gain victims’ trust through dating apps or other platforms and manipulate them into making bogus investments, The Associated Press reported Thursday. “Pig butchering is a growing type of scam that defrauds residents of Brooklyn and the entire country out of billions of dollars every year,” Brooklyn District Attorney Eric Gonzalez said in a statement: “My office’s strategy is to disrupt these schemes by seizing and shutting down their online infrastructure, and…
South Korean financial authorities are preparing to unveil new guidelines aimed at imposing stricter regulations on token listings on centralized crypto exchanges. According to the report, the upcoming guidelines are set to prevent tokens issued by projects that have been victims of hacking incidents and have not yet addressed vulnerabilities from being listed on local exchanges. Moreover, the Financial Services Commission (FSC) in South Korea may require foreign token projects to develop white papers specifically tailored for the local market to secure their listing on local exchanges. However, tokens that have already been listed on licensed exchanges for a period…
Bitcoin (BTC) made a significant move towards the $66,000 level today, continuing the ongoing volatility in the cryptocurrency market. Bitcoin Tests $66K as Analysts Expect More Volatility Before Calm Market watchers predict more volatility ahead, despite some signs of consolidation. Pythagoras Investments Capital Formation Director Semir Gabeljic drew attention to the recent fluctuation in Bitcoin, referring to the 10% drop experienced at the beginning of the week. Gabeljic attributed this volatility to spot Bitcoin ETF outflows of approximately $300 million from Grayscale Bitcoin Trust (GBTC) on March 20. He noted that such declines are typical before Bitcoin halving events and…