Author: NBTC
The Tron Network is celebrating a major milestone after registering a total account exceeding 216 million. Attributing the feat to its efforts toward decentralizing the web, the network welcomed the 216,200,837 accounts over a steady evolutionary course since its inception in 2017. Tron plays a key role in the digital currency ecosystem, recognized as one of the layer-1 protocols that facilitate cheap and fast transactions. Tron is also one of the most popular protocols housing the Tether (USDT) stablecoin. Tron Network Statistics Beyond the total number of accounts registered on the platform, crypto analytics platform IntoTheBlock (ITB) shared deeper insights…
A federal appeals court has reinstated its lawsuit against cryptocurrency exchange Binance. Reuters reported on March 8 that the lawsuit, in which investors accused Binance of violating U.S. securities laws by selling unregistered tokens, was renewed. According to the document, investors claim that the exchange sold tokens that lost most of their value. The appeals court also said investors could bring claims related to purchases made in the year before the lawsuit was filed. Seven tokens — aelf (ELF), EOS (EOS), FUNToken (FUN), Icon (ICX), OMG Network (OMG), Quantstamp (QSP), and Tron (TRX) — that investors bought through Binance starting…
Quick Take Data from BitMEX shows that the Bitcoin exchange-traded funds (ETFs) observed an inflow of approximately $473 million, equivalent to about 7,000 BTC on March 7. Fidelity’s FBTC topped the charts with a record-breaking inflow of $473 million, marking its largest single-day inflow. This surge increased its total net inflows to over $6 billion and expanded its Bitcoin holdings to roughly 120,000 BTC. BlackRock’s IBIT has consistently registered robust inflows, with a recent $244 million, elevating their total net inflow to $9.7 billion and Bitcoin holdings to roughly 191,000. Bitwise’s BITB and Ark’s ARKB, the mid-tier ETFs, also experienced…
Binance Labs Invests in Seven Early-Stage Projects Building Across DeFi, Infrastructure & AI-Powered DApps Binance Labs, the venture capital and incubation arm of Binance, has invested in seven top-performing projects from the sixth season of its Incubation program. The 2-month incubator which commenced in December 2023, is designed to empower early-stage founders offering 1:1 mentorship from the Binance Labs Investment team, in addition to access to resources and experts across the Binance ecosystem. Hundreds of projects applied for participation in season 6, with 3% being admitted to the program. Yi He, Co-Founder of Binance and Head of Binance Labs, said:…
A new opportunity has been given to a group of investors who are trying to sue Binance and its former CEO Changpeng Zhao and other executives. The decision came after an appeals court overturned a lower court decision that had previously dismissed the case. The Second Circuit Court of Appeals ruled today that the proposed class action lawsuit against Binance should not have been dismissed by a federal judge in the Southern District of New York. The lawsuit was first filed in April 2020 by a group of cryptocurrency investors who claimed to have purchased securities from Binance, including ERC-20…
The cryptocurrency market is witnessing a significant development as the inventory of on exchanges dwindles, signaling a potential uptick in market bullishness. Renowned cryptocurrency analyst Willy Woo has brought this phenomenon to light, providing a detailed analysis that correlates the declining Bitcoin inventory with an anticipated rise in market prices. Willy Woo’s observations, highlighted in his recent tweet, draw attention to a crucial chart showcasing the relationship between Bitcoin’s inventory on exchanges and its market price. According to Woo, the key indicator to watch is the ‘pink squiggly line’ representing the inventory levels of Bitcoin on exchanges. He notes that…
Hong Kong’s effort in digital currency gains momentum with Microsoft and Ant Digital partnering with the Hong Kong Monetary Authority (HKMA) on a pioneering wCBDC project. Notably, this collaboration marks a key step in bolstering Hong Kong’s status in digital finance innovation. Microsoft’s Focus On Digital Currency Project In a pioneering move, the Hong Kong Monetary Authority (HKMA) has unveiled plans for a wholesale Central Bank Digital Currency (wCBDC) pilot. This strategic move is aimed at exploring tokenized deposits and assets, as well as establishing a platform for central bank digital currency settlement. Besides, the initiative, known as “Project Ensemble,”…
Decentralized protocol Injective has announced the launch of its inEVM layer 2 accumulative solution on the mainnet. According to a post from the Injective team on Mar. 7, Injective is launching inEVM on the mainnet, the first Ethereum Virtual Machine capable of achieving true composability across Injective and Ethereum. 1/ Injective #inEVM is live on mainnet, the first ever rollup designed to supercharge concurrent VM development.inEVM enables Ethereum developers to build dApps that leverage blazing fast speeds & near zero fees while achieving composability across WASM and EVMRead on 👇 pic.twitter.com/OXtPQTVnvx — Injective 🥷 (@injective) March 7, 2024 “Injective’s inEVM…
In a significant development in the blockchain arena, CyberConnect has announced the launch of ‘Cyber,’ a groundbreaking Layer 2 (L2) solution, crafted explicitly for the social domain and poised to fuel mass adoption of Web3. Revealed through a tweet, the initiative is a collaborative effort powered by EigenLayer and Optimism, and in partnership with AltLayer. Cyber emerges as the first modular L2 solution distinctly engineered for social engagement and widespread acceptance. It addresses the pressing need for a decentralized social framework that empowers user ownership and redistributes the value currently monopolized by Big Tech giants. By leveraging this new platform,…
Defendants Binance, Binance.US, and co-founder Changpeng “CZ” Zhao have filed a joint response to plaintiff U.S. Securities and Exchange Commission (SEC) trying to emphasize the relevance of default judgment in Coinbase insider trading case SEC v. Wahi in the Binance lawsuit. Binance Response to US SEC’s Supplemental Authority In a court filing late March 8, Binance Holdings submitted a response to the U.S. SEC’s notice of supplemental authority. Binance attorneys said the Wahi default judgment came in response to no opposition by defendant Sameer Ramani in the Coinbase insider trading case and the decision simply recited the SEC’s statutory arguments.…