Author: NBTC
In a recent tweet, Ripple CTO David Schwartz provided insights into the clawback feature of XRP Ledger (XRPL). This feature has remained a subject of discussion within the XRP community, and Schwartz’s recent insight has helped clarify its importance and functionality. According to Schwartz, the primary purpose of the clawback feature is to address situations where the ledger is incorrect. He added that if a digital asset represents a legal obligation, and the token indicates that the obligation exists when the legal system says it does not, then the ledger is fundamentally wrong. Responding to a discussion on X as…
The judge in the Tornado Cash case delivered an oral ruling today, rejecting both the Defense’s motion to compel discovery and their motion to dismiss the charges. This represents a massive setback for the Defense, and the judge’s reasoning may not bode well for developers and projects going forward. Motion to Compel The Defense’s motion to compel discovery sought to access a broad range of government communications, including exchanges with foreign authorities under the Mutual Legal Assistance Treaty (MLAT) and with domestic agencies like the Office of Foreign Assets Control (OFAC) and the Financial Crimes Enforcement Network (FinCEN). Citing Federal…
Bitcoin (BTC) is still in an over six-month downtrend, displaying a shorter-term side action in what the market calls consolidation. Bulls and bears are fiercely disputing the narrative, while the price illustrates analysts’ disagreement on the leading cryptocurrency’s next move. Interestingly, bear traders momentarily dominate Bitcoin’s open interest in the derivatives market, with short-sellers increasing their positions over long traders. In particular, the long/short ratio shows that 57.77% of Binance’s open positions were shorting BTC on September 27. This data is from Ali Martinez, gathered at 6 a.m. UTC, and also displays a surge favoring the bears. If this trend…
Ethereum, the second-largest cryptocurrency by market capitalization, has yet to reclaim the $3,000 price level since early August. Since the beginning of September, Ethereum has mostly traded below $2,600, but this week brought a glimmer of hope for investors as it finally managed to break above the $2,600 threshold. Now that this resistance threshold has been broken, the next outlook is a continued surge up until the $3,000 price level. An analysis on the CryptoQuant platform points to a potential catalyst for this move to the upside. Notably, this analysis identifies an emerging bullish trend in Ethereum’s funding rates as…
Ripple’s bond with DIFC to improve its presence in Dubai, increasing influence across the Middle East. DFSA’s approval of Ripple’s XRP provides legal clarity, showing the UAE’s stance on cryptocurrency and blockchain innovation. The bond is set to fasten blockchain adoption in the UAE, focusing on companies and practical applications. Ripple, the founder behind the XRP token, announced a new deal with the Dubai International Financial Centre. This joint effort is set to adjust innovation in blockchain and digital assets across the United Arab Emirates. Ripple, DIFC Intergration Ripple has shown its plans to upgrade its global presence by merging…
Binance co-founder Changpeng Zhao, known in the crypto world as “CZ,” is scheduled to be released on Friday evening, following a 4-month stint in prison after pleading guilty to failing to “maintain an effective anti-money laundering program,” Although his prison term was officially slated to end on Sunday, according to prison rules, inmates whose official release date is set for a weekend or holiday can be discharged on the last preceding weekday—unless circumstances warrant further detention. Despite when he’s actually released, Zhao faces strict limitations on his involvement with Binance, the world’s largest cryptocurrency exchange by trading volume, which he…
Liquidity is projected to surge into the crypto market in the fourth quarter of the year, creating a favorable environment for a potential parabolic rally in both Bitcoin (BTC) and altcoins. This influx of capital could drive prices higher as investors look to capitalize on the anticipated momentum. Today, Bitcoin’s price surged past $65,000, marking a significant milestone. However, according to a recent report, this rise is just the beginning of a potentially massive price boom. The anticipated surge is likely fueled by the return of retail investors and an influx of billions of dollars from the Chinese market. More…
Ethereum ETF inflows and positive funding rates could help maintain bullish momentum. Investors need to be cautious of ETH’s rising exchange reserve. Ethereum could retest the $2,707 resistance after bouncing off the 50-day SMA. Ethereum (ETH) traded around $2,640 on Thursday, up more than 2% following increased bullish bias among investors, as evidenced by ETH ETF net inflows and an uptrend in funding rates. However, investors may be wary of a potential correction from ETH’s rising exchange reserve. Ethereum ETF inflows and positive funding rates paint bullish outlook Ethereum ETFs recorded net inflows of $43.2 million on Wednesday, bringing their…
The Canadian Securities Administrators (CSA) updated stablecoin regulations for crypto asset trading platforms. This latest development comes as the CSA extended the compliance deadline for registered firms to meet new conditions or propose alternatives to protect investors. Investors have endured significant losses due to the collapse of unregulated stablecoins and the actions of unregistered crypto market participants. Despite global efforts to develop payment-based and banking-based regulatory frameworks for these assets, Canada lacks a structured regulatory regime addressing the crypto asset class. The CSA, however, remains focused on protecting Canadian investors from the risks posed by trading these assets. The CSA…
Cantor Fitzgerald CEO Howard Lutnick called on regulators to treat Bitcoin (BTC) like gold and oil because it is a commodity. Lutnick made the statement during an appearance on Fox Business show “Mornings with Maria” on Sept. 27, where he also criticized regulators and lawmakers for failing to supervise and support the digital asset industry. According to Lutnick, regulators are unable to supervise the industry properly because they don’t understand the importance of Bitcoin and crypto or how important it is to “get it right.” He said: “They [regulators and politicians] don’t know how to [regulate] crypto or digital at…