Author: NBTC

Inside sources say Binance is working with Spanish bank BBVA to keep crypto assets off exchanges, allowing customers to store digital assets in the bank instead of the platform. According to a recent report by the Financial Times, the major crypto exchange has tapped Spain’s third largest bank, Banco Bilbao Vizcaya Argentaria or BBVA, as one of a handful of trusted independent custodians, according to people familiar with the deal. The arrangement means that traders’ funds will be stored on the Spanish bank in U.S. Treasuries, which Binance then accepts as margin for trades on the exchange. The move comes…

Canaan has withdrawn from two of its bitcoin mining locations—Kazakhstan and an underperforming hosting site in South Texas—as part of a shift to optimize its operations. This article is from Theminermag, a trade publication for the cryptocurrency mining industry, focusing on the latest news and research on institutional bitcoin mining companies. The China-based miner manufacturer mined 89 BTC in July, according to its latest production update. This translated to a realized hashrate of 5.56 EH/s, down from 6.67 EH/s in May and 5.82 EH/s in June. The decline was primarily due to Canaan’s planned exit from Kazakhstan and the early…

Ethereum failed 3 times at $4K but now shows signs of a possible move higher after touching support. The chart shows ETH bouncing from a key green zone, which could be the missing step before a breakout. Traders now watch ETH closely at $3.8K, as historical behavior suggests $4K could be passed this time. Ethereum (ETH) is approaching the $4,000 resistance level after reclaiming a major trendline, based on analysis from Benjamin Cowen. The crypto asset had previously failed to break past this psychological level on three separate occasions. But Cowen’s annotated chart suggests the narrative could now shift as…

Indonesia’s crypto tax revenue continues to rise, reaching as high as $36.40 million yearly. The government is preparing to hike up the tax rate for crypto transactions this month. According to data from the Directorate General of Taxes reported by local media outlet Tirto, Indonesia’s cryptocurrency tax revenue managed to reach between Rp500 billion ($31.25 million) to Rp600 billion ($36.40 million) on a yearly basis. Compared to the first time the nation began collection tax from crypto revenue back in 2022, this number has more than doubled from just $15 billion in a year. Although the amount of crypto tax…

The US Securities and Exchange Commission’s latest comments on liquid staking have sparked a mix of optimism and concern, highlighting the regulatory gray area surrounding one of crypto’s fastest-growing sectors. While some in the industry see the nonbinding guidance as a step forward for institutional and retail adoption, others warn it leaves key legal questions unresolved and could face challenges down the line. “First, these guidelines are not law… and they could be contested at some point,” Scott Gralnick, head of institutional staking at Marinade, told Cointelegraph. “The industry needs to continue to work together to forge positive regulatory outcomes.…

PreStocksFi has launched tokenized pre-IPO stocks on Jupiter, allowing traders to access and trade shares of top private companies like SpaceX, OpenAI, and Neuralink. Summary PreStocksFi launched tokenized pre-IPO stocks for trading on Jupiter, democratizing pre-IPO investing. Traders can benefit from zero slippage during the liquidity bootstrapping phase (while supplies last). Companies available for trade include top names like SpaceX, OpenAI, Neuralink, Kraken, Discord, Epic Games, and more. Tokenized pre-IPO stocks from PreStocksFi are now live and available for trading 24/7 via Solana’s #1 DEX aggregator Jupiter (JUP), bringing liquidity and transparency to a market that has historically been difficult…

On Friday afternoon, after powering up to 970 exahash per second (EH/s) the day prior, Bitcoin’s computational force cranked even further, hitting 976 EH/s—just 24 EH/s shy of the colossal 1 zettahash per second (ZH/s) threshold. Bitcoin’s Mining Might Continues to Flex The hashrate kept pushing upward and, a mere ten blocks before the network’s next difficulty adjustment, the reading reached 976 EH/s based on the seven-day simple moving average (SMA), according to hashrateindex.com metrics. Computational power metrics recorded by hashrateindex.com. The seven-day SMA metric smooths out short-term swings by averaging data over the set period, making it easier to…

Coinbase’s retail trading volumes dropped sharply in Q2, but beneath the surface, XRP continued to generate more consumer transaction revenue than Ethereum, extending a trend that began in the first quarter. According to Coinbase’s Q2 shareholder letter, XRP made up 13% of consumer transaction revenue, narrowly ahead of Ethereum at 12%. That marked a shift from Q1, when the asset’s share was lower at 10%, while XRP briefly surged to 18%. Overall transaction revenue declined 39% quarter-over-quarter to $764 million, with total net revenue falling short of analyst expectations at $1.5 billion versus a $1.59 billion consensus. “In Q1, the…

According to breaking news, the US non-farm payroll and unemployment rate data that all financial markets have been waiting for has been released. The details of the data were determined as follows: 🔹 Unemployment rate: 4.2% (expected: 4.2%) 🔹 Nonfarm payrolls: +73K (expected: +110K) 🔹 Private sector employment: +83K (expected: +100K) 🔹 Hourly earnings (Y/Y): +3.9% (expected: +3.8%) 🔹 Hourly earnings (M/A): +0.3% (expected: +0.3%) 🔹 Participation rate: 62.2% (expected: 62.3%) 🔹 Manufacturing employment: -11K (expected: -3K) 🔹 Average weekly working hours: 34.3 hours (expected: 34.2) 🔹 Broadly defined unemployment (U-6): 7.9% Bitcoin’s initial reaction to the data is as…

Roman Storm, the Tornado Cash co-founder and developer, found an interest in computer software at a young age after his parents bought him a personal computer. Now, at 36 years old, he holds a guilty verdict for operating an unlicensed money-transmitting business, issued by a jury on Wednesday. He remains in limbo as prosecutors could still retry him on two additional felony counts: conspiracy to commit money laundering and conspiracy to violate US sanctions. Storm has always been drawn to “the more technical side of things,” he said on a podcast in early July, just before his trial began in…