Author: NBTC

In a breaking development, Terraform Labs has been approved for bankruptcy liquidation following a US SEC settlement. Terraform Labs received court approval today to wind down its operations as part of bankruptcy proceedings following a settlement with the U.S. Securities and Exchange Commission (SEC). The SEC accused the company of defrauding cryptocurrency investors who lost an estimated $40 billion when Terraform’s TerraUSD and LUAN tokens crashed in 2022. U.S. Bankruptcy Judge Brendan Shannon approved Terraform’s bankruptcy plan during a hearing in Wilmington, Delaware, calling it a “welcome alternative” to protracted litigation over investor losses. Terraform filed for bankruptcy in January…

A new Bitcoin (BTC) price review from Peter Brandt has sparked a whole wave of reactions from the crypto community. Thus, the legendary trader, who has been operating on the financial markets since the 1970s, noticed that for more than half a year, the price of the main cryptocurrency has been consistently printing lower highs. The recent is third in line. Having reached a new price high of around $74,000 in March, Bitcoin failed to break that mark over the following months. Consecutive lower highs can be interpreted as a downtrend. Based solely on this, we can expect that Bitcoin’s…

Ethereum developers have agreed to split Pectra upgrade into two phases. Phase one of the Pectra upgrade will go live in early 2025 and feature a proposal to improve the wallet experience. Ethereum could continue to rally if open interest stays on an uptrend and ETH overcomes the $2,595 resistance. Ethereum is up 6% on Thursday following the recent decision by core developers of the Main chain to split the upcoming Pectra upgrade into two phases. Ethereum core developers agree to split Pectra upgrade into two phases In its Consensus Layer Call on Thursday, Ethereum developers decided to split the…

Tron founder Justin Sun had earlier introduced the new SunPump platform designed to facilitate the creation of meme tokens within the Tron blockchain. And in an August 17th update, he announced the addition of 1 billion energy to address energy exhaustion concerns. .@sunpumpmeme The main reason for the failed launch after maxing the bonding curve was the energy running out. We’ve added another 1 billion energy! The sorting and filtering feature will go live within two hours, by 2 PM SGT today! No lagging issues will occur! — H.E. Justin Sun 孙宇晨(hiring) (@justinsuntron) August 17, 2024 On August 16, Sun…

Stuard Alderoty, Ripple’s chief legal officer, recently took to the X social media platform to praise Rep. Ritchie Torres (D-NY) for showcasing his pro-crypto stance during a recent congressional hearing. The congressman took issue with the SEC’s usage of the controversial term “crypto asset security.” Daniel Gallagher, chief legal officer at Robinhood, has clarified that he does not know any statutes enacted by Congress that mention the term in question. “They certainly created it,” Gallagher said in response to a question about whether or not the SEC invented the term out of thin air. While commenting on this exchange, Alderoty…

Bitcoin’s price actions took a violent turn from yesterday’s quietness as the asset plunged by more than three and a half grand to $63,300. The alternative coins have followed suit, and the total value of liquidated positions has skyrocketed to almost $230 million on a daily scale. The start of the business week was quite positive for the primary cryptocurrency as the bulls drove it to its highest price tag since early June of $70,000. However, the asset had little luck there and was quickly rejected. The retracement drove it south hard, and BTC found itself slipping under $65,500. It…

Ethereum price started a fresh upward move above the $2,420 resistance. ETH traded close to $2,500 and is now consolidating gains. Ethereum started another increase from the $2,320 resistance. The price is trading above $2,400 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $2,385 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear the $2,480 resistance to continue higher in the near term. Ethereum Price Surges Over 8% Ethereum price remained well-supported and extended its increase, beating Bitcoin. ETH was able to clear the $2,350 and…

After the Fed’s announcement of a 50 basis point interest rate cut, which surprised Wall Street banks, Fed Chairman Jerome Powell held a press conference and answered questions. The majority of Wall Street banks had forecast a 25 basis point cut in the interest rate decision. Here are the most important sections from Jerome Powell’s statements: We focus entirely on our goals. The overall economy is strong and we are committed to maintaining strong economic growth. The economy is generally strong. Our decision today reflects growing confidence that labor market strength can be maintained. The labor market has begun to…

The United States government holds a substantial amount of Shiba Inu (SHIB). Shiba Inu (SHIB) has continued to gain widespread popularity, attracting the interest of retail and institutional clients. U.S. Government SHIB Holding Besides retail and institutional investors, the United States government also holds a significant amount of SHIB in its blockchain wallet. According to data from Arkham Intelligence, the U.S. government holds 54,897,000,000 (54.89 billion) SHIB tokens. Notably, the blockchain wallet affiliated with the U.S. government holds more than 100 digital assets worth $12.43 billion at the time of writing. Out of the total crypto holdings in the wallet,…

On the 31st of July, Bitcoin ETFs experienced huge inflows while Ethereum ETFs went through significant outflows. Lookonchain, a well-known on-chain analytics firm, noted that Bitcoin ETFs saw a cumulative inflow of up to $7.48M with Ethereum witnessing outflows of $51.94M worth. The analytics platform took to its official social media account to provide details of ETF flows. July 31 Update:9 #Bitcoin ETFsNetFlow: +113 $BTC(+$7.48M)🟢#iShares(Blackrock) inflows 1,138 $BTC($75.27M) and currently holds 342,659 $BTC($22.66B).#Grayscale moved 26,936 $BTC($1.78B) to Grayscale Bitcoin Mini Trust today.9 #Ethereum ETFsNetFlow: -15,691… pic.twitter.com/rUrRZMJjZt — Lookonchain (@lookonchain) July 31, 2024 BTC ETFs See Substantial Inflows While ETH ETFs…