Author: NBTC

A Florida federal court has ordered Mosaic Exchange Ltd. and its CEO Sean Michael to pay over $1.1 million in penalties and restitution for operating a fraudulent digital asset trading scheme that targeted investors across multiple countries. The U.S. District Court for the Southern District of Florida issued final default judgments in late December, concluding a case that began with the Commodity Futures Trading Commission’s (CFTC) September 2023 complaint against the Pennsylvania-based company and its Miami-based executive. The court found Mosaic and Michael liable for violating the Commodity Exchange Act through a sophisticated deception that ran from February 2019 to…

Robinhood Crypto has announced the addition of Sonic (S) trading support in the European market. This move is part of the company’s expansion strategy. Sonic, formerly known as Fantom (FTM), is the native token of the Sonic network, which operates as a Solana-based Layer 1 EVM blockchain. Source: X Following this announcement, Sonic has secured the #55 rank on CoinMarketCap, with its price at $0.8013. This reflects a 1.01% increase in the past 24 hours. The token’s market capitalization stands at $2.3 billion. Over the last day, Sonic’s trading volume has risen by 153.72%, totaling $221.86 million. Related: Robinhood’s Main…

Metis, a layer 2 network, experienced a significant increase in network activity and transactions in Q4 2024. That is according to a new report released by Messari today. According to the report, Metis witnessed massive growth in the fourth quarter of 2024 as user activity in the network rose significantly. This positively impacted its profitability during the same period. In the wider crypto market, Metis is currently the 281th largest virtual currency in the entire crypto ecosystem based on its market valuation. However, the platform is the 20th largest L2 network on the Ethereum ecosystem. In Q4 2024, @MetisL2’s network…

The combined market capitalization of L2 coins and tokens is on an upward trend. After months of stagnant trading, L2 tokens are regaining value. L2 tokens are starting a recovery, with some of the leading tokens expanding since their September lows. L2 chains remain important in the Ethereum ecosystem and DeFi activity, but have been eclipsed by the meme token craze. Despite the shift in trader interest, L2 projects continued growing their infrastructure, turning into key features of crypto space. As usual, Arbitrum and Optimism led the recovery in market capitalization. L2 tokens exit months of sideways trading L2 tokens…

Gary Gensler’s Securities and Exchange Commission (SEC) branded Binance.US “a cauldron of fraud,” and used its power and influence to choke off the firm’s banking relationships and USD fiat ramps, despite failing to produce any evidence to back up its claims in court, the interim chief of Binance.US told CoinDesk in an interview. In June of 2023, incensed by the chicanery of crypto exchange FTX, the SEC sued Binance and Binance.US, as well as their owner Changpeng Zhao for charges that included violations of securities laws. Later, Binance agreed to a $4.3 billion settlement with U.S. authorities, and Zhao served…

Many FTX creditors face delays in receiving their funds as the cryptocurrency exchange continues with its complex Chapter 11 bankruptcy process. While progress has been made on the reorganization plan, a significant number of creditors are still waiting for their payouts. A recent update on the X platform by Sunil, an FTX creditor, sheds light on the challenges faced by creditors in specific jurisdictions. FTX Claims Distribution UpdateFTX creditors in countries including Egypt, Iran, Nigeria, Ukraine, China, Russia, Saudi Arabia are not currently eligible for distribution with the current distribution providers @bitgo @krakenfx despite FTX recognizing, creditors may have an……

Self Chain partners itself with Unmarshal AI, a decentralized network for indexing, APIs, analytics, and real-time blockchain data notifications. Through this partnership, developers in the Self Chain platform are expected to gain better support and new tools through smarter and more efficiently developed applications. 📢 Partnership Announcement 📢We are excited to welcome @UnmarshalAI to the Self Chain ecosystem!With this collaboration, developers building on Self Chain can leverage Unmarshal’s AI-powered data solutions to enhance accessibility, and create more target=”_blank”>pic.twitter.com/YmS29HEKNw — Self Chain (@selfchainxyz) January 15, 2025 Revolutionizing Data Access with Unmarshal AI Unmarshal AI is an AI decentralized network with specific…

Bitcoin (BTC) may be at risk of a catastrophic “bank run,” according to Justin Bons, founder and CIO of Cyber Capital. A bank run is when customers withdraw their deposits from a financial institution over fears of insolvency. Bitcoin Cannot Handle Mass Exits, Bons Says In a detailed social media thread, Bons highlighted critical flaws in Bitcoin’s transaction capacity, self-custody model, and network security. In his opinion, these could lead to a crisis that would destabilize the network and devastate investors. Bons’ analysis centers on Bitcoin’s limited transaction processing capability, which he calculated at approximately seven transactions per second (TPS).…

SFTs transform virtual economies, offering unparalleled flexibility for tradable and customizable in-game assets. SFTs enable fractional property ownership, enhancing liquidity and accessibility in high-value real estate investments. SFTs combat fraud and enhance transparency in event ticketing with verifiable ownership and seamless transferability. Semi-fungible tokens (SFTs) are evolving as innovative structures in the digital assets space because of their hybrid nature between fungibles and non-fungibles. Such dual-use functionality allows SFTs to toggle between the fungible and non-fungible states and thus can be applied across sectors. They are flexible cost-effective and dynamic in design and have brought about elaborate applications shortly. Gaming…

Craig Wright has seemingly taken the first steps to challenge the verdict of the Crypto Open Patent Alliance’s (COPA) contempt of court case, according to sources familiar with the proceedings. According to patent attorney David Pearce, who cites people directly involved with the case, documents filed with the court by Wright earlier this month are likely an application for permission to appeal. Pearce told Protos, “I’m aware from Wright’s very brief comments and, more reliably, from someone I know involved in the COPA v Wright case that he has submitted something to the Supreme Court. “This would have to be…