Author: NBTC
WazirX has set aside millions of dollars to cover legal costs related to the theft of hundreds of millions of dollars in crypto after a cyberattack in July brought the Indian exchange to its knees. On Wednesday, Singapore-based Zettai Pte Ltd, the holding company of WazirX, filed an affidavit with the High Court of Singapore, requesting a 30-day moratorium to facilitate discussions with investors and creditors to stabilize the platform. The moratorium, if granted, is seen as essential for ensuring the platform’s continuity and preventing further legal disruptions. WazirX and Zettai did not immediately return requests for comment. WazirX has…
Bitcoin (BTC) is currently consolidating above the $60,000 mark, but there is overall market uncertainty regarding its future direction. In this regard, crypto analyst The Moon, based on technical indicators, painted both a bearish and bullish picture for Bitcoin in an X post on August 14. The analyst noted that Bitcoin is trading within a large symmetrical triangle pattern on the one-hour chart. This common chart formation typically precedes a breakout, with the price moving sharply toward the breakout. Bitcoin has been trading within converging trendlines, indicating a potential upward or downward move. The Moon’s analysis highlighted two critical price…
The Fed is preparing to lower interest rates in a move that could have significant impacts on the cryptocurrency market. Speaking at the Kansas City Fed’s Jackson Hole Economic Symposium in Wyoming, Fed Chairman Jerome Powell strongly hinted that rate cuts were on the horizon. “It is time for policy to adapt,” Powell said Friday, adding that the timing and scale of rate cuts will be determined by incoming economic data and the evolving outlook. “The direction of the path is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook and the…
The first week of July marked a significant moment in the cryptocurrency space, particularly for investors and market analysts closely monitoring the effects of major token unlocks. Gate.io, a leading cryptocurrency exchange, has provided detailed insights into several high-profile token unlocks that will occurr from July 1st to July 7th, influencing market dynamics and investor strategies. Token unlocks are events where previously locked tokens are released into circulation, allowing holders to sell or transfer their assets as they see fit. These events can lead to increased volatility in token prices due to potential selling pressure or, conversely, increased liquidity and…
Hamster Kombat, the popular Telegram clicker game, will be listed on crypto exchange OKX next month, aligning with the token’s airdrop date. According to an announcement on Aug. 30, OKX will list HMSTR on its spot trading market on Sep. 26, the day the project is slated to initiate its token generation event. Subsequent announcements are expected to disclose more details regarding what trading pairs will be available. OKX ranks as the fourth largest cryptocurrency exchange by 24-hour volume, according to CoinGecko, making it a key platform for the highly anticipated HMSTR listing. The exchange will also organize several campaigns…
The ETC Group Physical Bitcoin (BTCE), a German investment fund, has been steadily reducing its Bitcoin holdings, according to recent reports from CryptoQuant. This trend has been observed since the launch of the Bitcoin Exchange-Traded Fund (ETF). It has drawn considerable attention from the crypto community. Historically, the exchange rate of the BTCE has closely mirrored the Bitcoin price movement and has been a predictor of such movements. Recent Trends and Changes in Fund Behavior“The historical correlation between BTCE and the Bitcoin price has shown a consistent pattern, where changes in the fund’s reserves generally precede movements in $BTC price.”…
Money market fund assets have reached an all-time high of $6.24 trillion, driven by high interest rates offering 5%-5.5% yields. The Federal Reserve is expected to start cutting rates next month, with at least five rate cuts anticipated by March 2025. Trillions in money market funds may flow into stocks and crypto, potentially driving prices to new highs as yields decrease. Money market fund assets have risen to a record $6.24 trillion. This growth marks a new all-time high, fueled by current economic conditions and market optimism. 𝗢𝗡𝗘 𝗠𝗔𝗦𝗦𝗜𝗩𝗘 𝗟𝗜𝗤𝗨𝗜𝗗𝗜𝗧𝗬 𝗜𝗡𝗝𝗘𝗖𝗧𝗜𝗢𝗡 𝗡𝗢 𝗢𝗡𝗘 𝗜𝗦 𝗧𝗔𝗟𝗞𝗜𝗡𝗚 𝗔𝗕𝗢𝗨𝗧 🚨 MONEY MARKET FUND…
Ripple retains 1.3 billion XRP in its spendable wallets after unlocking 1 billion tokens from escrow for July, sparking speculation of a settlement in the SEC case. Whale Alert, a crypto tracking resource, spotlighted the latest development, which occurred across multiple transactions within two hours yesterday. The first batch involved seven fund movements, with which Ripple transferred 1.1 billion XRP to three different wallets and locked up 800 million XRP in escrow. Details of the Ripple Transactions Notably, in the first batch, Ripple moved 200 million XRP to “rBg…91m,” and then transferred 300 million XRP to “rDd…eCK” yesterday. The firm…
Keyboard Cat creator Charlie Schmidt recently united two meme coins under the same banner: a licensing agreement for leveraging the likeness of his famous musical cat. The artist posted a 54-second clip of his cat Fatso playing the piano online 17 years ago. Since then, the video has become enshrined in internet culture, netting 77 million YouTube views and inspiring meme coins on Solana and Coinbase’s Ethereum layer-2 network Base. There used to be a sense of confrontation between the two communities, but the claws are no longer out, according to Schmidt’s official “meme manager” Ben Lashes. A former professional…
Binance has announced the addition of Self Chain (SLF) to its various services, giving users more ways to interact with the token. SLF is now available on Binance Simple Earn, “Buy Crypto”, and Binance Convert. Binance will also integrate SLF into its Margin and Auto Trading services in the coming days. Users can now subscribe to SLF Flexible Products via Binance Simple Earn and have the opportunity to earn rewards with their SLF assets. SLF will also be available for purchase via Binance Auto-Invest starting September 2, 2024 at 1:00 PM UTC, allowing users to automate their investments in SLF…