Author: NBTC
In a recent social media post, David Schwartz, Chief Technology Officer (CTO) of Ripple, took a cheeky swipe at the U.S. Securities and Exchange Commission (SEC) over Elon Musk’s Tesla debacle. In his tweet, Schwartz poked fun at the SEC’s approach to determining securities, leveraging Musk’s recent comment about Tesla’s value surge. The Ripple CTO’s jest revolved around the notion of Tesla’s expected value increase, contrasting it with the SEC’s criteria for identifying unregistered securities. Schwartz humorously questioned why Tesla’s situation would not fall under the SEC’s scrutiny given the company’s supposed anticipation of profitability. I’d love to hear the…
Binance, the world’s largest cryptocurrency exchange, has announced that it will temporarily suspend deposits and withdrawals of Ethereum and ERC20 tokens on the ETH network. The reason for this suspension is to perform wallet maintenance for the Ethereum network, which is expected to last for about two hours. Binance will perform wallet maintenance for the Ethereum network (ETH) on March 6, 2024, at 7:00 a.m. (UTC). In this light, deposits and withdrawals on the Ethereum network (ETH) will be suspended starting on March 6, 2024, at 6:55 a.m. (UTC). #Binance will perform wallet maintenance for the Ethereum network $ETH starting…
Latin America is at the forefront of the crypto revolution, driven by unique socio-economic challenges and a robust entrepreneurial spirit. This region’s journey toward financial inclusion through digital assets explores the transformative potential of cryptocurrencies as remittance tools or inflation hedges. Optimism surrounds the crypto market in 2024, highlighting the critical role of Latin American countries in the mainstream acceptance of this technology. 1. Brazil: The Giant Awakens to Crypto’s Potential Brazil leads South America with its rapid embrace of blockchain and cryptocurrencies, ranking ninth globally in Chainalysis’ 2023 Crypto Adoption Index. The nation’s legislative advancements, including law 14,478, set…
In a moment when cryptocurrencies, stablecoins, and non-fungible tokens (NFTs) are gaining popularity, the IRS is playing catch up by implementing toughening tax regulations on crypto. To consider the intricacies and the continuing nature of the digital asset space, the IRS recently announced the appointment of two private-sector experts, Raj Mukherjee and Wilks, to its team of officials. Such a step suggests the IRS’s willingness to strengthen its compliance, enforcement, reporting, and service related to cryptocurrencies. Including Mukherjee and Wilks in the IRS’s team is a mere personnel operation and a strategic improvement of the IRS’s digital asset capability. Individuals…
Recent data from IntoTheBlock reveals that Ethereum L2 transaction volumes have skyrocketed by an impressive 91% since the beginning of the year. This surge underscores a growing trend of Ethereum users migrating toward layer-2 scaling solutions, drawn by the promise of faster and cheaper transactions compared to Ethereum’s mainnet. Surge in Ethereum L2 transaction volumes The data reveals compelling insights into the ecosystem of Ethereum’s scaling solutions. On March 1, 2023, transaction volume for Ethereum L2 transactions from both Arbitrium and Optimism totaled approximately $700 million. Fast forward to Feb. 1, 2024, and this figure surged to $2 billion, encompassing…
Web3 Wallet team from the Binance cryptocurrency exchange has completed the integration of the Blast network. According to the exchange’s announcement on March 4, Binance Web3 Wallet now supports Blast, an Ethereum Layer 2 scaling solution offering built-in yield for Ethereum (ETH) and stablecoins. As part of the integration, crypto wallet users will be able to use the Binance Web3 Wallet to transfer tokens to and from the Blast network and access various decentralized applications on the network. To view and find Blast in Binance Web3 Wallet, you need to go to the Web3 Wallet section and select the Networks.…
In a recent exchange on X forum, Bill Morgan, a pro-XRP lawyer, provided detailed insights into the ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). Moreover, he responded to concerns raised about the impact of a recent Coinbase hearing on the case. XRP Lawyer Provides Insight On Ripple Vs SEC Case Morgan took to X reassured users that the latest Coinbase vs SEC judgment would have a “neutral” affect on the Ripple lawsuit. He stated, “This was a default judgment concerning secondary market sales of several cryptos… that did not include XRP.” In addition,…
Recent statistics from blockchain analytics start-up IntoTheBlock on Ethereum, the second-largest cryptocurrency by market value, reveal a surprising reality. IntoTheBlock routinely provides Ethereum and Bitcoin network statistics toward the week’s close, as it did today. According to its tweet, $906 million ETH exited exchanges this week, marking the eighth week of net outflows for the second-largest cryptocurrency asset. According to a graphic shared, total fees for the ETH network increased by 43.56% to $108.3 million. $906M of $ETH left exchanges this week, making it the eighth consecutive week of net outflows for the second-largest crypto asset pic.twitter.com/v7VuqFUSCf — IntoTheBlock (@intotheblock)…
Cathie Wood seems to be having a bad start to 2024 considering investors have pulled close to $1.0 billion out of her flagship Ark Innovation ETF over the past two months. ARKK is significantly underperforming NASDAQ Investors are concerned because the “ARKK” continues to materially underperform the Nasdaq Composite – a fair comparison since that benchmark is also growth-oriented like Wood’s exchange-traded fund. Ark Innovation ETF is down nearly 3.0% year-to-date at writing versus Nasdaq up a whopping 9.2%. Warren Buffett vs Cathie Wood pic.twitter.com/XpJJSMCqCJ — Evan (@StockMKTNewz) February 24, 2024 Wood’s fund has a total of 37 holdings at…
Binance, one of the foremost cryptocurrency exchanges globally, has officially announced a significant transition in its margin assets on the Binance Futures platform. In a move aimed at enhancing the trading experience and aligning with market demands, Binance will be shifting its support from USDP to FDUSD. This transition signifies a strategic adjustment to better cater to the evolving needs of its user base. Effective from the 8th of March at 09:00 (UTC), Binance will commence support for FDUSD as a margin asset. This marks the initiation of the transition process. Consequently, support for USDP will cease on the 14th…