Author: NBTC

Crypto exchange Luno is reportedly cutting about 20% of its global workforce as it restructures operations and shifts more resources toward institutional clients, financial infrastructure and business-to-business services. According to a Bloomberg report on Tuesday, Luno CEO James Lanigan said the company had invested in automation and broader operational improvements that changed the resources needed to run the business. Luno will also trim costs in line with market conditions while investing in compliance, core infrastructure and retail products. Luno has previously made larger workforce reductions. In January 2023, the exchange cut 35% of its staff, affecting nearly 330 employees, as…

Microtransactions below 0.01 Bitcoin ($BTC) now account for roughly 80% of all daily transactions on the network, pushing transaction activity close to record highs despite weak price performance. The surge has pushed CryptoQuant’s Bitcoin “Network Activity Index” into positive territory for the first time since 2024, according to a Thursday report by the blockchain data company. Transactions below 0.01 $BTC represented about 44% of all daily Bitcoin transactions in 2023, but their share has nearly doubled since then, fueled largely by Ordinals, Runes and other data-inscription protocols. The report, authored by CryptoQuant head of research Julio Moreno, said sustained growth…

Wall Street is pulling the plug on technology stocks, and the implication could stretch well beyond just traditional markets. Hedge Funds have aggressively reduced exposure to the US information technology sector, recording net sell-offs in six of the last eight weeks. According to Loading profile preview prime brokerage data, this marks the largest eight-week aggregate reduction in tech exposure in at least a decade, surpassing even the pace seen during the 2022 bear market. The selling hasn’t been limited to one corner of the sector either. Software, semiconductor, and hardware companies hav eall been caught in the institutional unwind making…

Senate leaders still intend to bring the CLARITY Act to the floor before the August recess, although unresolved negotiations and a crowded calendar leave the timing uncertain. Lummis says CLARITY Act remains on the agenda Sen. Cynthia Lummis told crypto journalist Eleanor Terrett that Senate leadership is still seeking to take up the CLARITY Act before lawmakers leave Washington for their August recess. 🚨SENATOR LUMMIS: SENATE TO VOTE ON CLARITY ACT NEXT WEEK!In an interview with @EleanorTerrett on @CryptoAmerica_, @SenLummis confirmed the Senate will proceed with votes on the Clarity Act before the August recess.“Senator Thune has kept a place…

OpenSea’s chief marketing officer Adam Hollander has stepped down after roughly 18 months in the role, departing on personal terms at a moment when the $NFT marketplace is pushing deeper into new financial territory. His exit raises a quiet but pointed question: what does a leadership change mean for a platform in the middle of one of its most ambitious reinventions? Key takeaways Adam Hollander resigned as OpenSea’s CMO after approximately 18 months, citing personal priorities including health and family. He expressed “enormous confidence” in OpenSea’s products and team, and does not plan to take another job. OpenSea is planning…

The artificial intelligence sector and historic private equity listings have disrupted traditional rankings of global rankings. Bitcoin, which not long ago comfortably commanded a position within the top 6 to 8 global assets, has collapsed by 10 spots. The leading cryptocurrency by market cap is now in 17th place, CoinGecko data shows. The digital currency is now at risk of falling out of the top 20 entirely, which was unthinkable just a few months ago. Capital is now moving heavily into semiconductor, memory-chip, and aerospace giants, with Bitcoin seemingly being pushed to the back burner. The memory-chip onslaught Bitcoin has…

Spot Hyperliquid ($HYPE) exchange-traded products recorded their first weekly outflow since launching in May, according to CoinShares’ weekly Digital Asset Fund Flows report. The products shed $7.26 million in the week ending July 17, ending a run of nine consecutive weeks of inflows. The withdrawal trimmed cumulative net inflows to $301.34 million from $308.6 million. Net assets under management fell 12.7% to $306.03 million, a steeper drop than the cash outflow alone would imply, reflecting mark-to-market losses as the token’s price declined over the week. Majors Draw Inflows The week’s outflow set Hyperliquid apart from the largest digital asset funds,…

David Hoffman, co-founder of the popular decentralized finance media platform Bankless, has liquidated his entire Ethereum ($ETH) holdings. According to a report from Wu Blockchain, the transaction occurred on May 21, with the proceeds redirected into a basket of five alternative cryptocurrencies: $VVV, $NEAR, $ZEC, $HYPE, and $LIT. The move marks a significant shift for Hoffman, who has long been a prominent voice within the Ethereum ecosystem. His decision to exit $ETH entirely, rather than merely rebalancing, has drawn attention from market observers and DeFi commentators alike. Hoffman’s Previous Stance on $ETH Valuation Hoffman had previously articulated a nuanced view…

Stand With Crypto has initiated a significant grassroots campaign, urging constituents to contact their Senators in support of the CLARITY Act. With over 1 million contacts made, the organization emphasizes the need for transparent regulatory frameworks for digital assets. This broad engagement represents real voter sentiment rather than traditional lobbying efforts, aiming to influence legislative action before the Senate recess on August 7. For more details, see here. What Went Down The broader cryptocurrency landscape is witnessing a push for regulatory clarity, particularly as Stand With Crypto rallies public support for the CLARITY Act. This campaign is a response to…

Binance Alpha, the early-stage token discovery platform operated by the world’s largest cryptocurrency exchange, has announced the addition of MARS COIN to its list of featured digital assets. The listing was confirmed through the platform’s official communication channels on [Date of announcement, if known; otherwise omit]. What Is Binance Alpha? Launched as a separate initiative from the main Binance exchange, Binance Alpha serves as a curated marketplace for emerging cryptocurrency projects. It is designed to give users early exposure to tokens that may later be considered for a full Binance listing. The platform operates with a focus on transparency and…