Author: NBTC
During Consensus 2024, Ripple’s Chief Technology Officer David Schwartz discussed the untapped potential of DeFi on the XRP Ledger (XRPL) for institutional use. Schwartz pointed out the current limitations faced by Bitcoin ETF holders when seeking loans, with brokers valuing these assets at zero due to volatility concerns. “You know how much brokers value bitcoin ETF holdings for collateral on loans? Zero,” Schwartz stated. Schwartz explained that brokers, such as Charles Schwab, are hesitant to accept Bitcoin ETFs as collateral due to the potential volatility and risk associated with these assets. “Imagine you’re a broker and you have a lot…
JPMorgan predicts that trading of the recently approved spot Ethereum ETFs will begin much earlier than November. The company views the approval of these ETFs and the overall cryptocurrency market as increasingly political issues, especially ahead of the 2024 US presidential election. “We expect trading of the Spot ETH ETF to begin before November,” a team of JPMorgan analysts led by Kenneth Worthington said in a report published today. On Thursday, the U.S. Securities and Exchange Commission (SEC) approved forms 19b-4 of eight spot Ethereum ETF applications. These include Grayscale, Bitwise, BlackRock, VanEck, Ark 21Shares, Invesco, Fidelity and Franklin. All…
With the continuous growth and evolution of the cryptocurrency industry, it has proven to be a profitable environment to be a part of, as one crypto trader recently witnessed, turning a mere $800 investment into a mind-blowing $657,000 in just a few hours. Specifically, this particular investor sold 5.14 Solana (SOL) tokens worth $861, with which they purchased 86.55 million of Mother Iggy (MOTHER) or 8.66% of its total supply, then sold 80.41 million MOTHER for 3,035.5 SOL ($509,000), according to the observations by Lookonchain in an X post on May 29. Furthermore, the blockchain analyst pointed out that the…
Popular meme cryptocurrency Shiba Inu (SHB) has managed to top this week’s rankings published by prominent brokerage platform Robinhood. The prominent meme coin is up 11% over the past week, significantly outperforming other major coins that are available on the platform. Litecoin (LTC) comes in second place with an 8% price spike. Chainlink (LINK) is also in the top 3 after adding 6.1%. Aave (AAVE) and Ethereum Classic (ETC) have made it to the top 5 after adding 4.8% and 3.5% over the past week, respectively. cardTezos (XTZ), Uniswap (UNI), Ethereum (ETH), Stellar (XLM), and Compound (COMP) have also appeared…
David Kagel has pled guilty to conspiring to operate a crypto Ponzi scheme that defrauded victims of more than $9.5 million. Disbarred 85-year old former attorney Kagel confessed to participating in a fraudulent crypto Ponzi scheme in which he and his partners misled investors with promises of high profits and the use of AI trading bots. According to a press release from the Office of Public Affairs, Kagel and his partners falsely claimed that Kagel, acting as the promoter’s attorney, held $11 million in Bitcoin (BTC) in escrow to secure investments. “David Kagel abused his position as an attorney to…
Com2uS Group, a prominent South Korean game publisher, has officially entered the Oasys crypto gaming ecosystem by launching its own layer-2 chain called XPLA Verse, along with a pair of prominent titles in major franchises. XPLA Verse is now the home of Summoners War: Chronicles, an action role-playing game spun off from the popular game Summoners War: Sky Arena, which has over 220 million downloads. It also now hosts The Walking Dead: All-Stars, based on the zombie comic book series. Com2uS, which is well known for its mobile gaming presence in South Korea, has been accelerating its Web3 strategy and…
Bitcoin is now hovering around the $70,000 threshold after a notable recovery it witnessed a few days ago. Due to the recent momentum, crypto enthusiasts are becoming less pessimistic about the digital asset’s growth prior to the halving event. With the fast approaching much-anticipated Bitcoin Halving, Rekt Capital, a well-recognized cryptocurrency analyst and aficionado, has offered his market insights mapping out three distinct stages of the event for investors. 3 Distinct Aspects Of The Bitcoin Halving Rekt Capital’s analysis delves into Bitcoin‘s movement before and after the halving takes place, which is expected to happen this month. In the seven…
Ethereum (ETH) investors withdrew 56,089 from crypto exchanges in the last 24 hours, according to on-chain analysis platform Nansen. Moreover, the amount of ETH held in centralized exchanges hit the lowest level in the last three months, totaling 20,288,992 ETH. ETH flows in centralized exchanges in the last three months. Image: Nansen Crypto outflows from centralized exchanges are seen as a bullish indicator, as the movement suggests investors are expecting price growth with no intention of selling it in the short term. Despite the spot Ethereum exchange-traded funds (ETFs) approval in the US yesterday, the ETH price didn’t react accordingly,…
API3, a service that provides DeFi data feeds to blockchain-based smart contracts without relying on a third party, has raised $4 million in a funding round led by DWF Labs. Market maker and multi-stage Web3 investment firm DWF Labs led the funding round and contributed $2 million. Other funding came from Spartan Group which contributed $1 million. Laser Digital, a digital asset business backed by Nomura, and Caladan formerly known as AlphaLab both contributed $500,000 each. The funding raised will be used to provide API3 with liquidity to help execute its ongoing growth strategy. API3 will use the funding for…
Apple is reportedly in talks again with OpenAI, one of the leading artificial intelligence startups, about integrating its technology into new features of the iPhone. These features are expected to be part of the next iPhone operating system, iOS 18, which will be released later this year. OpenAI CEO Sam Altman has an altcoin project called Worldcoin (WLD). Talks between the two tech giants have centered around the terms of a potential deal and the details of how OpenAI’s features will be included in iOS 18. Sources, who requested anonymity due to the private nature of the talks, stated that…