Author: NBTC

US stock markets led by Nasdaq tumbled on Thursday after Microsoft and Meta earnings ignited investor concerns about the sector prospects amid rising AI costs. The Nasdaq Composite, which is dominated by tech stocks, saw 2.3% of its value wiped out while the Standard and Poor 500 (S&P 500) sank 1.4%. The Dow Jones Industrial Average was heading for a month-end close in the red, as it saw losses of about 0.5% due to its major stocks realizing losses. Microsoft and Meta weighed US stock markets Microsoft and Meta quarterly reports saw the interest and prospects in the Big Tech…

According to Phoenix Group, over 68,000 traders have been liquidated on cryptocurrency markets in the last 24 hours. The total value of liquidations reached staggering amounts, with Bitcoin (BTC) and Ethereum (ETH) as the most impacted assets. BTC comprised the highest value in liquidation with about $55.33 million or 794.66 BTC, followed by ETH with $30.82 million or 12.31K ETH. Such liquidation growth is due to high leverage and volatility in the crypto markets. LIQUIDATION DATA IN 24 HOURS TOTAL LIQUIDATIONS: UP TO $199.43M TOP 5 COINS WITH HIGHEST LIQUIDATION: $BTC ~ $55.33M $ETH ~… pic.twitter.com/7DiZbCC8B9 — PHOENIX – Crypto…

Funding for a new batch of VC projects expanded in October, after a slowdown in the preceding month. A new series of high-profile rounds showed crypto building did not stall. VC-backed projects expanded in October, attracting $2B in the past 30 days. October proved successful after a slowdown in the past month. The period was marked with new deals from Animoca Brands and multiple Tier 1 funds. For the month of October, funding rose by 263%, spreading the sum to 107 deals. Fundraising revived in October, breaking above $2B for the first time since September 2022. | Source: Cryptorank The…

Blockchain explorer Whale Alert flagged a USDT mint worth $1 billion on the Ethereum network on September 16th at the Tether Treasury. Tether’s CEO Paolo Ardoino clarified that the mint was an authorized transaction, and the minted tokens have not been issued. The executive noted that the minted USDT will be used to replenish inventory. Tether, the world’s largest stablecoin by market capitalization, minted 1 billion USDT tokens on the Ethereum blockchain at Tether Treasuries. Popular blockchain explorer and analytics entity Whale Alert flagged the transaction on 16th September via an X post. Tether’s CEO responds to the mint Tether’s…

A federal jury convicted a man for orchestrating an NFT rug pull scheme, pocketing nearly $400,000 through abandoned projects and cryptocurrency laundering schemes. The NFT Rug Pull That Went Too Far — Federal Jury Brings Verdict The U.S. Department of Justice (DOJ) announced Thursday that a federal jury in Tampa, Florida, found Berman Jerry Nowlin, Jr., also known as “Repulse” and “Zayous,” guilty of conspiracy to commit wire fraud and money laundering through a cryptocurrency scheme involving non-fungible tokens (NFTs). Nowlin, 21, and his codefendant, Devin Alan Rhoden, known as “Denny” and “Deviinz,” created NFT collections on the Solana blockchain…

Economist Alex Krüger is revealing his scenarios for Bitcoin (BTC) during election night in the US, saying that a fast move could be coming for crypto markets. The trader tells his 185,000 followers on the social media platform X that in the event of a Trump victory on election night, Bitcoin could “shoot straight up” immediately after. If Kamala Harris comes out on top, Krüger says that Bitcoin will likely correct, but only temporarily before a move upward. “Simple elections framework for Bitcoin Trump win: BTC $90,000 by year-end, probability 55%. Harris win: BTC $65,000 by year-end, probability 45%. Weighted…

You will attract the highest tax globally for your cryptocurrency earnings in Denmark. That’s according to a recently released study that shed light on the global crypto tax landscape. The research, a collaboration of crypto research firms Coincub and Blockpit, showed that Denmark-based crypto investors pay up to 53% in capital gains tax (CGT). This tax rate keeps with the country’s high taxation levels. An excerpt of the report explains: “The Danish Tax Agency treats cryptocurrency gains as personal income, subjecting them to the same progressive tax rates as other forms of income. This high taxation level is consistent with…

Stablecoin issuer Circle has announced a partnership with Sony Block Solutions Labs to integrate USDC as the primary transaction token on the Soneium blockchain. The initiative aims to advance the adoption of decentralized technologies and improve the global digital economy. According to a recent press release, the collaboration opens up opportunities for digital rights management, increasing fan engagement through NFTs, and providing tokenized access to content. The partnership will allow Soneium, a blockchain developed by Sony Block Solutions Labs, to integrate Bridge USDC as a central token for value exchange. Bridge USDC is a version of USD Coin (USDC) that…

WASHINGTON, Oct 31 (Reuters) – The founder of cryptocurrency market maker Gotbit was indicted for his alleged role in a wide-ranging conspiracy to manipulate cryptocurrency markets on behalf of client cryptocurrency companies, the U.S. Justice Department said on Thursday. Aleksei Andriunin, 26, was charged with wire fraud and conspiracy to commit market manipulation and wire fraud in a superseding indictment, the Justice Department said in a statement. The U.S. Justice Department says that between 2018 and 2024, when Andriunin was the firm’s CEO, Gotbit provided market manipulation services to create artificial trading volume for multiple cryptocurrency companies, including companies located…

Jim Bianco of Bianco Research has poured cold water on the success of Bitcoin exchange-traded funds, arguing that the massive concentration of the largest cryptocurrency in traditional finance is not “something to be celebrated.” In fact, according to Bianco, this should be treated as a major red flag. According to the analyst, the price of Bitcoin should have hit the $100,000 level months ago based on all the bullish catalysts such as massive ETF inflows and the Federal Reserve rate cut that took place in September. However, this wasn’t the case. The price of Bitcoin failed to log a new…