Author: NBTC

San Francisco – The Graph Network, a leading decentralized data platform, has achieved a monumental milestone, clocking 1.95 billion monthly queries in July 2024, reflecting an 11x growth year-over-year. Alongside this remarkable increase in usage, the number of subgraphs—essentially indexes of blockchain data—has surged to over 9,000, a 361% rise since Q1 2024.—This rapid growth follows The Graph’s bold transition from its hosted service to a fully decentralized network, a crucial shift spearheaded by Tegan Kline, CEO of Edge & Node. Known as the “Sunrise of Decentralized Data” initiative, this move toward decentralization launched in October 2023 and was solidified…

Former FTX executive Nishad Singh has received a letter of support from FTX bankruptcy CEO John J. Ray III ahead of his sentencing for his part in the collapsed exchange’s theft of $8 billion in customer funds. That’s according to Inner City Press and Matthew Russell Lee who shared the letter last night. The letter, addressed to Judge Lewis Kaplan, highlights Singh’s cooperation with debtors, from returning Bahamian real estate that was purchased with debtors’ funds to providing documents and answering questions while under investigation. According to the letter, a final settlement between Singh and debtors is in the works.…

Lars Holst’s GCEX announced today (Wednesday) its partnership with Switzerland-based spot crypto exchange RULEMATCH, which enhances ultra-low latency trading and integrated post-trade clearing and settlement with netting, offering crypto trading access for its institutional clients. Bringing Crypto Trading to Institutions The partnership is strategic, as it enables GCEX’s client base, including hedge funds, algorithmic trading firms, brokers, and ETF/ETP providers, to benefit from binding quotes in an anonymous Central-Limit Order Book (CLOB) with execution times of 25 microseconds, the announcement highlighted. Lars Holst, CEO & Founder, GCEX “We are continually looking to push boundaries and expand our offering,” said Holst,…

According to data provided by Polymarket, the odds of a 50 basis rate cut have surged to as high as 40%. For comparison, the odds were just 20% two days ago. Short-term interest rate futures also show that a 50-basis point cut is now more likely than a 25-basis point one. The futures spiked after the release of the July JOLTS report, which showed that the job opening rate fell to 4.7%. Meanwhile, the layoff rate ticked up to 1.2%. “Today’s data suggests the labor market’s cooling pace wasn’t as dramatic as the July jobs report suggested. But here’s the…

The Ethereum-based cryptocurrency lending protocol Aave is witnessing a rapid increase in Coinbase Wrapped Bitcoin (cbBTC) flows into its platform due to a new incentives program involving the asset. While this reflects growing liquidity and rising adoption of the wrapped Bitcoin product on Aave, the market analytics platform IntoTheBlock says it poses a risk to users. According to an IntoTheBlock tweet, users may be temporarily unable to repay their loans on Aave if the situation goes sideways. cbBTC Increases $200M Weekly on Aave Earlier this year, Aave launched Merit, a system designed to reward users participating in activities on the…

Popular trading platform Robinhood Markets (NASDAQ: HOOD) announced its entry into presidential election trading on Monday, October 28, 2024, allowing U.S. citizens to trade contracts tied to either Kamala Harris or Donald Trump through its Robinhood Derivatives unit and ForecastEx, operated by Interactive Brokers. The move comes just eight days before the presidential election and marks a significant expansion of prediction market trading following a recent favorable ruling for competitor Kalshi against the Commodity Futures Trading Commission (CFTC). Robinhood Opens US Election Trading The launch positions Robinhood alongside established players in the growing prediction markets space, including Kalshi, Interactive Brokers…

The Shiba Inu ecosystem team continues to support the community with significant charitable contributions. Per the content marketer, Lucie, the Shiba Inu team visited and made a notable donation to the Seungil Hope Foundation in Seoul, Korea, as part of the ongoing “Treat Yourself” tour. This foundation, which is the first specialized ALS hospital in Korea, was the recipient of the donation, reflecting the ecosystem’s longstanding commitment to helping those in need. Shib has always been about supporting the small people, and charity has been a significant part of our history and future. It’s exciting to see this commitment being…

In a recent press release, the Danish Ministry of Taxation announced that it is set to implement a change in its approach to cryptocurrency taxation. Under the proposed regulation, the Danish government plans to levy a 42% tax on unrealized gains for Bitcoin and other digital assets. The policy, which targets individual investors, represents one of the highest cryptocurrency tax rates globally and signifies Denmark’s intensified efforts to regulate and tax the rapidly growing cryptocurrency industry worldwide, which has seen extensive growth across Europe. Unrealized Gains Tax for Cryptocurrency Investments Denmark’s proposed tax would apply specifically to unrealized profits in…

Taiwan’s financial regulator is reportedly set to enforce a registration system for crypto exchanges in late November, signaling heightened scrutiny in the sector. Taiwan‘s Financial Supervisory Commission is poised to implement a registration system for crypto exchanges on Nov. 30, ahead of schedule, marking a big step in regulatory oversight of the burgeoning crypto sector, per a report from Taiwanese news outlet Anue Juheng. During a recent inquiry with the Legislative Yuan’s Finance Committee, FSC chairman Peng Chin-long disclosed that 26 exchanges have already obtained compliance declarations under anti-money laundering laws, with another 20 to 30 applications currently in process.…

Bitcoin, ETH, SOL and other cryptocurrencies modestly reversed their losses from earlier in the day. The Crypto Fear & Greed Index sentiment indicator sank to deep fear levels similar to the lows in early July and August. Investor sentiment is so negative that a “tradable local bottom” could be close, Lekker Capital’s Thompson said. Continuing downward price action in crypto may be about to reverse in a big way, at least in the short term based on the readings of one popular sentiment indicator. Bitcoin (BTC) during Wednesday U.S. trade recovered to around $58,000 from an earlier low of $55,600,…