Author: NBTC

As the trial of Avraham Eisenberg gets underway in the US, the legal credibility of decentralized finance (DeFi) as an autonomous financial system is at stake. Eisenberg is accused of fraud after extracting around $112 million from the Mango Markets protocol in 2022. The implications of the case are very different from the trial of Sam Bankman-Fried, which didn’t set any new precedents; fraud and money laundering are always illegal. Yesterday, during opening statements, Eisenberg’s lawyer argued that Mango Markets worked as designed and that Eisenberg simply “executed a winning trading strategy.” This argument is often made in the wake…

According to a recent post shared by Colin Wu, a Chinese crypto journalist, the Jito tip revenue on Solana reached 9.32k SOL on March 6. The revenue amount valued at $1.2 million has reportedly marked a new high. In his Wu Blockchain page on X, Wu illuminated Jito’s fake tip vulnerability, which led to the MEV Bot using fake tips. Jito tip revenue on solana revenue reached 9.32k SOL (valued at $1.2m) on March 6, setting a new high. However, the recent Solana MEV Bot problem has been serious. Jito has a fake tip vulnerability, which resulted in the MEV…

In a recent post on the X social media network, Paul Grewal, chief legal officer at Coinbase, has urged Congress to pass stablecoin legislation if the US wants to be serious about a negligible percentage of illicit finance that is conducted with the help of cryptocurrencies. Grewal’s comment came in response to the testimony published by Wally Adeyemo, the US deputy secretary of the Treasury, that focuses on countering illegal use cases of crypto. In his testimony, Adeyemo has noted that bad actors have increasingly started using cryptocurrencies as a tool for hiding their identities. In such a way, it…

Chainlink, a leading blockchain platform, has announced the launch of the Chainlink Block Magic Hackathon: “Become an Onchain Wizard”. Aimed at first-time developers venturing into blockchain development, this hackathon offers a unique opportunity to immerse oneself in the world of coding for blockchain applications. Unlocking Opportunities for Aspiring Developers The Chainlink Block Magic Hackathon presents a plethora of opportunities for participants. Firstly, winners of the hackathon stand a chance to join the exclusive Chainlink BUILD program, gaining access to invaluable startup support and mentorship. Additionally, standout projects have the potential to be promoted across Chainlink’s extensive network, providing exposure to…

As Bitcoin’s correction continues, investors are wondering if BTC has bottomed out and when it will rise again. At this point, Bernstein analysts, evaluating the correction in BTC, said that this decline was a buying opportunity. According to The Block, Bernstein analysts said that the more than 10% price correction in Bitcoin presented a temporary “dip buying opportunity.” Saying that every decline is an opportunity, analysts said that the rise in Bitcoin will continue, but there will be more consolidation before the halving in April. Bernstein analysts Gautam Chhugani and Mahika Sapra stated that BTC will continue its bull rally…

Key Takeaways Ether.fi and EigenLayer enable ETH holders to maximize their staking returns by combining restaking and DeFi yield opportunities. Because these protocols are new, they are higher risk. Investors can start exploring Ether.fi and EigenLayer with modest deposits (never stake more than you are willing to lose). Think of Ethereum like a high-interest savings account, with a twist. By depositing your Ether (ETH), it gets locked up for a certain period (similar to a money market or CD). This locking, or “staking,” helps secure the Ethereum network. In return for staking your ETH, you earn staking rewards (similar to…

The Shiba Inu ecosystem team has initiated another hefty burn, incinerating over 13,400,000,000 (13.4 billion) SHIB tokens, 19,561 (19.5K) BONE, and 28.75 LEASH tokens in four transactions. Members of the SHIB community were stunned in the early hours of today after the Shiba Inu ecosystem team incinerated huge amounts of its ecosystem tokens. 13.4B SHIB Burned In a startling development, the Shiba Inu ecosystem team incinerated over 13.4 billion SHIB tokens worth $485,000 at the time of writing this line. The tokens were burned in two transactions, each consisting of 9.64 billion and 3.81 billion SHIB tokens, respectively. Interestingly, the…

Countries around the world must ensure consistency in their approaches to regulating stablecoins, a new report by the Financial Stability Institute says. Differing approaches could pose challenges to an integrated financial system, the FSI added in its report. Countries need to make their regulatory frameworks for stablecoins consistent with one another, the Financial Stability Institute (FSI) warned in a report published Tuesday. The FSI, jointly created by the Bank for International Settlements and the Basel Committee on Banking Supervision, is tasked with assisting regulators worldwide in strengthening their financial systems. The institute’s report on policy implementation insights for stablecoins –…

The cross-border payment industry is expected to reach $250 trillion by 2027 as Ripple, Stellar, Swift, etc race for dominance. It is reported that this industry grew by $25 trillion to reach $150 trillion between 2018 to 2022. The battle for supremacy in the cross-border payment industry hits a new level as Stellar, Ripple, Cardano, Hedera, Swift and FedNow double down efforts with innovations. According to a report, the industry grew by $25 trillion to reach over $150 trillion between 2018 to 2022. This is almost the entire size of the global technology industry in 2023. As disclosed in a…

At a high-profile AI event in London, Meta executives on Tuesday provided the first official confirmation and details about the imminent release of Llama 3, the highly-anticipated next iteration of the company’s open-source large language model. “Within the next month, actually less, hopefully in a very short period of time, we hope to start rolling out our new suite of next-generation foundation models, Llama 3,” Nick Clegg, Meta’s president of global affairs, announced at Meta AI Day London, reported TechCrunch. Clegg said Llama 3 consists of “a number of different models with different capabilities, different versatilities” that will begin rolling…