Author: NBTC
In a hearing on Capitol Hill, lawmakers considered whether or not the Securities and Exchange Commission needs reform. Representative French Hill, R-AR, brought up the SEC’s recent court loss in its case against Debt Box. The case, in which the defendants claimed that the SEC lied to freeze company assets, was a loss for the regulatory agency after the Utah-based judge sanctioned the agency. “Just in the last few days, a Utah judge imposed sanctions on the SEC for ‘bad faith conduct’ and ‘gross abuse of power’ that the Commission had demonstrated in a case against Debt box. And this…
Fuel Labs, the creators behind the pioneering optimistic rollup Fuel v1, have joined forces with Graviton, a prominent Web3 accelerator in India, to propel the growth of the second volume of Web3 startups. This collaboration follows a two-month nationwide scouting initiative across major cities like New Delhi, Pune, Chennai, Hyderabad, Kochi, and Bangalore.—Newly selected teams, including Ultimate Digits, Evolv Art, Quantlytica, Nexity Network, Allocate Back, GameLand, and Stake-n-Bake, have risen to prominence, demonstrating their potential to become the next wave of successful Graviton-backed startups.The previous cohort of Graviton-backed startups showcased remarkable results, spanning Web3 infrastructure tools, DeFi solutions, payments &…
While there has been no shortage of excitement when it comes to Bitcoin (BTC) ever since the beginning of the final quarter of 2023, the 7 days of trading that started on February 26 have, in many ways, been particularly eventful. After holding close to the $51,000 level for multiple weeks, the world’s foremost cryptocurrency suddenly took to the skies and rose more than $10,000 in but a few days to find itself only $4,000 below its all-time high price by Monday, March 4. The sudden and strong rise bolstered the already significant optimism present in the crypto market but…
The Swiss National Bank (SNB) announced a twenty-five basis point cut to its benchmark interest rate on Thursday, bucking a global trend among other central banks committed to keeping rates elevated. Should others follow, it could be a promising sign for crypto markets—which have historically ebbed and flowed in line with global macroeconomic policy. “For some months now, inflation has been back below 2% and thus in the range the SNB equates with price stability,” explained the central bank regarding its decision. In February, the nation’s inflation rate fell to just 1.2%, with the central bank now forecasting an average…
After it was revealed that the SEC was conducting a campaign to classify Ethereum as a security and an investigation was launched against the Ethereum Foundation, Cardano founder Charles Hoskinson, one of the founders of Ethereum, shared his views on the situation. Hoskinson made his statements following requests from the XRP and Bitcoin community, according to his own statement. Instead, at the center of the investigation, according to the Cardano founder, is the proposition that Ethereum’s transition from the Proof of Work (PoW) consensus mechanism to the Proof of Stake (PoS) consensus mechanism in 2022 actually creates a new cryptocurrency…
In a landmark development, Stake DAO has unveiled its collaboration with Chainlink, integrating the Chainlink Cross-Chain Interoperability Protocol (CCIP) to facilitate seamless cross-chain transfers of the Stake DAO Token (SDT). This integration marks a significant milestone, extending across key blockchains such as Arbitrum, BNB Chain, and Ethereum mainnets. By leveraging CCIP’s Simplified Token Transfer capabilities, Stake DAO is setting a new standard in interoperability, ensuring secure and efficient transactions within its ecosystem. Enhancing Security and Accessibility with CCIP Stake DAO’s choice of CCIP underscores a commitment to unparalleled security and reliability in cross-chain operations. Chainlink’s stellar reputation for maintaining robust…
Bitcoin’s (BTC) price has just reclaimed the $65,000 price mark amid the ongoing rally over the past few weeks. Amid the 5.4% surge in price over the past 24 hours, Bitcoin’s price and market capitalization are now pegged at $65,516.87 and $1,277,114,159,326, respectively. Bitcoin growth triggers Bitcoin’s current rally might be easily attributed to FOMO – fear of missing out – among institutional investors, but it is notably catalyzed by the spot BTC ETF. With the SEC greenlighting this product in January, more than 300,000 BTC have been acquired by all participants thus far. The embrace of this spot Bitcoin…
Paradigm leads a $55 million round for zero-knowledge proofs startup Succinct. The funding was for the platform’s Seed and Series A rounds. It attracted venture firms Robot Ventures and Bankless Ventures and angels Sreeram Kannan and Sandeep Nailwal from Eigenlayer and Polygon respectively. Succinct, a crypto startup that wants to make zero-knowledge (ZK) proofs accessible to any developer, has secured $55 million funding from top venture investment firms. According to a blog announcement the startup published on Thursday, tech investment firm Paradigm led the financing across Succinct’s Seed and Series A round. The financing attracted participation from among others, Robot…
South Korean “tax dodgers” have been dealt another blow, with tax authorities in the city of Hwaseong confiscating cryptoassets worth over $768,500. Tax officers said they had seized a whopping $567,000 of the total from one single individual. The move is part of a continued nationwide crackdown. South Korean Tax Dodgers in Crosshairs in Hwaseong Crypto trading profits are not yet subject to taxation in South Korea, where successive governments have u-turned on and delayed plans to introduce levies. However, tax officials think that many people throughout the country have used crypto to conceal their earnings and income. Tax officers…
One of the biggest rollup networks on Ethereum is finally gearing up its systems for prime time. Optimism, a “layer-2” blockchain, bundles up user transactions and settles them on Ethereum for cheap. It has played a lead role in expanding accessibility to the second-largest blockchain ecosystem by market capitalization – and serves as the template for the publicly traded crypto exchange Coinbase’s own layer-2 network, Base. But there’s a catch to using Optimism today: Fault proofs, a component of the setup considered crucial for security, don’t even exist. That’s soon set to change. On Tuesday, OP Labs, the main development…