Author: NBTC

Sorare, a blockchain-based fantasy sports company, was charged with providing unlicensed gambling facilities. The charges, the first brought against a blockchain platform, may signal a precedent for how the Gambling Commission plans to deal with Web3 companies in the future. Sorare, a fantasy sports company, was charged with providing unlicensed gambling facilities in the U.K. in the Gambling Commission’s first action against a blockchain-based platform. The company, based in Saint-Mande, France, operates fantasy soccer, basketball and baseball games that allow participants to buy and sell collectible cards using non-fungible tokens (NFTs). It has inked deals with the English Premier League…

Despite a price surge, Ethereum continues to see a drop in wallet addresses. According to TheBlock’s data, new ETH addresses have dropped by over 44% in the last three months. As of June 27, 2024, the number of new addresses on the network peaked at 138.62k. However, three months later, the number has dropped to 78.39k. New Ethereum addresses plummet to less than 80k On June 1, 2024, there were only about 100,680 new Ethereum addresses on the network before the figure rose by over 37.7% to 138,620 new addresses on June 27. Source: Theblock Since then, the Ethereum network…

In a recent tweet, Ripple CTO David Schwartz provided insights into the clawback feature of XRP Ledger (XRPL). This feature has remained a subject of discussion within the XRP community, and Schwartz’s recent insight has helped clarify its importance and functionality. According to Schwartz, the primary purpose of the clawback feature is to address situations where the ledger is incorrect. He added that if a digital asset represents a legal obligation, and the token indicates that the obligation exists when the legal system says it does not, then the ledger is fundamentally wrong. Responding to a discussion on X as…

The judge in the Tornado Cash case delivered an oral ruling today, rejecting both the Defense’s motion to compel discovery and their motion to dismiss the charges. This represents a massive setback for the Defense, and the judge’s reasoning may not bode well for developers and projects going forward. Motion to Compel The Defense’s motion to compel discovery sought to access a broad range of government communications, including exchanges with foreign authorities under the Mutual Legal Assistance Treaty (MLAT) and with domestic agencies like the Office of Foreign Assets Control (OFAC) and the Financial Crimes Enforcement Network (FinCEN). Citing Federal…

Bitcoin (BTC) is still in an over six-month downtrend, displaying a shorter-term side action in what the market calls consolidation. Bulls and bears are fiercely disputing the narrative, while the price illustrates analysts’ disagreement on the leading cryptocurrency’s next move. Interestingly, bear traders momentarily dominate Bitcoin’s open interest in the derivatives market, with short-sellers increasing their positions over long traders. In particular, the long/short ratio shows that 57.77% of Binance’s open positions were shorting BTC on September 27. This data is from Ali Martinez, gathered at 6 a.m. UTC, and also displays a surge favoring the bears. If this trend…

Ethereum, the second-largest cryptocurrency by market capitalization, has yet to reclaim the $3,000 price level since early August. Since the beginning of September, Ethereum has mostly traded below $2,600, but this week brought a glimmer of hope for investors as it finally managed to break above the $2,600 threshold. Now that this resistance threshold has been broken, the next outlook is a continued surge up until the $3,000 price level. An analysis on the CryptoQuant platform points to a potential catalyst for this move to the upside. Notably, this analysis identifies an emerging bullish trend in Ethereum’s funding rates as…

Ripple’s bond with DIFC to improve its presence in Dubai, increasing influence across the Middle East. DFSA’s approval of Ripple’s XRP provides legal clarity, showing the UAE’s stance on cryptocurrency and blockchain innovation. The bond is set to fasten blockchain adoption in the UAE, focusing on companies and practical applications. Ripple, the founder behind the XRP token, announced a new deal with the Dubai International Financial Centre. This joint effort is set to adjust innovation in blockchain and digital assets across the United Arab Emirates. Ripple, DIFC Intergration Ripple has shown its plans to upgrade its global presence by merging…

Binance co-founder Changpeng Zhao, known in the crypto world as “CZ,” is scheduled to be released on Friday evening, following a 4-month stint in prison after pleading guilty to failing to “maintain an effective anti-money laundering program,” Although his prison term was officially slated to end on Sunday, according to prison rules, inmates whose official release date is set for a weekend or holiday can be discharged on the last preceding weekday—unless circumstances warrant further detention. Despite when he’s actually released, Zhao faces strict limitations on his involvement with Binance, the world’s largest cryptocurrency exchange by trading volume, which he…

Liquidity is projected to surge into the crypto market in the fourth quarter of the year, creating a favorable environment for a potential parabolic rally in both Bitcoin (BTC) and altcoins. This influx of capital could drive prices higher as investors look to capitalize on the anticipated momentum. Today, Bitcoin’s price surged past $65,000, marking a significant milestone. However, according to a recent report, this rise is just the beginning of a potentially massive price boom. The anticipated surge is likely fueled by the return of retail investors and an influx of billions of dollars from the Chinese market. More…

Ethereum ETF inflows and positive funding rates could help maintain bullish momentum. Investors need to be cautious of ETH’s rising exchange reserve. Ethereum could retest the $2,707 resistance after bouncing off the 50-day SMA. Ethereum (ETH) traded around $2,640 on Thursday, up more than 2% following increased bullish bias among investors, as evidenced by ETH ETF net inflows and an uptrend in funding rates. However, investors may be wary of a potential correction from ETH’s rising exchange reserve. Ethereum ETF inflows and positive funding rates paint bullish outlook Ethereum ETFs recorded net inflows of $43.2 million on Wednesday, bringing their…