Author: NBTC

SEC Commissioner Hester Peirce, popularly referred to as Crypto Mom, addresses the regulatory ambiguity surrounding crypto classification during a recent congressional hearing. Yesterday’s hearing saw five SEC commissioners, Gary Gensler, Hester Peirce, James Lizarraga, Mark Uyeda, and Caroline Crenshaw, testify before the U.S. House Financial Services Committee. As reported earlier, this landmark event marked the first time since 2019 that all SEC commissioners testified before Congress. Peirce Criticizes SEC Over Its Imprecise Language During the hearing, Peirce criticized the SEC for using imprecise language to create confusion about whether a token itself is a security or part of an investment…

Assetera, a blockchain-based investment and trading firm for financial instruments, has engaged Polygon to power its secondary market real-world-assets (RWAs) platform. The platform offers tokenized assets such as securities, funds, and money market instruments on a regulated digital trading platform. Assetera will use Polygon’s scalable Ethereum network to secure transactions and use stablecoins for purchase, clearing, and settlement to ensure a fast and efficient process. The Austrian-regulated company holds MiFID II and Virtual Asset Service Provider (VASP) licenses and plans to upgrade to Markets in Crypto Assets (MiCA) standards, which will open the door to offering its services across the…

The U.S. government moved $2 billion worth of seized bitcoin (BTC) on Monday, tanking already retreating prices and sparking investor concerns of selling the assets just two days after presidential hopeful Donald Trump’s promise to begin stacking BTC. Blockchain data by Arkham Intelligence shows that a wallet tagged as “U.S. Government: Silk Road DOJ” transferred 29,800 BTC related to the Silk Road website to an unlabeled address with no prior history of transactions. Prior movements often foreshadowed impending asset sales. BTC tumbled below $67,000 following the transfer, extending its decline from the $70,000 session high earlier today. At press time,…

A notable 168% increase in Ethereum’s burn rate in the last week indicates increased on-chain activity and possible price implications for the asset. One of the main factors impacting price performance is the deflationary pressure that Ethereum creates due to its daily burning of a sizable amount of ETH. The supply and demand of Ethereum have changed significantly over the last seven days with 6,098 ETH being added to the system and 12,250 ETH being burned. The increasing network usage of Ethereum is one of the main causes of the burn rate spike. Due to gas fees associated with each…

As Donald Trump and Elon Musk spoke on Twitter Spaces, it marked the opening of what’s been touted as the Pump.fun Olympics. Over a three hour period, 10,000 tokens were launched by the meme coin factory. But degens weren’t happy about it. “How is this a good thing anymore?” Tyler Stockfield (better known as Anon) wrote on Twitter, “Nobody is having fun anymore besides the Pump Fun team raking in fees.” Pump.fun is a token launchpad that gained popularity due to it enabling anyone to create a coin in minutes for a small fee. Recently the protocol got rid of…

SEC Commissioner Hester Peirce has acknowledged that the agency granted exemptions to specific entities to provide crypto custody services for Bitcoin and other cryptocurrencies, bypassing the restrictions imposed by SAB 121. Peirce disclosed this position during yesterday’s SEC hearing with the House Financial Services Committee. The Controversy Over SAB 121 For context, the SEC’s Staff Accounting Bulletin 121 (SAB 121) requires companies holding digital assets for customers to report them as liabilities on their balance sheets. This has sparked controversy, as it disrupts traditional accounting practices and adds financial burdens on companies offering crypto custody services. The crypto industry views…

EA Capital, a financial service provider focusing on blockchain technology in South Africa, has obtained a regulatory license in the region. The company received a Category I license as a Crypto Asset Service Provider from the Financial Sector Conduct Authority. Since 2022, EA Capital has reportedly operated as a regulated Financial Services Provider and an Accountable Institution under the Financial Intelligence Centre. According to the company’s LinkedIn post, the licensing reflects South Africa’s efforts to regulate the digital asset space with the aim of protecting investors and consumers while enhancing the sector’s credibility. The company now seeks to integrate established…

In what’s become a familiar pattern over the past few months, a rally in bitcoin (BTC) to a key level was met with a wave of selling as the price during Monday morning U.S. hours quickly plunged more than 3% after pushing above $70,000 for the first time since early June. At press time, bitcoin was changing hands at $67,800, roughly flat over the past 24 hours. The broader CoinDesk 20 Index was higher by 1.1% over the same time frame, helped along by sizable gains for bitcoin cash (BCH), litecoin {LTC}} and solana (SOL). Traders will be familiar with…

Ethereum price started a downside correction from the $2,700 resistance. ETH is now above the $2,550 support and might aim for more gains. Ethereum is aiming for a fresh increase from the $2,550 support. The price is trading below $2,620 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $2,620 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above the $2,550 support to start a fresh increase in the near term. Ethereum Price Sees Downside Correction Ethereum price struggled to clear the $2,700 resistance zone. ETH…

Popular meme-inspired cryptocurrency Shiba Inu (SHIB) is once again in the spotlight in the dynamic world of crypto, as an unknown new whale allegedly withdrew billions of tokens from major U.S. exchange Coinbase. Thus, according to on-chain data displayed by Arkham Intelligence, the entity behind the “0x73f8” address has withdrawn 165.37 billion SHIB in the last five days, which is equivalent to $2.26 million in current prices. This amount of Shiba Inu tokens was withdrawn in three transfers, with the latest consisting of 97 billion SHIB, worth $1.33 million, happening over the last 17 hours. It is worth noting that…