Author: NBTC

A 25-year-old Japanese man was sentenced to three years in prison last Friday for creating crypto-extorting ransomware using generative AI. Last year, Ryuki Hayashi created code capable of targeting and encrypting data from other devices and issuing crypto ransoms. He was able to do this by repeatedly rephrasing his prompts so that he could bypass generative AI safety parameters. Hayashi, who was reportedly unemployed at the time, told Kyodo News that he created the ransomware code in under six hours. Read more: Did ‘AI’ Truth Terminal just pump and dump a coin named $RUSSELL? When arrested this year by Japan’s…

Binance Wealth allows private client managers to easily onboard high-net-worth individuals to the exchange and offer them a wide range of digital assets. The service is offered through the global Binance.com platform meaning there are restrictions for some jurisdictions, such as the U.S. Binance, the biggest cryptocurrency exchange by trading volume, has unveiled Binance Wealth, a white glove service that allows private client managers to easily onboard high-net-worth individuals and offer them a wide range of digital assets. Wealth managers will handle the onboarding of clients by submitting know-your-customer (KYC) documentation and creating individual sub-accounts on Binance for each client,…

Binance CEO Changpeng Zhao (CZ) ignited a discussion on the history of gold-backed ETFs on X, piquing interest in these investment vehicles among crypto and traditional investors. Gold ETFs offer exposure to gold in a more accessible and liquid format, which appeals to a broad range of investors. Initially launched in 2004 with SPDR Gold Shares (GLD), gold-backed ETFs have since expanded, reflecting increasing demand for gold as a hedge against economic uncertainties. How long has gold ETFs been around? — CZ 🔶 BNB (@cz_binance) October 29, 2024 SPDR Gold Shares (GLD): The Pioneer Gold ETF GLD debuted on the…

US spot Bitcoin exchange-traded funds (ETFs) endured net outflows for straight seven trading days, collectively shedding over $1 billion from August 27 to September 5, according to data from Farside Investors. US Bitcoin ETFs hit $1B net outflows in 7 days Notably, Fidelity’s Wise Origin Bitcoin Fund (FBTC) was the one that led the capital exit, not Grayscale’s Bitcoin ETF (GBTC). Approximately $374 million left FBTC over those seven days while GBTC posted $227 million in outflows. The world’s largest Bitcoin ETF, BlackRock’s iShares Bitcoin Trust (IBIT), saw its second-ever outflow since its January launch, with investors withdrawing $13.5 million…

The total value locked (TVL) on the Sui Network surged to a record $810.5 million on September 19, according to DefiLlama data. The SUI token has also seen significant gains, up more than 30% over the past seven days, according to CoinGecko data. Despite previous TVL fluctuations during broader market corrections, the year-to-date gains have been around 283% from around $211 million. TVL, which indicates the amount deposited into DeFi protocols for activities like lending and derivatives, highlights the growing interest in Sui’s offerings. All three leading DeFi protocols on the Sui blockchain have seen gains over the past week.…

Virtual assets could be included in a new set of tax concessions. Regulatory updates are also in the works for stablecoin issuers, OTC trading services and custodians. Virtual assets are among a list of proposed investment types that could receive new tax concessions, Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury, revealed at Hong Kong Fintech Week on Oct. 28. The other proposed new candidates for tax concessions are immovable property situated outside Hong Kong, emission derivatives/allowance, insurance linked securities, interest in non-corporate private entities and loans and private credit investments. Hui did not elaborate on what…

Bybit, the world’s second-largest cryptocurrency exchange, has announced it’s expanding its off-ramp services with the launch of the Bybit Card, according to the information shared with Finbold on Tuesday, October 29. Available for registration in select regions, the Bybit Card simplifies how crypto users access, hold, and spend their digital assets in everyday transactions, underscoring Bybit’s commitment to advancing crypto accessibility worldwide. To celebrate, newly registered users can benefit from a 10% cashback up to $600 for a limited period, with future rebates ranging from 2–10% and an annual percentage yield of up to 8%. The Bybit Card Launched in…

The possibility of further crypto selloffs in the near term increased as Bitcoin’s (BTC) price closed below the crucial support level of around $57k on Thursday. The flagship coin has dropped over 4 percent this week to trade about $56,786 on Friday, September 6, during the early Asian session. With the altcoin industry continuing to show further mid-term bearish sentiment, investors have shied away from buying until the correction cools off. Bitcoin’s fear and greed index dropped to 22 percent on Friday, denoting extreme fear of capitulation Ahead. Whale Traders Are Wary of Short-Term Volatility for Bitcoin The demand for…

VeBetterDAO is leveraging blockchain technology to incentivize environmentally friendly behaviors through decentralized applications (dApps). Beyond rewarding sustainable actions, the B3TR token also facilitates governance within the VeBetterDAO ecosystem. Amid the current buzz of meme coins and flashes in the pan-type tokens, there is now a breed of projects such as VeChain’s VeBetterDAO. This venture aims to introduce real utility alongside sustainable development goals, per this CNF report. VeBetterDAO leads the change through decentralized applications (dApps) by rewarding pro-environmental behaviors. Moreover, its native asset, the B3TR token, will play a key role in the journey. Today, most cryptocurrencies come with very…

A recent indictment from a federal grand jury has unveiled the illegal activities of Maximiliano Pilipis, who previously ran AurumXchange, an unlicensed virtual currency exchange located in Noblesville, Indiana. According to a press release from the US Department of Justice, Pilipis is facing five counts of money laundering and two counts of deliberately failing to file tax returns, revealing a lengthy scheme rife with financial wrongdoing. Court documents show that Pilipis operated AurumXchange from 2009 to 2013, facilitating the exchange of Bitcoin and other virtual currencies for US dollars. His exchange charged significant fees, accumulating millions of dollars and amassing…