Author: NBTC

A federal judge has rejected Coinbase’s motion to dismiss a proposed class action lawsuit by shareholders, Reuters reported Sept. 6. The lawsuit accuses the largest US crypto exchange of downplaying the likelihood of being sued by the US Securities and Exchange Commission (SEC). US District Judge Brian Martinotti ruled on Sept. 5 that shareholders adequately alleged that Coinbase and top executives defrauded them. The decision highlighted that the class action lawsuit correctly described: “A favorable picture of the improbability that the SEC would file an enforcement action by repeatedly emphasizing that the crypto assets they listed were not securities.” The…

Bitcoin (BTC), the largest cryptocurrency, is attempting to test the crucial level of $60,000 after its painful dropdown a couple of days ago. Largely, this upsurge should be attributed to the increased activity of U.S. investors, Coinbase Premium dynamics demonstrate. Bitcoin (BTC) investors in U.S. are buying, Coinbase Premium says After spending two weeks in the red, Coinbase Premium, a crucial indicator of purchasing activity of U.S. Bitcoin (BTC) investors, is returning to the green zone. During the worst moments of the latest collapse, it dropped to -0.15%, as demonstrated by on-chain analyst @IT_Tech_PL from the CryptoQuant community. #Bitcoin: demand…

Este artículo también está disponible en español. Liquidity of Ether on US exchanges has plunged as much as 40% since the first spot Ether exchange-traded funds entered the market on July 23, 2024. That is a move rather expectedly coming for traders and analysts that had previously viewed the ETFs as a means to improve market liquidity and therefore stabilize prices. Instead, what has taken place is rather different: the average market depth of 5% for ETH pairs has fallen to around $14 million. Meanwhile, offshore exchanges are posting a similar decline at about $10 million in liquidity. Ether Liquidity…

While investors in the cryptocurrency market are divided into institutional and retail investors, retail investors turn to riskier assets to earn more money in a shorter time. On the other hand, institutional investors, which are large companies, prefer to invest in riskier and larger cryptocurrencies. XRP Interest Is Increasing! At this point, in the latest survey conducted by EY-Parthenon, the strategic advisory arm of international consultancy firm Ernst & Young (E&Y), more than 20 percent of institutional investors admitted to investing in XRP. The survey included 277 institutional investors, including COOs, CEOs and portfolio managers located in the U.S., Europe,…

Kalshi, a U.S.-regulated prediction market platform, won its federal lawsuit against the Commodity Futures Trading Commission over a plan to offer contracts on which party will control each house of Congress after the November election. Although the CFTC could appeal, Kalshi, which had been locked out of this year’s election betting boom while the case was pending, can now grab a sliver of that action in the last two months before the election. “We did it!” the company said in a notice on its website Friday. “U.S. election markets are coming to Kalshi.” More broadly, the ruling represents a victory…

Bitcoin price peaked at $58,800 on Aug 8, scoring 6% gains amid bullish tailwinds from news of Ripple securing a lenient fine in the long-running lawsuit with the US SEC. Technical indicators highlight key BTC price resistance and support levels to watch. BTC Scores 6% Gains Amid XRP Rally On August 8, 2024, Bitcoin surged by 6%, fueled by a broader cryptocurrency market rally following Ripple’s settlement with the U.S. Securities and Exchange Commission (SEC). Ripple Labs, led by CEO Brad Garlinghouse, agreed to pay a $125 million fine to resolve charges related to its programmed sale of XRP coins…

The fresh analytical data indicates a significant dip in Ethereum’s revenue. As per Galaxy Research, the L1 protocol revenue of Ethereum from L2 solutions has plunged to almost zero following the Dencun upgrade, marking a prominent development in the scaling strategy of Ethereum. The platform took to the social media account thereof to discuss the current scenario in detail. Ethereum L1 protocol revenue from Layer 2s is almost zero since the Dencun upgrade. pic.twitter.com/mvoyaOn718 — Galaxy Research (@glxyresearch) September 7, 2024 L1 Revenue of Ethereum Plunges to Nearly Zero Following Dencun Upgrade Galaxy Research noted that the slump in the…

As Terraform Labs (TFL) moves towards winding down its operations, it has announced that Proposal 4818 will be the final chain upgrade implemented. This decision comes after TFL’s settlement with the SEC and its ongoing Chapter 11 bankruptcy proceedings. As part of the settlement, TFL will close its business within 30 days of judgment. Following the conclusion of this upgrade, TFL will no longer be able to support future upgrades, marking a significant shift in the Terra blockchain’s management. Here’s what you need to know about these changes and their potential impact. Upcoming Bankruptcy Hearing Terraform Labs is scheduled for…

The former president of the United States is launching a crypto yield product, even as he appeals to the crypto industry in his current bid for office. Donald Trump will be the “chief crypto advocate” for World Liberty Financial, a venture that has offered scant hints so far about what it will actually do. WLFI The narrative Crypto is trying to make an impact this election cycle. Now, one of the leading contenders for President of the U.S. is tied to a forthcoming crypto venture. Why it matters There’s one pretty interesting question: how should the former president and current…

US hedge funds and institutional investors reportedly remain bullish on Bitcoin (BTC) despite a massive selloff in the crypto market this week. According to a new report by Bloomberg, Yevgeniy Feldman, the co-founder of private brokerage firm SwapGlobal, says that blue-chip investors saw an opportunity to buy crypto at lower prices as Bitcoin fell by as much as 17% earlier this week. Says Feldman, “People got extremely liquidated on longs, it was horrific. But the US hedge-fund and institutional participants that trade options via OTC (over-the-counter) desks on Monday and Tuesday restarted making bullish options bets by buying call spreads…