Author: NBTC

David Schwartz, CTO of Ripple, has weighed in on the ongoing hot debate surrounding the SEC’s appeal of its case against the San Francisco blockchain company. The debate arose after the financial watchdog reportedly missed the deadline to file an appeal, causing a huge controversy and leaving most XRP enthusiasts scratching their heads, trying to understand what happens next. The fact that the SEC had until noon yesterday to file an appeal with the Second Circuit Court of Appeals was confirmed by Schwartz, who noted that he is not exactly an expert on appellate procedure. At the same time, the…

Ethereum’s price has fluctuated under $2,800 for the past few weeks, and it is stuck in a consolidation phase. Despite several attempts, ETH has been unable to break through key resistance levels, leaving investors uncertain. Mixed signals from various technical indicators are adding to the ambiguity, making it difficult to predict whether Ethereum can climb back to $3,000 soon. Ethereum Is Losing Money Ethereum’s Network Unrealized Profit/Loss (NUPL) currently sits in the optimism zone, signaling improving market sentiment. This indicator tracks all holders’ total profit or loss relative to when they acquired their assets. The current levels reflect growing confidence…

Federal Reserve member Christopher Waller shared his views on the evolving landscape of decentralized finance (DeFi) and stablecoins, outlining both their potential benefits and associated risks. In a series of statements, Waller acknowledged the complementary nature of technological innovations in DeFi to traditional finance and said that appropriate regulations are needed to safely leverage these innovations. Waller noted that some of the services emerging through DeFi cannot be replicated by traditional finance, but the technological advances coming from DeFi are largely complementary. These innovations have the potential to enhance centralized financial markets and increase the value provided by financial intermediaries,…

Terraform Labs (TFL) on Wednesday revealed its plan to shut down its operations, products, and services if talks with third parties fail. The beleaguered company and its CEO Chris AMANI confirmed they received an order from a bankruptcy court to cease operations following a settlement with the SEC. In a post on social media platform X on September 25, Terraform Labs announced progress in talks with third parties to outsource some of its products and services. With confirmation from Terra CEO Chris Amani, the company’s products and services will be shut down on October 30, 2024. TFL hints that third-party…

FOX Business Journalist Eleanor Terrett reveals a new deadline for the U.S. SEC to file Form C regarding its appeal against Ripple. There has been speculation that the Second Circuit might dismiss the SEC’s appeal against Ripple. This speculation gained momentum after some experts pointed out that the securities agency missed the Form C filing deadline. SEC Form C Filing Notably, the SEC was required to file the Form C within 14 days after it notified the court of its appeal intentions. However, there has been a misunderstanding regarding the appropriate deadline for the Form C filing. Since the SEC…

The Bitcoin (BTC) chart is hinting toward a massive price drop. The coin has already been struggling with an extended consolidation period, and this potential decline could make the situation worse. It is not a minor decrease; we are talking about a drop of almost 45% in the BTC price. This is a serious warning for the community, as it can have broader impacts on the market. Ali Martinez, an experienced trader and on-chain analyst, shared his analysis of this potential price dip on X (formerly Twitter). He explained that history suggests that when the Bitcoin price is trading above…

It’s hard for projects to beat the returns offered by staked ether on a risk-adjusted basis. Consequently, the asset and its yield are becoming a benchmark for the crypto economy in similar fashion to the fed funds rate and the traditional economy. Slowly but surely, staked ether (stETH) is becoming a benchmark for the entire on-chain economy. According to a new report from investment management firm ARK Invest, Ethereum’s monetary policy has turned staked ether into a unique type of asset – one that resembles sovereign bonds. “The ETH staking yield is a gauge for smart contract activity and economic…

The President of the Central Bank of the Latin American giant announced plans to expedite the regulation of asset tokenization and stablecoins by 2025. The bank will issue a new consultation this month to gather more input on the rules for approving VASPs’ operations in the country. Central Bank of Brazil to Expedite Asset Tokenization and Stablecoin Regulation to 2025 Brazil is becoming a cryptocurrency hub in Latam, and its authorities are working to provide clearer regulations for crypto companies. Roberto Campos Neto, president of the Central Bank of Brazil, announced that he estimates rules dealing with asset tokenization and…

Cyprus’s financial regulator is giving crypto-asset service providers a narrow window to operate under existing national regulations before new EU-wide rules take effect. The Cyprus Securities and Exchange Commission (CySEC) announced today (Thursday) it will stop accepting notifications from European Economic Area (EEA) firms for cross-border crypto services on October 30, 2024. This deadline comes just two months ahead of the Markets in Crypto-Assets (MiCA) implementation for crypto service providers, set for December 30. Firms that successfully notify CySEC by the October 30 cut-off will be permitted to continue their cross-border operations during a transitional period lasting until July 1,…

The cryptocurrency market has witnessed a sharp increase in liquidations over the past 24 hours, with total liquidations reaching a staggering $287.65 million. This surge in liquidations reflects significant market volatility, impacting both long and short positions across major exchanges. LIQUIDATION DATA IN 24 HOURS TOTAL LIQUIDATIONS: UP TO $287.65M TOP 5 COINS WITH HIGHEST LIQUIDATION: $BTC ~ $80.00M $ETH ~ $66.52M… pic.twitter.com/RNPIxFMC5d — PHOENIX – Crypto News & Analytics (@pnxgrp) October 16, 2024 Bitcoin ($BTC) has seen the largest liquidation value, with approximately $80 million wiped out, equivalent to 1.18K BTC. This is followed closely by Ethereum ($ETH), which…