Author: NBTC

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…

Jamie Coutts, chief crypto analyst at Real Vision, has taken to his account on the X platform (formerly know as Twitter) to warn Bitcoin holders in Australia over the “Orwellian legislation” that may include them as potential law violators. Holding Bitcoin could become illegal in Australia, Coutts suggests Coutts shared a tweet published by writer and journalist Alex James about the recent legislation passed in Australia. The analyst referred to it as “Orwellian” since it warns about “serious harm” that can allegedly be caused in certain aspects of public life, both toward other citizens and elements of the local state…

Ethereum’s adoption of layer-2 networks could cost ETH trillions of dollars in potential market capitalization over the next few years if its associated dynamics remain unbalanced, according to VanEck Head of Digital Assets Research Matthew Sigel. In a Twitter (aka X) post, the analyst posited Thursday that Ethereum’s “changing fundamentals suggest a model update is in order.” Instead of climbing to $22,000 by 2030, Ethereum’s price projection would plummet 67% to $7,300 if “the current reality” was reflected, Sigel wrote. VanEck’s model factors in Ethereum’s expected growth in total value locked, reflecting the value of assets used in decentralized finance…

Before bitcoin took the spotlight, several digital currencies aimed to change the way we exchange value, but none could withstand the test of time. Ecash, E-gold, Liberty Reserve, and Q coins each had their moment, only to fall short in the end. This piece dives into their stories and uncovers how bitcoin, introduced by Satoshi Nakamoto in 2008, managed to outlive these early digital money experiments. How Bitcoin Surpassed Its Predecessors: Ecash, E-gold, Liberty Reserve, and Q Coins Bitcoin wasn’t the first attempt at digital currency. Years before its debut, a handful of systems emerged, all striving to create new,…

Tennessee has secured a multi-million dollar settlement with GS Partners over alleged deceptive investment schemes involving digital assets and the metaverse. Investors were enticed with tokens and vouchers linked to physical gold, skyscrapers, and virtual staking pools. Now, affected individuals have 90 days to file claims, with promises of refunds for all deposited funds or cryptocurrencies. Authorities are urging investors to prepare for their claims ahead of the November opening. GS Partners Faces Settlement Over Misleading Metaverse Investments The Tennessee Department of Commerce & Insurance’s (TDCI) Division of Securities announced on Tuesday Tennessee’s participation in a multi-million dollar settlement with…

A cryptocurrency researcher has provided information on the repayment schedule for creditors of the bankrupt FTX exchange, outlining what those affected can expect and when they can expect to receive their funds. The update comes after the FTX bankruptcy plan was approved on October 8, 2024, and the repayment timeline is now taking shape. The researcher detailed the expected repayment periods based on the value of creditors’ claims: For claims under $50,000: Creditors can expect a one-time payment between January and March 2025. For receivables over $50,000: Multiple payments are scheduled to be made throughout 2025, covering the first and…

CryptoQuant’s UTXO Age Bands chart offers a window into Bitcoin’s market dynamics, with short-term holders on a selling spree and long-term holders showing accumulation. This tool is crucial for cryptocurrency investors seeking to understand market trends and make informed decisions. Decoding Bitcoin’s Investor Behavior via UTXO Bands The chart shows Bitcoin’s realized capitalization across different age bands of unspent transaction outputs (UTXOs). Each UTXO age band represents the period Bitcoin has been held without being spent, ranging from one day to ten years or more. The chart reveals how Bitcoin ownership is distributed among various types of investors. Read also:…

Nearly 70% of institutional investors holding Ethereum (ETH) are engaged in staking, with 52.6% of them holding liquid staking tokens (LSTs), according to a Blockworks Research report. Nearly half of institutional investors staking ETH prefer to use only one integrated platform, such as Coinbase and Binance. Meanwhile, 60.6% of the survey participants also utilize third-party staking platforms. According to the report, one out of five institutional investors surveyed had over 60% of their portfolio allocated to Ethereum or an ETH-based LST. The survey included exchanges, custodians, investment firms, asset managers, wallet providers, and banks. The report revealed that the key…

JPMorgan Chase, Wells Fargo, Bank of America and Citi are unloading billions of dollars in bad debt that they’ve given up on recovering. New earnings data shows the four largest banks in the country collectively recorded $6.9 billion in net charge-offs in Q3 of this year, primarily driven by credit card delinquencies and soured consumer loans. JPMorgan says its net charge-offs hit $2.087 billion in Q3, up nearly 40% from $1.497 billion registered in Q3 of 2023. Wells Fargo says its net charge-offs surged to $1.111 billion in Q3, an increase of nearly 54% from $722 million recorded a year…