Author: NBTC

The U.S. Securities and Exchange Commission has secured a significant victory against cryptocurrency exchange Kraken. Judge William Orrick has denied the exchange’s attempt to dismiss the regulator lawsuit. Last July, Judge Analisa Torres delivered a win for enterprise blockchain company Ripple by recognizing the secondary sales of the XRP token as non-securities. However, the ruling proved to be quite controversial. For instance, Judge Jed Rakoff declined to distinguish between primary and secondary market transactions. Notably, Judge Orrick says that he aligns with the Ripple ruling. However, he has added that this is the first time that a court has dealt…

Sonic Labs, formerly known as Fantom, has announced a bounty program aimed at incentivizing developer activity ahead of the Sonic network launch. The Sonic Boom and Sonic Gems bounty program seeks to support the first wave of applications on the Sonic platform, according to a press release. The initiative targets key blockchain verticals, including exchanges, payments, tooling, stablecoins, gaming, and lending, among others. Fantom (FTM) will transition to Sonic (S) later this year. You might also like: Fantom’s FTM token surges over 190% ahead of Sonic upgrade Boosted rewards for users Sonic Gems are points that will allow holders to…

Norway’s sovereign wealth fund has significantly increased its exposure to Bitcoin. Governments around the world currently hold over 400,000 BTCs. “Norway’s public fund now holds the equivalent of 2,446 BTC through investments in tech firms,” reports K33Research. The Norwegian sovereign wealth fund’s strategic shift towards Bitcoin marks a notable trend in global cryptocurrency adoption. Norwegian Sovereign Wealth Fund Expands Bitcoin Holdings In recent financial news, Norway’s sovereign wealth fund (NBIM) has increased its indirect Bitcoin exposure. According to K33Research, NBIM currently holds the equivalent of 2,446 BTC through strategic investments in companies involved in cryptocurrencies. This portfolio, valued at $143…

Galaxy Digital recently pulled a sizable 3,735 ETH from Binance. This withdrawal, worth about $10.24 million, happened when Ethereum was trading at $2,740 per token. This move boosts Galaxy Digital’s Ethereum holdings on the blockchain to 63,984 ETH, a hefty $175 million. As a result, Ethereum’s price saw some swings in the last 24 hours, reflecting the broader market. It climbed near $2,790 but then dropped back below $2,750. This upward movement, however, was short-lived as the price subsequently dropped, slipping below the $2,750 mark. As at press time, Ethereum price is hovering around $2,736.12, down by 0.52% over the…

Crypto’s growing interest in blockchain-based prediction platforms shifted into high gear Monday, as the Solana-based decentralized exchange Drift Protocol released BET. Short for Bullish on Everything, Drift’s offering is set to compete with Polymarket as a divisive U.S. election season spurs massive amounts of bets on the leading platform. Ramping up to speed, Drift’s product was released in alpha, with users gearing up across two political bets. And those were enough to deliver solid day-one numbers for the newcomer. “In the first 24 hours after Drift’s BET prediction markets launch, we’ve achieved more than $3.5 million total orderbook liquidity,” tweeted…

Satoshi Nakamoto, the most enigmatic figure in the crypto industry, remains unknown. He probably holds 1.1 million BTC, which makes him one of the wealthiest Bitcoin whales. Nakamoto mined the first Bitcoin block in January 2009 and published its whitepaper in October 2008. That whitepaper had Nakamoto’s name; thus, he became the creator of the world’s first blockchain network, Bitcoin. Nakamoto himself wouldn’t have thought that his digital currency might one day have over $1.3 Trillion market cap. Bitcoin flourished, created a whole new asset class, and became the king of digital assets. Although quite volatile, Bitcoin remains one of…

Enjin, an interlinked network on Ethereum for NFT and gaming development tools, has announced an exclusive landmark in Web3 gaming. Enjin has enabled the functionality of Primythical Chest NFT for up to ten games for free, featuring 77 utility forms across the respective games. The platform will additionally carry out additional integrations in this respect in the next weeks. Enjin Launches Multiverse Codex to Enhance Cross-Game NFT Utility in Popular Titles The Primythical Chest NFT focuses on serving in popular titles, taking into account Etherscape, The Six Dragons, and Lost Relics. These titles have been recently getting significant popularity on…

Prosecutors in Seoul, South Korea, have launched an investigation into allegations that a senior police officer accepted bribes in connection with cryptocurrency-related cases. On August 23, the Seoul Southern District Prosecutors’ Office’s Virtual Asset Crimes Joint Investigation Unit, led by Chief Park Geon-wook, raided the Gangnam Police Station as part of an investigation. The investigation focuses on a police officer identified as “A” who is suspected of receiving money and goods in exchange for benefits related to a cryptocurrency case while serving at the Gangnam Police Station. Investigators seized materials from the police station’s investigation department to further investigate the…

Chain abstraction here, chain abstraction there. You’ve probably heard it by now when people talk about “Web3 UX” and other such cool-sounding words and ideas. Well, what the heck is it? Formally, chain abstraction is an emerging concept in blockchain tech that aims to simplify the user experience of interacting with multiple blockchain networks. If you’ve ever wondered how “mass adoption” or, that is to say, the broader adoption of blockchain-based technologies could be spread, chain abstraction is one of the ways to achieve this. At its core, chain abstraction seeks to remove the complexities and manual processes typically required…

The stage looks set for Bitcoin to surpass its previous all-time high, fueled by a surge in global liquidity, several macroeconomic analysts argue. In recent weeks, the global macro financial outlook has been showing signs of a shift. Over the weekend, Goldman Sachs economists announced that they had lowered their estimations of the probability of a U.S. recession in 2025 from 25% to 20%. This change came after the latest U.S. retail sales and jobless claims data were released, which suggested that the U.S. economy might be in better shape than many had feared. The Goldman Sachs analysts added that…