Author: NBTC

US spot Bitcoin ETFs record $152.42M in net outflows on Tuesday. Total trading volume for Bitcoin ETFs reaches $1.7 billion. Bitcoin faces potential 8-12% correction, may drop to $60,000. The U.S. spot Bitcoin exchange-traded funds (ETFs) have seen a notable decline in investor interest, with a recorded $152.42 million in net outflows this past Tuesday. This marks a continued downtrend, being the fourth consecutive day of net outflows. The largest outflow was observed from Fidelity’s FBTC, which saw $83 million leave its coffers, significantly impacting its financial standing. Shift in Market Dynamics Among other notable ETFs, Grayscale’s GBTC reported substantial…

The downward trend in Bitcoin and altcoins, which started in June after the German government sales, caused the price to drop to $ 53,600 in early July. While BTC and altcoins gave a signal of recovery after the deepening declines last week, whales, who tend to take advantage of the declines, did not remain idle and bought altcoins. Accordingly, while the market was recovering, on-chain data tracking platform Nansen announced the most purchased cryptocurrencies in the last 24 hours. According to Nansen data, whales generally turned to Ethereum (ETH)-based cryptocurrencies. Accordingly, while WETH, cbETH, stETH were among the top altcoins…

While U.S. crypto insiders continue to pound away at a noncommittal Biden administration, a more urgent mission is developing to find out the digital assets views of Vice President Kamala Harris, though her dual life as vice president and presidential candidate may interfere with taking a strong stance. Industry insiders have been conducting meetings with officials connected to the White House, and though one of those meetings last week included a senior adviser from Harris’ own office, the sessions have been predominantly one-sided and had nothing to do with her campaign. Meanwhile, some crypto executives and investors are pursuing a…

The B.C. Securities Commission has ruled that the crypto platform ezBtc defrauded its customers, diverting $9.4 million to gambling, personal use. A panel from Canada‘s British Columbia Securities Commission has found that a crypto trading platform based in British Columbia, dubbed “ezBtc,” engaged in fraudulent activities by misleading its customers and diverting approximately C$13 million (over $9.4 million) of their assets to gambling. In a press release on Aug. 12, the BCSC said that the platform, established by former British Columbia resident David Smillie, assured customers that their crypto holdings would be stored only in “cold storage.” However, the BCSC…

While South Korea’s Bitcoin (BTC) transaction volume experienced a significant decline in the 2nd quarter, the liquidity of major exchanges in the United States increased, according to data from analysis company Kaiko. Last week, the most Bitcoin sales were made on Binance and Bybit. However, the weekly trading volume of the four largest exchanges in South Korea, Upbit, Bithumb, Coinone, and Korbit, fell from an average of $35 billion in Q1 to $6 billion in early June. This comes after Korean Won (KRW) trading volume briefly surpassed USD trading volume in Q1. The decline has been particularly strong at Upbit,…

Just 45 minutes ago, two wallets, likely controlled by the same whale, deposited substantial Maker (MKR) and Lido (LDO) tokens to FalconX, a prominent cryptocurrency exchange. The deposits included 3,600 MKR, valued at $8.07 million, and 2.4 million LDO, valued at $3.79 million. Notably, both wallets share the same FalconX deposit address, suggesting they belong to a single entity. 45 minutes ago, two wallets (likely one whale) deposited 3,600 $MKR ($8.07M) and 2.4M $LDO ($3.79M) to #FalconX.Notably, they share the same FalconX deposit address and thus likely belong to the same whale.Currently, these wallets have:• An est. total profit of…

Ben Caselin, Chief Marketing Officer of VALR, a Pantera-backed crypto exchange, delivered a keynote on the unique patterns of crypto adoption at the Foresight 2024 conference in Hong Kong on Sunday, August 11. In particular, Caselin focused on the contrasts between how crypto is seen in regions like Hong Kong compared to various countries across Africa, Asia, and Latin America. Crypto adoption in Hong Kong While Hong Kong is known for cultural and financial innovation, being increasingly recognized for its role in driving Web3, emerging markets such as El Salvador and South Africa are developing their own cryptocurrency hubs. In…

South Korea’s Financial Supervisory Service (FSS) now requires defunct cryptocurrency exchanges to obtain insurance to safeguard user assets. This measure comes as part of a wider initiative to bolster investor protections following the recent implementation of the Virtual Asset User Protection Act, South Korea’s first comprehensive regulatory framework for the crypto industry. The new insurance mandate aims to protect assets held by bankrupt exchanges, mitigating risks associated with potential hacking incidents. Several exchanges that have shut down, including GDAC and Hanbitco, have already secured insurance coverage. Huobi Korea, another major exchange, is reportedly considering taking similar steps to meet this…

Farcana, a multiplayer arena hero shooter powered by a Web3 economy, has partnered with eesee. eesee.io is a launchpad and gamified marketplace for digital assets, tokens, and real-world assets (RWAs). This collaboration marks the beginning of the eesee Launchpad Season, with 15 tier-1 projects already signed up. We’re excited to partner up with @eesee_io, a launchpad and gamified marketplace for digital assets, tokens and RWAs.With their unique approach and impressive traction, the team announced the start of eesee Launchpad Season and already signed 15 tier-1 projects!Other bullish… pic.twitter.com/mZheiekfF9 — Farcana (@FarcanaOfficial) July 9, 2024 $ESE Token IRO Sees 250K Participants,…

An Australian man whose partner was accidentally refunded millions of dollars by Crypto.com has been jailed after embarking on a “flurry” of spending. Jatinder Singh, 39, has been sentenced to serve three years in jail by the County Court of Victoria after pleading guilty to the theft of $4.4 million, per reports in local news media. In May 2021, Singh tried to deposit AU$100 ($65) into his Crypto.com account back in May 2021 using the bank account of his partner Thevamanogari Manivel, 41. The crypto exchange rejected the deposit owing to the name discrepancy between the exchange and bank account,…