Author: NBTC

JPMorgan Chase is already hearing from US lawmakers after declaring it may soon impose unprecedented fees on its 80 million-plus customers. In a letter to the banking giant obtained by Fortune, Democratic Senators Elizabeth Warren and Chris Van Hollen blast the bank’s flirtations with fee hikes, including charges for basic checking accounts and services. “Will JPMorgan Chase reduce its stock buybacks instead of imposing new fees on its customers? Will JPMorgan Chase reduce executive pay instead of imposing new fees on its customers? JPMorgan Chase’s potential imposition of new costs on its customers in response to legal and long-overdue efforts…

Despite Bitcoin price struggling to break higher since the latest rejection from the $70k mark, the vast majority of BTC holders are still profitable. Although MicroStrategy purchased 11,931 BTC worth $786 million using the proceeds from a recent convertible notes offering, the slight uptick in Bitcoin price to above $65,000 has ended with the flagship cryptocurrency back under $64,000. Despite this, data from IntoTheBlock shows 87% of BTC holders are still in profit. Most holders are above water having acquired BTC at average prices that are relatively lower compared to current level. On-chain data shows 46.72 million addresses are currently…

The US SEC has recently concluded a settlement with Ideanomics Inc. over fraudulent reporting of cryptocurrency revenue. Ideanomics faced allegations of inflating its crypto revenue reports by $40 million. Significant penalties were imposed, including a ten-year ban for the company’s CEO and substantial monetary fines. This article covers the SEC’s settlement with Ideanomics, detailing the penalties and implications of the fraudulent crypto revenue reporting. US SEC Settles Fraud Charges with Ideanomics The United States Securities and Exchange Commission (SEC) has successfully settled charges against Ideanomics Inc. for fraudulent financial reporting, specifically involving cryptocurrency revenue. The firm and its former executives…

Bitcoin’s (BTC) slow bleed lower over the past weeks has sped up Friday, the price dipping more than 3% in the past 24 hours to slide to about a five-week low of $63,700, now lower by 9% over the past month. Contrarian bulls, however, might take comfort as indicators tracked by analysis firm Santiment show that crowd sentiment for BTC is now in its fourth week of “extreme negative” reading. “The crowd is mainly fearful or disinterested toward Bitcoin,” the firm said in an X post Friday. “This extended level of FUD is rare, as traders continue to capitulate,” they…

Recent data from Santiment shows a notable shift in the Shiba Inu (SHIB) market, with whale behavior indicating a change. Thus, over the past month, the 150 largest nonexchange SHIB wallets have added 6.57 trillion more coins, while the top 150 exchange wallets have reduced their holdings by 5.53 trillion coins. This withdrawal of SHIB tokens from exchanges by large holders suggests increasing confidence among nonexchange whales, who are growing their Shiba Inu holdings as exchange whales decrease theirs. This trend is viewed positively by the community, as it may strengthen overall market sentiment and reduce the risk of sudden…

Tyler Winklevoss, co-founder of the Gemini crypto exchange, expressed bewilderment over US Vice President Kamala Harris’ absence from a crucial crypto roundtable meeting held on Aug. 8. The virtual meeting, attended by high-ranking government officials and industry leaders, was seen as pivotal for shaping the future of crypto regulation in the US. Winklevoss questioned Harris’ decision to skip the virtual event in a social media post on Aug. 9, saying: “All she needed was an internet connection,” The remark was pointed, given the accessibility of the event and the mounting expectations for Harris to clarify her stance on crypto as…

Following the latest difficulty change 11 days ago when the metric increased by 10.5%, Bitcoin’s difficulty is estimated to shift downward between 4% to 5.3% on Aug. 14. Bitcoin’s All-Time High Difficulty Faces Estimated Reduction Bitcoin miners may get some relief in three days when the difficulty retarget shifts following the largest difficulty rise so far this year. Around 11 days ago at block height 854,784, Bitcoin’s difficulty jumped 10.5% higher after block intervals were completed faster than the ten-minute average during the past 2,016 blocks. The difficulty rose to an all-time high that day on July 31 with the…

Traditional financial institutions are increasingly showing interest in venturing into the crypto sector amid growing client demand. In this line, banking giant Standard Chartered is particularly expanding its crypto involvement by planning to offer spot trading services for Bitcoin (BTC) and Ethereum (ETH), Bloomberg reported on June 21. This move will make Standard Chartered, which controls over 800 billion in assets, the first major global bank to establish a spot crypto trading desk. Bloomberg, citing individuals familiar with the matter, noted that the bank will incorporate trading into its FX unit, which will have operations based in London. “We have…

Joshua Jake, the co-founder of OmniSwapAi, boldly warns crypto market participants to distance themselves from XRP, the seventh biggest crypto, describing it as trash. In a recent post on X, Jake stirred emotions by branding XRP as a worthless crypto to hold. The commentary quickly attracted significant reactions, particularly from passionate holders who felt targeted. $XRP is trash, Stop holding it. — Joshua Jake (@itzjoshuajake) July 10, 2024 Community Reacts Some accused Jake of being financed by the Bitcoin maximalists to disparage XRP. Others claim he lacks proper education about XRP and urge him to buy Ethereum and leave XRP.…

On August 9, 2024, Celsius Network Limited, acting through the Blockchain Recovery Investment Consortium, LLC, filed suit against Tether Limited, and certain of its affiliates, in the United States Bankruptcy Court for the Southern District of New York. This baseless lawsuit against Tether proves the adage that “no good deed goes unpunished.” The claims arise out of a 2022 agreement under which Tether made USD₮ available to Celsius, in amounts that Celsius requested at the time. Under the agreement, Celsius posted bitcoin (BTC) to Tether as collateral. As the price of BTC began to fall in June 2022, the agreement…