Author: NBTC

Shytoshi Kusama was quick to clarify a misleading comment from K9 Finance’s co-founder that the gaming sensation Shiba Eternity was part of the K9 ecosystem. Pseudonymous Shiba Inu lead developer Shytoshi Kusama has clarified that Shiba Eternity is not part of the K9 ecosystem. Kusama responded to a tweet by K9 Finance’s co-founder, Buzz, who made a comment in that regard. Buzz quoted a tweet by Seizan Shib, a K9 community member who was organizing a live stream for K9 Finance DAO’s Bonecrusher Testnet. The Bonecrusher Testnet was a session highlighting the progress of K9 Finance DAO’s liquid staking project,…

Court filings by the US Attorney’s office related to former FTX Digital Markets CEO Ryan Salame reveal that the government discussed additional areas of potential criminal exposure with his lawyers including his alleged involvement in a bribery scheme in the Bahamas, “evidence of distribution quantities narcotics trafficking,” and “paying for prostitutes.” This filing was one of several exhibits included with a memorandum in opposition to Salame’s previously withdrawn petition for a writ of error coram nobis. Salame had filed his motion to argue that the government had provided “assurance that it would not continue investigating Michelle Bond if Salame pleaded…

Spot Bitcoin (BTC) exchange-traded funds (ETF) registered $45 million in inflows on Aug. 7, according to Farside Investors. As a result, Bloomberg senior ETF analyst Eric Balchunas highlighted how surprised he is with the funds’ holders during the recent pullbacks. “I’m bullish as it gets re ETF investors’ intestinal fortitude (in all asset classes) but even I’m surprised here. I was expecting 2-3% of the aum to leave and declare that as ‘strong’,” stated Balchunas on an X (formerly Twitter) post. He also highlighted the fact that BlackRock’s IBIT registered no outflows since Monday, although the fund traded $5 billion…

Alongside many other altcoins, ETH’s price continues to struggle, and its future now hinges on some critical support levels. If these key levels fail to hold, ETH could face a prolonged bearish period. Recent price action has shown that Ethereum (ETH) could be on the verge of bidding farewell to this cycle, which many have tagged as the enduring phase of the bull market. Ethereum Is About to Lose the Battle Six months ago, Ethereum’s Market Value to Realized Value (MVRV) Long/Short Difference hit a yearly high of 55%. This on-chain indicator is key during bull markets, as it reveals…

Shibarium has continued to lose its edge as a competitive layer-2 scaling solution on Ethereum. Current data from Shibariumscam shows that the protocol’s daily transaction count was 4,002 as of Aug. 26. This is a troubling fall from the more than 28,600 transactions recorded on Aug. 20. Shibarium losing its edge What works for Shibarium now remains to be seen, as its core metrics fluctuate widely. While the transaction count has hovered from a low of 1,850 per day to this peak of 28,600, the impact of this consistency on the network is telling. Shiba Inu still ultimately depends on…

The South African government is tightening its grip on cryptocurrency trading. Tax authorities (SARS) are issuing tax notices and clarifying regulations, likely using AI to identify non-compliant traders. The central bank meanwhile has clarified rules for crypto purchases, allowing individuals limited investment but restricting companies. SARS Using AI to Track Down Tax Dodgers South African Revenue Services (SARS) has reportedly intensified its focus on crypto traders. The agency is issuing tax notices and clarifying exchange control regulations. According to a report, SARS is basing these actions on information obtained from crypto exchanges. This approach represents an escalation in SARS’s efforts…

Bitcoin’s recent price recovery, which followed a sharp correction earlier this week, has been fueled primarily by institutional investors, according to JPMorgan analysts. Bitcoin is Supported by Institutional Investors, According to JPMorgan Analysts Despite the significant decline of over 15% on Monday, institutional interest in Bitcoin futures remains strong and minimal risk mitigation is observed. On Monday, cryptocurrency markets suffered their steepest decline since the FTX crisis, with Bitcoin’s price falling more than 15% before rebounding. JPMorgan analysts, led by managing director Nikolaos Panigirtzoglou, attributed this recovery to continued support from institutional investors. The published report highlighted that these investors…

Whales and institutions have dumped over 63,538 ETH worth $141.7 million on Binance and Kraken. ETH could fall by 30% to the $1,500 level if it fails to hold this support level. ETH’s RSI has formed a bullish divergence, indicating a potential trend reversal from a downtrend to an uptrend. Ethereum (ETH) is facing significant selling pressure from whales and institutions, signaling a potential major price drop. On September 7, 2024, the overall cryptocurrency market experienced a notable price decline including Bitcoin (BTC) and Ethereum (ETH) resulting in continuous sell-offs by whales and institutions. Whales and Institution Offloads $141M of…

The XRP community recently unearthed details on the collaboration of Nium, a rival to Ripple in cross-border payment, with J.P. Morgan for FX solution. Singapore-based fintech Nium excels in enabling seamless real-time cross-border payments for financial institutions globally. Its network spans 220+ markets and supports transactions in 100 currencies. However, before achieving this level of reach, Nium faced significant challenges, particularly in Asia. Details of Nium Alliance with J.P. Morgan In particular, Asia Pacific’s diverse financial regulations and dynamic compliance requirements posed substantial hurdles to Nium’s expansion efforts. As a result, Nium would have to navigate complex and sometimes conflicting…

Federal prosecutors have fired back against Ryan Salame’s allegations that they reneged on agreements made in the former FTX executive’s plea deal – namely, that they would cease criminal investigations into Michelle Bond, Salame’s longtime partner and the mother of his child. But prosecutors say they never made Salame any such promises, either formally or informally, and that their prosecution of Bond is fair game. In a scathing 32-page memorandum filed Thursday, prosecutors urged U.S. District Court Judge Lewis Kaplan of the Southern District of New York (SDNY) to reject Salame’s recent petition asking for the conditions of his plea…