Author: NBTC

Failed exchange FTX has settled with the Commodity Futures Trading Commission. As part of the deal, the company agreed to pay a $12.7 billion fine to the CFTC, court documents said. The deal also calls for $4 billion in restitution fees and $8.7 billion in damages, subject to court approval. The CFTC did not seek a civil penalty against FTX. According to the regulator’s representatives, given the guilty pleas and convictions of FTX insiders, the debtors already faced a very significant potential liability to the agency. The court will consider the settlement agreement on Aug. 6. If the deal is…

Chromia, an L1 relational blockchain forum that utilizes a modular agenda, has recently announced its plan for an exclusive launch. As per the platform, it intends to release the relational blockchain ecosystem called MVP Mainnet on July 16th to denote the local CHR token’s genesis. In addition to this, the endeavor will also strengthen the Chromia network’s foundations. Chromia Schedules July 16 as the Date for the Release of Its MVP Mainnet The company added that this will enable the bridging of the present CHR token to the MVP Mainnet. Previously, the issuance of the respective token was carried out…

Everyone in the crypto space is currently wondering if Bitcoin will go lower and, if so, how low it might go. Bitcoin has been stuck in a pattern and it dropped to about $56k over the weekend, trying to climb back up to $57k and beyond, but then it dipped again. Analyst Crypto Rus observed that in the chart, Bitcoin goes up a bit, then suddenly drops. The analyst also acknowledged the prevalent negativity and fear-mongering in the community, attributing it to the broader sentiment of uncertainty in volatile markets. Additionally, the market is awaiting developments related to Mt. Gox…

Ithaca Protocol, an innovative player in the crypto options market, has officially launched its live beta platform. Aiming to set a new standard in the industry, Ithaca is the brainchild of an ex-Goldman Sachs partner and a former Amber Group executive, with backing from prominent firms such as Cumberland and Wintermute Ventures. The protocol stands out as the first in the market to offer executable prices across a comprehensive range of financial products, including vanilla options, digital options, option strategies, forwards, and structured products. This extensive offering totals over 250 prices across various strikes and expiries. The key innovation of…

The European Union has published the final text of the Artificial Intelligence Act, outlining the critical deadlines for complying with the world’s first comprehensive AI rulebook. Following approval from the EU Council in May, the legislation will come into force on August 1, 2024. The AI Act aims to prevent threats from ‘high-risk’ AI to democracy, human rights, the environment, and the rule of law. However, Chinese companies anticipate spending more time and money to comply with the new AI regulations. Partick Tu, co-founder and CEO of Hong Kong-based Dayta AI, anticipates that his company’s costs will go up by…

Binance’s CEO, Richard Teng, spent time with the community on X Spaces on July 16, 2024, answering questions and celebrating Binance’s 7-year anniversary. Teng highlighted how Binance has come a long way from its inception in 2017, when crypto was thought broadly as a passing fad, to today when major cryptocurrency ETFs are gaining regulatory approval and massive inflows of capital. Binance continues its commitment to serve users by investing heavily in improving products and features, compliance, security and user protection, as well as working closely with regulators all over the world to be able to expand operations into new…

Nakamoto Games introduces the NAKAWallet — a multichain wallet integrated within Telegram for seamless crypto transactions. NAKAWallet supports various blockchains and features an integrated decentralized exchange. Nakamoto Games aims to revolutionize crypto accessibility for 1 billion Telegram users. Nakamoto Games is set to revolutionize the way users interact with cryptocurrencies on Telegram. Nakamoto Games aims to bring seamless financial transactions and decentralized exchange capabilities to over 1 billion Telegram users with the launch of NAKAWallet. As always, we’re going big. Bigger, better, $NAKA, that’s the spirit!This week, we’re dropping the prototype of https://t.co/05eTIk3Pg4. The #NAKAWallet will be the leading interoperable,…

Bitcoin price declined by over 12% in the last 7 days. BTC’s daily RSI at 30.36 underscores the asset’s current oversold condition. Bitcoin (BTC), the largest cryptocurrency by market cap, has continued to display its dismal price trends ever since the start of July. Following BTC’s price dip, the global crypto market shed over a hundred billion dollars, returning it to $2.05 trillion. Notably, over the last 24 hours, Bitcoin formed a low near $54,260 after observing a decline of 3.35%. The price seems to have entered a phase of consolidating losses. The decline and selling pressure were observed after…

Coinbase, Ripple, and Andreessen Horowitz (a16z) plan to send representatives to the Republican National Convention (RNC) and, later, the Democratic National Convention (DNC). On July 15, Politico said the firms would first “make their case to GOP power brokers” to support an election outcome that produces policies favorable to the industry, highlighting widespread Republican support for the crypto sector. Politico emphasized the growing importance of crypto, quoting Rep. Dusty Johnson (R-S.D.), who called crypto an “issue that more and more people are finding an interest in.” Attendance at the RNC and DNC represents each company’s continued commitment to bipartisan crypto…

This is yet another embarrassment for those overseeing the Mt. Gox bankruptcy, with one Reddit user quipping that the fright was karma for criticizing how incompetent the entire operation has been. It’s been a horrible 10 years for the early Bitcoiners who lost everything in the Mt. Gox hack — with 850,000 BTC stolen before their very eyes. After seemingly endless delays and disappointment, there is finally a glimmer of hope that they will soon receive some compensation from the doomed exchange, which tipped into bankruptcy. But as if creditors hadn’t suffered enough, there were fresh fears of a new…