Author: NBTC

Bitcoin recent price slide could mean that the stock market’s benchmark index, the S&P 500, may be about to drop significantly as well, as the two assets often move in tandem as investors with greater risk appetite bet on both. According to Barry Bannister, managing, managing director and chief equity strategist at Stifel, Bitcoin’s recent losing streak that saw it plunge from around $65,000 to a low above the $53,000 mark before recovering may be a cause for concern. The cryptocurrency, down more than 23% from its all-time high, could signal a similar downturn for stocks, he argued, as the…

Four nominees for regulatory positions across the Biden administration were questioned in a Senate Banking Committee confirmation hearing on Thursday. Crypto only came up a few times, including in the questioning of the Securities and Exchange Commission’s Caroline Crenshaw on bitcoin trading products. Commissioner Caroline Crenshaw of the U.S. Securities and Exchange Commission (SEC) told senators on Thursday that rampant fraud in crypto markets left her unwilling to approve bitcoin exchange traded products earlier this year. In a nomination hearing before the Senate Banking Committee, Crenshaw and others seeking Senate confirmations defended their records. Crypto issues received only minimal attention,…

Jump Trading’s Tai Mo Shan says the FTX estate owes it $264 million over a loan involving 800 million SRM that Alameda never delivered. Lawyers for the estate say this claim is invalid because the loan was never initiated. The FTX bankruptcy estate is pushing back against a claim by Jump Trading’s subsidiary Tai Ho Shan, which asserts that Alameda didn’t deliver 800 million Serum (SRM) tokens and wants $264 million in damages, but Alameda says that the claim is invalid because the loan never commenced. SRM was the native token of the decentralized exchange (DEX) Serum. Jump Trading announced…

Iris Energy shares slumped 14% after a short seller said the company’s Childress site was unsuitable for hosting artificial intelligence or high-performance computing. Bernstein notes that the company never said it intended to retrofit the bitcoin mining site to AI. Iris Energy (IREN) shares fell almost 14% yesterday following the publication of a short-selling report by Culper Research that noted the unsuitability of the bitcoin miner’s Childress, Texas site for artificial intelligence (AI) or high-performance computing (HPC). The company, however, has committed most of the planned expansion at the site to bitcoin (BTC) mining, broker Bernstein said in a research…

Bitcoin (BTC) has been trying to recover in recent days, having experienced a sharp correction to $53,500 due to sell-off pressure from Mt.Gox and the German government. While investors who suffered great losses with the last correction now expect an increase, analysts and officials generally say that this correction is healthy. One of them was VanEck CEO Jan van Eck. Speaking to CNBC, VanEck CEO said that the recent Bitcoin correction is perfectly normal and that the fundamentals and factors for BTC’s rise still look strong. Arguing that it is completely normal for BTC to experience corrections during the bull…

A federal judge encouraged Coinbase to drop – or at least substantially modify – its efforts to subpoena U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler’s personal communications during a hearing Thursday. Judge Katherine Polk Failla, of the District Court for the Southern District of New York, scheduled a hearing on short notice Thursday after SEC attorneys asked her to block a Coinbase subpoena last month directed at Gensler. The judge said she was “actually quite surprised by the request” made to Gensler in his personal capacity at the start of the hearing. Near the end, after both parties…

Bitcoin Policy UK, a crypto advocacy group in the United Kingdom, has urged the new administration to consider Bitcoin mining to bolster the country’s renewable energy grid. Bitcoin mining involves creating new bitcoins by solving complex math problems that verify transactions. A KPMG report stated that Bitcoin mining helps to stabilize power grids and utilizes underused renewable energy sources. Notably, this view is similar to that of Pablo Vegas, the CEO of the Electricity Reliability Council of Texas (ERCOT), who recently suggested that Bitcoin miners can help enhance the state’s grid stability. Why Bitcoin mining In the report, Bitcoin Policy…

The bullish prospects for Bitcoin (BTC) could rise if the flagship crypto asset manages to climb back above a key resistance level, according to an analyst and trader. The analyst pseudonymously known as DonAlt tells 61,400 subscribers of the TechnicalRoundup YouTube channel that Bitcoin re-entering the range between $60,000 to $70,000 would provide a “really really good setup” for more upside. “There is some hope in the form of we’re just going to reclaim the range… and that would mean closing back above $60,000, $61,000 that would be good right like if it can make it above here [$60,000].” Bitcoin…

Over the past few years, the market for non-fungible tokens (NFTs) has gone through quite a journey – from initial global frenzy to a more stable yet somewhat subdued phase. In 2021, NFTs first grabbed the world’s attention, creating waves in news headlines and cryptocurrency markets alike. Despite a cooling-off period in 2023, NFTs continue to drive significant trading activity, with sales consistently hitting the million-dollar mark. As of July 4, 2024, CoinMarketCap reported that the NFT market capitalization had surged past $3.697 billion. Some NFTs have fetched astonishing prices, making them some of the priciest digital assets ever sold.…

WadzPay’s Jason Sarria-Solis shares bullish future expectations in an exclusive interview. He delves into what to expect next for the project’s stablecoin venture. Analysts expect the project’s steady success to reflect on WTK price soon. WadzPay’s Stablecoin plan involves a ground-breaking approach to digital payments and an exclusive interview with Jason Sarria-Solis reveals a lot more. In detail, the President of Emerging & New Business at WadzPay shares exclusive insights to Coingape. Uncover WadzPay’s ground-breaking approach to digital payments, leveraging comprehensive blockchain solutions.Our ‘Stablecoin as a Service’ and ‘Stablecoin’ solutions will offer digital currency, effortless cross-border transactions, asset tokenization and…