Author: NBTC

Decentralized lending protocol Echelon has raised $3.5 million in a seed funding round led by Amber Group, with backing from several crypto venture capital firms. The platform plans to use the funding to promote the decentralized finance ecosystem, according to details in a press release on Aug. 27. Echelon will utilize the seed funding to expand its product offerings, grow its team, and implement a treasury, cross-chain vaults, and real-world asset-backed strategies. You might also like: Aptos reveals $10m ecosystem growth fund with support from OKX Ventures Eyeing DeFi across Move-based ecosystem Echelon offers a money market platform for borrowing…

Tech billionaire Peter Thiel is outlining a number of concrete steps that the US government can take to reduce its huge budget deficit. In a new interview on the Joe Rogan Experience podcast, Thiel takes aim at the government’s habit of spending way more than it makes. According to the billionaire, the amount of taxpayer dollars going to interest payments on the country’s over $35 trillion national debt has gone up significantly. “We have a crazy, crazy budget deficit and presumably, you have to do one of three things: you have to raise taxes a lot, you have to cut…

One of Joe Biden’s allies says the President is questioning whether to abandon his 2024 re-election hopes after a poor debate performance last week, according to a report in The New York Times on Wednesday. Hours later, Biden told supporters on a campaign call that he’s not leaving. “I am running…no one’s pushing me out,” he said. “I’m in this race to the end and we’re going to win.” The political drama has sparked even more volatility in political meme coins. Following the Times report, the Biden-inspired Jeo Boden (BODEN) token had collapsed 38% within 24 hours, and 72% on…

A federal judge ruled that the Securities and Exchange Commission had brought plausible allegations against crypto exchange Kraken, meaning its lawsuit will proceed to trial. The SEC sued Kraken last year, alleging the exchange failed to register as a broker, exchange or clearinghouse. The U.S. Securities and Exchange Commission’s (SEC) lawsuit against Kraken will proceed to trial, a California judge ruled Friday. The SEC sued Kraken in the Northern District of California last November, alleging that the crypto exchange had violated federal securities laws by failing to register with the agency as a broker, clearinghouse or exchange. The complaint requested…

Delysium, the prominent AI-focused blockchain platform, has recently announced a collaboration with Worldcoin. The partnership between Delysium and Worldcoin specifically denotes a mutual vision of strengthening the crypto community in the swiftly evolving AI world. The platform took to its official X account to provide the details of the respective endeavor. Thrilled to have key @worldcoin contributors joining the @The_Delysium side-events at @kbwofficial. United by a vision of working together to provide the tools necessary to help every human thrive in the age of AI. Exciting times ahead! pic.twitter.com/Lw9YWUJ33I — Delysium – $AGI 🟨 (@The_Delysium) August 21, 2024 Delysium and…

Bitcoin might be on the brink of a critical and exceedingly unstable move. As the charts uncover, an enormous divider of orders worth more than $80 million is nearing liquidation, possibly clearing the way for Bitcoin to break definitively over the $60,000 level. This seems to check the conclusion of the repressed exchange that has characterized the market recently. The liquidation heatmap appears to be a basic zone around $60,000, where overwhelming buying and selling weight is focalizing. Once this boundary is overcome, it seems to lead to a price cost surge. This kind of setup frequently comes about in…

Maker, which just rebranded to Sky, announced a new version of its $5 billion stablecoin DAI but crypto enthusiasts weren’t impressed. The new token called USDS apparently has a piece of code that would allow the issuer to remotely freeze the asset, observers pointed out. The feature exists in the largest stablecoins of centralized issuers like Circle’s USDC and Tether’s USDT. They often freeze assets linked to illegal activities at the request of government authorities, like Tether did last week by aiding the U.S. Department of Justice in the seizure of $5 million of USDT for fraud victims. However, the…

The cost of transferring ether has dropped to as low as 2.6 Gwei as of mid-2024, thus lowering the overall transaction fees. New network improvements and decreased overall transaction rate are the main reasons for lower Ethereum gas fees and cheaper transactions. Currently, only 9.8% of the Ethereum supply is held at centralized exchanges, which may point towards a possible supply-side shock and, therefore, a bullish market sentiment. The cost of sending transactions on the Ethereum network has slashed to its lowest in mid-2024, opening up more room for cheaper transfers. Glassnode data reveals that the average gas price has…

Thousands of crypto traders have apparently been sucked in by yet another fake news report about US presidential candidate Kamala Harris. This time, they thought she endorsed a new tax on unrealized gains that would affect millions of crypto investors. Misreading little more than a headline from news snippet accounts like WallStreetBets or WatcherGuru, incensed readers decried the US presidential candidate supposedly wanting to tax unrealized capital gains at 44.6%. Somehow, they believed, Harris wants to force crypto holders to sell off roughly half of their portfolio and mail the proceeds straight to the IRS. However, exactly like the ‘news’…

Cryptocurrency analysis company Santiment discussed two cryptocurrencies that it claimed were experiencing “FUD” intensity in its post. According to the analytics company, fear is in the air and traders are talking about two cryptocurrencies: Bitcoin (BTC) and Bittensor (TAO). According to analysts, Bittensor is experiencing FUD and has seen a loss in value due to the security vulnerability that led to the theft of a total of $8 million worth of TAO from cryptocurrency users’ wallets. On the other hand, for Bitcoin, a brief drop below $60,000 on its chart led traders to talk about worrying trends and sell their…