Author: NBTC

The UK High Court has granted Peter McCormack a Worldwide Freezing Order (WFO) against Craig Wright. This decision, handed down by Mr. Justice Mellor, follows a series of legal battles between the two parties, primarily revolving around Wright’s defamation claim against McCormack. The WFO granted to McCormack is intended to prevent Wright from dissipating his assets to avoid paying the substantial legal costs McCormack incurred while defending against the defamation claim. The order covers a sum of £1.548 million, which includes costs already awarded to McCormack and additional expenses related to Wright’s fraudulent conduct during the defamation proceedings. The defamation…

The FTX customer repayment saga continues to unfold, with a recent update from crypto influencer MartyParty catching the attention of his 96.9K followers. FTX Creditors will receive $14b-$16b in cash in October through November and will buy back in. Bullish. @FTX_Official #FTX pic.twitter.com/cfBYLjykci — MartyParty (@martypartymusic) July 9, 2024 Earlier today, he revealed that FTX creditors are expected to receive a cash payout of $14 billion to $16 billion in October and November. While the platform plans to buy back the funds, MartyParty sees this as a positive sign for the crypto market, citing it as a “bullish” indicator. Since…

The financial world prefers quarterly reviews. But US spot bitcoin ETFs have been alive for one-third of a year, and now seems as good a time as any for a look back. The sample size captures bitcoin hitting a new all-time high and seeing some corrections since the Jan. 11 ETF launches. Oh yeah, and adding a fourth month captures the demand (or lack thereof) for bitcoin ETFs after per-block rewards for mining the asset were cut in half last month. One headline number: US spot bitcoin ETFs have notched net inflows of about $11.7 billion. Another noteworthy stat: Those…

Token unlock involves releasing tokens that were previously blocked under fundraising terms. Projects carefully schedule these releases to avoid market pressure and prevent a drop in token prices. However, factors like lack of liquidity or early investor profit-taking can significantly impact an asset’s dynamics. While next week lacks massive token unlocks, these three events are still worth keeping an eye on. Liquity (LQTY) Unlock date: June 5 Number of tokens unlocked: 657,350 LQTY Current circulating supply: 96,08 million LQTY Liquity is a decentralized borrowing protocol that allows users to take out loans against Ethereum with 0% interest. It operates through…

Key Points: Two former Northern Data executives accuse the company of financial misrepresentation and tax evasion. Northern Data allegedly faces severe financial instability and potential insolvency. Former Northern Data executives claim they were fired for exposing the company’s financial and tax issues. According to the Financial Times, two former Northern Data executives have accused German-listed cryptocurrency and AI infrastructure company of fraud. Former Northern Data Executives Accuse Bitcoin Mining Company of Fraud The Bitcoin mining company, backed by Tether, is facing allegations of financial misrepresentation and tax evasion. The claims were brought forward by Joshua Porter and Gulsen Kama, who…

DBS, the biggest bank in Singapore, has seen trading volume on its digital exchange skyrocket this year. The value of digital payment tokens traded on DBS Digital Exchange in the first five months of 2024 tripled over the same period in 2023, in Singapore dollar terms, according to a press release shared with Decrypt. The number of active trading clients on the exchange grew by over a third (36%), while digital assets held by the platform were up 80% over the same period last year. With professional investors “increasingly viewing digital assets as a legitimate part of their alternative portfolios,”…

Bracebridge Capital, a little-known hedge fund in Boston, has emerged as one of the largest holders of spot Bitcoin ETFs, holding hundreds of millions of dollars worth of the assets in total—including the largest individual tallies in the BlackRock and Ark Invest/21 Shares ETFs. “They went wild, basically,” wrote Bloomberg ETF Analyst Eric Balchunas in a post on Twitter (aka X), pointing to the firm’s $363 million in Bitcoin exposure across ETFs issued by BlackRock ($81 million), Grayscale ($20 million), and Ark Invest/21Shares ($262 million). Excluding market makers and so-called authorized participants, which play a key part maintaining accurate prices…

Ripple’s XRP token has experienced substantial activity over the past 24 hours, drawing attention from the crypto community. Blockchain tracker Whale Alert reported the transfer of 3 billion XRP tokens, valued at approximately $1.5 billion, in several transactions. This large-scale movement has sparked concerns about potential price impact. Ripple Escrow Activities Triggers Market Concerns Typically, Ripple releases around 1 billion XRP tokens from its escrow wallet at the beginning of each month. However, this month’s unusual asset movements have surprised the community, leading to various speculations about these transactions. Crypto commentator Marty Party noted that the 3 billion tokens represented…

At the close of one of the most unprecedented weeks in the modern history of the American presidency, the crypto industry appears in reach of an unexpected victory: President Joe Biden, whose administration has been widely criticized as hostile to crypto, now faces a massive wave of pressure to drop out of the 2024 presidential election due to concerns about his age and cognitive abilities. If such a scenario were actually to unfold, though—if Biden were to drop out of the race, or even resign from the presidency—would crypto still be stuck with its perceived arch-nemesis, U.S. Securities and Exchange…

Feeling bearish on crypto? There’s now an ETF to short Coinbase (COIN)—the premiere U.S. exchange platform viewed as an index for the entire industry’s success. Set to launch on Wednesday, the YieldMax Short COIN Option Income Strategy ETF is designed to “seek inverse (opposite) exposure to the share price of the common stock of Coinbase Global,” subject to certain limits on investment gains, according to its summary prospectus. YieldMax is an asset management company whose products purchase options contracts based on an underlying security. As if to mock crypto, the Coinbase-focused ETF will trade on NYSE Arca under the “FIAT”…