Author: NBTC

Key Points: To address the sybil problem thoroughly, the LayerZero sybil check can take up to two months. LayerZero partners with blockchain analytics firm Nansen to refine AI detection methods for future airdrops, including one from their partner zkSync. Co-founder and CEO of LayerZero Bryan Pellegrino expressed his hope that he will have an additional two months to complete the LayerZero sybil check. LayerZero Sybil Check Is Thoroughly Conducted Although he is certain they may receive additional airdrops, he had to give up on analyzing certain very evident huge sybil clusters with thousands of addresses owing to time constraints. These…

Leading crypto payments company Ripple submits a supplemental authority in its ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC). The new filing relates to the latest court decision in the SEC v. Binance lawsuit, in which the court denied and granted in part the exchange’s motion to dismiss the SEC’s charges that certain digital asset sales constitute investment contracts. Binance Judge Observation The payments company pointed out that the Binance judge followed the summary judgment reasoning in the SEC v. Ripple case, applying the decision to the secondary market sales of BNB, one of the assets at issue.…

Helius Labs CEO Mert Mumtaz recently set crypto Twitter ablaze with a series of tweets about Solana’s new ZK compression technology. His take on this tech advancement has got the crypto community talking. Unpacking Mumtaz’s Crypto Tweets thanks a lot for nuking my entire net-worth, zk compression disgusting evil technology that should have never been created pic.twitter.com/YLk0z4dZZ1 — mert | helius | hSOL (@0xMert_) July 4, 2024 In his tweets, Mumtaz jokingly blamed ZK Compression for some pretty dramatic effects. He stated that ZK compression was nuking his entire net worth. He also called it a disgusting, evil technology and…

Bitcoin’s price could reach $74,000 in the coming weeks amid softer U.S. inflation figures and institutional demand, which favors riskier assets. Large asset managers like Millennium and Schonfeld have invested in bitcoin spot ETFs, indicating growing institutional interest. Selling pressure from short-term is easing, some on-chain analysts said in a Thursday report. Bullish sentiment for riskier assets following soft inflation figures could propel bitcoin (BTC) prices toward the $74,000 mark in the coming days as institutional demand continues to grow, Singapore-based QCP Capital said in a note early Thursday. The softer-than-expected U.S. Consumer Price Index (CPI) rose 0.3% versus 0.4%…

Pendle, a DeFi protocol at the forefront of tokenization, has seen its Total Value Locked (TVL) nearly halved since mid-June, as the broader crypto market faces a sustained period of volatility and investor caution. The downward spiral began June 27th, and since then, the values have been on a steady decline. According to DefiLama, Pandle’s TVL is currently $3.49 billion, down almost 50% from the all-time high of $6.721 billion on June 10. The highest TVL is on the Ethereum chain ($3.1 billion), followed by Arbitrum ($273.4 million) and Mantle ($114.63 million). As per @ai_9684xtpa, a crypto and DeFi enthusiast…

As Bitcoin drops for the fourth consecutive day, non-fungible tokens (NFTs), once thought to be dead, have surprisingly had their best quarter since early 2023. Non-fungible tokens (NFTs) witnessed their best quarter in Q2 as the sector of digital collectibles saw a 28% increase in sales count, reaching levels last seen in Q1 2023. In a recent research report, analysts at DappRadar revealed that NFTs recorded $4 billion in trading volume in Q2, marking a 3.7% increase compared to Q4 2023. According to DappRadar’s blockchain analyst Sara Gherghelas, Blur remains the dominant force with 31% market dominance, though the platform…

In a notable advancement for Ethereum staking, Lido has announced the launch of the Community Staking Module (CSM) testnet, a significant step in its mission to democratize and decentralize Ethereum staking. This new initiative is designed to open up staking opportunities to a broader audience, initially targeting early adopters and soon, all node operators by mid-July. The move is aimed at enhancing the robustness and inclusivity of the Ethereum staking landscape. The CSM testnet operates under Lido’s directive to provide a more accessible staking model compared to traditional solo staking methods. By reducing the required amount of ETH, Lido is…

Hashnote Harbor will enable yields of up to 40% thanks to a suite of derivative strategies. Participants can also request customized structures to target specific yields or create bespoke hedges for their assets. U.S.-regulated cryptocurrency custody firm Anchorage Digital is offering clients yields of up to 40% in partnership with Hashnote, a digital asset manager built with the support of trading giants Cumberland and DRW. Hashnote Harbor, announced on Monday by the companies, delivers those returns through a suite of derivatives strategies without the underlying assets ever leaving the custody of Anchorage Digital, according to a press release. Participants can…

A new report by crypto exchange Bybit shows that meme coins are becoming significant components of crypto portfolios. Institutional meme coin holdings surged 226% from February to March while retail meme coin holdings spiked 478% from February to April. However, they “aggressively sold off” their meme coins when market sentiment soured. ‘We Saw a Large Jump in Institutional Memecoin Allocations From February to March’ A new report by crypto exchange Bybit, titled “Beyond the Hype: The Realities of Institutional Memecoin Investments,” highlights the growing interest in meme coins among institutional and retail investors. The report covers data from January 1…

Afghanistan’s government, under the Taliban’s control, arrested eight cryptocurrency traders in Herat, a city on the Northwest side of the country. One of the crypto traders who prefers to stay anonymous told crypto.news that the Taliban arrested him and seven others for using crypto in May. They were imprisoned for 28 days in Herat’s central prison, he added. It’s important to note that the Central Bank of Afghanistan banned using cryptocurrencies in August 2022 — closing more than 30 crypto-related businesses in the region. The government called digital currencies and Forex trading “haram,” an Arabic term used for forbidden things…