Author: NBTC

Ethereum is primed to mount a comeback against Bitcoin this month after underperforming its sibling cryptocurrency since the start of the year, according to K33 Research. On the one hand, the leading smart contract platform is poised to receive its first US-listed spot exchange-traded fund (ETF) in July, inviting a tidal wave of new institutional demand into ETH. Meanwhile, Bitcoin holders are awaiting a 141,686 BTC ($8.8 billion) distribution from defunct Bitcoin exchange Mt. Gox—a looming tsunami of potential sell pressure now ten years in the making. “The chickens of 2014 have come home to roost,” wrote K33 Research in…

BlackRock, the world’s largest asset manager, has just launched an ETF that offers 100% downside protection to investors. The new ETF (MAXJ) will have its maximum gains capped at 10.6% while protecting against the downside for a duration of 12 months. At a time when interest rates are high, presidential elections around the corner and a lot of uncertainty with regards to the economy, the 100% downside hedge ETF provides investors a way to benefit from the market rally without any downside. Rachel Aguirre, the head of US iShares product at BlackRock had this to say about the new ETF:…

Both SocialTensor and NicheTensor have been working on enabling the mass adoption of decentralized artificial intelligence (AI) tailored to individual needs. The new entity formed after the subnet merger will operate under the name SocialTensor. The integration of the two entities will strengthen the Bittensor ecosystem as an AI hub. SocialTensor, a web3 platform focused on developing realistic decentralized artificial intelligence infrastructure, has announced the first subnet merger on the Bittensor (TAO) blockchain with NicheTensor, an image and text generation platform. According to the announcement, the subnet merger on the Bittensor network will result in a new entity dubbed SocialTensor,…

Turkey’s Bitcoin (BTC) and cryptocurrency law came into force after being published in the Official Gazette on July 2. While it remains unclear how the provisions in this cryptocurrency law will affect the market, Turkish users and stock exchanges operating in Turkey, a statement came from TÜBİTAK after the CMB. Because according to this law, TÜBİTAK also has some duties. Stating that TÜBİTAK was given important duties in the status of technical consultancy in the bill regarding crypto assets accepted in the Turkish Grand National Assembly, TÜBİTAK said that all approval and decision authority belongs to the Capital Markets Board…

Galaxy Digital head of asset management Steve Kurz said the SEC could approve a spot Ethereum ETF before the end of July and described prospects for other crypto ETFs. On July 2, Kurz told Bloomberg that he expects approvals in “weeks, not days” and within the month. Kurz said Galaxy has worked with the SEC on applications for months and noted the firm’s upcoming spot Ethereum ETF is similar to its existing spot Bitcoin ETF (BTCO). Galaxy created both funds in partnership with the investment management firm Invesco. Kurz said: “We know the plumbing, we know the process… The SEC…

Kenyans are turning to crypto to make ends meet in the face of widespread unemployment and distrust of President William Ruto. As nationwide protests continue, sources in Kenya told Decrypt youth in the country long to break free of the financial system now more than ever—and many of them believe creating a crypto wallet is the first step. In an attempt to reduce the country’s debt, the Kenyan government sought to raise money through taxes. This included new levies on basic items such as a 16% sales tax on bread and a 25% tax on vegetable oil. An “eco levy”…

FLOKI celebrates setting up a new ATH at $0.0003412. The altcoin is now in the price discovery phase along with BNB and BTC. This could be another sign to support that the long-awaited altseason has arrived. FLOKI celebrates setting a new all-time high (ATH) along with Binance’s native token BNB. FLOKI’s new ATH stands at $0.0003412 setting a new standard for the altcoin as it enters price discovery range with BNB by its side. $FLOKIDon’t need a fancy chart here – just look at FLOKI zoomed out.– Retesting its 2021 ATH.– Clean HTF cup & handle– BNB is on the…

A federal court has ordered Jafia LLC and its owner, Sam Ikkurty, to pay nearly $84 million to crypto investors after ruling that the firm operated a Ponzi-like scheme. The judgment, issued by Judge Mary Rowland in the US District Court for the Northern District of Illinois, follows a lawsuit brought by the Commodity Futures Trading Commission (CFTC) in 2022 after the fund’s collapse. Judge Rowland found that Ikkurty, based in Portland, Oregon, made numerous false claims about his firm’s hedge funds. These included misleading statements about his trading experience and the promise of high, stable profits. Instead, Ikkurty used…

Crypto markets rallied yesterday after U.S. inflation data came in lower than expected, sparking a revival in the buying sentiment.soared past $66,000 for the first time since April 24 and has increased by more than 6% in the past 24 hours. As the market recovers from the recent low, there might be a surge in altcoins prices. Analysts believe that Bitcoin’s recent breakout has revived market confidence and investors might soon switch their focus toward altcoins. BTC Price Sets Eye On ATH The Bitcoin rally followed the release of April’s U.S. Consumer Price Index (CPI) figures, which showed a slight…

Ethereum (ETH) price has encountered a setback after briefly surpassing the $3,500 mark on Monday, dropping once again to the $3,400 support level on Tuesday. The delay stems from the expected full approval by the SEC for Ethereum ETF applications, which have now been postponed to July 8. SEC Requests Revised Filings Analysts had initially anticipated approval by July 2, but the SEC has requested issuers to submit revised filings by July 8. Bloomberg ETF expert Erich Balchunas shared on social media that the SEC took additional time to provide feedback, resulting in a revised timeline. Balchunas stated: Unfort think…