Author: NBTC

The U.S. Securities and Exchange Commission (SEC) announced in a press release today that Terraform Labs and its founder Do Kwon agreed to pay over $4.5 billion following a unanimous jury verdict. The verdict found them responsible for orchestrating a years-long fraud involving LUNA and UST crypto asset securities, resulting in massive investor losses when the scheme was unraveled. The nine-day jury trial in April revealed the extent of the defendants’ misuse of the Terraform blockchain to process transactions and deception about the stability of their crypto asset security, UST. Following the decoupling of UST from the US dollar in…

Gleb Kostarev and Vladimir Smerkis, seasoned executives from Binance, have launched Blum, a bold new venture in the cryptocurrency sector. Their extensive experience at one of the world’s leading cryptocurrency exchanges sets a robust foundation for their innovative new platform. From Binance to Blum Previously, Kostarev managed Binance’s operations across Eastern Europe, the Commonwealth of Independent States (CIS) and Turkey. At the same time, Smerkis held the position of general manager for the CIS region. Their combined expertise is now channeled into Blum, which is set to introduce groundbreaking changes to the crypto trading landscape. Blum is designed to revolutionize…

GameStop’s share price has been choppy early Friday after prominent trader Keith Gill, better known as Roaring Kitty or DeepFuckingValue, announced late Thursday that he had significantly increased his holdings in GME from 5 million shares to just over 9 million. In early trading Friday, GameStop’s stock has taken a 4% dip to $28.00, following Gill’s disclosure late Thursday afternoon. It was previously up as high as $30.26 shortly after trading opened. In a post on the Superstonk subreddit, Gill revealed that he had exercised some of his much-celebrated $20 call options, leading to a drop in his cash on…

OKX CEO Star Xu has questioned the growing criticism surrounding zkSync, a layer-2 scaling solution for Ethereum. Many have accused zkSync of being a “scam,” particularly in the wake of its recent airdrop. Xu, however, has raised the possibility that this backlash might stem from disappointment over the airdrop’s distribution. Why a lot of crypto influencers blame zksync as a scam? Is it because of the airdrop doesn’t meet the original community expectations? https://t.co/qimSoQ6efH — Star (@star_okx) June 15, 2024 The post on X (formerly Twitter) came in response to a message posted by influencer Sarkesh, a prominent voice on…

Federal prosecutors in Illinois have charged two men with owning and operating Empire Market, a darknet marketplace, according to court documents filed Friday. Prosecutors say Thomas Pavey, 38, of Florida, and Raheim Hamilton, 28, of Virginia, owned and operated Empire Market from 2018 to 2020. During the period Empire Market operated, prosecutors say the pair processed $430 million in transactions on the site, which allowed users to anonymously purchase illegal goods and services. According to a Thursday press release from the Department of Justice (DOJ), Empire Market was used to sell things like drugs and stolen credit card information. All…

Popular Indonesia trading platform Triv Exchange announces the listing of Bone ShibaSwap (BONE), the governance token of Shiba Inu’s decentralized exchange. Following the listing, Triv emphasized that users can deposit and withdraw BONE via the Ethereum network. Despite opening BONE deposits and withdrawals, the token has not commenced trading on the exchange in the hours leading up to press time. Also, Triv did not reveal when trading will officially begin. In addition to BONE, Triv added support for two other tokens, Bitget Wallet Token (BWB) and Bitget Token (BGB). In a follow-up post, the top Indonesian-based exchange also provided details…

Bitcoin (BTC) continues to cling to the $67,000 mark, with bears and bulls failing to push the maiden cryptocurrency’s price in either direction significantly. Amid the standoff, crypto trading expert TradingShot has pointed out that chart patterns indicate a possible explosive Bitcoin price breakout. In a TradingView post on May 31, the expert noted that Bitcoin is on the verge of completing the right shoulder of the inverse head and shoulders (IH&S) pattern, a bullish indicator that emerged following the cryptocurrency’s all-time high on March 14. The IH&S pattern, a well-known bullish reversal formation, suggests a shift from a downtrend…

The president of a multibillion-dollar investment firm says that the digital assets market still has a long way to run. In a new interview with Bloomberg, 21Shares co-founder and president Ophelia Snyder says that the crypto markets are still in their infancy despite having an overall market cap of $2.6 trillion. “[Our] short-term outlook is that we’re still really early, which is something I think people are forgetting right now [because] they’re seeing the massive assets coming into US products, some of the most successful ETF (exchange-traded fund) launches of all time… It’s still really early. Most institutions [are] still…

In a world where many cryptocurrency projects rely on artificial intelligence (AI), the growth of artificial intelligence has led to increased competition for processing chips. However, Coinbase research analysts David Duong and David Han predict that artificial intelligence and technology-driven efficiency gains will unexpectedly affect cryptocurrencies by reducing inflation. According to analysts, this decline could lead to lower interest rates and thus increase the appetite for riskier assets such as crypto. “We believe the disinflationary effects of AI and technology-driven productivity gains will continue their trend of moderating inflation throughout this year,” analysts said in a report published today. The…

The Zilliqa 2.0 whitepaper has just been released, revealing significant updates that aim to transform the network into a user-friendly, efficient blockchain. These enhancements position Zilliqa as a formidable force in the Web3 domain. introducing the Polygon Governance Hub — a unified & transparent interface for community governance, developed with @AragonProject.built hand-in-hand with the community, the hub marks the next chapter of Polygon governance and community ownership.more on what this means 🧵 pic.twitter.com/CrAg6QwKwG — Polygon | Aggregated (@0xPolygon) June 14, 2024 The introduction of X-shards represents a pivotal upgrade in Zilliqa’s sharding technology. This new structure allows for customizable blockchain…