Author: NBTC

Texas recently revised estimates of how much capacity its grid will need, citing demand from AI and bitcoin mining. The political climate towards these two industries is souring because of increased energy demands, while Trump is doubling down on his support for mining. Texas’ grid will soon need to dramatically expand to meet growing demand from bitcoin miners and artificial intelligence data centers, while the political climate towards both these industries may be souring. Speaking to the Texas Senate Business and Commerce Committee Wednesday, Pablo Vegas, the CEO of the Electric Reliability Council of Texas (ERCOT), which manages the state’s…

Video game retailer GameStop saw a considerable rebound on Wednesday, closing up 22.8% after experiencing two consecutive days of significant losses. That followed last week’s spike amid the latest return of influencer Roaring Kitty (aka Keith Gill). After a challenging start to the week, GameStop’s stock plummeted by more than 8% in early Tuesday trading. However, by the end of the day, it had surged, marking an impressive turnaround. This recovery can be attributed to several factors, including completing a major share offering and shifting market sentiment. Meanwhile, Roaring Kitty continued to poke fun at himself and the ongoing developments,…

MANTRA launches a new incubator in Dubai World Trade Center to advance Real World Asset tokenization, backed by an $11M funding round. The post MANTRA debuts incubator with $100,000 grant at Dubai World Trade Center appeared first on Crypto Briefing. MANTRA has unveiled its latest incubation program at the Dubai World Trade Center, following a successful $11 million funding round spearheaded by Shorooq Partners. The initiative aims to bolster the real-world assets (RWA) tokenization sector, particularly within the Middle East and North Africa (MENA) region, and includes the collaboration of Virtuzone, the United Arab Emirates’ premier corporate service provider. “We…

Thailand’s Securities and Exchange Commission (SEC) has approved the launch of the nation’s first spot Bitcoin exchange-traded fund (ETF), One Asset Management (ONEAM) announced. This move positions ONEAM at the forefront of offering the “ONE Bitcoin ETF Fund of Funds Unhedged and not for Retail Investors” (ONE-BTCETFOF-UI), specifically tailored for wealthy and institutional investors. According to local reports, the inaugural fund is slated for distribution from May 31 to June 6, bearing an investment risk level of eight. The fund will allocate investments across 11 leading global funds. These funds adhere to stringent international storage standards and have undergone rigorous…

Singaporean authorities have intensified scrutiny of family offices and hedge funds in a move to protect individuals from money laundering and terrorist financing risks. Authorities have tightened regulations and investment regimes since March, following a series of criminal cases. One accused in a S$3 billion ($2.2 billion USD) money laundering case was reportedly linked to a family office that received tax exemptions, according to a Bloomberg report. As authorities launch new strategies to address the challenges of foreign wealth inflows, Richard Crowley, Assistant Professor of Accounting at Singapore Management University, stated: “Having more (and ideally more varied) data helps with…

Blur, the decentralized marketplace for non-fungible tokens (NFTs), continued its scheduled token unlock program in the early hours of Tuesday, April 16, 2024. In a post on X, Spot On Chain, the leading crypto analytics platform, noted that the NFT marketplace released 34.42 million BLUR, equivalent to $15.29 million, into the cryptocurrency ecosystem. 34.42M $BLUR ($15.29M) was unlocked from the lockup contract 2hrs ago and will soon be moved to #Coinbase for distribution.In total, 655M $BLUR (now $259M), or 21.8% of the total supply, have been unlocked since Jun 2023.The $BLUR price has dropped ~41% since the last unlock… https://t.co/yOrJaOFCus…

In 2023, Binance generated revenues exceeding $20 billion in Nigeria; however, the company has not paid taxes, a government minister disclosed. The Nigerian official also seemed to refute U.S. lawmakers’ claims that Tigran Gambaryan, an imprisoned Binance executive, is being held hostage by his government. Tigran Gambaryan Detained on Allegations of Contributing to Naira Depreciation The global cryptocurrency exchange Binance reported a turnover exceeding $20 billion in Nigeria for 2023, yet it failed to pay taxes, according to the country’s information minister. The minister, Mohammed Idris, also maintained that Tigran Gambaryan, the imprisoned Binance executive, is being detained for his…

Bitcoin (BTC) long-term holders have resumed accumulating, signaling a shift in market dynamics, according to the latest “Bitfinex Alpha” report. Bitfinex’s analysts indicate that the selling pressure from these investors has subsided, with a noticeable uptick in buying activity. Image: Bitfinex/CryptoQuant This change comes after Bitcoin reached a new all-time high of $73,666 in March, followed by a significant sell-off from long-term holders (LTHs). The sell-off led to an increase in supply on the open market, causing a period of price correction and consolidation. However, the trend appears to have reversed, with LTHs beginning to re-accumulate Bitcoin for the first…

An employee of South Korea’s Woori Bank has confessed to the police of embezzling $7.3 million from the bank to fund personal crypto investments, most of which failed. According to reports from local news outlets, the employee who has not been named visited the West Gimhae Police Station in South Gyeongsang Province on June 10 to reveal the extent of their crimes. Investigators have revealed that the employee in their thirties had invested the stolen funds in crypto ventures, trying to make personal gains for himself. Unfortunately, however, most of those investments failed, resulting in him losing $4.35 million from…

Shiba Inu’s layer-2 blockchain, Shibarium, has soared to impressive heights, nearing the one million transaction mark in a monumental surge. Shibariumscan data reveals a staggering 228.5% increase in transaction volume within a 24-hour period, culminating in a colossal 958,440 transactions. This remarkable milestone eclipses previous records set by Shibarium, with the last comparable feat recorded on March 16, boasting 1.04 million transactions. The surge in transaction activity on Shibarium has also triggered a substantial uptick in transaction fees denominated in BONE, a vital token within the Shiba Inu ecosystem. From a modest collection of 10 BONE on April 10, fees…