Author: NBTC

Hex Trust says it has received in-principle approval from the Monetary Authority of Singapore for a Major Payment Institution License. This has been a multi-year process for the custodian, but will be well worth it as regulation is the future, its CEO Alessio Quaglini said in an interview. Crypto custodian Hex Trust announced on Wednesday that it has received in-principle approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution license. Major Payment Institution licenses allow firms in Singapore to conduct multiple payment services and deal with Digital Payment Tokens (DPTs). The licensing regime was created under…

Joana Cotar, an independent member of the Bundestag, has urged the government to stop its Bitcoin selling spree. Cotar has informed Michael Kretschmer, one of the deputy chairs of the CDU, Christian Lindner, the Federal Minister of Finance, as well as Chancellor Olaf Scholz that this is “counterproductive.” She has invited them to her lecture with Bitcoin evangelist Samson Mow that is scheduled to take place on Oct. 17. In her letter, the MP argues that the largest cryptocurrency offers “a unique opportunity” for asset diversification. It is capable of mitigating risks that are related to having excessive exposure to…

Ethereum ETFs made a remarkable debut today, marking a significant milestone for digital assets in traditional financial markets. The launch saw nine different spot Ethereum exchange-traded funds (ETFs) from eight issuers begin trading on U.S. exchanges. This event turned the usually calm ETF trading landscape into a bustling marketplace. Impressive Start for Ethereum ETFs The excitement began right from the opening bell. Within the first 15 minutes, Ethereum ETFs amassed $112 million in trading volume. By the 90-minute mark, this figure had surged to $361 million. Bloomberg senior ETF analyst Eric Balchunas shared these figures, noting that this initial volume…

BitVM brought fresh impetus to Bitcoin layer-2 initiatives that seek to introduce greater utility to the network. The investment led by trillion-dollar asset manager Franklin Templeton suggests the TradFi world is taking notice as well. Bitcoin layer-2 blockchain Bitlayer Labs said it raised $11 million in a Series A funding round at a valuation of $300 million. The investment was led by ABCDE and Franklin Templeton, one of the issuers of a spot bitcoin (BTC) exchange-traded fund in the U.S. The involvement of Franklin Templeton, a trillion-dollar asset manager, suggests the traditional finance (TradFi) world is taking notice of developments…

Upland gaming platform is launching its new utility token, $SPARKLET, on Ethereum today. This initiative will boost its innovative gaming platform. The token will be listed on exchanges starting at 1 pm UTC. $SPARKLET will enhance interactions within Upland’s virtual world. It will also support various activities such as NFT creation and platform development. The aim is to build a lively and sustainable ecosystem. 63% of $SPARKLET Supply to be Locked for Community It has been planned to distribute a significant amount of $SPARKLET through airdrops. Further 0.75% will be distributed via the Bitget Launchpool. A total of 63% of…

Ethereum co-founder Steven Nerayoff has filed a lawsuit seeking $10 million from a crypto analyst who accused him of being an extortionist and government plant that aided an assassination attempt against him. Nerayoff filed the defamation lawsuit in a New York District court yesterday against crypto analyst Truth Labs, real name Tyler Fayard. He claims Fayard made multiple false allegations against him, calling him a criminal and ‘inhumane fraud’ on X (formerly Twitter) over the past few months. In one instance Fayard implied Nerayoff had taken part in an assassination attempt against him during a running race. Fayard posted, “Two…

Defunct crypto exchange Mt. Gox moved billions of dollars worth of bitcoin between wallets and sent $130 million to Bitstamp. The cryptocurrency movements echo those of yesterday as Mt. Gox repays customers hit by a hack 10 years ago. Payments started early this month and Mt. Gox still has more than $6 billion of BTC to distribute. Defunct bitcoin {{BTC}} exchange Mt. Gox moved a fresh batch of the asset to new wallets on Wednesday, tempering chances of a price rally as sentiment remained dented. Arkham data shows Mt. Gox moved 37,400 BTC, worth $2.5 billion, from its main wallet…

Bitcoin (BTC) briefly lost its 200-day exponential moving average (EMA 200) this Thursday, which is considered very important support for BTC by traders. Despite the brief loss of this fundamental price level, the analyst who identifies himself as Altcoin Sherpa told his followers to “don’t freak out” as it is “quite common for the EMA 200 “to get lost for a bit.” $BTC: The moment of truth time is around here. 200d EMA being tested for the first time in months + range low. It’s likely that we see some sort of bounce around here down to 56k. Expecting a…

Ethereum ETFs are all the rage today in crypto markets, having already posted nearly hundreds of millions in flows within hours of their launch. By the end of the US trading day, the new funds had hit $1 billion in trading volume, per Bitwise Chief Investment Officer Matt Hougan. Though, as Blockworks’ Ben Strack noted in the On the Margin newsletter earlier Tuesday, the volumes don’t show the net flows for the funds just yet. Crypto markets seem to be digesting the news, with the total market cap dipping 2.2% to $2.5 trillion in the past day. Read more: 9…

Citi upgraded Coinbase to buy from neutral and raised its price target to $345 from $260. The crypto exchange could benefit from an improving regulatory regime in the U.S., the report said. Coinbase could also profit from a U.S. crypto catchup, the bank said. Crypto exchange Coinbase (COIN) is likely to benefit from an improving regulatory regime in the U.S. after the presidential election in November and the Supreme Court’s overturning of the Chevron precedent, Citi (C) said in a research report on Tuesday upgrading the shares. Citi raised Coinbase to buy from neutral and increased its price target to…