Author: NBTC

RiskLayer, a protocol developed by economic risk management firm Chainrisk Labs, has announced the completion of a pre-seed funding round. The project aims to build decentralized finance (DeFi) security middleware on EigenLayer. The funding round, termed a “Builders Round,” was co-led by Antler and Momentum6, with participation from Wagmi Ventures, Hypotenuse ventures, and several angel investors. The amount raised was not disclosed. RiskLayer proposes to develop two Actively Validated Services (AVS) on EigenLayer to address DeFi economic security concerns. The first, Risk Oracle AVS, aims to provide DeFi risk data using a “proof of risk” consensus. The second, Risk Rollup…

The area around the bullish trendline served as an accumulation zone in 2019-20. A widely-tracked momentum indicator suggests downtrend exhaustion. Ether’s {{ETH}} bitcoin {{BTC}}-denominated market price, the ETH/BTC ratio, is flirting with a bullish trendline drawn from 2016 and 2017 lows, offering hope to bulls on the second-largest cryptocurrency by market cap. Since January, the trendline has consistently restricted the pair’s downside in a pattern reminiscent of 2019-20. Back then, it served as an accumulation zone, eventually leading to a renewed bull market in the first half of 2021, as shown by a chart sourced from TradingView. A monthly chart…

The U.S. federal government’s deficit has ballooned to $1.27 trillion in the fiscal year ending in June, driven largely by surging interest payments on the nation’s mounting debt, the Treasury Department recently revealed. Despite record-high receipts of $466 billion in June, the government still ran a deficit of $66 billion for the month, as Bloomberg reported. While this marked a slight improvement over the same period last year, it underscored the growing strain on public finances. Adjusting for calendar differences, the month’s shortfall was just $5 billion smaller than in June of last year, while the year-to-date deficit fell slightly…

Billy Markus, one of the Dogecoin (DOGE) founders, recently addressed the speculation about the SEC possibly approving a Dogecoin ETF. This speculation has grown following the approval of Bitcoin and Ethereum ETFs, leading many to ponder which cryptocurrency might be next. Markus seems to downplay these rumors, suggesting they are not particularly likely to him. Although DOGE began as a meme coin, it has achieved widespread acceptance over the past decade. Numerous businesses now accept it as a payment method, maintaining its market presence. Dogecoin’s classification as a nonsecurity positions it well for an ETF. Earlier this year, the CFTC…

Crypto exchange Coinbase filed a motion to compel the Securities and Exchange Commission to produce internal communications on its discussions about crypto, including the messages of Chair Gary Gensler. The company backed off from a more aggressive earlier effort to seek Gensler’s communications, having demanded documents from before he started work at the agency. Coinbase Inc. (COIN) is going after internal chatter at the U.S. Securities and Exchange Commission (SEC) that may shed light on its pursuit of cryptocurrency exchanges as illegal enterprises – including Chair Gary Gensler’s own communications – but the scope of its latest request filed on…

Bitcoin price failed to start a recovery wave above the $61,500 resistance zone. BTC started another decline and might dive toward $55,000. Bitcoin started a fresh decline and traded below the $58,500 zone. The price is trading below $60,000 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance at $58,350 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might struggle to start a fresh increase above the $60,000 resistance zone. Bitcoin Price Extends Losses Bitcoin price struggled to start a decent recovery wave above the $61,500…

Following the spot Bitcoin ETFs launched in January, spot Ethereum ETFs were also opened for trading yesterday, July 23. Ethereum ETFs also got off to a flawless start, with an inflow of $107 million, although not as much as BTC. We have entered a new era with Ethereum ETFs! While this success of ETH ETFs was appreciated by the market, Bitwise CIO Matt Hougan said that spot Ethereum ETFs marked the beginning of a new era for crypto investment. Stating that a new era has entered crypto ETFs with ETH, Matt Hougan argued that there may be more than one…

The crypto industry has witnessed the rise of several novel technological breakthroughs over the last couple of years, with one of the most important of these innovations being the advent of ‘market makers.’ From the outside looking in, these digital entities ensure that there’s always a buyer for every seller and vice versa, facilitating smooth transactions and reducing price volatility. Moreover, they provide essential liquidity and contribute to the overall health and efficiency of the digital asset market. In this listicle, we will spell out the top 5 market makers available for mainstream crypto users. So, without any further ado,…

Lido DAO (LDO) has seen its token price surge following the release of its Validator and Node Operator Metrics (VaNOM) report for Q1 2024. At the time of writing, LDO was trading at $2.35, reflecting a 10% rise over the past 24 hours. The market cap of LDO exceeded $2 billion, and the 24-hour trading volume reached $474 million, marking a 148% increase. LDO 24-hour price chart | Source: CoinMarketCap The VaNOM report, published on May 23, highlighted a shift in client diversity, especially at the execution level. The usage rate of the client Geth dropped to 46%, a significant…

Senator Cynthia Lummis (R-WY) said the Biden administration’s to impose a 30% tax on Bitcoin miners is a “dangerous scheme” and an “attack on innovation.” She argued that such a high tax rate would stifle innovation and push mining operations overseas, undermining both economic and national security interests. She made the statement in a July 23 social media post, announcing she had published an “orange paper” to refute Biden’s “disastrous proposal.” The paper — titled “The Future of Bitcoin Mining: Strategic Considerations for the US“— provides an in-depth analysis of the economic, environmental, and regulatory aspects of Bitcoin mining. Lummis…