Author: NBTC

In May, the crypto industry saw significant events related to regulatory clarity in the US. President Joe Biden’s administration has dramatically shifted its crypto stance within a month. Initially resistant to crypto, the administration recently took several pro-crypto actions, signaling a significant policy change. This article explores the events and motivations behind this surprising transition, including political pressures and legislative developments. Passage of Crypto-Focused Bills On May 16, the US Senate voted to pass H.J. Res 109, a resolution to overturn the Securities and Exchange Commission’s (SEC) controversial Staff Accounting Bulletin No. 121 (SAB 121). Introduced in March 2022, SAB…

Bybit, a major international crypto exchange, has announced a strategic partnership with digital asset custodian Copper. The aim is to reduce the settlement cycle for digital asset trades from four to just two hours through the latest ClearLoop. Reduced settlement times translate to minimized risk exposure and improved capital efficiency, fortifying overall security, enhanced by Copper’s custody. Two-hour settlements occur 24/7, which fosters operational efficiency. Eugene Cheung, Head of Institutions at Bybit, highlights the improvement that will allow for transparent and more accurate recordkeeping and a clearer view of institutional balance: “Bybit is thrilled to be the pioneer partner to…

Bitcoin (BTC) will be ‘halved’ in mid-April 2024 – a four-year event that slashes Bitcoin mining rewards in half. That said, validating Bitcoin transactions get 6.25 BTC at present, which would go down to 3.125 BTC post halving. The reward for mining a block of transactions started at 50 Bitcoins in 2009, dropping to 25 in 2012 and 12.5 in 2016. As a result, the ‘halving’ event creates practical difficulties for miners when half their income suddenly vanishes. With the imminent Bitcoin halving setting up the grand chess game in the markets, “sentiments are bullish in the long term,” says…

The launch of spot Ethereum ETF will potentially result in a supply crunch upon launch, crypto accounting software firm Integral on June 3. The projection mirrors the sentiment around spot Bitcoin ETFs before their launch earlier this year. The ETFs connected to the flagship crypto have since experienced record inflows, with the BTC supply on centralized exchanges falling notably in tandem. Ethereum supply crunch Integral anticipates that ETF issuers will buy and hold large amounts of ETH, thereby removing a portion of ETH from the open markets and driving up the crypto’s price. The trend is arguably already underway. Integral…

Omni has launched the first phase of its mainnet, dubbed “Omni Armageddon.” This marks a significant milestone in the platform’s evolution, encapsulating years of concerted effort by Omni’s team to develop a robust solution for interoperability across different blockchain systems. This launch is a critical step towards creating a cohesive environment for various blockchain rollups, enhancing user experience and liquidity. Omni Armageddon is live!Phase 1 of mainnet means users can now delegate on EigenLayer to help secure Omni.This launch is the culmination of years of work developing a secure solution for fragmentation across rollups and marks a pivotal step in…

Crypto exchange Binance today (Wednesday) sought to dismiss a large portion of a London lawsuit, valued at up to 10 billion pounds ($12.8 billion), over allegations of collusion to “delist” the Bitcoin Satoshi Vision (BSV) cryptocurrency. The lawsuit, brought to London’s Competition Appeal Tribunal (CAT) on behalf of over 200,000 BSV owners, targets Binance and other exchanges including Kraken. The suit, filed by BSV Claims, accuses the exchanges of anti-competitive behaviour in delisting BSV in 2019. The plaintiffs argue that this action caused the value of BSV to drop significantly and hindered its potential to become a leading cryptocurrency, estimating…

Today, Bitcoin seems particularly fit on the graphic front: BTC marks a +4.40% and approaches to set a new ATH in view of the implementation of the halving for the cryptographic protocol. The bullish breakout of the symmetrical triangle could push the cryptocurrency prices around $80,000. Meanwhile, derivative market data gives hope that Bitcoin could explode in a short time: the open interest on BTC has returned above 20 billion dollars.Let’s see all the details below. Bitcoin (BTC) breaks out to the upside the symmetrical triangle on the daily time frame and aims for a new ATH Euphoria returns also…

Bitcoin layer-2 solution Stacks initiated the rollout of its Nakamoto upgrade shortly after the halving last Friday. This significant development is designed to enhance transaction throughput and unlock Bitcoin finality for layer-2 transactions. The Nakamoto upgrade aims to enable faster block processing and ensure all settlements are finalized on the layer-1. This will allow Bitcoin to remain secure while being programmable, similar to Ethereum and Solana Virtual Machines. Muneeb Ali, the co-founder of Stacks, told Blockworks that the Nakamoto upgrade and the general growth of Bitcoin layer-2 infrastructure may revive interest in the Bitcoin blockchain itself. Read more: Bitcoin’s block…

Main Takeaways New stablecoin rules imposed by the EU’s Markets in Crypto-Assets (MiCA) framework are coming into effect from June 30, 2024, impacting the stablecoin and wider digital-asset market throughout the European Economic Area (EEA). This blog describes Binance’s approach to complying with the new rules. Binance will restrict the availability of Unauthorized Stablecoins for EEA users, implementing phased changes and product restrictions to ensure compliance and minimize market disruption. Binance’s approach aims to fulfill MiCA objectives smoothly by transitioning users from Unauthorized Stablecoins to Regulated Stablecoins over time, as more Regulated Stablecoins become available in the market. On June…

Despite Ryan Salame pleading guilty to conspiracy to make unlawful political contributions and conspiracy to operate an unlicensed money transmitter, you wouldn’t be able to tell from his presence on X (formerly Twitter). The former co-CEO of FTX Digital Markets is begging to be interviewed, providing political commentary, stating he’s ready to release a memoir, and denying much of his role at FTX and Alameda (despite his guilty plea). Salame insists that there’s much more to the FTX and Alameda sagas, but hasn’t clarified what new information he has to provide and no one has publicly stated that they’ll be…