Author: NBTC

XRP recently spiked by as much as 6% amid the market rebound, with the number of addresses holding at least 1 million tokens inching closer to a record high. The broader market resurgence has provided a platform on which several assets can stage a comeback. XRP is one such asset, having recently recovered from the drop to $0.4235. XRP’s move toward recouping the recent losses saw it rally to a high of $0.5303 on April 20, the day of the Bitcoin halving, before facing consolidation. XRP’s Recent Price Movements However, following a 0.91% drop the following day, XRP engineered a…

Bankrupt cryptocurrency exchange FTX might be able to settle a $24 million claim from the U.S. Internal Revenue Service (IRS) for $200 million. This settlement is still pending court approval, but would resolve one of the thornier disputes and bigger claims amounting to billions of dollars. FTX, once a prominent player in the cryptocurrency market, filed for Chapter 11 bankruptcy in November 2022 following a dramatic collapse. The company faced a liquidity crisis triggered by a surge in customer withdrawals and revelations of financial mismanagement. At its peak, FTX was the third-largest cryptocurrency exchange globally, but the fallout exposed a…

Figures reveal that over the preceding 72 hours, three bitcoin mining pools discovered more than 69% of the 436 blocks found during that period. Foundry USA and Antpool, two industry titans, command a formidable 55.5% of Bitcoin’s total computational power. Foundry Dominates Bitcoin Mining in 12-Month Period, Discovers 15,651 Blocks Out of 53,528 In the aftermath of the halving event, the concentration of bitcoin mining pools persists, with the total hashrate dipping below the 600 exahash per second (EH/s) threshold. Data compiled by btc.com reveals that Foundry’s mining pool, boasting 168.05 exahash per second (EH/s) of hashpower, secures a substantial…

While the leading cryptocurrency Bitcoin has been following a horizontal course in recent weeks, it has been oscillating between $ 67,000 and $ 68,000. While the overall upward expectation in the market continues, Coinshares published its weekly cryptocurrency report. Stating that there was an inflow of 185 million dollars in cryptocurrency investment products last week, Coinshares said that the inflows from the beginning of the year to date have exceeded the limit of 15 billion dollars. Sentiment on Ethereum (ETH) Has Changed! When looking at crypto funds individually, it was seen that the majority of fund inflows were in Bitcoin.…

The Stellar network recently morphed into a smart contract-enabled layer-one chain to support web3 project development. The Stellar ecosystem is backed by reputable web3 investors, thus bolstering the XLM’s bullish outlook. The Stellar (XLM) network has grown to a mature web3 ecosystem, with more than 81k onramp locations globally. Having issued more than 255 grants in the past two years, the Stellar network has attracted first-class web3 developers. Furthermore, the Stellar network is currently home to dozens of web3 protocols including ZettaBlock, Bank Protocol, Block Daemon, Allbridge, and Validation Cloud, among many others. As Crypto News Flash previously reported, the…

An upcoming House Appropriation budget could prevent the US SEC from implementing its controversial Staff Accounting Bulletin 121 (SAB 121). FOX Business reporter Eleanor Terrett, who reported the news on June 4, said the bill will prohibit the SEC from using appropriated funds to implement the rule. Appropriations allow agencies to incur obligations and make payments from the US Treasury for set purposes. One policy rider in the budget states: “Prohibits the SEC from implementing or enforcing Staff Accounting Bulletin No. 121, which implements harmful digital asset requirements.” It is unclear whether the budget will succeed in its current form.…

OneTo11, a blockchain gaming start-up, has announced its plans to expand its offerings to two crucial markets across the world – LATAM and MENA. It will do so by adding 3 new games to the portfolio with a tentative timeline of the next 12 months. Established in 2021, the blockchain gaming platform has been quick to grow with a broad user base of 4.5 million registered users and more than 7.3 lakh monthly active gamers. These are spread in 168 countries and fall within the age of 18-55 years. The company is additionally planning to develop educational technology products. These…

In a recent development surrounding the GameStop saga, Jim Cramer, popular financial commentator, backed Keith Gill, famously known as Roaring Kitty, amid talks of a potential investigation by the SEC. The trader, who shot to fame during the GameStop short squeeze in 2021, recently disclosed a staggering $180 million position in GME stock, comprising five million shares and 120,000 short calls. While the regulator has yet to raise any questions for Gill about the action, social media has begun to discuss how market manipulation litigation is possible, especially under the current SEC administration. Cramer, speaking on the legality of Gill’s…

The Shiba Inu ecosystem team has unveiled multiple avenues through which the SHIB Army can earn the upcoming TREAT token as efforts intensify around the ecosystem’s imminent layer-3 blockchain. Amid the recent discussions surrounding the forthcoming Shiba Inu L3 blockchain that would leverage the TREAT token, the Shiba Inu ecosystem team has provided additional details for the SHIB Army. How Shiba Inu Army Can Earn TREAT In a recent post on X, Shiba Inu’s content specialist Lucie reminded the SHIB Army that the idea of the TREAT token draws from the original vision of Shiba Inu’s pseudonymous founder, Ryoshi. Accordingly,…

The US Congress is preparing for two important hearings tomorrow that the crypto industry wouldn’t want to miss. First, the House Appropriations Subcommittee will mark up the Fiscal Year 2025 Financial Services and General Government Bill. One of the key points of discussion will be Staff Accounting Bulletin No. 121 (SAB 121), with the Securities and Exchange Commission (SEC) budget. This hearing will affect how the SEC can proceed with its regulatory actions regarding the crypto industry. Following shortly, the House Committee on Financial Services will hold a Republican-led Subcommittee on Digital Assets hearing. This session will discuss the Tokenization…