Author: NBTC

Bybit confirmed several executives have “changed roles” following a delay in notcoin deposits earlier this month. The exchange issued $32 million in compensation to 320,000 users. Cryptocurrency exchange Bybit has confirmed reports that several executives have “changed roles” after a botched notcoin (NOT) launch resulted in $23 million in compensation being sent to 320,000 users. News outlet Wu Blockchain initially reported that several of the exchange’s executives “voluntarily resigned” and that it has recruited new technical and spot managers. “We are aware of the recent news regarding our executive movements,” a Bybit spokesperson told CoinDesk. “Bybit regularly updates its organizational…

Alchemy Pay, the global leader and pioneer in cryptocurrencies has partnered with Another-1, a Web3 phygital fashion platform on Polygon. It will empower users with an innovative experience of buying physical-digital blended fashion collections at significantly discounted prices. Such collaboration permits users to mint and purchase phygital assets via Alchemy Pay NFT Checkout solution which enables payments in fiat currencies. .#AlchemyPay now supports users to purchase physical-digital blended fashion collections on @another1_io platform using its NFT Checkout solution, enabling direct acquisition of these phygital assets with fiat payments.https://t.co/PdK8zNN9ox$ACH pic.twitter.com/TbN294RJ5G — Alchemy Pay|$ACH: Fiat-Crypto Payment Gateway (@AlchemyPay) May 31, 2024 Alchemy…

Bitcoin (BTC) is back trading in the $69,000 price range, slightly below the psychological level of $70,000. On a volatile day, cryptocurrency traders look for insights on relevant support and resistance levels for the week. One way of spotting these key levels is by using on-chain data to identify price ranges with potential buying or selling pressure. In particular, IntoTheBlock provides data on the Bitcoin volume that is “in or out of the money,” on April 10. For example, the 614,250 BTC kept by 1.14 million addresses can form support between $66,555 and $68,585, averaging $67,578 per Bitcoin. This is…

Welcome to the On the Margin Newsletter, brought to you by Ben Strack, Casey Wagner and Felix Jauvin. Here’s what you’ll find in today’s edition: The latest movement in the ether ETF saga after initial SEC approvals, and what needs to happen before the products hit your brokerage account A potential stand-off is brewing after Riot Platforms’ “hostile bid” to acquire Bitfarms A look ahead at what Congress is up to and whether or not the new crypto bills will actually make it to the President’s desk $19,925,658,064 That’s the assets under management in BlackRock’s iShares Bitcoin Trust (IBIT) as…

Ripple CTO David Schwartz recently addressed concerns regarding the potential impact of Ripple’s upcoming stablecoin on the use of XRP as a bridge currency for ODL. Recall that the San Francisco-based blockchain payments firm recently announced plans to launch a new stablecoin on the XRP Ledger (XRPL) and Ethereum networks. While the general reaction to this announcement has been bullish, some suggest Ripple could be pivoting away from XRP. Growing Concerns and Speculations These mixed sentiments have led to discussions around the potential impact of the stablecoin on XRP’s utility. The latest discourse ignited when an XRP community member sought…

U.S. President Joe Biden has vetoed a bill aimed at overturning a Securities and Exchange Commission (SEC) bulletin that sets accounting standards for firms that custody cryptocurrency. In an official letter dated May 31, Biden stated, “This reversal of the considered judgment of SEC staff in this way risks undercutting the SEC’s broader authorities regarding accounting practices.” The bill sought to repeal the SEC’s cryptocurrency accounting guidelines, which require institutions holding crypto assets to record them as liabilities on their balance sheets. “My Administration will not support measures that jeopardize the well-being of consumers and investors,” Biden added. “Appropriate guardrails…

In a significant move for cryptocurrency investors, Coinbase has announced the delisting of Enjin Coin (ENJ), a popular altcoin, effective mid-next month. This decision is anticipated to impact a considerable number of ENJ investors, given the altcoin’s significant user base. The announcement came unexpectedly, marking a noteworthy moment amid a market uptrend. Contents hide 1 Why Was Enjin Coin Delisted? 2 Which Other Altcoins Are at Risk? 3 Key Takeaways for Investors Why Was Enjin Coin Delisted? Delisting an altcoin refers to the suspension of its trading services on an exchange. Although exchanges frequently list new altcoins, delisting occurs less…

DN-404 is an experimental Ethereum token standard designed to address the limitations of its predecessor, ERC-404, by enhancing tokenized assets’ efficiency, scalability, and interoperability. DN-404, short for “Divisible NFT-404,” was developed by blockchain engineers and industry experts to improve the ERC-404 standard. ERC-404 aimed to integrate ERC-20 fungible tokens and ERC-721 NFTs to facilitate the fractionalization of NFTs. However, ERC-404 faced significant challenges, including increased Ethereum transaction fees and limited scalability, which hindered its practical application. DN-404 leverages innovative consensus mechanisms and smart contract protocols to enhance scalability within decentralized networks by improving transaction throughput and reducing costs. Additionally, the…

Private wealth management firm Wedmont Private Capital has acquired 3,471 shares of Fidelity Wise Origin Bitcoin Fund (FBTC) that are worth $209,336, according to a recent regulatory filing. Wedmount’s selling point is its flat fee of $10,000 which is supposed to set it apart from competitors that offer asset-based fees. According to its website, the firm is targeting high-net-worth individuals with more than $1 million worth of investable assets. The firm was co-founded by Dominic Corabi, a former executive at the Financial Advisor Services division of Vanguard, as well as James Pelletier, former vice president within the UHNW division of…

Six companies updated their spot Ethereum ETF S-1 registration statements on May 31, with 21 Shares notably dropping Ark Invest from its filing. The relevant filing renames the “Ark 21Shares Ethereum ETF” to the “21Shares Core Ethereum ETF.” It also removes all mention of Ark Invest from its text, whereas previous submissions described Ark Invest as the fund’s subadvisor. Ark Invest has not commented on the change. Other amendment details Bitwise, Fidelity, Invesco Galaxy, VanEck, and Franklin Templeton also filed amendments. Franklin Templeton’s amendment includes a 0.19% sponsor fee, making it the first issuer to list a percentage-based sponsor fee.…