Author: NBTC

The Financial Innovation and Technology for the 21st Century Act would hurt investors and hamper the U.S. Securities and Exchange Commission’s work, SEC Chair Gary Gensler said Wednesday. “The Financial Innovation and Technology for the 21st Century Act (‘FIT 21’) would create new regulatory gaps and undermine decades of precedent regarding the oversight of investment contracts, putting investors and capital markets at immeasurable risk,” he said. FIT21 is a joint bill produced by the House Agriculture Committee and the House Financial Services Committee, and is intended to clarify how the SEC and Commodity Futures Trading Commission (CFTC) oversee crypto. It…

The Bitcoin halving, a technical event that occurs on the Bitcoin network every four years and reduces the cryptocurrency supply in half, is scheduled to occur in around three days. Oklink, a blockchain explorer, indicates that the countdown is 3 days and 15 hours as of press time, with an estimated date of April 20 and 526 remaining blocks. The halving cuts Bitcoin miners’ earnings by half, as stipulated by the Bitcoin blockchain code, and is slated to occur every 210,000 blocks. This time, mining rewards will be halved from 6.25 BTC to 3.125 BTC. With only a few days…

Ethereum (ETH) has seen its price slip in the past few hours, compounding the marketwide losses it has recorded in the past 24 hours. Within this period, several batches of Ethereum were moved in and out of top trading platforms, which suggests that a major sell-off might be underway. Ethereum whales acting ahead of ETF decision According to data from crypto analytics provider Whale Alert, about 142,177 ETH have moved in and out of trading platforms, wallets and custody service engines in 24 hours. One of the smallest amounts recorded on-chain features 6,455 ETH worth $24,109,913 sent from an unknown…

Bitcoin Depot, the largest Bitcoin ATM operator in the United States, has reported robust revenues despite the highly volatile nature of cryptocurrency prices. In its recently filed 10-K annual report on April 15, the company revealed that its revenues in 2023 and 2022 amounted to $689 million and $647 million, respectively, showing no significant correlation with Bitcoin’s price fluctuations. Bitcoin Depot Reports Resilient Revenue Amid Bitcoin Price Volatility Despite cryptocurrency prices’ rollercoaster ride, Bitcoin Depot has weathered the storm with no significant impact on its revenues. Even during extreme volatility in Bitcoin prices, Bitcoin Depot’s revenues remained steady and unaffected.…

Issuers hoping to launch spot ether ETFs are making clear to the Securities and Exchange Commission that they would not stake ETH held by the funds. Staking ether involves depositing ETH to help secure the Ethereum blockchain — and earning yield in exchange. Tuesday filings by Cboe — the exchange that seeks to list spot ether ETFs by Fidelity, Franklin Templeton, Ark Invest, Invesco and VanEck — indicate that this possibility would be off the table for such funds, if approved. “Neither the trust, nor the sponsor, nor the custodian, nor any other person associated with the trust will, directly…

Shiba Inu has the potential to soar to greater heights if a SHIB ETF product captures 30% of the spot Bitcoin ETF inflows following an approval. The cryptocurrency market is fast appealing to TradFi investors, evidenced by the massive adoption of the spot Bitcoin ETF products months after their launch. Amid the success of the Bitcoin ETFs, industry commentators have evaluated the likelihood of asset managers launching ETFs tracking other crypto assets. Leading asset management firms such as BlackRock and Fidelity Investments have turned their eyes on Ethereum, but the chances of approval of these Ethereum-based products grow slimmer by…

The White House is against the U.S. House of Representatives passing a crypto market structure bill, but the president isn’t threatening to veto it. U.S President Joe Biden’s White House published a statement of administrative policy Wednesday saying the administration opposed the passage of the Financial Innovation and Technology for the 21st Century Act, citing concerns over a lack of investor protections should it make its way through Congress. “The Administration is eager to work with Congress to ensure a comprehensive and balanced regulatory framework for digital assets, building on existing authorities, which will promote the responsible development of digital…

While Bitcoin and altcoins are trying to combat the declines experienced in recent days, the countdown has begun for the highly anticipated BTC halving. At this point, while investors were wondering whether there would be a new wave of decline in BTC and altcoins, a new report came from Bitfinex analysts. Analysts pointed out that long-term investors’ Bitcoin supply on the exchanges fell to the lowest levels in 18 months, and stated that this showed that long-term owners either continued to reduce their assets or removed their assets from the stock market. “The basis for Bitcoin price dynamics is this…

Mike Winkelmann sank into the sofa as three cameras recorded his meltdown. The dueling identities that had once structured his life were coming into conflict as his fortunes increased by the second. Unseen crypto billionaires were bidding for his soul, or at least it felt that way. His entire artistic career was being auctioned as a compilation of five thousand digital artworks, packaged by the Christie’s auctioneers as a single non-fungible token (NFT). The winner would receive this NFT as an online certificate of ownership, a deed to 14 years inside Winkelmann’s mind. It was surreal watching his own coronation…

Exchanges experienced a net inflow of 62,000 ETH ($231 million) this week, suggesting a period of volatility is coming. Daily spot buying from ETH permanent holders hit its highest level in 2024 this week. A significant price correction is expected if a spot ether ETF is delayed or denied due to high levels of open interest. Ether (ETH) is expected to experience a period of volatility this week due to exchange inflows spiking to the highest level since March, according to a report by data provider CryptoQuant. The daily net flow of ETH, which tracks inflows and outflows to exchanges,…