Author: NBTC

In an interview with Ark’s Cathie Wood, Coinbase Founder and CEO Brian Armstrong shared his thoughts on some of the crucial things that are happening in crypto as well as some of the platform’s latest developments. The conversation took place at the State of Crypto Summit 2024. Layer 2 Armstrong emphasized the significance of the exchange’s layer-2 solution, Base, in advancing blockchain technology. He likened the transition from layer-1 to layer-2 networks to the shift from dial-up to broadband internet, emphasizing the improved speed and reduced costs. Layer 2 enables features like instant, free USD coin transfers globally, which revolutionize…

For the first time ever, the collective market capitalization of tokens on the Bitcoin-based Runes protocol has eclipsed $2 billion, further upending the narrative that the novel ecosystem for meme coins built on the Bitcoin network is dead on arrival. At writing, tokens on Runes possess a collective value of $2.06 billion, according to Bitcoin data analytics platform GeniiData. Just last week, that figure crossed $1 billion for the first time. The surge in value appears largely attributable to one Runes token in particular, DOG•GO•TO•THE•MOON (aka DOG). DOG has surged over 90% in the last week, to a price that…

Cryptocurrency exchange Traded Products (ETPs) continue to have a record-breaking 2024, according to latest research. New data, released this week by digital asset and fintech investment firm Fineqia International Inc (CSE: FNQ), showed that ETPs trading in digital assets reached a new all-time high in May 2024. The research, in which Fineqia studied 194 top international ETPs, showed that ETPs with digital assets as underlying collateral increased their total global Assets Under Management (AUM) to $95.4 billion in May – a new record amount. The total AUM recorded at the end of May represents a new all-time high for ETPs…

Core, a prominent player in the cryptocurrency space, has introduced an enticing incentive for BTCB token holders. From June 13th to July 23rd, participants can double their daily Spark accumulation through the Core Ignition Drop, offering a 2X Spark Multiplier. This move aims to energize the community’s engagement with decentralized applications (dApps) on the platform, enhancing the utility and value of holding BTCB. https://t.co/lDPDZF8dqJ — Core DAO 🔶 (@Coredao_Org) June 13, 2024 BTCB, a tokenized version of Bitcoin (BTC), operates within the BNB Smart Chain ecosystem. It’s designed to allow users the flexibility to utilize Bitcoin’s value in a more…

The Orissa High Court in India ruled that cryptocurrency dealings are not illegal under Indian law. This decision arose from a case involving individuals accused of fraud through a Ponzi scheme. Justice Sasikanta Mishra clarified that cryptocurrency is not considered money under the Prize Chits and Money Circulation Schemes (Banning) Act or a deposit under the Odisha Protection of Interests of Depositors Act, thus deeming mere cryptocurrency dealings not offenses under these laws. Dealing in Crypto ‘Cannot Be Treated as Illegal in Any Manner’ The Orissa High Court in India has issued a significant ruling clarifying the legal status of…

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. On the first Prime Day of 2023, Amazon facilitated the sale of 375 million items. Just one store, during one of its busiest days of the year, provides the ultimate convenience for its users—a testament to the decades of infrastructure development in web2. You might also like: Back to the drawing board: rethinking interoperability | Opinion Contrast this with the never-ending possibilities of a unified web3 ecosystem, which, although spoken of widely, seems increasingly challenging to achieve,…

New data from market intelligence platform Santiment reveals that one Bitcoin (BTC) indicator that has historically predicted price rallies is flashing a bullish signal. In a new post on the social media platform X, Santiment says that crypto wallets holding at least 10 BTC are accumulating, and the price of BTC tends to go up. However, when they sell, the crypto analytics platform says that elongated bear markets tend to follow. “Historically, one of crypto’s top leading indicators is the collective holdings of wallets with at least 10 Bitcoin (exchanges or otherwise). When they accumulate, cryptocurrencies rise. When they dump,…

FlowBank, an online Swiss bank that offered customers exposure to crypto, has been shut down and put into bankruptcy by Switzerland’s financial regulator. The Swiss Financial Market Supervisory Authority (FINMA) announced its decision to shutter FlowBank on Thursday, saying the lender “no longer had sufficient capital for its operations as a bank” and that minimum capital requirements had been “significantly and seriously breached.” FINMA also said that there are “well-founded concerns that the bank is currently over-indebted,” with “no prospect” of a restructuring. In a letter to customers posted on FlowBank’s website, the bank said FINMA’s decision to shut it…

Toncoin (TON)’s In/Out of the Money data shows all the addresses currently holding the Telegram-related token are in profit. According to data from IntoTheBlock, 100% of addresses with a TON balance are profitable as price hovers near $8.00. Toncoin’s price rose as Bitcoin continued to hover just above $67,000, while Ethereum price ranged near $3,500, making the altcoin’s surge an impressive one compared to the top two by market cap. 100% TON addresses in profit as price hits an all-time high Toncoin price rose more than 7% on Friday to reach an all-time high of $8.13. The price gains means…

Ripple supports Terraform Labs, calling the SEC’s $4.47 billion penalty unreasonable. Terraform Labs argues its penalty should not exceed $10 million due to financial constraints. Ripple Labs Inc., which is urging the court to overturn the US Securities and Exchange Commission (SEC) settlement fine, is supporting Terraform Labs. The SEC asked on June 12 that Terraform and its creator, Do Kwon, pay $420 million in civil penalties and $3.58 billion in disgorgement. Based on claims that Kwon and his previous company misled investors about their bitcoin products, resulting in losses of $40 billion, this raises the total settlement amount to…