Author: NBTC
On March 28th, 2023, Flagstar Bank, the acquirer of Signature Bank, informed my company that they would not be assuming our bank account. They also closed accounts unrelated to crypto that I had set up for my family. Fluence was just one of many de-banked in 2023 as part of Chokepoint 2.0, one prong of the Biden administration’s war on crypto. The End of Unfair Actions against Crypto Other founders suffered far more, with the Securities and Exchange Commission (SEC) actions towards them unless they shut down projects they had already left. The more public actions of the previous Joe…
Robert Kiyosaki, financial and investment expert and the author of the best-selling book “Rich Dad Poor Dad” has taken to social media to discuss with his followers an asset that he strongly believes in, aside from Bitcoin. “Silver is going to take off”; “Supply low…demand high” This time, Robert Kiyosaki chose silver as the topic for his tweet. That is one of the three assets that he believes to be safe haven ones, predicting their prices to skyrocket in the near future. The other two are the world’s bellwether cryptocurrency Bitcoin and the most popular precious metal – gold. In…
On Jan. 24, THORChain announced via X that it had paused its network due to excessive debt and leverage issues impacting its ecosystem. The platform owes nearly $200 million in ecosystem debt. In DeFi, ecosystem debt occurs when a blockchain owes more tokens than it holds, as seen with THORChain’s current situation. This often results from overambitious promises or mismanagement, leading to financial imbalances. On the other hand, leverage risk comes when users are using their crypto assets as collateral to borrow against to improve their positions. Leverage risks can magnify profits but also come with massive losses if the market…
Nate Geraci, CEO of The ETF Store, brought on discussions within crypto twitter when he predicted Cardano (ADA) to be the next digital asset to see spot ETF filings. With the surge of interest in crypto ETFs, ADA might soon join the race. Top 10 crypto assets by market cap…2 have live ETFs3 have live ETF filingsGuessing cardano is next pic.twitter.com/XhI8NqUa2B — Nate Geraci (@NateGeraci) January 23, 2025 Geraci believes ADA is a strong contender for issuers, alongside Avalanche (AVAX). This comes as the market shows growing interest in crypto index funds and spot ETF filings for coins like Solana…
Coinbase has petitioned a U.S. appeals court to rule on whether or not the crypto trading activity on its platform should be subject to securities laws. In a Tuesday court filing, lawyers for Coinbase urged the Second Circuit Court of Appeals to hear its case, arguing that it “presents the single best opportunity to decide the fundamental legal question of how to treat the secondary trading of digital assets.” “This case cries out for the Court’s immediate attention,” lawyers for Coinbase wrote in their petition. “Whether secondary-market trading of digital assets falls within the federal securities laws is a question…
South Korean crypto exchanges Upbit, Bithumb have agreed to compensate users with the largest payout ever following system failures caused by the martial law declaration. Upbit and Bithumb, two South Korean crypto exchanges, have agreed to compensate users for technical failures that occurred during the martial law declaration in December, Korean news agency Yonhap reports. Combined, they will pay out over 3.5 billion won (around $2.5 million) in what is being called the largest compensation in South Korea‘s crypto history. According to reports submitted to the National Assembly, Upbit is set to compensate over 3.14 billion won for 596 cases,…
The ongoing consolidation on the market pushed forward a new frontline in the Shiba Inu (SHIB) ecosystem amid the search for balance. The burn rate skyrocketed by 612% overnight, becoming the only metric in the ecosystem with an uptick. Per data from Shibburn, more than 3 million SHIB were sent to inactive addresses, showcasing how committed the community is to deflating the SHIB supply. Matching SHIB burn with price The SHIB burn metric is considered a unique litmus test for the health of the meme coin project. Following the burn rate, which removed exactly 3,244,007 SHIB, the total tokens now…
Roman Storm, co-founder of Tornado Cash, described his prosecution in a Jan. 22 X post as a “terrifying criminalization of privacy.” Tornado Cash is a non-custodial privacy protocol facilitating private crypto transactions via open-source code. He stated: “I am being prosecuted for writing open-source code that enables private crypto transactions in a completely non-custodial manner […] The charges against me threaten to criminalize software development itself.” Storm is charged with operating an unlicensed money-transmitting business, conspiracy to commit money laundering, and sanctions evasion. He was arrested on Aug. 23, 2023, and his trial is set for April 14, 2025. The…
Binance has announced support for its upcoming token swap and rebranding of Litentry (LIT) to Heima (HEI) with several significant changes to its tokenomics and trading processes. Binance to Support Litentry (LIT) Token Swap and Rebranding to Heima (HEI) Major Changes in Tokenomics HEI’s circulating supply will increase from 66 million to 100 million in 20 months. A risk alert banner and pop-up notification will be displayed on the Binance trading page to alert users of the changes. Trading Timeline 10 Şubat 2025 (06:00): Binance will remove all existing LIT spot trading pairs (LIT/BTC and LIT/USDT) and cancel all pending…
The BNB Foundation completed the 30th quarterly BNB burn today, reducing the total supply by over 1.6M BNB tokens valued at $1.16B. The foundation still needs to burn another 42.47M BNB to reduce the token’s total supply to its 100M BNB target. The BNB Foundation used the Auto-Burn mechanism introduced in BEP-95 to clear over 1.5M BNB in the actual burn, while the Pioneer Burn accounted for the remaining 110K BNB. According to the foundation, the BNB Beacon Chain validators left their “now unrecoverable” self-staked 110K BNB on the Beacon Chains and the tokens were considered burned. The validators were…