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Author: NBTC

NBTC is the editorial account for NBTC News, covering Bitcoin, Ethereum, DeFi, blockchain infrastructure, exchanges, mining, regulation and digital asset markets. The editorial team focuses on clear sourcing, timely updates and practical context for crypto readers.

Legal

Financial Stability Board to Extend Its Work on Stablecoin Risks in Emerging and Developing Economies

By NBTC

The FSB will undertake more work on the risks posed by stablecoin arrangements in emerging and developing economies. It will also consider the challenges emerging from higher levels of stablecoin adoption in the crypto sector. The Financial Stability Board (FSB), which monitors the global financial system for systemic risk, said it will undertake further work on the challenges posed by stablecoins in emerging and developing economies. The decision was taken during a meeting in Toronto of the FSB's plenary, the sole decision-making body of the standard-setting and advisory organization, according to a Friday statement. A stablecoin is a cryptocurrency whose…

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Bitcoin

Long-Term Bitcoin Holders Cash Out Amid 2024 Price Surge

By NBTC

In a bullish crypto market, it is usual that long-term holders (LTHs) sell their Bitcoin as prices surge. This was more visible from early 2024 until April. The 1-year and 2-years old unspent transaction outputs (UTXOs), as per CryptoQuant, saw significant drops in the supply they held. However, even though there has been selling pressure on these UTXOs, Bitcoin supply in UTXOs older than three years keeps growing. This indicates heightened long-range optimism by such holders. During bullish phases, it's common to observe LTHs offloading portions of their #Bitcoin holdings as prices rise “The 1-year+ and 2-year+ cohorts have ceased…

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Altcoins

“These Are Coming After Bitcoin”

By NBTC

Santiment, one of the most popular cryptocurrency analysis companies, shed light on the current most popular altcoins of the crypto world in its latest analysis. According to the analysis company, Bitcoin, unsurprisingly, remains the most popular cryptocurrency. Analysts think that this popularity took a leap today after former US President Donald Trump announced his interest in Bitcoin mining. In his statement, Donald Trump described Biden as an enemy of BTC and stated that he wanted all Bitcoins to be released from now on to be issued within the borders of the USA. Following Trump's statement, there was a significant increase…

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Bitcoin

Cardano Founder Hails Bitcoin, Here's Reason

By NBTC

In a recent statement, Charles Hoskinson, the founder of Cardano, has praised Bitcoin, highlighting it as the culmination of 50 years of technological advancements and innovation. Hoskinson's praise extends beyond Bitcoin to encompass the entire cryptocurrency ecosystem, which has grown exponentially over the past decade. However, advancements in cryptocurrencies are not a sudden phenomenon but rather the result of five decades of research and developments in various fields, including cryptography, computer science and network theory. From the development of public key cryptography in the 1970s to the creation of peer-to-peer networks in the early 2000s, these advancements have collectively paved…

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Altcoins

Crypto Twitter Roasts zkSync for Bot-Friendly Airdrop

By NBTC

Prominent analysts and Ethereum users have criticized the recent token airdrop by layer-2 scaling solution zkSync, citing concerns over uneven distribution and inadequate protection against Sybil attacks, a common form of blockchain manipulation. zkSync previously announced that 695,232 wallets would be eligible for its ZK token airdrop. To ensure fair distribution and prevent Sybil attacks – where one entity uses multiple wallets to exploit airdrops – ZkSync established seven eligibility criteria. However, these measures have been widely criticized as insufficient. Adam Cochran, a partner at Cinneamhain Ventures, expressed concern, stating: “I love the zkSync guys, but that was not a…

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Legal

Korean court gets new evidence alleging Terra’s Kwon deceived investors with fake transfers

By NBTC

South Korean prosecutors have found new evidence alleging that Terra founder Do Kwon conspired with former Chai CEO Shin Hyun-Sung to deceive investors with fake transactions. Terraform Labs co-founder Kwon Do-Hyeong, a central figure in the collapse of the Terra and Luna tokens, allegedly conspired with ex-CEO of Chai Corporation Shin Hyun-Sung, to deceive investors with fake transactions, according to a report by Yonhap News Agency. The Seoul Southern District Prosecutors’ Office reportedly presented new evidence to the court, revealing a May 2019 chat between Kwon and Shin discussing the Chai payment app, which Terraform used to process millions of…

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Bitcoin

Don’t fossilize Bitcoin

By NBTC

Just recently, Bitcoin underwent its most recent halving event. As usual, this meant a 50% reduction in block subsidy rewards for all miners. Halving events are generally seen as bullish for bitcoin’s market price; however, the immediate effect is a drop in revenue for those mining bitcoin. That’s not all that’s different with Bitcoin, though. New protocols are changing the way users engage with the network, pushing up fees and, in many ways, offsetting the losses that come with a halving. Unfortunately, this is also causing issues with blockspace and network congestion. Many Bitcoiners argue against bringing Ordinals, Runes and…

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Altcoins

New Binance listing IO token surges +48% in the last 24 hours

By NBTC

The Binance exchange recently listed IO.NET’s native IO token, and the token’s price has been on the rise ever since. The IO token price rose 48.02% in the last 24 hours. At the time of this writing, it is trading at $6.0906. Binance Launchpool just recently announced IO.NET as its 55th launchpool project. Following the announcement, the largest crypto exchange also planned to list its native token, IO, on the platform. Crypto traders and investors have been keenly eyeing the IO token as a potential crypto to trade and earn profits. Yesterday, the Binance exchange platform finally listed the IO…

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Legal

EU Criticism of Crypto Privacy, Decomposed

By NBTC

The EU Innovation Hub for Internal Security has examined the impact of cryptocurrency mixers and privacy coins on regulatory efforts. This inaugural study on encryption highlighted the challenges posed by these technologies in ensuring regulatory compliance. The report underscores cryptographic technologies’ “dual-use” nature, which can balance personal privacy against collective security. Despite the potential benefits, adopting bitcoin mixing methods poses significant regulatory hurdles in Europe. The EU Innovation Hub highlighted specific risks associated with certain cryptocurrencies and technologies. Monero, Zcash, Grin (GRIN), Dash, layer-2 solutions, and zero-knowledge proofs were identified for their roles in obscuring blockchain visibility. These methods complicate…

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Bitcoin

Dormant Bitcoin Address Awakens After a Decade, Moves $9.8 Million in BTC

By NBTC

May has emerged as a notable month for ‘sleeping bitcoin’ transactions, with a long-dormant address, inactive for ten years and six months, awakening on May 28 to move 145.89 BTC, valued at $9.8 million. Over $109 Million in Bitcoin From 2013 Moved in May After a much quieter April, May has witnessed numerous dormant bitcoin addresses becoming active after years of inactivity. Notably, a significant holder from 2010 reappeared this month, spending 2,050 BTC from a cache of block rewards. Additionally, $9.6 billion in Mt Gox bitcoins was transferred on Tuesday morning. On the same day, May 28, 2024, at…

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