Author: NBTC

If the 25 year prison sentence announced today for disgraced FTX founder Sam Bankman-Fried came as a shock to any, here’s a related development that will surely surprise no one: Degens churned up multiple meme coins to piggyback on the news, which in some cases surged over 30,000% in value before plummeting back to worthlessness. On Ethereum scaling network Base, some intrepid crypto user created a meme coin called “Sam Baseman Fraud” around 6:00 am ET, hours before Bankman-Fried’s sentencing hearing was set to begin. By 1 pm, just after the hearing concluded, the token (FTX) had spiked nearly 35,000%…

A contrite Changpeng “CZ” Zhao has been sentenced to four months in federal prison, for his apparently limited role in the illegal activity at Binance, the crypto exchange he founded in 2017. U.S. District Judge Richard Jones in Seattle specifically noted CZ’s many contributions to charity, as well as willingness to accept responsibility, all while downplaying the idea CZ had any foreknowledge that Binance was intentionally committing crimes. This is an excerpt from The Node newsletter, a daily roundup of the most pivotal crypto news on CoinDesk and beyond. You can subscribe to get the full newsletter here. The sentence…

A quant has pointed out how a Bitcoin metric may have detected selling pressure in the market, and therefore, the subsequent price drops, in advance. Bitcoin CDD Registered Spikes Before Recent Price Plunges In a new post on X, an analyst has discussed about how the Coin Days Destroyed (CDD) on-chain indicator may be used to identify selling pressure in the market early. A “coin day” refers to the quantity that 1 BTC accumulates after staying still on the blockchain for 1 day. When a token stays dormant for a while, it naturally accumulates some number of coin days, and…

The cryptocurrency market witnessed a significant downturn this week as Ethereum (ETH) faced a substantial drop of over 9.6% since the week began, marking its lowest values since mid-February. Currently priced at $2,950 per ETH, Tuesday saw the bulk of this decline, culminating in a weekly low of $2,817. Amid this turbulence, attention has been drawn to a suspected Ethereum Foundation address, “0xd7,” which reportedly sold 100 ETH for 291,267 DAI via the Cow Protocol today. This transaction was followed by a transfer of the acquired DAI to another Ethereum Foundation address, “0x9e.” Notably, this suspected Ethereum Foundation address has…

There has been a remarkable surge in USDT transactions within the TRON ecosystem via TronDAO, showing a substantial increase since early February, now averaging over two million transactions daily. According to the latest data compiled by IntotheBlock, the surge brings the transaction volume close to the peak observed in January 2023. USDT Transaction Volume Soars on TRON DAO For the uninitiated, TRON DAO is a decentralized autonomous organization connected to a blockchain ecosystem. USDT, complying with the TRC-20 token standard on TRON, allows transfers using various non-custodial wallets like TronLink, Trust Wallet, and MetaMask. TRON’s popularity for stablecoin transfers, particularly…

The UK’s financial watchdog dedicated nearly a third (30%) of its financial crime specialists to overseeing crypto asset businesses in 2023, according to a report released on May 1. The Financial Conduct Authority (FCA) said it conducted risk assessments across various sectors and identified retail banking, wholesale banking, wealth management, and crypto-asset firms as especially susceptible to financial crime in 2023. These sectors were deemed the most at risk of being misused for money laundering activities. In its fight against financial crime, the FCA’s team of specialists conducted a significant number of reviews. This included 231 in-depth analyses (desk-based reviews)…

Ethereum price dipped below the $3,000 mark on Tuesday May 2, 2024 after bulls failed to build on the 9% weekend rebound that saw ETH soar as high as $3,300 on April 28, but recent whale activity offers a glimmer of hope. Ethereum Price Surrenders Weekend Gains after Fed Rate Announcement Ethereum price showed early recovery signs last weekend, as the bulls engineered a 9% recovery between April 27 and April 30. But with the bulls failing to sustain the weekend demand surge, ETH bears swiftly returned to the driving seat, forcing a 14% downswing in the last 48 hours,…

In a significant development for both the AI and cryptocurrency sectors, SingularityNET (AGIX), Fetch ai (FET) and Ocean Protocol (OCEAN) have jointly announced the establishment of the Artificial Superintelligence Alliance (ASI). The focal point of this collaboration is the creation of a unified AI token, known as the ASI token, consolidating the AGIX, FET and OCEAN tokens. This initiative, driven by a desire to enhance interoperability and streamline operations, is a response to the growing demand for decentralized AI solutions. With an estimated valuation of $7.5 billion, the ASI token is poised to become a pivotal asset within the AI…

Rabotnik, an affiliate of the REvil ransomware group, has been sentenced to 13 years and seven months in jail. Previously, Rabotnik was extradited to the U.S. from Poland and then pleaded guilty to an 11-count indictment. Yaroslav Vasinskyi, the Ukrainian national who is also known as Rabotnik, has been sentenced to 13 years and seven months in prison for his role in conducting over 2,500 ransomware attacks and demanding over $700 million in ransom payments, the Department of Justice announced on Wednesday. The sentencing is part of a wider crackdown on ransomware groups which U.S. President Joe Biden promised in…

Prominent cryptocurrency tracker Whale Alert has published a post on the X platform about a recently awakened crypto whale. This wallet contains millions worth of Ethereum. This premined whale had spent almost nine years in dormancy – this means since 2015, the year that followed the end of the Ethereum initial coin offering (ICO). The reactivated wallet contains almost 2,000 ETH worth $5,876,786. 💤 A dormant pre-mine address containing 1,969 #ETH (5,876,786 USD) has just been activated after 8.8 years!https://t.co/MzyVVkMhIc — Whale Alert (@whale_alert) May 2, 2024 Ethereum Foundation dumps ICO ETH Prior to this awakening, an ancient wallet that…