Author: NBTC

The well-known crypto influencer, Eric Wall, has raised thoughtful criticisms over the new hyped artificial intelligence (AI) cryptocurrency, Bittensor (TAO). Its community, however, surged in disapproval. On March 29, Eric Wall made a long post on X (formerly Twitter) explaining how Bittensor’s AI system works. The influencer mentioned TAO’s “spectacular uselessness” through the different subnets and their mining mechanisms that reward miners with the token. Using the ‘Subnet 1’ for text prompts as an example, Wall highlights a “redundant” work. In his explanation, all miners will run the “exact same task,” and will validate each other outputs according to their…

The Hong Kong Stock Exchange today announced the launch of new spot Bitcoin and Ethereum exchange-traded funds (ETFs). According to an official announcement by Hong Kong Exchanges and Clearing Limited (HKEX), the Bitcoin and Ethereum ETFs were welcomed on Tuesday, April 30, marking the introduction of the first spot virtual asset (VA) ETFs in Asia. Expanding Virtual Asset Investment Choices The announcement stated that Investor interest in virtual asset ETFs has significantly increased since the launch of VA Futures ETFs in late 2022. By the first quarter of 2024, the combined average daily turnover for the three VA Futures ETFs…

This week, the Nasdaq-listed bitcoin miner Iris Energy Limited announced it has boosted its hashrate to 9 exahash per second (EH/s) and aims to reach 10 EH/s in the coming month. This development follows the network’s fourth halving and occurs amid a period when Bitcoin’s hashprice has significantly declined, exerting intense pressure on BTC mining operations. Iris Energy Gears Up for Expansion, Projecting 50 MW Capacity Boost Iris Energy Limited (Nasdaq: IREN) recently disclosed that it has elevated its total hashrate to 9 exahash per second (EH/s). The company anticipates achieving 10 EH/s by May and projects an expansion to…

Canaccord cut its price target for MicroStrategy to $1,590 from $1,810. The company bought more bitcoin in the first quarter and now owns a total of 214,400 BTC worth about $13.6 billion, the report said. MicroStrategy reported a first-quarter net operating loss of $53.1 million after taking a digital asset impairment charge of $191.6 million. MicroStrategy (MSTR) raised over $1.5 billion in the first quarter and used the proceeds to acquire an additional 25,250 bitcoin (BTC) and now owns 214,400 BTC worth around $13.6 billion, broker Canaccord Genuity said in a research report on Monday. MicroStrategy’s corporate strategy is partly…

Although decentralized finance (defi) continues to evolve, it is being perceived as the domain of a select few, Mehdi Lebbar, the co-founder of the investment platform Exponential, says. However, he argues that defi protocols can alter this perception by emphasizing user education. Lebbar contends that regular educational newsletters, explainer videos, and social media posts can play a pivotal role in achieving this goal. A Shift From Trusted to Trust-Minimized Models In responses provided to Bitcoin.com News, Lebbar suggests that defi protocols should prioritize education as diligently as they focus on building products. By doing so, they can effectively bridge the…

Like a virtual slot machine inspired by Japanese gachapon toy vending machines, “Gacha Grab” tasks players with spinning the dial to earn points and prizes, including one of eight digital Gachapons each with a different reward level. Each spin in Gacha Grab costs 100 credits and grants one Gachapon collectible. Created in collaboration with the Azuki NFT collection on Ethereum, Gacha Grab lets players earn credits for each Azuki, Elementals, or Beanz NFT they own. According to the AnimeCoin announcement, participants in the first Bonus Quest in March are eligible to receive 100 bonus credits. Gachapon rarity, AnimeCoin says, comes…

A brief history of TON In 2018, Telegram CEO Pavel Durov published a white paper for the first layer blockchain of the Telegram Open Network (TON). The idea of the project was to transfer the popular Telegram messenger to TON, to subsequently create the most anonymous and secure application, protected by its own proxy. TON was described as a platform for decentralized applications and services that could be used as an alternative to Visa and MasterCard payment processing services due to its scalability and ability to support millions of transactions per second. The time when the inefficiencies of legacy platforms…

South Africa recently put in place a licensing regime for crypto with plans to hand out 60 licenses in the coming weeks. Members of the crypto community don’t think that politics will jeopardize the country’s plans for the digital asset sector. South Africa’s upcoming election isn’t expected to derail the country’s agenda for digital assets, several members of the crypto community told CoinDesk. The Financial Sector Conduct Authority (FSCA) recently set up a licensing regime for crypto, making it one of the first African nations to do so. The regulator is poised to hand out 60 licenses to crypto firms…

Binance Futures is set to expand its range of trading options and elevate users’ trading experiences with the launch of new perpetual contracts. Binance Futures Introduces USDC Secured ENA, ETHFI, and 1000BONK Perpetual Contracts The ENAUSDC Perpetual Contract will be launched on May 2, 2024 at 10:00 AM, the ETHFIUSDC Perpetual Contract will be launched at 10:15 AM, and the 1000BONKUSDC Perpetual Contract will be launched at 10:30 AM. These contracts will offer up to 50x leverage. Effective April 3, 2024 at 15:30, users will be able to benefit from zero maker fees and 0.017% taker fees for all transactions…

MicroStrategy, under the stewardship of CEO Michael Saylor, disclosed its financial results for Q1, 2024, revealing a mixed bag of outcomes in its Bitcoin endeavors. Despite a 5% dip in total revenues year-over-year to $115.2 million, the company maintains its status as the foremost corporate holder of Bitcoin. With a total of 214,400 BTC acquired at an average price of $35,180 per coin, MicroStrategy has committed approximately $7.54 billion to its Bitcoin holdings as of April 26, 2024. During the quarter, MicroStrategy bolstered its Bitcoin reserves by acquiring an additional 25,250 BTC since the close of Q4, 2023, splurging $1.65…