Author: NBTC

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.

Sharding tech makes 100x scalability and seamless interoperability a reality

BlockchainJun 16

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,…

Bitcoin Indicator That’s Historically Predicted Price Rallies Flashing Bullish Signal, According to Santiment

BitcoinJun 16

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,…

Swiss Regulator Shutters Crypto-Linked FlowBank, Begins Bankruptcy Process

RegulationJun 16

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…

TON addresses in profit hits 100%

AltcoinsJun 16

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 Backs Terraform Against SEC’s $4.47B Penalty

LegalJun 16

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…

Pompliano discusses Bitcoin’s transformative impact at Consensus 2024

BitcoinJun 16

At Consensus 2024, renowned Bitcoin advocate Anthony Pompliano shared his perspectives on Bitcoin’s new landscape and its far-reaching utility. The panel discussion highlighted Bitcoin’s impact on societal acceptance, the financial system, economic incentives, Wall Street’s changing stance, and educational role. Shift in Societal Acceptance “There’s been an acceleration of those people. It’s no longer celebrities, musicians, etcetera. We’re now talking about the President of the United States, some of the most powerful people on Wall Street are saying this is real,” Pompliano said. President Donald Trump has been the biggest figure to endorse Bitcoin, with over $10 million in his…

ARK Invest CEO Cathie Wood Explains Why Her Firm Expects Tesla Share Price to Hit $2600 by 2029

RegulationJun 16

On 13 June 2024, ARK Invest CEO and CIO Cathie Wood joined CNBC’s “Squawk Box” to discuss the future of Tesla Inc. (NASDAQ: TSLA) and her firm’s five-year price target for the stock. Cathie Wood began by addressing the recent Tesla shareholder vote, which included a critical decision on Elon Musk’s pay package and moving Tesla’s legal home from Delaware to Texas. Wood expressed her surprise and pleasure at the large institutional shareholders supporting Musk. This vote, she noted, was initially driven by ESG considerations, prompting these institutional players to reconsider their voting strategies. Despite anticipating some legal battles ahead,…

Crypto Community Divided Over Crenshaw’s Return to SEC

LegalJun 16

President Joe Biden’s renomination of Caroline Crenshaw for a second term as a U.S. Securities and Exchange Commissioner has sparked mixed reactions from the cryptocurrency community, with some fearing a continuation of the SEC’s stringent regulatory approach towards digital assets. The news shared on X platform by Fox Business journalist Eleanor Terrett has quickly drawn reactions from the cryptocurrency community. MetaLawMan, a prominent figure in the crypto space, posted a critical response to the announcement. Referring to Crenshaw as a “soldier in good standing in the anti-crypto army,” MetaLawMan expressed skepticism about the SEC’s stance on cryptocurrency regulation. The tweet…

Will the Euphoria Push BTC to New Record Highs?

BitcoinJun 16

The cryptocurrency market, particularly Bitcoin, is once again at the center of attention as it nudges towards unprecedented price levels. Glassnode, a leading analytics platform, has recently shed light on this phenomenon, describing the current market condition as entering a “Euphoria phase.” This stage is marked by a significant portion of Bitcoin’s supply being held in profit, reflecting heightened market optimism and investor confidence. As Bitcoin teeters on the brink of breaking its previous all-time high of $73,000 set in March, the dynamics within the market suggest a cautious optimism. According to Glassnode’s latest insights, approximately 93.4% of Bitcoin’s total…

GameStop Stock Rises Amid Speculation Over Whether Roaring Kitty Sold

RegulationJun 16

A significant uptick in trading activity for certain short-dated GameStop options contracts on Wednesday has led market analysts to speculate that famed trader Keith Gill, also known as the influencer Roaring Kitty, might have offloaded part of his recently disclosed options position in the company. GameStop's (GME) stock price rose 7% on Thursday reaching $27.15 a share in morning trading. Gill, instrumental in the 2021 meme stock surge, recently posted a screenshot on Reddit on June 2 revealing his extensive GameStop stock and options holdings. According to the screenshot, he held 120,000 GameStop June 21 call options at a strike…