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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.

BIS mBridge CBDC project enters MVP stage

Regulation

Project mBridge is one of the many exciting projects launched by the Bank for International Settlements (BIS), which announced that it had entered the Minimum Viable Product (MVP) stage. Developed by the BIS in conjunction with the central banks of China, Hong Kong, the United Arab Emirates and Thailand, Project mBridge will utilize tokenized central bank digital currencies (CBDCs) to enable cross-border atomic settlement. Now that Project mBridge is in the MVP stage, the Central Bank of Saudi Arabia has become the fifth member to join. Each central bank runs a node on the network, which runs on an Ethereum-compatible…

MATIC Price Tests 8-Month Support As Polygon Unveils New Governance Hub

Altcoins

Polygon’s native token, MATIC, has experienced a notable disparity compared to the broader cryptocurrency market. Unlike the top cryptocurrencies that have posted double-digit gains year-to-date, MATIC has failed to post positive performance across all time frames since the 2021 bull run. Adding to the concern, MATIC’s price has recorded losses amounting to 16.5% over the past seven days. This downward trend has prompted the token to test a crucial macro support level, raising questions about its future trajectory. Amid these developments, Polygon has announced a strategic partnership with Aragon, a developer of decentralized autonomous organizations, to introduce a “governance hub”…

A Major Cryptocurrency Lawsuit Has Been Settled

Legal

According to a breaking development, cryptocurrency exchange Gemini has agreed to pay $50 million to settle a New York fraud case. New York Attorney General Letitia James announced today that the state is recovering $50 million as part of a settlement agreement with cryptocurrency exchange Gemini. Recovered funds will be returned to Gemini Earn customers involved in a multi-firm bankruptcy process. Gemini has agreed to cooperate in a massive $3 billion fraud lawsuit against former partners Digital Currency Group (DCG), DCG founder and chairman Barry Silbert, and former chairman of the now-defunct Genesis, Soichiro “Michael” Moro. The lawsuit filed against…

Four offshore crypto exchanges eye return to Indian market

Exchanges

India’s financial watchdog, the Financial Intelligence Unit (FIU), has received new petitions from offshore cryptocurrency exchanges seeking to resume operations in India. According to a June 14 report from local news outlet Business Standard, a senior government official told the outlet that four additional crypto exchanges have requested permission to begin operations once again in India. The fresh request comes after global crypto exchanges Binance and KuCoin were approved by the financial regulator to restart their operations in India. Both of the exchanges had been previously banned for operating illegally against anti-money laundering policies in India. KuCoin has resolved the…

NFT Market Sees Gains for Second Consecutive Week, Sales Up 10.95%

NFT

Non-fungible token (NFT) sales increased by 10.95% this week compared to the previous week, marking the second consecutive week of gains. Despite a 76.7% drop in the number of buyers, blockchain-issued digital collectibles achieved $141.73 million in sales. NFT Market Trends: Bitcoin and Ethereum Lead Sales Volume In the previous week, NFT sales had risen by 7.51%, and this week they went up by another 10.95%, amounting to $141.73 million in digital collectible sales. The most expensive NFT sold during this period was an Ethereum Name Service domain name, fetching $587,194 five days ago. The second-highest sale was Protoshroom #6,…

Speculators Bet $200,000 on Solana ETF Approval

Regulation

Decentralized prediction market platform Polymarket has seen over $200,000 in wagers on whether spot Solana exchange-traded funds (ETFs) will gain approval by December 31, 2024. This interest reflects a significant bet on the future of Solana within the cryptocurrency market. Speculators Bet Big on Solana ETF Earlier this week, US Securities and Exchange Commission (SEC) Chair Gary Gensler indicated the likely approval of spot Ethereum ETFs in the US by the end of summer. This would be the first time a non-Bitcoin digital asset receives such a classification, sparking speculation about the potential for Solana ETFs. Despite this optimism, betting…

Dogecoin Sees Monumental Surge In Transactions As Whales Spend $129 Million

Altcoins

Dogecoin is currently at a critical price junction that might determine its price trajectory in the short term. Although the meme coin has witnessed a significant price drop in the past seven days, recent whale activity suggests that the tide might change soon. Notably, large holders of DOGE have been taking advantage of the price drop to accumulate millions of DOGE. Per data from Santiment, an on-chain analytics platform, addresses holding between 10 million and 100 million Dogecoins have collectively accumulated more than $129 million worth of DOGE in the past seven days. Dogecoin Whales Accumulate DOGE According to the…

Gary Gensler Released a Statement

Legal

The U.S. Securities and Exchange Commission (SEC) announced in a press release today that Terraform Labs and its founder Do Kwon agreed to pay over $4.5 billion following a unanimous jury verdict. The verdict found them responsible for orchestrating a years-long fraud involving LUNA and UST crypto asset securities, resulting in massive investor losses when the scheme was unraveled. The nine-day jury trial in April revealed the extent of the defendants' misuse of the Terraform blockchain to process transactions and deception about the stability of their crypto asset security, UST. Following the decoupling of UST from the US dollar in…

Pioneering a New Crypto Exchange: The Visionaries Behind Blum

Exchanges

Gleb Kostarev and Vladimir Smerkis, seasoned executives from Binance, have launched Blum, a bold new venture in the cryptocurrency sector. Their extensive experience at one of the world’s leading cryptocurrency exchanges sets a robust foundation for their innovative new platform. From Binance to Blum Previously, Kostarev managed Binance’s operations across Eastern Europe, the Commonwealth of Independent States (CIS) and Turkey. At the same time, Smerkis held the position of general manager for the CIS region. Their combined expertise is now channeled into Blum, which is set to introduce groundbreaking changes to the crypto trading landscape. Blum is designed to revolutionize…

GameStop Stock Dips After Roaring Kitty Nearly Doubles Stake

Regulation

GameStop’s share price has been choppy early Friday after prominent trader Keith Gill, better known as Roaring Kitty or DeepFuckingValue, announced late Thursday that he had significantly increased his holdings in GME from 5 million shares to just over 9 million. In early trading Friday, GameStop’s stock has taken a 4% dip to $28.00, following Gill's disclosure late Thursday afternoon. It was previously up as high as $30.26 shortly after trading opened. In a post on the Superstonk subreddit, Gill revealed that he had exercised some of his much-celebrated $20 call options, leading to a drop in his cash on…