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.

Thai SEC Greenlights Nation's First Bitcoin Fund Targeting Wealthy Investors

LegalJun 13

Thailand’s Securities and Exchange Commission (SEC) has approved the launch of the nation’s first spot Bitcoin exchange-traded fund (ETF), One Asset Management (ONEAM) announced. This move positions ONEAM at the forefront of offering the “ONE Bitcoin ETF Fund of Funds Unhedged and not for Retail Investors” (ONE-BTCETFOF-UI), specifically tailored for wealthy and institutional investors. According to local reports, the inaugural fund is slated for distribution from May 31 to June 6, bearing an investment risk level of eight. The fund will allocate investments across 11 leading global funds. These funds adhere to stringent international storage standards and have undergone rigorous…

Singapore Reins In on Family Offices, Hedge Funds

RegulationJun 13

Singaporean authorities have intensified scrutiny of family offices and hedge funds in a move to protect individuals from money laundering and terrorist financing risks. Authorities have tightened regulations and investment regimes since March, following a series of criminal cases. One accused in a S$3 billion ($2.2 billion USD) money laundering case was reportedly linked to a family office that received tax exemptions, according to a Bloomberg report. As authorities launch new strategies to address the challenges of foreign wealth inflows, Richard Crowley, Assistant Professor of Accounting at Singapore Management University, stated: “Having more (and ideally more varied) data helps with…

34.42 Million Tokens Head to Distribution

AltcoinsJun 13

Blur, the decentralized marketplace for non-fungible tokens (NFTs), continued its scheduled token unlock program in the early hours of Tuesday, April 16, 2024. In a post on X, Spot On Chain, the leading crypto analytics platform, noted that the NFT marketplace released 34.42 million BLUR, equivalent to $15.29 million, into the cryptocurrency ecosystem. 34.42M $BLUR ($15.29M) was unlocked from the lockup contract 2hrs ago and will soon be moved to #Coinbase for distribution. In total, 655M $BLUR (now $259M), or 21.8% of the total supply, have been unlocked since Jun 2023. The $BLUR price has dropped ~41% since the last…

Binance Fails to Pay Taxes on Over $20 Billion Turnover

LegalJun 13

In 2023, Binance generated revenues exceeding $20 billion in Nigeria; however, the company has not paid taxes, a government minister disclosed. The Nigerian official also seemed to refute U.S. lawmakers’ claims that Tigran Gambaryan, an imprisoned Binance executive, is being held hostage by his government. Tigran Gambaryan Detained on Allegations of Contributing to Naira Depreciation The global cryptocurrency exchange Binance reported a turnover exceeding $20 billion in Nigeria for 2023, yet it failed to pay taxes, according to the country’s information minister. The minister, Mohammed Idris, also maintained that Tigran Gambaryan, the imprisoned Binance executive, is being detained for his…

Bitcoin long-term holders resume accumulation for the first time since December: Bitfinex

BitcoinJun 13

Bitcoin (BTC) long-term holders have resumed accumulating, signaling a shift in market dynamics, according to the latest “Bitfinex Alpha” report. Bitfinex’s analysts indicate that the selling pressure from these investors has subsided, with a noticeable uptick in buying activity. Image: Bitfinex/CryptoQuant This change comes after Bitcoin reached a new all-time high of $73,666 in March, followed by a significant sell-off from long-term holders (LTHs). The sell-off led to an increase in supply on the open market, causing a period of price correction and consolidation. However, the trend appears to have reversed, with LTHs beginning to re-accumulate Bitcoin for the first…

South Korean bank staff embezzles $7.5m to invest in crypto

RegulationJun 13

An employee of South Korea’s Woori Bank has confessed to the police of embezzling $7.3 million from the bank to fund personal crypto investments, most of which failed. According to reports from local news outlets, the employee who has not been named visited the West Gimhae Police Station in South Gyeongsang Province on June 10 to reveal the extent of their crimes. Investigators have revealed that the employee in their thirties had invested the stolen funds in crypto ventures, trying to make personal gains for himself. Unfortunately, however, most of those investments failed, resulting in him losing $4.35 million from…

Shiba Inu's Shibarium Skyrockets to Nearly 1 Million Transactions in Record Spike

AltcoinsJun 13

Shiba Inu's layer-2 blockchain, Shibarium, has soared to impressive heights, nearing the one million transaction mark in a monumental surge. Shibariumscan data reveals a staggering 228.5% increase in transaction volume within a 24-hour period, culminating in a colossal 958,440 transactions. This remarkable milestone eclipses previous records set by Shibarium, with the last comparable feat recorded on March 16, boasting 1.04 million transactions. The surge in transaction activity on Shibarium has also triggered a substantial uptick in transaction fees denominated in BONE, a vital token within the Shiba Inu ecosystem. From a modest collection of 10 BONE on April 10, fees…

Ledgible Launches Tax Reporting for Tokenized Real-World Assets (RWA)

LegalJun 13

Ledgible, a crypto tax and accounting platform, announced the launch of its tax reporting solution for tokenized real-world assets (RWA). This development comes as federal regulations tighten around digital assets. These include mandates like IRS Form 1099-DA, which require detailed reporting on digital asset activities. Ledgible Unveils Tax Reporting for RWA Ledgible’s platform aims to help enterprises and institutions navigate complex regulatory requirements. In a statement, Kell Canty, the firm’s CEO, emphasized the platform’s readiness to ensure compliance. “As federal regulations around digital assets, like IRS Form 1099-DA, mandate companies begin reporting out on their digital asset activities including tokenized…

Bitcoin Knocks on $70K Level; Bitfinex Hopeful Selling Pressure That Sparked a Correction Is Ending

BitcoinJun 13

Bitcoin (BTC) briefly topped $70,000 Monday for the first time in a week before retreating to its familiar trading range, continuing its sideways price action. The largest crypto by market capitalization recently changed hands at around $69,200, up 2% over the past 24 hours, while Ethereum's ether (ETH) was little changed slightly below $3,800. The broad-market CoinDesk 20 Index gained 1.6% over the past 24 hours. Bitcoin and the broader crypto market have spent more than two months consolidating since March, when BTC hit a record price above $73,000. "This correction phase now appears to be nearing an end," Bitfinex…

OKX Ventures Invests in Decentralized Data Protocol Codatta

RegulationJun 13

OKX Ventures, the investment arm of the prominent crypto exchange and Web3 technology company OKX, has announced its lead investment in Codatta. Codatta is a pioneering decentralized data protocol. It is designed to create essential data infrastructure for developers and various protocols in the Web3 space. We’re thrilled to announce our leading Investment in @codatta_io,the first decentralized data protocol aiming to build foundational data infrastructure for developers and protocols.https://t.co/dLxRj5sWHU pic.twitter.com/4gFyr9dDJL — OKX Ventures (@OKX_Ventures) June 12, 2024 Codatta Enhances Data Quality for Web3, Attracts Major Investment Codatta provides its users the ability to make money off their data and contributions…