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.

Whales Go on Buying Spree, Snapping Up $840 Million in ETH

EthereumJun 12

Ethereum (ETH) is showing strength in the volatile crypto market, according to crypto analyst Ali. Large investors, known as whales, recently purchased over 240,000 ETH during a price dip. This significant purchase, valued at around $840 million, demonstrates strong confidence in Ethereum’s long-term value and its crucial role in the global crypto ecosystem. Whales have bought over 240,000 $ETH during the recent #Ethereum price dip, totaling around $840 million! pic.twitter.com/j5jnxJul4q — Ali (@ali_charts) June 12, 2024 Crypto applications built on the Ethereum blockchain are generating revenues comparable to those of several public companies. This highlights the innovation, resilience, and vision…

Solana price falls further as Ore suspends mining on the network

AltcoinsJun 12

One key driver behind Solana’s current congestion issues is giving the network a break. Hardhat Chad, the pseudonymous creator of the Ore project, has announced the project will suspend all mining activities, effective immediately. This decision comes just weeks after Ore’s launch, amid growing pains for the Solana network that have included severe congestion issues and network instability. Ore’s price more than tripled on news that the token’s supply would be paused, from around $93 before the announcement to over $300 shortly after, before drawing down to around $215, according to CoinGecko. Solana extended its bearish week even further, falling…

56% of Fortune 500 execs confirm crypto initiatives in motion: Coinbase survey

BlockchainJun 12

56% of Fortune 500 executives said their firms are actively working on blockchain initiatives, according to Coinbase’s survey published on Thursday. The adoption spans from legacy brands to small businesses, with applications ranging from stablecoins to tokenized Treasury bills (T-bills). In addition, a separate survey from Coinbase shows that Fortune 100 companies are increasingly engaging in on-chain projects, with a 39% year-over-year increase in Q1 2024. According to Coinbase, there is growing mainstream acceptance and integration of blockchain and crypto into traditional financial products and services, represented by the successful launch of spot Bitcoin exchange-traded funds (ETFs) and the tokenization…

Australian Spot Bitcoin ETF Goes Live, Here's Why It Stands Out

BitcoinJun 12

In a positive development for Australia, Monochrome Asset Management has launched a spot Bitcoin Exchange-Traded Fund (ETF) on the Cboe Australia exchange. Notably, the Monochrome spot Bitcoin ETF (IBTC) represents Australia’s first and only ETF holding Bitcoin (BTC) directly. Why IBTC stands out Per an earlier report from U.Today, analysts anticipate the new spot Bitcoin ETF in Australia to generate inflows of about $1 billion. Samson Mow, the CEO of Bitcoin technology company JAN3, highlighted IBTC’s unique position on the ETF market. First, he noted that the Monochrome spot Bitcoin ETF offers global investors direct in-kind creation or redemption. This…

Ethereum NFT Card Battler ‘Parallel’ Launches on Epic Games Store

NFTJun 12

Parallel, an NFT-driven competitive card game built on Ethereum, launched Wednesday on the Epic Games Store, potentially reaching a far larger audience in the process. The Epic Games Store is a prominent PC gaming marketplace, and had 270 million users as of the end of 2023, including some 75 million monthly active users. Epic Games is the creator of free-to-play shooter hit Fortnite and has acquired other games like Rocket League, but the store hosts games from a wide array of studios. Parallel, which was GG’s pick for the 2023 game of the year, expanded access earlier this year with…

Tether prints $1 billion 'unbacked' USDT 'out of thin air'

AltcoinsJun 12

Tether minted another $1 billion worth of USDT on April 16, as the cryptocurrency market accumulated significant losses. The billionaire issuance raised criticisms and questions about its legitimacy, while Tether’s CEO disclosed the issuance as “inventory replenishment.” In particular, WhaleWire called Tether out a few minutes after the mint occurred through a post on X (formerly Twitter). “JUST IN: Another $1,000,000,000 worth of unbacked Tether USDT has been printed out of thin air.” – WhaleWire Notably, Tether minted the $1 billion USDT through a smart contract on the Tron Network (TRX). The issuer sent the tokens to the Tether Treasury…

Donald Trump Commits to Championing Bitcoin Mining in DC

MiningJun 12

Today, Donald Trump met with Bitcoin Magazine's CEO David Bailey and several prominent U.S. Bitcoin miners. The meeting saw Trump commit to championing Bitcoin mining both in Washington D.C. and on the global stage. Today was a historic moment in our journey towards hyperbitcoinization. The former and next President of the United States gathered America’s hashrate and committed to championing our cause in DC and on the global stage. Bitcoin will THRIVE in 🇺🇸 Orange Man+Orange Coin= Good pic.twitter.com/YhfzoJg19g — David Bailey🇵🇷 $0.65mm/btc is the floor (@DavidFBailey) June 12, 2024 Among the attendees were representatives from leading Bitcoin mining firms,…

Mint Blockchain comes out with its much touted Mint Fast bridge

BlockchainJun 12

Mint Blockchain unleashes its much discussed Mint Fast bridge, through which it will be possible for users to shift assets with all beneficial facilities thrown in. These include undisputed acceleration, cost-effectiveness, and all safety aspects intact. Created for rendering service to lesser amounts, Fast Bridge brings to the table effective shifting, along with holding on to high end safety aspects and lesser fees. It is an all-inclusive service targeting lower-level asset transfers to the Mint. Mint Fast Bridge has multiple advantages, such as greater acceleration in the case of cross-chain transactions from all chains to Mint. In the case of…

Tezos Ignites DeFi Innovation Amid Surging Interest From Venture Capitalists

AltcoinsJun 12

Tezos is making significant strides in expanding its DeFi ecosystem with the launch of the DeFi Catalyst Accelerator (DCA) in Singapore. This six-week program nurtures early-stage startups building innovative decentralized finance (DeFi) applications on the Tezos blockchain and its Etherlink Layer-2 rollup. Tezos Launches DCA as Venture Capitalist Interest in DeFi Is Back Tezos and Etherlink claim they offer distinct advantages for DeFi development, i.e., speed, security, low fees, and compatibility with Ethereum-based tools. Etherlink’s emphasis on decentralization and MEV protection further enhances its appeal for DeFi builders. The inaugural DCA cohort includes five teams, i.e., Plend, Hanji, SaveX, Hashleap,…

Bitcoin miner Riot Platforms attacks takeover target Bitfarms over poison pill

MiningJun 12

June 12 (Reuters) - Riot Platforms (RIOT.O, opens new tab said Bitfarms' move to adopt a poison pill to thwart its acquisition by the bitcoin miner was "shareholder unfriendly" and highlighted the lack of solid corporate governance standards. Riot said, opens new tab on Wednesday it had privately urged Bitfarms to remove its chairman and interim CEO, Nicolas Bonta, and add at least two new independent directors to its board. The dispute stems from an unsolicited offer Riot made in April to acquire Bitfarms for about $950 million. Bitfarms rebuffed the offer, saying it significantly undervalued the company, and approved…