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.

Equity market upside could favor Bitcoin as correlation with Nasdaq 100 strengthens

BitcoinJun 9

Bitcoin’s (BTC) 30-day correlation with the Nasdaq 100 Index of US technology stocks is nearing its highest level since early 2023, as reported by Bloomberg. This means that further gains in the index might be followed by a similar upward movement performed by BTC. Image: Bloomberg Additionally, Mike Novogratz stated on Bloomberg Television that a “more positive US political environment for digital assets” might propel BTC to $100,000 by the end of the year. However, if Bitcoin is ready to start its path to Novogratz’s prediction, following further upside from Nasdaq 100, is yet to be defined by the weekly…

JPMorgan and Citi Change Their Forecasts on When the Fed Will Cut Interest Rates

RegulationJun 9

Citigroup Inc. and JPMorgan Chase & Co. Economists revised their forecasts for the FED's interest rate cut. These companies, which were among the last few economists to previously predict a rate cut in July, have now changed their expectations. Citigroup changed its forecasts after the release of stronger-than-expected employment data for May. The bank now predicts that US policymakers will make their first moves in September, while JPMorgan does not foresee any changes until November. Andrew Hollenhorst, Citigroup's chief U.S. economist, explained the shift in a recent report. “We are shifting our base scenario for the first interest rate cut…

DePIN will drive environmental impact by being a solution for climate crisis

BlockchainJun 9

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. The impacts of the climate crisis are becoming increasingly difficult to ignore. Yet, our approaches to monitoring and addressing this existential challenge often feel outdated and inadequate. The decades-old climate models we rely on have significant limitations, failing to provide the hyperlocal, real-time, and comprehensive data we need. You might also like: Creating a resilient and sustainable blockchain-as-a-service for all | Opinion Early climate models were constrained by the computing power of the time, unable to incorporate…

Medical Device Maker Semler Scientific Buys $17 Million More Bitcoin and Is Raising Money to Purchase More

BitcoinJun 9

Semler Scientific is continuing to add bitcoin to its treasury with a $17 million purchase and an announcement that it's raising $150 million so it can buy more. Its May announcement of a $40 million bitcoin purchase drove the company's stock up 25%. Publicly traded Semler Scientific (SMLR), a healthcare business that broadened its corporate strategy to also include buying bitcoin (BTC), said it's buying $17 million more of the digital currency and preparing to raise $150 million so it can purchase even more. "Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding…

Bitcoin miner Core Scientific declines $1b buyout offer

RegulationJun 9

Core Scientific Inc., a significant player in the Bitcoin (BTC) mining industry, has rejected an unsolicited $1 billion takeover offer from artificial intelligence (AI) startup CoreWeave Inc. as more and more companies scamper to latch onto the crypto bandwagon. Core Scientific rejects takeover bid Core Scientific, one of North America’s largest owners and operators of high-powered digital infrastructure for Bitcoin mining and hosting services, received an unsolicited non-binding proposal from CoreWeave to acquire all of its outstanding shares on a fully diluted basis for $5.75 per share in cash. The proposal, valuing Core Scientific at $5.75 per share, was made…

FTX Treasury Wallet Moves Out $247M FTT Amid Market Gains

AltcoinsJun 9

A wallet affiliated with bankrupt exchange FTX has been spotted migrating crypto funds to a new destination, largely the platform’s native token, FTX. Lookonchain, a crypto surveillance account on X, called attention to this latest move from FTX in an update. 6 hours ago, FTX: FTT Treasury transferred all assets to a new wallet, including: 195.87M $FTT($246.8M) 1,938 $ETH($5.94M) 6.36M $JOE($3.25M) Address: 0x2a4F8d77bAde18256b1BDB3cF8782645037f60d3 pic.twitter.com/vJXmYsC2Ek — Lookonchain (@lookonchain) April 19, 2024 Per the revelation, FTX’s treasury wallet transferred all assets to a new wallet in multiple transactions within the last 24 hours. Of the moving tokens, FTT wields the most staggering…

Bitcoin Falls Back After Attempt at $72K, but Fed, U.S. Data and Global Rate Cuts May Bring New All-Time Highs

BitcoinJun 9

Bitcoin spot selling on exchanges weighed on prices with a built up of short derivatives positions around the $72,000 level, one observer noted. Soft U.S. economic data, rate cuts could foreshadow dovish a Fed meeting next week. Bitcoin (BTC) is increasingly compressed in a narrow range as the latest effort to rally past $72,000 stalled Thursday. BTC rallied to $71,700 earlier during the day following the European Central Bank (ECB)'s rate cut, but quickly tumbled nearly dipping below $70,000 before bouncing to $70,600 at press time, down about 1% over the past 24 hours, CoinDesk's Bitcoin index data shows. Well-followed…

SUI is now available for on-chain staking on Crypto.com

AltcoinsJun 9

SUI recently announced the release of its on-chain staking feature on Crypto.com. The announcement was made via an official post on Crypto.com’s website. With staking, Crypto.com secures the token’s blockchain technology while putting idle assets to work. The platform provides users with a chance to earn up to 4% in token rewards. Besides this, the exchange allows the flexibility of unstaking staked assets at any time conveniently and securely. The official post listed the tokens from different blockchains available for staking. According to the latest Crypto.com review, the list includes: SUI (Sui) KAVA (Kava) MINA (Mina) SEI (Sei) KSM (Kusama)…

Crypto felons SBF and Avi Eisenberg reunited in infamous NY prison

LegalJun 9

Disgraced FTX founder Sam Bankman-Fried and perpetrator of the 2022 Mango Markets exploit Avraham Eisenberg are once again sharing the same prison. It’s unclear at this stage if the two are ‘bunk buddies.’ Prison records show that Bankman-Fried was returned to the Metropolitan Detention Center (MDC) in Brooklyn on June 4. He was previously held here before being transferred to the Federal Transfer Center in Oklahoma City on May 23. He was then moved to a prison in Pennsylvania on his way back to New York. Meanwhile, Eisenberg was moved to the MDC in November while awaiting trial and so…

Bitcoin Cash gains slightly after Roger Ver's bail from Spanish prison

BitcoinJun 9

Bloomberg reports that a Spanish court granted Bitcoin Cash proponent Roger Ver bail. Roger Ver still faces extradition to the US for fraud tax evasion charges. Bitcoin Cash is up 2% since Ver's release. Bitcoin Cash (BCH) saw a 2% gain on Thursday following proponent Roger Ver's bail from a Spanish prison, according to a Bloomberg report. Bitcoin Cash gains strength following Roger Ver's release Roger Ver, popularly known as Bitcoin Jesus, was reported to have been granted bail from a Spanish prison on Thursday, according to Bloomberg. Although released on bail, Ver still faces extradition to the US on…