Author: NBTC
The ongoing consolidation on the market pushed forward a new frontline in the Shiba Inu (SHIB) ecosystem amid the search for balance. The burn rate skyrocketed by 612% overnight, becoming the only metric in the ecosystem with an uptick. Per data from Shibburn, more than 3 million SHIB were sent to inactive addresses, showcasing how committed the community is to deflating the SHIB supply. Matching SHIB burn with price The SHIB burn metric is considered a unique litmus test for the health of the meme coin project. Following the burn rate, which removed exactly 3,244,007 SHIB, the total tokens now…
Roman Storm, co-founder of Tornado Cash, described his prosecution in a Jan. 22 X post as a “terrifying criminalization of privacy.” Tornado Cash is a non-custodial privacy protocol facilitating private crypto transactions via open-source code. He stated: “I am being prosecuted for writing open-source code that enables private crypto transactions in a completely non-custodial manner […] The charges against me threaten to criminalize software development itself.” Storm is charged with operating an unlicensed money-transmitting business, conspiracy to commit money laundering, and sanctions evasion. He was arrested on Aug. 23, 2023, and his trial is set for April 14, 2025. The…
Binance has announced support for its upcoming token swap and rebranding of Litentry (LIT) to Heima (HEI) with several significant changes to its tokenomics and trading processes. Binance to Support Litentry (LIT) Token Swap and Rebranding to Heima (HEI) Major Changes in Tokenomics HEI’s circulating supply will increase from 66 million to 100 million in 20 months. A risk alert banner and pop-up notification will be displayed on the Binance trading page to alert users of the changes. Trading Timeline 10 Şubat 2025 (06:00): Binance will remove all existing LIT spot trading pairs (LIT/BTC and LIT/USDT) and cancel all pending…
The BNB Foundation completed the 30th quarterly BNB burn today, reducing the total supply by over 1.6M BNB tokens valued at $1.16B. The foundation still needs to burn another 42.47M BNB to reduce the token’s total supply to its 100M BNB target. The BNB Foundation used the Auto-Burn mechanism introduced in BEP-95 to clear over 1.5M BNB in the actual burn, while the Pioneer Burn accounted for the remaining 110K BNB. According to the foundation, the BNB Beacon Chain validators left their “now unrecoverable” self-staked 110K BNB on the Beacon Chains and the tokens were considered burned. The validators were…
The crypto industry is waiting for President Donald Trump to issue an executive order that will steer the federal government toward a new, more welcoming era for digital assets oversight. That’ll be good for Trump’s own business, and that’s one of the reasons Democrats in the House of Representatives are already shouting about ethical lapses in the administration. A Trump executive order on crypto stands to increase the value of at least two components of Trump’s family business: crypto venture World Liberty Financial and the eponymous token (TRUMP) launched right before he returned to the White House. Gerry Connolly, the…
After yet another technical hiccup, this time with Solana, Coinbase’s CEO apologized and pledged to scale infrastructure and provide “tier 1” support for high-demand periods. Coinbase CEO Brian Armstrong has apologized for the Solana delays caused by the exchange’s infrastructure issues, which left users dealing with canceled or slow transactions. In a post on X on Jan. 22, Armstrong admitted that the platform has the Solana backlog “triaged,” adding that transactions “should generate quickly again.” For users who suffered losses or missed out on the hype due to hours-long disruptions in depositing or withdrawing Solana (SOL) tokens, Armstrong issued his…
Bitcoin recently recovered from a correction that pushed its price to $89,000, reigniting bullish momentum in the market. While the drop was alarming, it didn’t significantly impact market sentiment. Bitcoin now stands stronger than before, poised for a potential rally to new heights. Bitcoin Investors Are Still In Profit The MVRV Ratio, currently at 1.32, reflects Bitcoin’s positive market sentiment. This metric, which compares Bitcoin’s spot price to its realized price, shows that the average BTC unit holds an unrealized profit of 32%, according to a Glassnode report. This is reminiscent of post-ATH behavior in mid-April 2024, highlighting bullish sentiment…
Andy Ayrey, CEO of Truth Terminal, a prominent AI bot that gained attention in 2024, announced the creation of a foundation and treasury to support the bot’s future. This move is seen as a key step in integrating artificial intelligence and crypto. Ayrey described the initiative as a way to establish a “healthy precedent for all synthetic life.” Truth Terminal became popular in October after receiving meme coin donations to its wallet. Following a review, Ayrey found himself legally responsible for the bot’s wallet, intellectual property, and overall management. By transferring these responsibilities to the newly formed foundation, Ayrey aims…
U.S. Commodity Futures Trading Commission Chairman Caroline Pham, the Republican commissioner who just took over the agency as President Donald Trump returned to the White House, ushered out many of the agency’s top officials under predecessor Rostin Behnam, the Democrat who’d been appointed by Joe Biden. The staff changes — with each departure replaced by interim officials appointed by Pham — will have implications on cryptocurrency oversight for the U.S. derivatives regulator that’s poised to play a bigger role in the field. Notably, Harry Jung, who joined the CFTC in 2023 as a senior policy advisor to Pham, will lead…
Coinbase has filed a motion to dismiss a lawsuit from BiT Global that challenges the firm’s decision to delist Wrapped Bitcoin (wBTC), according to a Jan. 21 court filing. This follows the denial of BiT Global’s earlier legal attempt to block the delisting through a court order. Last year, Coinbase removed wBTC from its platform due to concerns about its association with Justin Sun, the founder of Tron blockchain. The exchange cited Sun’s history of alleged fraudulent activities and market manipulation as posing significant user risks. In response, BiT Global filed a lawsuit to prevent the delisting, claiming it would…