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.

MANEKI and POPCAT soar by two digits while Bitcoin stumbles

Solana’s 10 largest meme coins by market cap are all showing gains in the last 24 hours, according to data aggregator CoinGecko. While Bitcoin (BTC) and major altcoins wobble, tokens such as POPCAT and MANEKI soar by two digits. The Chairman of the Federal Reserve, Jerome Powell, announced today that there will be no more interest rate cuts until inflation shows stronger signs of going back to 2%. This means that risk assets, such as stocks and crypto, will still be less favorable than US Treasuries. At the time of writing, BTC had fallen 2.7% over the past hour. Despite…

AltcoinsMay 24

Howey Who? How US Crypto Bill FIT21 Defines Decentralized Networks

Decentralization has served as crypto’s North Star since its beginnings, but with Wednesday’s passage of a crypto market structure bill, the concept could soon become enshrined in U.S. law. Known as the Financial Innovation and Technology for the 21st Century Act, or FIT21, the bill passed by lawmakers in the House of Representatives would provide a pathway for cryptocurrencies to become certified as digital asset commodities under new rules. If FIT21 eventually becomes law, a digital asset would be classified as a commodity and regulated by Commodity Futures Trading Commission (CFTC) if its underlying blockchain is “functional and decentralized.” In…

LegalMay 24

Gate.HK Withdraws Crypto Trading Platform License Application

Gate.HK, the Hong Kong wing of the global cryptocurrency exchange, Gate.io, is in the process of shutting down and has not been listed to carry out its crypto trading platform business in the region. This was expressed in a statement made by the company on Wednesday. It started in May 2023 and applied for the approval with Hong Kong Securities and Futures Commission (SFC) in February but the service withdrew its application on May 22. Urgent User Action Required In the same statement, Gate.HK asked its users to pull out their funds by August 28, pointing to a major revamp…

ExchangesMay 24

Nimble Network and Surf Protocol Team Up to Turbocharge Bitcoin Trading with AI

Nimble Network, an innovative platform known for its decentralized AI OrderBook, has recently entered into a strategic partnership with Surf Protocol, a leader in permissionless derivative trading on Bitcoin L2. This collaboration is set to transform Bitcoin’s native on-chain leverage trading by introducing advanced AI solutions that enhance liquidity efficiency and yield strategies in decentralized finance (DeFi). Revolutionizing DeFi Trading with AI-Enhanced Solutions Nimble Network‘s groundbreaking AI OrderBook facilitates the connection of decentralized GPUs and data resources, enabling AI builders to efficiently develop and manage verifiable AI models on-chain. This technology is particularly significant in the realm of DeFi, where…

BlockchainMay 24

How Bitcoin could impact financial inclusivity among minority groups

From an obscure footnote known to only the more tech-savvy in a much more insular internet, Bitcoin has transformed into an important player in today’s financial landscape. However, while we’re all keenly aware of BTC’s impact on financial markets (a more or less permanent fixture of the news cycle), we often forget to take a step back and look at how this new frontier affects real change and real people. For those historically marginalized by traditional banking due to barriers like poor credit or lack of accessibility, BTC has emerged as a vital financial tool. Its impact is most profound…

BitcoinMay 24

Ethereum spot ETFs approved by SEC

The US Securities and Exchange Commission said it has approved the launch of spot Ethereum ETFs for accelerated launch, according to Phoenix News. @EricBalchunas and I cant see it on the front facing website yet but Phoenix is always right in my experience. https://t.co/xI37RVXqRo — James Seyffart (@JSeyff) May 23, 2024 Ethereum ETFs face a weeks-long process of finalizing S-1 registration statements, a form required by the SEC for ETFs to list securities, and establishing exchange agreements through multiple rounds of SEC communication. The move is expected to bring a substantial influx of institutional capital into the Ethereum market, with…

EthereumMay 24

Top Countries With Lowest Tax Rates in 2024

The landscape of crypto taxes is varied and dynamic, with some nations emerging as particularly friendly to crypto investors and traders. Countries with low taxation on cryptocurrencies reap the benefits of increased investment, innovation, and economic growth, creating a compelling argument for the adoption of similar policies worldwide. Contrasting these havens are countries with more stringent crypto tax laws, which can stifle local market growth and push investors to seek more favorable environments. High-tax countries often see a brain drain in talent and capital, which can be detrimental in the long run. Evaluating Crypto Taxes For crypto investors and businesses,…

RegulationMay 24

Top 10 Altcoins Developers Focused on in April Revealed – Etheruem Not in First Place

April has come to an end and Bitcoin price closed the month in the red zone after a long period of time. Today, the cryptocurrency market has lost blood in general and daily losses have reached double digits in most altcoins. Despite this, cryptocurrency developers continue to develop altcoins, most of which are open source. Here are the altcoins that developers focused on the most during April and the ranking of their developer scores: Optimism (OP) – 541 Hedera (HBAR) – 459 Cardano (ADA) – 432 Chainlink (LINK) – 397 Polkadot (DOT) – 390 Ethereum (ETH) – 323 Cosmos (ATOM)…

AltcoinsMay 24

Crypto market structure bill advances to Senate, Rep. Nickel is optimistic

After passing in the US House of Representatives Wednesday evening with widespread bipartisan support, the Financial Innovation and Technology for the 21st Century Act, known as the FIT21 Act, is headed to the Senate. FIT21 advanced Wednesday with the support of 71 House Democrats, including Reps. Nancy Pelosi, D-Cali., and Josh Gottheimer, D-N.J. Representatives passed the bill with two amendments proposed by Reps. Brittany Pettersen, D-Col., and Ralph Norman, R-S.C., respectively. Norman’s amendment requires the Treasury Department, the CFTC and the Securities and Exchange Commission to complete a joint study and submit a report to Congress that identifies any digital…

LegalMay 24

Community angry after Coinbase taps USDC to celebrate Bitcoin Pizza Day

In a bid to demonstrate cheap payments with USDC, Coinbase faced backlash from the Bitcoin community for not selling pizzas for BTC during Bitcoin Pizza Day. Cryptocurrency exchange Coinbase came under fire from the Bitcoin community for its unconventional celebration of Bitcoin Pizza Day, opting to sell pizzas exclusively for USDC instead of Bitcoin, triggering a wave of criticism. On May 22, Coinbase launched its celebration by rolling out the Coinbase Pizza Truck in New York, offering pizza slices for $1. However, the only catch was that the exchange only accepted USDC, a stablecoin issued by Circle, Coinbase’s long-time friend,…

ExchangesMay 24