Author: NBTC

On a rainy Thursday in New York City, the saga of Sam Bankman-Fried came to an end—for now, at least. U.S. District Judge Lewis Kaplan sentenced the co-founder and former CEO of FTX to 25 years in prison, with three years of supervised release and the forfeiture of more than $11 billion in ill-gotten gains. Sam Bankman-Fried’s lawyers said they intend to appeal. The hearing where Kaplan pronounced his sentence, though, was not a 15-minute formality. Arguably, it started the evening prior, when Richard Partington III, a 42-year-old part-time teacher in Long Island, became the first member of the public…

SubQuery Network is a pioneer in decentralized web3 infrastructure. It recently passed a major milestone which is crucial to its network evolution. As a result of this, it has become an open, permissionless platform for all. Moreover, it allows easy access to decentralized indexed data and RPC endpoints. Earlier, SubQuery announced partnership with Stargaze to improve its NFT marketplace experience. SubQuery Network to Remove Publishing Restrictions to Foster Diversity This update makes SubQuery smooth and uninterrupted. Additionally, users can quickly create a Flex plan for their favorite RPC network with a production-ready API key. Customers can pay with SQT tokens…

As the leading cryptocurrency Bitcoin prepares for the halving event, which is expected to take place in April, bullish expectations for BTC are increasing. At this point, while the giant bank Standard Chartered increased its 2024 year-end BTC target to $ 150,000, Acheron Trading CEO Laurent Benayoun predicted that the Bitcoin price could increase by another 150% during the current bull market cycle. Stating that at this point, the BTC price could rise up to $180,000 in the bull cycle, the famous CEO said that ETFs and the decrease in supply after the Bitcoin halving will be effective in this…

In an exciting development for the world of decentralized finance (DeFi), INTMAX, the pioneering force behind Plasma Next—an advanced Ethereum scalability platform—has joined forces with IdeaSoft, a key player within the Sigma Software Group known for its innovative blockchain fintech solutions. Together, they’re set to revolutionize the DeFi landscape with the introduction of JIBx, a perpetual decentralized exchange (DEX) built on the Plasma Next framework. Plasma Next, an evolution of the Plasma scalability solution originally proposed by Ethereum luminaries Joseph Poon and Vitalik Buterin, represents a significant advancement in blockchain technology. By employing zero-knowledge proofs and eliminating the need for…

In his parting words to FTX founder Sam Bankman-Fried on Thursday, the judge overseeing his criminal case said the former darling of the cryptocurrency industry, although “exceptionally ambitious,” was ultimately a reckless gambler. Bankman-Fried is “a man willing to flip a coin as to the continued existence of life and civilization on Earth if the chances were imperceptibly greater that it would come out without that catastrophic outcome,” Judge Lewis Kaplan said during Bankman-Fried’s sentencing hearing. Kaplan ordered Bankman-Fried to 25 years in prison, a sentence that falls between the defense’s requested 6.5 years and the government’s proposed 40 to…

Spark, a Maker SubDAO-built DeFi infrastructure, has deployed $100 million in new DAI liquidity with Morpho Blue, Morpho’s lending protocol. This move allows users to borrow Ethena’s stablecoins, USDe and sUSDe, at highly efficient leveraged positions backed by MakerDAO. Ethena’s USDe is backed 1:1 to the US dollar and collateralized with institutional custodians, including Fireblocks, Copper, Ceffu and Cobo. sUSDe is a value accruing “internet bond,” or a staked version of the USDe asset. In addition to creating new DAI markets, a DAI vault has been built on MetaMorpho, a protocol that enables vaults to be created on Morpho Blue…

Collaboration of industry leaders Stability AI, OTOY, Endeavor, and Render Network. Democratizing AI access include decentralized GPU computing for scalable AI solutions. Transparent IP tracking safeguardes artists’ rights in the age of AI. In a landmark collaboration, Stability AI, OTOY, Endeavor, and The Render Network join forces to revolutionize AI models and IP rights standards in media production. The partnership aims to develop next-generation AI workflows and provenance systems powered by decentralized GPU computing. As we head into #GTC24 , we have some exciting news to share – We are partnering with @StabilityAI @AriEmanuel @beeple to work on the future…

SBF could potentially earn enough credit to reduce his sentence by half. Sam Bankman-Fried (SBF), founder of the collapsed crypto exchange FTX, recently received a 25-year prison sentence for crypto fraud. This sentence is far less than the 40-year minimum prosecutors sought and the 110-year maximum suggested by sentencing guidelines. Legal experts said SBF might serve even less time with good behavior. James Murphy, a renowned crypto lawyer, outlined possible next steps in the SBF case. According to him, SBF’s team will appeal the conviction and sentence as part of its legal strategy. SBF has been sentenced to 25 years…

AnimeChain, announced Wednesday by the Arbitrum Foundation in conjunction with the Weeb3 Foundation and Chiru Labs, aims to be a blockchain-powered one-stop shop for anime creators and fans. The three organizations constitute the AnimeChain consortium, which says AnimeChain will provide an online anime ecosystem governed by the community. The network will include original and third-party anime content, games, merchandise, and NFTs. “As a launch partner to AnimeChain, Azuki evaluated existing Ethereum scaling solutions with the Weeb3 Foundation,” Location TBA—the pseudonymous President of Azuki—told Decrypt. “After meeting with various teams, Azuki and the Weeb3 Foundation felt that Arbitrum was the best…

Kerrisdale Capital is short MicroStrategy stock and long bitcoin. The stock’s relative attractiveness doesn’t justify paying more than double for the same coin, Kerrisdale said. MicroStrategy is no longer a unique way to gain access to bitcoin, it said. Prominent short seller Kerrisdale Capital is short MicroStrategy (MSTR) stock and long bitcoin (BTC), it said in a report made public on Thursday. “Shares of MicroStrategy have soared amid a recent rise in the price of bitcoin, but as is often the case with crypto, things have gotten carried away,” the short seller wrote. None of the reasons cited for the…