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.

Democrats, Republicans clash over SEC role in House hearing

Democrats and Republicans clashed over how the Securities and Exchange Commission is handling crypto enforcement actions during a House Financial Services subcommittee hearing Tuesday. Capital Markets Subcommittee Chair Ann Wagner, R-Mo., kicked off the hearing titled “SEC enforcement: balancing deterrence with due process,” with a jab at the securities regulator, mentioning the recent sanctions the SEC received in its case against Debt Box. “Public trust in the SEC will only decline when its employees are sanctioned and forced to resign for their quote gross abuse of power, as they were in the recent case against the crypto platform known as…

LegalMay 9

What Is Fantasy Top? The Ethereum Game on Blast Turning Crypto Twitter Into a Fantasy Sport

We’ve seen mash-ups of fantasy sports and NFT trading cards, but what about something with more crypto-native subject matter? Enter Fantasy Top. Built on Ethereum layer-2 network Blast, Fantasy Top takes the premise of fantasy football and other fantasy sports games, but swaps out pro athletes for crypto influencers. It’s like Crypto Twitter: The Game, and it’s more than just a surface-level riff on the social media sphere. Fantasy Top has gotten off to an electric start, dominating industry chatter while driving surging trading volume—and becoming one of the most profitable protocols or apps across all of crypto. Curious how…

GameFiMay 9

Hong Kong's Largest Cryptocurrency Exchange Announces a Surprise Altcoin Listing!

Positive developments continue to occur in Hong Kong, which has taken important steps towards becoming a cryptocurrency center. At this point, while HashKey, Hong Kong's first licensed cryptocurrency exchange, lists altcoins for professional investors, the last listing came for Toncoin (TON). Haskey stated that TON trading will start on May 09 and made the following statement: “We are excited to announce that Toncoin will be listed on HashKey Exchange, a licensed virtual asset exchange in Hong Kong. Listing information and schedule for TON are set as follows: TON of deposits and withdrawals are currently open. TON trading is scheduled to…

ExchangesMay 9

APhone and Magic Eden Join Forces to Offer Exclusive Access Passes to 22M Monthly Users

Hong Kong — APhone, the revolutionary web-based virtual phone app, is teaming up with the premier digital collectibles marketplace, Magic Eden, to offer a limited sale of its Access Passes. These co-branded passes, priced at 0.2 SOL (approximately $24) each, will grant users exclusive rewards and benefits for purchasing the DePIN-enabled virtual mobile app. — The APhone Access Passes, available exclusively on Magic Eden and limited to 5,000 units, will unlock a year's worth of premium APhone functionality for users. In addition to accessing the full suite of APhone features, purchasers will receive extra "10 key rewards" for each NFT…

BlockchainMay 9

'We Have Failed the Global South'

Ray Youssef, the former Paxful CEO, has commented on the negative impact of high transaction fees on bitcoin adoption in emerging markets. Youssef stated on social media that the recent developments in the bitcoin fee market have pushed users to alternatives such as USDT on the Tron blockchain over bitcoin in Global South countries. Noones CEO Ray Youssef Criticizes Bitcoin’s High Transaction Fees: ‘We Have Failed the Global South’ The issue of high fees has opened a debate about the current adoption of bitcoin in emerging markets. Ray Youssef, the former CEO of peer-to-peer exchange Paxful and current CEO of…

BitcoinMay 9

ETH Reverts to Inflationary Asset Following Fee-Reducing Dencun Upgrade

The recent Dencun upgrade lowered fees by 4x, on average. This led to less ETH being burned, thus reversing its status as a deflationary asset. Ethereum's recent Dencun upgrade, which was designed to reduce fees and help scale the network, has caused ether (ETH) to revert back to an inflationary asset -- potentially reversing one of the key benefits of the 2022 Merge. A CryptoQuant report reveals that Dencun has made transaction fees on Ethereum on average four times lower than they were before, but this also means that the amount of ETH getting burned has declined to one of…

EthereumMay 9

FTX creditors seek repayments at current market rates

Bankrupt crypto exchange FTX unveiled yesterday a new plan to pay out at least 118% of recognized claims to 98% of its creditors. However, the plan faces pushback from Sunil Kavuri, who speaks for the largest group of creditors. Kavuri has called for a rejection of the proposed restructuring, arguing that repayments should reflect the current market prices of assets, not their value at the time of FTX’s bankruptcy. FTX Plan Takeaways 1) Sullivan and Cromwell included exculpation clause so they + no one involved sued for misconduct 2) S&C puppet John Ray in charge with no accountability 3) Petition…

RegulationMay 9

Floki Surpasses $404,800 in Token Burns Within a Week

Floki, the cryptocurrency inspired by memes, has witnessed a remarkable milestone in its journey. Within a week, the platform burned over $404,800 in $FLOKI tokens. Following the burning of over $772,000 worth of $FLOKI tokens, this impressive achievement is a big step toward the platform’s goal of perpetual deflation. $Floki burning shows that the company is serious about money and scarcity, unlike meme-inspired cryptocurrencies like $DOGE, $SHIB, $PEPE, and $WIF. $404,800+ IN $FLOKI BURNED OVER THE LAST WEEK THROUGH STRONG UTILITY DEMAND A week after we announced that $772,000+ in FLOKI tokens was burned due to strong utility demand, an…

AltcoinsMay 9

Worldcoin Hopes to Resolve ‘Differences’ with Argentinian Authorities

Worldcoin officials want to smooth out their “differences” with Argentina regulators, with Tools for Humanity CEO Alex Blania visiting President Javier Milei’s advisors this week. Per a report from Infobae (via La Nueva Radio Suarez), Blania has recently met with several government officials. The media outlet explained that the Tools for Humanity chief met with Demian Reidel, a member of Milei’s Council of Advisors. Worldcoin Argentina Plans Hit Hurdle? Worldcoin has enjoyed considerable popularity in Argentina, where it reportedly operates over 50 iris-scanning centers. The media outlet Criptonoticias reported that “it is estimated that 3 million people” have “handed over…

LegalMay 9

Bitcoin Exchange Binance Announced That It Will Make Updates for Many Altcoin Trading Parities in Futures Trading!

Binance Futures, a leading cryptocurrency derivatives exchange, announced plans to delist and update leverage and margin tiers for a large number of USDⓈ-M perpetual contracts, signaling strategic adjustments to its trading offerings. Binance Futures Announces Delisting and Update of Several USDⓈ-M Perpetual Contracts Effective May 15, 2024 at 12:00 PM, Binance Futures will initiate the closing of all positions and automatic settlements for USDⓈ-M IDEXUSDT, SLPUSDT and GLMRUSDT perpetual contracts. Then, on May 16, 2024, at 12:00 pm, the exchange will conduct similar transactions for MDTUSDT and AUDIOUSDT perpetual contracts. These contracts will be delisted upon completion of settlements. In…

ExchangesMay 9