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.

Top Lawyer Takes on Gensler Over Cryptos

Following United States Securities and Exchange Commission (SEC) Chairman Gary Gensler's recent comments on cryptocurrencies, Coinbase's Chief Legal Officer Paul Grewal has reacted, disputing the SEC chair's stance. In a recent interview, Gensler noted that the agency is simply a "cop on the beat" when it comes to policing the cryptocurrency business. The SEC chairman talked on CNBC a day after Robinhood revealed that it had gotten a Wells notice from the U.S. securities regulator. Gensler stated that the cryptocurrency industry consists of a variety of digital assets that qualify as securities "under the law of the land, as interpreted"…

LegalMay 9

When is full recovery not a full recovery? FTX

The FTX debtors in possession have announced a new reorganization plan that would result in nearly every single creditor getting recovery of their full claim amount plus additional interest, according to court documents. Additionally, the plan would resolve claims from the Internal Revenue Service and the Commodity Futures Trading Commission, and potentially allow for restitution from the Department of Justice fines to be paid to creditors. The press release issued by the debtors in possession highlights that most of this recovery has come from ‘proprietary investments held by the Alameda or FTX ventures businesses.’ It’s the sale of those assets…

ExchangesMay 9

AI Predicts China Will Ban High-Energy Blockchains

China, known for its significant share of the global cryptocurrency mining industry, has been grappling with the environmental ramifications of its burgeoning blockchain sector. With concerns over carbon emissions and energy consumption on the rise, regulatory bodies are under pressure to address these issues. In a bid to understand the future landscape of this burgeoning sector, we consulted three leading AI platforms—ChatGPT, Google Gemini, and Microsoft Copilot—to predict the fate of eco-friendly digital currencies, often termed “green cryptocurrencies.” Regulations on Big Crypto Energy The focus on sustainability has prompted governments worldwide to scrutinize the environmental impact of cryptocurrencies. Forthcoming regulations…

BlockchainMay 9

A Game-Changing Bridge Between Bitcoin and DeFi

Core Chain Builders has announced a groundbreaking development in the world of decentralized finance (DeFi) with the introduction of coreBTC, a wrapped Bitcoin (BTC) asset designed to seamlessly integrate Bitcoin into the DeFi ecosystem without compromising security or decentralization. Bridging Bitcoin, the world’s leading cryptocurrency, to the DeFi landscape has long been a challenge. While DeFi offers innovative financial services built on blockchain technology, Bitcoin’s architecture has presented hurdles due to its different design and security features. The conventional method of wrapping assets involves locking the original asset on its native blockchain and creating a synthetic version on another chain.…

BitcoinMay 9

It's Not a Token Offering, It's a 'Node Sale': Sophon Blockchain Raises $60M

Sophon, an entertainment-focused blockchain ecosystem, raised more than $60 million in a node sale, an increasingly popular type of fundraising method. Node sales, described as a way of helping to decentralize projects, are structured in pricing tiers, where the longer buyers wait, the more they have to pay. The project is built on zkSync's technology, using a data solution provided by Celestia. It's the blockchain industry's latest innovation – not in technology, but in rounding up cash from investors. Sophon, an entertainment-focused blockchain ecosystem, has attracted more than $60 million in a node sale – a novel form of project…

RegulationMay 9

Litecoin adds 90,000 new wallets ahead of Bitcoin (BTC) halving

On-chain stats show a surge in new users joining the Litecoin (LTC) network ahead of the imminent Bitcoin halving, an event poised to trigger significant price actions for proof-of-work projects. Santiment’s data shows active Litecoin holder wallets surged from 7.92 million to 8.01 million between 29 February and 25 March, reflecting an astounding 90,000 address increase. LTC holders & price on Santiment Besides confirming an uptick in new users, the funded wallet influx indicates fresh cash entering the Litecoin ecosystem. Bitcoin halving effect Experts speculated that crypto miners will jump to other proof-of-work networks after the April halving. The event…

AltcoinsMay 9

Legal Blow for Cristiano Ronaldo as Judge Denies Dismissal Motion

In a legal blow to Cristiano Ronaldo, the famed Portuguese soccer star, the judge overseeing the $1 billion class action lawsuit against him has rejected his motion to dismiss the case. The lawsuit, filed in Florida, accuses Ronaldo of endorsing Binance, the world's largest cryptocurrency exchange, which allegedly led investors into making costly and risky investments. Judge Roy Altman's ruling, issued on May 4, followed a request from the plaintiffs to stay proceedings until a ruling on a motion to compel arbitration. Simultaneously, the judge denied Ronaldo's motion to dismiss the case, stating, "We deny without prejudice the Defendant's 29…

LegalMay 9

Alchemy Pay Partners with Bitget to Streamline Crypto Purchases in India

A recent development has occurred in the crypto world as Alchemy Pay, a leading payments provider, has partnered with Bitget, a major crypto exchange and Web3 company. As a result, the process of buying cryptocurrencies in India has been simplified, reflecting the innovative spirit of Alchemy Pay and Bitget’s efforts to extend its services to the broader world. 🔥#AlchemyPay has joined forces with @bitgetglobal to enhance services for Indian users seeking seamless crypto purchase using local fiat currency Indian Rupee (INR), further enhancing accessibility for local users. 👉https://t.co/On4B0SuPmE$ACH pic.twitter.com/YLj3MRr4ey — Alchemy Pay|$ACH: Fiat-Crypto Payment Gateway (@AlchemyPay) May 8, 2024 Alchemy…

ExchangesMay 9

MEV collected by validators is now higher on Solana than on Ethereum

Solana’s validators are a bit like baristas flipping around an iPad — they’re nicer to you when you include a tip. And as traders keep cramming into Solana’s metaphorical coffee shop, the validator tip jar looks increasingly stuffed with money. Validators are a group of 1,728 computers that run software to produce blocks on the Solana blockchain. Coinbase Cloud is a prominent Solana validator, as is Google Cloud. One revenue stream that validators earn is called maximal extractible value (MEV), which refers partly to tips paid by searchers to be included in Solana blocks. This MEV revenue has been growing…

BlockchainMay 9

The Voice lands on The Sandbox metaverse

The famous TV show The Voice lands on the Sandbox metaverse with “The Voice Coach Battle”. Fans will be able to participate in the Web3 game or even choose to play with season 25, now airing on NBC, with the chance to win prizes like 15,000 SAND. The Voice: the TV show goes on the Sandbox metaverse and becomes a Web3 game The Voice Coach Battle: the TV game becomes Web3 in the Sandbox metaverse Even Hackatao has chosen The Sandbox The Voice: the TV show goes on the Sandbox metaverse and becomes a Web3 game The Sandbox, a famous…

MetaverseMay 9