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.

Marathon Digital boosts Bitcoin production by 21% YoY in April, defies halving challenges

Marathon Digital reported a significant year-on-year surge in its Bitcoin production last month, defying expectations surrounding the halving event. Bitcoin production increase In its April operational report, Marathon revealed that it produced 850 BTC, marking a notable 21% increase on the year-on-year metrics. This uptick is primarily attributed to the 15% boost in its operational hashrate, now standing at 21.1 exahash. The launch of the Runes Protocol and the Bitcoin halving event, which reduced miners’ rewards to 3.125 BTC per block, will have had a marginal impact on the data, with less than one month since the events. Nonetheless, Marathon’s…

MiningMay 3

This Bearish Indicator Could Signal Start of Major Bitcoin Price Downturn

Well-known cryptocurrency trader Josh Olszewicz has spotted the Tenkan/ Kijun crossover on Bitcoin's daily chart. The bearish signal could indicate the start of a bearish trend. In order to calculate the Tenkan Sen, the highest high and the lowest low in price have to be divided in two over the past nine periods. This line can typically serve as a short-term support level during an uptrend, meaning that the price could potentially find some buying interest there. At the same time, it can also serve as a short-term resistance level if a certain asset is in a downtrend. The Kijun…

BitcoinMay 3

If the SEC Thinks Ethereum Is a Security, Are ETH ETFs Doomed?

Will the SEC approve an Ethereum ETF this year? Optimism among market participants is fading—and now that the SEC’s stance on Ethereum as a security has been made public, those hopes may have been shot down for good. “If this SEC approves a spot Ethereum ETF before the election, I will eat my HODL hat,” Matthew Sigel, head of digital assets research at Van Eck, an Ethereum ETF applicant, told Decrypt. That’s because of a lawsuit filed last week by Ethereum software company Consensys against the SEC, which revealed that the Commission believes Ethereum (ETH) to be an unregistered security—and…

EthereumMay 3

Coinbase cross-selling on display during impressive Q1

Analysts said it would be a strong quarter for Coinbase. Boy, were they right. The crypto exchange saw a storm (the perfect kind, for its purposes) come together in the first three months of 2024 as bitcoin’s price reached new ground. Coinbase’s ability to cross-sell its products is its “superpower,” according to Alyssa Choo, crypto equities specialist at Bitwise Asset Management. While the crypto price rallies and launch of spot bitcoin ETFs made it a favorable environment for the company, the second quarter could prove a tougher period to post the same kind of numbers. Coinbase had a higher adjusted…

RegulationMay 3

'Bitcoin Senator' Cynthia Lummis Blasts DOJ Stance on Private Crypto Wallets

United States Senator Cynthia Lummis (R-WY) has stated that she is "deeply troubled" by the Department of Justice's (DOJ's) stance on non-custodial software. In a tweet, Lummis expressed concern at the DOJ's "hyper-aggressive argument that non-custodial software can constitute a money transmission service." She added that the DOJ's stance "contradicts existing Treasury guidance," and "violates the rule of law." "Arguments against self-custody software threaten the fundamental property rights that are core to being an American," Lummis said, adding that she will fight "for your rights to hold your own keys and run your own node." She further accused the Biden…

LegalMay 3

Swiss Exchange SIX Partners with Dubai Financial Market for Dual Listings

The Swiss Financial Market Infrastructure Group (SIX) has inked a partnership deal with the Dubai Financial Market (DFM) to explore dual listing opportunities, establish central securities depository links, and enhance investor accessibility between the two platforms' exchanges. A key aspect of the collaboration, which was announced during the Capital Market Summit, is evaluating potential dual or cross-listing opportunities for products. It allows investors to transfer shares between exchanges. Additionally, this initiative seeks to simplify the process for companies seeking to raise capital, broaden market access, and bolster investment prospects for participants in both regions. Bjørn Sibbern, the Global Head of…

ExchangesMay 3

Gold May Have Just Signaled End of Bitcoin (BTC) Rally, According to Analyst Benjamin Cowen – Here’s What He Means

A widely followed crypto analyst says that gold may just have signaled the local top of Bitcoin’s (BTC) recent strength. In a new video update, crypto strategist Benjamin Cowen tells his 800,000 YouTube subscribers that if gold continues to do well, the top crypto asset by market cap may be in for a an extended correction “At least so far, you can see that the breakout of gold in 2019 marked the top locally for Bitcoin. Bitcoin did go higher obviously a year later. But even [this year], you can see gold broke out right when Bitcoin/USD found that local…

BitcoinMay 3

Ethereum Price Revisits Key Support, Can Bears Take Over?

Ethereum price started another decline and traded below $2,920. ETH could gain bearish momentum if there is a close below the $2,800 support zone. Ethereum remained in a bearish zone and traded below the $2,900 zone. The price is trading below $2,950 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $3,050 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if it stays below the $3,050 resistance. Ethereum Price Extends Losses Ethereum price remained in a bearish zone below the $3,120 level, like…

EthereumMay 3

Horizen launches testnet for modular proof verification chain

Horizen, a prominent player in the blockchain space, has achieved a major milestone with the deployment of the testnet of its proof verification chain. This advancement represents a significant step forward in redefining blockchain efficiency through innovative technologies such as ZK proof verification and settlement layers. Horizen’s proof verification chain The introduction of Horizen’s proof verification chain on testnet marks a groundbreaking development in the realm of blockchain technology. It is the first of its kind in the web3 space. At its core lies a revamped mainchain powered by Substrate, providing a robust foundation for the network’s operations. The proof…

AltcoinsMay 3

Block whistleblower says firm ignored compliance, allowed terror groups

Jack Dorsey’s fintech firm Block is being probed by federal prosecutors after a former employee claimed that “everything in its compliance section was flawed” and that it’s “led by people who should not be in charge of a regulated compliance program.” As reported by NBC, the whistleblower also claimed that Block and its business units Cash App and Square transacted crypto for terrorists, facilitated payments for sanctioned countries, and flouted compliance protocols. The whistleblower — a former Block employee — reportedly provided 100 pages of documents to prosecutors from the Southern District of New York that show the alleged malpractice.…

LegalMay 3