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.

Ethereum (ETH) Remains Steadfast Toward a Rally to $4,000

Ethereum (ETH) price witnessed a fate similar to the rest of the crypto market when the altcoin slipped below $3,000. This, however, has only further validated the bullish pattern ETH has been stuck in. Closing in on a potential breakout in the next few trading sessions, the altcoin is exhibiting the ideal conditions for accumulation. Ethereum Selling Slows Down Investors need to exhibit optimism for a substantial bounce back in Ethereum’s price, as seen in parts of the recent shift in behavior. The exchange net position change shows that ETH outflows have halted in the last 24 hours as investors…

EthereumMay 3

Senator Cynthia Lummis Criticizes US Authorities’ Crackdown on DeFi

Senator Cynthia Lummis has expressed significant concerns over the Biden administration’s recent measures targeting the decentralized finance (DeFi) sector. She challenges the Department of Justice’s (DOJ) interpretation that non-custodial software platforms, such as digital wallets, should be regulated as money transmission services. Senator Lummis Commits to Fight For DeFi According to Lummis, this perspective contradicts Treasury guidelines. It also infringes on fundamental American principles of property rights and the rule of law. “I am deeply troubed by the Department of Justice’s hyper-aggressive argument that non-custodial software can constitute a money transmission service contradicts existing Treasury guidance, common sense, and violates…

LegalMay 3

CryptoQuant CEO sees no signs of Bitcoin miners capitulation ‘for now’

Despite the drop in revenue for Bitcoin miners to levels last seen in early 2023, they are holding onto their holdings rather than selling, CryptoQuant says. Bitcoin miners are not selling their crypto holdings at current prices even though their revenue has dropped to levels last seen in early 2023 due to the recent halving, which reduced fixed block rewards from 6.25 BTC to 3.125 BTC. #Bitcoin miners' revenue has dropped to levels seen in early 2023 following the halving. Now they have two options: 1. Capitulation, or 2. Waiting for a rise in $BTC price. There are no signs…

BitcoinMay 3

Ethereum Name Service challenges Unstoppable Domains’ patent

Ethereum Name Service (ENS) has petitioned the United States Patent and Trademark Office (USPTO) to challenge the validity of a patent obtained by Unstoppable Domains (UD) in 2023. ENS claims that UD’s patent utilizes technology that ENS had developed and open-sourced. In a statement on social media platform X, ENS explained that UD obtained a patent for technology that ENS Labs developed with the intent of being open-source. ENS Update 🧵: In 2023 Unstoppable Domains (UD) obtained a patent for technology ENS Labs developed as open-source. Today, we petitioned USPTO to challenge the validity of that patent, and to ensure…

EthereumMay 3

Transaction Fees Now Can Be Paid With Stablecoins

Celo, a low-fee, usability-focused blockchain network, has approved a proposal to allow transaction fees to be paid with stablecoins. Network users can now transact only by holding USDC in their wallets, abstracting the complexity of holding other tokens. This also benefits newcomers, making it easier for them to make transactions. Celo Aims for Usability in Stablecoin Gas Push Celo, a low-fee, transaction-focused blockchain, is advancing moves to become the home for cryptocurrency stablecoins. After welcoming USDT and USDC as native stablecoins in its platform, seeking to onboard value-aware users, the platform has approved using USDC for paying sub-cent transaction fees.…

AltcoinsMay 3

Ripple v. SEC court case update as of May 2, 2024

With the cryptocurrency sector at the edge of its seat regarding the final outcome of the courtroom standoff between the United States Securities and Exchange Commission (SEC) and Ripple, the regulator has filed its opposition to the blockchain company’s Motion to Strike its new expert materials. Indeed, after Magistrate Judge Sarah Netburn set the schedule for the two sides to argue the use of the SEC’s expert materials, the securities watchdog has filed its opposition to Ripple’s reasoning, according to the X posts by defense attorney and popular commentator on the case, James K. Filan on April 29. #XRPCommunity #SECGov…

LegalMay 3

Will the US, Hong Kong, and Australia Bitcoin ETFs Spark 8-Year Gold-Like Bull Rally?

Since the US Securities and Exchange Commission (SEC) approved spot Bitcoin exchange-traded funds (ETFs) on January 11, 2024, the crypto market has experienced a significant recovery. This culminated on March 14, 2024, when Bitcoin (BTC) reached a new all-time high (ATH) of $73,737. This uptrend isn’t confined to the US alone. Hong Kong just launched its spot Bitcoin and Ethereum ETFs, while Australia is preparing to launch its own versions of spot Bitcoin ETFs. The global enthusiasm mirrors the community’s optimistic view of Bitcoin as not just a currency but a potential digital counterpart to gold. Can Bitcoin ETFs Help…

BitcoinMay 3

Saylor predicts SEC will designate Ethereum as a security and deny spot ETF applications this summer

MicroStrategy executive chairman and co-founder Michael Saylor believes the SEC will classify Ethereum as a security this summer and reject the related spot ETF applications filed by various asset managers, including BlackRock. Saylor made the prediction in a social media post on May 2 during a presentation at the MicroStrategy World 2024 conference. He further predicted that other cryptos “down the stack” will also gain an unregistered security designation, including BNB, Solana (SOL), XRP, and Cardano (ADA). Saylor said: “None of them will be wrapped by a spot ETF, none of them will ever be accepted by Wall Street…” Saylor…

EthereumMay 3

Dogecoin Founder Predicts Pessimistic Future Under AI Rule

Billy Markus, known on the Twitter/X social media platform as “Shibetoshi Nakamoto,” is a software engineer who created the iconic meme cryptocurrency DOGE in 2013, together with Jackson Palmer. AI to start replacing people's jobs: Markus Markus is a frequent Twitter/X user who has a substantial influence on the cryptocurrency community, who publishes posts not only about DOGE, Bitcoin and other cryptos but also on other issues – politics, social commentary, etc. Today, Shibetoshi Nakamoto took to his handle to raise a discussion about artificial intelligence. Markus seems to have a pessimistic view of the future that AI is going…

AltcoinsMay 3

Binance Nigeria Money Laundering Trial Delayed to May 17, Gambaryan Family Spokesperson

Binance and Nigeria's money laundering trial has been delayed to May 17, a family spokesperson of the detained executive told CoinDesk. Tigran Gambaryan is waiting in Kuje prison for a bail hearing set to also occur on May 17. Binance Nigeria's money laundering trial has been delayed to May 17, a spokesperson for the family of detained executive Tigran Gambaryan said on Thursday. The trial was expected to occur today but was pushed back. Reuters reported that Binance’s lawyer complained in court that he had not been served with the additional proof of evidence that he needed to prepare the…

LegalMay 3