Author: NBTC

Stocks moved higher while cryptocurrencies just barely managed to stay in the green Thursday afternoon in New York as Federal Reserve Chairman Jerome Powell wrapped his two-day tour on Capitol Hill. The S&P 500 and Nasdaq Composite were bolstered by comments from Powell that the rate at which inflation has fallen has been a pleasant surprise. They gained 1.2% and 1.7%, respectively, toward the end of Thursday’s trading session. “It’s not consistent with the historical record, but it’s a really positive thing,” Powell told the Senate Banking, Housing and Urban Affairs Committee Thursday. Read more: Crypto PAC-backed candidates sweep in…

The Shiba Inu team’s leading specialist in social media marketing known to the community as Lucie has published a tweet, addressing the issue of Shibarium Shiba Inu burns. These token burns are supposed to be made by the developer team. They started in late November and then continued in December and January. However, since then, they have not burned any SHIB tokens. Shiba Inu enthusiasts often ask what is happening and when these meme coin burns will resume. Lucie has cited the mysterious founder of SHIB, Ryoshi, on this issue. Ryoshi’s message cited by Shiba Inu’s marketing lead Lucie was…

SEC Commissioner Hester Peirce, published a hot and spicy take this week on the SEC’s recent settlement with ShapeShift. (Read her full dissent here.) Pierce, of course, is one of the most outspoken critics of the SEC’s attitude toward crypto assets, and this passage in her dissent is so funny that I have to print it in its entirety. The SEC’s mantra—“Just come in and register”—is manifestly unsatisfying. One can imagine the dialogue for that scene in a future episode: Future ShapeShift (“FSS”): Hello, I would like to register as a dealer. SEC: Why? FSS: Because I think some of…

Prominent crypto tokens tied to video games and gaming chains have skyrocketed in value so far this weekend, with some hitting new all-time high prices and others rising to their highest point in years—all while Bitcoin briefly returned to the $70,000 mark. The Gala ecosystem’s GALA token is the biggest winner in this weekend’s surge for gaming and metaverse coins, with the price jumping 42% over the last 24 hours alone to nearly $0.08 at present, per data from CoinGecko. It nearly hit $0.085 earlier Sunday and is now up 77% on the week and 230% over the last month.…

BlackRock, a global leader in asset management, is in the process of seeking regulatory approval to incorporate spot Bitcoin exchange-traded funds (ETFs) into its Global Allocation Fund, known as MALOX. The firm updated its filing with the United States Securities and Exchange Commission (SEC) on March 7, outlining its intention to invest in physically-backed Bitcoin exchange-traded products (ETPs), including its own iShares Bitcoin Trust (IBIT) and those offered by other issuers. The move indicates BlackRock’s interest in enabling its fund to invest directly in Bitcoin through national securities exchanges. The BlackRock Global Allocation Fund, established in 1989, aims to generate…

Reddit could trade later this month, according to reports. The company, which released its S-1 late last month, is reportedly looking to price on March 20, meaning it could trade as soon as the next day, according to the Financial Times. Reddit is looking to price between $31 and $34 a share, the report added. Those prices would mean a valuation of around $6.5 billion. Bloomberg reported in 2022 that the company’s valuation could be as high as $15 billion. The company will list its shares on the New York Stock Exchange under the ticker RDDT. The company’s public debut…

A close study reveals that global trading volume on Shiba Inu (SHIB) surpasses most major altcoins, including Dogecoin, XRP and Cardano. Shiba Inu is one of the best-performing altcoins in recent weeks. The meme-inspired cryptocurrency climbed into the top ten cryptocurrencies by market capitalization and briefly threatened to overtake Dogecoin. However, data that often goes under the radar is how Shiba Inu’s trading volume compares to other cryptocurrencies. Shiba Inu is one of the most widely traded cryptocurrencies, especially during periods of peak market performance The latest market data on CoinMarketCap supports this stance, with Shiba Inu seeing $5.5 billion…

US prosecutors are set to challenge the Montenegrin High Court’s decision to send Do Kwon to South Korea, raising the potential for another U-turn in the Terraform Labs founder’s extradition process. On Thursday, the court approved Kwon’s extradition to South Korea with even Kwon’s lawyers admitting that it was his most likely destination on March 23. However, the US Justice Department told Bloomberg the same day that it will also continue to pursue Kwon’s extradition. It said, “The United States appreciates the cooperation of the Montenegrin authorities in ensuring that all individuals are subject to the rule of law.” Do…

The crypto and NFT gaming space is busier than ever lately, what with prominent games starting to release, token airdrops piling up, and a seemingly constant array of other things happening at all times. It’s a lot to take in! Luckily, Decrypt’s GG is all over it. And if you need a quick way to get caught up on the latest moves around crypto video games, we’re debuting This Week in Crypto Games. Our weekend roundup serves up the biggest news from the past week, along with a few other tidbits you might have missed. We also showcase a few…

Bitcoin is 3.7 times more volatile than gold. If the crypto were to match gold in risk capital terms it implies a price of $45,000. The net inflow into spot bitcoin ETFs is about $9 billion. If bitcoin (BTC) were to match gold’s allocation in investor portfolios, its market cap should rise to $3.3 trillion, implying a more than doubling of its price, but that probably won’t happen because of the cryptocurrency’s risk and heightened volatility, JPMorgan (JPM) said in a research report. Gold is the best comparison for the cryptocurrency given investor perception of bitcoin as a digital version…