Author: NBTC
US prosecutors appealed the sentences of time served given to the co-founders of HashFlare, a crypto mining service and $577 million Ponzi scheme. Prosecutors told a Seattle federal court on Tuesday that the government was appealing the sentences handed down earlier this month to Sergei Potapenko and Ivan Turõgin. Potapenko and Turõgin were in custody for 16 months in their native Estonia after their arrest in October 2022 and were extradited to the US in May 2024, where they pleaded guilty to conspiracy to commit wire fraud. The government had argued that the pair should get 10 years in prison,…
Ethereum risks over $1 billion liquidation if price falls below $4,000 support zone. Liquidation trackers show $536 million wiped out, with Ethereum leading at $212.9 million. Ethereum’s breakdown may trigger a wider crypto sell-off, putting entire market under serious pressure. Ethereum (ETH), the second-largest cryptocurrency, has seen a sharp pullback, dropping nearly 5% to around $4,270. The dip came as traders reacted to global economic news, shifting Federal Reserve expectations, and a wave of liquidations that shook the market. With ETH now hovering around $4200, a drop could lead to $1 billion in liquidation and more, which could lead to…
CoinDCX CEO Sumit Gupta believes Web3 could become a cornerstone of India’s digital economy. In a post on X, Gupta projected that the sector could add $1.1 trillion to India’s GDP by 2032. He pointed to the country’s growing developer base and startup ecosystem as evidence of its readiness to lead. India already has more than 1,000 Web3 startups. The country also accounts for over 12% of the world’s crypto developers, according to Gupta. These numbers, he argued, show that India can build its own blockchain protocols, wallets, and exchanges instead of depending on global players. Gupta described Web3 as…
Law and Ledger is a news segment focusing on crypto legal news, brought to you by Kelman Law – A law firm focused on digital asset commerce. The following opinion editorial was written by Alex Forehand and Michael Handelsman for Kelman.Law. A Look at RWA Regulatory Policy The tokenization of real-world assets (RWAs) has emerged as one of the most promising applications of blockchain technology. By representing traditional assets—such as real estate, commodities, or financial instruments—on-chain, tokenization offers the potential for greater liquidity, fractional ownership, and more efficient settlement. Yet despite its appeal, the legal landscape remains complex, particularly as…
Due to the exit of large holders from leveraged positions, Ethereum market sentiment could be on the verge of a switch. Whale address 0x89Da has recently closed a sizable long position of 21,683 ETH, which is worth roughly $93 million, according to on-chain data. Losses piling up For one of the more active addresses in the derivatives space, the trade resulted in a significant hit with a realized loss of approximately $6.6 million. The same whale indicated a full withdrawal from Hyperliquid after the closure by withdrawing all 9.6 million USDC. Due to Hyperliquid’s popularity as a venue for leveraged…
FOMC’s August 20 meeting could shape crypto market direction, with traders watching closely. Meanwhile, CME FedWatch Tool shows 83% chance of a 25-basis-point rate cut soon. However, Powell’s Jackson Hole speech may clarify Fed’s stance, fueling crypto optimism or disappointment. The upcoming Federal Reserve meeting on August 20 could decide how the crypto market moves in the weeks ahead. On top of it, Fed Chair Jerome Powell’s Jackson Hole speech may hint at a possible September rate cut. Many crypto experts are now wondering how digital assets might react to the Fed’s next decision. Fed Signals a Rate Cut Is…
The world of cryptocurrency, often seen as a frontier of innovation, occasionally confronts stark reminders of traditional challenges, like corruption. Recently, a significant legal development in South Korea brought this into sharp focus: a former police officer faced a severe sentence for his involvement in a Queenbee token bribe scandal. This case isn’t just about a single individual; it’s a crucial signal about the growing need for integrity and accountability within the digital asset space and among those tasked with upholding the law. Unpacking the Queenbee Token Bribe Scandal The details surrounding the Queenbee token bribe are quite clear. A…
Ethereum prices slipped after hitting a near record last week, with analysts warning that a surge of unstaked coins could weigh on the market later this month. The cryptocurrency rose from $3,698 at the start of August to $4,788 last Thursday, its highest level in four years. But as of 9 am UTC on Monday, it had dropped to $4,260 — a 10% pullback after an almost 30% two-week rally. ETH Unstaking Wait Time Jumps from 25 to 40 Days The sharp gains triggered heavy unstaking activity. On-chain data provider Rated said that on Aug 9 alone, the Ethereum exit…
A high-profile rumor is circulating in the crypto sphere: Is Gemini, the well-known crypto exchange founded by the Winklevoss twins, tapping into Ripple’s funding sources as it prepares for its anticipated Initial Public Offering (IPO)? Let’s investigate what’s accurate, what’s exaggerated, and what’s confirmed by the official filings. Who Started the Claim? The speculation grew after Gemini filed its S-1 IPO registration with the U.S. SEC, which revealed several strategic funding maneuvers as the exchange gears up for a public debut. Several news outlets, social media, and crypto forums suggested that Ripple Labs is directly funding Gemini’s IPO bid. But…
The South Korean crypto space is buzzing with a truly shocking development: Delio rehabilitation efforts are back in the spotlight. Despite a clear bankruptcy ruling from the Seoul Bankruptcy Court in November 2024, the crypto deposit platform Delio has once again filed for corporate rehabilitation. This marks its third attempt, following two previous dismissals, as reported by Digital Asset. This latest move adds another layer of complexity to an already tumultuous situation for the company and its many creditors, creating significant uncertainty in the market. What is This Delio Rehabilitation Bid All About? Delio, a prominent South Korean crypto deposit…