Author: NBTC
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…
For the second time this month, Binance has recorded an influx of stablecoins surpassing $1.5B as well as large outflows of Ethereum. Both outcomes reflect investor confidence that coincides with bullish BTC price action. The large inflow of stablecoins on Binance coincides with aggressive ETH withdrawals, hinting at an exciting future for crypto. ETH daily inflow chart. Source: CryptoQuant However, analysts have also noted that Bitcoin’s Taker Buy Sell Ratio indicator, adjusted with a 30-day moving average, just recently reached its lowest level since November 2021, a time marked by the historic peak of the previous cycle. Binance sees action…
Over the weekend, there was a rush for the exits from the world’s largest Proof-of-Stake blockchain. As of 20:00 UTC Sunday evening, staters queued up 893,599 ether (ETH) to unstake their $4 billion out of the Ethereum network. Ethereum limits the quantity of ETH that may unstake per 6.4 minute epoch. If more ETH is being unstated than what can be processed in the upcoming epoch, extra ETH must wait in queue. As of 2:00 UTC Sunday morning, Ethereum’s unstaking wait time also lengthened to its worst validator queue in history: 15.5 days. Source: ValidatorQueue.com There was one leading explanation…
Several public companies are driving head straight into digital assets with funds specifically allocated to create treasuries of Bitcoin and other cryptos. After the US Securities and Exchange Commission (SEC) approved spot Bitcoin ETFs in January 2024 to change Wall Street’s perspective on digital assets, institutional total holdings have so far surpassed $100 billion. Over the past six months, more than 152 publicly traded companies now control more than 950,000 Bitcoins, worth over $110 billion, according to Bitcoin Treasuries.net. For some, the motivation lies in diversifying balance sheets, hedging against inflation, or appealing to younger investors. But for others, crypto…
A massive coalition of tech lobbying groups and crypto companies jointly issued a letter to the Senate Banking Committee Wednesday, warning they will collectively protest an upcoming crypto market structure bill unless it features key legal protections for software developers. “We […] speak to Congress with one voice: provide robust, nationwide protections for software developers and non-custodial service providers in market structure legislation,” the letter reads. “Without such protections, we cannot support a market structure bill.” A total of 114 parties signed the letter, including Andreessen Horowitz, Coinbase, DCG, Grayscale, Kraken, Paradigm, Solana Labs, and Uniswap Labs. Numerous lobbying groups…
Thailand’s Ministry of Finance has tapped KuCoin as the first international crypto exchange to join a consortium supporting its G-Token initiative, the world’s first publicly offered tokenized government bond. KuCoin Thailand, the exchange’s locally regulated arm, will handle subscriptions, redemptions, and listings alongside partners XSpring Digital, SIX Network, and Krungthai XSpring. The bonds will initially be listed on licensed domestic exchanges, with the potential for a listing on KuCoin’s global platform, pending regulatory approval. The initial issuance amounts to 5 billion baht (US$153 million), with the program aimed at widening retail investor access to sovereign debt. “Our selection as…
Leading altcoin Ethereum has trended downward since its failed attempt to reclaim its all-time high on August 13. As sell-side pressure strengthens amid increased profit-taking, ETH’s price has slipped 10% in the past five days and is expected to continue declining. Ethereum Bears Gain Control ETH’s long/short ratio has dropped to a 30-day low, reflecting traders’ growing caution and a decline in bullish sentiment. As of this writing, this ratio stands at 0.90. For token TA and market updates: Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here. ETH Long/Short Ratio. Source: Coinglass…
Donald Trump Jr., the eldest son of US President Donald Trump, made remarkable statements about the future of cryptocurrencies in an interview. Donald Trump Jr.: “Cryptocurrencies Will Be the Future of Finance” Trump Jr. stated that his interest in crypto is not due to his technical knowledge, but rather their exclusion from the traditional financial system. “A few years ago, with just one phone call from me in this city, almost no bank would refuse to lend to my real estate projects. “However, after we were given political identity, we became ‘persona non grata’ overnight,” Trump Jr. said, adding that…
The crypto industry’s Washington lobbyists are trying to draw a line in the sand over the market structure bill that’s steaming through the U.S. Senate, saying they can’t back a law that wouldn’t fully protect software developers from being held responsible for bad actors abusing their technology. The industry made its case to the Senate’s Banking and Agriculture committees “with one voice,” sending a letter Wednesday signed by Coinbase, Kraken, Ripple, a16z, Uniswap Labs and more than a hundred other crypto businesses and organizations, including almost all of the major U.S. lobbying groups. This unified effort comes the week before…