NFT News by Thebittimes.Com

BlackRock Inc. (NYSE: BLK) is the largest asset manager in the world, and the cryptocurrency market enthusiastically awaits a US spot Bitcoin ETF. Bitcoin (BTC) investors and analysts speculate on the effects of an expected approval of this financial product that is still under the SEC’s review. Interestingly, the public document sent to the regulators discloses different risks related to the ETF. Among the “Risk Factors,” BlackRock mentions an indirect exposure to stablecoins such as Tether USD (USDT) and Circle USD (USDC). “While the Trust does not invest in stablecoins, it may nonetheless be exposed to risks that stablecoins pose for the bitcoin market and other digital asset markets.” — BlackRock Following this introductory disclosure, the company explains what a stablecoin is and that its “market value may fluctuate.” According to BlackRock, this observed volatility exists despite the protocol’s mechanism to keep the token’s price “stable” against its pegged asset or currenc...

Prime Trust has been placed in receivership following a Nevada court approval of a petition against it. The crypto custody firm owes clients millions of dollars in fiat and crypto. Prime Trust, a once-bubbling digital assets custody firm, has officially been placed in receivership by Nevada authorities. Insolvent or near-insolvent companies are placed in receivership mode to enable the smooth running of the outfit by an authorized entity and realize its assets for debt repayments. John Guedry has been appointed as the Prime Trust receiver. The Nevada Financial Institutions Division (FID) petitioned for receivership of Prime Trust in June, citing operational instability and insolvency risks .  The court has put Prime Trust in receivership pending a hearing in August.  You might also like: Nevada regulator petitions for receivership of Prime Trust Prime Trust’s issues Prime Trust’s woes reportedly began in late 2021 when the company lost access to some of its crypto w...

ApeCoin price has rallied 50% in the last three weeks but a sell-the-news event risks wiping out those gains. The multi-week ApeCoin (APE) market rally is nearing exhaustion owing to a mix of technical and fundamental factors. Fundamental — ApeCoin Staking launch  In the past two weeks, APE's price is up over 50% after bottoming at around $2.60. The APE/USD rebound came in line with similar recovery moves elsewhere in the crypto market. But, it outperformed top assets, including Bitcoin (BTC) and Ether (ETH), as traders pinned their hopes on ApeCoin's staking debut. The ApeCoin Staking feature will debut on Dec. 5 at apestake.io, according to its developer Horizon Labs. It will allow users to lock their APE holdings into four Staking pools — ApeCoin pool, BAYC pool, MAYC pool, and Paired pool — that will allow them to earn yield periodically. The feature announcement has resulted in a rise in the APE holders' count, according to data tracked by Dune Analytics. Notably, it...