DeFI News by Thebittimes.Com

VK, one of the largest social media platforms in the Russian Republic, has announced plans to shut down its non-fungible token marketplace. The social media company will close its non-fungible token market next week, April 15, 2025. VK will join other notable companies, like X2Y2, Kraken, and Bybit Crypto Exchange, which have also shut down their NFT markets. VK Shuts Down Its NFT Marketplace In an April 7 site publication, the Kremlin-backed social media network VK confirmed plans to close its NFT platform, VK NFT Hub, this month. The social media company VK will end its service delivery for non-fungible tokens on April 15, 2025. The social media company has advised its users to transfer their non-fungible token collections to external crypto wallets before the deadline. 📢 VK will shut down its NFT Hub on April 15 following a $1.1B net loss in 2024, as the broader digital collectible space contracts. Users are advised to transfer assets.#NFT #Web3https://t.co/fNdCu5aSt...

James Butterfill expects Bitcoin to rally if the U.S. government shuts down. BTC has a history of performing quite well in times of uncertainty. The world’s largest cryptocurrency is already up close to 4.0% today. Bitcoin will likely rally if the U.S. government does indeed shut down on October 1 st , says James Butterfill – the Head of Research at CoinShares. Why may BTC rally on shutdown? The world’s largest cryptocurrency by market cap is already up close to 4.0% on Thursday as the U.S. government started sending out notifications to federal employees that a shutdown may be imminent. And that rally may extend when the shutdown actually begins, as per CoinShares’ Butterfill.  Because the investors could read the funding lapse as a sign of instability and turn to Bitcoin for refuge. This scenario bears resemblance to the debt ceiling stalemate experienced earlier this year, which ended up bolstering Bitcoin prices. Bitcoi...

With the U.S. government shutdown on the horizons, the crypto market faces growing uncertainty amid key economic events, challenging traditional investment norms. Following the FOMC meeting on Sep.19, Bitcoin (BTC) and other cryptocurrencies face upcoming macroeconomic events this week, with Thursday spotlighting the Q2 U.S. GDP data, predicted at 2.1%. Concurrently, a key highlight will be Fed Chair Powell’s speech, shedding light on the Fed’s economic perceptions and possible policy shifts. Key Events This Week: 1. Consumer Confidence data – Tuesday 2. Building Permits/New Home Sales data – Tuesday 3. Q2 GDP Data – Thursday 4. Pending Home Sales data – Thursday 5. Fed Chair Powell Speaks – Thursday 6. August PCE Inflation data- Friday 7. Total of 6 Fed… — The Kobeissi Letter (@KobeissiLetter) September 24, 2023 The week rounds off with the U.S. Core PCE Price Index, a consistent inflation indicator that’s been oscillating aro...