Author: NBTC
Elon Musk envisions the Department of Government Efficiency (DOGE) cutting $2 trillion from federal spending, aiming to free Americans from excessive taxation and government overreach. Elon Musk’s Vision: $2T DOGE Cuts to Propel America to Unseen Heights Tesla CEO Elon Musk revealed on Sunday during a Donald Trump rally held at Madison Square Garden that the proposed Department of Government Efficiency (DOGE), which he intends to lead, could slash federal spending by at least $2 trillion. The federal government’s expenditure in fiscal year 2024 has totaled $6.75 trillion, per the Treasury Department. Cantor Fitzgerald CEO Howard Lutnick questioned Musk on…
Cardano is gearing up for an influx of users following the release of the Midnight Nightpaper, which introduces a new privacy-focused chain. Notably, the Midnight team released the much-awaited Midnight whitepaper, dubbed the “Nightpaper” yesterday. One of the most notable revelations in the Nightpaper is the upcoming launch of the NIGHT token, which will serve as a Cardano native asset (CNA). NIGHT Token Utility As detailed in the Nightpaper, the NIGHT token plays a central role in Midnight’s ecosystem, launching initially as a native asset on Cardano. Unlike most networks where a single token is used for both transactions and…
Archax agrees to buy Spanish broker King & Shaxson Capital Markets. The acquisition will allow Archax to extend its existing brokerage, trading and custody services into the European Union. Archax, a U.K.-regulated crypto exchange and custodian, agreed to buy Spanish broker King & Shaxson Capital Markets (KSCM) to expand in the European Union as the trading bloc’s Markets in Crypto-Assets Regulation (MiCA) rules take effect. Completion of the deal is subject to regulatory approval in Spain, the London-based company said Thursday. The value of the transaction was not disclosed. KSCM started in Madrid in 2019 to service pan-European institutional clients.…
Addresses holding between 100 to 1,000 Bitcoin ($BTC) have demonstrated remarkable resilience amidst recent market fluctuations. These addresses have not just held their coins but also kept steadily accumulating Bitcoin over the past few months. According to data shared by DeFi market intelligence platform IntoTheBlock, these wallets now control 20.3% of Bitcoin’s circulating supply. Currently, 94.05% of Bitcoin’s total supply is in circulation. In other words, 19.75 million coins are in circulation and 395,000 tokens are being held by these Bitcoin holders. Addresses holding between 100 and 1,000 BTC have been unfazed by market movements, showing consistent accumulation over the…
Vitalik Buterin, the creator of Ethereum (ETH), recently responded to growing criticism about the user experience of Ethereum’s layer-2 solutions. He said that it is important to address challenges in order to further develop the platform and reiterated that the development team is working to achieve seamless cross-L2 interoperability. His comments come after an Ethereum supporter spoke out about the current limitations of Ethereum’s multi-chain environment. They called it “painful” for crypto natives and “unusable” for newcomers. Ethereum people should not feel a need to justify the inadequacies of the present.Justifying the present is a natural thing to gravitate toward…
The explosive growth of central bank digital currencies, expected to surge 2,430% by 2031, could revolutionize global payments, slashing cross-border transaction costs by billions. The Global Payment Shake-Up: CBDCs Poised to Transform Transactions Juniper Research, a market research and consulting firm specializing in digital technologies and innovation, released a report on Monday, forecasting a massive increase in central bank digital currency transactions. The firm estimates that “by 2031, the number of global payments made using CBDCs (central bank digital currencies) will reach 7.8 billion, up from 307.1 million in 2024.” Juniper added: This remarkable 2,430% growth will be driven by…
Leading digital asset manager Grayscale has announced the reopening of its private placement offerings for several cryptocurrency trusts, including XRP. The announcement stated that the private placement is now open to accredited investors. As of September 15, eligible participants can subscribe to shares of 18 key crypto trusts. They include the Grayscale Avalanche Trust, Grayscale Bitcoin Cash Trust, Grayscale Solana Trust, and the newly reintroduced Grayscale XRP Trust. These private placements allow accredited investors to purchase shares of these trusts at the net asset value (NAV). This provides direct exposure to the underlying digital assets without the complexities of managing…
The former CEO and founder of the world’s largest cryptocurrency exchange has no plans to retake the chief role at the company he ran for seven years. He revealed future plans about himself and the industry as a whole during the current Binance Blockchain Week in Dubai. Live from @binance blockchain week in Dubai. Here’s the recap of what @cz_binance had to say in his first interview after prison: pic.twitter.com/jmneMorMGv — CryptoPotato Official (@Crypto_Potato) October 31, 2024 Naturally, the interview started with a question regarding CZ’s experience in prison, as he spent four months behind US bars after pleading guilty…
Ethereum market observers have taken notice of a recent transaction in which 58,000 ETH worth roughly $152 million was moved from Binance to the Binance Beacon Deposit. Questions have been raised concerning this sizable deposit’s potential effects on the Ethereum market, especially given the cryptocurrency’s recent protracted decline. Although the sheer amount of ETH being moved around may have additional effects on market dynamics, Binance’s Beacon Deposit, which is connected to its staking operations, may also suggest increased staking activity. Such significant transfers can occasionally frighten investors in terms of market sentiment, particularly at a time when Ethereum has been…
The Bank for International Settlements is mulling ending a cross-border payments platform eyed by the Russian president as a tool to bypass U.S. sanctions. The Bank for International Settlements is reportedly debating the future of its mBridge cross-border payments project after Russia‘s president Vladimir Putin flagged the technology as a potential tool to evade Western sanctions and challenge the U.S. dollar’s dominance, Bloomberg has learned, citing sources close to the matter. Discussions about whether to shut down the project took place last week during the IMF and World Bank annual meetings in Washington, sources indicated. The mBridge project, designed to…