Author: NBTC
With the United States under President Trump already stockpiling cryptocurrencies, Russia should also explore opportunities to use Bitcoin and the like, according to the head of a major Russian business lobby group. The official also sees asset-backed stablecoins as a means to potentially resurrect the gold standard. Alexander Shokhin, president of the Russian Union of Industrialists and Entrepreneurs (RSPP), is convinced that no government would like to see its sovereign rights as a money issuer challenged but recognizes the general consensus in Russia that crypto can be employed in cross-border payments. Business lobby group urges Russian government to consider using…
Napster, the brand that once sent the music industry into panic mode but then faded, was just acquired for $207 million. Infinite Reality is buying the streaming service to transform it into a platform where fans can hang out in virtual spaces, attend concerts, and buy merch directly from artists, the virtual reality startup announced. The deal is also the highest price tag yet for Napster, which has circulatedamong half a dozen companies, including Rovio to Algorand, since its controversial file-sharing days. Infinite Reality is betting big that music fans want more than just passive listening. “By acquiring Napster, we’re…
Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Bitcoin’s all-time high of $100,000 at the end of last year was a fever dream. It was the peak of an epic bull run that was long-awaited, and since then, the US has considered a Bitcoin (BTC) federal reserve, and even pension funds are dabbling in the crypto space. Whilst this is good for Bitcoin as an asset, it highlights an urgent need for Bitcoin to do and be more for the growing world of people turning…
Stablecoin market capitalization has increased by 90% since late 2023, exceeding $230 billion. These digital tokens maintain a steady value by being backed by reserves. While their increasing use in international transactions strengthens the US dollar’s position as the dominant global currency, critics warn that stablecoins could also introduce systemic risks reminiscent of past financial crises. Stablecoins and the Risk of a New Financial Crisis During market turmoil, stablecoin holders may rush to redeem their tokens for cash, forcing issuers to sell rapidly off their reserve assets. This could create instability in financial markets. The same happened in 2008. Then,…
Receipts Depositary Corporation (RDC) has just dropped the news about XRP Depositary Receipts (XRP DRs), a new financial tool that lets investors get in on XRP action without directly owning the cryptocurrency. XRP DRs: Like ETFs, But for XRP Ownership Similar to Exchange Traded Funds (ETFs) and American Depository Receipts (ADRs), XRP DRs will give investors the chance to profit from XRP’s future gains but without actually holding the asset itself. This move is seen as a bridge between traditional finance and decentralized finance (DeFi), potentially opening up the crypto market to more institutional investors. Related: Crypto’s Going Mainstream Faster…
Cautious market sentiment and a broader pullback in crypto activity appear to be stalling bitcoin’s price over the past 24 hours. Trading Volume Slump Keeps Bitcoin Below $97K Threshold Bitcoin (BTC) is currently trading at $96,985.60, showing a slight 0.48% decline over the past 24 hours and a 3.37% drop over the past week. The asset has been trading within a 24-hour range of $96,673.21 to $98,492.90, struggling to gain momentum as market sentiment remains cautious. (BTC price / Trading View) Weaker Trading Volume and Market Cap Decline Bitcoin’s 24-hour trading volume fell 17.68% to $31.63 billion, indicating reduced market…
Cathie Wood said on Tuesday in Hong Kong that she expects Tesla shares to reach $2,600 by 2030, according to an interview she gave Bloomberg TV on Monday night. She made the projection during an interview and repeated it later at the HSBC Global Investment Summit, claiming the growth will come almost entirely from robo taxis, which she believes will drive 90% of Tesla’s future value. Cathie told Bloomberg that her firm, Ark Investment Management, hasn’t even added Tesla’s humanoid robot initiatives into the forecast yet. “We haven’t included that in the valuation,” she said, referring to the company’s work…
US President Donald Trump-backed World Liberty Financial has partnered with Ondo Finance (ONDO) to increase the adoption and tokenization of real-world assets. Ondo Finance announced the partnership in its official blog post and shared the details: “World Liberty Financial (WLFI) and Ondo Finance have announced a strategic collaboration to advance the adoption of tokenized real-world assets (RWAs) and bring traditional finance on-chain.” According to the statement, as part of the collaboration, WLFI will explore the integration of Ondo’s tokenized assets into the WLFI network as treasury reserve assets. “Our collaboration with Ondo Finance is an important step in aligning traditional…
In the past 24 hours, CryptoPunks have seen a flurry of buying activity as its floor price climbs to 42 ETH per NFT. According to data on its official site, the Yuga Labs-backed NFT collection has seen 19 sales of its unique pixelated avatar heads in the past 24 hours. The recent surge in CryptoPunks buyer activity has brought the number of transactions up by 18.75%, bringing the NFT collection to the second largest spot, according to data from CryptoSlam. So far, the top purchase in the past 24 hours is CryptoPunk #2301, showcasing an avatar with an eyepatch and…
China is making moves that could impact the entire cryptocurrency market. There are reports suggesting that the country is considering launching a strategic Bitcoin reserve and may soon lift its crypto ban. This has created buzz, especially for altcoins tied to Chinese blockchain projects, as they stand to benefit from the country’s growing interest in digital assets. Hashkey CEO recently said, “I think there is the possibility the mainland China government will reconsider their stance towards the crypto and Web3 industry.” China’s Shift Toward Crypto China’s push into cryptocurrency seems driven by its desire to compete with the U.S. and…