Author: NBTC
DeFi, once celebrated for its potential to revolutionize finance with transparency and accessibility, faced a grim reality in Q1 2024. Incidents of hacking and fraud resulted in DeFi platforms losing $336 million, casting doubt on its utopian vision. This figure, a 23.1% decrease from last year, starkly contrasts with the clean record of centralized finance (CeFi) platforms, which reported zero incidents in the same timeframe. The stark difference between these two approaches prompts a critical examination of the future of decentralized finance. As DeFi’s capital surpasses $100 Billion, the attraction for malicious actors intensifies. The crucial question arises: can DeFi…
India’s private sector lender, IndusInd Bank, has collaborated with climate-tech company Circularity Innovation Hub (CIH) to successfully execute the Reserve Bank of India’s (RBI’s) programmable central bank digital currency (CBDC) pilot. The pilot project will be executed as an alternate form of CBDC where the bank can program the end use of funds that would be disbursed to farmers instead of the generation of carbon credits, IndusInd said in a statement. In February, India’s central bank said it is looking to enable additional functionalities of programmability and offline capability in CBDC retail payments. While programmability is expected to facilitate transactions…
Blockchain development platform Stratis recently received a VASP license in Spain, developing its crypto venture. The move by the blockchain developer underscored the firm’s efforts to remain compliant with global regulations, coinciding with a sudden rise in demands for seamless regulatory measures across the global crypto space. The platform’s native token, STRAX, has seen significant growth over the past 24 hours, coinciding with news about Stratis’ VASP license securing. At the time of writing, the price of the Stratis token has increased by 10.32% over the past 24 hours and is trading at $0.1612. With a 10.56% increase in market…
Zilliqa, the blockchain known for its high throughput and low transaction costs, has made a significant move to expand its footprint by securing a listing on Bit2Me, one of the premier centralized exchanges in Europe and Latin America. This strategic development is poised to enhance Zilliqa’s visibility and accessibility in these key markets. Strengthening Zilliqa’s Position in Global Markets The integration of ZIL, Zilliqa’s native token, into the Bit2Me platform marks a pivotal step for the blockchain in broadening its user base and utility across Europe and Latin America. Bit2Me, celebrated for its rigorous compliance with Spanish banking regulations and…
Fuse Network has partnered with Liquify to bolster its infrastructure with high-end Remote Procedure Call (RPC) support. This collaboration marks a pivotal evolution in Fuse’s commitment to providing robust and seamless blockchain solutions. A Strategic Alliance for Enhanced Performance Fuse Network, known for its innovative approach to blockchain solutions, has long been at the forefront of offering businesses and developers essential tools for integrating web3 payments into their applications. Launched in 2019, Fuse aims to simplify and enhance the functionality of web3 integrations, ensuring that businesses can easily adopt and utilize these technologies. In the latest development, Fuse has taken…
Bitcoin fell to under $62,000 after spiking past $64,700 earlier as Hong Kong spot Bitcoin and Ethereum ETFs began trading. Data showed trading volumes hit just over $11 million, against expectations of over $3oo million. Bitcoin price fell below $62,000 again amid market reaction to less than encouraging numbers from the first day of trading for much hyped spot Bitcoin and Ethereum ETFs in Hong Kong. BTC was down about 1.4% at the time of writing, having touched lows of $61,587 across major crypto exchanges. The benchmark cryptocurrency, which has struggled to reclaim key levels since its recent halving event,…
The total value locked (TVL) on decentralized applications fell $10 billion in April, according to data aggregator DefiLlama. That’s a 7% drop in 30 days, as the decentralized finance (DeFi) ecosystem closed last month with $138.6 billion, including liquid staked amounts. DeFi’s TVL variation in April. Image: DefiLlama Considering the 10 largest blockchains by TVL, Avalanche registered the most significant monthly drop, with 31.5% of the funds leaving the chain. Solana also saw a considerable amount of crypto leaving its ecosystem as its TVL slump was almost 30%. Nevertheless, the over $6 billion locked in its applications makes Solana the…
The Bank of Russia has dismissed the effect that a future confiscation of Russian assets in the U.S. might have on the nation’s economic stability. Elvira Nabiullina, governor of the bank, stated that Russia has been diversifying its asset portfolio for many years and that the assets to be seized weren’t in use anymore. Bank of Russia on a Possible US Asset Confiscation: Russia Will Not Be Affected Russian officials are now examining the issue of the possible confiscation of Russian assets on U.S. soil. The Central Bank of Russia disregarded the negative effect of this confiscation on the nation’s…
In the past few months, many meme coins have appeared containing racist terms. Panelists during a discussion at BUIDL Asia debated on how to best deal with this problem. As funny and irreverent as meme coins are, the category also has a problem with an explosion of tokens with names containing the N-word and other racist themes. During a panel discussion on meme coins at the recent BUIDL Asia summit in Seoul, panelists debated how to deal with the problem. Should wallet apps and decentralized exchanges screen out banned words? Or do the nodes have a duty to stop these…
According to a recent announcement from popular online brokerage Robinhood, users of the Uniswap mobile app can now directly buy crypto assets using their Robinhood balance, thanks to the integration of Robinhood Connect. As stated in an official blog post, users of the Uniswap mobile app can now buy crypto with a debit card, via bank transfer or directly from their Robinhood balance using Robinhood Connect. This option is available only to users from the United States. To commemorate this debut, Robinhood will reward first-time Robinhood Connect customers who buy at least $10 of crypto using Robinhood Connect in the…