Author: NBTC
Peter Schiff, a well-known gold investor and vocal critic of Bitcoin, addressed claims made by cryptocurrency publications suggesting he had changed his stance on Bitcoin. Schiff clarified that his admittance of regret for not purchasing Bitcoin in 2010 does not mark any sort of U-turn on crypto. He stated, “Bitcoin related publications are falsely claiming that I’ve changed my position on Bitcoin because I admitted I wished I had bought some back in 2010. I think everyone wished they bought Bitcoin in 2010.” Schiff further stressed that his hypothetical wish to have invested in Bitcoin early on does not alter…
Andrew Abir, deputy governor of the Bank of Israel, recently said that traditional cash was once competitive with other payment methods, but its role has “eroded” because of technological limitations as finance becomes increasingly digital. Abir made the statement during his speech at the “Engines of the Israeli Ecosystem” conference on April 16, where he also announced a new sandbox to test a central bank digital currency called the digital shekel. The API-based sandbox will allow financial entities, fintech companies, and other participants to participate and develop use cases for the digital shekel. Catalyst for competition The central bank official…
Arbitrum-based Plutus DAO has announced plans to scrap its long-depegged plsARB token, allowing users to redeem their underlying ARB tokens 1:1. However, not all users are happy. Some feel betrayed after they decided to exit at a loss, with others even suspecting insider trading around the announcement. Plutus DAO launched plsARB in March 2023 to capitalise on the ARB airdrop. The DAO aimed to secure an influential governance position on Arbitrum and activate a native ARB staking programme, rewarding depositors to encourage participation. The proposal to activate a staking programme in October 2023 received pushback and criticism on the Arbitrum…
South Korean police have raided the offices of the sports-themed blockchain platform Winnerz as part of a probe into claims its WNZ token is a “scam coin.” Per the newspaper Money Today, the Seoul Metropolitan Police Agency’s criminal task force announced on April 16 that it had searched and seized evidence from two locations. WNZ prices over the past 24 hours. (Source: CoinMarketCap) South Korean Police Raid Two Addresses Police said they raided a Winnerz office in Gangnam, Seoul, and the home of the former Winnerz CEO Choi Seung-jeong on April 1. A court warrant granted police the right to…
Accounting firm EY launched an Ethereum-based blockchain solution on Wednesday. It aims to help businesses execute complex agreements, reduce costs, and maintain security. Called the EY OpsChain Contract Manager (OCM), it is designed to tackle hurdles like managing business agreements spanning internal and external operational and technology silos. It also enables multiple parties to synchronize data among various business partners. Additionally, it enforces critical terms through smart contracts, including standardized pricing, volume discounts, rebates, and strike prices. The Big Four firm referenced data from Zion Market Research, which predicts the global smart contracts market is projected to reach $1b by…
Prominent Bitcoin analyst Willy Woo has stirred up the cryptocurrency community with his recent perspective on Bitcoin’s potential price trajectory. In a bold assertion, Woo suggested that the target price for Bitcoin in the event of hyperbitcoinization — a scenario where Bitcoin becomes the dominant global currency — could reach an astounding $4.8 million. Hyperbitcoinization refers to the hypothetical future in which Bitcoin supersedes traditional fiat currencies and precious metals as the primary medium of exchange worldwide. Advocates argue that cryptocurrency’s borderless, censorship-resistant and digital nature will eventually lead to widespread adoption, resulting in the displacement of conventional financial systems.…
The South Korean Central Bank is set to “speed up” its CBDC project, and will pilot its digital KRW with a group of 100,000 citizens later this year. According to Newsway, the Bank of Korea (BOK) will test digital KRW usability and deposit functions with the group “at the end of 2024.” South Korean Central Bank Eyes Real-world Tests in Q4 In October last year, the BOK announced plans to launch “CBDC usability tests” with the nation’s top regulators, the Financial Services Commission and the Financial Supervisory Service. Lawmakers have also created a law that differentiates between CBDCs and cryptoassets…
In a move that has triggered attention in the cryptocurrency community, an Ethereum whale recently offloaded all 10,701 ETH, equivalent to approximately $33 million, on popular exchange Binance. On-chain analytics firm Lookonchain reports a crypto whale who sold all their 10,701 ETH stash worth $33 million on Binance to repay a debt in recent hours. The whale went long on ETH by depositing ETH on the compound protocol and borrowing USDT to buy more ETH. This whale sold all 10,701 $ETH($33M) on #Binance to repay debt 2 hours ago, losing more than $4M again!He went long $ETH by depositing $ETH…
If Bitcoin were completely free to use, there would be mayhem not unlike the troubles that Solana currently faces. No fees would clog Bitcoin’s mempool — a reservoir of pending transactions — with useless mini-transfers to the point that legitimate users would face extended delays and even be ignored altogether. Bitcoin would process transactions on a first in, first out basis. So, some rogue scalliwag could code a script to send millions of transactions for individual sats between wallets in a steady stream, beating you to the punch every time until the spam ran its course. Considering only about 2,500…
This week on “Nik learns legal processes”: Here’s what to expect with Sam Bankman-Fried’s appeal of his conviction last year. Appeals process As expected, Sam Bankman-Fried’s legal team filed a notice of his intent to appeal his conviction on fraud and conspiracy charges. So far all we have is just the notice – the actual brief won’t come for some time yet. Martin Auerbach, of counsel with Withers Bergman, told CoinDesk that Bankman-Fried’s legal team must file the brief within 91 days of his receiving the completed transcript from the hearing. The Department of Justice would likewise have 91 days…