Author: NBTC
Global liquidity is surging. Central banks are injecting capital into economies worldwide, and this has massive implications. It’s big. Asset prices are inflating, and everyone with investments stands to gain. Savers though? Not so much. Their cash is eroding in value as more liquidity floods in. This liquidity wave will drive a bull run of epic proportions, and Bitcoin is primed to ride it. Over time, BTC has shown a strong relationship with global liquidity. When liquidity rises, Bitcoin tends to follow. The reverse is true when liquidity contracts, with prices falling alongside it. This has led people to call…
Japan to use XRP for all payments by 2025, driving major changes in the country’s digital currency market. SBI CEO Yoshitaka Kitao’s 2023 prediction of XRP’s dominance in Japan’s banking sector aligns with Japan’s recent announcement. Ripple’s legal victory, with XRP not deemed a security, paves the way for its widespread adoption in Japan by 2025. Japan has revealed that XRP will be utilized for all payments across the country by 2025. This decision, unveiled by key financial leaders, marks a forward step in Japan’s approach to digital currency adoption. 🇯🇵: JAPAN HAS ANNOUNCED THAT #XRP WILL BE USED FOR…
The UK’s Financial Conduct Authority (FCA) and the Bank of England have officially launched the next phase of their Digital Securities Sandbox (DSS), enabling firms to explore distributed ledger technology (DLT) and tokenized securities within traditional financial markets. The DSS, which will be operational until December 2028, provides a structured environment for testing and implementing DLT applications, aiming to enhance market efficiency, transparency, and resilience. The initiative seeks to position the UK as a global leader in financial innovation by fostering conditions conducive to investment and sustainable growth. Divided into sequential stages known as gates, the DSS allows sandbox entrants…
Over the last two weeks, non-fungible token (NFT) sales have enjoyed steady week-over-week increases. However, when we compare the numbers from September to August, the story takes a different turn. Data from Cryptoslam.io reveals that September saw a 47.9% drop in total digital collectible sales compared to the previous month. NFT Market Faces Continued Decline August was a tough month for NFT sales, with revenue plummeting by 41.36% compared to July. Unfortunately, September didn’t bring any relief—it got even worse. The month saw a total of $317.77 million in NFT sales, marking a 47.9% drop from August. September’s NFT sales…
EA Capital has become the latest digital asset firm to obtain a license in South Africa as the continent’s second-largest economy ramps up digital currency regulations. EA Capital announced that it had acquired a Category I license as a Crypto Asset Service Provider (CASP) from the country’s Financial Sector Conduct Authority (FSCA). It joins other major players, including Luno and VALR, which acquired the license this year under the FSCA’s new digital asset regulatory framework. The Cape Town-based company offers diverse digital asset services, from financial services such as prime brokerage, liquidity provision and an over-the-counter (OTC) desk to derivatives,…
The Ripple CTO David Schwartz provides clarification on whether the payment firm can still use XRP for its Ripple Payments transactions following the injunction from the SEC lawsuit. Schwartz’s remarks came as a response to comments from critic and community figure “Scam Detective.” Recall that in addition to imposing a $125 million fine on Ripple for violating securities provisions, Judge Analisa Torres also issued an injunction to bar Ripple from further contravening securities laws through institutional XRP sales. Can Ripple Still Use XRP for ODL in the US? This part of the ruling has been the subject of debate due…
Despite social media rumours suggesting an FTX reimbursement by September 30, customers will have to wait an additional week for any updates on repayments. Before FTX can disburse any creditor funds, the court will have to approve its wind-down plan, with the next court hearing scheduled for October 7. FTX is waiting on court approval for its reorganization plan When FTX filed for bankruptcy protection in November 2022, and CEO Sam Bankman Fried resigned, John Ray III, a long-time bankruptcy litigator, took over the reins to try and fix the mess. On May 7, 2024, the exchange filed its Chapter…
DWF Labs Co-founder: AUM Grows Tenfold in Ten Days, Sets Ambitious $50 Billion Target DWF Labs, a leading market-making firm in the cryptocurrency sector, has experienced remarkable growth in recent weeks. Andrei Grachev, co-founder of DWF Labs, announced on X (formerly Twitter) that the company’s assets under management (AUM) have surged tenfold over the past ten days, according to JinSe Finance. This rapid expansion comes as part of the firm’s aggressive strategy to position itself as a dominant player in the crypto market, with an ambitious goal of reaching $50 billion in AUM within the next two years. Unprecedented Growth…
According to data published by the Shibburn tracking service, during the period of the last 24 hours, the SHIB community has succeeded in disposing of an impressive amount of SHIB, pushing the burn rate to a jaw-dropping high. Curiously, this immense surge in burns took place after the SHIB team announced its plans to conduct a new hard fork, which will introduce a Shiba Inu burn mechanism. Burns surge by almost 140,000% The aforementioned data source shared that over the past day, the SHIB army has made a big advance in removing SHIB from circulation and making its supply shrink.…
Proton Management argues that Swan Bitcoin never owned the mining business in question, as it was part of 2040 Energy, a separate entity funded by Tether in which Swan holds only a minority stake. Proton claims it is enhancing the value of 2040 Energy, and not harming Swan. Proton Management argued in a court filing that Swan Bitcoin does not own any mining business of its own. Proton responded to Swan Bitcoin’s allegations that Proton and six ex-employees of Swan conspired to “steal” its mining business. “Swan does not have a mining business of its own,” counsel for Proton wrote…