Author: NBTC
Reports on a new BRICS currency designed to compete against the US dollar are fundamentally false, according to leaders in South Africa. In a statement, South Africa’s Department of International Relations and Cooperation (DIRCO) says BRICS is not working on a currency that could be used as an alternative to USD, reports Bloomberg. According to DIRCO, reports have misinterpreted the intentions of the economic bloc about trade settlements between member nations. “Recent misreporting has led to the incorrect narrative that BRICS is planning to create a new currency. This is not the case. The discussions within BRICS focus on trading…
The native token of dYdX, a decentralized trading platform, recorded an impressive rally despite the whale selloff. dYdX (DYDX) surged 29% in the past 24 hours and is trading at $1.28 at the time of writing. Its market cap is hovering around $820 million with a daily trading volume of $350 million. The asset saw a notable increase in its large holder outflow after hitting the $1.31 mark for the first time since late July. According to data provided by IntoTheBlock, DYDX saw a whale inflow of 6.42 million tokens and an outflow of 6.82 million tokens—leaving a net outflow…
In a major development, AirDAO has announced partnership with Lunar Strategy. The news was shared on Lunar Strategy’s X account, highlighting their support for AirDAO’s growth and development. Lunar Strategy is an incubator and accelerator that supports the development of crypto projects, relying on experience, contacts, and funding. Excited to work with @LunarStrategy They know their onions!Let’s MAGA 🚀$AMB https://t.co/HlNdEJlVCM — AirDAO (@airdao_io) December 6, 2024 Lunar Capital to Support AirDAO with Strategic Initiatives Lunar Capital, which specializes in funding progressive blockchain projects, will back AirDAO with key initiatives. These comprise ecosystem project acceleration and growth and strategic advisory services.…
Bitcoin’s price remains in a state of indecision, confined within a tight consolidation range bounded by the 100-day and 200-day moving averages. An impending breakout from this range will likely determine the asset’s short-term direction. Technical Analysis By Shayan The Daily Chart Bitcoin has been stuck in a multi-month consolidation between the $55K-$71K price range since March 2024, with no clear trend or direction emerging. This prolonged period of sideways movement indicates an overall equilibrium between buyers and sellers, with accumulation occurring at the lower end of the range and distribution at the top. Despite this, a bearish sign has…
India rejects de-dollarization narratives, with the Reserve Bank of India (RBI) prioritizing local currency trade agreements to shield its economy from dollar volatility and global uncertainties. RBI Denies Dedollarization Goals, Focuses on Securing Indian Trade Reserve Bank of India (RBI) Governor Shaktikanta Das clarified India’s stance on global currency discussions during a post-monetary policy press conference, stating that dedollarization is not a policy goal for the nation. Das addressed narratives suggesting otherwise, emphasizing that recent initiatives, such as opening vostro accounts for trade in local currencies and forming agreements with a few nations for currency-denominated trade, aim to reduce trade…
Ethereum co-founder Vitalik Buterin has countered Nick White’s opinion on committees for blockchain verifiability. Buterin considers adopting committees an aberration and a move away from the decentralization principles of blockchain technology. Buterin stated he would stop considering Ethereum for what it is if the blockchain accepted committees and centralized intermediaries as the solution for everything. I don’t think this is a fringe take at all.If Ethereum gave up on verifiability and accepted committees and centralized intermediaries for everything, I would consider it no longer Ethereum.In addition to verifiability I would also add highly democratized participation. — vitalik.eth (@VitalikButerin) December 7,…
Craig Wright, the controversial figure who claims to be Bitcoin’s creator, lashed out at Michael Saylor, co-founder of MicroStrategy, accusing him of distorting the true essence of Bitcoin. Wright’s condemnation comes on the heels of Saylor’s announcing that he wants to turn MicroStrategy into a merchant bank for Bitcoin (BTC). In a blistering critique, posted to X on Oct. 12, Wright said Bitcoin “has been distorted, manipulated, and centralized—now incapable of facilitating simple transactions without the intervention of intermediaries.” Wright directed his ire at Saylor specifically for “building a so-called ‘Bitcoin bank’ to serve as the very obstacle that Bitcoin…
The Federal Reserve will almost certainly slash interest rates at its December meeting. Friday’s jobs report sealed the deal, offering the Fed enough breathing room to act without looking reckless. Nonfarm payrolls rose by 227,000 in November, blowing past expectations, while unemployment inched up to 4.2%. Markets barely blinked, with CME Group now pricing in a 90% likelihood of a cut. But here’s the thing: this isn’t the good news it might seem. Critics are already piling on, accusing the Fed of setting the stage for risky speculation. Inflation is still alive and kicking, wages are climbing, and some say…
Gravity (GRVT), a prominent hybrid cryptocurrency exchange, has officially become the first decentralized exchange (DEX) to be approved by regulators. The platform has received the Class M Digital Asset Business License from the Bermuda Monetary Authority (BMA) under the Bermuda Digital Asset Business Act (DABA). The license enables GRVT to perform its services as a digital asset derivatives exchange provider under altered terms and complying with pre-operational standards. The Class M license establishes GRVT as the pioneer of DeFi regulation, offering an architectural approach to compliance for institutions. The platform intends to transition to a Full Class license, which will…
The following article is an op-ed by Tyler Adams, CEO & Co-Founder at COZ. For the last two years, crypto developers and venture capital have been hyper-focused on supporting infrastructure projects to the detriment of consumer-facing applications. If you look around this industry, you will see a plethora of tools for developers to integrate privacy features, decentralize information, and scale platforms, but a lack of applications where these tools can be used. We’re not beating the allegations that blockchain is a solution in search of a problem. It doesn’t have to be this way. Crypto and the underlying blockchain technology…