Author: NBTC

In a tweet earlier today, Nischal Shetty, founder and CEO of WazirX, India’s embattled crypto exchange, revealed a key detail of the company’s ongoing restructuring efforts. Shetty confirmed that WazirX will distribute assets to users in crypto tokens, not fiat or stablecoins. WazirX’s Distribution Plan Pending approval of the proposed restructuring scheme, users will receive a proportional share of liquid assets based on their token holdings as of July 18, 2024. The plan addresses outstanding creditor claims and ensures distributions match users’ holdings on that date. “Distribution will be in tokens (as currently visible in your portfolio),” Shetty tweeted. He…

Switzerland’s Canton of Bern parliament has approved a proposal to explore Bitcoin mining as a solution to excess energy utilization and power grid stabilization. Samuel Kullmann, a member of the Grand Council, said the motion was adopted on November 28 with a decisive vote of 85 to 46, backed by multiple politicians in Bern. “Even though the debate was heavily influenced by classic FUD arguments and missed the point, the proposal ultimately found a clear majority,” said Kullmann, adding that some traditionally conservative parties supported the initiative. “The outcome clearly demonstrates that the narrative on Bitcoin is changing.” The proposal…

Anthony Pompliano, well-known Bitcoin advocate and CEO of Professional Capital Management, has made a brave prediction regarding the future of Bitcoin and its relationship to Wall Street. Speaking on “The Big Money Show,” Pompliano emphasized that traditional finance players are overthinking the simplicity of the cryptocurrency, which in his opinion will ultimately lead to a massive shift of capital into Bitcoin. As the price of the major cryptocurrency hovers around the crucial $68,000 mark, with potential for growth toward $70,200, Pompliano highlighted the core principles that make Bitcoin a standout investment. Its fixed supply of 21 million coins and resistance…

David Schwartz, CTO of Ripple and one of the main people behind XRP Ledger (XRPL), recently spoke about some concerns the XRP community has been having about the need for XRP to facilitate transactions on the ledger. These concerns came up as Ripple prepares for the launch of RLUSD, a stablecoin that the company introduced to expand its service offerings. With the upcoming deployment, some people started wondering if XRP was still needed on XRPL. Schwartz explained why XRP is still needed in the infrastructure, pointing out that it is particularly important for keeping the network safe from spam attacks.…

The Economic Secretary to the Treasury said at the Tokenization Summit that the UK government is continuing to press on with the integration of traditional finance and crypto assets Tulip Siddiq, the Economic Secretary to the Treasury talked about distributed ledger technology (DLT) in her keynote address. She said DLT is part of a wider strategy to ensure the UK retains its place as a leading world financial center. Furthermore, the Bank of England and the Financial Conduct Authority launched the Digital Securities Sandbox in September as part of their strategy. Tulip shared that “The Digital Securities Sandbox is a…

Coinbase will halt rewards for USD Coin (USDC) holders located in the European Economic Area (EEA) on Dec. 1 due to the upcoming Markets in Crypto-Assets (MiCA) regulation, according to an email sent to customers on Nov. 28. The exchange said the move is a result of the new requirements for e-money tokens, which is how stablecoins are labeled under MiCA. Users will continue accruing yield with their USDC balances until Nov. 30, with the value paid within the first 10 business days of December. Coinbase’s USDC rewards program is available in over 100 jurisdictions. It generates daily yields over…

On Thursday, Bitcoin (BTC) network miners saw their total revenue surge to a two-month high. Notably, this uptick coincided with a remarkable day of HODLing, as miners refrained from selling their holdings for the first time in the past month. As Bitcoin approaches its all-time high of $73,764, the decline in miner sell-offs indicates a bullish trend. This suggests that this milestone could be within reach in the near term. Bitcoin Miners Hold Still Yesterday, the miner revenue on the Bitcoin network totaled 552 BTC, valued above $37 million at current market prices. Per Glassnode’s data, this marked its highest…

RD Innotech, a participant in the Hong Kong Monetary Authority’s Stablecoin Issuer Sandbox, is set to launch the Hong Kong Dollar stablecoin (HKDR) on the Ethereum blockchain. This initiative aims to enhance digital finance in Hong Kong by providing a stable digital currency pegged 1:1 to the Hong Kong dollar. RD InnoTech, a member of the Hong Kong Monetary Authority (HKMA) Stablecoin Issuer Sandbox, plans to issue the first Hong Kong dollar stablecoin HKDR on Ethereum, and plans to officially list the stablecoin HKDR on HashKey Exchange, Hong Kong’s largest compliance exchange.… — Wu Blockchain (@WuBlockchain) October 28, 2024 Official…

Former Ripple director Sean McBride has fueled speculation about Ripple CEO Brad Garlinghouse potentially being tapped for a crypto-focused role in Donald Trump’s White House. The position, rumored to be the first of its kind, would signify the administration’s increasing interest in regulating and fostering innovation in the crypto industry. Ripple CEO Brad Garlinghouse to Take on White House Role McBride shared his insights on X (formerly Twitter), responding to questions about the potential appointment. “There is a real and growing possibility Brad Garlinghouse will be chosen as Trump’s new Crypto Czar,” the ex-Ripple exec wrote. The statement has sparked…

Bitwise CIO Matt Hougan predicts that Bitcoin will reach six-figure prices as several key factors are lining up, including growing whale accumulation and reduced Bitcoin supply post-halving. Bitcoin whales purchased a staggering 60,000 BTC within 24 hours. According to crypto analyst Quinten Francois, this is an unusually high volume of buying activity for large investors. Never in the history of #Bitcoin have whales been buying $BTC this aggressive pic.twitter.com/2DIw33c3HW — Quinten | 048.eth (@QuintenFrancois) October 18, 2024 Experts interpret the aggressive buying spree as a sign of renewed confidence by whales in Bitcoin’s price potential. Whales typically buy large quantities…