Author: NBTC

ROME, May 30 (Reuters) – European Central Bank policymaker and Bank of Italy Governor Fabio Panetta called on Friday for close monitoring of the reputational risks banks face in providing crypto-asset services, warning that losses could harm the trust of customers. Presenting the Bank of Italy’s annual report, Panetta warned about the growing links between the world of crypto-assets and the traditional financial system, pointing to the rising number of accords between banks and digital asset providers. “Crypto-asset holders might not fully understand their nature and conflate them with traditional banking products, with potentially negative repercussions for confidence in the…

PlatON, the blockchain for payments, has announced the integration of XSGD and XUSD, stablecoins issued by StraitsX and pegged to the Singapore Dollar and U.S. Dollar respectively, onto the PlatON Network. This move marks a significant step forward in building a more efficient and compliant cross-border-ready stablecoinclearing and settlement infrastructure forglobal merchants, financial institutions, and digital asset developers. XSGD is a Singapore Dollar-pegged stablecoin issued by StraitsX in 2020, fully backed 1:1 by reserves held with DBS Bank and Standard Chartered. XUSD, its U.S. Dollar counterpart, is similarly backed 1:1 by U.S. dollar reserves held with regulated financial institutions. With…

Lawyers representing Tornado Cash founder Roman Storm have asked for more time to fight a filing by US prosecutors that seeks to remove their “expert” witnesses on the grounds that they could “waste time” and “confuse the jury.” The US prosecution submitted the witness motion on June 6. In a filing submitted today, Storm’s attorneys said they need more time to oppose the prosecution’s 60-page motion that wants eight of their defensive arguments thrown out. A total of 40 pages are dedicated to barring or limiting Storm’s five expert witnesses and one non-expert witness. The defence had planned to discuss…

Coinbase announced that it’s listing three new tokens tomorrow: PancakeSwap (CAKE), Subsquid (SQD), and Fartcoin. These listings will go live at 9 AM PT. All three assets performed well after the news, with Fartcoin growing the most and SQD reaching an all-time high. When these coins go live on Coinbase, it might cause notable volatility tomorrow. Coinbase’s Newest Listings Explained As one of the world’s biggest exchanges, token listings on Coinbase generally cause a lot of hype, and this one is no exception. The exchange put Fartcoin and SQD on its roadmap less than a week ago, causing remarkable price…

Klink Finance, a blockchain platform designed to allow users to earn crypto through various activities and investments, has announced a strategic partnership with Tracy AI, a platform providing advanced AI tools to help businesses grow. By combining blockchain infrastructure with AI-powered intelligence, this collaboration is set to enhance crypto users’ experience. Klink Finance is a Web3 earnings platform aiming to redefine cryptocurrency wealth generation through its cross-chain partner ecosystem, powered by the XDC Network. By merging staking rewards, automated earning tools, and user-focused incentive systems, Klink allows users to efficiently participate in a wide variety of crypto earning activities. On…

Blockchain sleuth Whale Alert, known for actively monitoring large cryptocurrency transfers and sharing their details on its website and X account, has spotted two major transfers made from a top US crypto exchange, Kraken. Close to $200,000,000 worth of Bitcoin changed hands anonymously. Meanwhile, the world’s flagship cryptocurrency $197.3 million in Bitcoin leaves Kraken into the unknown The aforementioned source of on-chain data shared the details of two massive cryptocurrency transfers, which carried 875 BTC and 997 BTC worth $92,353,820 and $105,083,368. This sum slightly exceeds $197.3 million in the fiat equivalent. 🚨 🚨 🚨 🚨 🚨 997 #BTC (105,083,368…

Peter Schiff, vocal proponent of gold and a longtime critic of cryptocurrencies and bitcoin BTC$102,934.90, said he intends to launch his own gold-backed token while taking a dig at the value of U.S. dollar-pegged stablecoins.“I get bitcoin, but not U.S. dollar stablecoins,” Schiff posted Friday on X. “If you’re going to introduce a third-party custodian, why settle for a token backed by a flawed fiat currency like the dollar, when you can own one backed by gold?” In a reply to a user who encouraged him to launch a gold-backed stablecoin, Schiff confirmed: “They already exist. But I do intent…

Ethereum (ETH), the world’s second-biggest cryptocurrency, has had a tough time on the charts lately. On Thursday, ETH’s price fell by nearly 10%, breaking below some important levels. The overall crypto market has been under pressure because of rising tensions in the Middle East, especially after the latest conflict between Israel and Iran. But while retail traders have been selling off and booking profits, something interesting has been happening on-chain. According to new data from crypto analytics firm Santiment, whales have quietly been adding more Ethereum to their wallets. Source: Santiment On-Chain Data Shows Whales Quietly Accumulating 1.49M ETH Right…

FTX has begun distributing over $5 billion in stablecoins to creditors, unleashing approximately 2% of the total stablecoin supply into the market. FTX is set to release over $5 billion in stablecoins to creditors starting today, May 30. This marks the second major repayment wave to reimburse users who lost access to their funds after the exchange’s collapse in November 2022. The initial announcement was made on May 15, with FTX confirming that distributions would start on May 30 and be completed within one to three business days, facilitated through BitGo and Kraken. (2/3) Eligible creditors should expect to receive…

TL;DR Velora launched VLR, a new token replacing PSP at a 1:1 ratio, adding governance features and distributing rewards based on liquidity provided. The project will migrate to Base, Coinbase’s network, attracted by lower costs and faster execution, with a gas-free swap tool active for three months. 10% of the total VLR supply will go to migration incentives, aiming to accelerate network effects without relying solely on its existing user base. Velora announced the launch of its new token, VLR, which will replace the current PSP token at a 1:1 ratio. The initiative includes staking rewards and will power cross-chain,…