Author: NBTC
Central bank digital currencies (CBDCs) could transform cross-border payments in the Middle East and give central banks a more effective tool for monetary stabilization, two of the region’s leading central banks say. Yazeed Al-Nafjan, the deputy governor of Saudi Arabia’s Monetary Authority (SAMA), believes a wholesale CBDC would best serve his country. The country’s digital payment penetration increased to 70% last year, and thus, a retail CBDC isn’t needed, he stated. Al-Nafjan spoke at an open forum convened by the World Economic Forum (WEF) in Riyadh, the country’s capital. He joined a panel consisting of Jihad Azour, the IMF’s Middle…
Shiba Inu (SHIB) bears a strong correlation and resemblance to Bitcoin (BTC), and this similarity has been highlighted by the project’s marketing executive, Lucie. In her latest post on X, Lucie said that SHIB is just like BTC because no one is behind it. The anonymity of Satoshi Nakamoto, the creator of Bitcoin, and Ryoshi, the founder of Shiba Inu, bear a resemblance to each other. The Shiba Inu executive noted that just like Bitcoin, anyone can build around Shiba Inu. This post seems to directly address conversations around the utility of Shiba Inu as concerns development efforts. The community…
FalconX will pay $1.8 million to settle newly-announced charges from the Commodity Futures Trading Commission (CFTC) that the crypto trading firm violated commodities laws by failing to register as a futures commission merchant (FCM), according to a Monday announcement from the regulator. Through its “Edge” product, FalconX acted as a crypto prime broker, offering institutional clients – including some based in the U.S. – with access to various crypto exchanges to trade derivatives, including futures and swaps, the CFTC said in a press release Monday. Though FalconX describes itself as the “largest digital asset prime brokerage” it was not properly…
Binance, one of the world’s leading cryptocurrency exchanges, announced that it supports the upcoming Lisk (LSK) contract exchange and shared important details for users before the transition. Binance Lisk (LSK) Announces Contract Swapping Support The contract exchange for Lisk (LSK) will see all deposits and withdrawals of legacy LSK tokens suspended from 05:00 on May 21, 2024. It is crucial that users ensure that they allow sufficient time for deposits and withdrawals of legacy LSK tokens to be fully processed before this event. Binance reassures its users that various trading and investment services, including spot trading, margin trading, futures trading…
Ethereum (ETH) was rejected at $2,996 and is currently moving towards the crucial uptrend support level at $2,880. The 1-hour ETH/USDT chart shows a prolonged down-channel formation. The recent downtrend in Ethereum’s price can be attributed to the delayed approval of the Ethereum ETF by the SEC. Ethereum (ETH) recently experienced a setback as it was rejected at the $2,996 mark. The cryptocurrency is now moving towards the crucial uptrend support level at $2,880. At press time, ETH is trading at $2,902, with a 2.48% decrease over the past 24 hours and a 5.64% drop on a weekly basis. The…
While Bitcoin and altcoins started the week positively ahead of the US CPI and PPI data expected to be announced this week, Coinshares published its weekly cryptocurrency report. Stating that it experienced an inflow of 130 million dollars in cryptocurrency investment products last week, Coinshares said that it saw a total inflow of 130 million dollars for the first time in five weeks. “Cryptocurrency investment products saw total inflows of $130 million for the first time in five weeks. Regionally, the US saw inflows totaling $135 million, with Grayscale seeing the lowest weekly outflows since January.” ETH Sales Increased as…
RD Technologies, a leading blockchain solutions provider, has partnered strategically with Chainlink, the industry-standard decentralized oracle network, to facilitate secure and reliable cross-chain transfers of the Hong Kong Dollar (HKD) stablecoin. This integration marks a significant milestone in enhancing interoperability and accessibility within the cryptocurrency ecosystem, paving the way for seamless transactions across different blockchain networks. HKDR is a dependable and open stablecoin for payments and other uses, backed 1:1 by the Hong Kong dollar. To investigate the use of HKDR in B2B cross-border payments, virtual asset exchanges, and tokenized real-world asset settlement, RD Technologies has currently signed agreements with…
The UK government’s Insolvency Service has shut down a London-based crypto advisory firm that claimed to offer investment advice in cryptocurrencies. In a London High Court ruling on April 30, Amey Finance Academy Ltd was ordered to close. The company’s sole owner and leader, Desmond Amey (42), who presented himself as a wealth creation specialist, had previously assured customers that their cryptocurrency investments were safe. Despite Amey’s assurances, customers allegedly lost money in their investments, according to a statement on Monday. This lack of positive returns raised red flags. And in July 2022, the Financial Conduct Authority (FCA) stepped in.…
In order to protect its users and maintain a high-quality trading market, Binance, the world’s leading cryptocurrency exchange, announced the removal of selected spot trading pairs due to factors such as low liquidity and trading volume. Binance Announces Removal of Select Spot Trading Pairs Following its final review, Binance has decided to remove and suspend trading on the following spot trading pairs, effective at 06:00 on May 17, 2024: CFX/TUSD, CHESS/BTC and ORDI/TUSD. Despite the delisting of these spot trading pairs, Binance reassures its users that this will not affect the availability of tokens on Binance Spot. Users can continue…
Bitcoin’s latest price dip to under $60,000 has raised questions as to whether the asset’s spectacular bull run this year could be ending earlier than expected. Lead Glassnode analyst James Check, however, says bull have very little to worry about. Bitcoin’s Pullback: Dip Or Doom? In a video analysis posted on Friday, Check reviewed various on-chain metrics concerning short-term Bitcoin holders, who first acquired their coins less than five months prior. Firstly, Bitcoin’s short-term holder MVRV ratio is now re-approaching 1.0, meaning its unrealized profit and loss have reached a break-even point. This level can serve as support after a…