Author: NBTC
A US regulator says it’s reached a $1.5 million settlement with a bank that caused “significant harm” to its customers. The Federal Deposit Insurance Corporation (FDIC) says Bank of England, based in England, Arkansas, deceived veterans into overpaying for services while not delivering the products they were entitled to. The regulator says one of the bank’s loan production offices (LPOs) falsely told veterans that they could skip multiple loan payments when refinancing a Department of Veterans Affairs (VA) mortgage loan, violating Section 5 of the Federal Trade Commission Act. The FDIC also says that the employees misrepresented the firm’s relationship…
Mastercard has announced a significant milestone with the launch of its Mastercard Crypto Credential, now operational with its first peer-to-peer (P2P) pilot transactions. This marks the initial real-world application of the Mastercard Crypto Credential vision, originally unveiled at the Consensus conference in 2023. Additionally, the initiative has welcomed new partners into its ecosystem, further enhancing its capabilities. The Mastercard Crypto Credential is designed to facilitate and verify interactions between consumers and businesses using blockchain networks. It ensures that users meet a set of verification standards and confirms that the recipient’s wallet supports the transferred asset. Mastercard announced the launch of…
The AggLayer is a ground-breaking cross-chain bridging protocol for Ethereum that connects several blockchains and is making waves in the cryptocurrency and blockchain space. Recently, it announced a significant development in its approach to managing and securing cross-chain transactions. It addresses a fundamental issue that plagues decentralized networks: the effective and safe swapping of assets from one protocol or network of blockchains to another. Due to the expanding prevalence of blockchain technology, the number of chains is increasing, and the interactions between them may become more intricate. This expansion requires a solid process to guarantee safe and effective transactions across…
Quick Take On March 14, Bitcoin reached its all-time high, followed by a significant drop to around $60,800. Data reveals that whales holding 1,000 or more Bitcoins offloaded approximately $8 billion worth of profits at the peak. Investors who hold 100,000 Bitcoin or more took profits for the first time since May 2023, when Bitcoin traded at roughly $27,500. Analyzing the spending pattern, they offloaded approximately $1 billion worth of profit each day from March 6 to March 12. Comparing the March 2024 all-time high (ATH) of roughly $73,500 to the April and November 2021 ATHs of approximately $63,000 and…
The quest for passive income through crypto investments requires a nuanced understanding of the market, personalized strategies, and a cautious approach to high-yield promises. It is important to understand the importance of aligning investment approaches with individual goals and risk tolerance, while navigating the decentralized finance (DeFi) sector. One DeFi Protocol Does Not Fit All In a recent interview with BeInCrypto, Lucas Kiely, CIO at Yield App, shared his insights on effective strategies for earning passive income through cryptocurrency. He emphasized the importance of aligning investment strategies with individual goals and risk tolerance. “What constitutes an ‘effective strategy’ very much…
Now that the U.S. Securities and Exchange Commission has approved eight spot Ethereum ETFs, the next crypto battle is brewing on what “approved” actually means. That was the debate raging on Polymarkets, at least, after crypto degens bet over $13 million that the SEC would approve a spot Ethereum ETF by March 31. The open wager went live on January 9 as anticipation of the SEC approval for the first Bitcoin ETFs reached a fever pitch. The fundamental question driving any potential Ethereum ETF approval was whether Ethereum is a security or a commodity—and whether Bitcoin had cleared the path…
Recent disclosures have revealed substantial changes within Ripple’s blockchain payment protocol in response to Bill Morgan’s concerns about the SEC legal battle and Ripple’s On-Demand Liquidity (ODL) operations. Ripple has transitioned its ODL services for US clients from XRP to Tether’s USDT, as indicated in a recent court filing. Ok Matt. Didn’t have time yesterday but given that you were kind enough to cover this issue on YouTube I have followed up on the point you made about Ripple not having ODL customers and operating through overseas subsidiaries, in response to my concern that a wide injunction can… https://t.co/Lt2OflA9K6 pic.twitter.com/QmymbOEATV…
This week in prediction markets: Courting crypto voters appears to have boosted Trump’s odds. Doug Burgum still trails behind Tim Scott for Republican VP pick. Longshot ether ETF approval contract prints triple-digit return for bettors, despite disputes over its resolution. Taking a strong pro-crypto stance may have strengthened Donald Trump’s lead over incumbent president Joe Biden – at least if you go by the prediction markets. In the past week, Trump has promised to commute the sentence of Silk Road founder Ross Ulbricht – a figure near and dear to many in the crypto community – and vowed to make…
London — Uphold, the global Web3 financial platform, is shaking up the digital asset landscape with its latest announcement. Today, they introduced a fully-licensed, white-label service, enabling partners worldwide to establish their own branded digital asset platforms swiftly and seamlessly. With the demand for access to digital assets skyrocketing—projected to reach 1 billion crypto users by 2028—Uphold’s innovative solution couldn’t have come at a better time.—Dubbed Uphold-as-a-Service, this groundbreaking offering equips legacy institutions and financial platforms with a fully compliant resource they can customize to meet the evolving needs of their customers. Unlike other platforms, Uphold-as-a-Service boasts a comprehensive suite…
Three well-known financial market infrastructures (FMIs) – DTCC, Clearstream, and Euroclear – along with Boston Consulting Group (BCG), have revealed a blueprint aimed at establishing an industry-wide digital asset ecosystem to foster the acceptance of tokenized assets. Projected to reach a $16 trillion business opportunity by 2030, the tokenization of global illiquid assets has garnered significant attention. However, institutional adoption has faced challenges due to fragmented innovation and small-scale initiatives lacking broader ecosystem development. The jointly released paper, titled “Building the Digital Asset Ecosystem,” endeavours to redirect industry focus by outlining six principles intended to facilitate successful adoption of tokenization…