Author: NBTC
India’s chief economic advisor wants regulators to foster innovation in the cryptocurrency sector while upholding transparency and accountability. Speaking at the Global Economic Policy Forum 2024, V. Anantha Nageswaran, the Chief Economic Advisor of the Ministry of Finance, said regulators “must not stand in the way of so-called innovations in crypto and Bitcoin.” He emphasized the need to balance innovation with societal needs, pointing out that financial illiteracy is a major challenge in India and even in developed countries. “We need to ensure that the criteria set for regulators do not obstruct innovation,” he added. Further, Nageswaran stressed the importance…
Transak, a prominent platform offering Web3-based payment infrastructure, has officially announced the release of “Transak Stream.” The launch of Transak Stream targets to revolutionize the crypto-to-fiat off-ramping, providing unparalleled simplicity in crypto-to-fiat conversions. Transak Offering Crypto-to-Fiat Off-Ramping Solutions in One-Click Conversion Transak mentioned that the latest product streamlines the conversion of crypto assets to fiat currencies just like wallet transfers. The platform added that the users just require sending crypto assets to the exclusive Transak Stream Address in their possession. Subsequently, within no time, the equal amount in fiat will be there in their card or bank account. Hence, in…
According to data, over the past month, some cryptocurrency networks have managed to attract investors’ assets on DeFi and experienced sudden increases in their total locked value (TVL). In the analysis carried out by examining the DefiLlama data, projects with a TVL value below $10 million were not added to the list for the sake of accuracy. At the top of the list is ZetaChain (ZETA). ZetaChain has seen a 124% increase in TVL value over the last year. Interestingly, the altcoin, which is listed on Coinbase but not Binance, has seen a more modest 10% increase in price over…
South Korea’s financial watchdog is investigating the Coinone crypto exchange over Movement’s token sharp price swings, raising concerns over potential unfair trading. A major investigation is underway into Korean crypto exchange Coinone after the price of the Movement (MOVE) token saw a sudden and extreme fluctuation, according to a report by Korean news outlet MTN. The Financial Supervisory Service, which is responsible for overseeing and regulating financial institutions, is reportedly looking into whether there were any unfair trades on Coinone when the price of MOVE jumped 46,000 times higher before quickly falling back down, the report reads. You might also…
Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is temporarily adjusting the availability of its services in the European Economic Area (EEA) to ensure compliance with evolving regulations, based on information shared with Finbold on Friday, December 13. In an effort to maintain transparency and regulatory compliance, Bybit has announced that it is actively pursuing a Markets in Crypto-Assets Regulation (MiCAR) license in Austria. With this license, Bybit will be eligible to offer secure and compliant services in the EEA that align with strict European standards. Compliance-based approach and the difficulty of the decision Ben Zhou, the co-founder and…
Bitcoin (BTC) has seen a notable drop in buying pressure over the last few days as the cryptocurrency’s price continues to swing between $98,000 and $10,000. This drop in bullish momentum suggests that BTC might not be ready for its next leg up. Instead, it indicates that the price might continue to trade sideways unless something changes. Bitcoin Accumulation Lowers One indicator showing a decline in Bitcoin buying pressure is the Stablecoin Supply Ratio (SSR). The SSR measures the ratio of a cryptocurrency’s market capitalization to the aggregated market capitalization of all stablecoins in circulation. Low SSR indicates higher buying…
The price of Turbo Toad Token ($TURBO), the first AI-generated memecoin, has dropped by 11% over the past few hours following a large deposit of 810 million $TURBO tokens (valued at $9.97 million) to major exchanges Binance and OKX. This significant deposit was made by a wallet linked to the Turbo Toad Token project, according to on-chain data provided by Spot On Chain. The $TURBO price dropped by 11% in the past 3 hours after a wallet linked to @TurboToadToken deposited 810M $TURBO ($9.97M) to Binance and OKX today!Previous activity shows that this wallet often received $TURBO from the project…
Anthony Scaramucci, former White House Communications Director, shared his insight in an interview with reporter Elizabeth Vargas regarding a proposal by Elon Musk and Vivek Ramaswamy to reduce government spending by $2 trillion annually. He doubts Musk and Ramaswamy will succeed in reducing the budget using their proposed policies. Speaking to news correspondent Elizabeth Vargas, former White House communications director Anthony Scaramucci called Musk and Ramaswamy “very smart, capable entrepreneurs.” However, he said that even though he doesn’t want to bet against them, they could fail in their budget-cut policies due to legislation protecting allocated budgets in Washington. .@Scaramucci doubts…
Bit Global, the custodian that was recently added to WBTC through its partnership with Justin Sun, has sued Coinbase over the delisting decision. They say Coinbase unfairly delisted WBTC in order to highlight its own competing product, cbBTC. On November 19, Coinbase announced that it planned to delist wBTC from its platform starting December 19, 2024. The decision was attributed to a periodic review of listing standards. The timing coincided with a restructuring of the wBTC ecosystem, with BitGo, the asset’s longtime custodian, transferring partial control to BiT Global Trust, a Hong Kong-based organization with ties to Justin Sun and…
On August 9, BitGo announced that it was transitioning Wrapped Bitcoin (WBTC) to a new “strategic partnership between BitGo, Justin Sun, and the Tron Ecosystem.” The announcement continued that this partner would would “continue to provide real-time proof-of-reserves.” Despite specifically referencing the Tron ecosystem and promising that real-time proof-of-reserves would also continue, WBTC on TRON, as well as WETH on TRON, have been removed from the WBTC dashboard, meaning the proof-of-reserves for this token is no longer available. The dashboard no longer includes WBTC on Tron but still features the versions on Ethereum, Base, Kava, and Osmosis. An on-chain review…