Author: NBTC

Vitalik Buterin said that the series of critical developments in Ethereum’s (ETH) ecosystem in recent months have made the network’s fundamentals “crazy strong.” Buterin made the statement in response to claims that Ethereum has “weakened a lot” during this market cycle, countering the narrative by citing a series of recent advancements and achievements within the ecosystem. Strong fundamentals Buterin started by highlighting the significant reduction in transaction fees on Layer 2 (L2) solutions, now averaging below $0.01. He argued that this has made Ethereum more accessible and cost-effective for users, a critical factor in maintaining the network’s competitiveness. Onchaindata shows…

Custodia Bank has made headlines with recent layoffs, attributed largely to the regulatory pressures from the Biden administration regarding digital assets. The bank is facing operational hurdles as it remains embroiled in a legal dispute with the Federal Reserve while pushing for a crucial master account. Caitlin Long, CEO of Custodia Bank, describes the current situation as “Operation Chokepoint 2.0,” indicating a systematic approach to restrict crypto entities. This article explores Custodia Bank’s recent layoffs in the context of increasing regulatory scrutiny on the cryptocurrency sector by the Biden administration, shedding light on the implications for the industry. Custodia Bank…

Crypto analyst CryptoLollla has highlighted Shiba Inu’s (SHIB) recent market capitalization surge, surpassing that of Uniswap (UNI) and solidifying its position as the leading Ethereum-based token. This development coincides with discussions around the potential of SHIB to enhance Ethereum’s network infrastructure, as well as broader conversations about the growing importance of social technologies in the crypto space. Imagine if Community Notes will also get their own community notes 🤣🤣🤣I hope you will really consider network redundancy for Ether using #SHIB 🙏 — Lola (@CryptoLollla) July 2, 2024 In a related discussion, Ethereum co-founder Vitalik Buterin highlighted the growing importance of…

The Bank of Ghana has released draft regulations aimed at creating a framework for the cryptocurrency industry. The rules are designed to protect consumers, prevent financial crimes, and encourage financial inclusion. Virtual asset service providers (VASPs) will be required to register and meet strict standards, while commercial banks are prohibited from dealing directly with virtual asset businesses. The public has a chance to provide feedback on the proposed regulations before they are finalized. Surge in Digital Asset Use Underscores Need for Regulation The Bank of Ghana (BOG) recently unveiled draft regulations to create a digital asset regulatory framework. Released Aug.…

Bitpanda Technology Solutions and CoinMENA have partnered to expand crypto trading services in the Middle East. Licensed as a crypto asset platform under the Central Bank of Bahrain and Dubai Virtual Asset Regulatory Authority (VARA), CoinMENA aims to utilize Bitpanda’s digital infrastructure to meet the growing demands of its users. Expanding Crypto Asset Offerings According to the official announcement, this partnership promises to enhance trading efficiency and broaden the range of crypto assets available to users. CoinMENA’s partnership with Bitpanda Technology Solutions is poised to deliver several key benefits to its users. This integration ensures that users receive optimal prices…

The FX market shows a renewed bias for anti-risk Japanese yen. A similar yen outperformance early this month, triggered carry unwind and rocked risk assets, including cryptocurrencies. Some observers fear another round of carry unwind in the near future. The Japanese yen (JPY) is rallying against the U.S. dollar (USD), outperforming other fiat currencies in a redux of early August market action that was characterized by sharp losses in global stock markets and bitcoin (BTC). Since late Thursday, the yen has strengthened 2.4% to 145 per dollar, aborting a weakening bounce from the Aug. 5 low of 141.68 in a…

Ethereum, similar to most altcoins, is under significant selling pressure, struggling to shake off the weakness of early August. Even though there were flashes of strength after the climactic sell-off on August 5, prices are still below $2,800. The only positive for now, at least looking at the daily chart, is the impressive bulls’ resilience. Despite the wave of lower lows, buyers have soaked in the deluge of selling pressure, holding prices above the $2,500 mark. The bearish formation, nonetheless, remains, but one analyst thinks the rejection of lower prices below $2,500 is critical. Ethereum Bulls Must Keep Prices Above…

Double Jump.Tokyo, a Japan-based Web3 gaming company, has secured over $10 million in its Series D first closing led by SBI Investment. The round, which had the participation of Sony Group Corporation and others, will allow the company to continue developing blockchain games and offering related services, strengthening its talent base at the same time. SBI Investment Leads Double Jump.Tokyo $10 Million Series D Funding Round Double Jump.Tokyo, A Japanese company focused on developing Web3 gaming projects and providing associated services, has raised over $10 million in the first closing of its Series D funding round. The round, led by…

Lido Analytics reported a 1.36% increase in Total Value Locked (TVL), reaching $33.48 billion. This growth was primarily driven by a net addition of 95,616 ETH staked through Lido, highlighting continued confidence in the platform’s staking services. The 7-day Annual Percentage Rate (APR) for stETH experienced a minor decrease, falling by 0.04% to 2.96%. Despite this slight dip, Lido continues to attract substantial new deposits, underscoring the platform’s appeal to stakers seeking reliable returns. 📊 Lido Analytics: June 24 – July 1, 2024TLDR:– TVL up 1.36% to $33.48b.– 95,616 net new ETH staked through Lido.– 7d stETH APR at 2.96%.–…

Johnny Ng, a Hong Kong lawmaker, has called on the Hong Kong government to look into regulating decentralized autonomous organizations (DAOs) after the city’s High Court recently ordered defendants to disclose financial records related to the DAO project, according to local media reports. Ng, a member of Hong Kong’s Legislative Council, told local media on Monday that the government should introduce a legal framework for the DAOs in a bid to turn Hong Kong into a global Web3 hub. The lawmaker’s comments came after the court last week gave reasons for an order requiring six defendants to disclose financial records…