Author: NBTC
The Federal Reserve has declared the US government’s $36 trillion debt as the biggest risk to financial stability, pushing inflation and geopolitical tensions down the list. This grim acknowledgment came after the central bank’s survey, conducted by New York Fed staff between August and October, which was included in its latest semi-annual financial stability report. While the Fed kept a stiff upper lip about the banking sector, calling it “sound and resilient,” the rest of the system doesn’t seem as solid. Hedge funds are maxing out their leverage to record levels, and households—especially those with low credit scores—are falling behind…
The official X account of the Shiba Inu ecosystem has reacted to a post from dog-themed meme coin Neiro on Ethereum (NEIRO), teasing the metaverse. In an October 29 tweet, the Neiro on Ethereum team poated a picture showing Neiro, its Shiba Inu mascot, on a virtual reality headset with the caption “NEIRO: The Future Unleashed.” Notably, the post sparked speculations among the crypto community, drawing attention from rival Shiba Inu. Shib Says Shiba Inus Ready to Conquer the Metaverse Responding to the Neiro on Ethereum post, the Shiba Inu team welcomed the project to the metaverse, stating that the…
President-elect Donald Trump has nominated Scott Bessent, a prominent hedge fund manager known for his pro-cryptocurrency stance, to serve as the next Secretary of the Treasury, multiple news outlets reported late Friday. Bessent, founder of Key Square Group, has been a significant economic adviser to Trump’s campaign and is expected to play a pivotal role in shaping the administration’s economic policies. Born in 1962 in Conway, South Carolina, Scott Bessent graduated from Yale University in 1984. He began his career in finance at Brown Brothers Harriman and later joined Kynikos Associates. In 1991, Bessent became a partner at Soros Fund…
Binance, the world’s largest crypto exchange, has exceeded 240 million users globally, according to a Nov. 22 statement shared with CryptoSlate. This number means that the crypto trading platform has added 70 million new users this year, considering it finished 2023 with 170 million users. So, if Binance were a nation, its population would rank sixth globally, surpassing Brazil, Nigeria, and Russia. Binance CEO Richard Teng revealed that this growth stems from retail and institutional adoption. He noted that the exchange has seen a sharp rise in institutional onboarding, doubling rates in the past year. He stated that Binance now…
Crypto analyst EGRAG spotlights Bitcoin four-year cycle, predicting massive price movements that could lead to the market top next year. Bitcoin, the largest cryptocurrency by market cap, recently dipped to a multi-day low of $66,500, marking a 0.57% decline in 24 hours. However, it rebounded to $66,887.72, showing resilience and reflecting a 1.67% gain over the past week. The price fluctuations have prompted notable crypto analysts to weigh in on Bitcoin’s potential trajectory over the coming years, with many discussing the implications of the four-year cycle. Egrag’s Bitcoin Prediction Analyst Egrag Crypto recently noted the importance of Bitcoin’s four-year cycle…
As of now, two heavyweight block producers are in charge of 95% of all Ethereum (ETH) blocks. This opens a path for potential transaction censorship opportunities associated with advanced MEV strategies. EIP 7805, an upcoming Ethereum (ETH) upgrade, might save the second largest blockchain from this, Jarrod Watts of Abstract Chain says. EIP 7805 to protect Ethereum (ETH) from transaction censorship: DevRel opinion Right now, Ethereum (ETH), the second-largest blockchain, might be vulnerable to transaction censorship. It became possible thanks to dramatic centralization of block production, with 95% of blocks controlled by two entities. FOCIL: Fork-choice Enforced Inclusion Lists, a…
Japan’s Yomiuri Shimbun reported Saturday that the Financial Services Agency (FSA) is holding closed talks with “experts” about cracking down on Bitcoin and crypto in Japan. Some residents are bullish on the news, as they hope for tax relief via potential legal amendments. Their hopes and skyrocketing centralized adoption in Japan hinge, in part, on the buzz that followed Trump’s re-election in the United States. Japan’s Yomiuri Shimbun reported early Saturday (JST) that the country’s financial regulator may be moving to crack down on crypto. In view of reining in unregistered peer-to-peer use (ironically, the whole point of Bitcoin in…
Shiba Inu (SHIB) is at an inflection point, a trend that aligns with the broader altcoin ecosystem, most of which are paring off the gains accrued recently. For Shiba Inu, the 24-hour price comes in at $0.00001859 amid a marginal loss worth 0.38%. In all of these losses, there is sheer confidence that the meme coin might stay resilient in the short-to-mid term. Real Shiba Inu sell wall According to data from crypto analytics platform IntoTheBlock, Shiba Inu has formed a major sell wall or resistance level in the $0.00002 to $0.000024 price range. At this price point, 88.98 trillion…
Teresa Goody Guillen, the potential next Securities and Exchange Commission Chair has highlighted the major changes coming into the agency under Trump’s presidency. Guillen shared her enthusiasm for making “SEC great again!” and “crypto great again!” on her X post, while sharing the press release about Gary Gensler’s departure from the position. She says that “SEC must restore trust, engage with industry, and end regulation by enforcement” while chanting Trump’s popular slogan. Furthermore, she pointed towards SEC’s reformation towards protecting investors and staging America as a prominent country on the world’s financial front. “It’s time to knockdown needless obstacles, remove…
Deribit will integrate Ethena’s USDe as collateral by January 2025. USDe’s decentralized model uses derivatives, unlocking new structured products. Ethena’s governance token ENA token hit an intraday high of $0.63 on the integration news. In a groundbreaking move for the cryptocurrency derivatives market, Deribit, one of the world’s largest crypto derivatives exchanges, has revealed plans to integrate Ethena’s synthetic dollar, USDe, into its cross-collateral pool. This integration, set to launch in early January 2025, is contingent upon receiving regulatory approval. USDe’s integration into Deribit Exchange Ethena’s USDe, a synthetic stablecoin pegged to the US dollar, offers unique decentralized backing through…