Author: NBTC
BRICS coalition explores Ripple/crypto strategy to challenge US dollar dominance. RippleNet could replace SWIFT for cross-border transactions. XRP Ledger offers a decentralized platform for asset-backed currency. The BRICS coalition, composed of Brazil, Russia, India, China, and South Africa, is considering a Ripple/crypto plan to challenge the US dollar’s global supremacy. This action, according to analysts, has the potential to change the present financial situation. 🚨 PUTIN EYES CRYPTO FOR NEW GLOBAL FINANCE SYSTEM?Could Ripple transform the global financial landscape as the Federal Reserve once did?Wall Street analysts speculate that the BRICS coalition—Brazil, Russia, India, China, and South Africa—aims to challenge…
Recently, Customers Bank, a financial institution known for its crypto-friendly stance, has agreed to intensify its risk management practices after the U.S. Federal Reserve raised concerns about the bank’s oversight of digital asset clients. The Pennsylvania-based bank, which has served high-profile cryptocurrency firms, has committed to rectifying its compliance shortcomings. In a recently signed enforcement agreement, top executives of Customers Bank acknowledged the Federal Reserve’s findings of “significant deficiencies” in the bank’s risk management protocols and adherence to anti-money laundering laws. The Fed highlighted that the bank had fallen short in properly monitoring and mitigating illicit activities, particularly among its…
According to Luke Paglia, the COO at AGMI Studios, while traditional non-fungible token (NFT) art has lacked real utility, which explains its declining popularity, NFTs still have an important role to play in the gaming industry. To back this assertion, Paglia cites game developers’ use of NFTs “to innovate and bring new forms of value to players while transforming the way players interact.” Developers Struggle to Keep Up Paglia argued that by doing this, essentially making players owners and stakeholders, NFTs help enrich gaming communities and drive stronger engagement. Furthermore, they also encourage more people to invest their time, energy,…
Centralized crypto exchanges like Binance and KuCoin are cracking down on altcoins, removing several tokens from their platforms. Why the sudden purge? It boils down to investor protection and regulatory compliance. Let us look at the factors that lead to delisting and what it means for the crypto market. Centralized exchanges stay proactive in protecting investors against rug-pulls, market manipulation tactics, and scams crypto projects. As a result, they have a stringent listing process and if an altcoin or a project is found breaking certain policies or not being up to the exchange’s standards, the trading platform decides to delist…
Bitcoin miner centralization threatens Bitcoin, but former President Donald Trump’s pledge to slash energy prices can ensure its decentralization. Bitcoin mining pools, the majority of Bitcoin mining being done, appear to be centralized in China around a handful of entities—with Chinese mining pools making up approximately 54% of the Bitcoin hashrate, according to blockchain analytics firm CryptoQuant. News reports about China banning the mining of crypto assets exaggerated the situation on the ground. The country still dominates the hash rate, largely thanks to its cheap electricity and infrastructure. A bitcoin mining pool is a network of miners who work together…
Bitcoin’s price is consolidating in a tight range as market participants are uncertain about the future direction of the price. Technical Analysis By TradingRage The Daily Chart On the daily chart, the price has recently rebounded from the $50K area, following the significant drop below the 200-day moving average. Currently, the market is consolidating below the moving average, which is located around the $63K mark, failing to climb back above. Meanwhile, the $56K support level currently holds the market, preventing the price from dropping further. Therefore, a breakout from either this level or the 200-day moving average could determine the…
SuperRare, a prominent player in the digital art marketplace, has reported a significant 45% drop in monthly visits year-over-year (YoY). This is according to data from Statista. The decline in SuperRare’s visits reflects a broader trend of falling NFT sales and widespread disinterest in digital artwork. Estimated total number of visits to the digital art market website superrare.com Source: Statista SuperRare monthly visits drop to a new low since 2021 2024 started reasonably well for SuperRare, with a remarkable improvement in monthly visits from December 2023, marking a 29% rise in January’s figures. However, moving into February, visits slumped to…
Ethereum’s gas fees plummeted to a five-year low earlier this week, with some attributing the drop to users and applications migrating to trendier blockchains. Analyst Ryan Lee suggests that historical data shows a correlation between low gas fees and a subsequent increase in ETH price. A steep drop in fees paid to transact on the Ethereum could spell a bullish sign for the network’s underlying ether (ETH) tokens, one analyst said, citing historical data. “Every time ETH gas fees drop to rock bottom has often signaled a price bottom in the mid-term,” Ryan Lee, chief analyst at Bitget Research, in…
As the rapid growth of cryptocurrency projects like Worldcoin continues to gain momentum in Ecuador, the country’s central bank (Banco Central del Ecuador, BCE) has reiterated that digital assets do not have legal status and cannot be used as an official electronic payment method. The BCE’s statement comes in response to the increasing number of people in Ecuador engaging in cryptocurrency transactions, particularly through the Worldcoin project, which has seen thousands of individuals receiving a basic universal income in the form of 60 WLD tokens. Worldcoin’s impact and public engagement in Ecuador Worldcoin, a cryptocurrency project that launched in Ecuador…
Lemon, an Argentina-based cryptocurrency exchange and wallet, has received a license to allow fiat-crypto interactions in Peru. The exchange, the first to receive such a license in the country, now eases the processes required to deposit and exchange fiat for crypto, with users only needing a phone number for this task. Lemon Receives First Fiat-Crypto Interoperability License in Peru Lemon, a popular Argentina-based and Latam-focused cryptocurrency exchange, has recently announced that it has reached a milestone in Peru, having received the first fiat-crypto interoperability license in the country. The company, which has over 2.6 million users in Latam, will allow…