Author: NBTC
While central bank digital currencies (CBDCs) can open up a world of new opportunities, they can also reduce bank deposits, affecting the credit-creating capacity of commercial banks. “As deposits are a cheap and stable source of funding for banks, substitution of bank deposits with CBDCs could impact banks’ overall funding, and ability to lend,” the Reserve Bank of India (RBI) said in its report on currency and finance. “CBDCs could also impact the commercial bank reserves at the central bank and open market operations,” the central bank pointed out. The RBI started its first digital rupee pilot in the wholesale…
Valour Inc. has signed a memorandum of understanding with the Nairobi Securities Exchange (NSE) and Sovfi Inc. to facilitate the issuance and trading of digital asset exchange-traded products in Africa. The NSE is hopeful the collaboration will result in better product offerings and a broader investor base. Passporting of Valour’s ETPs to the Nairobi Stock Exchange Valour Inc., an issuer of exchange-traded products (ETPs) that simplify access to digital assets, has signed a memorandum of understanding (MOU) with the Nairobi Securities Exchange (NSE) and Sovfi Inc. to facilitate the creation, issuance, and trading of digital asset ETPs in Africa. The…
Polychain-backed modular blockchain platform Nubit and Web3 firm Succinct have launched Nuport, a new interface leveraging Nubit’s data availability layer to connect various blockchains. In its announcement on Aug. 6, Nubit said Nuport would allow the modular blockchain to bridge to Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and other blockchains. This will be achieved via Succinct SP1, a zero-knowledge powered virtual machine that allows developers to build real-world applications with zero knowledge proofs. Through writing Rust, SP1 integration also means any developer can access ZKPs by writing popular programming languages. Through the Nubit DA, any blockchain ecosystem can tap into…
MicroStrategy chairman and cofounder Michael Saylor has sparked excitement within the crypto community by launching a poll, asking, “How fast do you expect BTC to appreciate annually in USD over the next ten years?” The results reveal strong bullish sentiment among respondents, suggesting a significant price boom ahead for Bitcoin. How fast do you expect $BTC to appreciate annually in USD over the next ten years? — Michael Saylor⚡️ (@saylor) June 23, 2024 These results indicate that nearly half of the respondents are extremely optimistic about Bitcoin’s future, anticipating a substantial annual appreciation that could see the cryptocurrency reaching unprecedented…
HTX Ventures, the investment arm of the global crypto exchange HTX, has outlined its key investment directions for the first half of 2024. According to the company, the first half of 2024 has been a period of significant innovation and growth in the cryptocurrency market. The company made 23 investments in the first half of 2024, focusing on DeFi, Bitcoin, and AI, among others. The cryptocurrency market witnessed substantial growth in early 2024. The approval of Bitcoin and ETH ETFs by the U.S. Securities and Exchange Commission has brought cryptocurrencies into the ETF era, injecting significant liquidity and stabilizing prices.…
Argentina, one of the Latin American countries whose name is constantly associated with Bitcoin, is preparing to launch a joint project with a surprise altcoin. At this point, while Argentina is preparing to make a joint project with the popular altcoin Solana (SOL), Solana official X account announced this project. Stating that the project will start in August, Solana announced that the name of the project is “Forma”. Stating that Forma will be the first of its kind, Solana stated that the Solana Economic Zone will be created in Argentina within the scope of this project. Forma, co-created by Solana…
Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced the launch of its new ETH-BTC Dual Asset product, as per the latest updates shared with Finbold on August 8. The new product is set to empower users to maximize their earnings by holding and trading their Bitcoin (BTC) and Ethereum (ETH) directly, without the need to convert to Tether (USDT). ETH-BTC Dual Asset The ETH-BTC Dual Asset product helps investors capitalize on price movements between the two cryptocurrencies by allowing them to trade ETH against their BTC holdings and vice versa. Joan Han, Sales & Marketing Director at…
Bitcoin recently experienced a significant price drop, falling toward the $61K level and hitting a new monthly low. This sudden decline has raised concerns and questions among investors and traders. Understanding the reasons behind this plunge is crucial for anyone involved in the market. Several factors have contributed to this decline, including miner activities, Federal Reserve policies, lack of new inflows, and market indicators. Let’s delve into the key factors driving this downward trend. These Key Factors Played Behind Bitcoin’s Decline BTC Miners Sold in Large miners play a crucial role in the recent decline. There has been a notable…
Main Takeaways: Binance Labs has invested in Solayer, a leading restaking network on Solana. Solayer aims to secure on-chain decentralized applications (dApps) with improved network bandwidth while securing the L1 at the same time. Their goal is to provide dApps on Solana with a greater likelihood of securing block space and prioritizing transaction inclusion. Binance Labs, the venture capital and incubation arm of Binance, has invested in Solayer, a leading restaking network on Solana. Their aim is to empower on-chain decentralized applications (dApps) with improved network bandwidth while securing the L1 at the same time. Built natively on Solana, Solayer…
Charles Hoskinson, the founder of the IOG company that stands behind the creation of the Cardano proof-of-stake blockchain, has published a statement on the upcoming game-changer Mithril upgrade that is expected to launch this year. He also responded to a Cardano critic who called ADA an s-coin and accused Hoskinson of being a scammer. Hoskinson’s Mithril message to community Mithril’s goal is to help increase the scalability of the Cardano network. It will allow users to get away from the necessity for Applications to run full nodes and having to individually validate each transaction on the Cardano chain. Besides, Mithril…