Author: NBTC
Digital ruble rollout plans could cost the Russian banking sector a total of $536 million per year, financial analysts have claimed. Per Forbes Russia, the nation’s retail sector could be in for a windfall if CBDC adoption plans go ahead as planned. Experts said the retail market could expect to see annual profits rise to the tune of $857 million once the CBDC becomes widespread. Digital Ruble Rollout Plans in Motion The Central Bank Governor Elvira Nabiullina last week confirmed that the digital ruble will roll out “no earlier” than 2025. This comes after the Finance Ministry suggested that “all”…
According to the analyzed onchain data, some major cryptocurrency whales have made significant transactions in recent hours. A whale identified by the short wallet address 0x8f9f withdrew an impressive 6 million ENA (equivalent to approximately $8.58 million) from Binance and staked it all just an hour ago. This action made the whale among the largest stakers in the ENA contract. Remarkably, this whale had staked 8.96 million USD a month ago. Despite the general decline in the market, ENA has shown a significant increase of 12% in the last 24 hours. This increase coincides with a period when a total…
Bitcoin futures base, defined as the difference between futures and spot price, has risen to levels not seen since BTC reached an all-time high above $68,000 in late 2021. According to Luuk Strijers, Commercial Director of cryptocurrency exchange Deribit, the floor currently ranges between 18% and 25% annually, and these values were only seen in 2021. Strijers explained that the high annual basis allows derivatives traders to earn significant returns. This can be achieved by purchasing spot Bitcoin and simultaneously selling nominally equivalent futures contracts at a higher price. This trading strategy provides a dollar gain that can be realized…
Tether (USDT) CEO Paolo Ardoino announced that the company is on the verge of opening the doors of its tokenization platform to the public. Ardoino announced the development on its official X account. Described as a “masterpiece” by Ardoino, the platform is preparing to revolutionize the tokenization environment with its unique features, according to its own statement. The platform will be completely non-custodial, allowing users to have full control over their assets. In addition, according to the official statement, the platform will support multiple chains and asset types to meet a wide range of user needs. From bonds, stocks and…
Pro-crypto advocate and aspiring US Senate candidate John Deaton has outpaced incumbent Senator Elizabeth Warren in fundraising during the year’s first quarter. According to publicly available data from the Federal Election Commission, Deaton raised $1.36 million, surpassing Warren’s $1.1 million. Crypto Community Throws Weight Behind Deaton Fox Business journalist Eleanor Terrett revealed that Deaton’s support base included several prominent figures in the crypto industry, including Ripple’s Brad Garlinghouse and Chris Larsen, Cardano’s Charles Hoskinson, Gemini’s Tyler and Cameron Winklevoss, and Bitcoin entrepreneur Jameson Loop. Earlier in the year, Deaton launched an official campaign to unseat Elizabeth Warren in the US…
The Bitcoin (BTC) price saw big swings on Friday, with droves of traders on both the bullish and bearish side getting their positions wiped out as US spot Bitcoin ETF buyers continue to battle against profit-taking sellers. BTC begun Friday’s session above $71,000 before selling off sharply during Asia trade. Having dropped as low as the $65,500s, the Bitcoin price abruptly rallied back to $70,500 during US trade. It was last trading around $68,000, with leveraged futures positions worth $200 million having been wiped out, as per coinglass.com. That marked the most punishing day for the bulls since the 4th…
Aligned Layer, a startup touted as a “universal verification layer for Ethereum,” confirmed Sunday, April 14, that it raised $2.6 million in seed funding. Lemniscap, a seven-year-old firm that has backed multiple companies in the crypto blockchain space, led the effort. The firm previously led the $2.4-million funding round for web3 startup Safary in January. Bankless Ventures and Paper Ventures are also backing Aligned Layer, along with StarkWare, O(1)Labs and Ingonyama CEO Omer Shlomovits. Aligned Layer announced the capital raise via social media. See below. 1. We’re excited to announce that we’ve raised $2.6M in our Seed Round, led by…
Fantom has achieved one of its key network milestones after the first validator using Sonic technology deployed. The Fantom Foundation announced the feat, noting that this first step will pave the way for further improvements on the Opera mainnet. Top of that list is blockchain scalability. “Marking a major milestone, this deployment paves the way for unleashing Sonic’s impressive speeds on the Opera mainnet, achieving ~2,000 TPS at sub-second finality,” the Fantom Foundation announced. Sonic’s capacity for 2,000 TPS, which is achievable at sub-second finality, is a huge improvement on the initial Opera network’s 200 TPS. Sonic brings new era…
Crypto.com may not be the biggest crypto exchange by trading volume, but it’s certainly one of the most well-known. Lebron James plays in an arena named after the company, and the exchange has sponsorship deals with the Philadelphia 76ers, Formula 1, and the Ultimate Fighting Championship, or UFC, among others. All of these relationships with big names arguably put a target on Crypto.com’s back in the U.S., especially as the Securities and Exchange Commission continues its crackdown on crypto. Most recently, the agency informed Uniswap Labs, the developer behind one of the most popular decentralized crypto exchanges on the market,…
Buckley went on to say that Bitcoin is only a speculation asset. The cryptocurrency sector as a whole is very speculative and unregulated as per the firm. Investment banking behemoth Vanguard’s chairman of the board and chief executive officer Tim Buckley has reiterated his firm’s intention to stay out of the spot Bitcoin exchange-traded fund market. According to Buckley, his company has been getting a lot of inquiries on the timing of potential spot Bitcoin exchange-traded funds. According to him, they were even asked when the company might reconsider the product. In response, Vanguard’s chief executive officer restated the company’s…