Author: NBTC

Bitcoin’s failed breakout likely represents temporary nervousness ahead of the U.S. CPI release, and not an outright bearish trend reversal, 10x Research’s Markus Thielen said. Markets have pared back Fed rate cuts ahead of the CPI release. A soft inflation print could put the June rate cut back on the table, injecting upside volatility in risk assets, including cryptocurrencies. Bitcoin (BTC) dropped 3% in the past 24 hours, invalidating a bullish breakout, ahead of the release of U.S. inflation data that could dictate when the Federal Reserve (Fed) starts cutting interest rates. The leading cryptocurrency by market value slipped back…

A top executive from digital asset manager CoinShares believes market conditions could soon send Ethereum (ETH) soaring. In a new interview with Scott Melker, CoinShares’ head of research James Butterfill says a likely upcoming Fed pivot could be bullish for both Bitcoin (BTC) and ETH. Butterfill says Ethereum could see additional upside momentum around the time the Fed starts cutting rates from the potential launch of spot market ETH exchange-traded funds (ETFs) and a supply crunch due to investors already staking a large amount of the top altcoin. “If you look at the futures market, interest rate expectations is saying…

Minneapolis FED President Neel Kashkari warned that the FED will need to maintain higher interest rates for a long time. This warning came in response to repeated inflation overshoots and resilient demand. “It’s likely that we’ll want to hold rates for a while longer,” Kashkari said in an interview with the Financial Times’ Monetary Policy Radar before the publication blackout period associated with the Fed’s June 12 Federal Open Market Committee meeting. Although he is not a voting member of the committee this year, Kashkari has been hawkish on the FOMC lately. Its impact increased after inflation surprised upwards for…

GnosisDAO, the community behind Gnosis Chain, is investing $1.5M and 500 GNO tokens in HOPR to develop GnosisVPN, a fully decentralized Web3 VPN.—This move underscores Gnosis’ commitment to building accessible and scalable infrastructure, prioritizing privacy and safety for users in the decentralized ecosystem. GnosisVPN will utilize HOPR’s incentivized private mixnet technology, ensuring robust data protection and resilience within the Gnosis ecosystem.Friederike Ernst of Gnosis expressed the significance of privacy in the Web3 landscape, emphasizing GnosisVPN’s potential to cater to billions of users seeking decentralized alternatives to traditional VPNs.“Gnosis firmly stands by its belief that privacy is necessary for the future…

A16z and Ripple have now each plowed nearly $50 million into the industry’s shared Fairshake PAC. The political action committee’s has so far supported several crypto-friendly winners in congressional primaries, often flooding the local markets with significant advertising dollars. A $25 million donation from Andreessen Horowitz (a16z) hit the campaign coffers of the industry’s U.S. political action committee (PAC), according to a Thursday announcement from the firm, putting the amount raised by some of crypto’s biggest names at about $136 million and potentially elevating the sector to the upper echelon of campaign donors. As Chris Dixon, the leader of a16z…

Spot Bitcoin Exchange-Traded Funds (ETFs), approved on January 10 in the United States, have lured wealthy Indians who are making use of their yearly remittance quotas to trade these funds, irrespective of the country’s central bank’s warning against digital assets. According to a report from Bloomberg, affluent Indians are leveraging the Reserve Bank of India’s Liberalized Remittance Scheme (LRS), which allows citizens to remit up to $250,000 annually, seizing the opportunity to diversify their portfolios and gain exposure to cryptocurrencies. Platforms like Vested Finance, catering to Indian investors seeking overseas investment opportunities, have witnessed a surge in demand for Bitcoin…

Ethereum co-founder Vitalik Buterin recently weighed in on the cultural shift caused by layer-2 solutions. He recalled how Ethereum gradually developed its own culture and identity after initially being viewed as merely Bitcoin with smart contracts. Now, Buterin claims that layer-2s have become a breeding ground for various subcultures within the Ethereum ecosystem. According to Buterin, layer-2s end up “culturally specializing” by showing more willingness to perform user outreach, prioritizing different values (public goods, good tech, scaling, financial inclusion, and so on) as well as having diverse participants. At the same time, the Ethereum co-founder has identified some possible weak…

Qatar Central Bank (QCB) has completed the infrastructure for its Central Bank Digital Currency (CBDC) project, an important milestone towards building the country’s digital economy. The bank will now proceed to develop custom applications and test the CBDC for large payment settlements with local and International banks. Also Read: The Hashgraph Association Partners with the QFC to launch a $50 million Digital Assets Venture Studio in Qatar The QCB considers this achievement to be in alignment with the country’s Third Financial Sector Strategy, Fintech Strategy and Qatar National Vision 2030. The development of the CBDC is yet another move towards…

In a significant move to bolster its ecosystem, Ondo Finance has announced a strategic collaboration with Finoa, a recognized European institution specializing in crypto asset management. This partnership marks a pivotal development for Ondo Finance, integrating its $OUSG token into Finoa’s advanced custody solutions. The integration aims to enhance the security and accessibility of $OUSG for institutional investors, reflecting both companies’ commitment to expanding secure investment opportunities in the burgeoning field of digital assets. Ondo Finance, known for its innovative approach in the decentralized finance (DeFi) sector, continues to expand its influence and capabilities through strategic partnerships. The collaboration with…

Consensys is ready to spend millions in a legal tussle with the United States Securities and Exchange Commission (SEC). According to CEO Joesph Lubin, the firm will fight for clarification over Ethereum’s definition. Speaking at a recent podcast appearance, the Ethereum co-founder doubled down on his support towards the second-largest cryptocurrency. He thrashed the SEC’s “regulate by enforcement” approach. SEC is killing the ecosystem The criticism comes on the heels of the commission’s recent moves against some of the biggest names in the sector. Back in June 2023, the SEC alleged that Coinbase was an unregistered national securities exchange. Soon…