Author: NBTC
A select group of Russian companies, including electronics producers and financial institutions, has received approval to use cryptocurrencies for Chinese imports under a pilot legal framework. Overseen by Russia’s central bank and the Ministry of Finance, this initiative targets firms handling dual-use products and facing challenges with international payments, particularly with China. Russian Firms Explore Crypto for Chinese Imports Under Strict Oversight A select group of Russian firms has been granted permission to utilize digital currencies for paying Chinese imports under a pilot legal framework. This group consists of electronics producers, financial institutions, and specific members from the Russian Chamber…
Popular blockchain analytics platform Whale Alert, which tracks down large cryptocurrency transactions and publishes the details on their X handle, has detected four large XRP transactions during the last 24 hours. One of them carried more than 100 million XRP coins. Close to 200 million XRP on move According to Whale Alert, the aforementioned transfers moved 197.8 million XRP in total, which is equal to $114.1 million in fiat. The largest transaction was conducted between anonymous wallets, and it constituted 106,406,526 XRP (worth $61,418,872). 🚨 🚨 🚨 106,406,526 #XRP (61,418,872 USD) transferred from unknown wallet to unknown new wallethttps://t.co/5CRCRUxpwY —…
Coinbase, the largest U.S. cryptocurrency platform for retail and organizations, witnessed an unexpected comeback in recent days. In less than a week, it jumped from the 500th to the 395th position in all apps ranking by popularity. However, other data says retail is not here yet. Coinbase app back in App Store top 400, data says The mobile application of Coinbase, a dominant crypto ecosystem in the United States, is surging in App Store popularity rankings, trackers say. In just five days between Sept. 23 and Sept. 28, it managed to grow from the 500th place to the 395th one…
Yesterday, Germany founded the Bitcoin Federal Association in the German Federal Parliament, the Bundestag. The news was first announced in an X post by Bundestag member and Bitcoin activist, Joana Cotar. The association will focus on lobbying, networking, and influencing national and international Bitcoin legislation. It also aims to positively shape the Bitcoin ecosystem in Germany and the EU. In a reply to her post, the Bitcoin Federal Association (BTCBV) shared a press release document. The document stated that the association was officially founded with 50 members present, while another 22 participated remotely. The association creates an environment for business,…
Ethereum’s (ETH) price has struggled to breach the $2,681 resistance level, a barrier that has been in place for weeks. Despite repeated attempts to rise beyond this level, the cryptocurrency has faced stiff rejection, resulting in a drop that has increased short-term losses for investors. The most recent failed breach led to a sharp uptick in investor losses, signaling the difficulty Ethereum is having in maintaining bullish momentum. Ethereum Fails to Find Support The lack of sustained bullish momentum is sparking concerns among Ethereum investors. Over the last 24 hours, relative unrealized losses rose by 14%, reflecting the broader market’s…
The cryptocurrency sector keeps evolving with exclusive projects emerging regularly, powered by large investors. Top 7 ICO shared a list of the recent week’s prominent DeFi private fundraising events such as Celestia, Infinex, Initia, Mawari, Mind Network, Daylight, and Smolbound, signifying the increasing confidence as well as investment interest along with the potential to reform industries. Top 7 Crypto Fundraising Rounds of the WeekLet’s take a look at the top 7 biggest private crypto fundraising rounds completed in the previous week, backed by crypto venture investors including BainCapital, 1k(x), Solana Ventures, Animoca Brands, Bitkraft and others. pic.twitter.com/3IfquAaIZQ — TOP 7…
Transactions on Pump.fun, the leading Solana-based meme coin factory, have taken a nosedive, according to data provided by Dune Analytics. Pump.fun is a marketplace that makes it possible for users to create their own meme coins and distribute them. The simplicity of the platform makes it appealing for a lot of newcomers, which explains why it gained traction in such a relatively short span of time. In order to create a new token, one simply has to come up with a name for such a token, enter the ticker symbol, an image, and pay an infinitesimal fee. In late May,…
In a landmark ruling that immediately incensed the crypto community, a US judge has clarified that as a matter of law, control of money is not a prerequisite for operating a money transmitter. Specifically, business operators may not disclaim responsibility for Bank Secrecy Act (BSA) requirements simply because they avoid controlling money during its transmission. The decision has significant implications for the crypto industry, particularly for the legal cases involving Tornado Cash and Samourai Wallet. In an oral ruling on Thursday, a US District Court judge for the Southern District of New York settled this hotly contested issue in the…
FTX creditors continue to hope they will be made whole following the exchange’s collapse in November 2022. As the decision regarding the platform’s restructuring looms, it remains to be seen what form the payments will take. More developments are expected in Q4, starting October, with creditor payments likely to cause market volatility. FTX Creditors Compensation Update According to FTX creditor activist Sunil Kavuri, the exchange’s customers could get between 10% and 25% of their crypto back. The update comes as the now-defunct exchange moves 18% of the forfeiture funds ($230 million) to equity holders (shareholders), which some find concerning. “[This…
Maximizing Bitcoin Gains with ETF Data Since the introduction of Bitcoin Exchange Traded Funds (ETFs) in early 2024, Bitcoin has reached new all-time highs, with multiple months of double-digit gains. However, as impressive as this performance is, there’s a way to significantly outperform Bitcoin’s returns by utilizing ETF data to guide your trading decisions. Bitcoin ETFs and Their Influence Bitcoin ETFs, launched in January 2024, have quickly amassed large amounts of Bitcoin. These ETFs, tracked by various funds, allow institutional and retail investors to gain exposure to Bitcoin without directly owning it. These ETFs have accumulated billions of USD worth…