Author: NBTC
Crypto.com has secured full approval from the Central Bank of Bahrain to provide payment service provider (PSP) services. This approval was granted to its subsidiary, FORIS GFS BH B.S.C. CLOSED, registered in Bahrain. This marks another regulatory achievement for Crypto.com in the region. The PSP licence enables Crypto.com to expand its services, offering e-money and fiat-based payment solutions. The company plans to introduce its prepaid cards in the region as part of this expansion. Bahrain is recognized as a centre for digital asset regulation within the Gulf Cooperation Council. It was among the first in the region to issue crypto-asset…
Giovanni Santostasi’s Bitcoin Power Law model suggests Bitcoin’s price will not fall below $30,000 again, indicating a floor for future valuations. The model shows Bitcoin’s price trajectory will continue to rise, with its current ‘fair price’ at $86,339 and potential ceiling at $332,543. As depicted in the charts from Bitbo, the model uses linear regression to establish support and resistance bands, which have historically contained Bitcoin’s price movements. The support band, derived from past price data, suggests a lower boundary that Bitcoin’s price should not breach, while the resistance band indicates an upper boundary. The model predicts that Bitcoin should…
BlackRock has amended its custody agreement with Coinbase, updating operational procedures for its iShares Bitcoin Trust ETF. According to an SEC filing dated Sept. 16, the amendment to the Coinbase Prime Broker Agreement introduces changes aimed at improving withdrawal processes and asset management during unsettled trades. The modifications shorten Coinbase Custody withdrawal processing time when handling withdrawals from the Vault Balance to a public blockchain address while Trade Credits remain unpaid. The agreement also permits the Trust to withdraw bitcoin from either the Vault Balance or the Trading Balance to public blockchain addresses, provided that an amount equivalent to the…
Cryptocurrency exchange Binance has informed its users about an upcoming enhancement to the EOS network. A scheduled upgrade and hard fork will occur on September 25, 2024, at 16:00 UTC. In preparation, Binance will halt deposit and withdrawal functionalities on the EOS network to facilitate the process. This move intends to bolster transaction safety and improve the overall user experience. Contents hide 1 How Will Deposit and Withdrawal Operations Be Affected? 2 What Should Users Expect Post-Upgrade? How Will Deposit and Withdrawal Operations Be Affected? The scheduled EOS network update will officially commence at 17:00 UTC. During this period, EOS…
A recent report by Ecoinometrics revealed that Bitcoin spot exchange-traded funds (ETFs) have accumulated almost 300,000 BTC worth over $19 billion within the last seven months. This ongoing accumulation has been pivotal in Bitcoin’s uptrend since this year, as it signals long-term confidence among investors. From January to mid-March, Bitcoin ETFs experienced rapid growth, collecting 200,000 BTC in just two and half months of launch. This surge highlights strong initial demand and swift adoption of Bitcoin ETFs at the time. However, the pace of accumulation slowed significantly from mid-March to July, taking twice the time to gather an additional 100,000…
Cardano founder raised concerns about the Trump-backed crypto platform, warning it could bring regulatory challenges and politicize the industry. Charles Hoskinson, founder of the Cardano (ADA) blockchain, has expressed concerns over World Liberty Financial, a new decentralized finance platform backed by former U.S. President Donald Trump and his sons. In an interview with the Financial Times, Hoskinson warned that Trump’s push into crypto could complicate the regulatory landscape for the industry, saying that “everything Trump does the left hates with such a passion.” He also cautioned that this partisanship could provoke investigations from U.S. regulatory bodies, potentially destabilizing the broader…
Phoenix Group, a reliable crypto analytical platform, shares an updated list of top staking crypto assets based on the annualized staking reward ratio. These top 15 staking assets open significant and valuable opportunities for investors. The report was shared on the official X account on the 17th of August 2024, which showcases 15 crypto assets offering competitive and lucrative staking returns. TOP ASSETS BY ANNUALIZED #STAKING REWARD RATE$LAVA $FLIX $NRG $MPC $MED $HEART $NOM $COREUM $LUNA $ONT $SQD $FIS $FIL $ATOM $CTK pic.twitter.com/w7zfdGmLR8 — PHOENIX – Crypto News & Analytics (@pnxgrp) August 17, 2024 Report Highlights the Staked Value and…
Fraudsters continue targeting crypto exchanges, with Bybit reporting nearly $1 billion in suspicious withdrawal requests during the first half of 2024. Bad actors seem to be ramping up efforts to defraud crypto exchanges, with Bybit detecting nearly $1 billion in suspicious withdrawals during the first half of 2024. In a Sept. 20 press release, the exchange said it prevented over $79 million in client assets from being lost through its enhanced security measures, which leverage artificial intelligence technology to detect and block fraudulent activities. Bybit also flagged abnormal withdrawal requests totaling $940 million, with over 8.4% confirmed as fraud attempts.…
Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. If there’s one thing that is becoming clear, it’s that hyper-financialization is inevitable, and our best chance to navigate it successfully is through Bitcoin (BTC). This decentralized cryptocurrency, which is known for its fixed supply and robust security, offers a unique solution to the upcoming problem of wealth inequality and concentration of power. By adopting Bitcoin, we can create a more transparent and resilient financial future, or we risk losing our financial sovereignty to a handful of…
Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. As crypto continues to transition from a niche interest to an important financial tool, we’re starting to see the potential for how it could help reshape traditional global economic hierarchies. You might also like: Investing in MENA’s crypto future: Opportunities and challenges | Opinion Tensions are running high, and tectonic shifts are already underway as we see the world’s great superpowers vie for security, prosperity, and influence. From sanctions, seizures, and the general weaponization of financial infrastructure…