Author: NBTC

Gold-backed tokens stabilize value by linking cryptocurrency to physical gold reserves. Ripple’s XRP cuts costs by reducing bank-held reserves in international transfers. XRP supporters debate if a gold peg enhances or limits XRP’s liquidity role. The World Gold Council, alongside the Bank for International Settlements (BIS), is accelerating plans to introduce gold-backed stablecoins. This move reinforces gold’s position as a Tier 1 asset under Basel III standards and aims to stabilize digital assets by linking them to physical reserves. The World Gold Council and #BIS are fast-tracking efforts to introduce gold-backed stablecoins, which reinforces gold’s tier 1 status under Basel…

Crypto tokens classified as securities have been a hot-button issue within the digital asset space. Instead, Stuart Alderoty, Chief Legal Officer at Ripple, advocates for a simplified approach to crypto regulation. He asserts that only tokens with equity or profit rights should be classified as securities. This approach can, he says, reduce legal ambiguity. Alderoty believes this targeted approach would better align with established securities law and offer clarity for all parties involved. These cases occur when tokens embody financial rights like equity, debt interests, or entitlements to profits or liquidation proceeds. Simplifying these criteria reduces legal ambiguity and supports…

A widely followed crypto analyst says that Bitcoin (BTC) is gearing up for a new vertical leg as it mirrors past movements of a major stock index. The pseudonymous analyst known as TechDev tells his 473,000 followers on the social media platform X that Bitcoin could enter into a bull market that many won’t be able to catch. While most crypto market participants view BTC price in terms of four-year halving-based cycles, TechDev suggests that Bitcoin could be in the early innings of an eight-year-long bull run. He shares a chart showing similarities in price surges between Bitcoin and the…

The Ethereum (ETH) ecosystem is constantly expanding, and one of the important processes that have emerged is the burning of ETH. Burning denotes the process by which some Ethereum is sent to a special address and is effectively taken out of circulation, thus commonly known as supply reduction. Cumulatively, 9,892 ETH were burnt this week, which is equal to $33.3 million. TOP #ETHEREUM BURNER #DEFI PROJECTS#Uniswap $UNI #Metamask #1Inch #0xProtocol $ZRX #GnosisChain #MANTRA $OM #Paraswap #Aave $AAVE #KyberSwap #Pendle pic.twitter.com/bph7nJh9fh — PHOENIX – Crypto News & Analytics (@pnxgrp) November 24, 2024 Uniswap Dominates the ETH Burn In the last week…

Some 175 million of locked up TIA will be released on Oct. 30 including to early investors, increasing the token’s supply by 80%. The unlock may lead to “some pronounced effects,” as the amount of released tokens is multiple times larger than the average daily trading volume, Anagram partner David Shuttleworth said. The native cryptocurrency of data availability blockchain Celestia (TIA) braces for volatility due to its massive supply event on October 30, which will nearly double the number of tokens in circulation. Some 175 million of previously locked-up TIA, 80% of the current supply, will be released on Wednesday,…

In a significant development for the UK’s digital asset ecosystem, Agant is preparing to launch GBPA, a pound sterling stablecoin designed to address the growing demand for regulated digital currency solutions. With over 6 million individuals and 32% of UK institutions already active in digital assets, GBPA emerges as a potential game-changer in the realm of on-chain financial services. Meeting Market Demand with Regulatory Compliance The development of GBPA stems from a clear market gap: the absence of a reliable, regulated GBP settlement asset in the digital space. According to Agant, UK participants in the digital asset market currently face…

Bitcoin could be on the verge of a major new bull run. According to Tuur Demeester of Adamant Research, in his publication How to Position for the Bitcoin Boom, we may be in the early stages of a new multi-year bull market that could propel bitcoin prices into six figures. “During this accumulation phase, we expect bitcoin to trade in a range of $22,000 to $42,000, until a new multi-year bull market pushes it well north of $120,000,” Demeester noted. Imagine securing a substantial allocation of bitcoin before this bull run begins—an allocation that could appreciate completely tax-free, funded by…

The European Central Bank is urging faster action on the digital euro as legislative delays risk hindering progress amid growing global competition. The digital euro project is facing delays in the European Union, with the European Central Bank urging faster action to prevent Europe from falling behind global competitors. Evelien Witlox, the ECB’s project manager for the digital euro, told Euronews in an interview that Europe should speed up with the development to avoid falling behind, as global competitors like the U.K. and China are also exploring central bank digital currencies. Thus far, there is no pan-European digital payment solution…

Bitcoin surged above $69,000 overnight on Sunday, hitting its highest price in three months. The rally capped Bitcoin’s strongest week in two months and added fuel to excitement in a market already gaining momentum. With BTC nearing its all-time high of $73,000, market experts are speculating on the possibility of it breaking a new record this year. Here are what analysts say are the key factors driving Bitcoin’s recent rally. However, today the BTC price experienced a sudden partial decline and is currently trading at $ 67,800. With the decline, there was a liquidation of approximately $ 70 million in…

Nov 21 (Reuters) – Silicon Valley tech giants and others who together process more than 13 billion financial transactions annually through digital wallets and payment apps will be subject to government supervision, the U.S. Consumer Financial Protection Bureau said. The new rule finalized on Thursday will bring a burgeoning consumer service under the same scrutiny faced by banks while helping protect the privacy of vast amounts of consumer data and preventing fraud and the illegal closure of their accounts, the agency said. The regulations, first proposed a year ago to govern digital services such as Apple Wallet (AAPL.O), opens new…