Author: NBTC

The Biden administration’s efforts to develop a central bank digital currency (CBDC) have come under scrutiny as Congressman Tom Emmer warns of the potential dangers to American values and privacy. In a speech to the House of Representatives, Emmer expressed concern that the administration is “itching to trade Americans’ right to privacy for a CCP-style surveillance tool.” Emmer emphasized that CBDCs are vastly different from decentralized digital assets like Bitcoin. “Unlike decentralized digital assets such as Bitcoin, CBDCs are a digital form of sovereign currency designed, issued, and monitored by the federal government,” Emmer explained. He fears that if not…

According to Peak Mining, a subsidiary of the German bitcoin mining and infrastructure firm Northern Data, the company has announced the purchase of a 300-megawatt ERCOT-approved site in Corpus Christi, Texas. The site is adjacent to another location acquired by the firm in December 2023. Peak Mining Purchases ERCOT-Approved Texas Site Northern Data’s Peak Mining revealed the acquisition of a new Texas location featuring a 300-megawatt (MW) ERCOT-approved interconnect. Peak announced on Friday that construction is in progress and the site is expected to be operational by early 2025. The announcement highlights the deployment of indoor, custom-designed, fully-integrated, and liquid-cooled…

There are many misconceptions about Bitcoin (BTC), especially as it relates to its role in the broader financial ecosystem. Recently, a question from CNBC’s Squawk Box Host Andrew Ross Sorkin was posed to the broader community. The question probes the justifications why Bitcoin fell over the weekend despite claims of it being an inflation hedge and store of value. Responding to the question, Bitcoin bull Anthony Scaramucci said BTC is neither an inflation hedge nor is it a store of value – yet. He believes the level of global adoption of the coin is low for now, and things will…

Ethereum, the world’s second largest cryptocurrency by market value, has seen a significant rise this week. The rise was due to SEC-sourced information that these ETFs would likely be approved, while the desperate wait for Ethereum Spot ETFs continued. Asset manager VanEck has the first Ethereum ETF application, which the Securities and Exchange Commission (SEC) is expected to rule on May 23. Here’s what seven experts say about the potential results: Galaxy Digital CEO Mike Novogratz believes that a “widespread” shift in Washington over the last 24 hours has significantly changed the Ethereum ETF landscape. If the SEC’s change of…

VeChain’s partnership with UFC is not just a branding move; it’s a leap into the future of sports tech, with the latest UFC gloves containing chips powered by VeChain that provide immutable records. The network’s partnership with Gresini Racing allowed the Italian MotoGP team to deploy the first NFT marketplace powered by VeChain’s marketplace-as-a-service. VeChain has been pushing into the sports world, signing historic partnerships with some of the biggest entities in various sports. While some have dismissed these partnerships as a branding gimmick, VeChain is going beyond the marketing and offering blockchain-powered products that are changing these sports. One…

Republican lawmakers once again raised eyebrows over the controversial crypto firm Prometheum, demanding clarity from the U.S. Securities and Exchange Commission (SEC) on Wednesday over how the firm will comply with a novel framework from the agency. The SEC introduced a framework for so-called special purpose broker-dealers (SPBDs) in 2020, and the designation allows firms to facilitate the trading of digital asset securities. Though it has not fully realized that vision yet, Prometheum is one of the sole firms to receive such a registration. In a letter signed by House Financial Services Committee Chairman Patrick McHenry (R-SC), Rep. Bill Huizenga…

Kenya has signed a deal with Bitcoin miner Marathon Digital Holdings to monetize the country’s underutilized energy resources. This partnership, announced by Marathon’s CEO Fred Thiel on X, marks a significant step towards leveraging Kenya’s surplus energy for Bitcoin mining and technological development. Signed! Kenya and @MarathonDH sign a historic deal for monetizing underutilized energy across Kenya and jointly developing technology projects. pic.twitter.com/d4Zh9o8MGI — Fred Thiel (@fgthiel) May 24, 2024 “Kenya has a special spot in the history of digital currencies as it is the home of M-PESA, which in 2007 was one of the first ways for people in…

VanEck crypto research head Matthew Sigel has a message for the Securities and Exchange Commission: Let the first firm to file for an ether ETF be the first to launch. That would be (you guessed it) VanEck. A New York-based fund group that manages roughly $100 billion in assets, VanEck first filed to launch a spot ether ETF in the US in 2021. It re-upped its bid to launch such a product in September 2023. The SEC’s 240-day period to rule on the fund expires on May 23, a day ahead of the agency’s deadline to rule on a similar…

Justin Sun, the founder of TRON, has recently reaffirmed his support for the meme coin sector. As per the famous entrepreneur, although memecoins appear unconventional, they represent the potential of the community within the broader crypto market. He said this in an interview at the TOKEN2049 event. His latest post on the official X account also presents him discussing the role of these tokens in the crypto industry. He mainly referred towards Shiba Inu and Floki. Meme coins may seem unconventional, but they highlight the power of community in crypto. Building a successful project, meme-based or not, takes dedication.Let’s see…

Grayscale has filed an amendment version of its 19b-4 form for its Ethereum Mini Trust application The leading cryptocurrency asset manager initially filed the form on Tuesday. Earlier today, Nasdaq also submitted its updated 19b-4 form for the Ethereum ETF product proposed by financial behemoth BlackRock. As reported by U.Today, the sudden and shocking U-turn of the U.S. Securities and Exchange Commission on Ethereum ETFs puzzled a lot of seasoned analysts. Bloomberg ETF experts initially believed that the SEC would reject these products since there was very little engagement between the regulator and the potential issuers. However, earlier this week,…