Author: NBTC

India central bank’s Michael Debabrata Patra warns CBDC could be falsely considered as a “safe haven,” increasing bank run risks. Central bank digital currencies, touted for their potential to enhance financial inclusion and reduce settlement risks, may also pose significant risks to banking stability, Indian newspaper Business Standard reports, citing Reserve Bank of India deputy governor Michael Debabrata Patra. Addressing the matter, Patra warned that CBDCs could be falsely considered as “safe havens” during financial crises, making uninsured bank deposits more susceptible to mass withdrawals and potentially triggering “bank runs.” Patra also emphasized the growing relevance of CBDCs for deposit…

Decentralized Physical Infrastructure Networks (DePin) are transforming the tech by enabling decentralized projects in real-world infrastructure. Here’s what happened recently in the DePin sector: Nuklai collaborated with Filecoin to archive global data, Opentensor Foundation shared its post-hack plans, and Silencio celebrated 5 million check-ins. Nuklai Collaborates with Filecoin Nuklai, a collaborative infrastructure provider for data ecosystems, has teamed up with Filecoin Foundation to archive the world’s data and improve AI with detailed data understanding. The first step in this partnership is to connect with Filecoin’s decentralized network using Lighthouse Storage’s solution for better data storage. Whether it’s the actual data…

The MetaMask Card is first available in a pilot phase to a few thousand users in the EU and UK, with a wider release expected later this year. Users will be able to make purchases directly with their USDC, USDT and wETH assets held on the layer-2 network Linea. MetaMask, the popular self-custodial crypto wallet for the Ethereum (ETH) network, is starting the rollout of its blockchain-based debit card developed with payments giant Mastercard (MA) and crypto payments specialist Baanx. The MetaMask Card will initially be available in a “limited pilot of a few thousand digital-only cards” to users based…

Animoca Brands joins ZetaChain as a validator, boosting multi-chain connectivity and fostering innovative omnichain dApps. ZetaChain’s 2.0 upgrade, including Universal EVM, simplifies multi-chain interoperability and unlocks new opportunities for developers. Over 540 Web3 companies in Animoca’s portfolio can leverage ZetaChain to future-proof their apps and access 3.5M+ unique wallets. The universal blockchain ZetaChain has announced the addition of Animoca Brands, a gaming company with its headquarters in Hong Kong, as a validator. The long-term goal of seamless multi-chain interconnection and broad acceptance of digital assets is being realized in large part with this collaboration. ZetaChain and Animoca Brands are two…

The crypto market faces another brutal dip, is it another correction? A hedge fund manager believes this is caused by over shorting Bitcoin futures. This phenomenon will likely trigger a gamma squeeze towards a new Bitcoin ATH. As the crypto market faces another brutal dip, traders and analysts scramble to find the cause of the latest market dump. Many find this to be another unexpected correction, while one explains how hedge funds are the cause for this dip. James Lavish explains how hedge funds are shorting #Bitcoin and why this could lead to a gamma squeeze to $75K. pic.twitter.com/23igFZlDbH —…

Another cryptocurrency exchange began offering pre-market trading for Hamster Kombat’s HMSTR token on Monday, offering an additional way for traders to get in on the Telegram gaming phenomenon as its token launch approaches. Bybit is the latest exchange to join the fray, enabling trading of in-game points ahead of the on-chain token launch. As of this writing, HMSTR is trading for approximately $0.12 in USDT stablecoin on Bybit’s pre-market platform. The developers of Hamster Kombat have yet to announce the conversation rate at which they will award players on-chain tokens in exchange for the in-game coins they earned. For example,…

Earlier today, a substantial exchange withdrawal of Dogecoin (DOGE) caught market attention. This major transfer originated from a bankrupt crypto exchange. Whale Alert reported that over 103 million DOGE were moved from Bittrex to an unidentified wallet. Dogecoin sees significant exchange withdrawal; 103 million DOGE transferred as Bittrex winds down. Massive Dogecoin Transfer Amid Bittrex’s Wind Down The cryptocurrency landscape was stirred today following a significant transfer of Dogecoin (DOGE) from Bittrex. The now-defunct exchange saw a withdrawal of 103 million DOGE, equivalent to approximately $11.2 million at the current market rate. This movement is part of the ongoing asset…

Web3 Foundry Burnt has announced the launch of XION Foundation, the non-profit organization that will oversee the development and expansion of the proof-of-stake blockchain XION. The venture-backed platform also unveiled $XION, the native token of the layer-1 blockchain. Burnt shared news of these milestones in a blog post published on Aug. 14. XION launches native token XION Foundation will focus on democratizing access to Web3 across financial services, digital economies, and ownership. Helping to power these goals and providing utility within the L1 blockchain’s ecosystem will be $XION. In addition to network security, the token will drive the platform’s governance…

The cryptocurrency market started the day with a red picture again. Bitcoin price increased last night and exceeded $ 67,000. However, crypto followers woke up to a surprise this morning. Bitcoin price has fallen more than 2.5% in the last 12 hours, falling to $64,500 at its bottom. At the time of writing this article, it is trading at $65,652. Graph showing the recent decline in BTC price. The reason for the decline is the hawkish speech made by FED President Jerome Powell after the FED kept interest rates constant last week, and in addition to the publication of the…

Decentralized Physical Infrastructure Networks (DePin) are transforming the tech by enabling decentralized projects in real-world infrastructure. Here’s what happened recently in the DePIN sector: Hivemapper discontinued its HDS dashcam, REI Network integrated Stratos’ decentralized storage solutions, Andrena raised $18 million to develop decentralized broadband protocol DAWN. Hivemapper Discontinues HDC, Focuses on Bee Dashcam Hivemapper is introducing a new fleet product, leading to major upgrades for their Bee dashcam. This advancement prompts Andrena to discontinue the HDC dashcam. Customers who pre-ordered the HDC will automatically receive an upgrade to the Bee, with the option to request a refund if preferred. The…