Author: NBTC

The Bank for International Settlements (BIS) has released new requirements for banks looking to hold XRP and other Group 2 crypto assets. The BIS, which positions itself as a bank for central banks globally, has introduced new regulations governing banks’ exposure to Group 2 cryptocurrencies. Notably, the BIS had in the past defined what Group 2 crypto assets are in an effort to separate them from other cryptocurrencies. Group 2 assets include unbacked crypto assets such as XRP, Bitcoin (BTC), and Ethereum (ETH). The category also contains stablecoins that lack effective stability mechanisms. According to the BIS’ classifications, these assets…

Zeebit, a decentralized non-custodial protocol, is set to launch the first Web3 microgaming platform within the Solana blockchain ecosystem. The platform’s new onchain risk-on game platform will go live on Sonic, the Solana Virtual Machine (SVM) Layer 2 chain and offer a range of innovative Web3 games, the Zeebit team said in a press release sent to crypto.news. “Our collaboration with Sonic is possible thanks to the enhancements made to the SVM in recent months, utilizing core functionality to unlock new types of games and experiences,” Bayzian, core contributor at Zeebit, said. Zeebit’s platform will offer classic casino games and…

A Financial Times report suggests that a victory for Donald Trump in the U.S. presidential election could spark a Bitcoin rally in late 2024. The report cited Trump’s public support for the crypto industry and engagement with the technology as potential catalysts for a Bitcoin surge if he wins. Some crypto investors are backing the former president’s re-election campaign, aligning with his pro-crypto stance. Trump has even dubbed himself the “crypto president” and pledged to support the digital asset industry if re-elected. He claims his election would usher in a new era of crypto in finance. Bitcoin surged in early…

Following former President Donald Trump’s appearance at the Libertarian National Convention, the meme coin associated with his name, maga (TRUMP), has soared more than 30% in the past day. Current statistics show that the meme coin TRUMP is the top-performing cryptocurrency over the last 12 months, boasting a 98,352.40% increase. TRUMP Meme Coin Skyrockets Post-Libertarian National Convention Speech Meme coins have been a hit this year, and the digital currency named after Donald Trump has experienced significant gains over the past year. On May 26, following Trump’s speech at the Libertarian National Convention, the meme coin maga (TRUMP) jumped 31.7%…

Hong Kong’s financial regulator has unveiled a list of its stablecoin issuer sandbox participants, including Standard Chartered and Animoca Brands. The Hong Kong Monetary Authority (HKMA) has announced the list of participants of the stablecoin sandbox, who can already start their experiments with issuing digital currencies backed by fiat currencies. In an announcement on Thursday, HKMA listed JD.com’s subsidiary JINGDONG Coinlink Technology Hong Kong, RD InnoTech, and a collaboration involving Standard Chartered Bank (Hong Kong), Animoca Brands, and Hong Kong Telecommunications among the sandbox participants. A person familiar with the matter told crypto.news that the coalition plans to leverage the…

Band Protocol has integrated its Oracle services on the Cronos zkEVM testnet and is progressing significantly. This technical collaboration aims to bring Band Price Feeds to ZK-based chains and enhance Cronos’s infrastructure. This partnership promises to create a more developer-friendly environment, ensuring accessible and reliable data. Since their collaboration began in 2021, BandChain has empowered the Cronos ecosystem. The recent integration on the zkEVM testnet marks a significant milestone in their mission to innovate and expand blockchain capabilities. By merging their strengths, Band Protocol and Cronos aim to equip developers with the tools to build efficient, secure, scalable decentralized applications.…

Bitcoin (BTC) investors are back using the blockchain as Bitcoin’s transaction volume surged, breaking a four-month downtrend. Meanwhile, the crypto exchange‘s flow and social context indicators suggest people are buying the recent price dip. Previously, a transaction volume uptrend sent Bitcoin’s price from $26,500 to the $73,800 all-time high. BTC then consolidated in a four-month price range. As this developed, the transaction volume indicator entered a downtrend, which the cryptocurrency just broke from July 3 to 5. Finbold gathered this data from Santiment on July 6, as shown in the following chart. Notably, the network moved over 750,000 BTC on…

Vitalik Buterin, the co-founder of Ethereum, recently highlighted a worrying trend of endorsing political candidates based on their views regarding cryptocurrencies. In a lengthy blog, Buterin was quick to point out that endorsing candidates for the sake of being pro-crypto could come at the cost of compromising the principles of crypto. This statement is made at a time when many debates are going on concerning digital assets and the policies associated. These topics are already trending key issues being addressed in the legislative processes of the US and the EU. Buterin highlighted specific legislative efforts like the Financial Innovation and…

Italy’s state-owned development bank Cassa Depositi e Prestiti SpA (CDP) and Intesa Sanpaolo, the largest lender in the country with over $1 trillion of assets, completed a digital bond issuance using blockchain rails on Thursday, the first such transaction under the country’s new digital asset rules. The €25 million bond with a four-month maturity was issued by CDP on the Ethereum-based Polygon (MATIC) network, with Intesa Sanpaolo being the underwriter and sole investor, according to a press release. The cash flow was settled in euros on the same day (T+0) using the Bank of Italy’s “TIPS Hash Link” tool that…

In a recent exposition on Bitcoin’s trading mechanics, renowned cryptocurrency analyst Willy Woo offered critical insights that could redefine strategies for Bitcoin investors, especially those using leverage. According to Woo, the conventional approach of buying futures to bet on Bitcoin’s price movements might not be the most effective strategy. Instead, Woo advocates for purchasing Bitcoin spot with margin as a superior tactic for those looking to leverage their positions in a bullish market. This recommendation stems from the structural differences between how futures and spot markets operate. Futures contracts allow traders to speculate on Bitcoin’s future price without needing to…