Author: NBTC

Canadian fintech firm DeFi Technologies (DEFTF) stock surged over 25% this week after the company’s crypto trading desk kickstarted July with another round of immense profits. Shares in the company rocketed to USD $1.64 on Wednesday, up from $1.27 on July 11. The share price has since corrected alongside Bitcoin’s price to $1.47 at time of writing, but is still up 15.4% since, outperforming BTC itself. The bulk of DEFTF’s gains came on Tuesday, when the company announced it had generated $14.1 million in “low-risk arbitrage trades” at its specialized trading desk, DeFi Alpha, since the start of the third…

Cryptocurrency miners in Texas are shifting their focus to AI operations as they seek to cushion themselves from the volatility in the crypto business. As crypto mining becomes unpredictable, supporting AI companies has emerged as a more lucrative alternative. This comes as AI has also been touted as a potential game-changer due to its transformative abilities across various sectors. Although a shift to AI may be a solution for the crypto miners, their operations still pose challenges to the surrounding communities. Texas crypto miners to leverage their existing infrastructure According to RA, Bitcoin miners already have the infrastructure including expansive…

The economist drew attention to the present trends in trading and the influx of BTC ETFs. Schiff used the term “smart money” to describe the people selling their BTC on exchanges. Another contentious examination of Bitcoin (BTC) including the Exchange-traded Fund (ETF) has been produced by economist and proponent of gold, Peter Schiff. Schiff drew attention to the present trends in trading and the influx of Bitcoin ETFs. Stating that the “smart money” sells BTC on the spot market. Conversely, individuals purchasing Bitcoin via ETFs were seen as “dumb money” investors. Schiff used the term “smart money” to describe the…

Ethereum ETF issuers have started filing their final S-1 registration statements. SEC Commissioner Hester Peirce believes the regulator could reconsider allowing staking in Ethereum ETFs. Ethereum whales could help ETH reach predicted all-time high of $5,627. Ethereum (ETH) is down 1% on Wednesday as issuers began filing their final spot ETH ETF S-1 drafts with the Securities & Exchange Commission (SEC) in anticipation of a launch on July 23. Meanwhile, SEC commissioner Hester Peirce also said the regulator may reconsider its position on ETH staking within the ETFs. Daily digest market movers: Issuers file final S-1s, ETH ETF staking still…

The CEO of trading giant Robinhood reportedly believes that tokenization is the future of financial services. In a new Fortune report, Robinhood head Vlad Tenev says that the “next transition” for financial services is tokenization. “You don’t have to squint too hard to imagine a world where stocks are on blockchains.” According to Fortune, several big name financial giants are already exploring tokenization, when assets like dollars and stocks are issued on blockchains, including BlackRock and Goldman Sachs. Tenev believes tokenization has the potential to cut out costly intermediaries for financial actions like trade settlements. Tenev also talks about Robinhood’s…

Pyth Network, a financial data oracle network, has announced the launch of Pyth Price Feeds and Entropy on Sei V2, as per the information shared with Finbold on May 27. This advancement allows developers on Sei V2, the first parallelized Ethereum Virtual Machine (EVM) designed to offer developers enhanced flexibility and scalability, to access over 500 real-time price feeds for digital and other major asset classes, as well as a secure and reliable source of on-chain random number generation. Real-time Pyth data on Sei V2 The Pyth Network’s pull oracle for price feeds provides Sei users with permissionless access to…

On July 3, 2024, Guy Turner, the host of Coin Bureau, released a captivating video exploring the intriguing possibility that central banks might start buying Bitcoin (BTC). Guy Turner delves into the potential impacts this could have on the market and your crypto portfolio. Turner begins by referencing El Salvador’s 2021 decision to start accumulating BTC, sparking speculation about which government might be next. Turner suggests that central banks worldwide could soon follow suit and might already be secretly doing so. He emphasizes the importance of understanding the relationship between cryptocurrency and central banks to grasp the potential future developments.…

During the past year, our newsdesk has explored using generative artificial intelligence (AI) chatbots to predict bitcoin prices and further extended this approach to forecasting the price of an ounce of fine gold. As part of this experiment, this week we used ethereum (ETH), the second largest cryptocurrency by market capitalization, to query several AI chatbots about ETH’s price prediction for Dec. 31, 2024. AI Chatbots Estimate Ethereum’s Year-End Price Ahead of ETF Listings Last week, Bitcoin.com News leveraged nine AI chatbots to forecast the price of bitcoin (BTC), with predictions ranging from $50,000 to $100,000 per coin by the…

Colombia’s Central Bank, Banco de la República de Colombia (BRC), has released a comprehensive report outlining its cautious stance on issuing a central bank digital currency (CBDC). The report, titled “Relevance and Risks of Issuing a Central Bank Digital Currency in Colombia,” underscores the bank’s concerns over potential financial risks and policy challenges associated with CBDC adoption in the current crypto landscape. According to the report, the BRC cited uncertainties surrounding the adoption of retail CBDCs, which could potentially threaten financial stability and disrupt monetary policy transmission channels. Conversely, low adoption rates might hinder the achievement of policy objectives, posing…

Ethena Labs pledged to publish monthly reports detailing custody and reserve information to improve transparency around its USDe stablecoin. Synthetic dollar issuer Ethena Labs released three custodian attestations for assets backing its $2.67 billion-strong USDe token hedged by crypto-denominated currencies including Bitcoin (BTC) and Ether (ETH). According to the defi startup, Ethena’s stablecoin holds $1.31 billion and $1.33 billion of its stablecoin reserves with Swiss firm Copper Markets AG and CH Europe Digital Solution (CEFFU) respectively. Cobo Global HK Limited manages the remainder of USDe’s assets worth $5.52 million. Ethena Labs also boasts a $42.3 reserve fund for emergency purposes.…