Author: NBTC

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.…

The historical data signifies that the chief crypto token Bitcoin offers a surprising outlook in terms of price movement. A popular crypto market analyst TXMC has recently discussed the current status of Bitcoin and its potential move shortly. The analyst took to the social media platform X to provide the details about Bitcoin’s recent price recovery. BTC reached its prior high before the halving and only 17 months after its FTX low. Extremely fast by its standards for a move that strong.But also if you think about it, 2022 was the first Bitcoin bear that NEVER had even a 50%…

The amount of Ethereum that’s currently staked within the network is near an all-time high as rewards for locking up ETH are on the rise—and just days before spot Ethereum ETFs are expected to begin trading in the United States. More than 33.2 million Ethereum tokens (worth roughly $114 billion) were staked as of publication time, representing about 28% of the total ETH supply, Coinbase’s data shows. The growth in the total value of staked ETH coincides with a nearly 5% increase in the estimated reward rate for staking ETH over the past month. Staking Ethereum is the process by…

MOSCOW, July 17 (Reuters) – Russia should accelerate the creation of infrastructure for payments in cryptocurrencies but carefully weigh the associated risks, its money laundering watchdog said on Wednesday, ahead of a parliamentary vote on digital assets legislation. Russia has faced significant delays in international transactions with major trading partners such as China, India, the United Arab Emirates and Turkey, after local banks, under pressure from Western regulators, have become more cautious. The new legislation, expected to be reviewed by parliament on July 23, will allow the use of cryptocurrency transactions in international payments to maintain trade flows. “This is…

Today, Ondo Finance, a leading provider of institutional-grade financial infrastructure, has announced a strategic partnership with MSafe, a renowned multi-signature asset management solution. This alliance is set to redefine how operations are secured on the Sui Network, marking a significant advancement in blockchain security and operational efficiency. The collaboration between Ondo Finance and MSafe will focus on the enhancement of the USDY stablecoin operations on Sui, a blockchain network known for its high throughput and adaptability. By integrating MSafe’s robust security solutions, Ondo aims to bolster the reliability and safety of USDY transactions, ensuring a fortified trust framework for its…

Bitcoin fell 6% to $54,600 on weekend trading despite clawing back losses from the end of last week. The world’s largest crypto by market capitalization fell to a low of $54,000 on Friday, CoinGecko data shows. The asset is currently trading at $55,200. Several headwinds for Bitcoin persist, including crypto market uncertainty, potential selling pressure from the German government, and 127,000 creditors awaiting crypto funds from the Mt. Gox bankruptcy estate. A brief price rally attempted to regain a footing above $58,000 by Sunday before conceding gains to trade at its lowest point since late February. Germany holds 39,826 BTC…

Several spot Ethereum (ETH) ETF applicants submitted S-1 amendments detailing sponsor fees and waiver details to the SEC on July 17 as they prepare for a potential trading launch next week. Almost all of the issuers have detailed fees and sponsor fee waiver terms in the latest filings. BlackRock set a 0.25% sponsor fee and said it would only charge a 0.12% fee for the first 12 months or up to the initial $2.5 billion. Meanwhile, Fidelity set the same 0.25% fee and said it would waive the entire sponsor’s fee until Dec. 31 without any other conditions. 21Shares and…

Deutsche Bank is preparing to take a significant step towards the adoption of blockchain technology with the launch of a stablecoin pegged to the euro. This development represents an important strategic move for one of the most influential banks in Europe and the world. Deutsche Bank and the euro stablecoin Tether appoints Philip Gradwell as head of economics Implications for the financial sector Deutsche Bank and the euro stablecoin Deutsche Bank, one of the leading investment banks and financial services globally, has announced its intention to launch a euro-denominated stablecoin. Stablecoins are cryptocurrencies designed to maintain a stable value, typically…