Author: NBTC

BRICS Pay will help the alliance reduce its dependence on the U.S. single currency in global business transactions. Russia plays a key role in developing BRICS Pay and aims to integrate digital money. The platform’s launch could particularly shift the global financial landscape and challenge traditional systems. The BRICS alliance, including Brazil, Russia, India, China, and South Africa, is preparing to introduce an important development in wider finance. The group plans to unveil the BRICS settlement blockchain platform at its October 2024 summit. Announced in March, this platform intended outcomes to reduce reliance on the U.S. dollar for international movements…

A widely followed crypto analyst says that digital assets need looser monetary policy before moving another leg up. In a new video update, crypto strategist Benjamin Cowen tells his 806,000 YouTube subscribers the Federal Reserve needs to reverse course on its tight monetary policy before the crypto markets can take off. According to Cowen, Bitcoin (BTC) has been slowly bleeding out since March due to the Fed’s hesitation to engage in quantitative easing. However, he says the Fed loosening policy by September appears to be the most likely scenario. “Can [the crypto market] durably change before the Fed pivots to…

Blockchain analysis platform Santiment revealed the centralization of blockchain networks and the concentration of tokens held by top wallets. The report highlighted the top ten most popular cryptocurrencies and analyzed the percentage of supply controlled by the top ten addresses. Polygon (MATIC) emerged as the most centralized, with the top ten addresses holding 69.4% of the supply. This was followed by Shiba Inu (SHIB) at 61.2%, Uniswap (UNI) at 50.8%, Pepe (PEPE) at 46.1%, Ethereum (ETH) at 44.0%, Tether (USDT) at 33.1%, and Chainlink (LINK) at 31.1%. The altcoins with the least centralization, as highlighted by Santiment, include Toncoin (TON)…

The wife of a senior Binance executive accused of laundering $35 million in Nigeria has issued a plea for the U.S. government to intervene in what she considered to be the unlawful detention of her husband, Tigran Gambaryan. Gambaryan, a former IRS agent, has been held in a Nigerian jail since February on money laundering charges. Gambaryan’s health has deteriorated while in jail, but a Nigerian court denied his request for bail in May, citing flight risk concerns. “The U.S. government must do more to help Tigran. I urge them to use every available tool to free an innocent American…

Mino Games shifts from Web3 to Web2 due to setbacks. Dimensionals faced fraud, DDoS attacks, and NFT market volatility. Mino Games, the creator of the digital card game Dimensionals, has announced a strategic shift from Web3 to Web2, abandoning its initial blockchain and NFT integration. The decision comes after the project encountered multiple setbacks that significantly impacted its revenue streams. Dimensional, which initially attracted attention for its blockchain-based gameplay and NFT integration, faced unforeseen challenges since its launch. The game was targeted by robot fraud and DDoS attacks, which disrupted its operations and deterred players. Additionally, the volatile nature of…

Siemens has issued a €300 million digital bond, marking its second use of blockchain technology to streamline securities transactions under Germany’s electronic securities act. German multinational technology conglomerate Siemens has launched its second digital bond, valued at €300 million on a blockchain, under Germany‘s electronic securities act in a bid to expand its expertise in the distributed ledger market. In a Sept. 4 press release, the Munich-headquartered company said the issuance follows its debut of a €60 million digital bond in 2023, underscoring its commitment to advancing digital financial solutions. The bond, which carries a one-year maturity, was settled through…

Bitcoin (BTC) short-term holders are experiencing the largest amount of unrealized loss since the bear market lows in 2022, which has added more pressure on prices due to fears of another sell-off, according to the latest edition of the “Bitfinex Alpha” report. The Short-Term Holder MVRV (Market Value to Realised Value) ratio compares the current market price of BTC to the price at which coins were last moved on the blockchain. The report highlighted that when the MVRV ratio is below one point, as it is currently, it indicates that short-term holders would sell at a loss if they decided…

Polygon (MATIC) continues to face challenges as its price remains at weekly lows. However, recent large-scale transactions have sparked interest and speculation within the crypto community. On August 30, Whale Alert, a blockchain analytics service, reported a significant transfer involving 196,000,000 MATIC tokens worth $83.6 million. This transfer, which occurred from Polygon Staking to an unknown wallet, has generated attention due to its timing and the potential implications for MATIC’s future. 🚨 🚨 🚨 🚨 196,000,000 #MATIC (83,606,586 USD) transferred from Polygon Staking to unknown wallethttps://t.co/H9OSXN0r7n — Whale Alert (@whale_alert) August 30, 2024 Data confirms the transaction occurred today at…

Whoever wins the upcoming U.S. election and becomes president must work towards regulatory clarity for the crypto sector, Lucy Gazmararian, founder and managing director at Token Bay Capital, says. Gazmararian shared this perspective during an interview with CNBC on Sept. 2. She noted that the bull market spike seen earlier in the year happened amid the spot Bitcoin (BTC) exchange traded fund mania. However, as well as ETFs, there’s been this rise of crypto into a topic in politics amid the upcoming election. Gazmararian on crypto clarity in the U.S. While the crypto market’s upward trajectory has tapered off slightly,…

Bitcoin mining profitability is at a record low, the report said. The aggregate market cap of the U.S.-listed bitcoin miners tracked by the bank fell 15% last month, JPMorgan said. The bank noted that mining difficulty rose 9% from the previous month. Bitcoin (BTC) mining profitability is stuck at record lows, JPMorgan (JPM) said in a research report on Tuesday. “We estimate bitcoin miners earned an average of $43,600 per EH/s in daily block reward revenue in August, the lowest point on record,” analysts Reginald Smith and Charles Pearce wrote. That compares with a peak value of $342,000 in November…