Author: NBTC

Former Federal Reserve Chair Jerome Powell used his first public speech since leaving the top job to deliver a warning about political pressure on the US central bank. Speaking while accepting the John F. Kennedy Profile in Courage Award in Boston, Powell said the Federal Reserve is facing a “stress test” and argued that its ability to operate independently is critical to maintaining public trust. The remarks came just weeks after Powell’s term as chair ended on May 15, and Kevin Warsh took over leadership of the central bank. Powell Pushes Back Against Political Interference Powell did not mention President…

Movement, a project originally designed to linkblockchains built using the Move programming language with Ethereum, is pivoting toward cross-border payments, remittances and dollar savings products, reflecting a broader shift across the increasingly crowded layer-2 landscape. The company behind the blockchain said Tuesday that it had secured access to licensed payment systems in the U.S., Canada and European Union, and would focus on building stablecoin-based settlement infrastructure for emerging markets. The direction change comes as a number of layer-2 projects reassess their original scaling-focused roadmaps amid growing competition and declining differentiation among networks. With dozens of Ethereum scaling chains now competing…

Bitcoin ($BTC) is embarking on a recovery, trading above $78,000 on Thursday after support around the key Exponential Moving Averages (EMAs) earlier this week. The leading cryptocurrency is up by nearly 2% in the last 24 hours. Significant outflows from Bitcoin ETFs, including approximately $648 million in net redemptions on May 18, led by BlackRock’s IBIT, affected Bitcoin’s price earlier this week. However, the outflow has declined over the past few days as buyers have absorbed the pressure. The momentum indicators are improving, suggesting that the bulls are regaining control of the market. Spot Bitcoin ETF outflows decline Bitcoin recorded…

Ethereum price remained under heavy selling pressure for a fourth straight day on Friday as liquidations, sustained ETF outflows, and a major technical breakdown pushed $ETH to its lowest level this year. According to data from crypto.news, Ethereum ($ETH) price traded near $1,680 on June 5 after falling almost 5% on the day. The decline followed a sharp move below $1,825, a level traders had watched as one of the last major supports before the $1,600 and $1,500 zones. Ethereum’s selloff accelerated after a crowded long trade unwound across crypto futures markets. CoinGlass data showed more than $1.2 billion in…

This is an excerpt from CoinDesk newsletter ‘Daybook.’ Sign up here, if you haven’t already. While bitcoin remains pinned above $80,000, another interest rate-sensitive corner of the crypto market is booming and may suck capital out of other coins. The total value locked in tokenized Treasuries has surged to $15.35 billion, topping the mid-April peak of around $15.10 billion, according to rwa.xyz data. This comes as markets price in a higher probability of a Federal Reserve interest-rate hike (yes, an increase in borrowing costs), a stark shift from expectations for rapid rate cuts baked in earlier this year. “The June…

Former Ripple CTO David Schwartz has addressed criticism surrounding his past decisions to sell $XRP, arguing that selling is not morally inferior to holding. The recent community discussion revolves around his earlier actions and his more recent skepticism about extreme $XRP price predictions. Having doubted $XRP’s potential to reach $0.25 in its early days, Schwartz now questions the prospect of a $100 or $10,000 price. Key Points Schwartz sold most of his $XRP when it hit $0.10, having never believed it would reach $0.25. He argues that if wealthy investors believed $XRP had a 1% chance of hitting $10,000, buying…

Any whale activity in a risk-off market tends to trigger a strong market reaction. That impact becomes even more significant when a long-dormant wallet suddenly becomes active. Recently, a similar Ethereum move caught attention across the market. According to Lookonchain, a wallet inactive for three years sold 10,000 $ETH, receiving $17.72 million in $USDC at an average price of $1,772. Notably, this $USDC flow is worth watching. According to DeFiLlama data, nearly $3.5 billion has flowed out of the stablecoin market this week alone, contributing to a decline of over 1.07%. Meanwhile, $USDC’s market cap has also softened, with eight…

Anthropic just drew a line in the sand. The AI company issued a warning on May 12 declaring that any sale or transfer of its stock without explicit Board of Directors approval is void and will not be recognized by the company. The move comes as Anthropic’s valuation has ballooned in secondary markets, with estimates nearing $1 trillion. What Anthropic is actually saying The company’s position is blunt: if you bought Anthropic stock through a channel the Board didn’t approve, you don’t own Anthropic stock. You own a receipt from someone who took your money. Anthropic specifically called out several…

An unidentified $XRP whale has withdrawn millions worth of the token from South Korean exchange Upbit, coinciding with the recent price recovery. The recent transaction further reduced $XRP’s available supply on trading platforms. Meanwhile, the timing of this move and the anonymity of this address are raising eyebrows among the $XRP community. Key Points An $XRP whale withdrew 6.3 million $XRP from Upbit on Tuesday. Current data show that the wallet holds 119,800 $XRP tokens, worth $171,800, well below the amount it received from Upbit yesterday. This wallet has been active since receiving these 6.3 million tokens, broadly distributing them…

The EU crypto transaction tax under review by the European Commission could put a 0.1% levy on crypto trades across the bloc, a small charge on paper that may have outsized consequences for traders, exchanges, and the European Union’s budget plans. The proposal, outlined in an internal document circulated on May 30, is projected to raise between €3 billion and €4 billion a year. That makes this more than a niche tax story. Instead, it sits at the intersection of two major EU priorities: finding fresh revenue for the next long-term budget and tightening the framework around digital assets as…