Author: NBTC

Users of social media platforms like X and Instagram are accustomed to seeing crypto millionaires posting snapshots of their extravagant lifestyles. However, one nation’s millionaires are notably absent from the gaudy feed of crypto influencers: China. In an attempt to enforce communist culture on mainland residents, the country’s internet regulator recently outlawed extravagant displays of wealth on social media. China’s Cyberspace Administration attracted attention to the rule by deleting a number of popular celebrities’ social media accounts. These included the 4.3 million-follower account of ‘China’s Kim Kardashian’ Wang Hongquanxing, which now shows an inaccessibility notice for ‘violation of self-discipline.’ “Once…

The debate about the Bitcoin (BTC) and gold rivalry took a new turn when legendary trader Peter Brandt weighed in on the conversation recently. In a post on the X app, Peter Brandt shared a chart, where he proved that over the past year, Bitcoin has reigned supreme over gold. Bitcoin versus gold rivalry For centuries, gold has served a dominant function as a hedge against inflation and as a store of value. Its efficiency as a store of value is, however, being questioned with the emergence of Bitcoin. While gold has a mild growth rate, Bitcoin has proven to…

The blockchain address – 0x9e927c02c9eadae63f5efb0dd818943c7262fb8e – supposedly owned by DBS held 173,753 ETH at press time, according to Nansen. The address has already made $200 million from its ether holdings. DBS, the largest bank in Singapore, is an ether (ETH) whale, according to on-chain analytics firm Nansen. The blockchain address – 0x9e927c02c9eadae63f5efb0dd818943c7262fb8e – supposedly owned by DBS held 173,753 ETH, worth $647 million at press time. At the time of writing, Ether changed hands at $3,730. Nansen said that the address has made over $200 million from its ether holdings. CoinDesk reached out to DBS seeking confirmation of the holdings.…

In a series of substantial transactions that have caught the attention of the community, XRP whales have transferred over $20 million worth of the digital asset to unidentified wallets. These transactions, coupled with a recent uptick in the price of XRP, have sparked speculation and debate about the future trajectory of the cryptocurrency. 🚨 19,904,968 #XRP (10,921,539 USD) transferred from #Binance to unknown wallethttps://t.co/OthEaCLoXS — Whale Alert (@whale_alert) April 24, 2024 Whale Alert, a prominent X account known for tracking and reporting large crypto transactions, reported a significant transfer, stating that nearly 19.9 million XRP, valued at approximately $10.9 million,…

SEC Commissioner Hester Peirce proposed a cross-border digital securities sandbox in response to a joint consultation by the Bank of England and the Financial Conduct Authority (FCA). The proposal aims to foster innovation and enhance regulatory oversight by allowing firms in both the United Kingdom and the United States to experiment with distributed ledger technology (DLT) under a unified regulatory framework. “This joint proposal reflects a commendable commitment to incorporating innovation into the financial system,” Peirce stated in the response. She advocated for including US-domiciled firms in the UK’s digital securities sandbox (DSS), suggesting that expanded eligibility would promote cross-border…

The Bitcoin price has seen a notable fluctuation, briefly surpassing $72,500 on Monday before dipping below the $70,000 threshold on Tuesday. This movement can be attributed to a risk-off sentiment among investors, largely in anticipation of the latest US Consumer Price Index (CPI) figures today. Following a low of $68,200 on Tuesday, Bitcoin managed a slight recovery, stabilizing above $69,400 at the time of reporting. Concurrently, the Hong Kong Securities and Futures Commission (SFC) has updated its registry of virtual asset management funds early on April 10. Notably, the SFC is poised to announce the inaugural list of four Bitcoin…

Samson Mow, a vocal Bitcoin supporter and boss of the Bitcoin-focused company Jan3, continues to criticize Ethereum and all other altcoins, praising Bitcoin as the only worthy digital currency. This time, he took to his X (formerly known as Twitter) handle to talk about the recently approved spot Ethereum ETFs and bash them too. “S-coins do not help Bitcoin” The topic of Mow’s tweet published earlier today was “s-coins” as Bitcoin maximalists like to refer to altcoins, showing there disapproval. Commenting on the spot Ethereum ETF approval that took place last week, Samson Mow said that “s-coins do not help…

Tron and Binance Smart Chain (BSC) are active, with a high number of active addresses transferring stablecoins. However, a closer look at the dollar volumes transferred tells a different story, where Solana and Ethereum emerge as leaders. It suggests that while there might be fewer individual transactions on Solana compared to Tron or BSC, the transactions that are occurring are of much higher value. This can be interpreted as an indication that Solana’s network is currently favored by larger investors, or “whales,” who are moving substantial amounts of stablecoins. Interesting that while Tron and BSC lead in active addresses for…

Clearstream, DTCC, and Euroclear, three of the world’s largest central securities depositories (CSDs) and central counterparties (CCPs), in collaboration with Boston Consulting Group (BCG), unveiled a comprehensive digital assets framework yesterday. This framework is designed to enhance the integration and efficiency of digital securities across financial markets. BCG has previously projected the digital assets sector could grow to a staggering $16 trillion by 2030, highlighting the significant economic potential of this initiative. “We need industry-wide collaboration and unified standards to overcome current challenges and drive the seamless integration of #digitalassets in the global financial ecosystem.” https://t.co/EMLGyvjFtX — Quant (@quant_network) May…

Cryptocurrency analysis firm QCP Capital evaluated the situation of Bitcoin (BTC) after a decline of approximately 4%. The firm noted that BTC fell below $69,000 and Ethereum (ETH) fell below $3,500 due to a relatively large outflow of -$223.8 million for BTC spot ETFs on Monday. The firm continues to monitor buyers of long-term BTC purchase contracts, particularly large daily purchases of $200k contracts for March 2025. QCP Capital has also begun monitoring market positioning for the upcoming ETH spot ETF, with a May 23 filing deadline set. The firm noticed signs similar to those seen prior to BTC spot…