Author: NBTC

After nearly a decade of promising financial and security audits for users and critics to look over, Tether has once again failed to put its money where its mouth is, instead choosing to announce a complete change of its business model. The rebrand is in line with many of the statements the company has been making over the past several years, around plans to get into the bitcoin mining business, the data industry, and blockchain education. The news comes on the back of new reporting from the Wall Street Journal that Tether has been extremely useful for Russia in its…

Users who lock 50% or more of their ENA relative to their balance of USDe will receive a reward boost of 50%. ENA is trading at $1.26, having almost doubled since its debut last week. Large holders have been withdrawing funds from Binance and staking to capitalize on the reward increase. ENA, the native token of Ethena Labs, surged by 15% on Monday following the announcement of “season 2,” which includes a 50% increase in rewards for a portion of users. The token is currently trading at $1.26 after debuting at $0.64 last week, according to CoinMarketCap. Ethena Labs is…

At the start of the week, spot Bitcoin and Ethereum ETFs were conditionally approved in Hong Kong. Alongside this news, digital assets platform OSL announced it will be a “sub-custodian partner” for both the China Asset Management, also known as ChinaAMC (HK), and Harvest Global Investment ETFs. Looking forward, OSL’s CEO believes that these ETFs could lead to a wave of “more progressive” regulation in China and potentially cause a ripple effect across the region. “[It] is likely to set a precedent for other financial markets in Asia,” Patrick Pan, Chairman of the Board and CEO of OSL, told Decrypt.…

NEAR Protocol co-founder Illia Polosukhin envisions a transformative shift in DAOs, anticipating AI-driven governance as the future of decision-making. The next evolution of decentralized autonomous organizations (DAOs) will be focused on the integration of artificial intelligence (AI) into the governing processes. At least that’s how the future of the sector envisions NEAR Protocol co-founder Illia Polosukhin, who spoke at an AI-themed panel on April 18 as part of Dubai’s Token2049. (Left-to-right) Tarun Chitra from Gauntlet, Sean Ren from Sahara AI, Illia Polosukhin from NEAR Protocol, and Ahmad Shadid from io.net | Source: crypto.news During the address, Polosukhin expressed his belief…

Depending on where you sit, the halving is a vital event that will burnish bitcoin’s value as an increasingly scarce commodity, or nothing more than a technical change talked up by speculators to inflate its price. But what exactly is it, and does it really matter? WHAT IS IT? The halving is a change in bitcoin’s underlying blockchain technology, designed to reduce the rate at which new bitcoins are created. Bitcoin was designed from its inception by its pseudonymous creator Satoshi Nakamoto to have a capped supply of 21 million tokens. Nakamoto wrote the halving into bitcoin’s code and it…

FED official Raphael Bostic gave some interesting information about the current state of the US economy in a recent statement. Bostic acknowledged that inflation is currently very high and there is still a significant journey ahead to reduce it to the desired level. “The road to 2% inflation will be slower and bumpier than people expect,” Bostic said. He added that while inflation is moving in the direction the FED wants, progress is slow. Despite the challenges, Bostic said he is pleased with the current pace of progress. “I’m comfortable being patient. I’m not in a mad rush to get…

Russian Ministry of Internal Affairs officials took a $53.2 million Bitcoin and ETH bribe from a crypto exchange executive, a major newspaper in the country claimed this week. Per Kommersant, the officials were named Georgy Satyukov and Dmitry Sokolov, employees at “one of the ministry’s most secret divisions.” The media outlet and major Russian Telegram news channels claimed the duo worked at the Bureau of Special Technical Events. The bureau is allegedly codenamed “Department K.” Reports claim the duo received their bribes in crypto over a period from March 19 to October 2021. Russian Ministry of Internal Affairs Rocked by…

Crypto Expert Louis recently revealed more insights regarding BlockFi’s bankruptcy saga. Established in 2017 by Zack Prince, the company embarked on a venture to lend out cryptocurrency. However, BlockFi’s fortune dipped, culminating in a bankruptcy filing in November 2022. The flaw in BlockFi’s business model became apparent as it lent crypto for speculative purposes rather than productive economic activities. This risky approach was compounded by market dynamics, such as the “widow maker” trade, where investments in products like the Grayscale Bitcoin Trust turned sour, resulting in substantial losses for investors. Moreover, BlockFi’s entanglement with major funds like Alameda Research and…

In the past month, WXT token has surged by more than 55%. At press time, Wirex Token (WXT) was trading at $0.008041. Investors are looking forward to the WPAY official launch; Wirex opened early access to WPay in January. Wirex Token (WXT) has experienced a significant surge in value fueled by strategic partnerships, integrations, and anticipation surrounding the imminent launch of WPAY, Wirex’s decentralized payment network. With a focus on empowering users through self-custody and seamless crypto transactions, Wirex has positioned itself at the forefront of the evolving digital finance landscape. Wirex expanding utility and reach Wirex Token (WXT) has…

SEC Chair Gary Gensler’s recent social media post has elicited reactions within the crypto community, with many believing that he was resigning. In a recent post, SEC chair Gary Gensler took to X to highlight his achievements as the regulatory agency’s boss over the past three years. It’s been an honor to serve as @SECGov Chair. Over the past 3 years, I’ve seen firsthand how the incredible staff at the SEC serve investors and issuers alike. A thread 🧵 — Gary Gensler (@GaryGensler) April 17, 2024 Controversial Opening Sentence However, the post’s opening sentence led several crypto enthusiasts to mistakenly…