Author: NBTC

NBTC

NBTC is the editorial account for NBTC News, covering Bitcoin, Ethereum, DeFi, blockchain infrastructure, exchanges, mining, regulation and digital asset markets. The editorial team focuses on clear sourcing, timely updates and practical context for crypto readers.

TVL on XRPL AMMs Surpasses 7 Million XRP in One Month

The total value locked (TVL) across all the XRPL AMMs has surpassed the 7 million XRP mark, with total XRP locked rising to 3.7 million tokens. Vet, a dUNL validator and co-founder of NFT marketplace xrpcafe, first drew the public’s attention to this impressive growth rate, noting that the total value locked within the XRPL AMM ecosystem has seen a remarkable increase in just a few days after he failed to pay attention to it. Citing data from XRPL-based DeFi analytics resource DeXfi, Vet showed in a post today that all the assets locked on the XRPL AMM pools have…

AltcoinsJun 3

Elon Musk Counsels Donald Trump on Cryptocurrencies

According to a breaking development, billionaire Tesla CEO Elon Musk is advising Donald Trump on cryptocurrencies during the election campaign. Elon Musk and former President Donald Trump are in talks about cryptocurrency policy. The dialogue comes as Trump has increasingly emphasized Bitcoin and other digital assets during the campaign in a bid to appeal to a broader base of voters, according to a source familiar with the talks. Trump campaign officials have also floated the idea of inviting Musk to speak at the Republican National Convention, according to a source familiar with the matter who requested anonymity, but that is…

LegalJun 3

Bitcoin Breakout Halts as U.S. Inflation Data Looms

Bitcoin’s failed breakout likely represents temporary nervousness ahead of the U.S. CPI release, and not an outright bearish trend reversal, 10x Research’s Markus Thielen said. Markets have pared back Fed rate cuts ahead of the CPI release. A soft inflation print could put the June rate cut back on the table, injecting upside volatility in risk assets, including cryptocurrencies. Bitcoin (BTC) dropped 3% in the past 24 hours, invalidating a bullish breakout, ahead of the release of U.S. inflation data that could dictate when the Federal Reserve (Fed) starts cutting interest rates. The leading cryptocurrency by market value slipped back…

BitcoinJun 3

Ethereum Could Witness Supply Shock and Sharp Upturn in Price When Fed Pivots: CoinShares Head of Research

A top executive from digital asset manager CoinShares believes market conditions could soon send Ethereum (ETH) soaring. In a new interview with Scott Melker, CoinShares’ head of research James Butterfill says a likely upcoming Fed pivot could be bullish for both Bitcoin (BTC) and ETH. Butterfill says Ethereum could see additional upside momentum around the time the Fed starts cutting rates from the potential launch of spot market ETH exchange-traded funds (ETFs) and a supply crunch due to investors already staking a large amount of the top altcoin. “If you look at the futures market, interest rate expectations is saying…

EthereumJun 3

Will There Be a Rate Cut?

Minneapolis FED President Neel Kashkari warned that the FED will need to maintain higher interest rates for a long time. This warning came in response to repeated inflation overshoots and resilient demand. “It's likely that we'll want to hold rates for a while longer,” Kashkari said in an interview with the Financial Times' Monetary Policy Radar before the publication blackout period associated with the Fed's June 12 Federal Open Market Committee meeting. Although he is not a voting member of the committee this year, Kashkari has been hawkish on the FOMC lately. Its impact increased after inflation surprised upwards for…

RegulationJun 3

Gnosis Ventures into Privacy: Funding GnosisVPN with HOPR

GnosisDAO, the community behind Gnosis Chain, is investing $1.5M and 500 GNO tokens in HOPR to develop GnosisVPN, a fully decentralized Web3 VPN. — This move underscores Gnosis' commitment to building accessible and scalable infrastructure, prioritizing privacy and safety for users in the decentralized ecosystem. GnosisVPN will utilize HOPR's incentivized private mixnet technology, ensuring robust data protection and resilience within the Gnosis ecosystem. Friederike Ernst of Gnosis expressed the significance of privacy in the Web3 landscape, emphasizing GnosisVPN's potential to cater to billions of users seeking decentralized alternatives to traditional VPNs. “Gnosis firmly stands by its belief that privacy is…

AltcoinsJun 3

A16z Boosts Crypto's Election Fund by Another $25M to Seek Friendly Congress

A16z and Ripple have now each plowed nearly $50 million into the industry's shared Fairshake PAC. The political action committee's has so far supported several crypto-friendly winners in congressional primaries, often flooding the local markets with significant advertising dollars. A $25 million donation from Andreessen Horowitz (a16z) hit the campaign coffers of the industry's U.S. political action committee (PAC), according to a Thursday announcement from the firm, putting the amount raised by some of crypto's biggest names at about $136 million and potentially elevating the sector to the upper echelon of campaign donors. As Chris Dixon, the leader of a16z…

LegalJun 3

Rich Indians Are Being Lured by the United States’ Spot Bitcoin ETFs

Spot Bitcoin Exchange-Traded Funds (ETFs), approved on January 10 in the United States, have lured wealthy Indians who are making use of their yearly remittance quotas to trade these funds, irrespective of the country’s central bank’s warning against digital assets. According to a report from Bloomberg, affluent Indians are leveraging the Reserve Bank of India’s Liberalized Remittance Scheme (LRS), which allows citizens to remit up to $250,000 annually, seizing the opportunity to diversify their portfolios and gain exposure to cryptocurrencies. Platforms like Vested Finance, catering to Indian investors seeking overseas investment opportunities, have witnessed a surge in demand for Bitcoin…

BitcoinJun 3

Ethereum's Buterin Weighs In on Layer 2s and Culture

Ethereum co-founder Vitalik Buterin recently weighed in on the cultural shift caused by layer-2 solutions. He recalled how Ethereum gradually developed its own culture and identity after initially being viewed as merely Bitcoin with smart contracts. Now, Buterin claims that layer-2s have become a breeding ground for various subcultures within the Ethereum ecosystem. According to Buterin, layer-2s end up "culturally specializing" by showing more willingness to perform user outreach, prioritizing different values (public goods, good tech, scaling, financial inclusion, and so on) as well as having diverse participants. At the same time, the Ethereum co-founder has identified some possible weak…

EthereumJun 3

Qatar Launches Its CBDC Project Using DLT and AI Technology

Qatar Central Bank (QCB) has completed the infrastructure for its Central Bank Digital Currency (CBDC) project, an important milestone towards building the country’s digital economy. The bank will now proceed to develop custom applications and test the CBDC for large payment settlements with local and International banks. Also Read: The Hashgraph Association Partners with the QFC to launch a $50 million Digital Assets Venture Studio in Qatar The QCB considers this achievement to be in alignment with the country’s Third Financial Sector Strategy, Fintech Strategy and Qatar National Vision 2030. The development of the CBDC is yet another move towards…

RegulationJun 3