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.

Prom Announces AirDAO Integration into Its Ecosystem

Today, Prom has announced that AirDAO is becoming a part of its ecosystem. AirDAO is a community-operated L1 blockchain committed to reshaping the landscape of Web3 through decentralized governance and collective action. Its principal objective is to produce a customer-oriented dream of DeFi. Prom Integrates AirDAO Into the Ecosystem We're thrilled to see our ecosystem expanding: we welcome @airdao_io, a community-governed L1 blockchain, on board. AirDAO is an ecosystem of Web3 projects shaped by collective wisdom via DAO governance. AirDAO's mission is to create a… pic.twitter.com/9Vy3LGjywt — Prom (@prom_io) May 17, 2024 Prom and AirDAO Partnership Enhances Web3 Scalability By…

BlockchainMay 18

Bitcoin Is a ‘Fraud’ Says Jamie Dimon, Who Vowed to Not Talk About It Again

Jamie Dimon has yet more to say about Bitcoin—albeit things he’s known for saying before. In an in-depth interview with Bloomberg on Wednesday, the JP Morgan CEO reiterated his stance that Bitcoin is “a fraud.” “If you mean crypto like Bitcoin, I’ve always said it’s a fraud,” Dimon told Bloomberg’s Emily Chang, adding that there is no hope for it as a currency. He also called Bitcoin a “public decentralized Ponzi scheme,” but conceded that blockchain and smart contracts have value. “If it's a crypto coin that can do something like a smart contract that has value, there will be…

BitcoinMay 18

Hermetica Labs launches USDh, the first Bitcoin-native synthetic USD

Hermetica Labs, a decentralized finance protocol built on top of Bitcoin, has launched USDh, the first-ever Bitcoin-native synthetic US dollar. The new offering allows users to gain yields of up to 25% with zero exposure to traditional finance. Introducing USDh 🎉 The first Bitcoin-backed, yield-bearing synthetic dollar. 🔸 Backed by #Bitcoin – not banks 🔸 Earn up to 25% yield 🔸 Native to Bitcoin L1 and L2s Join the revolution now🧵👇 pic.twitter.com/lQCP3hS5Q9 — Hermetica (@HermeticaFi) May 6, 2024 The new synthetic dollar is designed to increase liquidity and utility to the decentralized finance ecosystem formed around Bitcoin through L1 and…

AltcoinsMay 18

U.S. Treasury Says It Wants to Better Money Laundering Regulations Around Crypto, Other Illicit Finance

The U.S. Treasury Department wants to continue beefing up anti-money laundering and counter-terrorist financing efforts around digital assets, as part of its broader strategy to tamp down on illicit financing. The department published its 2024 "National Strategy for Combatting Terrorist and Other Illicit Financing" strategy on Thursday, outlining its priorities for taking on illicit financing. Treasury highlighted its ongoing work around crypto, including sanctions against certain exchanges and groups like Bitzlato and Lazarus, its settlement with Binance and its warnings about pig butchering scams. The annual document lays out how Treasury is looking at illicit finance and what role crypto…

LegalMay 18

Base records 212% increase in perpetual trading volumes

Base is the blockchain with the most significant monthly and weekly perpetual trading volume growth among the 10 largest chains in total value locked (TVL), according to data aggregator DefiLlama. This weekly jump can be attributed to the recently launched perpetual decentralized exchange (perp DEX) JOJO, which has presented a nearly 75% growth in trading volume for the past seven days. Moreover, JOJO dominated 61% of Base perpetual trading volume over the last 24 hours, surpassing $95 million. Jotaro Kujo, JOJO’s co-founder, shared that there are “quite a lot of real users” trading perpetual contracts. “I believe someone is farming…

BlockchainMay 18

Bitcoin maintains unique market path with low correlation to S&P 500

Quick Take Bitcoin (BTC) had an impressive first quarter in 2024, posting a 69% return and outperforming most traditional asset classes. Despite the launch of BTC ETFs, which many thought would lead to a stronger correlation with traditional finance assets, BTC displayed minimal correlation with major asset classes, using data from a recent Glassnode and Coinbase Institutional report. This suggests its potential as a valuable component for diversification within a portfolio. The report shows that Bitcoin negatively correlated with the DXY index and gold, while its correlation with the S&P 500 was low at 0.11. This suggests that Bitcoin’s price…

BitcoinMay 18

Week in Review – April 29 – May 5

General Updates Neo partnered with Fansland,a fan economy platform powered by blockchain and AI, to empower artists and provide consumers with new access to those in the entertainment industry. The partnership’s first initiative will entail sponsoring an event in Bangkok, Thailand, dubbed “the world’s first Web3 music festival,” which will occur later in 2024. Looking forward, Neo and Fansland plan to explore the possibilities of minting tickets to events on the Neo N3 and X blockchains, with tickets represented as NFTs that will offer exclusive holder rights. Neo released information about the progress made in addressing the security breach that…

AltcoinsMay 18

How 2 Brothers Allegedly Cheated a Noxious-But-Accepted Ethereum Practice for $25M

They had it all planned out. In late 2022, the brothers Peraire-Bueno – twenty-something graduates of a prestigious university who had turned their sights on blockchain – embarked on an effort that ultimately netted them $25 million, in one of the most sophisticated exploits in a decade or so of frequent crypto exploits. At the outset, according to U.S. prosecutors, they outlined a four-step plan. First there was "The Bait." Then there was "Unblinding the block," followed by "The Search," and ultimately "The Propagation." "In the months that followed, the defendants followed each stage as outlined in their Exploit Plan,"…

LegalMay 18

Breaking News!! Binance launches a Funding Rate Arbitrage Bot and Full Availability of Spot Copy Trading

Binance has some news for all crypto traders amid the present bull run. Binance, the leading blockchain ecosystem powering the world’s largest crypto exchange by trading volume, has recently unveiled the Funding Rate Arbitrage Bot and made Spot Copy Trading available to all its eligible users. Binance delivers on community requests for the following products At present, Binance offers over 120,000 active trading strategies on its Trading Bots Marketplace. The platform is constantly improving its range of automated trading tools to cater to the needs of its users. To that end, some of its most sought-after automated trading bots among…

ExchangesMay 18

Move-based blockchains growth relies on EVM compatibility: Movement Labs co-founder

Move-based blockchains are surging in total value locked (TVL) this year, with Sui leaping 233% and Aptos also showing significant growth of 210%, according to data aggregator DefiLlama. Rushi Manche, co-founder of Movement Labs, believes that compatibility with the Ethereum Virtual Machine (EVM) could bolster this growth even more. “I think the biggest issue for new systems is how do you onboard developers and new users and a lot of these next-gen and new VM languages realize that if you don’t have compatibility for EVM, you really limit the amount of growth that you have the first two or three…

BlockchainMay 18