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.

Exiled Russian Opposition Leader Launches Blockchain-Based Referendum on Vladimir Putin’s Election Win

Exiled Russian opposition leader Mark Feygin is launching an anonymous, blockchain-powered referendum on the legitimacy of Vladimir Putin’s victory in Russia’s election. The vote will be conducted on an app called Russia2024, built using Rarimo’s Freedom Tool. Vladimir Putin just won his fifth term as Russian president, though the 87% landslide election victory has been labeled preordained, stage-managed and a farce. Now, exiled opposition leader Mark Feygin is leading an effort to give Russians an anonymous, blockchain-powered way to register a "protest vote" against Putin. The results of this effort would, of course, have no legal weight in Russia and…

BlockchainMay 11

Bitcoin on-chain metrics are “decidedly positive” after the halving, highlights Bitfinex report

The Bitcoin (BTC) on-chain dynamics after its fourth halving indicate that BTC exchange outflows are reaching peaks not seen since January 2023 and that the market is showing a “robust absorption” of selling pressure. According to the latest edition of the “Bitfinex Alpha” report, those are “decidedly positive” on-chain metrics. Since the SEC’s approval of spot Bitcoin exchange-traded funds (ETF) in the US on January 10, 2024, the BTC landscape has seen a marked transformation, the report highlights. The first quarter of the year has witnessed Bitcoin ETFs amassing approximately $60 billion in inflows, providing significant support to the market.…

BitcoinMay 11

Arch Labs $7 Million to Develop Bitcoin-Native Application Platform

Arch Labs has secured a $7 million investment to develop a Bitcoin-native application platform. The seed funding round was led by Multicoin Capital with other participants and contributors including Portal Ventures, OKX Ventures, Big Brain Holdings, CMS Holdings, Tangent, Cypher, and Newman Capital. Arch is proud to be building and innovating in the Bitcoin ecosystem, alongside some of the industry's top funds and strategic partners. Announcing the closing of our seed round led by @multicoincap, hear what they have to say about us: "Arch Network's emergence is a direct… pic.twitter.com/jT6Qy6a45y — Arch Network (@ArchNtwrk) May 9, 2024 Bridgeless Bitcoin-Native Network…

RegulationMay 11

Ondo Finance to Launch RWA Payment Network

Ondo Finance, a pioneer in decentralized finance (DeFi), has announced a strategic partnership with Zebec Network, a platform specializing in tokenized real-world assets (RWA). This collaboration aims to enhance real-time payroll payments using Zebec’s advanced payment technology and Ondo’s USDY stablecoin system. Ondo Finance Partners With Zebec Network The partnership seeks to expand the operation of USDY, a stablecoin known for its stability and performance. It will also integrate Zebec’s Instant Card technology and RWA payment solutions. The combined technologies aim to provide companies, traders, and individual users with “real, free, and problem-free” financial services, enhancing the overall efficiency and…

AltcoinsMay 11

Binance banned Tron Foundation for market manipulation, report

A report from the Wall Street Journal has alleged that on multiple occasions, Binance ignored its own internal investigations about market manipulation in favor of preserving relationships with important clients. In one case in 2023, a trading firm called DWF Labs, led by Russian Andrei Grachev, was making over $4 billion in trades on Binance per month. DWF allegedly offered a service to clients where it would create “artificial volume” and drive up the price of tokens. One example described in the report is about Yield Guild Games, a token that DWF invested in. Grachev tweeted about it, DWF sold…

ExchangesMay 11

Aspecta Partners with ZKM to Stimulate Developer Ecosystem

Aspecta is pleased to announce its partnership with ZKM for the purpose of stimulating the ZKM developer ecosystem. This partnership is intended to inspire innovation, pushing the ZKM future forward. This is the start of an amazing ride with the ZKM BuilderState debut. ✨ We are excited to partner with @ProjectZKM, as we join forces to turbocharge the ZKM developer ecosystem! 💪 ZKM #BuilderState is now live: Link your GitHub and dive into the vibrant builder hub. Let's shape the future of ZKM together 👇https://t.co/IqIH3w5SOP pic.twitter.com/sTH8zOFnZ8 — Aspecta (@aspecta_id) May 10, 2024 ZKM Aims to Unify Fragmented Blockchain Space for…

BlockchainMay 11

Surge in Bitcoin transaction fees linked to meme coin, Runes etching craze

In a frenzied bid to capitalize on the latest wave of meme coins, transaction fees on the Bitcoin network surged to $82 million on Saturday. According to TheMinerMag, users were eager to mint tokens via the Rune protocol, which facilitates the creation of fungible tokens. These digital assets’ appeal mirrors similar tokens’ success on other blockchains, like Ethereum’s PEPE and Solana’s WIF, which have performed exceptionally well this year. According to Bloomberg, the Rune protocol, devised by developer Casey Rodarmor, also supports the creation of nonfungible tokens, further enhancing its utility. Rodarmor preferred the term “etching” over “minting” to more…

BitcoinMay 11

No current need for CBDC, Central Bank of Chile finds

The Banco Central de Chile recently published its second report exploring the concept of a central bank digital currency (CBDC). It ultimately found there’s no need for one due to high levels of financial inclusion in the country (85-87%), but said it would prepare nonetheless. The report was the second of its kind and included 450 responses and the findings of eight working groups. Innovation, efficiency, and concerns about acceptance Survey respondents cited financial innovation, alternatives to electronic payments, a desire to encourage competition, lowering costs associated with payments, and enhancing efficiency as benefits of a CBDC. The roundtable consultations…

RegulationMay 11

Breaking Down Its 2400% Uptrend And Market Outperformance

Decentralized and open-source computing platform Akash Network has captured significant attention in the cryptocurrency market as its native token, AKT, has outperformed the top 100 cryptocurrencies with a 2400% price increase year-to-date. While Bitcoin (BTC) and other major cryptocurrencies experience price corrections, the Akash Network and its native token are surging at a remarkable pace. To comprehend the driving factors behind this uptrend, it is crucial to delve deeper into what the Akash Network represents and its underlying technology. What Is The Akash Network? The Akash Network, founded in March 2018 by Overclock Labs, emerged as a distributed cloud computing…

AltcoinsMay 11

Binance Co-Founder Yi He Responded to WSJ Claims!

In today's news, WSJ claimed that Binance detected that popular market maker DWF Labs was engaged in market manipulation. Based on the statements of a former Binance employee, WSJ claimed that Binance researchers manipulated the prices of DWF Labs' Yield Guild Game (YGG) token and at least six altcoins in 2023. While DWF Labs X denied WSJ's claims, a Binance spokesperson also denied the news and told Cointelegraph: “Binance categorically denies any allegation that its market surveillance program allows market manipulation on our platform. We have a robust market surveillance framework that detects and takes action against market abuse. Any…

ExchangesMay 11