Author: NBTC

China’s state-run media has once more cautioned investors against crypto investments as Bitcoin reached a two-year peak on Monday, near the $64,000 mark. State-owned newspaper Economic Daily pointed out on Sunday that Bitcoin’s price rebound doesn’t mask the underlying risks associated with the digital asset. “Investors should remain cautious about the risks associated with Bitcoin and products whose value is tied to cryptocurrencies,” it said. The newspaper cited Beijing-based lawyer Xiao Sa, who noted the recent approval of Bitcoin Spot ETFs in the US. This approval has reduced the entry barrier for overseas investors and boosted market trading activity, he…

Ethereum Virtual Machine (EVM) Layer 2 firm Morph, announced it has raised $19 million in a seed funding led by investment firm DragonFly Capital. Other participants in the $19 million funding round included Pantera Capital, Foresight Ventures, Spartan Group, MEXC Ventures, Symbolic Capital, Public Works, MH Ventures, and Everyrealm, — an additional $1 million was raised in an angel round. The funding will be used to acquire talent, enhancing developer incentives, expanding marketing efforts and to improve the Morph’s visibility within the Layer 2 ecosystem and refining its technical infrastructure, said the firm. Morph to “Revolutionize” Blockchain Tech is Used…

The British Virgin Islands (BVI) is aiming to become a major hub for digital asset activities. To achieve this, the territory is working to execute rules and systems that would enable participation in the expanding digital asset market. Lorna Smith, Minister for Financial Services, Labour and Trade, recently said that the BVI is well-positioned to be a significant player in the worldwide digital asset market. She emphasized the need for a strong set of rules to manage this field, and highlighted the importance of balancing innovation with compliance of legal standards, local outlet BVI News reported Tuesday. She added that…

It is another proud moment for TOKI, and they have made cross chain swapping of Japanese Stablecoin via IBC a crystal clear reality. TOKI’s IBC-backed technology has again shot into the limelight by conceptualizing BNB and Ethereum chain transfers on a public testnet. It may mark the adoption of the protocol by financial organizations based in Japan, beginning with cross chain transfers of stablecoins. This development can be viewed as a small beginning to a huge step that will revitalize crypto space. Progmat and TOKI have successfully collaborated to build a cross-chain infrastructure for issuing Japanese stablecoins. This cross-chain architecture…

With 7.6% of Michael Saylor, leader of MicroStrategy, under its control, Vanguard Group Inc indirectly holds $1.2 billion in Bitcoin, revealing an unexpected impact in the sector. Let’s see below all the details. Vanguard’s indirect control over Bitcoin through MicroStrategy Bill Miller IV and Michael Saylor optimistic about Bitcoin and MicroStrategy Vanguard’s CEO, Tim Buckley, to retire by 2024 Vanguard’s indirect control over Bitcoin through MicroStrategy As anticipated, in the crypto and Bitcoin world, the influence of Vanguard Group Inc is becoming increasingly important. With a 7.6% stake in Michael Saylor, the CEO of MicroStrategy, Vanguard indirectly controls 193,000 Bitcoins,…

Hong Kong’s central bank cautioned the public Wednesday about schemes falsely claiming association with its e-HKD pilot projects. The warning comes as Hong Kong explores the potential of a central bank digital currency through various trial projects. The public appears to have been exposed to certain organizations claiming to be part of the program. These entities supposedly promoted products to lure investments, posing as selected participants in the digital currency trial. e-HKD Pilot Participants Include Alipay, HSBC For guidance, the Hong Kong Monetary Authority (HKMA) released a list of official participants in the pilot program. These include Alipay Financial Services,…

With only three weeks remaining until the general election, South Korea’s rival political parties are vying for support from crypto investors, who have emerged as a key voting group. According to local media outlet JoongAng Daily, the parties recognize the significance of addressing cryptocurrency-related policies amid the surging popularity of this nascent industry. Notably, South Korea is also seeing a rise in numbers from crypto investor voting groups. Bitcoin’s price surge has captured public attention, with the cryptocurrency trading at 92.1 million won ($68,654) on Upbit, the country’s largest cryptocurrency exchange. Although the price has dipped from its recent peak…

Quant analyst PlanB says that Bitcoin (BTC) has now entered the stage of its market cycle where extreme price pumps and volatility are commonplace. In a new strategy session, PlanB shares a chart with his 118,000 YouTube subscribers that attempts to indicate the four phases of Bitcoin’s market cycles: the accumulation phase, the bull market, the distribution and the bear market. According to PlanB, who is also the creator of the controversial stock-to-flow (S2F) model, Bitcoin has just entered the bull market, which will bring “face-melting FOMO (fear of missing out)” and massive rallies – as well as 30% dips.…

CBRT announced its interest rate decision for March 2024. The CBRT Monetary Policy Committee increased interest rates by 500 basis points to 50% in March. The expectation was that the policy rate would be kept constant at 45% in March. CBRT did not make any increase in line with expectations in February and kept it constant at 45%. What Was the Dollar’s Reaction to the Interest Rate Decision? As you may remember, in previous meetings it was stated that the low interest policy would be abandoned and interest rates would be increased. At this point, while the CBRT continues to…

The United Kingdom can learn from what other countries have gotten right — and wrong — with digital asset regulation, policymakers said Wednesday. “We have such an opportunity in the UK because we’ve seen what’s happening in the [European Union]…and indeed to a large extent what isn’t happening in the United States,” Lord Chris Holmes, member of the UK House of Lords, said Wednesday. Lord Holmes appeared alongside Dr. Lisa Cameron, Member of UK Parliament, during a panel discussion at the Blockworks Digital Asset Summit in London. The two agreed that establishing clear, effective innovation quickly is essential. Read from…