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.

Crypto Excluded from New South Korean Donations Law

Crypto, “including Bitcoin,” will be excluded from an amended South Korean donations law, government officials announced on May 5. Per Kyunghang Shinmun, the Ministry of the Interior and Safety said it wanted to “expand the scope” of donations – but has decided against allowing citizens to donate crypto. Donations Plans: Crypto Excluded The ministry plans to make amendments to the Enforcement Decree of the Act on Collection and Use of Donations. These amendments will allow citizens to donate a slew of cash alternatives to charitable causes. These include loyalty points from tech giants such as Naver, as well as department…

LegalMay 6

Crypto.com reports 100m users worldwide despite frozen VC activity

Cryptocurrency exchange Crypto.com says it has surpassed the 100 million global user mark since its establishment in 2016. Crypto exchange Crypto.com has registered 100 million users around the globe as the platform doubles down on its international expansion. In a blog announcement on May 6, the company claims the surge in the user base was the result of its marketing campaign, particularly its latest Fortune Favors the Brave brand film. The Singapore-headquartered exchange says its user base has doubled since the first Formula 1 Crypto.com Miami Grand Prix in May 2022. Commenting on the growth, Crypto.com CEO Kris Marszlek said…

ExchangesMay 6

67% Nigerians Trust in Bitcoin for Life Savings than Traditional Methods: Research

Web3 infrastructure company Elastos released a report, shedding light on Bitcoin use in people’s daily lives, irrespective of current valuation. Per the research findings, Nigeria and UAE have topped in the use of Bitcoin for daily transactions, compared to Germany and the UK. Around 20% of respondents from Nigeria use Bitcoin to conduct transactions “at least once a day,” a company statement read. 23% consumers in Nigeria and 20% in the UAE use Bitcoin every day, the release shared with Cryptonews, read. That said, 67% Nigerians would have more trust in Bitcoin to project their life savings than traditional payment…

BitcoinMay 6

QuickSwap Launches on X Layer Mainnet, Boosting Polygon CDK DeFi

QuickSwap Launches on the X Layer Mainnet, marking a significant step forward for decentralized finance in the Polygon CDK network. The integration brings a new Citadel to the dragon DEX, complementing existing Citadel capabilities across the Polygon CDK family. Users can easily swap and provide liquidity on X Layer via QuickSwap, making it the best DeFi experience on the network. QuickSwap is now live on X Layer Mainnet ⚡️ The birth of a new Citadel on the dragon DEX, expanding the Polygon CDK family. Swap and LP on X Layer (farms coming soon) via QuickSwap to experience DeFi on the…

DeFiMay 6

Ethereum Whale Takes Profit, Withdraws 12,906 ETH from Binance After Holding 1 Year

It seems that some big investor, a “whale,” chose to take some action with his Ethereum holdings to take some profits. According to the source, this investor acquired a decent position in Ethereum about a year ago. He decided to withdraw 12,906 ETH from the major cryptocurrency exchange Binance. At the time of the withdrawal, Ethereum was priced at $1,890 per token. The total amount of the withdrawal was about $24.39 million. Now, he is standing at a profit of $16M. A whale who bought $ETH a year ago seems to be selling $ETH to take profits. He withdrew 12,906…

EthereumMay 6

HSBC’s Gold Token Goes Live for Retail Investors in Hong Kong

The tokenized gold product is available via HSBC Online Banking and HSBC HK Mobile App. The HSBC Gold Token is minted on the bank’s Orion digital assets platform. Financial powerhouse HSBC (HSBA) is tokenizing gold for everyday investors in Hong Kong and claiming bragging rights as the first bank to create a blockchain-based real-world asset aimed at the retail marketplace. The HSBC Gold Token, minted on the bank’s Orion digital assets platform, is available via HSBC Online Banking and HSBC HK Mobile App, the bank said in a press release on Wednesday. Banks and financial institutions are bringing a range…

AltcoinsMay 6

Philippines Securities Regulator Set to Unveil Cryptocurrency Guidelines in Second Half

The Philippines’ securities regulator is set to unveil a regulatory framework for crypto assets and trading by the latter half of 2024. SEC Chair Emilio Aquino announced plans last week to issue the framework by the second half this year, Business World Online reported Monday. The upcoming cryptocurrency guidelines target regulating trading within the Philippines, prioritizing investor protection. This announcement aligns with the SEC’s recent efforts to tighten its grip on unregistered platforms. Last month, the SEC actively pursued removing Binance-linked applications from Apple and Google app stores in the Philippines. “The SEC has identified [Binance] and concluded that the…

LegalMay 6

Bybit Web3 Empowers Users with Industry-Leading IDO Refund Policy

Bybit, one of the world’s top three crypto exchanges by volume, today announced an industry-leading Initial DEX Offering (IDO) Refund Policy, prioritizing user protection and fostering a secure and transparent environment for blockchain development, as IDOs have emerged as a popular method for launching new cryptocurrency projects. “In the dynamic world of DeFi, IDOs present exciting opportunities for investors and crypto enthusiasts,” said Emily Bao, Bybit Web3 Evangelist. “However, understanding the associated risks is crucial. The launch of Bybit’s IDO Refund Policy empowers users with an added layer of security, enabling informed participation. This aligns with our vision of creating…

ExchangesMay 6

Pension Consultants are Buying US Spot Bitcoin ETFs: 13F SEC Fillings

New 13F filings with the SEC reveal that a major pension consultant, Global Retirement Partners (GRP), is buying into US spot Bitcoin ETFs. Bitcoin investors have been eagerly awaiting these SEC filings to gauge the level of institutional interest in Bitcoin ETFs, which launched in the first quarter of 2024. JUST IN: 🇺🇸 Retirement consulting firm GRP reveals they now hold exposure to 7 #Bitcoin ETFs in 13F filings Pensions are in play 🚀 pic.twitter.com/3F9A2VTiID — Bitcoin Magazine (@BitcoinMagazine) April 25, 2024 13F SEC filings require large US institutional investors with $100 million or more in assets under management (AUM)…

BitcoinMay 6

Are Whales Giving up on It? Ethereum (ETH)

Recent on-chain data and trading activity show that Ethereum whales are engaging in substantial sell-offs, raising concerns about their long-term confidence in the asset. One notable transaction involved a whale who, after purchasing ETH at $1,890 last year, moved 12,906 ETH ($24.39 million) from Binance to Lido. More recently, this same investor withdrew 7,000 ETH from Lido and redeposited it onto Binance, securing over $16 million in profits amid a fluctuating market. The accompanying charts reveal a decline in the number of large transactions alongside a fluctuating price, suggesting a possible correlation between whale activities and price movements. Specifically, the…

EthereumMay 6