Emin Gün Sirer, the CEO of Ava Labs, has called on US officials to support responsible blockchain innovation and to avoid potentially disastrous consequences if they fail to do so. He will testify to the US House Financial Services Committee on June 13, including Chair Patrick McHenry, Ranking Member Maxine Waters and other members of
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Mark Cuban, an American businessman, philanthropist, and television personality, has criticized the United States Securities and Exchange Commission (SEC) for providing misleading guidance on which digital currencies could be categorized as securities. The SEC has received criticism for its unfriendly attitude towards the cryptocurrency industry, having recently filed lawsuits against two of the largest exchanges
JP Morgan has agreed to pay $290 million to settle a class-action lawsuit with the victims of Jeffrey Epstein, a former financier and convicted sex offender. The plaintiffs accused JP Morgan of laundering money, enabling sex trafficking, and aiding Epstein while he was still a client of the bank. The largest bank in the United
Circle CEO, Jeremy Allaire, has announced that he will be giving testimony to Congress on June 13th regarding the draft stablecoin regulation. Allaire claims that the stablecoin bill is a crucial piece of legislation that should act as the first step in creating a regulatory framework that supports a vibrant and safe digital assets market.
Thirdweb, a San Francisco-based start-up that provides a comprehensive Web3 infrastructure toolkit, has hired Atif Khan as their new Vice President of Gaming. The company aims to streamline the process of Web3 game development and has recently built an on-chain survival action game named Web3 Warriors to demonstrate the effectiveness of their toolkit. Thirdweb raised
The use of non-fungible tokens (NFTs) has been a topic of ongoing discussion in the popular game Minecraft. In July 2022, Mojang, the Microsoft-owned developer of Minecraft, announced its intention to ban the use of NFTs on player-run servers. However, the implementation of the ban has yet to take effect. Despite the delay, Mojang remains
Artificial intelligence (AI) has been increasingly adopted in recent years, with AI-based chatbots, such as OpenAI’s ChatGPT, gaining popularity. The cryptocurrency industry has also been impacted by AI, with a number of AI-related cryptocurrencies experiencing a surge in value at the beginning of 2023. Now, a gamified version of the Turing Test is revealing fascinating
The cryptocurrency industry is currently facing regulatory challenges, and lawmakers in the United States and United Kingdom are set to bring the discussion into the public sphere. On June 13, both nations will host high-profile hearings, marking a pivotal moment in the ongoing debate over digital asset regulation. The UK Parliament will debate the findings
According to recently published data from CryptoCompare, Bitcoin (BTC) is currently trading at a premium of more than 1% on Binance.US. This is despite the fact that the exchange’s USD trading volume has dropped to new lows following the U.S. Securities and Exchange Commission’s (SEC) lawsuit against the company. BTC is currently trading above $26,000
The XRP price has been on a solid upward trend, but it recently reached a significant resistance region at $0.55. This resulted in a surge of volatility in the past few days, leading to a rejection toward the 100-day moving average and the channel’s middle trendline. Currently, the XRP price is consolidating without providing any
A study conducted by Nokia and EY, titled “The Metaverse at Work,” has explored the benefits that companies have observed through utilizing industrial metaverse technologies. The study sourced opinions from 860 representatives across four industry sectors in six countries. The Metaverse is Here to Stay The study indicates that the Metaverse is not just a
The United States is losing its share of the cryptocurrency market due to unclear regulations in the industry. According to a CryptoQuant research report, over half of the bitcoin (BTC) held by crypto firms for their clients has moved to offshore and international exchanges. BTC reserves on US-based crypto exchanges have fallen to 2017 levels,
Cameron Winklevoss, co-founder of Gemini, a crypto exchange, has warned that the regulatory crackdown on cryptocurrencies in the US could alienate an entire generation of would-be Democrats. According to a CNN analysis, the Democratic party would have lost the 2022 Presidential election without the support of young voters. Therefore, the party needs to secure the
Bitcoin experienced a significant drop yesterday, losing almost a thousand dollars before continuing to experience volatility throughout the day. Although alternative coins also experienced drops, they were much more modest than bitcoin’s. However, many alternative coins plummeted by double digits. The past 24 hours have seen some recovery, with many coins, including ADA, SOL, and
Mining is an essential component of many networks, particularly Bitcoin, as it involves verifying transactions and packing them into blocks to be sent to the blockchain. It is crucial to the concept of cryptocurrency, but it is also very technical. It requires complex hardware and software setups, sufficient electrical supply, and a dedicated storage space
Reginald Fowler, a 64-year-old entrepreneur from Arizona and former co-owner of the professional American football team Minnesota Vikings, has been sentenced to 75 months in prison. This comes after a joint investigation by the FBI’s Money Laundering Squad and Internal Revenue Service-Criminal Investigations. Fowler has also been ordered by the court to pay a forfeiture
X2Y2 is a decentralized NFT marketplace that offers advanced features like bulk listing and batch buying. It is quickly becoming one of the top 5 NFT marketplaces in terms of sales volume, unique users, and sales count. The platform also serves as an NFT Fi platform, allowing users to borrow ETH from lenders using their
According to a study conducted by the Toronto Metropolitan University (TMU), approximately 35% of Canadians who own digital assets have become victims of crypto fraud. The research analyzed data from a survey of 2,000 Canadian residents and found that fraudulent schemes related to cryptocurrencies are a significant issue in the country. The study also revealed
The cryptocurrency market has experienced a significant drop in the past 24 hours, and some altcoins have performed worse than others. Several of the worst-performing cryptocurrencies were named in the lawsuit that the US Securities and Exchange Commission filed against Coinbase. The SEC alleges that these altcoins are securities, including Cardano’s ADA, Solana’s SOL, NEAR,
Bitcoin (BTC) fell to three-month lows on June 10 due to regulatory pressure in the United States, which also affected altcoins. According to data from Cointelegraph Markets Pro and TradingView, BTC/USD dropped to $25,483 on the day, a decrease of more than $1,200 from the previous day’s high. Although Bitcoin was showing weakness, it was
Vitalik Buterin, the co-founder of Ethereum, has pledged $100 million for Covid relief. This donation is in addition to the $90 million that was donated last year through the Crypto Relief project. The Donation Buterin, along with Polygon’s Sandeep Nailwal, jointly decided that there were high-impact projects that needed follow-through grants. Therefore, they decided to
Finblox, a crypto super-app, has partnered with major NFT communities, crypto content creators, and celebrities in Southeast Asia to release Bloxies. This is a PFP NFT collection comprising 10,000 unique AI robots on the blockchain that offers more than just a collection of NFTs. Bloxies as a Digital Identity Initially, Bloxies will serve as a
The altcoin market is currently experiencing a significant drop in value, with major cryptocurrencies such as Solana (SOL), Polygon (MATIC), and Cardano (ADA) being heavily impacted. The heatmap below illustrates the current state of the market, with investors appearing to lack confidence during this time. While the reasons for this are not entirely clear, recent
In a recent interaction, Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), has made it clear that digital assets are securities. He asserted that they should be registered with the agency before being offered to investors or meet the requirements to seek exemptions. He also added that exchanges that list cryptocurrencies
Jay Clayton, the former chair of the US Securities and Exchange Commission (SEC), has commented on the regulatory agency’s current treatment of cryptocurrencies. Speaking at Bloomberg Invest on June 8, Clayton was asked whether he would have taken the same actions as current SEC chair Gary Gensler, who recently filed charges against Binance and Coinbase.
After more than a decade, the Department of Justice (DOJ) has finally charged the hackers who stole hundreds of thousands of Bitcoins from the now-defunct cryptocurrency exchange giant, Mt. Gox. The primary culprits behind the heist have been identified as Russian nationals, Alexey Bilyuchenko (43) and Aleksandr Verner (29). The DOJ stated in a press
Ethereum co-founder Vitalik Buterin, along with India-based crypto fund Crypto Relief and Polygon co-founder Sandeep Nailwal, have pledged $100 million towards COVID-19 research and medical infrastructure development in India. The collaboration aims to tackle the ongoing COVID-19 pandemic and prepare for future pandemics. The Donation The donation will be split between the three parties involved,