Day: June 6, 2023

Binance launches bitcoin NFTs amidst SEC lawsuit

boss

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Binance has added bitcoin non-fungible tokens (NFTs) to its marketplace only one day after the U.S. Securities and Exchange Commission (SEC) filed a complaint against the business. In addition to BTC DeGods, Bitcoin Bandits, Bitcoin Frogs, Bitcoin Pizzas, and Bitcoin Punks, this cryptocurrency exchange’s NFT marketplace will now feature over 25 collections of bitcoin NFTs. The bitcoin community and the cryptocurrency industry are now fixated on NFTs related to bitcoin because of their sudden prominence as…

How To Use AI to Create Music in Web3

If your music project is less about live performance and more about the finished product — maybe you’re composing original music for a podcast, metaverse event, YouTube channel, Web3 video game or educational content — you can use AI to speed up the process of composition and arrangement. Of course, the world’s most talented virtuosos can likely do musical scales in their sleep, but with so many elements to sound and video production, it’s becoming standard practice to use AI to insert quick scales, arpeggios, runs and harmonies to original…

Sequoia Capital announces three-way split to separate China business

boss

Venture capital firm Sequoia announced an impending split that will see the company break into three distinct partnerships serving the United States, China, and Asian markets separately.  The move, announced on June 6, is intended to decentralize back office functions for the company. Citing increased global financial complexity and a growing brand confusion, per a post on Twitter, Sequoia said it intends to embrace its “local-first approach.” Here is the global business update we shared with our LPs. pic.twitter.com/lGHIw1tVE5 — Sequoia Capital (@sequoia) June 6, 2023 The change will see…

Bitcoin price bounces past $26K as Coinbase news fails to shake bulls

boss

Bitcoin (BTC) recovered some of its lost ground after the June 6 Wall Street open despite new legal action from United States regulators. BTC/USD 1-day candle chart on Bitstamp. Source: TradingView Analyst sees Coinbase news marking BTC price low Data from Cointelegraph Markets Pro and TradingView tracked an ongoing rebound for BTC/USD, which reached $26,250 on Bitstamp. The pair had dipped to nearly three-month lows of $25,350 earlier in the day amid news that the U.S. Securities and Exchange Commission was suing exchange Coinbase. An accompanying press release referred to acting…

Are Centralized Exchanges in the U.S. Doomed?

But, by filing suit, the SEC and CFTC do have a remarkable ability to signal what type of businesses or practices are less-than-desired in a functioning economy. And by going after the two biggest fish in crypto, it’s becoming clear that all exchanges are at risk. Scratch any financial firm and you’ll find it bleeds financial infractions, especially in an industry as rough-and-tumble as crypto. Source

Louis Vuitton To Launch Via Treasure Trunks NFTs

The new collection of “a few hundred” digital trunks will open for registration on June 8 to consumers based in the U.S., Canada, France, the U.K., Germany, Japan and Australia. Select customers can then purchase the NFTs on June 16 for €39,000, or about $42,000. As part of the token’s utility roadmap, holders will receive a physical replica of their digital Treasure Trunk, which will also unlock access to upcoming Louis Vuitton products and immersive events. According to a press release, the brand plans to release limited products and experiences…

US SEC Indicts Coinbase over Unregistered Exchange and Broker Platform

The new lawsuit against Coinbase is coming only a few hours after the SEC sued Binance for violation of the same US securities rules. American publicly listed crypto trading platform Coinbase Global Inc (NASDAQ: COIN) has come under the radar of the United States Securities and Exchange Commission (SEC) once again. This time around, Coinbase was indicted in a New York Federal Court earlier today for operating as an unregistered national securities exchange and broker according to the regulator. The lawsuit stated that Coinbase has been operating in this manner…

How to Build a Compliant Crypto Exchange After The SEC’s Coinbase Suit

boss

I am not going to bore you by quoting chapter and verse on broker-dealer registration requirements. I also won’t go into a detailed Howey analysis on many of the coins mentioned in the complaint – including Solana, ADA, Matic, Filecoin, SAND, AXS, CHZ, FLOW, ICP, NEAR, VGX, DASH, and NEXO. The important thing here is that the SEC is seeking, as a remedy, a permanent injunction against Coinbase from operating an unlicensed exchange. If they can get one of the tokens to stick and win at trial, they may be…