Day: June 6, 2023

Dev shares how ENS plays a role in decentralized social media

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As decentralized social media becomes one of the central topics at the Buidl Asia event held in South Korea, Cointelegraph spoke with Ethereum Name Service (ENS) developer Makoto Inoue onlineto find out more about Web3 social media, its potential to replace Web2 and the roles of ENS and the metaverse in this new social media paradigm.  According to Inoue, Web3 is “inherently social and distributed.” The developer highlighted that since it’s built on top of the blockchain, everything is transparent. This makes the blockchain a “social graph,” a graph commonly…

InQubeta and solana poised for growth in 2023

The crypto market has experienced significant advancements this year, with various coins demonstrating substantial price growth. Ahead of the next bull run, exploring potential investment opportunities in crypto can prove lucrative. Notably, InQubeta (QUBE) and solana (SOL) have garnered attention from experts due to their distinctive solutions to real-world challenges. The confidence exhibited by investors in these coins can further emphasizes their strong growth potential. As InQubeta progresses through its presale stages, investors are evaluating the project as a potential opportunity. In a fundraising landscape that has proven challenging for…

Crypto industry debates ‘Tai Chi’ vs. ‘Operation Chokepoint 2.0’

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The United States Securities and Exchange Commission (SEC) has filed charges against Binance, its U.S.-based exchange entity and its CEO, Changpeng “CZ” Zhao, for violating securities laws.  On June 5, the SEC filed 13 charges against Binance in the U.S. District Court for the District of Columbia over allegations that the company misled investors and misused customer funds. The accusations of mishandling customers’ funds and violations of U.S. banking regulations were first flagged in a report published by Reuters in the last week of May. At the time, Binance had refuted…

Bitcoin (BTC) and Broader Crypto Market Come Crashing Down Following SEC Lawsuit on Binance

After SEC’s action on Binance, Bitcoin and the broader crypto market tanked instantly. Altcoins face heavy correction to the tune of 7-8% with Binance BNB suffering the most. The filing of the lawsuit by the US SEC against crypto giant Binance sent shockwaves across the entire cryptocurrency market on Monday, June 5. Over the last 24 hours, Bitcoin (BTC) and the broader cryptocurrency market have corrected by over 4%. As of press time, the Bitcoin (BTC) price is down by 4% and is currently trading at $25,778 with its market…

Crypto Hedge Fund Arca to Lay Off 30% of Its Staff

The company cited the challenging environment as a reason behind its headcount cut. Amid crypto winter and uncertain market conditions, companies continue to employ cost-cutting measures that often include layoffs. Digital asset management firm Arca is one the latest on the list of those currently in the middle of staff downsizing. Arca has reduced its headcount by as much as 30% (currently, it has only 66 employees in total), explaining the decision to lay off a third of its staff in a challenging environment. Arca representative stated: “Growth has been…

Pepe price tumbles 16% amid Binance regulatory saga

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Meme coin pepe sees tremendous losses in price valuation ahead of the ongoing wrangle between Binance and the SEC that has provoked FUD and investor panic. Pepe has seen a 16% drop in price valuation within 24 hours, trading at $0.000001. The meme coin’s market cap stood at $396.3 million. Trading volume stood at $190.8 million during press time. PEPE price drop | Source: CoinMarketCap Large pepe holders selling for losses Recent sales of large sums…

Apple Unveils Series of New Products at Its WWDC, Here Is What Was Presented

This year’s product revelation at the WWDC is proof that the company is committed to continue beating the standard.  American multinational technology giant Apple Inc (NASDAQ: AAPL) has unveiled a whole new set of products as it seeks to deepen its rank as one of the most innovative consumer device manufacturers in the tech world. The firm did not disappoint its customers with what it revealed at the Worldwide Developers Conference (WWDC) where it unveiled the most intriguing product, the Vision Pro Augmented Reality (AR) headset. The company also introduced…

SEC Accuses Binance of Commingling User Funds and Other Malpractices, Designates MATIC, SOL, Others as Securities

According to the SEC in a recent lawsuit, Binance deliberately broke several rules and secretly funneled customer funds via a separate entity. The US Securities and Exchange Commission (SEC) has slammed Binance with a lawsuit for varying malpractices. In addition to accusing Binance of mishandling customers’ funds, the commission’s lawsuit also fires at several altcoins, including Polygon (MATIC) and Solana (SOL). The SEC’s lawsuit hit Binance and its CEO Changpeng “CZ” Zhao with 13 civil charges. According to the suit, Binance has not properly restricted US customers from its Binance.com platform, stating that the…

AI could threaten humanity in 2 years, warns UK AI task force advisor

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The AI task force advisor to the prime minister in the United Kingdom said humans have roughly two years to control and regulate artificial intelligence (AI) before it becomes too powerful. In an interview with a local UK media outlet Matt Clifford, who also serves as the chair of the government’s Advanced Research and Invention Agency (ARIA), stressed that current systems are getting “more and more capable at an ever-increasing rate.” He continued to say that if officials don’t start considering safety and regulations now, in two years’ time the…

Launch of ChatGPT Significantly Enhanced AI-Related Crypto Assets YTD

The German researchers found out that AI-related crypto assets jumped as much as 35 percent after the launch of ChatGPT. The recent Artificial Intelligence (AI) boom has propelled related companies to huge profits in the past few quarters. Already, Nvidia Corporation (NASDAQ: NVDA) has seen its stock market rally more than 168 percent YTD to reach a valuation of about $1 trillion. However, it is AI-related crypto that has experienced significant volatility in the recent past due to the underlying speculative nature of digital assets. Already, top artificial intelligence and…