Sweat users can vote on whether to recover the tokens and transfer them to the protocol’s treasury for a potential future distribution. The vote will also decide what the Sweat Foundation will do with them in the future, including “burning a percentage, funding operational costs, or supporting future product launches,” the blog post said. Source
In the latest episode of The Market Report, analyst and writer Marcel Pechman discusses the impact of the United States Securities and Exchange Commission lawsuit against the Binance exchange. Most likely, the U.S. population will be barred from using the international version of Binance, and those who opt for VPN services will be at risk of being prosecuted. Pechman believes Changpeng “CZ” Zhao and Binance will lose or strike a deal pleading guilty, pay a fine, and be forced to halt services for North American entities — including Paxos and…
EU officials are hoping to tempt crypto innovators as Binance and Coinbase complain of regulation by enforcement in the U.S. Source
At Money20/20 in Amsterdam, a panel titled “CBDC’s: The Next Steps” discussed the potential of central bank digital currencies (CBDCs), decentralized finance (defi), and decentralized autonomous organizations (DAOs). These concepts carry significant implications for the global financial infrastructure and the future of money. The panel participants were Claire Conby, operations and governance lead at Digital Pound Foundation, Susan Friedman, senior director of global policy at Ripple, and Teana Baker Taylor, vice president policy and regulatory strategy at Circle Internet Financial. One of the primary highlights of the discussion revolved around…
Bitcoin (BTC) hitting three-month lows did not spur hodlers to panic sell, on-chain data shows. According to analytics firm Glassnode, BTC investors have largely ignored the latest crypto exchange legal battles. On-chain losses “remain quiet” BTC/USD dipped to just $25,350 on June 6, its lowest since mid-March — but it seems existing holders simply do not care. The latest data covering on-chain transactions shows that in the midst of reactions to the Binance and Coinbase lawsuits, few were in “panic sell” mode. A chart uploaded to Twitter by Glassnode showed…
The same day cryptocurrency exchange Coinbase was served with a lawsuit from the United States Securities and Exchange Commission (SEC), ARK Invest added more stock to its Coinbase holdings. According to investor notification from ARK Invest on June 6, the firm added approximately 419,324 shares of Coinbase Global Inc., which totals to a worth of nearly $21.6 million at the time of closing on the same day. This came as Coinbase stock plummeted more than 20% on June 6, following the ongoing action involving the SEC and the recent lawsuit…
On June 7, cryptocurrency exchange Binance published a statement on its Chinese social channels with the hashtag #StrongTogether. Amid ongoing litigation with the United States Securities and Exchange Commission (SEC), Binance said its wallet addresses are transparent and that the exchange never “siphoned consumers’ funds” nor has “any collateralized borrowings.” Additionally, Binance said it never gave “large donations” to political candidates nor made “large sponsorships” to entertainment and media entities. A translated version of the exchange’s message said: “Our community comes from many different races, ethnicities, and beliefs; we will…
While Binance saw the acquisition of Gopax as a means of re-entering South Korea, it was also meant to be a turning point for the local trading platform. The SEC’s lawsuit against Binance has started affecting the company’s operations, particularly its acquisition of Gopax in South Korea. The US Securities and Exchange Commission filed a case against Binance for violating securities law. According to the filing with the federal court in Washington, Binance mishandled investors and also misled both investors and regulators. The Commission also alleged that the exchange broke the rules…
“Bitcoin has such a marketing problem.” At least, that’s what came to mind for Bitcoin (BTC) advocate and Cointelegraph reporter Joe Hall when he was asked about the weaknesses and strengths of the popular cryptocurrency. While not labeling himself a “Bitcoin maximalist,” Hall believes that most people — including crypto OGs — are shockingly unaware of what Bitcoin can do; and for this reason, he questions the necessity and future of most altcoin projects. “They’re doing it with imperfect solutions that in the long term will rug-pull them or close…
In the past, cryptocurrency mining has depended on the power-hungry Proof-of-Work (PoW) consensus process. Alternative mining techniques, on the other hand, that offer scalability, energy efficiency, and minimal environmental impact, have recently attracted more attention. Proof-of-Stake (PoS) and Proof-of-Authority (PoA) are two well-known alternatives that are gaining popularity. The potential for various mining options to disrupt the bitcoin ecosystem is examined in this article along with their distinctive features. Readers can get comprehension of the advantages and factors of PoS and PoA and learn more about the developing field of…