Day: June 12, 2023

‘Near impossible to know’ what is and isn’t a security: Mark Cuban on SEC

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Billionaire investor Mark Cuban has become one of the latest industry figures to call out the United States securities regulator for purportedly failing to provide cryptocurrency firms with a clear registration process. The Shark Tank investor claimed in a June 11 Twitter post that no registration exists in the SEC’s “Framework for “Investment Contract” Analysis of Digital Assets” document, making it “near impossible to know” what constitutes a security in the “crypto universe.” “Unfortunately none of the elements presented in this page are part of the registration process. Which makes…

ALGO, FLOW rebound from all-time lows, others rebuff SEC securities label

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The United States securities regulator designated a slate of cryptocurrencies as securities in recent lawsuits including Algorand (ALGO) and Flow (FLOW) which hit all-time price lows following the declaration. On June 10, ALGO and FLOW hit their respective historic lows of $0.098 and $0.46, having dropped around 30% in the past seven days according to CoinGecko data. Both have slightly rebounded since, with ALGO up over 12.5% and FLOW recovering just over 10.5% since June 10. ALGO’s seven-day price chart shows a drop to its all-time low with a slight…

Blockchain-Based, AI Compute Protocol Gensyn Closes $43M Series A Funding Round Led by a16z Crypto

With its latest round, Gensyn has raised more than $50 million and the company said it would use the fresh capital to accelerate the introduction of the protocol and to expand its workforce, including the addition of protocol and machine learning engineers. Prominent investment firms CoinFund, Canonical Crypto, Protocol Labs, Eden Block and a variety of AI and crypto venture capitalists and angels joined a16z in the round. Source