Day: June 14, 2023

Altcoins gain traction while bitcoin’s social trend falls

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied As bitcoin (BTC) started to fall from the crucial $26,000 mark, the social volume and sentiment toward altcoins have risen tremendously, according to data provided by the market intelligence platform Santiment. While the prices of some of the major altcoins — ethereum (ETH), binance coin (BNB) and XRP, for example — have witnessed notable drops over the past 24 hours, Santiment’s data shows that their social volume has risen. Moreover, bitcoin saw a tremendous social rise…

AI startup by ex-Meta and Google researchers raises $113M in seed funding

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A brand new artificial intelligence (AI) startup dedicated to rival ChatGPT creator, OpenAI, raised $113 million in seed funding, bringing up its valuation to $260 million within two months of inception. Former AI researchers — previously working for Google DeepMind and Meta — co-founded Mistral AI, in May 2023 to develop open-source generative AI models. Arthur Mensch, the co-founder and CEO of the company said that the first round of funding “will give us the resources and network we need to start rolling out a new model of generative artificial…

Polygon Labs Critiques SEC Proposed Rulemaking That Threatens Permissionless Blockchain Networks

Polygon Labs, the leading blockchain technology firm, issued a response today to a proposed rule from the Securities and Exchange Commission (SEC) that redefines the term “exchange.” The company argues that the proposed rule could pose a severe risk to the existence of permissionless blockchain networks and decentralized finance (DeFi) protocols within the United States. The SEC’s reopening release suggests that not only DeFi software protocols enabling specific transactions on a permissionless, distributed ledger would have to register as a national securities exchange (NSE) or an alternative trading system (ATS),…

Expert says US may hit Binance with criminal indictment

John Reed Stark, president of John Reed Stark Consulting and a former SEC Enforcement Division member, speculates on the likelihood of a criminal indictment being filed against Binance. Stark cites evidence that led to a sealed indictment against Binance for fraud, obstruction of justice, and possible money laundering being filed by the U.S. Department of Justice (DOJ). Stark stresses that the CFTC and SEC charges are similar to indictments alleging illegal behavior such as fraud, deceit, obstruction of justice, and even possible money laundering. Why US DOJ Will File, Or…

Crypto industry ‘destined’ to be BTC-focused due to regulators: Michael Saylor

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Enforcement actions on cryptocurrency firms by regulators in the United States could result in a Bitcoin (BTC)-focused industry that will push its price over $250,000, according to MicroStrategy co-founder Michael Saylor. In a June 13 Bloomberg interview, the Bitcoin bull explained recent enforcement actions from the Securities and Exchange Commission (SEC) will eventually play in Bitcoin’s favor — the only crypto excluded from being a security by SEC chair Gary Gensler. Saylor added U.S. regulators “don’t see a legitimate path forward for cryptocurrencies” adding “they don’t have any love” for…

Polygon Labs planning Polygon 2.0 launch

Polygon Labs has announced the impending launch of Polygon 2.0, a network upgrade it describes as a blueprint for building the “value layer of the internet.” According to the group, Polygon 2.0 will bring infinite scalability and unified liquidity to the Ethereum ecosystem, allowing anyone to seamlessly create, exchange, and program value. Polygon launching Polygon 2.0  Polygon, an Ethereum layer-2 scaling solution, has shed light on its upcoming Polygon 2.0 launch. The team says the Polygon 2.0 upgrade aims to radically revamp all aspects of the network, including its tokenomics.…