Day: June 14, 2023

Puma launches metaverse experience: Nifty Newsletter, June 7–13

boss

In this week’s newsletter, read about footwear giant Puma’s new metaverse experience for Puma Pass nonfungible token (NFT) holders. Check out Meta CEO Mark Zuckerberg’s comments on the new Apple Vision Pro headset, and how NFT platform Enjin has launched a new blockchain. In other news, GameStop terminated the executive responsible for its NFT push, and don’t forget this week’s Nifty News, featuring Kraken’s NFT marketplace and Coinbase’s Stand With Crypto NFTs. Footwear conglomerate Puma launches 3D Web3 experience Footwear company Puma has launched a 3D metaverse experience called Black…

Why is the BNB price up today?

boss

The price of BNB was up over 3% on June 14, in part due to bearish traders opening more BNB-tied contracts despite suffering losses via liquidations in the previous 24 hours. In addition, BNB (BNB) stands extremely “oversold,” which may have prompted traders to buy the dip. BNB price bounces after being “oversold”  On June 14, the BNB price climbed nearly 4% to $253. The gains came as part of a recovery that saw the price rebounding 12% two days after falling to a six-month low of $220. From a technical…

European Union AI Act passes in parliament

boss

The European Parliament has passed the EU AI Act, a sweeping legislative framework for governance and oversight of artificial intelligence technologies in the European Union. EU AI act: first regulation on artificial intelligenceThe use of artificial intelligence in the EU will be regulated by the AI Act, the world’s first comprehensive AI law. Find out how it will protect you ⬇️https://t.co/CQqAi7S8lR pic.twitter.com/GzVfIne7tH — Europarl UK (@EPinUK) June 14, 2023 The measure passed in Parliament during a June 14 vote that saw majority support for the act in the form of…

MetaMask Developer ConsenSys Challenges SEC’s Proposed ‘Exchange’ Definition, Citing Blockchain Misunderstandings

Blockchain tech company ConsenSys, represented by lawyer Bill Hughes, has formally objected to the Securities and Exchange Commission’s (SEC) Notice of Proposed Rulemaking (NPRM) concerning the redefinition of a securities “exchange”. Hughes voiced these objections in a series of tweets today. ConsenSys contends that the amendments proposed by the SEC would be unlawful if finalized in their current form, as they are intended to apply to blockchain protocols. They allege that the reopening release fails to rectify key legal deficiencies in the proposed amendments, misinterprets the term “exchange” as per…

Bitcoin Price (BTC) Little-Changed After Fed’s FOMC Leaves Policy on Hold

boss

Looking to tame inflation, which then was running at an annual pace of more than 8%, the Fed began tightening monetary policy in March 2022, eventually hiking rates for 10 consecutive meetings and bringing the fed funds rate from 0-0.25% to the current 5.0-5.25%. Inflation has been gradually slowing over the past year, with Tuesday’s Consumer Price Index (CPI) report showing the rate falling to 4% in May, the slowest in two years. Though that pace remains above the central bank’s 2% target, the Fed has reminded that monetary policy…

South Korean Bitcoin lending platform Delio pauses withdrawals

boss

Delio, a virtual asset manager and lending platform based in South Korea, has announced the temporary suspension of customer withdrawals “in order to safely protect the assets of customers currently in custody.” The company made the decision in response to the recent suspension of digital asset deposits and withdrawals at Haru Invest, which has led to heightened market volatility and increased confusion among investors within the region. According to Delio, the suspension will remain in effect until “the situation and its aftermath are resolved.” A translation of the announcement read: “In…

Price analysis 6/14: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, MATIC, LTC, DOT

The entire crypto market awaits the result of todays Federal Reserve presser, and traders are hopeful that positive news will trigger a price breakout to the upside. The United States equities markets rose after the consumer price index print on June 13 came in below expectations but Bitcoin (BTC) and the altcoins failed to recover. This suggests that cryptocurrency traders are focused on crypto-specific issues and are not buying on favorable macroeconomic news.  However, there is a ray of hope for the bulls because Bitcoin is still holding above the…

Binance applies to deregister in Cyprus, says focus is on ‘larger markets’

boss

Binance appears to be preparing to exit Cyprus. The Cyprus Securities and Exchange Commission has marked Binance Cyprus Limited as “Under examination for application for deregistration” on its website.  Previously, the cryptocurrency exchange received Class 3 registration as a Crypto Asset Services Provider (CASP) in Cyprus in October. At that time, Binance called the registration “another milestone in Binance’s regulatory efforts in Europe and follows similar registrations for Binance’s local entities in France, Italy and Spain.” Class 3 is the highest level of service provision in the island nation and…

5 key highlights of the SEC’s lawsuit against Binance

boss

The U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Binance on June 5, alleging that the exchange was involved in the sale of unregistered securities. In its 136-page complaint, the SEC accuses Binance and its founder, Changpeng “CZ” Zhao, of participating in a complex conspiracy that involved fraud, conflicts of interest, a lack of disclosure and willful disregard for the law.  The claims, according to SEC Chair Gary Gensler, center on deceiving investors about risk controls, tampering with trade volumes, hiding crucial operational data, and flouting U.S. securities…