Day: July 2, 2023

Binance conducts 11th LUNC burn, 2.65 billion tokens destroyed

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Binance, the world’s largest crypto exchange, has burned 2.65 billion Terra Classic (LUNC) tokens in its 11th burn round. The total LUNC tokens burned by Binance now exceed 35.5 billion, with the community’s burn surpassing 68 billion. Traders have reacted positively to the burn, with LUNC seeing a 3% price increase. Based on a transaction executed on July 1, Binance transferred 2.65 billion LUNC tokens to the burn address, reducing the circulating supply. The transaction also involved a transaction fee of 13.25 million LUNC. The Terra Classic burn mechanism automatically…

Filecoin onchain metrics falling, ChatGPT recommends diversifying with Tradecurve’s TCRV

The United States Securities and Exchange Commission’s (SEC) recent classification of FIL as a security has raised doubts about its future. This has resulted in a drop in the value of FIL, Filecoin’s native currency, impacting its daily trading volume.  Furthermore, Filecoin’s on-chain metrics point to weakness and could force FIL to new 2023 lows.  ChatGPT recommends that investors consider diversifying with other projects like Tradecurve. After gains in June, the project’s presale is progressing successfully. >>Register for the Tradecurve presale<<  Can FIL recover as a security? The growing significance…

Vitalik Buterin declares he is not staking all of his ETH, merely a ‘small portion’

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Ethereum co-founder Vitalik Buterin stated that he does not stake all of his Ethereum (ETH) due to multisignature (multisig) wallets being “complicated in a bunch of ways.” On the 29 June episode of the Bankless Podcast, titled Restaking Alignment, Buterin revealed the “biggest reason” why he is only staking a small fraction of his Ethereum, as opposed to staking the entirety of it. He explained: “Because if you stake your ETH, the keys that access it have to be public on a subsystem that is online. For safety, it has…

Bittrex challenges SEC’s authority in crypto lawsuit, seeks dismissal

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Bittrex, a cryptocurrency exchange, has made a notable move in its legal dispute with the United States Securities and Exchange Commission (SEC) by submitting a motion to dismiss the lawsuit filed against it. In its recent court filing, Bittrex argues that the SEC does not possess the necessary authority to regulate cryptocurrencies as securities unless explicitly granted by Congress. This assertion challenges the SEC’s interpretation of existing securities regulations and seeks to establish a more defined regulatory framework that accommodates the distinct characteristics of digital assets. In its motion to…

Hong Kong establishes task force to advance Web3 development

As part of Hong Kong’s ongoing commitment to embrace the “megatrend” of Web3 development, it has established a diverse group of industry and government officials to supervise the progress of Web3 in the region. According to a June 30 statement, the government of Hong Kong has formed a task force comprising 15 industry participants and 11 key government officials to oversee the development of Web3, with a particular focus on promoting its growth in an ethical manner. It stated: “The Financial Secretary has announced in the 2023-24 Budget the establishment…