Tokens such as SingularityNET (AGIX) rose more than 6% while Fetch.ai (FET) climbed about 3% after the announcement of the new company with a goal to “understand the true nature of the universe.” The team will be led by Musk and includes members that have previously worked at DeepMind, OpenAI, Google Research, Microsoft Research, Tesla, and the University of Toronto, according to the company website. Source
Bitcoin (BTC) mining difficulty reached an all-time high of 53.91 trillion units after the latest difficulty adjustment on July 12. It is a measure of how difficult it is to mine Bitcoin blocks. The blockchain adjusts its difficulty every two weeks to maintain its processing time of 10 minutes. When the network’s processing power increases, it adjusts to make mining challenging, reducing the profitability for individual miners. The latest adjustment will add to the pressure on miners who have been selling off their mined BTC since June. Some analysts suspect…
“This order resolves yet another action against an individual and digital asset exchange illegally offering futures contracts to U.S. customers,” said Ian McGinley, the CFTC’s enforcement director, in a statement. He noted the court also found that Todd had “attempted to manipulate Digitex’s native utility token, DGTX, by allegedly ‘pumping’ the token’s price through the use of a computerized bot.” Source
On the former point, Coinbase is not the largest spot bitcoin exchange. It currently sees somewhere around 2.5% of global daily trading volume, according to BTC/USD trading pair data from CoinGecko and CoinMarketCap. You can quibble about the details, bitcoin trading exchange volumes could also include trading pairs between many currencies, crypto or otherwise. Original
The United States-based crypto advocacy group Blockchain Association has submitted a letter to the Securities and Exchange Commission’s (SEC) Office of Inspector General calling for an investigation into crypto firm Prometheum. In a July 12 letter, the Blockchain Association requested SEC inspector general Deborah Jeffrey look into the Financial Industry Regulatory Authority’s approval of Prometheum’s special purpose broker-dealer license (SPBD). The group also raised concerns about the means by which co-CEO Aaron Kaplan secured a seat testifying before the U.S. House Financial Services Committee in June. The advocacy group said the…
The post by Mills stressed the importance of user trust, noting “while tokenized assets are meant to build more enriched, immersive experiences, as an added user protection, developers may not promote or glamorize any potential earning from playing or trading activities.” This maintains Google Plays’ Real-Money Gambling, Games, and Contests policy. In effect, this means apps that haven’t met gambling eligibility requirements can’t promote buying an in-game item like a “loot box” for a chance to win NFTs. Source link
Searching for crypto’s future stars among young prospects. Source
Even with population growth, crypto may struggle to reach 5 billion users by 2047. More detailed analysis is needed, but with the continued digitalization of our traditional banking system, I think a more conservative back-of-the-envelope estimate is a range of 2 billion to 3 billion users, and that’s if regulation doesn’t get in the way. Original
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In collaboration with Web3 art collective Iconic Moments, the “Beyond the Edge,” collection features four perspectives from Pollock’s studio floor, where he splattered and dripped paint in his iconic style. The artwork features elements from his paintings including “Number 3,” “Blue Poles” and “Convergence,” which currently reside in museums across the globe. Source