Day: September 12, 2023

Are NFT markets in a death spiral or ready for a resurgence?

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Nonfungible tokens (NFTs) saw a massive surge in popularity in 2021, accompanied by sky-high prices, but the market has since come crashing back to earth, and it’s unclear whether there will be a resurgence.  NFTs are unique digital tokens recorded on a blockchain to certify ownership and authenticity. They can’t be copied or substituted but can be transferred and sold by their owner. According to analytics platform NFTGo, the NFT market cap valued in Ether (ETH) is down 40.59% over the past year at the time of writing, with trading…

TikTok Officially Launches Its E-Commerce Shop in United States

To encourage collaboration, TikTok Shop has introduced an affiliate program, allowing sellers to partner with creators on a commission basis to promote their products. TikTok has launched its long-anticipated e-commerce platform, TikTok Shop, in the United States, marking a significant milestone in the evolution of online shopping. With a user base of over 150 million in the country, the move aims to revolutionize how Americans shop online. The popular social media platform launched the pilot of its e-commerce program in November 2022. In February this year, the company started adding…

Former Celsius CEO Mashinsky seeks dismissal of FTC case

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Alex Mashinsky, the founder and former CEO of now bankrupt crypto lender Celsius, filed a new motion in court seeking the dismissal of the Federal Trade Commission (FTC) case against him “in its entirety.” The legal counsel for the former Celsius boss argued that the allegations against their client do not support the claim that he knowingly made a misstatement to “fraudulently obtain customer information from a financial institution.” According to the lawyers, the accusations do not meet the standards for a claim under the Gramm-Leach-Bliley Act (GLBA). This 1999 law…

Binance.US Responds to SEC, Calls Agency’s Requests ‘Unreasonable’

Lawyers representing Binance.US believe that, overall, the SEC’s moves so far would do more harm than good for its bidding. Binance.US has claimed that the United States Securities and Exchange Commission’s (SEC) requests have been “unreasonable” with most of its requests. This is according to sealed documents filed by attorneys of the Binance.US cryptocurrency exchange on September 12. The filing – a response to SEC’s earlier request to get additional details from Binance, says most of the requests by the regulator are “unreasonable” and “unduly burdensome”. As earlier reported, the…

Sarah Breeden, Incoming Bank of England Deputy Governor, Reiterates Crypto Risks, Supports CBDC at Treasury Committee

“Crypto is an asset that has no intrinsic value, whose price could go to zero and therefore investors should be prepared to lose all of their money,” Breeden said. “That megaphone about the risks in it has been consistent and very clear. However, that technology, I think has got the potential to bring benefits to the financial system.” Source

Domini.art might outperform EOS and Cosmos

As crypto prices decline, the Domini.art (DOMI) presale is gaining momentum, attracting investors. Some analysts claim the project can follow the growth trajectory of established projects like Cosmos (ATOM). To provide some background, ATOM was priced at $0.10 during its initial coin offering (ICO). Currently, it is being traded at $6.60, resulting in a 66x return on investment (ROI) for those who invested during the presale. On the other hand, EOS was initially listed at $1.887880. However, its price is now below the ICO price due to the bear market,…

Altcoin Crash May Be on the Cards

Bitcoin (BTC) reversed Monday’s decline to three-month lows under $25,000 during Asian trading hours, jumping back to around $26,000 as open interest on Binance, Bybit, OKX and Deribit fell to $4.8 billion from $5.05 billion. The decline in open interest suggests short traders were abandoning their bearish bets in what’s known as a short squeeze. The price recovery may remain capped due to a lack of immediate bullish catalysts. The bitcoin spot ETF optimism has faded, with observers shifting focus to the impending liquidation of FTX’s altcoin holdings. Source

Fabian Vogesteller’s Lukso Blockchain Adds ‘Universal Profiles,’ in Push for ‘Fancy’ Ethereum

Currently, the most common type of blockchain accounts, known as Externally Owned Accounts (EOA), have limited recovery options; if a user loses their private key, their crypto holdings are lost forever. EOA accounts also can’t attach information that could be read by other smart contracts, and transaction fees cannot be paid by other parties as well on an EOA, meaning the user is in charge of providing fees for gas. Source link