roadrunner

A Hong Kong lawmaker has invited global cryptocurrency exchanges, including the Nasdaq-listed Coinbase, to register in Hong Kong to provide crypto services. “Please feel free to approach me and I am happy to provide any assistance,” the lawmaker noted. Hong Kong Welcomes Crypto Exchanges Hong Kong legislator Johnny Ng has invited global cryptocurrency exchanges to apply for a license to operate in Hong Kong, following a recent crackdown by the U.S. Securities and Exchange Commission (SEC) on unregistered crypto exchanges and securities tokens. Noting that there has recently been a lot of news about cryptocurrency exchanges, the lawmaker tweeted Saturday: I hereby offer an invitation to welcome all global virtual asset trading operators including Coinbase to come to HK for application of official trading platforms and further development plans. “Please feel free to approach me and I am happy to provide any assistance,” the lawmaker added. Hong Kong recently revamped its regulatory framework for crypto in an attempt to become a crypto and innovation hub. The new law went into effect on June 1. The Hong Kong Securities and Futures Commission (SFC) claimed that its new regulatory regime “seeks to capture all the dimensions of the public’s interface with virtual assets, providing for investor protection and market integrity while managing key risks to financial institutions.” The U.S. SEC has been cracking down on unregistered cryptocurrency exchanges, including Binance and Coinbase. The regulator also sought to freeze the assets held at Binance US. Coinbase CEO Brian Armstrong has reaffirmed that his exchange platform does not list securities. He emphasized Coinbase’s commitment to engaging in a legal battle with the SEC in order to establish clear regulatory guidelines for the cryptocurrency industry. Armstrong further highlighted that Coinbase made multiple attempts to comply with SEC Chairman Gary Gensler’s suggestions and “come in and register.” However, he expressed frustration, stating that it was not possible. “We tried,” he stressed. Meanwhile, Gensler has insisted that the rules regarding cryptocurrency exchanges are clear and that most crypto tokens, other than bitcoin, are securities. Nonetheless, numerous industry participants and lawmakers have strongly criticized him and the SEC for adopting an enforcement-focused approach to regulating the cryptocurrency industry. Do you think all crypto exchanges should set up operations in Hong Kong? Let us know in the comments section below. View the full article

According to Microstrategy founder Michael Saylor, regulators perceive no “legitimate path forward” for cryptocurrencies such as stablecoins, crypto securities, and tokens. In an interview with Bloomberg on Tuesday, Saylor emphasized that the entire industry is bound for rationalization and will undergo a significant metamorphosis into a Bitcoin-centric financial sector, leaving only a few proof-of-work tokens to prevail. Saylor Says Regulators Show No Love Toward Stablecoins, Crypto Securities, and Tokens In an interview with Bloomberg on June 13, Michael Saylor, the founder and chairman of Microstrategy, delved into the recent crackdown on exchanges. Saylor emphasized that Microstrategy has held the belief since 2020 that bitcoin (BTC) stands alone as the “only institutional grade investable asset in the crypto space.” He underlined the fact that BTC is widely recognized as a digital commodity on a global scale, and he speculated that regulators do not envision a promising future for other cryptocurrencies. “[Regulators] don’t have any love for crypto derivatives,” Saylor explained. “They don’t have any love for crypto tokens. And they have a view of crypto exchanges, which is far-constrained. I mean, their view is crypto exchanges should exchange and should trade and hold pure digital commodities like bitcoin. And so the entire industry is kind of destined to be rationalized down to a bitcoin-focused industry with maybe a half a dozen to a dozen other proof-of-work tokens.” In a recent report by Bitcoin.com News, an intriguing tool highlighted that if Microstrategy had invested in ethereum (ETH) instead of bitcoin (BTC), the company would have witnessed a profit of over 50% rather than enduring a 14% decline. This revelation likely holds little significance for Saylor, who remains unwavering in his firm’s bold bet on their massive stash of 140,000 bitcoins. During the Bloomberg interview, Saylor expressed his conviction that the general public is gradually awakening to the realization that “bitcoin is the next bitcoin.” He further insisted that the logical progression for BTC is to multiply its value by tenfold, and then do it all over again. Saylor Expects Bitcoin Dominance to Head Back to 80%, Others Believe Regulation Is Not the Way Forward The founder of Microstrategy underlined his belief that crypto exchanges will eventually comprehend BTC’s reign, assuring them that their business models will remain unscathed as “bitcoin goes up by a factor of 10.” Looking ahead, Saylor predicted a resurgence in bitcoin dominance, propelling it to reclaim the 80% level, a milestone that has remained elusive since 2017. He highlighted the role of regulatory clarity, saying it will propel the industry forward, and claimed that it would eradicate the lingering confusion and unease that he believes hinders institutional investors. “Regulatory clarity,” Saylor affirmed, “is going to drive bitcoin adoption.” Saylor’s perspective, unsurprisingly, received mixed reactions, as not everyone agreed with his stance. Critics argued that relying on the state’s monopoly of force to shield bitcoin (BTC) from free-market competition is not the optimal path forward. One individual pointed out that the very laws and government regulations that the Microstrategy founder advocates for “wouldn’t have let Satoshi create bitcoin.” “You have become everything that Satoshi was fighting against,” the critic contended. Meanwhile, another individual expressed the belief that regulation ultimately enables governments to seize one’s wealth, simplifying it as “retaining the government’s ability to steal your wealth.” What are your thoughts on the growing regulatory scrutiny and Michael Saylor’s prediction of a Bitcoin-centric future for the crypto industry? Share your thoughts and opinions about this subject in the comments section below. View the full article

An economist, who previously worked at the Bank for International Settlements (BIS), has provided insights on the possibility of a BRICS currency coexisting with the U.S. dollar. Noting that China is a major trading partner of all BRICS nations, he suggested: “Pegging to the renminbi and aligning their bilateral exchange rates would be the first major step.” BRICS Currency vs U.S. Dollar Herbert Poenisch, a senior fellow at Zhejiang University and former senior economist at the Bank for International Settlements (BIS), discussed the viability of a BRICS currency in an opinion piece published on Tuesday by the Official Monetary and Financial Institutions Forum (OMFIF). The economist highlighted that during a meeting last week, foreign ministers from the BRICS countries (Brazil, Russia, India, China, and South Africa) convened alongside ministers from various nations, including Iran, Egypt, the United Arab Emirates, and Saudi Arabia. “The main topic of discussion was the creation of a common BRICS currency,” he noted, adding that the officials also discussed BRICS membership expansions. More than 19 countries have reportedly applied to join the economic bloc or have expressed interest in joining. Poenisch explained that Russia, Brazil, and China currently utilize their respective currencies for settling bilateral trade payments, but this payment system encounters challenges when imbalances occur. Noting that creating a common BRICS currency “is not a new idea,” he opined: But if such a currency is ever achieved, it is unlikely to replace the dollar — it would exist in addition to the established dollar-based global monetary system. “It will be a regional initiative rather like the euro,” he continued, emphasizing: “In the case of Europe, the process from bilateral settlements to a common currency took close to 50 years.” Pegging to the Renminbi Poenisch further detailed that China is the main trading partner of all BRICS member nations, but trade between the member countries themselves is relatively limited. “Pegging to the renminbi and aligning their bilateral exchange rates would be the first major step,” he suggested. “At the same time, a mechanism would have to be set up to provide credit in renminbi to countries that run trade deficits, such as India and South Africa.” He believes that an organization similar to the European Payments Union (EPU) and a management agent like the Bank for International Settlements (BIS) would need to be established. “China would have to shoulder the burden to keep such a clearing system afloat,” he stressed. “This means setting up the mechanism and institutions, providing sufficient funds to support a liquidity shortfall and providing a reserve facility to deposit surplus funds. In addition, it would need to remove obstacles to the fungibility of the renminbi as surplus supply of other currencies should be freely converted into renminbi and used by other countries.” The economist described: All this would boost the internationalization of the renminbi and increase the pressure on China to liberalize its financial account. Both have major ramifications for the country’s domestic monetary policy. Do you agree with the economist about the BRICS currency and the U.S. dollar? Let us know in the comments section below. View the full article

Due to the unique traits it presents, Latin America has been a thriving region for cryptocurrency, as the technology aims to complement or even substitute traditional finance components that cannot be used in certain countries in the area. Marked by the vast differences between its countries, grouping Brazil — one of the first economies of the world — and countries like Venezuela and Argentina, which face enormous economic challenges, Latam is home to two crypto use cases. The first presents its speculative side, while the second, grassroots-focused use case seeks to substitute payment channels in sanctioned countries, serving as a hedge against devaluation and inflation. Bitcoin mining is also an emergent activity on the continent, with companies seeking to take advantage of the cheap power tariffs and ideal climates that countries like Paraguay and Argentina offer to incoming mining companies. The region is home to El Salvador, the first country to adopt bitcoin as legal tender, which is now facing various challenges stemming from the emergence of this currency in a dollar-dominated economy. Bitcoin.com News sends Latam news directly to readers’ email inboxes, helping them understand Latin American crypto events and developments by putting them in context of the economic reality of the region. Sign up for the Latam Insights weekly newsletter below. Register your email here to get a weekly update on Latam news in your inbox: View the full article

U.S. Treasury Secretary Janet Yellen has warned that despite some human rights concerns that need to be addressed, ceasing trade with China would be a “big mistake” for the U.S. “De-risk? Yes. Decouple? Absolutely not,” she stressed, adding that the outcome of decoupling from China would be “disastrous.” Yellen Warns Against Decoupling From China U.S. Treasury Secretary Janet Yellen told the House Financial Services Committee on Tuesday that it is in the best interest of the United States to maintain ties with China. She emphasized during her congressional testimony: While we surely have concerns that need to be addressed, decoupling would be a big mistake. Yellen explained that Americans benefit from purchasing goods that are more affordable to produce in China, while China benefits from the exports it receives from the United States. Some lawmakers disagreed with Yellen. For example, Congresswoman Ann Wagner (R-MO), Chair of the Financial Services Subcommittee on Capital Markets, opined: “I think it’s appropriate, and in fact, essential, that we decouple from Chinese industries and entities that are actively participating in unthinkable human rights abuses.” In response, Yellen clarified that there are currently sanctions in effect, prohibiting Americans from engaging in business with entities involved in China’s alleged human rights violations. Reiterating that it would be “disastrous” for the U.S. to cease trading with China, the Treasury Secretary stated: De-risk? Yes. Decouple? Absolutely not. The Secretary of the Treasury also urged lawmakers to increase lending to developing countries to counter China’s growing influence. She emphasized that the Biden Administration aims to enhance participation in various programs, including those offered by the International Monetary Fund (IMF), the Inter-American Development Bank (IDB), and the African Development Fund (ADF). “These investments will bolster our engagement in these regions at a time of geopolitical competition,” Yellen stressed, noting that they serve as “an important counterweight to nontransparent, unsustainable lending from others like China.” Do you agree with Treasury Secretary Janet Yellen that the U.S. should not decouple from China? Let us know in the comments section below. View the full article

Another politician entered the race for America’s presidential election in 2024, and unlike the Democratic incumbent, Joe Biden, and the Republican, Donald Trump, this candidate is crypto-friendly. Miami mayor Francis X. Suarez filed to run as a Republican, according to his recent Federal Election Commission filing. Miami Mayor Francis Suarez Makes Presidential Bid Francis X. Suarez, the American lawyer and 43rd mayor of Miami, Florida, is running for president of the United States after filing with the Federal Election Commission. Suarez hinted at the news last Sunday during an appearance on Fox News, where he teased a significant announcement. He will compete against two prominent Republicans from Florida: former president Donald Trump and governor Ron DeSantis. Reports detail that Suarez plans to make his official bid announcement at the Ronald Reagan Presidential Library in Simi Valley, California. Known for his support of cryptocurrencies, Suarez has been a vocal proponent of bitcoin (BTC). As the mayor of Florida’s second-most populous city, he received his paycheck in BTC and chose to invest a portion of his 401K retirement plan in bitcoin. He has also explored the possibility of allocating some of Miami’s treasury reserves to bitcoin and has been supportive of initiatives to enable Miami residents to pay taxes using bitcoin. A new Super PAC is supporting Suarez, and he has secured a “six-figure” advertisement that will be broadcasted in three states. According to The New York Times, the ad is set to air in Nevada, Iowa, and New Hampshire. The Times states that the ad features footage of crime and a burning car, referencing it as “Joe Biden’s America.” Additionally, the ad highlights the declining crime rate in Miami since Suarez assumed office. In the realm of cryptocurrencies, Suarez holds an advantage due to his advocacy. The same cannot be said for Joe Biden or Donald Trump, both of whom have expressed disdain for bitcoin and the cryptocurrency industry in general. However, Suarez will face competition from other candidates who do support bitcoin and the crypto sector. One such candidate is Robert F. Kennedy Jr., a Democratic contender who recently announced his campaign’s acceptance of BTC. Kennedy is also critical of a central bank digital currency (CBDC) and believes it could lead to financial tyranny. On the Republican side, DeSantis also opposes a CBDC and has demonstrated a friendly stance toward crypto assets. Additionally, Suarez will contend with Vivek Ramaswamy, a Republican bureaucrat who is also crypto-friendly and accepting bitcoin (BTC) for campaign contributions. What do you think about Miami mayor Francis Suarez running for president? Share your thoughts and opinions about this subject in the comments section below. View the full article

XRP plunged by over 9% on Wednesday, as traders moved to secure profits following a recent ten-week high. This decline comes as overall market sentiment remains bearish, following last week’s actions by the U.S. Securities and Exchange Commission (SEC). Cardano was also back in the red today. XRP XRP, formerly ripple, dropped by over 9% in today’s session, as traders seemingly moved to secure recent gains. XRP/USD rose to a ten-week high of $0.5614 on Tuesday, however today’s sell-off has sent the token to a bottom at $0.5009. The decline comes as bulls were unable to maintain yesterday’s breakout of a key resistance level at $0.5490. Looking at the chart, the shift in sentiment came as the relative strength index (RSI) retreated to a floor of its own at 52.00 At the time of writing, the index is tracking marginally above this point at 52.11, with a ceiling of 58.00 the possible target for bulls. In the event it reaches this level, it is likely that XRP will once again be trading above $0.5500. Cardano (ADA) Cardano (ADA) was another notable token to move into the red on Wednesday, with the price remaining close to a key support point. Following a high of $0.2895 on Tuesday, ADA/USD dropped to an intraday low of $0.2699 today. As a result of the move, cardano remained near its long-term price floor at $0.2700, which was broken over the weekend. Saturday’s drop sent ADA to its weakest point since January, however this decline was short lived, with bulls sweeping in to buy the dip. Despite rebounding in recent days, the RSI continues to track below 30.00, which is a sign of current bearish pressure. Bulls are likely looking at the $0.3000 level as a short-term target, however there will likely be a high level of volatility preventing this point from being hit. Register your email here to get weekly price analysis updates sent to your inbox: Will there be a price recovery in cardano this week? Let us know your thoughts in the comments. View the full article

On Wednesday, June 14, 2023, at block height 794,304, the Bitcoin network recorded its third consecutive mining difficulty increase since May 18. The mining difficulty climbed by 2.18%, bringing the overall difficulty to another unprecedented high at 52.35 trillion. Bitcoin Mining Difficulty Hits All-Time High Amidst Price Dip Bitcoin’s mining difficulty experienced yet another surge on Wednesday morning at 7:27 a.m. (ET), rising by 2.18% and making it even more challenging for bitcoin miners to uncover blocks. Before this modification, the preceding 2,016 blocks had an average hashrate of roughly 374.5 exahash per second (EH/s). Currently, the hashrate is cruising at 329 EH/s; however, on June 11, 2023, the network notched another 24-hour all-time high of 516.61 EH/s at block height 793,868. The most recent spike in difficulty has also propelled it to a record-breaking high of 52.35 trillion. Over the last six weeks, miners have grappled with three consecutive increases and an overall increase of 8.8% since May 18, 2023. Nevertheless, BTC prices have dipped during the last two weeks, which coupled with the heightened difficulty, makes it even more formidable for mining participants. Despite these recent hurdles, block intervals remain below ten minutes in length and saw a record-breaking hashrate just three days ago. As of this writing, Foundry USA leads as the top mining pool with a hashrate of 131.40 EH/s for the past three days, or about 34.20% of the total hashrate. Antpool follows in second place with a hashrate of approximately 90.34 EH/s or roughly 23.52% of the global share. Foundry and Antpool are succeeded by F2pool, Binance Pool, and Viabtc. The next difficulty retarget is scheduled after the discovery of 2,016 blocks, likely occurring around June 28, 2023. Thus far, the last two difficulty increases have not dampened miners’ determination, and the newest uptick will further put their resilience to the test. What are your thoughts on the relentless rise in Bitcoin mining difficulty? Do you think miners will be able to overcome these challenges and maintain profitability? Share your thoughts and opinions about this subject in the comments section below. View the full article

PRESS RELEASE. During the Blockchain Pizza Festival held from May 22nd to May 31st, BitFuFu organized an exciting “Team Up, Mine More” event that attracted the attention and participation of many miners. This special event showcased BitFuFu’s commitment to delivering exceptional mining experiences and garnered significant attention from influential mining Key Opinion Leaders (KOLs) and media outlets. It exemplified BitFuFu’s professionalism in the cloud mining industry and garnered high praise from its users. BitFuFu’s “Team Up, Mine More” campaign during the Blockchain Pizza Festival resonated strongly with the mining community, fostering a spirit of collaboration and unity. Seasoned miners eagerly participated, leveraging their collective expertise and resources to maximize mining efficiency and profitability. The “Team up, Mining more” campaign captured the imagination of miners, creating a sense of community and collaboration. This unique approach not only deepened the sense of camaraderie among miners but also highlighted the tremendous potential of BitFuFu’s cloud mining model. The remarkable success of BitFuFu’s cloud mining platform has garnered attention from renowned mining KOLs and media outlets. These industry experts have recognized BitFuFu as a leading force, lauding its innovative cloud mining solutions. Their extensive coverage has further solidified BitFuFu’s reputation as a trusted and groundbreaking platform within the mining industry. The BitFuFu platform fosters an open and supportive community, actively listening to miners’ feedback and suggestions. This user-centric approach allows BitFuFu to continually enhance its offerings, ensuring that miners have access to the most advanced and efficient mining solutions available. As BitFuFu continues to lead the way in cloud mining, it remains dedicated to driving the industry forward through technological innovation and user collaboration. By harnessing the power of cloud mining, BitFuFu empowers miners worldwide to achieve their mining goals with ease and efficiency. Join BitFuFu today and experience the future of mining. Together, we can unlock the full potential of your mining operations. Learn more and cloud mining at www.bitfufu.com. This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

Bitcoin fell below a key resistance level on Wednesday, as markets prepare for the upcoming U.S. Federal Reserve interest rate decision. It is expected that the Fed will keep interest rates unchanged at 5.25%. Ethereum remained below $1,800 in today’s session. Bitcoin Bitcoin traded below a key price ceiling in today’s session, as traders began to anticipate this afternoon’s U.S. Federal Reserve rate decision. BTC/USD dropped to a bottom at $25,728.37 earlier in the day, which comes less than a day after trading at a high of $26,376.35. Today’s low comes as BTC bulls were unable to sustain a breakout above the aforementioned resistance of $26,300. Bitcoin chart by TradingView Overall, the relative strength index (RSI) of 14 days is also hovering around a ceiling of its own at 43.00. At the time of writing, the index is tracking at 42.56, with BTC attempting to break into the $26,000 mark. Should bulls manage to move beyond the obstacle on the RSI, there is a strong chance that price will climb past $26,300 with relative ease. Ethereum Ethereum (ETH) was largely consolidating on Tuesday, after nearing a breakout below $1,700 earlier in the week. Following a high of $1,761.96 yesterday, ETH/USD slipped to an intraday low of $1,727.75 on Wednesday. As a result of the decline, the world’s second largest cryptocurrency moved below a floor at $1,730. Ethereum chart by TradingView Bulls have since stabilized this support zone, which came as the RSI found its own floor at 38.00. Price strength is now at 38.81, which is within the oversold region, and a possible positive for bulls looking to buy low. Register your email here to get weekly price analysis updates sent to your inbox: Could we see an influx of bulls buying ethereum after today’s rate decision? Leave your thoughts in the comments below. View the full article

The founder of failed cryptocurrency exchange Thodex has denied all fraud-related allegations in a Turkish court. The crypto entrepreneur was handed over to Turkey by Albanian authorities earlier this year to face charges for his leading role in running the now defunct platform. Alleged Crypto Fraudster Faruk Ozer Claims He Was Framed in Thodex Case Faruk Fatih Ozer, founder and chief executive of the Turkish crypto exchange Thodex, has denied defrauding investors on the trading platform, local media reported. On June 12, he made his first court appearance in his home country after his extradition from Albania in April. Thodex collapsed in 2021 after attracting 400,000 users and Ozer fled Turkey with a reported $2 billion of investor money. He was wanted on an Interpol red notice until his arrest by Albanian law enforcement authorities on Aug. 30, 2022. During the hearing on Monday, part of a trial against 21 people charged in connection with the exchange, Ozer claimed that he was framed, rejecting all allegations of fraud against him. Seven of the other defendants are also in detention, the Hurriyet Daily News noted in a report. “Our initial purpose was to engage in e-commerce. As I dealt with e-commerce, cryptocurrencies caught my attention,” the businessman explained. “Later, I realized I could profit from it through my social circle, so I shifted the company in that direction … My entire life became intertwined with the digital world in order to establish a cryptocurrency exchange,” he was quoted as saying. Ozer insisted more than once that all decisions made in the company were his own, pointing out that his sister, Serap Ozer, who was on the exchange’s management team, had no real authority. He was also the only person who checked all bank transactions made by the exchange. “It is a black mark on the legal system that my employees have been imprisoned for two years,” Faruk Ozer stated in the court room. According to the indictment filed by the Chief Public Prosecutor’s Office in Istanbul, they have been charged with establishing a criminal organization, committing fraud and money laundering. Prosecutors seek a maximum of 40,564 years of imprisonment in total for them for these crimes. Do you think Thodex founder Faruk Ozer will be convicted on the fraud charges? Tell us in the comments section below. View the full article

While the blockchain and decentralized finance are often touted as the future of finance, according to Binance’s head of product Mayur Kamat, more people will become comfortable using these when there are crypto “wallets that work like modern technology.” For Kamat, an early bitcoin buyer and holder, simplifying the user experience and reducing friction for existing users are some of the steps that can bring more people to decentralized finance (defi) and Web3. Blockchain and Decentralized Finance Are Not Easy for Everyday Users Also, in his written answers to questions sent, the executive told Bitcoin.com News that the blockchain industry which is constantly innovating will attract more users if it creates crypto wallets that come embedded with “more options and choices for our users.” Besides making wallets more “noob friendly,” Kamat — former product manager at the tech giant Google — suggested that when industry participants are more receptive to the user’s views or feedback their businesses will also grow. When this happens the whole industry will also grow, Kamat argued. Below are Kamat’s answers to all questions sent to him via Telegram. Bitcoin.com News (BCN): What, in your opinion, are the biggest roadblocks to the adoption of decentralized finance (defi) and Web3? Mayur Kamat (MK): We need to simplify the user journey and reduce friction for new users. Creating a wallet, connecting to dapps, understanding the multi-chain world, and transferring funds to addresses – all of it is complicated and stressful. Even the OGs mess up. How can we make wallets work like a basic Web2 app where you log in and things just work? That’s what we are working towards. BCN: Binance recently launched a new defi wallet that’s built right into the Binance app. Your firm says it is designed for users who are new to defi. Can you explain how this helps newcomers navigate the defi space? MK: Blockchain technology and defi are not easy for everyday users. There’s friction, blockers and complications. We won’t be able to bring a billion users to crypto without wallets that work like modern technology – they need to be simple and safe. We wanted to create something that people will want to use and that they trust and so there are some obvious advantages when you use the Binance defi wallet and are an existing Binance user. You don’t need to log in again, you don’t need back-up keys or to remember addresses – it is all very seamless. We will add a lot more features soon for users who use both cex [centralized exchange] + dex [decentralized exchange] and we believe everyone will soon will. We also believe that an innovation like the defi wallet which adds more options and choices for our users is what the industry needs. We need to give people more choices to choose the right wallet solution for them so that when people come to crypto and are ready to set up their wallets, they can choose the best fit for what they want to do. BCN: Binance already has a popular self-custodial wallet called Trust Wallet and the “original” defi wallet. How is this new wallet different and what gap in the market is it going to fill? MK: As I mentioned before, innovation like the defi wallet adds more options and choices for our users – and this is what the industry needs. The industry and innovation in this space moves fast, creating this new wallet is a reflection of making things simpler and it’s the Binance way to keep iterating and keep building so that we’re able to provide people with the latest options and choices so that they can pick the best solution that works for them. BCN: What else are you building that users expect from your company in the near future? MK: Well, we are always building at Binance but how we think about product innovation isn’t to “forward plan” products as such. We make sure that we’re building for the community and putting our efforts into the products that they want and that will make a difference to their lives and the industry. The reality of how we do that is that we have to listen to what the community wants, we get so much feedback, thousands and thousands of suggestions of what people want to see – so we even built something to cater for that with the Binance Feedback Tool that we launched earlier this year – we did this to make it easier to have a direct conversation with the community about how and what we build for them. If we do right by the users, Binance will grow because the industry will continue to grow. Trends come and go – we try to focus on the core of our tenets – user-focused, community-driven, transparent and agile. Broadly – I think about how we build at Binance in 3 categories – how can we build on our commitments to improve the industry? These are important, deliberate choices we make that drive the industry forward or that could help legal and regulatory approval – like proof-of-reserves. Then, how do we iterate and innovate on the core functions of Binance – like the exchange, trading and the Binance app and finally, what are the big bets we can take to drive the industry forward? These might be a bit more out there but they set an example and move things along in the industry – like launching a tax tool to help people with crypto taxes or introducing a new defi wallet. What are your thoughts about this interview? Let us know what you think in the comments section below. View the full article

A16z, a tech-focused venture capital company, has announced that it will open its first office in London to take advantage of the friendly regulatory environment in the U.K. Prime Minister Rishi Sunak stated he was thrilled about this expansion and that the U.K. would continue to embrace innovations like Web3, powered by blockchain tech. A16z to Open First Office in London Later This Year A16z, a tech and Web3 venture capital company, has announced that it will expand to London to take advantage of the friendly regulatory environment. Chris Dixon, general partner and founder of A16z Crypto, explained that the company had been working with different policymakers, finding a receptive attitude in the U.K. About this, Dixon stated: It has become clear that the U.K. government sees the promise of Web3. U.K. authorities are also willing to work with the industry to create policies that incentivize startups to pursue decentralization. In this sense, Dixon explains that policymakers in the U.K. are taking “an approach that is uniquely tailored to blockchain and digital asset regulation,” identifying the traits and possibilities of Web3 technology while also putting customer protection at the forefront. The office, which will be opened later this year, will be led by Sriram Krishnan, a general partner, and will focus on building the startup and cryptocurrency ecosystem in the U.K., taking it as an entrance to Europe. A16z clarified that it remains invested in the U.S. and is willing to push for clear regulations in the crypto environment. Government Support Rishi Sunak, prime minister of the U.K., welcomed A16z’s expansion into the country, stating he was thrilled to receive it and also about its decision to “open their first international office in the U.K. – which is testament to our world-class universities and talent and our strong competitive business environment.” On the role of these technologies in the development of the U.K, Sunak declared: As we cement the UK’s place as a science and tech superpower, we must embrace new innovations like Web3, powered by blockchain technology, which will enable start-ups to flourish here and grow the economy. The expansion announcement comes after several legal actions were exerted by the U.S. Securities and Exchange Commission (SEC) against two behemoth cryptocurrency exchanges, Coinbase and Binance. Several lawmakers, including Sen. Cynthia Lummis, have stated these actions are taking cryptocurrency companies and innovation out of the U.S. and into countries like China. What do you think about A16z’s expansion to London? Tell us in the comment section below. View the full article

Dilma Rousseff, president of the New Development Bank — also known as the BRICS bank — and former Brazilian president, has called for establishing a financial architecture designed for the so-called Global South. In a keynote speech at the 14th Lujiazui Forum, Rousseff remarked on the importance of this new structure for promoting sustainable growth. BRICS Bank President Rousseff Calls for Direct Liquidity to Global South Countries Dilma Rousseff, president of the New Development Bank (NDB), also called the BRICS bank, has outlined the role she believes the institution must follow. In an opening keynote speech at the 14th Lujiazui Forum held in Shanghai, titled “Global Financial Opening-up and Cooperation: New Drivers of Economic Recovery,” Rousseff talked about the importance of establishing alternative financial structures tailored for the Global South. Rousseff stated: It is urgent we create a new architecture to channel the available liquidity to make financing feasible on the scale and under the conditions required by the countries of the Global South. The concept of the Global South, coined by American Writer Carl Oglesby in 1939, refers to underdeveloped countries outside of the traditional centers of power, including parts of Latam, Africa, Asia, and Oceania. Furthermore, Rousseff detailed that creating these new financing tools, preferably in local currencies, was “essential” for promoting long-term investments. This is not the first time Rousseff explained the importance of funding these initiatives with local currencies. During the keynote of the eighth annual meeting of the BRICS bank, Rousseff declared: We will seek to fund a greater share of our projects in local currencies, with the dual objective of strengthening the member countries’ domestic markets and protecting our borrowers from the risks of currency fluctuations. Supporting Multilateralism Rousseff mentioned multilateralism has a “strategic significance,” explaining that projects like the Chinese “Belt and Road” initiative promote a balance in the new multipolar world order now being configured, outlining that the BRICS bank would work for building a more equitable and sustainable world. In this regard, the bank has already included three countries more that are not part of the BRICS bloc: Bangladesh, Egypt, and UAE. Argentina, currently engaged in a loan agreement with the International Monetary Fund (IMF), has also applied to be part of the BRICS bank and receive financial support. Honduras is the latest country that has formally applied to be admitted to the bank, presenting its formal application during a recent visit of Honduran President Xiomara Castro to Shanghai. What do you think about the BRICS bank’s push to construct alternative financial structures directed to the Global South? Tell us in the comments section below. View the full article

Binance fired back at the U.S. Securities and Exchange Commission’s temporary restraining order (TRO) request on Monday, assuring the court that “there is no risk” to customer assets. The exchange’s legal team dismissed the notion of an “emergency,” claiming that it is “manufactured by the SEC for its own purposes.” ‘Why Now?’—Binance Hits Back at SEC’s TRO Bid, Questions Timing and Urgency Approximately a week ago, the U.S. Securities and Exchange Commission (SEC) made a move to secure a court’s approval in order to freeze the assets of Binance US, the United States subsidiary of Binance. The SEC’s aim behind filing for a temporary restraining order was to safeguard customer assets, as stated in their request. However, Binance responded on June 12 by opposing the TRO request and asserting that there is no urgent situation and that customer assets are secure. According to Binance’s legal team, if the SEC had been aware of Binance’s regulatory violations and its open provision of services to U.S. customers for an extended period, they question “Why did the SEC let these platforms grow to their current size if it was always illegal?” Additionally, the lawyers highlight the fact that the SEC filed a lawsuit against Coinbase the very next day, prompting them to insist that the SEC provide a satisfactory response to the fundamental question of “Why now?” The attorneys firmly argue that the request for a temporary restraining order is “unwarranted and improper,” as they perceive it to be based on the “unfounded and subjective worries” of the SEC’s staff. SEC ‘Does Not Have Authority’ Requiring Registration When Crypto Registration Definitions Have Not Been Defined by the U.S. Government “The case alleges only registration violations against [Binance Holdings Limited (BHL)] and only control person liability for registration violations against Mr. Zhao,” the court filing details. “The SEC’s brief does not identify a single instance in which BAM customer assets were mishandled or misused. Its charges against BHL and Mr. Zhao, focused exclusively on failure to register, do not demonstrate that the dramatic remedies the SEC seeks are justified at all.” Furthermore, Binance vehemently asserts that the SEC lacks legal grounds due to the absence of a proper definition for crypto assets by Congress or under federal securities laws. The lawyers’ state: The SEC does not have authority to require registration when it has not answered the threshold question of what cryptocurrency assets, if any, constitute securities under federal securities laws. This complex question is the subject of intense debate and extensive legal proceedings across the nation. Binance’s stance aligns with the concerns raised by numerous other cryptocurrency enterprises, emphasizing the crucial fact that the U.S. government has yet to establish a clear definition distinguishing crypto assets as either securities or commodities. In a public statement, SEC Chair Gary Gensler acknowledged that bitcoin (BTC) does not fall within the purview of federal securities laws. However, he also expressed his belief that the majority of contemporary crypto assets should be classified as securities, with only enforcement actions providing specific instances of the U.S. regulatory body designating certain assets as investment contracts. “Because if the SEC cannot establish that registration was required (be it for offers and sales of securities, as an exchange, as a broker-dealer, or as a clearing agency), it cannot prevail on the merits,” Binance’s lawyers explain. Although Binance’s legal team opposes the temporary restraining order (TRO) request, they express openness to a proposed consent order (PCO) that would entail Binance US refraining from transferring assets to its parent company or any other entities. The PCO would also facilitate “accounting and expedited discovery,” and as a gesture of good faith, all private keys and administrative keys would be provided to the government. Moreover, Binance asserts that the company and its CEO, Changpeng Zhao (CZ), have been in communication with the SEC since 2021. The lawyers further claim, however, that BHL and CZ were unaware of being targeted by the SEC until February 2023. What are your thoughts on Binance’s legal battle with the SEC? Do you believe the SEC’s emergency claim is justified, or is it indeed manufactured for its own purposes? View the full article

Coin Metrics researchers published a groundbreaking study on June 13, unveiling an innovative nonce analysis methodology for bitcoin mining. This research enables experts to dissect and identify the specific mining rigs responsible for contributing hashrate to the network, while also evaluating the energy consumption and effectiveness of these machines. Intriguingly, the data reveals that Bitmain has exerted its dominance over the industry for an extended period, with three primary Antminer models now commanding the majority of today’s hashrate. Groundbreaking Methodology Shows Researchers Can Dissect and Identify Miner Type, Energy Usage, E-Waste, and Efficiency Karim Helmy, a researcher at Coin Metrics, revealed a new mining study, titled “The Signal & The Nonce,” that takes a fresh approach to exploring the hashpower of the Bitcoin network. Introducing an innovative methodology, the study utilizes nonce patterns to unveil the market share held by each significant application-specific integrated circuit (ASIC) mining rig that drives the network’s operations. To decipher the data, Helmy acquired or leased a diverse range of ASICs that were the subject of the research. In order to gather insights, he established a proxy pool utilizing Luxor’s relay system. This relay intercepted and meticulously recorded a substantial volume of nonces generated by each ASIC device. Subsequently, the collected data was encoded and transformed into various formats, enabling the identification of patterns with enhanced clarity like never before. A few notable points emerge from the data, including “Bitmain’s sustained dominance in the hardware market,” as outlined in the research. Moreover, it is noteworthy that Bitmain’s 2016 Antminer S9 has displayed “surprising resilience,” as these older miners have recently fallen below the threshold of detectability. Presently, Bitmain’s S19j stands as the most dominant ASIC, with the machines generating over 34% of the total hashrate. When considering the combined contributions of the S19 and S19 XP units, they account for nearly 42% of the hashrate. Although the growth rate of the S19 XP has risen, according to Coin Metrics, Microbt’s Whatsminer M50s ASIC machines are now undetectable. Furthermore, Coin Metrics uses these statistics to evaluate the overall efficiency of the hardware utilized in the network. This information allows miners to accurately evaluate their position compared to competitors and determine the ideal timing for hardware upgrades. In a tweet, Helmy stated, “The current network composition is staggeringly efficient.” The report also assessed Bitcoin’s energy consumption and compared it to the electricity consumption index developed by Cambridge University’s Centre for Alternative Finance and Digiconomist. According to Coin Metrics’ study, the network utilized fewer gigawatts of power in contrast to the indexes released by these two entities. “This newer methodology has several advantages over the existing body of research,” the researchers opine. “We estimate the network’s power draw at roughly 13.4 GW, or about 16% less than Cambridge’s estimate of 15.9 GW for the month of May 2023.” What are your thoughts about Coin Metrics’ latest study and the dominance of Bitmain’s S19 machines today? Share your thoughts and opinions about this subject in the comments section below. View the full article

On June 13, the largest decentralized exchange (dex) in terms of global trade volume, Uniswap, published a summary of the dex platform’s Version 4 and an early implementation of the code. Uniswap states that the dex version will offer a variety of new features, including a method to customize liquidity pools with a functionality called “hooks.” Customization Takes Center Stage With Uniswap v4 Uniswap has unveiled an update on the project’s upcoming Version 4 (v4) dex iteration and shared a blog post about the team’s vision for the new version and early code. “We see Uniswap as core financial infrastructure [and] think it should be built in public with space for community feedback and contribution,” the team noted on Tuesday. While v4 will bring several changes, the most prominent feature mentioned is customizable liquidity. “Enter hooks, which are plugins to customize how pools, swaps, fees, and LP positions interact,” Uniswap’s blog post about the subject details. “Developers can innovate on top of the Uniswap Protocol’s liquidity and security to create customized AMM pools through hooks that integrate with v4’s smart contracts.” Example adjustments mentioned include a time-weighted average market maker (TWAMM), dynamic fees based on volatility, onchain limit orders, out-of-range liquidity depositing to lenders, and custom onchain oracles. Other potential features could involve auto-compounded LP fees back into LP positions and internalized MEV profits with the ability to distribute them back to LPs. Uniswap believes that these ideas merely scratch the surface of what developers can customize and achieve with hooks. Uniswap says: Really, the sky’s the limit. Because each pool is now defined by more than just the tokens and fee tier, we’ll see pools of all colors, shapes, and sizes. Uniswap v4’s core logic, like v3, is non-upgradeable. While each pool can use its own hook smart contract, hooks can be limited to only specific permissions determined at pool creation. Uniswap concludes that the release of the code will be governed by a Business Source License 1.1, which imposes restrictions on the utilization of the v4 source code in a commercial or production environment for a maximum duration of four years. After this period, the license will transition to a GPL license, remaining in effect indefinitely. The team concludes that, similar to v3, Uniswap Governance and Uniswap Labs retain the authority to grant exemptions to this license. What are your thoughts on Uniswap’s Version 4? Share your thoughts and opinions about this subject in the comments section below. View the full article

The U.S. Bureau of Labor Statistics’ consumer price index (CPI) report, released on Tuesday, reveals that inflation in the United States has eased to a yearly rate of 4%. The latest development arrives just ahead of the upcoming Federal Open Market Committee (FOMC) meeting scheduled for June 14. The prevailing market sentiment leans towards the anticipation that the Fed will maintain the current benchmark interest rate. Consumer Price Index Report Shows U.S. Inflation Slows to 4% Amid Market Expectations for Steady Interest Rates The latest report from the U.S. Bureau of Labor Statistics (BLS) reveals that the annual inflation rate dipped to 4% in May. This data marks the smallest increase since March 2021, a significant turning point when inflation began its rapid ascent, prompting the Federal Reserve to adopt measures such as monetary tightening and interest rate hikes. “The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.1 percent in May on a seasonally adjusted basis, after increasing 0.4 percent in April,” the U.S. Bureau of Labor Statistics reported. “Over the last 12 months, the all items index increased 4.0 percent before seasonal adjustment.” The announcement had a positive impact on Wall Street as all four key stock indexes experienced gains, while the crypto economy witnessed a 0.62% rise on Tuesday morning. However, the New York-based spot prices of gold and silver took a hit, with gold declining by 0.23% and silver shedding 0.37%. Market participants eagerly await the upcoming FOMC meeting tomorrow to ascertain whether the U.S. Federal Reserve will opt for an increase in the federal funds rate. Presently, the interest rate stands at its highest point in 16 years, and the CME Fedwatch tool indicates a staggering probability of over 93% that there will be no rate hike this month. Approximately 6.9% of market participants anticipate a 25-basis-point (bps) increase by the U.S. central bank. Nevertheless, history has shown the Fedwatch tool to be remarkably accurate, suggesting that the 25bps hike may be deferred until the subsequent FOMC meeting. While there is a prevailing belief among many that the Federal Reserve will refrain from increasing the rate this month, a considerable number of analysts and economists hold the view that the Fed will maintain this pause throughout the entirety of 2023. “The encouraging trend in consumer prices will provide the Fed some leeway to keep rates unchanged this month and if the trend continues, the Fed will not likely hike for the rest of the year,” Jeffrey Roach, chief economist at LPL Financial told CNBC on Tuesday following the latest CPI report. Will the latest dip in inflation convince the Federal Reserve to maintain interest rates or could it signal a shift in monetary policy? Share your thoughts and opinions about this subject in the comments section below. View the full article

BNB snapped a four-day losing streak on Tuesday, as traders moved to buy the recent dip in price. The native token of Binance fell to a six-month low to start the week, following recent sentiment surrounding the exchange. XRP also rebounded today, hitting a multi-month high. BNB BNB rebounded from a recent losing streak on Tuesday, as bulls rushed in to buy the recent dip in price. After a low of $220.60 on Monday, BNB/USD climbed to a peak of $245.64 earlier in today’s session. Tuesday’s rally sees the token move away from yesterday’s bottom, which was the lowest point price had hit since December 17. Despite today’s rally, price is still in oversold territory, with the relative strength index (RSI) below the 30.00 mark. At the time of writing, the index is tracking at 24.58, which is marginally above a ceiling at 24.00. BNB is now trading at $241.98, which is close to a support point of $242.00. XRP Another notable gainer on Tuesday has been XRP, formerly ripple, which moved to a multi-month high. XRP/USD raced to an intraday high of $0.5614 earlier in the day, which comes less than 24 hours after price bottomed out at $0.5139. As a result of today’s surge, the price of XRP spiked to its highest point since March 28, when it peaked at $0.5848. Looking at the chart, earlier momentum has since eased, with the token now trading at $0.5326. Overall, it appears that this occurred as bulls were unable to sustain a breakout of the $0.5490 level. The RSI is currently hovering close to a resistance level of 58.00, which is another key component stopping price from climbing further. Register your email here to get weekly price analysis updates sent to your inbox: Do you expect xrp to move past the $0.5848 level this month? Let us know your thoughts in the comments. View the full article

Crypto exchange Binance US has urged a federal judge to reject a request by the U.S. securities regulator to freeze its assets. The company won’t be able to maintain the trading platform or pay employees and vendors, defense attorneys said in a court filing. ‘No Need for the Draconian Relief Sought by the SEC,’ Binance US Lawyers Say Binance US, the American subsidiary of the largest cryptocurrency exchange, Binance, has asked a federal judge to reject a request filed by the U.S. Securities and Exchange Commission (SEC) to freeze billions of dollars’ worth of assets under its management. Last week, the SEC sought court approval to freeze crypto assets on the platform for the duration of a legal fight against Binance.US, Binance Holdings Ltd. and Binance founder and CEO Changpeng Zhao, citing concerns over the safety of customer funds. “Operations would quickly grind to a halt,” attorneys representing Binance US said in a court filing on Monday, quoted by Bloomberg. The lawyers warned that the exchange will not be able to pay employees and suppliers while emphasizing: With a freeze of all corporate assets, banking partners would most likely cease to honor requests to transfer funds for any purpose, including customer redemptions. When the SEC sued , it accused the exchange of “blatant disregard of US securities laws” and “years of violative conduct.” Mishandling of customer funds and misleading investors and regulators were listed among the alleged violations. The defense team insisted, however, that customer assets are safe and stated: There is no need for the draconian relief sought by the SEC. One of the banking partners of Binance US has already informed the crypto platform it will no longer hold its assets starting on June 14, the filing further reveals. This partner also froze all activity on the company’s account until after the court rules on the SEC’s motion, the report notes. On Thursday, Binance US informed customers that it’s suspending dollar deposits and withdrawals. The exchange asked users to withdraw their holdings in U.S. currency by June 13 as it transitions into a crypto-only trading platform. Do you think Binance US will halt operations in case of an asset freeze? Share your thoughts on the subject in the comments section below. View the full article

Bitcoin rose above the $26,000 level on Tuesday, as markets prepared for the latest U.S. inflation figures. Consumer prices for May are expected to fall to 4.1% — double the Federal Reserve’s 2% target. Ethereum remained below $1,800. Bitcoin Ahead of the upcoming inflation report in the United States, bitcoin (BTC) moved back above the $26,000 level. Following a low of $25,686.04 to start the week, BTC/USD raced to a peak of $26,261.14 earlier today. The move saw bitcoin near a recent resistance level at $26,300, which is one of the last hurdles stopping bulls from moving towards $27,000. In order to get towards this level, a ceiling on the relative strength index (RSI) will also need to be broken. This is the 47.00 level on the indicator, and as of writing, price strength is currently tracking at 44.02. The 10-day (red) moving average will need to also shift course, and divert away from its current downward path. Ethereum Additionally, ethereum (ETH) moved marginally higher, however it continued to trade below $1,800. ETH/USD jumped to a high of $1,757.89 earlier in today’s session, which comes a day after the price was at a bottom of $1,723.09. The latest surge came as bulls took charge at a floor of $1,730, with the RSI bouncing from a floor of its own at 38.00. At the time of writing, price strength is tracking at 39.33, with the next visible point of resistance being 43.00. Should the index move beyond the aforementioned ceiling, there is a strong possibility that ETH will climb to $1,800. Register your email here to get weekly price analysis updates sent to your inbox: Could ethereum hit $1,800 in the upcoming days? Leave your thoughts in the comments below. View the full article

A recent poll conducted by the Cato Institute and public opinion firm Yougov reveals that the majority of Americans are hesitant to adopt a central bank digital currency (CBDC). The findings indicate that support for a CBDC remains relatively low among survey respondents. U.S. CBDC Support Remains Low: Survey Highlights American Hesitation In late May 2023, the Cato Institute, a public policy research organization, and Yougov, a public opinion and data firm, unveiled a survey examining American attitudes toward the potential introduction of a CBDC. From February 27 to March 8, 2023, they polled 2,126 individuals, inquiring about their stance on a CBDC under various circumstances. For example, one question asked participants whether they would endorse or oppose a government-issued CBDC if it allowed the government to monitor all purchases. Just 13% expressed full support for this type of CBDC, while 68% were thoroughly opposed. Approximately 20% remained uncertain and expressed no clear preference either way. Another query posed to respondents was whether they would favor or reject a CBDC that allowed the government to control their spending. In this scenario, only 10% fully backed the idea, whereas 74% were adamantly against it. Roughly 16% professed they were unsure and could not firmly commit to either side. When asked about their support for a CBDC designed to combat money laundering and fraud, 42% declared total approval. Of those surveyed on this topic, about 28% entirely rejected such a fraud-reducing CBDC while roughly 31% could not definitively say if they would support it. Furthermore, when questioned about endorsing a CBDC that ensures welfare recipients use funds as intended, there was an even split: exactly 40% strongly supported it while approximately 31% firmly disapproved and 28% were undecided. Cato’s Polled Respondents Mostly Concerned a CBDC Will Give the Government Total Control Over Spending In general, as far as a CBDC with no set criteria, 34% of Americans oppose the U.S. central bank launching a CBDC and 16% favor the idea. Interestingly, nearly half of those surveyed (49%) did not have a clear opinion on the matter, which may be due to a lack of familiarity with the concept; in fact, 72% of respondents admitted to being unfamiliar with CBDCs. When asked about their concerns regarding a potential CBDC, 66% of respondents cited worries about government control over their finances, while monitoring was the second most common concern. Looking ahead, only 22% of those polled believe that an American CBDC is likely to launch, while the majority (78%) do not anticipate such a development. When it comes to political affiliations, around 15% of the surveyed group identified as Libertarians. Interestingly, most Democrats and Independents did not express a clear opinion on the matter. On the other hand, a majority of Republicans were firmly opposed to the creation of a CBDC. According to the survey, the most attractive aspect of a CBDC was its purported ability to combat money laundering and financial crime. The second most appealing feature was a CBDC that bolstered the welfare system. However, a striking 76% of respondents expressed greater concern about the potential risks associated with a CBDC than its potential benefits. What are your thoughts on the potential risks and benefits of a central bank digital currency? Share your thoughts and opinions about this subject in the comments section below. View the full article

CryptoGames, a well-known online crypto casino, is making waves in the online gambling industry with the launch of its revitalized VIP program and a high stakes wagering competition. These new initiatives promise cryptocurrency gambling enthusiasts a new era of exhilarating challenges and rewarding experiences, raising the bar in online casino gameplay. Challenging Monthly Wagering Contest The monthly wagering competition hosted by CryptoGames offers players a thrilling gambling environment. Kicking off on the first day and wrapping up on the last day of every month, participants compete to move up the leaderboard by making bets on games using their preferred coin. Players can monitor their positions on the real-time leaderboard and adjust their strategies accordingly. The wagering contest allows gamers to test their skills along with an opportunity to ascend the ranks of the elite. The top five performers in the Bitcoin and Ethereum leaderboards, the top three in the Litecoin leaderboard, and the top player for all other coins earn a place in the CryptoGames VIP membership for one month. The Wagering Contest Rewards Every month the contest offers rewards in a variety of cryptocurrencies – Bitcoin, Ethereum, Litecoin, Dash, Bitcoin cash, Dogecoin, Binance coin, Ethereum classic, NeoGas, Solana, and Monero. The rewards are as following: Bitcoin: 10 prizes, up to 3.84 BTC total bonuses and 832 lottery tickets Ethereum: 10 prizes, up to 21.80 ETH total bonuses and 832 lottery tickets Dogecoin: 5 prizes, up to 485,000.00 DOGE total bonuses and 320 lottery tickets Litecoin: 7 prizes, up to 42.50 LTC total bonuses and 792 lottery tickets Binance coin: 7 prizes, up to 15.95 BNB total bonuses Dash: 5 prizes, up to 18.50 DASH total bonuses Bitcoin cash: 5 prizes, up to 18.50 BCH total bonuses NeoGas: 5 prizes, up to 290.00 GAS total bonuses Solana: 5 prizes, up to 290.00 SOL total bonuses Monero: 5 prizes, up to 23.30 XMR total bonuses Ethereum classic: 5 prizes, up to 185.00 ETC total bonuses Based on the current market value, these rewards amount to a grand total of approximately $250,000 USD. This presents an incredibly lucrative opportunity for all participants. Enhanced VIP Membership Benefits The VIP membership, a badge of prestige at CryptoGames, comes with an array of benefits. These perks include a lowered house edge on Dice games, granting VIP members a significant advantage over regular users and much more: Lowered House Edge on Dice Games: VIP members gain a substantial advantage over regular users with a lowered house edge on dice games. Highest Bet Priority: VIP members experience zero server-side delay for any bet size, ensuring maximum bet speed. Higher Exchange Limits: VIP members can bypass the need for third-party exchanges with onsite exchange limits increased to 10 transactions per day, up to a total limit of 1 Bitcoin. VIP Chat Channel and Tag: VIP members gain access to a private chatroom and a special VIP tag displayed in the chat box. Birthday Bonus: VIP members who complete tier 3 verification (KYC) receive a $100 Bitcoin bonus on their birthdays, further illustrating CryptoGames’ dedication to its players. Exclusive Vouchers: VIP members receive special vouchers via email on random days during the 2nd, 3rd, and 4th weeks of each month, which can be redeemed within three months. A New Addition to the VIP Loyalty Bonus CryptoGames introduces a new loyalty bonus for VIP members who achieve VIP status for three or more consecutive months. If a player fails to maintain VIP status for the subsequent month after achieving VIP status for at least three consecutive months, they will still retain most of their VIP benefits. This is a ‘earn three, get the fourth free’ kind of deal, further enriching the VIP experience. More About CryptoGames: CryptoGames is a renowned online cryptocurrency casino that has been making significant strides in the online gaming industry. Established in 2020, the platform has quickly gained recognition for its unique blend of simplicity, security, and a selection of provably fair games. CryptoGames offers ten different games, each with a low house edge between 1% and 2.7%, ensuring a fair and enjoyable gaming experience. The casino accepts a wide range of cryptocurrencies, which includes Bitcoin, Ethereum, Litecoin, Binance coin, Solana, Dogecoin, Monero, Bitcoin Cash, Ethereum Classic, Dash, and NeoGas, providing users with a variety of withdrawal and deposit options. Users can also take advantage of the “ChangeNow” feature to deposit more than 50 different coins and convert it to one of the coins supported by the casino. The platform’s user-friendly interface, together with its commitment to fast transactions and privacy, has made it a favorite among cryptocurrency gambling enthusiasts. Moreover, CryptoGames has a robust security system in place, such as utilizing 2FA, Email notification and confirmation system. With its recent unveiling of an enhanced VIP program and high stakes wagering contest, CryptoGames continues to innovate and provide exciting opportunities for its users. For more information or to compete at the wagering contest visit CryptoGames. This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

The government of Honduras has formally applied to become part of the New Development Bank, known as the BRICS bank, in an official visit of Honduran President Xiomara Castro to Shanghai. Honduras is now another country that has requested entry into the financial organization, alongside Argentina. Honduras Requests Entry to BRICS Bank The New Development Bank, also known as the BRICS bank, has received a formal application from the government of Honduras to be part of the financial institution. The request, delivered personally by Honduran President Xiomara Castro, is part of a state visit by invitation of Chinese President Xi Jinping, directed to complete economic, cultural, and political agreements. Castro visited BRICS bank president Dilma Rousseff in Shanghai, where the institution reaffirmed its “commitment to promoting sustainable development & international cooperation.” At a speech during Castro’s reception, Rousseff explained the BRICS bank was open to receiving more members in its development plans and stated Castro’s visit was of “great importance.” Castro explained that this request seeks to find alternatives to the traditional finance models that “in many cases brought more poverty and misery.” She stated: We think that there are all the possibilities that we could find mechanisms that will allow us to develop our economy and find permanent allies to provide a different level of quality of life to our people. During the visit, Honduras also opened its first embassy in China. New Development Bank Expansion The New Development Bank, although established in 2014, has started to gain relevance recently with the rise of the BRICS bloc and its proposal of decentralization of global finance. The bank already has the participation of three countries — Bangladesh, Egypt, and the UAE — besides the ones that are part of the BRICS bloc: Brazil, Russia, India, China, and South Africa. Argentina is another of the countries expecting to be admitted in the coming months. The entrance of the country to the BRICS bank will be supported by Brazil, according to Rousseff, who also told Argentine Economy Minister Sergio Massa that Argentina’s admission would be voted on in August. Also, according to recent reports, the bank is in talks to accept Saudi Arabia as a member, seeking to diminish its dependence on Russia, which currently holds a 19% stake in the bank. What do you think about the formal application of Honduras to be part of the BRICS bank and its expansion? Tell us in the comments section below. View the full article

Brian Armstrong, CEO of Coinbase, the largest U.S.-based cryptocurrency exchange, explained how negotiations reached a standstill with the U.S. Securities and Exchange Commission (SEC). In a recent interview with the Wall Street Journal, Armstrong detailed the changes in how the SEC approached securities regulation and how the exchange has tried to work with regulators since day one. Coinbase CEO Brian Armstrong on SEC Enforcement Actions: ‘Something Shifted About a Year Ago’ Brian Armstrong, the CEO of Coinbase, one of the largest U.S.-based cryptocurrency exchanges, explained the company’s journey before reaching a standstill in negotiations with the U.S. Securities and Exchange Commission (SEC). In a recent interview with the Wall Street Journal (WSJ), Armstrong detailed the changes in the stance of the SEC regarding cryptocurrency enforcement and how the exchange finally came to face the government in court. According to Armstrong, before the exchange was listed on Nasdaq in April 2021, the SEC reviewed its business model and greenlighted its application. Armstrong declared: We go back to 2021, we wanted to become a public company, we described everything about our business, the assets that we list on our platform, how we do staking. The SEC at that point allowed us to become a public company. However, things started to change. One of the first actions that Coinbase executed due to regulator feedback was the delisting of xrp from the exchange. Armstrong stated that, while the court case against Ripple is still pending, they wanted to collaborate with regulators and work with them. About a year ago, “a totally different tone started to happen,” per Armstrong’s statements. He told the WSJ that: We kind of got this information from the SEC that, well actually everything other than Bitcoin is a security. And we kind of said to ourselves well, that’s not our understanding of the law. Possible Consequences of the SEC’s Actions Armstrong commented that the company tried to work with the SEC, having more than 30 meetings with the organization during the last 12 months. While the SEC asked Coinbase “every question under the sun,” the exchange did not get regulatory clarity about how it could operate. Armstrong stressed that the SEC’s strict and rigid posture is behind the current legal actions against the exchange, which Armstrong and many others believe are making crypto companies leave the U.S. On this, he stated: The only sort of high-level statements they’ve made is that everything other than bitcoin is a security, which that’s not what it says in the law. That would also kind of mean the end of the crypto industry in the U.S. What do you think about the statements of Coinbase’s CEO? Tell us in the comment section below. View the full article