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The U.S. Securities and Exchange Commission (SEC) is reportedly investigating Terraform Labs and the collapse of algorithmic stablecoin terrausd (UST). “SEC enforcement attorneys are investigating whether Terraform Labs broke securities and investment product rules.” SEC Launches Investigation of Terraform Labs and UST The U.S. SEC is investigating Terraform Labs and its algorithmic stablecoin terrausd (UST), Bloomberg reported Thursday, citing people familiar with the matter. UST lost its peg to the U.S. dollar in early May. The stablecoin quickly lost its value and collapsed alongside cryptocurrency terra (LUNA). Both coins were created by Terraform Labs CEO Do Kwon, who has since launched LUNA 2.0. The SEC is investigating whether the marketing of UST before it crashed violated federal investor protection regulations, the publication conveyed. Specifically, SEC enforcement attorneys are investigating whether Terraform Labs broke securities and investment product rules. The implosion of the two cryptocurrencies prompted lawmakers in various countries to look into regulating stablecoins. In the U.S., Treasury Secretary Janet Yellen said the regulation of stablecoins is urgent. SEC Chairman Gary Gensler subsequently said that a lot of crypto tokens will fail. Kwon is already facing scrutiny from the SEC over the Mirror Protocol. In a ruling Wednesday, Terraform Labs and CEO Kwon were ordered to comply with the SEC’s subpoenas filed in February. Kwon’s appeal has been rejected by the court. Regarding the investigation by the SEC, the Singapore-based Terraform Labs told the news outlet that it was not aware of an SEC investigation into UST. “We are not aware of any SEC probes into Terrausd at this time – we’ve received no such communication from the SEC and are aware of no new investigation outside of that involving Mirror Protocol,” Kwon said. Legal experts do not expect Kwon to face criminal charges in the U.S. They said it’s more likely for him to face civil charges and regulatory penalties. In South Korea, where Kwon is from, the government has launched an investigation into the collapse of terra and terrausd. A class-action lawsuit has also been filed against Terraform Labs, Kwon, and another co-founder. Furthermore, Seoul police are investigating whether Terraform Labs staff embezzled the company’s bitcoin. Terraform Labs used to have a subsidiary in South Korea. However, Kwon dissolved it days before the collapse of UST and LUNA. What do you think about the SEC investigating the collapse of UST? Let us know in the comments section below. View the full article

The host of Mad Money, Jim Cramer, has some advice for cryptocurrency investors. “I would never discourage you from buying crypto,” he said, adding that he himself owns ethereum. Jim Cramer’s Advice on Crypto Investing Jim Cramer, the host of Mad Money, gave some advice regarding cryptocurrency investing on CNBC Make It Wednesday. Cramer is a former hedge fund manager who co-founded Thestreet.com, a financial news and literacy website. “I think crypto should be part of a person’s diversified portfolio,” he began, elaborating: I can’t tell you not to own crypto. I own crypto. I own ethereum. He explained that he bought ether (ETH) because he wanted to buy a non-fungible token (NFT) for a charity. “But, they wouldn’t let me do dollars,” he noted. “I had to buy it in ethereum, so I researched it, and it’s got some qualities I like: scarcity value, not as hot — so to speak — as bitcoin (BTC). So, I bought it.” While noting that crypto is speculative, he said it is okay to invest in speculative assets. However, he stressed, “You must admit that it’s speculative,” emphasizing: “Don’t put it in the Procter & Gamble class. It’s not Coca-Cola. It’s not Apple.” He further noted that ever since crypto came along, he has been recommending putting 5% of portfolios in crypto and 5% in gold, instead of putting 10% in gold. While he admitted that he has no idea what the value of crypto will be, he acknowledged that many people have made a fortune with crypto. “You have every right to try to make money in crypto,” he said, adding: I would prefer that you would do it in ethereum or bitcoin, which have the largest followings … I would be careful. Cramer further warned that investors should not borrow money to buy crypto. “Borrow for your house, borrow for your car — but don’t borrow for crypto,” the Mad Money host emphasized, concluding: I would never discourage you from buying crypto because of all the fortunes that have been made there, and how it could make a whole new group of people fortunes … I’d like that to be you. What do you think about Jim Cramer’s comments? Let us know in the comments section below. View the full article

The San Diego-based cryptocurrency firm Edge has announced the launch of a confidential crypto Mastercard that doesn’t collect KYC data and doesn’t charge transaction fees. Edge’s website notes that there’s “no name or address associated with [the] Edge Mastercard” giving privacy advocates peace of mind. Edge Reveals Privacy-Centric Crypto Mastercard The digital currency firm Edge has announced the launch of the Edge Mastercard, a loadable crypto debit card that doesn’t collect KYC data. Edge revealed the Mastercard on Twitter and told the company’s followers: “Zero fees. Instant funding — With Edge Mastercard everyone can now spend BTC, DOGE, DASH, LTC, [and] BCH instantly, with zero personal information required.” Blockspace.io founder Gabe Higgins gave Edge props for the new privacy-centric crypto Mastercard. “Kudos to Edge, sticking with their original vision of providing an easy way to secure [and] use bitcoin without compromising on privacy,” Higgins tweeted on Wednesday. Edge’s card web page explains that the crypto Mastercard is not only private but it also complies with today’s financial laws. “There is no name or address associated with your Edge Mastercard, making for completely private transactions when your card is used,” Edge’s site details. The web page further states: We protect your privacy while complying with all requirements for issuers, card associations, regulations, local, federal and international laws. Edge Co-Founder Paul Puey Is Proud to Announce a Mastercard ‘With No Personal Info Required’ While there are no usage fees tied to the Edge Mastercard, the physical version of the card costs $20. The card is accepted anywhere Mastercard is supported and there’s a maximum threshold of $1,000 per day in terms of load limits. Edge co-founder Paul Puey explained on Wednesday that the executive is pleased to offer a privacy-centric crypto Mastercard. “Proud to announce the Edge Mastercard with no personal info required to activate or use,” Puey wrote. “Spend confidentially at any Mastercard accepting U.S. merchant.” Edge, formally Airbitz Inc., was founded in 2014 by Paul Puey, Damian Cutillo, Scott Morgan, Tim Horton, and William Swanson. In addition to the new confidential Mastercard, Edge recently adopted the Bitpay Payment Protocol, a protocol that ensures accurate cryptocurrency payments. What do you think about Edge launching a privacy-centric crypto Mastercard? Let us know what you think about this subject in the comments section below. View the full article

PRESS RELEASE. On June 9, 2022 at 14:30 UTC, the FIAT currency pairs of MV(ERC20)/USD and MV(ERC20)/EUR will be listed on Kraken, a leading crypto exchange. Genso believes that by listing MV on Kraken, Genso will be able to increase the reach of our Metaverse to more users, and therefore stimulate the GensoKishi Online Economy. What is Kraken? Kraken is a US based cryptocurrency exchange, founded in 2011. The exchange is known to be the first for providing crypto price information to Bloomberg Terminal, a computer software system by the financial data vendor Bloomberg L.P.. It is also the first crypto exchange to provide BitCoin leveraging as a service, and therefore trusted by millions of users worldwide. Blog： https://blog.kraken.com/ Twitter： https://twitter.com/krakenfx About GensoKishi Online GensoKishi Online Metaworld is a GameFi and metaverse incarnation of the award-winning Nintendo Switch/PS4 game “Elemental Knights”. The iconic game has a 14 year history and has accumulated a total of 8 million downloads worldwide. It already has a 3D MMORPG game with active users, with a fully-functioning 3D metaverse, that simultaneously connects users from around the world, be it smartphones, PCs, or video game consoles. The game recently announced its collaboration with gaming legend Yoshitaka Amano to design their first NFT collection. Since the release of the GensoKishi website and various social media channels on December 2, 2021, Genso have achieved a number of records to date: The number of registered community members reached 100,000 in 20 days after the public release of the website. (Currently at 270,000) A record breaking IDO on TrustPad, a decentralized multi-chain fundraising platform. Selling out in 20 seconds by FCFS. The launch pool on Bybit, one of the world’s largest virtual currency exchanges, reached a record 69,000 participants and over $22 billion in stakes for the project’s virtual currency token, called MV. The project was inducted into the Kickstarter Hall of Fame on the virtual currency exchange MEXC as the project that achieved 500% of its vote goal in just 10 minutes, and was listed on the exchange on March 7, 2012. ※Check out the Gensokishi White Paper：https://genso.game/pdf/WhitePaper_genso_EN.pdf ※Plans for the Closed Alpha Tests and onwards：https://genso.game/pdf/development_progress_EN.pdf ◆ Gensokishi Online -META WORLD- Community Official Site : https://genso.game/ Twitter : https://twitter.com/genso_meta Discord : https://discord.gg/gensometa Telegram（English） : https://t.me/gensometamain Telegram（Chinese text） : https://t.me/gensometazw Telegram（Japanese） : https://t.me/gensometajpn YouTube：https://www.youtube.com/channel/UCMi4wGMEWgC9VVps8d_NLDA Gensokishi Online will continue to provide cryptogame enthusiasts with updates on this project 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

The founder of financial tech company Block Inc., Jack Dorsey announced he is collaborating with the rapper Jay-Z by launching a Bitcoin Academy in Brooklyn. The Bitcoin Academy’s mission aims to empower and provide education to the region. The project’s website further details that residents of Marcy House, located in Brooklyn, New York will be eligible for free courses and other benefits like internet data plans. Marcy House Residents Welcome to Attend The Bitcoin Academy — ‘Making Powerful Tools More Available’ Jack Dorsey, the former CEO of and co-founder of Twitter and the founder of Block Inc., announced on Thursday that he has partnered with the popular rap artist Jay-Z (Shawn Carter) in order to launch a Bitcoin Academy. “Mr. [Shawn Carter] and I are funding The Bitcoin Academy, a program for residents of Marcy Houses in Brooklyn New York where Jay grew up,” Dorsey tweeted. The Block founder further explained that the project was also bolstered by Crypto Blockchain Plug (Najah J. Roberts) and Black Bitcoin Billionaire (Lamar Wilson). Marcy House or Marcy Projects is a public housing complex located in Brooklyn, New York. Jay-Z lived there on Marcy Avenue when he was a kid, and he attended Eli Whitney High School. “Bitcoin is becoming a critical tool for many in Africa and Central and South America,” Dorsey continued in his Twitter thread. “We believe the same potential exists within communities in the U.S. Our goal is to prove that making powerful tools more available to people enables them to build greater independence.” The Block executive added: Education is where we start. This isn’t just about bitcoin…it’s about long-term thinking, local economies, and self-confidence. Courses are free to all Marcy residents, including kids. And to make it even easier we’re providing devices and data plans for all who need it. Jay-Z Says ‘Hopefully The Bitcoin Academy in Brooklyn Is the First of Many’ The Bitcoin Academy website notes that “education is power,” and classes will be online or in-person starting June 22 through September 7. “All Marcy residents are welcome,” the website details. “In-person classes will take place two evenings per week and dinner will be served.” If needed Marcy residents will get access to MiFi devices, a year-long data plan, and they can keep the devices. Bitcoin Academy is also focusing on the youth and a “Crypto Kids Camp” will happen on Saturday for children ages 5-17. The website also reveals that Jay-Z’s non-profit the Shawn Carter Foundation has pitched in as well. “Shout out to Jack,” Jay-Z tweeted on Thursday. “Bitcoin Academy, starting in Marcy, a place that taught me so much, is hopefully the first of many. The simple goal is to provide people tools to build independence for themselves and then the community around them.” What do you think about Jack Dorsey and Jay-Z starting a Bitcoin Academy in Brooklyn? Let us know what you think about this subject in the comments section below. View the full article

Solana Ventures has revealed the launch of a $100 million fund dedicated to Web3 startups in South Korea. According to Solana Labs’ general manager Johnny Lee, the capital will be dedicated to non-fungible tokens (NFTs), decentralized finance (defi), and game finance (gamefi) development. Solana Ventures Reveals $100 Million Web3 Fund Dedicated to Finding Talent and Innovative Startups in South Korea Proponents behind the smart contract protocol Solana plan to expand into South Korea by offering a Web3 fund worth $100 million to startups and developers creating Web3 projects. Solana Labs’ general manager Johnny Lee told Techcrunch reporter Jacquelyn Melinek that the fund will focus on Web3 applications that revolve around NFTs, defi, blockchain gaming concepts, and gamefi. Austin Federa, the head of communications at Solana Labs, explained to Melinek that the fund stems from the Solana community treasury and Solana Ventures’ pool of capital. Solana Ventures, the investment arm of Solana Labs, explained that gaming and non-fungible tokens are popular in South Korea. Lee detailed that a lion’s share of NFT and gaming activities on the Solana network derive from the East Asian country. “A big portion of Korea’s gaming industry is moving into web3,” Lee detailed on Wednesday. “We want to be flexible; there’s a wide range of project sizes, team sizes, so some of [our investments] will be venture-sized checks,” the Solana Labs general manager remarked. Solana’s native token solana (SOL) is in the top ten crypto market positions in ninth place in terms of capitalization. SOL’s $13.22 billion market capitalization represents 1.03% of the crypto economy’s $1.290 trillion market valuation. SOL, however, is down 39.2% over the last month and 19.6% of the fall was during the past two weeks. In terms of total value locked (TVL) in defi, Solana is ranked fifth with $3.76 billion. Solana’s TVL in defi has lost 33.96% in the past month, according to defillama.com statistics. Additionally, Solana suffered another network outage as the network halted block production on June 1. In December 2021, Solana Ventures, in a partnership with Griffin Gaming and Forte, launched a $150 million fund for Web3 products. Amid the announcement concerning Solana Ventures’ latest fund focused on South Korea and Web3 development, Lee said he expects Solana to showcase “high-quality and fun games” during the last two quarters of 2022. What do you think about the latest Web3 fund revealed by Solana Ventures? Let us know what you think about this subject in the comments section below. View the full article

NFTICALLY, a Web3 E-Commerce SaaS platform that powers over 9,000 NFT Marketplaces & Storefronts globally, announces the world’s first e-commerce Metaverse ecosystem – COMEARTH. COMEARTH will allow brands to own virtual land and open storefronts, experience centers, or any virtual real estate imaginable and beyond to serve consumers in the Metaverse. Backed by a plethora of marquee investors, including Polygon co-founders Sandeep Nailwal and Jaynti Kanani and Coinbase CPO Surojit Chatterjee, COMEARTH is a virtual planet spanning eight continents that aims to solve key issues in modern commerce including unsustainability, monopolization, intangibility, and security. Businesses and individuals can purchase virtual land as non-fungible tokens (NFTs) in the metaverse, governed by smart contracts deployed on the Polygon blockchain. Equipped with their digital land, citizens of COMEARTH can build immersive e-commerce experiences in virtual reality (VR), accessible by mobile, laptops, and VR devices. Global brands Polygon, CEAT, Blockchain Council, SporteNFT, among others have come onboard COMEARTH. The Blockchain Council is the first to announce plans to build in COMEARTH. The group will launch it’s own “Metaversity,” delivering Web3 education via live and recorded open training sessions, events, and seminars hosted in the virtual world. With their global presence of approximately 100,000 educators, learners, and enthusiasts, COMEARTH is poised to present a one-of-its-kind interactive global education hub. COMEARTH has also attracted interest from Digital Fashion Week NYC, which will launch an immersive virtual store to showcase digital clothing from various luxury brands. Landowners will be able to set up their metaverse ventures in just a few minutes, armed with a comprehensive set of DIY tools and extensive ready-to-use templates. These, along with features like fiat onramp and APIs connecting with major Web2 commerce platforms, help anyone sell effortlessly via Salesforce, Shopify, OpenKart, Magenta, WooCommerce, etc. A 2D-to-3D converter transforms Web2 e-commerce product images into metaverse compatible 3D interactive models at the click of a button. This allows existing Web2 businesses to easily migrate their product listings over to COMEARTH and make them purchasable via an intrinsically linked to an authenticating NFT. More details can be found in the COMEARTH whitepaper here COMEARTH is designed to enable effective E-Commerce in the Metaverse. Businesses can gain valuable analytic insights about the traffic their land receives, combined with access to lead generation tools. The platform will support Live Streaming and 360-degree product display making it a fit for product launch events. The flexibility of setting up showrooms to gauge product interest would allow businesses to run low-cost marketing campaigns and collect consumer data (with their permission) from interested parties. Startups can leverage these tools to iterate on their MVPs with a quick go-to-market strategy. These factors amongst others promise to contribute significantly to the top line of companies operating their storefronts on the metaverse. COMEARTH aims to be the Amazon.com of the future in Web3 space – It shall be the one place people worldwide gather whenever they want to engage with brands and creators. The goal of COMEARTH is to utilize the power and flexibility provided by the Metaverse and combine it with the security and transparency of Blockchains to create a world that shall power sustainable global e-commerce in the coming decades. Conceptualised around the needs of the consumer, COMEARTH has positioned itself to provide hyper-personalized shopping experience to its consumers that extends beyond user profiles observed with the incumbents. Aggregating global brands and creators on a single platform has been the bottleneck of providing world-class user experience to consumers which COMEARTH steps in to solve. Toshendra Sharma, Founder & CEO at NFTICALLY said: “COMEARTH aims to become the Amazon.com of Web3. Brands and businesses are starting to realize the power of decentralized technology and its impact on consumer engagement and retention. COMEARTH provides an intuitive platform for these players to get involved and offer immersive experiences for consumers and fans.” Brian Trunzo, Metaverse Lead at Polygon Studios, said, “Polygon Studios is pleased to welcome COMEARTH as a valued partner into the ecosystem. Their easy-to-use and powerful suite of tooling brings brands and rights holders closer to their audiences — a key aspect of facilitating broader Web3 adoption”. According to new research, two in five brands plan to invest up to half of their budget into a metaverse, VR, or AR strategy in the next two years. Recent rounds of capital allocation at big tech firms are seen as leading indicators of the promise metaverse brings to the human race. With the ability to scale efficiently and sustainably via Polygon, COMEARTH is primed to fill this need in the market in the coming years. About NFTICALLY NFTICALLY is a Web3 E-Commerce SaaS Platform that helps enterprises enable NFTs in their business through a white-label no-code storefront along with APIs, Infrastructure & Tools (Shopify for NFTs & more). It enables celebrities, influencers, gamers, clubs & enterprises to commercialize their digital assets under their domain name or storefront in a white-label manner without any technical knowledge. With NFTICALLY, celebrities & enterprises can control the various aspects of their NFT storefronts like blockchains, wallets, cryptocurrencies, fiat on-ramp, airdrop, analytics, UX, etc. NFTICAlly supports various blockchains, wallets & cryptocurrencies to ease the business overhead in integrating these complex systems in their own NFT marketplace. COMEARTH Website | Whitepaper | NFTICALLY Website | Discord | Twitter | Reddit | Facebook | Instagram | Telegram | LinkedIn This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

Despite the crypto market trading lower today, Tezos and LINK both rose to one-month highs on Thursday. XTZ was up by 8.5% during today’s session, whilst LINK rose by nearly 9% in the day. Overall, the global crypto market cap is down 0.55% as of writing. Chainlink (LINK) LINK continued its recent run on Thursday, as prices rose by almost 9% during today’s trading session. Following a low of $8.49 on Wednesday, LINK/USD rallied to an intraday peak of $9.46 on Thursday, cementing a four-week high. Today’s peak saw prices rise to their highest point since May 10, as LINK made its way down from the $11 level. However, as a result of recent runs, LINK now looks set to surge even further, eventually recapturing the $10 point in the process. After a false breakout yesterday, Thursday’s move also saw prices fully move beyond resistance at $8.80. As of writing, the 14-day RSI is two points below a ceiling of 64, which could be a signal to bulls to close earlier positions, securing gains in the process. Tezos (XTZ) In addition to LINK, XTZ also rose to a four-week high on Thursday, with prices climbing by as much as 9%. As of writing, XTZ/USD hit an intraday high of $2.23 in today’s session, which is its highest level since May 9. Looking at the chart, the move took prices marginally above a resistance level of $2.20, but slipped up as the session progressed. Although prices continue to remain close to today’s highs, the fact that the Relative Strength Index has hit a ceiling has worried previous bulls. Ultimately, what is happening with XTZ is what could happen with LINK once the RSI hits its own resistance. Tezos bulls will likely still be hoping to overcome the current price ceiling, with traders targeting the $2.50 level. Could we see XTZ rally to $2.50 in upcoming days? Let us know your thoughts in the comments. View the full article

U.S. Treasury secretary Janet Yellen doesn’t think inflationary pressures stem from the stimulus policies enacted after the Covid-19 outbreak. While speaking to lawmakers on Wednesday, during the House Ways and Means Committee, Republicans criticized Yellen for not knowing about the risks of inflation. A U.S. senator from Wyoming questioned the Treasury secretary’s “pronouncements and decisions” concerning the record gas prices and rising inflation. Yellen Claims Stimulus ‘Produced Excellent Rewards for Americans’ — Republican Senator Says American Rescue Plan ‘Overheated the Economy’ On Wednesday, Treasury secretary Janet Yellen downplayed the theory that the stimulus from the American Rescue Plan and other monetary expansion policies contributed significantly to the current rising inflation. “The success of the policy adopted is that we have an economy with the strongest labor market, arguably in the entire post-war period,” Yellen remarked during her House Ways and Means Committee statements. She added that the spending “produced excellent rewards for Americans and, at most, it contributed modestly to inflation.” Americans are more concerned these days with the hot inflation plaguing the U.S. economy than banning “assault weapons,” according to a poll by Quinnipiac University on June 3-6. Despite the Treasury secretary’s commentary, Republicans such as Wyoming senator John Barrasso do not seem convinced with Yellen’s opinion. “Is there a risk of inflation? You responded, ‘I think there’s a small risk,’” Barrasso said to Yellen on Wednesday. Barrasso added: Given that, it makes me wonder why Americans should put any confidence in your pronouncements and decisions and recommendations today. John Thune, a Republican senator from South Dakota, believes the trillions spent toward the stimulus plans created the inflation issues America is facing. “I think that there’s no question that the $2 trillion bill last year overheated the economy, and it’s why we have the mess that we have today,” Thune explained during the House Ways and Means Committee. The Republican senator from Illinois, Darin LaHood, said he was confused by the Biden administration’s lack of remedies. LaHood stated: As I listened to you here today, and I look at what’s not been done by this administration, it’s really perplexing in a lot of ways on whether the administration is tone deaf or unaware or becoming aware right now. Biden Declares Americans ‘Feel Financially Comfortable,’ While His Administration Is Accused of Fueling Power-Hungry Politicians Just recently, American president Joe Biden told the U.S. public that “families are carrying less debt” and “their average savings are up” since he became president. However, U.S. Bureau of Economic Analysis (BEA) statistics show that American savings have plummeted to levels not seen since 2008. Biden’s speech further noted that his administration feels more Americans “feel financially comfortable” since 2013. The American television host Tucker Carlson opined after Yellen’s first day of testimony on Tuesday, that the U.S. Treasury secretary’s “reckless, loose money policies caused inflation.” The Fox News anchor said that Yellen’s monetary policy is typical of bureaucrats seeking more power. “Within a year, Yellen had all but abandoned the traditional constraints of monetary policy,” Carlson said. “Instead, there she was yammering on in public about things like racial equity and environmental justice. Now, those are issues that, unlike economics, cannot be quantified or even specifically defined. They are therefore perfect vehicles for power-hungry politicians hoping to become more powerful.” Yellen stressed during her testimony that the White House is focused on curbing inflation back to pre-pandemic levels, and that addressing inflationary pressure is “the administration’s highest priority.” An official from the Treasury backed Yellen’s comments by noting “the unparalleled strength of America’s recovery enables our country to address global challenges like inflation and Russia’s attack on Ukraine from a position of strength.” What do you think about Janet Yellen’s commentary on Wednesday at her House Ways and Means Committee testimony? Let us know what you think about this subject in the comments section below. View the full article

BTC was fighting to stay above $30,000 on Thursday, as markets prepare for the release of U.S. inflation data on Friday. Crypto prices mainly consolidated in today’s session, whilst ETH marginally slipped, falling below $1,800. Bitcoin Bitcoin was attempting to stay above $30,000 on Thursday, as traders began to anticipate the latest U.S. inflation report. On Friday, the latest consumer price index (CPI) is expected to show inflation at 8.3%, which is still close to record highs. Prior to the release of this, BTC/USD fell marginally lower on Thursday, hitting an intraday bottom of $30,015.98. This move comes after bulls recaptured the $30,000 mark during yesterday’s session, however they have failed to extend these gains. Some believe this may be a result of the upcoming CPI release, which has been a key economic indicator in recent months. In addition to this, the 14-day RSI remains near its 45.50 floor, and should this continue to hold steady, BTC will likely stay above $30,000. Ethereum Thursday saw ETH also decline, as prices once again dropped below $1,800 due to the current uncertainty in markets. Less than a day after trading at a peak of $1,862.91, ETH/USD slipped to an intraday low of $1,777.97 earlier today. Prices have since climbed, moving away from the $1,750 support level, and as of writing are trading close to $1,795.45. Ultimately the theme of consolidation is still present in ethereum, and like with BTC, this is likely due to upcoming economic releases. Whilst crypto prices were not so exposed to such fundamentals in the past, due to the current economic downturn globally, traders are moving away from high-risk assets, and are using data like inflation to gauge the timing of potential investments. Will we see ETH stay above $1,800 following tomorrow’s inflation report? Leave your thoughts in the comments below. View the full article

The World Bank has warned of a possible global recession. “For many countries, recession will be hard to avoid,” said World Bank President David Malpass. “This is the sharpest slowdown in 80 years.” World Bank on Global Recession, Stagflation The World Bank warned about the rising risk of stagflation and global recession Tuesday. World Bank President David Malpass said: The war in Ukraine, lockdowns in China, supply-chain disruptions, and the risk of stagflation are hammering growth. For many countries, recession will be hard to avoid. “Markets look forward, so it is urgent to encourage production and avoid trade restrictions. Changes in fiscal, monetary, climate and debt policy are needed to counter capital misallocation and inequality,” he explained. The World Bank president clarified on Bloomberg Tuesday that we are not in a global recession yet. However, “The downside risk is that it could be a global recession,” he opined. “One of the key variables is whether supply comes back online in order to add growth and slow down the inflation rate,” Malpass continued. He emphasized: This is the sharpest slowdown in 80 years. “That’s from the 2021 rate which was high because of the recovery from Covid to what we are looking at now, 2.9%, in 2022,” he detailed. “That’s a very sharp slowdown and it’s really hitting the poorer countries hard.” In a report issued Tuesday, the Bank described: “Global growth is expected to slump from 5.7% in 2021 to 2.9% in 2022 — significantly lower than 4.1% that was anticipated in January.” The Bank also warned about stagflation, stating that the danger of stagflation is considerable. In addition, inflation and slow growth may persist for years, the World Bank noted. Commenting on the Bank’s stagflation warning, Malpass stressed: It’s global but it particularly hits the developing countries. “There’s a lot of inequality in the world so the advanced economies and particularly the people at the top in the advanced economies have done very well over the last decade,” he noted. Malpass elaborated: “The reason that this is a prolonged risk for the world is that we are coming off of a very exceptionally low period of interest rates. Last year, I called it uncharted territory on both fiscal policy … and monetary policy.” What do you think about the comments by World Bank President Malpass? Let us know in the comments section below. View the full article

Citadel Securities and Virtu Financial are reportedly building a cryptocurrency trading platform with help from Fidelity Investments and Charles Schwab. “We know there is significant interest in this cryptocurrency space and we will look to invest in firms and technologies working to offer access with a strong regulatory focus and in a secure environment,” said Schwab. Citadel, Virtu, Fidelity, Schwab Building Crypto Trading Platform Global market maker Citadel Securities and Virtu Financial are building a cryptocurrency trading platform with help from retail brokerage giants Fidelity Investments and Charles Schwab, Bloomberg reported Tuesday, citing people familiar with the matter. The crypto product is still in its early development, the people said, adding that it could be available late this year or early next year. A spokesperson for Schwab, Mayura Hooper, said the brokerage giant “has made a minority, passive strategic investment in a new digital asset venture.” She added: We know there is significant interest in this cryptocurrency space and we will look to invest in firms and technologies working to offer access with a strong regulatory focus and in a secure environment. The spokesperson further revealed that her company currently does not have plans to offer direct crypto trading. However, she noted that “when there is further regulatory clarity,” the brokerage firm “will consider introducing direct access to cryptocurrencies.” Citadel Securities founder Ken Griffin said in March that his company plans to make markets in crypto “over the months to come.” A spokeswoman for Fidelity, Susan Coburn, told the publication that the financial services firm “supports efforts within the industry that provide optionality to source liquidity for our clients.” Fidelity said in April that it will allow bitcoin in 401(k) accounts. This announcement upset the U.S. Labor Department and several lawmakers. What do you think about Citadel building a crypto trading platform with the help of Fidelity and Schwab? Let us know in the comments section below. View the full article

Paypal has begun letting users transfer cryptocurrencies between its platform and other wallets and exchanges. “This feature has been consistently ranked by users as one of the most requested enhancements since we began offering the purchase of crypto on our platform,” Paypal revealed. Paypal Now Supports External Wallet Transfers Payments giant Paypal finally allows users to transfer cryptocurrencies in and out of its platform. The company announced Tuesday: We are thrilled to announce that starting today, Paypal supports the native transfer of cryptocurrencies between Paypal and other wallets and exchanges. “This feature has been consistently ranked by users as one of the most requested enhancements since we began offering the purchase of crypto on our platform,” the announcement adds. The new feature is now available to select U.S. users, Paypal said, adding that it will be rolled out to all eligible U.S. users in the coming weeks. Users can transfer supported cryptocurrencies to Paypal and move crypto away from the platform “to external crypto addresses including exchanges and hardware wallets.” They can also send their coins to their family and friends on Paypal “with no fees or network charges to send or receive,” the company detailed. Currently, Paypal supports four cryptocurrencies: bitcoin (BTC), ethereum (ETH), bitcoin cash (BCH), and litecoin (LTC). Paypal customers can also use their cryptocurrencies to pay for goods and services at millions of merchants using Checkout with Crypto, a service launched in March last year. Paypal Granted Full Bitlicense Paypal also announced Tuesday that it has been granted a full Bitlicense by the New York Department of Financial Services (NYDFS). The company became the first to obtain a conditional Bitlicense in October 2020. “We are proud to become the first company to receive a conditional virtual currency license from the New York State Department of Financial Services,” CEO Dan Schulman said at the time. The company said Tuesday that it has become the “first company to convert a conditional Bitlicense into a full Bitlicense.” What do you think about Paypal allowing users to transfer cryptocurrencies to and from its platform? Let us know in the comments section below. View the full article

On Tuesday, the financial technology company Checkout.com announced that it will allow merchant settlements using the stablecoin USDC via a partnership with the crypto firm Fireblocks. Checkout.com further detailed that in a beta test with select clients, the company settled $300 million in transaction volume leveraging the USDC stablecoin. Checkout.com Leverages the Stablecoin USDC Checkout.com has announced it will be utilizing USDC for merchant settlements. The company, founded in 2009 by Guillaume Pousaz, said it will allow businesses to make payments in, and accept, Circle’s stablecoin usd coin (USDC). Checkout.com’s new stablecoin settlement service is through a partnership with the firm Fireblocks, a crypto custody service provider that just launched an institutional suite of Web3 services. On the same day as the Checkout.com announcement, Coins.ph partnered with Fireblocks and revealed the fiat and crypto wallet service provider will integrate Fireblocks’ custody management into Coins.ph’s platform. Ran Goldi, Fireblocks’ vice president of payments, explained that Checkout.com’s new USDC payment service will allow much faster settlement times and during non-banking hours. “Traditionally, merchant payouts are limited to 9-5 on weekdays excluding public holidays and are further delayed through batch processing over several business days,” Goldi said in a statement on Tuesday. “Checkout.com’s weekend settlement means that merchants are no longer restricted by arbitrary settlement times.” The announcement further notes that select Checkout.com customers already tested the new USDC feature in a beta version of the service. “During the beta, Checkout.com successfully tested, refined and optimized ways for customers’ online fiat transactions to be paid to merchants through USDC,” the company’s announcement details. Jess Houlgrave, the head of crypto strategy at Checkout.com, believes stablecoins offer a variety of benefits. “Stablecoins started as a fiat-denominated asset used by crypto traders to easily move in and out of more volatile crypto assets, but we believe they will also play a fundamental role in improving the underlying payment landscape,” Houlgrave explained. “The fact that we’re the first full-stack payments provider to successfully pilot an end-to-end solution with weekend merchant-side settlement capability is testament to our commitment to crypto.” What do you think about Checkout.com using USDC for settlement services? Let us know what you think about this subject in the comments section below. View the full article

PRESS RELEASE. New London-based NFT marketplace platform, myNFT, has announced its upcoming launch with the news that it has received Series A funding from some of the most prominent investors in the blockchain industry. myNFT believes that the current NFT industry is filled with barriers, blocking this revolutionary technology from being accessible to everyone. Their core mission is to change this in ways that no other platform has done before – lowering costs, and supporting multi-chain payment methods, including fiat and many more features. The platform is built on the Moonbeam parachain which is a part of the Polkadot Network. Polkadot was founded by Ethereum co-founder Gavin Wood and is known as ‘the internet of blockchains’ as it connects blockchains together, allowing value and data to be sent across previously incompatible networks. Thanks to the natively interoperable and multi-chain architecture of Polkadot, myNFT customers will eventually be able to create, trade and migrate NFTs between any blockchain in any currency and at a low cost. A gamechanger for the NFT industry, myNFT are launching with a viable fiat onramp, where users can buy and sell NFTs with Pounds (£), Dollars ($) and other non-cryptocurrencies. This is in line with myNFT’s overall mission of making this revolutionary technology accessible to all. Currently one of the main bottlenecks stopping mainstream adoption of NFT technology is the high gas fees associated with the Ethereum network. Ethereum gas costs have skyrocketed, excluding many new potential buyers from the market. myNFT’s tech stack is proof of stake based – much more scalable and just as secure as Ethereum. Thus buyers and sellers will have much lower gas costs and faster transaction speeds which means greater value and liquidity for the NFTs created. People can auction their NFTs on the myNFT platform using their new, patent-pending bid-to-earn GBM auction system. In a GBM auction, there are only two outcomes, the bidder either makes money when they are outbid or they win the item in the auction! This is an entirely novel way for people to discover the value of their NFTs and makes auctions a lot more fun for everyone involved. When creating the myNFT platform, the experience of its co-founders played a big role. Three university friends, Hugo McDonaugh, Edouard Bessire, and Guillaume Gonnaud, have been working in the NFT space since the very early days of the industry. Previously, they successfully launched the Cryptograph platform in 2020, which enabled Hollywood celebrities and artists to create their own NFTs and give a portion of the proceeds to a charity of their choice. During this time the co-founders encountered many issues affecting the industry such as severe gas price inflation, clunky user experiences, poor cryptocurrency exchanges, and more. The team has sought to use these experiences in order to create a better platform in the form of myNFT. The successful completion of their Series A funding round, with over $7M raised, paves the way for creating a more accessible NFT industry. In this regard, Hugo McDonaugh, co-founder and CEO of myNFT, states: Securing Series A funding is such a vital step for a fast-developing start-up like ours, and we’re delighted to receive the support from some of the smartest people in web3, and beyond. It gives us the freedom to focus on growing myNFT and delivering transformative features to the NFT industry to deliver on our core mission to make NFTs accessible to all. Thanks to blockchain technology and NFTs, we are witnessing the beginnings of a new internet: an internet based on value, ownership, and freedom. With this vote of confidence, myNFT will ensure no one gets abandoned from accessing this truly revolutionary technology. The Series A was led by Scytale Ventures, a leading investor in the blockchain industry. Other investors include SevenX Ventures, Future Perfect Ventures, Signum Growth Investments, Bruno Skvorc (Founder of RMRK), George McDonaugh (Co-founder of KR1) and a variety of other family offices and angel investors. The team has also received a grant from the Moonbeam Foundation for their work on important NFT infrastructure for Web3. myNFT is due to launch their first version in June 2022. The next stage in their roadmap after launch is to release their next generation NFT minting infrastructure alongside some exciting new developments that the NFT industry has yet to see. You can already register at www.mynft.com to be one of the first to use the myNFT marketplace when it launches and also enter the launch competition for a chance to win some fantastic NFT prizes. To find out more about myNFT or to speak to CEO, Hugo McDonaugh or Head of Growth, Sina Sadrzadeh, please contact either Lydia Drukarz (+447977 454180) or Will Jones (+447505 827569) at Wavelength PR or email: lydia@wavelengthpr.com or willwavelengthpr@gmail.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

Circle, the issuer of the stablecoin usd coin (USDC), announced that the project is now supported on the Polygon network. The stablecoin with the second-largest market capitalization can now be withdrawn via a Circle Account and Circle APIs without the need for manual cross-chain bridge technology. Circle Reveals Polygon-Supported USDC Circle has revealed that usd coin (USDC) is now hosted on the Polygon network and the addition means USDC is now available via nine different blockchain networks. Polygon is a large crypto ecosystem with more than 19,000 decentralized applications (dapps) and 2.7 million monthly active wallets as of May 2022. The new Polygon USDC is a bridged version of USDC that is minted when a native Ethereum version of USDC is bridged. Circle will support the widely used Polygon USDC and the asset has been added to Circle Account and Circle APIs. Polygon-supported USDC can be used for trading, borrowing, lending, making and accepting payments, and making programmatic payouts. “For businesses that want fast and efficient access to Polygon USDC, the Circle Account abstracts away the costly and time-consuming process of bridging USDC from Ethereum to Polygon manually via the Polygon Bridge,” Circle explained on Tuesday. “Instead, businesses can now convert fiat currency to Polygon USDC in seconds with the Circle Account, and convert back to fiat currency the same way.” Polygon Network to Benefit USDC Users by Providing ‘Fast and Efficient Transactions’ At the time of writing, USDC is the second-largest stablecoin asset by market capitalization with $53.9 billion. USDC’s market cap increased by 10.8% during the last 30 days and during the past 24 hours, the stablecoin has seen $5.49 billion in global trade volume. USDC’s market valuation represents 4.14% of the entire crypto economy’s net value. Circle’s announcement details that users leveraging Polygon USDC will benefit from “fast and efficient transactions, typically at a fraction of the cost of sending USDC on the Ethereum network.” What do you think about the stablecoin USDC being supported by Polygon? Let us know what you think about this subject in the comments section below. View the full article

LINK remained close to a one-month high earlier in today’s session, as crypto markets shook off some of Tuesday’s volatile moves. Although price volatility remained, bulls returned to show force, with ADA continuing to climb higher this week. Chainlink (LINK) LINK was trading around a one-month high during today’s session, following a recent four-day bull run. The run commenced near a support level of $6.70, and took price above its recent resistance point of $8.80. As a result of this move, LINK/USD rose to a four-week high of $8.95 late on Tuesday, with prices peaking at $8.86 so far in today’s session. Looking at the chart, the move also comes as the 10- and 25-day moving averages crossed, which is the first time this has happened since March 20. In addition, the 14-day Relative Strength Index (RSI) is hovering around 56.21, which is its highest reading in over two months. So far, LINK bulls have relaxed following earlier highs, likely as bears re-entered at resistance. The question now is whether we will see a breakout this week. Cardano (ADA) Whilst LINK has risen for four straight sessions, ADA climbed for a fifth-consecutive day on Wednesday, as prices broke through resistance. ADA/USD rallied to an intraday peak of $0.6537 earlier today, which is its highest point since May 31. Today’s move saw prices push past the ceiling of $0.6460, hitting a nine-day high as a result of this surge. While bullish momentum is still present in ADA, traders will likely be looking to go from a one-week high, to a one-month peak, by eclipsing the $0.6897 point. One resistance has already been eclipsed, as the RSI moved beyond its ceiling at 54.50, and hit a two-month peak. A drive to the $0.6897 point could come as early as this week, and if it does, bears will likely be waiting to hold the line of resistance. Which token will break out from resistance first, LINK or ADA? Let us know your thoughts in the comments. View the full article

Binance US is now offering crypto staking services and the firm details that seven digital currencies are currently available with annual percentage yields (APYs) up to 18%. Customers can earn yields on proof-of-stake (PoS) cryptocurrencies that include binance coin, solana, avalanche, livepeer, graph, cosmos, and audius. Binance US Adds Staking Services On Twitter, Binance US explained the company is now joining the ranks of the variety of crypto exchanges that offer staking services. “Binance US has officially launched staking, empowering customers to do more with their money,” the company detailed on Tuesday. “Customers can now stake while generating an APY of up to 18%, the highest rate among U.S. crypto firms,” the exchange added. Currently, Binance US is offering staking services for seven different crypto assets, which include BNB, AUDIO, AVAX, SOL, ATOM, LPT, and GRT. Binance US shows that BNB currently offers an annual percentage yield (APY) of around 6.4% and LPT’s staking reward is 18%. When an individual on Twitter asked Binance US if they can “expect more options in the future?” the exchange replied: “Yes. More to come.” With Binance US getting into the game of staking services, the firm joins competitors like Crypto.com, Kraken, Gemini, Coinbase, FTX, Tradestation, and other trading platforms that offer staking services for customers. In addition to centralized exchanges, crypto users can also stake coins in a non-custodial fashion by leveraging decentralized finance (defi) applications and delegating coins directly to PoS network validators. Binance US is the American partner of the world’s largest crypto exchange by trade volume, Binance. The exchange, founded in 2017, ceased servicing Americans in 2019 and revealed the subsidiary Binance US shortly after. According to coingecko.com data, while Binance is the world’s largest by volume, Binance US is the 15th largest at the time of writing. Parent company Binance is reportedly facing scrutiny from the U.S. Securities and Exchange Commission (SEC), according to people familiar with the matter speaking with Bloomberg. The alleged probe is tied to whether or not the crypto asset binance coin (BNB) is an unregistered security. What do you think about Binance US offering staking services? Let us know what you think about this subject in the comments section below. View the full article

Bitcoin moved away from Tuesday’s lows during the hump-day session, as prices were once again above $30,000. Prices have been hovering above and below this level over the last few weeks, with no significant gains in the period. ETH was also marginally higher. Bitcoin The volatility in crypto markets was once again present during Wednesday’s session, as BTC moved marginally higher. Over the last few weeks, bitcoin has continued to hover above and below the $30,000 mark, with prices once again making this move today. Following a low of $29,445.88 on Tuesday, BTC/USD spiked to an intraday high of $31,489.68 earlier in today’s session. This move comes as bulls once again attempted to breach the $31,500 resistance point, however as on Monday, to no avail. As of writing, the world’s largest cryptocurrency is now trading at $30,218.01, which is still 2.5% higher than yesterday’s bottom. However, with bulls likely closing out earlier positions, today’s gains have gradually eased, with the likelihood of prices dropping below $30,000 still on the cards. Ethereum ETH, which has also been hovering below a key price point of its own, today rose beyond that level. The world’s second-largest crypto token fell to an intraday low of $1,729.41 on Tuesday, however hump-day has seen prices peak at $1,862.91. This surge, which sent ethereum back above $1,800, was nearly 4% higher than yesterday’s low, however it was not enough to keep bearish sentiment away. As of writing, and as the day progressed, ETH has fallen below $1,800 once again, as bulls likely secured earlier gains. Overall, ETH is currently trading at $1,792.54, with a renewed level of bearish sentiment looking to push prices towards support at $1,750. Will we see BTC/ETH continue to consolidate this week? Leave your thoughts in the comments below. View the full article

PRESS RELEASE. Zug, June 08, 2022 — As markets continue to tumble, Arrakis Finance, a yet relatively unknown & tokenless project, just reached a new milestone — a total value locked of $1 billion. DeFi TVL overall fell from $224B on April 1 to $109B on May 30, dipping by 51%. While nearly all major DeFi projects and platforms have suffered losses in TVL, Arrakis Finance has amassed $1 billion TVL and is closing in on capturing 1% of total DeFi TVL, overtaking the leading DeFi projects like dYdX and Aave V3. Arrakis, created by team members of the infrastructure protocol Gelato Network, is a web3’s liquidity layer, which at its core acts as a decentralized market-making platform enabling projects to create deep liquidity for their tokens. Arrakis vaults manage liquidity on behalf of LPs on concentrated AMMs such as Uniswap v3 in a capital efficient and fully autonomous fashion. These next generation AMMs act more like traditional order book exchanges rather than legacy AMMs such as Uniswap v2. This is why Arrakis emerged as a necessary abstraction layer where market makers can help LPs to manage their liquidity efficiently. Arrakis has grown by 88% over the last month, all without native liquidity mining incentives. Currently, Arrakis manages liquidity exclusively on Uniswap v3, where it accounts for around 16% of the entire TVL. Projects that have already adopted Arrakis vault for their liquidity management include Polygon, MakerDAO, Aave, Olympus, Synthetix, and many more. The long-term goal of Arrakis is to solve the industry-wide problem of liquidity fragmentation in web3 by creating a single liquidity layer that creates deep liquidity for token projects across all web3 protocols. Quotes from Arrakis: “Arrakis aims to become web3’s liquidity layer by creating a common platform where market makers and projects can collaborate on creating deep liquid markets for their tokens. Projects won’t have to deal with the intricacies of the underlying AMMs anymore, and their liquidity will be routed to the DEX & underlying blockchain where it’s most capital efficient.” — Ari Rodriguez, Co-founder at Arrakis Finance $SPICE will be the native governance token of Arrakis, acting similarly to the CRV token in the Curve ecosystem. Currently, 30 million $SPICE (3% of total supply) will be distributed to the Gelato Network ($GEL) community, which incubated the project over the past year, if holders lock their $GEL for three months. Until June 10, 3pm GMT, $GEL token holders can lock their $GEL to receive the $SPICE Airdrop on the official Gelato governance portal: gov.gelato.network/spice-airdrop. About Arrakis Finance: Arrakis is a web3’s liquidity layer, which at its core acts as a decentralized market-making platform enabling projects to create deep liquidity for their tokens. To learn more, visit https://www.arrakis.finance, and follow Arrakis on Twitter: https://twitter.com/arrakisfinance. Media contact: Name: Ari Rodriguez Email: hi@gelato.digital 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

The National Bank of Ethiopia (NBE) has said it does not recognize cryptocurrencies as a legitimate method of payment and that residents must avoid using them. The bank insists the local birr currency is the only lawful means of settling transactions in Ethiopia. Illegal Transactions The Ethiopian central bank has warned citizens against engaging in “illegal” cryptocurrency transactions, a report has said. The report adds that the central bank still does not recognize cryptocurrencies like bitcoin as a payment method. In its report, the state-affiliated media outlet Fanabc refers to a statement from the National Bank of Ethiopia (NBE) which reminded the country’s residents that the birr currency remains Ethiopia’s only legal tender. “Ethiopia’s national currency is the Ethiopian Birr, with any financial transaction in Ethiopia to be paid in Birrs, according to the law,” the central bank reportedly said. Residents Urged to Report Crypto Transactions Like many of its peers across Africa, Ethiopia has not completely banned the use of cryptocurrencies, but has adopted a wait-and-see approach. This approach has, however, not stopped the Ethiopian government from establishing a working relationship with Cardano. The embrace of Cardano as well as the government’s apparent warming to blockchain technology has not stopped the NBE from repeating the claim that cryptocurrencies are primarily used for money laundering schemes. The central bank also urged residents to report such transactions should they come across them. What are your thoughts on this story? Let us know in the comments section below. View the full article

John Riccitiello, CEO of Unity, one of the leading real-time 3D engine providers, has predicted that the internet will become part of the metaverse in the next several years. The executive predicted that most websites will become metaverse destinations and that this change will be mostly completed by the year 2030. However, legacy sites will still be around at the time, according to Riccitiello. Unity CEO States Internet Will Be VR-Based in the Future Several companies are now interested in how the metaverse could be a part of our lives in the near future. Unity, a company specializing in providing real-time 3D solutions, has predicted that most of the internet will be metaverse-based by 2030. John Riccitiello, CEO of the company, stated that 2D websites will mutate into metaverse destinations and that these will be interconnected. The CEO made the remarks during a keynote at AWE, an augmented reality event, last week. Among the web destinations, there will essentially be three kinds, according to the prediction. First, sites that will be fully metaverse-integrated, identified as “places you could live and inhabit.” The second kind will blend real-world locations with extended capabilities, and another class of sites will be just “a little bit of a layer atop today’s world,” augmenting it. These metaverse experiences will be able to be enjoyed fully with adequate hardware but will also have to adapt to other, less capable hardware like PCs and mobile phones. Realtime 3D Experiences and the Metaverse The CEO of Unity also commented on the importance of the real-time characteristic in these metaverse destinations, meaning that each interaction with these worlds is experienced for the first time when it happens, as opposed to movies, where interactions are always the same. This is where real-time engine providers enter the stage, giving designers the tools to create and enhance such metaverse experiences. In an interview, Riccitiello stated that more than 50% of the real-time 3D experiences in the market are built using Unity’s products. The recent purchases of the company, including the Ziva Dynamics and Weta Digital acquisitions, have the goal of further improving the technology of the company to provide more immersion in its real-time products. Unity is not the only real-time engine company interested in the metaverse. Its direct competitor, Unreal Engine 5, developed by Epic Games, is also a contender, with the objective of providing high-quality worlds and interactions for metaverse applications. What do you think about the vision of Unity’s CEO regarding the future of the metaverse? Tell us in the comments section below. View the full article

PRESS RELEASE. June 8, 2022: Myria Studios, the blockchain gaming division of Myria, announced that the company is rewarding its community members with its inaugural NFT drop — a free-to-claim Alliance Sigil NFT. For a limited time, all new and existing Myria community members can claim the exclusive NFT for free. The Alliance Sigil NFT forms part of the intricate lore of the Myriaverse and will signify where each holder chooses to stand in the fight against “The Rift” — a powerful force that consumes real worlds and mutates them into digital ones. The Sigil NFT will also grant holders additional access and utility, which will be revealed at a later date. Participants must complete basic missions to claim their chosen Alliance Sigil NFT, such as joining and introducing themselves to the Myria Discord community, and can also choose to complete further missions to claim additional rare rewards. Members can select from three Alliances: Federation, which seeks to combat the Rift’s expansion on all fronts; Vector Prime, which believes humanity is due for an evolution and will stop at nothing to accelerate the Rift’s expansion; and Equinox, which favors balance and coexistence. The rich lore of the Myriaverse will carry across Myria Studios’ game worlds, and will be revealed over time, chapter by chapter. “Space and time bend and twist, taking your consciousness with it. If you don’t move fast, you could get caught in a time loop forever. But if you’re quick and smart, and choose your Alliance wisely, you’ll be rewarded.” Visit https://www.myria.com/sigil to complete your Alliance Sigil NFT claim. About Myria Myria is the first Ethereum Layer 2 scaling solution built for gaming. We make digital asset trading and blockchain gaming easy with our all-in-one platform, including the Myria NFT marketplace, Myria Wallet, Myria Game Platform, and a decentralized exchange. With the mission of enabling more people to build, experience and enjoy the benefits of blockchain and the metaverse, we are building a suite of developer tools including easy-to-use API integrations and SDKs for developers to easily harness our platform infrastructure to unlock the potential of blockchain. This suite of infrastructure will also underpin the expansive blockchain gaming ecosystem being developed by our gaming division, Myria Studios. Myria Studios has a variety of free-to-play AAA blockchain games in the pipeline, spanning across genres from light-hearted multiplayer obstacle course games, action-packed battle-royale shooter games, and everything in between. Myria’s Roadmap The coming months of 2022 will mark many notable milestones for Myria, including the launch of the $MYRIA Token and Node License Sale. Node License owners will receive $MYRIA token and NFT rewards for their contribution to Myria’s decentralized network, be awarded voting rights, and will receive future benefits, to be revealed later. Myria Links Website: www.myria.com Twitter: www.twitter.com/myriagames Discord: www.discord.gg/myria Instagram: www.instagram.com/myriagames Myria Contacts For further information, please contact: Dave Malcolm, Chief Marketing Officer Jem Law, Marketing & Communications Email: press@myria.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

India’s market regulator, the Securities and Exchange Board of India (SEBI), says the decentralized nature of crypto assets makes consumer protection and regulatory enforcement challenging. SEBI on Crypto Regulation The Securities and Exchange Board of India (SEBI) reportedly told the Parliamentary Standing Committee on Finance that the decentralized nature of crypto assets makes any consumer protection or regulatory enforcement of this asset class challenging. Noting that “crypto assets are maintained in decentralized distributed ledgers,” SEBI was quoted by local media as saying: There is a great likelihood of execution of unauthorized trades not in consonance with any regulatory framework. The market regulator emphasized the need for clarity about whether crypto assets are securities. “If crypto assets are not banned, then there is a need for feature-based characterization of the tokenized version of the assets, which may attract supervision of different sectoral regulators,” SEBI noted. The regulator explained that there could be more than one regulator for crypto, noting that different aspects of the crypto industry could be overseen by different regulators. SEBI detailed that consumer products should be protected through the Consumer Protection Act. The Reserve Bank of India (RBI) could also regulate crypto trading platforms under the Foreign Exchange Management Act (FEMA). SEBI further said: A digital currency acts as a bridge between the fiat currency of the foreign jurisdiction and the Indian rupee. The market regulator explained that stock exchanges regulated by SEBI cannot trade crypto assets without them being declared securities. The regulator noted that under Section 2(j) of the SCRA, 1956, “a stock exchange can only provide for ‘assisting, regulating or controlling the business of buying, selling or dealing in securities.” SEBI had also proposed several measures to the Advertising Standards Council of India. Last month, SEBI proposed banning celebrities and public figures from endorsing crypto products. While crypto income and transactions are taxed in India, the government has yet to introduce a regulatory framework for crypto assets. Finance ministry officials have been consulting with the World Bank and International Monetary Fund (IMF) on crypto regulations. The country’s finance minister said that the government will not rush to come out with a crypto policy. The government is currently finalizing a crypto consultation paper. What do you think about SEBI’s comments? Let us know in the comments section below. View the full article

The U.S. Securities and Exchange Commission (SEC) is reportedly investigating Binance’s BNB token, which could be an unregistered security. If the cryptocurrency is found to be a security, it could put Binance in a similar position to Ripple Labs which has been in an ongoing lawsuit with the SEC over the sale of the XRP token. SEC Investigates Binance’s BNB Crypto The U.S. SEC is investigating whether Binance Holdings Ltd. breached securities laws when it conducted an initial coin offering (ICO) of the BNB token five years ago, Bloomberg reported Monday, citing people familiar with the matter. If the security watchdog finds that the BNB sale in 2017 was an unregistered security offering, Binance could be put in a similar position as Ripple Labs which has been in an ongoing lawsuit with the SEC over the sale of the XRP token since December 2020. The SEC claims that XRP is a security. However, an SEC enforcement probe involving BNB is likely months away from any conclusion, one of the people said. Binance told the news outlet: “it would not be appropriate for us to comment on our ongoing conversations with regulators, which include education, assistance, and voluntary responses to information requests.” However, the company stressed that it will “continue to meet all requirements set by regulators.” In the U.S., Binance operates under Binance.us. The global crypto exchange clarified that Binance.com and Binance.US “are separate entities.” Binance.us independently issued a statement, emphasizing that it was “committed to upholding the highest standards of compliance.” The crypto exchange is facing multiple investigations in Washington, the publication conveyed. Besides investigating possible trading abuses by Binance insiders, the securities regulator is also probing market-making companies tied to Binance CEO Changpeng Zhao (CZ). BNB is currently the fifth-largest cryptocurrency by market capitalization. At the time of writing, its price is $294.35. The coin fell 11% on Monday when the news of the SEC investigation broke but has since regained some of its losses. What do you think about the SEC probing Binance and BNB? Let us know in the comments section below. View the full article