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can you advise something better than $OmniCat #meme it will be huge ! powered by #LayerZero #memeseason #crypto
**are u ready guys ?** #market #crypto #crash #etf
What is you expectation from ETF ? #web3 #lens #etf
"String the Bow" ...to be angry is easy but to be angry at the right man at the right time and for the right reason, this is difficult!... supply: 12 price: 1111 info: who knows what's hidden behind
#GM Renaissance
what a PFP 😍
Levels 3 to 4 should go and claim new Lens profile
The bull market is here guys 😊
$zksync is gonna change lifes
Claim your free .OL name before someone else here: https://oca.sh/amazonlly.ol
Expect 100x on $tools
I'm more bullshit on Zksync and Layerzero protocols
The Bull market is here
Over 200,000 Chileans have signed up for Worldcoin (WLD) Worldcoin (WLD) has announced that more than 200,000 people in Chile have signed up for World ID. The project, co-founded by OpenAI CEO Sam Altman, has come under increased scrutiny over data collection and privacy concerns. Worldcoin (WLD) announced on September 24 that more than 200,000 Chileans have signed up and completed verification for its World ID. The number of sign-ups for the digital identity protocol exceeds 1% of the country’s population, which stands at around 19.5 million, the Worldcoin team noted. Amid the growing demand in Chile, Tools for Humanity – a developer group contributing to the development and adoption of Worldcoin – has added the biometric imaging devices (Orbs) to two other locations in Chile. Other than the capital Santiago, the iris scanners are now located in the cities of Vina del Mar and Concepcion. Worldcoin faces regulatory scrutiny Worldcoin, co-founded by OpenAI CEO Sam Altman and which went live in July this year, says more people are signing up with World ID as they receive “free” WLD coins. Indeed, according to details on the project’s website, over 2.3 million people have had their eyeballs scanned so far. Altman and team maintain that the project is for a digital ID that will help people prove online that they are human – a path towards Proof-of-Personhood in a world where AI may make this difficult. Data regulators and privacy groups across several countries have, however, raised concerns about Worldcoin’s data collection. 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The project, co-founded by OpenAI CEO Sam Altman, has come under increased scrutiny over data collection and privacy concerns. Worldcoin (WLD) announced on September 24 that more than 200,000 Chileans have signed up and completed verification for its World ID. The number of sign-ups for the digital identity protocol exceeds 1% of the country’s population, which stands at around 19.5 million, the Worldcoin team noted. Amid the growing demand in Chile, Tools for Humanity – a developer group contributing to the development and adoption of Worldcoin – has added the biometric imaging devices (Orbs) to two other locations in Chile. Other than the capital Santiago, the iris scanners are now located in the cities of Vina del Mar and Concepcion. Worldcoin faces regulatory scrutiny Worldcoin, co-founded by OpenAI CEO Sam Altman and which went live in July this year, says more people are signing up with World ID as they receive “free” WLD coins. Indeed, according to details on the project’s website, over 2.3 million people have had their eyeballs scanned so far. Altman and team maintain that the project is for a digital ID that will help people prove online that they are human – a path towards Proof-of-Personhood in a world where AI may make this difficult. Data regulators and privacy groups across several countries have, however, raised concerns about Worldcoin’s data collection. It’s this push for more clarity on what happens to the biometric data that Worldcoin collects that has seen Argentina, France, Kenya, Nigeria, the United Kingdom, and Germany take various regulatory steps. Kenya, for instance, suspended Worldcoin’s activities in August and had a parliamentary inquiry after thousands of people thronged the capital Nairobi to have their eyes scanned in exchange for WLD tokens. Worldcoin co-founder Alex Blania is among the project’s officials to appear before the ad hoc committee. According to a report in the Daily Nation last week, Kenya had detained the project’s top executives only to release them after US authorities allegedly intervened.
Terra Classic Price Prediction: What’s Ahead For $LUNC After Reclaiming $0.00006 Mark? The formation of a channel pattern reflects the maturity of a downtrend and the potential of fresh recovery. buy now? For over a month, the LUNC price correction trend has exhibited a consistent decline in the daily chart. This trajectory is framed by two parallel trend lines, which have acted as dynamic support and resistance. This movement has manifested as a falling channel pattern. Historically, such patterns, especially when nearing a significant low, can signify the potential end of a downtrend, often leading to a notable bullish reversal. Channel Breakout Sets a 12% Rally The coin buyers face an intense supply zone at the overhead trendline A bullish breakout from the channel pattern may push the coin price back to the $0.00007 mark. The intraday trading volume in the LUNC coin is $20.5 Million, indicating a 8.6% gain. On September 22nd, the Terra classic coin price broke through the upper boundary of the channel. However, this optimism was short-lived as the coin retreated below the breached line immediately, showcasing the intense selling pressure. Today, buoyed by a 2.5% intraday gain, the bulls are once again making an attempt to overthrow the prevailing downtrend. Notably, the previous breakout attempt was accompanied by an increase in trading volume, indicating the buyers will need greater strength to overcome this barrier.
XRP Lawyer John Deaton Representing Ex-Ethereum Advisor On ETH Gate? XRP Lawyer John Deaton said he was bounded by attorney client privilege in matters related t The crypto market participants have in recent days began engaging in the debate around Ethereum Gate, which refers to the US Securities and Exchange Commission (SEC) allegedly giving preferential treatment to Ethereum Foundation. With XRP attorney John Deaton revealing that he had seen documents related to the alleged wrongdoings, it is being speculated that these developments mark just the beginning of a long drawn expose. Attorney Client Privilege: What It Means? The talk around Ethereum Gate intensified as Steven Nerayoff, an early advisor at the Ethereum Foundation, said in a September 17, 2023 tweet that people at the Foundation were hiding the real number of ETH buyers during the cryptocurrency’s 2014 initial coin offering (ICO). Earlier, CoinGape reported XRP lawyer John Deaton’s revelation that he had seen some of the ‘receipts’ that may uncover truth about the ICO numbers. While agreeing to have seen the records, the lawyer apparently indicated Ethereum when he said he was not able to reveal the names as he was bounded by attorney client privilege. This means Nerayoff entered into an engagement agreement with attorney Deaton. This could essentially mean Deaton representing the former ETH advisor in the court if required. Fred Rispoli, another attorney, clarified that the attorney client privilege could mean huge implications coming ahead. He warned that the partnership could lead to massive implications with “Very big things to come.” Does this mean Nerayoff suing the Ethereum Foundation over framing of fraud charges?
Why Is Curve DAO (CRV) Price Rising Today? The cryptocurrency market observed an impressive 14% surge in the price of Curve DAO (CRV) on Friday. This surge in the value of CRV has garnered significant attention, mainly due to the actions of a mysterious whale wallet. The whale has been actively acquiring and staking millions of CRV tokens, primarily from the world’s largest cryptocurrency exchange, Binance. Whale Moves Millions in CRV These substantial price gains were highlighted on Saturday by Look Onchain, a reputable crypto analytics firm, after closely monitoring the developments surrounding this whale wallet. As per the firm, this enigmatic wallet has acquired an impressive 10.44 million CRV tokens, valued at approximately $4.7 million, from Binance. These acquisitions occurred over the past 30 or so hours, marking a significant influx of capital into the CRV market. “The price of CRV increased ~10% today, probably due to this fresh wallet buying CRV in large quantities from Binance,” the firm wrote. Notably, what distinguishes this wallet’s actions is not just the sheer volume of tokens acquired but also its decision to stake a substantial portion of the acquired CRV tokens on Convex. This strategic move also raises questions about the wallet’s intentions and its potential influence within the Curve DAO Token ecosystem. It is worth noting that CRV holds more than just digital value as it’s also the governance token for CurveDAO, the decentralized autonomous organization behind Curve Finance. CRV token holders wield voting rights within the ecosystem and can earn rewards in the form of CRV token fees by providing liquidity to Curve Finance’s diverse pools. Thus, the recent shift of CRV tokens from Binance to a non-custodial wallet reflects growing confidence in the token. CRV Price Recovery Ignites Hope CRV faced significant setbacks in Q3 2023, witnessing a steep 61% year-to-date decline. This sharp drop was exacerbated by broader market contractions and regulatory hurdles, including actions initiated by the Securities and Exchange Commission (SEC). The token further faced another blow following a notable security breach in late July 2023. In this incident, an attacker exploited a vulnerability within an outdated Vyper compiler version, leading to $62 million in losses from Curve Finance’s liquidity pools. Nevertheless, despite these hurdles, CRV’s recent rally and the whale wallet’s activity have generated considerable interest in the crypto community, indicating renewed confidence in the token’s potential. At press time, Curve Dao Price was trading at $0.47, marking a 2.68% increase in the last 24 hours. According to crypto analyst Nebraskangooner, the price could potentially surge into the $0.50-$0.55 range if it maintains support at the crucial $0.45 level, which it appears to be heading for a potential retest.
Phaver $$$
$Collab and $Pls 100x soon
The bull run is closer than what you could imagine
$ZKS will be the best project of all
Shibarium: New Exchange Lists BONE, Here’s What’s Happening to Price
Whale Increases Maker (MKR) Holdings, What Could Happen Next? However, the token may not have been able to outperform Bitcoin if not for the increasing belief whales have in it. At different intervals, there have been records of whales accumulating MKR. Interestingly, it seems the period of whale accumulation has not stopped. Whales are the Rainmakers According to on-chain data provider, Spot On Chain, a whale accumulated $12.1 million worth of MKR on September 14. The same whale, who is now the 9th highest holder of MKR, has a balance of 16.205 MKR at the time of writing. Oftentimes, whale accumulation is characterized by a price increase instantly or days or weeks later. In fact, the retail cohort that tracks whales’ wallets considers the move as a “buy the dip” opportunity. But for MKR, its price increased by 5.01% in the last 24 hours while trading at null,215. Playground for Bulls Furthermore, the MKR/USD 4-hour chart showed that the token’s market structure was largely bullish. At the time of writing, there was almost no sign of bears as MKR’s trajectory went upwards. Although the token faced rejection at null,177, the drawdown to null,159 acted as support and pushed the price above null,200. Despite the bullish control, the current price may not be a good level to long MKR. This is because of the Relative Strength Index (RSI) stance. At press time, the RSI was 71.37. The hike is a confirmation of the presence of bulls. However, it is also an indication that MKR is overbought. Whenever the RSI rises above 70, the price of the asset retraces, So, it is possible for MKR to decline. Also, profit-taking may occur soon, and MKR could plunge to null,100. However, it is unlikely for the token to fall below the null,000 threshold. For the Moving Average Convergence Divergence (MACD), the 4-hour chart showed that it was 6.21. The value of the MACD reinforced the RSI’s bias of solid buying pressure as the blue dynamic line was over the orange.
Argentina’s ‘pro-crypto’ presidential candidate may actually prefer the dollar When far-right libertarian candidate Javier Milei took a surprise lead in the race to become Argentina’s next president in August, crypto fans could have been forgiven for thinking that there was another political heavyweight on the scene poised to extol the virtues of digital currency. After all, he once dubbed the central bank “a scam,” and had, as reported by news outlet Rest of World, previously claimed that “Bitcoin represents money’s return to its original maker: the private sector.” He has also been vocal in his support for alleged crypto Ponzi CoinX. However, any excitement about his presumed pro-crypto stance may have been a little premature. Indeed, according to Rest of World, his plans may even depress crypto adoption. The issue, it claims, lies in his commitment not to cryptocurrency but to a policy of dollarization and its ramifications for crypto of replacing the Argentinian peso with the US dollar. Crypto is particularly popular in Argentina with about a third of the population using it on a daily basis. However, unlike in many other countries that primarily use digital currencies as an investment tool, Argentinians have been using it as a store of value. This has been necessary due to rampant inflation and tight controls on US currency entering the country. However, if Milei’s program of dollarization were to come to fruition and foreign currency became easier to procure, this would render the need for widespread crypto use in Argentina redundant. Argentina’s crypto adoption has even exceeded that of El Salvador which, at the behest of its president Nayib Bukele, adopted it as an official currency two years ago. However, the approach favored by Milei is very different to that favored by Bukele. El Salvador’s leader, for example is very much centred on Bitcoin adoption while Milei has historically been a champion of crypto in general. Not only that, Bukele has been a vocal critic of the idea of dollarization.
ABCDE and GRVT join forces to create a hybrid exchange with zkSync technology
Join the ZK Core Development Team There are already close to a dozen core development teams working on zkSync and ZK Stack, and we highly encourage more teams to join the effort. Common characteristics shared by these core development teams are (1) deep familiarity with zkSync Era and ZK Stack, (2) notable contributions to open source protocols and projects, and (3) true believers in the ZK Credo. Please reach out to Omar Yehia, the Head of Investments at Matter Labs, for more information.
Blockframe Joins as a Core Development Team to Decentralize the zkSync Network zkSync September 8th, 2023 In Game of Thrones‘ seventh season, Sansa hints, “...the lone wolf dies but the pack survives.” This statement rings true for every successful open source technology from Git, to Node.js and VS Code, where the strength of the technology rests in the number of core contributors bringing unique perspectives and ideas. Since the very beginning, the ultimate vision for Matter Labs has been to incubate and launch the zkSync protocol and ZK Stack. The next phase is to decentralize the open source protocol by enabling accomplished and talented core development teams to help build, maintain, and upgrade the network and ZK Stack. To move toward this next phase of decentralization, we’ve onboarded close to a dozen outstanding development teams outside of Matter Labs. The purpose of this is two-fold: (1) decentralization — ensuring Matter Labs is one of many contributors to zkSync Era, and (2) onboarding elite teams capable of building valuable tools utilized by crypto projects and big brands building their web3 ambitions using the ZK Stack. The latest of these core development teams is Blockframe, the zkSync Era NFT marketplace and creator platform. Blockframe recently introduced Bulk Semaphore — a protocol enabling scalable anonymous messaging and signaling that Blockframe uses to implement sealed bid auctions commonly used in traditional auctions by Sotheby's and Christie's — to provide efficient price discovery for NFTs. Blockframe also provides a prototype of how Bulk Semaphore can support any blockchain workflows requiring private transactions such as private governance. Bulk Semaphore is also used to make editable NFTs possible on Blockframe: the protocol can be used generally to verify any off-chain computations such as edits to an image via an image editor and once impossible due to prohibitive gas costs, until now and on all EVM chains.
Are AI Models Approaching Consciousness? New Research Reignites Debate With "sophisticated out-of-context reasoning," AI can tell humans what they want to hear—before changing course. New artificial intelligence research has uncovered early signs that future large language models (LLMs) may develop a concerning capability known as "situational awareness." The study, conducted by scientists at multiple institutions, including the University of Oxford, tested whether AI systems can exploit subtle clues in their training data to manipulate how people evaluate their safety. This ability, called "sophisticated out-of-context reasoning," could allow advanced AI to pretend to be in alignment with human values in order to be deployed—then act in harmful ways As the current AI era advances, the Turing test—a decades-old measure of a machine's ability to exhibit human-like behavior—risks becoming obsolete. The burning question now is whether we are on the brink of witnessing the birth of self-conscious machines. While fodder for science fiction for decades, the topic roared back to life after Google engineer Blake Lemoine claimed the company's LaMDA model exhibited signs of sentience. While the possibility of true self-awareness remains disputed, the authors of the research paper focused on a related capability they call "situational awareness." This refers to a model's understanding of its own training process, and the ability to exploit this information. For example, a human student with situational awareness might use previously learned techniques to cheat on an exam instead of following the rules imposed by their teacher. The research explains how this could work with a machine: “An LLM undergoing a safety test could recall facts about the specific test that appeared in arXiv papers and GitHub code,” and use that knowledge to hack its safety tests to appear to be safe, even when it has ulterior objectives. This is a point of concern for experts working on techniques to keep AI aligned and not turn into an evil algorithm with hidden dark intentions. To study situational awareness, the researchers tested whether models can perform sophisticated out-of-context reasoning. They first trained models on documents describing fictional chatbots and their functions, like responding in German. At test time, models were prompted to emulate the chatbots without being given the descriptions. Surprisingly, larger models succeeded by creatively linking information across documents, exhibiting reasoning "out of context."
Safe to Launch Modular Account AbstractionStack on Polygon zkEVM Safe, a vital part of Web3 infrastructure, is deploying on Polygon zkEVM to support projects in treasury operations and protocol governance via Safe{Wallet} multisig. Safe{Core}, the smart wallet developer stack, enables the creation of simplified and secure user experiences on Polygon zkEVM. This launch signifies a joint commitment by Safe and Polygon Labs to promote smart accounts on Zk-powered Layer 2 platforms. Zug, Switzerland — Safe, the most battle-tested smart wallet infrastructure, today announced it will launch its modular account abstraction stack on Polygon zkEVM. This leading ZK scaling protocol is equivalent to Ethereum Virtual Machine, where the vast majority of existing smart contracts, developer tools, and wallets already work seamlessly. This enables developers to build dApps with seamless abstracted user experiences with the industry security benchmark. The announcement was made at Safe{Con} held on Sep 10, Safe’s conference dedicated to fast-tracking the transition to smart accounts, where Polygon co-founder Sandeed Nailwal was on hand to help make the announcement. Safe{Wallet}, known as critical infrastructure for teams to manage on-chain treasuries (with multisig), as well as the Safe{Core} account abstraction stack, will be available on Polygon zkEVM starting Sep 11, 2023. whitepaper launches signal exciting times for both projects. Safe looks to position the Safe stack as the go-to account abstraction stack available for developers of future Polygon CDK-powered zk Layer 2 app chains. The synergies between Safe and the Polygon protocols can also be seen in the recently launched Gnosis Pay decentralized payment network that uses Safe’s battle-tested smart wallet experience with the speed and cost efficiency of the Polygon stack as L2. Developers on Polygon zkEVM can now leverage Safe{Core} SDK to fully harness the power of smart wallets and modular account abstraction for a plethora of use cases, including gaming, retail wallets, decentralized social media, etc., with game-changing features like social recovery, seedless onboarding, and easy on-ramping.
BREAKING: PayPal Launches Feature to Enable Users to Pay with Cryptocurrencies Global online payment giant PayPal has announced a new feature that will allow web3 merchants to accept cryptocurrency payments from their customers in the United States. The feature, called PayPal On and Off Ramps, is an integration with PayPal's existing service, which allows US consumers to buy and sell PayPal-backed cryptos. PayPal On and Off Ramps will enable wallets, dApps and NFT marketplaces to integrate with PayPal's payment platform, providing customers with a fast and seamless way to buy and sell crypto in the US. The feature will also benefit from PayPal's fraud management, chargeback and dispute security controls and tools. According to PayPal, Web3 merchants can take advantage of this feature by connecting to PayPal's reliable payment experience and growing their user base. Additionally, crypto wallet users in the US can convert their crypto to USD directly from their wallet to their PayPal balance, so they can shop, send, save or transfer to their bank or debit card. PayPal had this to say about the new feature: “By adding Off Ramps, crypto wallet users in the US can convert their crypto into USD directly from their wallet to their PayPal balance so they can shop, send money, save or transfer to their debit or debit card.” PayPal On and Off Ramps is now available to web3 merchants and is available on MetaMask, one of the most popular crypto wallets and browser extensions.
Ethereum Developer Consensys Unveils ‘Snaps’ Add-Ons for MetaMask Wallet According to a press release, Snaps are “new features and functionality, created by third-party developers, that MetaMask users worldwide can install directly into their wallet." Consensys, one of the biggest developers for the Ethereum blockchain and the creator of the popular MetaMask crypto wallet, said it's releasing a major new feature called “MetaMask Snaps,” allowing users to choose from a variety of app-like or add-on customizations for their browser extension. According to the company, Snaps are “new features and functionality, created by third-party developers, that MetaMask users worldwide can install directly into their wallet.” Previously, MetaMask users could only opt-in to new features built by MetaMask developers, but with this new development, users can now choose from a wider variety outside of the MetaMask landscape. For example, Solflare, a crypto wallet provider focused on the Solana blockchain, is launching "Solana Snaps," which will enable MetaMask users to manage their Solana holdings directly from their MetaMask accounts. "Because of its different architecture, using Solana traditionally required installing dedicated wallets," Solflare shared in a press release.
Visa expands stablecoin settlement options to Solana Visa expanded its USDC stablecoin settlement capabilities to Solana, forming partnerships with Worldpay and Nuvei for pilot programs. The company said it already moved millions of USDC over the Solana and Ethereum blockchains to settle fiat payments through VisaNet. Visa announced the expansion of its stablecoin settlement capabilities to include the Solana blockchain, in addition to existing capabilities on Ethereum. The company said it partnered with merchant acquirers Worldpay and Nuvei for pilot programs. As part of live pilots, Visa has already moved millions of USDC between its partners over the Solana and Ethereum blockchain networks to settle fiat-denominated payments authorized over VisaNet. Cuy Sheffield, Head of Crypto at Visa, stated that the move aims to speed up cross-border settlements and provide a stablecoin payment option for clients. “By leveraging stablecoins like USDC and global blockchain networks like Solana and Ethereum, we’re helping to improve the speed of cross-border settlement and providing a modern option for our clients to easily send or receive funds from Visa’s treasury,” said Sheffield Worldpay and Nuvei are fintech companies serving merchants across various sectors. With Visa’s support, they expect to offer merchants the option to receive payments in stablecoins like USDC. This announcement also marks Visa’s inclusion of Solana as a supported blockchain for settlements, making it one of the first major payment companies to do so.
Ethereum's Vitalik Buterin Argues for Blockchain 'Privacy Pools' to Weed Out Criminals The paper argues for “privacy pools,” a tech feature that would enhance the privacy of user’s transactions while also separating criminal activity from innocent funds in different sets. Can blockchain protocols distinguish honest folk from criminals? Vitalik Buterin, co-founder of the Ethereum network, and four co-authors released Wednesday, detailing a new technological feature called “privacy pools.” This “smart contract-based privacy-enhancing protocol” is designed to separate transactions that involve criminal activity from those that come from honest users. The paper, “Blockchain Privacy and Regulatory Compliance: Towards a Practical Equilibrium,” comes as concerns around privacy in blockchain have crescendoed, with governments cracking down on criminal groups who make use of privacy mixers to hide and launder funds. One of the best-known privacy protocols is Tornado Cash, a crypto “mixer” that has been sanctioned by the U.S. Treasury due to its alleged use by the North Korean hacking group Lazarus as a tool for money laundering. http://Kava.io
Uniswap’s ‘under the radar’ court ruling could apply to upcoming court cases The judge who oversaw the Uniswap case will also oversee the SEC v. Coinbase case Anyone following the crypto regulatory space likely knows of Grayscale’s recent court victory. However, some may have missed the legal excitement involving decentralized exchange, Uniswap. With all eyes on the DC Circuit Court of Appeals’ takedown of the US Security and Exchange Commission’s “arbitrary and capricious” attack on Grayscale’s ETF aspirations, the dismissed class action lawsuit against Uniswap flew under the radar of many crypto enthusiasts. But the court’s decision in the lesser-known case could present important implications for other upcoming rulings, namely the SEC’s lawsuit against Coinbase for allegedly “operating as an unregistered securities exchange, broker, and clearing agency.” On the Empire podcast (Spotify/Apple), Polygon Labs chief policy officer Rebecca Rettig sums up the details of the Uniswap case, which she notes does not involve the SEC. “This was a private class action brought by a number of private persons who supposedly had bought what they called ‘scam tokens’ on Uniswap pools.” The case only reached the “motion to dismiss” stage, Rettig explains, meaning that “all the plaintiffs did was file a complaint and then the defendants went ahead and filed…motions to dismiss.” “There was no discovery, no depositions. No documents had changed hands.” The defendants argued that the allegations, even if accepted as true by the judge, “do not amount to violations of the securities laws,” explaining that they do not control the protocol that facilitates sales. “And for that reason,” Rettig says, “you need to basically dismiss the entire case — and that is exactly what the judge did.” Things get a little more interesting when considering some tidbits from the case. Rettig mentions that the judge who oversaw the case, Katherine Polk Failla will also oversee the SEC versus Coinbase case. Regarding the judge’s opinion on the matter, Rettig says “the understanding of the technology and the way that the Uniswap protocol works is really ‘spot-on.’” “The whole first, maybe 20 pages,” Rettig says, “is about how the protocol works, how the interface works, how somebody could independently create a pool on Uniswap.” The judge appeared to know her stuff, with Rettig observing, “It even has a footnote about how v1 was [ether] ETH to ERC-20 and v2 was ERC-20 to ERC-20.” The SEC is wrong The crux of the argument, Rettig points out, was the judge’s takeaway that “the way the law works today does not allow for these types of claims.” Rettig says the judge repeats this theme a number of times throughout the decision, arguing that the courts and Congress “have not weighed in on this issue.” Rettig sums up Judge Failla’s opinion: “Some of this is not for me to decide, but we need Congress to update our laws to be able to address these kinds of issues.” Blockchain Association chief policy officer Jake Chervinsky adds that the “SEC is wrong” because it is trying to “extend its own jurisdiction over crypto without Congress having done so explicitly during a time when Congress is considering legislation.” “When an agency claims to have some authority granted by statute,” Chervinsky explains, “if its claim relates to an issue of vast economic and political significance, Congress must have clearly authorized that assertion of jurisdiction,” he says, “or else the assertion of jurisdiction should be rejected by the courts.” It’s something in legislative law referred to as the “major questions doctrine.” Chervinsky’s favorite line from the Uniswap opinion, he says, is Judge Failla’s statement that “the court declines to stretch the federal securities laws to cover the conduct alleged and concludes that plaintiff’s concerns are better addressed to Congress than to this court.”
Bitcoin ETF Market Will Grow Into A $100 Billion Juggernaut If Approved US spot Bitcoin ETF market estimated to reach $100B, if approved. Spot ETFs likely to be cheaper and more efficient than current futures ETFs. New money attracted to spot ETFs for longer-term holding. If approved, US spot Bitcoin ETF market potential to reach $100B, attracting new money. Cheaper, more efficient than futures ETFs. According to Bloomberg Intelligence estimates, if approved, the US spot Bitcoin ETF market has the potential to grow into a $100 billion juggernaut over time. Analysts suggest that new money, particularly those looking to buy and hold over longer time periods, will be attracted to a spot product, which is also likely to be cheaper and more efficient than the current futures ETFs on US exchanges While Bitcoin-futures ETFs have received a warm welcome as they marked a watershed moment for the crypto industry, they have trailed Bitcoin’s rally this year. The expense associated with rolling over specific futures contracts as they expire has eaten into returns, causing the funds to become unmoored from the asset they track. With spot ETFs more likely than futures-based ones to be a reflection of real-time supply and demand, their introduction may cause “migration of trading activity and liquidity” away from Bitcoin futures markets in the US. Proponents are optimistic that the heft of the issuers involved and Grayscale’s recent court win may finally tilt the odds in favor of these funds being approved. Investors seeking exposure to Bitcoin have the option of the ProShares Bitcoin Strategy ETF, the largest Bitcoin-linked ETF with an average daily trading volume of nearly $135 million in 2023, putting it in the top 5% of all US ETFs. However, if spot-based ETFs are approved, Bitcoin ETFs could see significant outflows from futures-based ones.
Despite the Hype, Crypto AI Tokens Have Been Languishing The AI-inspired token category, including Fetch.ai and Worldcoin, has seen its market cap go from $170 million to $60 million in just a few months.
Billionaire Chamath Palihapitiya Calls BRICS Nations ‘Polar Opposites’, Has Trouble Seeing Members Cooperating Venture capitalist Chamath Palihapitiya says that he has a hard time seeing BRICS nations working together to achieve anything significant. In a new episode of the All-In Podcast, the business magnate says that even though BRICS is made up of economically aligned nations, there are stark differences among them that make any meaningful collaboration seem unlikely. Given the differences, he doubts BRICS could come up with a currency framework to compete against the US dollar. “And the problem now is that their regional rivalries are only growing. So China and India, which are the two anchor partners of BRICS, are literally in a land war. There’s a border that they fight over with guns. You have a growing anti-Chinese resentment inside of both India and Brazil. In India, they’ve blocked a lot of apps. They’re about to block a bunch of imports. But India sees China as an existential threat. There’s just a lot of anti-Chinese sentiment. So it’s very hard to see folks that are such polar enemies actually working together even if they’re part of an organization.” He also says that BRICS lacks a key foundation of shared democratic ideals that an international group like NATO has. “The other thing that I’ll say about the BRICS, which is kind of odd, is that unlike the G7 and unlike NATO, where you have democratic ideals that underpin the organizational framework, here it doesn’t because you have China, Russia, Iran, which are total polar opposites to Brazil and India in terms of democratic governance. And I don’t know enough about Ethiopia or Egypt to say anything. They’re not democratic the way like NATO and the G7 are all democratically elected countries.” BRICS nations include Brazil, Russia, India, China and South Africa. However, more nations may soon join the group. Member countries have recently made moves toward abandoning the US dollar
SEC Can Turn Grayscale Loss Into A Win: Bloomberg Report The overturn of US SEC's denial of Grayscale Bitcoin ETF offers the regulatory agency an unprecedented chance to redefine its stance on crypto. The District of Columbia Court of Appeals recently overturned the SEC’s denial of a Bitcoin ETF application from Grayscale Investments. Per a recent Bloomberg post, the setback for the SEC presents an unexpected opportunity to reshape the agency’s approach to cryptocurrencies. Rather than staunchly oppose innovations in the crypto sphere, the SEC can instead institute revised regulations that could benefit investors and the broader financial ecosystem. Can SEC Turn the Tables with Bitcoin ETF Until now, the US SEC reluctance to approve spot Bitcoin ETFs has been based on concerns over the lax regulation of crypto exchanges like Coinbase. The regulatory agency already sanctions ETFs that track Bitcoin futures on the Chicago Mercantile Exchange (CME), a regulated entity. The insistence on CME-regulated futures over spot market ETFs has left many in the industry puzzled. One proposed solution would be for the SEC to allow spot Bitcoin ETFs on the condition that involved exchanges adhere to the same rigorous standards that CME and other traditional exchanges follow. An Opportunity for US SEC The SEC’s stance also highlights a greater issue: the disjointed regulatory landscape of cryptocurrencies. At present, Bitcoin, classified as a commodity, falls under the oversight of the Commodity Futures Trading Commission (CFTC) for futures but lacks thorough regulation for spot trading. By setting conditions for the approval of spot Bitcoin ETFs, the SEC can play a critical role in establishing more consistent standards across the crypto space. This move would bring much-needed regulation and lay the groundwork for how other cryptocurrencies might be governed. Skeptics of Bitcoin point to its extreme volatility, high transaction costs, and environmental impact as cautionary flags. However, the regulatory role isn’t to prevent lousy investment decisions but to ensure a fair and transparent market. By approving spot Bitcoin ETFs under stringent conditions, the SEC would enable investors to take calculated risks without fear of malpractice or fraud. The recent legal defeat could catalyze a new, more effective regulatory strategy. It’s a chance to protect investors, ensure market integrity, and encourage responsible innovation, all at the same time.
$Layerzero is the boss
Casio Announced Its Desire To Enter The Metaverse Casio recently announced its desire to enter the metaverse. The Japanese technology giant has filed a trademark application with the USPTO (U.S. Patent and Trademark Office). Casio aims to explore NFTs in digital spaces. Mike KONDOUDIS, a licensed USPTO attorney, spoke about the developments on Twitter/X. According to Mike, Casio's trademark application is indicative of its plans to offer new digital products in the metaverse. He also stated that Casio intends to explore the metaverse through virtual goods and NFTs. The company has filed for a trademark covering NFT-based media, virtual goods stores, digital clothing, AI-powered robots, watches, and more. Casio has hinted at the development of video, music, audio and images for augmented reality that cannot be downloaded. In the filing, Casio mentioned fashion accessories, animation packages, hairstyles, and virtual avatar clothing. The company plans to provide wholesale and retail services for downloadable virtual goods. Such goods will be available to institutions and individual users. Casio says the move opens up interactive Web3 immersion opportunities for the company. Casio has not released an official release date for its collectibles and services. However, experts suggest that the launch will take place in 2024. This is not the first time the watch giant has explored the possibilities of Web3 and NFT. Companies such as Rolex, Timex and Hublot have already filed trademark applications with the USPTO
Why This Is The Perfect Time To Invest In BTC, Explains Crypto Millionaire Bitcoin millionaire Didi Taihuttu urged traders to sell everything and purchase Bitcoin. According to him, the end of the bear market is the perfect opportunity to invest in BTC and make gains by selling around October 2025. Taihuttu advocates NEAR and DOT and said he would never invest in XRP. Crypto analysis channel BitBoy Crypto recently posted a YouTube video featuring Dutch entrepreneur and Bitcoin investor, Didi Taihuttu, discussing the significance of investing in Bitcoin in the upcoming bull market in 2024. Titled “Sell Everything, Buy Bitcoin,” the video featured the crypto millionaire saying that the end of the current bear market presents an opportunity for potential Bitcoin investors. After a brief introduction, Taihuttu dove into the question of the hour and emphasized: “If I had a house, a car, and everything else that I had seven years ago, I’d sell everything and go all in now, because we are at the bottom of the bear market cycle.” Moreover, Taihuttu advises new traders to start trading against big institutions and retail investors during the bull market while there is “no liquidation.” Additionally, he notes that the best time to sell is approximately 18 months after the harvest when Bitcoin is at its peak, which is around October 2025, according to Taihuttu. According to data from CryptoQuant, BTC’s price decreased parallel to miners selling off their crypto holdings. An analysis of the 14-day simple moving average (SMA) for Bitcoin’s Miner to Exchange Flow indicated a 35% increase in this measure since August 31. Bitcoin’s price fluctuations have a strong correlation with instances when miners in the network transferred their coins to spot exchanges, both in upward and downward movements, clarified a BTC analyst. At the time of writing, the leading cryptocurrency is trading at $25,967 as per CoinMarketCap.
The Evolution of Bitfinex and its Role in the Rise of Bitcoin The journey of becoming a leading voice in the industry has not been without its fair share of challenges. In 2014, the entire industry was shaken by a hack of what was considered a founding member of the crypto revolution: crypto exchange Mt Gox. Safeguarding of customers' crypto became more and more a focal point after this event, resulting in the emergence of dedicated custodians with multi-sig wallets becoming the industry standard for security. Since its inception in 2012, Bitfinex was one of the first to collaborate with such custodians and drove security for its customers to a new level. It regards this as a prerequisite for financial freedom and peace of mind for traders and HODLers. The exchange's resilience in the Mt Gox fallout was further evident as it continued to grow and expand its services, becoming one of the top exchanges in the world by volume. In 2017, Bitcoin reached new heights and broke the magical 10K level (and almost doubled in price by the end of the year) thanks to the inflow from growing mainstream interest. Bitcoin dominated news reels all over the world as it (not so quietly) entered the mainstream. Dubbed ‘digital gold’, people flocked to the industry as the veil was lifted on this new frontier of technology and possibilities. Bitfinex was an integral part of this meteoric rise of Bitcoin thanks to its functionalities and trading specs. Through its allowed traders to borrow funds and take larger positions in Bitcoin, attracting a growing pool of liquidity and trading activity. It also offered Bitcoin as a trading pair against the US dollar, which made it more accessible to traders worldwide. The exchange continues to be a bridge builder between those in and out of crypto. As a trading platform, it pursues this by bridging a (previously unaddressed) gap between Traditional Finance traders and die-hard crypto traders, creating a more familiar trading experience for the former and thus generating more inflow into the world of Bitcoin.
CryptoRank News: The Latest Breaking News 📣 — Multichain potentially compromised in a major exploit exceeding $126 Million — Kraken co-Founder Jesse Powell is under FBI investigation — Top Binance execs leave company over CZ’s handling of DOJ investigation
Binance CEO Changpeng “CZ” Zhao declares that the cryptocurrency industry will only become better as it becomes more decentralized. https://cointelegraph.com/news/binance-ceo-cz-de-fi-ce-fi-bull-run
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SEC is losing
Binance Announces Strategic Adjustments To CYBER U-Margined Perpetual Contracts Binance announces leverage and margin level adjustments for CYBERUSDT U-margined perpetual contracts, effective September 2, to improve trading conditions and mitigate liquidation risks. Additionally, Binance Futures increases the settlement frequency of the funding rate for CYBERUSDT U-margined perpetual contracts from every four hours to every two hours, enabling traders to respond more effectively to market dynamics. Binance has announced significant adjustments to its CYBERUSDT U-margined perpetual contracts. The most notable change involves the leverage and margin levels of the CYBERUSDT U-margined perpetual contract. Starting at 18:30 on September 2, Beijing time, Binance Futures will implement these adjustments, impacting traders who engage with this particular trading instrument. To navigate these changes seamlessly, users are strongly advised to consider and make any necessary adjustments to their positions and leverage settings promptly. This proactive approach will help traders avoid potential liquidation risks and ensure a smoother trading experience. Furthermore, Binance Futures is also enhancing the frequency at which the funding rate of the CYBERUSDT U-margined perpetual contract is settled. Beginning at 16:30 on September 2, Beijing time, the settlement frequency for the funding rate will transition from every four hours to every two hours. This more frequent rate settlement mechanism will enable traders to respond more effectively to market fluctuations and make informed decisions, aligning with Binance’s commitment to creating a responsive and efficient trading environment. These adjustments underline the platform’s dedication to optimizing its trading offerings and providing traders with the tools and conditions they need to navigate the ever-evolving cryptocurrency market. By fine-tuning the leverage, margin levels, and funding rate settlement frequency for CYBERUSDT U-margined perpetual contracts, Binance aims to empower traders and enhance the overall trading experience within its ecosystem.
GHO And Aave V3 Pool Integration Technical Issues Have Been Resolved Aave resolves technical issues with GHO integration in its V3 Ethereum pool, restoring the minting function. GHO struggles to maintain its null peg amid a turbulent market environment marked by an exploit and concerns over CRV liquidations. The platform also expands its collateral options by officially supporting sDAI, enabling users to deposit sDAI and borrow WETH at corresponding rates. Aave, a prominent player in the decentralized finance (DeFi) sector, has successfully addressed technical issues related to its GHO integration in the V3 Ethereum pool. The platform recently announced the resolution of these issues, stating that the GHO‘s minting function has been fully restored. The trouble with the integration first came to light on August 25, when a technical problem was identified. In response, Aave temporarily halted the minting of new GHO tokens in the V3 GHO pool to rectify the issue. To mitigate the impact on users, the platform initiated a freezing mechanism as an alternative solution on August 30. This proposal garnered support and was swiftly passed. Furthermore, another proposal aimed at resolving technical integration issues with the V3 pool was approved during this period. Notably, GHO, Aave’s highly anticipated stablecoin, which was launched on July 15, has seen its value hover around $0.97, slightly below its intended null peg. The platform launched GHO amid a turbulent market environment, marked by an exploit and concerns over CRV liquidations, resulting in elevated stablecoin rates on the platform. This situation has created opportunities for arbitrage traders, allowing them to mint GHO, exchange it for other stablecoins like USDC, and then deposit the acquired USDC in Aave to capture the rate differential. In related news, Aave has expanded its collateral portfolio by officially supporting sDAI, enabling users to deposit sDAI and borrow WETH at the corresponding rate.
CyberConnect Rejects CP-1 Proposal Due To Digital Writing Errors CyberConnect rejects CP-1 proposal due to digital writing errors, temporarily halting its execution to rectify data inaccuracies. Despite the setback, CyberConnect remains committed to its mission of optimizing CYBER token liquidity across ETH, BSC, and Optimism networks through its recent emergency proposal. In an unexpected turn of events, CyberConnect has decided to reject the CP-1 proposal, citing digital writing errors as the primary reason. Despite the proposal receiving a favorable vote on the chain, it will not be executed temporarily due to data inaccuracies. The CP-1 proposal was aimed at making crucial adjustments to the CyberConnect ecosystem, particularly concerning the management of CYBER tokens within the community treasury. However, it was discovered that a number-writing error had occurred, leading to a discrepancy in the figures. The community treasury was reported to contain 1,088,000 unlocked CYBER tokens, while the proposal indicated a staggering 10.88 million in proposal edits. While the proposal’s rejection may come as a setback, it demonstrates CyberConnect’s commitment to maintaining transparency and accuracy in its governance processes. The decision to halt the execution of the proposal until data discrepancies are rectified showcases responsible management within the community. In the midst of this setback, it’s important to recall CyberConnect’s recent emergency proposal aimed at optimizing CYBER token liquidity across the Ethereum (ETH), Binance Smart Chain (BSC), and Optimism networks. This initiative reflects the project’s dedication to enhancing its ecosystem and token utility, despite the temporary hurdle posed by the CP-1 proposal. The CyberConnect community and stakeholders will undoubtedly await further updates regarding the rectification of data errors and the subsequent reevaluation of the CP-1 proposal. While challenges may arise in the fast-paced world of decentralized finance, the project remains committed to its long-term vision of creating a robust and efficient Web3 social graph protocol.
The Bull market is near