Banking news roundup, June 23, 2023 - cyptoranking.com

2024-05-13

Popular crypto exchanges(2023 Update) 2024-05-13
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Cryptocurrency continues to disrupt mainstream channels, with experts and common folk seeing its absolute adoption within the next decade. However, the advent of cryptocurrency also urges bad actors to ramp up their criminal schemes to continue running off with people’s investments. Reliability of Cloud Mining firms: The bitcoin market has seen its fair share of fraudulent or untrustworthy cloud mining firms. To avoid scams, it is critical to select a reliable source. Banking news roundup, June 23, 2023The Ethereum Foundation has also recently made a sale, converting 1,700 ETH into $2.74 million worth of stablecoins on Oct. 9 using Uniswap. However, in this case, analysts have pointed out that the foundation's actions align with its regular requirements for operational expenses, grants, and incentives. As generative AI becomes more ingrained in daily life, these tools have been put to less esoteric pursuits like processing large documents that otherwise would have taken human hours to do and allowing users to ask the document questions. In July, a British startup, Twinn Health, unveiled an AI platform designed to analyze MRI scans and detect diseases while still in their early stages.Blocknative Reduces Headcount by Third, After Suspending Work on Relay Project

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Project Spartacus's website provides a public interface through which any person can “inscribe” –– Ordinals jargon for adding data to bitcoin –– a war log. There seem to be no fees associated with this action apart from network fees, a necessary component to any transaction submitted to the bitcoin network. The page also features a "donate" button, which opens up a panel through which users can optionally send bitcoin to Assange's cause. Donations are said to go towards supporting the following organizations: Freedom of the Press Foundation, The Information Rights Project and Reporters Without Borders. Fake CZ NFT’s Defrauding Users Price Predictions: Bitcoin Cash (BCH) vs. Ethereum (ETH) vs. VC Spectra (SPCT)NTRN Listing Fee: 0 BNB Staking is a process where investors grow their portfolios by locking their assets for a specified duration instead of selling them. It is used by most blockchains, especially the ones that employ Proof-of-Stake (PoS) mechanism, with users earning rewards as an incentive for committing their tokens. For most long-term cryptocurrency holders, staking is a strategy to make passive income from your assets, putting them to work in exchange for reward generation.

Earlier this month, a handful of companies in the industry banded together to form the Tokenized Asset Coalition (TAC), including Aave, Circle and Coinbase. Beyond creating educational content and building the necessary infrastructure to bring different types of assets on-chain, the coalition is also looking at developing relevant, compliant principles to drive the adoption of blockchain technology. Between October 3 and October 10, the whales with balances between 100,000 to 1 million XRP increased their holdings from 3.77 billion to 3.82 billion XRP coins. This fresh acquisition of 50 million coins over the past week brings their cumulative balances to a 3-month high. Could Mushe (XMU) be bigger than Dogecoin (DOGE)?From January 1 to September 1, the total trading volume for Ordinals on Bitcoin reached $596.4 million. That makes Bitcoin the third most popular network for NFT trading by volume, trailing Ethereum and Solana. Interestingly, the activity surrounding Ordinals has resulted in the most extended period of uncleared pending Bitcoin transactions since the start of 2021. CYBER/USD Price Analysis

Wyatt sees a more natural fit for blockchain in games based on open economies and marketplaces as well as in games that focus on user-generated content (UGC), “like a Roblox where you can create mods or game modes or maps or whatever.” In the report, the committee — led by deputy Ricardo Silva — claimed that Binance, Zhao and others “set up an opaque network of legal entities, all controlled directly or indirectly by Zhao, without defined business purpose and with no other purpose than evading compliance with the law.” Binance unit plans bid for Singapore crypto licenseSource: AdobeStock / photo_gonzoAn analyst at Berenberg investment firm believes MicroStrategy is now a safer bet compared to Coinbase due to the exchange's regulatory issues. Mark Palmer, an equity research analyst at Berenberg Capital Markets, said the US Securities and Exchange Commission will likely file an enforcement action against Coinbase as the commission increases its scrutiny of the crypto sector. “Given the heightened uncertainty that Coinbase faces, we believe investors would be much better served investing in shares of MicroStrategy,” the analyst reportedly wrote.Shares of MicroStrategy, a software maker better known for being the largest public holder of Bitcoin, have increased more than 90% YTD, compared to a 63% increase in Coinbase's shares over the same period. The strong performance comes on the back of Bitcoin’s rebound in recent months. The flagship cryptocurrency has gained more than 60% YTD.According to Palmer, MicroStrategy is an “attractive alternative” to Coinbase given the regulatory pressures on the latter. The analyst also noted that the SEC has identified Bitcoin as a commodity while claiming that the majority of other crypto assets are securities. This makes MicroStrategy, which is a major holder of Bitcoin, an appealing choice for investors. “The SEC has characterized bitcoin as a commodity while asserting that most (if not all) other crypto tokens are unregistered securities, putting bitcoin and MSTR in advantaged positions amidst the regulatory onslaught."Palmer said the enforcement actions against crypto exchanges Kraken and Bittrex, as well as crypto lending platform Nexo, could be a preview of the SEC's approach to Coinbase.“We believe investors should be focusing on whether the company would have the ability to successfully pivot its business model and geographic focus if it were forced to curtail or cease a large portion of its activities in the US."SEC-Coinbase Relationship Continues to DeteriorateThe SEC has been in a legal battle with Coinbase as of late.Back in March, the commission sent a “Wells notice” to Coinbase, threatening the crypto exchange with legal actions regarding some of its listed digital assets, its staking service Coinbase Earn, Coinbase Prime, and Coinbase Wallet. In response, Coinbase CEO Brian Armstrong accused the agency of engaging in “some really sketchy behavior.”The exchange also filed a lawsuit with a federal appellate court in Philadelphia last month, alleging that "the SEC refuses to address Coinbase’s rulemaking petition" even as the agency aims to initiate enforcement actions against the firm for listing unregistered securities.However, the commission has asked a judge to reject Coinbase’s request to compel the commission to respond to the rule-making petition. It is worth noting that Armstrong has suggested that the exchange could leave the US if regulators don't clarify their approach to the digital asset space. "Anything is on the table, including relocating or whatever is necessary," he said during the Innovate Finance Global Summit last month.Solana Price Prediction as New Blockchain Update Provides Native Support for Private Transactions – Time to Buy? There are two types of ICOs— Private and Public

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