Day: April 25, 2023

Unizen (ZCX) enters a strategic partnership with THORChain (RUNE)

Dubai, United Arab Emirates, April 25th, 2023, Chainwire

The team at Unizen, operating the Web3 ecosystem found at zcx.com, is pleased to announce a strategic partnership with the team at THORChain. Specifically, Unizen has integrated the THORChain settlement layer to enable swaps between ETH (Ethereum) and AVAX (Avalanche C-chain) to BTC (Bitcoin) and vice versa.

“THORChain has devised an exceptionally refined solution that has proven resilient against the trials of time and fluctuations in market conditions, facilitating decentralized liquidity for assets on non-programmable chains.”, says Martin Granström, CTO of Unizen. “This made THORChain the obvious selection for empowering trades on the Unizen Trade platform involving Bitcoin, Litecoin, Dogecoin, and additional cryptocurrencies.”

“Unizen is an excellent venue to offer cross-chain swaps powered by THORChain. The industry has been slowly moving from centralized swap services to DeFi protocols. The goal is to bring the centralized exchange trading experience to users while maintaining the security of self custody”, says Gavin McDermott, CEO of Nine Realms. “Unizen already offers a best-in-class experience as a DEX aggregator and we are excited to help them expand their cross-chain routes with native Bitcoin and more.”

About Unizen

Unizen is a cutting-edge operating system for Web3 applications that enables users to seamlessly, cost-efficiently, and securely interact with all things Web3. It is designed to provide a non-custodial, unified user experience for interacting with various Web3 applications and assets, regardless of the underlying blockchain technology. Unizen uniquely solves the complexities, accessibility, costs and interoperability issues plaguing the DeFi space.

Website
Twitter
Discord
Telegram
Instagram
Medium

About THORChain

THORChain is a cross-chain liquidity protocol that facilitates the exchange of native digital assets on multiple blockchains including Bitcoin, Ethereum, BNB Chain, Avalanche, Bitcoin Cash, Litecoin, Dogecoin, and Cosmos Hub. THORChain does not use wrapped assets or external dependencies like oracles. It is permissionless to become a validator, add liquidity, or make a swap. Dozens of wallets, exchanges, and DEX aggregators make use of THORChain’s liquidity to offer in-kind yield and cross-chain swaps to their users.

Website
Medium
Twitter

Contact

Sean David Noga, sean@unizen.io

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Binance.US terminates $1 billion deal for Voyager assets

Binance.US has reportedly terminated its deal for assets of Voyager Digital.
The $1 billion deal had been approved by a US court.
The price of VGX, the native Voyager token, fell more than 10% after the news.

Binance.US has terminated its acquisition deal for the assets of Voyager Digital, according to a tweet posted on the bankrupt crypto lender’s Twitter account.

Today we received a letter from Binance.US terminating the asset purchase agreement. While this development is disappointing, our chapter 11 plan allows for direct distribution of cash and crypto to customers (a “toggle option”) via the Voyager platform,” the announcement read.

1/ Today we received a letter from https://t.co/yG7Airmib5 terminating the asset purchase agreement. While this development is disappointing, our chapter 11 plan allows for direct distribution of cash and crypto to customers (a “toggle option”) via the Voyager platform.

— Voyager (@investvoyager) April 25, 2023

The Voyager token VGX fell more than 10% after the news, trading to lows of $0.317.

The purchase agreement for Voyager assets has been somewhat on and off, with Binance.US first being blocked from the deal by US authorities before a court allowed it to proceed. Despite the latest setback, the Voyager Chapter 11 plan team says the key is to return value to the platform’s customers.

Consistent with the plan, we will now move swiftly to return value to customers via direct distributions. We will provide more information on next steps and any actions customers need to take in the coming days,” the tweet read.

Voyager filed for bankruptcy in July 2022 after a market turmoil amid contagion forced it to halt withdrawals.

Binance.US had not released a statement on the development at the time of going to press.

The post Binance.US terminates $1 billion deal for Voyager assets appeared first on CoinJournal.

Will Shiba Inu Break Out of Dogecoin’s Shadow? Comparing Shiba Inu’s and Metacade’s Price Predictions for 2023-2030

Web3 is a constantly-evolving sector of technology, and blockchains continue to grow in stature. Early-stage crypto investors are constantly on the lookout for the next 100x investment opportunity, as successful projects can post significant gains from their earliest stages of development.

The Shiba Inu price prediction in 2021 led to massive returns for investors as SHIB almost flipped Dogecoin (DOGE) to become the most valuable meme coin in Web3. Investors are now eyeing Metacade (MCADE) as a similar opportunity, but there are some critical differences between the projects that could serve MCADE well over the coming years.

Metacade continues to progress, while the Shiba Inu price prediction targets Dogecoin

Shiba Inu’s price prediction has declined rapidly since it reached its all-time high in 2021. However, it brings a unique set of characteristics compared with Dogecoin, as the Shiba Inu blockchain is compatible with Ethereum Virtual Machine and can support the development of decentralized applications (dApps).

While the Shiba Inu price prediction may struggle to break key resistance areas during 2023, it remains the second-largest meme coin behind Dogecoin. The Shiba Inu price prediction will likely benefit from a layer-2 scalability solution called Shibarium, which means that it could overtake Dogecoin to become number one over time.

Metacade’s token presale raised $16.4m as investors sought to gain a stake in the future of the metaverse arcade. The project is the first community-driven initiative of its kind and will bring vast play-to-earn utility onto the Ethereum blockchain.

Both the Dogecoin and Shiba Inu price predictions have declined since the 2021 bull market, while Metacade represents a fresh opportunity for investors. The native MCADE token has innate utility on the platform, which gives it a natural advantage over popular meme coins.

What is Shiba Inu?

Shiba Inu (SHIB) is a meme coin cryptocurrency that gained a lot of attention when it took the crypto charts by storm during the last bull run.  It is a decentralized community-led token and independent blockchain that was forked from Ethereum. It’s often referred to as the “Dogecoin Killer” due to its big selling point of supporting the Ethereum Virtual Machine (EVM).

Created in August 2020, SHIB grew rapidly as an EVM-compatible alternative to Dogecoin. The token rose to prominence after half of the total supply was airdropped to Vitalik Buterin, who famously burned at least 90% of his tokens – an amount later worth over $6bn. Shiba Inu can support the development of decentralized applications, including DeFi services, play-to-earn games, and much more.

Shiba Inu price prediction 2023: Can SHIB reach $0.00001343?

The Shiba Inu price prediction has weakened considerably since it peaked in 2021. SHIB is currently at a multi-month resistance level and may struggle to break through $0.000012, but could target higher levels before the end of the year if it successfully turns this level into support.

Beyond 2023, SHIB will likely target higher resistance levels as it seeks to reclaim its previous all-time high during the next crypto bull market. Two key resistance areas for the long-term Shiba Inu price prediction are $0.00002 and $0.00003, which SHIB could reach by 2025.

What is Metacade?

Metacade is a newly-launched project that aims to build the largest games arcade on the blockchain. It will contain a vast selection of different play-to-earn games on a single platform, each offering integrated financial rewards to players.

The project’s ethos is to create a central hub for the Web3 community on the Ethereum blockchain. Metacade has several ground-breaking earning mechanics that go beyond gaming, giving arcade users the chance to earn MCADE token rewards in new and exciting ways.

How does MCADE work?

The MCADE token is used for rewards in the Metaverse arcade. The platform will also be home to a range of DeFi services for the MCADE token, including staking to earn a passive income (SOLD OUT) and voting in governance proposals released by the project.

The Metaverse arcade offers casual and competitive gameplay to players, who can earn cryptocurrency rewards while playing solo or by joining paid entry tournaments. These tournaments allow players to go head-to-head to win major crypto prizes.

Metacade’s community hub will also reward content creators for their contributions to the platform through a novel Create2Earn mechanic. This can include posting game reviews, sharing alpha, or interacting with other users’ posts.

Additionally, the platform will advertise open positions at some of Web3’s hottest start-ups through the Work2Earn feature. Metacade’s partner projects will provide job opportunities to the best members, including full-time and part-time positions. Work2Earn will also include short-term gigs, including testing the beta version of new blockchain games in return  for MCADE token rewards.

Can MCADE reach $1 in 2023?

The MCADE token has recently completed its presale and launched on leading digital asset exchanges, including UniSwap and BitMart. It has extensive utility on the Metacade platform and deflationary tokenomics, which could push its price up substantially over the coming years.

The 2023 price prediction for Metacade places the token at the $0.30 price level. This could be a whopping 50% gain from the end of the presale. Heading into the next bull market, experts are forecasting continued gains for MCADE, which could climb to $2 by 2025.

Metacade vs. Shiba Inu price prediction: Which token is worth buying?

Both projects look set to make gains over the coming years. However, Metacade is a brand-new project which will enter price discovery during the next crypto bull market. This makes it an ideal choice for early-stage investors. Meanwhile, the Shiba Inu price prediction continues to underwhelm, and it may struggle to overcome Dogecoin before 2025.

More information about Metacade is available on the project’s website, and the native token can now be traded on the digital asset exchanges, Uniswap and Bitmart, with a listing on MEXC soon.

You can find more information, including on how to buy MCADE, here.

The post Will Shiba Inu Break Out of Dogecoin’s Shadow? Comparing Shiba Inu’s and Metacade’s Price Predictions for 2023-2030 appeared first on CoinJournal.

Three altcoins to hold for 2023: DigiToads (TOADS), Lido DAO (LDO), and Toncoin (TON)

DigiToads (TOADS) offers an innovative approach to the NFT space and a promising investment opportunity.
LDO is the native token of popular liquid staking platform Lido DAO.
Meanwhile, Toncoin’s TON has the potential to benefit from the massive Telegram community and the social media giant’s involvement in The Open Network blockchain. 

From decentralised finance (DeFi) to non-fungible tokens (NFTs), the crypto space is evolving rapidly.

As the markets evolve and cryptocurrency becomes a viable investment option, more and more investors are looking at the next big opportunity. 

While the more established coins like Bitcoin and Ethereum remain top assets for any portfolio, DigiToads (TOADS), Lido DAO (LDO), and Toncoin (TON) offer promising potential for growth and profitability. 

Here is an outlook for the three altcoins and why they may be well-positioned to take advantage of the latest trends. 

DigiToads

DigiToads sits on the top tier of the three altcoins that have the potential to soar in 2023. DigiToads is a decentralized exchange (DEX) built on the Binance Smart Chain (BSC). 

The project aims to provide its users with a fast, low-cost, and user-friendly trading experience while offering them unique benefits, such as liquidity provision incentives and staking rewards. 

DigiToads also features a governance token (TOAD) that allows its holders to participate in the decision-making process of the platform and earn rewards for doing so. 

A big highlight of DigiToads is its presale. The presale of DigiToads is up and going in full swing. 86% of the total TOADS token has already been sold, and we still have time till the end date. 

This presale offers a chance to buy into an exciting new project.

 >> Buy DigiToads Now <<

Lido DAO

Lido DAO is another altcoin on many investors’ watchlists. Lido DAO, founded in December 2020, is a Decentralized Autonomous Organization that facilitates Ethereum liquid staking. The platform seeks to overcome the challenges associated with traditional staking by allowing users to stake their assets without locking them up for prolonged periods. 

The LDO project has swiftly emerged as one of the best liquid staking tokens, attracting over $13 billion in staked assets in less than a year of its launch. 

Additionally, the platform features a referral program that rewards users with LDO tokens for introducing others to stake on the platform. Lido DAO has implemented a safelist feature for its referral program, ensuring that incentives are only distributed to Lido DAO-approved partners.

TonCoin

The Open Network (TON) has its cryptocurrency, Toncoin (TON), and operates as a decentralized Layer-1 blockchain network. The project was initially developed by Telegram before it fully became a community-run platform following legal action by the SEC. 

After a slow start, Toncoin has been experiencing significant activity lately, largely due to Telegram’s recent focus on creating a decentralized blockchain ecosystem.

As a result, Toncoin boasts one of the most extensive crypto communities, with a loyal and bullish following that believes in its potential. The community is committed to supporting the project and remains optimistic about its future success.

In 2023, several crypto exchanges and traders are rating TonCoin highly. So, holding this coin might be a great addition to your portfolio..

DigiToads (TOADS), Toncoin (TON) Lido DAO (LDO): Summary

DigiToads, Lido DAO, and Toncoin are three altcoins investors might want to look at and consider holding for 2023. DigiToads’ innovative approach to the NFT space, Lido DAO’s popular liquid staking platform, and Toncoin’s potential to benefit from Telegram’s involvement in decentralized blockchain ecosystems make them promising investments.

With these features and fundamentals, and the expected growth across the market, TOADS, LDO and TON stand out as among the top cryptocurrencies to invest in 2023. 

If you are looking at DigiToads, you can get more information by visiting their website, join the presale or join the community for regular updates.

The post Three altcoins to hold for 2023: DigiToads (TOADS), Lido DAO (LDO), and Toncoin (TON) appeared first on CoinJournal.

Animoca Brands’ subsidiary TinyTap raises US$8.5 million to disrupt education with Web3

Tel Aviv, Israel, April 25th, 2023, Chainwire

TinyTap, a subsidiary of Animoca Brands and the leading edtech platform for user-generated educational games, today announced that it has raised US$8.5 million from investors including Sequoia China, Liberty City Ventures, Kingsway Capital, Shima Capital, Polygon, GameFi Ventures, and others. The funding will be used to support TinyTap’s business expansion and accelerate development in the edtech space.

The investment will enable TinyTap to continue to expand its successful Web2 platform, which already serves over 9.2 million registered members, into an alternative Web3 education system that better values teachers by improving the earning opportunities available to them, and enables parents and communities to support and promote their preferred educational materials.

TinyTap launched its Web3 strategy in 2022 with two successful auctions of Publisher NFTs, which generated 243 ETH (approximately US$352,000 at times of auction). Publisher NFTs are a new concept introduced by TinyTap to better empower, reward, and incentivize educational content creators and publishers.

Each Publisher NFT represents co-publishing rights to one TinyTap Course, which is a curated bundle of educational games made on the TinyTap platform by one teacher in one specific subject. When these NFTs are sold, the proceeds are shared with the Course creators, and the NFT buyers assume the role of co-publishers. In return for promoting and marketing the associated Courses, the buyers share in the benefits generated from co-publishing efforts.

Since the TinyTap Publisher NFTs were auctioned in Q4 2022, the average income to NFT buyers resulting from their co-publishing efforts amounted to approximately 8.2% (or 19.7% annualized) of the purchase price of the Publisher NFTs*.

The Publisher NFT model is therefore able to simultaneously benefit the creators of educational content, the buyers of the Publisher NFTs, and TinyTap. This frees the creators to focus their efforts on generation of quality content, while TinyTap and the buyers of Publisher NFTs distribute and promote the content.

Misa Matsuzaki owns two Publisher NFTs and earned about $7,823 from November 2022 to March 2024 by co-publishing the associated courses. She commented: “TinyTap helps teachers to actualize great ideas into educational content that can be accessed regardless of location – for example, one of the courses I bought was adapted for Japan. I did the first translation and voice over myself with the help of the TinyTap  team. I look forward to seeing how Japan will welcome these exciting new possibilities in education! I would like to see more use cases like TinyTap Publisher NFTs, which are so much more interesting than just having NFTs sitting in our wallet!“

Yogev Shelly, CEO of TinyTap, commented: “Our Publisher NFTs genesis auctions demonstrated that the Web3 community is well suited and willing to support educators and educational content via this new powerful and equitable incentive system. By pairing educational content creators with interested promoters, we are able to benefit all parties fairly and take a significant step in our goal to put the power of learning back in the hands of educators, students, and the community.”

Yat Siu, co-founder and executive chairman of Animoca Brands, commented: “Teachers and educators are among the most important content creators and contributors in  society, and yet their wages typically do not reflect their critical importance. This is why we’re incredibly excited at the Web3 opportunities that TinyTap is exploring in the field of education. Having already succeeded in building a Web2 education platform, TinyTap is now supercharging its efforts using NFTs, making it possible for educators to better generate equity from their work and link up with co-publishers who can handle the promotion of their courses, all while offering students enhanced learning materials.”

Follow TinyTap on Twitter to keep updated on future developments or visit the Web3 landing page to learn more.

About TinyTap

TinyTap, a subsidiary of Animoca Brands, was founded in 2012 and is the world’s largest educational games library with more than 250,000 activities made by educators and publishers including Sesame Street and Oxford University Press. Games are created using TinyTap’s code-free authoring platform and can be accessed by parents as part of TinyTap’s subscription or sold directly to families as bundles. A portion of subscription revenue is shared with content creators based on the user engagement generated by their content. TinyTap is among the top 10 grossing kids apps worldwide, delivering educational content to families in the US, Canada, Europe, and the Arab world with a focus on young learners (Pre-K to Grade 6), serving 9.2 million registered family members with content created by over 100,000 creators. Learn more at https://www.tinytap.com.

About Animoca Brands

Animoca Brands, a Deloitte Tech Fast winner, a Fortune Crypto 40 company, and one of the Financial Times’ High Growth Companies Asia-Pacific 2023, is a leader in digital entertainment, blockchain, and gamification that is working to advance digital property rights and contribute to the establishment of the open metaverse. The company develops and publishes a broad portfolio of products including original games such as The Sandbox, Phantom Galaxies, Life Beyond, Crazy Kings, and Crazy Defense Heroes, and products utilizing popular intellectual properties including Disney, WWE, Snoop Dogg, The Walking Dead, Power Rangers, MotoGP™, and Formula E. It has multiple subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Forj, Lympo, Animoca Brands Japan, Grease Monkey Games, Eden Games, Life Beyond Studios, Notre Game, TinyTap, Be Media, PIXELYNX, and WePlay Media. Animoca Brands has a growing portfolio of more than 380 Web3 investments, including Colossal, Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Yield Guild Games, Harmony, Alien Worlds, Star Atlas, and others. For more information visit www.animocabrands.com or follow on Twitter or Facebook.

Contact: press@animocabrands.com

Contact

Itai Elizur, itai@marketacross.com

The post Animoca Brands’ subsidiary TinyTap raises US$8.5 million to disrupt education with Web3 appeared first on CoinJournal.

Celo (CELO) blockchain joins Chainlink’s SCALE program

Celo Network announced on Tuesday that it had joined Chainlink’s SCALE program.
The mobile-first, EVM compatible blockchain platform will benefit from high-quality, low cost oracle services.
Chainlink oracle nodes will power Data Feeds on Celo.

Celo (CELO), a mobile-first, EVM compatible blockchain network, has joined the Chainlink SCALE program as it looks to tap into the oracle data and services of Chainlink (LINK) to accelerate Celo ecosystem adoption.

According to a press announcement the Celo Foundation published on Tuesday, the development comes after a community approval of a proposal that outlined the partnership. The Celo governance forum approved the proposal with 99% yes in the on-chain vote in March.

SCALE to boost Web3 mobile applications on Celo

SCALE is a program that seeks to boost sustainable growth for L1 and L2 blockchains by providing developers access to high-quality, but low-cost oracle services.

“Through the strategic deployment of resources, Celo will cover operating costs for Chainlink oracle nodes powering Data Feeds on the Celo Network. As the Celo ecosystem expands, dApp fees can eventually cover the full operating costs of Chainlink nodes,” Chainlink announced via its official Twitter account.

Joining the initiative does not just give Celo developers access to industry-leading oracle services; it means projects can now look to minimized gas fees, with Celo able to support development of next-generation mobile applications.

Xochitl Cazador, Head of Ecosystem Growth at the Celo Foundation, said the collaboration is a key step towards long-term sustainability for the blockchain.

Developers building on Celo now have access to Chainlink’s oracle services, enabling the next generation of highly scalable Web3 mobile applications. We welcome Chainlink to the Celo community and look forward to the continued growth and collaboration between our communities.”

The post Celo (CELO) blockchain joins Chainlink’s SCALE program appeared first on CoinJournal.

Crypto vs stocks: legendary investor Peter Lynch takes a side

Peter Lynch reveals that he does not own any cryptocurrency.
He’s sticking to his ‘buy what you know’ investment strategy.
Lynch regrets not investing in Apple and Nvidia in recent years.

Bitcoin has massively outperformed equities since the start of this year but legendary investor Peter Lynch continues to prefer the latter.

Lynch does not own any cryptocurrency

On Tuesday, the Vice Chairman of Fidelity Management & Research confirmed that he’s not exposed to cryptocurrencies.

Interestingly, Lynch is familiar with the technology that powers the crypto space. Still, he said today on CNBC’s “Squawk Box”:

I do understand blockchain. I know how it works. But what bitcoin is going to be, I have no idea. I don’t own any bitcoin or ether coin.

Lynch is keeping away from BTC even though he knows the total supply of it will be cut in half next year – an event that usually translates to higher price.

Lynch is sticking to ‘buy what you know’

Bitcoin has now slipped back to the $27,000 level but is still keeping above a key support suggesting the bullish sentiment is still there.

But for years, Fidelity’s Peter Lynch has recommended that investors “buy what they know” – and to him, that means stocks. Explaining how to pick stocks and when to pull out of them, he said:

Look at the company, the balance sheet. What’s the reason stock should be higher? When companies go from crappy to semi-crappy to good, stock goes up. When business gets terrific, get out.

Lynch expressed regret today for not investing in a number of large-cap tech companies in recent years, particularly Apple Inc and Nvidia Corporation.

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As XRP price moves into a bear market, is it safe to buy the dip?

XRP price has come under intense pressure in the past few days as the recent crypto comeback started fading. Ripple dropped to a low of $0.4384, which is about 21% below the highest point this month, meaning it has moved to a bear market. 

Why is Ripple falling?

XRP price is falling because of its close correlation with Bitcoin, the biggest cryptocurrency in the world. In most periods, altcoins like XRP and ADA tend to rise when Bitcoin is rising and vice versa. Therefore, since there have been no major Ripple news, we can cite the recent decline to the overall decline of BTC. 

This price also mirrors the performance of American stocks. The Nasdaq 100 index has moved sideways in the past few days and is about 1.78% below the highest point this month. In most periods, cryptocurrencies also have a correlation with American stocks.

The next key Ripple news to watch will be the upcoming verdict in the ongoing civil lawsuit by the Securities and Exchange Commission. The SEC alleges that Ripple violated securities laws when it sold XRP to investors without registering with the agency.

It is still unclear when the judge will deliver the court’s verdict. It is also unclear how XRP will react to the verdict. However, I believe that the end of the case will be positive for Ripple because I suspect that the outcome will be a fine or an exoneration.

Meanwhile, Ripple recently launched the Ripple Liquidity Hub as it seeks to provide more solutions to businesses. The service is making it possible for businesses to access simple and seamless ways to manage liquidity needs. It is also enabling people to manage fiat, cryptocurrencies, and CBDCs among others.

XRP price prediction

The 4H chart shows that the Ripple price has dropped sharply after hitting the key resistance point at $0.5826 on March 29. The coin has flipped the key level at $0.5568 from a support into a resistance. It has moved to the 25-day and 50-day exponential moving averages. Ripple has moved slightly above the key support at $0.4326, the highest point on January 22. 

It has also formed a small bearish pennant pattern. Therefore, for now, there is a likelihood that the coin will have a bearish breakout as sellers target the key support level at $0.400, which is about 12% below the current level.

How to buy Ripple

Bitstamp

Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.

Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.


Buy XRP with Bitstamp today

Binance

Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.

Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.


Buy XRP with Binance today

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Coinbase sues SEC, Ark Invest buys $8.6m in Coinbase stock

Key takeaways

Crypto exchange Coinbase has filed a lawsuit against the Securities and Exchange Commission (SEC).

Coinbase wants the agency to provide a yes or no to Coinbase’s request for the commission to draft and approve a digital asset-specific rule.

Cathie Wood’s Ark Invest has purchased $8.6 million worth of Coinbase stock.

Coinbase sues US SEC

Coinbase, one of the leading crypto exchanges in the United States, has filed a lawsuit against the United States Securities and Exchange Commission.

The lawsuit comes after the crypto exchange filed a petition with the SEC last summer. Coinbase wants the securities regulator to provide a yes or no to its request for the commission to draft and approve a digital asset-specific rule.

Coinbase’s chief legal officer Paul Grewal wrote in a blog post on Monday, stating that;

“From the SEC’s public statements and enforcement activity in the crypto industry, it seems like the SEC has already made up its mind to deny our petition. But they haven’t told the public yet. So the action Coinbase filed today simply asks the court to ask the SEC to share its decision.”

The crypto exchange can also file another lawsuit to try to make a federal court force the SEC to make a new rule if the regulatory agency declines.

The SEC and Coinbase are currently in what could become a long legal battle. Last month, the SEC served Coinbase with a Wells Notice, indicating that it is looking into Coinbase’s activities for potentially violating U.S. securities laws.

Coinbase’s CEO revealed last week that the crypto exchange could relocate to another country if the regulatory unclarity in the United States persists. 

Ark Invest loads up on Coinbase stock

Ark Invest, an American investment management firm run by CEO Cathie Wood, continues its buying spree of Coinbase’s stock. The ARK Innovation ETF purchased 122,083 shares in Coinbase, the ARK Fintech Innovation ETF, meanwhile, bought 14,633 shares, while the ARK Next Generation Internet ETF added 20,327 shares, totalling $8.6 million.

Cathie Wood’s Ark Invest remains one of the biggest Coinbase shareholders despite selling $13.5 million worth of the stocks last month. 

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“Crypto is dead in America,” tech investor Chamath Palihapitiya says

Chamath Palihapitiya, a top tech investor and crypto bull, says regulators have killed crypto in the United States.
He notes that regulators have their guns trained at crypto, highlighting regulatory uncertainty and the crackdown on crypto companies. 
Palihapitiya said in 2021 that Bitcoin had replaced gold, predicting that BTC would rise to $200,000.

Tech billionaire Chamath Palihapitiya, a long time bitcoin bull who once predicted the price of the flagship cryptocurrency will rise to $200,000, saying BTC had replaced gold, has commented on the state of the crypto industry in the United States.

He says the regulatory uncertainty has killed the crypto innovation in the country.

Crypto dead in the US thanks to regulators

In comments shared via an episode on the All-In podcast, Palihapitiya warned that “crypto is dead in America.” 

The venture investor’s remarks came a few days after the crypto industry largely criticized the overall outlook of the crypto regulation in the US following SEC Chair Gary Gensler’s appearance during a congressional hearing.

According to Palihapitiya, regulators are largely to blame for crypto’s demise in the country, highlighting Gensler’s comments that appeared to connect crypto to Silicon Valley Bank’s collapse. Blaming the recent banking crisis on the crypto sector was the US authorities having their guns firmly pointed at crypto, the investor said.

US regulators have over the past few months tightened their crackdown on crypto, with crypto exchanges Coinbase, Kraken, Bittrex among those targeted.

While Coinbase CEO Brian Armstrong recently said the company could relocate if the regulatory environement did not improve, Bittrex plans to wind down its US operations following the SEC charges citing regulatory uncertainty. 

Coinbase also sued the SEC on Monday with the complaint against the agency relating to a rule making petition the exchange filed in July 2022.

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