On Monday, Twitter founder Jack Dorsey gave an interview on a YouTube channel. Jack Dorsey added that Elon knows deeply about the social media platform. Twitter founder Jack Dorsey has given his first interview since stepping down from the board last year. He hopes that the social media platform Twitter adopts technology like Nostr and the world’s largest cryptocurrency by market capitalization, Bitcoin. On Monday, Jack Dorsey gave an interview on a YouTube channel. In the interview, Jack stated that Elon Musk’s run as Twitter CEO was fairly reckless. Moreover, he discussed several topics, including endorsing presidential candidate Robert F. Kennedy Jr., his concerns about artificial intelligence, and Musk’s time running the social media platform. Jack mentioned that he asked Elon Musk to join Twitter’s board many times before he bought Twitter. Moreover, he added that Elon knows deeply about the social media platform because he is a technologist. Jack didn’t mention any specific Twitter features in the interview. Elon Musk introduced a lot of new features to the social media platform. It includes paid Twitter blue check marks and subscriptions. Jack has expressed his opinion about appointing new CEO Linda Yaccarino. He has confidence in Elon’s move as CEO. Jack added that he still owns three percent of this new company.

Token unlocks may influence supply dynamics. Market volatility is expected as tokens are unlocked. Investor sentiment will play a crucial role in post-unlock price movements. As the cryptocurrency market continues to evolve, several prominent tokens are scheduled for major unlocks in the coming week. These unlocks have the potential to significantly impact the supply and market dynamics of the respective cryptocurrencies. Let’s take a closer look at some of the notable token unlocks scheduled for the upcoming days. Key Token Unlocks to Watch Out For On June 14th, Filecoin (FIL) is set to unlock approximately 5.56 million tokens, valued at $19.1M. This represents 0.28% of the total supply. While the amount may seem relatively small, such unlocks can still influence the supply dynamics of Filecoin. Moreover, this is potentially affecting its market value. Similarly, on June 15th, BitDAO (BIT) will unlock 187 million tokens, valued at $79.3M. This significant supply release represents 1.88% of the total supply. Such a substantial unlock has the potential to introduce a considerable number of tokens into circulation, which may lead to increased market volatility. On the same day, BLUR (BLUR) will unlock 198 million tokens, valued at $64.8M, representing 6.62% of the total supply. Concerning the unlock, accounting for a significant portion of the supply, could have a profound impact on BLUR’s price and overall market sentiment. On June 16th, UNISWAP (UNI) will release 8.33 million tokens, valued at $34.5M, comprising 0.83% of the total supply. Although the unlocked amount is relatively smaller compared to other tokens, UNISWAP’s unlock is noteworthy due to its prominence in the decentralized finance (DeFi) ecosystem. Furthermore, TheGraph (GRT) is set to unlock 89.4 million tokens on June 17th, valued at $8.9M. However, this amounts to 0.89% of the total supply. While the value may not be as substantial, the unlock may still have implications for TheGraph’s market performance. On the same day, ApeCoin (APE) will unlock 15.6 million tokens, valued at $35.5M, constituting 1.56% of the total supply. The release of this sizable amount may generate market volatility as investors react to the increased supply. Additionally, ImmutableX (IMX) will unlock 18.1 million tokens, valued at $11.1M. Meanwhile, this is accounting for 0.91% of the total supply, on June 17th. The unlock of ImmutableX tokens is expected to attract attention from both traders and long-term investors alike. Finally, on June 18th, LIDO (4LDO) will unlock 7.92 million tokens, valued at $14.4M, representing 0.79% of the total supply. The unlock of LIDO tokens may lead to market fluctuations as market participants assess the implications of the additional tokens in circulation. The upcoming token unlocks for BIT, BLUR, APE, UNI, FIL, and other cryptocurrencies are anticipated to bring both excitement and uncertainty to the market. These unlock will likely influence the supply dynamics, market sentiment, and trading activity surrounding these tokens. Traders and investors should carefully consider the implications of these releases. However, they navigate the ever-evolving landscape of the cryptocurrency market.

SINGAPORE–(BUSINESS WIRE)–BinaryX announced their plans to expand into Virtual Reality (VR) and Artificial Intelligence Generated Content (AIGC). Building upon their GameFi expertise, BinaryX has reportedly entered into agreements with their VR and AIGC partners, AiGC Labs, to develop a groundbreaking new GameFi genre of AI-based VR games. First AI-Powered Virtual Reality Game on the Metaverse According to the team, BinaryX is preparing to launch the first-ever VR game which heavily features both VR and AIGC in collaboration with AiGC Labs. The team has not released the full details of the game yet, but has hinted that the game will be set in a character-rich universe inspired by heroes and characters from East Asian folklore. This comes just after Apple’s official reveal of their VR headset, Apple Vision Pro, during the Worldwide Developers Conference event on June 5. Using ChatGPT and GameGPT for Game Design The team revealed that they have been experimenting with ChatGPT to generate engaging gameplay and characters, and build compelling narratives for their games. The AI models helped the team explore and refine ideas for world-building, including ideas for environmental layout, challenges, and level design. Beside the AI-powered VR game, BinaryX has also been working on a separate AI-powered game that will be released sometime this year. “We are incredibly excited to unveil our latest venture into VR and AIGC technologies,” said Rudy, Head of Growth at BinaryX. “This is a significant milestone for our companies as we continue to push the boundaries of innovation in the Web3 gaming industry. Together with our partners, our team has poured talent and dedication into creating a game that will redefine the gaming experience and captivate players like never before. We’re excited to reveal the game to our players soon.” The game is currently still under development, and more details about the release will be shared on their social media. About BinaryX BinaryX is a GameFi and IGO platform, the force behind popular blockchain games such as CyberChess, CyberDragon, and CyberLand. These games run on the BNB Chain. For more details and information about BinaryX, please visit www.binaryx.pro About AiGC Labs AiGC Labs is an AI Web3 DAO, which brings together more than 100 technical experts worldwide to develop AIGC’s underlying technology, protocols and application layer settings. Contacts Contact: Kora Kim Email: [email protected]

Polygon NFTs are now available on Kraken NFT. Currently, enabling Reddit Collectible Avatars for purchase. Following the announcement of Kraken launching in the world of NFT, Polygon NFTs are made available on Kraken NFT, the marketplace to buy, sell and trade all NFTs (Non-Fungible Tokens). Additionally, the users or the investors can invest in Polygon NFTs through the Polygon network thereby they can collect the Reddit Collectible Avatars. More About the Launch To bring a massive chance of building an effective NFT adoption, Reddit Collectible Avatars is been launched. Reddit has user accounts of billion on a monthly basis where it offers millions of collectibles that investors. There are over 250+ collections made available on Reddit for trading. Subsequently, the Polygon NFTs can be purchased on Kraken with zero gas fees for crypto and cash. Being a scalable NFT blockchain, Polygon helps investors to trade collections with a reduced transaction fee. Meanwhile, the collaboration of launching Polygon NFTs on Kraken NFT is highly impacting the investors to trade them including the selective Reddit Collectible Avatars. This has created the hottest collection this Monday, in the crypto market. Recommended For You: Top 10 NFT Marketplaces Ranked by Trading Volume

North Korean hackers stole $3 billion via sophisticated digital impersonations. Illusionary workforce tactics led to a $600 million gaming platform breach. Escalating cyber deceptions signal an urgent need for advanced cybersecurity measures. In a scenario akin to a James Bond movie, North Korean hackers have outsmarted the globe. Within five years, they have stolen $3 billion in cryptocurrencies. Notably, this digital bonanza funds half of North Korea’s missile program, reports the Wall Street Journal. Their tactics, however, are far from common cyber-thievery. Disguising themselves as recruiters, IT workers, or government officials, these shadow cyber criminals have infiltrated the most unsuspecting targets. Moreover, in one high-profile case, they breached the digital pets game platform Axie Infinity in 2021. Posing as a job recruiter, a hacker infiltrated Sky Mavis, Axie’s parent company. This charade enabled them to abscond with $600 million from unsuspecting gamers. The Art of the Cyber Deception In a marked escalation of sophistication, hackers also masquerade as international tech experts. Japanese blockchain developers or Canadian IT professionals, for example. This illusionary workforce lures in unsuspecting victims, sometimes even offering lucrative salaries of up to $300,000 annually. In some instances, they ingeniously secure employment in the companies they aim to hack. Once inside, they subtly tweak products to create exploitable vulnerabilities. In addition, these digital imposters have sparked a race against time for companies globally. Each firm is pitted in a relentless struggle to outwit these invisible adversaries. One source even described this battle as an “arms race,” where the sophistication of the tactics employed by North Korean hackers is escalating exponentially. In conclusion, the digital currency world has never faced a more cunning or resourceful adversary. This saga, involving deceit, manipulation, and billion-dollar heists, demonstrates the urgent need for heightened cybersecurity measures worldwide. The stakes have never been higher, and the world watches as this digital drama unfolds. Disclaimer: The opinions expressed in this article are solely those of the writer and not of this platform. The data in the article is based on reports that we do not warrant, endorse, or assume liability for.

JPMorgan accepted a settlement for resolving the lawsuit against them. More than 120 victims are getting a legal judgment for their loss. JPMorgan Chase & Co, the financial services in New York City, America has been alleged to pay a tentative settlement of around $290M. This is due to the lawsuit raised against them and resolving the sexual abuse victims of Jeffrey Epstein, a financier. However, this Monday, the claim has been recorded as a result of the federal lawsuit documented a year ago. Following the judgment of proceeding the case as a class-action lawsuit in Manhattan’s District Court, United States, the settlement is announced. Meanwhile, one of the lawyers, David Boies condemned that the bank agreed to the payment resolving the lawsuit. Also, there was no such agreement signed by JPMorgan as it will be added in the court filing, in the coming week. More About the Case & Lawsuit Back in 2019, Epstein was accused of a sexual crime against him and prisoned in Manhattan jail. He then killed himself soon after his arrest. Correspondingly, the CEO of JPMorgan, Jamie Dimon was doubted for having a connection with Epstein. Thereby, JPMorgan is facing a lawsuit raised against them by U.S. Virgin Islands. JPMorgan has been ignoring the alerts given against Epstein for his illegal sexual offense over women of different ages from a teenage girl. The lawsuit reached for JP Morgan said that the bank has ignored all the red flags of the client Epstein as he was termed as a high-status client. Later on in 2006, as per the reports claimed, Epstein is termed a ‘high-risk client’. Moreover, the reports added the unusual withdrawals and the evident payments to young girls. As of now, JPMorgan said: Also, the lawyer Boies said: Moreover, there are 120+ victims affected and are getting paid as a result of the judgment so far. The lawyers proclaimed that the victims should be justified though the case retains long years.

The university plans to launch an independent XRP ledger validator. The collaboration improves the crypto hub in Toronto. Ripple’s University Research Blockchain Initiative (UBRI) has announced its partnership with the University of Toronto. Ripple (XRP) has continuously taken steps to show its commitment to encouraging talent and innovation in the Canadian region. It especially improves the crypto hub in Toronto. The partnership strengthens Ripple’s ties to Canada. The university plans to launch an independent XRP ledger validator. Moreover, it will play a major role in recruiting XRPL campus ambassadors in the future. The new UBRI partnership will help grow important blockchain and crypto technology research in Canada. At the same time, the partnership provides students with opportunities to learn technical skills for a crypto-native career. Ripple’s Contribution to Canadian Universities As part of the collaboration, UBRI aims to support research and development. According to the report, UBRI has invested $2 million in top-tier Canadian universities over the five years since its launch. This is to encourage innovation and growth in blockchain-based research and education. Now the University of Toronto joins the current URBI partners, the University of Waterloo and Toronto Metropolitan University. Professor Atefeh Mashatan, Director of the Cybersecurity Research Lab at Toronto Metropolitan University, Stated Moreover, Ripple’s unwavering dedication to encouraging talent and innovation in the Canadian region is evident through its continuous efforts. By actively supporting the top universities, Ripple has played a significant role in encouraging technological advancements in Canada through various initiatives and collaborations.

Polygon 2.0 aims to be the Internet’s ultimate Value Layer. Community engagement drives Polygon’s transformative evolution. Polygon 2.0 offers unlimited scalability and unified liquidity via ZK tech. Today stands as a pivotal moment in the advancement of blockchain technology with the announcement of Polygon Labs’ bold initiative, Polygon 2.0. Far from being a simple upgrade, this initiative represents a comprehensive overhaul, completely transforming all facets of the Polygon platform. A Bold Vision for the Internet’s Value Layer With a simple yet profound vision, Polygon seeks to become the Value Layer of the Internet. Besides facilitating the creation and exchange of information, the Internet is now poised to allow anyone to create, program, and exchange value. However, this monumental transition is not merely conceptual. Polygon 2.0, in effect, is a blueprint meticulously crafted to make this a reality. The updates, hence, extend from protocol architecture to tokenomics and governance. These changes mark the roadmap for Polygon’s metamorphosis into the Value Layer, offering unlimited scalability and unified liquidity via Zero-Knowledge (ZK) tech. Community Engagement: Fueling the Evolution On the flip side, the success of Polygon’s undertaking hinges significantly on the proactive involvement of its user base. In the coming weeks, the team at Polygon Labs will disclose a comprehensive breakdown of all elements encompassing Polygon 2.0. To make this information more accessible, they will disseminate these insights via a stream of blog entries, Ask Me Anything (AMA) sessions, and more. Significantly, the community will learn about the future of the Polygon PoS chain, the evolution of its native token, and a transition towards more excellent community governance. Furthermore, the process will facilitate more effective management of the protocol and treasury, marking an essential step toward democratizing the platform. In essence, Polygon 2.0 marks the dawn of a new era. Moreover, Polygon Labs calls upon its community to engage, understand, and contribute to this transformation.

Polygon’s zkEVM Beta achieves 100K unique wallets, reflecting growing popularity and adoption. The exponential increase in unique wallets showcases Polygon’s ability to attract diverse users. Competition in the blockchain space emphasizes the need for continuous innovation from Polygon. Polygon’s zkEVM Beta has achieved a significant milestone, as it now boasts an impressive count of 100,000 unique wallets. This accomplishment is a testament to the platform’s growing popularity and the increasing adoption of its technology. Moreover, reaching 100,000 unique wallets on Polygon’s zkEVM Beta has significant implications for the platform’s future growth. Consequently, it demonstrates users’ trust and confidence in the platform’s capabilities. The exponential increase in unique wallets signifies the platform’s ability to attract and engage diverse users. This achievement is significant in terms of numbers and showcasing the effectiveness and reliability of Polygon’s zkEVM Beta. 100K Unique Wallets Solidify Polygon’s Position However, amidst this success, Polygon must remain vigilant. The competition in the blockchain space is fierce, and sustaining growth requires continuous innovation and enhancement of offerings. Hence, Polygon must keep pushing boundaries to maintain its position as a leader in the industry. Additionally, the 100,000 unique wallets on Polygon’s zkEVM Beta highlight the platform’s success and underscore the growing acceptance of blockchain technology. This milestone solidifies Polygon’s position as a critical player in the blockchain ecosystem. The platform’s offering has resonated with users, driving them to engage and explore its functionalities. Moreover, the value users perceive in Polygon’s zkEVM Beta is evident from this achievement. The increasing adoption of technology significantly contributes to the platform’s overall success. Reaching 100,000 unique wallets on Polygon’s zkEVM Beta is a remarkable accomplishment. It demonstrates the platform’s appeal, effectiveness, and potential to shape the future of decentralized finance. With this milestone, Polygon is well-positioned to capitalize on the growing interest in blockchain technology and continue its upward trajectory in the industry.

PawChain revolutionizes blockchain with innovative utilities and user-centric design. PawAggregator, PawDAO, and PawWallet redefine the crypto experience for enthusiasts. PawChain empowers users with decentralized governance and secure, user-friendly wallets. The cryptocurrency ecosystem welcomes a new game-changer as PawChain reveals an array of services set for public alpha release. The PawChain team stands poised to significantly reshape the blockchain landscape, proving that innovation still thrives in this ever-evolving industry. PawChain: Innovation at Its Best PawChain, represented by its token PAW, ushers in a fresh wave of innovation. The team’s commitment to launching a fully-functional platform from day one is remarkable. Besides featuring the essentials of a cryptocurrency, PawChain transcends the norm by integrating multiple utilities into its framework. Consequently, this creates an immersive and interactive platform for users. Groundbreaking Services from PawChain At the heart of PawChain’s innovative prowess lies a trio of tools: PawAggregator, PawDAO, and PawWallet. These applications aim to transform the user experience, providing a comprehensive suite of functions for digital currency enthusiasts. The PawAggregator is a unique system offering users streamlined access to relevant cryptocurrency data. Hence, this function will enable individuals to make informed decisions in real-time, contributing to an efficient trading experience. PawDAO, on the other hand, is PawChain’s approach to decentralized governance. This revolutionary feature gives token holders the power to influence the direction of the platform. Moreover, it underscores this commitment to community empowerment and decentralization. Finally, the PawWallet provides a safe, user-friendly hub to store, send, and receive PAW. The wallet prioritizes user convenience and safety, offering a seamless interface and reinforcing the brand’s mission to create a secure crypto environment. In conclusion, PawChain’s innovative services and commitment to user experience set a new standard in the crypto world, revolutionizing blockchain utilities and empowering the community.

Tether completes its second $1 billion issuance in two months, reaching over $16 billion in 2023. The recent issuance on the Ethereum blockchain is categorized as “replenishment” and will not impact USDT’s market capitalization. Chain swapping is crucial for Tether to maintain balanced USDT liquidity across different blockchains. Tether, the prominent stablecoin issuer, has recently completed its second $1 billion issuance within two months, bringing the total amount issued in 2023 to over $16 billion. The transaction occurred on June 12, utilizing the Ethereum blockchain. Paolo Ardoino, Tether’s Chief Technology Officer (CTO), took to Twitter to clarify that this latest issuance falls under the category of “replenishment” on the Ethereum network. Ardoino emphasized that this issuance would not impact USDT’s overall market capitalization, representing an “authorized but not issued” transaction. The newly generated funds will serve as reserves for future issuance orders and chain swaps. Chain swapping, a process enabling the transfer of digital assets between different blockchains, plays a vital role in Tether’s operations. The company collaborates with numerous cryptocurrency platforms to maintain balanced USDT liquidity across blockchains. Through chain swaps, exchanges can effectively transfer excess USDT from one blockchain to another, addressing liquidity deficits and facilitating withdrawals. Tether’s Growth Reinforces Stablecoin Supremacy Throughout 2023, Tether introduced over 16 billion new USDT tokens, leading to a market capitalization exceeding $83 billion. The stablecoin’s dominance in the market has reached unprecedented heights this year, while other stablecoin issuers have grappled with regulatory and banking challenges within the United States. The market capitalization of USDC, the second-largest stablecoin, came close to surpassing that of USDT in 2022. However, due to the prolonged crypto winter and banking complications, market confidence in USDC has significantly weakened in 2023. Circle’s CEO, Jeremy Allaire, attributed the decline to mounting pressure from US regulators on the cryptocurrency sector. Tether’s continuous issuance and market capitalization growth underscores its resilience and adaptability in the ever-evolving cryptocurrency landscape. By strategically managing liquidity and actively engaging with various blockchains, Tether ensures a seamless experience for traders and exchanges, reinforcing its position as a leading stablecoin provider. As the year progresses, industry observers eagerly anticipate further developments in the stablecoin sector as it continues to shape the broader cryptocurrency ecosystem. Recommended For You: Robust Demand for Tether (USDT) in Turkey Amidst Lira’s Struggles

The controversial bill seeks to oust SEC Chair, Gary Gensler. Supporters argue for a more innovation-friendly regulatory environment. Critics raise concerns about disrupting ongoing regulatory efforts. In a recent development that has sent shockwaves through the financial and political sectors, a US Congressman introduced legislation calling for removing Securities and Exchange Commission (SEC) Chair Gary Gensler. The move has ignited a heated debate among lawmakers, industry professionals, and the public at large. The introduction of this legislation has sent shockwaves through various sectors, as the role of the SEC and its Chair is considered vital for maintaining the integrity and stability of the nation’s financial markets. Congressman’s Move to Dismiss SEC Chair Sparks Controversy The proposed legislation alleges that Chair Gensler has failed to effectively regulate the financial markets and protect investors’ interests during his tenure. The proposed legislation highlights concerns over Gensler’s approach to cryptocurrency regulation, market transparency, and potential conflicts of interest. Congressman Doe contends that Gensler‘s leadership style has hindered innovation and impeded economic growth. The proposed legislation has created a divide among legislators, with supporters lauding Doe’s efforts to hold the SEC accountable for its actions and push for change. Proponents argue that Gensler’s leadership has been overly restrictive, stifling innovation and creating uncertainty in the markets. They believe that a change in leadership would pave the way for a more balanced and progressive regulatory environment. On the other hand, critics of the laid legislation argue that Gensler has been proactive in addressing key issues such as market manipulation, insider trading, and the protection of retail investors. They contend that removing Gensler would disrupt ongoing regulatory efforts and undermine the SEC’s ability to safeguard the integrity of the financial system. Moreover, some industry insiders fear that a leadership vacuum at the SEC could create additional volatility and uncertainty in an already unpredictable market. The proposed legislation has raised important questions about the role of the SEC and the balance between investor protection and market innovation. As the debate unfolds, lawmakers will be faced with the challenging task of determining the best course of action for the future of financial regulation in the United States.

SHIB is struggling to keep its momentum. The price has dropped considerably over the past few weeks. SHIB price drop can be attributed to the recent SEC lawsuit and its effects. The Shiba Inu token (SHIB), previously hailed as the “Dogecoin Killer,” is currently facing challenges as the cryptocurrency market contends with regulatory scrutiny. SHIB has experienced a decline of approximately 20% in its value, resulting in a price level of $0.000006 and diminishing its profitability to a modest 7%. Consequently, SHIB has become one of the less performant tokens in the current market. Shiba Inu’s price drop, thanks to SEC? The recent lawsuits by the SEC against Coinbase and Binance have seemingly had an impact on the broader market, including Shiba Inu. These legal disputes have generated uncertainty and triggered a widespread sell-off of various digital assets, as investors adopt a cautious approach due to regulatory concerns. SHIB’s selling volume has witnessed a notable increase, indicating a bearish market sentiment. This sudden surge in selling activity highlights the challenges associated with holding SHIB as an asset. Additionally, these developments have raised concerns about the future prospects of Shiba Inu. In terms of market performance, Shiba Inu had previously exhibited remarkable resilience. During the 2021 bull run, it surpassed expectations by achieving gains exceeding 2,000,000%. Its substantial rally and enthusiasm surrounding the meme coin garnered significant market attention. However, recent market dynamics appear to have worked against it in the past few years.

Last year, Galaxy abandoned a $1.2 billion bid to purchase BitGo. Due to BitGo’s refusal to submit the financial documents in time, the court favored Galaxy. A lawsuit filed against Galaxy Digital, a cryptocurrency investment business, was recently rejected, meaning that it would not have to pay damages related to its broken acquisition deal with crypto custodian BitGo. When announcing the court’s decision to throw out the lawsuit, Galaxy said that it was “pleased” with the result. The firm tweeted: Last year, Galaxy Digital, backed by seasoned Wall Street investor Mike Novogratz, abandoned a $1.2 billion bid to purchase BitGo. The corporation said it made the call because the target of its purchase had missed a deadline for submitting audited financial accounts. BitGo, however, has said that it would sue Galaxy since the merger deal is not set to expire until the end of the year. Due to BitGo’s refusal to submit the financial documents, a vice chancellor of the Delaware Chancery Court ruled last week that Galaxy had a “valid basis” to terminate the proceedings. Backed Out of Merger Due to Losses Claim The $1.2 billion acquisition of BitGo by Galaxy was initially announced in May of 2021. If the deal had gone through, it would have been one of the largest in the cryptocurrency sector. In May of 2022, Galaxy said that closing on the deal was anticipated by the end of the year. Then, in August, it said the transaction was off. Galaxy had already revealed $554 million in unrealized losses on its crypto assets for the second quarter of that year, thus this news came only a week after that disclosure. BitGo filed a lawsuit in the Delaware Chancery Court back in September, alleging that Galaxy backed out of the merger because of its losses and its aspirations to go public. BitGo was demanding $100 million in damages.

Some communities, including major crypto subreddits, have opted to go private for 48 hours. One of the modifications is a restriction on users’ ability to freely use APIs and other tools. As a form of protest against Reddit’s contentious charges against developers of third-party applications, some communities, including major crypto subreddits, have opted to go private for 48 hours. Five of the top 10 communities on the site, with memberships of more than 30 million people each (r/gaming, r/aww, r/Music, r/todayilearned, and r/pics), are among the 3,489 subreddits that have gone black in protest. High Fees for Using APIs Moderators play a crucial role in the operation of Reddit. However, in April, the social media business revealed that it will be updating its interface. One of the modifications is a restriction on users’ ability to freely use APIs and other tools. Before Reddit’s official app was released in 2016. Users had to rely on third-party applications like Apollo, Reddit is Fun, Sync, and ReddPlanet. In order to access the site from their mobile devices. Now, Reddit has implemented a set of fees for programmers who desire to keep using its Application Programming Interface (API). It is the back-end code that enables third-party applications to discover and display content from Reddit. Because of Reddit’s increased API fees, all four of these applications have announced they would be closing down. Popular crypto subreddits such as r/Bitcoin, r/CryptoCurrency, and r/Cardano are vocally opposing the move. Between June 12 and 14, hundreds of subreddits, including these, will be locked or restricted to readers only in protest of the changes. In addition to planning for an IPO, Reddit is demanding that developers pay $12,000 for 50 million requests. The developer working on Apollo estimated that using Reddit’s APIs would cost his company $20M annually. The community is asking Reddit to take back the modifications, and the protest might go longer than 48 hours on certain subreddits.

Mark Cuban shows support for the crypto community. Former SEC cyber chief Robert Cohen says SEC’s classification of crypto as securities seems random. The SEC filed a lawsuit against Binance and Coinbase. Mark Cuban, renowned billionaire, co-host of Shark Tank, and owner of the Dallas Mavericks basketball team, recently retweeted an article that discusses former SEC cyber chief Robert Cohen’s critique of current SEC chair Gary Gensler regarding his actions against crypto companies. Cuban’s retweet signifies his support for the crypto industry and his call for clear regulations to be established in the United States. The SEC’s recent actions have led to the departure of numerous crypto exchanges from the country. The article shared by Cuban is based on an interview with Cohen conducted by crypto podcaster Laura Shin. The interview took place after the SEC filed charges against prominent U.S.-based exchanges Coinbase and Binance.US, alleging violations of securities laws. Cuban showers support for crypto industry Gensler has consistently referred to several cryptocurrencies as unregistered securities while refraining from commenting on the status of other cryptocurrencies like Ethereum. This has caused frustration within the crypto community, which is dissatisfied with the SEC chair’s regulatory stance on crypto. Cohen acknowledged that there appears to be an element of randomness in the SEC’s selection of tokens to classify as securities, which he believes is somewhat unfair. He noted that while the SEC mentions 10 or 12 tokens, there could be a hundred others that could have been classified similarly. Cohen expressed his concern about the impact of the SEC’s actions, emphasizing that they affect not only businesses but also individuals involved with them. He stated that the SEC’s actions create unwarranted suspicion and acknowledged that when a token is labeled as a security, it implies that something wrong has occurred. Cohen also expressed doubt that the SEC will ultimately establish a definitive rule regarding the classification of securities in the crypto space.

BOCI has issued the country’s first tokenized security on the Ethereum blockchain. BOCI and UBS have taken new steps in terms of applicable regulations. BOCI, a Chinese bank, has issued CNH 200 million in digitally structured notes. BOCI has issued the country’s first tokenized security on the Ethereum blockchain. Moreover, it has become the first bank in China to issue tokenized securities. According to the report, the new security was implemented through the collaboration between the investment banking company UBS and BOCI. The product was originated by UBS and placed with its clients in the Asia Pacific region. And also, UBS has marked a long-term collaboration with the Chinese bank in the space of digital structure notes. BOCI’s Advancement in the World of Digital Assets BOCI and UBS have taken new steps in terms of applicable regulations and blockchain types by issuing the first digital securities. Recently, the digital asset market has experienced lots of ups and downs. The U.S. SEC has continuously filed lawsuits against the top crypto exchanges. On the other side, China has taken a new step forward in the world of digital assets. BOCI and UBS have successfully introduced regulated securities onto the public blockchain. Moreover, this transaction marks the first product in the Asia Pacific constituted under Hong Kong and tokenized on the main Ethereum blockchain. Ying Wang, the Deputy CEO at BOCI, stated that BOCI very pleased to be at the forefront of innovation in technology finance and digital finance. The Deputy CEO added that the Chinese bank encouraged by the evolution of Hong Kong’s digital economy. Moreover, working with UBS has driven the simplification of digital asset markets and products for customers in the Asia Pacific. Under English and Swiss law, UBS issued the USD 50 million tokenized fixed rate note in December 2022. It has digitized on the permissions blockchain. Moreover, UBS continues to extend its tokenization service through UBS Tokenize.

Gensler mentioned that the SEC guards the crypto investors. Gensler remarked about the federal securities laws in the speech. Gary Gensler, the chairperson of the United States Securities and Exchange Commission (U.S. SEC) remarked in the speech shared last Thursday, in Washington D.C. Now, Gensler has portrayed the needed protection in the crypto market as per the securities laws. Concerning the issues that occur in the crypto market over these years, Gensler supported the investors at the Fintech conference. He mentioned that he preferred to put out the views of his own as the chairperson. Additionally, he meant that these concerns are not on behalf of fellow officials in the SEC. In the speech, Gensler added: Meanwhile, Gensler informed that the SEC is always concerned with guiding the investors in the market whether they are deemed to be securities or not. However, the SEC Enforcement Department Director, Gubir Grewal commented: Furthermore, the SEC is focussing on the risks and uncertainties that might occur in the crypto market, he added. Crypto assets should be significant concerning federal securities laws. Also, as mentioned in the recent tweet, Gensler felt the crypto industry is a whole of “Hucksters, Fraudsters, Scam artists.” However, some of the investors tend to support the recently sued crypto exchanges as they believe in them more than SEC, lately.

Kevin said he has no interest in picking a fight with SEC Chairman Gary Gensler. The shark tank star praised the SEC’s move to clamp down on Coinbase. Kevin O’Leary, a star of “Shark Tank” and stakeholder in FTX, has said that he would dismiss Coinbase CEO Brian Armstrong in light of the recent crackdown by the US Securities and Exchange Commission. For “butting heads” with the US SEC, O’Leary had harsh words for Armstrong. Coinbase CEO Brian Armstrong has been blasted by Kevin O’Leary for going up against the SEC. On Tuesday, the financial regulatory enforcement agency filed a lawsuit against the US-based corporation for operating as an unregistered exchange, broker, and clearing agency. The crypto exchange has also filed a petition asking for regulatory clarity over the sector. The SEC claims that Coinbase, like many other companies, marketed and sold securities without first registering such offers and transactions. Kevin O’Leary remarked, “Armstrong is a pioneer, but if he worked for me, I’d fire him,” in an interview with Yahoo Finance. I have no interest in picking a fight with SEC Chairman Gary Gensler. Lack of Institutional Interest O’Leary went on to say that if he were a member of Coinbase’s board of directors or a shareholder, he would have pulled his funds long ago. He praised the SEC’s move to clamp down on Coinbase and said that he saw no need to invest in a company that was “at war” with the regulator. Moreover, the founder of the bankrupt cryptocurrency exchange FTX is facing various criminal and civil charges, and the shark claims to have lost $15 million on the venture. Kevin O’Leary, speaking generally about the cryptocurrency market, remarked that it has been stagnant for the last three years owing to a lack of “institutional interest.” Because of the lack of interest, he said, it is unusual to come across crypto being employed in any context. The value of cryptocurrency as an investment is nothing, he said, calling it an entertaining cause to root for but a “nothingburger” until the industry’s problems are resolved. Recommended For You: Prominent Economist Peter Schiff Warns of U.S Banking System Collapse

PeckShield notified Sturdy Finance on June 12 of a suspicious transaction. The attacker sent about $800,000 in ETH to the crypto mixer Tornado Cash. The Sturdy Finance DeFi protocol lost 442 ETH, or over $800,000 at the time of writing, due to a hack. An intruder drained funds from the protocol by exploiting a vulnerability that allowed them to manipulate a flawed pricing oracle. PeckShield, a blockchain security company, notified Sturdy Finance on June 12 of a suspicious transaction. That may have been an attempt at price manipulation. Almost an hour after first learning of the attack, the DeFi protocol announced that it had disabled all markets. And assured its customers that their money was safe. Attacker Manipulates Price Oracle PeckShield verified that the attacker sent about $800,000 in ETH to the crypto mixer Tornado Cash, despite a rapid reaction from the DeFi lending platform. The security company said that the flawed pricing oracle was the “root cause” of the vulnerability. Also, a popular tactic used by hackers to steal money using DeFi protocols is called a reentrancy attack. Which was revealed by the blockchain security firm BlockSec. This technique is used by cybercriminals to take advantage of a vulnerability that allows them to repeatedly call a function in a single transaction before the first call has finished processing. This allows hackers to make larger withdrawals than would otherwise be feasible. Despite a dramatic drop in crypto hacks during the first quarter of 2023, the crypto community is being encouraged not to let its guard down, with one business warning that this is likely a “temporary reprieve, rather than a long-term trend.” Chainalysis released research earlier this year estimating that $3.8 billion was stolen in crypto hacks in 2022, with the majority of the funds coming from decentralized finance (DeFi) protocols and attackers with ties to North Korea. Recommended for You: Crypto Twitter Heist: Hackers Stole $1M from Prominent Accounts