A new game called Champions Tactics: Grimoria Chronicles was revealed late last week. Ubisoft has revealed that their upcoming game would be built on the Oasys blockchain. Ubisoft, the creator of Assassin’s Creed and Just Dance, was an early adopter of blockchain technology among major traditional game companies and has persisted in doing so. A new Web3 game from the developer has been revealed. A new PC game called Champions Tactics: Grimoria Chronicles was revealed late last week, and it promises to be an exciting PvP tactical role-playing game. The teaser trailer only shows glimpses of the fantasy world, and there are no still images accessible. However, it seems to portray mythical figure forms, suggesting that the design may have been influenced by the aesthetic of classic board games. Oasys is a blockchain network designed exclusively for the gaming industry, and it has already attracted attention from companies like Square Enix, Sega, and Bandai Namco. Ubisoft has even revealed that their next game, Champions Tactics, would be built on the same platform. NFT Inclusion In addition, the game will be accessible on PC through a standalone desktop program, thus it is not a web-based game, and the official website has been promising “free drop at launch” to allow playtime. This suggests that Ubisoft will supply non-fungible tokens (NFTs) for free at launch for use in Champions Tactics, despite the fact that they may need their use in the future. The rollout of that pilot program, the most publicized implementation of NFTs into a well-known game on the mass market, was also met with substantial customer displeasure. This was back in 2021 when Ubisoft announced the inclusion of NFT-based items. Speculation on digital assets, NFT fraud, and publishers trying to scam customers out of more money are just a few of the reasons why many participants are suspicious of NFTs. Highlighted Crypto News Today: Recent Approvals Drain Terra Classic Community Fund Pool

Beeple donated the FTX Board Meeting NFT to Castello di Rivoli, Italy’s first Museum of Contemporary Art. The NFT satirizes the rumors of Sam Bankman-Fried at the office of Alameda Research. Castello di Rivoli Museo d’Arte Contemporanea, one of Italy’s premier contemporary art museums, has made an exciting addition to its permanent collection with a generous donation from artist Mike Winkelmann, better known as Beeple. The artwork, titled FTX BOARD MEETING, DAY #5676 11.13.2022, is a unique creation that exists both in the digital and physical realms. It comprises an NFT (non-fungible token) registered on the blockchain and a large oil painting on canvas. Beeple’s Sam Bankman-Fried NFT Adopted by Italy Beeple’s donation of the Sam Bankman-Fried-based art to the museum heralds a new era of institutional adoption of NFTs as a bona fide art medium. In a statement, Carolyn Christov Bakargiev, the museum’s director, stated: “For me, the collapse of the crypto world following the FTX scandal and the speculative bubble that exploded last year is one of the key moments of that world – it was like an atomic bomb going off in the crypto world.” Through his work, Beeple employs the aesthetics of pornography and cartoonish digital graphics to criticize what he perceives as the adolescent recklessness and immaturity prevalent in the digital culture surrounding tech entrepreneur SBF. Beeple, who has been creating and posting a new image online every day since 2007, has garnered a massive following on social media, with 2.4 million followers on Instagram, over 500,000 on Facebook, and more than 760,000 on Twitter. For his part, the artist gained international recognition during the COVID-19 pandemic lockdown when his artwork EVERYDAYS: THE FIRST 5000 DAYS, a compilation of 5,000 images created over 15 years, fetched a record price at Christie’s auction. This event propelled digital art and the concept of NFTs, showcasing the uniqueness that each token represents through blockchain technology. Explaining her selection of Beeple’s 1/1 edition, Christov-Bakargiev emphasized the artwork’s relevance within a broader art historical canon. “Beeple is interesting as an artist in a similar way to Andy Warhol […] Warhol was critiquing the consumer society around him […] Beeple’s work is particularly controversial in that community because he is an artist who critiques the digital world.” To commemorate the donation, the museum will host a public conversation between Beeple, Director Carolyn Christov-Bakargiev, and curator Giulia Colletti, which will be live-streamed on YouTube. Following the discussion, there will be a book presentation and signing of Beeple’s first monograph, “Beeple: Everydays, the First 5000 Days,” at the Castello di Rivoli Bookshop. Highlighted Crypto News Today: Identical Azuki Elemental NFT Leads to Overall NFT Market Drop

Cameron recently vented his frustrations over the SEC experience on Twitter. GBTC’s hefty fees and it trades at a discount to its NAV were two of his biggest complaints. The CEO of Gemini, Cameron Winklevoss, has called the Grayscale Bitcoin Trust (GBTC) a “toxic product” in a series of tweets. After the SEC rejected Gemini’s registration for a spot Bitcoin ETF a decade ago, Cameron recently vented his frustrations over the experience on Twitter. The CEO said that American investors had been denied access to one of the best-performing assets of the last decade due to the SEC’s decision. Cameron asserts that investors have turned to less desirable options like the Grayscale Bitcoin Trust (GBTC) as a result of the SEC’s denial of Gemini’s spot Bitcoin ETFs application. He said the GBTC’s hefty fees and the fact that it trades at a discount to its NAV were two of his biggest complaints. SEC’s Reluctance to Approve Cameron also noted that spot Bitcoin trading may be moving to unlicensed and unregulated venues outside the United States as a result of the SEC’s reluctance to approve its Bitcoin ETFs. Moreover, Cameron said that investors were driven onto the now-defunct FTX crypto market as a consequence of the SEC’s ruling, highlighting the dangers those investors now face. Furthermore, Winklevoss ends by expressing his desire for the SEC to reconsider its track record and rededicate itself to protecting investors, fostering competitive markets, and facilitating the emergence of new sources of capital. Indicating his desire for more easily accessible and regulated investment choices for US investors, he also lends his support to those who are lobbying for the introduction of spot Bitcoin ETFs. One of the major asset managers, BlackRock has helped drive the current surge in demand for Bitcoin spot registration. Highlighted Crypto News Today: Gary Gensler Resignation Confirmed by SEC? Fact Check

The total funds in the community pool dropped from 2.37B LUNC to 416 million LUNC. Three ideas were recently approved by the Terra Luna Classic community. The community pool fund at Terra Luna Classic has reached a dangerous low after three expenditure requests were approved by the community. The community no longer has enough money to pay for the further growth and upkeep of the network after seeing their total funds fall from 2.37 billion LUNC to 416 million LUNC. Three ideas were approved by the Terra Luna Classic community: a Joint L1 Task Force Q3 proposal, the formation of a Quant team for USTC repeg, and the maintenance of Terra Rebels’ infrastructure and applications. Recent Funds Allocation Terra Rebels got 484.367 million LUNC, Quant USTC Repeg Team got 222.222 million LUNC, and Joint L1 Task Force Q3 got 1.264 billion LUNC for their development work. Just 416.33 million LUNC and 4.49 million USTC remain in the pool’s current balance. The Joint L1 Task Force plans to upgrade to stable versions of the Columbus and Cosmos SDKs, as well as focus on lowering the circulating supply of LUNC and USTC in Q3. In the meanwhile, the Quant team will be modeling and simulating incremental repeg buybacks and staking swaps for USTC. Also, To keep the Rebel Station, additional programs, and the testnet and Terra Classic infrastructure running, Terra Rebels need financial support. On the other hand, the community agrees that only the most crucial proposals should be put to a vote after extensive deliberation. Moreover, the eleventh round of Binance’s LUNC burn mechanism, equivalent to 2.65 billion Terra Classic (LUNC) coins, has been finished. The total amount of LUNC burned by the community and the cryptocurrency exchange combined is about 35.5 billion. Highlighted Crypto News Today: Gemini CEO Criticizes Grayscale Bitcoin Trust (GBTC)

The hackers generated vast quantities of many distinct coins over several blockchains. Approx $42B worth of cryptocurrencies was stored in the attacker’s wallet at one time. After a significant attack that compromised more than 57 assets across many blockchain platforms on Sunday, July 2, Poly Network temporarily shut down its operations. Poly Network, an interoperability platform, was severely hacked over the weekend when an attacker used a flaw in the cross-chain bridge protocol to generate billions of tokens. The hackers generated vast quantities of many distinct coins over several blockchains. In addition, they produced 24 billion BUSD and BNB on Metis and 999 trillion SHIB (999 trillion) on the Heco blockchain. 57 Assets Affected The hacker created new blockchains, generated billions of tokens, and transferred them to their own wallets. Approximately $42 billion worth of cryptocurrencies was stored in the attacker’s wallet at one time. However, it is difficult for them to sell these tokens and generate big gains due to low market demand. The projected profit is $5 million as of right now. The Poly Network stated: As was previously stated, the Poly Network attack affected 57 assets spread over 10 distinct blockchains. The Poly Network has been the target of serious cyberattacks before. As early as August 2021, hackers realized that they might make money by targeting bridges. There was a lot of talk in 2021 about the theft that stole $600 million from Poly Network. Although $342 million worth of funds were recovered. Highlighted Crypto News Today: Vitalik Buterin Reveals Staking Only Tiny Portion of ETH

False reports of SEC chair Gary Gensler’s resignation circulated in smaller crypto outlets. Speculation about Gary Gensler’s resignation has happened previously. Rumors began to circulate in the crypto market on Sunday, suggesting that Gary Gensler, the Chair of the US Securities and Exchange Commission (SEC), might be considering resigning. An anonymous official, as reported, claimed that the SEC Chair was about to step down from his role in response to an internal investigation conducted within the agency. However, it seems that the information turned out to be mere speculation and was not based on factual evidence. In a major crackdown during the first week of June 2023, the crypto ecosystem experienced a series of legal actions targeting Coinbase and Binance, the two leading crypto exchanges, on charges of securities law violations. Ben Armstrong, a prominent crypto influencer, has verified that the news of the resignation was merely a rumor. Also, Charles Gasparino, a reporter from Fox Business Network, took to Twitter on July 3 to announce that he had received confirmation from the SEC, stating that Gary Gensler would not be stepping down from his position. Previously, there have been occasions when rumors of Gensler’s resignation emerged. On April 20, unreliable sources disseminated claims that Gensler was getting ready to be “fired.” Highlighted Crypto News Today US Congressman Proposes Legislation to Remove SEC Chair, Gary Gensler

Popular crypto researcher Colin Wu cites statistics from NFTGo to explain the decline. The updated Elementals NFTs are almost identical to the originals. The Azuki Elementals airdrop last week resulted in a dramatic decline in the NFT market, which has continued over the last 24 hours. Popular crypto researcher Colin Wu cites statistics from NFTGo to explain the decline. The total value of the NFT market has dropped by 53% during the last year, to 3.33 million ETH. Moreover, with a 16% decrease, BAYC is now worth less than $30 ETH, MAYC is now less than $5 ETH (-20%), and Azuki is worth less than $6 ETH (-11%). There was a lot of buzz in the Web3 community with the release of the Azuki Elementals mint on June 27. The 20,000 NFTs for Elementals were mined and sold out in record time after being promoted as the latest installment of the successful anime-themed PFP initiative. Community Frustrated The euphoria around elementals NFTs seems to be waning, though, and there has been a great commotion about the ‘Identical’ Elementals Art. The most recent information suggests some holders are selling Elementals for far less. The floor price for Azuki Elementals NFTs was set at 2 ETH (about $3,800) on the day of launch. OpenSea’s statistics show that within a week of the debut, the floor price has dropped to below 0.8 ETH. Many NFT owners and collectors, as well as some NFT designers, have taken to social media to vent their frustration with the Azuki Elementals’ aesthetic. They compare the visual style of these NFTs to that of the original Azuki PFPs, which were based on anime The updated Elementals NFTs are almost identical to the originals but for a few minor details. Many are concerned that the Elementals collection may devalue the first Azuki endeavor. A lot of individuals are getting rid of their authentic Azuki NFTs as a result of this. Highlighted Crypto News Today: Cristiano Ronaldo Launches New NFT Collection on Binance

Twitter imposes temporary viewing limits due to data scraping and manipulation. Elon Musk increases post limits for verified and unverified accounts. Twitter, the popular social media platform, has imposed temporary limits on the number of posts users can view per day due to what Elon Musk, Twitter executive chairman, called “extreme levels of data scraping and system manipulation.” Users had been experiencing issues such as missing timelines and receiving “rate limit exceeded” messages, resulting in the hashtag #TwitterDown #TwitterFail trending. Initially, verified accounts were restricted to 6,000 posts per day, unverified accounts to 600, and new unverified accounts to 300. However, Elon Musk later announced an increase in the limits to 8,000, 800, and 400, respectively. Shortly after, he tweeted again, stating the new limits as 10,000, 1,000, and 500. Elon Musk justified these restrictions, saying they aim to encourage users to spend less time on the platform and engage with the real world. He emphasized that the changes are temporary measures to combat the aforementioned issues. Twitter users are hopeful that these adjustments will alleviate the problems and enhance their overall experience on the platform.

Cardano founder Hoskinson said that he had “all” of his ADA staked. Buterin pointed towards complicated multisignature wallets as the reason. Vitalik Buterin, one of Ethereum’s founders, has said that he does not stake all of his Ether since multisignature wallets are “complicated in a bunch of ways.” Buterin explained the “biggest reason” he is only staking a tiny portion of his ETH on the June 29 edition of the Bankless podcast. Buterin elaborated: Cardano Founder Shocked On June 30, Ethereum co-founder and Cardano founder Charles Hoskinson tweeted that he is “at a loss for words” after learning that Buterin only stakes a tiny percentage of his Ether. Hoskinson also said that he had “all” of his ADA staked. Buterin also spoke about a new protocol called EigenLayer, which lets Ethereum validators and stakers “re-stake” their assets on other new networks. Buterin stated the primary difficulty is that it presents “centralization risks,” even though it is just in the testnet phase and is not anticipated to debut until the third quarter of 2023. In this proposed system, reliable stakers would be rewarded more than those who are less reliable. Also, reliable stakers chances of being slashed are much lower. Buterin said on June 9 that the Ethereum blockchain “fails” without enough scaling infrastructure to make transactions cheap, thus this comes as no surprise. In addition, he brought out yet another potential weak spot in the system: smart contract wallets. Highlighted Crypto News Today: Surprise Transfer of $16M in LTC Sparks Speculation and Excitement

Cardano founder takes Twitter hiatus amid rate limit turmoil. Twitter’s rate limit sparks controversy and frustration for the Cardano founder. Charles Hoskinson steps back from Twitter due to a rate limit backlash. Recently, Cardano founder Charles Hoskinson announced on Twitter that he will be taking a brief hiatus from the platform. This decision comes amidst an ongoing debate surrounding Twitter’s implementation of reading limits for users, commonly referred to as rate limits. Twitter, led by CEO Elon Musk, introduced these restrictions as a means to counteract “extreme levels” of data scraping and system manipulation. However, the move has generated significant criticism, resulting in service disruptions and user frustration. The community’s response to the rate limit issue has been a mix of humor and frustration, with some individuals making playful references to Hoskinson hitting his rate limit and others encouraging him to take a break. Musk’s Twitter limit receives backlash The controversy surrounding Twitter’s rate limit policy gained attention when numerous users reported technical difficulties, such as the inability to access tweets, missing timelines, and sudden follower disappearances. The phrase “rate limit exceeded” became a common occurrence for users when attempting to view tweets. Twitter’s decision followed an earlier announcement requiring users to have an account in order to view tweets. The general reaction to the newly imposed limits has been predominantly negative, as users express their frustration with messages like “rate limit exceeded” and “Cannot retrieve tweets” appearing in their feeds. This dissatisfaction led to the trending hashtag #TwitterDown. Critics have also launched the hashtag #RIPTwitter as a way to express skepticism about the effectiveness of rate limits in addressing data scraping and system manipulation concerns.

Significant Litecoin transfer triggers speculation and discussion in the crypto community. The transfer of $16 million worth of LTC from Binance raises eyebrows. Litecoin’s price surges amidst the unexpected transfer of funds. Surprisingly, the popular cryptocurrency exchange Binance has witnessed a substantial transfer of 144,396 Litecoin (LTC), amounting to a staggering $16,053,446. This unexpected transaction has raised eyebrows in the crypto community, triggering speculation about its motive and destination. The transfer occurred recently, leaving experts and enthusiasts eager to uncover the purpose behind this significant movement of funds. Consequently, a wave of speculation and discussion has engulfed the cryptocurrency space. Moreover, the timing of this transfer adds to its intrigue as the Litecoin community prepares for the highly anticipated Litecoin halving, an event expected to trigger a bullish rally in LTC prices. Litecoin’s Price Surges Amidst Transfer It is worth noting that Canadian authorities recently approved the free trading of Litecoin (LTC), further amplifying interest in the cryptocurrency. However, despite this noteworthy transfer, LTC’s native token has experienced a 6.47% price increase within the last 24 hours, currently trading at $111.56, according to CoinMarketCap data. Nonetheless, there are projections of bearish sentiment for LTC due to a significant decrease in trading volume. In the coming hours, the trading volume is expected to decline by 35.66%, plummeting to $2 billion. Hence, market participants are closely monitoring these developments to ascertain the potential impact on Litecoin’s performance. As the crypto community continues to digest this surprising transfer, speculation abounds regarding its motive and the identity of the unknown wallet receiving the funds. The substantial nature of the transaction raises questions and fuels curiosity, compelling stakeholders to seek answers. The recent transfer of Litecoin from Binance to an unknown wallet has captivated the cryptocurrency community. With the impending Litecoin halving and the approval for free trading of LTC in Canada, this transaction’s implications have captured market participants’ attention. As the price of LTC remains relatively strong despite the transfer, the future trading volume will likely determine the short-term outlook for the cryptocurrency. Highlighted Crypto News Today: Canadian Government Removes Cap Limit on Litecoin (LTC) Trading

The collection, which is due out on July 3rd, has 20 unique designs. Each design captures the spirit of Ronaldo’s goal-scoring skill. Cristiano Ronaldo has released his second collection of Non-Fungible Tokens (NFTs) on Binance. Thus, the Portuguese celebrity has strengthened his position in the NFT market. The new “ForeverCR7: The GOAT” NFT collection is dedicated to celebrating Ronaldo’s incredible feats throughout his career, most notably his jaw-dropping goals scored for his club and country. The extraordinary value of owning an extremely rare NFT extends well beyond the purely digital realm. One perk is a soccer shirt autographed by Cristiano Ronaldo, which is a once-in-a-lifetime opportunity for any soccer lover. Four Rarity Tiers The collection, which is due out on July 3rd, has 20 unique designs, each of which depicts one of Ronaldo’s most memorable goals. These patterns are separated into four rarity tiers to provide collectors more freedom to choose items that best suit their tastes. Each design captures the spirit of Ronaldo’s goal-scoring skill, whether it is a spectacular bicycle kick or a strong long-range shot. The very unique NFTs, of which there are six different designs, are among the collection’s most prized pieces. These incredibly limited edition NFTs are highly sought after by collectors due to their scarcity. Cristiano Ronaldo’s first NFT collection, in particular, had a rocky introduction to consumers. The collection’s reception and success were negatively impacted by a number of reasons due to the timing of its release. As a result of FTX’s demise, the cryptocurrency market as a whole saw a fall, and investor confidence plummeted. Nonetheless, Ronaldo’s second collection may appeal to a wider audience because of the rising popularity and comprehension of NFTs among collectors and enthusiasts and the possibility of improving market circumstances. Highlighted Crypto News Today: Surprise Transfer of $16M in LTC Sparks Speculation and Excitement

The ETF registrations were “inadequate” as per SEC was out on Friday. Blackrock had already picked Coinbase as its SSA partner. Four companies resubmitted their spot bitcoin ETF applications on Friday after it was reported that SEC was dissatisfied with the previous round of filings by several major financial institutions. These institutions included Blackrock, Wisdomtree, Valkyrie, Fidelity, Ark Investment, and Invesco. Information that the ETF registrations were “inadequate” was out on Friday by people familiar with the matter, according to an article by WSJ. A Cboe official reportedly acknowledged in the WSJ report that the exchange plans to resubmit its spot bitcoin ETF registrations. After promising to revise and update the documents given by Fidelity, Vaneck, Invesco, and Wisdomtree, Cboe followed through. Banking on Coinbase On Friday, a major change to the modifications took place when Coinbase was added as an SSA partner. Blackrock had already picked Coinbase as its SSA partner, and although they didn’t resubmit their applications, neither did Ark. To this day, the U.S. regulatory authority has doubts about the spot Bitcoin ETF’s sponsors’ capacity to protect investors from fraud and manipulation. Despite the SEC’s approval of several futures ETFs, spot Bitcoin ETF is facing a hard time. Intriguingly, both the most recent ETF applications and Blackrock’s filing include Coinbase as an SSA partner. But it’s worth noting that Coinbase is in the middle of a legal battle with the securities regulator as a result of a complaint brought by the SEC against the exchange. The community is waiting to see whether the SEC will accept the resubmitted spot Bitcoin ETF filings now that Coinbase has been added as a surveillance-sharing partner, especially amid the legal battle. Highlighted Crypto News Today: FedNow Payment System’s Early Adopter List Excludes Blockchain Firms

Discover the notable increase in burned Shiba Inu despite a quiet trading weekend. However, the price has also not been in its best shape. SHIB burn rate has spiked by 150% in the last 24 hours. Recent observations on the Shiba Inu network have revealed a noteworthy rise in the number of coins being burned, despite a relatively quiet weekend trading session. The burn rate of SHIB has experienced a remarkable increase, doubling to reach an impressive 150%. Token burning involves intentionally removing tokens from circulation, thereby reducing the overall supply. In the case of Shiba Inu, the surge in the burn rate over the weekend holds the potential for positive price movements in the coin. With a reduced supply, each remaining token may experience an increase in price, assuming demand remains steady or grows. Source: Shibburn Shiba Inu price in the red amidst rising burn rate However, it is worth noting that Shiba Inu is currently facing challenges in the market. The recent Poly Network hack led to the sale of over 90 billion Shiba Inu, exerting significant selling pressure. Despite this, the coin has demonstrated resilience, as its price has remained stable at the usual level of $0.0000075. This price stability, despite the increased selling pressure, suggests a healthy level of liquidity for Shiba Inu on the market. The heightened burn rate, coupled with this resilience, sets the stage for a potential substantial price surge in the near future. However, it is crucial to closely monitor the consequences of the recent hack and track wallets associated with the exploiter. As is customary in the realm of cryptocurrencies, exercising caution is vital. The market is renowned for its volatility and susceptibility to various influencing factors. Investors should remain informed and only invest funds they can afford to lose.

The new service will enable instant transactions between U.S. banks. The launch of FedNow is planned for this month of July. On June 29th, the Federal Reserve announced the certified “early adopters” for FedNow, the planned instant payment system. When the platform starts in late July, the companies on the approved list will be able to connect with it without any problems. Despite at least two blockchain networks earlier announcing they would join the immediate payment system, they do not appear on the list. In spite of the fact that it is not currently on the list, Metal Blockchain still plans to integrate with the FedNow service once it secures “the appropriate bank sponsor.” Instant Transactions The United States Federal Reserve is currently working on an instant payment service called FedNow. The Federal Reserve believes that the service will enable instant transactions between U.S. banks, analogous to the Faster Payments system in the United Kingdom and the Single Euro Payments Area system in Europe. Only ACH and wire transactions inside the US are resolved at a later time than other domestic bank transfers. The launch of FedNow is planned for the month of July. At this time, at least two other blockchain projects have said that they will be “connecting” to FedNow upon its release. In May, the Metallicus team announced that, via integration with FedNow, their network will enable near-instant stablecoin conversion. Metallicus was also included in FedNow’s “service provider showcase,” which was live at the time, further indicating a possible integration. A few days after the announcement, this listing was taken down on May 15. ACI Worldwide, ECS Fin, FPS Gold, Open Payment Network, and 11 more payment providers were included on the list of “service providers” posted on June 29; however, neither Metallicus nor Metal Blockchain were included. Highlighted Crypto News Today: Hong Kong Forms New Task Team To Promote Web3 Development

Finance secretary for Hong Kong, Chan has been vocal in his support for cryptos. Hong Kong has been striving to be a Web3 leader for some time now. The Hong Kong government has formed a task team to advocate for Web3 innovation. Late on Friday, the Government of the Hong Kong Special Administrative Region issued a press release announcing a new policy that would go into force today. Paul Chan, the finance secretary of Hong Kong, and other government officials and regulators will lead the committee for its duration of two years. There are a number of specialists in relevant fields among the task force’s 15 unofficial members. Grabbing the Golden Opportunity As finance secretary for Hong Kong, Chan has been vocal in his support for cryptocurrencies, saying earlier this year that the city should grab the “golden opportunity” presented by Web3. He said that blockchain technology is what makes Web3 possible, and that it has properties such as disintermediation, security, transparency, and cheap cost. Hong Kong has been striving to be a Web3 leader for some time now, and in 2022 they finally released their formal policy statement on Virtual Assets. Following the announcement, markets welcomed this approach, prompting the establishment of the task group, which will be responsible for recommending measures to ensure the long-term viability and social responsibility of Web3 in the area. While there is no universally agreed-upon definition of Web3, most people think of it as a decentralized, next-generation internet. Hong Kong has been working hard to become a crypto center, despite its proximity to China, which has been a strong adversary to digital asset efforts. Earlier this month, the territory released its Virtual Asset Trading Platform (VATP) guidebook, providing Web3 businesses with a transparent set of standards by which to operate. Highlighted Crypto News Today: Potential Cryptocurrencies To Make History in H2 of 2023

Patrick McHenry encouraged the US SEC to investigate the possibility. Last month, the SEC authorized a Bitcoin ETF that uses leverage. Reports of the US SEC labeling financial titans’ registrations for spot Bitcoin ETFs as “inadequate” prompted US House Financial Services Committee Chairman Patrick McHenry to issue a warning to Chair Gary Gensler via Twitter. The crypto community has ridiculed the US SEC for approving a Bitcoin ETF based on leveraged futures but not a spot Bitcoin ETF. Republican Chairman of the US House Financial Services Committee Patrick McHenry has already said that he would carefully monitor the US SEC’s reaction to the Bitcoin ETF registration by financial services major BlackRock. Curbing Crypto Innovation in the U.S According to Patrick McHenry, if the US SEC’s claims are accurate, Gary Gensler has a lot of explaining to do. Claiming that a spot Bitcoin ETF would provide investors access to a regulated product, he encouraged the US SEC to investigate the possibility. He also speculated that Gary Gensler’s desire to put an end to crypto innovation in the United States was the only possible explanation for its rejection. When it comes to the “surveillance-sharing agreements” and the spot Bitcoin exchange that the tech giants would utilize, the US SEC has simply warned Nasdaq and CBOE that they need to re-file applications. Subsequently, Fidelity and other asset managers identified Coinbase as the market for its surveillance. Last month, the SEC authorized a Bitcoin ETF that uses leverage, drawing ridicule from the Bitcoin community since the SEC had previously denied a spot Bitcoin ETF. Application of these tech giants for spot Bitcoin exchange-traded fund (ETF), has stimulated a rebound in the larger cryptocurrency market. Bitcoin is stable above the $30k level with other altcoins also on the rebound. Highlighted Crypto News Today: Hong Kong Forms New Task Team To Promote Web3 Development

Litecoin’s price has surged recently, hitting a 14-month high and breaking the $100 mark. The halving event is expected to take place around August 2, 2023. The Canadian government has approved the unrestricted trading of Litecoin (LTC) and three other cryptocurrencies on exchanges, marking a major breakthrough for the Canadian crypto sector. Litecoin’s price has surged recently, hitting a 14-month high and breaking the $100 threshold. The House of Commons Standing Committee on Industry and Technology has urged the government to develop a national blockchain policy to clarify the country’s regulatory stance and show support for the sector. Bulls in Total Control The halving event, expected to take place around August 2, 2023, bodes well for Litecoin’s future. It will be the third time the LTC block reward has been halved, from 12.5 LTC to 6.25 LTC. The price of Litecoin (LTC) hit a 14-month high, surging beyond $100. According to IntoTheBlock’s numbers, Litecoin’s network has also reached a major milestone, as it is now handling over 500,000 transactions per day. With this milestone, LTC’s daily transaction volume is quickly approaching that of Bitcoin in May. Crypto experts are keeping an eye on the successful breakthrough, noting that whether or not Litecoin is able to keep its upward momentum depends on whether or not it can retain support at the $102.65 level. With this area of support still in place, Litecoin might continue its ascent toward its major objective of $140. The 30th of June marked a historic high for the coin, which was then worth $110. Furthermore, nearly a million Litecoin transactions were handled by the network in the preceding week. The approaching Litecoin halving event, which will take place in less than a month, is a strong testimony to the good feeling around the coin. Highlighted Crypto News Today: Crypto Market Overview: Bitcoin Completes Strong Quarter with 7% Gains

Bittrex argues that the SEC doesn’t have the jurisdiction to regulate cryptocurrencies. The SEC additionally penalized Bittrex Global GmbH, a foreign subsidiary of Bittrex. By submitting a motion to dismiss the complaint against it, Bittrex has advanced significantly in its legal struggle with the U.S. SEC. Bittrex argues in its new court filing that the SEC doesn’t have the jurisdiction to regulate cryptocurrencies as securities unless explicitly given that authority by Congress. This argument takes issue with the Securities and Exchange Commission’s (SEC) present interpretation of securities laws and seeks to establish a more precise regulatory structure that is in line with the special characteristics of digital assets. Bittrex and its co-founder William Shihara were charged with running an unregistered national securities exchange by the SEC in April. The lawsuit alleges that Bittrex, without being registered as an exchange with the SEC, allowed the trading of digital assets that qualified as securities under U.S. federal securities laws. For failing to register as a national securities exchange. The SEC additionally penalized Bittrex Global GmbH, a foreign subsidiary of Bittrex. Following Coinbase’s Footsteps Bittrex cited the challenging regulatory and economic climate in the U.S. as the reason for its decision to shut down after the SEC lawsuit. Bittrex, though, has promised to fight the SEC’s allegations instead of paying. Bittrex’s request to dismiss borrows heavily from the strategy used by Coinbase, the more prominent cryptocurrency exchange. By following Coinbase, Bittrex seems to be making a calculated move to strengthen its joint defense against the SEC’s investigation. Bittrex’s legal staff, like Coinbase’s, finds flaws in the SEC’s statements about the trading of investment contracts. While both defendants agree that initial sales of certain crypto assets may be considered securities contracts. They maintain that secondary market transactions involving the same assets should not be treated as securities. Highlighted Crypto News Today: Crypto Exchange Binance Burns 2.65 Billion Terra Classic (LUNC)

Bitcoin has completed Q1 2023 with a trending price surge of 72.3%. The Fear and Greed Index has a current reading of 60. The crypto market has witnessed a lot of ups and downs in 2023. It continues to attract investors and traders with its resilience and volatility. The major traditional banks have recognized the potential of cryptocurrencies and are stepping up crypto adoption. According to the report, Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, has maintained its trading price above the $30 mark, providing some relief to crypto investors. However, the other altcoins in the top ten list have been trading in different directions, with some surging while others experiencing minor corrections. The Bitcoin Trading Price Holds Strong Despite the challenging market environment and regulatory issues, Bitcoin has maintained its position above the $30,000 mark. The stability of the Bitcoin trading price has helped the market recover from the SEC’s continuous lawsuit against the leading crypto firms. Moreover, with that stability, the BTC dominance, representing Bitcoin’s share of the total crypto market, has experienced a slight decline of 1.14%, reaching 45.45%. Bitcoin has completed Q2 with a trading price surge of around 7%. Due to the significant bullish movement, BTC has completed Q1 2023 with a trending price surge of 72.3%, according to the report. Despite minor fluctuations, the overall market capitalization has remained relatively stable. It stands at $1.30 trillion with a marginal increase of 0.07%. The Fear and Greed Index, a widely followed sentiment indicator that gauges the emotions and behavior of market participants, has a current reading of 60. It falls into the Greed category, indicating a predominantly positive sentiment among investors. Mixed Performance Among Top Altcoins: While Bitcoin has shown strong stability, the top altcoins in the crypto market have experienced varied performances over the recent period. Litecoin (LTC) has experienced a significant surge, with an increase of 12.5%. As investors wait for the most anticipated Litecoin Halving event. Dogecoin (DOGE), the popular memecoin, has also experienced a surge of around 3.95%. However, Ripple (XRP) has encountered a minor setback, recording a 1.21% decline. And also, Solana (SOL) and Ethereum (ETH) have experienced declines of 3.28% and 0.73%, respectively. The current crypto market overview reveals a mixed trend among the top cryptocurrencies. While Bitcoin maintains its position as the leading cryptocurrency, the other altcoins in the crypto market are showing signs of potential growth. At the time of writing, the trading price of Bitcoin is around $30,576, with an increase of over 0.29% in the last 24 hours. The trading volume of Bitcoin has experienced a decline of 65.37%, according to CoinMarketCap. Highlighted Crypto News Today: Potential Cryptocurrencies To Make History in H2 of 2023