SEC’s heightened scrutiny creates turmoil in the crypto industry. Prometheum emerges as a new model for crypto compliance. The industry clamors for clear, sustainable crypto regulations. This week, the crypto world experienced considerable upheaval. Following the Securities and Exchange Commission’s (SEC) intensified crackdown on the industry, market confidence rebounded slightly in light of cooling U.S. inflation. The SEC’s high-profile lawsuits against Coinbase and Binance, industry giants, have been central to the vortex. Similarly, SEC Chair Gary Gensler asserts that existing securities laws can be applied to cryptocurrencies. However, critics such as Gemini co-founder, Cameron Winklevoss, voice their dissent. According to Winklevoss, the notion of easy registration with the SEC is deceptive. The Prometheum Factor: A New Crypto Compliance Paradigm Intriguingly, amidst these regulatory waves, a company named Prometheum has surfaced, catching the attention of Congress and industry stakeholders alike. Despite its previously obscure origins, it now acts as the voice of sensible compliance in the legislative halls. Notably, a renowned venture capitalist, Matt Walsh, shared a comprehensive thread detailing Prometheum’s rise. Moreover, Tyler Winklevoss, co-founder of Gemini and Cameron’s twin, believes Prometheum presents a novel path to staying in Gensler’s good books. Meanwhile, the week also saw diverse voices advocating for clearer crypto regulation. Among these was Rep. Warren Davidson (R-Ohio), who unveiled a new SEC reform bill alongside Rep. Tom Emmer (R-MN). Coinbase’s Chief Legal Officer, Paul Grewal, also expressed frustration with the SEC’s refusal to clarify crypto regulations during a recent court battle. Significantly, the crypto community was also abuzz with varied opinions. Crypto researcher Molly White was busy warding off Bitcoin maximalists, while Block CEO and Twitter co-founder, Jack Dorsey, argued for Bitcoin’s inclusion in Apple’s App Store. Moreover, Republicans from the U.S. House Committee on Financial Services also expressed dissatisfaction, challenging the SEC’s proposal to modify the definition of an “exchange.” Consequently, as crypto Twitter buzzes with debate, uncertainty, and the rise of Prometheum, the industry remains poised on the edge of change, eager for clear regulation and sustainable growth.

Economist and gold advocate Peter Schiff agreed to the same. Kiyosaki has been vocal about the impending doom of the banking industry before. Robert Kiyosaki, the author of Rich Dad Poor Dad, has once again sounded the alarm about the state of the American economy and the financial system. The book Rich Dad Poor Dad was written by Kiyosaki and Sharon Lechter in 1997. For almost six years, it has been included on the New York Times list of best-selling books. The book has been translated into 51 languages and published in more than 109 countries, with sales of more than 32 million copies. Thursday’s tweet from the famous novelist warned of imminent bank collapses. The author wrote: Impending Doom Economist and gold advocate Peter Schiff, among many others on social media, stated that more banks are on the verge of failing because of evident monetary and fiscal policy blunders made over the years, echoing the sentiments of the renowned novelist. The present financial crisis, Schiff said, might cause a big bank run. Kiyosaki has been vocal about the impending doom of the banking industry before. The cautions made by Rich Dad, Poor Dad’s author apply to the international economy as well. Moreover, in February, he expressed concern that the global economy was about to crash, predicting that there would be bank runs, frozen deposits, and bail-ins. He has always said that gold, silver, and bitcoin are the greatest assets to have on hand in volatile times.

Over 300,000 outstanding transactions have yet to be validated. 90.7% of all inscriptions are made up of text, while 9.3% are made up of other file types. According to the most recent assessment, there are now over 12,494,695 Ordinal inscriptions connected to the Bitcoin blockchain. As a result of this ongoing pattern, mempool.space has recorded over 300,000 outstanding transactions that have yet to be validated. Bitcoin miners validated these transactions and others worth $46.10 million in conventional financial transfers on Saturday, adding up to a total of 1,737.50 BTC. On the 15th of June, three days ago, the total number of Ordinal inscriptions hit 12 million. According to the most recent data available, 90.7% of all inscriptions are made up of text, while the remaining 9.3% are made up of other file types such JPEGs, PNGs, SVGs, GIFs, videos, software, and programs. A significant portion (11,259,647) of the total inscriptions are only made up of simple text. Trading Volume Declines Even if the number of Ordinal inscriptions is rising, the BRC20 economy has been hit hard. There are 34,296 BRC20 tokens with a total market cap of $141.97m, according to statistics from brc-20.io. Recently, almost $25.51 million worth of BRC20 trade volume has been recorded. This cryptocurrency token economy based on Bitcoin was once worth close to $500 million. However, numerous prominent BRC20 tokens have had major value reductions because of the current down market. The value of one ordi (ORDI) token, for example, has dropped from $11.36 on June 3 to $6.263. Similarly, on June 3rd, one unit of the BRC20 token pepe (PEPE) was worth $0.20, but recently, that price has decreased to $0.050. The value of BRC20 tokens on the market has dropped significantly this month, while the total number of BRC20 tokens has increased by more than 38% since June 3.

The decision to allow the naira to “float” by the CBN was made by the Nigerian president. The Nigerian President removed the CBN’s multiple exchange rate system. On June 14, the official exchange rate of the Nigerian naira against the U.S. dollar hit an all-time low of NGN634 per greenback. The devaluation of the naira by more than 30 percent occurred days after the Central Bank of Nigeria (CBN) disputed that it had lowered the exchange rate of the naira from NGN470 to NGN631 per dollar. The decision to allow the naira to “float” by the CBN followed a promise by Nigerian President Bola Ahmed Tinubu to remove the CBN’s multiple exchange rate system, which had been in place for many years. Forex Market Rules Modified The Nigerian top bank maintained an exchange rate of less than NGN500:USD1 for almost a year before the apparent depreciation of the naira. The value of one naira against the dollar fluctuated between NGN600 and NGN800 throughout this time. The CBN reportedly turned down many requests to deflate the naira during this time. However, when Tinubu took office on May 29th, rumors began to circulate in Nigeria that the CBN was planning to devalue the naira. Others have seen Nigerian President Tinubu’s sudden suspension of CBN governor Godwin Emefiele as proof that he intends to carry out the promise he made on his inauguration day. Meanwhile, on June 16th, the CBN tweeted to Nigerians the importance of a fluctuating currency rate. The Central Bank stated:

The Bitcoin market showed a little improvement recently on BlackRock’s ETF entry. The current discount, or negative “premium,” used to describe GBTC share prices is -36.6%. The “OG” institutional Bitcoin investment vehicle seems to have gained value as a result of BlackRock’s Bitcoin aspirations. According to data compiled by tracking platform CoinGlass, the Grayscale Bitcoin Trust (GBTC) came dangerously close to new all-time highs on June 17. Late last week, when word spread that the biggest asset manager in the world, BlackRock, had filed to start a Bitcoin spot price exchange-traded fund (ETF), the mood in the Bitcoin market showed a little improvement. Can BlackRock Bring a Change? Spot ETFs are not yet authorized in the United States, but some believe that a strong player like BlackRock’s may change that. There are, however, indications of hope beyond emotion, with GBTC long selling at a significant discount to the BTC spot, which is rising. The current discount, or negative “premium,” used to describe GBTC share prices is -36.6%, as reported by CoinGlass. GBTC is trading closer to zero than at nearly any point this year, despite the fact that it is still deeply undervalued. On June 13th, for instance, the price drop was closer to -44%. Market analysts are already debating whether or not BlackRock’s new initiative counts as an exchange-traded fund (ETF). While some contend that it will only be another GBTC-like Trust, others take a more nuanced stance. Despite this caveat, there has been a rise in GBTC’s popularity among investors. Meanwhile, ARK Invest is one large holding that hasn’t increased its position yet, since it still has around 5.37 million GBTC shares. Cathie’s ARK, a website devoted to monitoring the investments of ARK Invest CEO Cathie Wood, shows a steady decline in those holdings until 2023.

The analyst claims he needs public funding to pay for his defense. ZachXBT anticipates spending more than $1 million on his defense. For an article he published last year, ZachXBT, one of the most followed on-chain crypto sleuths on Twitter, claims to be facing legal action. The analyst claims he needs public funding to pay for his defense since, unlike his accuser, he does not have a lot of money. That backing has been fantastic so far. Recently, ZachXBT announced on Twitter that “MachiBigBrother” was suing him over an article he wrote a year ago. A man named Jeff Huang (Machi) is mentioned in the report; ZachXBT alleged that he took 22,000 ETH from Formosa Financial in 2018. Curbing Free Speech In it, Huang’s elaborate scheme to rip off investors is laid bare; he did it by launching “over ten failed pump and dump tokens and NFT projects.” ZachXBT has called Huang’s defamation action “baseless” and “an attempt to chill free speech.” The researcher went on to call the litigation a “classic David & Goliath story” because of the disparity in financial resources between the two sides. He anticipates spending more than $1 million on his defense and has set up a cryptocurrency donation account to “assist with legal costs.” There has been over $600,000 worth of cryptocurrency sent to the wallet. A total of $300,000 ETH, $180,000 USDC, $67,000 USDT, and more are included. Others in the crypto world have also pushed ZachXBT to make BTC wallets available to others who do not utilize EVM chains. On a proportionate basis, any unspent monies will be refunded to those who contributed them as per the crypto analyst.

Elon Musk has publicly promoted Dogecoin on multiple occasions. The complaint states that Musk took use of his large Twitter following to manipulate. The million-dollar class action lawsuit filed against Elon Musk for insider trading of cryptocurrency Dogecoin took a new turn today. Elon Musk’s lawyer Alex Spiro revealed that Mr. Musk does not own any Dogecoin wallets that were part of price manipulation. Earlier, a class action lawsuit was filed against the billionaire for allegedly manipulating price of Dogecoin and cashing out $95 Million in pump dump. Manipulating the Market Late in May, a group of DOGE investors revised their case, accusing Musk of deceptive practices that inflated the price of the currency. The complaint states that Musk took use of his large Twitter following and subsequent participation on NBC’s Saturday Night Live to manipulate the cryptocurrency market in his favor. Elon Musk has publicly promoted Dogecoin on multiple occasions mostly to his large number of twitter followers. It was always believed that the billionaire is actually a Dogecoin holder. The ongoing proceedings in the lawsuit filed against Elon Musk particularly mention Dogecoin wallets that benefitted from Elon Musk’s tweets between April 3rd, 2023 to April 9th, 2023. As reported by NY Post, his lawyer in court blasted the plaintiff’s lawyer for assuming that the wallet in trial belong to billionaire Elon Musk. He argued that the sole basis for the lawsuit is that these wallets belong to Elon and which is in fact wrong. As falsely reported by many popular publishers, Elon Musk does not own any Dogecoin, but actually he has publicly admitted to owning cryptocurrencies including Dogecoin. He may have other wallets which were never a part of the pump dump. So, this FUD that Elon Musk is not owning any Dogecoin may be actually untrue. In a tweet from, October 2021, Elon Musk shared that he owns Bitcoin, Ethereum, and Dogecoin.

CoinEx will reimburse over 4,600 New York investors a total of $1.1 million. Within the following 90 days, the exchange will reimburse customers in cryptocurrency. After being sued in February 2023 for unlawful operations. Hong Kong-based cryptocurrency exchange CoinEx settled with the New York Attorney General’s office for over $1.7 million. And a prohibition on providing services in New York. The money that has been seized will be used to pay fines and reimburse investors in New York. The New York Attorney General’s (NYAG) office said in a news statement that CoinEx will reimburse over 4,600 New York investors a total of $1.1 million and pay fines to the state of New York totaling $600,000. Within the following ninety days, the exchange will reimburse customers in cryptocurrency. Rigorous Regulatory Measures The deal between CoinEx and the NYAG’s office also prevents the cryptocurrency exchange from accepting new U.S. clients. Even providing, selling, or purchasing securities or commodities inside the state of New York. The company must also use geoblocking to prevent users from New York from accessing the CoinEx platform. In a recent ruling, the New York Attorney General’s office demanded that Coin Cafe return more than $4 million to customers on the grounds that the cryptocurrency company had misled them via its allegedly “free” Bitcoin wallet storage service. This development resolves a lawsuit filed by the NYAG’s office against CoinEx in February 2023. According to prior reports, New York state authorities have claimed that CoinEx misrepresented itself as a cryptocurrency exchange while really selling tokens classified as securities and commodities. CoinEx’s decision to stop serving the US market came soon after the lawsuit was filed. More rigorous regulatory measures for the cryptocurrency sector were suggested in May by Attorney General James in the form of legislation dubbed the Crypto Regulation, Protection, Transparency, and Oversight (CRPTO) Act. According to James, the crypto business is vulnerable to fraud and other illegal activities because of the absence of strong crypto standards. Recommended For You: Binance Stands Strong as Court Denied the SEC’s Request

There has been a 29% drop from May 18’s $5.54B market value to today’s $4.3B. Tether (USDT) is leading the way while other stablecoins continue to decline. CoinMarketCap data reveals that the U.S. dollar-pegged BUSD stablecoin has dropped to fourth place in market capitalization among other stablecoins, having lost more than $1 billion during the last 30 days. There has been a 29% drop from May 18’s $5.54B market value to today’s $4.3B valuation of BUSD. Since December 2022, when the stablecoin’s market valuation reached over $23 billion, it has been on a declining trajectory. SEC Crackdown Effect Following FTX’s catastrophic drop in November 2022. Big changes have occurred around Binance, which have coincided with the decrease in BUSD’s market valuation. Net withdrawals of $3.6 billion occurred within seven days after a report in December 2022 indicated the U.S. Department of Justice might pursue Binance. Large amounts of BUSD were redeemed from the exchange by market makers. With over $245 million coming from Jump Finance alone. The BUSD stablecoin was launched in September 2019 as a result of a collaboration between Binance and Paxos Trust. The stablecoin is issued and owned by Paxos, whereas Binance has a license to use its name. Paxos faced further difficulties as a result of the relationship. The U.S. Securities and Exchange Commission allegedly sent a Wells notice to the business in February, asserting that BUSD was an unregistered security. New York’s Department of Financial Services ordered Paxos to halt BUSD issuance after conducting an inquiry. As a result of these events, BUSD’s market share plummeted from $15.88 billion on February 12 to $8.38 billion on March 13. The SEC’s complaint against Binance for allegedly marketing unregistered securities on June 5 was the latest blow. Unregistered offers and sales of BNB and BUSD tokens are among the 13 complaints brought against the exchange by the U.S. regulator. Over the last year, there have been shifts in the market domination of stablecoins tied to the U.S. dollar, with Tether rising to a new all-time high even while the market capitalization of other stablecoins fell.

Litecoin reached 200 million total addresses. The LTC’s recent achievements resulted in a surge in its trading price. Litecoin (LTC) has achieved a record-breaking milestone, strengthening its position as one of the leading cryptocurrencies in the market. Moreover, the milestone signifies the growth of LTC in the crypto market. Following the 25 million transaction record, LTC sets another groundbreaking achievement. On June 17, Litecoin announced that it had reached 200 million total addresses. LTC’s achievement of surpassing 200 million total addresses is a remarkable milestone. Moreover, LTC Ordinals reached the five million mark. The LTC’s recent achievements resulted in a surge in its trading price. At the time of writing, the trading price of Litecoin is around $76.89, with an increase of 1.13% in the last 24 hours. The trading volume of LTC has witnessed a decline of 22.49%, according to CoinMarketCap. Moreover, continuous achievements increase the anticipation for the upcoming Litecoin halving in the crypto community.

Aptos trading price momentum clearly shows bullish momentum. The trading volume of APT has experienced a surge of 227.71%. Aptos (APT) has experienced a significant increase in its trading price. The sudden surge has turned the crypto community towards the cryptocurrency APT. Aptos is gaining momentum, capturing the interest of investors in the crypto market. Recently, the cryptocurrency APT has shown a massive increase of 10.82% in the past 24 hours. Moreover, the increase takes APT to the top of the gainer list. The sudden and significant rise in APT’s trading price has ignited curiosity among traders. Aptos Maintains the Bullish Momentum Aptos trading price momentum clearly shows bullish momentum. And also, the bullish momentum is expected to continue in the coming days. Suddenly, APT has become a promising long-term investment for traders. At the start of the day, the trading price of the Aptos was around $6.24. The remarkable surges led APT to reach the day’s high of $7.06. Moreover, APT is expected to reach new heights with an upward trend. A few days ago, Aptos was leading at the top of the decliners list. Now APT has become the top gainer in the last 24 hours. While the whole crypto community watches out for the SEC’s lawsuit against the top crypto exchanges, the sudden surge of APT brings back trust in the crypto market. At the time of writing, the trading price of the Aptos is around $7.01, with a massive increase of 11.08% in the last 24 hours. The trading volume of APT has experienced a surge of 227.71%, according to CoinMarketCap. Recommended For You: Aptos (APT) Price Prediction 2023

The court denied the SEC’s request for a TRO and to freeze assets. The SEC’s lawsuit has damaged the business and reputation of the crypto exchange. The U.S. Securities and Exchange Commission filed a lawsuit against the world’s largest crypto exchange, Binance. The SEC’s ongoing lawsuit against the leading crypto exchange has gained significant attention within the crypto community. On June 17, the crypto exchange shared an update on the ongoing lawsuit. Binance stated that the court denied the SEC’s request to TRO and freeze assets on its platform, which was unjustified by both the facts and the law. Binance will Fight Till the End The crypto exchange Binance is defending itself against the SEC’s lawsuit. In a recent update, Binance shared that the SEC’s lawsuit has damaged the business and reputation of the crypto exchange. Binance mentioned that the exchange was able to reach the court-ordered agreement with the SEC that allows it to continue its ordinary course of business. Moreover, the SEC has never presented any evidence on the allegation that the exchange misused customer assets. Even the SEC lawyers admitted that they had no proof that something like this had happened when questioned about it earlier this week. In the update, the crypto exchange expressed that the SEC’s request would have the efficiency to shutter its business. The SEC continued its efforts to bring down the cryptocurrency industry, even by presenting false accusations. The SEC’s continuous allegations about the crypto industry had a massive impact on the market. Especially the crypto exchange Binance has experienced huge damage. Moreover, the exchange has stated that it will keep fighting to defend itself from the lawsuit. The whole crypto community is waiting for the end of the lawsuit.

Ripple’s SEC lawsuit is viewed as a strategic advantage in retrospect. The litigation experience has established a defense playbook for the crypto industry. Ripple’s tenacity turned the SEC’s attack into a crypto industry rallying point. As the crypto industry battles it out with regulatory bodies, Ripple has emerged as a stalwart. Astonishingly, the company’s CLO, Stuart Alderoty, declare the 2020 lawsuit from the Securities and Exchange Commission (SEC) as a blessing. Besides drawing attention to the broader issues in crypto-regulation, the lawsuit has strategically positioned Ripple at the forefront of this confrontation. In December 2020, the SEC’s lawsuit announcement came as an unwanted Christmas gift. Ripple, however, pledged to defend their cause robustly. Moreover, they vowed to uphold the rights of the entire U.S. crypto industry. Despite initial skepticism from some quarters, Ripple held fast to its promise. Ripple’s Unexpected Benefit From SEC’s Lawsuit Significantly, Ripple acknowledges the peculiar advantage they have gained from the SEC’s early litigation. While they stand at the conclusion of their legal odyssey, others are only beginning theirs with the SEC. Hence, Ripple’s lawsuit experience, far from being a deterrent, has proved beneficial. Consequently, they’ve created a strong defense narrative that many crypto players now emulate when facing the SEC’s wrath. Ripple openly welcomes this imitation, showing a strong spirit of industry solidarity. However, it’s not just about survival. The lawsuit has allowed Ripple to create, refine, and test a defense strategy that other crypto businesses can apply. Therefore, Ripple’s ordeal has become a guiding light for the crypto industry navigating the labyrinth of regulatory lawsuits. In conclusion, Ripple’s journey through litigation has been far more than a battle for survival. It’s been a rallying call for unity and a testament to resilience. Consequently, Ripple’s unexpected benefit from the SEC’s lawsuit will continue to influence the crypto industry, marking a defining moment in its history.

UNIUSDT is currently in a consolidation phase, displaying a Horizontal Channel Pattern Setting an entry point at $4.435 and targeting $5.10 Uniswap (UNI) has entered a consolidation phase, displaying a Horizontal Channel Pattern within the price range of $4.245 and $4.656. This pattern shows a period of price consolidation and suggests that UNIUSDT is currently trading within a specific range. Additionally, the presence of a Wyckoff structure adds further indicators to the trade setup. Traders and investors are now looking for a potential breakout from this consolidation, which could provide trading opportunities. According to CoinMarketCap, the UNI is trading at $4.56, with a 24-hour trading volume of $47.5M, at the time of writing. UNI/USDT Price Chart (Source: TradingView) UNIUSDT Price Analysis: Consolidation Phase Points to Potential Breakout Opportunity Traders and investors can consider the following trade setup based on technical analysis: Entry: Using the Smart Money Concept, the identified entry spot for this trade setup is $4.435. This level represents an opportune moment to enter a long position, anticipate a potential breakout from the Horizontal Channel Pattern. The Smart Money Concept involves aligning with institutional or well-inform market participants to potentially benefit from their actions. Target: The target for this trade setup is set at $5.10, offering a favorable upside potential from the breakout level. This target represents the expected price movement after the breakout occurs. Traders should adjust their targets based on their risk tolerance and market conditions. Stop Loss: To effectively manage risk, it is required to set a stop loss at $4.425. Placing the stop loss slightly below the entry spot helps protect against potential downside movements and minimizes potential losses. All-in-all, It is essential for traders to manage risk by implementing a stop loss at $4.425. As with any investment decision, conducting thorough analysis and staying updated with market conditions remain crucial factors for successful trading in UNIUSDT. Disclaimer: Any information contained in this article is not proposed to be and doesn’t constitute financial advice, investment advice, trading advice, or any other advice. The NewsCrypto is not responsible to anyone for any decision made or action taken in conjunction with the information and/or statements in this article.

Judge Amy Berman Jackson of the US District Court approved the settlement. Binance.US will submit a comprehensive financial statement to the US SEC in few weeks. On June 17, Binance and BAM Trading (Binance.US) reached a settlement with the US Securities and Exchange Commission (SEC), with the “Proposed Stipulation and Consent Order” being authorized by Judge Amy Berman Jackson of the US District Court for the District of Columbia. According to previous reports, the planned agreement only allows access to client assets on the US-based crypto exchange to the staff of Binance.US. Moreover, Binance global authorities within 14 days will be denied access to the private keys of any Binance.US wallet. Whether it be a cold wallet, a hot wallet, a hardware wallet, or a software wallet. Strictly No Access Binance must “repatriate” any fiat cash and crypto assets associated with Binance U.S. This is according to the consent decree granted by Judge Amy Berman Jackson on or before the day on which this order is issued by the court. Moreover, Binance and its CEO, Changpeng Zhao, are not allowed to have access to, or control over, client assets in Binance U.S. Binance US has been forced to generate fresh crypto wallets. Complete with brand-new private and administrative keys, as both need to have different wallets and management teams. In addition, there are a number of scenarios in which Binance.US might hand over crypto custody for the staking-as-a-service program to third-party custodians BitGO or Aegis. Additionally, during the following few weeks. Binance.US will submit a comprehensive financial statement to the US SEC. That will include company expenditures and expected costs from December 1, 2022 to the date of the accounting. On June 23, the federal court ordered the parties to provide a status report. Suggesting a timetable for future proceedings or laying out the parties’ individual offers. If they were unable to reach an agreement. Recommended For You: Coinbase Urges Court To Grant Mandamus Post Delay by U.S SEC

BitPay will facilitate the use of cryptocurrencies by fans and the general public. The professional basketball team is now indirectly backing the adoption of DOGE and XRP. The London Lions, a professional basketball club in the United Kingdom, has taken a tentative step into the crypto realm by forming a partnership with BitPay to accept digital currencies for goods purchases. In a first for the crypto and sports worlds, the alliance essentially means the professional basketball team is now indirectly backing the adoption of popular digital currencies such as Dogecoin (DOGE), and XRP. Moreover, BitPay facilitates the use of cryptocurrencies by fans and the general public who want to purchase team jerseys and accessories. BitPay supports a wide variety of digital currencies. Including Dogecoin, XRP, Shiba Inu (SHIB), Bitcoin (BTC), and Ethereum (ETH), among others. Bitpay-Bridging the Gap As one of the most widely used crypto payment systems in the Web 3.0 era. BitPay is helping to bridge the gap between traditional businesses and the cryptocurrency ecosystem. Last year, it was reported that BitPay had assisted Spanish Airlines in starting to accept cryptocurrency payments for airline tickets. Through strategic alliances, the payment processor has increased the number of businesses that are interested in cryptocurrencies. The London Lions basketball club’s collaboration with BitPay is well-known. Although it is not the first example of a sponsorship contract between a sports team and the cryptocurrency industry. Mark Cuban, owner of the Dallas Mavericks and a vocal proponent of cryptocurrency, made history in 2021. When the franchise became the first NBA franchise to accept DOGE as payment for product sales. The London Lions’ decision to back Dogecoin, XRP, and other cryptocurrencies might serve as a model for future adoption by mainstream businesses.

Fans can now shop using their cryptocurrency at the London Lions marketplace. Shiba Inu was accepted as payment for merchandise from the London Lions. BitPay, the crypto app to pay with crypto, has announced that users can now shop using their cryptocurrency at Europe’s biggest basketball team, the London Lions marketplace. As more mainstream institutions recognize the benefits of embracing cryptocurrencies. The London Lions marketplace’s integration with BitPay is a significant step towards cryptocurrency adoption within the sports industry. On June 17, BitPay revealed its partnership with the basketball team London Lions. The platform mentioned that the London Lions are bridging the gap between sports and cryptocurrency. The partnership allows fans to buy goods and tickets using cryptocurrencies. Moreover, London Lions Club merchandise, such as jerseys and accessories, can purchase using cryptocurrencies. Bitpay Made a Significant Milestone in the Sports Sector The popular memecoin Shiba Inu (SHIB), Bitcoin (BTC), Ethereum (ETH), and the other cryptocurrencies supported by BitPay accepted as payment for merchandise from the London Lions. By allowing fans to utilize cryptocurrencies for purchasing goods and tickets, the London Lions are embracing the future of crypto while providing their supporters with a seamless and innovative shopping experience. The London Lions have made a ground-breaking move by integrating BitPay into their marketplace. Moreover, the basketball team well known for its massive fan base. BitPay expects that the integration will increase crypto usage in the sports sector. The prominent crypto payment service provider, Bitpay, has remained dedicated to fostering cryptocurrency adoption by continuously expanding its offerings and partnerships. The partnership between BitPay and the London Lions marks a milestone in the sports industry. Moreover, this collaboration signifies a significant step towards bridging the gap between the sports industry and the world of cryptocurrencies.

ALICE token is currently experiencing a consolidation phase. Setting a target at $1.351, while managing risk with a stop loss positioned at $0.810. My Neighbourhood Alice (ALICE) has entrenched in a bearish trend, characterized by lower highs and lower lows since mid-March 2023. According to CoinMarketCap, ALICE price is trading at $0.9049 with a 24-hour trading volume of $11,221,153, at the time of writing. In the world of cryptocurrency trading, identifying potential breakout opportunities can be a thrilling endeavor for traders and investors. One such intriguing possibility arises with ALICEUSDT. Moreover, the recent market developments have unveiled an intriguing consolidation phase, forming a distinct trend line support level ranging from $0.810 to $0.900 for ALICE. This consolidation presents an exciting prospect for a potential bullish breakout if the price manages to surpass the upper boundary of this range. ALICE Price Chart (Source: TradingView) ALICEUSDT Price Analysis Signals a Promising Long Position Opportunity Traders and investors are keeping a close eye on ALICEUSDT, anticipating an opportune moment to capitalize on this potential breakout. By carefully analyzing the price action and chart patterns, traders can plan their entry, target, and risk management strategies to optimize their trading positions. Traders and investors can consider the following trade setup: Entry: Once the price successfully breaks above the consolidation range, particularly surpassing the $0.91 threshold, it could serve as an opportune moment to enter a long position. More so, such a breakout would signify a shift in market sentiment, with an increased influx of buying pressure. Target: Setting a target at $1.351, traders can aim for a significant potential upside from the breakout level. It’s important to adjust targets based on personal risk tolerance and prevailing market conditions. Stop Loss: To effectively manage risk, it is recommended to place a stop loss at $0.810, positioned below the lower boundary of the consolidation range. This level allows for a margin of safety in the event of a failed breakout and subsequent price retracement. Furthermore, ALICEUSDT presents a tantalizing opportunity for traders to potentially profit from a bullish breakout. By closely monitoring the price action and employing appropriate trading strategies, market participants can position themselves to seize potential gains while effectively managing risks. Disclaimer: Any information contained in this article is not proposed to be and doesn’t constitute financial advice, investment advice, trading advice, or any other advice. The NewsCrypto is not responsible to anyone for any decision made or action taken in conjunction with the information and/or statements in this article.

The SEC asked to extend the deadline for responding to the rulemaking petition by 120 days. Coinbase pleaded with the court to mandate a response from the US SEC within 60 days. Coinbase is seeking a favorable ruling from a federal district court as the U.S. Securities and Exchange Commission (SEC) continues its assault on the cryptocurrency business. Moreover, Coinbase has submitted a response to the commission’s request to extend the deadline for responding to the rulemaking petition by 120 days. Coinbase’s Chief Legal Officer Paul Grewal made the announcement that the company has filed a rebuttal to the US SEC’s answer in the Third U.S. Circuit Court of Appeals. He said that they couldn’t wait until the next deadline to have an answer since it’s so rare for the administration to ignore a question from a federal court. Lack of Clear Regulations In response to Coinbase’s rulemaking petition, the Commission said that it has not yet determined the course of action to pursue. However, it requested an extension of time before a response could be submitted. Despite the lack of clear regulations, it has been claimed that the US SEC has filed enforcement proceedings against the crypto-related industry. The legal head at Coinbase remarked that since the US SEC has opted not to allow the cryptocurrency exchange’s petition, the court should issue a mandamus to them. He continued by saying that any delay would be fruitless in light of the commission’s denial as expressed in their most recent court statement. The crypto exchange pleaded with the court to mandate a response from the US SEC within 60 days. This statement, however, should not be a foregone conclusion of the staff in order to allow the court to make a prompt decision on the mandamus petition. Recommended For You: Delio CEO Announces Plans To Restart Withdrawals Gradually

The time frame for compensation and payment mechanism was not specified. Earlier, Delio switched to a remote workforce and briefly halted its withdrawal services. Delio, the leading cryptocurrency lending platform in South Korea and a central figure in the Lugpool dispute, temporarily halted withdrawals two days ago. The company’s CEO has lately revealed intentions to gradually restart withdrawals. Delio CEO Jeong Sang-ho announced the gradual resumption of withdrawal services at a conference with investors. The CEO did note, however, that things may change depending on developments involving Haru Investment and B&S. The two companies with whom Delio works closely. No Details Mentioned Jeong said that the bankruptcy processes being undertaken by Haru Invest created doubts about the company’s ability to deliver on the promised return on deposits. The CEO reassured shareholders that measures had been taken to recoup the losses notwithstanding the difficulties. Investors were appeased by a declaration, but the time frame for compensation, payment mechanism, and the exact level of harm was not specified. CEO Jeong said that despite the losses, Delio is committed to securing as much money as feasible. One option being considered is a paid-in capital increase from an outside party. While the CEO’s intent was to reassure investors, no concrete information was provided about when the debt would be paid back. Delio got into this jam because it had given part of its customers’ money to Haru Invest, which had entrusted its own money to B&S. The effects of Haru Invest’s withdrawal freeze on B&S immediately reached Delio. Delio thus switched to a remote workforce and briefly halted its own withdrawal services. But CEO Jeong has spoken out about his desire to return things to normal. The Delio website boasts a total asset value of $9.5 billion. Recommended For You: Delio Temporarily Suspends Customer Withdrawals Amidst Market Volatility