The warning letter was sent to OKCoin’s CEO Hong Fang by FDIC. The agency has a set of rules that the crypto firms should implement. The FDIC has warned the California-based cryptocurrency exchange OKCoin USA Inc., which is affiliated with the OKX, to avoid exploiting the FDIC’s name to strengthen its validity. The letter, sent to OKCoin’s CEO Hong Fang, raised concerns that the platform may be in breach of the FDIA’s Section 18(a)(4). Moreover, any advertising or other written materials implying that an uninsured or possibly uninsured deposit is protected by the FDIC are in violation of this provision of the FDIA. The FDIC has now officially announced that insurance is not available in the case of OKCoin. The authorities stated: Comprehensive Set of Rules The FDIC claims that on three different instances, including a tweet that has since been removed, an OKCoin executive falsely represented that customers’ savings were protected by the FDIC. Nonetheless, OKCoin’s promotional blog article still includes the FDIC insurance claim. The Federal Deposit Insurance Corporation (FDIC) has issued a warning to crypto companies before about the dangers of claiming an endorsement from them. During the preceding year, letters of a similar kind were delivered to five other exchanges, including FTX and Voyager Digital. When it comes to dealing with the FDIC, the agency has developed a comprehensive set of rules that the cryptocurrency business should implement. Recommended For You: Galaxy Digital’s Mike Novogratz Backs Blackrock’s Spot Bitcoin ETF

Binance exits the Dutch market after failing to secure a regulatory license. Dutch users urged to withdraw assets as Binance departs the Netherlands Binance, the world’s largest cryptocurrency exchange, is withdrawing from the Netherlands following its unsuccessful attempt to obtain a virtual asset service provider (VASP) license from the Dutch regulator. The license would have certified it’s compliance with anti-money laundering (AML) guidelines. Starting from July 17, 2023, Dutch residents will only be able to withdraw their funds from the platform. There will be no further trading, deposits, or purchases permitted. Europe has generally embraced cryptocurrency exchanges and their AML efforts. But Binance‘s application process in the Netherlands did not result in the desired license. The exchange remains AML-compliant in several other European countries, including France, Italy, Spain, Poland, Sweden, and Lithuania. Binance recently announced plans to leave Cyprus in order to focus on achieving full compliance with the new European Union crypto-assets regulations (MiCA). Binance expressed its disappointment at leaving the Dutch market. And assured existing Dutch users that they will receive detailed information about their accounts and the necessary steps to be taken. The exchange intends to continue engaging with Dutch regulators in hopes of finding a future resolution.

Bullish ARB price prediction for 2023 is $1.0624 to $1.2819. Arbitrum (ARB) price might reach $2 soon. Bearish ARB price prediction for 2023 is $0.7352. In this Arbitrum (ARB) price prediction 2023, we will analyze the price patterns of ARB by using accurate trader-friendly technical analysis indicators and also predict the future movement of the cryptocurrency. Arbitrum (ARB) Current Market Status Current Price $0.9532 24 – Hour Trading Volume $150M 24 – Hour Price Change 3.58% up Circulating Supply 1,275,000,000 All – Time High $11.80 (On March 23, 2023) ARB Current Market Status (Source: CoinMarketCap) What is Arbitrum (ARB)? Arbitrum is a new layer-2 scaling solution for the Ethereum blockchain developed by a New York-based company known as Off-chain Labs. Layer-2 scaling solutions are networks that sit on top of layer-1 blockchains to provide cheap and fast transactions. They reduce the congestion on the main blockchain by validating transactions separately and integrating them into the main chain. After its mainnet launch last year, Arbitrum’s scaling solution has seen a lot of success. As a result of this, several developers have used Arbitrum’s solutions to host their dApps. Arbitrum also supports integration with the Ethereum Virtual Machine (EVM), making it easy for developers. Arbitrum (ARB) Price Prediction 2023 Arbitrum (ARB) ranks 36th on CoinMarketCap in terms of its market capitalization. The overview of the Arbitrum price prediction for 2023 is explained below with a daily time frame. ARB/USDT Descending Channel Pattern (Source: TradingView) In the above chart, Arbitrum (ARB) laid out a descending channel also known as the falling channel. A descending channel is formed by two parallel trendlines. The upper trendline, which joins the highs, and the lower trendline, which joins the lows, run parallel downward. This pattern is the characteristic of a bearish market. At the time of analysis, the price of Arbitrum (ARB) was recorded at $1.14. If the pattern trend continues, then the price of ARB might reach the resistance levels of $1.2631 and $1.1492. If the trend reverses, then the price of ARB may fall to the support of $0.7596, & $8935. Arbitrum (ARB) Resistance and Support Levels The chart given below elucidates the possible resistance and support levels of Arbitrum (ARB) in 2023. ARB/USDT Resistance and Support Levels (Source: TradingView) From the above chart, we can analyze and identify the following as the resistance and support levels of Arbitrum (ARB) for 2023. Resistance Level 1 $1.0624 Resistance Level 2 $1.2819 Support Level 1 $09080 Support Level 2 $0.7352 ARB Resistance & Support Level As per the above analysis, if Arbitrum’s (ARB) bulls take the lead, then it might hit and break through its resistance level of $1.2819. Conversely, if Arbitrum’s (ARB) bears dominate the trend, the price of ARB might plunge to $0.7352. Arbitrum (ARB) Price Prediction 2023 — RVOL, MA, and RSI The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Arbitrum (ARB) are shown in the chart below. ARB/USDT RVOL, MA, RSI (Source: TradingView) The technical analysis indicator Relative Volume (RVOL) is used to measure the trading volume of an asset in relation to its recent average volumes. It is typically calculated by dividing the current day’s trading volume by the average volume over a specified period, such as the past 20 or 50 trading days. Also, it helps traders in identifying unusual trading activity and changes in market sentiment. At the time of analysis, the RVOL of Arbitrum (ARB) was found below the cutoff line. Thus, it denotes a weak volume of participants trading in the current trend. The next technical indicator is the Moving Average (MA). This momentum indicator is used to smooth out price data and identify trends in the market. It helps in calculating the average price of an asset over a specific period. Particularly, the 50-day moving average (50 MA) evaluates the average closing price of the asset over the past 50 days. When the price of an asset is above 50MA, it is considered to be in an uptrend (bullish), and if laid below 50MA, it is in a downtrend (bearish). Notably, in the above chart, the ARB price lies below 50 MA (short-term), indicating its downward. Hence, ARB is in a bearish state. Although this is the current state, a trend reversal might occur. Next up is the Relative Strength Index (RSI). Significantly, this analysis indicator helps traders to determine the strength and momentum of an asset’s price movement over a specific period. In this analysis, the RSI is calculated by comparing the average gains and losses of the asset over the past 14 periods. The resulting value lies between a range of 0 and 100. Hence, the readings above 70 indicate an overbought state, and below 30 indicate an oversold state. Significantly, traders often use the RSI to identify potential trend reversals or to confirm the trend’s direction. For instance, if an asset is in an uptrend and the RSI reaches an overbought reading of 70, it may suggest that the asset is due for a pullback or correction. Conversely, if an asset is in a downtrend and the RSI is in an oversold reading of 30, it may suggest a potential reversal. At the time of analysis, the RSI of ARB is at 42.57. Therefore, this indicates ARB is neither an overbought nor an oversold state. Arbitrum (ARB) Price Prediction 2023 — ADX, RVI In the below chart, we analyze the strength and volatility of Arbitrum (ARB) using the following technical analysis indicators – Average Directional Index (ADX) and Relative Volatility Index (RVI). ARB/USDT ADX, RVI (Source: TradingView) To analyze the strength of the trend momentum, let us take note of the Average Directional Index (ADX). The ADX value is derived from the two directional movement indicators (DMI) such as +DI and -DI and is expressed between 0 to 100. According to the data on the above chart, the ADX of ARB lies in the range of 32.9088 pointing out a weak trend. The above chart also displays another technical indicator – the Relative Volatility Index (RVI). This indicator measures the volatility of an asset’s price movement over a specific period. With respect to the chart’s data, the RVI of ARB lies above 50, indicating high volatility. Comparison of ARB with BTC, ETH Let us now compare the price movements of Arbitrum (ARB) with that of Bitcoin (BTC), and Ethereum (ETH). BTC Vs ETH Vs ARB Price Comparison (Source: TradingView) From the above chart, we can interpret that the price action of ARB is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of ARB also increases or decreases respectively. Arbitrum (ARB) Price Prediction 2024-2030 With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Arbitrum (ARB) between 2024 and 2030. Arbitrum (ARB) Price Prediction 2024 If bulls dominate the price momentum and trend patterns, then Arbitrum (ARB) might successfully test and surpass its resistance levels to hit $2 by 2024. Arbitrum (ARB) Price Prediction 2025 The significant upgrades in the Arbitrum ecosystem might persuade the entry of an increased number of investors. This may eventually boost the Arbitrum (ARB) price to reach $3 by 2025. Arbitrum (ARB) Price Prediction 2026 If Arbitrum (ARB) successfully tests its major resistance levels and continues to move upside, then it would rally to hit $5 Arbitrum (ARB) Price Prediction 2027 If Arbitrum (ARB) sustains major resistance levels and stands as a better investment option in the market, then ARB would rally to hit $7 Arbitrum (ARB) Price Prediction 2028 If Arbitrum (ARB) holds a positive market sentiment amid the highly-volatile crypto market by driving significant price rallies, then ARB would hit $9 by 2028. Arbitrum (ARB) Price Prediction 2029 If investors flock in and continue to place their bets on Arbitrum (ARB), then the crypto would witness major spikes. Hence, ARB might hit $11 by 2029. Arbitrum (ARB) Price Prediction 2030 By 2030, the ARB price might rally to $13 if the trend momentum aligns in favor of Arbitrum. Furthermore, ARB would hold a positive market sentiment and be labeled as a long-term investment with highly profitable ROI. Conclusion If Arbitrum (ARB) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Arbitrum (ARB) price prediction for 2023 is $1.2819. Comparatively, the bearish Arbitrum (ARB) price prediction for 2023 is $07352. If there is a positive elevation in the market momentum and investors’ sentiment, then Arbitrum (ARB) might hit $2. Furthermore, with future upgrades and advancements in the Arbitrum ecosystem, ARB might surpass its current all-time high (ATH) of $11.80 and mark its new ATH. FAQ 1. What is Arbitrum (ARB)? Arbitrum is a new layer-2 scaling solution for the Ethereum blockchain developed by a new york based company known as Off-chain Labs. 2. Where can you buy Arbitrum (ARB)? Traders can trade Arbitrum (ARB) on the following cryptocurrency exchanges such as Binance, OKX, Deepcoin, Bybit, and CoinW. 3. Will Arbitrum (ARB) record a new ATH soon? With the ongoing developments and upgrades within the Arbitrum platform, Arbitrum (ARB) has a high possibility of reaching its ATH soon. 4. What is the current all-time high (ATH) of Arbitrum (ARB)? Arbitrum (ARB) hit its current all-time high (ATH) of $11.80 on March 23, 2023. 5. What is the lowest price of Arbitrum (ARB)? According to CoinMarketCap, ARB hit its all-time low (ATL) of $1.1045 On March 23, 2023 6. Will Arbitrum (ARB) hit $2? If Arbitrum (ARB) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $2 soon. 7. What will be the Arbitrum (ARB) price by 2024? Arbitrum (ARB) price might reach $2 by 2024. 8. What will be the Arbitrum (ARB) price by 2025? Arbitrum (ARB) price might reach $3 by 2025. 9. What will be the Arbitrum (ARB) price by 2026? Arbitrum (ARB) price might reach $5 by 2026. 10. What will be the Arbitrum (ARB) price by 2027? Arbitrum (ARB) price might reach $7 by 2027. Top Crypto Predictions Uniswap (UNI) Price Prediction 2023 Ripple (XRP) Price Prediction 2023 Dogecoin (DOGE) Price Prediction 2023 Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.

PEPE delisting on Flexible Loan platform commences June 21, 2023, 08:00. PEPE has decreased by 13.9% over the past week. The world-renowned cryptocurrency exchange Binance has decided to delist PEPE as a borrowable asset on its Flexible Loan platform. As per Binance’s official statement, starting from June 21, 2023, at 08:00 (UTC), users will lose the ability to borrow PEPE on the Flexible Loan platform, in line with the delisting announcement. Users are strongly urged to repay any existing loans before the specified deadline to prevent potential liquidation. Failure to do so may result in a 2% liquidation fee in relevant cases. PEPE is currently at $0.0000009330, accompanied by a significant 24-hour trading volume of $124,571,722. Over the past day, PEPE has shown a notable 7.14% increase. PEPE price chart (source: TradingView) Albeit, The coin’s value has dropped by 13.9% over the past week, posing challenges for investors. Binance’s listing announcement on May 5, 2023, propelled Pepecoin to new heights, hitting an all-time high of $0.000004354 per coin. This remarkable achievement drew significant interest from investors and enthusiasts, showcasing the immense potential of cryptocurrency. Binance Flexible Loan enforces repayment exclusively in the borrowed cryptocurrency. Hence, users are advises to have the required PEPE funds readily available to fulfill their loan repayment obligations promptly. Recommended For You: Pepe (PEPE) Price Prediction 2023 Binance Coin (BNB) Price Prediction 2023

Texas Regulators crack down on Abra for unregistered swaps compliance concerns arise. In 2020, Abra faces federal actions, that charged respondent Plutus Financial and its subsidiary. One more catastrophe occurred in the highly volatile cryptocurrency market. In a dramatic turn of events, crypto trading platform Abra and its CEO, William (Bill) Barhydt, are facing allegations of securities fraud as the Texas State Securities Board filed an emergency cease and desist order against the company. The regulator claims that Abra ”engaged in deceptive practices and misled investors. Through its Abra Earn and Abra Boost crypto interest accounts.” According to the filing made on Thursday, the Texas State Securities Board asserts that Abra misrepresented information to investors regarding its offerings. Also, the board alleges that Abra failed to disclose vital details about the nature of its investment products. That leads to potential misinterpretations and false expectations among investors. Texas Regulators Crack Down on Abra The order issued by the Texas State Securities Board cast a dark cloud over the crypto market and sent shockwaves through the cryptocurrency community. One of the main allegations put forth by the regulator is that “Abra secretly transferred assets to Binance Holdings,” which is currently embroiled in legal troubles. The US Securities and Exchange Commission (SEC) has filed a lawsuit against Binance for operating an unregistered cryptocurrency exchange. The alleged association between Abra and Binance raises concerns about the legitimacy and regulatory compliance of Abra’s operations. Further, the Texas State Securities Board claims that Abra has been either insolvent or on the brink of insolvency since the end of March. Also, the board argues that Abra’s financial instability was not adequately disclosed to investors. Potentially exposing them to significant risks without their knowledge. Also, the legal proceedings made investors and industry stakeholders anxious. However, in July 2020, the SEC and the CFTC took action against crypto lender Abra for engaging in unregistered swaps. Plutus Financial and its subsidiary agreed to both penalties (a total of $300,000) without admitting or denying the findings. Also, they consented to a civil monetary penalty and committed to cease and desist. From further violations of the Commodity Exchange Act.

Bankman Fried’s new charges withdrawal proceeded by prosecutors. Soon in October, the trial of neglecting the charges issued by a federal court judge. The FTX crypto exchange has severe charges due to the bankruptcy faced. As per the court filing, the federal prosecutors are processing to withdraw the charges imposed on FTX and the founder, Sam Bankman Fried. According to the court report, over 13 accusations against Bankman Fried were filed. Furthermore, Bankman Fried brought forth that the added claims and charges against him should have been neglected by the federal prosecutors. Neglecting Implied Newer Charges In the U.S. District Court in Manhattan, Judge Lewis A. Kaplan has withdrawn the case for a second trial in the upcoming 2024. Meanwhile, added that the trial would be started in October as the information said. Currently, over this week, the Bahamian government shouldn’t be concerned with the extra charges, Bankman Fried put forward. However, the Bahamas claimed that this would ‘simplify the proof at trial and decrease the burden of trial preparation.’ Once after the arrest warrant issuance, Bankman Fried was provided bail when he arrived in Palo Alto, California, U.S. – under house arrest. Soon in February, the additional claims of the indictment from four to eight. Moreover, the accusations list added the fraudulent activity on banks through unlicensed transactions and businesses. This Wednesday, between the Bahamas and the United States, there are new charges implied on Bankman Fried. All such charges are halted as per the prosecutor’s indulgence. Also, this has been proceeded by a Bahamian judge with an authorized court. This Thursday, Bankman Fried’s lawyers assembled for dropping the additional charges forced on him in the federal court. Recommended For You: Court Grants Defunct FTX Permanent Anonymity for Its Customers

NYAG mentioned that CoinEx has failed to register as a broker-dealer. CoinEx users can recover crypto funds directly from the exchange over the next 90 days. CoinEx, the Hong Kong-based crypto exchange, has been banned from operating in New York by Attorney General Letitia James. NYAG mentioned that the crypto exchange has failed to register as a broker-dealer. So the authorities shut down the crypto exchange. On June 15, the NYAG announced that it had shut down the Hong Kong-based crypto exchange CoinEx in New York. Moreover, NYAG mentioned that CoinEx has falsely represented itself as a crypto exchange. The NYAG’s Lawsuit Against CoinEx According to the report, the NYAG has seized the crypto exchange’s fund of over $1.7 million for allegedly failing to register as a securities and commodities brokerage. However, previously, the NYAG filed a lawsuit against the crypto exchange in February. The New York attorney general alleged that it falsely represented itself as an exchange and failed to register with local authorities. As a result, the crypto exchange has banned from offering, selling, or purchasing securities and commodities in New York and prohibited from making its platform available in the state. According to the agreement, 4,691 New York investors will receive a refund of over $1.1 million, while the state will receive fines totaling more than $600,000. Letitia James, New York Attorney General stated Moreover, CoinEx users can recover crypto funds directly from the exchange over the next 90 days. Adding to that, CoinEx not permitted to open any new accounts for U.S. customers, and current U.S. customers only permitted to withdraw their cryptocurrency from the site.

Binance Coin (BNB) is gaining popularity due to its utility within the Binance ecosystem. Cardano (ADA) stands out with its scientific approach and emphasis on peer-reviewed research. Solana (SOL) excels in performance with its high transaction throughput and low fees. In the ever-evolving landscape of cryptocurrencies, staying updated on the latest trends and market movements is crucial for investors and enthusiasts alike. June is an exciting month in digital currencies, with several coins poised for potential growth and breakthroughs. Whether you’re an experienced investor or a curious newcomer, understanding the top 3 cryptocurrencies to watch out for this June can provide valuable insights and help you confidently navigate this dynamic market. Let’s discuss a few coins that appear to be trending up and will likely surge in June. Binance Coin (BNB) Binance Coin (BNB) is the primary digital currency for the renowned Binance exchange, a leading player in the global cryptocurrency market. Recognized as one of the largest and most influential crypto exchanges, Binance has propelled BNB into the spotlight. The native cryptocurrency has garnered substantial attention due to its vital role within the Binance ecosystem. BNB offers its holders many advantages, including reduced trading fees and exclusive opportunities to engage in token sales through the Binance Launchpad. The utility of BNB within the Binance platform has significantly contributed to its popularity. As the native cryptocurrency, BNB allows users to access various benefits and features that enhance their trading experience. Binance Coin holders enjoy discounted trading fees, providing a cost-effective advantage when executing transactions on the Binance exchange. Additionally, BNB holders gain privileged access to token sales hosted on the Binance Launchpad, allowing them to invest in promising blockchain projects early on. Through its utility-driven ecosystem, BNB has established itself as a significant digital asset, attracting traders and investors seeking to leverage the benefits of the Binance platform. BNB/USD 24-hour price chart (source: CoinMarketCap) Over the past 24 hours, Binance Coin (BNB) has exhibited a bullish trend, showcasing a price surge of 0.58%. Presently, BNB is being traded at $237.82, reflecting positive momentum in the market. However, the trading volume has experienced a slight decrease of 29.65%, amounting to $528,112,036. Despite this decline, BNB holds a favorable position in the crypto market. Cardano (ADA) Cardano (ADA) stands out among blockchain platforms with its scientific approach, aiming to offer a robust and scalable foundation for decentralized applications and smart contracts. What sets Cardano apart is its emphasis on incorporating peer-reviewed research and utilizing a layered architecture. Cardano strives to provide a secure and efficient infrastructure for developing innovative decentralized solutions by prioritizing scalability, security, and sustainability. Cardano’s unique approach to blockchain technology revolves around its scientific principles. The platform prioritizes incorporating peer-reviewed research into its development process, ensuring a solid foundation for its infrastructure. ADA/USD 24-hour price chart (source: CoinMarketCap) With a layered architecture, Cardano focuses on scalability, security, and sustainability, aiming to provide a reliable and efficient platform for building decentralized applications and smart contracts. By blending scientific rigor with innovative technologies, Cardano aims to create a secure and scalable environment for the future of blockchain-based solutions. According to CoinMarketCap, the Cardano is presently traded at $0.2645 with a 24-hour trading volume of $263,828,293. Solana (SOL) Solana (SOL) is a blockchain platform that excels in performance, specifically designed for decentralized applications and cryptocurrency projects. Its exceptional architecture, coupled with the innovative Proof of History (PoH) consensus algorithm, enables Solana to efficiently handle many transactions while maintaining low fees and fast confirmation times. This scalability and its developer-friendly ecosystem have attracted many projects to leverage Solana as their preferred platform for building innovative solutions. With a focus on high-performance blockchain technology, Solana (SOL) stands out as a premier platform for decentralized applications and crypto projects. Its distinctive architecture, powered by the groundbreaking Proof of History (PoH) consensus algorithm, enables Solana to manage a high volume of transactions effortlessly, offering users low fees and rapid confirmation times. SOL/USD 24-hour price chart (source: CoinMarketCap) This scalability and its developer-centric environment have established Solana as an attractive choice for numerous projects seeking to create cutting-edge applications and ventures in the crypto space. As per CoinMarketCap, Solana is trading at $14.93 with a 24-hour trading volume of $330,884,105.

Tether prioritizes transparency and drops opposition to FOIL for openness. Disclosed documents confirm Tether’s reserves, debunking rumors about reliability. In a noteworthy move, Tether, the leading stablecoin, has decided to drop its opposition to the Freedom of Information Law (FOIL) matter. This pivotal decision stems from Tether’s commitment to transparency, particularly during the prevailing financial uncertainty. At its heart, Tether aims to provide openness, stability, and liquidity, critical values to its thriving community. Today, Tether stands robust, boasting the largest market cap in its history. Earlier this year, Tether dutifully fulfilled its reporting obligations to the New York Attorney General’s Office, a requisite from its 2021 settlement. The process involved quarterly disclosures about Tether’s reserves for two years, all completed without any indications of inadequacy or incompletion. Transparency Triumphs as Tether Discloses Key Financial Documents However, Tether’s commitment to transparency faced a challenging scenario when CoinDesk, a renowned digital currency news company, sought public disclosure of Tether’s first quarterly reports under FOIL. Despite initial resistance to protect customer data and sensitive commercial information, Tether ultimately decided to place openness over protracted American litigation. Consequently, Tether yielded to CoinDesk’s request this morning. As per reports, the disclosed documents include bank statements affirming the existence of Tether’s reserves. Furthermore, the papers shed light on Tether’s commendable asset management practices, including short-term investments and diversification. Consequently, these revelations debunk unfounded rumors about the reliability of Tether’s backing. Nevertheless, the documents are outdated and do not reflect Tether’s current reserve status or the recent transformative changes. Notably, Tether released its commercial paper holdings in mid-2022 and planned to reduce its secured loans portfolio drastically. Unveiling the Conspiracy: Tether’s USDT Faces Dual Threat Conversely, Tether remains concerned about the simultaneous attack on USDT on DeFi and centralized exchanges that coincided with the document handover to CoinDesk. Nonetheless, they remain confident about their financial accuracy and are vigilant about customer data protection. Tether now looks forward to fair coverage from CoinDesk and urges them to abstain from disclosing customer names. Despite these challenges, Tether’s commitment to transparency remains unshaken. The company continues to champion its role as a force for good, providing robust liquidity and stability during black swan events. At the heart of it all, Tether stands firm, always ready to defend its customers, personnel, and community.

Offchain Labs supports Xai with scalability, security, and user-friendliness. Xai reduces transaction costs, allowing players to focus on gameplay. Xai’s platform offers robust security and hack resistance. Xai Foundation, a layer3 blockchain powered by Arbitrum (ARB) technology, is set to revolutionize the world of gaming. The Xai Foundation, in collaboration with Offchain Labs, will provide dedicated support to cater to the specific needs of game developers. By leveraging Offchain’s expertise, Xai ensures a solid scalability, security, and user-friendliness foundation. One of the key features of Xai is its focus on account and wallet abstraction, making it exceptionally easy for gamers to get on board. Simplifying the management of accounts and wallets eliminates barriers and encourages more players to embrace the crypto gaming ecosystem. Moreover, Xai’s infrastructure, overseen by the Xai Foundation and game developers, ensures a frictionless experience for gamers. The game developer significantly reduces and handles transaction costs, allowing players to immerse themselves in gameplay and derive maximum enjoyment. This approach shifts the attention away from financial constraints, enabling players to focus solely on having fun. Xai Sets New Gaming Standards Additionally, Xai offers higher contract limits, granting game developers the freedom to create immersive and captivating experiences. By removing limitations, Xai empowers developers to push the boundaries of innovation within the gaming industry. This newfound flexibility promises to deliver groundbreaking games that captivate audiences around the globe. Inspired by the success of Axie Infinity’s use of Ronin to scale, Xai addresses the critical need for scalability right from the start. Built on the secure Ethereum network, Xai offers a robust and resilient platform that surpasses other chains in hack resistance. Meanwhile, gamers can trust that their assets and transactions are safeguarded. Also, this is providing peace of mind and fosters a trustworthy gaming environment. Consequently, the collaboration between the Xai Foundation, Offchain Labs, and game developers marks a significant leap forward for the gaming industry. With Xai’s innovative features, seamless user experience, and enhanced scalability, the stage is set for a new era of gaming where players can indulge in thrilling adventures without limitations. However, the future of gaming has arrived, and Xai is leading the way. Recommended For You: Graph Goes L2: Arbitrum Integration Supercharges Scalability

XRP is sloping down by 4.97% over the last 24 hours. Japanese SBI Group is willing to adopt XRP by the year 2025. On Thursday, Ripple, the blockchain-based crypto firm collaborated with Colombia’s Central Bank named Banco de la República. Also, it is inspected that this partnership would explore the world of blockchain technology. Yet, the market has remarked a sudden drop than grossing high. The hitch is that the overall price of XRP on a monthly basis is increased by 11.74% but the current market price is down by 4.97%. Meanwhile, the market capitalization across the crypto market has decreased by 6.09%, worth $25B. XRP Price Chart (Source: CoinMarketCap) According to CoinMarketCap, the XRP is trading at an increased rate of over $2B by 30.08% when compared to the previous day. Ultimately, the current circulating supply of XRP tokens is halfway which is 51.99% of its total supply. As the crypto market is sloping down, the global market cap is decreased by 3.69% yet it holds $1.02 trillion. XRP Adoption in Japan By the time of 2025, the Japanese government is trying to adopt XRP by expanding in the banking sectors. The Strategic Business Innovator Group (SBI) discloses the XRP token adoption in Japan through a roadmap. Furthermore, it has been aimed to be brought by Osaka Expo thereby Tokyo’s SBI is marching to launch SBI VCTrade in the upcoming month. This outrages the exchange of Japanese Yen for XRP tokens which would liquidate the cross-border transactions. The CEO of SBI, Yoshitaka Kitao has added that the SBI’s efforts are nurturing compared to other financial firms. The XRP adoption is further raised as the expansion of futuristic cross-border settlements. Concerning Kitao’s view on XRP, the SBI Group is still ahead to build innovative development among Japan’s fintech institutions. Recommended For You: Ripple Partners With Columbian Central Bank Over CBDC Adoption

The entire loss from the assault, according to FPG’s estimations, is between $15 and $20M. FPG is a global brokerage that connects institutional investors with the crypto markets. Floating Point Group, a crypto brokerage firm, reported on June 12 that it has suspended trading, withdrawals, and deposits after a hack on June 11. The entire loss from the assault, according to FPG’s estimations, is between $15 and $20 million. Moreover, after identifying the security compromise, FPG reportedly locked all third-party accounts and migrated wallets, as stated in a message published on the company’s official Twitter account on June 15. Trading, deposits, and withdrawals were subsequently suspended out of “an abundance of caution.” Account separation, the company said, “limited the overall impact” of the assault. FPG is a global brokerage that connects institutional investors with the cryptocurrency markets. FPG and its customers together manage $50 billion in assets, according to the company’s website. Investigation Underway It is doubtful that this new event would increase institutional interest in the cryptocurrency area given that the crypto industry is already suffering from decreasing prices and growing hostility from regulators. Also, in December of 2022, FPG was able to get its SOC 2 Type 1 certification. After engaging in voluntary consultation with the cybersecurity organization Prescient Auditors. This clearance was awarded based on the results of an official audit of the company’s internal data controls. Which were performed to confirm the controls’ integrity. FPG stated: FPG said that it could not provide any more information about the investigation since it was still in progress with the relevant law enforcement authorities.

Voyager Digital is getting ready to restore its app and enable user withdrawals. The withdrawal period would begin between June 20 and July 5. Nearly a year after filing for Chapter 11 bankruptcy, cryptocurrency brokerage Voyager Digital is getting ready to restore its app and enable users to finally withdraw their funds. In a court filing dated June 14, Paul Hage, administrator of Voyager’s bankruptcy plan, stated that the withdrawal period would begin between June 20 and July 5. He also said that the Voyager app will be updated around June 15 to display the amount available for withdrawal. After 30 days, clients may withdraw cryptocurrency through the Voyager app or get a cash payout, both of which are part of the bankruptcy plan that was first authorized by the court on May 17. Recovering Assets Still Underway Although the first distribution permits just over 35% of customer funds to be withdrawn, Hage mentioned in the filing that bankrupt crypto hedge fund Three Arrows Capital still needs to pay Voyager $650 million, so “the primary focus will shift to recovering additional assets that can be distributed to creditors” after the initial distribution is completed. Creditors may also be able to access an additional $445 million in customer cash if and when Alameda Research’s preference claim against Voyager is resolved, which is not anticipated to occur until at least the middle of September 2023. Voyager first filed for bankruptcy on July 5. Two previous bankruptcy plan proposals were presented, but both plans were rejected. The first was supposed to go to FTX US in the United States, but when FTX filed for bankruptcy, the $1.4 billion contract fell through. Following that, Binance and the company struck a $1 billion dollar transaction that also could not go through. Recommended For You: Court Orders Extradition of Do Kwon to South Korea Post Bail Approval

OCM makes history again with generative art collectibles on Bitcoin REDMOND, Wash.–(BUSINESS WIRE)–OnChainMonkey (OCM) has announced the launch of its next NFT collection, OCM Dimensions. This significant milestone brings together art, engineering, technology, and innovation to enshrine a historic first-of-its-kind generative art collection on Bitcoin. Crafted entirely from code, OCM Dimensions showcases a groundbreaking way high-quality art can be inscribed on Bitcoin while using limited block space, a challenge that others have not overcome. These iconic designs offer a stunning view of code on each satoshi, with detailed renderings of lighting, movement, and vibrancy. These NFTs are designed specifically for Bitcoin, as they are inscribed on satoshis from January 2009 (the month Bitcoin went live). Meticulously crafted by Metagood’s world-class art and engineering team, the OCM Dimensions NFTs are 3-dimensional, interactive, and dynamic, and the inscription technology used to generate them on-chain will set the standard for generative art on Bitcoin. Crafted entirely from code, OCM Dimensions showcases a groundbreaking way high-quality art can be inscribed on Bitcoin while using limited block space, a challenge that others have not overcome. By bringing this groundbreaking collection to the Bitcoin blockchain, OnChainMonkey solidifies the platform as the undisputed home for high-value digital assets, offering groundbreaking artistic expression and true digital ownership. “Metagood’s vision for the OnChainMonkey community and the entire OCM project is to create a prosperous global nation that prioritizes financial enrichment, physical health, social connection, and purposeful impact,” said Danny Yang, co-founder and CEO of Metagood, the company behind the OnChainMonkey collection. “Our latest collection offers community members the opportunity to become early adopters of not only historic, high-quality Bitcoin NFTs, but also the most efficiently inscribed Bitcoin NFTs available today.” OCM Dimensions is one of the first 3D NFT collections on Bitcoin and demonstrates that these engaging pieces can be issued in an efficient way that does not impact the performance of the Bitcoin blockchain. Bitcoin miners and Bitcoin users will not be affected by the launch given our efficient way of inscribing. However, bitcoin HODLERs and miners will benefit from the launch of OCM Dimensions, as it secures even more high-value assets onto the increasingly valuable Bitcoin blockchain. Metagood, the creator of the OnChainMonkey collection, is a consistent leader in NFT technological innovation. Its first collection, OCM Genesis, minted the entire 10,000-strong collection on the Ethereum blockchain in a single transaction. This had never been done before and marked a milestone in NFT scalability. In February 2023, the OCM Genesis collection became the first-ever 10,000 PFP (profile picture) collection to also be inscribed on Bitcoin. In April 2023, Metagood partnered with Asprey Studio on the upcoming Asprey Bugatti Egg Collection. Metagood will be the digital asset partner inscribing digital counterparts of their luxury objets on the Bitcoin blockchain. Once again, OnChainMonkey and its partner company Metagood are revolutionizing NFTs with their groundbreaking OCM Dimensions collection, which will become the world-first 3D NFT collection to be fully inscribed on-chain on the Bitcoin network. The collection will utilize the Ordinals protocol. The first 300 OCM Dimensions will be minted directly on Bitcoin, then the remaining collection (up to 2,000) will be minted on Bitcoin via burnable Ethereum NFTs that the first OCM Genesis NFT collection can consume over time to generate its respective OCM Dimensions on Bitcoin. Hiro Wallet and Xverse are official wallet partners of the collection. OnChainMonkey will soon be announcing an amazing new collection with the generative artist, Alexis André. To learn more about the OCM Dimensions collection, click here. About OnChainMonkey Launched by the NFT company Metagood, OnChainMonkey is the first non-fungible token (NFT) profile picture collection created on-chain in a single transaction on Ethereum. Recently OnChainMonkey marked history again, becoming the first 10k PFP NFT collection inscribed on Bitcoin in a single inscription. The collection of 10,000 randomly generated NFTs is led by an experienced team, including Danny Yang, who founded Taiwan’s largest cryptocurrency exchange; Amanda Terry, who served as a digital media business development executive at Twitter and NBC; and Bill Tai, a legendary venture capitalist who was the first investor in Zoom and early investor in Canva, Dapper Labs as well as over 20 companies that have become publicly listed. The OnChainMonkey community is building businesses in Web3 and aims to “do well and do good,” creating value for token holders and promoting social good. To learn more about OnChainMonkey, visit onchainmonkey.com. About Metagood Metagood is a leader in blockchain technology and digital assets, setting a new standard for innovation in the crypto industry. In 2021, Metagood launched the first 10k on-chain profile picture NFT collection in one transaction on Ethereum. This year, the company was the first to inscribe a 10k NFT collection on Bitcoin. Metagood was recognized in Fast Company’s 2022 Best World Changing Ideas Awards for Impact Investing. Metagood strives to build a better future for Web3. Through its innovative NFT collection OnChainMonkey (OCM), Metagood has created value and contributed to important causes. Those causes included funding the successful evacuation of Sharbat Gula (known as “Afghan Girl” from the iconic 1984 National Geographic cover) and her family from Afghanistan, donations to humanitarian aid in Ukraine, and more. Metagood was founded by veterans with decades of business experience. Its chairman, Bill Tai, a legendary venture capitalist, has been at the forefront of the crypto space since 2010. Danny Yang, the CEO, founded both Maicoin, Taiwan’s largest cryptocurrency exchange, and Blockseer, a blockchain technology company providing services to customers like the FBI, US Secret Service, and the DHS. He also founded the Stanford Bitcoin Meetup in 2013. Amanda Terry, the COO, is a former business development executive at Twitter, NBC and the co-founder of ACTAI Ventures, where she serves as its managing partner. To learn more about Metagood, visit metagood.com. Contacts Press contact: [email protected]

World Challenge Game integrates Chainlink VRF for tamper-proof randomness in NFTs. Fusion of digital and physical gameplay in World Challenge Game’s hybrid experience. Chainlink VRF was chosen for secure and verifiable random number generation. In a momentous stride, World Challenge Game has seamlessly integrated Chainlink Verifiable Random Function (VRF) on the Polygon mainnet. By harnessing the prowess of this industry-leading decentralized oracle network, they have unlocked an unparalleled source of tamper-proof and auditable randomness. Consequently, a thrilling and transparent user experience unfolds, where participants possess cryptographically verifiable guarantees surrounding the NFT minting process’s inherent randomness. Fusing strategic gameplay and general knowledge trivia, the World Challenge Game offers an exceptional blend of digital and physical engagement. The game’s physical board version can be procured online or from retail outlets. Moreover, it caters to enthusiasts who relish traditional tabletop experiences. Simultaneously, a mobile app hosts the digital iteration, immersing players in riveting matches against global adversaries. To infuse the “genetics” of their inaugural NFT collection with randomness, a secure random number generator (RNG) accessible for independent scrutiny was imperative for the World Challenge Game. However, ensuring the integrity of RNG solutions for smart contracts mandates accurate security measures. Blockchain-derived RNG solutions like block hash fall prey to manipulation by miners, while off-chain alternatives from external APIs need more transparency and furnish users with definitive proof. In light of an exhaustive evaluation, World Challenge Game’s discerning eye settled upon Chainlink VRF, lauding its foundation in pioneering academic research backed by a time-tested oracle network. Crucially, the generation and on-chain verification of cryptographic proofs substantiates the integrity of each random number injected into smart contracts. CEO Bogdan Tapu Praises Chainlink VRF’s Provably Fair Randomness The mechanics of Chainlink VRF reveal a captivating process. Unbeknownst at the time of the request, block data merges ingeniously with the pre-committed private key of the oracle node, ushering forth both a random number and a cryptographic proof. Consequently, the World Challenge Game smart contract only validates random number inputs accompanied by valid cryptographic proofs, thus affirming the tamper-proof nature of the VRF process. This revolutionary implementation empowers users with automated and on-chain verifiable guarantees, instilling unwavering confidence in the fairness of the genetic randomness encapsulated within each NFT. Importantly, this bolsters trust by mitigating any suspicion of tampering, be it by the oracle, external entities, or the World Challenge Game team. Bogdan Tapu, the visionary CEO of World Challenge Game, extols the virtues of Chainlink VRF, recognizing its provision of a cryptographically secure and provable mechanism to embed tamper-proof randomness within their NFTs. This pivotal selection bolsters their adherence to the Web3 ethos, bolstering user trust in their remarkable collection. The integration of Chainlink VRF heralds a landmark moment for World Challenge Game, catapulting them to the vanguard of innovation in the hybrid board game landscape. Empowered by this state-of-the-art technology, they have unfurled a new epoch of fairness and transparency within NFT character genetics. Recommended For You: Chainlink (LINK) Price Prediction 2023 — Will LINK Hit $20 Soon?

Coinbase has entered into a global partnership with Bitkey. The crypto exchange is building the most trusted crypto products and services. Coinbase, the leading crypto exchange, has consistently made headlines within the crypto community. The exchange faces a lawsuit by the U.S. Securities and Exchange Commission. The whole crypto market has been waiting for the end of the SEC’s case against the crypto exchange. On the other hand, Coinbase has entered into a global partnership with Block’s self-custody Bitcoin wallet, Bitkey. On June 15, the exchange tweeted the announcement of its partnership with Block’s Bitkey Wallet. The partnership will incorporate Coinbase Pay’s ability to transfer existing Bitcoins (BTC) and buy or sell Bitcoin enabled by Coinbase in Bitkey. Coinbase to Expand Their Presence Across Six Continents According to the report, the international partnership spans six continents. Bitkey is the self-custody Bitcoin wallet built by Block. Moreover, that includes a mobile app, a hardware device, and a set of recovery tools. Bitkey aims to empower the next 100 million people to truly own and manage their money with Bitcoin. The Coinbase Pay platform offers a simple and secure way for users to fund their accounts with crypto within apps, wallets, or marketplaces. Moreover, users can also enjoy seamless fiat-to-crypto onramps, and businesses benefit. The new game-changing feature allows users to effortlessly move their Bitcoin from centralized exchanges to the secure Bitkey self-custody wallet. In recent times, the crypto market has witnessed a lot of development and innovation. To stay ahead, Coinbase is building the most trusted crypto products and services. Through the global partnership, the crypto exchange has taken a key step towards its goal of powering the Bitcoin economy. The global partnership is expected to increase people’s trust in the crypto exchange and strengthen Coinbase’s position in the lawsuit.

The Montenegro Basic Court twice authorized bail for Do Kwon and Han Chang-joon. The High Court judge ruled to extradite Do Kwon and Han Chang-joon to South Korea. According to those acquainted with the case, the Montenegro High Court has granted bail to Terra co-founder Do Kwon and former CFO Han Chang-joon. The High Court judge who oversaw the probe also determined that South Korean nationals who were being held for possible extradition to South Korea would stay in jail. Also, Court spokesman Marija Rakovic said that on June 15 the Montenegro High Court affirmed the decision of Judge Ivana Becic of the Montenegro Basic Court to approve bail for Terra co-founder Do Kwon and former CTO Han Chang-joon. To Remain in Custody The Montenegro Basic Court twice this month authorized bail for Do Kwon and Han Chang-joon at 400,000 Euros ($436,000), with additional restrictions including monitoring and other legal procedures. The passport forgery case and the appeal from the prosecution were sent up to the High Court of Montenegro. They were granted bail by the Montenegrin High Court so that they could provide a defense against allegations of document fabrication. The High Court judge’s ruling to extradite Do Kwon and Han Chang-joon to South Korea means that they will stay in custody. Do Kwon’s political alliance with Milojko Spajic, a former minister of finance, has been in the news since 2018. Former Prime Minister of Montenegro Dritan Abazovic said he had received a letter from Do Kwon about his connections to Europe Now party president Spajic. In 2018, the former minister of finance and his employer both made investments in the Terra project, which is where he met Do Kwon. Unfortunately, they lost everything in the Terra-LUNA crisis, “which is why we had the special satisfaction of reporting him to authorities.” Milojko Spajic is also acquainted with Vitalik Buterin, one of Ethereum’s co-founders.

The two companies have partnered to examine the recently released Ripple CBDC Platform. The third stage is all about raising awareness among national and territorial governments. The Colombian Central Bank, Banco de la Republica, and the blockchain payments startup Ripple Labs Inc have signed a strategic cooperation agreement to research the potential applications of blockchain technology in the realm of Central Bank Digital Currency (CBDC). Peersyst Technology, a specialist blockchain technology startup, and the Ministry of Information and Communications Technologies (MinTIC) have formed a collaboration. Pushing CBDC Adoption Also, according to a tweet from Peersyst, the two companies have joined forces to examine how the recently released Ripple CBDC Platform, which is built on the XRPLedger’s (XRPL) core technology, may be used to enhance use cases in the high-value payment system. As such, this pilot program would be created during MinTIC’s third round of blockchain research. Moreover, the third stage is all about raising awareness among national and territorial governments. Especially, about how blockchain technology might transform payment systems and data management. Real-world application trials that encourage participation from many participants will be used to raise awareness. In addition, Ripple’s CBDC Platform testing won’t endanger public infrastructure. ICT Minister Mauricio Lizcano stated: It will also provide a technical answer (Prototype) that will enable simulations of various high-value payment system use cases. The Colombian Central Bank and MinTIC, according to James Wallis, vice president of central bank engagements and CBDCs, are pioneering a new era of digital innovation with their forward-thinking approach. Recommended For You: Ripple CTO Claims Uniswap is Not a Decentralized Entity

BlackRock poised to enter the Bitcoin ETF market, relying on Coinbase Custody and spot market data. Collaboration between BlackRock and Coinbase paves the way for institutional access to cryptocurrencies. Uncertainty looms as BlackRock’s Bitcoin ETF plans remain undisclosed amidst regulatory challenges. BlackRock, the world’s largest asset manager, is reportedly nearing the submission of an application for a Bitcoin ETF (exchange traded fund), as per an individual familiar with the situation. The source further stated that BlackRock intends to utilize Coinbase (COIN) Custody for the ETF, while relying on the crypto exchange’s spot market data for pricing. Coinbase declined to provide any comments on the matter. BlackRock commenced Coinbase collaboration in 2022 In mid-2022, BlackRock commenced its collaboration with Coinbase to enable direct access to cryptocurrencies for institutional investors. However, it remains unclear whether the proposed ETF will be based on spot or futures contracts. BlackRock has not yet responded to requests for comment. It is worth noting that the Securities and Exchange Commission (SEC), responsible for overseeing ETFs in the United States, has so far rejected all applications for spot bitcoin ETFs, while approving several bitcoin futures ETFs for trading. As the situation surrounding the BlackRock Bitcoin ETF remains uncertain, with no official statement or confirmation from the company, it is crucial to consider the regulatory landscape and the SEC’s previous stance on spot bitcoin ETF applications. The digital asset industry in the United States currently faces an uncertain regulatory environment. Recently, the US Securities and Exchange Commission (SEC) took enforcement action against two of the country’s largest cryptocurrency exchanges. Despite these developments, a major investment firm remains undeterred and continues its involvement in the industry.

The European Central Bank (ECB) cited concerns about prolonged high inflation. Beginning on June 21, 2023, these prices new measures will apply. On Thursday, the European Central Bank (ECB) announced a 25 basis point increase to its benchmark interest rate, which is one of three main rates set by the ECB. In light of the decision made by the bank’s Governing Council, the interest rates on the bank’s primary refinancing operations, marginal lending facility, and deposit facility will all be raised to 4.00%, 4.25%, and 3.50%, respectively. Beginning on June 21, 2023, these prices will apply. This follows a downturn in the cryptocurrency market in response to the Federal Reserve’s comments on the possibility of a rate hike later in 2023. Unlike ECB, the Fed decided to pause the interest rate hike for now. Fighting Prolonged Inflation The European Central Bank (ECB) cited concerns about prolonged high inflation as the rationale for its decision to raise interest rates. Bitcoin’s price increased on Thursday after a 4.19 percent drop in the last 24 hours in response to the European Central Bank’s rate rise. Although the bears were able to take control yet again. Positive reactions in the cryptocurrency market followed a similar move by the European Central Bank at its meeting in May of 2023. The European Central Bank’s Governing Council expects inflation to decline over the course of the next two years. In a statement, the ECB Council said: In order to attain its medium-term goal of reducing inflation to 2%, the ECB has said that it would adopt a sufficiently restrictive posture going ahead.