Gemini and Genesis have requested the dismissal of the Securities and Exchange Commission’s (SEC) lawsuit regarding their Earn product. The SEC had alleged that the contract setting up the Earn program was a security, but Gemini’s lawyer, Jack Baughman, has argued that the contract was never sold and therefore does not constitute a security. Earn
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Microsoft President Brad Smith has called for the government to take a more active role in controlling the development of artificial intelligence (AI). Speaking at a panel discussion in Washington, Smith stated that AI may be the most consequential technological change in our lifetime and that the government needs to move faster to stay on
Heimdall, a provider of business tokenization solutions, has partnered with OPNX to launch a bankruptcy tokenization product. This product offers an alternative to the lengthy bankruptcy administration process that can take several years to resolve. It enables users with funds frozen on defunct platforms to access liquidity. Celsius, a cryptocurrency platform, was the first to
On May 26, Bitcoin (BTC) experienced a sudden increase in value when US macroeconomic data was released that showed a rise in Personal Consumption Expenditures (PCE) since October 2022. The pairing of BTC/USD climbed to nearly $27,000 on Bitstamp as a result. This reading was expected to be a challenge for risk assets, including cryptocurrency,
The European Union’s financial markets regulator, the European Securities and Markets Authority (ESMA), has released an investor protection statement warning investment firms to ensure clients are aware of the regulatory status of the products they offer, including cryptocurrency. ESMA is concerned about investment firms that offer unregulated products and services in the EU. Regulatory Status
Nike’s web3 platform, .SWOOSH, has reportedly generated over $1 million in sales from its first sneaker-themed non-fungible token (NFT) collection. The success of the sales suggests that the demand for well-designed shoes in the metaverse is high, despite some initial technical difficulties and delays. The .SWOOSH platform was launched in November 2022, with the aim
Floki Inu, an old generation meme coin, has been overshadowed by the recent meme coin narrative. Despite a recent partnership with DWF Labs, the cryptocurrency only experienced a brief 5% price increase. This lackluster performance has raised concerns about Floki Inu’s long-term viability as it suffered a 3.8% drop over the past week. As a
US Senator Cynthia Lummis has criticized President Biden’s proposed tax on cryptocurrency miners, calling it a “blatant attempt by the administration to pick winners and losers.” The Wyoming Republican accused the administration of attempting to tax the digital asset industry out of existence. She also spoke out against the proposal at the Bitcoin 2023 conference
Binance, one of the world’s largest cryptocurrency exchanges, and Gulf Innova, a wholly-owned subsidiary of Gulf Energy, have been granted a digital asset operator license by Thailand’s Ministry of Finance. The two firms have been working together since 2022 to launch a compliant-first exchange in Thailand. The license paves the way for Gulf Binance to
Crypto trading can be a daunting task, especially for beginners, considering the complexity of the crypto market. To make it easier for users, Launchpad XYZ has come up with an all-in-one platform that aims to streamline the fragmented web3 space and simplify the journey into the digital future. The platform curates the best projects in