The Post "Court Dismisses Key SEC Claims Against Binance, Impacting Crypto Regulation Landscape" first appeared on 36crypto.com.
On July 2, 2024, the United States District Court of Colombia made a significant decision. Judge Amy Berman Jackson dismissed three key SEC accusations against Binance, the world's largest bitcoin exchange by volume. This ruling marks a fundamental shift in the ongoing case against the regulatory watchdog.
Dismissal of Critical SEC Claims and Broader Implications in the Future
The court refuted multiple critical arguments advanced by the SEC, including the position that tokens such as BNB and the fiat-collateralized Binance USD are securities. Another legal theory that the court rejected was the SEC's argument that trading BNB tokens on the secondary markets on crypto exchanges was the sale of securities. Similarly to the above statements, such a decision limited the enforcement powers of the #SEC over these activities. Nonetheless, some claims from the SEC remain pending and active to date despite the high barriers in proving them valid.
Such a global assertion was legally flawed because the SEC failed to provide evidence that all token sales constituted investment contracts. To reiterate, the court underscored that the focus must be made not on tokens or the status of those conducting the transactions but on the circumstances of the particular transactions. This approach aligns with prior Supreme Court decisions to address tokens as suggesting that the existence of a token turns it into a security is an inadequate concept.
The court held that the replenishment of the reserves should not have been resolved anyway since the SEC did not provide sufficient facts that secondary market sales of BNB tokens were performed to realize gains or profits. The expectation of profit is another component that must be met if something qualifies for security under the framework of the Howey Test. This ruling restricts the discretion of the SEC in imposing requirements on who may participate in the secondary market through exchange operations.
The assertion that Binance's BUSD is an investment contract was dismissed since the court found no evidence to suggest that BUSD was marketed with an expectation of profit due to Binance's efforts. This highlights the inconsistencies among various U.S. regulatory bodies regarding stablecoins, illustrating the complexities and uncertainties in the crypto regulation landscape.
Although some allegations were struck off the list, specific shifts like the SEC arguing that BNB was sold as securities directly could proceed. Nevertheless, the SEC will find it difficult to prove these allegations, mainly because the authorities have to provide evidence that investors purchased tokens intending to invest.
This case creates an important precedent that defines the exact limitations of the SEC's powers regarding the crypto industry. The judgment also emphasizes that there should be logical and rational formulation of laws, not episodic and fragmented, which causes confusion and chaos. Reiteratively, Binance is ready to counter the SEC regulation and will fight for more fair and reasonable regulation for the positive growth of the crypto market.
Conclusion
The decision by Judge Amy Berman Jackson is a significant move in the continuing regulatory disputes in the cryptocurrency business. This decision represents a need for more structured and rational methods of regulation. As the case progresses, it highlights the ongoing friction and difficulties between legislative objectives and the constantly changing digital asset market. This decision represents a step towards more transparent regulatory frameworks promoting innovation and market integrity.

The post "Chainlink and Cardano Rank Among Top 5 Most Actively Developed Cryptocurrencies" first appeared on 36crypto.com News.
Chainlink (LINK) and #Cardano (ADA) have climbed the ranks to become two of the top five most actively developed cryptocurrencies. This rise in development is a fundamental parameter that can increase the value of digital currencies. The most recent data shows that Chainlink has risen to the second position in development activity while it is outrun only by Hedera (HBAR). This ranking methodology entails adding all non-redundant project activities and dividing this total by activities that have occurred on average over the past month.
The updated list highlights the dynamic changes within the cryptocurrency development landscape: Hedera (HBAR), Chainlink (LINK), Optimism (OP), Internet Computer (ICP), Cardano (ADA), Status (SNT), Cosmos (ATOM), zkSync (ZK), Starknet (STRK) and Aptos (APT). Chainlink did not go straight to the first place, but it and Cardano are among the most steadily developed cryptocurrencies.
Development Activity Boosts Market Performance
Chainlink currently sits at $14 and has risen by 5.14% within the last week. Also, the amount of trading has grown by 40%, showing an increased number of traders among the members. The stock is close to the exponential moving average of 50 days at $15.27, where 100 and 200 EMAs are above the price action. If Chainlink is going to move up these resistance levels, there is a possibility that it is going to initiate an upward trend.
Cardano's price, at $0.40, gradually increased by approximately 3.4 % within the past three days. Based on the chart of the Cardano course below, the following can be concluded: Cardano has received significant opposition at $0.42 and the 50 EMA, which may make it easier for a trader to enter the trade. To overcome this level would mean that the following targets would be at the 100 and 200 EMAs. The constant investment focus by Cardano is particularly helpful in forging investors' confidence and generating market attention.
Conclusion
#Chainlink and Cardano's positions among the top five most actively developed cryptocurrencies highlight their ongoing dedication to innovation and growth. As development activity continues to play a pivotal role in boosting the value of digital assets, both projects are well-positioned to achieve further market success.

The post "Shiba Inu Community Awaits Potential ETF Following Coinbase Futures Filing" first appeared on 36crypto.com News.
The Shiba Inu (SHIB) community is buzzing with excitement after a significant development that could lead to the creation of the #ShibaInu Exchange-Traded Fund (ETF). The trading firm Coinbase, which mainly deals with future contracts, has applied for contracts related to Shiba Inu and four other altcoins. It represents a significant development in the changing dynamic of the financial instruments linked with cryptocurrencies.
Last Friday, Coinbase Derivatives filed the paperwork for these futures contracts with the Commodity Futures Trading Commission, or CFTC for short. If this launches, then Shiba Inu will enter the first-ever futures trading in the U. S. as a CFTC-margin futures contract. This is planned to be launched on July 15, provided before the CFTC grant and approval.
Effects of trading futures contracts for Shiba Inu
A man who describes himself as a social media admin for Shiba Inu with username RagnarShiba noted that Coinbase's move to report to the CFTC was important. This step is considered preparatory towards possibly creating an ETF on SHIB. An ETF based on such a fund would give investors another means to interact directly with the widely trending meme currency, thus diversifying the investing pool. The ETF would enable bystanders to invest in the price of SHIB without buying and physically holding cryptocurrencies.
Several Shiba Inu followers are now keenly observing what the CFTC will be doing regarding Coinbase filing. Some commonly used forums that have generated many discussions and speculations include social media forums, and the feel of the community is apparent. Everyone interested in blockchain technology, including investors, is waiting for the evolution of this development.
At the time of writing, Shiba Inu's price experienced a slight dip, down 1.67% in the last 24 hours to $0.00001708. However, there is hope for the further creation of an ETF for Shiba Inu that would alter its path in one way or another and boost investor activity.
Conclusion
The prospect of a Shiba Inu ETF is exciting for the community, marking a significant milestone and a potential catalyst for broader investment. Furthermore, with the situation evolving, everyone is waiting for the CFTC's decision on Coinbase's filing. If approved, the Shiba Inu ETF can provide a more accessible way for investors to invest in Shiba Inu so it can strengthen its place in the cryptocurrency market.

The post "$70 Million in Ethereum (ETH) Transferred to Major Exchange" first appeared on 36crypto.com News.
In a recent development, Whale Alert, the most advanced blockchain tracker and analytics system, reported that #Ethereum (ETH) whales are igniting a potential sell-off today by transferring roughly $70 million in cryptocurrency to Binance, one of the world's largest exchanges. This movement has sparked concerns among ETH traders about a possible market downturn.
Large Transfers Indicate Potential Sell-Off, Impacting Broader Market
Whale Alert, a prominent blockchain tracking service, reported two significant transactions early this morning. The first tweet revealed that 9,999 ETH, worth around $34.3 million, were transferred from an unknown wallet to Binance. The blockchain watcher, reported two huge transaction proofs this morning. Whale Alert reappeared on the site shortly after, announcing the transfer of another 7,413 ETH, worth about $25.4 million, from an unknown wallet to Binance.
Shortly after, Whale Alert tweeted again, revealing that another 7,413 ETH, worth about $25.4 million, had been moved from an unknown wallet to Binance. These transactions total 17,412 ETH, which is equivalent to over $69.86 million at current market values. Such a large transaction may indicate an impending selling binge since whales, or large holders of digital coins, load their digital currencies onto an exchange platform to sell them.
These massive transfers have indeed been in the news and have already elicited a tangible impact on the market system. Since the alerts, the price of Ethereum has raised its volatility, and traders are particularly observing Binance for any significant dumping signal. In addition, such transactions hurt pricing because these whales who invest in Ether may sell back into the market, putting downward pressure on the price of Ether and, consequently, other related coins in the market. As observed in prior week periods when large amounts of cryptocurrency are sold off, it can trigger a domino effect, causing other traders to panic and sell their holdings, further driving down the price.
At the time of writing, Ethereum's price is $3,447.60, decreasing by 0.30% in the last 24 hours. However, the price of ETH has reduced by 8.94% in the previous 30 days due to the ongoing bearish phase in the larger market. However, the effect of this process on the ETH price is yet to be observed, and the fact that such a significant amount of #ETH is migrated to the exchange cannot be regarded as a mere coincidence.
Conclusion
Ethereum whales moving around $69.86 million in ETH to Binance sparks a sell-off fear. This kind of activity directly affected Ethereum's price in the past and its fluctuations. Traders and investors are urged to be vigilant, though the situation might not directly affect the broader market.
#MiCA #US_Inflation_Easing_Alert #ETH_ETFs_Approval_Predictions

The post "Binance Extends Monitoring Tag to These 11 Tokens, Risk of Delisting Ahead?" first appeared on 36crypto.com News.
Binance, the largest #crypto exchange by trade volume, has begun the new month with an announcement of an extension of monitoring tags to 11 tokens. These affected tokens face the risk of delisting from the platform if certain guidelines are not met. This announcement has sent ripples through the crypto community as investors reshuffle their portfolios to avoid potential losses.
Binance noted that after an extensive review, it has decided to extend the monitoring tag to Convex Finance (CVX), Sun (SUN), PowerPool (CVP), and others while removing two tokens Enzyme (MLN) and Horizon (ZEN) from the monitoring tag list.
Binance Adds Monitoring Tag to Highly Volatile Assets
In an announcement dated July 1, crypto exchange giant, Binance revealed a total of 11 tokens that it will attach a monitoring tag to. These tokens include Balancer (BAL), Cortex (CTXC), PowerPool (CVP), Convex Finance (CVX), Dock (DOCK), Kava Lend (HARD), IRISnet (IRIS), MovieBloc (MBL), Polkastarter (POLS), Status (SNT), Sun (SUN).
Binance disclosed that the affected assets demonstrate higher volatility and risks compared to other listed tokens. It added that the tokens are closely watched with reviews and audits conducted regularly. Additionally, Binance warns that these tokens face the possibility of delisting from the platform having failed to meet its listing criteria.
Meanwhile, two tokens including Enzyme (MLN) and Horizon (ZEN) have been dropped from the monitoring tag list. The removal of these two tokens from the list underscores their stability after passing a reassessment.
Binance informed users that they will have to pass a quiz slated every 90 days on its Spot and Margin trading platforms before they can get access to the tokens with the tags. Moreover, #Binance stresses that the quizzes are strategic to make sure that users are aware of the risk involved before trading the assets. On the affected tokens' corresponding Spot and Margin trading pages, a warning banner will be placed to remind users of potential risks.
Possibility of Tag Removal
Binance informed that a periodic project review will be conducted by the exchange over time, to determine if each tagged token has met the laid down criteria and if the monitoring tag should be removed. Some criteria that are considered include, the commitment of the team to the project, trading volume and liquidity, stability and safety of the network, level of public communication, level and quality of development activity, and others.
Ultimately, Binance noted that other services relating to the mentioned tokens will still be available and will not be affected by the update. Investors are closely watching the price reaction of these assets, as announcements like these from major crypto exchanges tend to increase the volatility of the projects.
#MiCA #MtGoxJulyRepayments #US_Inflation_Easing_Alert

The post "Sony Acquires Amber Japan, Marking Entry into the Crypto Industry" first appeared on 36crypto.com News.
Japanese tech giant Sony has quietly expanded its portfolio by acquiring the #cryptocurrency exchange Amber Japan. This strategic move positions Sony, a $100 billion conglomerate known for its presence in music, games, and cameras, firmly within the burgeoning crypto industry.
Amber Japan's Evolution and the Financial Barriers it Has Encountered
Amber Japan entered the crypto market when Singapore-based market maker Amber acquired Japan's regulated crypto trading platform DeCurret in early 2022. After this acquisition, the platform is renamed Amber Japan. However, in 2022, the failure of the #FTX exchange affected Amber Group negatively and made it financially unstable.
Thus, there were reports that the company had to resort to a debt-to-equity transaction with Fenbushi Capital to survive. Some of the most recognized names invested in the Amber Group include Pantera Capital, Temasek, Tiger Global, Sequoia China, and Coinbase. The Chinese crypto reporter Colin Wu pointed out that Sony's buying up of Amber Japan is a planned move into the crypto exchange sector. Thus, having a leading market position, Sony intends to influence and define the further development of Amber Japan.
Japan's Shifting Crypto Landscape
The Japanese crypto market has been changing dynamically due to the devaluation of the Japanese yen and the recent monetary intentions of the Bank of Japan. Last week, the yen fell to the lowest levels, forcing many investors to incorporate a bitcoin plan. Continuing from Microstrategy, some Japanese firms, such as Metaplanet, have started including Bitcoin in their treasuries. Metaplanet last month offered to buy $7 million Bitcoins through a bond sale. Moreover, Metaplanet is adding a cryptocurrency focus by launching its new subsidiary in the British Virgin Islands. This general step forms part of efforts to improve its approach to investing in Bitcoin and the size of its Bitcoin portfolio, consistent with funding objectives.
Conclusion
Sony's acquisition of Amber Japan highlights its strategic entry into the crypto industry amid Japan's rapidly changing crypto landscape. With significant financial backing and a clear strategy, Sony aims to leverage its market strength to influence the future trajectory of Amber Japan and the broader crypto market in Japan.
#MiCA #ETH_ETFs_Approval_Predictions

The post "Bitcoin hits a new high number of Wholecoiner addresses, with more than one million" first appeared on 36crypto.com News.
Bitcoin's new metric in the cryptocurrency market observed that the base unit of bitcoin address holding one whole BTC is more than one million for the first time. Maximalist data from IntoTheBlock shows that 1,010,777 addresses can be termed "wholecoiners," evidencing the growth of the number of Bitcoin investors.
Though there is no fixed value of holding a whole coin for a wholecoiner, it is a popular term used in bitcoin forums to denote an entity that owns one or more bitcoins. This is a sign of the expanding popularity of bitcoins and budding confidence in it as an appropriate investment tool. Furthermore, this trend indicates the increased necessity of Bitcoin as a reliable stored-value instrument in uncertain market situations.
The wholecoiner addresses increase, has been depicted in IntoTheBlock. This is not a one-time rise but a continuously ascending line. As Bitcoin progresses in relevancy and age, the count of addresses containing at least one BTC has been consistently going up. This continuance of growth implies that people are inclined towards Bitcoin and embracing it more as a store of high value and long-term gains as much as investors take risks for wealth creation.
Significance of Wholecoiner Achievement Amid Bitcoin's Supply Limit and Current Market Dynamics
Having more than a million wholecoiner addresses can be considered important, given that the world's leading crypto – Bitcoin- has a supply limit of 21 million. This fixed limit increases the worth of at least one Bitcoin since its global demand is steadily rising. The scarcity of #Bitcoin is another critical component in the continuous appeal to invest wholecoiners because each new one is a larger piece of the pie.
However, address accumulation continues to rise, though it is down around 17% from its all-time high near $74,000 established in mid-March. The drop came after a social buzz on the possible approval of ETFs linked to cryptocurrencies in the United States. Bitcoin is on the rise, slightly valued at $61,592, up by only 0.04% within the last day.
Such a recent market behavior also coincides with new expectations in reducing the interest rate in the USA, which also affected investor perceptions of risky instruments, including cryptocurrencies. While investors battle in such an unpredictable global economy, the rising of the wholecoiner addresses signals that Bitcoin remains attractive as an instrument to hedge the regular stock market swings.
This is quite significant for Bitcoin and its people, as it demonstrates not only incremental growth in terms of Bitcoin but a rather consistent movement towards the expansion of institutions and ordinary people interested in this asset. While a wholecoiner status is relatively less critical at present due to the volatility in the market and emerging structures of digital money, the continuous changes in the scenario are going to emphasize how important or how necessary it is to turn into a wholecoiner from an altcoin trader in the future.
#VanEck_SOL_ETFS #US_Inflation_Easing_Alert #ETH_ETFs_Approval_Predictions

The post "SEC Files Lawsuit Against Consensys, Citing Unregistered Security Operations" first appeared on 36crypto.com News.
A new legal battle has erupted in the #Ethereum space involving Consensys, one of the biggest developers for Ethereum in the United States.  This new legal case emerged barely a week after the SEC wrapped up its investigation of Ethereum 2.0, first of all, seemed to be viewed as a triumph for blockchain enthusiasts.
These concerns include serious allegations of investor protections the SEC alleges Consensys neglected to follow. The agency claims that Consensys should have registered with the agency as a broker but never did, leaving many of its investors with minimal protection. This action demonstrates that the SEC stays committed to maintaining compliance within a still-growing crypto industry sector.
Core Allegations and Compliance Challenges in the SEC's Case Against Consensys
At the heart of the allegations, the SEC points to specific activities involving the Lido and Rocket Pool staking programs. The SEC reasoned that these programs constitute securities since people entrust their tokens to a venture to make their profit. As the SEC expounds, Consensys, via MetaMask, facilitates the sale of these staking programs and services.
Not only does it make purchasing and selling easier and faster, but also the broker gives an opinion on which program may give better results. Furthermore, the SEC's scrutiny extends beyond Consensys to include other tokens such as #Polygon (MATIC) and Chiliz (CHZ), which it also labels as unregistered securities. This classification could have broader implications for digital asset market dynamics and regulatory landscape.
The wider implications of this legal case could have a major impact on the relationship between software creators, online platform operators, and U.S. investors. The laws used here might shape legal practices within the whole digital asset sector, as other firms operating in the space would likely consider how they could adopt the practices to achieve compliance.
Consensys founder Joseph Lubin has responded by stressing that the battle continues in an attempt to create the right approach for regulating blockchain and cryptocurrency. Lubin's words echo a sentiment that many crypto community members experience – a sentiment of constant conflict with such organizations as the SEC.
Based on the current speculation in the marketplace, Consensys and Lubin are confident they can tackle such complications in the future despite current issues in regulating cryptocurrencies.
Regardless of its presumable outcome, this legal process will undeniably attract the interest of all sorts of participants in cryptocurrencies and blocks. The result can not only define Consensys's further activity but also affect the regulation of crypto assets in general. This case is an excellent example of how innovation in the digital asset sector and relevant regulatory measures that aim to safeguard customers are intertwined.
#US_Inflation_Easing_Alert #VanEck_SOL_ETFS #IntroToCopytrading

The post "Michael Saylor is Advocating for Bitcoin during Economic Volatility" first appeared on 36crypto.com News.
Whereas the economy is unstable, MicroStrategy's cofounder and chairman Michael Saylor has reassured the world that Bitcoin is the future amidst uncertainties. With interest rates sending mixed signals and potential cuts on the horizon, Saylor's stance is timely and bold. Recently, he said, "The cure for economic ills is the orange pill," and he calls Bitcoin a cure for the unknown future. This is about the 'red pill' from the Matrix movie, now as a means of getting to the deeper truth about economics, which Bitcoin represents.
Bitcoin's Current Market Dynamics and Market Watchers' Projections
Today, #bitcoin☀️ is at a turning point, reaching $62,000 after falling below $ 60,000 for several hours. It has been in a wide lateral movement, thus suggesting that it has been trading within a consolidation phase where most buying comes around the 56,500 support level while most selling is at the 73,777 resistance level.
Furthermore, the short-term task of Bitcoin supporters is to keep the currency above the critical level of $56,000. Market experts regard active buying in the $60,000-$65,500 area in the following days as a way to prevent a fall to $50,000. However, a breakdown above the $64,800 level will partially eliminate the bearish pressure and open the way for a further $70,000.
While Michael Saylor has come out strongly in defense of Bitcoin, this has alerted market players and investors. As economic indicators continue to present a complex picture, Bitcoin is closely scrutinized for signs of sustained stability or volatility.
These developments are closely watched by investors and analysts since the cryptomarkets, as a rule, do not move up easily out of trading ranges. While the debate on interest rate fluctuations continues, cryptocurrencies' ability to manage economic risks has gained attention amongst financial gurus.
Michael Saylor's unwavering support for Bitcoin underscores a significant sentiment in the crypto community: Bitcoin offers stability and potential growth amidst financial uncertainty. As economic debates persist, the cryptocurrency's performance could provide critical insights into the broader financial landscape, influencing future monetary policies and investment strategies.

#US_Inflation_Easing_Alert #VanEck_SOL_ETFS

The post "John Bollinger Expects Bitcoin to Continue to Trade in a Range Following the Pullback Attempt" first appeared on 36crypto.com News.
In a recent update, cryptocurrency market trader John Bollinger shared a message on the X social media platform that Bitcoin is in a consolidation phase. The cryptocurrency chart shows that the recent movement failed to demonstrate the expected acceleration even though the setup was favorable, as Bollinger mentioned.
Bollinger examines Bitcoin's market movements and trading implications.
John Bollinger, who popularized the Bollinger Bands trading tool, reacted to Bitcoin's performance after what seemed to have been a critical reversal signal. On June 25, he pointed at a lovely two-bar reversal at the Bollinger Bands' lower end, which typically signals the forthcoming rally. Such a pattern was traditionally one of the most preferred indicators by Bollinger, which he called his 'bread and butter' indicators as they were rock steady in pointing the market's direction.
However, this formation did not bring the expected change to the upward movement of #Bitcoin as was predicted. Earlier today, the benchmark digital currency revisited the $62,000 territory but lost the ground equally quickly, illustrating the nature of the environment.

Source: John Bollinger/X
The two-bar reversal that Bollinger has described consists of two bars of measurable trading that go beyond the present average true range or ATR, meaning a measure of volatility. For the reversal to have some chance of being effective, the first bar needs to close outside the 'Upper or Lower Bollinger Band' the next bar then goes below or above the same respective Bollinger Band. This structure is most effective for counter-trend arrangements since this provides the trader with a perfect opportunity to participate in the market.
Nevertheless, as it was considered previously, this week was somewhat more successful, and the price of Bitcoin has been fluctuating near $60,181, according to data from CoinGecko. The insignificance of following through the higher trajectory after the simple two-bar reversal indicates that the investor community is more prudently involved, probably in response to economic signals or concerns with market liquidity.
The scenario outlined by Bollinger points to a more subdued forecast for Bitcoin in the near term. It might be helpful for traders as it gives ground for expectation in a market that is often keen on steep fluctuations and speculative mania. Market participants will continue looking for new indicators indicating a change in the Bitcoin range.
In conclusion, the technical trend showed the possibility of a bullish run in Bitcoin, but the actual market signals posed the need to revisit it. John Bollinger's words can be taken as a navigator for investors when trading cryptocurrencies, especially highlighting that one needs to stay alert when trading. Once again, it will be interesting to observe the creation of such market scenarios by the investors and analysts all expecting to calculate the shift in the price of Bitcoin.
#MicroStrategyBTC #US_Inflation_Easing_Alert #VanEck_SOL_ETFS

The post "Binance Adjusts SHIB Trading Options Amid Market Dynamics: Details" first appeared on 36crypto.com News.
In a recent clarification to the Shiba Inu community, LucieSHIB, the marketing executive for the #ShibaInu (SHIB) token, addressed concerns raised by an update from the Binance exchange. The actions of Binance that announced it would delist specific trading pairs, such as the SHIB/TUSD, caused investors several goosebumps. This decision is the regular evaluation of the pairs to see how trading can be enhanced by dropping the less used pairs.
Additionally, LucieSHIB pointed out that this adjustment refers to the overall listing of the Shiba Inu token on the Binance platform. Shiba Inu is still among the cryptocurrencies Binance offers for trading, as other pairs, such as SHIB/USDT and SHIB/USDC, observe heavy trading activity. This action coordinates with the measures taken by Binance to optimize the trading experience and make trading safe for customers.
Shiba Inu Community Praised for Vigilance
Fortunately, the update arrived at the right time because volatility within the Shiba Inu ecosystem is high and frequently results in misguided information. LucieSHIB, on her part, used this opportunity to alert the community that trickery articles sometimes appear, and she urged the community to exercise caution. Proactive communication seeks to reduce cases of fraud that are common in the cryptocurrency markets, more so in volatile times. 
Binance has remained one of the most significant crypto exchanges worldwide, and such moves go a long way in ensuring that its trading market is healthy. Some of the other duos that were seen out from the platform include METIS/FDUSD LINK/TUSD and BLUR/FDUSD, as well as the SHIB/TUSD combination.
The clarification from LucieSHIB has been well-received by the Shiba Inu community, fostering a better understanding of Binance’s operational decisions. This incident underscores the importance of clear and direct communication from project leaders to ensure that investors are well-informed and not swayed by unfounded rumors. As the crypto landscape evolves, such clarity will be essential in maintaining investor confidence and market stability.
#shiba⚡ #MtGoxJulyRepayments

The post "Circle Burns 150 Million USDC Tokens in Significant Blockchain Transaction" first appeared on 36crypto.com News.
Circle, the issuer of USD Coin (USDC), has recently burned 150 million #USDC✅ tokens, equivalent to around $150 million. Whale Alert, a blockchain alert service, described the transaction on Ethereum. Circle switched the USDC to a null address, which caused a buzz in the community since it was impossible to access it.
This significant burning event is part of a broader trend observed over recent months. On Monday, Circle incinerated over $61.3 million worth of USDC tokens. Blockchain records indicate that the null address used by Circle for these burns often receives small-value inbound transfers, with some transactions recorded just minutes before.
Circle $1.061 Billion USDC Token Burn by May's End
Minting and burning USDC can also be described using the information found on Circle’s official site. Whenever the business deposits the USD into its Circle Account, Circle sends the equivalent amount of USDC to the business account. This process is known as minting, making the initial circulation of USDC higher than designed. On the other hand, when a business intends to sell a particular amount of USDC for USD, it will transfer USDC to its Circle Mint account and request for USD conversion. This process is called burning, which can be understood as the disposal of USDC.
The recent $150 million transaction reflects a business entity redeeming significant stablecoins from Circle. Whale Alert tracked large-value USDC redemptions totaling over $371 million this month. By the end of May, Circle had also burned over $1.061 billion in USDC tokens. One of the most notable transactions occurred on March 14, 2023, when Circle destroyed $2.2 billion USDC tokens daily.
Circle recently burned 150 million USDC tokens, a relatively significant transaction within the context of cryptocurrencies. This points to constant action even when there is no large-scale redemption of USDC. Given such priorities and as the blockchain community intensifies the monitoring of these transactions, such massive burns’ rationales are something that causes interest and concern.

#MtGoxJulyRepayments #CryptoPCEWatch

The post "Ripple CEO Brad Garlinghouse Criticizes SEC Chair Over Comments on Crypto Executives" first appeared on 36crypto.com News.
#Ripple💰 CEO Brad Garlinghouse recently criticized US Securities and Exchange Commission (SEC) Chair Gary Gensler's comments regarding cryptocurrency leaders fearing jail time. Gensler stated that several prominent individuals in the Bitcoin industry are either in jail, soon to be imprisoned, or awaiting extradition. Garlinghouse claimed that Gensler ignored the FTX collapse and accused him of having a solid relationship with FTX founder Sam Bankman-Fried.
Gensler has already received criticism for his connections to Bankman-Fried. Last year, US Representative Patrick McHenry, chairman of the House Financial Services Committee, brought up the subject. Bankman-Fried was sentenced to 25 years in federal prison in March for his role in various fraudulent enterprises. The collapse of the FTX exchange affected hundreds of thousands of customers, leading to widespread criticism of the SEC for not acting sooner.
Ripple CEO's Response to Regulatory Failures
Following the #FTX collapse, Garlinghouse emphasized that authorities should discourage "horrible behavior" to make carrying out scams like FTX more challenging. He chastised the SEC for its slow response, which allowed the calamity to occur. Garlinghouse stated that regulators safeguard the public and preserve market integrity.
In a recent social media post, Garlinghouse commented on Binance's deal with the Department of Justice. He emphasized that the SEC was not involved in the remark, questioning the agency's effectiveness. Garlinghouse's statements highlight his concerns about the SEC's ability to control the cryptocurrency business effectively.
Garlinghouse's criticism of Gensler and the SEC reflects a broader concern among bitcoin industry participants about regulatory oversight. The Ripple CEO's words highlight the need for more proactive and effective regulation to prevent fraud and protect customers. As the cryptocurrency market evolves, regulators like the SEC will play an increasingly crucial role in ensuring a fair and transparent environment for all participants.

#CryptoPCEWatch #MtGoxJulyRepayments #CryptoTradingGuide

The post "Dogecoin's 2024 Performance and Potential Ahead" first appeared on 36crypto.com News.
#Dogecoin (DOGE), the original meme cryptocurrency, has performed consistently but uneventfully in 2024, with a gradual fall and little volatility. This tendency has led many analysts to question the coin's potential for a significant price increase in the foreseeable future. DOGE has primarily trended downward or sideways this year, failing to demonstrate the spectacular growth observed in prior years. Historical data shows that Dogecoin saw tremendous price surges, including gains of more than 30,000% and 6,000% from previous lows.
Dogecoin Faces Correction Amidst Optimistic Long-term Outlook
Dogecoin is repeating prior trends after reaching an all-time high. Typically, after a Bitcoin halving event, DOGE takes eight to nine months to begin a significant rise. With the most recent Bitcoin halving only two months ago, analysts believe that a meaningful breakthrough for Dogecoin may not occur until late 2024 or early 2025.
Despite the low market sentiment, there are signs that DOGE may rise. Analysts believe the present bullish trend may meet corrective pressures, perhaps retracing DOGE's price to the 8-10 cent region. Such retracements have typically been followed by recovery periods and subsequent price rises. Furthermore, Dogecoin's historical association with broader meme currency market moves fuels optimism about its future possibilities. DOGE has historically surged with fresh interest in meme coins, implying that a rise in meme popularity could lead to renewed investor interest and potential price spikes.
While Dogecoin's performance in 2024 has been marked by steadiness and a lack of enthusiasm, market experts and investors remain optimistic about a possible comeback. As the cryptocurrency market changes and external variables influence investor mood, DOGE's future trajectory will be actively watched for signs of fresh bullish momentum.
#CryptoPCEWatch #MtGoxJulyRepayments

The post "Solana Introduces ZK Compression to Boost Scalability" first appeared on 36crypto.com News.
Solana is now positioning itself to change the face of blockchain by implementing Zero-Knowledge (ZK) proofs on top of layer one (L1) blockchain. Also known as Layer 2 Scaling Solutions, this newer approach can boost scalability efficiency by up to 10,000 times and diminish the costs of on-chain operations. This approach allows #Solana to address one of the most pressing problems in the blockchain industry right now, namely the on-chain state compression problem.
Among them, the on-chain state management's lack of extensibility results in imposing some of the traditional constraints on platforms such as Solana. However, the numerous costs incurred in maintaining and evolving the on-chain state have been challenges to extending applications SCs coherently. Solana's use of ZK compression on L1 minimizes these challenges because the computation occurs on the main chain. The scaling of applications makes this move helpful to developers in extending a strong foundation for an application that shouldn't require another scaling service.
Solana Revolutionizes with ZK Compression Paradigm
It is essential to distinguish that using the ZK compression paradigm does not only lie in computational benefits. Minimizing the on-chain state means that Solana opens the door for broader adaptation of those solutions and continuous innovation in its ecosystem. That means developers can now unlock a whole range of prospects, as they may tackle complicated applications and use Solana's improved scalability at a much lower cost. For instance, the cost of airdrops could drop from $260,000 to just $50, transforming blockchain economics and making it more accessible for both developers and users.
With the integration of Quantitative ZK compression, scaling can be seen as the most rapid advancement on the Solana blockchain. It solves their issues, like cost and effectiveness, which have made the decentralized applications challenging to implement. Such activities of Solana depict increased confidence in making blockchain suitable for different purposes.
In the future, Solana, for instance, will hint at some aspects of its adoption of this new form of technology. However, this has been fostered by a community of trusted developers, and features such as Firedancer and async execution are still being developed. It is worth noting that Solana embarked on trying to make their network even more scalable and efficient. Besides, this strategic decision enhances Solana's competitive edge and cements the firm's commanding position within the blockchain market.
Blockchain work caters to a promising advancement in the building of blockchain framework
In this regard, the organic integration of ZK compression in Solana's L1 setting can be labeled as one of the most significant breakthroughs for blockchain scalability. This way, Solana ensures the density of on-chain data and helps developers make DApps more effective by cutting expenses. Thus, in the development of the ecosystem, Solana shows the density and inventiveness to build the future of blockchain.
These goals will enable Solana to expand beyond its current niche and become the go-to platform for scalable, low-cost, decentralized applications. The decision to implement ZK compression directly on the L1 is also part of Solana's approach of always striving to remain ahead of the curve when incorporating new solutions within the context of blockchain technology. With this development, Solana firmly establishes itself in the continuous transformation and expansion of the crypto ecosystem to address the growing customer base.

The post "Igloo Inc. Forms to Enhance On-Chain Crypto Experience" first appeared on 36crypto.com News.
Igloo Inc., a newly introduced parent company, unites the famous NFT brand Pudgy Penguins and the leading #NFT​ licensing platform OverpassIP. It is a significant collaboration that changes the perception and experience of new crypto users when using digital assets. The company's mission is to directly onboard as many users as possible to the blockchain layer to advance the consumer crypto movement.
Contrary to most projects, Igloo focuses on enabling the everyday use of cryptocurrencies by improving the user experience on the blockchain. Calling it simplicity, Igloo has laid out its marketing strategy to make the cryptocurrency product as appealing to as many people as possible.
Pudgy Penguins is the Flagship Brand
Pudgy Penguins, established in 2021, will act as the primary or keynote brand to Igloo's ecosystem brands. The NFT project has evolved from being just an unorganized sector where people reproduce their work and sell it as art, NFT brands are now well-formed brands that not only seek to operate in the digital world but also evoke emotions from the viewers. It is argued that this hostility is fundamental to developing much-needed trust and familiarity with crypto.
To this effect, Pudgy Penguins has agreed with Walmart stores and Target. Also, in 2020, the project declared a partnership with Mythical Games – an experienced game developer, to create engaging video games based on a mobile application. The titles of these games are still upcoming and will undergo a soft launch in 2025.
The current data shows Pudgy Penguins' floor price is around 9.13 ETH, equivalent to $30,700. Market capitalization is within the region of $274 million, and the actual volume of transactions over the last 24 hours equals $ 1mln for the NFT project. These figures show that Pudgy Penguins are now a major player in the NFT space and are making a significant impact.
Future Plans and Vision of Igloo Inc
Igloo Inc. aims to establish a long-term blockchain environment for the firm and its partners. The company's idea is to expand the number of available features shortly to achieve the company's ultimate mission of creating a one-stop-app-design experience. This campaign seeks to push cryptocurrency into the future, where it is easily understandable and enjoyable.
By focusing on the on-chain experience and leveraging the popularity of Pudgy Penguins, Igloo Inc. is poised to play a pivotal role in the consumer crypto revolution. The company's strategic partnerships and innovative approach highlight its commitment to enhancing the crypto experience for newcomers and seasoned users.

#CryptoPCEWatch

The post "Bitcoin Poised for Potential Rally Amid Favorable Liquidity Conditions" first appeared on 36crypto.com News.
Bitcoin, despite trading at the lower levels of its monthly range, is showing signs of potential upward movement. The current distribution of liquidity suggests a favorable environment for price growth. A chart indicates that the highest selling pressure exceeds the $70,000 threshold. Consequently, a reversal is likely with the introduction of some buying volume.
Bitcoin Poised for Sharp Price Upswing
This is why liquidity in the $ 70,000-$ 80,000 bracket shows a highly skewed claim on liquidation leverage. This means that once it rises, it can move to these high-liquidity zones quickly, thus drawing investors. Therefore, below the indicated levels, selling pressure decreases, hence providing a background for price increases.
Currently, support for #bitcoin☀️ is around $57,000, just above the 200-day moving average. This technical support level is essential for sustaining more optimistic trends. It remains crucial for Bitcoin to maintain this level of support and attract buyers again toward the target price of $72,500 and above.
Thus, massive buying might initiate a flamewar that would lead to the activation of Stop Out Level and force-collar at $70,000, with ample buying available at that level. Studying Bitcoin's history and movements in the market, people have understood that the upsides in the overall liquidity lead to sharp upswings in price. Therefore, a high volume of buying and sentiments pointing to the upward market could be considered factors that could help drive this trajectory.
Current Trends and Ability to Forecast
Even though the current market indicators point to bear-dominated markets, the liquidity levels hint at a reversal. Both traders and investors should watch any buying signals and other barometers of the start of this expected move. In this context, it is necessary to focus on the changing nature of the market's liquidity, which is one of the critical aspects. As we can see, there is ample risk above $70,000, yet enough buying pressure can push the price quickly.
Furthermore, past experiences and market tendencies suggest that while sides are significantly tilted to the topside, Bitcoin increases tremendously in value. This increase in buying volume and better market sentiments may enable this ascending pattern.

#MtGoxJulyRepayments

The post "Mt Gox Set to Distribute Bitcoin and Bitcoin Cash to Creditors in July 2024" first appeared on 36crypto.com News.
In a significant development for cryptocurrency stakeholders, Mt Gox has announced that it will begin distributing Bitcoin and Bitcoin Cash to its creditors starting July 2024. This decision came after a long restoration period after the platform's distressing failure in 2014, which caused turmoil in the global landscape of cryptocurrencies.
The process of repaying the invested amount will be lengthy, along with handling large numbers of creditors, and it is estimated that thousands of individuals will have their stakes in the digital assets. There was a high-profile failure of Mt Gox, a famous digital currency exchange platform, that lost 850,000 #Bitcoins due to a cyberattack, raising questions about the safety standards of the Bitcoin exchanges. But now, after ten years, each holder will recover about 140,000 Bitcoins that belong to them.
The repayment plan, confirmed by Mt Gox's trustee, involves a structured release of funds that ensures equity and transparency. The creditors can get paid in Bitcoin, Bitcoin Cash, and any other fiat currency;" the choice is theirs. This heuristic was applied purposely due to flexibility in the existing policies that aim to meet the needs of the affected parties.
However, this repayment exercise is among the elements of the rehabilitation program adopted by the Tokyo District Court in 2018. Since then, many procedural issues, apart from the natural obstacles, have hindered the repayment, and many logistical factors have delayed it. But then the trustee's office cleared all obstacles for payment, and distributions are beginning as planned.
Increased security measures have also been adopted to ensure that the distribution process is not interrupted. Extensive cryptography techniques are believed to help protect the disbursement process from cybercrime. Further, robust and perennial surveillance and live reporting will guarantee that the process will continue operating in an open and protected style.
Mt Gox Case Could Mark Turning Point
Before the date of distribution, the trustee guarantees that all the repayments will be made strictly following legal provisions governing the payment systems under the laws of Japan. Creditors have been encouraged to enter their account information with their various banks and to confirm all their details so that there is an orderly transfer of the funds.
Furthermore, the decentralized finance community considers the future of cryptocurrency an opportunity to revive investors' lost trust in the central digital asset exchange. Given historical misfortunes, the successful completion of the Mt Gox case could prove to be a turning point in the safety and soundness of #cryptocurrency and its handling.
#MtGoxJulyRepayments

The post "Circle CEO Jeremy Allaire's Optimism on the Future of Cryptocurrency" first appeared on 36crypto.com News.
Circle CEO Jeremy Allaire has been leading the company behind the #USDC✅ stablecoin for 11 years. According to him, now is the time when he is most optimistic about the future of cryptocurrencies. Why exactly now? He explained this in his recent post at X. 
Allaire's View on the Crypto Market
Jeremy Allaire explains that his view on the crypto market is based on the experience and knowledge of 35 years of observing the life cycles of Internet technologies.
“We’ve seen an unrelenting march of open networks, open protocols, and open software, with layer upon layer of infrastructure on the internet that deepens its utility for society and the economy,” he says.
Allaire points out that the Internet used to lack trust, without which it was limited in terms of the utility it could provide to the world. There was no way to fully trust data, transactions, or computation, leading to a deepening dependence on hyper-centralized structures (corporate and government). However, the role of the Internet in society was increasingly growing, and its ability to perform an increasingly important function in the organization of society and the economy was evident.
He notes that after the emergence of #Bitcoin developers began to think more deeply about how they could extend the foundations of cryptocurrencies to provide a more generalized Internet infrastructure that could become fundamental to society and the economy. 
Allaire sees the current state of cryptocurrencies as a new layer of Internet infrastructure that adds an important component of trust that was not previously present. He argues that this allows the industry and the technology behind it to significantly impact social and economic functions.
“This is what drew me into this space” Allaire notes.
The Future of Cryptocurrency
Allaire noted that he is particularly interested in breakthroughs in ZK technology in modern industry. He envisions a future where cryptographic computing is at the heart of important applications across a variety of industries. Over the past two years, this technology has been increasingly perceived as an important part of solving the blockchain trilemma by supporting scalability and interoperability without compromising privacy.
Currently, zkSync is one of the most popular ZK Layer 2 projects in 2024. The coin has gained popularity due to its technical advantages that help ensure speed, efficiency, and privacy for Ethereum users, making it a key player in the development and integration of blockchain applications. Currently, zkSync is available for trading on many cryptocurrency exchanges, including Gate.io, OKX, WhiteBIT, and others.
He also pointed out the growing recognition of digital assets in the global financial system, as well as the fact that clear regulatory frameworks are emerging around the world. 
“Bitcoin has become one of the largest and most important alternative investment assets on the planet,” Allaire says.
He added that the largest asset management companies are now offering blockchain-based products and services, including direct regulated access to Bitcoin through spot and futures exchange products around the world.
Aller also emphasized the widespread adoption of stablecoins, which he considers the "killer app" of cryptocurrencies. He predicted that by the end of 2025, stablecoins will be legally recognized as digital currencies in almost all major jurisdictions, potentially transforming the market.
Conclusion
Jeremy Allaire believes that the current moment is the most important for cryptocurrency technologies and their future role in society and the economy. His many years of experience observing the development of Internet technologies allows him to view cryptocurrencies as a new stage of the Internet infrastructure that brings the necessary component of trust to expand their influence on global finance and technological progress.

#CryptoPCEWatch #MtGoxJulyRepayments #CryptoTradingGuide

The post "Tether to Discontinue Support for USDT on EOS and Algorand" first appeared on 36crypto.com News.
Tether Inc, the issuer of the largest stablecoin by volume, USDT, has announced that it will cease issuing the stablecoin on the EOS and Algorand blockchain. This development is part of a broader strategy taken by the company to maintain a robust and innovative blockchain ecosystem.
Tether keeps to this standard by continually assessing the current transport layers, in a bid to strike a balance between maintainability, usage, and community interest. After checking these factors, the crypto firm has resolved to discontinue its services on the aforementioned blockchain effective immediately.
EOS and Algorand Did Not Meet Tether Security Assessment
According to the released statement, Tether considers the interest of the crypto community, stressing that it plays an important role in choosing specific blockchains for USDT. Tether evaluates factors like the network’s security architecture to guarantee the safety, usability, and sustainability of the blockchain before integration. However, after careful assessment, the company has decided to cease support for EOS and Algorand blockchains.
Per the statement, Tether will stop minting USDT on the aforementioned blockchain effective June 24. Additionally, Tether has assured the public that it will continue redeeming USDT on EOS and Algorand till June 2025.
"Tether will continue to redeem USD₮ on EOS and Algorand as usual for the next 12 months. Further changes may be evaluated and announced around that time," the statement reads.
The company promised to continue supporting protocols and blockchains that the community finds useful. #USDT users who use the affected platforms are assured of a smooth transition with minimal disruptions. Tether maintains that its goal is to deliver a good user experience, emphasizing its commitment to facilitating a seamless transition.
With a reserve amount of $18 trillion, there is only $17 million USDT among 39,000 investors in Algorand, based on on-chain data. There are 32,000 holders of $85 million USDT coins on EOS. These figures are incredibly low for the $112 billion market cap token when compared to other chains.
Following this removal, USDT is now available on the following blockchains; Avalanche, Celo, Kava (Cosmos), Ethereum, Liquid Network, NEAR, Polkadot, Solana, Tezos, TON, and Tron. Notably, Ethereum and Tron hold the major supply of the stablecoin.
#MtGoxJulyRepayments #CryptoPCEWatch #MicroStrategу #BinanceTournament