In a volatile crypto market, Sui and Arbitrum face unique challenges. Sui shows market resilience, while Arbitrum struggles with downward trends. Contrasting these, BlockDAG’s latest presale milestone of $55.2 million underscores its dominance, driven by state-of-the-art X-series miners offering up to a 30,000x ROI, positioning BlockDAG as a leader in crypto mining innovation and a robust long-term investment. Sui Crypto Price Forecast: Potential Surge to $1.60-$2.30? Despite recent fluctuations, Sui Crypto has remained resilient, currently trading around $0.835 after recovering from a low of $0.76, despite a 10.20% decrease. Analysts are optimistic, projecting a rise to between $1.60 and $2.30 in the future. The token’s enduring appeal is bolstered by its governance role and support for decentralized applications. Backed by technological innovations and strategic market placement, Sui is poised for potential stability and growth, capturing investors’ interest in its forward-looking capabilities. Arbitrum’s Valuation Challenges: Recent Downturns Arbitrum has recently encountered significant setbacks, with its value dropping 11.18% last week. This decline was propelled by substantial token unlocks and market manipulations, such as Wintermute’s pre-unlock $12 million ARB deposit to Binance, which heightened market anxieties and fueled sell-offs. The influx of 92.3 million ARB tokens intensified market instability, dampening investor sentiment. With these challenges, Arbitrum stakeholders are increasingly seeking alternative investment avenues, underscoring the importance of strategic innovations for enduring success in the volatile crypto environment. BlockDAG’s $55.2M Presale Triumph and X-Series Miner Innovations BlockDAG stands as a pillar of stability and growth amid market uncertainties, securing $55.2 million through its compelling presale, selling over 11.8 billion BDAG coins, and attracting $3.5 million from over 8200 miners. This robust financial backing demonstrates immense investor trust, catapulting BlockDAG to the forefront of trending cryptocurrencies. Beyond its financial achievements, BlockDAG’s ecosystem is designed to enhance decentralized application development across various industries, making it a linchpin for the logistics and financial sectors. BDAG coins are central to this vibrant ecosystem, facilitating access to a wide range of dApps and promoting community engagement. BlockDAG also excels with its user-friendly mining technologies. From the portable X1 crypto miner app, allowing everyday users to mine up to 20 BDAG coins daily, to advanced setups like the X10, X30, and X100, which promise substantial daily outputs, BlockDAG ensures mining is accessible and profitable. These mining innovations promise to deliver transformative investment returns, potentially reaching a 30,000x ROI. Last Say As the crypto landscape fluctuates, BlockDAG’s innovative strategies and solutions set it apart. While Sui may rise to new heights and Arbitrum contends with bearish pressures, BlockDAG’s remarkable presale success and pioneering X-series miners present unmatched investment prospects. For those seeking premier crypto mining technology and dependable long-term gains, BlockDAG’s ongoing presale offers a lucrative opportunity, poised to yield substantial returns. Join BlockDAG Presale Now: Website: https://blockdag.network Presale: https://purchase.blockdag.network Telegram: https://t.me/blockDAGnetworkOfficial Discord: https://discord.gg/Q7BxghMVyu

The post BlockDAG’s $55.2M Presale Highlights Strong Investor Confidence as Sui Stabilizes and ARB Dips appeared first on Blockonomi.

Frankfurt, Germany, July 2nd, 2024, Chainwire

Mpeppe (MPEPE) is emerging as a transformative force, poised to redefine online gambling and community engagement. By going beyond mere financial transactions, Mpeppe (MPEPE) aims to build a vibrant, creative, and globally impactful community. This ambitious project embraces the spirit of soccer and integrates decentralized finance (DeFi) elements, driving positive change and creation through strategic community planning.

Mpeppe (MPEPE) in Online Gambling

Meme cryptocurrencies, known for their playful branding and viral marketing, have significantly influenced the online gambling sector. Mpeppe (MPEPE) stands out in this space for several compelling reasons:

Market Dynamics: The inherent volatility of Mpeppe (MPEPE) can create an engaging experience, drawing interest from those who are accustomed to the fluctuating nature of traditional gambling.

Viral Influence: Utilizing memes and internet culture, Mpeppe (MPEPE) engages audiences beyond typical cryptocurrency markets, increasing visibility and interest in online gambling platforms.

Reward Mechanisms: The Mpeppe (MPEPE) Casino offers an engaging gaming experience by utilizing $MPEPE and other cryptocurrencies for timely rewards, setting it apart from traditional online casinos.

Mpeppe (MPEPE) and DeFi: A Powerful Synergy

At the forefront of innovation, Mpeppe (MPEPE) is integrating DeFi protocols into its ecosystem, significantly enhancing its utility. Key features of this integration include:

Yield Farming and Liquidity Mining: Mpeppe (MPEPE) allows users with the chance to earn rewards through liquidity provision and farming activities, fostering an active community and incentivizing participation.

Decentralized Governance: empowers its community with decentralized governance mechanisms. This enables members to have a say in the project’s direction and development, promoting a sense of ownership and collaboration. The community-driven approach ensures that the interests of all stakeholders are considered, fostering a more inclusive and democratic environment.

Comprehensive Financial Services: Mpeppe (MPEPE) Integrating DeFi protocols allows Mpeppe (MPEPE) to offer a wide range of financial services such as lending, borrowing, trading, and yield farming without traditional intermediaries. Mpeppe (MPEPE) demonstrates the potential of DeFi to innovate within the financial sector.

Building a Global Community

Mpeppe (MPEPE) is a meme coin that aims to create a global community that celebrates creativity, soccer spirit, and real-world impact. It aligns its values with community interests, aiming to build a sustainable ecosystem. The project’s focus on soccer resonates with a global audience, creating camaraderie and shared purpose. This unique approach distinguishes Mpeppe (MPEPE) from other meme coins.

Join the Mpeppe (MPEPE) Movement

As Mpeppe (MPEPE) continues to grow and innovate, it invites individuals and investors to join its movement and be part of a community that values creativity, positive change, and creation. With its unique blend of meme culture, online gambling excitement, and DeFi integration, Mpeppe (MPEPE) is set to revolutionize the future of online gambling and community engagement.

About Mpeppe (MPEPE)

Mpeppe (MPEPE) is a meme cryptocurrency aiming to create a global community through strategic community planning. It integrates decentralized finance protocols and soccer spirit, driving positive change and creation. Mpeppe is a visionary project that combines online gambling excitement with DeFi innovation, fostering a global community united by soccer and a commitment to positive change.

For more information on the Mpeppe (MPEPE) Presale, users can visit Mpeppe (MPEPE) and join the community on Telegram | Twitter.

Users can use promo code $MPEPPE to get a 15% bonus.

Mpeppe (MPEPE) is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

Contact

Marketing Team
Chris P
Mpeppe.io
team@mpeppe.io

The post Transforming Online Gambling and Community Engagement: Mpeppe (MPEPE) Unveils Strategic Innovations appeared first on Blockonomi.

While Shiba Inu and PEPE grapple with bearish trends causing investor anxiety, BlockDAG emerges as a beacon of stability, successfully selling 11.8 billion coins and amassing $55.2 million, proving its mettle in the competitive crypto arena. The standout feature fueling investor confidence is the X10 miner, offering substantial passive income and anchoring BlockDAG’s practical, utility-driven strategy in a market often driven by speculation. Shiba Inu Faces Downward Pressure, Predictions Point to New Lows Shiba Inu continues to struggle, with price predictions indicating a sustained bearish trend as it dips below critical support levels. Recent analyses suggest that, barring sporadic consolidation attempts, Shiba Inu may continue its descent, potentially testing new psychological support zones. For Shiba Inu’s outlook to improve, it must break its pattern of setting new lows and stabilize, though the current market strength remains predominantly bearish. PEPE Encounters Bearish Market Trends Similarly, PEPE is under significant bearish pressure, with vital indicators like the Relative Strength Index (RSI) and Awesome Oscillator (AO) highlighting a lack of momentum for a positive reversal. Increased selling activity and diminished network engagement suggest waning interest, risking further declines if it fails to hold critical support levels. The prevailing sentiment around PEPE remains gloomy, posing challenges for a near-term recovery. BlockDAG’s Presale & X10 Miner Spearhead Robust Growth In contrast to fluctuating meme coins, BlockDAG presents a model of stability and real-world utility. The platform’s impressive presale coin performance, with 11.8 billion coins sold for $55.2 million, underscores robust investor confidence and growth potential. The X series miners, especially the X10 model, have added $3.4 million in sales, demonstrating its appeal with an impressive 100 MH/s hash rate allowing for the mining of up to 200 BDAG daily—equating to an anticipated $2000 daily once BDAG reaches $10 in 2025. The X10 miner’s efficiency and user-friendly design make it ideal for both newcomers and seasoned miners. It operates quietly and consumes only 40 watts, making it a cost-effective mining solution. As BlockDAG prepares for an early Mainnet launch, investors engaging now with the X10 and participating in the presale are poised to reap substantial benefits from the anticipated surge in BDAG’s value. BlockDAG: A Portal to Sustained Passive Income While Shiba Inu and PEPE wrestle with bearish forecasts, BlockDAG stands out as a superior investment opportunity gaining over $55.2 million in presale. The X10 miner exemplifies BlockDAG’s commitment to long-term profitability, offering investors a reliable income stream that could reach $2000 daily by 2025 as BDAG prices rise. This strategic positioning distinguishes BlockDAG in the DeFi space, promising quick returns and extensive financial growth for its investors, far outpacing its competitors. Join BlockDAG Presale Now: Website: https://blockdag.network Presale: https://purchase.blockdag.network Telegram: https://t.me/blockDAGnetworkOfficial Discord: https://discord.gg/Q7BxghMVyu

The post BlockDAG’s X10 Miner: Your Ticket to Earning $2000 Daily Amidst Shiba Inu & PEPE Downtrends appeared first on Blockonomi.

Champaign, Illinois, United States, July 2nd, 2024, Chainwire

Pi Squared, (Proof of Proof), announced the closure of their first capital raise. Led by Polychain Capital, the syndicate includes ABCDE, Bloccelerate, Generative Ventures, Robot Ventures, and Samsung Next. Angel investors include Shumo Chu, Harish Devarajan, Justin Drake, Sreeram Kanaan, Csongor Kiss, George Lambeth, Yilong Li, Calvin Liu, Lucian Mincu, Karthik Raju, and Common Prefix.

Using zero-knowledge (ZK) technology in a correct-by-construction and fundamentally unique way, Pi Squared will enable trustless remote computing, AI, and interoperable smart contracts for any blockchain or dApp. This will be made possible through the creation of a universal and disarmingly small ZK circuit that checks the integrity of mathematical proofs, which will provide verifiable-computing correctness guarantees to all languages and virtual machines (VMs) alike directly from their formal semantics, without any translation to a common language, VM, or instruction set architecture (ISA).

“Our mission is to revolutionize verifiable computing, making it universal for all languages and virtual machines, inherently correct-by-construction, and lightning-fast,” says Grigore Roșu, CEO of Pi Squared and CS Professor at University of Illinois Urbana-Champaign. “This will have many applications, including a universal settlement layer (USL) so all Blockchains, L1s and L2s, can be universal, correct, inter-operable and efficient. It does not end there, our long-term mission is to settle all science and knowledge on USL.” 

“Pi Squared’s proof of proof technology will have a transformative impact across Web3 and beyond,” said Karthik Raju, GP at Polychain Capital. “Pi Squared’s universal ZK circuit will significantly increase the reach and applicability of Web3 for everyone, from builders to end users.”

Pi Squared will enable the next generation of verifiable computing that is universal and scalable with an optimally minimal trust base. The first product powered by Pi Squared is the Universal Settlement Layer (USL), an architecture for modular blockchains that enables the following characteristics:

Universality

Computations can be expressed in any high-level or virtual machine language, without the need for compilers or translators.

Provable correctness

Computations verified by the USL are mathematically proven to be correct, and any external entity can independently verify the correctness of the state of the USL.

Trust Base Minimality

USL exposes any trust assumptions in upper-layer computations for increased transparency, end-user awareness, and will minimize the trust base through correctness proofs.

App Interoperability

The USL will support interoperability between different application modules and networks (e.g. appchains). 

Determinism and reproducibility

The validation is reproducible and independently verifiable by any external entity.

Pi Squared’s USL therefore provides end-to-end correctness guarantees for generic computations while minimizing the trust base underlying these computations. USL promotes verifiable computing as the standard distributed computing paradigm without requiring or promoting particular domain-specific languages (DSLs), VMs, or execution environments, all while being efficient and scalable.

Pi Squared will be presenting and exhibiting at events around EthCC in Brussels from July 8th to 11th. Attendees can listen to Pi Squared’s CEO, Grigore Roșu, speak at Restaking & Infra Day on July 8th and L2con on July 9th.

About Pi Squared

Pi Squared means ZK proofs of mathematical proofs. Pi Squared uses ZK technology in a correct-by-construction and fundamentally unique way. A universal and disarmingly small ZK circuit provides verifiable-computing correctness guarantees to all languages and VMs alike, without any translation to a common language, VM, or ISA. Pi Squared is led by UIUC professor Grigore Rosu, founder of the K framework and of Runtime Verification, and consists of researchers and founders of successful projects in formal methods, blockchain, and AI/ML.

To book a meeting with Pi Squared’s CEO and team, attendees can reach out to contact@pi2.network. 

To learn more about Pi Squared’s vision and Proof of Proof, visit pi2.network and follow Pi Squared on social media.

Contact

Head of Marketing
Chris Hazelton
Pi Squared Inc
media@pi2.network

The post Pi Squared Raises $12.5 Million in Seed Funding Led by Polychain Capital to Build a Universal ZK Circuit Powered by Proof of Proof appeared first on Blockonomi.

The cryptocurrency market is always teeming with new opportunities and shifting dynamics. Recently, the spotlight has fallen on Solana (SOL) and Mpeppe (MPEPE), two promising assets that are drawing significant attention from investors. A notable Solana (SOL) millionaire, worth a staggering $10 million, has joined the Mpeppe (MPEPE) presale, attracted by its potential for 300x gains. This move has raised eyebrows and sparked discussions about the future of these two cryptocurrencies.

Solana (SOL): A Pillar of Strength in the Crypto World

Solana (SOL) has established itself as a robust player in the crypto market, known for its high-speed transactions and scalability. The platform’s unique proof-of-history (PoH) consensus mechanism allows it to process transactions at lightning speed, making it a favorite among developers and investors alike. Solana (SOL)’s ability to handle a large number of transactions per second (TPS) without compromising on security has cemented its reputation as a reliable blockchain solution.

The steady rise in Solana (SOL)’s price is a testament to its growing adoption and the confidence investors have in its long-term potential. With a myriad of projects building on its platform, Solana (SOL) continues to attract substantial investment, driving its market value higher. However, even as Solana (SOL) remains a formidable force, savvy investors are always on the lookout for the next big opportunity.

Mpeppe (MPEPE): The New Frontier in Meme Coins

Enter Mpeppe (MPEPE), a new player in the meme coin arena that is quickly gaining traction. Unlike many meme coins that rely solely on hype, Mpeppe (MPEPE) combines a strong community focus with practical applications in gaming and decentralized finance (DeFi). This unique blend makes Mpeppe (MPEPE) a standout in a crowded market, appealing to both casual and serious investors.

Priced attractively at $0.0007, Mpeppe (MPEPE) offers a low entry point with the potential for high returns. The presale of Mpeppe (MPEPE) has generated significant buzz, drawing in investors who are eager to capitalize on its potential for massive gains. The involvement of a Solana (SOL) millionaire in the Mpeppe (MPEPE) presale underscores the growing interest and confidence in this new cryptocurrency.

The Appeal of Mpeppe (MPEPE) for Solana (SOL) Investors

For investors accustomed to the stability and performance of Solana (SOL), Mpeppe (MPEPE) presents an intriguing opportunity. The allure of 300x gains is hard to ignore, especially for those looking to diversify their portfolios. The Solana (SOL) millionaire’s decision to invest in Mpeppe (MPEPE) is a strategic move, aimed at maximizing returns by tapping into the growing popularity of meme coins.

The investment in Mpeppe (MPEPE) is not just about the potential for high returns; it’s also about the community and the innovative use cases that Mpeppe (MPEPE) brings to the table. By integrating elements of gaming and DeFi, Mpeppe (MPEPE) is creating a dynamic ecosystem that keeps users engaged and drives value. This approach resonates with investors looking for projects that offer more than just speculative gains.

The Future of Mpeppe (MPEPE) and Solana (SOL)

As Mpeppe (MPEPE) continues to gain traction, it poses an interesting question: Can it sustain its momentum and deliver on its promise of high returns? The involvement of significant investors, such as the Solana (SOL) millionaire, adds credibility and brings additional resources to the project. With a strong community and innovative use cases, Mpeppe (MPEPE) is well-positioned to make a substantial impact in the crypto market.

Meanwhile, Solana (SOL) remains a strong contender in the blockchain space, with its proven technology and growing ecosystem. The dual investments in Solana (SOL) and Mpeppe (MPEPE) reflect a balanced strategy that leverages the strengths of both assets. Investors are hedging their bets, capitalizing on the stability of Solana (SOL) while exploring the high-growth potential of Mpeppe (MPEPE).

Conclusion

The decision of a Solana (SOL) millionaire to join the Mpeppe (MPEPE) presale highlights the dynamic nature of the cryptocurrency market. With Solana (SOL) continuing to perform strongly and Mpeppe (MPEPE) offering exciting growth potential, investors are strategically positioning themselves to reap significant rewards. As the market evolves, the interplay between established players like Solana (SOL) and emerging stars like Mpeppe (MPEPE) will undoubtedly shape the future of crypto investments.

For those interested in joining the Mpeppe (MPEPE) presale, the smart contract address is 0xd328a1C97e9b6b3Afd42eAf535bcB55A85cDcA7B. This investment could be the gateway to impressive returns, as the world of cryptocurrency continues to offer new and exciting opportunities.

For more information on the Mpeppe (MPEPE) Presale: 

Visit Mpeppe (MPEPE)

Join and become a community member: 

https://t.me/mpeppecoin

https://x.com/mpeppecommunity?s=11&t=hQv3guBuxfglZI-0YOTGuQ

The post Solana (SOL) Millionaire Worth $10m Joins Mpeppe (MPEPE) Preseale for 300x Gains appeared first on Blockonomi.

Ripple (XRP) is currently in the spotlight as analysts predict a significant price surge. Positive technical indicators and the potential resolution of the legal case are driving this optimism. Analysts suggest that XRP could reach new heights, with price targets ranging from $2.90 to $16.10. EGRAG CRYPTO, a popular market analyst, noted that Ripple’s (XRP) recent monthly candle closed above a major resistance level, indicating a potential jump. This bullish sentiment is further supported by experts who believe a decisive legal victory for Ripple (XRP) could propel Ripple’s (XRP) price even higher.

Alongside Ripple (XRP), there is one more project gaining traction: Minotaurus (MTAUR). It’s actively gaining attention as a promising token with significant growth potential. Below, you will find key reasons why it can potentially outshine the past upward trajectory of Ripple (XRP).

Turn to Minotaurus (MTAUR) for Potential Success

The $14.78 billion casual gaming business is predicted to expand yearly by 9% according to Statista. Minotaurus, a blockchain gaming project that is presently in presale, intends to not only enter this sector, but see plenty of success within it.

Essentially, it’s a blockchain-powered labyrinth navigation game where players battle whimsical beings, avoid traps, and get virtual currency. Minotaurus is a mobile-optimized experience that lets you customize your characters, get power-ups, unlock new regions, and level up your skills wherever you are.

What to Do Now?

If you want to know how Minotaurus is coming along and get your hands on some unique action, you have to become an early adopter. Use $MTAUR tokens to unlock Minotaur characters, buy stuff, personalize your avatar, get access to exclusive zones, and get incentives when you invite friends. During the presale, token holders get access to tokens valued at $0.00004, compared to a listed price of $0.00020, which provides a 5-time price cut. They also enjoy vesting incentives and referral bonuses.

For those anxious, Minotaurus demonstrates trustworthiness and openness with certified smart contracts that guarantee security. Prominent companies like SolidProof and Coinsult were involved, which should tell you a lot.

Right now, the project combines low price, strong utility, market potential, and tight security measures, positioning it as a great entry point for certain crypto aficionados. Make sure you don’t miss out—join the presale and save 80% by linking your wallet today.

Plus, use code PED411 to get an extra 5% bonus within 48 hours of the text’s publication. 

Ripple (XRP) Approved for Global Transfers Amid Legal Battle

 

In a major development for Ripple (XRP), the cryptocurrency has been approved for global transfers by Dubai, signaling significant international growth despite ongoing legal challenges from the U.S. Securities and Exchange Commission (SEC). 

 

This approval is a testament to Ripple’s potential for expansion and influence in the global financial system. Amid this positive news, Ripple (XRP) is holding strong at around $0.47, showing resilience despite the legal uncertainties. The SEC initially sought a hefty $2 billion penalty against Ripple (XRP) for allegedly conducting unregistered securities offerings, but recent estimates suggest this fine could be significantly reduced to under $25 million. 

 

The ongoing legal battle with the SEC has created a cloud of uncertainty over Ripple’s (XRP) future, but the company remains hopeful. Legal analysts suggest that the court may opt for targeted measures to address the allegations without disrupting Ripple’s (XRP) core business. The recent ruling in the SEC v. Binance case, which rejected the SEC’s claims on Binance’s BNB token, could set a precedent that favors Ripple (XRP). This has contributed to a more optimistic market sentiment, with analysts projecting potential price increases for Ripple (XRP). Experts predict that a favorable resolution could see Ripple (XRP) reaching new heights, possibly between $2.90 and $16.10. 

 

The broader cryptocurrency market is also reflecting this positive sentiment, with major assets like Bitcoin (BTC) and Ethereum (ETH) showing gains. Ripple’s (XRP) ability to maintain its value amidst legal challenges and market fluctuations is a testament to its strong fundamentals and market confidence. As the legal battle with the SEC progresses, the outcome will likely set important precedents for the entire cryptocurrency industry.

 

Conclusion

 

Ripple (XRP) is currently in the spotlight as analysts predict a significant price surge. Positive technical indicators and the potential resolution of the Ripple v. SEC legal case are driving this optimism.  The bullish sentiment is supported by experts who believe a decisive legal victory for Ripple (XRP) could propel the price higher. Similarly, there are many people who believe that Minotaurus (MTAUR) is destined for greatness – some projections see it as fast potential success.

 

Learn more about Minotaurus:

Website: http://minotaurus.io/

Announcements: https://t.me/minotaurus_official

Chat: https://t.me/minotaurus_chat

Twitter: https://twitter.com/minotaurus_io

The post XRP and MTAUR are heading to new 10x ATH – grab at low prices while you can! appeared first on Blockonomi.

Solana (SOL) has solidified its reputation as a premier blockchain platform, recognized for its high-speed transaction capabilities and robust infrastructure supporting decentralized applications. The latest move by 21Shares to file for a Solana (SOL) ETF in the US marks a significant milestone, following in the footsteps of VanEck. This filing is a testament to the growing optimism surrounding Solana (SOL), driven by evolving crypto regulations and increased institutional interest. The 21Shares Core Solana (SOL) ETF is designed to provide easy and cost-effective exposure to Solana (SOL), reflecting a strategic push to make the cryptocurrency more accessible.

Curiously enough, the spotlight on Solana (SOL) ETF filing has also brought attention to Minotaurus (MTAUR), another promising token in the market. Minotaurus (MTAUR), known for its unique in-game mechanism and expanding utility, stands out as a candidate for significant potential growth in today’s market. Read on to find out what makes it so appealing and what it has to offer to those who jump in at potentially the most opportune time, i.e. now.

Discover Minotaurus ($MTAUR): A Great Deal in Blockchain Gaming

Ready for a new adventure in blockchain gaming? Minotaurus ($MTAUR) is giving you the chance to join its exciting world at a super low cost. Right now, you can buy $MTAUR tokens for just $0.00004 each — 80% off the future listing price!

Why Choose Minotaurus?

For those who haven’t made up their minds yet, here are some compelling reasons to jump on board:

Huge Savings for Early Birds

During the first presale stage, $MTAUR tokens are five times cheaper than the planned listing price of $0.00020. Get in early and save a lot!

Extra Perks

Receive more tokens for extending vesting. Score extra benefits for referring friends to the project.

Exceptional Utility

You can swap $MTAUR tokens for in-game currency and make in-game purchases. Customize your avatar, play mini-games, get speed boosts, and access special zones. Plus, you can score bonuses by inviting friends to play.

Fun and Engaging Game

Minotaurus features a fun endless runner maze game where you navigate through mazes, dodge obstacles, fight enemies, and find hidden treasures. Inspired by Greek myths, the game offers an exciting and immersive experience.

Secure and Trustworthy

Minotaurus is safe and secure, with audits by SolidProof and Coinsult. The team behind the project has a strong history of success in the crypto world, making it a reliable choice.

Growing Market

Minotaurus is part of the booming casual gaming market, expected to grow by over 9% each year as per Statista. With 5.9 billion downloads of similar games in 2023, it’s clear that Minotaurus is in the right place at the right time.

Time Waits No One — Act Fast!

The presale tokens are limited, and this special 80% price cut won’t last long. Get your $MTAUR tokens now and join an exciting blockchain gaming project at its earliest stages.

 

>> Buy $MTAUR Now — 80% Off! <<

 

Here’s your 5% booster bonus — use code PCR744 at checkout within 48 hours from when this article is published.

21Shares Files for Solana ETF Amidst Growing Ecosystem Developments

 

Now, let’s discuss a move that served as something of a catalyst for heightened interest in Minotaurus (MTAUR). 

 

In a significant move for the cryptocurrency market, 21Shares has filed for a Solana (SOL) ETF in the US, following the recent application by VanEck. This strategic step reflects the increasing institutional interest in Solana (SOL), a blockchain platform renowned for its high-speed transactions and robust infrastructure for decentralized applications. The proposed 21Shares Core Solana (SOL) ETF aims to offer a cost-effective way to gain exposure to Solana (SOL) without direct ownership, marking a pivotal moment for the crypto industry as regulatory dynamics evolve.

 

Adding to the excitement, Solana (SOL) has introduced a groundbreaking feature that allows crypto transactions on any website. This innovation is set to revolutionize online payments, making it easier for users to transact with Solana (SOL) seamlessly across various platforms. This development is expected to drive further adoption and usage of Solana (SOL), enhancing its position in the market.

 

Raoul Pal, co-founder of Real Vision Group, has shared a bullish outlook on Solana (SOL), predicting a potential surge in its price to $1,000 amidst key ecosystem advancements. Highlighting technological innovations such as NFT compression, Blink, Fire Dancer, and ZK compression, Pal emphasizes Solana’s enhanced transaction processing capabilities and scalability. 

 

The token has demonstrated impressive resilience, maintaining strong support levels despite market volatility. Currently trading at $149, Solana (SOL) has shown a 11% increase over the past week, outperforming major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). As institutional interest grows and technological developments continue, Solana (SOL) is positioned for significant price appreciation.

 

Moreover, recent on-chain data and market analysts are projecting an upward trajectory for Solana (SOL), with bulls eyeing the $150 mark. Despite some bearish sentiments, the asset’s growth momentum remains strong, bolstered by institutional inflows and the recent ETF filings. Solana’s (SOL) market cap has surged, and daily trading volumes have seen a significant increase, indicating a renewed upswing.

 

The combination of technological advancements, institutional interest, and strategic developments positions Solana (SOL) as a key player in the crypto market. As the ecosystem continues to expand, the future looks promising for SOL, with potential significant price increases on the horizon.

Conclusion

Solana (SOL) has strengthened its position as a leading blockchain platform. The recent filing by 21 Shares for a Solana (SOL) ETF in the US highlights growing institutional interest and marks a significant milestone. Another promising token, Minotaurus (MTAUR), has also come to light thanks to the coverage of Solana (SOL) ETF registration.

The presale project seems to have it all figured out based on where it stands right now. The advantageous presale price (-80%) coupled with a significant potential for expansion make the path clear for most enthusiasts – get in as early as possible to get the most growth possible if the project manages to find success.

Learn more about Minotaurus:

Website: http://minotaurus.io/

Announcements: https://t.me/minotaurus_official

Chat: https://t.me/minotaurus_chat

Twitter: https://twitter.com/minotaurus_io

 

The post 21Shares files Solana ETF: SOL to $1,000 – is MTAUR next to pump? appeared first on Blockonomi.

TLDR

Ray Kurzweil predicts AI will reach human-level intelligence by 2029 and the Singularity will occur by 2045

Kurzweil envisions humans merging with AI through brain-computer interfaces and nanobots

He believes AI will dramatically improve quality of life but acknowledges potential risks

Critics argue Kurzweil’s predictions are overly optimistic and raise concerns about inequality

Experts emphasize the need for ethical frameworks and regulations as AI advances

Ray Kurzweil, the renowned futurist and Google’s principal AI researcher, has reiterated his prediction that artificial intelligence will reach human-level intelligence by 2029 and that the Singularity – a point where humans merge with AI – will occur by 2045. In his new book “The Singularity Is Nearer,” Kurzweil explores the rapid progress of AI and its potential to transform society.

Kurzweil’s optimism about AI’s future is rooted in the exponential growth of computing power. He notes that one dollar now buys about 600 trillion times more computing power than when GPS was developed. This rapid advancement, he argues, sets the stage for revolutionary changes across various fields, from medicine to manufacturing.

The futurist envisions a world where humans merge with AI through brain-computer interfaces, ultimately using nanobots – molecule-sized robots – to connect our brains to the cloud. “We are going to expand intelligence a millionfold by 2045,” Kurzweil claims, suggesting that this merger will deepen our awareness and consciousness.

While Kurzweil acknowledges potential risks associated with advanced AI, he remains optimistic about its benefits. He believes AI will lead to dramatic improvements in quality of life, with technologies like 3D printers providing sufficient clothing and housing for everyone, and AI pioneering new medical treatments.

“As AI unlocks unprecedented material abundance across countless areas,” Kurzweil writes, “the struggle for physical survival will fade into history.”

However, Kurzweil’s predictions are not without critics. Many question whether his visions are overly utopian, particularly regarding the equitable distribution of technological benefits. Concerns about AI safety and ethical implications have been raised by other prominent figures in the tech world, including Geoffrey Hinton and Elon Musk.

The potential for AI to surpass human intelligence raises significant ethical, economic, and societal questions. Experts like historian Yuval Noah Harari warn of the loss of human agency and ethical concerns around surveillance and autonomy.

AI researchers Stuart Russell and Timnit Gebru emphasize the need for rigorous safety measures and ethical frameworks to guide AI development, cautioning that without these, advanced AI could pose significant threats to humans and perpetuate social inequalities.

As we approach the potential Singularity, policymakers and technologists face the challenge of developing robust regulatory frameworks.

Several states and localities have begun work on such frameworks to promote transparency, fairness, accountability, and privacy in AI systems. In 2024 alone, 429 bills related to AI were introduced in state legislatures.

Paul W. Taylor, writing for Government Technology, argues that the proximity of Kurzweil’s predicted Singularity gives humans a much-needed deadline. “We humans must be as active in deciding how AI will make decisions as it is while we still can,” Taylor writes, emphasizing the urgency of human oversight in AI decision-making processes.

The post Ray Kurzweil AI Predictions: Human-Level Intelligence by 2029, Singularity by 2045 appeared first on Blockonomi.

TLDR

AI is being used to enhance various types of scams, including voice cloning, personalized phishing, identity fraud, and deepfake blackmail

Morgan Freeman has spoken out against unauthorized AI voice imitations of himself

Celebrities like Scarlett Johansson and Drake have faced issues with AI-generated content imitating their voices

There is growing concern in the entertainment industry about the misuse of AI technology

Experts recommend vigilance and cybersecurity best practices to protect against AI-powered scams

As artificial intelligence (AI) technology advances, scammers are finding new ways to exploit it for malicious purposes.

From voice cloning to deepfake blackmail, AI-powered scams are becoming more sophisticated and harder to detect.

At the same time, celebrities are speaking out against unauthorized use of their voices and likenesses in AI-generated content.

One of the most concerning AI scams involves voice cloning of family and friends. Scammers can now create convincing fake versions of loved ones’ voices using just a few seconds of audio.

These synthetic voices can be used to create fake distress calls asking for money or help. Experts advise being wary of any unexpected calls from unknown numbers and verifying the identity of the caller through normal communication channels.

Personalized phishing and spam emails are another growing threat. AI language models can now generate customized spam messages using personal information obtained from data breaches.

These tailored messages are much more convincing than traditional generic spam. Users are advised to remain vigilant and avoid clicking on links or opening attachments from suspicious sources, even if the message seems personalized.

Identity fraud is also becoming more sophisticated with AI. Scammers can now create AI personas that sound like a target person and have access to many personal facts used for identity verification.

This makes it easier for them to impersonate individuals when contacting customer service. Experts recommend using multi-factor authentication and being cautious of any suspicious account activity.

Perhaps the most alarming development is the use of AI-generated deepfakes for blackmail.

Advanced image generation models can now create realistic fake nude images of almost anyone, which scammers may use as leverage for extortion. While this is a disturbing trend, experts note that these fake images often lack distinguishing marks and may have obvious flaws. Victims are advised to report such incidents to the authorities.

The entertainment industry has been particularly affected by unauthorized AI imitations.

Recently, actor Morgan Freeman spoke out against AI voice imitations of himself circulating on social media. In a statement, Freeman thanked his fans for their “vigilance and support in calling out the unauthorized use of an A.I. voice imitating me.” He emphasized the importance of maintaining “authenticity and integrity” in the face of such technology.

Thank you to my incredible fans for your vigilance and support in calling out the unauthorized use of an A.I. voice imitating me. Your dedication helps authenticity and integrity remain paramount. Grateful. #AI #scam #imitation #IdentityProtection

— Morgan Freeman (@morgan_freeman) June 28, 2024

Freeman is not alone in his concerns. Other celebrities have faced similar issues with AI-generated content.

Scarlett Johansson’s legal team recently challenged OpenAI over an AI personal voice assistant that sounded remarkably similar to her voice, despite her declining to participate in the project.

Rapper Drake also faced controversy for using AI-generated imitations of Tupac Shakur and Snoop Dogg in a song, leading to a cease-and-desist order from Shakur’s estate.

The post Morgan Freeman and Celebrities Speak Out Against Unauthorized AI Imitations appeared first on Blockonomi.

TLDR

Silvergate Capital Corp. has agreed to pay $63 million to settle charges with U.S. and California regulators

The SEC sued Silvergate and former executives for misleading investors about its anti-money laundering program

Silvergate allegedly failed to detect $9 billion in suspicious transfers by FTX

Former CEO Alan Lane and former COO Kathleen Fraher settled, while former CFO Antonio Martino denied the charges

The bank voluntarily liquidated in March 2023 following the crypto industry’s downturn

Silvergate Capital Corp., the parent company of the now-defunct crypto-friendly Silvergate Bank, has agreed to pay $63 million to settle charges brought by U.S. and California regulators.

The settlement addresses allegations of internal management failures and misleading disclosures to investors about the effectiveness of its anti-money laundering program.

The U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Silvergate Capital Corporation and its former executives, including CEO Alan Lane, COO Kathleen Fraher, and CFO Antonio Martino. The SEC accused the bank of misleading the public and shareholders about having an effective Bank Secrecy Act/anti-money laundering (BSA/AML) program when it did not.

According to the SEC’s complaint, Silvergate failed to detect nearly $9 billion worth of suspicious transfers by its major customer FTX, the crypto exchange that filed for bankruptcy in November 2022.

The regulators allege that for most of 2021 and 2022, the bank did not conduct appropriate automated monitoring of its Silvergate Exchange Network (SEN), a key product for crypto asset customers to transfer funds.

The Federal Reserve and California’s Department of Financial Protection and Innovation (DFPI) brought similar charges against the La Jolla, California-based lender. Silvergate’s penalties include $43 million from the Fed and $20 million from the California regulator. The SEC imposed its own $50 million fine, which may be offset by payments to the banking regulators.

Silvergate, Lane, and Fraher agreed to settlements where they neither admit to nor deny the SEC’s allegations.

However, they will pay penalties, and the two former executives agreed to a five-year ban on being officers or directors of another public company. Martino, the former CFO, has denied the allegations through his attorneys.

The SEC’s complaint reveals that Lane and Fraher were allegedly aware of serious deficiencies in the bank’s BSA/AML compliance program on several occasions prior to November 2022. Despite receiving word from government examiners that its efforts were inadequate, Silvergate still claimed there were no risk factors in its quarterly or annual reporting.

Silvergate’s rapid rise from a small community bank to the digital assets sector’s leading financial partner was followed by an even faster descent. The bank voluntarily folded under the pressure of the crypto sector’s downturn in March 2023, making it the first of three technology-tied lenders to be shuttered during that period’s “crypto winter.”

The loss of Silvergate and two other banks (Silicon Valley Bank and Signature Bank) triggered months of U.S. banking turmoil and left digital asset companies struggling to find financial relationships as crypto fell further out of favor.

A Silvergate spokesperson stated that the settlements are part of the bank’s ongoing efforts to wind down. The bank had already repaid all deposits to banking customers by November 2023 and ceased banking operations soon after.

The post Silvergate Settles for $63M Over Anti-Money Laundering Violations appeared first on Blockonomi.

TLDR

Bitcoin has gained about 4.5-5% since the weekend

Analysts predict a potentially bullish July for Bitcoin based on historical trends

On-chain metrics show network-wide accumulation but also hint at potential issues

Bitcoin ETFs recorded $124 million in inflows on the first day of July

Some experts suggest a “relief rally” may be beginning as selling pressure diminishes

Bitcoin, the world’s largest cryptocurrency, has seen a price increase of about 4.5-5% since the last weekend of June. This uptick has caught the attention of traders and analysts, who are now looking ahead to what July might bring for the digital asset.

Historically, July has been a strong month for Bitcoin. Data shows that over the last decade, Bitcoin has gained an average of more than 11% in July, with 7 out of 10 months showing positive returns.

Some trading firms, like Singapore-based QCP Capital, point out that Bitcoin has a median return of 9.6% in July and tends to bounce back strongly, especially after a negative June.

This historical trend is contributing to optimistic forecasts for the coming weeks. The first day of July saw U.S.-listed Bitcoin ETFs record nearly $130 million in inflows – their highest since early June. This comes after more than $900 million in outflows over the previous month, suggesting a potential shift in investor sentiment.

On-chain metrics are providing mixed signals about Bitcoin’s current state. The 30-day MVRV (Market Value to Realized Value) ratio is negative, indicating that short-term holders are currently at a loss. However, the mean coin age has been trending higher over the past six weeks, which is typically a positive sign. This combination suggests network-wide accumulation and potentially signals an undervalued asset.

However, not all indicators are bullish. The Network Value to Transactions Ratio suggests that Bitcoin might be overvalued compared to the amount of BTC transacted on-chain daily.

Some analysts have raised concerns about “artificial demand,” noting that it’s primarily crypto exchanges buying up Bitcoin being sold in recent weeks, rather than wider market participation.

Despite these concerns, many experts believe that a “relief rally” may be on the horizon. Crypto intelligence platform Santiment suggests that negative market sentiment and trader losses mean “a relief rally may just be beginning.”

???? Looking at July's outlook, there is major reason to be optimistic after so much small trader capitulation. The crowd's negativity and average trader losses means that a relief rally may just be beginning. Read our June monthly recap here! https://t.co/1359OPYMuY

To read our… pic.twitter.com/ZEVCm3sz2H

— Santiment (@santimentfeed) July 2, 2024

This view is echoed by CryptoQuant analyst Minkyu Woo, who observed that large-scale selling pressure on exchanges appears to be diminishing based on Tether outflow patterns.

Looking at the technical side, Bitcoin’s price action has defended important support levels. The support zone stretching back to March 1st was retested and held, as were the range lows of the past three months’ price action. At the time of writing, the mid-range mark at $63,300 is serving as resistance.

It’s important to note that the cryptocurrency market still faces some potential headwinds. The upcoming release of $9 billion worth of Bitcoin from the long-bankrupt Mt. Gox exchange could lead to selling pressure as creditors seek to cash out their long-locked crypto assets.

The post Is Bitcoin’s Summer Slump Over? BTC On The Rise as Analysts Predict Bullish July appeared first on Blockonomi.

TLDR

Dogwifhat (WIF) has surged 16-21% in recent days, reaching $2.34

Analysts predict WIF could reach $4.50-$7.30 in the coming months

The rally is fueled by increased trading volume and derivatives activity

WIF’s price action shows a bullish BARR bottom pattern

Solana ETF applications are boosting interest in Solana-based memecoins like WIF

Dogwifhat (WIF), a popular memecoin on the Solana blockchain, has seen a significant price surge in recent days. The cryptocurrency, known for its logo featuring a Shiba Inu dog wearing a pink knitted hat, jumped 16-21% to reach $2.34. This rally has caught the attention of traders and analysts, who are now predicting further gains for WIF.

The recent price increase is part of a larger rebound that has seen WIF climb 60% from its low of $1.47 just a week ago. This upward movement has been driven by several factors, including increased trading activity and growing interest in Solana-based projects.

WIF Price at Coingecko

One of the key drivers of WIF’s price surge is the spike in trading volume. Daily trading volume for WIF has exploded, surpassing $507 million.

This increased liquidity suggests that more traders are becoming interested in the memecoin. The derivatives market for WIF has also seen significant activity, with trading volume up 53.9% and open interest (OI) increasing by 25%.

Technical analysts have identified a bullish pattern in WIF’s price chart known as a BARR (Bump-and-Run Reversal) bottom. This pattern typically signals the end of a downtrend and the beginning of an upward movement. According to the BARR bottom analysis, WIF could potentially reach a target of $2.81 in the near future.

Several analysts have made bold predictions for WIF’s future price. Market Spotter, a crypto forecasting firm, has set a target of $4.50 for WIF in the next bull run.

Even more optimistically, CoinCodex projects a potential price of $7.30 by July 31, 2024, which would represent a 223% increase from current levels.

The renewed interest in WIF and other Solana-based memecoins is partly due to recent developments in the broader Solana ecosystem. Asset managers like VanEck and 21Shares have filed applications for Solana exchange-traded funds (ETFs) with the U.S. Securities and Exchange Commission. These potential ETFs have sparked excitement among investors, who anticipate increased institutional interest in Solana and its associated projects.

While WIF has shown strong performance recently, it is still trading 55% below its all-time high reached on March 31. The cryptocurrency has experienced significant price swings, with a 22.27% price volatility over the past month.

The post Dogwifhat (WIF) Surges 21% as Trading Volume Spikes: Analysts Predict $4.50-$7.30 Price Target appeared first on Blockonomi.

TLDR

Northern Data, Europe’s largest Bitcoin miner, is considering an IPO for its AI and data center businesses in 2025

The IPO could value the company between $10 billion and $16 billion

Northern Data has expanded from Bitcoin mining into AI and cloud computing

The company secured $610 million in debt financing from Tether in 2023

Other Bitcoin miners are also diversifying into AI as mining profits decrease

Northern Data, a German company known as Europe’s largest Bitcoin miner, is looking to go public in the United States.

The company is planning an initial public offering (IPO) for its artificial intelligence (AI) and data center businesses. This move could value the company between $10 billion and $16 billion.

The IPO is planned for the first half of 2025 on the Nasdaq stock exchange. Northern Data is talking to potential advisers about the listing. The company might also sell a small part of the business to investors before the IPO.

Northern Data’s plan involves listing two of its business units. One is called Taiga, which handles cloud computing. The other is Ardent, which manages data centers. The company might also list its Bitcoin mining business, Peak Mining, separately.

This isn’t the first time Northern Data has thought about going public in the U.S. In 2021, the company considered an IPO for its cryptocurrency mining business, but it didn’t happen.

Northern Data started as a Bitcoin mining company in 2009, making it one of the oldest in the industry. Over time, it has grown and changed. Now, it does more than just mine Bitcoin. The company has moved into cloud computing and AI, which are fast-growing areas of technology.

This shift is part of a larger trend in the Bitcoin mining industry. As profits from mining have gone down, many companies are looking for new ways to use their resources. Northern Data, along with other miners like Core Scientific, TeraWulf, and Hut 8 Corp, are now working in AI and cloud computing.

Northern Data’s move into AI comes at a time when there’s a lot of interest in this technology. Many companies are investing heavily in AI, and Northern Data wants to be part of this growth. The company plans to use 20,000 of Nvidia’s H100 chips, which are some of the most advanced AI chips available.

To support its growth plans, Northern Data got $610 million in debt financing from Tether, a company known for its stablecoin, in November 2023. This money is being used to buy advanced computer chips and expand the company’s operations.

Northern Data’s Bitcoin mining unit, Peak Mining, is still a significant part of the business. It has nearly 700 megawatts of data centers being built or developed in the U.S. This makes it one of the largest crypto miners in the country.

The company’s move towards an IPO comes as the cryptocurrency industry faces challenges. Other crypto companies like Circle and Kraken have had trouble going public due to regulatory issues. However, Northern Data’s focus on AI and cloud computing might help it avoid some of these problems.

It’s important to note that Northern Data’s IPO plans are not final. The details could change, or the company might decide not to go ahead with the IPO. The company has not officially commented on these plans.

As Northern Data prepares for a possible IPO, it represents a shift in the Bitcoin mining industry. Companies are adapting to changing markets by expanding into new areas of technology.

The post Northern Data: European Bitcoin Miner Considers $16 Billion U.S. Listing appeared first on Blockonomi.

TLDR

Coinbase has filed a notice in its legal battle with the SEC, citing a recent court ruling in favor of Binance

The SEC sued Consensys over MetaMask’s Ethereum staking service

SEC Commissioner Mark Uyeda criticized the agency’s approach to crypto filings

Recent Supreme Court decisions may limit the SEC’s power over crypto

The crypto industry is facing regulatory challenges and calls for clearer guidelines

Coinbase, one of the largest cryptocurrency exchanges in the United States, has made a move in its ongoing legal battle with the Securities and Exchange Commission (SEC).

Coinbase recently filed a notice citing a court ruling in favor of Binance, another cryptocurrency exchange. This ruling, made by Judge Jackson, dismissed the SEC’s claim that secondary market transactions in Binance’s BNB token were investment contracts.

Coinbase’s lawyers argue that this decision highlights inconsistencies in how courts apply the Howey test to cryptocurrencies.

The Howey test is a framework used to determine what constitutes a security. Coinbase claims that the SEC’s current stance deviates from this established framework. This situation, they say, shows the need for a higher court to review these cases and provide clearer guidance.

Paul Grewal, Coinbase’s chief legal officer, expressed concern about the inconsistent application of rules. He stated,

“Liability shouldn’t depend on which court you get sued in or which judge is assigned to your case.”

This sentiment reflects the frustration felt by many in the crypto industry about the lack of clear regulations.

While Coinbase fights its legal battle, the SEC has taken action against other crypto companies.

Recently, the regulator sued Consensys, the parent company of MetaMask, a popular cryptocurrency wallet. The SEC alleges that Consensys operated as an unregistered broker and offered unregistered securities through its MetaMask Swaps service.

These legal actions come at a time when even some within the SEC are questioning the agency’s approach.

Commissioner Mark Uyeda criticized the SEC’s handling of crypto asset filings. In a footnote of a recent statement, Uyeda called the agency’s current approach “problematic.” He suggested that the forms used for filing don’t properly reflect the unique nature of digital assets.

Uyeda’s comments hint at a potential shift in how the SEC might handle crypto regulations in the future. He emphasized that the current approach “neither facilitates capital formation nor protects investors.”

Adding to the regulatory uncertainty, recent Supreme Court decisions may limit the SEC’s power over crypto. Two rulings in particular could have significant implications.

One decision held that defendants in SEC civil cases involving securities fraud are entitled to a jury trial. Another overturned a precedent that required lower courts to defer to federal agencies’ interpretation of laws.

Sheila Warren, CEO of the Crypto Council for Innovation, commented on these rulings: “This has direct implications for the crypto industry. The role and firepower of regulators, like the SEC, is in question if courts have the ability to step in.”

These developments come as the crypto industry continues to call for clearer regulatory guidelines. The conflicting court decisions and changing legal landscape have left many companies unsure about how to comply with regulations.

The post Recent Court Rulings and SEC Actions Reshape Crypto Regulatory Landscape appeared first on Blockonomi.

Robinhood Markets, a popular American financial services company, announced it has acquired Pluto Capital, an AI-powered investment research platform. With the latest acquisition, Robinhood seeks to corporate the use of advanced AI into its trading services, and thus enhance user experience.

It looks like Robinhood is actively upgrading its services and offerings despite the ongoing regulatory battle with the SEC.

According to Robinhood’s blog announcement, the acquisition will help Robinhood realize its goal of intelligent investing with data-driven insights and personalized strategies. The firm expects to benefit from Pluto’s unique advantages to make AI-powered investment tools accessible to everyone.

Apparently Not Worried About The SEC

With Pluto, users can access enhanced data analysis powered by advanced AI. Pluto’s AI is able to process vast amounts of financial data for quicker trend identification, said Robinhood.

In addition, Pluto tailors investment recommendations to individual risk tolerance, goals, and behavior. Investors can also receive real-time updates and AI-driven portfolio optimization for better returns.

Mayank Agarwal, VP of Engineering at Robinhood Markets, said Pluto has “built an impressive platform that is highly regarded in the financial services industry.” Agarwal added that Pluto’s AI expertise and its mission to democratize finance are in line with Robinhood’s goal to bring AI-based tools to its customers.

Jacob Sansbury, CEO of Pluto, believes Robinhood is a good fit for Pluto and its mission.

“Robinhood is the ideal destination to build products that democratize access to financial services like wealth management and financial planning through state of the art AI. I look forward to innovating at the company which has inspired me and so many others,” said Sansbury.

As part of the acquisition, Sansbury will join Robinhood to integrate AI capabilities across the platform.

Founded in 2021 by Sansbury, Pluto is an AI-driven investment advice platform that offers a marketplace of digital investment strategies for cryptocurrency trading. The company was created with Gen Z users in mind to facilitate quantitative retail investing. Sansbury is a former technical lead and senior software engineer at NVIDIA.

The latest acquisition came after Robinhood announced it reached a deal to acquire cryptocurrency exchange Bitstamp last month. The deal is valued at $200 million.

Fonded in 2011, Bitstamp is a prominent cryptocurrency trading platform in the UK, Bitstamp has a customer base of 4-5 million and offers a wider range of digital tokens, as well as lending and staking services, compared to Robinhood’s current crypto offerings.

Expected to be completed in the first half of 2025, the deal will allow Robinhood to expand its global footprint in the cryptocurrency market and compete with larger crypto trading platforms like Binance and Coinbase.

The acquisition will also help Robinhood develop an institutional business to complement its consumer-focused products, the firm said.

Growth Amid Hurdles

Robinhood’s crypto business has seen significant growth, contributing to the company’s strong financial performance in Q1 2024. However, Robinhood’s crypto expansion faces regulatory scrutiny from the SEC, which has signaled potential enforcement action against the company’s token offerings.

In May 2024, the SEC sent Robinhood a Wells Notice, a common act that precedes its intent to pursue enforcement action against Robinhood Crypto for alleged violations of securities laws The securities regulator alleges that certain crypto tokens offered on Robinhood’s platform should be classified and registered as securities, which Robinhood failed to do.

Potential consequences for Robinhood include civil injunctions, administrative actions, cease-and-desist orders, disgorgement, and monetary penalties.

In response to the potential legal action, Robinhood has signaled its intent to vigorously contest the SEC’s allegations. The firm argues that the crypto assets on its platform are not securities.

Despite the ongoing regulatory battle with the SEC, Robinhood is focusing on its business growth and improvement with the recent acquisitions.

The post Robinhood Acquires Pluto Capital for AI-Powered Investing appeared first on Blockonomi.

TLDR

A lawsuit accusing Keith Gill (known as “Roaring Kitty”) of a “pump and dump” scheme involving GameStop shares was filed on Friday, July 1, 2024.

The lawsuit was voluntarily dismissed by the plaintiff, Martin Radev, on Monday, July 1, 2024, without explanation.

The suit alleged that Gill manipulated GameStop’s stock price between May 13 and June 13 by quietly accumulating shares and options, then posting on social media.

Gill reportedly owns 9 million GameStop shares as of June 13, after selling 120,000 call options.

The lawsuit claimed Gill’s actions caused GameStop’s share price to fluctuate wildly, generating profits for him at the expense of other investors.

On Monday, July 1, Gill disclosed a 6.6% stake in Chewy Inc., causing its shares to spike.

A lawsuit accusing Keith Gill, the popular stocks influencer known as “Roaring Kitty” and “DeepF***ingValue,” of engaging in a “pump and dump” scheme involving GameStop Corp. shares was withdrawn just days after its filing.

The case, which briefly captured the attention of the financial world, highlights the ongoing saga of meme stocks and the power of social media influencers in the stock market.

On Friday, July 1, 2024, GameStop shareholder Martin Radev filed a proposed class action lawsuit in Brooklyn, New York federal court. The suit accused Gill of securities fraud, claiming he sought to manipulate GameStop’s stock for his own gain.

However, by Monday afternoon, Radev had voluntarily dismissed the lawsuit without prejudice, meaning he retains the right to file the suit again in the future.

The short-lived legal action alleged that Gill, who gained fame during the 2021 meme-stock craze, had quietly acquired 120,000 call options in GameStop before he began posting about the company in May 2024. According to the complaint, GameStop’s stock price, which had been trading around $17, soared to $48.75 on May 14 following Gill’s social media activity.

The lawsuit claimed that on June 2, Gill revealed ownership of 5 million GameStop shares and 120,000 call options set to expire on June 21. By June 13, Gill’s holdings had reportedly increased to more than 9 million shares of GameStop with no outstanding call options.

The suit alleged that Gill “quietly sold and/or exercised (i.e., dumped) all 120,000 of his GameStop call options for a large profit, seemingly to increase his own stake in GameStop stock by over 4 million shares.”

Radev’s complaint argued that Gill, as a former financial analyst, should have disclosed his large stake in GameStop sooner. The lawsuit claimed that Gill’s actions caused the stock price to fluctuate wildly, potentially harming other investors who bought securities at inflated prices during his alleged scheme.

Despite the lawsuit’s withdrawal, the incident has reignited discussions about the influence of social media personalities on stock markets. Gill, who amassed more than a million followers across his “Roaring Kitty” YouTube channel and “DeepF***ingValue” Reddit page, reemerged in May 2024 after a three-year hiatus from social media. His return and subsequent posts about GameStop were enough to cause significant movement in the stock’s price.

While the recent price movements were less dramatic than during the 2021 meme-stock frenzy, when GameStop surged more than 1,700% during one stretch in January, they still demonstrate the ongoing impact of social media on stock market dynamics. The 2021 event appeared to pit individual investors against hedge funds that were heavily shorting the troubled mall retailer.

On the same day the lawsuit was withdrawn, Gill disclosed a 6.6% passive stake in Chewy Inc., an online pet food and product retailer.

This disclosure came through a filing with the U.S. Securities and Exchange Commission and followed a cryptic post by Gill on the social media platform X (formerly known as Twitter) featuring a photo of a puppy.

The news sent Chewy’s shares spiking as much as 10%, briefly pushing the stock to a one-year high.

This latest development with Chewy demonstrates Gill’s continued influence in the stock market, even as legal questions swirl around his activities. It also underscores the ongoing phenomenon of meme stocks and the power of retail investors coordinating through social media platforms.

The post GameStop Investor Withdraws Lawsuit Against “Roaring Kitty” Keith Gill appeared first on Blockonomi.

TLDR

Circle has obtained an Electronic Money Institution (EMI) license in France, making it the first global stablecoin issuer compliant with EU’s MiCA regulations.

Circle’s USDC and EURC stablecoins are now MiCA-compliant and can be issued to European customers.

The MiCA framework, which began implementation on June 30, 2024, aims to standardize crypto regulation across the EU.

Circle’s CEO Jeremy Allaire sees this as a major milestone for bringing digital currency into mainstream acceptance.

Some industry players, like Tether’s CEO, have expressed concerns about MiCA’s complexity and potential risks for stablecoin issuers.

Circle, the company behind the USD Coin (USDC) and Euro Coin (EURC) stablecoins, has become the first global stablecoin issuer to achieve compliance with the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework.

On July 1, 2024, Circle announced that it had been registered in France as an Electronic Money Institution (EMI) by the Autorité de Contrôle Prudentiel et de Résolution (ACPR), the French banking regulator.

This landmark achievement allows Circle to issue its USDC and EURC stablecoins in compliance with the EU’s MiCA regulations, which came into effect on June 30, 2024. The MiCA framework represents the most comprehensive crypto regulatory effort to date, aiming to standardize digital asset regulations across the EU member states.

Jeremy Allaire, Circle’s co-founder and CEO, hailed this development as “a huge milestone in bringing digital currency into mainstream scale and acceptance.”

He emphasized the significance of working closely with French and EU regulators to offer fully compliant dollar and euro stablecoins to the European market.

As part of its compliance measures, Circle has opened up its Circle Mint to business customers in Europe. This allows them to mint and redeem USDC and EURC throughout the EU market.

The company clarified that all USDC and EURC currently in circulation in Europe are officially MiCA compliant, with Circle now holding 100% of EURC reserves under its regulated Circle France entity.

The MiCA framework, which was finalized nearly two years ago and approved by the EU Parliament last year, sets forth comprehensive guidelines for stablecoins and digital asset markets. It aims to protect investors, prevent market manipulation, and ensure the stability of the crypto ecosystem within the EU.

Dante Disparte, Circle’s head of policy, highlighted MiCA’s role in legitimizing the crypto industry while eliminating regulatory havens. “MiCA is both vindicating of the industry and its permanence, but it’s also clear that there are no more shortcuts,” he stated. “Gone are the days where you could operate in a regulatory haven or in the shadows and then expect to have liberal and free access to consumers and market participants.”

The implementation of MiCA and Circle’s compliance are seen as crucial steps in integrating stablecoins into the mainstream financial infrastructure for payments, finance, and commerce. Allaire predicted an acceleration in stablecoin adoption globally and expressed excitement about the potential growth in the adoption of Euro digital currency.

However, the new regulatory landscape has not been without its critics. Paolo Ardoino, CEO of Tether, another major stablecoin issuer, expressed concerns about MiCA’s requirements. He suggested that these could “not only render the job of a stablecoin issuer extremely complex but also make EU-licensed stablecoins extremely vulnerable and riskier to operate.”

These concerns come in the wake of announcements by major crypto platforms regarding their approach to MiCA compliance. Binance, the world’s largest crypto exchange, stated it would be limiting access to non-compliant stablecoins in the EU, though it later clarified that no “unauthorized stablecoins” would be immediately delisted from spot trading.

One of MiCA’s most contentious stablecoin regulations, known as Article 23, stipulates that stablecoin issuers cannot continue issuing non-euro-denominated stablecoins used as a “means of exchange” if they cross a threshold of 1 million transactions or more than 200 million euro (US$215 million) in trading volume per day.

Despite these challenges, Circle’s achievement marks a significant step forward for the crypto industry in Europe. The company’s compliance with MiCA positions USDC and EURC as leading stablecoins in the EU and sets a precedent for other major jurisdictions to adopt similar regulations.

The post Circle Achieves MiCA Compliance for USDC and EURC Stablecoins in EU appeared first on Blockonomi.

TLDR

The German government transferred 1,500 BTC (about $95 million) to crypto exchanges on July 1, 2024.

The U.S. government moved 3,375 ETH ($11.75 million) from seized funds to an unknown address.

Germany has transferred 2,700 BTC to exchanges over two weeks and holds 44,692 BTC worth $2.82 billion.

These government transfers have led to a 6% drop in Bitcoin’s price.

The moves suggest strategic management of crypto holdings by both governments.

In recent weeks, the cryptocurrency market has seen notable activity from two major government players: Germany and the United States. Both countries have made substantial transfers of digital assets, drawing attention from market watchers and potentially impacting crypto prices.

On July 1, 2024, the German government moved 1,500 Bitcoin (BTC), worth approximately $95 million, to several cryptocurrency exchanges. This transfer is part of a larger pattern of activity by the German authorities. Over the past two weeks, Germany has transferred a total of 2,700 BTC to major exchanges including Bitstamp, Coinbase, and Kraken.

JUST IN: ???????? German Government sends another 1,500 #Bitcoin  worth $95 million to exchanges.

The Government surely knows something… ???? pic.twitter.com/cgUO6JvZFh

— EDO FARINA ???? XRP (@edward_farina) July 1, 2024

These transfers represent a significant portion of Germany’s cryptocurrency holdings.

According to data from Arkham Intelligence, an on-chain analytics platform, the German government currently holds 44,692 BTC, valued at about $2.82 billion. The origin of these holdings can be traced back to a major seizure in 2013, when German law enforcement confiscated nearly 50,000 Bitcoin from the operators of Movie2k.to, a film piracy website.

While Germany has been moving Bitcoin, the United States government has been active with Ethereum (ETH). U.S. authorities transferred 3,375 ETH, worth about $11.75 million, to an unknown address. This ETH came from funds seized from Estonian crypto entrepreneurs Sergei Potapenko and Ivan Turogin.

The U.S. government has also been handling other cryptocurrencies. On June 30, it moved 11.84 BTC, worth around $743,000, from another address holding seized funds. In a separate transaction, the U.S. transferred 3,940 Bitcoin to Coinbase Prime, an institutional trading platform. These Bitcoin were originally seized from Banmeet Singh, a convicted drug trafficker, in 2024.

These government transfers have not gone unnoticed by the cryptocurrency market. Vijay Pravin, CEO of bitsCrunch, noted that Bitcoin’s price has dropped by about 6% since these government transactions began. He suggests this could be the market reacting to potential risks associated with large-scale government sales.

“I think it is the market waking up to potential downside risk,” Pravin said. “There’s caution in the air among investors that large-scale disposals by the German and U.S. governments could potentially trigger a more pronounced downturn in Bitcoin’s price. If that happens, we could see higher selling pressure and increased volatility.”

The timing of these transfers is interesting, given recent regulatory developments in Europe. The European Union recently adopted the Markets in Crypto-Assets Regulation (MiCA), which could be influencing Germany’s actions. MiCA is expected to have a significant impact on stablecoins and crypto asset services, potentially reshaping the European crypto landscape.

Despite these recent transfers, both governments still hold substantial amounts of cryptocurrency. The U.S. government remains the world’s largest holder of Bitcoin, with 213,530 BTC valued at over $13.8 billion. Germany, even after its recent transfers, still holds a significant Bitcoin reserve worth nearly $3 billion.

These government actions raise several questions about the future of cryptocurrency management by state actors. Are these transfers part of a larger strategy to liquidate seized assets? How might such large-scale government involvement impact the broader crypto market? And what implications do these actions have for future cryptocurrency regulations?

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TLDR

The U.S. Marshals Service (USMS) has chosen Coinbase Prime for a $32.5 million contract to custody and trade digital assets.

Coinbase Prime will provide custody and advanced trading services for large-cap digital assets seized by the USMS.

The USMS has previously faced challenges in managing and tracking cryptocurrency.

This contract comes while Coinbase is involved in legal battles with the SEC and other federal agencies.

Coinbase has a history of working with law enforcement to handle seized crypto assets.

The U.S. Marshals Service (USMS), a key law enforcement arm of the federal courts, has entered into a contract with Coinbase. The deal, worth $32.5 million, tasks Coinbase Prime, the company’s institutional investing branch, with providing custody and advanced trading services for large-cap digital assets.

This partnership comes at a time when the USMS has been seeking better ways to handle cryptocurrency. In 2022, an audit by the Office of the Inspector General for the Justice Department found that the Marshals Service struggled with managing and tracking digital assets. The new contract with Coinbase aims to address these challenges.

The USMS, which operates under the Department of Justice, is responsible for managing and disposing of assets seized in criminal investigations.

With the rise of cryptocurrency use in both legal and illegal activities, the agency has increasingly found itself dealing with digital assets. The contract with Coinbase is designed to “streamline custody, management, and disposal processes for cryptocurrency assets,” according to the USMS.

Coinbase was chosen after a competitive selection process. The company states that its “strong track record and ability to securely provide institutional-grade crypto services at scale” were key factors in winning the contract. This isn’t Coinbase’s first rodeo with law enforcement; the exchange has previously assisted agencies in custodying or selling crypto seized during criminal investigations.

The scope of the contract is broad. Coinbase Prime will not only store the digital assets but also provide “advanced trading services.”

This suggests that the USMS may use Coinbase’s platform to sell seized cryptocurrencies when necessary. The focus appears to be on “large-cap digital assets,” which likely includes well-known cryptocurrencies like Bitcoin and Ethereum.

The timing of this deal is interesting, given Coinbase’s current legal battles. The company is involved in a civil lawsuit with the U.S. Securities and Exchange Commission (SEC), filed in June 2023. The SEC has accused Coinbase of operating without proper registration. In response, Coinbase has been pushing back against what it sees as regulatory overreach.

Just last week, Coinbase filed its own lawsuits against the SEC and the Federal Deposit Insurance Corporation (FDIC). These suits allege that the agencies failed to comply with Freedom of Information Act requests. Coinbase has also accused federal financial regulators of trying to cut off the crypto industry from the banking sector.

Despite these ongoing legal challenges, the USMS contract suggests that other parts of the federal government see value in working with established crypto companies. This contract may provide Coinbase with a boost to its institutional credibility at a crucial time.

The post Coinbase to Manage Seized Digital Assets for U.S. Marshals Service appeared first on Blockonomi.

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