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SEC Chairman Gensler States Current Securities Regulations Sufficient For Cryptocurrency Industry
SEC Chairman Gary Gensler believes that current securities regulations are sufficient to regulate the cryptocurrency field.
In a recent testimony before the US House of Representatives, Securities and Exchange Commission (SEC) Chairman Gary Gensler addressed the issue of cryptocurrency regulation. He stated that the current securities regulations being applied by the SEC are “enough to cover most of the activities that are going on in the crypto field.”
When asked if the SEC has a plan to issue a regulation clarifying how securities laws will apply to digital assets, Gensler replied, “Those regulations already exist. That is the securities regulation that details how to conduct public fundraising.”
Gensler also commented on the state of the cryptocurrency market, stating that it is currently in a lawless period filled with non-compliance. He believes that the majority of cryptocurrency projects are securities under current regulations. He added that only the Securities and Exchange Commission, under the supervision of the House Financial Services Committee and the Senate Banking Committee, along with the courts, have the authority to define what is a security, not crypto exchanges.
Earlier this month, Gensler had taken a clear position on the matter, stating that only Bitcoin (BTC) is not a security, while most other coins will fall under the category and be subject to SEC regulation.
Meanwhile, the Commodity Futures Trading Commission (CFTC), another major financial regulatory agency in the US, has consistently opposed the SEC’s argument, claiming that large cryptocurrencies such as BTC, ETH, and even stablecoins are commodities. The US legislature is currently discussing a bill that would give CFTC the authority to regulate cryptocurrencies as commodities.
When asked about the topic, Gensler stated, “I think there are many regulations that, if applied, would trivialize the securities aspect of crypto.”
Regarding Binance, a platform recently sued by the CFTC for serious irregularities in trading activities, Gensler declined to comment on the matter or whether the SEC would target Binance next. Nevertheless, the SEC has taken legal action against many other exchanges in the past.
#SEC #Gensler #crypto2023 #BTC #azcoinnews
This article was republished from azcoinnews.com
In a recent testimony before the US House of Representatives, Securities and Exchange Commission (SEC) Chairman Gary Gensler addressed the issue of cryptocurrency regulation. He stated that the current securities regulations being applied by the SEC are “enough to cover most of the activities that are going on in the crypto field.”
When asked if the SEC has a plan to issue a regulation clarifying how securities laws will apply to digital assets, Gensler replied, “Those regulations already exist. That is the securities regulation that details how to conduct public fundraising.”
Gensler also commented on the state of the cryptocurrency market, stating that it is currently in a lawless period filled with non-compliance. He believes that the majority of cryptocurrency projects are securities under current regulations. He added that only the Securities and Exchange Commission, under the supervision of the House Financial Services Committee and the Senate Banking Committee, along with the courts, have the authority to define what is a security, not crypto exchanges.
Earlier this month, Gensler had taken a clear position on the matter, stating that only Bitcoin (BTC) is not a security, while most other coins will fall under the category and be subject to SEC regulation.
Meanwhile, the Commodity Futures Trading Commission (CFTC), another major financial regulatory agency in the US, has consistently opposed the SEC’s argument, claiming that large cryptocurrencies such as BTC, ETH, and even stablecoins are commodities. The US legislature is currently discussing a bill that would give CFTC the authority to regulate cryptocurrencies as commodities.
When asked about the topic, Gensler stated, “I think there are many regulations that, if applied, would trivialize the securities aspect of crypto.”
Regarding Binance, a platform recently sued by the CFTC for serious irregularities in trading activities, Gensler declined to comment on the matter or whether the SEC would target Binance next. Nevertheless, the SEC has taken legal action against many other exchanges in the past.
#SEC #Gensler #crypto2023 #BTC #azcoinnews
This article was republished from azcoinnews.com
Restructuring SEC; Firing Gensler
US Congressman Warren Davidson has proposed a new law called the SEC Stabilization Act. This law aims to change how the regulatory agency works and remove the current Chair, Gary Gensler. The goal of the law is to make US financial markets simpler and easier to understand.
Many people are unhappy with how Gensler has been enforcing rules for the crypto market, and he has been getting a lot of criticism.
In a recent statement, Gensler reminded people in the crypto industry that they need to follow the existing laws, even though many of them don't like the way things are now.
Davidson, who is a Congressman from Ohio, wants to fix the abuse of power and protect the market for the future.
#SEC #Gensler #Eshajee #Xrp
US Congressman Warren Davidson has proposed a new law called the SEC Stabilization Act. This law aims to change how the regulatory agency works and remove the current Chair, Gary Gensler. The goal of the law is to make US financial markets simpler and easier to understand.
Many people are unhappy with how Gensler has been enforcing rules for the crypto market, and he has been getting a lot of criticism.
In a recent statement, Gensler reminded people in the crypto industry that they need to follow the existing laws, even though many of them don't like the way things are now.
Davidson, who is a Congressman from Ohio, wants to fix the abuse of power and protect the market for the future.
#SEC #Gensler #Eshajee #Xrp
The CEO of Ripple, Brad Garlinghouse, has criticised Gary Gensler, the current chair of the U.S. Securities and Exchange Commission (SEC), for how the agency has handled cryptocurrency legislation.
In a tweet video posted on June 16, #Gralinghouse referred to #Gensler as a "bureaucrat" who was "weaponizing regulation" in response to the unsealing of the Hinman speech materials in the continuing #Ripple v. #SEC lawsuit.
Garlinghouse claims that Ripple's lawsuit is representative of the SEC's broader onslaught on the #cryptocurrency sector. He charged the regulatory body with intentionally generating ambiguity regarding regulations and exploiting this ambiguity to selectively enact its wishes.
In a tweet video posted on June 16, #Gralinghouse referred to #Gensler as a "bureaucrat" who was "weaponizing regulation" in response to the unsealing of the Hinman speech materials in the continuing #Ripple v. #SEC lawsuit.
Garlinghouse claims that Ripple's lawsuit is representative of the SEC's broader onslaught on the #cryptocurrency sector. He charged the regulatory body with intentionally generating ambiguity regarding regulations and exploiting this ambiguity to selectively enact its wishes.
SEC Chairman Gensler Discusses Impact of Judicial Decisions on Reevaluation of Bitcoin ETFs
Gary #Gensler , the Chairman of the Securities and Exchange Commission (SEC), recently spoke about the SEC's evolving approach to applications for spot Bitcoin Exchange-Traded Funds (ETFs), highlighting the significance of recent judicial decisions in this area.
SEC's New Perspective in Response to Judicial Decisions
In an interview with CNBC, Gensler detailed the SEC's revised stance influenced by court rulings that urged the regulator to reevaluate its previous rejections of Bitcoin ETF applications and to adopt a new approach. "It's now between eight to a dozen filings," said Gensler, emphasizing that as the Chairman of the SEC, he does not want to preempt anything and that everything is currently under review.
Gensler's Responses to Questions About Policy Changes
Speaking about the Grayscale case, Gensler was asked whether the SEC is altering its stance in response to objections. "At the SEC, we proceed in accordance with the laws set by Congress and as interpreted by the courts," Gensler explained, adding that the cryptocurrency field is fraught with regulatory non-compliance.
SEC and Interactions with Bitcoin ETF Issuers
In recent weeks, the #SEC has met with major Bitcoin ETF issuers, including BlackRock, Fidelity, Grayscale, and Franklin. James Seyffart, an ETF analyst at Bloomberg Intelligence, suggested that frequent communication could lead to greater hope for the early approval of these funds.
Delay in Decisions on Ethereum ETFs
The SEC has again postponed its decision on spot Ethereum ETF applications, this time from companies Invesco and Galaxy Digital. Seyffart proposes that the SEC consider simultaneous approval of multiple applications to ensure a level playing field among competitors.
Matrixport's View on Bitcoin and Cryptomarkets
According to a report by Matrixport, a crypto financial services platform, #Bitcoin and the overall cryptomarket will continue to prosper in 2024, even if the SEC does not approve Bitcoin ETFs. The report predicts that cryptocurrency prices could rise in 2024 and advises investors to monitor the Bitcoin dominance chart.
Potential Impact of Politics on Cryptomarkets
The report also states that the potential return of Donald Trump to the political arena could positively influence the cryptomarkets. "2024 is also an election year, and the likelihood of former President Donald Trump being re-elected is high," the report notes, suggesting that his policies could boost the American economy and consequently the values of American stocks and cryptocurrencies.
#Binance #crypto2023
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
SEC's New Perspective in Response to Judicial Decisions
In an interview with CNBC, Gensler detailed the SEC's revised stance influenced by court rulings that urged the regulator to reevaluate its previous rejections of Bitcoin ETF applications and to adopt a new approach. "It's now between eight to a dozen filings," said Gensler, emphasizing that as the Chairman of the SEC, he does not want to preempt anything and that everything is currently under review.
Gensler's Responses to Questions About Policy Changes
Speaking about the Grayscale case, Gensler was asked whether the SEC is altering its stance in response to objections. "At the SEC, we proceed in accordance with the laws set by Congress and as interpreted by the courts," Gensler explained, adding that the cryptocurrency field is fraught with regulatory non-compliance.
SEC and Interactions with Bitcoin ETF Issuers
In recent weeks, the #SEC has met with major Bitcoin ETF issuers, including BlackRock, Fidelity, Grayscale, and Franklin. James Seyffart, an ETF analyst at Bloomberg Intelligence, suggested that frequent communication could lead to greater hope for the early approval of these funds.
Delay in Decisions on Ethereum ETFs
The SEC has again postponed its decision on spot Ethereum ETF applications, this time from companies Invesco and Galaxy Digital. Seyffart proposes that the SEC consider simultaneous approval of multiple applications to ensure a level playing field among competitors.
Matrixport's View on Bitcoin and Cryptomarkets
According to a report by Matrixport, a crypto financial services platform, #Bitcoin and the overall cryptomarket will continue to prosper in 2024, even if the SEC does not approve Bitcoin ETFs. The report predicts that cryptocurrency prices could rise in 2024 and advises investors to monitor the Bitcoin dominance chart.
Potential Impact of Politics on Cryptomarkets
The report also states that the potential return of Donald Trump to the political arena could positively influence the cryptomarkets. "2024 is also an election year, and the likelihood of former President Donald Trump being re-elected is high," the report notes, suggesting that his policies could boost the American economy and consequently the values of American stocks and cryptocurrencies.
#Binance #crypto2023
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
I think the market's answer to yesterday's nonsense is important. We are calm and something big seems to be approaching. We can easily observe that there is no selling pressure, especially in low-risk assets.
$BTC $ETH $ARB #SEC #Gensler #BitcoinETFs!
$BTC $ETH $ARB #SEC #Gensler #BitcoinETFs!
#Binance claims a conflict of interest and makes bogus accusations against the SEC.
In the ongoing legal dispute, Binance aims to limit the #SEC's ability to make public pronouncements.
Both the #cryptocurrency exchange and the larger crypto market have been significantly impacted by the ongoing legal dispute between Binance[BNB] and the U.S. Securities and Exchange Commission (SEC). The SEC accused Binance of listing unregistered #securities and offerings, among other things.
Binance, together with its legal counsel, vigorously refuted these allegations and added that SEC Chairman Gary Gensler was involved in a conflict of interest. Additionally, according to Binance, #Gensler had asked the exchange for an informal advising position before taking over as SEC chair.
In the ongoing legal dispute, Binance aims to limit the #SEC's ability to make public pronouncements.
Both the #cryptocurrency exchange and the larger crypto market have been significantly impacted by the ongoing legal dispute between Binance[BNB] and the U.S. Securities and Exchange Commission (SEC). The SEC accused Binance of listing unregistered #securities and offerings, among other things.
Binance, together with its legal counsel, vigorously refuted these allegations and added that SEC Chairman Gary Gensler was involved in a conflict of interest. Additionally, according to Binance, #Gensler had asked the exchange for an informal advising position before taking over as SEC chair.
Top #Ripple Lawyer Likens #Gensler to Flat-Earther in Stinging Crypto Critique
In a stinging critique of #SEC chairman Gary Gensler, Ripple's top lawyer Stuart Alderoty compared the chairman to a flat-earther for his perceived inability to understand that the token is not a security. In a tweet, Alderoty said, "Talking to someone who still doesn't understand that the #token itself is not the security is like explaining to a flat earther that the world is round." The comment comes as the SEC signals its intent to appeal a recent landmark ruling in favor of Ripple.
In a stinging critique of #SEC chairman Gary Gensler, Ripple's top lawyer Stuart Alderoty compared the chairman to a flat-earther for his perceived inability to understand that the token is not a security. In a tweet, Alderoty said, "Talking to someone who still doesn't understand that the #token itself is not the security is like explaining to a flat earther that the world is round." The comment comes as the SEC signals its intent to appeal a recent landmark ruling in favor of Ripple.
US Representative Davidson Says Biden Administration Should Fire SEC Chief Gary Gensler
Last updated Sep 28, 2023
Once again Gray Gensler faced huge criticism from the US representatives & accused of abusing the role of the SEC chairman.
The United States Securities and Exchange Commission (SEC) is the top financial regulatory body in America. Since 2021, the SEC agency brought several regulatory enforcement actions against crypto companies blindly under the leadership of Gary Gensler. Many times Gensler was criticized by the crypto proponents as well as crypto-friendly US lawmakers.
On 27 Sep 2023, During a scheduled hearing, the SEC chairman Gensler found himself in front of lawmakers to discuss his agency’s oversight of the markets.
United States Representative Andy Barr accused Gensler of kneecapping” the U.S. capital markets with harsh regulatory enforcement actions.
Mr. Barr referred to an old testimony, where Gensler called the US the most sophisticated and innovative capital market in the world, and said that if the US capital market is a gold medalist then Gensler is the Tonya Harding of securities regulations.
People shared these statements on X (Twitter) & launched at Gensler for facing this situation.
Another U.S. Representative Warren Davidson said that he wishes that the Biden administration should fire Gensler from the role of SEC chairman.
Davidson accused Gensler of misusing the SEC chairman’s power as well as pushing a “woke” political and social agenda.
Patrick McHenry, the chair of the U.S. House Committee on Financial Services, asked Gensler whether Bitcoin is a security & if not whether it is a commodity. In response Gensler said Bitcoin didn’t meet the Howey test & analyzing its nature under the commodity laws is outside the scope of the SEC body.
McHenry said that Bitcoin must be a commodity, which Gensler tried to avoid answering several times during the hearing.
The House Committee on Financial Services chair also alleged that Gensler tried to choke off the crypto ecosystem under the US jurisdiction and also refused to be transparent with Congress about the SEC’s connections with now-bankrupt Crypto exchange FTX and its former CEO Sam Bankman-Fried (SBF), who is currently in the jail for a high level crypto frauds.
The U.S. Representative Ritchie Torres asked Gensler whether buying Pokemon cards is subject to Securities laws.
Gensler said that if you buy from a store then obviously not.
Further Torres asked if he would buy it from a digital platform, powered by blockchain technology then what? In response, Gensler said he needs to know more to figure out whether it will be subject to the Securities Act or not.
#Fire #SEC #Chief #Gary #Gensler
Once again Gray Gensler faced huge criticism from the US representatives & accused of abusing the role of the SEC chairman.
The United States Securities and Exchange Commission (SEC) is the top financial regulatory body in America. Since 2021, the SEC agency brought several regulatory enforcement actions against crypto companies blindly under the leadership of Gary Gensler. Many times Gensler was criticized by the crypto proponents as well as crypto-friendly US lawmakers.
On 27 Sep 2023, During a scheduled hearing, the SEC chairman Gensler found himself in front of lawmakers to discuss his agency’s oversight of the markets.
United States Representative Andy Barr accused Gensler of kneecapping” the U.S. capital markets with harsh regulatory enforcement actions.
Mr. Barr referred to an old testimony, where Gensler called the US the most sophisticated and innovative capital market in the world, and said that if the US capital market is a gold medalist then Gensler is the Tonya Harding of securities regulations.
People shared these statements on X (Twitter) & launched at Gensler for facing this situation.
Another U.S. Representative Warren Davidson said that he wishes that the Biden administration should fire Gensler from the role of SEC chairman.
Davidson accused Gensler of misusing the SEC chairman’s power as well as pushing a “woke” political and social agenda.
Patrick McHenry, the chair of the U.S. House Committee on Financial Services, asked Gensler whether Bitcoin is a security & if not whether it is a commodity. In response Gensler said Bitcoin didn’t meet the Howey test & analyzing its nature under the commodity laws is outside the scope of the SEC body.
McHenry said that Bitcoin must be a commodity, which Gensler tried to avoid answering several times during the hearing.
The House Committee on Financial Services chair also alleged that Gensler tried to choke off the crypto ecosystem under the US jurisdiction and also refused to be transparent with Congress about the SEC’s connections with now-bankrupt Crypto exchange FTX and its former CEO Sam Bankman-Fried (SBF), who is currently in the jail for a high level crypto frauds.
The U.S. Representative Ritchie Torres asked Gensler whether buying Pokemon cards is subject to Securities laws.
Gensler said that if you buy from a store then obviously not.
Further Torres asked if he would buy it from a digital platform, powered by blockchain technology then what? In response, Gensler said he needs to know more to figure out whether it will be subject to the Securities Act or not.
#Fire #SEC #Chief #Gary #Gensler
XRP Proper Party, Gary Gensler Hearing; BTC, ETH, XRP Price
REXBOX
With the second deadline for the US SEC’s spot Bitcoin ETF scheduled for the third week of October 2023, the onus in now on other major events like the XRP Property Party being hosted by Ripple.
Also Read: Chainlink Price Prediction As ETH Whale Makes Huge LINK Transfer
Events To Watch Out For
U.S. Securities and Exchange Commission Chair Gary Gensler is scheduled to testify at a hearing before the House Financial Services Committee on the oversight of the agency on September 27, 2023 at 10 am eastern time. Members of the committee have a history of strongly opposing Gensler’s views especially on the crypto regulatory framework. In an April 2023 hearing, Committee Chairman Patrick McHenry asked the Commission Chair if Ethereum (ETH) was a security or a commodity.
This could yet again be the subject of debate during the upcoming hearing in the context of the XRP lawsuit ruling, which categorized the token sale to retail buyers as not securities. On September 29, 2023, the Bureau of Economic Analysis is set to release the Personal Consumption Expenditures (PCE) Price Index data for August.
Ripple will be hosting “The Proper Party” on September 29, 2023 in New York City. It will be a community celebration of freedom from legal troubles thanks to the recent partial victory in the SEC lawsuit. While the event does not have any direct impact on the XRP demand and supply, it could potentially have an effect on trader sentiment. Also, the company may not make any big announcements in the event, it is expected.
Bitcoin Price: Upside Potential
While Bitcoin price closed last week with around 2% downside, it is likely that the latest dip is a corrective phase before recovering the upside momentum. Crypto analyst CrediBULL believes the downward path may be a bear trap before regaining upside direction. He believes the $27,000 level is there to be recovered going forward. “This latest push down looks to be manipulation to the downside prior to expansion to the upside. 27k incoming,” the analyst said.
Last week, a team of Ripple executives led by chief executive officer Brad Garlinghouse met US Congressmen in Washington D.C. to discuss regulatory framework around crypto assets.
#XRP #Proper #Party #Gary #Gensler
SOURCE : https://rexbox.online/rexbox-xrp-proper-party-gary-gensler-hearing-btc-eth-xrp-price/
With the second deadline for the US SEC’s spot Bitcoin ETF scheduled for the third week of October 2023, the onus in now on other major events like the XRP Property Party being hosted by Ripple.
Also Read: Chainlink Price Prediction As ETH Whale Makes Huge LINK Transfer
Events To Watch Out For
U.S. Securities and Exchange Commission Chair Gary Gensler is scheduled to testify at a hearing before the House Financial Services Committee on the oversight of the agency on September 27, 2023 at 10 am eastern time. Members of the committee have a history of strongly opposing Gensler’s views especially on the crypto regulatory framework. In an April 2023 hearing, Committee Chairman Patrick McHenry asked the Commission Chair if Ethereum (ETH) was a security or a commodity.
This could yet again be the subject of debate during the upcoming hearing in the context of the XRP lawsuit ruling, which categorized the token sale to retail buyers as not securities. On September 29, 2023, the Bureau of Economic Analysis is set to release the Personal Consumption Expenditures (PCE) Price Index data for August.
Ripple will be hosting “The Proper Party” on September 29, 2023 in New York City. It will be a community celebration of freedom from legal troubles thanks to the recent partial victory in the SEC lawsuit. While the event does not have any direct impact on the XRP demand and supply, it could potentially have an effect on trader sentiment. Also, the company may not make any big announcements in the event, it is expected.
Bitcoin Price: Upside Potential
While Bitcoin price closed last week with around 2% downside, it is likely that the latest dip is a corrective phase before recovering the upside momentum. Crypto analyst CrediBULL believes the downward path may be a bear trap before regaining upside direction. He believes the $27,000 level is there to be recovered going forward. “This latest push down looks to be manipulation to the downside prior to expansion to the upside. 27k incoming,” the analyst said.
Last week, a team of Ripple executives led by chief executive officer Brad Garlinghouse met US Congressmen in Washington D.C. to discuss regulatory framework around crypto assets.
#XRP #Proper #Party #Gary #Gensler
SOURCE : https://rexbox.online/rexbox-xrp-proper-party-gary-gensler-hearing-btc-eth-xrp-price/
April IQ Token Report
It’s time for the April edition of #IQ Monthly News which covers IQ token news, partnerships, and more. IQ holders have locked up a record 1 billion IQ, IQ.wiki integrates Lens Protocol’s Lenster, BrainDAO now has 2785 sfrxETH with Frax Ether, and meme tokens pages are trending on IQ.wiki. Keep reading to stay up-to-date with IQ token progress.
Growth
The IQ token saw a volume of over $667 million in April alone across all the exchanges, calculated from CMC. This comes after IQ.wiki upgraded its #ai integration from GPT-3 to #GPT-4 .
Announcements
1 Billion IQ locked with HiIQ
In April, IQ holders locked up a record 1 billion IQ. HiIQ has grown exponentially within the past few months with the implementation of the new tokenomics further incentivizing early adopters with greater IQ incentives.
Back in November 2022, IQ announced the IQ token’s new halvening tokenomics model which triples emissions for HiIQ holders. This model provides higher initial emissions to incentivize early adopters and gradually lowers emissions to ensure long-term sustainability. Most importantly, HiIQ holders will be able to determine IQ.wiki’s course of action in the future by participating in governance.
This news comes at a perfect time as the IQ ecosystem has upgraded from OpenAI's GPT-3 model to the latest GPT-4 model, enhancing IQ.wiki, the world's largest blockchain encyclopedia. With this upgrade, IQ.wiki now uses the most advanced AI technology available. You can watch GPT-4 summarize an in-depth IQ.wiki page on the Ethereum Name Service in seconds.
IQ.wiki integrates Lens Protocol’s Lenster
Lens Protocol’s community of over 100,000 users can now easily share IQ.wiki pages onto Lenster, the leading Web3 social platform on Lens. Anyone reading IQ.wiki can simply click the share button on an IQ.wiki article and directly share the page on Lenster.
Lenster is a composable, decentralized, and permissionless social media web dApp built with Lens Protocol. Lenster was the first Web3 social experience to be built on Lens and functions similarly to Twitter both in layout and execution, with added support for a variety of NFT types. The Lens Protocol is a Web3 social graph on the Polygon Proof-of-Stake blockchain founded by Stani Kulechov of Aave. It is designed to empower creators to own the links between themselves and their community, forming a fully composable, user-owned social graph.
BrainDAO now has 2785 sfrxETH with Frax Ether
Frax Ether is an ETH LSD designed to uniquely leverage the Frax Finance ecosystem and smoothen the Ethereum staking process for a simplified, secure, and DeFi-native way to earn interest on ETH. BrainDAO chose liquid staking with Frax Ether since it offers the highest return and security. This will bring revenue to BrainDAO as all profits generated from Frax Ether validators are distributed to sfrxETH holders like BrainDAO. Frax Ether launched in January 2023, and the BrainDAO treasury now has 2785 sfrxETH which is equivalent to more than $5.3 million as of writing.
IQ.wiki puts out Educational Threads on Twitter
Balaji Srinivasan Thread
In the newest thread of IQ.wiki’s ‘People in Crypto’ series, where we aim to educate people about famous figures in crypto, the team covered Balaji Srinivasan, an angel investor, venture capitalist, and technology entrepreneur. Balaji has been trending on IQ.wiki and is the #1 Bitcoin evangelist.
Shapella Update Thread
In early April, the IQ.wiki covered Ethereum Shapella upgrade. The Shapella Upgrade combined changes to the execution layer (Shanghai) and the consensus layer (Capella) and the Engine API. This thread walks readers through all of the proposals that are part of the Shapella Upgrade and why it is a game-changer.
Memecoins are trending on IQ.wiki
IQ.wiki has seen a surge in the number of memecoin pages being created, with users eager to share information about their favorite memecoin. The number one #memecoin trending on IQ.wiki this week is Wojak which was inspired by the Wojak or Feels Guy meme. Other memecoins that have trended on IQ.wiki include Good Gary #Gensler and Pepe.
About IQ
The IQ token is a cryptocurrency dedicated to building a more intelligent future through artificial intelligence and blockchain technology. The IQ token powers a knowledge ecosystem including applications such as IQ.wiki, the world's largest cryptocurrency and blockchain encyclopedia. IQ.wiki integrates AI for tasks including summarizing wiki articles. The token is governed by BrainDAO which also includes BrainDAO's treasury of digital assets.
Growth
The IQ token saw a volume of over $667 million in April alone across all the exchanges, calculated from CMC. This comes after IQ.wiki upgraded its #ai integration from GPT-3 to #GPT-4 .
Announcements
1 Billion IQ locked with HiIQ
In April, IQ holders locked up a record 1 billion IQ. HiIQ has grown exponentially within the past few months with the implementation of the new tokenomics further incentivizing early adopters with greater IQ incentives.
Back in November 2022, IQ announced the IQ token’s new halvening tokenomics model which triples emissions for HiIQ holders. This model provides higher initial emissions to incentivize early adopters and gradually lowers emissions to ensure long-term sustainability. Most importantly, HiIQ holders will be able to determine IQ.wiki’s course of action in the future by participating in governance.
This news comes at a perfect time as the IQ ecosystem has upgraded from OpenAI's GPT-3 model to the latest GPT-4 model, enhancing IQ.wiki, the world's largest blockchain encyclopedia. With this upgrade, IQ.wiki now uses the most advanced AI technology available. You can watch GPT-4 summarize an in-depth IQ.wiki page on the Ethereum Name Service in seconds.
IQ.wiki integrates Lens Protocol’s Lenster
Lens Protocol’s community of over 100,000 users can now easily share IQ.wiki pages onto Lenster, the leading Web3 social platform on Lens. Anyone reading IQ.wiki can simply click the share button on an IQ.wiki article and directly share the page on Lenster.
Lenster is a composable, decentralized, and permissionless social media web dApp built with Lens Protocol. Lenster was the first Web3 social experience to be built on Lens and functions similarly to Twitter both in layout and execution, with added support for a variety of NFT types. The Lens Protocol is a Web3 social graph on the Polygon Proof-of-Stake blockchain founded by Stani Kulechov of Aave. It is designed to empower creators to own the links between themselves and their community, forming a fully composable, user-owned social graph.
BrainDAO now has 2785 sfrxETH with Frax Ether
Frax Ether is an ETH LSD designed to uniquely leverage the Frax Finance ecosystem and smoothen the Ethereum staking process for a simplified, secure, and DeFi-native way to earn interest on ETH. BrainDAO chose liquid staking with Frax Ether since it offers the highest return and security. This will bring revenue to BrainDAO as all profits generated from Frax Ether validators are distributed to sfrxETH holders like BrainDAO. Frax Ether launched in January 2023, and the BrainDAO treasury now has 2785 sfrxETH which is equivalent to more than $5.3 million as of writing.
IQ.wiki puts out Educational Threads on Twitter
Balaji Srinivasan Thread
In the newest thread of IQ.wiki’s ‘People in Crypto’ series, where we aim to educate people about famous figures in crypto, the team covered Balaji Srinivasan, an angel investor, venture capitalist, and technology entrepreneur. Balaji has been trending on IQ.wiki and is the #1 Bitcoin evangelist.
Shapella Update Thread
In early April, the IQ.wiki covered Ethereum Shapella upgrade. The Shapella Upgrade combined changes to the execution layer (Shanghai) and the consensus layer (Capella) and the Engine API. This thread walks readers through all of the proposals that are part of the Shapella Upgrade and why it is a game-changer.
Memecoins are trending on IQ.wiki
IQ.wiki has seen a surge in the number of memecoin pages being created, with users eager to share information about their favorite memecoin. The number one #memecoin trending on IQ.wiki this week is Wojak which was inspired by the Wojak or Feels Guy meme. Other memecoins that have trended on IQ.wiki include Good Gary #Gensler and Pepe.
About IQ
The IQ token is a cryptocurrency dedicated to building a more intelligent future through artificial intelligence and blockchain technology. The IQ token powers a knowledge ecosystem including applications such as IQ.wiki, the world's largest cryptocurrency and blockchain encyclopedia. IQ.wiki integrates AI for tasks including summarizing wiki articles. The token is governed by BrainDAO which also includes BrainDAO's treasury of digital assets.
Gensler Reaffirms Bitcoin’s Non-Security Status
CryptosHeadlines.com - The Leading Crypto Research Network
SEC Chair Gary Gensler restated his view on Bitcoin, confirming that it does not qualify as a security.
In a hearing held on a Wednesday before the Financial Services Committee, Gary Gensler, the Chair of the Securities and Exchange Commission (SEC), provided clarity on his position regarding Bitcoin. In response to queries from the Republican committee chair Patrick McHenry, Gensler affirmed that Bitcoin does not fall under the category of securities.
Gensler’s Perspectives on Alternative Cryptocurrencies
Expanding on his position, Gensler emphasized that Bitcoin does not satisfy the criteria outlined in the Howey test, underscoring its differentiation from securities. However, he abstained from definitively classifying Bitcoin as a commodity. Gensler has also previously addressed the categorization of cryptocurrencies such as Ethereum (ETH). In an interview with New York Magazine, he suggested that Ethereum might potentially be regarded as a security.
Nevertheless, his reluctance to provide a definitive statement on Ethereum’s status has sparked speculation and debates concerning the legal aspects pertaining to different cryptocurrencies.
In a lighthearted moment, Congressman Ritchie Torres raised an inquiry about transactions involving tokenized Pokémon cards during the hearing. Gensler responded cautiously, expressing the need for additional information to assess whether buying a tokenized Pokémon card on a blockchain could potentially be classified as a security transaction. Nevertheless, he affirmed that the sale of a conventional Pokémon card does not fall under the category of a security transaction.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#CryptoMarket #Bitcoin #CryptoNews #Gensler #GaryGensler
SEC Chair Gary Gensler restated his view on Bitcoin, confirming that it does not qualify as a security.
In a hearing held on a Wednesday before the Financial Services Committee, Gary Gensler, the Chair of the Securities and Exchange Commission (SEC), provided clarity on his position regarding Bitcoin. In response to queries from the Republican committee chair Patrick McHenry, Gensler affirmed that Bitcoin does not fall under the category of securities.
Gensler’s Perspectives on Alternative Cryptocurrencies
Expanding on his position, Gensler emphasized that Bitcoin does not satisfy the criteria outlined in the Howey test, underscoring its differentiation from securities. However, he abstained from definitively classifying Bitcoin as a commodity. Gensler has also previously addressed the categorization of cryptocurrencies such as Ethereum (ETH). In an interview with New York Magazine, he suggested that Ethereum might potentially be regarded as a security.
Nevertheless, his reluctance to provide a definitive statement on Ethereum’s status has sparked speculation and debates concerning the legal aspects pertaining to different cryptocurrencies.
In a lighthearted moment, Congressman Ritchie Torres raised an inquiry about transactions involving tokenized Pokémon cards during the hearing. Gensler responded cautiously, expressing the need for additional information to assess whether buying a tokenized Pokémon card on a blockchain could potentially be classified as a security transaction. Nevertheless, he affirmed that the sale of a conventional Pokémon card does not fall under the category of a security transaction.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#CryptoMarket #Bitcoin #CryptoNews #Gensler #GaryGensler
