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#BTC 🌖 Terra Luna Classic’s $1 Dream: Is Chain Upgrade the Catalyst? The #TerraLunaClassic community recently celebrated a successful upgrade to its blockchain, known as Layer-1 chain v2.4.2, as per governance proposal #12090. This upgrade, implemented at block height 17309000 on March 25, included important features like IBC-Hooks for smoother integration of new decentralized applications (dApps), such as Enterprise DAO. Genuine Labs, the developer team, ensured a smooth transition during the hard fork, receiving praise from the community. The upgrade has instilled optimism among Terra Classic's members, with increased security measures and a rise in $LUNC holders to 5.52 million. The community has burned 105 billion LUNC tokens, leaving 5.8T #TerraClassic tokens in circulation. Despite ranking 124 in the market, a recent 35% surge has revived hope for its revitalization plan aiming for $1 per #LUNC. , though still distant from its all-time high of $119 in April 2022. #SHIB

#BTC

🌖 Terra Luna Classic’s $1 Dream: Is Chain Upgrade the Catalyst?

The #TerraLunaClassic community recently celebrated a successful upgrade to its blockchain, known as Layer-1 chain v2.4.2, as per governance proposal #12090. This upgrade, implemented at block height 17309000 on March 25, included important features like IBC-Hooks for smoother integration of new decentralized applications (dApps), such as Enterprise DAO. Genuine Labs, the developer team, ensured a smooth transition during the hard fork, receiving praise from the community.

The upgrade has instilled optimism among Terra Classic's members, with increased security measures and a rise in $LUNC holders to 5.52 million. The community has burned 105 billion LUNC tokens, leaving 5.8T #TerraClassic tokens in circulation. Despite ranking 124 in the market, a recent 35% surge has revived hope for its revitalization plan aiming for $1 per #LUNC. , though still distant from its all-time high of $119 in April 2022.

#SHIB

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Michael Saylor: Senate Wants Bitcoin The passage of a resolution to nullify the SEC's controversial SAB 121 rule has been celebrated as a major legislative victory for the cryptocurrency industry #MicroStrategy co-founder #michaelsaylor has taken to the X social media network to celebrate the cryptocurrency industry's recent Senate win.  "Wall Street wants Bitcoin, the House of Representatives wants Bitcoin, and now the Senate wants Bitcoin," he posted on the X social media network.  Earlier this Thursday, the Senate voted 60 to 38 to kill the controversial "SAB 121" bulletin introduced by the Securities and Exchange Commission (SEC). Senate Majority Leader Chuck Schumer (D-New York) as well as several Democrats joined the Republicans to shoot down the SEC guidance.  The Digital Chamber, the leading blockchain trade association, was "thrilled" to celebrate the passage of the resolution to nullify SAB 121. Compound Labs Robert Leshner described this as "the first of many" legislative wins for the cryptocurrency industry.  The controversial rule requires banks that safeguard #Cryptoassets should record them as a liability on their own balance sheets. Critics argued that it would make it impossible for banks to provide custodial services for digital #assets .  According to Austin Campbell, the founder and managing partner of Zero Knowledge Consulting, the rule, which was unilaterally adopted by the SEC, would possibly damage the rights of crypto holders. "There is no economic rationale for holding capital against assets a firm does not own, and it was clearly done simply to block regulated financial entities from providing custodial services," he said. He further noted that this guidance benefits non-regulated custodians.   As reported by @WISE CRYPTO NEWS , the US House of Representatives voted to shoot down the guidance on May 9.  #GME
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Ripple's Top Lawyer Celebrates SEC's Latest Setback Ripple's Stuart Alderoty has once again highlighted the importance of bipartisan cooperation Stuart Alderoty, Ripple's chief legal officer, has celebrated a recent bipartisan vote in the US Senate to kill an anti-crypto SEC rule that could pose a major threat to regulatory custodial services in the US.  Alderoty claims that the "unauthorized overreach" of Securities and Exchange Commission Chair Gary Gensler will not be tolerated by both parties.  As reported by @WISE CRYPTO NEWS , some of the most influential cryptocurrency luminaries, including MicroStrategy co-founder Michael Saylor, have praised the Senate for voting to nullify the SEC's controversial SAB 121 guidance.  The rule was supposed to force regulated banking institutions to register the cryptocurrency holdings of their customers on their balance sheets. The industry took issue with this rule since it would make it very challenging for banks to offer custodial services. Some critics also noted that it could potentially negatively impact the rights of cryptocurrency owners. The SEC's cryptocurrency-friendly commissioner Hester Peirce also slammed the agency's approach to regulation custodial services for digital assets as "scattershot."  The cryptocurrency industry and banks united in their efforts to repeal the SEC's SAB 121 rule. The banks are against it since it would negatively affect their balance sheets due to crypto's inherent volatility. #gensler , however, has defended the rule, pointing to the fact that the previous 120 SABs were not called into question.  Alderoty, who keeps a close eye on the latest developments on Capitol Hill, has repeatedly stressed the significance of bipartisan cooperation when it comes to cryptocurrency-related bills.  He has also taken note of recent efforts by US lawmakers to pass a much-anticipated #stablecoin bill. Ripple is gearing up to launch its own #Stablecoins , which has already appeared in the SEC's crosshairs.  #GME #BTC
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