Die US-Börsenaufsichtsbehörde SEC will die Kryptobranche „ersticken“, so die Kryptowährungsbörse Coinbase.
Binance to delist OMG, XEM and WAVES; token prices tumble
- Binance announced the delisting of OMG Network, NEM and Waves coins on June 17, 2024.
- The exchange will end support for withdrawals on September 17.
Binance has announced the delisting of four altcoins, news that has seen the said tokens nosedive amid market reaction.
The exchange notified the crypto community of the impending delisting on Monday, June 3, with OMG Network price falling sharply alongside that of the other tokens.
Binance delists XEM, OMG and WAVES
According to Binance, trading support for the four altcoins will cease on June 17, 2024, at 03:00 (UTC). Specifically, the exchange will end support for spot trading pairs for OMG Network, NEM, Waves and Wrapped NXM.
The action against the four cryptocurrencies follows internal reviews that target adherence to industry standards and requirements.
“When a coin or token no longer meets these standards or the industry landscape changes, we conduct a more in-depth review and potentially delist it. Our priority is to ensure the best services and protections for our users while continuing to adapt to evolving market dynamics,” the exchange wrote in the announcement.
Per the notice, reviews involve factors such as team’s commitment to the project, development activity, trading volume and liquidity and network security.
Binance also regularly reviews projects in terms of their smart contract stability, level of public communication and new regulatory requirements among other factors.
Key details
According to the exchange, the trading pairs to be removed include MG/USDT, WAVES/BTC, WAVES/ETH, WAVES/TRY, WAVES/USDT, WNXM/USDT, and XEM/USDT.
Withdrawals will halt on September 17, 2024 at 03:00 (UTC).
Binance has previously announced delistings for tokens such as Monero (XMR), Aragon (ANT) and Multichain (MULTI) based on such due diligence.
OMG, XEM and WAVES tumble
OMG Network, (OMG), Waves (WAVES), NEM (XEM) and Wrapped NXM (WNXM) are all down as the altcoins tumble amid the major announcement from Binance.
According to data from CoinGecko, OMG Network price was down 27% to near $0.50, while NEM traded 30% down at $0.025. Meanwhile, WAVES, which traded at highs of $4.81 in mid-March, was down 27% to around $1.70.
Wrapped NXM slipped nearly 5% after the news to hit $80.75 at the time of writing.
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Notcoin hits new high as Piggy Bankster aims for dominance
- Notcoin surged to a new all-time high above $0.2, with trading volumes spiking on Binance, OKX and Bybit.
- Piggy Bankster (PIGS) is the new memecoin on Solana that’s creating a huge buzz today.
- PIGS is set for a fair launch on June 4, priced at $0.00012.
Notcoin (NOT) began June with a bang, soaring amid a wave of interest across the crypto market.
Today, the Telegram-linked token reached a new all-time high above $0.2 as trading volumes more than doubled. Yet, with Notcoin dominating the trading market, the hot trend among memecoins has investors’ sights set on Piggy Bankster (PIGS).
Here’s why the soon-to-launch Solana memecoin could be the one to watch this week.
Notcoin surges amid new interest in tap-to-earn coin
Notcoin’s entry into the market was as a viral tap-to-earn Web3 application on Telegram. The launch on leading exchanges in mid-May saw its massive community push NOT into the top 100 by market cap.
This week, the Notcoin team announced the project’s quest to shift focus away from being just a mining app. With aspects such as Notcoin Explore, Games and Contests, it’s growth that will provide more value to NOT holders.
It’s an announcement that seems to have provided new impetus for Notcoin price, with today’s 59% spike seeing its market cap rise to nearly $2 billion.
As the strategic shift eyes more for users of the tap-to-earn game, interest in the token has surged. Recently, Notcoin noted it had surpassed Shiba Inu, Bonk and Pepe in on-chain holders.
On June 2, traders positioning for potential gains pushed daily trading volume up by more than 283% to over $2.1 billion. CoinMarketCap data shows NOT outpacing top coins in 24-hour volume on Binance, OKX and Bybit.
Piggy Bankster (PIGS) – the next big memecoin on Solana?
Solana’s recent momentum slowed as Bitcoin and Ethereum pared gains, and as memecoins took the market by storm amid huge events around crypto and the US political landscape.
US President Joe Biden’s vetoing of a crypto bill that would have allowed highly regulated US financial firms to custody Bitcoin and crypto contrasts sharply with former President Donald Trump’s pro-crypto stance. Indeed, Trump has become the first US President to accept Bitcoin Lightning payments for his campaign donations.
This sets the upcoming election as probably the first crypto election, with politics dominating new memecoin sensations like MAGA (TRUMP) and Super Trump (STRUMP).
Amid this, analysts are bullish on Bitcoin, Ethereum and Solana. For Solana, its memecoins ecosystem is currently hot with WIF, BONK and MEW among other. However, the next big thing could be Piggy Bankster (PIGS).
What to know about Piggy Bankster’s tokenomics
PIGS is the new pig-themed memecoin poised to go live via a fair launch this week – on June 4, 2024.
Piggy Bankster will have all 100 million tokens available to the community in a sale priced at $0.00012 per token. The transparency and equitability that a fair launch offers has Piggy Bankster already hailed as a winner ahead of its launch.
As highlighted, Piggy Bankster is set to launch with a full 100 million PIGS as the circulating supply. This gives the project an advantage – not just the community-driven approach, but also that price discovery will follow as the market opens.
Investors likely to have missed Notcoin may find PIGS’ $0.00012 price a lot more attractive as an entry point.
Learn more about Piggy Bankster’s upcoming launch here.
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Binance-Gründer Changpeng Zhao wird vor Haftantritt von Krypto-Community gelobt
Sobald CZ seine viermonatige Haftstrafe abgesessen hat, will der frühere Binance-Chef wieder in der Kryptobranche mitmischen.
Joe Biden has vetoed bill aimed at overturning SEC crypto accounting standards
- Biden vetoes bill targeting SEC crypto rules, citing concerns over regulatory authority.
- Crypto industry criticizes Biden’s decision, calls it setback for innovation and financial freedom.
- The veto raises questions about Biden’s stance on crypto regulation and engagement with industry.
U.S. President Joe Biden has taken a decisive stance in the ongoing debate surrounding cryptocurrency regulation by vetoing the bill that aimed at overturning a Securities and Exchange Commission (SEC) regulation regarding crypto accounting standards.
The regulation in question, known as SAB 121, set specific guidelines for firms holding cryptocurrency assets, requiring them to record these assets as liabilities on their balance sheets.
Joe Biden upholds SEC’s authority over accounting practices
In an official statement dated May 31st, President Biden emphasized the importance of maintaining the SEC’s authority over accounting practices, stating that a reversal of the SEC’s decision could potentially undermine broader regulatory efforts aimed at protecting consumers and investors.
Biden’s veto underscores his administration’s commitment to implementing regulatory guardrails that ensure the safety and stability of financial markets while also acknowledging the potential benefits of crypto-asset innovation.
As previously reported, the bill, which sought to repeal the SEC’s cryptocurrency accounting guidelines, had garnered bipartisan support in both the House and Senate.
However, despite the House passing the measure with a 228-182 vote and the Senate voting 60 to 38 in favor of the repeal, the veto requires a two-thirds majority from both houses to be overturned.
Backlash over Biden’s decision to veto the bill
The decision to veto the bill has sparked immediate backlash from various quarters, particularly within the cryptocurrency industry.
Critics argue that the veto represents a setback for innovation and financial freedom, with some describing it as a “slap in the face” to those advocating for a more flexible regulatory approach.
The Blockchain Association, a prominent crypto advocacy group, expressed disappointment with the administration’s decision, highlighting the bipartisan consensus reached in both chambers of Congress.
Similarly, Cody Carbone, Chief Policy Officer at the Digital Chamber, disparaged the veto, emphasizing its potential chilling effect on innovation within the crypto space.
The veto has also raised concerns within the crypto community regarding the administration’s stance on cryptocurrency regulation.
Despite speculation that the Biden campaign had been engaging with crypto industry stakeholders to adopt a more pro-crypto stance, the veto suggests a different approach.
In response to the veto, Moe Vela, a senior advisor to Unicoin and former senior advisor to Biden, called for a more nuanced discussion on the integration of crypto into the financial system, urging both candidates to articulate their perspectives and plans for the future of crypto regulation.
Sheila Warren, CEO of the Crypto Council, expressed displeasure with the veto, suggesting that publicly stated positions on crypto regulation could be difficult to walk back once articulated.
As the cryptocurrency regulation debate continues in the U.S., all eyes now turn to both houses to see whether they can raise a two-third majority too overturn the president’s veto.
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