Schlagwort: crypto business

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Binance Brazil is being investigated for suspected pyramid schemes

  • Binance has been under fire from regulators in the United States, Australia, the Netherlands, and now Brazil.
  • Binance.US and its legal team have, however, alleged that the SEC issued misleading statements in the lawsuit.
  • Besides pyramid schemes, Binance is also being investigated for helping customers get around a restriction on crypto derivatives investments in Brazil.

On June 21, Brazilian Deputy Alfredo Gaspar called for Guilherme Haddad, the head of Binance Brazil, to appear before the legislative arm of the Brazilian government as part of an investigation into possible pyramid schemes in the country.

The Parliamentary Commission of Inquiry (CPI) is expected to decide whether to allow or deny Gaspar’s request of having Haddad appear before Parliament, on June 27. Depending on the results of the vote, Haddad might be required to appear before the Brazilian Chamber of Deputies.

Gaspar’s request to parliament read:

“We can deduce that Binance is entirely imbricated with the motivation of this CPI and it becomes fundamental to understand its performance in the country, its relationship with B Fintech (its official representative), as well as its connection with companies that are judicially liable for harming Brazilian consumers.”

International regulatory pressure mounts on Binance

Brazil is calling for investigations into Binance as the biggest cryptocurrency exchange in the world battles increasing international regulatory pressure. Regulators in the United States, Australia, the Netherlands, and now Brazil have all unleashed their wrath on Binance.

According to Gaspar, Binance assisted Brazilian pyramid schemes by transferring assets on March 11, 2023, when “the So Paulo Justice blocked R$ 500 thousand reais in Binance for a suspected pyramid.” He emphasized the significance of comprehending Binance’s activities, its connection to B Fintech, and any potential ties to businesses currently involved in legal disputes that harm consumers in Brazil.

Brazilian regulatory authorities claimed that Binance is under intense regulatory scrutiny worldwide as a result of “the company’s failure to respond to the regulation imposed by each country,” which is why they are proposing the summons.

The Federal Prosecutor’s Office and Federal Police are also looking into Binance’s operations in Brazil for possibly helping customers get around a restriction on cryptocurrency derivatives investments.

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Atriv partners with Flare to bring AI-powered NFTs to the ecosystem

  • Atriv is an AI-powered digital art platform that allows for creation of NFTs from text.
  • Flare is a data-focused L1 blockchain that offers a highly scalable and interoperable network.
  • The partnership will see Atriv tap into Flare’s features to bring its no-code prompt generated NFTs to the Flare ecosystem.

Atriv, an artificial intelligence (AI) powered digital art platform and Flare, a data-focused Layer 1 blockchain network, have partnered in an initiative aimed at building out the Flare NFT ecosystem.

The partnership will see Atriv bring its AI-generated NFTs to Flare, and will tap into the Layer 1 blockchain’s native interoperability to simplify the creation and issuance of NFTs.

Artists and businesses to easily create and trade AI-powered NFTs

The AI revolution continues to disrupt all manner of industries across the world, and its adoption in the world of NFTs is behind the collaboration between Atriv and Flare. 

In their announcement today, the two platforms said their integration will make it easy for artists, businesses and collectors looking to create, issue, and trade AI-powered NFTs, the platforms said in a press release shared with CoinJournal on Thursday.

Specifically, the partnership will see Atriv bring its unique, no-code prompt-generating NFTs to the Flare network. Users will enter text into a generator and get unique AI-powered NFTs. 

“Our collaboration with Flare is a strategic decision driven by our shared vision of harnessing cutting-edge technology to reshape how digital art is created and shared,” Abel Sebhatu, CEO & co-founder of Atriv, noted in a statement.

He added that Atriv will benefit from Flare’s data-centric L1 blockchain, tapping into its scalability and security to bring the future of NFTs to the community. This will happen via simplified integration and creation, leveraging cross-chain capabilities to allow users mint NFTs on Flare and payment on another chain like Bitcoin, Litecoin and Dogecoin.

Atriv offers a dynamic marketplace where ecosystem players can trade AI-powered digital art.  The platform’s other features include a white-label collection, IPFS decentralised storage and customisable storefront pages.

The features are critical to the digital art creation ecosystem, making it easier for participants to tokenize and trade NFTs amid rising adoption.

The post Atriv partners with Flare to bring AI-powered NFTs to the ecosystem appeared first on CoinJournal.

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As Pepe crypto price surges, beware of a bull trap

  • Pepe crypto price has almost doubled in the past few days.

  • This rally is in line with that of other cryptocurrency market.

  • The bullish trend could be part of a bull trap.

Pepe price has jumped sharply in the past few days, making it one of the best-performing cryptocurrencies in the market. It soared to a high of $0.0000016, the highest point since May this year. In all, the meme coin has jumped by more than 85% from the lowest level this month.

Why Pepe price is soaring

Pepe price has jumped because of the rising greed in the crypto market. The crypto fear and greed index has jumped to the greed area of 60 as most cryptocurrencies have jumped. Bitcoin has crossed the important resistance point at $30,000 while a sea of green has dominated the market.

The strong performance is mostly because of the ongoing TradFi trends in the industry. For example, on Thursday, it was reported that Credit Agricole had acquired a crypto custody license in France. This is notable since this is the third biggest bank in Europe by assets.

The announcement came a few days after Deutsche Bank applied for custody services in Germany. Also, companies like Blackrock, WisdomTree, and Invesco have applied for their spot Bitcoin ETFs with the SEC.

These events have nothing to do with altcoins like Pepe. Instead, they have helped to ameliorate the recent regulatory challenges in the United States. As you recall, the SEC filed major charges against Coinbase and Binance, the biggest firms in the industry.

This could be a bull trap

Pepe price has also jumped because of the Fear of Missing Out, popularly known as FOMO. In most periods, this FOMO tends to be a bull trap that leads to substantial losses to the holders. Just ask investors who bought GameStop, ContextLogic, and Bed Bath and Beyond shares. Most of them have lost substantial sums of money.

Therefore, I suspect that Pepe price will retreat soon as investors start taking profits. As you can see in the chart above, the volume has started to diverge from the price. After peaking on Wednesday, the volume has continued falling. 

If this view is correct, Pepe will likely drop to the key support at $0.00000012, the highest point on June 9th of this year. This price is about 25% below the current level.

How to buy Pepe

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AltSignals presale raises $1.0182 million as AI gold rush gathers momentum

  • ASI token price is set to rise to $0.01875 as the presale goes into stage 2.
  • At press time, stage 1 of the presale was 94.26 sold out.
  • So far, the presale has raised $1.56 million in Beta and Stage 1.

The artificial intelligence (AI) gold rush has caught up with new AI-based crypto projects including AltSignals, which is working on an AI Ecosystem called ActualizeAI, powered by a cryptocurrency called ASI.

AltSignals is currently conducting a presale for the ASI token, which is just about to enter into the third stage (Stage 2) once the current stage (Stage 1) sells out. So far, about 75.9 million ASI tokens have been sold through the token presale showing that investors are confident about the new AI project.

A pool of green as AI cryptocurrencies surge

While there has been a growing concern about the impact of artificial intelligence on human lives, AI-based cryptocurrencies seem to enjoy the boost they are getting from the AI gold rush.

With proper regulation, the concerns will be well taken care of, and AI will have nothing to hold it back. The European Union has already set the standard after it passed the pioneering EU AI Act, which will most likely act as a benchmark for other countries including the US whose lawmakers are pushing for AI regulations.

The AI hype combined with the positive crypto market sentiment has pushed the prices of a majority of AI-based cryptocurrencies to new highs and helped lessen the effects of the macroeconomics that have often pushed crypto prices down. At press time, the Artificial Intelligence (AI) cryptocurrencies market cap had risen by 8.5% to $2.67 Billion in the last 24 hours as the overall crypto market enjoyed the second consecutive bullish day.

The top three AI cryptocurrencies by market cap – Render (RNDR), SingularityNET (AGIX), Fetch.ai (FET), Ocean Protocol (OCEAN), Akash Network (AKT), and OriginTrail (TRAC) – have seen their prices rise by 27%, 29.7%, and 37.9%, 24.7%, 42.1% and 31.8% respectively according to data from Coingecko.

AltSignalS’ ASI token future

Large AI companies like OpenAI have accelerated their lobbying to change how different nations view AI. That combined with the implementation of the right AI regulations will not only create a booming industry for the artificial intelligence industry but also for AI-based cryptocurrencies like the ASI.

AI-based cryptocurrencies already do not have much to fear since most of the regulatory push is geared towards generative AI tools like ChatGPT, which has gained a lot of traffic since it was launched last year. This means that the cryptocurrency projects will not be gravely affected by the ongoing AI regulation push.

AltSignals’ ActualizeAI ecosystem will give AltSignals an edge in providing AI-driven trading solutions, leveraging cutting-edge technology to empower traders and investors. As such, the platform currently offers investors the opportunity to invest in its new ASI cryptocurrency, which will give holders access to the AI ecosystem among other benefits stipulated on AltSignals’ official website.

Early ASI investors are already counting progress seeing that the token’s price has already appreciated from its starting price of $0.012 to its current price of $0.015 and is expected to jump to $0.01875 in the next stage. according to the roadmap in the AltSignals whitepaper, by the time the ASI presale comes to an end, the token is expected to have appreciated by 89.5% to $0.02274. 

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Floki Inu price prediction as Chancer token sale gains steam

  • Floki Inu price has soared in the past few days.

  • It has joined other popular cryptocurrencies like BTC and Jasmy.

  • Chancer’s pre-sale has raised over $309k in about a week.

Crypto investors are getting greedy as the focus shifts to the so-called TradFi continues. The crypto fear and greed index has jumped to the greed zone of 55 while the CNN Money index has moved to the extreme greed area of 75. Most cryptocurrencies have jumped, with Pepe, Bitcoin Cash, and Floki Inu soaring by over 20% in the past 24 hours. At the same time, Chancer has raised over $309k from investors in its token sale.

Why Floki Inu is rising

Floki Inu is a popular meme coin that aims to have utility in the blockchain industry. In the past few years, the developers have launched the Floki ecosystem, which is made up of a metaverse platform known as Valhalla, a DeFi product known as FlokiFi, and NFT collections.

The main reason why Floki Inu price is soaring is the ongoing move towards traditional finance, popularly known as TradFi. This is a trend where large traditional companies have started to embrace cryptocurrencies, Bitcoin in particular.

The trend started last week when Blackrock applied for the iShares Bitcoin Trust. It hopes that the SEC will give it the approval to launch the first spot Bitcoin ETF. Such an ETF will make it possible for investors to allocate funds into BTC without holding the real thing.

Shortly thereafter, other financial services companies also filed for their spot in Bitcoin ETF. They are well-known companies like Invesco and WisdomTree. 

The other important crypto news was the decision by Deutsche Bank to file for a crypto custody license in Germany. 

To be clear. The impact of these tradfi news are negligible to most cryptocurrencies since all these companies have focused on Bitcoin. As such, Floki Inu and other altcoins have jumped because the news is helping to ameliorate the recent regulatory pain. 

Therefore, there is a likelihood that the Floki Inu price will continue rising in the near term. If this happens, the next level to watch will be at $0.00035.

Chancer token sale gains steam

Another important news is that Chancer has managed to raise over $309k in its highly successful token sale. In it, the developers have sold over 30.9 million $CHANCER tokens. In the first stage of the sale, the token is selling for just 0.01 BUSD, which is equivalent to $0.01.

For starters, Chancer is a new company that aims to disrupt the sports betting industry using the blockchain technology. This is a multi-billion dollar company that is used by millions of people every day.

Chancer’s unique proposition is that it introduces the concept of social betting and predictive. It means that people can create their betting markets that are not covered by traditional companies. For example, you can create a predictive market for a local city council election or an award ceremony. 

Chancer’s other features are the ability to empower token holders by letting them vote on key issues and create their markets. There will also be a live-streaming feature in the platform.

The $CHANCER token, which is based on the BSC Blockchain, will be used to power the ecosystem. In the future, when it becomes fully decentralized, the token will be used for voting and staking purposes.

Is $CHANCER a good buy?

Investing in pre-sale tokens is always a high-risk and high-reward thing to do. It is high risk since the token can crash to zero when it is launched. It is also highly illiquid in its initial days, meaning that it is difficult to exit. 

However, in other situations, investing in pre-sale tokens can lead to substantial profits. We recently saw this in tokens like Pepe and Milady. Therefore, we recommend that you first read the Chancer white paper and then allocate some of your funds to it. You should only invest funds that you are ready to lose.

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