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Bitcoin (BTC/USD) shed some recent gains early in the Asian session as the pair was given around the 37987 area following the latest upside advances that strengthened around the 34758.64 area.

Recently, Chainlink was the subject of controversy in the crypto space after unannounced changes were made to its multi-sig wallet. Despite this, there has been a surge of activity on the network. Meanwhile, Litecoin has hit a roadblock in its recovery while the Everlodge presale continues to gather momentum

Crypto exchange Binance has set up a dedicated Polish entity that will comply with Belgian regulations to cater to its Belgian clients. Belgians To Use Binance Poland After facing regulatory roadblocks, Binance has cracked the code on how to continue serving its Belgian clients. The leading cryptocurrency exchange has recently unveiled its latest entity, which will serve such clients while complying with Belgian regulatory guidelines. In a blog announcement released on Monday, the team revealed that it will be using its Polish arm to cater to Belgian clients. The team wrote, “We are pleased to announce that Binance Poland sp. z o.o. is now the entity that provides Binance services for Belgian residents. By doing this, Binance ensures that it complies with its regulatory obligations and can continue to provide services to Belgian users.” FSMA Ordered Operations Halt The move to refocus a part of the firm’s Poland arm for Belgian users was taken after significant pushback from the country’s financial services regulatory. Like regulators in several other countries, in June 2023, Belgium’s Financial Services and Markets Authority (FSMA) ordered the company to halt all digital asset services being provided in the country. The FSMA said, "Binance is offering and providing exchange services in Belgium between virtual currencies and legal currencies, as well as custody wallet services, from countries that are not members of the European Economic Area…The FSMA has therefore ordered Binance to cease, with immediate effect, offering or providing any and all such services in Belgium." New KYC For Registered Users To tackle this matter and maintain regulatory compliance, the service provider is redirecting its Belgian customers to the Polish branch, where it is a registered virtual assets service provider (VASP). The Belgian customers will need to agree to a new Terms of Use for Binance Poland to be able to access the trading platform once again. Registered users might need to provide further KYC documents to meet a new regulatory checklist, which will be communicated to the affected customers in due time. Binance’s Regulatory Troubles Belgium is just one of the many countries that are concerned about Binance and its regulatory compliance. The crypto agency is already under tremendous fire from the U.S. Securities and Exchange Commission (SEC) that has launched a lawsuit against it in a bid to protect U.S. customer funds. The Department of Justice (DOJ) has also pursued legal actions against the crypto exchange, claiming that it has been supporting sanctioned banks in Russia. However, it is clear that the firm is eager to appease regulatory bodies, as it has recently imposed strict restrictions on peer-to-peer trading for Russian users and is considering exiting the market entirely. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Decentralized Identifiers (DIDs) possess immense potential to reshape the future landscape of the internet, ushering in a revolutionary approach to verifying our digital identities. The path to achieving this transformation remains ambiguous as we witness the emergence of Web3, a paradigm shift from platform-centric to user-centric networking. The crucial aspect of a user-centric network lies in users defining their identities and determining the information they wish to share with others. After years of unwavering dedication, the MetaBlox team has released a breakthrough protocol that uses DIDs to provide a decentralized groundwork for creating a user-centric network. The team is diligently working to build the foundation for a web3 user-centric network that can support web3 native apps. The MetaBlox Network mobile app represents a major step toward this lofty goal. With this software, users may take the first necessary step toward gaining access to a Free Privacy Protected WiFi Network by registering a DID and automatically uploading it to the blockchain and, in the process, earn mPoints that can be used on the further development of the network. The platform has a lot of benefits that make it stand out. First and foremost, the team believes that the most compelling aspect of MetaBlox is that it is a user-centric network supported by a rewarding system for its users and builders. MetaBlox hopes to model itself after the prosperous Web 2.0 period, during which prominent corporations gave away their services for free to demonstrate the efficacy of their monetization schemes. In Web 3.0, MetaBlox seeks to replicate this prosperity with a significant distinction. Instead of profits accruing solely to private entities, MetaBlox positions itself as a decentralized solution, enabling users and network maintainers to reap the rewards. Unlike the Helium Network, which employs LORA technology, MetaBlox operates as a WiFi Network, affording the bandwidth necessary to accommodate many users, thus substantially expanding monetization opportunities for all stakeholders involved. Powering the User-Oriented Web3: MetaBlox's OpenRoaming Initiative and Decentralized Connectivity MetaBlox's decentralized OpenRoaming WiFi Network made great strides toward creating a user-oriented Web3. Several major Web3 investment businesses and organizations contributed over $2 million to the initiative. The OpenRoaming Network expanded the worldwide WiFi network by deploying hundreds of MetaBlox Miners as blockchain nodes, allowing for secure, password-free, automated connections using Decentralized Identifiers (DIDs). To create an OpenRoaming network with over a million access points, MetaBlox collaborated with the Wireless Broadband Alliance (WBA). The WBA Wireless Global Congress also saw a successful demonstration of their technology. Users may now create their own WiFi OpenRoaming profiles and have access to Web3 capabilities with the newly released software. Notably, MetaBlox teamed up with other initiatives such as Harmony, Caldance, Memolabs, and Deeper Network to accomplish its goals. MetaBlox Network's Blockchain Integration for DeFi, GameFi, and NFTs MetaBlox Network uses blockchain technology to improve the quality of its products and services significantly. Because of Blockchain technology, users' hotspot routers may double as crypto miners, earning them tokens in exchange for giving WiFi access. With this decentralized deployment approach, MetaBlox Network can steadily increase its worldwide presence and reach as an incentive for network development. In addition, combining the MetaBlox Network with blockchain technology unleashes many novel possibilities. Decentralized finance (DeFi) platforms, game finance (GameFi) ecosystems, and NFT markets may all be accessed confidentially and safely by users. Individuals may make money with digital assets by participating in farming and staking activities on DeFi networks. At the same time, the system provides unhindered entry to the increasing universe of GameFi and Play-to-Earn games, with strong security provided by blockchain-held credentials in place of the more archaic passwords. MetaBlox Network was developed in response to the rapidly growing NFT sector, and it provides users with simple access to NFT markets and wallets by use of their DIDs. The firm has established its collection of utility-based NFTs, seen on major platforms like OpenSea, as evidence of its dedication to the blockchain ecosystem. MetaBlox Network aims to offer a genuinely user-centric experience that adapts to the new digital environment by integrating Web3, the Metaverse, 5G rollout, DeFi, and DID-based technologies. MetaBlox's $MBLX Token and Its Role in Decentralized Network Development MetaBlox is hard at work creating a user-focused, open, and free system for anyone who wants to use it. To encourage the development of a native Web3 network, which is in accordance with this goal, the $MBLX token has been introduced. Businesses that want to sell goods or provide services inside the MetaBlox ecosystem are the primary target users of the $MBLX token. These companies actively contribute to developing decentralized ownership inside the next generation of wireless networks by earning and using $MBLX tokens. The $MBLX token's main benefit over competing tokens is that it was made with Web3 users' insatiable curiosity about the platform's features in mind. These customers can take advantage of all the Web3 ecosystem offers once they adopt $MBLX. MetaBlox's Founding Members and Their Remarkable Technological Achievements The first MetaBlox team mostly comprises employees from the leading organizations that make up the alliance's founding members, which are located in North America and Asia. These businesses focus on developing and implementing state-of-the-art technologies, including blockchain, IoT, Telco, AI, and financial services. The alliance members range from large, publicly traded corporations to small, innovative startups, but they all have one thing in common: a desire to build a Web3 network that puts users' wants and needs first. The founding coalition has made great progress and accomplished outstanding feats during the previous four years. They collaborated with the Canadian federal government on the first blockchain program, among other pioneering endeavors. Further distinguishing themselves, they were the first group to combine blockchain technology with eSIM and Bluetooth chips. It's worth noting that the alliance members are active contributors to the Decentralized ID Foundation. This shows their dedication to spreading the use of decentralized identification systems. WiGig is a broadband version of WiFi, and the alliance members are among the few businesses in the world that have access to this technology. Their proficiency with WiGig technology enables them to provide reliable and fast wireless network options. Their work in the development of AI is another significant achievement of the original alliance members. They are pioneers in AI edge computing, having designed and produced one of the earliest system-on-a-chip (SOC) devices. This technological advancement provides high-performance and smart computing capabilities at the network's periphery, allowing for instantaneous data processing and analysis. Members of the alliance have made significant investments in several high-profile initiatives throughout the decentralized finance (DeFi), gaming finance (GameFi), and non-fungible token (NFT) spaces, demonstrating their commitment to the development of these industries beyond just technological means. Investing in promising startups like 1inch and Axie Infinity demonstrates their dedication to fostering growth and development in the nascent blockchain industry. Final Thoughts The advent of Decentralized Identifiers (DIDs) has the potential to reshape the future of the internet by revolutionizing the way we verify our digital identities. As Web3 emerges, shifting from platform-centric to user-centric networking, the MetaBlox team has made remarkable progress in developing a protocol that leverages DIDs to establish a decentralized foundation for a user-centric network. Their commitment to building a web3 native network that supports user-centric applications is evident in the MetaBlox Network mobile app. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

BlackRock’s recent application to start a Bitcoin ETF has raised hopes that the SEC would soon approve an instrument seen as key to crypto’s growth. But a range of market watchers contacted by CoinDesk said several roadblocks still lie ahead.

‘The Future is Now Film’ has been enlightening its audience over the past 5 years showcasing the amazing feats that blockchain technology has endured and overcome. Even in such a short time, it’s now clear just how revolutionary cryptocurrencies and blockchain technology have come out to be. Starting in the 1990’s with the internet of information, slowly moving into the Internet of Things throughout the early 2010’s, we’re now witnessing the era of the Internet of Value. This is a concept that is not only unique, with everyone having access to a growing digital market, but also one that offers a fair chance to create and store money in ways never before seen. In many countries that didn’t have access to a central banking system, let alone broadband due to corruption and other factors, we are now seeing communities prosper thanks to the introduction of crypto banking systems and blockchain technology integrated within their infrastructure. Africa and the Future of Crypto Probably one of the most prevalent examples of blockchain being successfully integrated into a region’s infrastructure would relate to Sandi Bitenc –an individual at the forefront of change within Africa. Sandi is the founder of 3air, a telecom and blockchain company whose mission is to give access to the internet even to the most underserved communities. In Sierra Leone, 3air has already built two base stations capable of serving around 90% of the city, finally enabling access to broadband for thousands of people. 3air also provides the use of its cryptocurrency token as a means to pay and get paid for redistributing its unique broadband connectivity within its ecosystem, allowing people in Sierra Leone to embark further in crypto mass adoption. Africa is the largest adopter of cryptocurrency, largely thanks to the underlying need for such a technology. Many banks throughout Africa simply didn’t have the structure or resources to hold dollar reserves, the typical international currency for trade, meaning it was a useless tender when trading as most citizens just didn’t have access to it. Nearly all countries hold their reserves in foreign banks which are subject to laws out of their control. We have seen Africa torn apart for centuries with natural resources being drained, purposely being deprived of basic educational and technological needs which could have easily been shared, drastically improving the quality of life. Let's take a look at some of the innovators who are already injecting this technology into Africa and beyond. TheFutureIsNowFIlm – Queen Diambi Queen Diambi of the Bakwa Luntu tribe of Central Kasaï in the historic Kingdom of Luba (Congo) is making headlines with Africa and their adoption of cryptocurrency. She is travelling the world and spreading the word in the pursuit of making Africa great again. Queen Diambi is driven by the goal of bringing African technology and sciences to the level that they once were in the distant past, where the African nation was much more advanced than traditional history books would deem to say. TheFutureIsNowFilm –Revoland Game Already making waves in both the educational and financial sectors, Jimmy Zhao first introduced Revoland to Africa as a growing market. ChainXGame was responsible for teaching users in Ethiopia about gaming but under a Play-2-Earn model. This meant that individuals were able to earn crypto while playing and learning the fundamentals about GameFi as a future means for their economic well being, let’s remember the Axie Infinity and the Philippines use case. Cultivating this kind of access for Africans is fundamental in moving into a fairer financial community where everyone can create value, together. TheFutureIsNowFilm – Ikigai Ventures Ikigai Ventures are all about supporting companies who can benefit all of us – companies who are striving for positive social change and a good ESG strategy. As Eman Pulis puts it, if you love what you do and it rewards you well, while being great for society, you have found your ikigai, a Japanese word that cannot be translated to English. Through AIBC Summit which also belongs to Eman, the man who once named himself “Just an events guy” to now a full fledged Web3 start up fund, has now created access to incredible deal flow in the industry. TheFutureIsNowFilm – Oz Living Devoted to financial freedom, Oz Living is providing services for individuals and their families to gain full control over their assets while also helping them reduce taxes. Their mission being a world where people live life on their own terms. The Oz eco-zone is currently being pioneered with the permission of the Philippines Government that is allowing Jin Gonzalez, the founder, to create a portable and tax-free zone for its citizens who wish to relocate, gain citizenship and experience living in the world of Oz. TheFutureIsNowFilm – Acta Finance Acta Finance ecosystem is looking to combine new and already existing centralised passive-earning principles and bring them on-chain. Christof Waton considers this really a great example of out with the old and in with the new as the company rewards their growing ecosystem creating a cross-platform and friendly community for all to experience the power of DeFi. Web3 Shareholders Web3 revolutionises the way we interact with the internet. Web2, the current incarnation of our internet, and its websites are typically controlled via a central entity meaning, the company that owns that site decides where one’s data is stored, what they can actively do with your data while also taking responsibility for preventing data breaches and hacks. In Web3, every user is a shareholder building communities, not businesses. The Internet of Value works towards educating and rewarding those who wish to build the foundations for the new digital world. People are tired of a broken system that shows failure every other decade as seen with the most recent USD inflation rates. Africa is by far the largest adopter of crypto and is a leading example of how to start implementing the use of blockchain technology into a countries ecosystem while Dubai is the world leader in education on the blockchain as well as a host to many prestigious events in the field focusing on the MENA region’s development and beyond. AIBC Summit Eurasia The private screening and film premiere was held at AIBC Summit Eurasia in Dubai March 2023 at the Awards Gala Dinner organised by Eman Pulis and SiGMA Group. The film starred Queen Diambi of Congo, Nick Spanos from "Banking on Bitcoin'', Ivan on Tech, Eman Pulis from SiGMA & Ikigai Ventures, Sandi Bitenc of 3air, Jin Gonzalez of Oz Living, Christof Waton of ACTA Finance, Jimmy Zhao of Revoland and even a cameo of Akon, the world renowned celebrity singer and artist who is also creating Web3 ripples in Africa with his Akoin Foundation. The Gala Dinner and Awards show has become an industry staple since the inception of AIBC back in Malta 2018, then known as the Malta Blockchain Summit, bringing together professionals from all continents. The AIBC Gala in its 5 year history has awarded prominent decentralised futurists like Roger Ver, Brock Pierce & Bobby Lee to name a few. Having #TheFutureisNowFilm premiere at this event in its 2023 reiteration marked The Future is Now DAO's full move and relocation to Dubai as well as a chance for the crème de la crème community of Web3 to get acquainted with this film series which has been covering Bitcoin's disruption across the world. As a matter of fact the 5th episode of TFINFILM, which is the film’s Twitter handle, was the first AIBC Summit in 2018 established by Eman Pulis & SiGMA Group, which back then was branded as the Malta Blockchain Summit and held in Portomaso, Malta. That episode features the late John McAfee, the founder of McAfee anti-virus and the scandalous yet powerful figure in the world of decentralisation. Miguel Francis-Santiago, the film's creator & host, also the Founder of TFIN DAO, confirmed that its time for the platform to go global and has secured a partnership with a 30 year VP of Distribution veteran from Hollywood who has led distribution in giants like Vivendi Universal, Paramount & Hulu. Francis-Santiago believes this partnership is key to having 'The Future is Now Film' finally take on platforms like Netflix & Amazon Prime. Final Thoughts It’s time to get excited about Web3 and the blockchain. Users finally have the opportunity not just to build their own future but contribute to the future being built around them. This trend is becoming even more apparent as we begin to observe the social shift away from centralization and more into the world of a decentralised and equally balanced networks of value creation and knowledge. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

According to trading firm QCP Capital, BlackRock’s Bitcoin spot ETF is unlikely in the near term, thanks to SEC Chair Gary Gensler’s attitude towards cryptocurrencies. The United States Securities and Exchange Commission has taken an increasingly hostile stance against the crypto ecosystem under Gensler. BlackRock Spot ETF’s SEC Headache There have been several applications for spot Bitcoin Exchange Traded Funds (ETFs) in recent times. However, all have been rejected by the regulator that is responsible for approving Exchange Traded Funds, the Securities and Exchange Commission (SEC). BlackRock, the world’s largest asset manager, is the latest to apply for a Bitcoin spot ETF. While there is optimism that BlackRock’s spot Bitcoin ETF application could be the first to get approval, an analysis by trading firm QCP Capital has dampened that optimism. According to QCP Capital’s assessment, a spot Bitcoin ETF, whether BlackRock’s or any other, is not likely in the near future primarily due to Securities and Exchange Commission Chair Gary Gensler and his harsh attitude toward cryptocurrencies. QCP added that while institutional involvement and interest in Bitcoin was bound to increase, the SEC’s current makeup means that it is unlikely that spot ETFs would get the green light. BlackRock had filed its spot ETF earlier during the month, with a filing by the Nasdaq stock exchange revealing that Coinbase Custody Trust Company would be the custodian of the fund’s Bitcoin holdings, while the Bank of New York Mellon would be the custodian of the fund’s fiat currency. A Hurdle Called Gensler The picture is further complicated by current Securities and Exchange Commission Chair Gary Gensler, who has taken a hostile stance against cryptocurrencies in general. Under his leadership, the SEC has initiated several lawsuits against major cryptocurrency exchanges. These include Binance, the world’s largest cryptocurrency exchange, and Coinbase. QCP Capital, in its assessment, wrote, “However, with Gensler as head of the SEC, we are not confident of the actual ETF approval happening in the near term. Nevertheless, as we’ve continually maintained, there is a huge place for institutional BTC and ETH in the asset management world, and over the next months and years, we will see further steps in that direction.” QCP Capital’s observation is interesting, especially as it was highlighted that BlackRock had received just one rejection out of a total of 576 prior applications. Grayscale Bitcoin Trust Rebounds As a result of the knock-on effects of the BlackRock spot Bitcoin ETF has reflected in Bitcoin’s (BTC) price performance and beyond. The Grayscale Bitcoin Trust (GBTC), having seen a considerable rebound after trading nearly 50% below BTC/USD, has continued to see an upswing as it makes up lost ground. According to data sourced from CoinGlass, Grayscale Bitcoin Trust’s discount to BTC spot (discount to net asset value) reached its smallest level of 2023 at 33.45%. According to QCP, the Grayscale Bitcoin Trust has seen its sharpest recovery since late 2020. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The Blockchain Association has filed a Freedom of Information Act (FOIA) request with the U.S. Securities and Exchange Commission (SEC), with an inquiry into the regulator's interactions with Prometheum, a relatively lesser-known cryptocurrency exchange that has recently garnered significant attention. Prometheum's co-CEO Aaron Kaplan was recently invited to testify before Congress, a rare occurrence for an executive from a relatively obscure company in a nascent industry. During the session, Kaplan voiced his support for the SEC's existing regulatory framework for cryptocurrency exchanges, while casting criticism on a significant portion of the industry. His statements have sparked intense discussions within the industry, and have elicited skepticism from some quarters. Possible Inconsistencies: Prometheum's Relationship with the SEC Adding to the intrigue surrounding Prometheum's operations is a revelation that the company paid over $1.5 million in sales commissions to a Chinese-affiliated entity, which carries a less-than-stellar regulatory track record. This has raised concerns within the Blockchain Association, leading it to further investigate the company's regulatory dealings. The criticisms are mainly centered on the fact that, despite being approved as a SPBD, Prometheum faces a considerable challenge in terms of regulatory compliance, and, for its end, the capacity to do so. The company's trading platform will not be able to facilitate the trading of any tokens until the projects behind those tokens have registered with the SEC. As it stands, there is no clear pathway for such registration under the existing SEC regime. This highlights a glaring contradiction in Prometheum's claims of offering a regulatory compliant platform for digital asset securities.The skepticism is well-founded, with several red flags raising questions about Prometheum's operations. The company reportedly paid in excess of $1.5 million in sales commissions to a Chinese-affiliated entity, which carries a dubious regulatory record. Such practices would typically invite scrutiny, but they appear to have been overlooked in Prometheum's case. These findings are the result of diligent work by the Blockchain Association, which continues to investigate the company's actions and interactions with the SEC. Further, Prometheum's claims of being a compliant path were brought into question during Kaplan's congressional hearing and an interview with journalist Laura Shin. It was suggested that Kaplan misinterpreted the legalities surrounding the crypto industry, thereby misrepresenting his company's position. This was reflected in the words of Representative Mike Flood, who dismissed Prometheum's assertions as unfounded. Regulatory Concessions Despite its status as a SPBD, Prometheum's Alternative Trading System (ATS) faces a considerable regulatory hurdle. The platform will be unable to trade any tokens until those tokens' creators have first registered with the SEC. This presents a roadblock, given the lack of a clear path to registration under the current SEC regime—a reality at odds with Prometheum's proclamations of offering a regulated platform for digital asset securities. Prometheum's unusual trajectory underscores the broader struggle within the crypto industry to navigate the complex and rapidly evolving regulatory environment. It highlights the critical need for greater transparency and a well-defined regulatory framework that can keep pace with innovation in the digital asset space. Prometheum has been under scrutiny since its co-CEO, Aaron Kaplan, testified before Congress and made statements supporting the SEC's regulatory approach towards crypto exchanges, while criticizing much of the crypto industry. Prometheum claims to be a broker-dealer approved by the Financial Industry Regulatory Authority as an alternative trading system. Current Tensions In U.S. Crypto Regulation Prometheum's position comes at a time when the crypto industry has been expressing concerns over what they perceive to be an antagonistic regulatory environment in the U.S., especially in the wake of recent lawsuits filed by the SEC against major exchanges like Coinbase and Binance. Prometheum plans to list regulated cryptocurrencies. However, this has been met with criticism. Rodrigo Seira, special counsel at Paradigm, pointed out that the SEC's stance is that most cryptocurrencies are unregistered securities, and therefore cannot be traded even on regulated exchanges. In response to a question during the congressional hearing from Congressman Mike Flood about whether Prometheum lists bitcoin or ether, Kaplan confirmed that the platform does not list either of these. Kaplan's statement seems to contradict the idea that no additional legislation is needed, as argued by Flood. Prometheum had previously announced plans to support digital asset securities, including Flow, Filecoin, The Graph, Compound, and Celo. The company has yet to provide a public disclosure on the matter. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The battle for the ideal metaverse platform enters top gear, with Meta and Apple leading the quest to create the perfect augmented reality experience despite a few roadblocks.

According to court filings published on Thursday, Crypto Consortium Celsius has won the bid to acquire bankrupt crypto lender Celsius Network. The Fahrenheit consortium beat fellow bidder NovaWulf, with the Blockchain Recovery Investment Consortium shortlisted as a backup. Fahrenheit’s Successful Bid According to court filings, Celsius Network’s assets were previously valued at $2 billion. Fahrenheit’s winning consortium is backed by Arrington Capital, mining company US Bitcoin Corp, Steven Kokinos, Ravi Kaza, and Proof Group. With the bid secured, the consortium will acquire Celsius’s staked cryptocurrencies, along with its institutional loan portfolio, mining unit, and additional alternative investments. Additionally, the consortium must pay a deposit of $10 million within three days to clinch the deal. Fahrenheit will also be required to provide the management team, capital, and technology to establish and operate the new regulatorily compliant public company. The deal will also see the newly formed company receive a significant amount of liquid cryptocurrency. This amount is speculated to be between $450 and $500 million. US Bitcoin Corp will also lead the construction of numerous Bitcoin mining facilities, including a 100-megawatt plant. In an announcement, Alan Carr and David Barse, members of the Special Committee of the Board, stated, “We are very pleased that our competitive auction process produced a positive result for customers, including, most prominently, hundreds of millions of dollars in lower management fee savings and increased liquid cryptocurrency distributions to Celsius’ customers. We appreciate the robust interest that the Celsius platform has received from competing bidders and look forward to working with Fahrenheit to expedite the restructuring and distribute recoveries to creditors.” They further added, “The dynamic engagement in our auction provided us with excellent options for our exit from chapter 11. We are grateful for the collaboration of the Committee, and with our path now set, we are looking forward to enabling our customers to move forward from this process.” Regulatory Approval Awaited While the bid has been accepted by Celsius and a committee of its creditors, it still requires regulatory approval before it can be finalized. Martin Glenn, the Bankruptcy Court Judge, had already warned of regulatory roadblocks that could hamper the acquisition of Celsius, similar to how it had scuppered a similar deal. For context, the Judge was referring to the agreement between Binance US and Voyager. After Federal officials opposed the deal, Binance US had to terminate its purchase of bankrupt crypto lender Voyager’s $1 billion in assets. Binance cited an uncertain and hostile regulatory climate for scuppering the deal. Celsius and BRIC Celsius had filed for Chapter 11 bankruptcy in July 2022 after it emerged that the lender had a $1.2 billion hole in its balance sheet. Initially, digital asset investment firm Novawulf was announced as the winning bidder but eventually lost out. However, Celsius also announced that it had secured a backup bid from the Blockchain Recovery Investment Consortium (BRIC). The backup would act as a contingency plan should there be any hiccups. Celsius announced the backup bid on its Twitter handle, stating, “Earlier today, the Celsius auction concluded, and Fahrenheit was selected as the winning bid. The BRIC bid was selected as the backup bid. The Committee appreciates the efforts of Celsius and all bidders for their efforts, which generated significant value for Celsius users. The Committee will share more info a lot about the winning bid and backup bid soon.” In the event of BRIC having to step in, it would be required to establish a publicly traded mining business, giving Celsius creditors complete ownership of equity interests and a potential management contract with GlobalXDigital. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Researchers at Meta AI may have developed a way to get around the “tokenization” problem with GPT models.

Ledger’s latest seed phase recovery idea has not sat well with the community. Members have even taken to social media to express their displeasure with the proposal. Let’s find out more about the matter and other noteworthy events that happened in crypto this week. Bitcoin USDT-issuer Tether has announced that it will use a portion of its profits and purchase Bitcoin in an effort to shore up its stablecoin reserves. Ethereum Embattled crypto lending firm Celsius is wasting no time in removing its stash of staked ETH (stETH) tokens from the liquid staking platform Lido. DeFi Premier decentralized exchange platform Uniswap is set to launch on Polkadot's Moonbeam parachain, with the integrations tabled through its decentralized governance platform. Altcoins Touted as digital silver to Bitcoin’s gold, Litecoin has suddenly awakened, putting on nearly 20% in 4 days. Technology Ledger has come under stinging criticism from its community over its latest seed phrase recovery idea, with members taking to social media to voice their disapproval. DeFi platform Yield App has formed strategic ties with emerging fintech firm Volt to enhance access and revolutionize crypto engagement. Business Britain's most valuable fintech company, Revolut, could face disappointment as the Bank of England plans to reject its application for a banking license. Hong Kong-based Hashkey Group, a prominent player in the cryptocurrency investment landscape, is embarking on an ambitious funding drive for a valuation of $1 billion. Bankrupt crypto exchange FTX and its sister entity Alameda Research have sued their former executives Sam Bankman-Fried, Gary Wang, and Nishad Singh. The third iteration of the Voyager bankruptcy plan has finally been approved by the court. According to the terms, affected customers can expect to recover up to 35% of their claims. The Indian cryptocurrency industry has petitioned the government and the RBI to restore its access to the hugely popular UPI for cryptocurrency-related services and activities. Ripple has acquired one of the most well-known crypto custodians, Metaco, for $250 million. BlockFi has announced that it plans to liquidate its crypto lending platform to pay back creditors. Gibraltar-based Xapo Bank is forging ahead with expanding support for different types of digital assets. OpenAI CEO Sam Altman’s Worldcoin project has reportedly secured $100 million in fresh funding. Worldcoin is Altman’s planned iris-scanning cryptocurrency. Premier crypto exchange Binance recently announced its shift towards automation with the introduction of Trading Bots. Regulation The New York Attorney General’s office has slapped a $4.3 million fine on the crypto exchange Coin Cafe due to its allegedly outrageous fee structure. In an apparent hardening of its stance against crypto, Pakistan’s government has stated that it would ban cryptocurrency services operational in the country and would never legalize crypto trading. The SEC faced another roadblock in its Ripple lawsuit as a judge ruled against its motion to block the controversial Hinman documents from being made public. The UK Treasury Committee released a report compelling the government to regulate retail crypto trading not as financial assets but as gambling instruments. On Tuesday, EU states voted in favor of MiCA, the world’s first comprehensive set of rules regulating crypto assets. The SEC has responded to Coinbase’s request for clarity regarding crypto regulation and refused to entertain the exchange’s demands. G7 committee members recently met in Niigata, Japan, to discuss global financial implications for CBDCs and crypto regulation ahead of the annual G7 summit, Following a legal dispute, the SEC has revised its fine against LBRY from $22 million to just over $111,000. The director of the DOJ’s National Cryptocurrency Enforcement Team (NCET) said the US is stepping up scrutiny of crypto exchanges. The Reserve Bank of Zimbabwe’s first gold-backed cryptocurrency sale has been a resounding success after selling around 14 billion Zimbabwe dollars’ worth of gold-backed tokens. Digital asset firm Bakkt has delisted 25 out of the 36 tokens on its recently acquired Apex Crypto platform. Web3 Horizon Blockchain Games and Polygon Labs have announced a strategic partnership designed to revolutionize web3 infrastructure. Coinbase Cloud, the crypto exchange's cloud services arm, recently announced a partnership with Chainlink Network to expand its presence in the decentralized sphere. Security Developers of a decentralized exchange based on Arbitrum called Swaprum have drained $3 million worth of ETH from the protocol in what looks to be an apparent rug pull or exit scam. LayerZero Labs and Immunefi have announced their collaboration to launch an unprecedented $15 million bug bounty program. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Polygon Miden founder Bobbin Threadbare reveals exclusive details about Polygon’s most innovative ZK-rollup yet.