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Billionaire Mark Cuban Fears Strict Crypto Regulations By SEC Could Turn Into A Nightmare For Bitcoin

Mark Brennan
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Billionaire Mark Cuban Fears Strict Crypto Regulations By SEC Could Turn Into A Nightmare For Bitcoin

 

Mark Cuban slams the US SEC for using unclear policies to regulate Bitcoin and the crypto industry, a move he says could negatively affect the market.



The US SEC (Securities and Exchange Commission) is known for its role in regulating financial markets, especially the stock market. Now, the federal institution seems to have shifted its gaze to the crypto industry, and the manner in which it’s dealing with the growing market is causing jitters among top businessmen like billionaire Mark Cuban.

Negative sentiments have come to light after SEC announced an investigation into claims of insider trading at Coinbase. Apparently, the former product manager at the exchange and his brother and friend are accused of buying cryptos just in time for the coin’s listing on the exchange. The move by SEC to charge the accused doesn’t seem to argue well with Senator Pat Toomey, who took to Twitter to air his frustrations. The senator bashed SEC for not disclosing its view on the tokens before it launched the enforcement action against the said manager. He feels that the institution should provide details on the tokens it considers securities that fall under its jurisdiction.

“Yesterday’s enforcement action is the perfect example of the SEC having a clear opinion on how and why certain tokens classify as securities. Yet the SEC failed to disclose their view before launching an enforcement action.”

Mark Cuban Chips In

Replying to the senator’s post, Mark Cuban was of the opinion that this was just the tip of the iceberg and that things were headed to the bad side for the crypto market. In his view, the SEC is just trying to keep its lawyers busy and make a case for more funds allocation.

Is SEC Confused?

These issues, coupled with the SEC’s current battle with Ripple over XRP’s status, could be a sign that the SEC isn’t objective in its dealings in the crypto industry. As a matter of fact, Ripple seems to be headed for a clear win.

For years now, various crypto entities have called on SEC and the government to formulate clear regulatory frameworks for the crypto and blockchain industry. Still, the institutions involved don’t seem to be in a hurry to do so.

Granted, this is not the first time Mark Cuban has thrown a jab at SEC. Back in 2014, SEC accused Mark of insider trading. The case went to court, and Mark Cuban won.

Singapore-Based Crypto Exchange Lists Baby Doge Coin (BabyDoge)

Zabi
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Singapore-Based Crypto Exchange Lists Baby Doge Coin (BabyDoge)

 

Singapore-based Cryptocurrency Exchange, Deepcoin added support for Baby DogeCoin (BabyDoge).


Deepcoin, the world’s most innovative crypto asset exchange, announced that it listed Baby Doge Coin with BabyDoge/USDT pair. Deepcoin users can now buy and sell BabyDoge by paying spot trading fees of 0.05%.

Founded in November 2018, Deepcoin provides spot, derivatives, wealth management, DEFI investment, and other comprehensive financial services to its 1 million registered users in nearly 30 countries. The company supports numerous fiat currency deposit methods from around the world to trade more than 100 cryptocurrencies available on the exchange.

The listing on Deepcoin Exchange put no significant impact on the price of BabyDoge. At press time, Baby Doge Coin is trading at the price of $0.000000001291, down -2% over the last day, with a 24-hour trading volume of $3,004,873 ($3M).

Cardano (ADA) Among the Top 10 Cryptos Bought By BSC Whales

Mark Brennan
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Cardano (ADA) Among the Top 10 Cryptos Bought By BSC Whales

Top Binance Smart Chain (BSC) Whales are massively purchasing ADA in preparation for the upcoming Vasil hard fork launch on Cardano mainnet. 


According to data on WhaleStats, Cardano’s ADA wrapped on the Binance Smart Chain is among the top 10 most purchased digital currencies by the top 100 BSC whales in the last 24 hours. 

ADA is currently in tenth place among the top ten most bought digital currencies by top 100 ETH whales. Also, ADA is among the top 10 tokens traded by the 2,000 largest BSC whales. 

“JUST IN: Cardano now on top 10 by trading volume among 2000 biggest BSC whales in the last 24hrs,” WhaleStats tweeted today. 

Growing Adoption of Cardano 

There has been a growing adoption of ADA recently as the community prepares to launch the Vasil upgrade on Cardano mainnet. 

A significant percentage of Cardano acquisition is mainly carried out by whale investors, who have shown resilience despite the fall in crypto prices. 

As reported by TheCryptoBasic earlier this month, Cardano whales added a whopping 79.1 million ADA to their portfolio in 30 days. Addresses holding between 10,000 and 100,000 ADA were responsible for the massive accumulation. 

Whales Anticipating Vasil Mainnet Launch

The growing adoption of ADA shows that whales are getting ready for Vasil’s main net launch. It is expected that the value of ADA will spike when Vasil is launched on Cardano mainnet, and investors are eagerly making the necessary preparations to take advantage of the upcoming rally. 

As Cardano’s development team stated, Input Output Global (IOG), Vasil will be launched on mainnet by the end of this month. The upgrade is tipped to enhance the overall performance of Cardano, especially speed, scalability, smart contract optimization, etc. 

The IOG is always focused on rolling out significant upgrades for Cardano. Since Cardano was launched, the network has had zero downtime for years, running effectively without any technical glitch. Despite the milestone, the IOG is still ensuring things remain that way as new updates to keep Cardano secure are being developed.

Last week, Cardano ranked ahead of all cryptocurrency projects in development activities this month.

Namibia’s First Bitcoin ATM Goes Live; Users Can Buy Bitcoin And Ethereum

Lele Jima
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Namibia’s First Bitcoin ATM Goes Live; Users Can Buy Bitcoin And Ethereum

As the mainstream adoption of digital currency continues to spike, the first crypto ATM has launched in Namibia. 



The crypto ATM, dubbed the Crypto Kiosk, was launched at Maerua Mall in Windhoek, Namibia. 

With the newly launched Crypto Kiosk, Namibian residents will be able to convert the two world’s largest cryptocurrencies – Bitcoin (BTC) and Ethereum (ETH) to the Namibian Dollar. 

Users can also use the service to purchase the two cryptocurrency assets using the country’s fiat, local news outlet AllAfrica reported today. 

Crypto Kiosk Safety Measures

According to the report, Crypto Kiosk is developed in full compliance with international and national laws to combat every form of financial fraud. 

As part of measures to curtail criminal activities, Crypto Kiosks users will be required to provide selected personal information, including Namibian ID Numbers and postal addresses, before using the service. The user’s selfie will be taken by the machine during every transaction. 

Meanwhile, users transacting above N$5,000 will be required to submit details of their residential address and a copy of their identity document. 

Commenting on the development, Aminah Nauyoma-Ndeulita from Crypto Kiosk Investments said the team had installed CCTV at the location for safety and security purposes. 

“Our kiosks allow them to essentially self-bank through a digital wallet on their phone by turning their cash into cryptocurrency, which can be used to transfer money internationally, pay bills, or invest in other cryptocurrency investment channels, Nauyoma-Ndeulita added. 

He added that Crypto Kiosk Investments would expand the service across various parts of the country to service more cryptocurrency enthusiasts. 

Furthermore, users will need to own a digital currency wallet before using Crypto Kiosk. Supported crypto wallets include Coinbase, Exodus, Binance, or any trusted wallet exchange wallet. 

Crypto ATM Installation Growth

Crypto ATMs’ installations have been growing rapidly in recent times. In the first ten days of June, over 800 cryptocurrency ATMs were installed across various parts of the world. 

At the moment, the total number of crypto ATMs globally is 38,740, and they are strategically installed in 77 countries, data on CryptoATMRadar shows.  

840 Million Shiba Inu Burnt In A Week, 110 Million in 24 Hours: Report

Zabi
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840 Million Shiba Inu Burnt In A Week, 110 Million in 24 Hours: Report

Shiba Inu’s weekly burn drops below 1 Billion.



The Most Powerful Community in the crypto space fails to burn over 1 billion Shiba Inu tokens in a week. Over 110.28 Million SHIB burnt within the Past 24 Hours and 840.76 Million in the Past 7 Days.

Shibaburn.com recently reports that the Shiba Inu Community has permanently removed 840,765,314 (840.76M) SHIB tokens from circulation forever in the last seven days through 107 separate transactions.

Top SHIB Burn Contributors of the Week:

Travis Johnson’s SHIB Super Store and 1Cent Token make it to the list of the prominent SHIB Burn contributors of the Week.

Travis Johnson’s SHIB Super Store organized its Weekly Burn Event on Sunday. SHIB Super Store sent a total of 46,843,100 (46.84M) SHIB to a dead wallet using SHIB Burn Portal.

On the other hand, 1Cent Token organized its Weekly Burn Event on July 18th, 2022 (Monday). 1Cent Token has incinerated a total of 16,931,926 (16.93M) SHIB in one significant transaction. At the same time, the project carried out another transaction to burn 50 Bone ShibaSwap (BONE), the governance token of the Shiba Inu ecosystem.

Past 24-Hour Burn:

Besides weekly burns, a total number of 110,289,311 (110.28M) SHIB tokens have been sent to the “inferno” addresses by Shiba Inu Community through 16 separate transactions in the last 24 hours, Shibburn.com reports.

Top Ten Altcoins Under $1, Cardano, Ripple, Sihba Inu, And More

Mark Brennan
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Top Ten Altcoins Under $1, Cardano, Ripple, Sihba Inu, And More

 

Here are the best cryptocurrencies to purchase for under one dollar during the current bear market.

In light of the recent downturn in the cryptocurrency market, I have compiled a quick summary of what I consider to be the top three under-dollar cryptocurrencies to invest in for 2022.


1) Ripple (XRP)

By market capitalization, Ripple is the seventh-largest cryptocurrency. The altcoin’s popularity as a top 10 crypto asset has not waned despite the many debates surrounding it. XRP is now trading at a discount of more than 6000 percent, making it an excellent long-term investment opportunity.

2) Cardano (ADA)

Our list of the top penny cryptocurrencies to invest in 2022 includes Cardano since it is one of the cheapest. With a market capitalization in excess of $15 billion, the biggest smart contract network and one of the most dangerous Ethereum rivals is still selling at a discount. Because I believe that ADA will see a growth rate of more than 5,000% during the next five years, I think that purchasing it now is an excellent investment.

3) Tron (TRX)

Tron’s vast rally might be aided by a variety of reasons. To put it another way, the popularity it’s getting among fans as well as investors is a big part of what makes this token so special. Don’t forget its incredible integration of NFTs, Web3, DeFi, and dApps. As a result, I include Tron in my list of the best under $1 cryptocurrencies to purchase for 2022 and expect it to rise by more than 5000 percent and break over $3 in the next five years.

4) Shiba Inu (SHIB)

Shiba Inu, the memecoin that holds the position of second biggest in the world, presents an excellent chance for long-term investment. The SHIB cryptocurrency now ranks fifteenth in terms of market capitalization, and I anticipate that it will have a significant uptick in price over the next couple of years.

5) Stellar Lumens (XLM)

Stellar Lumens, much like Ripple, is an ambitious cryptocurrency project that aims to transform the global financial sector. It is one of the greatest cryptocurrencies to invest in if your budget is less than one dollar. Within the next ten years, I anticipate that the value of XLM will have increased by more than 500,000 percent and have broken above $50.

6) Decentraland (MANA)

My list of the best cryptocurrencies to purchase for less than $1 must include Decentraland (MANA). The market valuation of the Metaverse token is now about $8 billion, making it a cryptocurrency with significant scale and widespread use. 1.82 billion tokens are now in circulation, which is almost one hundred times more than Bitcoin’s total supply.

7) Dogecoin (DOGE)

It’s a great moment to get in on Dogecoin, the world’s largest memecoin, which is trading around $0.14 at the time of this writing. It’s impossible to see the price of the famed token falling much farther than it already has; therefore, the only way to go is up. In a couple of years, I estimate a 3000 percent growth.

8) Basic Attention Token (BAT)

The Basic Attention Token (BAT) is now trading at $0.646, a far cry from its all-time high of $1.92 set in November of last year. The Basic Attention Token is a fantastic long-term investment since some analysts believe it will rise to more than $3 by 2025..

9) Algorand (ALGO)

Algorand is one of the best under $1 cryptos to purchase in 2022 because the token is on a mission to accelerate the conjunction between decentralized & traditional finance. In the next five to 10 years, I estimate a 25000 percent increase.

10) Polygon (Matic)

Polygon aims to improve Ethereum’s efficiency by decreasing gas fees while increasing transaction speeds as it is one of the best layer-2 scaling solutions for Ethereum. Matic is currently trading at $0.81, and without a doubt, it is one of the best altcoins to hold for the long term.

Bonus: Cronos (CRO)

Aside from the fact that it is brand new, one of the strongest reasons to invest in CRO now is the enormous potential for future value increases. In the next five years, I see the token rising by as much as 10000 percent to a value of $10.

Disclaimer: The info inside the article is for only informational purposes. Please do your complete research before investing in any crypto: Read the full Disclaimer here.

Two Leading Crypto Exchanges, Bybit and BitWell to List Floki Inu (FLOKI)

Zabi
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0
Two Leading Crypto Exchanges, Bybit and BitWell to List Floki Inu (FLOKI)

 

Floki Inu is not stepping behind Shiba Inu or baby doge.


Singapore-based leading cryptocurrency exchanges, Bybit and BitWell, announced the listing of the canine-themed meme cryptocurrency Floki Inu (FLOKI).

Bybit to List FLOKI on July 26th, 2022:

Bybit, the cryptocurrency derivatives exchange with a wide range of advanced trading tools, announced that they would list Floki Inu on July 26th, 2022. However, the deposit feature for FLOKI already went live on the exchange.

To celebrate the listing of Floki Inu, Bybit prepared two special events with a total prize pool of 7,100,000,000 (7.1B) FLOKI for its users.

Event 1: Deposit to Earn from the 3,100,000,000 (3.1B) FLOKI Prize Pool

The first event is scheduled to start on July 25th, 2022, and end on August 8th, 2022. Through this event, any user who deposits 20 million FLOKI into their wallets will earn a bonus of 3 million FLOKI. Rewards would be available on a first-come, first-served basis.

Event 2: Trade to Earn From the 4,000,000,000 (4B) FLOKI Prize Pool

The second event is scheduled to start on July 26th, 2022, and will end on August 9th, 2022. Through this event, the users must make a spot trade of at least 20,000,000 (20M) FLOKI to get a share of the 4,000,000,000 FLOKI prize pool.

Headquartered in Singapore, Bybit exchange was founded in 2018. The exchange is providing its crypto trading services all across the globe except in service-restricted countries that include: The U.S, Quebec (Canada), Singapore, Cuba, Crimea, Sevastopol, Iran, Syria, and North Korea, Sudan, and Mainland China. Bybit has over 5 million registered users who can now trade over 100 crypto assets on the platform. The trading volume on the exchange often reaches over $10 billion in 24 hours.

BitWell to List FLOKI on July 25th, 2022:

At the same time, another Singapore-based cryptocurrency exchange BitWell announced that it would list FLOKI in the innovation zone on July 25th, 2022, with the FLOKI-M/USDT pair.

As per details, the exchange has opened deposit and withdrawal functions for both BEP20-FLOKI and ERC20-FLOKI.

Launched in 2020, BitWell is one of the leading trading platforms through which users across the globe could easily buy, sell and store more than 200 crypto assets. The global exchange reaches over $500 million in trade volume in 24 hours.

Polygon Faces Backlash As Polygon’s zkEVM is Ethereum Virtual Machine (EVM) Compatible, Not EVM-Equivalent

Mark Brennan
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Polygon Faces Backlash As Polygon’s zkEVM is Ethereum Virtual Machine (EVM) Compatible, Not EVM-Equivalent

 

Polygon has been dishonest about its status as an Ethereum Virtual Machine (EVM)-equivalent; in reality, their zkEVM is an EVM-compatible system.


 

As reported by The Crypto Basic Polygon zkEVM (zero-knowledge Ethereum virtual machine) was launched on July 20th. It is the first supposedly Ethereum-equivalent scaling solution that works seamlessly with all existing smart contracts, developer tools, and wallets that were launched only a few days ago. It employs strong encryption known as zero-knowledge proofs.

There was some speculation that Polygon had the best zkEVM due to them being 100 percent equivalent to Ethereum code. However, it appears that the founder is subtly sliding back on that point, which makes it clear that the people at Polygon have been spreading misinformation and engaging in false advertising.

Recent events have made it abundantly evident that the Polygon zkEVM will, as an alternative, be compatible with all current Ethereum apps and will replicate the Ethereum Virtual Machine at the op-code level, despite the fact that it will not be equal to these applications. 

Solidity, Ethereum’s programming language, will soon be accessible to developers, removing a significant barrier to entry. As a result, developers will be able to begin their projects. In addition, current Ethereum software, such as wallets like MetaMask and development environments like Hardhat, will be compatible with Polygon zkEVM when it is released later this year.

Reddit user u/mybed54 says, “Polygon lied about being EVM-equivalent, their zkEVM is actually EVM-compatible.”

Polygon, formerly known as Matic Network, is a system for interoperability and scalability used to create blockchains that are compatible with Ethereum. Polygon SDK, a modular and adaptable framework that facilitates the construction of a wide variety of decentralized apps (dApps), serves as the platform’s primary component.

zkEVM was first teased by Polygon at EthCC Paris in July 2021. The company claims that it is meant to integrate easily with all current smart contracts, developer tools, and wallets while reducing user friction by eliminating the need for any code change or re-implementation.

Ethereum Founder Vitalik Buterin Says Lovers Of Proof-of-Work Are Always Welcome To Migrate To Classic ETH Chain

Mark Brennan
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Ethereum Founder Vitalik Buterin Says Lovers Of Proof-of-Work Are Always Welcome To Migrate To Classic ETH Chain

Buterin says lovers of PoW can always move to Ethereum Classic.


Vitalik Buterin, in a speech at the EthCC event in Paris on July 21, as the Ethereum migration to Proof-of-Stake (PoS) inches closer, said it is perfectly fine for lovers of Proof-of-Work (PoW) to migrate to other blockchains, suggesting the Ethereum Classic chain in particular.

“It’s a very welcoming community and I think they’ll definitely welcome Proof-of-Work fans,” the programmer said, talking about the Ethereum Classic community. “It’s not even a joke. If you like Proof-of-Work, you should go use Ethereum Classic. It’s a totally fine chain.”

Ethereum Classic is the legacy Ethereum chain. A hotly debated hard fork in 2016 saw Ethereum split from the Classic chain. Notably, both chains share a lot of similarities in terms of programmability.

Ethereum’s migration to PoS would mean Ethereum Classic becomes the largest programmable PoW blockchain. While Ethereum surged by over 60% in the last week, Ethereum Classic largely outperformed it. The native token for the legacy chain surged by a whopping 100%, from about $13 to $26. As a result, its market cap surged nearly 50%, reaching over $3 billion.

It is worth noting that during his speech, Buterin also talked about some of the benefits of Ethereum’s upcoming move to PoS popularly called merge. According to Buterin, with sharding, the network would see a significant boost in throughput and a decline in gas fees. Speaking on his vision for Ethereum in the future, the programmer noted that the blockchain should, over time, become more dependable and resistant to change.

Buterin said more radical changes would be left to the Layer 2 community. The programmer concludes by noting that the future outlook of the blockchain will largely depend on community members, not just core developers.

At the time of writing, Ethereum is trading at the $1,543 price point. It is down 3.29% in the last 24 hours but up 3.69% in the last seven days. On the other hand, Ethereum Classic is currently trading at the $24.63 price point. It is down 4.92% in the last 24 hours but up 7.88% in the last seven days.

Ethereum’s merge is expected on September 19.

Shiba Inu Born Recently Ranks Ahead of Ethereum, Ripple, Solana, Polygon in Number of Twitter Followers 

Lele Jima
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0
Shiba Inu Born Recently Ranks Ahead of Ethereum, Ripple, Solana, Polygon in Number of Twitter Followers 

The official Twitter account of Shiba Inu (SHIB) has been growing rapidly in less than two years after it was created. 


Per data on the microblogging platform, Shiba Inu’s Twitter account, which was created in February 2021, has attracted over three million followers. Thus, making it rank as the fourth-biggest cryptocurrency by Twitter followers. 

At the time of writing, Shiba Inu has a total of 3,426,940 (3.42 million) followers. Interestingly, Shiba Inu sits ahead of Ethereum (ETH) in the number of Twitter followers ranking. 

Although the Ethereum team created its official Twitter account in January 2014, the account has so far attracted a total of 2,704,499 (2.7 million) followers. 

Based on the data, Shiba Inu has more Twitter followers than Ethereum, representing a total of 722,441. 

It is noteworthy that Shiba Inu is still behind meme-based coin Dogecoin (DOGE), Bitcoin (BTC), and Binance Coin (BNB), in the rankings of top cryptocurrencies by Twitter followers. 

Aside from Ethereum, Shiba Inu currently sits ahead of Ripple (XRP), Crotone (CRO), Polygon (MATC), Solana (SOL), etc. 

Massive Twitter Presence

The development indicates that Shiba Inu has a good presence on Twitter, which would help it trend easily when a new initiative goes live. 

The efforts of key SHIB supporters have not gone unnoticed in the growth of Shiba Inu’s Twitter followers. Most of these influencers have continued to ensure the cryptocurrency trends on the microblogging platform, especially when a new SHIB-related product is unveiled. 

Aside from the massive promotion Shiba Inu enjoys from enthusiasts, the cryptocurrency has shown the world that it can give investors massive profit within a short time.  

The value of Shiba Inu has skyrocketed massively since it went live in August 2020, up over 200,000x, according to Coingecko data.  

It is not surprising to see the cryptocurrency attract millions of followers in less than two years, as these Twitter users want to stay informed about the latest Shiba Inu developments. 

This year alone, Shiba Inu has ranked severally as the most talked about digital currency on Twitter, which stems from its growing number of followers.  

 

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