Crypto Flipsider News – Aug 4th – Ethereums London Hard Fork, SEC, Cardano, Tencent NFT Platfrom, Google By DailyCoin
Crypto Flipsider News – Aug 4th – Ethereums London Hard Fork, SEC, Cardano, Tencent NFT Platfrom, Google
- Ethereum’s London hard fork is getting closer!
- SEC Chairman Gensler: Most cryptos violate the Securities Act, regulation could increase acceptance.
- Updates: Japan, cFund, Celsius Network.
- China’s Tencent launches an NFT arts platform.
- Google (NASDAQ 🙂 allows ads for regulated crypto market units.
Ethereum’s London Hard Fork is approaching!
The long-awaited ETH network update is to start today between 13:00 UTC and 17:00 UTC and take place in block 12,965,000. The London upgrade is one of the biggest steps towards 2.0, which aims to switch the network from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) consensus mechanism.
The London Hard Fork includes two major upgrades, namely limiting the amount of supply that creates price pressure, as well as lowering ridiculously high gas charges!
- Waiting for Ethereum 2.0 has become similar to looking forward to the arrival of the Messiah. Some people overestimate its influence. Yeah, it’s a big update. However, will it address the core issues facing the industry and accelerate the mass adoption of ETH and crypto in general?
SEC Chairman Gensler: Most cryptos violate the Securities Act, regulation could increase acceptance
SEC chairman Gary Gensler has expressed the lack of investor protection in the crypto space. In his speech at the Aspen Security Forum, he compared it to the Wild West. The regulator said a number of tokens are being offered and sold as unregistered securities that do not comply with U.S. Securities Act and therefore function without government oversight.
“This leaves the prices manipulable. This makes investors vulnerable. ”Gensler concluded.
He also urged the SEC to continue investor protection, considering crypto trading, lending, and DeFi platforms as a priority for legislation.
- Unregulated markets mean a lack of stability and thus a lack of investment, because who wants to risk their money? The SEC implements a core task – protecting investors and ensuring financial stability, which is also a priority for national security.
Cardano updates: Japan, cFund and Celsius Network
- Cardano is finally listed in Japan. Japanese crypto exchange Bitpoint is the first in Japan to contain ADA, the fifth largest digital asset.
- CFund, Cardano’s innovation fund, has invested $ 500,000 in Blockswap’s DeFi app. The application will then have ADA integrated into the platform. The app is called Open Saver and it allows users to bet on green crypto.
- The Celsius Network announced that it would integrate ADA into its system on August 19th. The platform is intended for collateral borrowing and returns. In addition, the platform offers a return of 4.05% exclusively for ADA.
- Eventually we received several messages from Cardano at once. Has the company switched from its Baby Steps approach to a “Capture That Market” strategy?
China’s Tencent launches an NFT arts platform
China’s tech giant Tencent plans to launch a platform that will allow artists to publish and sell their NFT art, music, videos, photos and more. It has already started 3,000 NFTs as self-promotion.
The NFT market has seen incredible growth so far in 2021. The largest NFT marketplace, OpenSea, recently exceeded $ 1 billion in market size.
- Is that irony or hypocrisy? That is the question. Interest in NFTs in China peaked immediately after the country cracked down on the cryptocurrency industry. The communist government has been as silent as a mouse, though that’s probably because it’s a bit busy censoring video games to be “good, clean, and safe.”
Google allows ads for regulated companies in the crypto market
This week, Google’s new Financial Products and Services Policy went into effect. Regulated crypto market units, namely crypto exchanges and wallets, are now allowed to advertise on the services of the engine. On the other hand, ICOs, DeFi trades, and celebrity endorsements remain banned.
Google already banned crypto and ICO ads in 2018. The move was taken to stop crypto scammers and Shillers. Google Ads generated revenue of $ 147 billion last year.
- Marketing is a powerful weapon, so it must be used with caution. Just think of the case of Robinhood (NASDAQ :), whose misleading statements resulted in the suicide of an inexperienced trader.
- Regardless of these new decisions made by Google, those looking to promote themselves will always find a way.
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