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NFT News
Crypto-News-Flash
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SEC Ends Investigation Into OpenSea, A Relief for NFTs
- The U.S. Securities and Exchange Commission (SEC) has concluded its investigation into OpenSea, signaling potential regulatory changes in the NFT space.
- OpenSea has regained dominance in the Ethereum NFT market, now holding 71.5% market share, and experienced a significant increase in daily trade volume and transactions.
- Ending the probe is seen as a positive development for NFT industry players, as classifying NFTs as securities could impose stricter control and hinder innovation.
- The SEC dropping its case against OpenSea and Coinbase suggests a potential shift towards a more open approach in addressing the crypto and digital asset sector.
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Medium
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What is the NFT
- Art, music, videos, virtual real estate, and collectibles can be tokenized as NFTs.
- NFTs allow creators to monetize their work and collectors to own unique digital items.
- The market for NFTs can be volatile and there are concerns about their environmental impact and copyright issues.
- Ongoing discussions are focused on the long-term value of digital assets.
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Bitcoinist
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Bybit Turns To Bitget And Binance For $239 Million ETH Loan Amid Withdrawal Spike
- Bybit, a popular crypto exchange, is reeling from a $1.5 billion hack in digital assets.
- Bybit receives 88,000 ETH (~$239 million) from Binance and Bitget to cover withdrawal requests.
- Authorities link the hack to the North Korean hacking group, Lazarus Group.
- Bybit's CEO assures users that the exchange remains solvent and customers' funds are backed 1:1.
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Cryptopotato
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Binance Pay Transactions Hit $72.4 Billion as Crypto Adoption Accelerates
- The number of Binance Pay users tripled from the previous year, reaching 41.7 million.
- The total transaction volume processed through Binance Pay in 2024 stood at $72.4 billion, a significant increase from $2.5 billion in 2021.
- Stablecoins, particularly Tether (USDT), dominated Binance Pay transactions, accounting for 80% of the total payment volume.
- Binance Pay's expansion aligns with the increasing role of crypto in everyday transactions and the overall growth of the crypto market.
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Bitcoinmagazine
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What are BRC-20 Tokens?
- BRC-20 tokens are an experimental token standard on the Bitcoin blockchain inspired by ERC-20 tokens on Ethereum.
- Introduced by Domo in March 2023, BRC-20 tokens utilize the Bitcoin Ordinals protocol to inscribe data onto satoshis.
- Unlike ERC-20 tokens, BRC-20 tokens do not use smart contracts, simplifying asset tokenization on the Bitcoin network.
- Token deployment involves inscribing token properties onto a satoshi, enabling minting and transfer through Bitcoin transactions.
- Pros of BRC-20 tokens include simplicity in creation and robust security leveraging Bitcoin's features.
- Cons include lack of smart contracts limiting functionality and higher fees during network congestion.
- Practical applications of BRC-20 tokens include decentralized application tokens, tokenized assets, loyalty points systems, and community tokens.
- BRC-20 tokens have faced issues with network congestion and limited interoperability outside the Bitcoin network.
- Runes Protocol, introduced as a newer and more efficient alternative, offers scalability and improved performance for token creation on the Bitcoin blockchain.
- Runes protocol, utilizing Bitcoin's UTXO model and OP_RETURN opcode, provides streamlined token creation and supports the Lightning Network.
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Cryptopotato
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2024 Crypto Report: Bitcoin Stable, Ethereum Declines, Niche Tokens Rally
- The median cryptocurrency investor saw their portfolio grow by $5,482 in 2024.
- SUPER and HYPE tokens delivered the highest unrealized gains, indicating growing interest in niche blockchain projects.
- Bitcoin broke price records and remained the most trusted store of value.
- Coinbase and Crypto.com became the most popular exchanges, surpassing Binance due to regulatory challenges.
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TechJuice
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Bybit Suffers Historic $1.5 Billion Crypto Heist in Largest Exchange Hack
- Bybit, one of the leading cryptocurrency exchanges, experienced a $1.5 billion hack, resulting in the largest crypto heist in history.
- The breach targeted Bybit's cold wallet, leading to the theft of predominantly ether funds, which were then dispersed through various platforms.
- The heist has been associated with North Korea's Lazarus Group, known for sophisticated laundering techniques and previous attacks on the crypto industry.
- Bybit reassured customers by obtaining a bridge loan to cover losses and emphasized the need for stronger cybersecurity and regulations in the digital asset space.
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Livebitcoinnews
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Binance Square Launches Trader Profiles for Smarter Trading
- Binance Square, Binance’s social media platform, has launched Trader Profiles to promote responsible trading and transparency.
- Trader Profiles allow users to showcase portfolios, performance statistics, and Trader Badges, sharing verified trading information with like-minded investors.
- With more than 35 million monthly active users, Binance Square connects cryptocurrency traders and supports deeper connections within the community.
- Trader Profiles provide an overview of a trader's activity, investment strategy, and allow for privacy and control.
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Bitcoinist
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Crypto Victory: SEC Agrees To Drop Enforcement Case Against Coinbase – Details
- The US Securities and Exchange Commission (SEC) plans to end its enforcement case against Coinbase.
- SEC staff agreed in principle to drop the lawsuit against the crypto exchange platform.
- The dismissal of the lawsuit would signify a shift in the US regulatory approach towards the crypto industry.
- Coinbase CLO calls for crypto legislation to prevent misuse of power by regulators and protect consumers.
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TheNewsCrypto
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Upcoming Potential Binance Listings in 2025: The Next Big Crypto Movers
- Several new tokens aiming for Binance listings in 2025 include Pi Network, HYPE, and AI16Z.
- 2025 has seen a surge in investor involvement in the global crypto market.
- Despite price declines, Bitcoin and altcoins experienced gains with high market sentiment.
- Binance remains at the forefront amidst improving regulatory clarity and institutional adoption.
- Confirmed listing on Binance includes KAITO, an AI-powered token revolutionizing Web3 content discovery.
- Pi Network with over 35 million users is gaining community support for a Binance listing.
- Speculated Binance listings include HYPE and AI16Z, highlighting innovative blockchain projects.
- HYPE, a liquidity protocol optimizing DeFi efficiency, backed by Pantera Capital and others, may gain a Binance listing.
- AI16Z aims to decentralize AI model development and is backed by venture capital firms, potentially leading to a Binance listing.
- Concerns of scams and pump-and-dump schemes accompany new listings, emphasizing the need for caution in the crypto market.
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TheNewsCrypto
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Doodles NFT Hits $16M Weekly Volume Following Memecoin Announcement
- Doodles NFT collection achieves $16 million weekly trading volume after announcing $DOODS, a Solana-based meme coin.
- This marks the collection's second-highest trading peak in 2024, demonstrating the trend of Ethereum NFT projects expanding into Solana's memecoin ecosystem.
- The strategic shift towards a dual-chain approach helps NFT projects maintain their collections on Ethereum while leveraging Solana's trading benefits.
- The migration to Solana is driven by practical factors, such as Ethereum's high transaction fees and Solana's established memecoin ecosystem.
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TronWeekly
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360
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SafeMoon CTO Thomas Smith Pleads Guilty in $8B Crypto Fraud Case
- SafeMoon CTO Thomas Smith pleaded guilty to securities fraud conspiracy and wire fraud conspiracy.
- Prosecutors accused SafeMoon executives of misappropriating investor funds for personal use.
- Authorities revealed that SafeMoon leaders falsely claimed liquidity pools were locked.
- Legal proceedings against other executives, including the CEO, are ongoing.
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21 Likes
TronWeekly
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SEC Closes OpenSea Probe, Marking a Win for the NFT Industry
- The SEC has officially closed its investigation into OpenSea, marking a win for the NFT industry.
- OpenSea's SEA token launch remains on the horizon, adding momentum to the NFT market.
- The SEC's dismissal of its lawsuit against Coinbase hints at a potential shift in regulatory stance.
- The closure of the SEC's investigation may signal a turning point for NFTs, offering a more optimistic regulatory outlook.
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Newsbtc
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Bitcoin’s Grip Tightens — CZ Says There’s ‘No Escape’ From Crypto
- Bitcoin's grip tightens as former Binance CEO, Changpeng Zhao, says there's 'no escape' from crypto.
- Several US states are passing legislation to establish a localized version of a BTC reserve and build their crypto portfolio.
- CZ, commenting on the Montana legislation, implies that Bitcoin has become an unavoidable reality and there is no other choice.
- CZ also emphasizes the significance of crypto donations to help individuals during disasters, sharing an example of a BNB donation.
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Livebitcoinnews
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SEC Closes Investigation Into NFT Marketplace OpenSea
- The United States Securities and Exchange Commission (SEC) has concluded its investigation into OpenSea, a well-known NFT marketplace.
- The decision by the SEC signals a shift in crypto regulation, fostering innovation and investor security.
- The SEC's softened stance creates better conditions for NFT development and creation.
- The news boosts confidence in the crypto industry and helps digital asset businesses and investors feel more secure about the marketplace.
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