Animoca Brands to Focus on Markets Outside U.S. after SEC Labels Sand Cryptocurrency an Unregistered Security

According to a report by South China Morning Post (SCMP), Hong Kong-based blockchain giant, Animoca Brands, has announced its plans to shift its focus to markets outside the U.S. This strategic move comes in the wake of the U.S. Securities and Exchange Commission’s (SEC) decision to label the firm’s Sand cryptocurrency token as an unregistered security, amid recent lawsuits against major crypto exchanges Binance and Coinbase Global.

Sand is the native crypto token used by Animoca’s metaverse platform, The Sandbox. It was among more than a dozen tokens explicitly labeled as securities by the SEC, a list that also includes Solana, Polygon, and Mana – the token used in the Decentraland virtual world. This decision by the SEC has elevated the legal risks for any company involved in selling these tokens.

Despite the regulatory challenges in the U.S., Animoca Brands remains optimistic about its global operations. The company’s co-founder and chairman, Yat Siu, commented in an email, “Animoca Brands is not focused on a single territory but operates globally. The SEC focuses on the U.S., so that should not have an impact on Animoca Brands in broader markets where Sand is widely available and accepted, including in more progressive jurisdictions like Hong Kong and Japan.”

Siu also disclosed that Animoca has already initiated measures to emphasize more on other markets in response to the recent “blockchain-hostile” approach observed in the U.S. This strategic shift represents Animoca’s adaptive response to the evolving regulatory landscape and is reflective of a broader industry trend towards seeking more cryptocurrency-friendly jurisdictions.


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Enjin Launches NFT-Focused Blockchain, Migrates Native Token and Merges Efinity Token

Singapore-based Enjin, a pioneer in the blockchain ecosystem for Non-Fungible Tokens (NFTs) and digital assets, has launched the Enjin Blockchain. The innovative new blockchain, dedicated to NFTs, is built on the open-source Substrate framework, distinguishing it from others by integrating NFT-related transactions directly into its foundational code, rather than relying on smart contracts.

Incorporating NFT transactions at the protocol level enhances scalability and prepares projects for future-proofed digital assets. Notably, Enjin Blockchain features like Fuel Tanks and Discrete Accounts simplify end-user interaction by subsidizing transaction fees and eliminating the need for specific wallet software.

In the proposed restructuring, Enjin Coin (ENJ) will transition from the Ethereum network to become the native token of the Enjin Blockchain’s Mainnet on a 1:1 basis. Furthermore, Efinity Token (EFI) is suggested to merge with ENJ, further promoting decentralized governance and participation.

Efinity, the Polkadot parachain, has successfully forked to the Enjin Blockchain, now known as the Efinity Matrixchain. The Matrixchain preserves all data from Efinity, ensuring seamless user transition and data integrity. A flagship Matrixchain, the Enjin Matrixchain, is due to launch, utilizing ENJ as the native currency and primary platform for NFT creation.

Enjin plans to deploy additional Matrixchains tailored to meet the specific needs of enterprise and large communities, extending the opportunities for digital ownership and interaction.

Enjin’s existing community projects will utilize the Enjin Blockchain, inviting all members to participate. The Enjin App Layer, essential for low-cost NFT integration, will be readily available for developers to incorporate into their projects.

The Enjin Blockchain and the Enjin Matrixchain will be secured by Substrate’s robust Proof-of-Stake system, powered by ENJ, promising maximum security, reliability, and sustainability.

Since its inception in 2009, Enjin has remained at the forefront of blockchain innovation, continually seeking to revolutionize the landscape of digital items and NFTs. With its dedicated community and cutting-edge technology, Enjin is poised to shape the future of digital ownership and blockchain technology.


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Binance Pay and Credencial Payments Join Forces to Enable Real-Time Crypto Payments in Latin America

In a strategic alliance aiming to revolutionize the digital payment landscape, Binance Pay, the digital payment platform of the world’s largest crypto exchange, Binance, has partnered with Latin American (LATAM) company Credencial Payments. This collaboration will enable merchants to accept Binance Pay as a new payment method, thereby significantly expanding the use of cryptocurrency in the region.

Credencial Payments will allow customers to pay with cryptocurrency in real time, both physically and via e-commerce platforms, facilitating the conversion to local currency. This alliance comes amidst the growing prominence of digital assets and the increasing adoption of cryptocurrency worldwide. It presents a significant step towards making cryptocurrency more accessible and usable in everyday life.

“Binance Pay partnering with Credencial Payments is a concrete action towards mainstreaming cryptocurrency use,” said Maximiliano Hinz, Binance’s Director for LATAM Southern Cone. “Payments are one of the first use cases of cryptocurrencies, and we believe there is considerable room for growth in their adoption. Thanks to this partnership, users will be able to use Binance Pay to pay with the cryptocurrency of their choice. This is a further step in our ongoing efforts to promote the global adoption of cryptocurrencies in a tangible way, bringing them closer to everyday life.”

The partnership between Binance Pay and Credencial Payments could further bolster the rise of cryptocurrencies, particularly in Latin America, a region that has shown increasing interest in digital assets.

The cryptocurrency market continues to gain credibility and wider acceptance as more companies like Binance and Credencial Payments create solutions that simplify and promote the use of digital assets. The strategic alliance signifies a major advancement for the use of cryptocurrencies in the LATAM region, where digital payments are progressively becoming the norm.


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Heath Tarbert Joins Circle as Chief Legal Officer and Head of Corporate Affairs

In an exciting development for the global fintech industry, Circle Internet Financial has appointed Heath Tarbert as its new chief legal officer and head of corporate affairs, effective from July 1, 2023. Tarbert’s appointment is a significant move for Circle, which has been actively pursuing a strategy of global growth.

Tarbert steps into the shoes of Flavia Naves, Circle’s outgoing general counsel, who had announced her plans to leave the company earlier this year. Naves is known for successfully overseeing the company’s expansion and fundraising efforts, as well as establishing a world-class legal organization.

Before accepting the role at Circle, Tarbert held a significant position as the chief legal officer at Citadel Securities. His impressive career spans leadership roles across all three branches of the federal government and several key regulatory bodies. His experience includes serving as the 14th chairman and chief executive of the Commodity Futures Trading Commission (CFTC), vice chairman of the International Organization of Securities Commissions, and assistant secretary of the U.S. Treasury for international markets.

The decision to bring Tarbert onboard underscores Circle’s commitment to integrating traditional finance with Web3, the decentralized web powered by blockchain technology. Circle’s co-founder and CEO, Jeremy Allaire, lauded Tarbert’s appointment, emphasizing that his vast legal expertise and global regulatory experience would be invaluable as the company seeks to enhance the utility value of its stablecoin, USDC, on a global scale.

On his part, Tarbert expressed his excitement to join Circle and contribute to its mission of evolving the global financial system. He stressed the need for sound regulatory rules that provide clarity and protection for individuals and businesses dealing with digital assets.

Circle Internet Financial is a global fintech firm offering businesses the ability to leverage digital currencies and public blockchains for various financial applications. It is well-known as the issuer of USDC and Euro Coin, trusted and interoperable money protocols used across the internet.


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Bitget creates an AI-powered crypto trading tool

Bitget, an influential entity in the fields of crypto derivatives and copy trading, has introduced a novel tool called the Martingale AI trading bot. This AI-powered innovation is engineered to help its users trade cryptocurrencies with higher efficiency.

Taking its name from the traditional Martingale betting system, this fresh AI approach is designed to amplify investments in the wake of market declines to offset losses and garner profits. The AI component of the system streamlines investment automation, permitting traders to establish their risk parameters and investment intervals based on recommendations from Bitget’s in-house AI system. Notably, these guidelines are derived from an analysis of past market prices and asset volatility.

The architects behind the Martingale strategy underscore its adaptability to both bearish and bullish markets, thereby enabling traders to capitalize on long and short market positions. A distinctive feature of this strategy is its customizable risk management aspect, which offers traders the liberty to tweak various parameters in alignment with their personal trading patterns and risk thresholds.

The confluence of AI and cryptocurrency has been gaining more attention of late. Erik Voorhees, the person behind ShapeShift, recently spoke about the singular compatibility of cryptocurrencies and AI systems. A libertarian in favor of favorable regulation in the web3 industry, Voorhees contends that cryptocurrency is the only type of money that can be efficiently integrated into AI systems. He maintains that AI systems have the ability to manage and exploit digital assets. Bitget’s Martingale AI strategy serves as a tangible illustration of this concept, demonstrating how AI-enabled algorithms can augment trading strategies, automate tasks, and offer insights into market dynamics.

Concurrently with Bitget’s groundbreaking initiative, the AI crypto assets market is experiencing considerable expansion. Boasting a market cap of $2.66 billion and a 1.1% change within the last day, AI tokens that drive AI-centric projects like portfolio management, image generation, and pathfinding are on the rise. To illustrate, tokens such as RNDR, AGIX, and FET have seen gains of 0.4%, 1.7%, and 0.8%, respectively, in the past day. This ascending trajectory underlines the potential worth and escalating demand for AI tokens in the market.


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曾在麻省理工学院斯隆管理学院学习并担任Gary Gensler教授助教的“Kenny”(仅在Twitter上以此称呼)对美国证券交易委员会(SEC)最近对币安和Coinbase提起的诉讼,以及他个人在区块链和加密货币世界中的旅程,提供了一些深度见解。



后来,在2019年夏天在上海实习期间,Kenny与Victor Ji共同开展了一个与小企业的去中心化身份识别有关的项目。Kenny回忆起他与根斯勒讨论这些想法时的情况,形容他们的对话充满了思考。






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Former Student of SEC Chairman Weighs in on Binance and Coinbase Lawsuits

Former MIT Sloan School of Management student and teaching assistant for Gary Gensler, known only as ‘Kenny’ on Twitter, has offered insights into the recently filed lawsuits against Binance and Coinbase by the Securities and Exchange Commission (SEC), as well as his personal journey into the world of blockchain and crypto.

Kenny took to Twitter to share his experience of studying under the current SEC Chairman, Gensler, before his appointment to the role. Notably, Kenny wrote a report on Binance Coin (BNB) as a student, which he shared with both Gensler and Binance founder Changpeng Zhao, or CZ as he is commonly known.

Reflecting on this time, Kenny wrote, “It wasn’t the report but the interaction between Mr. Gensler & Mr. Zhao. I felt an opportunity for a future of blockchain that was open to innovation from both the side of the regulator and the innovator.”

Later, while interning in Shanghai in the summer of 2019, Kenny worked with Victor Ji on a project related to decentralized identification for small businesses. Kenny recalls reaching out to Gensler to discuss these ideas, describing their conversation as thoughtful.

In the tweets, Kenny acknowledges his growth in the world of blockchain and credits Gensler, Ji, and Zhao for providing direction and inspiration. Kenny states, “Meeting Mr. Gensler, hacking with Victor, getting recognized by Mr. Zhao… All felt like winds from the universe guiding me.”

This personal connection made the recent lawsuits filed by the SEC against Binance and Coinbase particularly impactful for Kenny. On June 5 and 6, 2023, the SEC filed 13 charges against various Binance entities and sought emergency relief to ensure the protection of Binance.US customers’ assets, respectively.

Speaking about the lawsuits, Kenny said, “The recent news regarding the lawsuits against @binance and @coinbase is truly an unfortunate outcome from the perspective of someone inspired by the same figures entangled in this.”

Despite his personal connections, Kenny remains hopeful for the future of blockchain and crypto, concluding with, “I truly hope that whatever comes out of this takes into account all of the hard work that the brightest minds are putting into the space to change the world.”


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