CRYPTO NEWS: Latest BITCOIN News, ETHEREUM News, BINANCE News, RIPPLE News
Over the past week, Fagel has been buzzing about Ripple’s alleged violation of securities laws through XRP sales, which he describes as an unregistered security. Chatting with friends, this former SEC lawyer believes that the regulator has a stronger summary judgment argument than Ripple. 🤔
Fagel, with his whopping three decades of experience as a lawyer for and against the SEC, is convinced that the SEC is right in asserting that Ripple violated Section 5 of the Securities Act. “My opinion, based on 30 years as a lawyer both for & against the SEC, is that the SEC is correct that Ripple violated Section 5,” he said. 😮
But Fagel’s been ruffling some feathers among XRP enthusiasts, consistently stating that the SEC would triumph over Ripple based on Section 5. Despite his confidence in the SEC’s win, he admits he wouldn’t be shocked if the court grants summary judgment in Ripple’s favor. “But I also wouldn’t be surprised if the court rules otherwise,” Fagel said. 🎢
Now, Fagel’s comments have stirred up some XRP community members. Just yesterday, one member accused him of being biased and ignorant for stating that Ripple offered unregistered security. 🐦
In other news, Bitcoin and the broader crypto market are on the rise today, probably because, despite Powell’s efforts, the market expects a pause in rate hikes at the next FOMC meeting on June 14. 📈
Why? Well, back in March, most FOMC participants agreed that the final rate for this tightening cycle would be between 5% and 5.25%, which is precisely where the fed funds rate landed yesterday. With the CME’s FedWatch tool showing an overwhelming 99.2% currently expecting a pause in June, things are looking up. 🚀
Related Reading: Bitcoin Market in Disarray, But Optimism Prevails With Two Narratives
Over 85% anticipate the first rate cut as early as September, with the market currently expecting at least three rate cuts (to 4.25 to 4.5 basis points) by year-end. 📅
Even JP Morgan’s Davis thinks that “this is definitely the end of the hiking cycle for the Fed.” The representative of the largest U.S. bank by deposits also believes a Fed rate cut could come “as early as September.” 💸
This is great news for Bitcoin and crypto enthusiasts since risk assets typically benefit the most from a dovish monetary policy, as more liquidity gets pumped into the financial system. On the flip side, Bitcoin investors might be reacting to the deepening banking crisis in the US. 🇺🇸
Related Reading: Check Out This Shocking Pepe Coin Versus Bitcoin Comparison
As Silicon Valley Bank and First Republic Bank collapsed, BTC saw a spike yesterday when Los Angeles-based PacWest (PACW) plunged by around 60% in after-hours trading. Rumor has it that this regional bank is searching for a buyer and considering other strategic options. With little buying interest, PacWest could be the next domino to fall. 🏦
The Metaverse Explained
Metaverse (pronounced META-verse) is a digital universe that combines the physical and virtual worlds. It is a place where people can work, socialize and play in a more immersive, engaging, and embodied way than ever before.
Crypto, Nft, Game, Facebook, Zuckerberg – The Metaverse Explained
The metaverse is a decentralized virtual world that runs on blockchain technology. It enables users to create and manage their own assets, such as digital avatars, NFTs, skins and tokens – all through their mobile device, desktop computer or virtual reality headset.
It is a free-to-play 3D world where you can create and explore your own personalized digital world with friends. In this metaverse, you can build your own community and participate in a range of activities, including virtual shopping, educational encounters, sports and much more.
Openness, Interoperability and User Ownership:
The most important feature of the metaverse is its openness – users can easily move their communities and digital assets between different platforms, with no central authority restricting this. This is a major revolution in user ownership and will enable the creation of a new economy.
Advances in Enabling Technologies:
The future of the metaverse is dependent on advances in enabling technologies, such as 3D graphics rendering, simultaneous location and mapping (SLAM), sensors, and sensor fusion, as well as high-speed connectivity, compute power and the rollout of 5G networks. These technologies will advance at differing rates – and will be subject to different blockers – but they are all crucial for creating seamless, immersive, connected experiences.
