On Monday, the cryptocurrency market experienced a 5% drop following the SEC's lawsuit against Binance and its CEO, Changpeng Zhao, for violating federal securities laws. This and more news in this practical summary daily so that you are always informed with events most recent that occur within the crypto world.
Cryptocurrency market corrects 5%
📍On Monday, cryptocurrencies lost 5% of their value, on average, after learning of a new attack by the United States SEC against crypto companies. The Securities and Exchange Commission (SEC) imposed a lawsuit against Binance and its CEO, Changpeng Zhao, for allegedly offering and selling unregistered securities, operating unregistered exchanges, and misrepresenting trading controls and supervision on the crypto exchange platform Binance.US, among other charges.
The news of the lawsuit, which was presented on Monday, June 5, caused the fall of the crypto market, which has corrected by 5% in the last few hours.
The price of Bitcoin, the main cryptocurrency on the market, touched the level of $ 25.000 dollars for the first time since March. Ethereum and BNB, which follow Bitcoin as the second and third most capitalized cryptocurrencies on the market, have corrected by 4% and 8,8%, trading at $1.810 and $276, respectively.
According to the SEC, Binance and Zhao “subverted their own controls to secretly allow high-value US customers to continue trading on the Binance.com platform.” Zhao spoke out against these accusations, stating that the SEC, with its actions, is only undermining the United States' role as a global center for financial innovation.
Tether will mine bitcoins in El Salvador
📍Tether Limited is expanding its Bitcoin mining operations into El Salvador. In addition to promoting sustainable bitcoin mining in Uruguay, the company issuing the USDT stablecoin is betting on the development of this business model in El Salvador, the first country in the world to declare Bitcoin legal tender and one of the first to extract this cryptocurrency from the network using geothermal energy.
According to explained The company, through a strategic investment in the firm Volcano Energy, Tether will promote the construction of one of the largest crypto mining farms in the world for the extraction of bitcoins. As in Uruguay, Tether's plan to mine bitcoins on the blockchain network includes the use of sustainable energy, such as wind energy and solar energy.
With this investment, the company responsible for issuing USDT contributes to the security of the Bitcoin blockchain and promotes the economic growth and development of El Salvador.
LUCA, the new AI chatbot from the University of Cádiz
📍In Spain, the University of Cádiz has created its own AI chatbot trained to meet the needs of students. The university is using Artificial Intelligence to provide assistance to its students and respond efficiently to the questions, doubts and information needs they have on various topics.
On Monday, the Spanish university reported that LUCA, its new intelligent chatbot, will serve students interested in knowing about the enrollment processes, the available scholarship programs or the access cut-off mark for a certain degree, among other topics of interest.
The AI chatbot was developed as part of the 2021-2025 public administration digitalization program, published by the Government of Spain.
New features come to the Ordinals protocol
📍A new version brings several improvements to the non-fungible token protocol in Bitcoin. Version 0.6.0 of the Ordinals protocol will allow users to use credentials, such as a username and password, to log in, according to the publication shared by developers in GitHub repositories.
On the other hand, the new version of Ordinals also includes a function to index previously unrecognized inscriptions, among other functions.
Which countries can declare Bitcoin as legal tender?
📍According to a survey conducted by CoinMarketCap, Paraguay and Venezuela have a high probability of following in the footsteps of El Salvador in their policy towards Bitcoin. Both nations may be the next to implement policies friendly to the development of cryptocurrencies, the crypto community indicated.
In a poll Conducted by the CoinMarketCap platform, thousands of people voted to try to predict which may be the next countries to adopt cryptocurrencies as legal tender, pointing to three nations on the American continent. Paraguay, Venezuela and Anguilla lead the predictions, followed by Ukraine, the United States and Russia.
Continue reading: Cryptocurrencies are an example of resilience, says CoinMetrics
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