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Binance Labs is launching a new platform called ColLabs, targeting web3 founders , builders , and investors. ColLabs aims to streamline venture capital operations, knowledge sharing, and professional networking. It extends Binance Labs’ ongoing incubation and guidance efforts, targeting the mentoring and funding needs of the web3 sector with unique resources like customized learning content and event access. However, there have been question about it accessibility due to the exclusivity of these resources. We’re thrilled to announce ColLabs by Binance Labs an invite-only Web3 investment community for investors, founders & builders . Member-only content Real-time deal sourcing Insights from investors Access to Binance Labs network Read morehttps://t.co/uaWXeb8jQ9 — Binance Labs Fund (@BinanceLabs) August 31, 2023 The new venture also offers carefully reviewed investment prospects from Binance Labs’ current portfolio. While this could simplify due diligence f...

Binance Gets Expert Attorney Against the US SEC According to a new filing in the Binance vs US SEC lawsuit on August 30, attorney Andrew Rhys Davies filed a notice of appearance for BAM Management US Holdings and BAM Trading Services ( Binance .US). Judge Amy Berman Jackson has approved the earlier motion by Davies to appear pro hac vice in the lawsuit. advertisement According to a previous order, Judge Jackson wanted Davies to file a notice of appearance to appear in the Binance vs SEC lawsuit. “MINUTE ORDER granting 99 Motion for Leave of Andrew Rhys Davies to Appear Pro Hac Vice only upon condition that the lawyer admitted, or at least one member of the lawyer’s firm, undergo CM/ECF training, obtain a CM/ECF username and password, and agree to file papers electronically.” CoinGape Media earlier reported that the attorney comes in as Binance US seeks protective order from the court in response to the SEC’s exceeding the agreed-upon con...

United States District Court Judge Katherine Polk Failla is also the judge overseeing the SEC's lawsuit against crypto exchange Coinbase. A United States District Court judge has called Ether (ETH) a commodity in her dismissal of a class action lawsuit against the decentralized exchange Uniswap. In an Aug. 30 dismissal order of the case brought by Uniswap users who claimed they lost money due to scam tokens on the exchange — Judge Katherine Polk Failla wrote ETH and Bitcoin (BTC) were “crypto commodities.” The distinction was also part of her reasoning for dismissing the case — Failla said she wasn’t convinced by an argument that Uniswap’s token sales were subject to the Exchange Act. Interestingly, Failla is also the judge overseeing the SEC lawsuit against Coinbase. She has also had previous experience in overseeing other crypto cases in the past, including one involving Tether and Bitfinex.  The SDNY (Failla, J.) also explicitly found in its August 29 decision in Risely v. ...

Polygon CDK to address the “walled garden” problem in appchain ecosystems, tweeted Polygon. Developers can customize chains using Polygon CDK components, including upgrading to ZK technology. Polygon CDK provides cross-chain execution, rapid finality, and high-speed proof technology. Polygon just announced its Polygon CDK (Chain Development Kit) with an elaborate Twitter thread on how it fixes “walled garden” issue in existing appchain ecosystems. On August 29, Polygon tweeted that many appchain ecosystems struggle with liquidity and interoperability. However, a blog introducing Polygon CDK highlighted that Polygon 2.0 transforms that in its “vision of the Value Layer of the Internet.” How do we fix the “walled garden” issue in existing appchain ecosystems? Until now, liquidity has either been fragmented, or these ecosystems are interoperable but saddled with friction. Polygon CDK (Chain Development Kit) fixes this.https://t.co/Bq3HhOeg81 pic.twit...

Although this is a huge development for the Bitcoin community, the court ruling doesn’t mean that GBTC will automatically convert to a spot Bitcoin ETF. Bloomberg analyst James Seyffart throws some light as to what could be the next SEC actions after the recent development. advertisement The SEC could just proceed with allowing the conversion of the GBTC product to a spot Bitcoin ETF. However, considering the SEC’s past rejections of this investment product, this isn’t going to be a cakewalk. Now, if they have to stop Grayscale from proceeding with the spot Bitcoin, they have two options: Seyffart says that the SEC would need to revoke the approval of Bitcoin Futures ETFs. The recent directive from the DC Circuit essentially states that you cannot raise concerns about market manipulation while permitting Bitcoin futures ETFs. However, he believes that the probability of this happening is quite low. The second option is to reject based on previo...

DWF Labs withdrew 2 million $CRV tokens transferred to Binance a week ago. Andrei Grachev, co-founder of DWF Labs, says the withdrawal is for inventory management. DWF Labs was one of the many companies that acquired CRV tokens following Curve Finance’s hack. Digital asset market marker and Web3 investment firm DWF Labs has transferred 2 million $CRV tokens, worth $972K, from Binance a week after it deposited the tokens in the crypto exchange. On-Chain analytical platform Lookonchain made this revelation today in a recent post on X. DWF Labs(@DWFLabs) withdrew 2M $CRV($972K) from #Binance 40 mins ago.https://t.co/ufyoilyFq8 pic.twitter.com/bohHiL4cmk — Lookonchain (@lookonchain) August 29, 2023 Confirming the news,  Andrei Grachev, co-founder of DWF Labs, said the company has transferred the tokens to its on-chain wallet as part of “some inventory management.” He added further that the company may send the tokens back to Binance in the ...

Crypto influencer YouTuber Ben Armstrong — colloquially known as BitBoy — has had his YouTube channel, Twitter account, and other social media accounts taken from him by Hit Network, the company that apparently owns the intellectual property. The reason given for the complete takeover of Armstrong’s social media accounts was that it was part of a “prolonged effort to help Ben during his relapse into substance abuse, as well as reconcile the emotional, physical, and financial damage he has done to the employees of Hit Network.” No specific allegations were made against Armstrong and it’s unclear what substances he’s said to be abusing, what damage he did, or how the only recognizable brand from Hit Network — BitBoy Crypto — is any better off without its namesake. The channel hasn’t taken down any of Armstrong’s old videos or tweets but has released new videos and livestreams under the accounts. Possible other reasons for the takeover Something...

Bitcoin’s (BTC) price , was quite bullish today but was still below the $30,000 threshold at $26,070.23,  and up by around 0.25% since yesterday. Other well-known altcoins, Cardano (ADA) and Polkadot (DOT) experienced gains on the other side of the border. advertisement Ethereum is trading at $1,651.72, with almost 0.16% increase in the last 24 hours. Among other prominent cryptocurrencies, the XRP coin price observed a rise of 0.35%. Solana also faced gains, with its price increasing by 0.01%. On the other hand, Polygon (MATIC), which traded on red lines a few days back, is again up by 1.57%  since the last day.   Polkadot coin price saw an increase of almost 3.03% in one day.  The realm of meme cryptocurrencies tells the same story. In the past 24 hours, Dogecoin’s price witnessed an increase of around 1.10%, while Shiba Inu’s token price is up by almost 2.63%, in the last 24 hours. The Crypto Market today is prim...

Recent reports have indicated that Elon Musk might be considering the transformation of X (former Twitter) into a modernized iteration of PayPal.  Previously, a major institution’s endorsement of Bitcoin (BTC), like that of PayPal in late 2020, played a pivotal role in initiating a bullish surge in Bitcoin prices , at the time propelling its value to nearly $70,000. The future of X According to Charles Gasparino, a correspondent at Fox Business News, Elon Musk is engaged in ongoing discussions with prominent Wall Street executives concerning the future of X.  SCOOP: @elonmusk continues to have conversations w top Wall Street executives on future of @X. Seems to be settling, they tell me, on a new fangled payment system, updated version of @PayPal. It will offer low transactions costs (as opposed to credit cards) & monetize user info — Charles Gasparino (@CGasparino) August 24, 2023 Sources suggest that Musk is leaning towards introducing an evolved payment sy...

Author: Maverick Editor: Colin Wu As the ETH POS merger date is getting closer and closer, the discussion about ETHPOW never stops. A faction represented by Chandler Guo believes that a new ETHW should be forked, and that the new ETHW will have a higher market value than ETC, reaching 1/3 to 1/10 of ETH’s market value. There are also some big miners such as BITMAIN who are willing to fund the migration to ETC, with its mining pool AntPool investing $10 million to support the ETC ecosystem. And the main stream CEXs have not yet formed a unified opinion on any potential ETHW fork, and are mostly following a wait-and-see strategy to evaluate whether to support ETHW. But it doesn’t seem to matter to retail investors, after all, wealth is the first benefit, and there is room for speculation when there is heat. (This article is for information sharing only and does not constitute any investment advice or endorsement) Under the discussion of Ethereum merger and fork, the old chain Ethereum Cl...