🚨 Thunderbolt: SEC rocks Coinbase!
Welcome to the Daily Tribune Thursday, March 28, 2024 ☕️
Hello Cointribe! 🚀
Today is Thursday, March 28, 2024, and like every day from Tuesday to Saturday, we summarize the news of the last 24 hours that you shouldn't miss!
But first…
✍️ Cartoon of the day:
A quick look at the market…
🌡️ Temperature:
Partly sunny 🌤️
24-hour crypto summary ! ⏱️
📉 Coinbase's defeat: A regulatory turning point
In the midst of crypto regulations, a recent court decision in favor of the Securities and Exchange Commission (SEC) against Coinbase marks a significant turning point. The judgment grants the SEC the right to sue Coinbase, the largest cryptocurrency exchange in the United States, for its staking program. This legal confrontation raises fundamental questions about the classification of cryptocurrencies and the scope of the SEC's authority over these emerging digital assets.
On the one hand, Coinbase and other market participants argue that cryptocurrencies should be considered as a new class of assets, outside the traditional jurisdiction of the SEC. On the other hand, the SEC persists in classifying certain cryptocurrencies as securities, thus requiring their regulation. The outcome of this legal battle is expected to deeply influence the regulatory framework of cryptocurrency exchanges and token offerings, and could potentially hinder innovation by introducing additional regulatory barriers. This case, which goes beyond the borders of the United States, could define the future of decentralized finance on a global scale.
🔗 Read the full article
🧠 Tether dives into decentralized AI
Tether, the issuer of the famous stablecoin USDT, boldly ventures into the field of decentralized artificial intelligence (AI). By announcing its expansion into the development of multimodal AI models, Tether aspires to revolutionize accessibility to AI in the crypto industry. This initiative aims to break down current barriers, making AI accessible to all and stimulating innovation through an open and collaborative ecosystem. An approach that could democratize a technology traditionally dominated by tech giants, promising to boost the sector with new possibilities.
Beyond the mere exploration of AI, Tether aims to integrate these advanced technologies into the core of its products, thus meeting the real needs of the cryptocurrency market. The goal is to solve concrete problems with useful innovations, while committing to full transparency. By adopting a \"transparency by design\" philosophy, Tether seeks to establish the essential trust in the crypto community, where users can understand and evaluate the algorithms and underlying data of their AI services. This initiative is complemented by a global recruitment campaign aimed at attracting the best talent in AI, highlighting Tether's ambition to become a pioneer in the adoption of decentralized AI within the crypto industry.
🚀 Imminent Arrival of Bitcoin ETFs in China
With the SEC's approval of Bitcoin ETFs, a similar movement seems to be preparing in Asia, with Hong Kong potentially giving the green light before June. This initiative marks a crucial step in the acceptance and integration of Bitcoin into traditional financial markets. Bitcoin ETFs, powered by giants like BlackRock, Fidelity, and Grayscale, have catalyzed a daily influx of hundreds of millions of dollars into the Bitcoin market.
Initiated by Hong Kong, this momentum could encourage other Asian financial centers to embrace Bitcoin ETFs, significantly increasing the importance of the Asian market in the global Bitcoin ecosystem. Meanwhile, major developments are observed in Japan and South Korea, where pressure mounts to adjust regulations and facilitate the entry of American ETFs into these markets. These efforts reflect a change in perception of Bitcoin by regional authorities, who are starting to recognize the possible and beneficial coexistence of Bitcoin with fiat currencies, contrary to previous fears.
🔗 Read the full article
🤖 AI Fusion: FET, AGIX, and OCEAN join forces
Fetch.ai, SingularityNET, and Ocean Protocol, three pioneering crypto projects in the field of artificial intelligence, are considering merging their tokens under a new crypto entity called ASI (Artificial SuperIntelligence). This initiative aims to counter the dominance of tech giants by democratizing access to AI. A total valuation of 7.5 billion dollars is projected for the new entity, AltSignals (ASI), which aims to develop decentralized AI protocols away from traditional centralized control. This historic collaboration between the three platforms would be under the guidance of Ben Goertzel, founder of SingularityNET, and Humayun Sheikh, CEO of Fetch.ai.
The announcement of this potentially revolutionary merger comes at a time of growing enthusiasm for AI, demonstrated by massive investments from actors such as the Saudi government and Microsoft, as well as the recent financial sanctions imposed on Google by France. This initiative by Fetch.ai, SingularityNET, and Ocean Protocol could redefine the approach to AI innovation, proposing a vision where artificial intelligence is used for the benefit of all, in a spirit of decentralization, ethics, and collaboration. It marks a major turning point towards accessible and beneficial AI for a wide community, beyond the constraints and monopolies established by tech giants.
Crypto of the day: Quant (QNT)
Quant is a blockchain that stands out for its major innovation: Overledger. This multi-chain platform aims to connect different blockchains, enabling unprecedented interoperability between them. Overledger facilitates the creation of multi-chain applications (MApps) that can take advantage of the specific benefits of each blockchain. The added value of Quant lies in its ability to simplify communications between blockchains, paving the way for more efficient and integrated solutions in the world of decentralized finance, health, logistics, and beyond.
The native crypto of Quant, QNT, is mainly used to access Overledger and pay for transactions and services within the ecosystem. Its initial distribution was carried out through a token sale, highlighting a strategic distribution aimed at supporting the platform's development and expansion. QNT holders enjoy several advantages, including participation in the governance of the Quant ecosystem, as well as the ability to use the currency for transactions and services within Overledger. This practical utility strengthens the demand for QNT while offering long-term appreciation potential to investors and platform users.
Recent Performances
Current Price: $141.17
Percentage Increase/Decrease: 1.00% (increase in 1 day)
Market Cap: $1,708,145,264
Rank on CoinMarketCap: 68
Technical Analysis of the Day: Fantom (FTM)
In the span of one month, FTM has risen more than 160%, a truly skyrocketing ascent that has captured everyone's attention. This cryptocurrency, which hovered around $0.17 in October 2023, has recently crossed the psychological threshold of one dollar, a pivotal moment for any investor closely following these movements. But what lies behind this spectacular rise? Well, let's dive together into this bullish adventure.
Fantom's trajectory is that of a phoenix rising from its ashes. After hitting rock bottom just below $0.20, FTM rebounded, surpassing significant milestones to finally reach and exceed the dollar mark. This journey illustrates a solid support at $0.30, which served as a springboard to conquer successive resistances. But what makes Fantom's story even more captivating is its recent peak at $1.22, flirting with the Fibonacci level of 38.2% calculated from its all-time high.
So, what does the future hold for Fantom? If the price remains above the symbolic dollar threshold, we could witness a continuation of this bullish trend, with our eyes set on targets at $1.12 and maybe even $1.22 again. However, in the unpredictable universe of cryptocurrencies, every support and resistance is crucial. Slipping below the dollar could lead to a fallback to $0.80 or $0.90, or even the support at $0.66.