I am joining you hehehe. The Hinman documents will be unsealed and revealed on June 13 as requested by the lawyers of Ripple. The documents have records of a speech made by Bill Hinman where he said that Bitcoin and Ethereum are not securities. Ripple's lawyers argues that they can use Hinman's speech to open a case that XRP is also not a security. This is bullish for the much of the cryptospace because it might set a precedent for many projects to also open their own cases that their tokens are not securities hehehe.

Also, XRP might pump if Ripple's lawyers get a good outcome hehehehe.

Mainnet for gamified tasks and actvities would be better! Have you seen what the project Paulygon is doing? This can be something that might be very useful for new platforms that want to build a community of loyal users.

https://paulygon.io/

I have always argued that NFTs could develop cultural value for the community that holds it and as the community grows, the demand for the collection grows and this might develop into financial value.

I very much disagree that NFT will die down sooner. It has the potential to have financial value similar to cryptocurrency and not only that, it also has cultural value for the community that own and hold them. I would also argue that because of the regulators in America are presently going after tokens and classifying them as illegal securities, some investments in tokens might go to NFT.

Also, I am not quite certain if you are updated with the news, however, China has been opening up on the cryptospace again. I have been sharing news all over the forum about this.

Does this answer during an interview imply that Amanda Nunes might retire after this fight? Does it also imply that she does not care if she loses her championship if the opponent is not Julianna Peña? This type of mental attitude from a champion is not good.

Aldana might also be underestimated for this fight very much similar to how sexy kitty Alexa Grasso was underestimated vs. Valentina. My prediction, we will witness another Mexican lady become a UFC champion. Aldana will win with a knockout on round 3 hehehe.



Her 12-fight, six-year unbeaten streak had been broken, and there was certainly nothing left for her to prove after she had reigned as a simultaneous two-division UFC champion. In fact, Nunes had beaten every single woman who’d ever held UFC gold at either bantamweight or featherweight.

Then a harsh realization washed over Nunes like a cold bucket of water, and she immediately changed her mind.

"I decided to not retire, because if I retire, I leave my belt with Julianna,” Nunes said during UFC 289 media day. “No way. No way. It can be with somebody else, but with Julianna, no."

Source https://www.mmafighting.com/2023/6/7/23753218/amanda-nunes-considered-retirement-but-couldnt-stomach-leaving-with-julianna-pena-as-champ

Do not be more inclined about hehe. We should be more confident that it will be the newer projects that might find success in China. Neochain, Vechain and the rest of them that were created before 2019 will be forgotten and die slowly. I might be wrong about some of them, however.

Also, on EOS, do you remember their ICO that lasted for 1 year? The rumor on that is it was a money laundering scheme for the Larimer brothers and Fenbushi Capital. Much of the coins that went in the billion dollar ICO were from the Larimers and Fenbushi hehe.

Similar to what I have argued before, the SEC does not take action or create regulations to protect the public or the small investors. What the SEC and the other government departments are really doing is to protect the rulers of the country, their backers who own the biggest financial institutions and the biggest companies. They only protect the interests of the people that own you.


Even if you hate crypto and view it all as a giant scam—as is suddenly fashionable—it’s very clear that it is not going anywhere. Bitcoin’s resilience is one sign of that, and another is the fact that people now own more crypto than ever. A series of surveys published today by the Wall Street Journal reveals (https://www.wsj.com/articles/cryptos-quiet-gains-ownership-climbs-despite-crash-in-prices-af76cdd6?mod=Searchresults_pos3&page=1) that the proportion of the population owning crypto has jumped from 2% to 12% in the last four years. More notable are the demographics: While only 5% of men over 60 (Gensler’s bracket) own crypto, an eye-popping 38% of men aged 20 to 40 do, while the figure is 16% for women of that age.

Gensler’s efforts to portray himself as a high-minded protector of the American people—on display in this new Journal (https://www.wsj.com/articles/secs-gary-gensler-had-crypto-in-his-sights-for-years-now-hes-suingbinance-and-coinbase-dbeb79eb?mod=Searchresults_pos11&page=1) profile—are also hard to stomach. This is a man who climbed to the top rungs of Goldman Sachs and then served as campaign chair for the ethically challenged (https://www.pbs.org/newshour/politics/ethics-clinton-foundation) Hillary Clinton. He has personal and professional ties to Sam Bankman-Fried, whose massive fraud the SEC failed to spot. The hypocrisy is even more grating given Binance’s allegation, which Gensler has yet to deny, that he arranged (https://fortune.com/crypto/2023/06/08/gary-gensler-binance-changpeng-zhao-cz-informal-advisor-sec-lawsuit/) a 2019 lunch with its CEO to pitch himself as an advisor for the company—no doubt for a lucrative fee.

Read in full https://fortune.com/crypto/2023/06/09/gensler-can-destroy-the-u-s-crypto-industry-but-he-cant-kill-crypto/

@mikeywith also mentioned in another post that it is very strange that the SEC has not sued FTX hehehe. The skeptical me is starting to speculate that uncle Gary is bagholding FTT hehehehee.

In any case, in fairness to uncle Gary, he is not treating Binance differently from Coinbase. However, Coinbase is in a disadvantage because it is a public company. The SEC can request for a preview on their balance sheets and know how much assets they have left in their treasury to fight a long legal proceeding.

News update.

It appears Binance.us' banking partners are also being attacked and intimidated by uncle Gary and the SEC. If you think uncle Gary is doing this to protect small minnows like us then I would say that you are a nonthinking, indoctrinated robot.

The SEC of any country has seldom created rules and regulations to protect the public. It protects the country's rulers who own the banks and those people who control and manipulate traditional finance. They are the real criminals.



The SEC has taken to using extremely aggressive and intimidating tactics in its pursuit of an ideological campaign against the American digital asset industry. http://Binance.US and our business partners have not been spared in the use of these tactics, which has created challenges for the banks with whom we work.

As a result, in an effort to protect our customers and platform, today we are suspending USD deposits and notifying customers that our banking partners are preparing to pause fiat (USD) withdrawal channels as early as June 13, 2023. We encourage customers to take appropriate action with their USD.

Our priority is, and has always been, our customers. We are taking these proactive steps as we–for a time–transition to a crypto-only exchange. To be clear, we maintain 1:1 reserves for all customer assets. Any downtime in processing withdrawals may be the result of elevated volumes and weekend bank closures. Moreover, trading, staking, deposits and withdrawals in crypto remain fully operational.

While we remain open to a productive compromise that enables a thriving digital asset marketplace in America, http://Binance.US will continue to vigorously defend ourselves, our customers, and industry against the meritless attacks of the SEC.

Source https://twitter.com/binanceus/status/1666996908651323393

There are also unconfirmed rumors that MEXC exchange is dumping their own customers' tokens and the exchange is using leverage to short those tokens. Withdrawals were also mentioned to be cancelled which might be a signal that the owners are ready to rugpull.

If this is true then this certainly makes it appear that there might be more of the smaller exchanges that are secretly insolvent.

I very much agree. However, the reason for arguing on why Chinese projects might pump is because of the speculation that they might be among the first projects to be whitelisted in Hong Kong then in mainland China through Shanghai. It is not because the projects are simply Chinese.

On the argument of tokenomics, what I like about some of the Chinese projects is their implementation of buy and burn for maintaining value. I have noticed that compared to western developers, it appears that buy and burn is a more liked tokenomics structure by Chinese development teams.

@Darker45. As a user of crypto and an enjoyer of the innovation it brings, I wish for Binance to win the case because a win for them will certainly be a victory for the cryptospace and its community of users.

Also, who would be happy to witness this joker Gensler and the old grandmas Elizabeth Warren, Janet Yellen get the win? We should be scratching our heads if we see someone in the forum cheering for them.

It appears that Conflux's development team is placing themselves to be near the people who might be influencial on creating the whitelisting process in Hong Kong. I would also speculate that the whiltelisted projects in Hong Kong might also be the first projects to be whitelisted in Shanghai once mainland China decides to open their country for the cryptospace again.



Further solidifying our growing partnership with Web3 advancements in Hong Kong, Conflux is pleased to announce that it has become a senior member of the Institute of Web 3.0 in Hong Kong.

As the only regulatory-compliant public blockchain in China, Conflux holds a unique advantage for projects seeking to build and expand into Asia. Therefore, our decision to join the Hong Kong Web 3.0 Institute as a senior member aligns perfectly with our initiatives. We are honored and enthusiastic about collaborating with other industry players in the Web3 space and actively demonstrating our support for Web3 development in Hong Kong.

The Institute will be led by Norman Chan, the former Head of the Hong Kong Monetary Authority (HKMA). Li Feng, CEO of China Mobile International, will serve as the Honorary Chairperson. Chan’s extensive experience in traditional finance during his tenure at the HKMA will contribute to establishing a standardized framework for digital currencies within the new Institute.

Source https://confluxnetwork.medium.com/conflux-joins-hong-kongs-new-web3-institute-2e14b8bb648

If anyone does not see this lawsuit as a surprise, do you know what would come as a surprise? The allegation in this article hehehe. This shows Gary Gensler's hypocrisy. There was also a video of him where he was shilling Algorand, telling his listeners in MIT that Uber could be built in this blockchain hehehehe. I am starting to speculate that he might have lost a big investment in an altcoin somewhere which might have also triggered his personal war against the cryptospace.



Binance lawyers allege SEC Chair Gensler offered to serve as advisor to crypto company in 2019

SEC Chair Gary Gensler, who is in the midst of a hefty crackdown on crypto companies, offered to serve as an advisor to Binance’s parent company in 2019, according to the lawyers for Binance and founder Changpeng Zhao.

Documents filed by the SEC on Wednesday indicate that attorneys from Gibson Dunn and Latham & Watkins, two of Binance’s law firms, allege that Gensler offered to serve as an advisor to the crypto exchange in several March 2019 conversations with Binance executives and Zhao. He eventually met Zhao in Japan for lunch later that month, the filing claims.

Source https://www.cnbc.com/2023/06/07/binance-lawyers-say-sec-chair-gensler-offered-to-be-advisor-in-2019.html

Did someone mention fighting kitties? There is one who might have those slick, slippery skills on an octagon, a diamond, a square, a circle or it can be any shape hehehe.



She is from Romania.


I reckon these close fights that go to the judges should be taken as something for fighters to start doing their best to finish the fight with a knockout or a submission.

The UFC should also bring back those techniques that would make it easier for them to knockout each other, very much similar to One Fighting rules where they are allowed to knee or step on a grounded opponent's head.

Uncle Dana should encourage this. He is promoting a slap league where there is free concussion on every slap on a defenseless opponent, however, he will not allow simple martial techniques for opponents who are allowed to defend themselves? This is head shaking.

If uncle Jim speaks bearishly, this means buy.



CNBC’s Jim Cramer discussed market manipulation on Tuesday and advised investors to get their money out of cryptocurrency while they still can.

Source https://www.cnbc.com/2023/06/06/as-the-crypto-lawsuits-pile-up-cramer-says-get-out-while-you-can.html

News update.

Who is this we Gensler is talking about? Shaking my head because it appears he is trying to speak for everyone.

This Gensler does not answer the calls for the cryptospace's need and questions for regulatory clarity. He would prefer to use fear tactics and lawsuits to enforce the old rules that have become questionable in regulating the cryptospace.

This statement also appears that he is announcing that he wants an effective ban and his actions have been trying to make it a reality.



U.S. Securities and Exchange Commission Chair Gary Gensler took to live television on Tuesday to say there is no need for more digital currencies.

“We don’t need more digital currency. We already have digital currency. It’s called the U.S. dollar. It’s called euro. It’s called the yen. They’re all digital now,” said Gensler on CNBC's Squawk Box.

Source https://www.theblock.co/post/233295/gary-gensler-crypto-coinbase-binance




I reckon it might be more advantageous for them as a business to leave the jurisdiction where they are not wanted and return when there is regulatory clarity. They will be wasting much funds on lawsuits that might not get a resolution until years later.

@ozone_chain. It might be a nice addition for the project to have a gamified testnet to explore the project through tasks where the users can mint an NFT after completion of each task hehe. NFT holders can also be given an opportunity for future airdrops if the team decides to have one.

In any case, there are already other protocols and projects that do this to promote their work. It can help create interest for the project and help assemble an early group of loyal supporters.

I very much agree. Also, if someone wants to try to have a better chance to come on top everytime, it would certainly be good for him to quit playing games that have a permanent house edge against his bets. I reckon he should play blackjack where he can be given some opportunities to have an edge or gamble in sportsbetting where he can have a flexible edge against the house.

Okay, I will try hehe. However, do not expect pumps on the Chinese projects immediately. What we should be doing is be the first to know the updates on which Chinese projects are going to be whitelisted in Hong Kong and mainland China.

According to some people in social media, Hong Kong's regulatory guideline might start with allowing projects with proven track records before it whitelists newer, riskier projects. It might also not yet allow leverage and stablecoins.

@zasad@. Yes, not yet at present. However, if a project is declared as a security, it would be forced to either leave the American jurisdiction or register with the US SEC for compliance which, under securities laws, might force those projects to use government approved custodians and transfer agents.

This important information is presently being left unnoticed by much of the people in the cryptospace and it will be the most damaging on the greatest innovation that decentralized ledgers and database has brought us.