Welcome to HODL FM, where the crypto buzz never takes a break! The weekend is just around the corner, so we’ll give you the scoop on everything you might’ve missed. Sit back, relax, and get ready to dive into the latest news!
Previous Digest: TON Price Sinks, Nubbing Fake Cops in Ukraine in $250K Con Game, Sakana Collabs with NVIDIA to Bring AI to Japan
Top Gainers:
BinaryX (BNX), the utility token of the BinaryX gaming platform, surged 40.23% over the last seven days, climbing from $1.11 to the current $1.55. BinaryX powers decentralized games on the BSC.
Quant (QNT) gained 29.15% in the past week, increasing from $59.34 to $76.63. Quant facilitates interoperability across various blockchains, aiming to bring seamless, secure data exchange between different systems.
Popcat (POPCAT), associated with a viral meme, saw a rise of 27.95% this week, moving from $0.5185 to $0.6634. It capitalizes on the meme culture to create unique decentralized experiences.
Top Losers:
Helium (HNT), the utility token for the blockchain-powered Internet of Things (IoT) network, dropped 6.52% in the past seven days, falling from $8.27 to $7.73.
Arweave (AR) – a native token of the Arweave decentralized storage network, saw a 5.29% decrease over the past week, with its price declining from $21.00 to $19.89. Arweave focuses on permanent data storage on a blockchain-like structure.
Litecoin (LTC) – a well-established cryptocurrency designed for fast and low-cost payments, dropped 3.27% this week, decreasing from $65.03 to $62.90. Litecoin continues to offer a reliable alternative to Bitcoin.
UAE’s Regulatory Breakthroughs in Crypto Regulation
According to research by investment consulting firm Henley & Partners, the UAE is now ranked third globally in cryptocurrency adoption, leaving even the mighty U.S. in the dust. And, thanks to recent developments in the region, the study also recognized the country as one of the leaders in global crypto acceptance. Curious what these mysterious developments might be?
The UAE’s Federal Financial Agency, the Securities and Commodities Authority (SCA), and Dubai’s Virtual Assets Regulatory Authority (VARA), announced a landmark agreement. This deal allows for mutual oversight of Virtual Asset Service Providers (VASP) across the country.
At VARA, virtual asset activities are secured through the licensing of VASPs, monitoring of compliance, and enforcement of corrective actions, which may include licence suspension or revocation.#VARA #DubaiRegulations pic.twitter.com/pmDDSvWmhU
— Virtual Assets Regulatory Authority (VARA) (@varadubai) September 9, 2024
Any VASP operating in Dubai and looking to get a license from VARA “can be automatically registered with the SCA to serve the broader UAE market.” However, the SCA clarified that if a VASP wants to operate in emirates other than Dubai, they’ll still need a separate license from the respective regulator.
The announcement details how the agreement covers mutual supervision of crypto providers, which includes everything from slapping fines on offenders to sharing intel and collaborating on employee training.
His Excellency Helal Saeed Al Marri, Chairman of VARA’s Executive Board said:
Today marks a key milestone showcasing regulatory unity across the UAE, furthering our shared vision of a reliable, secure, and interoperable virtual assets ecosystem.
Beyond the regulator cooperation, there’s been a lot of legal action in favor of crypto too. Just last month, on August 16, UAE lawyer Irina Heaver explained that Dubai’s Court of First Instance ruled cryptocurrency to be an acceptable form of payment in employment contracts.
Prometheum Embracing SEC Rules in Crypto, Proving that ETH is a Security
Prometheum has launched its platform for storing digital securities, adding Optimism (OP) and The Graph (GRT) tokens to its previously supported assets, ETH, UNI, and ARB. This makes it the first crypto platform fully registered with the SEC as a broker-dealer, despite taking some heavy flak from the crypto industry, which isn’t exactly thrilled about labeling tokens as securities.
Prometheum Capital has launched our full custody service for #digitalassetsecurities. Financial institutions, corporations, and institutional investment firms can now custody digital asset securities through Prometheum Capital, a FINRA member firm and SEC-registered Special…
— Prometheum (@PrometheumInc) September 11, 2024
Prometheum, however, stands firm in its belief that the SEC’s regulatory framework is the way forward. The company is offering a platform for institutional clients, with custody services and future trading features. Unlike many of its peers who are locked in legal battles with the SEC, it is fully embracing the rules and aims to be the "PayPal" of digital assets, building infrastructure for the issuance and trading of tokens as securities.
Of course, not everyone is cheering them on. Critics point out that the company has yet to provide any solid evidence of its business viability — no clients, no revenue. To make matters more complicated, the ongoing tug-of-war between the SEC and the Commodity Futures Trading Commission (CFTC) leaves the future of crypto regulation, including whether Ethereum is a security or a commodity, hanging in the balance.
Still, Prometheum is pressing forward with the SEC, confident that their model will prove it’s possible to operate within the current legal framework.
What’s New in Apple’s Latest AI Features?
In case you missed Apple's latest presentation for good reasons, for example, you were busy floating in outer space like billionaire Jared Isaacman, here’s what’s coming in the latest smartphone.
Apple is ramping up its generative AI tools, now branded as Apple Intelligence, which will soon be available to users. This suite includes nifty features like text rewriting and editing, generating summaries, and crafting email suggestions.
Siri is getting a major facelift, with new capabilities such as an enhanced language model, the ability to type queries, and a fresh interface for CarPlay and Mac devices. Photo features are also getting a boost: you’ll be able to remove unwanted objects, search for images using natural language, and create video memories from your photos. Plus, you’ll be able to record and automatically transcribe your phone calls.
These AI tools will gradually expand to include visual intelligence, custom emoji creation, and better integration of Siri with other apps and OpenAI.
However, there’s a catch:
When the iPhone 16 and iOS 18 drop this September, these features won’t be available just yet. They’re set to launch in October for the iPhone 15 Pro, all iPhone 16 models, and Mac and iPad devices with Apple Silicon M1 or newer. Initially, these features will only support US English.
And finally, Apple’s burning question for you is:
Would you upgrade to the iPhone 16 just for the Apple Intelligence features? pic.twitter.com/H4v1bMMb7S
— Apple Hub (@theapplehub) September 13, 2024
Dayo Paul
Disclaimer: All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that despite the nature of much of the material created and hosted on this website, HODL FM is not a financial reference resource and the opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice of this sort, HODL FM strongly recommends contacting a qualified industry professional.
