Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Crypto Flipsider News – August 4th – Ethereum’s London Hard Fork, SEC, Cardano, Tencent NFT Platfrom, Google

CryptocurrencyAug 04, 2021 10:30AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
Crypto Flipsider News – August 4th – Ethereum’s London Hard Fork, SEC, Cardano, Tencent NFT Platfrom, Google

  • Ethereum’s London hard fork is approaching!
  • SEC Chairperson Gensler: Most cryptos violate the securities law, regulation could increase adoption.
  • Cardano updates: Japan, cFund, Celsius Network.
  • China’s Tencent to launch an NFT art platform.
  • Google (NASDAQ:GOOGL) allows ads for regulated crypto market entities.

Ethereum’s London Hard Fork Is Approaching!

The long awaited ETH network update is set to be launched today between 13:00 UTC and 17:00 UTC, and should happen at block 12,965,000. The London upgrade is one of the biggest steps towards Ethereum 2.0, which intends to switch the network from proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism.

The London Hard Fork includes two major upgrades, namely limiting the amount of supply that creates pricing pressure, as well as lowering the ridiculously high gas fees!

Flipsider:

  • The wait for Ethereum 2.0 has become similar to the anticipation of the messiah’s arrival. Some people overestimate its influence. Yes, it’s a big update. However, will it tackle the core issues the industry faces and speed up the mass adoption of ETH and crypto in general?

SEC Chairperson Gensler: Most Cryptos Violate The Securities Law, Regulation Could Increase Adoption

Chairperson of the SEC, Gary Gensler, has expressed that crypto space lacks investor protection. In his speech at the Aspen Security Forum he compared it to the Wild West. The regulator said that a number of tokens are offered and sold as unregistered securities that do not comply with the US securities law, and therefore operate without regulatory oversight.

“This leaves prices open to manipulation. This leaves investors vulnerable.” Gensler concluded.

He further urged the SEC to continue investor protection, viewing crypto trading, lending, and DeFi platforms as a priority for legislation.

Flipsider:

  • Unregulated markets mean a lack of stability, and thus, a lack of investments, because who wants to risk their funds? The SEC is implementing a core mission – to protect investors and ensure financial stability, which is also a prioritized topic of national security.

Cardano Updates: Japan, cFund, and Celsius Network

  • Cardano will finally be listed in Japan. Japanese crypto exchange Bitpoint has become the first in Japan to include ADA, the fifth-largest digital asset.
  • CFund, Cardano’s innovation fund, has invested $500K into Blockswap’s DeFi app. Following this, the application will have ADA integrated into the platform. The app is called Open Saver, and allows users to bet on green crypto.
  • The Celsius Network announced that they will integrate ADA into their system on August 19th. The platform is intended for borrowing collateral and yield returns. Moreover, the platform offers a yield rate of 4.05% for ADA exclusively.

Flipsider:

  • Finally, we get several news stories from Cardano at once. Has the company switched from its baby steps approach to a “capture that market” strategy?

China’s Tencent to Launch an NFT Art Platform

China’s tech giant Tencent has plans to release a platform that enables artists to issue and sell their NFT art, music, videos, photos and more. It has already launched 3,000 NFTs as self promotion.

The NFT market has seen incredible growth so far in 2021. The largest NFT marketplace, OpenSea, recently surpassed $1 billion in market volume.

Flipsider:

  • Is this irony, or hypocrisy? That is the question. Interest in NFTs peaked in China right after the country cracked down on the cryptocurrency industry. The communist government has been as silent as a mouse, though that’s probably because it’s a little bit preoccupied with censoring video games to be “good, clean and secure.”

Google Permits Ads for Regulated Entities in the Crypto Market

Google’s new financial products and services policy came into effect this week. Regulated crypto market entities, namely crypto exchanges and wallets, are now allowed to advertise on the engine’s services. On the other hand, ICOs, DeFi trading promotions, and celebrity endorsements all remain banned.

Google initially banned crypto and ICO ads back in 2018. The step was taken in an effort to stop crypto scammers and shillers. Google ads generated $147 billion in revenue last year.

Flipsider:

  • Marketing is a powerful weapon, so it has to be used with caution. Just remember the case of Robinhood (NASDAQ:HOOD), whose misleading statements led to the suicide of inexperienced trader.
  • Regardless of these new decisions from Google, those who want to promote themselves will always find a way.

EMAIL NEWSLETTER

Join to get the flipside of crypto

Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.

[contact-form-7] You can always unsubscribe with just 1 click.

Continue reading on DailyCoin

Crypto Flipsider News – August 4th – Ethereum’s London Hard Fork, SEC, Cardano, Tencent NFT Platfrom, Google
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email