This week’s recent dip in bitcoin (BTC) and binance coin (BNB) prices can be attributed to the lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Binance, which is the largest cryptocurrency exchange in the world.
Bitcoin and BNB prices fall as SEC sues Binance
The SEC has accused Binance, its CEO Changpeng Zhao (CZ), and Binance US of violating securities laws by manipulating the market and offering unregistered securities.
The SEC’s allegations include the operation of unregistered national securities exchanges, broker-dealers, and clearing agencies by Binance and Binance US. This means they’re accused of providing services and products without regulatory approval. Some specific products mentioned by the SEC include Binance’s staking program, certain crypto lending products, and its native exchange tokens BUSD and BNB.
The SEC’s claims align with previous allegations made by the Commodities and Futures Trading Commission (CFTC) in March, which accused Binance of market manipulation and illegal services to US clients from its international platform. These charges have led to a significant loss of trust and confidence in Binance and its associated cryptocurrencies.
The impact of the lawsuit on Bitcoin and Binance prices was immediate. Bitcoin, the market’s leading crypto, fell from $26,800 to $26,297 shortly after the news broke.
In response to the SEC’s allegations, Changpeng “CZ” Zhao, the CEO of Binance, took to Twitter and tweeted the number “4.” This was interpreted as a call for his followers to disregard negative press, and what he referred to as “fake news” intended to spread fear, uncertainty, and doubt about the exchange.
CZ also mentioned that Binance would issue a response to the complaint once they had reviewed it.
Is InQubeta the next big bet?
In contrast, the new platform InQubeta can present an alternative investment opportunity, especially for those interested in supporting the growth and success of AI start-ups.
The platform offers a unique approach to crowdfunding through fractional investment using its native token, QUBE.
Firstly, InQubeta’s non-fungible token (NFT) marketplace allows artificial intelligence (AI) start-ups to raise funds and offer reward and equity-based NFTs, potentially providing investors with valuable opportunities.
By fractionalizing investment opportunities into NFTs, individuals can invest in projects that align with their budget and interests, fostering inclusivity and accessibility.
The QUBE token itself serves as a component of this investment ecosystem. As a deflationary ERC-20 token, QUBE offers incentives to investors. A 2% tax on all buy and sell transactions contributes to a burn wallet can increase the token’s value over time.
Additionally, a 5% sell tax supports a dedicated reward pool, letting token holders earn rewards through staking their tokens. These mechanisms help create a feedback loop that could benefit investors, even supporting prices.
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InQubeta also recognizes the potential of combining AI technology with the crypto space. The platform ensures transparency, security, and efficiency throughout the investment process by leveraging the blockchain and smart contracts. This fosters trust between investors and start-ups and democratizes the investment landscape by removing traditional barriers.
AI is driving innovation across various fields. By considering AI, investors can contribute to the broader development of technology that can positively impact society. InQubeta can be an avenue to support these advancements and participate in the growth of AI start-ups.
Lastly, InQubeta offers governance features to its QUBE token holders, allowing them to actively participate in shaping the platform’s development and future direction. Through proposing, discussing, and voting on various aspects of the platform, the community can exercise a democratic approach and gain a sense of ownership in shaping the platform.
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Source: https://crypto.news/bitcoin-and-bnb-prices-fall-inqubeta-presale-can-be-a-crypto-safe-haven/