7-Day Market Moves

It's been a turbulent week in the crypto market. BTC dropped 7.23% and ETH fell 4.56% over the past seven days.

Yesterday, Binance was slammed with 13 charges by the SEC, causing its token BNB to plummet by 10.21% in 24 hours and 11.61% over the week.

Traders fear the lawsuit's impact, as the market cap dipped 4.6% to $1.09 trillion while trading volume surged 118% to over $48 billion.

As the dust settles, all eyes will be on the legal proceedings involving Binance and the potential implications for the broader crypto industry. We'll be here to keep you informed on the latest market developments.

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Apple Unleashes Its AR Headset - The Vision Pro

TL: DR

• Apple has officially unveiled the Vision Pro, its augmented reality (AR) headset that is priced at $3,499.
• The device blends the real world with virtual experiences and features external cameras and sensors for immersive AR experiences.
• The Vision Pro will release in early 2024.

Apple has finally unveiled its much-anticipated augmented reality (AR) headset, the Vision Pro, and the device will only set you back by a meagre $3,499. The sleek standalone headset resembles slim ski goggles, boasting a mix of metal and fabric, and even features the iconic "Digital Crown" dial from the Apple Watch. Equipped with external cameras, wearers can look "through" the headset, immersing themselves in a world where digital content seamlessly blends with their surroundings.

The Vision Pro, set to release in early 2024. It utilizes the powerful M2 chip found in Apple's Mac computers. The headset operates on Apple's visionOS operating system, offering hand and gesture-based navigation for an intuitive user experience.

The company's focus on augmented reality experiences rather than virtual reality suggests a unique direction for the headset, enhancing productivity, entertainment, and social interactions in ways we've never seen before.

Although Apple didn’t mention NFTs or the metaverse during the reveal, the headset has got the NFT industry excited about its potential application in metaverse developments.

In other news,

• Wallet-as-a-service provider Magic Labs secures $52 million in funding. Read more.
• Coinbase, Robinhood, CFTC to testify in Congress over draft crypto bill. Read more.
• New York’s Met Museum agrees to return $550K in FTX Donations. Read more.
• Montenegro court approves Do Kwon's $428K bail request in fake passport case. Read more.

Nike's NFT Game Plan Teams Up with EA Sports

TL: DR

• Nike and EA Sports have announced a collaboration with EA Sports.
• Nike's Web3 platform, .Swoosh, is expected to provide Nike-branded gear as planned digital collectibles in upcoming EA Sports games.

Exciting news from the world of sports and gaming!

Athletic giant, Nike has announced a collaboration with video game maker EA Sports, hinting at a venture into the world of digital collectibles. While details are still scarce, the partnership is expected to integrate Nike-branded gear as planned digital collectibles via the .Swoosh platform.

According to Nike's announcement, the collaboration with EA Sports aims to create immersive experiences with a strong emphasis on customization. The teaser video showcases Nike-branded football and soccer gear, along with a glimpse of a .Swoosh NFT collectible featuring a football helmet.

This collaboration marks another exciting milestone in Nike's NFT journey. Despite being in a closed beta, Nike's .Swoosh platform has already made waves with its first NFT collection, selling over 92,000 NFTs. The success of Nike's NFT releases has been impressive, with revenue reaching over $186 million since December 2021.

In other news,

• Iconic H.R. Giger 'Alien' sculpture to be fractionalized as NFTs. Read more.
• Gamestop and Illuvium pen a new partnership. Read more.
• M80 Raises $3 million to expand 'Web3-Enabled' Esports organization. Read more.
• Warner Bros. and Eluvio partner up to unveil Superman Web3 movie experience. Read more.

Binance vs SEC: The Gloves Are Off!

TL: DR

• Binance vows to vigorously defend itself against the SEC's lawsuit.
• Binance states that it sought to cooperate with the SEC and pursue a settlement but was disheartened by the SEC's decision to litigate instead.
• The exchange pushes back against the SEC's claim that its practices put customer funds at risk and asserts that user assets are safe and secure.

Things are heating up In a battle between Binance and the U.S. SEC. Binance has vowed to defend itself "vigorously" against the SEC's recent lawsuit. The SEC accused Binance and its CEO, CZ, of violating U.S. securities laws and attempting to conceal their activities within the country.

In response, Binance issued a statement highlighting its previous efforts to cooperate with the SEC and negotiate a settlement regarding the agency's ongoing investigations. However, the exchange expressed disappointment that the SEC chose to abandon the negotiation process and instead proceeded with unilateral legal action. Binance's statement echoed the sentiments of critics who argue that the SEC's enforcement tactics lack the necessary nuance for dealing with the complexities of the cryptocurrency industry.

Furthermore, Binance firmly refuted the claim made in the SEC complaint that its practices endangered customer funds. The exchange emphasized that user assets on Binance and its affiliate platforms, including Binance.US, are safe and secure. Binance also made a significant point, stating that since it is not based in the U.S., the reach of the SEC's actions is limited.

In other news,

• FUD - Coinbase shares plummet as SEC sues rival crypto exchange Binance. Read more.
• DYdX’s token spikes almost 10% after SEC sues Binance. Read more.
• Gate.io threatens lawsuit against insolvency rumours. Read more.

Another Crypto Heist Shakes Up Atomic Wallet

TL: DR

• Atomic Wallet, a centralized storage and wallet service, experienced a breach over the weekend, resulting in the theft of approximately $35 million worth of various cryptocurrencies.
• The breach affected less than 1% of Atomic Wallet's monthly active users, with the last unauthorized transaction occurring on Saturday.

The crypto community witnessed another unfortunate incident over the weekend as Atomic Wallet, a centralized storage and wallet service, fell victim to a breach resulting in the theft of nearly $35 million worth of various tokens.

Atomic Wallet took to Twitter on Monday, reassuring users that the breach impacted "less than 1% of our monthly active users." The last drained transaction occurred on Saturday, and the team is diligently investigating and analyzing the attack. As of now, specific details about the breach have not been disclosed by Atomic Wallet.

Victims of the breach have been requested to submit relevant information through a Google Docs form to aid Atomic Wallet in their investigations. Some users reported that their crypto was stolen after a recent software update, while others claimed to be impacted despite not updating to the latest version, as revealed in messages from Atomic Wallet's official Telegram channel.

In other news,

• Cardano founder, Charles Hoskinson alerts community of AI scams. Read more.

Nvidia Plays the ACE Card With AI in Gaming

TL: DR

• Nvidia unveils NVIDIA Avatar Cloud Engine (ACE) demo at COMPUTEX 2023, showcasing AI's potential in gaming.
• ACE enables AI-generated characters with realistic facial animation and natural language interactions.
• Nvidia's ACE service aims to bring intelligence to non-player characters (NPCs) through AI-powered conversation systems and facial animation.
• Gaming giants like Blizzard and Ubisoft are testing AI in game development, with Ubisoft's Ghostwriter AI tool aiding NPC dialogue creation.

In a major demo at COMPUTEX 2023, Nvidia showcased its NVIDIA Avatar Cloud Engine (ACE) for Games, revealing the potential of AI in gaming. The demo featured an AI-generated rendering of a cyberpunk ramen shop and an NPC behind the bar with realistic facial animation and language interaction. Nvidia CEO Jensen Huang declared that AI is the future of video games, contributing to rendering, character animation, and natural language interactions. The company's ACE service aims to bring intelligence to NPCs by leveraging AI-powered conversation systems and facial animation generation.

Blizzard Entertainment and Ubisoft are also exploring the use of AI in game development, with Ubisoft introducing the Ghostwriter AI tool to assist in creating NPC dialogue drafts, and Blizzard reportedly planning to incorporate AI in NPC design.

As the gaming industry embraces artificial intelligence, metaverse platforms like Oncyber and Meta are also leveraging AI to enhance user experiences and content generation in virtual worlds. Oncyber has launched a tool based on OpenAI's GPT model, allowing users to modify and generate 3D content through written prompts. Meta executives believe that AI will play a crucial role in their metaverse plans, empowering their vision of a connected virtual world.

In other news,

• Crypto tracking firm Elliptic, is tracking hackers with AI. Read more.
• Kraken's new CTO sets Sights on AI's expanding role in crypto. Read more.