In this issue<\/strong><\/h3>\n\n- Japan \u2014 a new frontier for Binance?<\/li>\n
- AI art sweeps NFT sales<\/li>\n
- ETF buzz electrifies Bitcoin<\/li>\n<\/ol>\n\n
From the Editor\u2019s Desk<\/strong><\/p>\nDear Reader,<\/p>\n
It\u2019s been quite the week for Binance. The world\u2019s largest cryptocurrency exchange has been headline news on our pages for some time now. And that\u2019s no mean feat considering the Sam Bankman-Fried trial is still only a few weeks old and readers all over the world remain glued to their screens, waiting to learn the fate of crypto\u2019s most (in)famous individual.<\/p>\n
Second on that list, arguably, is Changpang Zhao, known to most as CZ. The Binance CEO and co-founder was a one-time mentor to SBF. Something of a crypto-older-brother to the FTX founder, Zhao was there for Bankman-Fried in the early days of the collapsed exchange, becoming one of the first investors and helping FTX off the ground.<\/p>\n
But he was also reportedly there as it all came crashing down. At one stage in November last year, when rumors of a multi-billion dollar shortfall in customer funds at FTX came to light, it appeared as though Zhao may step in to bail SBF out. But it wasn\u2019t to be. Zhao and Binance pulled out of an agreement to buy FTX at the last minute and\u2026 well\u2026 we all know what happened next.<\/p>\n
For some time before Bankman-Fried\u2019s rapid fall from grace, there had been whispers that Zhao was less than impressed by the FTX boss\u2019s apparent cozying-up to U.S. regulators. Some reports even allege that he had a hand in exposing the balance sheet discrepancies that brought the curtain down on FTX. It was Zhao, after all, who contributed to the run at FTX when he said he would sell all Binance\u2019s holdings in its native token FTT.<\/p>\n
Regardless of Zhao\u2019s alleged involvement in FTX\u2019s demise, this could and should have been a triumphant moment for Binance. The exchange\u2019s main rivals are no longer part of the picture. The company continues its outward expansion into territories new \u2014 Japan in particular representing a particularly promising growth market for the brand.\u00a0<\/p>\n
But it\u2019s not exactly smooth sailing elsewhere. Binance said it will no longer register new users in the U.K. on Monday in response to the country\u2019s new overseas promotion rules, while on Tuesday Binance.US announced it has suspended U.S. dollar withdrawals for U.S. customers. Add that to the announcement last week that Brazil\u2019s regulators want to indict Zhao for running a pyramid scheme, and the picture starts to look far less rosy.<\/p>\n
Of course, Binance remains a juggernaut. Its website claims the exchange has 150 million users worldwide, enjoying a daily transaction volume of US$65 billion. But the lay of the land has without doubt turned a little bumpy, while there\u2019s some really mountainous terrain up ahead.<\/p>\n
Where the journey leads is yet to be decided. But knowing Binance and Zhao, it\u2019s bound to be one heck of a ride.<\/p>\n
Until the next time,<\/p>\n
Angie Lau,
Founder and Editor-in-Chief
Forkast.News<\/em><\/p>\n<\/div>\n
\n1. <\/strong><\/strong><\/strong>Japan \u2014 a new frontier for Binance?<\/strong><\/strong><\/h3>\n![\"Binance](\"https:\/\/forkast.news\/wp-content\/uploads\/2023\/10\/Binance-Japan-1260x710.png\" "\\"Binance's")
Binance\u2019s official entry into Japan signals a shift towards the Asia-Pacific, revitalizing the Japanese crypto scene and positioning the nation as a potential crypto haven amid global regulatory challenges. Image: Canva<\/figcaption><\/figure>\nBinance Japan started trading operations Aug. 1, launching with an impressive 34 coins on its platform. The number might be a fraction of what Binance\u2019s global exchange offers, but for the Japanese crypto market, it marks a significant leap. The number places Binance Japan at the forefront of the domestic industry in terms of cryptocurrency variety.<\/p>\n
\n- The official arrival of Binance, the world\u2019s largest cryptocurrency exchange, as a licensed entity in Japan, signals challenging times ahead for the multitude of smaller domestic exchanges already grappling with dwindling liquidity and an oversaturated market. As noted by Norbert Gehrke, founder of the Japan FinTech Observer newsletter, the dominance of Binance could potentially kill off many of these smaller competitors.<\/li>\n<\/ul>\n
\n- Binance has faced regulatory hurdles in Japan in the past. It received reprimands from the Financial Services Agency (FSA) for operating as an unlicensed online exchange in both 2018 and 2021. However, the company\u2019s strategic acquisition of the Sakura Exchange BitCoin platform last year fast-tracked its official re-entry into the country.<\/li>\n<\/ul>\n
\n- Binance\u2019s interest in the Japanese market showcases an industry-wide pivot toward the Asia Pacific market amidst growing U.S. resistance to crypto.<\/li>\n<\/ul>\n
\n- Despite past frictions, the country\u2019s pro-crypto stance \u2014 led by Prime Minister Fumio Kishida\u2019s endorsement of Web3 technologies \u2014 hints at a promising future for foreign crypto investments in the country. But some local competitors have raised concerns over Binance\u2019s swift licensing process, suggesting a potential double standard.<\/li>\n<\/ul>\n
\n- While Binance\u2019s global operations face legal scrutiny in various countries, experts like Tokyo-based fintech lawyer So Saito believe that existing Japanese regulations will safeguard local investors. As they were during the FTX collapse, Japanese assets are expected to remain secure even if Binance Global encounters challenges.<\/li>\n<\/ul>\n
\n- On the positive side for Binance and Japan, the entry of a global giant might just be the spark the domestic crypto industry needs to really get up and running. The market is shifting away from one-note cryptocurrency trading to the broader potentials of Web3. If developers can integrate Japan\u2019s traditional strengths in areas like anime, manga, and video games, then the future seems ripe with opportunity.\u00a0<\/li>\n<\/ul>\n
\n- The hope, as expressed by industry advocates, is that Binance\u2019s presence will rejuvenate Japan\u2019s crypto space, drawing in more foreign interest and innovation much like the crypto hubs of Dubai and Singapore.<\/li>\n<\/ul>\n\n
Forkast.Insights | What does it mean?<\/strong><\/p>\nThe picture can look a little bleak for Binance in the West. U.S. regulation in particular and the threat of legal action there has slowed the company\u2019s momentum. It has been forced to beat a hasty retreat from Canada and a host of European jurisdictions. The business landscape is also growing increasingly complicated in the U.K. The exchange announced Monday it will no longer accept new customers in the country in compliance with local regulations.<\/p>\n
Binance is far from alone in facing these challenges. Crypto businesses are struggling across the board. It\u2019s just that Binance\u2019s size and industry heft means it inevitably attracts a lot of the ire aimed at the wider industry. And like the wider industry, it\u2019s now looking for opportunities beyond Europe and the U.S. \u2014 powerhouses for both traditional finance and the digital economy \u2014 toward the Asia-Pacific region, which is emerging as something of a crypto haven.<\/p>\n
One key region for the company is Japan. Blockchain intelligence firm Chainalysis shows that while India leads the world in crypto adoption and other APAC regions such as Indonesia and Vietnam are accelerating their crypto uptake, blockchain adoption in Japan is also significant.\u00a0<\/p>\n
The nation\u2019s government is never shy about promoting Japan as a regional hub for Web3, which it has positioned over the past year as a key economic growth strategy. It aims to use blockchain technologies like non-fungible tokens (NFTs) and decentralized autonomous organizations (DAOs) to unlock hidden value in Japan\u2019s graying society and address the rapid onset of regional depopulation.<\/p>\n
But exactly how it aims to do that remains unclear. While the will is there, Japanese developers express a lack of blockchain understanding among policy-makers. There is therefore a sense that a current wave of government enthusiasm for Web3 could fizzle out without any specific strides for the industry. Which is where Binance could step in.<\/p>\n
The exchange was able to fast-track its official arrival in Japan this August despite past run-ins with regulators. Despite the legal baggage it carries elsewhere, there is clearly a desire among policymakers and industry advocates to leverage the experience and technical knowhow that Binance brings to the table.<\/p>\n
Could Japan emerge as a home-away-from-home for the company? The official arrival of Binance Japan has at least stirred up a lot of conversation and crypto interest in the country.<\/p>\n<\/div>\n
\n2. <\/strong><\/strong><\/strong>Art and charity over apes in NFTs<\/strong><\/strong><\/h3>\n![\"Winds](\"https:\/\/forkast.news\/wp-content\/uploads\/2023\/10\/Winds-of-Yawanawa.png\" "\\"Binance's")
Refik Anadol\u2019s AI-art NFTs bridge cutting-edge tech and cultural preservation, generating millions and benefiting the Yawanawa tribe. Source: CryptoSlam<\/a><\/figcaption><\/figure>\nRefik Anadol\u2019s artificial intelligence (AI)-created art collection \u201cWinds of Yawanawa\u201d is currently the top non-fungible token collection on the Ethereum blockchain.\u00a0<\/p>\n
\n- Over US$3.7 million in secondary sales of the collection have been recorded over the past seven days, marking a 446% increase since the collection\u2019s unveiling last week.<\/li>\n
- Winds of Yawanawa was responsible for 11.4% of Ethereum\u2019s US$32 million in total NFT sales the past week.<\/li>\n
- The highest sales<\/a> within the collection include one NFT for 23 ETH (US$36.560.17), and 17 individuals sales at more than 15 ETH (over US$23,000) each.<\/li>\n
- Refik Anadol\u2019s art was featured<\/a> on the exterior of The Sphere, an immersive events structure in Las Vegas, during the venue\u2019s opening in September.<\/li>\n
- The Museum of Modern Art welcomed<\/a> Refik Anadol\u2019s \u201cUnsupervised \u2014 Machine Hallucinations\u201d NFT into their permanent collection, making it the first NFT to be owned by MoMA.<\/li>\n<\/ul>\n\n
Forkast.Insights | What does it mean?<\/strong><\/p>\nIt\u2019s not often that art gets a chance to take center stage in NFTs, but when a milestone such as Refik Anadol\u2019s recent accomplishments arrives, it must be talked about.\u00a0<\/p>\n
For the past few weeks, Refik has represented the heart of NFTs, serving as a much needed distraction from the current 33-month low point for the NFT market. His art and its success has reminded the collective community about the roots of NFT technology, which is the provenance it preserves, and the financial opportunities it offers to artists.<\/p>\n
While Anadol\u2019s art being featured on the Las Vegas Sphere and being acquired<\/a> by the Museum of Modern art are milestones for NFTs, they\u2019re equally as important for the world of AI art. His work lives at the cutting edge of two fronts, showcasing how AI can be used as a tool to create beauty, while using technology to preserve it.\u00a0<\/p>\nUsing data from Acre Brazil\u2019s Yawanawa tribe\u2019s village in the Amazon rainforest, Refik painted wind speeds, direction, gusts, and temperatures onto a digital canvas with AI tools to create the iconic 1,000 edition \u201cWinds of Yawanawa\u201d collection.\u00a0<\/p>\n
The collection also highlights another important side of NFTs, one that is rarely talked about. We\u2019re accustomed to hearing about scams and manipulations across the blockchain industry, but seldom do we hear about good deeds in the NFT ecosystem. The \u201cWinds of Yawanawa\u201d collection was co-created with artists from the Yawanawa tribe, and because of that collaboration, the tribe earns royalties for each NFT sold on secondary markets.\u00a0<\/p>\n
To date the \u201cWinds of Yawanawa\u201d collection<\/a> has traded for over US$9.4 million, with 10% of all sales going directly to the Yawanawa tribe. While royalties are no longer enforced on marketplaces, most art collectors happily honor artists\u2019 requested royalties.\u00a0In a space that witnessed<\/a> a US$6.2 million generative art sale over the summer, a US$69 million Beeple NFT sale in 2021, the Art Blocks<\/a> platform\u2019s US$1.4 billion in all-time sales, and now Refik Anadol\u2019s milestone collection of AI art, a picture is being painted on the blockchain that may help you understand just how significant the art movement in NFTs really is.<\/p>\n<\/div>\n
\n3. Finks forecast: Golden Bitcoin era?<\/strong><\/strong><\/strong><\/strong><\/strong><\/h3>\n![\"Bitcoin](\"https:\/\/forkast.news\/wp-content\/uploads\/2023\/10\/Bitcoin-ETF-BlackRock-Larry-Fink-1260x710.png\" "\\"Binance's")
BlackRock\u2019s potential Bitcoin ETF signals growing institutional crypto interest, highlighting the asset\u2019s responsiveness to global events and the need for due diligence in the digital age. Image: Canva<\/figcaption><\/figure>\nBlackRock CEO Larry Fink addressed<\/a> the recent fleeting surge in Bitcoin prices during an appearance on the Fox Business broadcast on Monday, highlighting the immense global interest in cryptocurrency.<\/p>\n\n- This surge was initially fueled by a rumor that the U.S. Securities and Exchange Commission (SEC) had given the green light to BlackRock\u2019s application<\/a> for a spot Bitcoin exchange-traded fund (ETF).<\/li>\n
- Fink refrained from delving into specifics but noted that the rally wasn\u2019t solely based on the rumor. He attributed the upswing to worldwide concerns about the current Israel-Palestine conflict and what he described as escalating global terrorism. He discussed the growing trend of investors moving towards safer assets, whether it\u2019s treasuries, gold, or even \u2014 at a time of global disruption in traditional markets \u2014 cryptocurrencies.<\/li>\n
- The ETF rumor and spike in Bitcoin price originated from Cointelegraph, a cryptocurrency news platform. It claimed early Monday on social media platform X (formerly Twitter) that the SEC had approved BlackRock\u2019s spot Bitcoin ETF application.<\/li>\n
- However, Cointelegraph later retracted the claim. In the meantime, Bitcoin\u2019s value briefly spiked<\/a> to nearly US$30,000 before stabilizing back to within the US$28,000 range.<\/li>\n
- In June, BlackRock lodged an application for its iShares Bitcoin Trust with the SEC. Should it gain approval, the firm plans to collaborate with Coinbase Custody as its custodian.<\/li>\n
- Despite an influx of spot Bitcoin ETF applications from various institutions, the SEC has delayed a decision on approvals. Nevertheless, Steven Schoenfeld, a prominent figure in the industry, anticipates the SEC to approve all applications in the coming three to six months.<\/li>\n<\/ul>\n\n
Forkast.Insights | What does it mean?<\/strong><\/p>\nBitcoin\u2019s latest major price swing was fueled by the industry\u2019s longing to see a spot Bitcoin ETF open for business in the world\u2019s largest economy. It not only demonstrated investors\u2019 appetite for cryptocurrencies, as noted by BlackRock\u2019s Larry Fink. It also revealed the asset\u2019s responsiveness to unfolding events and hearsay.\u00a0<\/p>\n
The quick correction from Cointelegraph after the outlet\u2019s mistaken ETF claim reflects the lightning-fast dissemination of information in the internet era. It fires a clear message to the financial community about the importance of due diligence in today\u2019s rapid information age.<\/p>\n
BlackRock\u2019s flirtation with the Bitcoin ETF sphere is a sign of the times, pointing toward a growing institutional interest in digital assets. A potential alliance with platforms like Coinbase Custody, contingent on regulatory blessings, could mark the beginning of an advanced framework for further institutional forays into the crypto world.<\/p>\n
For investors, a spot Bitcoin ETF would become another channel to legally bet on the success of digital assets. But for existing cryptocurrency industry participants, it would serve as a lifeline that brings much needed funds, liquidity and mainstream interest into the sector.\u00a0<\/p>\n
The so-called \u201ccrypto winter\u201d and wider macroeconomic headwinds have hastened the demise of multiple Web3 firms. Even the strongest and the fittest companies left behind now tend to operate with a much smaller workforce and war chest. The introduction of a spot Bitcoin ETF would be a turning point.\u00a0<\/p>\n
While rejuvenating the dwindling reserves of these firms, this new financial instrument could also instill renewed confidence among stakeholders. As mainstream investors gain an easier and more regulated avenue into Bitcoin investment, the resultant inflow of capital could stabilize the volatile crypto market, fostering an environment ripe for increased growth and innovation.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
In this issue Japan \u2014 a new frontier for Binance? AI art sweeps NFT sales ETF buzz electrifies Bitcoin From the Editor\u2019s Desk Dear Reader, It\u2019s been quite the week for Binance. The world\u2019s largest cryptocurrency exchange has been headline news on our pages for some time now. And that\u2019s no mean feat considering the […]<\/p>\n","protected":false},"author":2,"featured_media":177225,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-177224","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/177224","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=177224"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/177224\/revisions"}],"predecessor-version":[{"id":177227,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/177224\/revisions\/177227"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/177225"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=177224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=177224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=177224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
From the Editor\u2019s Desk<\/strong><\/p>\n Dear Reader,<\/p>\n It\u2019s been quite the week for Binance. The world\u2019s largest cryptocurrency exchange has been headline news on our pages for some time now. And that\u2019s no mean feat considering the Sam Bankman-Fried trial is still only a few weeks old and readers all over the world remain glued to their screens, waiting to learn the fate of crypto\u2019s most (in)famous individual.<\/p>\n Second on that list, arguably, is Changpang Zhao, known to most as CZ. The Binance CEO and co-founder was a one-time mentor to SBF. Something of a crypto-older-brother to the FTX founder, Zhao was there for Bankman-Fried in the early days of the collapsed exchange, becoming one of the first investors and helping FTX off the ground.<\/p>\n But he was also reportedly there as it all came crashing down. At one stage in November last year, when rumors of a multi-billion dollar shortfall in customer funds at FTX came to light, it appeared as though Zhao may step in to bail SBF out. But it wasn\u2019t to be. Zhao and Binance pulled out of an agreement to buy FTX at the last minute and\u2026 well\u2026 we all know what happened next.<\/p>\n For some time before Bankman-Fried\u2019s rapid fall from grace, there had been whispers that Zhao was less than impressed by the FTX boss\u2019s apparent cozying-up to U.S. regulators. Some reports even allege that he had a hand in exposing the balance sheet discrepancies that brought the curtain down on FTX. It was Zhao, after all, who contributed to the run at FTX when he said he would sell all Binance\u2019s holdings in its native token FTT.<\/p>\n Regardless of Zhao\u2019s alleged involvement in FTX\u2019s demise, this could and should have been a triumphant moment for Binance. The exchange\u2019s main rivals are no longer part of the picture. The company continues its outward expansion into territories new \u2014 Japan in particular representing a particularly promising growth market for the brand.\u00a0<\/p>\n But it\u2019s not exactly smooth sailing elsewhere. Binance said it will no longer register new users in the U.K. on Monday in response to the country\u2019s new overseas promotion rules, while on Tuesday Binance.US announced it has suspended U.S. dollar withdrawals for U.S. customers. Add that to the announcement last week that Brazil\u2019s regulators want to indict Zhao for running a pyramid scheme, and the picture starts to look far less rosy.<\/p>\n Of course, Binance remains a juggernaut. Its website claims the exchange has 150 million users worldwide, enjoying a daily transaction volume of US$65 billion. But the lay of the land has without doubt turned a little bumpy, while there\u2019s some really mountainous terrain up ahead.<\/p>\n Where the journey leads is yet to be decided. But knowing Binance and Zhao, it\u2019s bound to be one heck of a ride.<\/p>\n Until the next time,<\/p>\n Angie Lau, Binance Japan started trading operations Aug. 1, launching with an impressive 34 coins on its platform. The number might be a fraction of what Binance\u2019s global exchange offers, but for the Japanese crypto market, it marks a significant leap. The number places Binance Japan at the forefront of the domestic industry in terms of cryptocurrency variety.<\/p>\n Forkast.Insights | What does it mean?<\/strong><\/p>\n The picture can look a little bleak for Binance in the West. U.S. regulation in particular and the threat of legal action there has slowed the company\u2019s momentum. It has been forced to beat a hasty retreat from Canada and a host of European jurisdictions. The business landscape is also growing increasingly complicated in the U.K. The exchange announced Monday it will no longer accept new customers in the country in compliance with local regulations.<\/p>\n Binance is far from alone in facing these challenges. Crypto businesses are struggling across the board. It\u2019s just that Binance\u2019s size and industry heft means it inevitably attracts a lot of the ire aimed at the wider industry. And like the wider industry, it\u2019s now looking for opportunities beyond Europe and the U.S. \u2014 powerhouses for both traditional finance and the digital economy \u2014 toward the Asia-Pacific region, which is emerging as something of a crypto haven.<\/p>\n One key region for the company is Japan. Blockchain intelligence firm Chainalysis shows that while India leads the world in crypto adoption and other APAC regions such as Indonesia and Vietnam are accelerating their crypto uptake, blockchain adoption in Japan is also significant.\u00a0<\/p>\n The nation\u2019s government is never shy about promoting Japan as a regional hub for Web3, which it has positioned over the past year as a key economic growth strategy. It aims to use blockchain technologies like non-fungible tokens (NFTs) and decentralized autonomous organizations (DAOs) to unlock hidden value in Japan\u2019s graying society and address the rapid onset of regional depopulation.<\/p>\n But exactly how it aims to do that remains unclear. While the will is there, Japanese developers express a lack of blockchain understanding among policy-makers. There is therefore a sense that a current wave of government enthusiasm for Web3 could fizzle out without any specific strides for the industry. Which is where Binance could step in.<\/p>\n The exchange was able to fast-track its official arrival in Japan this August despite past run-ins with regulators. Despite the legal baggage it carries elsewhere, there is clearly a desire among policymakers and industry advocates to leverage the experience and technical knowhow that Binance brings to the table.<\/p>\n Could Japan emerge as a home-away-from-home for the company? The official arrival of Binance Japan has at least stirred up a lot of conversation and crypto interest in the country.<\/p>\n<\/div>\n Refik Anadol\u2019s artificial intelligence (AI)-created art collection \u201cWinds of Yawanawa\u201d is currently the top non-fungible token collection on the Ethereum blockchain.\u00a0<\/p>\n Forkast.Insights | What does it mean?<\/strong><\/p>\n It\u2019s not often that art gets a chance to take center stage in NFTs, but when a milestone such as Refik Anadol\u2019s recent accomplishments arrives, it must be talked about.\u00a0<\/p>\n For the past few weeks, Refik has represented the heart of NFTs, serving as a much needed distraction from the current 33-month low point for the NFT market. His art and its success has reminded the collective community about the roots of NFT technology, which is the provenance it preserves, and the financial opportunities it offers to artists.<\/p>\n While Anadol\u2019s art being featured on the Las Vegas Sphere and being acquired<\/a> by the Museum of Modern art are milestones for NFTs, they\u2019re equally as important for the world of AI art. His work lives at the cutting edge of two fronts, showcasing how AI can be used as a tool to create beauty, while using technology to preserve it.\u00a0<\/p>\n Using data from Acre Brazil\u2019s Yawanawa tribe\u2019s village in the Amazon rainforest, Refik painted wind speeds, direction, gusts, and temperatures onto a digital canvas with AI tools to create the iconic 1,000 edition \u201cWinds of Yawanawa\u201d collection.\u00a0<\/p>\n The collection also highlights another important side of NFTs, one that is rarely talked about. We\u2019re accustomed to hearing about scams and manipulations across the blockchain industry, but seldom do we hear about good deeds in the NFT ecosystem. The \u201cWinds of Yawanawa\u201d collection was co-created with artists from the Yawanawa tribe, and because of that collaboration, the tribe earns royalties for each NFT sold on secondary markets.\u00a0<\/p>\n To date the \u201cWinds of Yawanawa\u201d collection<\/a> has traded for over US$9.4 million, with 10% of all sales going directly to the Yawanawa tribe. While royalties are no longer enforced on marketplaces, most art collectors happily honor artists\u2019 requested royalties.\u00a0In a space that witnessed<\/a> a US$6.2 million generative art sale over the summer, a US$69 million Beeple NFT sale in 2021, the Art Blocks<\/a> platform\u2019s US$1.4 billion in all-time sales, and now Refik Anadol\u2019s milestone collection of AI art, a picture is being painted on the blockchain that may help you understand just how significant the art movement in NFTs really is.<\/p>\n<\/div>\n BlackRock CEO Larry Fink addressed<\/a> the recent fleeting surge in Bitcoin prices during an appearance on the Fox Business broadcast on Monday, highlighting the immense global interest in cryptocurrency.<\/p>\n Forkast.Insights | What does it mean?<\/strong><\/p>\n Bitcoin\u2019s latest major price swing was fueled by the industry\u2019s longing to see a spot Bitcoin ETF open for business in the world\u2019s largest economy. It not only demonstrated investors\u2019 appetite for cryptocurrencies, as noted by BlackRock\u2019s Larry Fink. It also revealed the asset\u2019s responsiveness to unfolding events and hearsay.\u00a0<\/p>\n The quick correction from Cointelegraph after the outlet\u2019s mistaken ETF claim reflects the lightning-fast dissemination of information in the internet era. It fires a clear message to the financial community about the importance of due diligence in today\u2019s rapid information age.<\/p>\n BlackRock\u2019s flirtation with the Bitcoin ETF sphere is a sign of the times, pointing toward a growing institutional interest in digital assets. A potential alliance with platforms like Coinbase Custody, contingent on regulatory blessings, could mark the beginning of an advanced framework for further institutional forays into the crypto world.<\/p>\n For investors, a spot Bitcoin ETF would become another channel to legally bet on the success of digital assets. But for existing cryptocurrency industry participants, it would serve as a lifeline that brings much needed funds, liquidity and mainstream interest into the sector.\u00a0<\/p>\n The so-called \u201ccrypto winter\u201d and wider macroeconomic headwinds have hastened the demise of multiple Web3 firms. Even the strongest and the fittest companies left behind now tend to operate with a much smaller workforce and war chest. The introduction of a spot Bitcoin ETF would be a turning point.\u00a0<\/p>\n While rejuvenating the dwindling reserves of these firms, this new financial instrument could also instill renewed confidence among stakeholders. As mainstream investors gain an easier and more regulated avenue into Bitcoin investment, the resultant inflow of capital could stabilize the volatile crypto market, fostering an environment ripe for increased growth and innovation.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":" In this issue Japan \u2014 a new frontier for Binance? AI art sweeps NFT sales ETF buzz electrifies Bitcoin From the Editor\u2019s Desk Dear Reader, It\u2019s been quite the week for Binance. The world\u2019s largest cryptocurrency exchange has been headline news on our pages for some time now. And that\u2019s no mean feat considering the […]<\/p>\n","protected":false},"author":2,"featured_media":177225,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-177224","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/177224","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=177224"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/177224\/revisions"}],"predecessor-version":[{"id":177227,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/177224\/revisions\/177227"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/177225"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=177224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=177224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=177224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Founder and Editor-in-Chief
Forkast.News<\/em><\/p>\n<\/div>\n
\n1. <\/strong><\/strong><\/strong>Japan \u2014 a new frontier for Binance?<\/strong><\/strong><\/h3>\n
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\n2. <\/strong><\/strong><\/strong>Art and charity over apes in NFTs<\/strong><\/strong><\/h3>\n
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\n3. Finks forecast: Golden Bitcoin era?<\/strong><\/strong><\/strong><\/strong><\/strong><\/h3>\n
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