DeFi trade activity saw a sudden spike over the past week after the US Securities and Exchange Commission (SEC) initiated legal actions against Binance.US and Coinbase.
Prior to this development, the top 100 DeFi tokens by market capitalization saw their total value locked plummeting below $50 billion amid a bearish sentiment.
The SEC is also reportedly pursuing charges against DEX, a decentralized exchange, although actions against crypto exchanges like Binance.US and Coinbase drew more attention.
Crypto venture capital Paradigm has criticized SEC's action.
Meanwhile, a US district court has dismissed a complaint against PoolTogether, a DeFi protocol, in a separate case. The community members reportedly paid the legal fees with the $1.4 million it raised from the nonfungible token (NFT) auction in 2022.
Apple Vision Pro Fails To Impress Mark Zuckerberg
Mark Zuckerberg thinks Apple’s new device is designed for solitary use. Zuckerberg’s technology giant Meta has been struggling to establish itself as a leader in virtual and augmented reality. His comments come after Apple's recent foray into the segment sparked interest in the market. Apple recently released its Vision Pro, a mixed-reality headset.
The Verge reported that Zuckerberg expressed interest in the Apple product, although he had not yet used it. He told the web portal that Meta had “already explored” the limitations imposed by laws and physics and that Apple's solution is not wholly novel. Zuckerberg added that Apple Vision Pro’s higher resolution display has increased its energy use and costs manifold.
Kraken NFT Marketplace Exits Beta Phase
Cryptocurrency exchange Kraken has announced the completion of the beta phase of its NFT marketplace. The platform announced that it increased the NFT collections from 70 to over 250. Kraken said it will keep expanding its marketplace with new collections. The company also revealed that it will extend support to the Polygon Network and the Reddit Collectible Avatars. Kraken said it will not charge petrol taxes for buying or selling NFTs on the platform.