Here are some of the major developments from the world of crypto over the past few days.
Solana Labs, the firm behind layer-1 blockchain Solana, may soon be dragging many more non-crypto native brands and customers into Web3 without their knowledge. On June 12, the company formally introduced Bond, its new blockchain-based consumer interaction platform focused at assisting brands in driving long-term loyalty.
Solana Labs claims that the new platform will overcome "critical limitations" in today's loyalty programs, such as losing touch with the final customer if a product is ever resold or donated. Customers may authenticate the legitimacy of a product using digital identity, and manufacturers can trace their products even if they are resold or given away.
The Memecoins like Dogwifhat (WIF), Bonk (BONK), Popcat (POPCAT), and Myro (MYRO) are among the well-known ones hosted on the Debian network. PayPal USD Ptsd $1.00, to the network, institutional interest in it has also increased, since PayPal introduced its stablecoin, making PYUSD purchases more cost-effective for small amounts. Though there aren't many indications of activity on its GitHub page, it looks that at least seven firms use Open Loyalty wallets.
Gary Gensler, Chair of the United States Securities and Exchange Commission, told legislators that the regulator might sign off on final licenses for the listing and trading of spot Ether ETH $3,517 exchange-traded funds (ETFs) within three months. The SEC authorized filings for eight businesses on 23 may; nonetheless, ETFs require S-1 permission to trade in the United States.
Tennessee Senator Bill Hagerty questioned Gensler about why the commission had not completely approved Ether ETFs, alleging the SEC chair was not prioritizing a constructive set of rules for the crypto business. The Ethereum exchange-traded product of filings before us from stock exchanges Gensler estimated that eight or nine of them were collectively approved.
In an interview on June 5, the SEC chair warned that final spot Ether ETF approvals will take some time. The SEC has approved the asset manager's 19b-4 submission, as well as applications from Fidelity, Grayscale, Bitwise, VanEck, Ark, Invesco Galaxy, and Franklin Templeton, but it is unknown which company will have the first crack at the apple once the S-1 registration statements are completed.
BNB Chain announced a collaboration with Binance’s venture arm to launch an incubation alliance to support early Web3 projects. BNB Chain said that its new BNB Incubation Alliance (BIA) would allow projects to enter the network’s 10-week accelerator for builders, founders and developers. BNB Chain claims that BIA participants will be chosen through worldwide events.
The blockchain network said that it would engage with venture capitalists, incubators, and developer communities to host events throughout the world. Through these events, the blockchain network will select projects for incubation. BNB Chain stated that the events will focus on early-stage blockchain ventures in the incubation stage, prior to or following product launch.
The partnership will provide rising talent with the resources, expertise, and network they require to thrive, as stated by the BNB Chain Core Development Team. BNB's recent gains have exceeded those of the whole cryptocurrency market. In the first six days of June, BNB climbed by 19%, while the market only increased by 4.2%.