Pi is in Enclosed Mainnet. Pi Network isn’t affiliated with and hasn’t authorized any exchange listing.

 Mining crypto is hard.
Investing in crypto is risky.
Too many of us are left out of the cryptocurrency revolution.

Pi Network is aware of reports that several unauthorized third party exchanges, and potential unknown third parties, are seeking to list Pi or tokens purporting to be Pi, or some purported derivative of Pi, without the consent, authority or involvement of Pi Network.

It is important to reiterate that Pi is currently in the Enclosed Network and is not approved by Pi Network for listing on any exchange or for trading, and Pi Network was not involved with any of these purported postings or listings.

Currently, Pi Network recommends to all Pioneers and potential Pi users not to engage with any of these exchanges or third party actors as their actions are not affiliated with Pi Network, and could result in substantial loss or damage to Pi users. Pi Network is also requesting these posts and exchange listings removed, and evaluating additional actions with respect to the third parties and exchanges. In the interim, it is important to reiterate that the transaction of Pi through an exchange is explicitly prohibited during the Enclosed Mainnet period, and doing so would be a violation of Pi’s policies.

The unique innovative design of Pi’s Enclosed Network period is a strategic choice to build a network of true substance and utilities with the best interest of the network, the community and individual Pioneers in mind. The current Enclosed Network period of Mainnet allows Pi Network to focus on two priorities: mass KYC/migration and ecosystem utilities-building. Both are essential steps towards our ultimate objective of building a viable ecosystem to get ready for Open Mainnet.

Bitcoin Falls Back To USD10,000 As Worldwide Inflation Crisis Began!

 

Key points:

• U.S. stocks plunge, but some bounce off lows; Nasdaq down ~3.8%
• All major S&P 500 sectors red: cons disc down most
• Dollar, crude rise; gold falls; bitcoin swoons ~11%
• U.S. 10-Year Treasury yield jumps to ~3.35%

The bitcoin price has struggled since the first few months of 2022 as central bank monetary tightening squeezes assets across the board. The Fed is widely expected to hike rates by 50 basis points - the biggest rate increase in 22 years—in order to temper soaring inflation.

Now, a veteran trader has warned the bitcoin price could fall as low as $28,000, down $10,000 per bitcoin from its current price. 

Why is crypto crashing today? Cryptocurrency markets have crashed to a new low of this year today. The global market cap has shrunk to $1.02 trillion from $1.10 trillion recorded yesterday. The global cryptocurrency market cap has fallen by around $1 trillion this year while almost every top coin is now worth half or even less than their all-time highs.

The immediate trigger for the crypto crash appears to be a massive sell-off by investors amid heightened inflation fears. Investors are also continuing to stay away from riskier assets, which is reflecting in the stock markets as well.

Bitcoin, the biggest and most popular cryptocurrency, has fallen to $25,586 while almost all altcoins, starting from Ethereum, are bleeding prices since weekend.

"I still believe crypto is the most optimal hedge against these macroeconomic issues which is why institutional interest in the industry has only continued to grow,"

"Both venture capital funding and fund deployments into crypto are soaring at one of the fastest levels since the inception of #bitcoin."

US Regulator Investigate Binance BNB Token Probe By U.S. Money Laundering and Tax

 

June 6, 2022 (Reuters) - The U.S. Securities and Exchange Commission (SEC) is investigating whether crypto exchange Binance Holdings Ltd’s initial coin offering in 2017 broke the agency’s rules, Bloomberg reported, citing people familiar with the matter.

SEC investigators are examining if the offering of BNB token amounted to the sale of a security that should have been registered with the agency, the report here said on Monday.

The investigation adds to the troubles for Binance, one of the world’s largest crypto exchange, which is already plagued by legal issues and controversies.

Spokespersons for SEC and Binance did not immediately respond to Reuters requests for comments. (Reporting by Leroy Leo in Bengaluru)

 

The U.S. Securities and Exchange Commission (SEC) is examining whether Binance’s initial coin offering of its Binance coin (BNB) token in 2017 was an unregistered security offering that should have been registered with the regulatory agency, Bloomberg reported Monday, citing confidential sources.

• Without commenting on the details of the reported probe, a spokesperson for Binance told CoinDesk via email, "As the industry has grown at a rapid pace, we have been working very diligently to educate and assist law enforcement and regulators in the U.S. and internationally, while also adhering to new guidelines. We will continue to meet all requirements set by regulators."
   
  • BNB was trading down 4% after news of the report came out.
  • Binance is currently under investigation in the U.S. by the Justice Department, the Commodity Futures Trading Commission (CFTC) and the Internal Revenue Service. Binance is the world’s biggest crypto exchange and says it’s not domiciled in any one country.
  • The SEC is also investigating market-making companies owned or partially owned by Binance CEO Changpeng Zhao that do business with Binance.US, a U.S.-based affiliate of the global exchange, according to a person familiar with the review, Bloomberg reported.
  • According to the report, one of the SEC’s focuses is on whether Binance.US is wholly independent of the global exchange and whether employees may be involved in insider trading.
  • An SEC spokesperson declined to comment on the existence of any possible probe.

   

 

Gold price push to $1,900 after inflation rose to highest level in three decades!

The gold market is seeing new bullish momentum after U.S. inflation data rose to its highest level in more than three decades, and some analysts are looking for a move back to $1,900 an ounce in the near term.

According to some analysts, gold is catching a new bid as inflation pressures ramp up, raising concerns that the Federal Reserve will be behind the inflation curve.

"Inflation is here and it's only going to get worse," said Bob Haberkorn, senior commodities broker with RJO Futures. "There is a major concern that the Federal Reserve is limited to what it can do to stop inflation from rising. There is a real fear among investors that the Fed will lose control."

The latest inflation data pointed to broad-based increases in consumer goods. Food was up 5.3% from a year ago – the biggest increase since January 2009. Gasoline prices surged 6.1%, marking the biggest gain since March.

The rise in inflation comes as U.S. consumers start their holiday shopping and prepare for Thanksgiving.

Helping to support gold's breakout through critical resistance at $1,835 has been a drop in real interest rates. Following the latest Consumer Price Index data, real yields on 10-year notes dropped to a record low of -1.235%.

Along with the drop in real yields the break-even rate, the difference between nominal 10-year bond yields and Treasury Inflation-Protected Securities rose to 2.64%. Analysts note this indicates that bond markets are pricing in even more inflation risk.

While off their highs, gold prices last traded at $1,858 an ounce, up 1.5% on the day. The precious metal is currently trading at a five-month high.

Haberkorn added that he expects that this is just the start of gold's move higher. He said that his next target for gold is between $1,900 and $1,920.

"If gold is going to rally, it is because of this new inflation fear," he said.

Colin Cieszynski, chief market strategist at SIA Wealth Management, said that he also sees gold prices pushing to $1,920.

"This was a significant breakout for gold, and there is not much between here and $1,900," he said.

Cieszynski added that not only did gold break a significant resistance level, but it did so even as the U.S. dollar has pushed higher. The U.S. dollar index is currently trading near a one-year high back above 94.50 points.

"The fact that gold can break out when the U.S. dollar is rallying means that it has the momentum to move higher," said Cieszynski.

Darin Newsom, president of Darin Newsom analysis, said that he is also looking for gold to push higher in the near term. He added that there are signs that the U.S. dollar is topping out, which will benefit all major commodities.

"I'd look for Dec gold to possibly test that old group of highs, roughly the $1,875 to $1,915 range. That means the contract looks to have limited intermediate-term upside potential at this time," he said. "Weekly stochastics have moved above the overbought level of 80%, meaning buying interest could start to slow, but we are seeing no sign of a bearish reversal at this point. That could be a couple of weeks away yet."

While gold prices have room to move higher, some analysts noted that there is some initial resistance at $1,870 an ounce.

Source: kitco news