As Memeinator gains momentum, the Crypto Fear and Greed Index increases
Binance settled with the SEC and agreed to pay $4.3 billion.
Changpeng Zhao agreed to step down as CEO and pay $50 million.
Memeinator continues its token sale, raising over $1.4 million.
The crypto fear and greed index remained in the green this week, despite the industry going through tough challenges. Crypto tokens such as Superverse (SUPER), GameSwift and EthereumPoW more than doubled as Bitcoin rose above $38,000. Overall, the total market value of all digital currencies approached the $1.5 trillion mark.
Woe to Binance and Kraken
The crypto industry had several important events this week. It all started with the Securities and Exchange Commission (SEC) filing a major lawsuit against Kraken, one of the largest crypto exchanges in the world.
The SEC alleged that the company operated as an unregistered securities exchange, putting millions of customers at risk. Brokers, distributors and clearing services operate illegally. In addition, the exchange does not do proper record keeping, and connects the customer's money.
A day later, the SEC reached an agreement with Binance, the largest exchange in the world. As part of the settlement, the company's founder and CEO, Changpeng Zhao, agreed to step down and pay a $50 million fine. The exchange will also pay more than $4 billion in fines.
Therefore, the price action of cryptocurrencies is a sign that investors have accepted new actions on Binance. Additionally, regulatory challenges have been hanging around the crypto industry over the past few months. In a statement from JPMorgan analysts:
“Its market share losses should be reversed in the future, and perhaps in part, once the implications of the settlement on Binance's operations and business model become clearer.”
The Memeinator token sale is doing well.
Meanwhile, Memeinator continues to perform well as token sales continue to accelerate. According to the website, the developers have so far raised over $1.49 billion from growing investor interest.
According to the data, more than 300,000 people entered the promotional campaign, and the winner will get a ticket to go to space in the coming months. A Virgin Galactic trip is said to cost more than $200,000.
Memeinator is considering using two important themes. First, it is a meme coin that wants to overtake other meme coins like MemeCoin (MEME), Pepe, and Bonk. All these signs have increased recently, creating millionaires on the way.
Second, there is the emerging theme of Artificial Intelligence (AI) after the success of ChatGPT, Bard AI and Anthroponic. Recently, AI tokens like SingularityNET (AGIX) and Fetch AI have been some of the best performers in the industry. So, there is a good chance that MMTR token will be listed. You can buy MMTR token here.
There are risks to investing in Memeinator. As we have seen with other symbols, there is a risk that the price will not increase after listing. There is also a risk of pumping and garbage disposals. Therefore, you should only invest funds that you can afford to lose.
