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☕️The Morning Cup: A new AI tool could revolutionize contract and corporate filing analysis, Metaverse Fashion Week is underway
Good morning, good day, and good evening. Welcome back to The Morning Cup. It’s your weekly recap of the latest in crypto news and your start to the week, no matter where you are. Don’t worry, we’ve selected just what you need to stay up-to-date, so you won’t spend time pouring through the news you don’t need, only the news you care about.
📈📉 Market Watch!
BTC’s price falls amid CFTC suit against Binance
After an incredible week of reaching $28K, BTC is back down below $27K after the CFTC (Commodity Futures Trading Commission), a US entity regulating the derivatives market, sued crypto exchange Binance. In the suit, the CFTC alleges that the exchange sought to onboard US users, which is in violation of compliance rules.
The top gainers for the last 24 hours on Poloniex are BID/USDT, XRP/USDT, XCAD/USDT, ZEC/USDT, and KON/USDT.
🗞️ So, what happened?
This year’s Metaverse Fashion Week will go multi-versal
In its 2nd annual Metaverse Fashion Week, industry leader Decentraland will host various well-known fashion brands such as Balmain, Coach and Dolce & Gabbana for an event that will not only give attendees a view into the future of digital fashion, but also interoperability between metaverses.
The theme for this year is called Future Heritage, which Decentraland says represents the linking of digital and traditional fashion. This means digital designers will have the chance to network and collaborate with traditional brands like those listed above.
While this year marks the participation of a lot of big names in fashion, equally big is the presence of two other Metaverse projects, Spatial and Over. The former is itself a metaverse platform and the latter is an “augmented reality (AR) layer that displays virtual assets on top of the real world”. Throughout the fashion week, various events will be able to be experienced in different metaverses in addition to Decentraland’s.
AI for corporate filings
An engineer in the UK has built an AI application that can analyze thousands of pages in PDFs of corporate filings. Mayo Oshin, the engineer in question, said he built the AI to “‘chat’ with and analyze multiple PDF files (~1000 pages) across @elonmusk’s Tesla 10-k annual reports” in a Twitter post detailing the new tool.
The project, Oshin says, is meant to demonstrate how AI can be used to analyze large swaths of data in order for users to pull relevant data at will. In the world of legal contracts, annual reports and the like, this sort of tool could vastly revolutionize how reports and contracts are read, analyzed, and appraised.
CFTC Sues Binance
Cryptocurrency exchange Binance has been sued by the CFTC because of alleged violations of U.S. compliance laws. In its suit, the US Commodity Futures Trading Commission is saying that Binance solicited US customers while it wasn’t registered to operate in the US. Furthermore, the suit alleges that Binance directed US customers on “how best to evade Binance’s access controls” and that it is “engaged in off-exchange commodity futures transactions” (Coindesk).
This development is the latest in a broader effort by US regulatory bodies to crack down and tighten enforcement around cryptocurrencies. As reported in the last edition of the Morning Cup, there has been the answer from exchanges like Coinbase that while federal regulatory agencies in the US have been making stronger claims of rules violations towards various companies in the crypto sector, they have not provided enough clarity for a meaningful way forward with these companies.
🤑 New Listings on Poloniex
Here’s what we’ve listed recently:
New Coins
Futures
📌 ARB/USDT
🔍 DYOR before trading
Polopedia
This week we covered Curve Finance, the DEX focused on stablecoin swapping!
Crypto Glossary
A testnet is, as it suggests, a blockchain’s network that is used purely for testing. Transactions that happen here don’t have any real-world value. Well-known testnets include Ethereum’s Ropsten and Goerli networks. Before an update is fully launched on blockchain’s like Ethereum, developers will work out all the kinks and flaws on its test network(s). This term is used to distinguish these networks from mainnets, which handle transactions that have actual value.
What’s happening here at Poloniex?
This is what Poloniex’s week looked like
Highlights for the week
Campaigns
Our recap of ongoing campaigns that YOU can get involved in!
ARB Futures Listing: Enjoy 0-Fee Trading and Win from 15,000 USDT
Invite Friends to Join in the BLUR Trading Contest for a chance to win BTT!
Hold IGU to Earn up to 100% APY with Polo Earn
The community megaphone📢
Highlights from the community
https://twitter.com/i/spaces/1OdKrzANZgkKX
https://twitter.com/Poloniex/status/1639492308663148545
https://twitter.com/Poloniex/status/1639137465708544001
Poloniex Exchange on Twitter: "Telegram now supports $USDT transfers! 📲🥳Join Poloniex TG ▶️ https://t.co/ipkJUs09WsBuy USDT ▶️ https://t.co/NOYr8BrpdG#Telegram #USDT #poloniex #crypto pic.twitter.com/VH7pmPRhgB / Twitter"
Telegram now supports $USDT transfers! 📲🥳Join Poloniex TG ▶️ https://t.co/ipkJUs09WsBuy USDT ▶️ https://t.co/NOYr8BrpdG#Telegram #USDT #poloniex #crypto pic.twitter.com/VH7pmPRhgB
And that about covers it for this week! Curious about our campaigns or upcoming events? Give us a shout in our Telegram channel- https://t.me/PoloniexEnglish
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Thanks for spending some time with us as we went over what’s going on. And wherever you are, from the team here at Poloniex, good morning, good day, and good evening!
☕️The Morning Cup: A new AI tool could revolutionize contract and corporate filing analysis… was originally published in The Poloniex blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
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