✨Metaverse Beauty Week!

There are several beauty brands participating in this event!

Here is an outline of our newsletter today🔥

  • Bitcoin hovers below $26k ahead of FOMC and CPI data👀

  • Metaverse Beauty Week 💄

  • Binance fights back 👊

Bitcoin hovers below $26k ahead of FOMC and CPI data👀

Bitcoin's price has retraced below the $26,000 mark, returning to familiar levels in recent trading. This downward movement comes in the wake of the Securities and Exchange Commission (SEC) filing lawsuits against major exchanges Binance and Coinbase, which has added to the apprehension in the cryptocurrency market.

Additionally, concerns surrounding the monetary policy of the US central bank have contributed to the negative sentiment surrounding Bitcoin.

Investors are closely monitoring the release of the May Consumer Price Index (CPI) and the upcoming interest rate decision by the Federal Reserve.

These events have the potential to impact the broader financial markets and influence sentiment toward Bitcoin and other digital assets.

Ethereum has also experienced a decline of 1.8%, mirroring the overall downward trend in the market. Other tokens mentioned in the SEC lawsuits have likewise seen price decreases, reflecting the regulatory uncertainties surrounding these projects.

In contrast to the crypto market, major US equity indexes such as the S&P 500 and Nasdaq have witnessed gains, while the price of gold has fallen.

From MarketWatch

These diverging trends suggest that investors may be shifting their focus from cryptocurrencies to traditional markets, potentially driven by concerns over regulatory developments and the perceived stability of traditional assets.

The regulatory fears triggered by the SEC lawsuits against Binance and Coinbase, coupled with investor abandonment of certain exchanges, have exerted a notable influence on the overall cryptocurrency market.

Metaverse Beauty Week💄

Metaverse Beauty Week is an exciting five-day event that aims to highlight the immense branding potential of the metaverse.

This event will feature immersive games and engaging experiences in popular virtual platforms like Decentraland, Spatial, and Roblox, allowing users to interact with cosmetic brands in innovative ways.

Several well-known beauty brands are participating in Metaverse Beauty Week.

  • Neutrogena

  • Lush

  • Flannels

  • Clementine

The event's primary goal is to establish immersive and creative virtual marketing presences for these consumer brands, showcasing their products and engaging with users in unique and memorable ways.

Metaverse Beauty Week is expected to draw a significant audience from platforms such as Decentraland, which boasts approximately 10,000 users per day, and Roblox, with a staggering user base of 66 million.

By bringing cosmetics into the metaverse, brands have the opportunity to explore novel and imaginative ways of translating the concept of beauty virtually.

The success of interpretive experiences during Metaverse Beauty Week could have broader implications, potentially paving the way for more consumer brands to embrace the metaverse and establish their virtual installations.

Could this mean there is a place for Apple’s VisionPro? 👀

Metaverse Beauty Week will run throughout the week, offering a range of virtual activities. The event will conclude with in-person events taking place in London on Friday, providing a fantastic opportunity for participants to network and further explore the intersection of beauty and the metaverse.

Binance fights back👊

Binance has responded to the Securities and Exchange Commission (SEC) lawsuit by filing over 20 motions and declarations opposing the charges.

The SEC has brought forward 13 allegations against Binance, its US affiliate Binance.US, and CEO Changpeng "CZ" Zhao, accusing them of violating US securities regulations.

Image from BeInCrypto

Binance's legal team has raised concerns about the timing of the SEC's charges, suggesting that they were strategically filed alongside the lawsuit against Coinbase.

They question the fairness of the process and highlight personal interactions between SEC Chairman Gary Gensler, CZ, and Binance during the investigation.

One of the key arguments put forth by Binance's attorneys is that the SEC has favored ad-hoc enforcement over rulemaking, thereby disregarding proper regulatory procedures.

They assert that the SEC's case lacks a complete record and seek relief from an expedited schedule to ensure a fair and thorough evaluation of the allegations.

As this legal battle takes place, this would provide some clarity towards the regulatory landscape for crypto in the US.

✨Bonus News✨

Disclaimer: This is not any kind of financial advise. This newsletter is solely informational; it does not constitute investment advice, a solicitation to buy or sell any securities, or a recommendation regarding how to manage your money. Be cautious and conduct your own study, please.

Reply

or to participate.