The decision by the FCC to reinstate the Net Neutrality regulations is a positive outcome for innovation-friendly policies, especially for the newly developed Web3 startups. Sarah Aberg, the General Counsel at Nova Labs, highlights the importance of net neutrality in creating a just and open environment on the internet that is vital for technological advancement and for the preservation of the core US values.
Net neutrality, the rule on equal treatment of all data, is essential for giving new startups a chance to compete in the Internet-driven market. Eliminating the preferences of internet service providers regarding online content or services, net neutrality levels the playing field by providing a chance for novel technologies such as blockchain to compete fairly in the marketplace.
Aberg pinpointed the historical setting of telecommunications legislation, showing how in the past the restrictions lacked innovation and limited consumer choice. Nevertheless, the breakthrough in packet-switching protocols, including TCP/IP, provided the foundation for today’s internet by making it possible to deliver data packets through different networks. The main purpose of net neutrality rules is to prevent content discrimination against content providers and to provide equal opportunities for all data packages.
The relevance of net neutrality manifests in the fact that it has played a role in overturning internet-based services such as YouTube, Netflix, or Zoom. These networks have now become a part of social and work life, as well as proving that open networks improve innovation and enhance the competitive environment.
Since for example startups like Helium Mobile that is a provider of decentralized wireless connectivity solutions, net neutrality serves as a safeguard from the unfair acts of network providers. Net neutrality safeguards equal opportunity for new and innovative ventures to replace existing monopolies and participate in the development of solutions that address environmental challenges like providing green connectivity to disadvantaged communities.
Regardless, the regulatory uncertainty about blockchain-based solutions such as DePIN (decentralized ownership for public infrastructure networks) hinders progress and innovation in this field. Aberg urges regulatory bodies to have a consistent vision as the FCC does, which maintains the features of the industry together with consumer protection and innovation.
Concerning this, the FCC‘s net neutrality ruling proves to be an example of adaptive regulatory approaches that ensure innovation and competition in the digital era. Through adopting open and transparent regulation schemes, authorities will be able to promote the necessary conditions for the steady and fair development of revolutionary technologies, giving consumers, society, and the economy a chance to grow.
Crypto Crash Comeback? Will Most FTX Customers Actually Get Their Money Back?
In very promising news for the customers of the insolvent cryptocurrency exchange FTX, a court filing a few days back made it clear that most of the customers will not only recover the money they invested in the exchange but may also receive some more.
Access estimates that it currently holds approximately $11 worth of other people’s money in its accounts. 2 billion. But this heat exchange has produced springs that average $14 per day. 5 billion and $16. 3 billion loan money is to be shared with creditors. Such a surplus permits customers whose claims are estimated to be $50,000 or under to get an estimated 118?% of the declared value of the claim. Nevertheless, it is to be noted that 98% of creditors fit in this group and will consequently receive compensation of this nature.
With the approval of the bankruptcy judge that management will be implemented, the customers of FTX whose funds were blocked since the exchange filed for bankruptcy protection last November have a ray of hope.
The initiator of FTX, Sam Bankman-Fried, is now in a prison district, where he will serve the sentence he received for misappropriation of billions of dollars from customers and other crimes. He was given 25 years’ sentence (in prison). Nevertheless, FTX had to sell assets like venture investments and other asset holdings to raise funds and meet some of the financial requirements.
The one notable sale concerned FTX’s holding in Anthropology, an AI company with Amazon backing, resulting in almost 900 million USD in proceeds. At the same time, though, the company is confronted with difficulties, as a significant amount of cryptocurrency has yet to be found on the Exchange.
While the cryptocurrencies’ have appreciated dramatically since the FTX bankruptcy filing, the exchange is unable to profit from the price rise, due to the missing tokens. Nevertheless, the redemption plan purports to issue complete refunds to creditors who are not governmental entities, and thus, a bright spot in the resolution of the situation might be seen.
After the resignation of Bankman-Fried, FTX appointed John Ray III to replace him. However, the deficiency of adequate corporate control and the percentage of the fault information was clearly indicated at the end of his speech. Despite the establishment’s harsh tone, Ray admitted that he was hopeful about the execution of a Chapter 11 plan that would allow a 100% full reimbursement of bankruptcy claim amounts plus interest to the creditors.
Ultimately, the opportunity for buyers to get back fully the money they lost emphasizes the necessary honesty and accountability in the crypto sphere. Even if problems persist, the case of FTX bankruptcy resolve remains a source of hope for the afflicted individuals, while at the same time, the crypto ecosystem demonstrates its resilience.
Can Altcoins Catch Up? Bitcoin Soars While the Rest of Crypto Waits for a Lift
The rise in the value of Bitcoin, in turn, leads to the growth of other altcoins. An emerging trend in this market is the appearance of new tokens. Along with these newbies, the altcoins category also boasts growth for Avalanche (AVAX), Toncoin (TON), Injective (INJ), Maker (MKR) and recently launched KangaMoon (KANG).
KangaMoon helps to strengthen its notability with a ‘Kangaverse’ game which is a combination of play-to-earn gaming with socialisation. It is working with RaidSharkBot to boost its participation and expects to raise $7M by way of such investment. However, analysts view it as the best altcoins to consider.
Injective has a 270% growth established in the past year alone, which is directly connected to the rising trading volume. One of the most important things about Toncoin’s communication solution is that, though there has been a price decline in recent times, yet, it has led to an increase in adoption. Amid the recent defeat, Avalanche is said to be regaining ground and could well improve owing to the ever-expanding altcoin market in its way, since it enjoys the largest market cap and high trading volume.
Maker, being the subject of many plunges, nevertheless stays a crucial altcoin with positive results for the year. Although analysts expect the market to shrink soon, long term it could have some good potential.
In general, the participation of Bitcoin in driving the crypto market can facilitate the provision of investors with different options that will ultimately serve to create growth.
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