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June 7th - According to sources, Sriram Krishnan, a technology investor who spearheaded the Trump administrations pro-industry AI policy, plans to leave the White House at the end of this month to found an outside organization aimed at influencing technology policy. Krishnan is one of the architects of the governments "AI Action Plan," which outlined a blueprint for deregulating new technologies and promoting the construction of data centers nationwide. He also participated in drafting an executive order limiting states ability to regulate AI. However, advanced AI models such as Anthropics Mythos have demonstrated the ability to discover software security vulnerabilities, raising concerns among senior government officials about the risk of cyberattacks and prompting some officials to reassess the relaxed regulatory approach championed by Krishnan and others.According to Saudi media alhadath: Pakistans Interior Minister has arrived in Iran.According to The Information, White House senior policy advisor on artificial intelligence, Krishnan, will be leaving the office.On June 7th, Federal Reserve Governor Michael Barr criticized regulators moves over the past year to ease restrictions on bank lending, stating that related proposals "significantly weakened bank regulation." Barr stated that the vulnerabilities resulting from deregulation may not be immediately apparent, but will accumulate problems over the next few years and could cause serious damage to the economy. Trump-era officials have taken steps to ease capital requirements for Wall Street banks, narrow the scope of regulation, and pave the way for competition between traditional banks and private lending giants. Barr warned that weaker capital rules, liquidity requirements, and regulation could increase the risk of bank failures. He pointed out that banks need room to grow to support economic innovation, but long-term experience shows that without proper safeguards, the pursuit of high-profit innovation can lead to excessive risk. When banks run into trouble, their failures threaten businesses and households, and even jeopardize the overall economy.Federal Reserve Chairman Barr warned that relaxing regulatory rules for Wall Street banks could pose risks.

Crypto Market Sell-off Delivers NFT Trading Volume Boost

Cory Russell

Apr 13, 2022 10:06


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The crypto market sell-off has aided the growth of OpenSea NFT trading volumes.


Trading volumes on OpenSea fell in February and March as the crypto market rose.


As more mainstream businesses join the NFT area, the prognosis for the NFT market remains positive.

NFTs and OpenSea had a strong start to 2022, with trade volumes reaching an all-time high in January. The upward trend provided a positive picture for the next year.


ETH trade volume reached $4.97 billion in January, according to Dune Analytics statistics. The previous all-time high for OpenSea came in August, when trade volume reached $3.42 billion.


However, the crypto market's recovery from late January lows to early April highs was underwhelming in February and March.


Conditions in the NFT market look to be improving, with the recent crypto market sell-off providing support.

Trading on OpenSea with ETH under $3,000

March saw $2.49bn in ETH-based NFT trading volumes, down from $4.97bn in January and $3.58bn in February.


ETH trading volume is at $1.30bn. A continuing ETH decline would encourage demand for NFTs, notwithstanding the lack of a straight line.


After a January low of $2,161, ETH hit $3,500 in April before slipping down to sub-$3,000. ETH has declined in 6 of 9 sessions, with ETH-based NFT trading on OpenSea returning to sub-$3,000.


Because NFT trade volumes for Polygon (MATIC) and Solana (SOL) are so small, ETH remains the major emphasis.


This month's active traders have risen. From 546,145 in January to 451,767 in March, active ETH-based NFT traders. This month, there were 281,546 active ETH-based NFT traders.


Active traders may reach January's all-time high, boosting OpenSea and NFTs.

Beyond ETH Value's Influence on Trading Volume

Competition, illegal conduct, new NFT launches, and regulatory scrutiny will all have an impact on OpenSea trading activity.


LooksRare (LOOKS) debuted in January this year, and Coinbase is ready to join the NFT field via CoinbaseNFT.


Acceptance of fiat money as a form of payment will be a last important driver for NFT transaction counts. Coinbase and Mastercard announced a cooperation at the start of the year that would enable mainstream payments for NFTs.


The ability to accept mainstream payments eliminates the need for potential NFT collectors to open digital wallets and acquire cryptocurrency under risky market circumstances. The move by Coinbase to accept Mastercard payments may drive other NFT markets to do the same.


The good news for the NFT industry is that major corporations are continuing to investigate and join the digital asset market. Investors will be watching how Solana-based NFTs work for OpenSea.


However, there are also downside concerns, such as illegal activities and increasing governmental supervision. Regulatory monitoring must be helpful rather than punishing in order to make the NFT market more accessible. The actions of regulators on NFTs may be connected to unlawful activities in the NFT sector.

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