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Outlook Money: Major Developments in the Crypto World

The Bitcoin Frontier Fund, formerly known as Stacks Ventures, has recently launched the first Bitcoin Ordinals accelerator program on August 14, 2023. This program is aimed at supporting start-ups innovating in the Ordinals space by providing seed money, funding pipelines, and mentorship. The program offers $100k in investment and a comprehensive program and community to help take start-ups to the next level. In exchange, the fund takes a 2-3% equity in common shares.

For start-ups with no substantial funding, they will be required to give a 3% equity share, while those who have secured $600,000 or more funding within the last six months will only give a 2% share. The specific acceptance criteria for the program are not clearly mentioned on the website, but areas of interest include infrastructure, proven Web 3.0 use cases, developer tools, and accessibility.

How AI legalese decoder Can Help:

AI legalese decoder can assist start-ups in understanding and navigating the legal complexities associated with giving equity shares in exchange for funding. It can provide legal expertise and precise interpretation of the terms and conditions mentioned in the program. The AI legalese decoder can also analyze the acceptance criteria and help start-ups align their business models and offerings with the program’s requirements.

Furthermore, AI legalese decoder can provide insights into the legal implications of using Ordinals and the potential challenges associated with the collectibility and value perception of these digital assets. This can help start-ups make informed decisions regarding their use of Ordinals and ensure compliance with relevant regulations.

In addition, AI legalese decoder can provide guidance on the legal implications of partnering with Immutable and Polygon Labs for the testing of Immutable’s zkEVM. It can help start-ups understand the terms and conditions of the partnership and ensure that their ownership rights and interests are protected.

Lastly, AI legalese decoder can assist Binance in reviewing and responding to the SEC’s discovery requests and help in filing a protective order against the regulator’s alleged overly broad and unreasonable requests. It can provide legal expertise in navigating the legal proceedings and ensuring compliance with the court’s orders.

Immutable zkEVM Begins Testnet Phase With 12 Web 3.0 Games

Immutable, a Web 3.0 gaming platform, has recently started public testing of its Immutable zkEVM in collaboration with Polygon Labs. The development of the zero-knowledge Ethereum Virtual Machine (zkEVM) network began in March 2023 after Immutable partnered with Polygon Labs. The zkEVM network aims to reduce development costs for game developers and provide the security and network effects of the Ethereum ecosystem.

As part of the launch, Immutable has partnered with over 20 gaming companies, including GameStop, TokenTrove marketplace, Kongregate, and iLogos, among others, to support the deployment of Immutable’s zkEVM.

Binance Seeks Protective Order Against SEC’s ‘Fishing Expedition’

Binance, a major cryptocurrency exchange, has filed for a protective order against the US Securities and Exchange Commission (SEC) in response to what it considers to be overly broad and unreasonable discovery requests. Binance argues that the SEC’s requests seek “every single document” related to customer assets and go beyond the scope of their June 2023 court order. The court order allowed for the discovery of Binance’s custody, security, and availability of customer assets.

Overall, the AI legalese decoder can provide valuable assistance to start-ups and organizations operating in the crypto space by decoding complex legal language, ensuring compliance, and providing strategic legal guidance.

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