A layer-1 blockchain, BNB Chain created by the cryptocurrency exchange Binance, has introduced a seven-step guide to lower the technical barriers to creating memecoins.
On Jan 24, in a post on X, Hangpeng 'CZ' Zhao, the founder and ex-CEO of Binance, shared a guide that makes it easier to create memecoins on the BNB Chain.
In the guide, BNB Chain shared “actionable steps and strategies” to successfully launch a memecoin.
In a conversation with Cointelegraph, a representative from BNB Chain explained that the BNB Chain Meme initiative comprises various projects designed to assist both individuals and businesses.
''This could encompass Web3 developers aiming to create and launch tokens with platforms like Four.Meme or Pinksale, business owners with no Web3 background seeking fresh business prospects, as well as public figures such as political leaders or celebrities who wish to enhance engagement through memecoins,'' they mentioned.
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SEC cancels controversial crypto accounting rule SAB 121
The Securities and Exchange Commission has cancelled a controversial rule that asked financial firms holding crypto to record them as liabilities on their balance sheets.
A new Staff Accounting Bulletin issued on January 23 stated it “rescinds the interpretive guidance” of SAB 121, an agency rule published in March 2022 that the crypto industry has long sought to cancel.
“Bye, bye SAB 121!” SEC Commissioner Hester Peirce, the agency’s crypto task force lead, wrote in a Jan. 23 X post. “It’s not been fun.”
In March 2022, the SEC issued SAB 121, instructing financial firms to list crypto assets held for customers as liabilities on their balance sheets. The crypto sector opposed this directive, arguing that it would complicate the administrative process of holding crypto.
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Jump Trading accuses ex-engineer of stealing IP for rival startup
Jump Trading, a cryptocurrency company, has filed a lawsuit against a former software engineer, alleging that he breached non-competition agreements and misappropriated intellectual property to aid in launching a rival business.
In a complaint filed on January 21 in a Chicago federal court, Jump alleged that its former employee, Liam Heeger, breached a non-compete clause in his contract by operating a business that directly competes with Jump.
Jump stated that Heeger served as a principal software engineer on Firedancer, a significant blockchain initiative at the company, where he contributed to the analysis, design, development, and optimization of blockchain code from February 2023 until his departure on November 11, 2024.
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On January 22, in a post under the username Cantelopepeel, Heeger announced that he departed from Firedancer to establish Unto Labs, which aims to develop a 'next-generation layer-1 blockchain.'
