Chain (XCN) ignores the wider-market downtrend by rallying 100%+ over the past month

May was an incredibly challenging month for the cryptocurrency market as a majority of tokens booked heavy losses as a bear market was confirmed, but not every project dropped back to pre-bull market lows.

Chain (XCN), a protocol designed to help organizations launch their own blockchain network or connect with other more established networks, managed to rally more than 120% since May 19. 

Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $0.0712 on May 11, XCN reversed course to hit a record-high at at $0.176 on May 31.

XCN/USDT 4-hour chart. Source: TradingView

Three reasons for the strong showing from XCN include multiple exchange listings, launching on BNB Smart Chain (BSC) and several notable partnerships, including a long-standing collaboration with the Stellar Foundation.

Exchange listings pump up the volume

In March 2022, Chain deployed a new smart contract for its token and rebranded from CHN to XCN. Following the rebrand, XCN listed at KuCoin and subsequent listings on Huobi, Gate, Bitrue and Hotbit were accompanied by sharp upticks in trading volume.

Several of the supporting exchanges have also launched perpetual contracts for the XCN token including Gate, Huobi, ByBit and Poloniex, which has helped generate an increased awareness for the project and initially led to a spike in trading volume.

XCN is also part of a cross-chain integration with BNB Smart Chain and this allows for inexpensive token transfers and trading on PancakeSwap where holders can earn yield for providing liquidity to the exchange.

Following the integration with the BSC, the price of XCN rallied from $0.0712 on May 11 to $0.14 over the next week.

Related: BNB Chain releases year-long technical roadmap to develop ecosystem

Notable partnerships

Since 2014, Chain has had several notable partnerships and funding rounds, including an initial fundraise of over $40 million from Khosla Ventures, Pantera Capital, Capital One, Citigroup, Fiserv, Nasdaq, Orange and Visa.

In 2018, the project was acquired and became part of the commercial arm of the Stellar Foundation known as Interstellar. Chain was reacquired in 2020 as part of a ledger-as-a-service platform called Sequence.

It’s possible the recent developments with the Stellar protocol, including its partnership with MoneyGram to create a stablecoin-based platform for money transfers, could have positive effects on the price of XCN due to their close ties.

In April 2022, Chain also announced a strategic partnership with Alameda Research which established the private equity and quantitative cryptocurrency trading firm as Chain’s primary market maker. While none of these partnerships appear significant enough to explain XCN’s current gains, it is notable that the altcoin’s price action has diverged from the wider crypto market for nearly an entire month.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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These Photos of Cole Sprouse’s Bushy Beard Will Have You Shocked

Long (facial) hair, don’t care.

Cole Sprouse sent shock waves across social media when he debuted a dramatic new look on Instagram.

“Please swipe bb girl,” the 29-year-old captioned a series of selfies on May 30 showing him sporting a long bushy beard and mustache.

He also appeared to be wearing a period costume featuring an oversized button-up shirt and high-waisted trousers.

“omg” commented his Riverdale co-star Vanessa Morgan, while photographer Damon Barker joked, “I can smell you from here.”

Another follower quipped that the actor seemed to be serving up a pandemic-inspired vibes, writing, “Jesus I didn’t realize we’d been in lockdown this long.”

No word on whether Cole’s scraggly makeover is for a new film or TV project, however he did recently say he was ready to move on from Riverdale and “wrap it up with a bow.”

“I’m not a creative force behind [the show],” he told GQ magazine in March. “I actually have no creative control. We show up, receive the scripts often the day of, and we’re asked to shoot.”



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Manchester United’s Alex Telles joins Lionel Messi, Mbappe & more on Champions League shortlist

Manchester United’s Alex Telles joins Lionel Messi, Mbappe & more on Champions League shortlist

The awards for the 2021/22 Champions League were handed out on Tuesday, May 31.

Real Madrid saw off Liverpool in this year’s final to clinch a record 14th Champions League trophy, with the Spanish giants now having double the silverware of their closest rival, AC Milan.

As a result of their victory over Liverpool, it was not too surprising to see Real dominate the Champions League Team of the Season.

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Karim Benzema, Vinicius Junior, Luka Modric and Thibaut Courtois were named in the XI along with four Liverpool stars, Antonio Rudiger of Chelsea, Kevin De Bruyne of Manchester City and Kylian Mbappe of PSG:

Elsewhere, Real Madrid saw Karim Benzema named Player of the Tournament and Vinicius Junior Young Player of the Tournament.

Benzema also finished 2021/22 with the most Champions League goals:

 

The only award not given out on Tuesday was the Champions League Goal of the Season.

Instead, a 10-man shortlist was shared by UEFA on Tuesday and fans can vote for their favourite strike here.

Among the goals were Alex Telles’ volley vs Villarreal and Lionel Messi’s sensational solo effort vs Manchester City.

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Overlooked Rookie Coach Ime Udoka ‘Proud’ of Leading Celtics to Finals

It’s not often NBA fans see a rookie head coach help lead his team to the NBA Finals.

But Ime Udoka did that in his first go-around as the big dog of the Celtics, leading Boston from a .500 start in the first 50 games of the season to a 26-6 finish over the final 32 games of the season. The Celtics also finished the regular season with the best defense in the League and remained the best among active teams in the playoffs.

It hasn’t always been sunshine and rainbow for Udoka. Despite serving as an assistant under Gregg Popovich, Brett Brown, and Steve Nash, the 44-year-old took several interviews but was told no by several teams — like Detroit, Indiana, and Cleveland —before Boston took a chance on him.

“I can go down the list. That was tough because I believe I was ready. But I couldn’t be more proud to be a part of an organization that’s pushing for winning and championships. You can be in a lot of different situations. There are only 30 teams, and I get that, but to not be in a rebuild and being in an expectation pressure-filled situation, I wouldn’t trade that in any day.” Udoka told Yahoo Sports.

When Udoka took on the Boston job following Brad Stevens’ abrupt resignation after eight seasons for a front-office gig, he did so while facing one central question. Could Boston afford to ask a first-year head coach to lead the Celtics where Stevens couldn’t?

“The one thing I would say is the disappointment of coming in second a few years really hurt,” Udoka said after the Celtics defeated the Miami Heat in Game 7 of the Eastern Conference finals on Sunday. “But if you told me I’d have to wait for Boston and get [bypassed] by some of the ones that I got beat out on, it’s a no-brainer for me. I’m happy to be in Boston.”

In just one year, Udoka proved that he could. He’s proven himself to be a defensive mastermind, excellent communicator, and one of the brightest faces in the coaching profession. Udoka is tops amongst the record-high 15 black head coaches in the NBA right now, the most at any point in League history.

“I mean, the proof is in the pudding,” Celtics star Jaylen Brown told Yahoo Sports. “Look around the League. Now you’re starting to see what we can do in the coaching ranks. Before, the talk was that certain people of color were not qualified to do their jobs or whatever the excuse was. Man, you give these guys an opportunity, and look what they did with it. First-year head coach Ime Udoka took us to the Finals. Look at Monty Williams in Phoenix; look at Dallas with Jason Kidd. You look at all these coaches around the League, and I’m happy to see that they’re finally getting an opportunity. Black coaches and people of color are deserving, and they’re capable of getting the job done just like anybody else.”

While Udoka will get plenty of credit for guiding the Celtics to a massive turnaround in the second-half of the season and directing a top-ranked defense, he also deserves flowers for empowering Jayson Tatum and Brown despite talk around Beantown that Brad Stevens should break up the Brown-Tatum connection. Something Brown acknowledges was hard to ignore.

The NBA Finals begin Thursday, with the Warriors hosting Game 1 in San Francisco. The Warriors have a combined 123 games of experience compared to the 0 the Celtics have played. This is also their sixth Finals appearance in six years. With that insight, it makes sense that Udoka, Brown, and the Celtics have embraced being underdogs in the title series.

“We’ve been who we’ve been all year, and our defense travels well and carried us through the playoffs,” Udoka told Yahoo Sports. “We’ve played Golden State well this year. We blasted them at their place, had a tough loss at our place early in the season. And so it’s a new series. We know who we are and the things we do well, so we’re confident in that.”

“The Warriors are a tough team to play against,” Brown told Yahoo Sports. “They’re smart, experienced, and they’ve got a lot of firepower. I’m excited and looking forward to the challenge.”



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Kingdom Hearts and Final Fantasy Producer Shinji Hashimoto Retires After 30 Years With Square Enix

Game producer Shinji Hashimoto announced today that he has retired from Square Enix after almost 30 years with the company.

Hashimoto started at Square Soft in 1995 and was the brand manager for both Final Fantasy and Kingdom Hearts franchises.

“Thank you, everyone. I will retire on May 31st (Tuesday) today. During my tenure, I am very grateful to all of you in various fields,” Hashimoto announced on Twitter. “From now on, I would like to support you as a Square Enix fan. I’m really thankful to you.”

He also posted a video message on Twitter, saying that he enjoyed his time traveling across the world and attending different kinds of events. In recent years, however, he stopped going to them due to the COVID-19 pandemic. While he would have liked to visit everyone in the wake of announcing his retirement, he had to opt for a video message instead.

Even though he’s leaving Square Enix, he’ll still continue to enjoy video games and play Square Enix titles. Additionally, Hashimoto says that if anyone spots him in public at events, he’ll be happy to take photos with them.

Every Square Enix Game in Development

“Now, I’ll be leaving the company in high spirits,” he explains. “But I will continue to be around and involved in entertainment, so please be assured. To everyone around the world, I hope you will continue to support Square Enix titles.”

To celebrate Hashimoto’s retirement, Square Enix illustrator Toshiyuki Itahana drew a picture of him with a Moogle and a Chocobo.

Square Enix recently sold off its western division to the Embracer Group and is currently working on projects such as Kingdom Hearts 4 and Final Fantasy XVI.

George Yang is a freelance writer for IGN. You can follow him on Twitter @yinyangfooey



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From Gun Laws to Abortion, 5 Issues for N.Y. Legislators as Session Ends

ALBANY, N.Y. — Money and lobbying hold enormous sway in the State Capitol, but there are few pressures like an old-fashioned deadline to get major legislation over the finish line.

With New York’s yearly legislative session scheduled to conclude June 2, state lawmakers are racing to put finishing touches on a wide range of legislative packages, from efforts to strengthen gun laws and reproductive rights to a deal to renew New York City’s authority over its schools.

The Legislature, controlled by Democrats, has already passed a steady stream of legislation in recent weeks, including a landmark bill to allow adult victims of sexual assault to sue their abusers, and legislation to ban the sale of cosmetics tested on animals. The Senate has passed bills to crack down on monopolies and cap the cost of insulin, though it remained unclear if the Assembly would follow suit.

Consensus on other hot-button legislation seemed even less certain, with many legislators already eyeing re-election campaigns and grappling with the chaos of new district lines that have led to a harried game of musical chairs.

Here’s a look at five of the most contentious issues facing lawmakers in their final week of session.

New York already has some of the strictest gun laws in the nation, but lawmakers want to further strengthen them, something they had been discussing even before the massacres in a Buffalo supermarket and a Texas elementary school.

The recent shootings, each involving 18-year-old suspects, only added momentum for new gun policies: Gov. Kathy Hochul, a Democrat, declared on Wednesday that she would seek legislation to raise the minimum age to 21 for the purchase of AR-15-style weapons, and perhaps other firearms.

Currently, anyone over 18 can purchase a long gun in New York as long as they pass a background check; permits to obtain a long gun are required in New York City, but not elsewhere in the state.

Raising the age for the purchase of at least some rifles, a step that other Democratic-led states have taken, appears to have support among Democratic lawmakers, even though it could be challenged in court by the gun lobby, which prevailed in California recently.

Lawmakers are discussing other gun-control measures, including a proposal to “microstamp” semiautomatic pistols to help law enforcement officials trace cartridge cases to the guns that discharged them.

State lawmakers are being cautious about the type of gun legislation they take on, wary of not passing any laws that the Supreme Court could use in its looming decision over the state’s concealed carry law, which many Democrats fear will be struck down. The law imposes limits on carrying guns outside the home.

“We don’t want to tip off any Supreme Court clerks who might be drafting an opinion and citing New York legislators trying to pre-empt their eventual opinion,” said State Senator Brad Hoylman, a Democrat who sponsored the microstamping legislation. “So there’s a lot of unease but also calculation that these bills don’t touch that area of concealed carry.”

Lawmakers may have some leeway in their timing: Ms. Hochul said this week she was prepared to call a special legislative session to pass bills in response to a Supreme Court decision, which is expected sometime in June.

Two environmental bills are facing hurdles: One would impose a two-year moratorium on the most energy intensive cryptocurrency mining, while the other would task the New York Power Authority with building wind and solar plants with the goal of energizing the renewable energy market.

Proponents of both bills say they are critical to meeting goals of the Climate Leadership and Community Protection Act of 2019, a landmark law that mandated the state be 70 percent renewably powered by 2030, and carbon neutral by 2050. As of this week, New York received less than 3 percent of its power from wind and solar renewables.

“If the private sector is too slow to help us comply with C.L.C.P.A., which as of now it seems that we’re moving too slowly, we have a public entity that can help accelerate the pace,” State Senator Michael Gianaris, the Democratic deputy majority leader, said of the public utility bill, a top priority for progressives.

Opponents say that the bill is not necessary, given how many private-sector renewable projects are in the pipeline, and will lead to increased costs for consumers.

But it is the cryptocurrency bill — the first of its kind in the nation — which has received the most attention.

The bill would temporarily block new permits from being issued to facilities that are mining the digital currency using nonrenewable energy sources. The legislation is a direct response to the environmental concerns over old fossil-fuel power plants that have been converted into crypto mining facilities, especially for Bitcoin, across upstate New York.

The bill passed the Assembly in April, but the cryptocurrency industry — a newcomer in Albany politics — has mobilized to try to block the legislation in the Senate, where the chamber passed a broader moratorium last year.

The industry has argued that banning the operations would hurt the nascent industry in New York and open the floodgates for similar regulations by Congress and other statehouses. Ms. Hochul said this week that she was “open-minded” about the legislation, but wanted to balance the creation of upstate jobs with the environmental impact of the facilities, a concern echoed by other lawmakers.

“I think there is a way to make crypto mining fossil-free without using the stick, and instead using carrots to get there,” said State Senator Todd Kaminsky, a Democrat from Long Island.

New York City mayors have trekked up to Albany on a regular basis to renew the city’s control over its public schools ever since Mayor Michael R. Bloomberg first convinced lawmakers to grant him so-called mayoral control.

While local boards oversee schools in the rest of the state, lawmakers have typically granted the city authority over its schools in increments of anywhere from one to seven years.

Mayor Eric Adams, with the backing of the governor, has asked to extend mayoral control four more years, which is longer than any extension that his predecessor, Bill de Blasio, had received.

John C. Liu, who leads the State Senate’s New York City Education Committee, said he believed that four years was too long of an extension. He suggested that he would be open to a multiyear agreement, provided that certain issues like class size, and representation for English as a second language students, and those with disabilities, were addressed.

The broader question of school governance remains open, however, with Mr. Liu, a Queens Democrat, saying he believed the state should commission a study on how city schools had fared under two decades of mayoral control and how they compared to those in other large American cities.

Democratic lawmakers have been working on a package of bills that would strengthen New York’s already robust protections for abortion, following a leaked Supreme Court opinion indicating the court was poised to overturn Roe v. Wade.

Some of those efforts have been focused on shielding providers from liability for patients coming from states where abortion has been criminalized. Others seek to protect patients who travel to New York for sexual health care.

Democrats are also working to enshrine the right to an abortion in the State Constitution, a move Ms. Hochul has expressed support for. It remains unclear, however, whether lawmakers will advance language focused narrowly on abortion, or put forth a more ambitious bill, which would provide comprehensive protection from discrimination.

Democratic lawmakers appear poised to let expire a divisive tax incentive program that New York City developers have used for five decades in the construction of most large residential projects.

Both Ms. Hochul and Mr. Adams have pushed for the renewal of the much-debated subsidy, known as 421a, or a revamped version of the program, which is meant to help subsidize the construction of affordable housing.

But there has been little appetite to renew the program among progressive Democratic lawmakers who have cast the subsidy as a tax giveaway for developers in exchange for too few units of below-market rental apartments.

“If we’re going to have a program that grants such generous tax benefits, we need to make sure that the public benefit is commensurate with the tax revenue we’re foregoing,” said State Senator Brian Kavanagh, the chair of the housing committee. “I think we have an opportunity to do that in the future. It’s not something that needs to happen by next Thursday.”

The impact of the subsidy’s expiration on June 15 is not expected to be felt for years. Ms. Hochul said the state could revisit the program in the future, even as some lawmakers made last ditch attempts to assemble a package of housing bills that could include an extension of the program.

Lawmakers appeared to be nearing consensus on another housing front: legislation to help salvage New York City’s deteriorating public housing system, home to more than 400,000 low-income residents.

The legislation, which Mr. Adams has lobbied for, would create a Public Housing Preservation Trust aimed at unlocking federal funds to finance the repairs to thousands of public housing units suffering from leaks, heat outages and mold.

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Team Steve or Jonathan? The Cast of Stranger Things Says…

Warning: The below features spoilers from season four of Stranger Things.

If you’re a fan of Jonathan and Nancy’s relationship on Stranger Things, you’re probably feeling a little upside down.

In season four of Stranger Things, which debuted May 27 on Netflix, Jonathan, played by Charlie Heaton, and Nancy, played by Natalia Dyer, are trying out a long-distance relationship now that he and his family moved following season three’s explosive events. But while Jonathan is away, Nancy and ex-boyfriend Steve (Joe Keery), reconnect while investigating Hawkins’ latest mystery. Though nothing happens between the former flames, it’s clear that there is a lingering connection between the two.

Of course, this left us wondering: Who will Nancy ultimately end up with? So, we took this question to the source and asked the stars of Stranger Things to weigh in on this love triangle.

Refusing to give anything away, Keery stayed coy while chatting with E! News’ While You Were Streaming, noting, “We don’t really know what’s going to happen.”

In fact, Keery assured E! News readers that they are in the dark too, stating that the creators, The Duffer Brothers, “don’t tell us anything.”

Nonetheless, Keery was just happy to have screen time again with Dyer, who was equally thrilled with this reunion.  “These are two characters who have gone through a lot,” she explained to E!. “They really care about each other, so its really nice to see…them interacting again.”

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Basel Committee presses on with restrictive requirements for banks’ crypto holdings

The Basel Committee on Banking Supervision met Friday and discussed cryptocurrency, among other topics. The committee stated that it would soon publish its second consultative paper with the intention of finalizing guidelines on the prudential treatment of crypto exposure by banks by year-end. 

In a Tuesday press release, the committee issued the following statement, which was likely in reference to the recent collapse of the Terra ecosystem:

“Recent developments have further highlighted the importance of having a global minimum prudential framework to mitigate risks from cryptoassets.”

The committee began consultations on the banking sector’s risk exposure to cryptocurrency in 2021 and published a paper on its findings at that time. The committee divided crypto assets into two groups, with tokenized traditional assets and stablecoins forming one group, and all others forming the second. A 1,250% risk weight was assigned to the second group, which included all cryptocurrencies and their derivatives. That meant a bank was expected to hold $1 in fiat money for every $1 worth of cryptocurrency it held.

The committee’s “conservative prudential treatment” led to objections from banking industry groups. The International Swaps and Derivatives Association (ISDA), the Futures Industry Association (FIA), the Institute of International Finance, the Chamber of Digital Commerce and five other organizations said in a letter to the committee that the proposed requirements amounted to “material impediments to regulated bank participation in crypto asset markets.”

Related: Crypto needs regulation but should be done right: Report and database

The Basel Committee on Banking Supervision is made up of central banks and regulators from 28 countries and jurisdictions, as well as three observer countries and five agencies. It is supported by the Bank for International Settlements, but its decisions do not carry the force of law.

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Shenmue Creator Is Working on an Apple Arcade Game

Shenmue creator Yu Suzuki is making a new game for Apple Arcade and it’s a rail shooter entitled Air Twister. The new game will be coming to the iOS gaming service on June 24 of this year.

Developed by Suzuki’s studio YS Net, Air Twister is billed as an “endless shooter” starring a young woman named Princess Arch, who is fighting off a group of enemies invading her home planet.

It uses a swipe shooting mechanic to target and fire at enemies flying around the screen as Princess Arch soars through the skies of her planet, passing through fields of giant mushrooms or through archipelagos of floating islands.

One of the most striking things about the trailer for Air Twister is its music, which is done by Dutch New Age composer Valensia. The result in the trailer is something like what would happen if you crossed Nier Automata’s battle themes with a 70s rock opera, which is a fascinating choice for a rail shooter where everyone’s riding giant swans and giant flappy whales are dragging air balloons attached to…floating…houses? Sure!

Air Twister First Screenshots

Suzuki’s most recent work was Shenmue 3, which he unveiled in 2015, successfully Kickstartered, and released in 2019. Previously, he worked at Sega on franchises such as Virtua Fighter, OutRun, Outrigger, Virtua Cop, and of course, Shenmue. He also somewhat famously worked on Space Harrier, which Air Twister has clearly taken several cues from.

Alongside Air Twister, Apple Arcade also unveiled Cooking Mama: Cuisine! coming to Apple Arcade on June 17 from Office Create, and Frogger and the Rumbling Ruins launching June 3 from Konami.

Rebekah Valentine is a news reporter for IGN. You can find her on Twitter @duckvalentine.



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Liverpool told who they should replace Sadio Mane with


Liverpool have been told who they should sign to replace Sadio Mane.

News broke recently that Sadio Mane is looking to leave Liverpool in the 2022 summer transfer window.

This comes with Mane now in the final year of his current Liverpool contract.

It is believed that Liverpool would demand more than €30m for Sadio Mane this summer and will only consider selling if a replacement is sourced.

Now, former Manchester United goalkeeper Mark Bosnich has told Liverpool who they should replace the Senegalese star with.

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And that man is RB Leipzig star, Christopher Nkunku: “I was going to say that’s the $64million (£51million) question but it might actually cost a bit more than that,” Bosnich is quoted telling Sky Sports, via The Mirror.

“I was thinking about that today and watching from the Champions League, there’s the boy from Leipzig I think, Nkunku. He was somebody who really stood out for me. “I know Leipzig dropped down into the Europa League and were knocked out in the semi-finals by Rangers but he was exceptional and that’s what I was thinking about today when I was thinking about if Mane leaves, what to do and that’s the one that came to mind for me.”

The 24-year-old is naturally a central attacking midfielder. However, he has played in a number of positions this past season, including up front in a two.

His most prominent role, though, has come as an attacking midfielder in a front three, and he has excelled in this role a great deal across 2021/22. This has seen Nkunku score a staggering 35 goals and provide 20 assists in 51 games across all competitions.

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