headlines
headlines
Tokens like SOL, ADA, MATIC and more suddenly drop 20% in days after SEC lawsuit alleges
The U.S. Securities and Exchange Commission (SEC) filed a lawsuit against cryptocurrency exchanges Binance and Coinbase a few days ago, focusing on 13 tokens on their platforms accused of being securities, including tokens such as SOL, ADA, MATIC, and Other altcoins have generally lost more than 20% in the past 24 hours.
Most of those losses occurred in the early hours of Saturday, the data showed. Tokens such as Solana, polygon and cardano dropped 25% in a matter of hours - with users on social media buzzing about this, with some citing the drop as a major market maker pulling liquidity from the market sex. (Coindesk)
The EU Encrypted Asset Market Law MiCA was officially published in the Official Journal of the European Union
As previously reported, the European Union formally signed its landmark Crypto Assets Market (MiCA) regulation in early June, signed by European Parliament President Roberta Metsola and Swedish Rural Affairs Minister Peter Kullgren, along with a separate anti-money laundering law requiring Crypto providers verify the identity of their customers when transferring funds. MiCA will enter into force within a few weeks of its publication in the Official Journal of the European Union in June. Its terms, which offer cryptocurrency exchanges and wallet providers licenses to operate within the 27-country bloc and require stablecoin issuers to hold appropriate reserves, will come into effect in 12 to 18 months.
cryptocurrency
cryptocurrency
A mysterious whale withdrew 182 million USDT and 2436 ETH from Binance in the past 3 days
According to Lookonchain monitoring data, a mysterious whale has withdrawn 182 million USDT and 2436 ETH (approximately US$4.26 million) from Binance in the past 3 days.
Messari: Among mainstream L1 projects, only BNB Chain and Ethereum are in a state of deflation in Q1
Messari tweeted that among mainstream L1 projects, only BNB Chain and Ethereum (the native token) will be deflationary in the first quarter of 2023. Due to the burning of a portion of transaction fees, the two inflation rates are -5.4% and -0.2%, respectively. Other networks have different inflation rates due to the distribution of PoS rewards.
Arthur Hayes, who holds the first position in GMX, increased his position in GMX again after 9 months
According to the monitoring by Ember, an analyst on the chain, Arthur Hayes, the founder of BitMEX with the largest GMX position, increased his position in GMX after 9 months: - Hayes bought a total of 200,000 GMX during the half-year period from 3/3 to 9/7 last year, The average price is US$44.7; - The GMX held by it has been pledged and has not been redeemed or sold; - At present, GMX has fallen to its cost line, and Hayes started to buy: a total of 2327 GMX were bought yesterday and today, Average price $45. It is reported that a few days ago Hayes tweeted that he would buy some altcoins.
Curve founder address deposits 38 million CRV into Aave
According to Lookonchain monitoring, due to the 16% drop in the price of CRV, the founder of Curve deposited 38 million CRV ($24.5 million) into Aave, increasing its Health Rate to 1.52. In total, he has deposited 290 million CRV ($187 million) and borrowed $71 million in stablecoins with Aave.
Nigerian SEC Orders Binance Nigeria to Stop Illegal Operations
The Nigerian Securities and Exchange Commission (SEC) issued a notice on Friday stating that Binance Nigeria Limited (Binance Nigeria Limited) is neither registered nor regulated by the Nigerian SEC, so its business in Nigeria is illegal. Any dealings with this entity by the investing public are at their own risk. The Nigerian SEC ordered Binance Nigeria Limited to immediately cease any form of solicitation of Nigerian investors. In addition, the Nigerian SEC reminds Nigerian investors that investing in encrypted assets is extremely risky and may result in the loss of all investment funds.
The US dollar stablecoin TrueUSD officially posted on social media that the minting and redemption services of TUSD will not be affected and will continue to operate as usual. Our partnerships with other banking institutions remain unchanged for seamless transactions. As previously reported, TrueUSD said earlier today that it has temporarily stopped minting TUSD through Prime Trust pending further notice.
Project News
Project News
Lucie Sasnikova, a member of the Shiba Inu marketing team, said recently that Shibarium developer Shibarium 1 guessed that Shiba Inu Layer 2 Shibarium's mainnet launch time will be in August, while Shiba Inu chief developer Shytoshi Kusama predicted July. Sasnikova is expected in the third quarter, while the Shiba Inu team's overall estimate remains 2023. Sasnikova said that for the mainnet launch, several steps are critical, including the testing process and security audits. (U. Today)
Memeland launched the new Memecoin website, users who log in and participate in the game can get 69 game coins
The Memecoin of the NFT project Memeland announced that it has launched a new website. After logging in, users can get 69 game coins by participating in the game, and then they can submit a waitlist application (wallet address and waitlist CODE are required, and CAPTAINZ holders will have 5 CODE , POTATOZ has 1 CODE). After Memecoin starts submitting the waiting list, there will be three stages: Fire Sale, AirDrop and Token Launch. According to the disclosed Memecoin token economic model, 69% of the tokens will be distributed to the community through Fire Sale and AirDrop.
Sui Publishes SIP 6 Improvement Proposal, Developers Will Be able to Build Liquidity Staking Protocols
Sui Publishes SIP 6 Improvement Proposal, Developers Will Be able to Build Liquidity Staking Protocols
Sui Network released the SIP 6 improvement proposal, which specifies improvements to the StakedSui structure and related functions, and the SIP still needs to be reviewed. Sui believes that with SIP 6 developers will be able to build liquid staking protocols.
Investment and Financing
Investment and Financing
BlockSpan, an NFT API platform, completes a $1.4 million Pre-Seed round of financing, with Innovation Work participating
BlockSpan, an NFT API platform, completes a $1.4 million Pre-Seed round of financing, with Innovation Work participating
BlockSpan, an NFT application programming interface platform, announced the completion of a $1.4 million Pre-Seed round of financing, with Innovation Works participating in the investment. This round of funds will be used to accelerate the development of platform API functions and expand the team in the coming months. It is reported that BlockSpan can help users quickly access current and historical NFT data stored on various blockchains, and can also help software companies create Web3 and blockchain-based applications more easily.
NemoSwap, the Sui ecological DEX project, has deleted the financing information posted on the official Twitter. Previously, the project stated that it has completed a $3 million seed round of financing led by NodeVenture, Tally Capital, Pithia, Mythos, CryptoSlate, Olymp Capital, and Signum Capital. CryptoSlate and Signum Capital, which were listed as participating institutions, issued warnings that they did not participate in the investment of the project, and were blocked by NemoSwap on Twitter. (cryptoslate)
global policy
global policy
Former Nigerian President Muhammadu Buhari signed the Finance Act 2023 into law on the eve of leaving office on May 28. The bill introduces a series of tax reforms aimed at modernizing Nigeria's fiscal framework. One of the provisions is a 10% tax on gains from the disposal of digital assets, including cryptocurrencies. Taxing cryptocurrencies can be challenging due to the unique characteristics of digital assets, such as valuation, tracking transactions and international complexities, local cryptocurrency experts said. They added that the government must set clear guidelines and provide adequate education and support to taxpayers. This view seems to be supported by more crypto enthusiasts. (Cointelegraph)
character * voice
character * voice
CZ: No one knows the real reason for the market to rise/fall, investors should treat it rationally
CZ tweeted that no one can know the real reason for the market to rise/fall. Many people claim to know, and often attribute it to a single (often false) cause. In fact, there are many sellers and buyers in the market, and everyone may have their own reasons, such as claiming that a large number of altcoins on the Robinhood platform will be dumped or the policies of each region (ban or lifting). The claim that “Binance converts its holdings into fiat” is false. In fact, Binance’s fiat/stablecoin reserves (used to pay short-term salaries or expenses) have decreased. Over the past few months/weeks/days, Binance’s cryptocurrency reserves have increased. CZ said that greed and fear, these are two emotions that investors need to manage in any market.
Coinbase CEO: Trading Crypto Commodities Doesn't Require Multiple Registrations SEC Alleged in Lawsuit
Coinbase CEO Brian Armstrong said in an interview that he believes the U.S. will eventually achieve clear cryptocurrency regulation, “even if it takes a while,” and sees it as a key factor in attracting entrepreneurs back to the U.S. Recently, the SEC filed a lawsuit against Coinbase, accusing Coinbase of operating a stock exchange, broker-dealer, and clearing house without registering with the SEC. Armstrong explained that he doesn't think these registrations are necessary for Coinbase to operate: "The assets we trade are commodities, so they don't need these registrations ... We trade crypto commodities." He also noted that Coinbase has been working hard to Activate other licenses. "We don't claim to be a broker-dealer, we have acquired a broker-dealer license that is still dormant because they (SEC) did not allow us to activate it," he said. Earlier today, the news, Brian Armstrong said in an interview that Coinbase has a special committee responsible for reviewing the listing of coins, and will evaluate the compliance of the project according to the corresponding review framework, including whether it is a security or a commodity. Armstrong said Coinbase has shared this internal framework with the SEC. In addition, Armstrong emphasized that he is only responsible for participating in the discussion and formulation of relevant rules, but does not participate in the decision-making of specific currency listing matters, nor is he a member of the currency listing review committee. (Cointelegraph)
Brian Armstrong: Coinbase has shared the currency listing review framework with the SEC; I do not participate in the currency listing decision
