📰 This Week In Crypto (CW 22)

1. Dogecoin Investors’ Class Action Lawsuit Now Accuses Elon Musk of Insider Trading

2. Satoshi Nak-AI-moto: Bitcoin's creator has become an AI chatbot

3. Binance CEO: Buying a bank will not fix crypto’s debanking problem

4. Crypto​.com joins ranks of licensed payment institutions in Singapore

5. Congress Introduces A Game-Changing Crypto Bill Amid $350 Billion Bitcoin, Ethereum, BNB And XRP Price Pump

CW21 (last week)

👨‍💻 Atomic Wallet says hack affected 1% of active users, but investors claim otherwise
A hack that drained $35 million from Atomic Wallet users since June 2 impacted less than 1% of its monthly active users, according to the company. In the aftermath of the attack, Atomic Wallet — along with individual blockchain investigators — have amped up efforts to track and revert stolen funds. Trying to cash in on the commotion, a few verified scam Twitter accounts impersonated Atomic Wallet while sharing phishing links claiming to help users recover lost funds. 🔗 Read more

🛑 Gary Gensler Is a National Disgrace: It’s Time to Rein Him In
Gary Gensler is the chair of the SEC, and he is not a popular man. While rumor has it that he seeks Janet Yellen’s Treasury role at some point, sources on Capitol Hill suggest that he has absolutely no chance — because he’s not just unpopular with cryptocurrency enthusiasts, but with most of the US government too. Popularity isn’t a prerequisite for the office he’s currently occupying. Competence, however, is. And Gary Gensler’s competence is notable only for its continuing absence. The SEC under Gensler has become a weapon for government Luddites who fear the hegemony of the US dollar is under threat. Yet it is precisely this weaponization of the SEC that is threatening the future of the US as an economic power. 🔗 Read more

✋Binance.US prepares to suspend US dollar deposits and withdrawals from exchange
The crypto company Binance.US will suspend US dollar deposits as its banking partners prepare to pause the channels to withdraw US dollars from the exchange, days after regulators sued Binance and its chief executive, Changpeng Zhao. The US arm of the world’s largest crypto exchange said on Thursday that it was taking “proactive steps” in its transition to a crypto-only exchange for the time being. While trading, staking, deposits and withdrawals in cryptocurrencies would remain fully operational, customers would be unable to deposit or withdraw US dollars from the exchange, as “our payment and banking partners have signalled their intent to pause USD fiat channels as early as June 13, 2023”. 🔗 Read more

🩸‘Bloodbath’—Sudden $1 Trillion Crypto Crash Sparks Fresh Coinbase Warning And Tanks The Price Of Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Polygon And Solana
Bitcoin, Ethereum and other major cryptocurrencies have suffered a sudden crash after a week that saw some of the biggest crypto companies rocked by shock regulatory action—with further bombshells on the way. The bitcoin price has dropped to around $25,000, down 5% to its lowest level since March and mirrored by declines seen by the ethereum price. However, other top ten cryptocurrencies—BNB, XRP, cardano, matic, dogecoin and solana—have all suffered far larger declines, losing between 10% and 25% in mere hours. Crypto's latest crash—plunging the crypto market to around $1 trillion and described as an "absolute bloodbath" by one trader on Twitter—comes as one of the top global credit rating agencies, Moody's, dropped its outlook on embattled bitcoin and crypto exchange Coinbase from stable to negative. 🔗 Read more

💥 Cardano (ADA) Crashes 23% in a Day as Total Liquidations Near $400 Million
Cardano is taking a massive beating throughout the past few days. The cryptocurrency is down a whopping 23% in the last 24 hours alone. The majority of the altcoins are also trading well in the red, triggering liquidations of close to $400 million. In a recent blog post, Cardano’s Input Output Global – the firm behind Cardano’s ecosystem – released a statement dismissing the claims that ADA is security. 🔗 Read more

📰 This Week In Crypto (CW 23)

1. US SEC sues Binance and Coinbase amidst crypto crackdown

2. US SEC Calls 67 Cryptocurrencies Worth $100 Billion As Securities

3. Coinbase CEO’s Stock Sale Was Probably Not Planned to Occur a Day Ahead of SEC Suit

4. Binance.US halts dollar deposits, Robinhood delists tokens after SEC crackdown

5. Crypto.com suspends US institutional exchange service

CW22 (last week)

⚖️ House Republicans Introduce Bill To Fire US SEC Chair Gary Gensler and Make Other Reforms
House Republicans filed a bill on Monday that would fire US Securities and Exchange Commission Chair Gary Gensler and restructure the agency. Reps. Tom Emmer and Warren Davidson introduced the SEC Stabilization Act, to “remove Chairman Gensler following his long series of abuses that have been permitted under the current SEC structure,” according to a statement released from House Majority Whip Emmer’s office. “U.S. capital markets must be protected from a tyrannical Chairman, including the current one,” Davidson said in a statement. “That’s why I’m introducing legislation to fix the ongoing abuse of power and ensure protection that is in the best interest of the market for years to come. 🔗 Read more

🏦 Bank of China issues $28M in digital structured notes on Ethereum blockchain
On June 12, Bank of China’s investment bank subsidiary BOCI announced the issuance of 200 million Chinese yuan ($28 million) worth of digital structured notes minted on the Ethereum blockchain. The move makes BOCI the first Chinese financial institution to issue a tokenized security in Hong Kong. Investment banking company UBS helped originate the product for placement to its client in the Asia-Pacific region. Ying Wang, the deputy CEO of BOCI, commented: “Working together with UBS, we are driving the simplification of digital asset markets and products, for customers in Asia Pacific through the development of blockchain-based digital structured products, designed specifically for customers in Asia Pacific." 🔗 Read more

❄️ U.S. Judge Rebuffs SEC Request for Binance.US Asset Freeze for Now
The federal judge overseeing the U.S. Securities and Exchange Commission's case against Binance and Binance.US declined to order a temporary restraining order freezing the U.S. trading platform's assets. That would allow the U.S. arm of the company to continue doing business while hashing out restrictions with the regulator. If the two sides can agree on limits, Judge Amy Berman Jackson, of the D.C. District Court, said “there’s absolutely no need” for a restraining order. In the meantime, the judge ordered Binance.US to provide a list of its business expenses to the court, and ordered the parties to continue negotiating. A status update is due by close of business Thursday. 🔗 Read more

🚀 BlackRock applies for spot Bitcoin ETF — a US first if approved
BlackRock has filed an application for a Bitcoin spot exchange traded fund (ETF). The investment company is the world’s largest and it would be the first crypto spot ETF in the United States, if it receives approval. According to a filling by the Nasdaq stock exchange with the U.S. Securities and Exchange Commission, Coinbase Custody Trust Company would be the custodian of the fund’s Bitcoin holdings and Bank of New York Mellon would custody its fiat. BlackRock’s iShares Bitcoin Trust would be traded as Commodity-Based Trust Shares. 🔗 Read more

🕵🏻‍♂️ Binance exits Netherlands and faces France probe
The world's largest cryptocurrency exchange, Binance is being investigated by French authorities, according to media reports in France. The investigation is focused on its anti-money laundering procedures. It follows the announcement of the company's departure from the Netherlands after it failed to obtain a licence from the Dutch central bank. In a statement Binance confirmed French authorities visited its offices last week and will comply accordingly. 🔗 Read more

📰 This Week In Crypto (CW 24)

👨‍⚖️ US lawmakers try to fire Gary Gensler
💼 BlackRock applies for spot Bitcoin ETF
🤝 Binance & SEC reach US asset deal
🦄 Uniswap releases v4 code
🚀 Polygon Unveils 2.0 Roadmap

CW23 (last week)

🏦 XRP Army Finds Ripple Link To IMF As It Announces CBDC Platform
While the International Monetary Fund (IMF) announced that it is working on a platform for digital central bank currencies (CDBCs) yesterday, the XRP army has discovered an IMF report from March 2023 in which Ripple is considered a potential problem solver. Remarkably, the links between the IMF and Ripple Labs date back several years. “CBDCs should not be fragmented national propositions. To have more efficient and fairer transactions we need systems that connect countries. […] For this reason at the IMF, we are working on the concept of a global CBDC platform,” IMF Managing Director Kristalina Georgieva said on Monday. 🔗 Read more

💰$572,000,000,000 Added to US Debt in Two Weeks, Total Debt Now Exceeds China, Japan, Germany and UK’s Combined GDP
Over half a trillion more dollars have been dumped into the US government’s debt spiral in the last two weeks alone. According to the latest numbers from FiscalData, as of June 15th, the US national debt was $32.03 trillion, a $571 billion rise from June 1st’s recording of $31.46 trillion. Total US debt is now larger than the total gross domestic product of China, Japan, Germany and the United Kingdom combined, and amounts to $244,000 per American household. At current interest rates, the US is now paying over $2 billion a day in interest payments, and even if every American household contributed $1,000 a month to pay off the debt, it would still take 20 years to pay off. 🔗 Read more

🏦 Crypto firm Ripple gets in-principle payments license in Singapore
Blockchain company Ripple said Thursday it received in-principle regulatory approval to operate in Singapore, in a rare moment of good news for the cryptocurrency industry globally as it faces tightening policy back home in the United States. Ripple said that it was granted in-principle approval of a Major Payment Institution Licence from the Monetary Authority of Singapore, the country’s central bank. The license will allow Ripple to offer regulated digital payment token products and services and expand the cross-border transfers of XRP, a cryptocurrency the company is closely associated with, among its customers, which are banks and financial institutions. 🔗 Read more

🚀 Ripple Eyes Upper Hand In SEC Lawsuit As CEO Garlinghouse Sheds Light On Case Outcome
Brad Garlinghouse, the CEO of Ripple, made key revelations regarding the U.S. Securities and Exchange Commission (SEC) in a rare video address, providing light on what he believes to be a purposeful effort to stifle innovation in the crypto space and control through enforcement. The documents associated with the notorious 2018 Hinman speech, which covered the standards for establishing if a token is a security, were recently unsealed, prompting the Chief Executive to make his remarks. Highlighting the contents of the unsealed documents, Garlinghouse stated, “At best, these documents show that senior officials at the SEC couldn’t agree on the law and told Bill Hinman directly he would confuse the public even more about the rules for crypto. At worst, they show that Hinman deliberately ignored the law and tried to create new laws, something only Congress can do.” 🔗 Read more

#Bitcoin $31.000 ✅

📈 Bitcoin hits more than 1-year high amid BlackRock ETF excitement
Bitcoin , the world's largest cryptocurrency, hit a more than one-year high on Friday, capping a week of gains helped in part by BlackRock's (BLK.N) plans to create a bitcoin exchange-traded fund (ETF) despite heightened U.S. regulatory scrutiny on the digital asset sector. BlackRock, the world's biggest asset manager, filed last week to launch iShares Bitcoin Trust, an ETF that would have Coinbase Custody as its custodian as well as offer institutional investors exposure to the cyptocurrency. 🔗 Read more

📰 This Week In Crypto (CW 25)

1. Bitcoin hits its highest level in a year

2. Binance.US solves USD withdrawal issues but warns it won’t last long

3. ‘The Great Accumulation’ of Bitcoin has begun, says Gemini’s Winklevoss

4. TerraUSD: South Korea 'cryptocrash king' Do Kwon jailed

5. Fed sees stablecoin as form of money, wants ‘robust’ role in its oversight, Powell says

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CW24 (last week)