The latest price moves in bitcoin (BTC) and crypto markets in context for June 6, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
Turbos Finance Introduces Smart Routing for Stablecoins on Sui
The new feature aims to reduce friction for users coming from other ecosystems to Sui and improve liquidity.
Bitcoin Saw Heavy Profit Taking in May: Goldman Sachs
The amount of bitcoin held on exchanges fell 12%, while ether supply saw a slight gain, the report said.
Zodia Custody to Offer Staking to Institutional Clients Through Blockdaemon
The firm said it is the first bank-owned custodian to offer staking services to institutional clients.
OKX Chooses Nomura-Backed Crypto Storage Firm Komainu as Custodian
OKX is the first client to use Komainu Connect, a regulated settlement and custody system for institutional customers.
Binance Lawsuit Triggers $700M in Withdrawals; Metaverse Tokens Named by SEC Lead Decline
The unprecedented withdrawals only reflect a small amount of Binance’s reserves, according to data from CryptoQuant.
First Mover Asia: Why Did Bitcoin Fall to $25.4K? SEC Lawsuit Against Binance Rocks Crypto Markets
ALSO: Lido’s stETH token has become the seventh largest token by market cap, right ahead of Cardano and just behind XRP, according to data from CoinGecko. What’s behind its ascent?
Crypto Traders Suffer $320M Losses in Liquidations as SEC Lawsuit Against Binance Spurs Market Plunge
Cryptocurrency prices nosedived Monday as the U.S. Securities and Exchange Commission (SEC) sued the crypto exchange and its chief executive for multiple federal securities law violations.
Genesis Bankruptcy Judge Extends Mediation Period Between Genesis, Creditors
The insolvent lender will now have until August 2 to submit a plan to emerge from bankruptcy.
Optimism ‘Bedrock’ Upgrade to Speed Confirmations, Cut Gas Fees, Set Path to ‘Superchain’
The “Bedrock” upgrade will improve the usability of the chain by lowering gas fees and cutting deposit-confirmation times by 90% – pitched as a key step toward the Optimism network’s goal of becoming a “Superchain.”
Binance SEC Lawsuit Could be Preview of What Coinbase May Face, Berenberg Says
If Coinbase faces charges from SEC, at least 37% of the crypto exchange’s net revenue would be at risk, analysts says.
BNB, CAKE Plummet Following SEC Crackdown on Binance
Both are significant tokens in the Binance ecosystem and had their prices drop by more than 8% over a four-hour period.
Crypto Hedge Fund Arca Has Trimmed 30% of Its Staff
Crypto asset manager Arca has cut 30% of its staff amid a continuing bear market and regulatory uncertainty, the company said Monday.
Cryptocurrencies Crash After the SEC Charges Binance With Sale of Unregistered Securities
The SEC on Monday charged the crypto exchange and its CEO with violating a number of securities laws, including offering unregistered securities to the public.
Decentralized Exchange DYdX’s Token Spikes Almost 10% After SEC Sues Binance for Alleged Securities Violations
The surge in DYDX comes as the SEC alleges BNB and BUSD – tokens belonging to centralized exchange Binance – are unregistered security offerings.
Binance Endures $69M in Net Outflows Within an Hour, Amid SEC Charge: Nansen
The world’s largest crypto exchange was sued for multiple securities law violations by the U.S. Securities and Exchange Commission on Monday.
Coinbase Shares Drop 10% Following SEC’s Suit Against Binance
Shares of Coinbase (COIN) were down 10% after news broke that the Securities and Exchanges Commission (SEC) sued Binance on allegations of violating federal securities law on Monday.
SEC Sues Crypto Exchange Binance, CEO Changpeng Zhao Over Multiple Securities Violation Allegations
The U.S. Securities and Exchange Commission is suing crypto exchange Binance and its CEO, Changpeng “CZ” Zhao on allegations of violating federal securities laws.
Virtual Reality Tokens Surge 8% as Traders Await Apple’s VR Headset Release
Cryptocurrency’s virtual reality sector has surged by almost 8% over the past 24 hours as investors anticipate Apple’s VR headset reveal on Monday.
Optimism-Based Velodrome Token Slides Nearly 8% Ahead of Major Upgrade
Velodrome’s upgrade is slated for June 15 and is a complete overhaul of the protocol.