These are challenging times for the crypto market, but bitcoin is holding firm.
Blockchain-Based, AI Compute Protocol Gensyn Closes $43M Series A Funding Round Led by a16z
The capital infusion comes as interest in AI surges. Gensyn said it would use the money to accelerate the launch of the protocol and expand its workforce.
Binance’s Nigeria Unit Ordered to Halt ‘Illegal’ Operations by Securities Watchdog
The order against Binance Nigeria Limited follows U.S. SEC allegations that the exchange had violated federal securities laws.
Millions in Polygon’s MATIC Tokens Were Sent to Binance and Coinbase Ahead of 30% Slide, Data Shows
“Altcoins can crash this weekend even more as trading volumes are thin and market makers such as Binance have become less active,” one crypto firm warned.
SOL, ADA, MATIC Tokens Slide 20% in Sudden Move Days After SEC Lawsuit Allegations
Several tokens were alleged as securities earlier this week, leading to a possible risk-off among traders.
Custodia’s Suit Against Fed Over Denial of Master Account Can Proceed, Court Rules
Custodia’s challenge of the Federal Reserve Bank of Kansas City’s decision to deny the crypto-friendly bank access to the Fed banking services can continue, a U.S. district court ruled Thursday, rejecting a Fed motion to dismiss the case. The U.S. District Court of Wyoming, however, did reject Custodia’s request that the Fed be compelled to grant it a so-called master account and membership with the Fed, Instead, Custodia must continue its claims via normal channels.
SEC Clampdown Spurs $4B Deposit Flight From Binance, Coinbase and Binance.US
The exchanges, targeted by the SEC for violating federal securities laws, have endured a significant wave of user withdrawals but managed to process transactions in an orderly fashion so far.
CFTC Wins Lawsuit Against Ooki DAO
Binance’s BNB Token Saw Millions in Sell Orders Right Before SEC Lawsuits
In trading, timing is everything and it appears that some traders put in well-timed sell orders for BNB, ahead of the massive SEC crackdown against crypto exchange Binance on June 5.
Bitcoin Payments Firm Strike Moves Custody In-House After Ditching Third-Party Services
The move is a “culmination of over two years of effort,” according to Strike CEO and cofounder Jack Mallers.
Crypto.com Winding Down U.S. Institutional Business
Singapore-based crypto exchange Crypto.com will no longer be offering its service to institutional clients in the U.S. due to “limited demand,” the company announced Friday.
Louis Vuitton’s Soulbound Luxury NFTs, Apple’s Expensive Vision
Sotheby’s will sell Dmitri Cherniak’s “The Goose” NFT at a live auction this month, while Mercedes Benz released a collection inspired by its luxury vehicles.
Ethereum’s Buterin Releases Roadmap Addressing Scaling, Privacy, Wallet Security
In his blog post, Buterin shares that the network needs to address these components simultaneously, otherwise the blockchain fails.
Mt. Gox’s Hackers Are 2 Russian Nationals, U.S. DOJ Alleges in Indictment
The U.S. Department of Justice charged Russian nationals Alexey Bilyuchenko and Aleksandr Verner with hacking Mt. Gox in 2011, at the time one of the biggest thefts in the crypto industry.
Ether Options Market Makers Are ‘Long Gamma’ at $1.8K
Traders said market makers are holding options with a $1,800 strike price and are likely to influence prices as they try to keep their portfolios direction-neutral.
Curve Finance CEO Egorov Sued by 3 DeFi-Focused Venture Capital Firms
Michael Egorov, the CEO of decentralized finance (DeFi) firm Curve Finance, is being sued for fraud by venture capital firms ParaFi Capital, Framework Ventures and 1kx in the U.S.
Robinhood Ends Support for Some Tokens Named in SEC Lawsuit as Securities
The popular trading platform will end support for Cardano (ADA), Polygon (MATIC) and Solana (SOL) on June 27th.
Former CFTC Chairman Heath Tarbert Joins Circle as Chief Legal Officer
Tarbert will guide the company’s global strategy as it contends with regulatory issues in the U.S.
First Mover Americas: Binance.US Suspends Dollar Deposits
The latest price moves in bitcoin (BTC) and crypto markets in context for June 8, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
Bitcoin Trades at Narrow Discount on Binance.US
News of a possible halt in U.S. dollar withdrawals sparked an increase in bitcoin trading as customers looked to remove their assets from the exchange, one observer said.