A U.S. District Court judge has agreed to a settlement between the Securities and Exchange Commission (SEC), Terraform Labs and its former CEO, Do Kwon, which would have them pay billions in penalties as well as virtually ban them from the crypto industry, according to the court filings. Source
“$66K seems like equilibrium,” said well-followed analyst Skew in an X post, who along with others is trying to decode a market that won’t go sustainably higher despite a lot of recent bullish news: improving inflation data, a Bitcoin-friendly presidential frontrunner in Donald Trump, spot ETH ETF approvals, and other risk asset markets (namely U.S. stocks) ripping to new all-time highs. Source
In today’s Crypto for Advisors newsletter, Adam Blumberg shares the key highlights and trends from the recent FA/RIA at the Consensus 2024 conference. Source
In 2018, WallStreetBets once again began to attract media coverage, and the articles took note of both the growth of the subreddit — which was up to 300,000 members by mid-2018—and the bizarre penchant members seemed to have for losing money. The first magazine profile of the website, in Money, was titled: “Meet the Bros Behind /r/WallStreetBets, Who Lose Hundreds of Thousands of Dollars in a Day — and Brag About It.” Source
The European Banking Authority (EBA) published on Thursday the final draft technical standards on prudential matters for firms to comply with that fall under the markets in crypto assets (MICA) legislation. Source
When asked directly whether ETH is a commodity, Gensler didn’t respond with a yes or no, maintaining the uncertain position his agency has held on that asset. At the same hearing, when asked whether it’s a commodity, Commodity Futures Trading Commission (CFTC) chief Rostin Behnam responded, “Yes.” Source
FINMA announced Thursday that FlowBank’s minimum capital requirements were found to have been “significantly and seriously breached.” Source
“On June 9th at 21:24 UTC, @DaddyTateCTO sent 40% of the $DADDY supply to @Cobratate,” BubbleMaps posted. @Cobratate is Tate’s official X account. “But here’s the catch: 11 wallets, funded through Binance with nearly identical amounts at the same time, bought 20% of $DADDY on June 9th, before @DaddyTateCTO’s first tweet.” Source
She is the sponsor of a Technology Advisory Committee that includes members stablecoin issuer Circle, blockchain analytics firm TRM Labs and Cryptocurrency custody firm Fireblocks. The committee was created to protect U.S. citizens from cyber attacks, ensure “responsible development of digital assets,” Goldsmith Romero said at the time. Source
Engaging in memecoin markets without thorough analysis and a clear understanding of the risks involved is effectively gambling, not investing, says Jupiter Zheng, partner at HashKey Capital. Source