NewsBriefs - Coinbase criticizes SEC's increased budget request as enforcement-heavy

Jun 14, 1:09 AM Cryptoslate

Coinbase criticizes SEC's increased budget request as enforcement-heavy

Coinbase has condemned the SEC's $2.6 billion budget proposal for 2025, especially criticizing the $812.4 million earmarked for enforcement, representing an increase from the previous year. Coinbase argues this strategy emphasizes regulation by enforcement rather than providing clear crypto regulations. Concurrently, the American Securities Association (ASA) has appealed to the US government to reduce the SEC's budget, insisting on prioritizing investor protection and market fairness over expansive enforcement policies.

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• Jun 20, 4:30 PM Crypto Briefing

  Kraken recovers $3M in funds from CertiK, ending bug bounty dispute

  Kraken, a major cryptocurrency exchange, successfully recovered nearly $3 million from CertiK, a blockchain security company, resolving a dispute that began with CertiK's withdrawal of funds after discovering a vulnerability in Kraken's system. CertiK argued that they conducted a security test, while Kraken accused them of extortion. The conclusion of this incident raises concerns about responsible disclosure practices in the crypto industry. Additionally, this event has cast a spotlight on CertiK's controversial practices and Kraken's ongoing legal challenges with the US Securities and Exchange Commission.

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• Jun 20, 12:50 PM Crypto Briefing

  Bitfinex analysts see no significant Bitcoin movement from US presidential debates

  Bitfinex analysts predict that the Bitcoin price will not be substantially affected by the US presidential debates between Joe Biden and Donald Trump on June 27th. The broader crypto market and PolitiFi tokens linked to presidential candidates might exhibit short-term volatility. Despite potential discussions on crypto regulations during the debates, substantial market impact is not expected. However, conversations on capital gains and crypto taxation policies during the debates could influence the market.

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• Jun 20, 12:28 PM Crypto Briefing

  MicroStrategy buys 11,931 more Bitcoins after a successful $800M note offering

  MicroStrategy has increased its Bitcoin holdings by acquiring an additional 11,931 tokens for approximately $786 million. This purchase followed the successful completion of their $800 million convertible note offering. The company, under the leadership of Michael Saylor, continues to utilize debt financing as a core part of its strategy to invest in Bitcoin. Following this latest acquisition, MicroStrategy's Bitcoin portfolio is valued around $14.8 billion.

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• Jun 19, 12:55 PM Crypto Briefing

  SEC closure of Ethereum investigation spurs major gains in Base meme coins

  Following the SEC's conclusion of the Ethereum investigation without imposing security charges, Base meme coins experienced dramatic increases. Leading the surge was Farcaster Flower, jumping 116% with others like Basenji and BERF also showing significant gains. Despite these rises, the low trading volumes highlight the ongoing volatility and risk associated with these crypto tokens.

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• Jun 19, 11:00 AM Crypto Briefing

  Binance introduces HODLer airdrops for BNB holders in Simple Earn

  Binance has announced the launch of HODLer Airdrops, a new reward initiative for BNB holders participating in the Simple Earn yield program. The campaign focuses on providing airdrops from upcoming projects with significant circulating supplies and aims to bolster engagement with emerging tokens. Eligible users must complete KYC and adhere to specific jurisdictional criteria to receive airdrops directly in their Spot Wallets following predefined snapshot evaluations of their holdings.

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• Jun 19, 1:39 AM Crypto Briefing

  SEC concludes Ethereum 2.0 investigation with no charges against ETH

  The US Securities and Exchange Commission (SEC) has concluded its investigation into Ethereum 2.0, determining that Ether (ETH) sales are not securities transactions. This decision, announced by Consensys, signals significant relief for Ethereum stakeholders by dispelling legal uncertainties and fostering continued growth in the crypto sector. Despite the positive ruling, Consensys highlights ongoing challenges in securing clear regulatory guidelines for crypto services like MetaMask Swaps and Staking.

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• Jun 18, 2:00 PM Crypto Briefing

  zkSync sees over 71% of top holders sell after token airdrop

  Following the airdrop of zkSync tokens, over 71% of the top 10,000 recipients sold their tokens, either partially or completely, within 30 hours. Nansen's data shows 4,113 addresses liquidated their entire stake, releasing over 347 million ZK tokens into the market. Additionally, 3,033 wallets sold nearly 150 million tokens. In contrast, 28.5% of these addresses chose to retain their tokens, possibly influenced by zkSync's competitive fully diluted value in comparison to other Ethereum layer-2 solutions. Current market metrics suggest potential future price increases, reflecting past patterns observed in similar airdrops.

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• Jun 17, 8:25 PM PR Times

  Animoca Brands Japan introduces NFT platform SORAH with exclusive collections

  Animoca Brands Japan, a subsidiary of Animoca Brands, has launched a new NFT trading platform called "SORAH by Animoku Brands Japan." This platform debuted with exclusive NFT collections including "San FranTokyo Visions," "Captain Tsubasa Team Collection," and "SHIBUYA109 FASHION COLLECTION," and offers a free "SORAH Membership NRT" to promote ease of access and exclusive benefits for users. The platform aims to serve as a Web3 gateway, facilitating the global exchange of prominent Japanese content and enhancing Japan's role in the Web3 ecosystem.

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• Jun 17, 5:28 PM The Block

  Coinbase introduces trading in pre-launch markets for select traders

  Coinbase has launched a pre-launch markets feature through its international and advanced exchanges, enabling certain institutional and retail traders to trade perpetual futures contracts on crypto tokens before their official release. This new offering, designed for markets outside the US, Canada, and the UK, allows traders to speculate on the values of upcoming crypto projects. The initiative uses a unique pricing mechanism, different from standard perpetual futures, and caps leverage at 2x with a position limit of $50,000 notional value, highlighting a cautious approach to manage risk in these volatile trading conditions.

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• Jun 17, 12:42 PM Crypto Briefing

  Tether launches Alloy, a new gold-backed digital asset

  Tether introduced Alloy, a new digital asset backed by its Tether Gold and pegged to the US dollar, aimed at blending the stability of gold with digital currency benefits. Alloy allows users to mint tokens using Tether Gold as collateral on the Ethereum mainnet, facilitating diverse asset management opportunities. This innovation is part of Tether's broader strategy to expand beyond traditional crypto products into areas like education, AI, data, and Bitcoin mining, while investing $1 billion in startups by 2025.

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• Jun 17, 6:00 AM Crypto Briefing

  Binance lists ZKsync trading pairs amid airdrop criticisms

  Binance has announced the listing of ZKsync trading pairs and a new token distribution program aimed to address growing concerns from the crypto community. The criticism focuses on the ZKsync token airdrop’s fairness and susceptibility to Sybil attacks, which compromise airdrop integrity by allowing users to create multiple fake accounts. In response to these issues, Binance is offering a giveaway program, distributing 10.5 million ZK tokens to select users who meet specific transaction criteria within the ZKsync Era transactions.

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• Jun 17, 2:03 AM Scroll_ZKP

  Scroll set to launch native token NURI for its DEX on June 19

  Scroll has revealed plans to introduce its native token, NURI, for its decentralized exchange (DEX), Nuri Exchange, on June 19. The launch will incorporate features from Uniswap v3, focusing on enhanced security, governance, and incentives, aimed at optimizing the exchange for high-frequency liquidity providers (LPs) and layer 2 (L2) scalability. This move is expected to significantly influence the decentralized finance (DeFi) landscape.

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• Jun 17, 1:45 AM WSJ

  Stablecoins may stabilize US debt by boosting Treasury purchases

  Amid an impending national debt crisis driven by unsustainable entitlement programs, stablecoins present a new fiscal opportunity. Backed by the US dollar and secured by blockchain technology, stablecoins are emerging as significant purchasers of US government debt, now standing just outside the top ten countries in holdings. This growth highlights their potential role in supporting the dollar's dominance as the primary international reserve currency, amidst increasing global digital financial shifts and challenges from international competitors like China.

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• Jun 16, 1:31 PM Decrypt

  Tether co-founder discusses new crypto ETFs and Wall Street's influence

  Tether and WAX co-founder William Quigle predicts a continued rise in crypto ETFs following the successful launch of spot Bitcoin and Ethereum funds in the US. Quigley highlights Wall Street's profit-driven strategy as a catalyst for the development of additional crypto ETFs, despite potential risks associated with mainstream financial market integration. He expects traditional finance to keep pushing these products until a market pullback prompts a reassessment.

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• Jun 16, 12:01 PM Bitcoin Sistemi

  Biden administration to host crypto policy roundtable with Mark Cuban and lawmakers

  In early July, key figures from the Biden administration, including entrepreneur Mark Cuban and lawmakers from both houses, will convene in a roundtable organized by Rep. Ro Khanna to discuss crypto policies. This meeting, aimed at fostering Bitcoin and blockchain innovations, underscores crypto's growing significance in US economic and political spheres, especially as the 2024 presidential elections near.

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