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Defi TVL Holds Steady Above $42 Billion as Lido Finance Dominates With $12.69 Billion Locked

On June 18, 2023, the total value locked (TVL) in decentralized finance (defi) protocols has been rangebound and hovering at just above the $42 billion range. Presently, Lido Finance dominates the value locked in defi with $12.69 billion or 29.76% of...

Bitcoin Records Over 12 Million Ordinal Inscriptions, Miners Accumulate $46 Million as BRC20 Market Cap Declines

As of June 18, the latest figures reveal over 12.49 million Ordinal inscriptions have been recorded on the Bitcoin blockchain. The inscription trend has yielded substantial gains for bitcoin miners, who have accumulated 1,732 BTC equivalent to $46 mi...

Warnings of Regulatory ‘Siege,’ Binance US Asset Freeze Averted, Schiff Says Fed Destroyed US Banking System, and More — Week in Review

Red tape and confusion has been the theme in crypto news as of late, with cryptocurrency firms scrambling to stay compliant with regulators like the U.S. Securities and Exchange Commission (SEC), with little to no definite regulatory clarity made ava...

Crypto Payments Firm Wyre Shuts Down — Users Told to Remove Assets From Platform

Wyre, the San Francisco-based crypto payments firm, has said it is winding down operations “in order to protect the best interests” of its users and stakeholders. The firm urged users with assets on its platform “to continue to with...

Nigerian Currency Falls by More Than 30% After Central Bank Announced New Forex Market Rules

The Nigerian currency’s official exchange rate versus the greenback recently plunged to NGN634 per dollar from just under NGN470 per dollar. The central bank’s decision to allow the naira to “float” came a few weeks after Nigerian p...

Russian President Putin Discusses End of US Dollar Dominance — Claims Russia Has No De-Dollarization Plan

Russian President Vladimir Putin has discussed the end of the U.S. dollar dominance, claiming that Russia has nothing to do with the USD’s downfall. “We have never had and do not have the goal of de-dollarization,” Putin also stressed, highlighting g...

Economist Peter Schiff: US Dollar Decline Will Be ‘Far Greater’ Than Yellen Warns — Fed Chair Powell ‘Clearly Worried’ About Financial Crisis

Economist Peter Schiff says the U.S. dollar decline will be “far greater” than what Treasury Secretary Janet Yellen has warned. “This portends a significant decline in our standard of living,” he cautioned. Furthermore, the economis...

Robert Kiyosaki Warns More Banks Are About to Fail

Robert Kiyosaki, author of the best-selling book Rich Dad Poor Dad, has warned that more banks are about to fail. “Regional banks and mortgage companies are falling,” he cautioned, urging investors to think for themselves and not rely on the guidance...

Economist Steve Hanke Warns of an ‘Ugly’ Recession Looming and Accuses Federal Reserve of Directionless Policies

Steve Hanke, an economist and professor of Applied Economics at Johns Hopkins University, as well as a former member of Ronald Reagan’s Council of Economic Advisors, recently expressed his belief that the U.S. Federal Reserve is lacking directi...

Tesla’s Elon Musk Denies Dogecoin Whale Allegations, Attorney Challenges Wallet Associations

According to a recent letter viewed by the press, Elon Musk denies being a dogecoin (DOGE) whale in the lawsuit that accuses the Tesla executive of engaging in pump-and-dump activities with the meme coin token, which allegedly harmed retail investors...

5 Charges Temporarily Suspended in FTX Co-Founder Sam Bankman-Fried’s Legal Battle

The U.S. Department of Justice (DOJ) and federal prosecutors in New York have opted to temporarily suspend five charges against the beleaguered FTX co-founder Sam Bankman-Fried (SBF). Nevertheless, these five charges have been “severed” a...

Binance, CZ Agree to Repatriate US Customer Assets, SEC Secures Court Order

Binance and the U.S. Securities and Exchange Commission (SEC) struck a deal to avoid the freezing of the crypto exchange’s assets in the United States. Under an emergency relief secured by the regulator, Binance agreed to repatriate to the U.S. funds...

Biggest Movers: SOL, MATIC Move Away From Key Support Levels on Saturday

Solana climbed for a third consecutive session, as crypto markets rebounded to start the weekend. At the time of writing, the global market cap rose by 3.3%, as bullish sentiment returned. Polygon was another notable gainer, surging by over 5% on Sat...

Bitcoin, Ethereum Technical Analysis: BTC Nears $27,000, as Bulls Make a Comeback

Bitcoin bounced back strongly to start the weekend, as prices moved closer to the $27,000 mark in today’s session. After a recent spell of consolidation, bulls returned to action, buying the recent dip in the process. Ethereum was also higher,...

Kenyan President Ruto Doubles Down on De-Dollarization Call — ‘We Just Want to Trade Much More Freely’

Kenyan President William Ruto has repeated his call on African countries to consider ditching the U.S. dollar when settling cross-border trades. The Kenyan leader claimed that the African continent already has a mechanism that enables the seamless se...

Binance Pulls Out of Netherlands, Seeks to Deregister Cyprus Unit

The world’s largest crypto exchange, Binance, said it’s exiting the Dutch market as it has been unable to obtain registration as a crypto service provider. The news comes after Binance’s entity in Cyprus applied to be removed from the country’s regis...

Cameron Winklevoss Criticizes SEC Regulatory Approach: ‘Securities Laws Written in 1933 Don’t Meet the Realities of the World Today’

Cameron Winklevoss, a co-founder of Gemini, a U.S.-based cryptocurrency exchange, criticized the U.S. Securities and Exchange Commission’s (SEC) posture regarding cryptocurrency regulation. Winklevoss stated that the SEC laws written in 1933 ar...

Russia to Trial Digital Asset Settlements in Foreign Trade

Bank of Russia plans to pilot cross-border payments using digital assets and central bank digital currencies, according to a deputy governor. The top executive believes these alternative instruments could increase efficiency in foreign trade while su...

Web3 Devs Now Focused on Making Games That ‘Traditional Gaming Can’t Match’ — Digital Arms CEO

According to Chris Watkins, the co-founder and CEO of the non-fungible token (NFT) marketplace Digital Arms, many of the Web3 games developed in the last bull cycle were not only seemingly rushed but “lacked the essential element of fun,”...

Blackrock Files for Bitcoin Trust — Analyst Calls It a ‘Real Deal’ Spot Bitcoin ETF Filing

Blackrock, the world’s largest asset manager, has filed to register a bitcoin trust that some believe is actually a spot bitcoin exchange-traded fund (ETF) in disguise. Blackrock is seeking to launch a bitcoin product despite the U.S. Securities and...

Bittrex US Allows Fiat and Crypto Withdrawals Amid Bankruptcy Proceedings

Bittrex US, the now-defunct cryptocurrency exchange in the United States, has recently introduced a plan that permits American customers to withdraw crypto and fiat from the platform, provided they satisfy the required regulatory criteria. This withd...

DAI Emerges as Third-Largest Stablecoin, Overtaking BUSD in Market Capitalization

Makerdao’s DAI stablecoin is now the third-largest stablecoin by market capitalization, surpassing Binance USD (BUSD), which has officially declined to $4.304 billion. DAI’s market valuation on Friday, June 16, 2023, is approximately $4...

US Judge Considers if Crashed Coins of Terraform Labs Were Securities

A judge in the United States considered on Thursday whether the cryptocurrencies created by Terraform Labs were securities. The failed blockchain firm and its founder, Do Kwon, have asked the court to dismiss a case filed by the U.S. Securities and E...

Coinbase Introduces 4% USDC Rewards Amidst SEC Dispute

On June 15, the San Francisco-based cryptocurrency exchange Coinbase announced that customers can now earn 4% rewards on the stablecoin USDC. The news follows Coinbase’s current dispute with the U.S. Securities and Exchange Commission (SEC) ove...

Bakkt Takes Proactive Measures, Delists Polygon, Solana, and Cardano Amid Regulatory Crackdowns

According to a Fortune report published on June 16, the cryptocurrency asset platform Bakkt is delisting three cryptocurrencies due to the current regulatory climate. Bakkt’s general counsel stated that the platform will expand its coin offeri...

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