Weekly Cryptocurrency News | Attention to the US SEC’s Binance Coinbase lawsuit, confirmation of large BTC remittances, etc.

news of the week

We will deliver mainly the news of the week (6/3 to 6/9).

News that the U.S. Securities and Exchange Commission (SEC) has filed lawsuits against major cryptocurrency exchanges Binance and Coinbase in a row has attracted attention this week.

Regarding the market, the report on the 6th, which summarizes the fact that the cryptocurrency has fallen across the board due to the Binance lawsuit, is attracting a lot of attention.

In addition, many articles were read that reported that Bitcoin (BTC), which had been dormant for over 10 years, had moved worth 5.2 billion yen.

1. This week’s news ranking
2. Market news ranking
3. Virtual Currency/Blockchain Industry News

This week’s news ranking

1st place: US SEC sues Binance and Mr. CZ, claiming many cryptocurrency stocks as securities (6/6)

The US SEC has announced that it has filed a lawsuit against cryptocurrency exchange Binance and its CEO Changpong Zhao (CZ). A total of 13 charges have been filed, including the provision of unregistered securities, and the lawsuit includes the US division “Binance US”. (the article ishere)

2nd place: Coinbase lawsuit SEC Gensler Chairman “I don’t need virtual currency anymore” (6/7)

The US SEC announced on the 6th that it has filed a lawsuit against US cryptocurrency exchange Coinbase. The SEC has pointed out that Coinbase’s staking service is an offering of securities, and has also questioned its unregistered trading, brokerage, and clearing services. (the article ishere)

3rd place: Bitcoin, which has been dormant for over 10 years, moves worth 5.2 billion yen Reason for remittance unknown (6/9)

“Lookonchain”, which analyzes blockchain, reported on the 8th that about 1,432 BTC (equivalent to 5.2 billion yen) of bitcoin that had not moved for more than 10 years was remitted. According to the data, the target address deposited 1,432.92 BTC on April 9, 2013. (the article ishere)

Market news ranking

1st place: SEC’s Binance lawsuit causes the virtual currency to plunge to the $25,000 level (June 6)

Bitcoin fell 4.2% from the previous day to $25,750. The US SEC filed a lawsuit against Binance, and the cryptocurrency market fell across the board today. (the article ishere)

2nd place: The virtual currency market has severe price movements The aftermath of the Binance Coinbase lawsuit by the SEC continues (6/8)

The aftermath of the US SEC’s successive lawsuits against Binance and Coinbase continues in the market today. Bitcoin fell 1.81% from the previous day to $26,392. (the article ishere)

3rd place: Bitcoin flat, spot trading volume on major exchanges down 20% month-on-month (June 9)

Bitcoin price is flat today. While major stock indices in Japan and the United States rallied, bitcoin was doldrums. (the article ishere)

Virtual Currency/Blockchain Industry News

Ethereum’s next upgrade “Dencun”, what is the importance and merit? (6/9)

Ethereum (ETH) blockchain developers have compiled a list of improvement proposals (EIPs) for the next upgrade, Dencun, at a meeting on the 8th. The biggest planned change is EIP-4844 “Proto-Danksharding”. (the article ishere)

Binance US Suspends US Dollar Deposits and Withdrawals, Focusing on Stablecoin-Denominated Trading Services (6/9)

Binance US announced today that it will suspend US dollar (USD) deposits and withdrawals from June 13, 2023. Along with this, Binance US has announced a policy to abolish the US dollar-denominated trading market and move to a platform that only targets cryptocurrencies. (the article ishere)

Binance US Removes Some Currency Pairs (6/8)

Binance US announces decommissioning of some currency pairs. The content has changed since the initial announcement, canceling the planned abolition of the “USDT” currency pair, and explaining that only the BTC and BUSD pairs will be subject to abolition. (the article ishere)

Virtual currencies ADA and SAND criticize US SEC securities claims (6/8)

When the U.S. SEC sued Binance and Coinbase, the projects of the stocks cited as examples of securities objected. This article reports the comments of ADA and The Sandbox (SAND). (the article ishere)

Wilcke, co-founder of Ethereum, sent ETH equivalent to 5.5 billion yen to a virtual currency exchange (6/6)

A wallet believed to belong to Ethereum co-founder Jeffrey Wilcke was found to have sent 22,000 ETH (equivalent to 5.5 billion yen at the remittance rate) to the cryptocurrency exchange Kraken on the 5th. Investors pay more attention to large-scale remittances, as remittances to exchanges in general can lead to selling pressure. (the article ishere)

US Ark Invest buys Coinbase shares equivalent to 3 billion yen on the day of SEC lawsuit (June 9)

ARK Invest, a major US hedge fund, purchased additional Coinbase shares worth 3 billion yen ($21.6 million) on the 6th, when the US SEC announced the lawsuit, according to a transaction disclosure. The company is a major investment fund established in 2014. (the article ishere)

JVCEA proposes issues and improvement measures for crypto asset IEO and leveraged trading at LDP Web3PT (6/7)

The Liberal Democratic Party’s Web3 project team held its first meeting of the year on the 6th. At this conference, Mr. Genki Oda, Vice Chairman of the Japan Crypto Asset Exchange Association (JVCEA), made a report on “regulatory compliance of crypto asset exchange service providers”. (the article ishere)

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