A Taiwanese court sentenced a man to one year probation and a $930 fine for betting on elections via Polymarket. This case highlights legal complexities of crypto-based betting platforms and may lead to stricter regulations. #Update #Cryptocurrency @PolymarketHQ
Uphold will stop supporting $USDT, $GUSD, and other stablecoins from July 1 due to new European MiCA regulations. Binance and Kraken are also adjusting policies in response to these changes. #cryptonews
Stani Kulechov, CEO of Avara, aims to raise $50M for Lens Protocol to hit a $500M valuation. This follows a $15M round in Jan 2023. The funds will enhance Web3 social networking with ZKsync tech. #Web3 #Update
XRP surged 0.58% to $0.4941 on June 18, despite a bearish market. Nearly 80M XRP moved by whales, with major transactions to Bitstamp and Bitso. Trading volume spiked 242.21%. Optimism grows with RLUSD stablecoin. #CryptoUpdate
Ethena Labs revamps $ENA tokenomics with mandatory vesting starting June 23. Users must lock 50% of tokens via Ethena, PT-ENA pools on Pendle Finance, or restaking pools to secure USDe transfers. Unvested tokens get redistributed. #Update
David Hirsch, ex-chief of SEC’s crypto unit, denies joining memecoin platform Pump.fun as head of trading. Hirsch plans a family break before son’s college, with next career move undisclosed. Community reacts with 17 David Hirsch tokens. #CryptoNews
The @EddieSeal memecoin team launched a viral tattoo challenge, offering $350 for tattoos and $500 if inked on the head. Videos of the tattoos flooded social media, boosting engagement and visibility. #cryptonews #Update
VanEck is launching Australia’s first spot Bitcoin ETF on June 20, following ASX approval. This low-cost ETF offers a new investment avenue for Bitcoin, but ASIC warns of cryptocurrency risks. #BitcoinETF #Update
Cumberland DRW secures a BitLicense from NYDFS, joining a select group of crypto firms in New York. This milestone boosts institutional trading relationships and underscores the crypto industry’s focus on regulatory compliance. #CryptoCompliance #Update
Coinbase is introducing a feature for international and advanced exchanges that lets users trade futures contracts on tokens before launch. Traders can take long or short positions with up to 2x leverage on unlaunched tokens. #CryptoNews
The SEC’s potential approval of spot Ether ETFs by July 2 has sparked a 12% rise in $ETH over 30 days. Increased whale activity sees 700,000 ETH purchased. Analysts predict significant market acceptance and potential long-term gains. #Update #Ethereum
Peter Schiff warns that hedge fund strategies using Bitcoin and $MSTR could destabilize the market. Despite Bitcoin ETF buying, prices remain low, suggesting manipulation. Indicators show bearish sentiment. Investors should monitor hedge fund actions. #Update #CryptoMarket
Bitcoin consolidates post-halving despite a 55% YTD surge. Peter Schiff criticizes the value of spot BTC ETFs, yet institutional demand remains strong with BlackRock and Fidelity amassing $10B AUM. On-chain data shows holders are “hodling.” #Bitcoin #Update
Tether launches Alloy (aUSDT), a new stablecoin backed by Tether Gold (XAUt) and pegged to the US dollar. Stored in Swiss gold reserves, Alloy operates on Ethereum, featuring an over-collateralized synthetic issuance platform. This marks a major step for stablecoins. #CryptoNews
