Prometheum CEO Aaron Kaplan Predicts SEC Victory in Ripple Lawsuit
Aaron Kaplan, founder of cryptocurrency brokerage Prometheum, expects the U.S. Securities and Exchange Commission (SEC) to win a lawsuit against blockchain firm Ripple. He believes that the Ripple case is similar to the SEC's case against open source content distribution company LBRY, and thus expects a similar outcome.
Solana's DeFi Performance Declines, NFTs and Social Engagement Offer Glimmer of Hope
Solana's DeFi performance has seen a decline due to falling volumes on the protocol's decentralized exchanges. However, there has been growth in the NFT sector and social engagement, while stakers remain optimistic. Despite a recent lawsuit filed by the SEC causing a decline in sentiment, there has been an increase in the number of addresses staking Solana, indicating continued confidence in the network's long-term potential. Solana's future growth may depend on its ability to make significant strides in the DeFi sector.
Coinbase Doubles USDC Rewards to 4% Amid SEC Charges
Coinbase has announced that it now offers 4% rewards on USDC, doubling its previously offered returns on USD Coin. The updated reward rate is subject to change and can be viewed within customer accounts, but has not yet been added to the latest version of the public USDC page.
Binance.US Cuts Workers After SEC Lawsuit
The American affiliate of Binance Holdings has laid off an unspecified number of employees. The crypto firm is preparing for legal battle with US regulators. The exchange was targeted by the Securities and Exchange Commission last week alongside Binance Holdings Ltd., operator of the much larger crypto venue Binance.com, for allegedly mishandling customer funds, misleading investors and regulators, and breaking securities rules. The companies have disputed the allegations. Su Keenan reports on Bloomberg Television.
Federal Reserve Chair's Statement Raises Concerns About Bitcoin's Future Trajectory
June 16 (Cointime) - Investors are worried about the future of Bitcoin's price following Federal Reserve Chair Jerome Powell's recent statement about interest rates. Speculation is growing about a potential crash that could bring Bitcoin's value down to $20,000.
SEC Regulatory Scrutiny Causes Decrease in DeFi Trading Volumes and Market Maker Activity
June 16 (Cointime) - The SEC's increased regulatory scrutiny of the DeFi industry has led to a decrease in crypto trading volumes and put pressure on major cryptocurrencies. In Q2, trading volumes hit an annual low, with average daily volumes for the top ten tokens dropping to $10 billion from $18 billion in Q1. Bitcoin's individual token market share fell by 20% in Q2, while Ether's volume share increased by 5%.
Blockchain Association Files FOIA Request for Records on Crypto Broker Prometheum Amid Growing Suspicions
June 16 (Cointime) - The Blockchain Association has filed a Freedom of Information Act request with the SEC for records related to crypto broker Prometheum. The move follows co-CEO Aaron Kaplan's appearance before the House Financial Services Committee on Tuesday, which raised questions about the nature of Prometheum's business practices and relationships.
SEC and Ripple Agree: Hinman Emails Don't Govern Current Crypto Policy
June 16 (Cointime) - Ripple Labs and the SEC agree that the Hinman Emails should not dictate current policy. The SEC's past uncertainty regarding the status of ether did not result in formal commission-approved rules or guidance.
Franklin Templeton Explores Blockchain Tech for Mutual Funds, Including Potential Use Alongside Stablecoins
June 16 (Cointime) - Franklin Templeton has launched a money market fund that uses public blockchain to record transactions, marking the beginning of the financial institution's exploration of cryptocurrency's underlying technology.
Prometheum's SEC and FINRA Approval Sparks Controversy in Crypto Community
Prometheum, a lesser-known crypto firm based in New York, has gained approval from both the SEC and FINRA, causing controversy in the crypto community. During a US House Financial Services Committee hearing, Representative Mike Flood called the approval "nonsense" as the firm doesn't offer trading in top crypto assets Bitcoin and Ethereum.
