Terra Classic’s price reached nearly $0.0001 range. LUNC exceeded $1 trillion in staking. In an exciting turn of events, Terra Classic (LUNC) has demonstrated remarkable resilience against building selling pressure, leading to a substantial recovery in its value. At the time of writing, the cryptocurrency experienced a notable surge, with LUNC trading up over 4% at $0.0000953. This surge also marks a significant rebound of nearly 12% from the fresh yearly lows witnessed over the last two weeks, where LUNC dropped to the $0.0008449 range. LUNC Rapid Spike Takes Center Stage in the Market Legal battles escalate in the crypto sphere, and market leaders like Bitcoin (BTC) and Ethereum (ETH) have been on a downtrend due to the Securities and Exchange Commission’s (SEC) crackdown on leading trading platforms Coinbase and Binance, which has made matters worse. However, while the bleeding in the major cryptocurrencies continued, LUNC maintained its upward trend and emerged as the “top cryptocurrency gainer” with three consecutive green candles. These price changes come after “staking in Terra Luna Classic surpassed $1 trillion” and recorded a new record high in the past year. Following that, on May 13, the LUNC price soared about 10% and reached nearly a $0.0001 range. Terra Classic (LUNC) Price Chart (Source: CoinGecko) In addition, Terra Classic holds a 24-hour trading volume of over $83,508,945, which soared about 70%, and a market cap of $559 million. Further, this remarkable comeback indicates the resurgence of renewed confidence and bullish sentiment surrounding the Terra Luna Classic. Recommended for you Terra Classic (LUNC) Price Prediction 2023

Judge instructs SEC and Binance.US to find compromise, prevent asset freeze. SEC files urgent motion for restraining order against Binance.US on June 6. Binance.US and the Securities and Exchange Commission have reached an agreement to collaborate on a resolution that avoids a complete asset freeze at the cryptocurrency trading platform, following allegations of illegal operations by the regulator. The recent statement from US District Judge Amy Berman Jackson highlights the significant progress made by both parties in identifying ways to protect billions of dollars in customer funds, without the need to shut down the exchange during the SEC’s lawsuit. The judge has directed them to collaborate with a magistrate judge to finalize a compromise agreement that addresses this critical aspect. Recognizing the ongoing negotiations between the parties, Judge Jackson confirmed that she would refrain from rendering a final judgment on the SEC’s motion for a temporary restraining order until the matter had been thoroughly addressed with the assistance of the magistrate. According to reports, prior to Judge Jackson’s decision, former SEC enforcement attorney John Read Stark shared with his Twitter followers that there was significant disagreement between the parties regarding their desired outcomes from the hearing. On June 6, the Securities and Exchange Commission (SEC) filed an urgent motion for a temporary restraining order against Binance.US, citing concerns that Binance CEO Changpeng “CZ” Zhao could access customer funds held at Binance.US. Recommended For You: Binance Coin (BNB) Price Prediction 2023

The 40th edition of the World AI Show held in Jakarta brought together tech mavens and industry leaders from the artificial intelligence (AI) space under one roof where they shared valuable insights with the audience. With the fast-paced growth of the global digital infrastructure, businesses and countries today have leveraged the capabilities of AI to augment their digital transition plans. The World AI Show covered a wide array of topics that dominate the AI space today through engaging panel discussions and informative key note speeches. With leading thought leaders, industry experts, and policy makers in attendance exploring the impact of AI on Indonesia’s digital transformation journey. At the World AI Show, Trescon’s Group CEO, Naveen Bharadwaj announced the Digital Acceleration & Transformation Expo (DATE), an upcoming event that will feature 10 co-located events and attract over 5,000 business visitors. With an aim to create a platform that keeps the emerging technologies at the centre, DATE was announced to take place in Jakarta in 2024. During the event, KORIKA, a partner at the event, made an official announcement about OpenAI’s CEO, Sam Altman’s visit to Indonesia. The visit is seen as a positive sign by businesses who are leaning towards AI adoption. “At the heart of the eco system lies the essence of collaboration, collaboration is not merely a password it is the driving force behind innovation, economic growth and societal development.” Prof. Hammam Riza, President, Korika “What we have to do first is we have to get the project scoping right” Nicholas Eng, Solution Engineer, Dataiku “Our country is diversified country, how we can reach to the rural areas, mainly that kind of a technology we have to bring it to the rural areas and also, we have to look at it how the sustainability we have to bring using the AI technology” Dr. Sankaraiah Sreeramula, Chief Data Scientist, APP Sinarmas “We need to have very good decisions based on data and from data to information, so in terms of problem solving and decision making we’ll have great assistance from AI and Digital Transformation.” Sabam Hutajulu, Member Board of Directors and Head of Audit Committee, Indonesia Air Asia The World AI Show held several key discussions and insightful keynote speeches that discussed the emerging trends that can help businesses to optimise their operations. One of the thought provoking panel discussion that caught everyone’s attention was on the topic of accelerating digital transformation across Indonesia. The panel featured Dr. Anto Satriyo Nugroho, Director of Research Center for AI and Cybersecurity, National Research and Innovation Agency (BRIN), Shinta Nurhariyanti, Ministry of Communication and Informatics, Directorate of e-Government , Sarwoto Atmosutarno, Chairman, Indonesia Telematics Society (MASTEL). Moderated by Naveen Bharadwaj, Group Chief Executive Officer (CEO), Trescon. They examined the role of AI in improving data quality across government departments and the importance of enhancing efficiency of e-government and public services. With e-governance slowly dominating the conversation, the panellists also brought the focus back on how AI can help enhance the quality and delivery of government services. Another key panel discussion that was worth noting was the discussion on how AI can play a major role in the future of banking in the country. The panel discussion featured Indra Hidayatullah, Data Management & Analytics Division Head, PT. Bank Tabungan Negara, Tbk., Kevin Kane, Chief Technology Officer, Amar Bank, Raine Renaldi, Chief of Economy & Digital Asset Committee, KADIN – Indonesian Chamber of Commerce & Industry. Moderated by Sonny Supriyadi, Head, Pricing & Data Analytics, Maybank Indonesia, the panellists shared insights on how business innovation is evolving with AI and how AI in banking can help establish a solid business continuity. The field of AI still has a long journey ahead of it but the impact that it has had over the past few years is visible. As the world continues to deliberate over the upcoming trends that can have a transformative impact in optimising business and government operations, the World AI Show has become an essential and important platform for knowledge sharing, collaborations and business growth for the AI space. The 40th Global edition of the World AI Show was sponsored and supported by: Supporting Partners: KORIKA and KADIN INDONESIA Platinum Sponsor: Dataiku Gold Sponsors: IBM| Denodo | Alibaba Cloud | Aerospike Executive Roundtable Partner: AMD Bronze Sponsors: Crayon | Altair Exhibitors: Snowflake| Eranyacloud | Exotel Community Partner: IAIS Official Media Partner: tvOneNews For media inquiries and further information, please contact: Nupur Aswani Head – Media, PR and Corporate Communications, Trescon +91 95559 15156 [email protected] Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

FLEX experienced the highest volatility and significant price surge. Several coins saw dramatic shifts in rankings and market dynamics. Caution and research are essential in the highly dynamic cryptocurrency market. In a riveting twist, the last 30 days in the cryptocurrency market have been nothing short of a roller-coaster ride. Notably, a handful of coins have seen significant volatility, causing a seismic shift in rankings and market dynamics. Flexing the Volatility Muscle At the top of the list, FLEX outshines the rest with a jaw-dropping 61.4% volatility in the past month. Astonishingly, its price rose to $2.59, driving a 256% surge in its market value. Consequently, the coin’s market cap stands at a solid $256 million. Currently, the principal exchange platform for FLEX is BKEX. Moreover, other coins are grappling with their dramatic shifts. OVR, for instance, clocked a 53.4% volatility with a modest price of $0.352. Despite the turbulence, it saw a 26% growth, taking its market cap to $18.1 million. However, unlike FLEX, it’s primarily traded on Gate.io. Underdogs Stir the Pot Akash Network and ABBC Coin are also part of this tumultuous list. Specifically, Akash Network, with a volatility of 50.9%, and ABBC Coin, at 47.3%, saw their prices soar to $0.481 and $0.171, respectively. They managed to amass market caps of $94 million and $171 million while actively trading on Kucoin and Huobi. Besides these, despite their volatility, Multichain and ArbDoge AI saw a substantial decrease in their market values. Multichain’s value slipped by 57.3%, whereas ArbDoge AI fell by 53.9%. Significantly, both coins are currently traded on Binance and Huobi, respectively. Arpa, Linear, SUI, and Pepe also showcased high volatility levels. With a 37.8% volatility, Arpa saw a 10.7% decrease in its market value. On the other hand, Linear, with a volatility of 33.6%, recorded a 66.8% increase. To sum up, these cryptocurrencies’ wild fluctuations underline the market’s highly dynamic nature. Hence, caution and research are as crucial as courage in this digital wild West.

As per CoinMarketCap, Shiba Inu token has increased in price by 1.49%. SHIB has encountered a whale transaction of 1.5T tokens. With no surprise, Shiba Inu (SHIB), one of the popular memecoins has been purchased by massive whales over a period. Yet, subsequently, the burn rates are getting higher on the other hand. However, these activities engage the crypto community. From the Shiba Inu (SHIB) records and transfers, Lookonchain has captured the largest holder of SHIB with 1.5 trillion tokens. Meanwhile, as per the current market price, it accounts for $10 million considering the last 24 hours. Largest Whale Records The huge transfer of the SHIB tokens is accumulated from the major cryptocurrency exchanges namely Binance and Coinbase. According to the records retrieved, the largest whale totally has 5.3 trillion SHIB tokens worth $35.5M. Meanwhile, the same whale encountered over the last month on May 16, 2023, where twenty trillion SHIB tokens were transferred. At that time, the value of the transfer is approximately $134 million accordingly to the market price. The identified address of the whale is ‘0x40B3’ from the reports of Lookonchain. Moreover, this whale is considered the top SHIB holder comparing the other records. SHIB Token Activities Over the last 24 hours, the accounted transactions to a dead wallet are nearly 3 million SHIB tokens. Meanwhile, the burn rate is a 13.18% increase compared to the previous day. Currently, Shiba Inu is priced at $0.000006772 with an increase in price of 1.49%. Shiba Inu Price Chart (Source: CoinMarketCap) According to CoinMarketCap, the market capitalization of Shiba Inu is increased by 1.49%, ranking 18th among the other tokens. However, the trading volume is not active and has fallen by 7.87% comparatively. Recommended For You: Shiba Inu (SHIB) Price Prediction 2023

STCSM fuels innovation and promotes scientific literacy in Shanghai. It fosters global scientific cooperation, enhancing Shanghai’s international relevance. STCSM upholds scientific integrity and ethical research practices. Located at the heart of the bustling metropolis, the Science and Technology Commission of Shanghai Municipality (STCSM) consistently fuels the city’s innovative spirit. This dynamic organization is instrumental in developing and implementing groundbreaking scientific and technological plans for Shanghai. Moreover, its commitment to the city’s future is more than just theoretical. They translate their strategies into tangible measures, significantly propelling technological research and transfer across multiple sectors. Additionally, the STCSM, as a critical municipal government body, is proactive in fostering science popularization. They promote scientific knowledge and understanding among the citizens of Shanghai, setting the city apart as a hub of scientific literacy. Advancing International Collaboration and Upholding Scientific Integrity Besides its pivotal local role, STCSM underscores the importance of international scientific cooperation and exchange. By fostering global partnerships, they ensure Shanghai stays at the forefront of scientific discovery and technology development. Consequently, the city is not only a thriving center of innovation in China but also a significant player on the global stage. Furthermore, as per the reports, the STCSM takes the matter of scientific integrity very seriously. The organization works diligently to establish and maintain a rigorous system for scientific research supervision, promoting transparency and ethical research practices. In a unique blend of domestic and international initiatives, the STCSM also facilitates the foreign workforce in Shanghai by managing the review and approval of work permits. Hence, the commission actively contributes to the city’s inclusive growth and multicultural environment. Amid rapid technological change and international interconnectivity, the Science and Technology Commission of Shanghai Municipality continues to be a beacon of progress. Their commitment to fostering innovation, integrity, and cooperation exemplifies how they’re shaping the city’s present and paving the way for Shanghai’s technologically advanced future.

Polygon Labs argues SEC’s ‘exchange’ redefinition misfits decentralized blockchain operations. The proposal’s broad scope could inadvertently impact diverse blockchain-reliant industries. Polygon Labs, a blockchain infrastructure behemoth, is sounding the alarm over the Securities and Exchange Commission’s (SEC) proposed redefinition of ‘exchange.’ The tech titan expressed these concerns in a June 13, 2023, letter requesting the SEC to reevaluate its proposed amendments to Rule 3b-16 under the Securities Exchange Act of 1934. Blockchain Validators: Not Your Traditional ‘Group of Persons’ In the communication, Polygon Labs draws attention to the significant disconnect between the SEC’s proposed interpretation of ‘exchange’ and the reality of blockchain operations. Notably, the SEC’s suggestion that validators on a blockchain network—a host of independent, decentralized participants—should register as a ‘group of persons’ raises eyebrows. On the other side, Polygon Labs argues that due to their decentralization and independence, these validators can’t coordinate as a traditional group. Moreover, the requirement for network operators to register is highlighted as a ‘critical flaw’ with profound implications. This could hinder technological innovation and economic growth in the U.S., an outcome that should be avoided. Ambiguity and Misinterpretation: Two Troubling Aspects Beyond this, the company raises questions about the unclear nature of the proposed “New Rule 3b-16(a) Systems.” Polygon Labs underscores that this ambiguity leaves several questions unanswered, including who the rule targets and whether compliance is feasible. In addition, Polygon Labs points out the sweeping nature of the proposal, encompassing relationships far removed from traditional securities exchanges. The potential for misinterpretation here is vast, potentially causing more harm than good. Unintended Consequences for Blockchain-based Technologies The company ultimately cautions against the SEC’s proposal, expressing concern about its excessively broad scope and the potential for wide-ranging consequences. These unintended consequences could significantly impact diverse industries, especially those reliant on blockchain technologies like permissionless distributed ledgers and decentralized finance. In conclusion, while it’s clear that regulatory frameworks need to adapt to new technological realities, this proposal, according to Polygon Labs, misses the mark. Consequently, the SEC must revise its proposal, balancing regulation and innovation.

The BNB is being sold off for BUSD to suppress volatility in Bitcoin. The controversial tweet raises questions about the crypto community. The U.S. Securities and Exchange Commission has continuously filed lawsuits against the top crypto exchanges, including the world’s largest crypto exchange, Binance. After the lawsuit, Binance gained a lot of support from the crypto community. Recently, Binance CEO Changpeng Zhao replied to the tweet of a crypto enthusiast. The tweet mentioned that the crypto exchange and CEO CZ are selling Bitcoin to defend the BNB $220 liquidation. There is another reply tweet that confirms that Binance has sold Bitcoin. He mentioned that Bitcoin is being sold off for USDT reserves. Moreover, the BNB is being sold off for BUSD to suppress volatility in Bitcoin. He added that this is technically market manipulation, and Binance is definitely up to something here to prevent BNB from crashing as well as Bitcoin. However, CZ replied that Binance had not sold any Bitcoin or BNB. Moreover, the exchange still has a bag of FFT. The controversial tweet raises questions about whether the crypto exchange sold Bitcoin and BNB.

House Financial Services Committee urges Congress for a clear regulatory framework on digital assets. Jurisdictional challenges between SEC and CFTC complicate digital asset classification. The lack of consistent standards leads to uncertainty for market participants and investors. In an ongoing motion, the House Financial Services Committee has called upon Congress to establish a consistent and clear regulatory framework for digital assets, emphasizing the need for regulatory certainty in the ever-evolving landscape. The motion highlights the jurisdictional challenges between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) and the difficulty in determining whether a digital asset should be classified as a security or a commodity. Under the Securities Act of 1933 and the Securities Exchange Act of 1934, the SEC holds full authority over the offer, sale, and trading of securities, with the requirement that all securities must be registered with the SEC or qualify for an exemption. On the other hand, the Commodity Exchange Act (CEA) and CFTC regulations govern the comprehensive regulatory regime for commodity derivatives trading but lack a similar framework for spot trading. The central question is whether a digital asset falls within the definition of security and, therefore, under the SEC’s jurisdiction. The purpose of security includes an “investment contract,” as defined by the Supreme Court in SEC v. W.J. Howey Co. encompasses arrangements involving an investment of money in a joint enterprise, with an expectation of profits derived from the efforts of others. Notably, all four factors must be present for an arrangement for classification as an investment contract. Market participants, consumers, and investors seek regulatory clarity as a digital asset’s classification dictates its requirements and obligations. However, consistent and transparent standards have yet to be established, leading to ongoing uncertainties. Furthermore, enforcement actions by the SEC and the CFTC have revealed divergent views on whether certain digital assets should be classified as securities or commodities. Stablecoin Regulations Lacking: Congress Called to Act For instance, the CFTC recently initiated an enforcement action against Binance, declaring Binance’s BUSD stablecoin, bitcoin, ether, and Litecoin commodities. Conversely, SEC Chair Gensler has expressed that all digital assets, except Bitcoin, should be considered securities. In a recent case against Binance and its Founder Changpeng Zhao, the SEC, they were alleged that Solana’s (SOL), Cardano’s ADA, Polygon’s MATIC, and several other tokens were offered and sold as securities. These inconsistent positions underscore the urgent need for congressional action. Moreover, stablecoins have gained prominence as a class of digital assets designed to provide price stability by being pegged to the value of other assets, most commonly the U.S. dollar. Stablecoins aim to offer reduced volatility, allowing them to function similarly to traditional currencies. However, without a clear regulatory framework, potential risks and implications associated with stablecoins remain uncertain. Given these challenges, the House Financial Services Committee urges Congress to act promptly. By establishing a comprehensive regulatory framework, Congress can provide the much-needed clarity for market participants, consumers, and investors, fostering innovation and safeguarding against potential risks. The ongoing motion signifies the urgency and necessity of regulatory action to address the complexities surrounding digital assets in today’s financial landscape. Recommended For You: U.S House Committee Proposes Draft Stablecoin Law

Uniswap v4 introduces game-changing ‘hooks’ for liquidity pool customization. Architectural upgrades in Uniswap v4 reduce costs and enhance efficiency. Uniswap v4 solidifies its role as a vital component of future financial infrastructure. In an exciting and consequential revelation, Uniswap has announced its vision for v4, promising ground-breaking changes that could redefine the future of decentralized finance (DeFi). Significantly, this update places Uniswap as a critical component of financial infrastructure, a testament to its burgeoning influence in the blockchain space. A Leap Towards Customization: Unveiling ‘Hooks’ One of the key innovations in Uniswap v4 is the introduction of ‘hooks,’ a dynamic feature set to revolutionize liquidity pools. Hooks allow users to add entirely new pool functions, such as dynamically adjusting fees or creating innovative order types. Thus, they enhance the power and flexibility of Uniswap’s platform, paving the way for a vibrant ecosystem. To demonstrate the immense potential of hooks, Uniswap has introduced sample hooks. These include time-weighted average market maker (TWAMM), on-chain limit orders, and customized on-chain oracles. Consequently, we can expect a surge in the diversity and complexity of liquidity pools, marking a significant milestone in DeFi. Architectural Upgrades: Reducing Costs and Enhancing Efficiency Besides introducing hooks, Uniswap v4 also boasts various architectural improvements. These upgrades are designed to support a multitude of unique pools, driving the platform’s adaptability and versatility. To gain deeper insights into these advancements, Uniswap has provided a technical whitepaper explaining its vision for v4. The platform now hosts v4 pools in a single contract. As a result, the cost of pool creation has plunged by a remarkable 99%. Furthermore, a new ‘flash accounting’ system has been implemented. This system dramatically cuts the cost of routing across multiple pools. Developers, therefore, can now leverage Uniswap’s robust security and expansive network effects without constructing their own Automated Market Maker (AMM) from scratch. Consequently, Uniswap v4 brings swift, flexible AMM innovation into one robust ecosystem, enabling developers to focus more on designing unique hook integrations. Indeed, this marks a great stride forward for Uniswap, reinforcing its position as a core component of the financial infrastructure of the future.

Balancer protocol deploys on Polygon’s zkEVM, optimizing Ethereum scaling and driving liquidity growth in the zkDeFi ecosystem. Integration of Balancer strengthens the DeFi experience on Polygon, creating a seamless and interconnected user environment. Balancer’s unique positioning facilitates network-wide liquidity growth on Polygon zkEVM, leveraging the 8020 Initiative and Boosted Pools. In a significant stride towards optimizing Ethereum scaling and driving liquidity growth in the zkDeFi ecosystem, the Balancer protocol has announced its deployment on Polygon’s zkEVM. This move strengthens the DeFi experience on Polygon, creating a seamless and interconnected user environment. Balancer’s unique positioning allows it to play a crucial role in facilitating network-wide liquidity growth on Polygon zkEVM. By harnessing innovative technologies like the 8020 Initiative, Balancer offers deep liquidity, efficient incentive programs, and reduced volatility, leading to the next stage in DeFi governance. The power of Layer2 solutions lies in their ability to enhance Ethereum’s scalability, efficiency, and cost-effectiveness. Hence, Balancer’s integration on Polygon zkEVM amplifies these benefits, opening doors for accelerated development and progress throughout the ecosystem. One of Balancer’s essential features, Boosted Pools, is designed to wrap and route idle liquidity to external yield-generating protocols. This approach ensures optimal resource utilization and provides users with additional sustainable Liquidity Mining incentives. Consequently, this mechanism is primed to turbocharge the growth of DeFi on Polygon zkEVM, offering participants an enhanced and rewarding experience. Significantly, the presence of Balancer on this network expands the possibilities and potential for the entire ecosystem. Besides its commitment to seamless interoperability, Balancer’s collaboration with it strengthens the overall liquidity landscape and enhances platform connectivity. This alliance is a testament to the continuous efforts to build a robust and thriving DeFi ecosystem. Moreover, the deployment of Balancer on Polygon zkEVM signifies a forward-looking approach toward Ethereum’s scalability and liquidity challenges. By leveraging the strengths of both platforms, users can expect improved efficiency, connectivity, and growth in the DeFi space. Long-Term Implications of Balancer-Polygon Collaboration However, it’s worth noting that integrating Balancer on Polygon zkEVM is more comprehensive than its immediate benefits. The long-term implications are far-reaching, as this collaboration paves the way for future innovations and advancements in DeFi. Additionally, this strategic move reinforces the importance of Layer2 solutions in addressing scalability concerns and unlocking the full potential of Ethereum. Balancer’s presence on Polygon zkEVM is a testament to the continuous evolution of DeFi and its ability to adapt to the changing needs of users. Balancer’s deployment on Polygon zkEVM marks a significant milestone toward an optimized DeFi experience. By harnessing the power of technologies like the 8020 Initiative and Boosted Pools, Balancer strengthens liquidity growth, governance, and overall development on Polygon zkEVM. This collaboration sets the stage for a seamless, interconnected, and enhanced future of decentralized finance in its ecosystem. Recommended For You: Polygon’s zkEVM Beta Hits 100K Wallets, Setting New Adoption Record

The two countries have become an unstoppable duo in the crypto world. The partnership is expected to reshape the global economy. The U.S. Securities and Exchange Commission (SEC) has become increasingly aggressive in its pursuit of regulatory enforcement within the crypto world. The SEC has continuously filed lawsuits against the top crypto exchanges, including Binance. It creates uncertainty about the future of the crypto firms operating in the United States. Following that, the BRICS countries of Russia and China set to surpass the U.S. in crypto adoption. According to the report, Russia and China have joined hands to surpass the United States in crypto adoption. The two countries have become an unstoppable duo in the crypto world. While the SEC struggles to make up clarity about the crypto regulations, the move by Russia and China to increase crypto adoption expected to realize the immense potential of crypto. Russia and China’s Collaborative Efforts The two countries are capitalizing on the shifting regulatory landscape to position themselves at the forefront of the crypto revolution. Moreover, with the two superpowers set to support crypto, the world expected to witness an epic shift in the financial landscape. Russia has continuously worked on the development of crypto adoption. Recently, the country has been in talks with Iran, signaling a new era of crypto-enabled trade. This is to create a way for seamless financial transactions. Following that, Russia joined with China to surpass the U.S. in crypto adoption. As China and Russia improve innovation, the U.S. risks falling behind. This may affect the dollar’s dominance. The two countries are strategically positioning themselves to lead the crypto race. Moreover, the partnership expected to reshape the global economy.

If the attacker accepts the offer, the lending platform’s team won’t take any more action. On June 12th, over $800,000 worth of digital assets were stolen from the DeFi platform. Sturdy Finance, a decentralized finance (DeFi) platform, has declared a $100,000 bounty to the hacker who discovered the protocol’s vulnerability. If the attacker accepts the offer, the lending platform’s team won’t take any more action. On June 12th, over $800,000 worth of digital assets were stolen from the DeFi platform. After an attacker exploited flaws in the system. Also, according to the security companies, the vulnerability was caused by a flawed pricing oracle. And the hack was executed via a reentrancy attack. As a result, the website froze all markets and reassured users that their money was safe. Successful Strategy at Times Moreover, a day after the theft, the protocol’s co-founder, Sam Forman, tweeted that the hackers may keep $100,000 provided they returned the remaining funds to a wallet the team had designated. Also, Forman claims that recent hacks have shown that it is no longer simple to avoid vulnerabilities. The CEO has said that the team is prepared to dismiss the matter if the hacker accepts the offer. Forman said that the hacker may come to Sturdy Finance for talks. Furthermore, recent attacks have shown that platforms may be able to retrieve some of the stolen cash by providing rewards to attackers. On April 4, the Euler Finance team was able to negotiate and give a reward to its attacker, resulting in the return of 90% of the stolen assets in one of the largest DeFi attacks this year. Also, Sentiment, a lending protocol, offered a reward to the hacker who exploited their system and recouped $870,000. However, not every project has the same level of success when negotiating with hackers. After an attacker exploited the Jimbos Protocol platform on June 1, the developers behind the protocol offered an $800,000 bounty to anybody who could identify the perpetrator. Moreover, the platform stated that the reward will be given to whoever provided information that results in the hacker’s arrest or the recovery of the cash. Recommended For You: DeFi Protocol Sturdy Finance Loses $800k in Recent Exploit

Binance’s CEO has first responded to the SEC lawsuit. The judgment relies on the U.S. District Court against this case. As of now, the top cryptocurrency exchange, Binance has submitted its responses against the lawsuit claimed by the Securities and Exchange Commission (SEC). The CEO of Binance, Changpeng Zhao reached out to the court responses and it seems the heat of the moment. Considerably, the judgment relies on the U.S. District Court once after the hearing at Washington D.C. earlier today. However, the case will be processed ahead concerning the arguments and discrepancy between Binance and the SEC. Once after receiving the complaint, Binance assured its investors that they prefer safety and provide ensured systems for deposits and withdrawals. Yet, the SEC complaint was truly disappointing, said Changpeng Zhao lately. Following the deadline for Summons issued by the U.S. District Court, Binance CEO has now published his response. Zhao confirmed that there is no FUD on submitting the response whereas it is the procedure that is ‘nothing new’. Currently, Binance looks ahead to proceed with the case of the SEC lawsuit against them as per the court judgment concerning the arguments that have passed so far. Recommended For You: Binance Bullish Against SEC: Netflows Exceed $521M

BTC miners move over $174 million worth of Bitcoin. The movement from miners has witnessed a spike from May 31. 14-day average miner movement of BTC stands at 489.26 BTC. According to blockchain analytics firm Glassnode, there has been an increase in the transfer of bitcoin (BTC) from miners to centralized exchanges since May 31. Data reveals that miners or entities responsible for minting coins by verifying transactions on the blockchain have moved a total of 6,671.99 BTC ($174 million) to exchanges during this period. On June 3 alone, miners transferred 2,606 BTC to exchanges, marking the highest single-day tally in over four years. Bitcoin miners move millions worth BTC The 14-day average of miner transfers to exchanges has seen a significant rise, reaching 489.26 BTC, the highest level since March 2021. Concurrently, the balance in wallets associated with miners has decreased by approximately 2,000 BTC within a two-week timeframe. Historically, the movement of coins from miner or investor wallets to exchanges is often interpreted as an intention to sell or liquidate the coins. Consequently, the increased transfer of coins from miners to exchanges is generally perceived as bearish. However, it is worth noting that these recent transfers account for only 1.3% of Bitcoin’s 24-hour trading volume, which stands at $13 billion. Thus, the impact on Bitcoin’s price is not expected to be substantial. Furthermore, heightened miner transfers are often seen as an expression of confidence in Bitcoin’s price outlook. The underlying logic is that miners’ profitability is closely linked to Bitcoin’s price, prompting them to increase sales when they perceive a strong market capable of absorbing the additional supply. This approach resembles the actions of a central bank from a nation with a current account deficit buying U.S. dollars in the open market when the currency is widely available. By doing so, the central bank can build reserves without risking a depreciation of the local currency. As of now, bitcoin’s price remains within a familiar range above the key support level of $25,200, based on data.

Gary Gensler informs that the last date for commenting on SEC proposals is today. SEC has enabled three ways of receiving public comments. The United States Securities and Exchange Commission (U.S. SEC) has updated and revised its proposals in multiple sections. Some of the releases include Proposed Rules, Concept Releases, Self-Regulatory Organization (SRO) filings, Rulemaking Petitions, Public Company Accounting Oversight Board Rulemaking, and others. The chair of the U.S. SEC, Gary Gensler has tweeted that the last day of providing comments on all the proposals will be, this Tuesday. Ways of Commenting on SEC Proposals According to the invite from the SEC, the public can submit their comments through the online form, or e-mail on the website. The comments are then publicly posted on the website which are sent on paper with a conversion of PDF. If a comment is been repeated with the same content by others, then the first comment will be made public with the count of similar comments received. Additionally, there is no way for entertaining any personal details or information. However, the protection is restrained with the material submission from the public and neglects the offensive comments if thrown. Firstly, the submission of the online form is open and can be identified on the rules index pages. The following form can be accessed through the ‘submit comments’ link. Secondly, the mail option is enabled and can be sent to [email protected]. Mentioning that the message has to be included with the File No. ‘S7’ or ‘SR’. The attachments are accepted in PDFs. Thirdly, the paper letter is another way of commenting on the preferred address. Mainly, it should be listing the File No. as stated for the e-mail format.

The FOMC will decide on rate hikes at their meeting on June 14, 2023. The US Federal Reserve may be more inclined to suspend its rate-hike cycle. U.S. Consumer Price Index (CPI) numbers for May 2023 were issued by the Bureau of Labour Statistics on Tuesday. The authorities said that the CPI for all urban consumers grew 0.1% in May after adjusting for seasonal factors and increased by 4% over the previous 12 months. As a result, the inflation numbers for the month were within expectations, and the annual rate of 4% is the lowest it’s been in roughly two years. Price increases of 0.1% were anticipated by market players, a decrease from the 0.4% increase seen in April 2023. However, the market is expecting the Federal Open Market Committee (FOMC) will decide to suspend rate hikes at their meeting on June 14, 2023. Crypto Market Trading in Green The Consumer Price Index (CPI) tracks the cumulative percentage change in urban consumers’ spending on goods and services over time. The crypto market briefly surged post the data release. With Bitcoin and major altcoins trading in green. The Bitcoin price has risen sharply over the last 24 hours, reaching the $26,000 area just before the publication of CPI statistics. Following the publication of the data, the price of Bitcoin increased by 3% from its daily low of $25,700, before correcting somewhat. The US Federal Reserve may be more inclined to suspend its rate-hike cycle in light of recent reports of falling inflation and the lowest annual inflation rate in two years. There is an absolute certainty that the Federal Reserve will delay any more rate hikes at their next meeting, according to the CME FedWatch Tool. According to CMC, the price of Bitcoin is $25,921, up 0.75% in the last 24 hours.

XRP price surged by 7.4% over the last 24 hours. The price surge follows the release of Hinman Doc. Ripple vs. SEC lawsuit has been prolonged for over two years. XRP prices experienced a 7.4% increase over the past 24 hours, defying minor gains observed in the broader cryptocurrency market. This surge in value is likely attributed to traders speculating on a positive outcome for Ripple Labs in its ongoing legal battle against the U.S. Securities and Exchange Commission (SEC). The price rally coincided with the release of documents related to William Hinman, the former director of the SEC’s Division of Corporation Finance from 2017 to 2020. As part of the ongoing legal proceedings between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), these documents were publicly disclosed. Hinman doc has importance for XRP vs. SEC outcome In a 2018 speech, Hinman expressed his perspective that bitcoin (BTC) and ether (ETH) should not be classified as securities. Emails from Hinman further indicated that there was no need to regulate Ether as a security based on its current offering. Ripple Labs has seized upon Hinman’s remarks to support its argument that XRP should not be considered a security, which could potentially lead to a favorable outcome for the company. The lawsuit, initiated by the SEC in 2020, alleges that Ripple engaged in the sale of unregistered securities. Ripple has historically maintained a distinction between itself and XRP, which serves as the token powering certain products and the XRP Ledger network. However, developments in the legal case have a direct impact on XRP prices. XRP is trading at $0.5278 at press time and it is also up by 3.12% in the last seven days.

The leading digital studio in the world, TheSoul Publishing, has collaborated with BYTE CITY, the next-generation community party platform that combines gaming, community, and creativity, to deliver an unparalleled virtual dance competition to its platform. Polar, a well-known singer, dancer, and influencer with more than 1.8 million TikTok followers and more than 1.3 million YouTube subscribers, is the featured performer at this occasion, which is referred to as the Polar Party Dance Off. Polar is a new voice that embraces teenage rebellion and talks directly to Generation Z. Her followers are drawn to her for her secretive attitude, distinctive aesthetic, and catchy dancing skills. The Polar Party Dance Off is a week-long competition that begins on June 17, 2023, where competitors may showcase their greatest choreography while utilizing unique Polar avatars in an effort to win the grand prize. For the first time ever, a virtual singer has been integrated into a dancing game at this event, and her followers may now purchase Polar avatars. For each participant, this is a one-of-a-kind and thrilling event. Players can participate in unique live performances in-game by Polar during the week-long event, replete with cutting-edge graphics and engrossing audio. Players must register to play on the BYTE CITY website, download BYTE CITY from the Samsung Galaxy Store or Google Play, and join the BYTE CITY Discord group in order to take part in the Polar Party Dance Off. Everyone is invited to participate in the fun.

The Layer-3 infrastructure network for decentralized apps, Orbs, has announced the permissionless beta launch of TON.Vote, a revolutionary DAO-based governance solution for The Open Network (TON). Any TON-based project that wants to incorporate DAO-based governance may now utilize TON.Vote, according to Orbs, with STON.fi, EvAA, TON Punks, and Fanzee were among the first to accept it as official launch partners. Following tight cooperation between Orbs and the TON Foundation, which served as its main design partner for the creation of the app, TON.Vote has been officially launched. The TON.Vote app was developed by Orbs in close collaboration with the TON Foundation to meet the needs of both The Open Network and the projects that make up its ecosystem. All governance ideas and votes may now take place on-chain thanks to TON.Vote. The merkle tree of all votes is openly maintained on IPFS and can be independently checked by any user. Every time a user submits a proposal, a smart contract is formed that contains a reference to the merkle tree of all votes. Users of TON.Vote submit a transaction to the smart contract with their vote (yes/no/abstain), which is subsequently handled off-chain before the results are determined, according to the present implementation. Users’ votes will eventually simply need a digital signature from their wallet, and they will be protected by IPFS. In the event that a uniform wallet signature is adopted by all dApps, votes will then be verified using a wallet sign and be gas-free. TON.Vote uses Orbs’ L3 Guardians technology to confirm that the votes presented in the UI are correct and match those kept in the smart contract’s data, further enhancing security. The Orbs Guardians ensure that there are no data inconsistencies by cross-checking the information that is shown on the front end. This adds another level of security by securing each vote with manual chain checks and independent validators, strengthening the transparent process. After TON.Vote’s soft launch, it assisted in organizing two important community votes for the TON community and its ecosystem. First up was a “Proposal of TON Tokenomics Optimization” that sought community input on whether or not to freeze inactive Genesis mining wallets after 48 months. Due to the fact that they contain more than 20% of the whole supply of $TON, these wallets were causing a great deal of anxiety in the community. By voting “Yes” to giving out 171 Genesis wallets, 71% of the community decided to put an end to the uncertainty. More than 1.4 million votes were cast in the election. More than 695,000 $TON holders participated in the second vote, which determined the prize rankings for TON’s recent “Hack-a-TON” x DoraHacks competition. As launch partners, four of the largest projects based on TON have joined Vote dApp post the official launch of the TON.Vote. They include TON Punks, a top NFT and Play-to-Earn project on TON, Fanzee, the fan interaction platform, STON.fi, one of the top decentralized exchanges on TON, EVAA, a decentralized lending protocol, and the Hack-a-TON community vote winner. TON.Vote is integrated with all four dApps to decentralize governance and provide communities with the chance to participate in future decision-making. The Open Network and Orbs are introducing a new age of decentralized governance on one of the most innovative and powerful Layer-1 networks available with TON.Vote.