Crypto Magazine

The U.S. SEC has concluded its investigation into Paxos with no enforcement action against the company regarding its Binance USD BUSD stablecoin This decision follows a Wells Notice issued last year, suggesting potential action. Paxos has maintained that BUSD is not a security under federal laws and views the end of the investigation as a positive development, likely spurring further stablecoin adoption.

DeFi Lender Liquity To Undergo “Friendly Fork” In V2 Upgrade Liquity, a Decentralized Finance (DeFi) lender is prepared to undergo a “friendly fork” as part of its v2 upgrade. In a blog post, the protocol stated that it decided to go through the friendly fork after an intense reflection on the history of its v1. This review coupled with Liquity’s desire to take a more proactive approach with third-party deployment of its v2 upgrade. Ultimately, Liquity sees the possibility of having the v2 codebase as the preeminent solution for launching a collateralized onchain stablecoin.

Sony Acquires Amber Japan, Enters Crypto Exchange Market Sony Group has entered the crypto exchange field by acquiring Amber Japan. This follows Amber Group's earlier acquisition of Japan's regulated crypto platform DeCurret. Amber Group faced difficulties after FTX's collapse, leading to a debt-to-equity transaction with Fenbushj. Amber Group's investors include Temasek, Sequoia China, Pantera, Tiger, and Coinbase.

North Korea's Lazarus Group Exploited Defi Protocol Alex Lab for $4.3 Million, Probe Reveals Bitcoin layer-two developer Alex Lab revealed that an investigation linked the North Korea-linked Lazarus Group to the $4.3 million exploit that occurred on May 16. Alex Lab has facilitated communication between the Singapore Police Force and relevant cryptocurrency exchanges as part of the ongoing investigation.

💰 US-listed Bitcoin miners hit record $22.8 billion market cap amid stock surge Publically traded Bitcoin mining companies in the US briefly reached a combined market cap of $22.8 billion on June 15 amid a surge in their stock price during June. According to a recent analysis by JP Morgan, the growth is driven by an increase in network hashrate share and diversification into artificial intelligence (AI) data center ventures.

Memereum Stands Out In The Rapidly Evolving World of DeFi Memereum, a DeFi project revolutionizing the world of DeFi with its groundbreaking approach to trading, is launching a decentralized exchange (DEX). The DEX, known as MemeswapBETA, is set to redefine how users interact with and secure their digital assets by offering a unique combination of security and user control. It offers an insurance mechanism that ensures that assets are protected from any risks.

🖼 Crypto Unicorns Airdrop to Treat Its NFT Gamers Post-Halt Keeping gamers in mind during its migration from Polygon to Xai, Crypto Unicorns—an Ethereum-based game infused with NFTs—has announced plans for a play-to-airdrop campaign scheduled to launch next month. Amidst the chain-switch, Crypto Unicorns pauses gameplay until its eagerly anticipated return “in a month”—aligning with its upcoming play-to-airdrop initiative, promising an exciting resurgence afterward.

📊Bitcoin and ether options implied volatility forecasts lackluster market in June: analysts The current levels of implied volatility for bitcoin and ether options — a measure of expected future price movement — indicate that traders expect the market to be relatively calm over the coming weeks, analysts said. "Implied volatility rank is 40 and implied volatility percentile is 52, both mid-level indicators which show the market is not expecting a lot of activity," Luuk Strijers told The Block.

🇪🇺 EU elections could hint at future direction for crypto regulations, Bitfinex analyst says The European Union Parliamentary Elections, taking place next week, could provide further clues on how crypto will be regulated in that market, according to Bitfinex Head of Derivatives Jag Kooner. "A right-wing shift could lead to stricter crypto controls, while a pro-crypto outcome might accelerate supportive regulations like MiCA," Kooner told The Block.

📊 Blast Blockchain Surges to Sixth Largest DeFi Network The recently launched Blast blockchain has quickly ascended the ranks to become one of the most prominent players in the decentralized finance (DeFi) sector. According to data compiled by DeFiLlama, Blast Blockchain has surged in popularity, now ranking as the sixth-largest blockchain by DeFi assets. The total value locked (TVL) on the Blast network has soared to over $1.9 billion, positioning it just behind industry giants like Ethereum, Solana, Tron, BNB Chain, and Arbitrum.