Every week, I will be collecting news stories / opinion pieces that I have found to be interesting in the crypto world and I think are important to know. With the world of crypto moving so quickly I've condensing these stories down into one easily digestible article. All the article and images are taken from a news source that I like to use and an alternative to CoinTelegraph called Crypto Briefing.
There is a lot of news that came out over the last seven days, So let's get started!
MicroStrategy Adds 1193s1 BTC To It's Holdings Following $800 Note Deal
MicroStrategy has expanded its Bitcoin holdings after purchasing an additional 11,931 Bitcoin for around $786 million, according to the company’s recent announcement. The latest acquisition follows the completion of its $800 million convertible note offering on Tuesday. To read more about the topic, click here.
Binance Faces $2.2 Million Penalty From India's Financial Watchdog For AML Breaches
The Indian Financial Intelligence Unit has fined Binance 188.2 million rupees ($2.25 million) for violations of India’s Prevention of Money Laundering Act while operating within its jurisdiction, according to an order dated June 19, 2024. In particular, the FIU found that Binance did not comply with various PMLA regulations, including maintaining proper records of financial transactions, adhering to reporting requirements for suspicious activities, and implementing measures to prevent money laundering. To read more about the topic, click here.
SEC Close Investigation into Ethereum 2.0 No Securities Charge Against Ether
The US Securities and Exchange Commission (SEC) has wrapped up its investigation into Ethereum 2.0 and will no longer pursue legal action claiming that ETH sales are securities transactions, according to a recent announcement from Consensys. Back in March, an update on the Ethereum Foundation’s GitHub repository revealed that the organization was under investigation by an unnamed “state authority.” After the discovery, Fortune reported that the SEC pursued an “energetic legal campaign” to classify Ethereum as a security. To read more about this, click here.
Bitcoin Dominance Reaches 56% Showing Cyclical Performance Trends Over Ethereum
While Bitcoin’s price continues to trend downward, its dominance in the general crypto market has, in contrast, surpassed 56%.
At the time of writing, Bitcoin is down 11% from its most recent all-time high. According to data from Glassnode, the level of dominance that Bitcoin is now displaying was previously observed earlier in April this year. Dominance level was last observed consistently in April 2021. Such a gap indicates a critical shift in market dynamics. To read more about this topic, click here.
Over 71% of the Top ZK Holders Sold Their Tokens Post-Airdrop
The airdrop for zkSync native tokens happened this week and over 71% of the top 10,000 addresses sold their tokens completely or partially, according to a dashboard by on-chain data firm Nansen. The dashboard calls the sellers by the slang “jeeters,” and 4,113 addresses jeeted their entire holdings in the last 30 hours, totaling over 347 million ZK tokens. The partial jeeters sold significantly less, as 3,033 wallets dumped nearly 150 million tokens on the market. To read more, click here.
Kraken Recovers $3 Million from CertiK, Ending Contentious Bug Bounty Incident
Cryptocurrency exchange Kraken has reclaimed nearly $3 million from blockchain security firm CertiK, concluding a controversial bug bounty issue.
Kraken’s Chief Security Officer Nicholas Percoco confirmed the return of the funds, minus transaction fees. The incident began on June 9 when CertiK, identifying itself as a “security researcher,” withdrew the funds after discovering a vulnerability in Kraken’s system. To read more about this topic, click here.
That is my weekly roundup of the interesting news coming from the crypto world. Which do you think what the most interesting topic and why? If you liked the content, please consider following me and tipping the article.
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Until next time, stay classy crypto world!
