Binance Launches Institutional, CoinFLEX Pauses Withdrawals, US SEC Chief on Crypto Regulation + More News

Gary Gensler. Source: A relevant video screenshot, Youtube/US Registration


Get the daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the tales flying individually distinct of today’s crypto news.


Exchanges news

  • Binance announced that it’s launching Binance Institutional, a brand new platform for Very important personel and institutional users. Users will get access to execution and also over-the-counter (OTC) services, asset management and child custody, an agent program, along with a liquidity program, they added.
  • Crypto exchange CoinFLEX announced that they’re pausing all withdrawals because of “extreme market conditions a week ago &amp ongoing uncertainty involving a counterparty”, but confirmed that “the counterparty isn’t 3 Arrows Capital or any finance company.” They added that they’re confident the problem could be repaired fully having a restoration of withdrawals.
  • Worldwide risk assessment firm Moody’s stated it’s downgraded crypto exchange Coinbase’s Corporate Family Rating (CFR) to Ba3 from Ba2 and downgraded its guaranteed senior unsecured notes to Ba2 from Ba1, and placed both under review for more downgrades. They are saying this action “reflects Coinbase’s substantially less strong revenue and funds flow generation because of the steep declines in crypto asset prices” which “expects the business’s profitability to stay challenged in the present atmosphere.”
  • Coinbase also mentioned that buyers in the Netherlands transferring digital assets using their Coinbase exchange account to some wallet from the Coinbase platform might need to provide details about the transaction and recipient beginning June 27 to conform with local rules. The needed more information includes the recipient’s complete name, residential address, and the objective of the transfer.
  • Coinbase further announced that buyers can receive and send crypto on Polygon (MATIC) and Solana (SOL) blockchain systems, beginning with ether (ETH), MATIC, and USD Gold coin (USDC) on Polygon, and USDC on Solana. Within the the following month, qualified customers can make use of this feature, and also over time, they plan to increase the coins and much more systems, they stated.
  • Co-founder and Chief executive officer of crypto exchange Bybit, Ben Zhou, launched a gentle proposal for that establishment of crypto treasury BitDAO’s Layer 1 infrastructure. Zhou known as for that community and your customers to positively have fun playing the discussion in addition to send development and research efforts within the Discourse forum or via email.

Regulation news

  • Gary Gensler, the chair of america Registration (SEC), is searching to strike contracts along with other financial agencies to avoid cryptoasset operators from sliding with the cracks from the US’s fragmented regulatory structure, the Financial Occasions reported. Gensler was reported as stating that he ran a “memorandum of understanding” using the US Commodity Futures Buying and selling Commission (CFTC).

DeFi news

  • Decentralized exchange THORChain announced the launch of their mainnet, that they say continues to be 4 years within the making. Like a celebration, THORChain has committed as many as USD 1m in the native RUNE token to crypto exchange Binance users via a 14-days marketing campaign from June 23 to This summer 7.
  • Decentralized staking platform Convex Finance setup new website addresses (URLs) following the previous address was in an attack that misdirected users to some malicious website. The problem was remediated and it is being investigated, the developers added.

Mining news

  • Bitcoin (BTC) miner Aspen Creek Digital Corporation (ACDC) announced that it is first bitcoin mining center, a 6MW High-Performance Computing Center, commenced operations in Colorado, USA. ACDC has additionally added Universe Digital‘s mining business like a bitcoin mining hosting client.

Investments news

  • Clean computing infrastructure provider Crusoe Energy Systems announced it acquired Easter time-Owens, a producer of modular data centers and specialized electrical systems, to have an undisclosed amount.
  • Non-fungible token (NFT) startup Cryptoys elevated USD 23m inside a Series A funding round brought by a16z Crypto with the aim of creating a blockchain-based toy company that may expose more youthful users to NFTs, TechCrunch reported, citing Chief executive officer Will Weinraub.

NFTs news

  • Crypto platform is presenting Fractional NFTs service and blue-nick NFT crowdfunding features on its Gate NFT platform. Fractional NFTs allows NFT fragments to become offered, as the blue-nick NFT crowdfunding features will let users sign up for a crowdfunding event for a specific amount and get a fragment of the NFT proportional to that particular amount in exchange when the fundraise is effective.
  • Blockchain ecosystem Klaytn has partnered with NFT marketplace OpenSea to “invest within the Asian NFT ecosystem”. Their bond includes conference collaborations, ecosystem grants, and much more, they stated.

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