🐸SEC Commissioner Hester Pierce proposes to create a "sandbox" for digital securities together with the UK

⏺This will allow fintech companies from the United States and the United Kingdom to test distributed ledger technologies (DLT) in real-world conditions.
⏺Regulators will be able to assess the adequacy of the legal and regulatory framework for digital assets.

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Franklin Templeton's Jenny Johnson on Bitcoin ETFs, RWA Tokenization, and Blockchain's Potential for TradFi

🐱AUSTIN, TX — Franklin Templeton, the $1.6 trillion asset manager based in Silicon Valley, is leading the charge among traditional finance giants entering the digital asset arena.

"We have looked at blockchain tech [and found] this is going to be transformational and we better make sure we understand it,"

said Jenny Johnson, president and CEO of Franklin Templeton, during a panel discussion at Consensus 2024 in Austin.

🔗 The company operates around 30 validator nodes on 12 different blockchains, including Ethereum (ETH), Cardano (ADA), Stellar (XLM), and Provenance. Johnson highlighted the importance of blockchain's efficiency in recording and reconciling transactions, which can lead to significant cost savings.

🧩 RWA Tokenization
Johnson explained that a major advantage of blockchain technology is its ability to offer a single
"source of truth," improving transaction accuracy and reducing administrative workload. This efficiency is crucial as the firm faces constant pressure to lower costs.

🟠 Bitcoin ETFs
Franklin Templeton is one of the 11 issuers approved to list spot-based bitcoin exchange-traded funds (ETFs) in the U.S. in January and is also seeking approval for a similar vehicle for ether.

"Many people are attracted to bitcoin (BTC) as an asset outside of the banking system that's resistant to government seizure, but ETFs offer a well-understood vehicle to get exposure,"

said Johnson.

"An ETF is a regulated entity, which makes a lot of people more comfortable who wouldn't have transacted in this space otherwise."

#FranklinTempleton #BitcoinETF #RWA #Tokenization #DigitalAssets

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👀 Are clickers definitely safe❓

#clickers
#meme

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Bankman-Fried Is Returned To New York Jail After Abortive Cross-Country Trip — WSJ

☄️ Sam Bankman-Fried has been returned to the Metropolitan Detention Center (MDC) in Brooklyn after a brief relocation across various states. This move follows a recommendation from a federal judge to allow the FTX founder to stay in New York while he works on his appeal.

🔒 A spokesperson for the Federal Bureau of Prisons confirmed Bankman-Fried's return to the MDC but provided no further details. The spokesperson for Bankman-Fried expressed gratitude for the swift resolution of the matter.

🏃‍♀️ Bankman-Fried, who faces a 25-year prison sentence for orchestrating one of the largest financial frauds in U.S. history, had been moved from the MDC last week. Although prison officials did not disclose his destination, reports suggested he might be sent to a prison in Mendota, California.

🏚️ The request to stay at the MDC surprised many due to the facility's poor conditions. The MDC, located in Brooklyn's Sunset Park neighborhood, has faced criticism for its treatment of inmates. In 2019, an electrical outage left inmates without heat during a harsh winter, and earlier this year, Judge Jesse Furman described the conditions at the MDC as
"dreadful in many respects."

#CryptoNews #FTX

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🟠Holdings Of Bitcoin Investors With At Least 10 BTC May Correlate To Price

💰 Overview:
Santiment points out the importance of tracking the total supply held by Bitcoin investors who possess at least 10 BTC in their wallets. At current exchange rates, this equates to around $683,000. These investors, often classified as sharks and whales, hold a significant amount of BTC and their behavior can greatly impact the market.

📊 Recent Trends:
According to a recent chart, holdings by these investors have been increasing, indicating an accumulation phase. Historically, accumulation by these key groups has been a bullish signal, whereas their selling typically heralds bear markets.

🪙Historical Patterns:

🔍 2019-2021:
The accumulation phase began in October 2019 and continued through the 2021 bull run.

📉 2022 Bear Market:
In February 2022, these investors started selling, leading to a bear market that persisted throughout the year.

📈 Post-FTX Crash:
After the FTX crash in November 2022, holdings stabilized and then began to rise again at the end of the year, coinciding with the imminent approval of the spot exchange-traded fund (ETF) in January.

Implications for the Future:

🚀Despite recent sideways movement in Bitcoin’s price, the continued accumulation by large holders suggests that more bullish price action could be on the horizon, if past trends are any indication.

Do you think tracking large Bitcoin holders is a reliable indicator for predicting market trends? React to this post and let us know your thoughts!

#Bitcoin #Crypto #Santiment #BTC #CryptoMarket

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💬 The market capitalization of TON sharply fell by billions of dollars following the update of data on the circulating supply.

❤️ TON has excluded coins belonging to Telegram, the TON Foundation, and the TON Believers Fund from the calculation. This led to an instantaneous reduction in market capitalization by more than $7 billion.

> The update was made to align the data with industry standards.

#TON

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🤭 The TRUMP token falls after the former U.S. president is found guilty in New York 📉

The jury found Trump guilty of falsifying business records and bribing porn actress Stormy Daniels, with whom he had an affair — CNN

Trump was found guilty on all 34 counts, CNN clarifies. Each count carries a prison sentence of up to four years.

Trump is the first U.S. president to be convicted in a criminal case. His specific sentence will be announced at a separate court session on July 11.

#TRUMP

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💰 The SEC has required issuers of spot Ethereum ETFs to file S-1 forms by Friday. BlackRock and VanEck have already submitted the necessary documents.

The filing of the forms will initiate the review process and the introduction of amendments.

Approval will require at least two rounds of document submission.

Approval of the S-1 form will greenlight the trading of Ethereum ETFs on the exchange.

#ETF

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😇 In the Ethereum Classic network, a branch of the Ethereum blockchain, the fourth halving occurred, reducing the reward for finding a block to 2.048 ETC.

This planned event happens approximately every two years, with a 20% reduction in the reward aimed at reaching a total emission of 210.7 million ETC. Since 2017, this is the fourth occurrence of such an event.

The price of ETC remained unchanged in reaction to this event, with a negative trend over the week (-6.4%). The project holds the 25th position in the market capitalization ranking according to CoinMarketCap, with a market capitalization of $4.3 billion.

#ETC

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🇺🇸 The U.S. Treasury Department criticized NFT because of its risks

Non-fungible tokens are at risk of fraud and facilitate the laundering of illicit funds, the US Treasury Department said in a report.

This is the first time the department has analyzed and evaluated the NFT sector. According to its report, such assets are often used to legalize illicit proceeds. Among the common schemes, the ministry singled out rug pull and fake sales.

The Finance Ministry recommended regulator s to work out rules specific to non-mutualizable tokens.

“The assessment shows that NFTs are susceptible to use in fraudulent schemes and are also susceptible to theft. To date, little evidence has been found of misuse of the tokens by terrorists, as opposed to scammers,” the U.S. Treasury Department said.

Most money laundering and illicit financing transactions are more likely to occur using fiat currency, but there are instances of fraud in the non-interchangeable token space.

“Criminals often attempt to quickly sell or exchange stolen or illegally obtained NFTs to avoid detection, conceal the source, or complicate the ability of trading platforms, blockchain analytics companies, and law enforcement to track the location of NFTs and any profits from illegal sales,” the ministry's experts explained.

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🇭🇰 The Hong Kong government announces support for the DeFi and Web3 sectors

🔹 The overall strategy includes significant investments in Fintech, Web3, and virtual assets.
🔹 The government recognizes the potential of DeFi to revolutionize traditional financial systems.

#DeFi
#Web3

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🟠 BTC can be used in Solana thanks to 21BTC

It is now possible to directly use native BTC on the Solana 🙂 network through the 21BTC service. All assets are 100% backed by real BTC, which are stored on a 1:1 basis with third-party custodians.

Deep liquidity is provided by Orca, the largest marketplace on the Solana network and an official partner of the project.

#BTC
#Solana

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💲 The accumulation of BTC whales is reminiscent of 2020

➖CEO of CryptoQuant Ki Yang Ju claims that the current whale activity is reminiscent of events in 2020.
➖We are seeing high blockchain activity and increasing #BTC accumulation by whales despite low price volatility.
➖In 2020, a similar accumulation phase led to the BTC price rising to $64,000 by April 2021.
➖A $1 billion a day is being added to new whale wallets, which could indicate a potential bullish trend.

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☝️ Top managers left Bybit following the Notcoin incident

Several top managers at the Bybit exchange resigned after the incident with Notcoin (NOT).

On May 16th, Bybit failed to process user deposits who received NOT tokens during an airdrop.

As a result, the platform had to manually credit funds to the accounts of 320,000 users.

Because of this, Bybit paid out $26 million in compensation.

#Bybit
#NOT

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👛 TON has confirmed a partnership with Hamster Kombat!

#TON

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📊 Tron, Bitcoin, Ethereum, and Litecoin top the list of cryptocurrencies with the highest number of active users.

Dogecoin is in fifth place in this regard.

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💵 $875 million worth of tokens will be unlocked in June

🛑The largest unlocks are Aptos ($102.6 million), Arbitrum ($105.6 million), Starknet ($78 million) and Sui ($66 million).
🛑In various sectors, the unlock will amount to more than $10 million for each, as the deadline for the transfer of tokens for more than 30 projects expires.

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🚬 The DMM Bitcoin cryptocurrency exchange was hacked, resulting in the theft of 4502.9 BTC valued at approximately $305 million.

The exchange has currently suspended all spot trading.

#scam

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🐶Shibarium Total Value Locked Hits 93.6 Billion SHIB: Details

🔗 Shibarium's Growth: Shibarium, the layer-2 scaling solution of the Shiba Inu ecosystem, has seen a significant increase in its Total Value Locked (TVL). The TVL surged from $2.15 million on May 21 to $2.42 million, marking a more than 12% growth. This rise reflects the increasing usage and confidence in Shibarium. At the beginning of January, the TVL was under $1 million, according to DeFiLlama.

💰 Current TVL: The current TVL of $2.42 million equals 93,653,250,774 SHIB locked in various protocols on the platform. The leading decentralized application (DApp) on Shibarium is Woofswap, which is the first Ve(3,3) decentralized exchange on the network, dominating with $1.68 million in TVL.

💥Top DApps on Shibarium:
Woofswap: $1.68 million
ChewySwap: $443,435
MARSWAP: $178,135
DogSwap: $56,232
PunkSwap: $37,264

🏆 Undervalued Potential: Shibarium is often considered an undervalued layer-2 solution compared to peers like Polygon, Arbitrum, and Optimism. However, the migration of ShibaSwap from the Ethereum mainnet to Shibarium could change this perception. ShibaSwap, the first DEX on Shiba Inu, has a TVL of $28.9 million, potentially boosting Shibarium's outlook significantly.

#ShibaInu #CryptoNews #Blockchain

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📊 The largest fundraising rounds conducted in May

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