Analysis
Legal
SBF trial locked in for October after court rejects pre-trial motion to dismiss
The court said that after hearing all of the arguments related to the pre-trial motions, it has determined that they are "either moot or without merit."
Crime
Chibi Finance becomes 12th Arbitrum-based protocol to rug users in 2023
The project's native token — CHIBI — has crashed almost 99% in value as of press time
Politics
Democrat lawmaker requests SEC, Treasury feedback over Republican-led crypto bill
Congresswoman Maxine Waters issued the letters addressed to Treasury Secretary Janet Yellen and SEC chair Gary Gensler on June 26, they pertain to the Digital Asset Market Structure Discussion Draft.
Regulation
Singapore regulator backs private networks over public in framework for digital assets
Project Guardian's "foundational principle" is to establish "open and interoperable private networks" that enable tokenized asset exchange via DeFi protocols.
Regulation
Senator Cynthia Lummis criticizes SEC’s action against Coinbase, says lawmakers are working on crypto regulation bill
The Wyoming Senator said she is "scratching her head" over the SEC's enforcement action against Coinbase.
Legal
Supreme court rules in favor of Coinbase, issues order to move user lawsuit into arbitration
The dispute at the center of the case involved a Coinbase user who filed a lawsuit against the company, alleging that the exchange had wrongfully closed his account and refused to return his funds.
NFTs
German intelligence agency is using NFTs to attract cybersecurity talent
People who wish to mint an NFT in the collection have to participate in the treasure hunt and find a string of characters hidden by the BND.
Stablecoins
Powell says stablecoins are a ‘form of money’ that central banks should supervise
Powell said the "ultimate source of credibility in money is the central bank" and the Fed should have a "robust federal role" in determining the future of any form of money, including stablecoins.
CBDCs
BIS says crypto is a ‘flawed system’ but tokenization could underpin future financial system
According to the BIS, crypto inherently lacks the trust that money needs — which only central banks can provide.
DeFi
Uniswap founder calls US’ approach to regulating crypto ‘sad and unfortunate’
Hayden Adams said that many countries in the world are taking steps to "study DeFi and understand it" but the U.S. is mostly using it for "political grandstanding, unfortunately."
CBDCs
IMF wants to create a global CBDC platform to compete with threat of crypto
The IMF believes central banks need to create a global CBDC system to combat the threat of cryptocurrencies.
Adoption
JP Morgan analysts believe Hinman documents will spur altcoins to mimic Ethereum
The lender believes altcoins will be forced to mimic Ethereum and its properties, which will likely amplify competition among them.