Crypto
Regulation
CFTC Chair Rostin Behnam tells Senate agency can handle greater crypto responsibilities
Behnam denied the suggestion that the CFTC would be "biting off... more than it can chew" if it gained additional crypto authority.
Stablecoins
Paxos cuts 20% of workforce amid strong financials due to ‘de-prioritizing adjacencies’
The stablecoin firm is lessening its focus on non-core offerings.
Legal
Terra community to own chain after TFL wind-down; Coinbase exec slams SEC settlement
Amani said that certain teams and developers want to takeover the network and will announce their intent on the governance forums.
Legal
US court issues final judgement against Terraform Labs, Do Kwon, imposes $4.5 billion in fines
The ruling finds the defendants guilty of multiple securities law violations and imposes stringent penalties and restrictions on their future activities.
Legal
Elon Musk drops lawsuit against OpenAI
Courts dismissed the case without prejudice, leaving Musk an option to refile the case at a later date.
ETF
ProShares files S-1 for spot Ethereum ETF, expands on BNY Mellon and Coinbase roles
The S-1 filing follows the SEC's approval of NYSE Arca's proposed rule change on behalf of ProShares.
ETF
Cboe exec says Solana ETFs unlikely without futures market or regulatory clarity
Rob Marrocco believes crypto ETFs beyond Bitcoin and Ethereum are unlikely without first establishing a futures market or changing regulation.
ETF
SEC accepts ProShares spot Ethereum ETF entry, approves Ark exit from 21 Shares ETF
All spot ETH ETFs have yet to launch despite recent developments.
Banking
World’s largest bank ICBC praises the evolution of Bitcoin, Ethereum as innovative financial assets
ICBC compared Bitcoin to gold and said Ethereum has established itself as "digital oil" capable of powering myriad applications across the web3 ecosystem.
AI
Apple announces AI for all with new Apple Intelligence, ChatGPT integration
The company will begin rolling out the features later year.
Mining
Bitcoin halving cuts production, sinks revenues for top miners
Stronghold Digital Mining reported a 47.1% decline in monthly Bitcoin mining output in May, attributing it to the post-halving.
ETF
Bloomberg analyst calls for FOIA request into SEC’s Ethereum ETF decision
Voting records are unclear and political motives are likely, James Seyffart says.