Upcoming events this week: Binance JAPAN will open after June 23rd; Adidas will release tokenized sneakers with NFT integration.
Selected Events:
1. The U.S. House of Representatives will hold two SEC oversight hearings on June 22nd.
2. Adidas will release Token-controlled limited edition NFT sneakers with bindings.
3. Japanese media: Binance JAPAN is expected to open after June 23rd.
4. The Montenegrin court will make a ruling on the Do Kwon fake passport case on June 19th.
5. Brazil's new cryptocurrency regulations will take effect on June 20th.
6. Crypto.com will stop providing services to US institutional clients starting from June 21st, and the business for retail investors will not be affected.
June 19th
The Montenegrin court will make a ruling on the Do Kwon fake passport case on June 19th.
According to a report by Yonhap News Agency, in the case of the forgery of a passport by Do Kwon, co-founder of Terraform Labs, in the Montenegrin court, Do Kwon stated that he obtained a Costa Rican passport through a Singaporean agency recommended by a friend, and obtained a Belgian passport through another agency. Do Kwon said that his application for a Grenadian passport was rejected, but he was able to obtain the Costa Rican passport successfully.
Do Kwon said, "If I suspected it was a fake passport, I wouldn't have gone to many countries." The prosecutor stated, "This is not a passport issued by a legitimate organization. The name on the Belgian passport is different and the date of birth is also different. It is obvious that the passport was maliciously produced and we demand appropriate punishment for him." After the debate between the two sides, the judge announced that a verdict will be made on June 19 at 2 pm.
MakerDAO proposes to raise the DAI savings rate to 3.49%, expected to be implemented on June 19th.
MakerDAO community voted in favor of a governance proposal, which includes changes to the BlockTower RWA vault debt ceiling, adjustments to multiple risk parameters, an increase in DAI savings rate to 3.49%, and a reduction of USDP PSM debt ceiling to 0 DAI. These changes are expected to be implemented on June 19th at 22:00 Beijing time.
According to the report from "Chosun Ilbo", the Seoul Southern District Prosecutor's Office in South Korea will establish a "Virtual Asset Joint Investigation Team" to specifically investigate crimes related to virtual currency. The investigation team is currently responsible for financial crimes in the Seoul Southern District Prosecutor's Office. It is reported that the Korean prosecution will hold the first joint meeting with the country's Financial Services Commission, Financial Supervisory Service, Deposit Insurance Corporation and other institutions on June 19 to launch the issue of the virtual asset joint agency. The joint venture is expected to be launched in early July.
The decentralized perpetual contract protocol dYdX community voted in favor of the "Launch dYdX Operations Sub-DAO V2" proposal with a support rate of 99.95%. The proposal was made by the dYdX Operations Trust Fund (DOT) represented by trustees Joanna and Callen, requesting a transfer of $6.6 million from the dYdX community treasury to the DOT multi-signature wallet (0xa8541f948411b3F95d9e89e8D339a56A9ed3D00b) to provide funding for the operation of the sub-DAO for another 18 months (DOT 2.0). DOT currently has 87,077.50 USDC remaining, and after the expiration of DOT 1.0 on June 19th, the remaining funds will be transferred to DOT 2.0.
DOT 2.0 will be responsible for recruiting an operations director, a technical project manager, and a site reliability engineer, determining an indexer operator, deploying open source software and running iOS, Android, and web front-end versions for potential future versions of the protocol. They will also hire a third-party auditor to evaluate DOT's finances and performance, increase the number of DOT multi-signature trustees, and the remaining funds at the end of the DOT 2.0 mission will be sent to a community-controlled wallet as determined by the dYdX community. In addition, Reverie Reserves, LLC and George Beall have decided to step down as trustees and executors after the DOT 1.0 term expires on June 19. DOT appoints three new trustees and one executor.
DCG subsidiary Luno will stop providing services to Singapore users from June 20th
According to Techinasia, DCG subsidiary and cryptocurrency trading platform Luno will stop providing services to new Singapore users from June 20, 2023. Users need to withdraw all their cryptocurrencies or Singapore dollars from Luno before June 19. If users fail to withdraw their cryptocurrencies before June 19, these cryptocurrencies will be sold at the current market price and stored in Singapore dollars, and the existing 0.75% instant trading fee of Luno will apply to the sale.June 20th
Voyager submitted a plan to distribute cryptocurrency to creditors starting from June 20th.
According to Blockworks, the cryptocurrency lending platform Voyager has submitted documents to the court outlining its plan to reopen to customers from June 20 to July 5, allowing creditors to withdraw approximately 35% of their cryptocurrency. Voyager customers are expected to receive notifications of the application's reopening before June 20. In addition, bankruptcy trustee Paul R. Hage told creditors in the submitted documents that they will be able to view their estimated initial allocation amount through Voyager's application on Friday. "After submitting a withdrawal request on the Voyager platform, initial cryptocurrency will be allocated to creditors within three to seven calendar days."Binance margin and Binance Earn system upgrades postponed to June 20th
According to official sources, the Binance margin and Binance Earn system upgrade, originally scheduled for June 13th, 2023 at 14:00, will be postponed to June 20th, 2023 at 14:00. The upgrade is expected to take approximately 1 hour.Coinbase will complete the repurchase of $64.5 million convertible senior notes on June 20th.
Coinbase announced that it will repurchase $64.5 million of its 0.50% convertible senior notes due in 2026 at a discount of approximately 29%. The company estimates that it will spend approximately $45.5 million in cash to complete the repurchase, which is expected to be completed on or around June 20, 2023, subject to customary closing conditions. Following this repurchase, approximately $1.373 billion of the notes' principal will remain outstanding.
Sui Network will release Devnet v1.4.0 on June 20 and Testnet v1.4.0 on June 21.
According to official website news, Sui Network will update the release schedule of Sui Devnet, testnet and mainnet. According to the latest schedule, Sui will release mainnet v1.3.0 today (June 15). In addition, Sui will release Devnet v1.4.0 on June 20 and testnet v1.4.0 on June 21.Brazil's new cryptocurrency regulations will take effect on June 20th.
According to Brazilian encryption media Portal Do Bitcoin, the Brazilian cryptocurrency regulation law (Law No. 11,563) was published in the official gazette of the Brazilian Union today. The law was signed by Brazilian President Luis Inacio Lula da Silva, Brazilian Minister of Economy Fernando Haddad, and others. The law stipulates that the central bank will regulate encryption services, and has the right to issue market operation qualifications to any institution and supervise the operation of this department. In addition, in the case of defining virtual assets as securities, the Securities and Exchange Commission will be responsible for supervision. The law will take effect on June 20.
June 21st
According to Coindesk, cryptocurrency trading platform Crypto.com announced that it will no longer provide services to institutional clients in the United States starting from June 21. Institutional clients have received advance notice of the decision to suspend services. Crypto.com stated that due to the "current market situation", institutional clients have "limited demand". Retail investors will not be affected by this decision and can continue to use the platform in the United States.
Hotbit users need to withdraw their assets before 12:00 on June 21st.
The encrypted trading platform Hotbit announced in a post that it has stopped all CEX operations as of 12:00 today and hopes that all users will withdraw their remaining assets before 12:00 on June 21. BlockBeats previously reported that on August 10, 2022, the encrypted trading platform Hotbit announced the suspension of deposit and withdrawal as well as trading functions, and the specific recovery time is currently unknown. The reason is that in April of this year, former Hotbit management personnel participated in a certain project, and law enforcement agencies now believe that the project may have violated criminal law. Since the end of July, several senior Hotbit management personnel have been summoned by law enforcement agencies and are assisting in the investigation. In addition, law enforcement agencies have frozen some of Hotbit's funds, causing Hotbit to be unable to operate normally.
June 22nd
The US House of Representatives will hold two SEC oversight hearings on June 22.
The Chairman of the House Financial Services Committee, Patrick McHenry, announced two hearings related to the oversight of the SEC. The Oversight and Investigations Subcommittee will hold a hearing on "Oversight of the SEC" on June 22 at 9:00 am local time, while the Capital Markets Subcommittee will hold a hearing on "Oversight of the SEC's Trading and Markets Division" on June 22 at 10:30 am local time.
Binance will delist FARM/BUSD, LSK/BUSD and other isolated margin trading pairs on June 22
According to the announcement from Binance, Binance Leveraged Tokens will delist the isolated margin trading pairs of FARM/BUSD, LSK/BUSD, MBL/BUSD, PLA/BUSD, PUNDIX/BUSD, as well as the cross margin trading pairs of MBL/BUSD and PUNDIX/BUSD at 14:00 on June 22.Adidas will launch Token-controlled sneakers with limited edition NFT bindings
Adidas announced a partnership with artist "FEWOCiOUS" for adidas Originals, and the two will collaborate to launch a limited edition Trefoil Flower Mint Pass NFT. The NFT will go live on June 22, and holders will have the opportunity to exchange for physical adidas Originals sneakers. This is also Adidas' first release of a limited edition NFT with an NFC-tagged token-controlled sneaker.
FEWOCiOUS x FewoWorld: Paint NFT holders and ALTS holders of adidas' 'Decos' and 'Soles' [ALT]er Ego NFTs will receive a range of benefits, including discounted prices and early access to NFTs on the OpenSea platform.
Lido will automatically release all staked assets on June 22nd
Lido developer MixBytes will stop the staking service of Lido on Polkadot and Kusama on August 1. MixBytes stated that the reason for the cessation is due to macro factors affecting the liquidity of the Polkadot ecosystem. Lido has terminated staking on Polkadot and Kusama and will automatically release all staked assets on June 22, with the official termination date being August 1.
June 23rd
Japanese media: Binance JAPAN is expected to open after June 23
According to the Japanese encryption media Coinpost, Sakura Exchange Bitcoin Co., Ltd. (SEBC), a Japanese cryptocurrency trading platform under Binance, announced on the 28th that "Binance JAPAN (tentative name)" is scheduled to officially open after June 23. Detailed information, including the start time, will be announced later. In addition, personal information provided when registering a SEBC account will not be transferred and KYC will need to be re-performed. The brokerage services currently provided by SEBC for domestic exchanges in Japan will end on May 31, 2011.
BlockBeats previously reported that Binance announced the acquisition of 100% equity of Sakura Exchange BitCoin (SEBC), a Japanese cryptocurrency trading platform, in November 2022. With this acquisition, Binance enters the Japanese market and becomes an entity regulated by the Japanese Financial Services Agency (JFSA). The terms of the transaction have not been disclosed.
Axie Infinity: Ronin Bridge will launch from June 23 to 28, followed by land staking
Axie Infinity officials have stated that the Ronin Bridge is expected to launch from June 23rd to 28th, and plans to launch Land Staking after deploying the Ronin Bridge. The Land Staking system is currently being tested and optimized on the testnet.
DASH block rewards are expected to be reduced on June 23rd
According to Tokenview data, there are 8 days left until the DASH halving in 2023. The halving is expected to occur on June 23rd, when the block reward will be reduced from 2.76371046 DASH to 2.56630257 DASH.
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