Weekly Top Crypto News (May 29 – June 4)
It’s been an unremarkable start to the week of June, with the crypto market being very quiet. Yet, the crypto community is looking forward to June, when the terrible news regarding the crypto market and the US public debt problem will be forgotten. Here, let’s review this week’s top crypto news with Coincu!
Binance Lays Off 20% Of Its Workforce Amid Expansion Restrictions
Binance, the world’s biggest cryptocurrency exchange, has begun layoffs as part of a quarterly assessment of important roles. While the actual amount is unknown, the exchange is apparently planning to lay off roughly 20% of its personnel in June. The reduction might be connected to the recent closure of operations in Canada as well as partners in other regions.
Tether Hit A New Market Capitalization Record, Leading $83.2 Billion
Tether (USDT) has officially reached the $83.2 billion market capitalization threshold, accounting for approximately 66% of the overall stablecoin market share. The upcoming stablecoin fight will focus not just on how to enhance profits and attract cash flow but also on how to mitigate risks and reduce the effect of traditional finance.
Multichain Admits Lost Contact With CEO
Cross-chain project Multichain announced that it still does not know the situation of CEO Zhaojun, who has been rumored to be arrested by Chinese authorities. The project will still not be able to work with certain blockchains.
Ordinals Market And Bitcoin Miladys Launched New Standard BRC-721E
Ordinals Market and Bitcoin Miladys jointly developed the BRC-721E standard, which allows ERC-721 NFTs to be transferred to Ordinals without embedding the complete NFT series first. Before deleting the ETH NFT, Teleburn needed the inscription ID. Moreover, indexers capture data from both chains, giving comprehensive, dynamic information about Bitcoin at a very cheap fee.
Elon Musk Faces New Lawsuit Alleging Dogecoin Manipulation
Elon Musk is facing a new class-action lawsuit filed by US investors, alleging insider trading and price manipulation of Dogecoin (DOGE). The lawsuit claims that Musk’s promotional actions, including social media mentions and television appearances, artificially inflated the price of Dogecoin, causing substantial financial losses to investors. The plaintiffs are seeking $258 billion in damages.
MakerDAO Approves Vault To Invest Up To $1.28 Billion In US Treasuries
MakerDAO backs a proposal to buy US Treasuries worth $1.28 billion. Maker is set to exchange 1.28 billion DAI stablecoins for short-term US Treasuries with maturities ranging from 0-6 months. The proposal comes after Maker approved a proposal to increase holdings of the US Treasury bond portfolio by 150%, from $500 million to $1.25 billion.
Rocket Pool To Launch On zkSync Era To Take Advantage Of ZK
Rocket Pool, an Ethereum staking service, has been installed on the zkSync Era network. Rocket Pool users may transfer their token rETH quicker and cheaply by using the zkSync Era, resulting in a more user-friendly experience in DeFi apps.
Nike Teams Up With EA Sports To Drive Web3 Business
Nike and EA Sports are collaborating to bring .SWOOSH platform digital creations to the EA Sports gaming environment. The new cooperation aims to deliver immersive experiences while enabling customers to personalize inside the EA Sports universe.
Nansen Cuts 30% Of Staff Due To Difficult Market Context
Alex Svanevik, CEO of the blockchain data platform Nansen, announced a 30% reduction in his company’s employment. He added that his company has expanded outside its original area of concentration, which, along with the impacts of the “crypto winter,” is the key reason for the decision. Notwithstanding the reductions, the corporation still has many years to create a viable operation.
MoonPay CEO Collected $150 Million During Bitcoin’s Golden Age
In 2021, MoonPay raised $555 million in an all-equity Series A financing. The funds will be used to recruit more employees, increase geographical coverage, and introduce new payment options. Yet, the CEO of the company apparently used part of his wealth to buy a $38 million house in Florida.
Worldcoin Is Creating Excitement From Crypto Community
Several crypto community investors and members have shown interest in Worldcoin’s major features, which include retinal scanning equipment and token issuance. The initiative aims to revolutionize cryptocurrency distribution and usage by providing a universal universal basic income. Skepticism exists about both the project’s technology and its ethics.
Atomic Wallet Detected An Attack
Atomic Wallet team has received reports of wallets being compromised. They are investing and analyzing the situation. Atomic Wallet will help users simplify managing, synchronizing, and using assets, but this can easily lead to being compromised.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Harold
Coincu News
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Weekly Top Crypto News (May 29 – June 4)
It’s been an unremarkable start to the week of June, with the crypto market being very quiet. Yet, the crypto community is looking forward to June, when the terrible news regarding the crypto market and the US public debt problem will be forgotten. Here, let’s review this week’s top crypto news with Coincu!
Binance Lays Off 20% Of Its Workforce Amid Expansion Restrictions
Binance, the world’s biggest cryptocurrency exchange, has begun layoffs as part of a quarterly assessment of important roles. While the actual amount is unknown, the exchange is apparently planning to lay off roughly 20% of its personnel in June. The reduction might be connected to the recent closure of operations in Canada as well as partners in other regions.
Tether Hit A New Market Capitalization Record, Leading $83.2 Billion
Tether (USDT) has officially reached the $83.2 billion market capitalization threshold, accounting for approximately 66% of the overall stablecoin market share. The upcoming stablecoin fight will focus not just on how to enhance profits and attract cash flow but also on how to mitigate risks and reduce the effect of traditional finance.
Multichain Admits Lost Contact With CEO
Cross-chain project Multichain announced that it still does not know the situation of CEO Zhaojun, who has been rumored to be arrested by Chinese authorities. The project will still not be able to work with certain blockchains.
Ordinals Market And Bitcoin Miladys Launched New Standard BRC-721E
Ordinals Market and Bitcoin Miladys jointly developed the BRC-721E standard, which allows ERC-721 NFTs to be transferred to Ordinals without embedding the complete NFT series first. Before deleting the ETH NFT, Teleburn needed the inscription ID. Moreover, indexers capture data from both chains, giving comprehensive, dynamic information about Bitcoin at a very cheap fee.
Elon Musk Faces New Lawsuit Alleging Dogecoin Manipulation
Elon Musk is facing a new class-action lawsuit filed by US investors, alleging insider trading and price manipulation of Dogecoin (DOGE). The lawsuit claims that Musk’s promotional actions, including social media mentions and television appearances, artificially inflated the price of Dogecoin, causing substantial financial losses to investors. The plaintiffs are seeking $258 billion in damages.
MakerDAO Approves Vault To Invest Up To $1.28 Billion In US Treasuries
MakerDAO backs a proposal to buy US Treasuries worth $1.28 billion. Maker is set to exchange 1.28 billion DAI stablecoins for short-term US Treasuries with maturities ranging from 0-6 months. The proposal comes after Maker approved a proposal to increase holdings of the US Treasury bond portfolio by 150%, from $500 million to $1.25 billion.
Rocket Pool To Launch On zkSync Era To Take Advantage Of ZK
Rocket Pool, an Ethereum staking service, has been installed on the zkSync Era network. Rocket Pool users may transfer their token rETH quicker and cheaply by using the zkSync Era, resulting in a more user-friendly experience in DeFi apps.
Nike Teams Up With EA Sports To Drive Web3 Business
Nike and EA Sports are collaborating to bring .SWOOSH platform digital creations to the EA Sports gaming environment. The new cooperation aims to deliver immersive experiences while enabling customers to personalize inside the EA Sports universe.
Nansen Cuts 30% Of Staff Due To Difficult Market Context
Alex Svanevik, CEO of the blockchain data platform Nansen, announced a 30% reduction in his company’s employment. He added that his company has expanded outside its original area of concentration, which, along with the impacts of the “crypto winter,” is the key reason for the decision. Notwithstanding the reductions, the corporation still has many years to create a viable operation.
MoonPay CEO Collected $150 Million During Bitcoin’s Golden Age
In 2021, MoonPay raised $555 million in an all-equity Series A financing. The funds will be used to recruit more employees, increase geographical coverage, and introduce new payment options. Yet, the CEO of the company apparently used part of his wealth to buy a $38 million house in Florida.
Worldcoin Is Creating Excitement From Crypto Community
Several crypto community investors and members have shown interest in Worldcoin’s major features, which include retinal scanning equipment and token issuance. The initiative aims to revolutionize cryptocurrency distribution and usage by providing a universal universal basic income. Skepticism exists about both the project’s technology and its ethics.
Atomic Wallet Detected An Attack
Atomic Wallet team has received reports of wallets being compromised. They are investing and analyzing the situation. Atomic Wallet will help users simplify managing, synchronizing, and using assets, but this can easily lead to being compromised.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Harold
Coincu News
Read More
USD1 Meme Coins Take Over BNB Chain as CapitainBNB, TUT, and CA Drive Frenzy