Milk Road has acquired Bitcoin Price! Milk Road is the #1 crypto newsletter that is free and will make you smarter about crypto! | | | | 📈 30 Second Cryptocurrency Price Summary | Current Bitcoin Price: $26,057 | Bitcoin price has surprisingly held strong around $26,000 since yesterday’s news, even with the addition of Coinbase being sued by the SEC. | Top-20 altcoins have not performed quite as strongly, as BNB falls another 2%, Cardano tumbles 4% but Ether remains unchanged over the last 24 hours. | Top Stories for June 6, 2022 🔥 | | The US Securities and Exchange Commission (SEC) has filed a lawsuit against Coinbase, with a focus on its staking service. | The SEC alleges that Coinbase's staking service qualifies as an investment contract, which should have been registered with the SEC but was not – therefore arguing that the tokens offered through the service are securities. | The complaint emphasizes the benefits provided by Coinbase's service and marketing language that suggests investment opportunities. | | Interbank system giant Swift and blockchain oracle provider Chainlink are collaborating with multiple financial institutions to test their connectivity with various blockchain networks. | The partnership involves major traditional financial institutions such as DTCC, ANZ, BNP Paribas, BNY Mellon, Citi, Clearstream, Euroclear, and Lloyds Banking Group. | The objective is to experiment with Swift's infrastructure for transferring tokenized assets across different blockchains. | | Binance has experienced significant outflows of funds on the Ethereum blockchain since the SEC’s lawsuit against the exchange yesterday, with negative net flows of over $778 million. | Ethereum-based tokens also saw negative netflows, with $14.8 million flowing in and $50.5 million flowing out in the past hour alone. Binance's reserve assets had a net outflow of approximately $1.4 billion, accounting for 2.6% of its total reserve assets. | While the outflows are substantial, they are smaller compared to previous incidents involving Binance. | | Today on Milk Road: The SEC just sued Binance/CZ, 5 BIG wallets got exploited, 2 ways BTC mining is sustainable, $200M of liquidations in one hour. |
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