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📈 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 🔥

👉 SEC Files Lawsuit Against Coinbase’s Staking Service

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.

👉 Swift And Chainlink To Test Connection Of 12+ Institutions To Blockchains

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 Net Outflows Reach $778 On Ethereum Since SEC Lawsuit

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.

🥛 SUED! Binance vs the SEC 🥊

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.