Best Twitter threads of the day – June 2nd

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  TL;DR Breakdown Binance.US hires former SEC enforcement official George Canellos to strengthen its legal defense against allegations of operating as an unregistered securities exchange. The company vehemently denies the allegations, criticizes the SEC’s aggressive tactics, and suspends U.S. dollar deposits due to the regulatory actions’ potential impact on its business. Binance.US, a United States-based cryptocurrency exchange, has made a strategic move to bolster its legal defense amid ongoing allegations of operating as an unregistered securities exchange. The company has reportedly hired George Canellos, a former enforcement co-director of the U.S. Securities and Exchange Commission (SEC), to join its legal team. Canellos, currently affiliated with the international law firm Milbank LLP, brings extensive experience and expertise in securities enforcement. This development comes as Binance.US faces legal challenges and strives to protect its assets from potential freezing. Binance.US Responds to Allegations and SEC Lawsuit In a recent court filing responding to the lawsuit initiated by the SEC, Binance.US vehemently denied allegations of failing to register as an exchange, broker, and clearing agency. The SEC had raised similar claims against Binance’s global exchange…

  Article 2023年6月16日

• What is WorldCoin, and where can you WDC?

  TL;DR Breakdown WorldCoin’s worldwide payment protocol plans to change how people send, receive, and store digital assets, stablecoins, and conventional currencies. WorldCoin is an open-source protocol or system designed to make the global economy more accessible. The protocol runs on 2 frontiers: The WorldCoin Foundation and Tools for Humanity. WorldCoin (WDC), an open-source protocol aiming to build a more egalitarian global economy, has revealed a ground-breaking payment mechanism. The protocol aims to increase the accessibility and security of financial transactions for people worldwide. The WorldCoin Foundation and Tools back it for Humanity. WorldCoin intends to transform how individuals transfer, receive, and hold digital assets, stablecoins, and conventional currencies by releasing their ground-breaking global payment protocol. Contents hide 1 WorldCoin explained – What is it? 2 The organizations behind WorldCoin 3 Step by step on how to buy WDC 3.1 Choose an exchange 3.2 Choose your method of payment 3.3 3. Safe storage 4 Frequently Asked Question WorldCoin explained – What is it? WorldCoin is an open-source protocol or system designed to make the global economy more accessible. It is intended…

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• Major U.S. banks lose $262 billion in deposits; Heartland Tri-State Bank collapses

  TL;DR Breakdown Major U.S. banks lost $262 billion in deposits in a year; regional banks gained customers. Heartland Tri-State Bank collapsed on July 28th; assets transferred to Dream First Bank, N.A. Despite deposit loss, major banks like JPMorgan still report substantial profits. Description The U.S. banking industry is experiencing a significant transformation as major banks lose customer deposits while smaller regional banks gain traction. The Federal Deposit Insurance Corporation (FDIC) recently announced the failure of Heartland Tri-State Bank of Elkhart, Kansas, on July 28, with all customer deposits transferred to Dream First Bank, National Association (N.A.), also based … Read more The U.S. banking industry is experiencing a significant transformation as major banks lose customer deposits while smaller regional banks gain traction. The Federal Deposit Insurance Corporation (FDIC) recently announced the failure of Heartland Tri-State Bank of Elkhart, Kansas, on July 28, with all customer deposits transferred to Dream First Bank, National Association (N.A.), also based in Kansas. Major banks witness sharp decline in deposits The four largest banks in the U.S., namely JPMorgan Chase, Bank of America, Citigroup, and…

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• What the revised GDP numbers tell us about the U.S. economy

  TL;DR Breakdown U.S. GDP grew at a 2% annual rate from January to March, showing resilience against higher interest rates. This revised figure by the Commerce Department indicates a stronger Q1 growth than the previously estimated 1.3%. Consumer spending, which represents about 70% of the economy, rose at a 4.2% annual rate in the first quarter. Description Withstanding the test of elevated interest rates, the U.S. economy demonstrated its mettle, registering a 2% annual growth rate from January through March. This growth narrative, supported by the most vigorous consumer spending witnessed in nearly two years, contributes a new chapter to the American economic story. Decoding the upgraded growth estimate of U.S. economy … Read more Withstanding the test of elevated interest rates, the U.S. economy demonstrated its mettle, registering a 2% annual growth rate from January through March. This growth narrative, supported by the most vigorous consumer spending witnessed in nearly two years, contributes a new chapter to the American economic story. Decoding the upgraded growth estimate of U.S. economy The latest figures from the Commerce Department provide an optimistic…

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• Energizing the future: Red Bull and Mysten Labs’ Sui Network strategic partnership

  TL;DR Breakdown Sui Ledgers and Oracle Red Bull Racing have entered into a multiyear partnership. Sui becomes the Formula 1 racing team’s designated blockchain partner. Mysten Labs and Red Bull Racing will collaborate to enhance Sui to increase global audience engagement. Sui Blockchain, a renowned blockchain company, recently made waves with its revolutionary multiyear contract with Formula 1’s Red Bull Racing. This alliance highlights blockchain technology’s potential to transform motorsports. Sui Blockchain and Red Bull Racing want to use blockchain technology to boost operational efficiency, optimize operations, and improve data management. Using decentralized ledger technology, the team can secure, transparent, and immutably store crucial data. SUI and Red Bull make a public partnership declaration Recent developments include the Red Bull Formula One Racing team announcing they will partner with Mysten Labs’ Sui Network for some years. This comes just under a month after Sui Network made the mainnet of its blockchain available for public use. Sui Network announced on June 1 that it would become the official blockchain partner for the Red Bull racing team. The Red Bull racing team…

  Article 2023年6月7日