Best Twitter threads of the day – June 2nd

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  TL;DR Breakdown United States District Judge Amy Berman Jackson has instructed the SEC and Binance.US to negotiate a compromise to prevent a total asset freeze. Judge Jackson emphasized the potential consequences of a complete shutdown and expressed optimism about reaching an agreement. In a bid to prevent a potential asset freeze that could have far-reaching consequences for both Binance.US and the digital asset markets, United States District Judge Amy Berman Jackson has ordered the cryptocurrency exchange and the United States Securities and Exchange Commission (SEC) to engage in negotiations. This development follows the SEC’s emergency motion for a temporary restraining order against Binance.US, accusing its CEO, Changpeng “CZ” Zhao, of accessing customer funds.  As the two parties work towards a compromise, Judge Jackson’s involvement offers hope for a resolution that safeguards customer assets while allowing the exchange to continue its operations. With an update on the negotiations scheduled, the outcome of these discussions carries significant implications for the future of Binance.US and the wider crypto industry. Contents hide 1 U.S District Judge Facilitates Negotiations for Compromise Agreement 2 Progress toward…

  Article 2023年6月17日

• UK dismisses lawmaker’s description of crypto as gambling

  TL;DR Breakdown CryptoUK and Kraken have expressed strong opposition to a UK parliamentary report that suggested regulating cryptocurrencies similarly to gambling due to significant consumer risks. The House of Commons Treasury Committee’s recommendations stem from concerns around price volatility and the perceived lack of intrinsic value in cryptocurrencies. CryptoUK argued that such an approach fails to consider the unique nature of the crypto sector and its potential for economic growth in the UK, possibly creating a hostile environment for crypto businesses. In a rebuttal to a recent British parliamentary report equating cryptocurrency to gambling, both CryptoUK, a self-regulatory organization, and crypto exchange platform Kraken have issued strong responses. The crypto industry stakeholders argue against the lawmakers’ recommendation, marking a fascinating chapter in the ongoing crypto debate in the United Kingdom. UK lawmakers’ concerns and recommendations A House of Commons Treasury Committee report, dated May 17, suggested treating unbacked cryptocurrencies akin to gambling, due to significant consumer risks tied to such assets. The lawmakers’ concerns stemmed from factors like price volatility and a perceived lack of intrinsic value in cryptocurrencies. The…

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• Ibex Mercado Partners with Grupo Salinas to Accelerate Bitcoin Lightning Adoption

  TL;DR Breakdown Ibex Mercado and Grupo Salinas join forces to promote Bitcoin Lightning adoption in Latin America, enabling faster and more cost-effective transactions. The partnership aims to foster financial inclusion and drive economic growth by leveraging the benefits of the Lightning Network in the region. In a groundbreaking development for the Bitcoin Lightning Network, Ibex Mercado, a leading Bitcoin Lightning service provider, has announced a strategic partnership with Grupo Salinas. This partnership aims to promote the adoption of the Bitcoin Lightning Network in Latin America, offering businesses and consumers faster, cheaper, and more scalable Bitcoin transactions.  The collaboration between Ibex Mercado and Grupo Salinas holds the potential to revolutionize the use of Bitcoin in the region and drive the mainstream adoption of this cutting-edge payment technology. Let’s delve into the details of this exciting partnership and its implications for the Bitcoin Lightning ecosystem. Ibex Mercado and Grupo Salinas Unite to Empower Bitcoin Lightning Adoption in Latin America The partnership between Ibex Mercado and Grupo Salinas is set to make a significant impact on the adoption of the Bitcoin Lightning Network…

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• Crypto market braces for weekend volatility with $5B BTC options set to expire

  TL;DR Breakdown Crypto markets head into the weekend on negative sentiment, with Bitcoin struggling to maintain the price above $30K. Almost $5 billion worth of Bitcoin options are scheduled to expire today, marking the largest mass expiration in months and posing a risk of market volatility. Ethereum options worth around $2.3 billion are also set to expire on June 30. Description Historically, the crypto markets have suffered from weekend volatility. This weekend is no exception. A massive amount of Bitcoin options are slated to expire today, according to crypto market analysts, marking the largest bulk expiry in months. Derivatives trading fever has recently risen in response to many ETF registrations, but will speculators get burned? Crypto … Read more Historically, the crypto markets have suffered from weekend volatility. This weekend is no exception. A massive amount of Bitcoin options are slated to expire today, according to crypto market analysts, marking the largest bulk expiry in months. Derivatives trading fever has recently risen in response to many ETF registrations, but will speculators get burned? Crypto markets head into the weekend on…

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• France vs. UK: Fintech crown up for grabs in epic clash

  TL;DR Breakdown The fintech landscape in Europe is rapidly evolving, with France increasingly challenging the UK’s dominance, driven by entrepreneurs like Jordane Giuly, co-founder of Spendesk and Defacto. The Brexit-triggered upheaval has favored Paris in its quest to rival traditionally dominant fintech hubs such as London and Berlin, making it a more attractive market with its 450 million consumers. Station F, dubbed as Paris’s answer to Silicon Valley, has emerged as a bustling entrepreneurial hub, providing support to numerous startups and attracting sizable investment. As the fintech landscape morphs and mutates, France is stepping out of the UK’s shadow, flexing its entrepreneurial muscles, and priming itself for a tussle for the top spot. A new dawn in France Jordane Giuly, a pioneer in France’s fintech space, has witnessed this seismic shift firsthand. A decade ago, banking was the trendy career path for his cohorts. However, Giuly swam against the current, co-founding Spendesk, a billion-dollar expense management platform, and later, Defacto, a credit infrastructure firm. The ethos at Defacto encapsulates the growing ambition amongst French startups: to be European from inception….

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