TL;DR Breakdown Optimism network has completed its bedrock upgrade which will trigger some major improvements. The network teases future projects and collaborations. The Optimism network, a popular Ethereum Layer-2 solution, completed its highly anticipated “Bedrock” upgrade on June 7th. Developed by OP Labs, this upgrade brings a host of improvements aimed at creating a robust and scalable Web3 ecosystem based on Optimism’s OP Stack software. Optimism network promises major improvements One of the key highlights of the Bedrock upgrade is the implementation of several gas optimizations. Through extensive research and development, the Optimism team has managed to reduce data availability fees on Ethereum by 40%. This reduction in fees is directly passed on to users, resulting in lower gas fees when transacting on the Optimism network. Moreover, the upgrade introduces a crucial enhancement in the form of recognizing chain reorganizations (reorgs) on Ethereum. These reorgs are now reflected in the user’s Optimism balance, allowing for a significant reduction in deposit times. Previously, it took an average of 10 minutes for deposits from Ethereum to achieve finality on the Optimism network….

TL;DR Breakdown Russia’s Finance Minister, Anton Siluanov, discusses the country’s economic strategy amidst U.S. sanctions linked to the Ukraine conflict. Siluanov points to the U.S. dollar as the source of the country’s financial troubles, pushing the country to seek alternatives. Russia increasingly uses national currencies for bilateral settlements, particularly with China and Iran. Amidst the pulsating global economy, Russia’s Finance Minister Anton Siluanov shares insights into the steps taken to weather the perceived onslaught from the U.S. dollar. He gives an account of Russia’s strategy in maneuvering through the economic barriers set up due to the sanctions imposed by the U.S. government in response to the Russia-Ukraine conflict. Siluanov further lays emphasis on the critical role of national currencies for bolstering trade activities. The U.S. dollar conundrum The finance minister traces the roots of the current economic turbulence to a significant shift in the dynamics of the Russia-U.S. financial relationship. Rather than Russia being the provocateur, he contends that it was the U.S. dollar that set the wheel of contention rolling. As a result, the countryfound itself in a precarious…

TL;DR Breakdown SEC files lawsuits against Binance and Coinbase, sparking industry backlash. Professionals criticize the agency’s overreach and unclear regulations. The agency’s actions might push crypto firms towards more crypto-friendly jurisdictions. Turbulence has engulfed the crypto world, as the U.S. Securities and Exchange Commission (SEC) has taken the surprising action of launching lawsuits against Binance and Coinbase, two of the largest cryptocurrency exchanges globally. This sudden move has sparked widespread reaction from industry insiders, raising concerns about the impact these actions may have on crypto innovation in the United States. Industry Insiders React to SEC’s Actions On one hand, there is palpable frustration from industry professionals who are witnessing what they see as an overstep from the SEC. Kristin Smith, CEO of the Blockchain Association, described the agency’s approach as unacceptable, emphasizing that they do not make the law. She pointed out that these measures distract from substantive policy efforts as the industry and Congress work towards effective regulation. Smith expressed concern that the SEC is trying to circumvent formal processes and prevent public engagement by listing assets this way….

TL;DR Breakdown Binance Coin price analysis is bearish today. BNB/USD is valued at $258.2 at the time of writing. The strongest resistance is present at $330.5. Binance Coin price analysis shows bearish momentum with further consistent opportunities. According to market analysis, the prevailing trend in the BNB market indicates a strong presence of bearish sentiment, which is expected to persist in the near future. This suggests a potential for further devaluation of BNB in the coming days. The bears have gained a solid foothold and may soon exert a significant influence on the overall market conditions. Additionally, the price of BNB has witnessed a substantial decline, dropping from $306.2 to $272.5. As of today, on June 7, 2022, the price has experienced an additional crash, reaching $256.4, with a daily high of $260 and a current value of $258.1. As of today, June 7, 2023, the price of Binance Coin (BNB) stands at $259.30, accompanied by a 24-hour trading volume of $2.48 billion. Its market capitalization is valued at $40.41 billion, representing a market dominance of 3.63%. Over the past…

TL;DR Breakdown Liquity price analysis favours the bears. Support is rigidly standing at $1.02. LQTY is down by 4.7 per cent. The Liquity price analysis shows a bearish trend in the market. The price underwent a considerable decline and is now struggling at $1.03. The bears have a slight advantage over the bulls in this range which has made it difficult for the price to break out of it. Support, however, is rigidly standing at $1.02 – and moving beyond that could be seen as a bullish sign. Given its current situation, LQTY is down by 4.7 per cent in the past 24 hours. The market looks quite uncertain, and any immediate price movement might be difficult to predict.  LQTY/USD 1-day price chart: LQTY price follows a downward path to $1.03 The daily Liquity price analysis chart does not look good for the bulls. The price experienced a bearish slide, and it has been trying to break above $1.03 without any success. However, there is still support at $1.02 that might give the price some momentum to climb up again…

TL;DR Breakdown Pepe price analysis is bearish today. PEPE face strong resistance at $0.000001257. Support for PEPE/USD is located at $0.000001071. The most recent Pepe price analysis shows a decline in PEPE’s market position. The sharp decline in price has been caused by the recent selling pressure from the sellers. PEPE started today’s trading session with bulls ruling the market, but the sellers started to push the price lower as declines in volume were also noted. The current bearish momentum is likely to continue if PEPE fails to break above its resistance level. If it does not break above that level, we may see more downside pressure on PEPE in the near term. The support level at $0.000001071 could provide a good opportunity for buyers to enter the market if PEPE fails to break its resistance. PEPE is currently exchanging hands at $0.000001087, down by 7.49% in the past 24 hours. Over the last 7 days, PEPE has been down by 9.44% and holds a market capitalization of $426 million USD. The trading volume of PEPE in the last 24…

TL;DR Breakdown A handwritten letter by Terra co-founder Do Kwon surfaces, sparking a political firestorm in Montenegro. Allegations suggest undisclosed ties between Kwon and former Finance Minister Spajić, raising concerns about potential consequences for Montenegro. Prime Minister Abazović refutes Spajić’s denial, expressing doubts about the former minister’s integrity. In a shocking turn of events, a handwritten letter penned by Do Kwon, co-founder of the blockchain platform Terra, has emerged, stirring a political firestorm in Montenegro. The message, addressed to outgoing Prime Minister Dritan Abazović and outgoing Justice Minister Marko Kovac, alleges a previously undisclosed connection between Kwon and former Finance Minister Milojko Spajić, who also serves as the president of Europe Now political party. Prime Minister Abazović claims to have read Kwon’s letter and swiftly forwarded it to the Special State Prosecution Office. The letter proposes that Kwon had financed the Europe Now political party, leading to calls from political parties, NGOs, and the public to investigate these purported links between the Terra co-founder and Spajić. The gravity of the situation became apparent as Prime Minister Abazović expressed concern over…

TL;DR Breakdown Court filings reveal SEC’s 2020 investigation into Binance.US, indicating long-term scrutiny. SEC’s probe centers on alleged securities law violations and substantial profits by Binance.US. Lawsuit filed by the SEC targets Binance.US, its entities, and its CEO, seeking an asset freeze. Binance.US, the American arm of the global cryptocurrency exchange Binance, is under investigation by the U.S. Securities and Exchange Commission (SEC) for possible violations of federal securities laws. Court filings released on Tuesday revealed that the SEC has been scrutinizing Binance.US since 2020, with evidence pointing to hundreds of millions of dollars in illicit profits. In a lawsuit filed on Monday, the SEC accused Binance’s U.S. and global entities, as well as its CEO Changpeng “CZ” Zhao, of operating an unregistered securities exchange by facilitating the trading of cryptocurrencies. The regulatory body has subsequently sought to freeze Binance.US assets, intensifying the legal battle between the crypto exchange and the SEC. According to court filings, the SEC initiated an internal investigation and assigned officials to gather testimony starting on August 17, 2020. Colby Steele, a lawyer representing the SEC,…

TL;DR Breakdown Jack Dorsey, co-founder of Twitter and advocate of Bitcoin, ignites controversy by labeling Ethereum (ETH) as security. The comment triggers a Twitter debate among crypto industry members and raises questions about the classification of cryptocurrencies. Dorsey’s remark comes amidst ongoing regulatory actions by the SEC against cryptocurrency exchanges, further fueling discussions on crypto regulation and the treatment of specific cryptocurrencies as securities. Former Twitter CEO and Bitcoin advocate Jack Dorsey found himself embroiled in a Twitter battle with prominent figures in the crypto industry after labeling Ethereum (ETH) as a security. The controversy unfolded when Dorsey responded with a simple “yes” to a question about Ethereum’s security status. The remark drew the attention of Udi Wertheimer, a Bitcoin developer, who referred to Dorsey as a “clown” in a tweet. clowns. pic.twitter.com/S8AiJwuMem — Udi Wertheimer (@udiWertheimer) June 6, 2023 In response to the criticism, Dorsey challenged Wertheimer’s perspective, requesting further information. Also, the debate intensified as Wertheimer shared a five-year-old video featuring the United States Securities Exchange Commission (SEC) Chair Gary Gensler, stating that Ethereum was considered “sufficiently decentralized”…

TL;DR Breakdown Senators Cynthia Lummis and Bill Hagerty criticize the SEC for its lawsuit against Coinbase. They argue that the SEC’s “regulation by enforcement” approach lacks clarity and fails to provide a favorable regulatory environment for digital asset exchanges. Senator Hagerty accuses the SEC of weaponizing its role and criticizes its refusal to allow Coinbase to register despite approving its public listing. In a surprising turn of events, two prominent US senators have come forward to criticize the Securities and Exchange Commission (SEC) for its recent lawsuit against Coinbase, the largest American cryptocurrency exchange. The senators, Cynthia Lummis and Bill Hagerty argue that the SEC’s regulatory approach harms consumers and stifles innovation in the crypto industry. The SEC filed a lawsuit on June 6, accusing Coinbase of violating securities laws by operating as an unregistered broker, exchange, and clearing agency. The regulator also claimed that the exchange offered unregistered securities through its Staking Program, including tokens like Cardano (ADA) and Solana (SOL), without proper registration. However, Senator Lummis believes that the SEC’s “regulation by enforcement” approach is misguided and fails…