June 15, 2023:
Bitcoin (BTC) and Ethereum (ETH) prices remain volatile after the Federal Reserve announced that it would pause rate hikes for June.
Aave proposes to freeze the loans of alleged Curve founder Michael Egorov.
French financial markets ombudsman reports a jump in crypto-related mediations.
Coinbase CLO says it is “impossible” to require decentralized exchanges (DEXes) to register with the Securities and Exchange Commission (SEC).
Cryptocurrency adoption continues to grow, with major companies like PayPal and Mastercard expanding their crypto offerings.
The crypto industry is facing a number of challenges, including regulatory uncertainty, security breaches, and high volatility.
Bitcoin and Ethereum Prices Remain Volatile
The price of Bitcoin (BTC) and Ethereum (ETH) remained volatile on June 15, 2023, after the Federal Reserve announced that it would pause rate hikes for June.
BTC traded in a range of $25,791 to $26,300, while ETH traded in a range of $1,460 to $1,520.
The Fed’s decision to pause rate hikes was widely expected by investors, but it did not provide much relief to the crypto market.
The market is still facing a number of headwinds, including rising inflation, a potential recession, and the ongoing war in Ukraine.
Aave Proposes to Freeze the Loans of Alleged Curve Founder Michael Egorov
The decentralized lending protocol Aave has proposed to freeze the loans of alleged Curve founder Michael Egorov.
The proposal was made after Egorov was accused of using Aave’s platform to manipulate the price of Curve’s native token, CRV.
The proposal is still under consideration by the Aave community.
French Financial Markets Ombudsman Reports Jump in Crypto-Related Mediations
The French financial markets ombudsman has reported a jump in crypto-related mediations in recent months.
The ombudsman, Jean-Marc Sauvé, said that the number of mediations involving crypto has increased by 50% in the past year.
Sauvé said that the increase in mediations is a sign that the crypto market is becoming more mainstream.
Coinbase CLO Says It is “Impossible” to Require DEXes to Register with the SEC
The chief legal officer (CLO) of Coinbase, Paul Grewal, has said that it is “impossible” to require decentralized exchanges (DEXes) to register with the Securities and Exchange Commission (SEC).
Grewal said that DEXes are decentralized and do not have a central authority that can be held accountable for complying with SEC regulations.
Grewal’s comments come as the SEC is considering whether to regulate DEXes.
Cryptocurrency Adoption Continues to Grow
The adoption of cryptocurrency continues to grow, with major companies like PayPal and Mastercard expanding their crypto offerings.
PayPal announced in March that it would allow its users to buy, sell, and hold cryptocurrencies.
Mastercard announced in May that it would allow its partners to offer cryptocurrency payments.
The growing adoption of cryptocurrency is a sign that the industry is maturing.
Crypto Industry Facing Challenges
The crypto industry is facing a number of challenges, including regulatory uncertainty, security breaches, and high volatility.
Regulatory uncertainty is a major challenge for the crypto industry.
The SEC has yet to provide clear guidance on how it will regulate cryptocurrencies.
Security breaches are another major challenge for the crypto industry.
In the past year, there have been a number of high-profile security breaches involving cryptocurrency exchanges and wallets.
High volatility is another challenge for the crypto industry.
The price of cryptocurrencies is highly volatile, which can make it difficult for investors to make informed decisions.
Despite these challenges, the crypto industry is growing rapidly.
The industry is expected to continue to grow in the years to come.
