Bitcoin still remains sideways and as of time of writing, price is hovering near resistance around 9,800. In the daily, resistance is still around 10,000 and immediate support is at 9,200. A price breakout is still not out of the picture as there are no signs of weakness yet, while a breakdown below 9,200 is a possible invalidation of this scenario.
Global market cap is at $266B, while BTC's market cap is at $179B.
BitMEX, one of the world's largest crypto derivatives exchanges, and its executives have been accused of engaging in or abetting multiple crimes including racketeering, money laundering, wire fraud, and operating an unlicensed money transmitting business. The lawsuit was filed by BMA LLC in the United States District Court for the Northern District of California on May 16. BMA LLC claims that BitMEX processed an average of $3 billion in money transfers daily without being licensed as a money transmission business in the US. They also claim that the exchange enables money launderers and manipulators to operate illicitly, and that BitMEX runs a for-profit trading desk that trades against its own customers using inside information.
The full details of the extensive allegations run over 100 pages.
Thesis, a Blockchain venture studio, has paused deposits into its tBTC platform due to a bug. The Thesis team did not disclose full details of the incident yet and said that it will not be exposed until all funds are drained. Early users of the platform are now being guided by the company in withdrawing their BTC out of the platform. Thesis CEO Matt Luongo said that while the tBTC dapp platform was being tested over the weekend, two of their contributors pointed out an issue that was missed by their team's security audit which led to the decision of putting deposits on hold to ensure safety of funds.
A new audit of the platform is being conducted by Trail by Bits. tBTC is a new platform that is designed to put BTC on Ethereum so BTC can be used in decentralized finance (DeFi).
Raiffeisen Bank International (RBI), a major Austrian bank, is extending its collaboration with Polish-British fintech firm Billon and working on a new form of national currency tokenization using blockchain technology. RBI and Billon are in the initial stages of an RBI tokenization platform dubbed RBI Coin, which is designed to speed up cross-border interbank or intercompany transactions and improve liquidity management. The pilot project is expected to launch in Central and Eastern European (CEE) countries including Belarus, Czech Republic, Poland, Russia, and Ukraine, among others. Depending on the countries joining the pilot, RBI Coin would be pegged 1:1 to the Euro or any other national currency operating in the selected country.
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