Crypto Market Highlights June 17, 2022
Crypto Market Highlights: General News
- According to a recent leak, Elon Musk is planning to add more payment features to Twitter, including a cryptocurrency option. On June 16, Elon Musk had a meeting with Twitter employees to discuss how he would run the company when he took over successfully. According to a meeting minutes disclosed by Vox, the billionaire shared his thoughts that money is essentially a form of information and digital payments that have become increasingly popular in recent years.
- Billionaire Elon Musk and his companies Tesla and SpaceX have been sued by an American investor for their connection to Dogecoin (DOGE). According to Bloomberg, an American citizen named Keith Johnson has filed a lawsuit against Elon Musk and his two companies as CEO, SpaceX, and Tesla, alleging that they both fraudulently lured investors into the cryptocurrency Dogecoin, causing heavy damage.
- MakerDAO has just decided to stop pumping money into Aave through its D3M partnership product, in order to minimize the risk if Celsius defaults and the price of stETH could plummet. MakerDAO has just voted to approve a proposal to stop lending to Aave stablecoin DAI in the form of unsecured assets. The move means that MakerDAO is looking to gradually reduce its exposure to the recent stETH crash and control the risk for stablecoin DAI. The proposal has been approved by the majority of votes and will officially go into operation at 4 am on June 18. However, the D3M delay is said by Maker to be “temporary” amid the current volatility.
- Securities regulators in five US states are reportedly investigating crypto lender Celsisus over its decision to suspend customer withdrawals this week. According to a Reuters report, the Texas Securities Commission’s chief enforcement officer, Joseph Rotunda, revealed that officials in five US states including Texas, Alabama, Kentucky, New Jersey and Washington are preparing to move forward investigation of Celsisus.
- Circle, the company behind USDC, today announced the release of a new product, a euro-backed stablecoin. Circle revealed that EUROC will be listed and opened for trading on exchanges on June 30, with the support of CEX exchanges including FTX, Bitstamp, Binance.US, Huobi; DEX exchanges include Uniswap, Compound, Curve; custody units include Anchorage Digital, CYBAVO, Fireblocks; Ledger and MetaMask wallets.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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