Binance CEO Changpeng Zhao Summoned to Court
Binance CEO CZ was subpoenaed to appear in court on June 7 to face charges against him. It is known that CZ is not obliged to be there, but it is legally required to make a return. It is known that the SEC has made different accusations against CZ under the Binance cases outside the stock exchange and accused CZ of using the customer’s assets deposited on the exchange for his own private funds and personal expenses.
Off-Exchange Whales Continue to Collect Ethereum
Off-exchange Ethereum whales continue to accumulate Ethereum. With the purchases that took place after the recent events, it is seen that approximately 31.8 million Ethereum has been taken by these whales and the total value has reached 59.6 billion dollars.
Arbitrum Network Experienced a Short Pause
A bug in the Arbitrum network caused a short disruption. The technical error caused the network to briefly stop sending transactions to Ethereum. The problem was quickly solved and the network was restored to normal.
Coinbase Doesn’t Plan to Delist Coins and Close Stake Trading
After the SEC lawsuit on Tuesday, all eyes turned to the reaction of Coinbase management. Company CEO Brian Armstrong made important statements to some channels after he made a post criticizing the SEC. He stated that they were able to get permission from the SEC for an IPO 2 years ago and that the SEC contradicted that period. At the same time, Armstrong and several company executives said they have no plans to delist any coins or terminate the staking service.
Circle Obtains License in Singapore
The second biggest. Circle, the maker of the stablecoin USDC, has received a license from Singapore to offer payment services. The MPI license allows Circle Singapore to offer different services such as digital payment services, international and domestic money transfer services.
SEC Gets 1 Week in Court
Coinbase has been in court with the SEC since last year. Coinbase had taken the SEC to court for obstructing the industry and making moves that caused constant confusion. Following a warning letter from the SEC to Coinbase in March, Coinbase went to court and asked the SEC to write a petition on which coins are categorized as securities. The SEC did not respond to the court’s request. However, with the litigation process, the court requested the SEC to make its return on this issue within 1 week.
Ripple Makes Harsh Statements About SEC
Ripple CEO Brad Garlinghouse made important statements about the SEC’s lawsuit against stock exchanges. Garlinghouse told the SEC that they cannot get rid of the FTX fiasco by suing the exchanges. Garlinghouse also noted that Gensler’s actions are now different from his “pro-innovation stance”.
Bitcoin is priced at $ 26,415 with a 0.29% gain in value as of today morning hours. After failing to stay strong as expected at the 26,800 level in Bitcoin, it is seen that the price returned to the support zone at the 26,200 level. BTC, which is supported from this region for now, seems to be the next support level at the $ 25,200 level, which is a very critical and strong region if it breaks down. In Bitcoin, the price movement does not show much appropriate behavior to the lawsuits, the exchanges continue their processes without paying much attention to the SEC’s lawsuits, but on the Binance side, asset freezing, etc. We think that we may see some selling pressure in case of news.
ETH, which gained 0.24% as of morning hours, is priced at $ 1881. In Ethereum, we see that the 1780-1955 horizontal channel movement since the end of April continues. After returning to the support level with the Binance news, ETH, which broke the 1870 region, which was the mid-band of the channel by rising again yesterday, retested this region after the breakout and fell below this level and retreated to the 1820 level. We can say that pricing in Ethereum does not look very positive and that the 1780 level is quite critical if the price retreats further.
AVALANCHE [AVAX]
AVAX is trading at $ 13.83, losing 1.31% as of today morning hours. AVAX became one of the largest market capitalization coins among altcoins not named in the SEC case. This has not yet had a positive impact on its pricing, but we also see that it is not affected by negative pricing like other coins. AVAX continues its area scanning movement on the 4-hour chart. AVAX, which rose to 14.60 levels by realizing a significant rise after the buying opportunity it gave by falling to 13.90 on Tuesday then retreated back to the support zone. We can say that this movement in AVAX should be used as long as it continues, and every touch of support and resistance levels without a breakout will be an important opportunity.
