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Argentinian authorities are looking to work with officials in the Bitcoin-friendly El Salvador to enhance their adoption of the leading digital asset. According to an official report from the Argentinian National Securities Commission (CNV), the agency’s president and vice president, Roberto Silva and Patricia Boedo, held a meeting with Juan Reyes, the president of El Salvador’s National Digital Assets Commission (CNAD), last week to discuss the Central American country’s experience in adopting Bitcoin.

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Argentina to Collaborate With El Salvador in Adopting Bitcoin

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Continuing raids in China on alleged underground gangs using cryptocurrency to facilitate foreign exchange transactions underscore the ineffectiveness of the Asian nation’s 2021 ban on crypto trading. Chengyi Ong, head of policy for the Asia-Pacific region at Chainalysis Inc., said the peer-to-peer nature of cryptocurrency activity renders the ban ineffective.

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Expert Says Peer-to-Peer Nature of Crypto Activity Renders China’s Ban Ineffective

The Turkish parliament’s Planning and Budget Committee will discuss a draft law this week that would require crypto asset service providers to obtain licenses and register. This move aims to enhance Turkey’s compliance with the Financial Action Task Force (FATF) standards. In 2021, FATF placed Turkey on its **“grey list”** due to inadequate oversight of sectors prone to money laundering and financing terrorist organizations.

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Turkish Parliament Committee to Review Crypto Bill This Week

Medical device maker and healthcare technology company Semler Scientific announced Tuesday it plans to buy bitcoin with its cash reserves and, almost immediately, the company's shares rose by as much as 27%. Semler Scientific's board of directors had **"adopted bitcoin as its primary treasury reserve asset"** and **"purchased 581 bitcoins for an aggregate amount of $40 million, inclusive of fees and expenses,"** the company said.

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Healthcare tech company shares surge 27% after announcing plans to buy bitcoin with cash reserves

Over the week, ether (ETH) received a large share of crypto investors’ attention as anticipation intensified about approvals for its spot exchange-traded funds (ETFs). While the crypto asset rallied significantly as the market waited for the U.S. Securities and Exchange Commission’s (SEC) decision on the ETFs, CryptoQuant analysts identified on-chain dynamics that could trigger major volatility soon.

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Ether (ETH) Could See Price Volatility Soon Due to These Metrics: CryptoQuant

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Binance Unveils Cristiano Ronaldo NFT Collection 'Forever Worldwide: The Road to Saudi Arabia'

Hackers were unsuccessful in exploiting any major centralized entity in May, while DeFi protocols witnessed a downtick in losses occurring from hacks and frauds, according to a report from bug bounty platform Immunefi. $52.4 million was stolen from DeFi investors in May due to hacks and frauds. This represents a 12% decrease in the amount lost from the same period in the prior year. Moreover, it is a sharp decline of 28% from April this year.

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Ethereum DeFi Projects Still Favorite Target for Hackers, But Stolen Funds Down 28% in May: Immunefi

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Bitcoin Rewards Those Who HODL

PayPal USD is going live on the Solana blockchain. Users of Solana, the world's third-most-utilized blockchain, can now use the Paxos-issued PayPal USD to facilitate cross-border transactions, such as remittances, as well as a variety of other transactions, according to a statement from PayPal on Wednesday. PayPal USD first launched on the Ethereum network last August.

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PayPal USD to go live on Solana blockchain

London-based digital bank Kroo has barred its customers from performing cryptocurrency transactions. The bank attributes this decision to the increased association of crypto with scams. Kroo joins fellow banks Starling Bank and Chase UK in blocking clients from engaging in crypto transactions. According to the bank’s updated terms and conditions, starting from May 30, 2024, Kroo will decline bank transfer requests or card transactions associated with cryptocurrencies.

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UK Digital Bank Blocks Clients From Performing Crypto Transactions

Cathie Wood, CEO of asset management firm Ark Invest, recently met with El Salvador’s President Nayib Bukele and discussed bitcoin. She praised his progressive approach to economic and educational reforms. **“President Bukele’s determination to transform El Salvador into a hub for the bitcoin and AI communities — two of the most significant economic and technological revolutions in history — is why I believe its real GDP could potentially increase tenfold during the next five years,”** Wood stated.

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Ark CEO Cathie Wood Talks Bitcoin With El Salvador's President — Applauds His Vision for BTC Hub

Ethena Labs USDe stablecoin, also known as a **'synthetic dollar'** which maintains its peg through arbitrage mechanics and a yield-returning cash-and-carry trade, has reached a supply of $3 billion tokens just four months following its public launch in February. Now, it's on track to challenge DAI as the largest algorithmic or decentralized stablecoin, though it'll have to add another $2 billion in supply to get there, according to data from The Block.

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Ethena's 'synthetic dollar' USDe crosses $3 billion supply just four months after launch

Bitcoin remained largely unmoved despite equity markets posting gains after another U.S inflation print was in line with expectations. The largest digital asset by market cap's price has increased a muted 0.7% in the past 24 hours and was changing hands for $68,738 at 9:26 a.m. ET, according to The Block’s Price Page. Similarly, the GM30 Index, representing a selection of the top 30 cryptocurrencies, increased by 0.55% to 144.92 in the past day.

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Bitcoin trades flat as US core PCE inflation remains steady as expected

Deutsche Bank AG has announced its strategic push into blockchain technology as a potential remedy for the margin compression challenges facing the financial services industry, Bloomberg News reported on May 29\. The German banking giant is participating in Singapore’s Project Guardian, an initiative led by the Monetary Authority of Singapore, which aims to harness the benefits of blockchain for financial markets.

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Deutsche Bank sees blockchain as key to tackling margin compression

The European Union Parliamentary Elections, taking place next week, could provide further clues on how crypto will be regulated in that market, according to Bitfinex Head of Derivatives Jag Kooner. **"A right-wing shift could lead to stricter crypto controls, while a pro-crypto outcome might accelerate supportive regulations like MiCA,"** Kooner told The Block.

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EU elections could hint at future direction for crypto regulations, Bitfinex analyst says

Rashawn Russell, a former investment banker, was sentenced on Thursday to 41 months in prison for a cryptocurrency fraud scheme that caused $1.5 million in investor losses. From November 2020 to August 2022, Russell deceived multiple victims by promising high returns from cryptocurrency investments, only to misappropriate their funds for personal use, gambling, and repaying other investors.

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Ex-Banker Sentenced to 41 Months in US Prison for Crypto Fraud Scheme

Binance, the world's largest cryptocurrency exchange by trading volume, announced it will soon restrict availability in the European Union to stablecoins that are considered **"unregulated"** by the EU. In a statement, Binance said the rules for stablecoins outlined in the EU's Markets in Crypto-Assets Regulation (MiCA) will come into effect at the end of June.

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Binance to restrict 'unauthorized' stablecoins in EU starting June 30, urges users to switch to regulated tokens

DMM Bitcoin has outlined plans to cover losses from the theft of over $300 million in bitcoin from the Japanese crypto exchange last week. At the time of the attack, DMM Bitcoin said 4,502.9 BTC ($306 million) had been stolen in an **“unauthorized outflow of funds.”** It sought to reassure users, stating it would guarantee the full amount of their deposits by procuring an equivalent amount of bitcoin.

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Japanese crypto exchange DMM Bitcoin outlines funding plan to cover over $300 million in hack losses

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Crypto Market

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The 'Forever Worldwide: The Road to Saudi Arabia' collection includes seven unique NFTs. Each NFT represents a significant location in Cristiano Ronaldo's illustrious career, spanning Madeira, Lisbon, Manchester, Madrid, Turin, Saudi Arabia, and Portugal. The NFTs will be available exclusively on...

DMM Bitcoin has outlined plans to cover losses from the theft of over $300 million in bitcoin from the Japanese crypto exchange last week. At the time of the attack, DMM Bitcoin said 4,502.9 BTC ($306 million) had been stolen in an “unauthorized outflow of funds.” It sought to reassure users...

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The European Union Parliamentary Elections, taking place next week, could provide further clues on how crypto will be regulated in that market, according to Bitfinex Head of Derivatives Jag Kooner. "A right-wing shift could lead to stricter crypto controls, while a pro-crypto outcome might...

Continuing raids in China on alleged underground gangs using cryptocurrency to facilitate foreign exchange transactions underscore the ineffectiveness of the Asian nation’s 2021 ban on crypto trading. Chengyi Ong, head of policy for the Asia-Pacific region at Chainalysis Inc., said the...

Binance, the world's largest cryptocurrency exchange by trading volume, announced it will soon restrict availability in the European Union to stablecoins that are considered "unregulated" by the EU. In a statement, Binance said the rules for stablecoins outlined in the EU's Markets in...

The Turkish parliament’s Planning and Budget Committee will discuss a draft law this week that would require crypto asset service providers to obtain licenses and register. This move aims to enhance Turkey’s compliance with the Financial Action Task Force (FATF) standards. In 2021, FATF placed...

PayPal USD is going live on the Solana blockchain. Users of Solana, the world's third-most-utilized blockchain, can now use the Paxos-issued PayPal USD to facilitate cross-border transactions, such as remittances, as well as a variety of other transactions, according to a statement from PayPal on...

Medical device maker and healthcare technology company Semler Scientific announced Tuesday it plans to buy bitcoin with its cash reserves and, almost immediately, the company's shares rose by as much as 27%. Semler Scientific's board of directors had "adopted bitcoin as its primary treasury...

Welcome to Crypto Market, a short Polkaverse Profile dedicated to keeping you informed about the latest news, trends, and insights in the world of cryptocurrency. Join us on this exciting journey as we explore the ever-evolving crypto landscape. Don't miss out on essential information for the...

Cathie Wood, CEO of asset management firm Ark Invest, recently met with El Salvador’s President Nayib Bukele and discussed bitcoin. She praised his progressive approach to economic and educational reforms. “President Bukele’s determination to transform El Salvador into a hub for the bitcoin and...

Hackers were unsuccessful in exploiting any major centralized entity in May, while DeFi protocols witnessed a downtick in losses occurring from hacks and frauds, according to a report from bug bounty platform Immunefi. $52.4 million was stolen from DeFi investors in May due to hacks and frauds...

Rashawn Russell, a former investment banker, was sentenced on Thursday to 41 months in prison for a cryptocurrency fraud scheme that caused $1.5 million in investor losses. From November 2020 to August 2022, Russell deceived multiple victims by promising high returns from cryptocurrency...

Argentinian authorities are looking to work with officials in the Bitcoin-friendly El Salvador to enhance their adoption of the leading digital asset. According to an official report from the Argentinian National Securities Commission (CNV), the agency’s president and vice president, Roberto...

London-based digital bank Kroo has barred its customers from performing cryptocurrency transactions. The bank attributes this decision to the increased association of crypto with scams. Kroo joins fellow banks Starling Bank and Chase UK in blocking clients from engaging in crypto transactions...

Over the week, ether (ETH) received a large share of crypto investors’ attention as anticipation intensified about approvals for its spot exchange-traded funds (ETFs). While the crypto asset rallied significantly as the market waited for the U.S. Securities and Exchange Commission’s (SEC...

Bitcoin remained largely unmoved despite equity markets posting gains after another U.S inflation print was in line with expectations. The largest digital asset by market cap's price has increased a muted 0.7% in the past 24 hours and was changing hands for $68,738 at 9:26 a.m. ET, according to...

Deutsche Bank AG has announced its strategic push into blockchain technology as a potential remedy for the margin compression challenges facing the financial services industry, Bloomberg News reported on May 29. The German banking giant is participating in Singapore’s Project Guardian, an...

Ethena Labs USDe stablecoin, also known as a 'synthetic dollar' which maintains its peg through arbitrage mechanics and a yield-returning cash-and-carry trade, has reached a supply of $3 billion tokens just four months following its public launch in February. Now, it's on track to challenge DAI...

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