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🚨Breaking news #Tether co-founder Brock Pierce: China's entry into crypto is inevitable, the real question is not if, but when, he said. $BTC $ETH $BNB

🚨Breaking news
 #Tether  co-founder Brock Pierce: 
 China's entry into crypto is inevitable, the real question is not if, but when, he said.
$BTC $ETH $BNB 

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🧙‍♂️ While US dollar-backed stablecoins had a 90% market share in stablecoin transactions, the share of transactions using direct US dollars was 10%. The usage share of Euro-backed stablecoins was 1.1%.

🧙‍♂️ SEC Chairman Gensler announced that he thinks the Ethereum ETF S-1 filings will be approved in the summer. 🧙‍♂️ CFTC Chairman Rostin Behnam stated that Ethereum is a commodity. 🧙‍♂️ Coinbase exchange announced that it will add futures for BOME and NOT coins.

Terraform agreed with the SEC: It will pay a $4.47 billion fine. The U.S. Securities and Exchange Commission (SEC) on Wednesday filed a “proposed final approval order” with U.S. District Court Judge Jed Rakoff for the Southern District of New York to approve the plan. Under the proposed verdict, Terraform will pay $3.58 billion in restitution, $420 million in civil penalties, and bar Do Kwon from becoming a director or officer of any public company. #TerraformLabs agreed to pay a $4.47 billion penalty after reaching a settlement with the US Securities and Exchange Commission (SEC) over its algorithmic stablecoin falling dramatically in 2022. The #SEC filed a “proposed final approval order” on Wednesday and asked U.S. District Court Judge Jed Rakoff for the Southern District of New York to approve the plan. The SEC said in its court filing: “The proposed consent judgment addresses the magnitude of this fraud, implements significant remedial, punitive, and deterrent measures, includes multibillion-dollar judgment, and ensures meaningful and expeditious relief for investor victims. “If approved, the proposed resolution would send a clear deterrent message not only to those who engage in brazen behavior, but also to all individuals who attempt to establish new standards of conduct to evade the requirements of the federal securities laws.” Terraform and its founder Do Kwon reached an “agreement in principle” with the SEC after oral argument was canceled in late May. Under the proposed verdict, Terraform will pay $3.58 billion in restitution, $420 million in civil penalties and bar Kwon from becoming a director or officer of any public company. Kwon also must pay approximately $204 million “to the Terraform bankruptcy estate for distribution to injured investors,” the SEC said.

Toncoin Outperforms Ethereum in Daily Active Addresses and Transactions. Recently, Toncoin, the blockchain associated with Telegram, has experienced more activity than the well-established Ethereum network. On-chain data from Artemis shows that Toncoin has consistently outperformed Ethereum in daily unique addresses for much of this month. On June 3, Toncoin's daily unique address count hit a year-to-date high of 568,300, surpassing Ethereum's 351,400 address count by 62%. This rapid increase highlights the changing landscape in the crypto industry. Toncoin's daily transaction volume has also exceeded Ethereum since mid-March. Notably, on May 17, Toncoin's daily transactions reached 9 million, significantly surpassing Ethereum's 1.1 million transactions on the same day. This acceleration in user activity is largely attributed to Telegram's large user base of 900 million, according to Delphi Digital. Currently, TON is trading at $7.65, recovering from its two-month low of $6.76 on June 11. In the last 24 hours, the token's trading volume increased by over 100%, reaching a total of $491 million, reported CoinMarketCap. This price recovery brought profits to many TON holders, and the token's value increased by 9%.

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