Introduction

L2 blockchains are protocols that offer solutions to increase the scalability and security of blockchains. They also open up many opportunities for developers and businesses.

Development

Opportunity to create more complex decentralised applications: L2 blockchains allow developers to create more complex decentralised applications that are impossible to achieve with the main blockchain due to its processing capacity limitation. L2 blockchains allow greater flexibility in the design of smart contracts, enabling developers to create more advanced and sophisticated applications that can meet specific needs in different industries.

Reduced transaction costs: L2 blockchains reduce transaction costs by transacting off the main chain, allowing more transactions to be processed at lower cost. This is particularly important for transaction-intensive applications, such as payment or money transfer applications, where high costs can be a barrier to the adoption of blockchain technology.

Potential to create new markets: L2 blockchains offer the potential to create new markets by enabling more sophisticated smart contracts and private transactions. For example, it is possible to set up smart contracts for the management of locally produced solar energy and for the sale of energy in a decentralised market. L2 blockchains also allow for private transactions, which can be important for companies seeking to protect the privacy of their data.

Improved security: L2 blockchains improve the security of blockchains by allowing transactions to be processed off the main chain, reducing the risk of malicious attacks. Transactions on the main chain can be more easily verified and validated, which enhances the overall security of the blockchain.

Increased blockchain adoption: L2 blockchains offer solutions for scalability and security issues, which can encourage wider adoption of blockchain technology across different industries. The adoption of blockchain can lead to reduced costs, improved efficiency and increased transparency in work processes, which can have a positive impact on the bottom line and customer confidence.

Conclusion

L2 blockchains offer many opportunities for developers and businesses by enabling the creation of more complex decentralised applications, reducing transaction costs, creating new markets, improving security and increasing

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▶️ FTX victims' anonymity will be preserved. Creditors and their lawyers have succeeded in bending the justice system not to publicly disclose customer data to protect their privacy. This decision is aimed at guaranteeing victims' confidentiality and avoiding any breach of their personal security.

▶️ Faced with the crusade led by the SEC, the American regulatory authority, Hong Kong invited Coinbase to consider relocating. The Legislative Council has publicly encouraged Coinbase, a leading cryptocurrency exchange platform, to relocate to Hong Kong to benefit from clear and established crypto legislation. The move is aimed at attracting companies in the sector and reinforcing Hong Kong's status as an international financial center.

▶️ Withdrawals could reopen on BlockFi, a cryptocurrency-related financial services company that had announced restrictions on cash withdrawals. According to the latest information, BlockFi plans to lift these restrictions and allow its users to withdraw their funds as early as this summer. This decision could reassure users and restore confidence in the platform.

▶️ A major turning point has been seen in the legal battle between the SEC and Ripple, the issuer of the XRP cryptocurrency. The Hinman documents, long-awaited for 18 months, have finally been revealed. These documents could play a decisive role in the outcome of the dispute between the two parties. They contain information on the classification of certain cryptocurrencies and could have a significant impact on the future regulation of the sector.

▶️ Uniswap, a decentralized exchange protocol based on the Ethereum blockchain, has announced new features for its next version, Uniswap v4. The platform unveiled its vision for v4, which includes several innovations such as Hooks, modules that can be added to pools. These enhancements are aimed at providing an improved user experience and boosting trading efficiency on Uniswap.

▶️ BlackRock, the world's largest financial group, has expressed its intention to launch a Bitcoin ETF. The company has filed an application with the SEC, the US regulatory authority, for the creation of this financial product. A Bitcoin ETF would give investors easy, indirect access to the cryptocurrency market, which could have a significant impact on the adoption and legitimization of digital assets.

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This agreement would be reached to protect customer assets and avoid a complete shutdown of Binance.us.

June 14 marked a pivotal moment for Binance.us as it reached an agreement with the U.S. Securities and Exchange Commission (SEC). Their pact aims to maintain business in lieu of a freeze on its vast assets.

The mediation was handled by U.S. District Judge Amy Berman Jackson, who was keen to secure a mutually beneficial compromise to protect customers' assets without having to shut down the exchange.

At a public hearing on the eve of the agreement, Judge Jackson emphasized the dramatic repercussions a complete shutdown could have both onBinance.us and more broadly on the digital asset market. She deferred ruling on the SEC's request for a temporary restraining order against the company, pending the outcome of legal negotiations.

Despite the heated controversy, Judge Jackson observed that the SEC and Binance.us were not far from reaching an agreement, adding an air of optimism to the proceedings. The tension had intensified after John Reed Stark, a former SEC lawyer, alluded to the conflicts each side hoped to resolve at the hearing.

The brawl stemmed from an emergency motion filed by the SEC against Binance.us earlier in June, centered on allegations against Chang peng "CZ" Zhao, Binance's CEO.

The SEC raised concerns about Zhao's ability to access Binance.US customer funds, claiming that he had transferred a substantial $12 billion in Binance assets via his controlled entity, Merit Peak. But just days before the hearing,

Binance.us and Zhao fired back, denying all allegations of embezzlement and challenging the SEC to identify a single instance of misuse of customer funds.

Two Russian nationals have been charged with hacking the bankrupt exchange since 2014, Mt. Gox. The platform was experiencing major difficulties due to hacks in 2011. To this day, creditors are still awaiting the return of their funds. The two accused, Alexey Bilyuchenko and Aleksandr Verner allegedly stole 647,000 BTC in 2011 by illegally accessing Mt. Gox wallets. Bilyuchenko is also implicated in the BTC-e case, which further complicates his situation. If convicted, they face 20 to 45 years in prison. What's more, the Mt. Gox case, which dates back almost 10 years, is still unresolved, suggesting that other recent ecosystem scandals may also take time to resolve. #Blockchain #Binance #Bitcoin #BNB #Hack $BTC $VET $DOT