● CZ: The SEC’s emergency request was not reasonable, but I am glad to reach an agreement with it

Binance founder and CEO Changpeng Zhao (CZ) said on Twitter: "While we maintain that the SEC's emergency rescue request was unreasonable, we are pleased to have resolved our disagreement on this request on mutually acceptable terms. User funds have always been safe on all Binance-affiliated platforms."

● Federal policy experts: It may take more than a decade for regulatory policies on encryption to be implemented

Federal policy expert Dorothy DeWitt warned cryptocurrency companies that even if policy progress is made, regulations could take a decade or more to pass.

DeWitt is a former Senate chief financial counsel and former director of the CFTC’s regulatory division. “Rulemaking takes a long time,” DeWitt said at a recent event, citing the Dodd-Frank Act, issued in 2010, whose final rules were not passed by the CFTC until 2021. “It’s really hard to get consensus among people who have little interest, limited understanding and are intimidated by very complex issues.”

Another guest at the event, James Park, a professor at UCLA Law School, said that while the SEC is formulating regulations, it is also facing a "battle" for jurisdiction with the CFTC and other agencies. (Blockworks)

● French central bank governor: International cooperation is needed to regulate crypto groups

The Governor of the Bank of France, François Villeroy de Galhau, recently stated at an event in Paris that international cooperation is needed to regulate cryptocurrency groups. He believes that it is not enough to regulate only one legal entity in one jurisdiction, and added that in the United States, cryptocurrency companies have multiple legal entities in various jurisdictions, so international cooperation is needed.

Although he stressed that the EU is leading the way in cryptocurrency regulation, Villeroy said a new version of the EU regulation, known as “MiCA 2,” may be needed to deal with cryptocurrency groups. (Bloomberg)

● Hong Kong Financial Secretary Paul Chan Mo-po: Cyberport has attracted more than 150 Web3-related companies to settle down in the past year

Hong Kong Financial Secretary Paul Chan Mo-po wrote that promoting the development of innovation and technology is a key task that the government is stepping up its efforts on. The country’s “14th Five-Year Plan” clearly gives Hong Kong the positioning and mission of building an international innovation and technology center. Using innovation and technology to promote industrial upgrading, transformation and diversified development is the only way for Hong Kong to move towards high-quality development. It will also help the country accelerate the realization of high-level scientific and technological self-reliance and speed up the realization of Chinese-style modernization. The development of innovation and technology is a core issue for Hong Kong’s future development.

Chan Mo-po said that Cyberport's technology ecosystem is also growing rapidly, with more than 1,900 companies, the total financing of start-ups exceeding 35.7 billion yuan, and more than 480 intellectual property projects. One of the companies in the Cyberport community became the second virtual asset trading platform in Hong Kong to be licensed by the Securities and Futures Commission last year. On the other hand, the Budget has allocated 50 million yuan for Cyberport to accelerate the development of Web3.0, the third-generation Internet with blockchain as the underlying technology. Cyberport has accumulated more than 150 related companies settled in the past year, which is believed to bring more innovation in research and development and application for this development.

● Chain detective ZachXBT has received over $1 million in donations

Nansen data shows that the on-chain detective ZachXBT has received over $1 million in donations, which is $1,000,203.46 as of the time of writing. Donors include Binance, crypto media Bankless, Coinbase Cloud protocol head Viktor Bunin, crypto security company CertiK, Cosine, Justin Sun, etc.

Earlier news, Huang Licheng sued the on-chain detective ZachXBT. ZachXBT published an article last year claiming that Huang Licheng had misappropriated 22,000 ETH project funds. The lawsuit was filed on Friday in the U.S. District Court for the Western District of Texas, accusing ZachXBT of defaming Huang Licheng and causing him "serious reputation and monetary damage." Huang Licheng's lawyer stated in the complaint that ZachXBT ignored the devastating impact that publicly alleging criminal behavior might have on the defendant personally, and not only continued to publish his defamatory articles on Medium, but also maliciously promoted the article to his more than 300,000 Twitter followers.

In response, ZachXBT issued a statement saying that the lawsuit filed by Huang Licheng against it is groundless and that it will fight back to defend freedom of speech. ZachXBT has called on supporters to donate to support its legal defense, saying that it expects costs to "easily exceed $1 million."

Huang Licheng tweeted: "I just wanted an apology from (ZachXBT). Any monetary compensation I receive will be donated to charity."

● NFT sales on the Bitcoin chain exceeded $400 million

The latest data from Cryptoslam shows that the total sales of NFTs on the Bitcoin chain has exceeded US$400 million, reaching US$401,714,062 at the time of writing, making it the tenth largest blockchain in terms of NFT sales.

In addition, NFT sales on the Bitcoin chain reached US$109,094,788 in the past 30 days, which means that a quarter of NFT sales on the Bitcoin chain were completed in the past 30 days.

● USDC circulation decreased by $300 million in the past week

Official data shows that in the past 7 days, Circle has issued a total of $800 million USDC, redeemed $1.1 billion USDC, and reduced the circulation by about $300 million. As of June 15, the total circulation of USDC was $28.2 billion, and the reserve was $28.3 billion, including $3.5 billion in cash and $24.8 billion in overnight repurchase agreements.