Crypto Daily Digest - June 20th

DeFi

• Crypto exchange Bybit lays off employees due to market decline. Source
• Babel Finance has taken action to alleviate the company's liquidity situation. Source
• TRON DAO Reserve has purchased 10,000,000 $USDD on TRON. Source
• Top 100 crypto funds cut $ETH holdings by 85% on-chain in 3 months. Source
• CZ says Binance didn't buy 101,266 $BTC. Source
• Data: The whole network contracts liquidated about $147 million in 12 hours. Source
• Solend community's new proposal to revoke previous takeover of the giant whale account has been approved. Source
• The New Solend community proposal suggests revoking the previous proposal taking over the giant whale account and increasing voting time. Source
• Data: stablecoin $USDD drops to $0.9509. Source
• Binance will support the BNB Smart Chain (BEP20) Network upgrade and hard fork. Source
• THORChain's current liability is less than 2% of reserve and its impermanent loss protection is different than Bancor's. Source
• BitMEX Founder: expect more forced selling of $BTC and $ETH. Source
• BNB Chain based StepUp Games appeared rug pull. Source
• zkSync-based DEX ZigZag is expected to issue $ZZ. Source
• Tether is working on a full audit to provide more transparency on its $USDT reserves. Source
• Binance will support Origin Protocol's $OGV airdrop for $OGN holders. Source
• Bancor's Impermanent Loss Protection is temporarily paused. Source
• Celsius says it will work with regulators to find a resolution. Source

Policy & Regulation

• Bermuda Premier: Bermuda wants to be the hub of the global stablecoin market. Source
• Iran to cut off electricity to authorized cryptocurrency mining units. Source
• South Korea delays 20% tax on crypto-asset gains to 2025. Source

NFT

• Move-to-Earn game Walken will have its first NFT sale today at 7pm, UTC. Source
• Christie's NFT head Noah Davis will serve as brand lead for CryptoPunks. Source
• Rapper Snoop Dogg has filed trademark applications for NFT and metaverse. Source
• Jay Chou will launch Tiger Champs NFT collection in association with Paris Saint-Germain soccer team. Source
• Data: Bored Ape Yacht Club 24 hours trading volume up 345.09%. Source

Fundings

• IoTeX core development team MachineFi Lab closes $50 million in funding round with participation from HashKey Capital and others. Source
• FTX acquires Canada-based crypto exchange Bitvo. Source