A Japanese crypto exchange will buy $300 million worth of bitcoins to compensate for hacking.

Japanese crypto exchange DMM Bitcoin announced plans to raise 50 billion yen ($321 million) from affiliated companies to buy bitcoins to compensate users affected by the hack. Bloomberg writes about this.

On May 31, hackers managed to withdraw 4502.9 BTC from the exchange wallets. It was the seventh-largest cryptocurrency theft in history, according to analytics company Chainalysis. The hack was the second largest stolen among crypto exchanges in Japan. In 2018, NEM cryptocurrency worth 58 billion Japanese yen was stolen from the Coincheck platform as a result of a hacker attack—approximately $370 million at the current exchange rate.
 

Joe Biden vetoed a resolution to rescind SEC recommendations.

US President Joe Biden vetoed a joint resolution of the US House of Representatives in which lawmakers tried to repeal the SEC's accounting amendment SAB 121. The US president's address said the repeal of the Securities and Exchange Commission's (SEC) guidelines undermines the government regulator's authority over accounting practices and unduly limits its ability to address future challenges and establish effective investor protections.

In response to Biden's veto, the nonprofit Blockchain Association expressed disappointment, emphasizing that the initiative to repeal SAB 121 received a bipartisan majority in both houses of Congress, recognizing the harm it would cause to the US economy.

 

Attention ARB holders: the price may drop below $1.

Despite the generally positive market sentiment, Arbitrum (ARB) faces the risk of a price correction. This vulnerability stems from a recent failure to break through a key resistance level. Investors hold the key to preventing the decline, but with current conditions ripe for profit-taking, selling pressure could intensify.

One indicator that indicates a potential sale is the market value to realized value ratio (MVRV). This indicator reflects the investor's profit or loss. The 30-day MVRV Arbitrum is at 10%, which historically is the zone where corrections typically occur (7% to 23% MVRV). This suggests investors who bought ARB last month may be looking to cash in on their gains.

 

Notcoin (NOT) entered the top 4 cryptocurrencies in terms of transaction volume.

The acclaimed Web3 gaming project Notcoin has unlocked another achievement. In terms of daily trading volume, the NOT token came in fourth place, behind only Bitcoin (BTC), Ethereum (ETH), and Tether USD (USDT).

According to CoinGecko, NOT trading volume over the past 24 hours was $4.7 billion, up 124% from the previous day.

 

SHIB loses 84% ​​on a key metric due to whale loss.

In a recent report, data from IntoTheBlock showed a significant decline in large transaction volumes for the meme-inspired cryptocurrency Shiba Inu (SHIB).

Over the past 48 hours, the volume of these transactions, characterized by transfers exceeding $100,000, has plummeted by an astounding 83.77%. This drop was 11.65 trillion SHIB tokens to a total of 1.89 trillion SHIB tokens. In monetary terms, this decline is even more pronounced: it decreased by 85.2% from $321.63 million to $47.69 million. The price of the Shiba Ina itself fell 2.4% during this period.

The number of large transactions also fell sharply, falling from 584 to just 99 over the two-day period.

Large transactions usually indicate the actions of whales and institutional players in the market. The decline in these transactions indicates a noticeable decline in activity among these major players in the Shiba Inu ecosystem.
 

Binance will restrict access to some stablecoins in the EU. Who will be affected by the restrictions?

Crypto exchange Binance warned users about restrictions due to the entry into force of new rules for stablecoins in the European Economic Area (EEA).

From June 30, 2024, MiCA provisions affecting “stablecoins” come into effect. Their operators are required to obtain a license from the competent authority of an EU member state and comply with requirements to ensure the stability of their tokens.

Companies will have to provide full disclosure to customers, present a public business model, establish an effective governance system, including risk management, as well as register with the EBA, create a buyback mechanism, and have sufficient reserves.

 

Hamster Kombat's user base has surpassed 100 million.

According to Foresight News, the user base of the TON Hamster Kombat ecosystem game has exceeded 100 million people, according to official data. This milestone indicates the game's growing popularity in the TON ecosystem.