Bitcoin stable, altcoins down in First Mover Americas trading.

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Bitcoin remained stable over the weekend, while altcoins continued to underperform. Bitcoin traded between $26,200 and $26,300, while ether, which started the weekend at around $1,700, remained the same. However, altcoins such as Chainlink’s LINK, Cosmos’ ATOM, and NEAR Protocol’s NEAR all lost 3% in the last 24 hours compared to bitcoin and ether. Today, the New York Stock Exchange and the Nasdaq Stock Market are closed in observance of Juneteenth.

A federal judge approved a temporary agreement between the U.S. Securities and Exchange Commission, global crypto exchange Binance, and its U.S. affiliate to ensure that Binance.US only allows local employees to access customer funds as the regulator and companies work through an SEC lawsuit. The parties announced the deal late on Friday to ensure that only Binance.US employees can access customer funds in the short term, which Judge Amy Berman Jackson of the District Court Columbia signed early on Saturday. According to the proposed agreement, Binance.US will take steps to ensure that no officials from Binance Holdings, the global exchange, have access to private keys for wallets or hardware wallets, or root access to Binance.US’ Amazon Web Services tools. The U.S.-based crypto trading platform will share detailed information about its business expenses, including estimated costs, in the coming weeks.

The release of the Hinman papers last week in the SEC’s case against Ripple is a boost to ether (ETH), and is likely to trigger a move to more decentralization in the crypto market, JPMorgan said in a research report on Thursday. Emails related to former SEC Director of Corporation Finance William Hinman’s 2018 speech stating that ether did not appear to be a security were published last Tuesday by Ripple in its defense against an SEC lawsuit. The report noted that senior officials at the SEC did not classify ether as a security in 2018, and SEC officials acknowledged that the “fact that tokens on a sufficiently decentralized network are no longer securities creates a regulatory gap.”

  • Regulatory uncertainty in the crypto market overshadows blockchain development: Bank of America
  • BlackRock may have found a way to obtain SEC approval for a bitcoin ETF
  • zkSync era of Ethereum Layer 2 network surpasses $500 million in locked value

Edited by Sheldon Reback.

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