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Musk & Cardano: A Crypto Power Duo?
Cardano founder Charles Hoskinson recently hinted at a possible collaboration with Elon Musk.
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Here's what we've got for you today:
Could Elon Musk Be Cardano’s Next Big Partner?
Ether Notches Second-Biggest Hodler Buying Day in History
Biden Announces His SEC, FDIC, and Treasury Leadership Picks
U.S. Judge Signs Off on $4.5B Terraform-Do Kwon Settlement With SEC
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Cardano founder Charles Hoskinson’s recent hint at a possible collaboration with Elon Musk has ignited excitement in the crypto community.
A partnership with Musk could have a huge positive impact on Cardano’s visibility in the tech world, according to crypto analyst Cheeky Crypto.
There are also speculations that Elon Musk holds 20% of the DOGE supply, which could impact both Dogecoin and Cardano, especially considering Musk’s very influential presence in the crypto market.
Cardano is now a trending topic on social media platforms like X and Reddit, which could increase ADA's appeal as an investment option.
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Demand for ETH from long-term holders rocketed on Jun. 12 as the price of the altcoin fell.
298,000 ETH, worth about $1.34 billion, was bought by accumulation addresses on Jun. 12, according to CryptoQuant's head of research, Julio Moreno.
This was only 6% lower than the record set on Sept. 11 of 2023, when 317,000 ETH was bought as its price fell below $1,600.
The latest increase in demand happened as ETH’s price dropped by 8+% over the past seven days.
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President Joe Biden announced some major changes to the leadership at key financial regulatory bodies.
Biden wants Christy Goldsmith Romero of the Commodity Futures Trading Commission (CFTC) to replace Martin Gruenberg as Chair of the Federal Deposit Insurance Corporation (FDIC).
CFTC Commissioner Kristin Johnson has been nominated to become the next Assistant Secretary for Financial Institutions at the Treasury Department.
Caroline Crenshaw is expected to remain a commissioner at the Securities and Exchange Commission (SEC).
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A U.S. District Court judge agreed to a settlement between the SEC, Terraform Labs and its former CEO, Do Kwon.
District Court Judge Jed Rakoff approved a settlement that requires Terraform Labs and Kwon to pay $4.5 billion in disgorgement and civil penalties, along with a permanent ban on buying and selling "crypto asset securities."
The SEC initially suggested a $5.3 billion settlement, but lawyers for Terraform Labs argued for a fine of no more than $1 million.
The settlement comes just two months after a New York jury found Terraform Labs and Kwon civilly liable for fraud stemming from the $40 billion collapse of the Terra ecosystem in May of 2022.
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