First Mover Americas: Bitcoin Shows Resilience Amid SEC Lawsuits Against Binance, Coinbase

The latest price moves in bitcoin (BTC) and crypto markets in context for June 7, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.Source

Kim Kardashian EMAX Suit to Proceed as Court Considers Updated Complaint

A California judge backtracked on a tentative ruling to dismiss the allegations against the reality TV star after receiving a more detailed complaint.Source

Research Shows Majority of Pepe Investors Caught in High-Stakes Game of Musical Chairs

The majority of investors did not stand to gain from Pepecoin’s herculean rise, indicating a limited window for potential gains.Source

Crypto Tokens’ Status as Securities or Commodities Is Key to SEC’s Binance, Coinbase Suits: Bernstein

Crypto regulation has become a political debate and a turf battle between the SEC and the CFTC, the report said.Source

Aave Lending Protocol Moves Closer to Launching GHO Stablecoin on Ethereum Mainnet

Aave Companies proposed two key features for the decentralized stablecoin in a governance post on Tuesday.Source

Bitcoin, Dogecoin Lead Bounce in Crypto Majors Day After Record 8-Month Liquidations

Crypto markets added 3.3% to overall capitalization in the past 24 hours as some opined the recent SEC filings could strengthen bitcoin’s value proposition among investors.Source

U.S. Lawmakers Urge IRS, Treasury to Hurry Crypto Tax Rules

Congressmen Brad Sherman and Stephen Lynch called the crypto industry “a major source of tax evasion” in a letter asking for the prompt release of proposed regulations.Source

Coinbase Shares Slump After SEC Files Suit Against Company

Coinbase’s stock (COIN) took a major hit on Tuesday after the company was sued by the U.S. Securities and Exchange Commission (SEC) on allegations of violating federal securities law.Source

U.S. Doesn’t ‘Need More Digital Currency’ Because It Has the Dollar, Says SEC’s Gensler

Gensler’s comments follow landmark suits filed this week against Binance and Coinbase.Source

Swift and Chainlink Will Test Connecting Over a Dozen Financial Institutions to Blockchain Networks

In a new set of experiments Swift will collaborate with major financial market institutions like Australia and New Zealand Banking Group Limited (ANZ), BNP Paribas, BNY Mellon, Citi, Clearstream, Euroclear and Lloyds Banking Group.Source