# The Coinweb Weekly Spin By [Coinweb.io](https://paragraph.com/@rukawin) · 2023-06-19 --- \*\*The Weekly Spin. _Seventh Edition._\*\* Another eventful week goes by in the crypto industry, never a dull moment. After the U.S. SEC went for the two biggest players in the industry, Binance and Coinbase, they sought for an injunction to freeze Binance.US assets – and were promptly denied by the court. Hearings were held at Congress, and a controversial SPAC exchange “Prometheum” represented the crypto industry defending the SEC regarding their lack of regulatory clarity; the speakers were exposed as political insiders and crypto twitter had a hay day about it. Rumors of the largest stablecoin provider by market capitalisation, Tether (USDT), depegging from parity with the dollar caused markets to panic; simultaneously, the founder of Curve.fi was reported to have sent the majority of the protocol’s tokens for liquidity via Aave, causing speculators to heavily short the token amidst extreme volatility and negative market sentiment. It appears that the industry is under a full-scale attack from the US government and the financial-industrial complex, as we saw the price of Bitcoin and Ethereum dive further into the red despite positive inflation data and the FED pausing interest rate hikes for the first time in over a year. Nonetheless, Coinweb staged a massive recovery surging past year-long high levels and led the market for a day this week – following strong performance and the start of a highly anticipated equity raise round.  The world’s stock markets have been on a tear, from the NASDAQ gaining over 40% and the Nikkei showing the best performance since pre-pandemic levels. Meanwhile, China has started to provide stimulus into their economy, and Hong Kong’s attractiveness as a global crypto hub has started to manifest as the rest of the world (RTW) opens its arms to the fallout victims of the American financial regime collapse. A lot of coverage in the TL section this week, as many opinion leaders took to the press about the various advances and shifts in the industry and neighboring verticals… here is our round-up of curated news and opinions (surely biased) from the world of Blockchain, keeping you informed into the market news with the most trending, in-the-know, and controversial topics. In the name of transparent, dissemination of information to keep you curious, inspired, and clinically sane… **Ongoings at Coinweb** **Coinweb Launches Official Partnership with CryptoBanter** Coinweb joins the fastest growing community and highest alpha-per-minute show, the CryptoBanter Fam! Read more about it and use their referral link to access our Zealy for potential rewards! [https://coinweb.io/events/banter/](https://coinweb.io/events/banter/) **Coinweb is accepting Alpha Wallet Tester registrations on Zealy!** Join our community of Questooors on the Zealy (formerly Crew3) platform to earn XP and special privileges – including an opportunity to participate in our Alpha Wallet Tester Program! [https://zealy.io/c/coinweb/questboard](https://zealy.io/c/coinweb/questboard) **A Thread on the Coinweb “Token Shield” and How It Works** [https://twitter.com/CoinwebOfficial/status/1667167179287011330?s=20](https://twitter.com/CoinwebOfficial/status/1667167179287011330?s=20) **The Coinweb Monthly Spin, our round-up of Coinweb-related events, updates, and news from the Web3 industry – June Edition** [https://coinweb.beehiiv.com/](https://coinweb.beehiiv.com/) **“Interoperability vs. Security” at The Soho House  feat. Animoca Brands, Valhalla Ventures, and Alkia, June 1st** “Coinweb does it again,” another wildly successful night with the international tech community in Bangkok, packed to a full house and the most attendees we’ve ever hosted… [https://coinweb.io/events/interoperability-vs-security/](https://coinweb.io/events/interoperability-vs-security/) **Venture Alpha Podcast by Contango: Episode 7** Making Blockchain Accessible with a Revolutionary Cross-Chain Ecosystem [https://open.spotify.com/episode/3QW9iSHaVsMRIGlRo5msyS?si=jBV58G5kQUOhVDrbFyLg0A&nd=1](http://open.spotify.com/episode/3QW9iSHaVsMRIGlRo5msyS?si=jBV58G5kQUOhVDrbFyLg0A&nd=1) **Coinweb’s Maksym Surzhynskyi speaks at the Lublin Central Europe Forum, on behalf of the National Academy of Sciences of Ukraine** [https://www.youtube.com/watch?v=tkHIxCXKx0M](https://www.youtube.com/watch?v=tkHIxCXKx0M) **Implementing Gas Fee Abstraction on Coinweb** [https://medium.com/@Coinweb.io/implementing-gas-fee-abstraction-on-coinweb-c6843ec6613b](https://medium.com/@Coinweb.io/implementing-gas-fee-abstraction-on-coinweb-c6843ec6613b) **Coinweb Completes Integration of 4 New Blockchains Delivering Along its Roadmap for Cross-Chain Interoperability** [https://finance.yahoo.com/news/coinweb-completes-integration-4-blockchains-154031366.html?guccounter=1](https://finance.yahoo.com/news/coinweb-completes-integration-4-blockchains-154031366.html?guccounter=1) **Coinweb Prioritises Community Trust with Transparent Reserve Allocation** [https://medium.com/@Coinweb.io/coinweb-prioritises-community-trust-with-transparent-reserve-allocation-ce14063b6fa9](https://medium.com/@Coinweb.io/coinweb-prioritises-community-trust-with-transparent-reserve-allocation-ce14063b6fa9) **CWEB Token Usage and Utility** [https://medium.com/@Coinweb.io/cweb-token-usage-913307f8f441](https://medium.com/@Coinweb.io/cweb-token-usage-913307f8f441) **On the Radar** **Polkadot Decoded, Jun 28-29 (Copenhagen)** **ETH Barcelona, Jul 5-7 (Barcelona)** BlockDown Festival, Jul 10-12 (Albufeira) NFT Show Europe, Jul 14-15 (Valencia) **AIBC Asia, Jul 19-22 (Manila)** **ETH Toronto, Aug 13-16 (Toronto) Coinfest Asia by Coinvestasi, Aug 24-25 (Bali)** **TOKEN2049, Sep 13-14 (Singapore)** Metaverse Summit, Sep 21-22 (Paris) **Blockchain Events curated by CryptoNomad** [https://docs.google.com/spreadsheets/d/1KtyFTb\_W282bQ1xoVA5rlTwTDz3QfhswWIVpXhpbQIc/edit](https://docs.google.com/spreadsheets/d/1KtyFTb_W282bQ1xoVA5rlTwTDz3QfhswWIVpXhpbQIc/edit) **On the Block(chain)** Polygon price in red, PEPE surges, and tradecurve shows bullish patterns [https://crypto.news/polygon-price-in-red-pepe-surges-and-tradecurve-shows-bullish-patterns/](https://crypto.news/polygon-price-in-red-pepe-surges-and-tradecurve-shows-bullish-patterns/) Twitter thread shows Coinbase’s servers may be compromised [https://crypto.news/twitter-thread-shows-coinbases-servers-may-be-compromised/](https://crypto.news/twitter-thread-shows-coinbases-servers-may-be-compromised/) Celsius users will be allowed to swap altcoins for BTC and ETH [https://crypto.news/celsius-users-will-be-allowed-to-swap-altcoins-for-btc-and-eth/](https://crypto.news/celsius-users-will-be-allowed-to-swap-altcoins-for-btc-and-eth/) BlackRock files for spot Bitcoin ETF; Coinbase to serve as custodian for BTC holdings [https://cryptoslate.com/blackrock-files-for-spot-bitcoin-etf-coinbase-to-serve-as-custodian-for-btc-holdings/](https://cryptoslate.com/blackrock-files-for-spot-bitcoin-etf-coinbase-to-serve-as-custodian-for-btc-holdings/) Tether stops fighting freedom of information request, allows disclosure of reserve data [https://cryptoslate.com/tether-stops-fighting-freedom-of-information-request-allows-disclosure-of-reserve-data/](https://cryptoslate.com/tether-stops-fighting-freedom-of-information-request-allows-disclosure-of-reserve-data/) White hat hacker exploits Hashflow for $600K, seemingly just to return funds [https://cryptoslate.com/white-hat-hacker-exploits-hashflow-for-600k-seemingly-just-to-return-funds/](https://cryptoslate.com/white-hat-hacker-exploits-hashflow-for-600k-seemingly-just-to-return-funds/) Node operators urged not to upgrade to the latest version of a Bitcoin lightning network node implementation [https://crypto.news/node-operators-urged-not-to-upgrade-to-the-latest-version-of-a-bitcoin-lightning-network-node-implementation/](https://crypto.news/node-operators-urged-not-to-upgrade-to-the-latest-version-of-a-bitcoin-lightning-network-node-implementation/) **Competitive Landscape** Uniswap v4 at a Glance (+Vitalik Post) [https://open.substack.com/pub/defieducation/p/uniswap-v4-at-a-glance-vitalik-post?r=1ivajd&utm\_campaign=post&utm\_medium=email](https://open.substack.com/pub/defieducation/p/uniswap-v4-at-a-glance-vitalik-post?r=1ivajd&utm_campaign=post&utm_medium=email) DWF Labs joins TON accelerator program [https://crypto.news/dwf-labs-joins-ton-accelerator-program/](https://crypto.news/dwf-labs-joins-ton-accelerator-program/) Coinbase collaborates with Bitkey for bitcoin transactions [https://crypto.news/coinbase-collaborates-with-bitkey-for-bitcoin-transactions/](https://crypto.news/coinbase-collaborates-with-bitkey-for-bitcoin-transactions/) Astar Network unveils ‘Astar 2.0 Vision’ for mass adoption [https://crypto.news/astar-network-unveils-astar-2-0-vision-for-mass-adoption/](https://crypto.news/astar-network-unveils-astar-2-0-vision-for-mass-adoption/) DeBridge launches DLN Trade, enabling secure cross-chain trading without liquidity pools [https://cryptoslate.com/debridge-launch-dln-trade-enabling-secure-cross-chain-trading-without-liquidity-pools/](https://cryptoslate.com/debridge-launch-dln-trade-enabling-secure-cross-chain-trading-without-liquidity-pools/) ByteDance Wants to Build an Everything App to Rival WeChat [https://www.bloomberg.com/news/articles/2023-06-14/bytedance-s-douyin-challenges-wechat-to-become-china-s-next-everything-app](https://www.bloomberg.com/news/articles/2023-06-14/bytedance-s-douyin-challenges-wechat-to-become-china-s-next-everything-app) How Apple’s visionOS can pave the way for mainstream metaverse adoption [https://cryptoslate.com/how-apples-visionos-can-pave-the-way-for-mainstream-metaverse-adoption/](https://cryptoslate.com/how-apples-visionos-can-pave-the-way-for-mainstream-metaverse-adoption/) Coinbase doubles USDC rewards to 4% amid SEC scrutiny on staking services [https://cryptoslate.com/coinbase-raises-usdc-rewards-to-4/](https://cryptoslate.com/coinbase-raises-usdc-rewards-to-4/) Meta unveils speech generation AI: Voicebox [https://cryptoslate.com/meta-unveils-speech-generation-ai-voicebox/](https://cryptoslate.com/meta-unveils-speech-generation-ai-voicebox/) **US. Coordinated Regulation Failures** Depicting Powell’s speech: Higher for longer [https://cryptoslate.com/insights/depicting-powells-speech-higher-for-longer/](https://cryptoslate.com/insights/depicting-powells-speech-higher-for-longer/) Prometheum, a SEC-registered broker-dealer, sets Twitter ablaze with speculation [https://cryptoslate.com/prometheum-a-sec-registered-broker-dealer-sets-twitter-ablaze-with-speculation-heres-what-you-need-to-know/](https://cryptoslate.com/prometheum-a-sec-registered-broker-dealer-sets-twitter-ablaze-with-speculation-heres-what-you-need-to-know/) Crypto lobbyists seek SEC info on regulatory approval for Prometheum [https://crypto.news/crypto-lobbyists-seek-sec-info-on-regulatory-approval-for-prometheum/](https://crypto.news/crypto-lobbyists-seek-sec-info-on-regulatory-approval-for-prometheum/) XRP Drops 5% as Markets Digest Hinman Documents, SEC Court Case [https://decrypt.co/144569/xrp-drops-markets-digest-hinman-documents-sec-court-case](https://decrypt.co/144569/xrp-drops-markets-digest-hinman-documents-sec-court-case) Texas regulator says Abra secretly moved funds to Binance, has been insolvent for months [https://cryptoslate.com/texas-regulator-says-abra-secretly-moved-funds-to-binance-has-been-insolvent-for-months/](https://cryptoslate.com/texas-regulator-says-abra-secretly-moved-funds-to-binance-has-been-insolvent-for-months/) NYAG releases documents detailing Tether’s exposure to Chinese securities in 2021 [https://cryptoslate.com/nyag-releases-documents-detailing-tethers-exposure-to-chinese-securities-in-2021/](https://cryptoslate.com/nyag-releases-documents-detailing-tethers-exposure-to-chinese-securities-in-2021/) Ripple CTO says large XRP holdings does not make it centralized [https://crypto.news/ripple-cto-says-large-xrp-holdings-does-not-make-it-centralized/](https://crypto.news/ripple-cto-says-large-xrp-holdings-does-not-make-it-centralized/) Binance.US reportedly cuts 50 staff following SEC charges [https://cryptoslate.com/binance-us-reportedly-cuts-50-staff-following-sec-charges/](https://cryptoslate.com/binance-us-reportedly-cuts-50-staff-following-sec-charges/) Prosecutors withdraw 5 charges against Sam Bankman-Fried to ensure trial proceeds on schedule [https://cryptoslate.com/prosecutors-withdraw-5-charges-against-sam-bankman-fried-to-ensure-trial-proceeds-on-schedule/](https://cryptoslate.com/prosecutors-withdraw-5-charges-against-sam-bankman-fried-to-ensure-trial-proceeds-on-schedule/) CoinEx agrees to pay over $600k fine to New York [https://cryptoslate.com/coinex-agrees-to-pay-over-600k-fine-to-new-york/](https://cryptoslate.com/coinex-agrees-to-pay-over-600k-fine-to-new-york/) **World** Bank of China investment arm issues tokenized notes on Ethereum [https://blockworks.co/news/boc-investment-arm-tokenized-notes?mkt\_tok=NTAzLUZBUC0wNzQAAAGMYEOPMJThVDCSrYyasQCeKkDRwYU2hnxUOj\_s8HPaVI10Jdf8ROwTP0VSvZKFv0ODeuILNkmKd0aMGJark-P5yyr5B6H-UqIpHQTCpGYZJnU1](https://blockworks.co/news/boc-investment-arm-tokenized-notes?mkt_tok=NTAzLUZBUC0wNzQAAAGMYEOPMJThVDCSrYyasQCeKkDRwYU2hnxUOj_s8HPaVI10Jdf8ROwTP0VSvZKFv0ODeuILNkmKd0aMGJark-P5yyr5B6H-UqIpHQTCpGYZJnU1) Bank of Thailand Announces CDBC Pilot with Krungsri and SCB [https://crypto.news/bank-of-thailand-announces-cbdc-pilot-project/](https://crypto.news/bank-of-thailand-announces-cbdc-pilot-project/) Hong Kong pushes HSBC and Standard Chartered to embrace crypto clients [https://crypto.news/hong-kong-pushes-hsbc-and-standard-chartered-to-embrace-crypto-clients/](https://crypto.news/hong-kong-pushes-hsbc-and-standard-chartered-to-embrace-crypto-clients/) Huobi launches Mars Program, becomes first cryptocurrency exchange to explore space [https://crypto.news/huobi-launches-mars-program-becomes-first-cryptocurrency-exchange-to-explore-space/](https://crypto.news/huobi-launches-mars-program-becomes-first-cryptocurrency-exchange-to-explore-space/) Do Kwon’s detention extended six months by Montenegrin court [https://cryptoslate.com/do-kwons-detention-extended-six-months-by-montenegrin-court/](https://cryptoslate.com/do-kwons-detention-extended-six-months-by-montenegrin-court/) TikTok’s CEO Says It Plans to Invest Billions in Southeast Asia [https://www.bloomberg.com/news/articles/2023-06-15/tiktok-s-ceo-says-it-plans-to-invest-billions-in-southeast-asia](https://www.bloomberg.com/news/articles/2023-06-15/tiktok-s-ceo-says-it-plans-to-invest-billions-in-southeast-asia) **Thought Leadership** Cambrian Explosion of Cryptographic Proofs [https://starkware.medium.com/cambrian-explosion-of-cryptographic-proofs-5740a41cdbd2](https://starkware.medium.com/cambrian-explosion-of-cryptographic-proofs-5740a41cdbd2) How web3 meets creative industries in Portugal: Interview [https://cryptoslate.com/how-web3-meets-creative-industries-in-portugal-interview/](https://cryptoslate.com/how-web3-meets-creative-industries-in-portugal-interview/) Understanding the security measures in Coinbase’s multiparty computation implementation [https://crypto.news/understanding-the-security-measures-in-coinbases-multiparty-computation-implementation/](https://crypto.news/understanding-the-security-measures-in-coinbases-multiparty-computation-implementation/) Ordinals 2.0 reduces bloat, brings smart contract-like functionality to inscriptions [https://cryptoslate.com/ordinals-2-0-reduces-bloat-brings-smart-contract-like-functionality-to-inscriptions/](https://cryptoslate.com/ordinals-2-0-reduces-bloat-brings-smart-contract-like-functionality-to-inscriptions/) Chainalysis VP Caroline Malcolm: U.S. Crypto Policy Needs to Accomplish These 3 Things [https://www.coindesk.com/consensus-magazine/2023/06/15/chainalysis-vp-caroline-malcolm-us-crypto-policy-needs-to-accomplish-these-3-things/?mkt\_tok=NTAzLUZBUC0wNzQAAAGMYEOPMDKfbPmbpUrTtNlPqioVkssPK1xR3A3NNFOiblKL1-CfUUmlc-9gawrEhgiszWl-y4OGRI9UH7TgzXAvZ0yUOfqWKE-7y0Rap9l0nx2X](https://www.coindesk.com/consensus-magazine/2023/06/15/chainalysis-vp-caroline-malcolm-us-crypto-policy-needs-to-accomplish-these-3-things/?mkt_tok=NTAzLUZBUC0wNzQAAAGMYEOPMDKfbPmbpUrTtNlPqioVkssPK1xR3A3NNFOiblKL1-CfUUmlc-9gawrEhgiszWl-y4OGRI9UH7TgzXAvZ0yUOfqWKE-7y0Rap9l0nx2X) Op-ed: Three regions poised to benefit from a U.S. crypto exodus [https://cryptoslate.com/op-ed-three-regions-poised-to-benefit-from-a-u-s-crypto-exodus/](https://cryptoslate.com/op-ed-three-regions-poised-to-benefit-from-a-u-s-crypto-exodus/) The AI Boom Has Silicon Valley on Another Manic Quest to Change the World [https://www.bloomberg.com/news/features/2023-06-15/silicon-valley-hopes-ai-hype-can-lead-to-another-tech-boom](https://www.bloomberg.com/news/features/2023-06-15/silicon-valley-hopes-ai-hype-can-lead-to-another-tech-boom) ![](https://storage.googleapis.com/papyrus_images/dbcfee3c28a65240b135d18a3a5262d265e646253b9be56f72af65f4c37a9f39.png) --- *Originally published on [Coinweb.io](https://paragraph.com/@rukawin/the-coinweb-weekly-spin-10)*