# The Coinweb Weekly Spin

By [Coinweb.io](https://paragraph.com/@rukawin) · 2023-06-06

---

\*\*The Weekly Spin. _Fifth Edition._ \*\*Well, the SEC started the week off with a “bang” with enforcement actions on Binance as well as a few other notable claims of “unregistered securities'' declarations on other cryptocurrencies and sent the market into a downward spiral – as of this writing, Bitcoin is down almost 5% to under the $26k support level and BNB has suffered about 10% losses and is currently trading under $280. Some stats show that over 119k crypto traders were liquidated in the past 24hrs for a combined loss of over $300m. There should be a class-action lawsuit against Mr. Gensler for having the ability to cause all this damage to the industry. However, Bitcoin has been trading sideways for quite some time now and perhaps this is the catalyst or correction we’ve all been waiting for…

This week we released another edition of “The Coinweb Monthly Spin,” which offers a bird’s eye view of things happening in and around the Coinweb community. The Alpha Tester Program applications have been flowing in, and the weekly meme competition has awarded a handful of talented contributors over the past few weeks. The monthly Coinweb event was a blast, hosting a wide range of very high caliber guests and breaking records on many fronts in terms of attendance and other KPIs. A podcast featuring Toby Gilbert hosted by Contango was released, and our very own Maksym Surzhynskyi took the stage in one of Central Europe’s most prominent conferences of the year at the Lublin Central European Forum.

Apple announced its $3.5k AR headset as anticipated at the WWDC 2023’, Optimism’s Bedrock upgrade is scheduled to occur today, and Japan’s number one airline ANA announces an NFT marketplace. China released another announcement regarding blockchain technology, this time in collaboration with TenCent. El Salvador’s Bitcoin mining “volcano” gets closer to completion. And in TL today, we have the UK on Universal Basic Income (UBI), the Lightning Network, AI Governance, and the first “Consensus on Consensus” report on one of the biggest crypto-native events of the year… 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 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)

\*\*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

[https://open.spotify.com/episode/3QW9iSHaVsMRIGlRo5msyS?si=jBV58G5kQUOhVDrbFyLg0A&nd=1](https://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**

\*\*Apple Worldwide Devcon, Jun 5 (Cupertino) Optimism Bedrock Upgrade, Jun 6 (Layer 2) \*\*Crypto Expo Asia, Jun 7-8 (Singapore) Non Fungible Conference, Jun 7-9 (Lisbon) **FOMC Meeting and** \*\*Core CPI Inflation Data Report, Jun 13-14 (Washington DC) \*\*AIBC Asia, Jul 19-22 (Manila)

**TOKEN2049, Sep 13-14 (Singapore)**

\*\*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)**

Binance and CZ sued by SEC for breaching securities law [https://cryptoslate.com/binance-and-cz-sued-by-sec-for-breaching-securities-law/](https://cryptoslate.com/binance-and-cz-sued-by-sec-for-breaching-securities-law/)

Crypto Traders Suffer $320M Losses in Liquidations as SEC Lawsuit Against Binance Spurs Market Plunge [https://www.coindesk.com/markets/2023/06/05/crypto-traders-suffer-320m-losses-in-liquidations-as-sec-lawsuit-against-binance-spurs-market-plunge/](https://www.coindesk.com/markets/2023/06/05/crypto-traders-suffer-320m-losses-in-liquidations-as-sec-lawsuit-against-binance-spurs-market-plunge/)

Do Kwon out on bail under house arrest after successful appeal [https://cryptoslate.com/do-kwon-out-on-bail-under-house-arrest-after-successful-appeal/](https://cryptoslate.com/do-kwon-out-on-bail-under-house-arrest-after-successful-appeal/)

Looming June FOMC meeting roils Bitcoin market [https://cryptoslate.com/insights/looming-june-fomc-meeting-roils-bitcoin-market/](https://cryptoslate.com/insights/looming-june-fomc-meeting-roils-bitcoin-market/)

\*\*

Competitive Landscape\*\*

Apple unveils hotly-anticipated AR/VR headset Apple Vision Pro at WWDC for $3,499 [https://cryptoslate.com/apple-unveils-hotly-anticipated-vr-headset-apple-vision-pro-at-wwdc/](https://cryptoslate.com/apple-unveils-hotly-anticipated-vr-headset-apple-vision-pro-at-wwdc/)

Optimism 'Bedrock' Upgrade to Speed Confirmations, Cut Gas Fees, Set Path to 'Superchain' [https://www.coindesk.com/tech/2023/06/05/optimism-bedrock-upgrade-to-speed-confirmations-cut-gas-fees-set-path-to-superchain/](https://www.coindesk.com/tech/2023/06/05/optimism-bedrock-upgrade-to-speed-confirmations-cut-gas-fees-set-path-to-superchain/)

Japan's Largest Airline Group ANA Launches NFT Marketplace [https://www.coindesk.com/web3/2023/06/01/japans-largest-airline-group-ana-launches-nft-marketplace/](https://www.coindesk.com/web3/2023/06/01/japans-largest-airline-group-ana-launches-nft-marketplace/)

The PulseChain Sideshow Tent Is Collapsing [https://www.coindesk.com/consensus-magazine/2023/05/31/the-pulsechain-sideshow-tent-is-collapsing/](https://www.coindesk.com/consensus-magazine/2023/05/31/the-pulsechain-sideshow-tent-is-collapsing/)

Apple and Goldman Sachs Don’t Trust Their New Banking Customers [https://www.coindesk.com/consensus-magazine/2023/06/02/apple-and-goldman-sachs-dont-trust-their-new-banking-customers/](https://www.coindesk.com/consensus-magazine/2023/06/02/apple-and-goldman-sachs-dont-trust-their-new-banking-customers/)

**US. Coordinated Regulation Failures**

Binance.US deems SEC lawsuit ‘baseless’; plans to defend self [https://cryptoslate.com/binance-us-deems-sec-lawsuit-baseless-plans-to-defend-self/](https://cryptoslate.com/binance-us-deems-sec-lawsuit-baseless-plans-to-defend-self/)

TRON’s Justin Sun, Cardano’s Charles Hoskinson side with Binance in SEC case [https://cryptoslate.com/trons-justin-sun-cardanos-charles-hoskinson-side-with-binance-in-sec-case/](https://cryptoslate.com/trons-justin-sun-cardanos-charles-hoskinson-side-with-binance-in-sec-case/)

The Ethereum Question: Why does the SEC avoid taking action against Ethereum when all else are fair game? [https://cryptoslate.com/the-ethereum-question-why-does-the-sec-avoid-taking-action-against-ethereum-when-all-else-are-fair-game/](https://cryptoslate.com/the-ethereum-question-why-does-the-sec-avoid-taking-action-against-ethereum-when-all-else-are-fair-game/)

**World**

How Can VASPs Ensure Travel Rule Compliance on Transactions Involving Unhosted Wallets? [https://blog.chainalysis.com/reports/travel-rule-compliance-unhosted-wallets/](https://blog.chainalysis.com/reports/travel-rule-compliance-unhosted-wallets/)

China releases first national standard for blockchain technology to accelerate development [https://www.globaltimes.cn/page/202306/1291823.shtml](https://www.globaltimes.cn/page/202306/1291823.shtml)

El Salvador’s Bitcoin Volcano in sight [https://cryptoslate.com/el-salvadors-bitcoin-volcano-in-sight/](https://cryptoslate.com/el-salvadors-bitcoin-volcano-in-sight/)

UK group suggests ‘Crypto Tsar’ role to coordinate regulation among departments [https://cryptoslate.com/uk-group-suggests-crypto-tsar-role-to-coordinate-regulation-among-departments/](https://cryptoslate.com/uk-group-suggests-crypto-tsar-role-to-coordinate-regulation-among-departments/)

Speculation mounts on Central Asian country to announce Bitcoin treasury holding [https://cryptoslate.com/speculation-mounts-on-central-asian-country-to-announce-bitcoin-treasury-holding/](https://cryptoslate.com/speculation-mounts-on-central-asian-country-to-announce-bitcoin-treasury-holding/)

**Thought Leadership**

Is UBI coming for the United Kingdom? [https://cryptoslate.com/insights/is-ubi-coming-for-the-united-kingdom/](https://cryptoslate.com/insights/is-ubi-coming-for-the-united-kingdom/)

The Lightning Network Doesn’t Fix Everything Wrong With Bitcoin [https://www.coindesk.com/consensus-magazine/2023/06/05/the-lightning-network-doesnt-fix-everything-wrong-with-bitcoin/](https://www.coindesk.com/consensus-magazine/2023/06/05/the-lightning-network-doesnt-fix-everything-wrong-with-bitcoin/)

What AI Governance Can Learn From Crypto’s Decentralization Ethos [https://www.coindesk.com/consensus-magazine/2023/06/02/what-ai-governance-can-learn-from-cryptos-decentralization-ethos/](https://www.coindesk.com/consensus-magazine/2023/06/02/what-ai-governance-can-learn-from-cryptos-decentralization-ethos/)

Introducing CoinDesk’s First-Ever ‘Consensus @ Consensus’ Report [https://www.coindesk.com/consensus-magazine/2023/06/05/introducing-coindesks-first-ever-consensus-consensus-report/](https://www.coindesk.com/consensus-magazine/2023/06/05/introducing-coindesks-first-ever-consensus-consensus-report/)

![](https://storage.googleapis.com/papyrus_images/1b393ff9a5d37f22f566a124f478add2916dc9648d3e72791445a1c3e455423f.png)

---

*Originally published on [Coinweb.io](https://paragraph.com/@rukawin/the-coinweb-weekly-spin-8)*