Nfts
Crypto NFT Today: June Week 2
Welcome to another edition of Crypto NFT Today! The last two weeks have been full of unmissable events that will determine the future of blockchain, cryptocurrency and NFTs.
With the crypto market declining despite a recent recovery, Terraform Labs paying to resolve its dispute with the SEC, and more, there’s a lot of essential news you should know. So let’s go ahead and see what happens!
Crypto Market Is Down Despite Recent Recovery
Despite many uncertainties, the crypto market performed well, even bullish, through June 12. After a period of recovery last month and positive US employment data, the market has stabilized. The U.S. government added 272,000 jobs in May, far exceeding expectations and forecasts. However, ongoing political changes and other factors have led to a deterioration in market conditions.
Terraform Labs pays to resolve SEC dispute
The Securities and Exchange Commission has requested court approval for a final consent judgment in its case against Terraform Labs and its former CEO, Do Kwon.
Wednesday’s filing reveals a deal between the U.S. securities regulator and Terraform Labs, demanding a payment of nearly $4.5 billion from the former stablecoin issuer. This includes approximately $3.5 billion in restitution, more than $460 million in prejudgment interest and $420 million in civil penalties.
Trump shows support for crypto mining industry
Donald Trump has reaffirmed its support for the Bitcoin mining industry after hosting a meeting with several US crypto mining company executives.
In a June 11 post on Trump-owned Truth Social, the presidential candidate expressed his desire for “all remaining Bitcoin to be MADE IN THE USA!!! » and claimed that this would contribute to the country becoming “energy dominant”.
New information on past crypto hacks
The cryptocurrency industry has seen 785 reported hacks and exploits over the past 13 years. According to a Crystal Intelligence Report shared with Cointelegraph, nearly $19 billion in digital assets have been stolen since the first known crypto hack on June 19, 2011.
The greatest single crypto theft occurred during the Plus Token fraud of 2019, where attackers stole $2.9 billion worth of Bitcoin and Ether. Over the past two years, the largest crypto heist was the $290 million PlayDapp security breach in February 2024.