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Bitcoin, stocks and the markets started the week with a cautious note. Bitcoin fell below $27,000 again on Saturday. It is now slightly lower than it was 24 hours ago at $26,800. The news comes just as U.S. president Joe Biden and House Republican speaker Kevin McCarthy meet on Monday to talk about the debt ceiling. Tron TRX gained 8% in one day, as a Twitter rumor spread that Tron would become legal tender on June 1st.

Digital Currency Group (DCG), according to Gemini, missed a $630m payment due to Gemini. Both firms have been accused by the U.S. Securities and Exchange Commission of selling unregistered security through their Earn program. DCG owns both Genesis and CoinDesk. Gemini, along with other parties, are proposing a revised reorganization scheme for Genesis that does not require DCG approval. Gemini announced this in an post on its website.

Securities Commission Malaysia has ordered Huobi Global, a digital assets exchange, to stop operating in Malaysia. This includes disabling their website and mobile apps. The Capital Markets and Services Act makes it illegal to operate a digital exchange without first obtaining the Securities Commission’s recognition as a Recognised Market operator.

Chart of the Day

CoinDesk - Unknown

  • The chart shows the daily fluctuations in bitcoin supply controlled wallets that have held coins for atleast a year, and its price since June 20, 2022.
  • The so-called long term investors’ balance is rapidly approaching a new record of 13,2 million BTC.
  • According to blockchain data firm IntoTheBlock the accumulation reflects unwavering confidence in cryptocurrency’s future.

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Stephen Alpher edited the book.