SEC Signals Softer Stance on DeFi Development

SEC and CFTC latest statements on crypto

Speaking to DeFi experts during the “DeFi and the American Spirit” roundtable Monday (June 9), SEC Chairman Paul Atkins said industry developers should not be blamed for how their tools are used, according to a transcript of his remarks. DeFi tokens UNI, AAVE and SKY all rose by more than 20% on such optimistic comments.

Full transcript at:

https://www.sec.gov/newsroom/speeches-statements/atkins-remarks-defi-roundtable-060925

CFTC's acting chair, Caroline Pham stated “There is no easy street for anybody, and regulators aren’t easy,” “Just because we are pro-innovation and pro-growth does not mean that you’re going to be able to get away with breaking the law.” “And this is where I’m talking about not twisting the law to criminalize an asset class or a technology, but I’m talking about lying, cheating, and stealing.”

It's obvious that the Trump administration has a more relaxed attitude to crypto, there's less restriction and penalty to innovations, but any fraud or criminal will not be tolerated.

Coinbase credit card and Coinbase business launch

Coinbase is launching the Coinbase One Card, allowing users to earn up to 4% bitcoin back on every purchase. The Coinbase One Card will be available to Coinbase One members in the US and is powered by the American Express Network.

Coinbase Business is your crypto operating account – a secure, compliant platform for startups and small businesses to send and receive payments, manage crypto assets, and automate financial workflows in one place. It offers a no-fee, self-serve application with approvals for businesses in as little as two days.

Coinbase is boosting is real world application. Also, the more users, the bigger buying power of BTC.

See details: https://www.coinbase.com/creditcard & https://www.coinbase.com/blog/introducing-coinbase-business-the-all-in-one-financial-platform-for-modern-companies

ZKJ and KOGE crash

With Binance Alpha point scheme, recently everyday there are huge trading volume on ZKJ and KOGE as its stable price and scoring contribution. Also Binance Alpha made an Alpha Earn that encouraged users to contribute liquidity into ZKJ and KOGE LP with 300%-500% annualized return.

Then on Sunday both coins crashed - below is ZKJ:

Analysis from SEC Signals Softer Stance on DeFi Development (https://x.com/ai_9684xtpa/status/1934249059801584050 ) said it's first KOGE then ZKJ because ZKJ has much higher liquidity both on DEX and CEX spot+perp, and the trigger is highly likely that Binance Alpha point incentive gets a lot less than before (from 100 USDT to 50 USDT).

After all Binance made a statement that trading volume of trading pairs between Alpha tokens will no longer count towards Alpha Points calculation. This is such a weak statement that traders should realize that Binance is facing a huge challenge in maintain such game, and participating means uncertainty of making or losing money.

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