Cryptocurrency roundup for June 23: CACEIS enters crypto realm, Ripple approved in Singapore, Binance accuses SEC and more

Cryptocurrency roundup

[content][quote]Market Buzz[/quote][title]French Banking Behemoth CACEIS Earns Regulatory Nod for Crypto Custody Services[/title][body]In a significant development, CACEIS, a key asset servicing division of banking titans Crédit Agricole and Santander, has received the green light from French regulators to offer cryptocurrency custody services.

> As per France's Financial Markets Authority (AMF), CACEIS Bank has been officially registered for this purpose as of Tuesday, June 20, which is confirmed on the regulator's official website.

> CACEIS Bank, a well-established entity serving asset managers including insurers, pension funds, and private equity firms, now stands alongside other major traditional finance players such as Societe Generale's Forge and AXA Investment Managers, who have already been acknowledged under Europe’s progressive crypto regulatory structure.

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[content][quote]Cross-Border Services[/quote][title]Ripple Gains Crucial Regulatory Approval for XRP Cross-Border Services In Singapore[/title][body] In an encouraging development for the cryptocurrency sector, blockchain enterprise Ripple announced on Thursday that it has been provisionally granted regulatory approval to operate in Singapore.

> This achievement stands in stark contrast to the increasing restrictions being placed on the cryptocurrency industry in the United States.

> Ripple revealed that the Monetary Authority of Singapore, the nation's central bank, has bestowed upon it an in-principle approval for a Major Payment Institution Licence.

> This license paves the way for Ripple to offer regulated products and services concerning digital payment tokens. It also bolsters the cross-border transactions of XRP, the cryptocurrency with which Ripple is intimately linked.

> Notably, Ripple’s clientele chiefly comprises banks and financial establishments. [/body][/content]

[content][quote]Binance Hits Back[/quote][title]Legal Motion Claims SEC Misled Public in Crypto Exchange Lawsuit[/title][body]

Attorneys for Binance.US, Binance Holdings Limited, and Changpeng "CZ" Zhao, the CEO of Binance, have accused the U.S. Securities and Exchange Commission (SEC) of deceiving the public through statements made about a securities lawsuit currently in progress.

> The motion, filed on June 21 in the U.S. District Court for the District of Columbia, alleges that the SEC has publicized “misleading” information in a press release on June 17.

> The lawyers are demanding that the SEC adhere to the “applicable rules of conduct.”

> The attorneys are taking issue with a statement made by Gurbir Grewal, the SEC Enforcement Director, in which he insinuated that CZ and Binance are at liberty to "commingle customer assets or divert customer assets as they please."[/body][/content]

[content][quote]Bitcoin’s Turning Tide[/quote][title] Expert Insights on ETF Filings and Accumulation Strategies[/title][body]

As the cryptocurrency market continues to evolve, industry experts are witnessing a significant shift in Bitcoin accumulation patterns.

> The race to secure Bitcoin before the introduction of Exchange-Traded Funds (ETFs) is heating up.

> Cameron Winklevoss, the co-founder of the Gemini cryptocurrency exchange, highlighted the urgency in a recent tweet.

> Winklevoss stated, “The Great Accumulation of bitcoin has begun. Anyone watching the flurry of ETF filings understands the window to purchase pre-IPO bitcoin before ETFs go live and open the floodgates is closing fast. If bitcoin was the most obvious and best investment of the previous decade, this will likely be the most obvious and best trade of this decade.” [/body][/content]

[content][quote]Bitcoin[/quote][title]Bitcoin Takes the Throne: How Dominance Surged Amid Market Uncertainties[/title][body]

Bitcoin has solidified its position as the king of cryptocurrencies, with its dominance in the total market capitalization of cryptocurrencies surpassing 51%.

> This indicates that Bitcoin's market value constitutes over half of the entire $1.1 trillion cryptocurrency market. As per Coingecko's data, Bitcoin’s market capitalization stands robustly at $586.7 billion.

> In a span of six months, Bitcoin has seen its value surge by an impressive 74%.

> The BTC dominance index portrays a positive outlook, suggesting the possibility of further increments.

> The short-term outlook of Bitcoin also appears to be upbeat.

> Since November 27, 2022, Bitcoin's market dominance has escalated by over 10.5%.[/body][/content]

[content][quote]Operational Challenges[/quote][title]BitGo Calls Off Prime Trust Acquisition Amid Operational Challenges for the Latter[/title][body]

Cryptocurrency custody firm BitGo has announced the termination of its intended acquisition of Prime Trust.

> The announcement was made via a tweet from BitGo, indicating that the decision was reached after thorough evaluation and efforts to establish a feasible partnership.

> The tweet read, “After considerable effort and work to find a path forward with Prime Trust, BitGo has made the hard decision to terminate its acquisition of Prime Trust.

> This decision was not made lightly and BitGo remains committed to our mission to deliver trust in digital assets.”

> A mere fortnight ago, BitGo publicized its non-binding letter of intent to acquire Prime Trust.[/body][/content]

[content][quote]Blockchain[/quote][title]V Pappas Exits TikTok: Aiming to Spearhead Blockchain and AI Innovations[/title][body]

The Chief Operating Officer of TikTok, V Pappas, has made public their decision to resign from the position.

> This development was initially conveyed to TikTok's staff through an internal communication, which subsequently made its way to Twitter.

> Pappas expressed a desire to pivot towards ventures that have an entrepreneurial aspect post their departure from TikTok.

> In the adieu message, Pappas highlighted the swift pace of innovation in various technological fields, including blockchain.

> Pappas stated, “TikTok has achieved remarkable successes, and I believe it’s the opportune moment for me to redirect my focus towards the entrepreneurial sphere.[/body][/content]

[content][quote]Impressive Gains[/quote][title]Bitcoin's Stellar Comeback Fuels Memecoin Surge: A Look at Pepe, Dogecoin, and Shiba Inu's Impressive Gains[/title][body]

> On Wednesday, Bitcoin skyrocketed to its loftiest levels since April and brought along memecoins in its exhilarating ascent.

> In the past 24 hours, with Bitcoin flirting with the $30,200 mark, Pepe coin witnessed a meteoric rise of over 50%.

> In the same time span, Dogecoin and Shiba Inu also joined the upward trend with gains of 4.3% and 9.6%, respectively, as per data from CoinMarketCap.

> Furthermore, when examining the week’s performance, the trio - Pepe coin, Dogecoin, and Shiba Inu, displayed remarkable gains of 90%, 8%, and 21% respectively.

> Concurrently, Ether is also experiencing a positive trend, albeit at a more modest pace, trading 0.5% higher, hovering around the 1890 levels.

> Bitcoin, which experienced a slump last week, plummeting below the $25,000 mark for the first time since March, has made a robust comeback this week.

> The flagship cryptocurrency has reasserted its dominance, now constituting over 50% of the total cryptocurrency market.[/body][/content]