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In today's episode, we'll cover Kraken's high share in USD spot trading since January
2018, and the US government's objection to BitTrex's customer repayment plan.
Today we have a lot of news in the world of cryptocurrency.
The UK's FCA is rolling out stricter rules for crypto ads, which includes a referral
bonus ban.
Meanwhile, Kraken is becoming a more dominant player among exchanges that offer trading
in USD pairs, accounting for 20% of the spot volume in the USD crowd in May.
In other news, Binance lawyers alleged that SEC chair Gensler offered to serve as an advisor
to a crypto company back in 2019, while BitTrex's customer repayment plan is facing opposition
from the US government.
On a positive note, BitGo has reached a preliminary agreement to buy PrimeTrust.
However, in May, the spot trading volume on centralized exchanges fell 21.8% to $495
billion, the lowest monthly volume since March 2019.
Binance.
US has suspended USD deposits and paused fiat withdrawal channels, and Robinhood has ended
support for Solana, Polygon, and Cardano.
The Department of Justice has charged two Russian nationals with laundering over 600,000
BTC stolen from Maunet Gox.
Meanwhile, Crypto.com has suspended US institutional exchange service, and BTC market depth on
Binance US has collapsed in recent days.
In legal news, the CFTC has won the Ukidau case, setting a precedent that DAOs can be
held liable and the FTX customer names will not be revealed by the bankruptcy court.
Amidst all the regulatory upheavals, Arbitrum continues to dominate the Layer 2 landscape
and is the top destination for capital flowing away from Ethereum.
Also, over 50% of BTC on exchanges have moved outside the US due to regulatory uncertainty.
In other news, Vitalik Buterin has donated another $100 million to support COVID relief
projects.
Lastly, the Russian's largest bank has announced that they will allow crypto trading this summer,
and Deputy Chairman Popov said the offering could be introduced to clients by the end
of June.
There's a lot happening in the world of cryptocurrency, and will keep you updated with the latest
news and trends.