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Binance.US Suspends USD deposits

Binance.US Suspends USD deposits

Get today's top crypto news: Binance.US, Arbitrum's Norway progress, ARK Invest's major purchase, OKX's token burn, and Kraken's NFT update.

Hello all! We're excited to welcome you back to the final Datawallet newsletter of the week, your trusted source for cryptocurrency news and insights. 

Today's itinerary is packed (again) with crucial regulatory news updates that have been influencing the contours of the crypto world.

  • Binance.US suspends USD deposits
  • Arbitrum onboards Norway’s digital Krone
  • ARK Invest buys $19.9 million Block shares
  • OKX burns $244 million of its exchange token
  • Kraken NFT exits beta

Binance.US suspends USD deposits

Late on Thursday, BinanceUS announced that its financial associates may cease processing its US dollar transactions as soon as the day a federal judge listens to arguments regarding a provisional restraining order on the American trading subsidiary.

This news follows the recent revelation of a lawsuit filed by the Securities and Exchange Commission against the company, in addition to the cryptocurrency exchange behemoth Binance and its CEO, Changpeng Zhao. Although the SEC aims to freeze BinanceUS' assets, it has also requested the court to sanction a temporary restraining order, enabling BinanceUS to keep processing withdrawal demands from its clients.

Arbitrum onboards Norway’s digital Krone

Arbitrum, a top-tier Ethereum Layer 2 scaling solution, is significantly progressing in broadening its ecosystem by integrating Norway's digital currency and incorporating native compatibility with Circle's USDC stablecoin.

Symfoni Solutions, a group that enables digital communication between government services, revealed on Tuesday the initiation of a connection between Norway's central bank digital currency (CBDC) and BRØK, a platform built on Arbitrum for monitoring and handling shareholder information of private firms.

ARK Invest buys $19.9 million Block shares

Cathie Wood's Ark Investment has bought approximately $20 million in Block shares, demonstrating the company's strong dedication to cryptocurrency. 

Data from ARK Invest Daily Trades reveals that between June 7-8, ARK Invest secured a total of 305,573 Block shares through six separate transactions, making it the fourth largest holding in ARK's portfolio at 4.81%.

OKX burns $244 million of its exchange token

The digital currency platform OKX has conducted its most significant repurchase and burn of its native currency, OKB, since initiating the monthly scheme.

User @sankin gathered on-chain information from Dune, which showed that approximately 5.5 million tokens, valued at around $244 million, were eliminated from the token's circulation. OKX asserts that the burn's worth was close to $258 billion, based on a 90-day average price calculation.

Kraken NFT exits beta

Kraken, a cryptocurrency exchange, has declared that its NFT (nonfungible token) marketplace is no longer in the beta stage. With this launch, the NFT platform emphasized the growth of its NFT collections, increasing from 70 to more than 250. Kraken stated its plans to keep incorporating additional collections to the marketplace.

Other breaking news

  • Enjin Blockchain live
  • Metronome live on Optimsim
  • Native USDC live on Arbitrum
  • SudoSwap V2 live
  • PoolTogether lawsuit dismissed by US judge

Wrapping up

There it is, folks, another Datawallet newsletter, the last for this week. Kraken has made it out of beta, while OKX burns a huge sum of tokens. ARK meanwhile keeps on investing in Web3, while Binance.US suspends USD deposits. Stay informed and ahead of the game with our daily crypto scoop. See you next week!