DeFi Development Corp. has withdrawn its planned $1 billion securities offering after the U.S. Securities and Exchange Commission deemed the company ineligible to file under Form S-3. The company confirmed the withdrawal in a June 11 letter to the SEC,…

SEC blocks DeFi Development’s $1B Solana plan, company withdraws S-3 filing

Marking a major reversal of Biden-era policy, the U.S. Securities and Exchange 
Commission has withdrawn key measures targeting crypto custody and 
decentralized exchanges. On Thursday, the commission confirmed it was formally 
rescinding 14 proposed rules introduced between March 2022 and…

SEC scraps controversial rules targeting DeFi platforms and crypto custodians under Biden

KuCoin enters the Thai market with a fully licensed exchange after acquiring 
ERX, Thailand’s first SEC-supervised digital token platform.

KuCoin expands into Thailand with SEC-approved exchange

Ripple and the U.S. Securities and Exchange Commission have jointly proposed a 
settlement that would split a $125 million civil penalty, potentially ending 
one of the longest-running legal battles in the crypto industry. According to 
a June 12 court filing…

Ripple and U.S. SEC jointly propose $125M settlement split to end XRP lawsuit

On-chain data shows Ethereum has just witnessed its largest daily withdrawal 
in over a month, a sign that may turn out to be bullish for the asset&#8217;s price. 
Ethereum Has Recently Seen Notable Exchange Outflows As explained by the 
institutional DeFi solutions provider Sentora (formerly IntoTheBlock) in a new 
post on X, a large amount of Ethereum has left exchanges. The on-chain 
indicator of interest here is the &#8220;Exchange Netflow,&#8221; which measures the net 
amount of ETH entering into or exiting out of the wallets associated with 
centralized exchanges. When the value of this metric is positive, it means the 
exchanges are receiving a net number of deposits. As one of the main reasons 
why investors deposit their tokens to these platforms is for selling-related 
purposes, this kind of trend can have a bearish implication for the ETH price. 
Related Reading: Tron Has Plenty Of Room For A 2025 Bull Run, Risk Metric 
Signals On the other hand, the indicator being below zero suggests the 
exchange outflows outweigh the inflows. Such a trend can imply the holders are 
accumulating, which can naturally have a bullish effect on the asset. Now, 
here is the chart shared by Sentora that shows the trend in the Ethereum 
Exchange Netflow over the past month: As displayed in the above graph, the 
Ethereum Exchange Netflow has seen a sharp negative spike during the past day, 
which suggests the investors have withdrawn a significant amount of the 
cryptocurrency. In total, the exchanges have handled net outflows of more than 
140,000 ETH (worth about $390 million) with this withdrawal spree. This is the 
largest single-day exit that these platforms have faced in over a month. These 
outflows have come as Ethereum has been attempting a breakout from its month- 
long range. As such, it&#8217;s possible that a portion of the large holders of the 
market have some level of confidence in this rally. In some other news, the 
cash-margined Ethereum Futures Open Interest has set a new all-time high, as 
the on-chain analytics firm Glassnode has revealed in an X post. The Futures 
Open Interest is an indicator that measures the total amount of positions 
related to Ethereum that are currently open on all derivatives platforms. 
Here, the &#8216;cash-margined&#8217; Open Interest is of relevance, which includes all 
the contracts that have fiat/stablecoins as collateral. Related Reading: 
Bitcoin Options Traders Expect Quiet—But On-Chain Data Suggests Chaos From the 
chart, it&#8217;s apparent that this metric has recently seen some rapid growth and 
has achieved a new record of about $20 billion. &#8220;Despite a slight pullback 
from the $2.8K levels, leverage continues to build as traders load up using 
stablecoins,&#8221; notes Glassnode. ETH Price Ethereum crossed beyond the $2,800 
level earlier, but it appears it has seen a setback as its price is back at 
$2,750. Featured image from Dall-E, Glassnode.com, IntoTheBlock.com, chart 
from TradingView.com

$390M In Ethereum Leaves Exchanges—Biggest Daily Exit In Over A Month

WBT, the utility token of the crypto exchange WhiteBIT, emerged as the top- 
performing coin today, defying the broader bearish market trend triggered by 
Israel’s attack on Iran earlier today. According to data from crypto.news, 
WhiteBIT Coin (WBT) rallied for the…