FameEX Morning Crypto News Recap | June 16, 2023

BlackRock Seeks Approval for Revolutionary Bitcoin ETF in the United States
BlackRock, the global investment giant, seeks approval for a Bitcoin spot ETF in the US. The potential approval would not only make it the first cryptocurrency spot ETF in the country but also represent a major milestone in the wider acceptance and utilization of digital currencies.

Federal Reserve and SEC Probe Goldman Sachs for Silicon Valley Bank's Securities Portfolio
Goldman Sachs faces scrutiny from the Federal Reserve and SEC for suspected irregularities in its purchase of Silicon Valley Bank's securities portfolio. The investigation centers on obtaining evidence regarding Goldman's dual role as the buyer and capital raiser for the bank, examining potential improper communications between its investment banking and trading divisions throughout the transaction.

EU Regulatory Body Commences MiCA Consultation from July Onwards
The Federal Reserve and SEC are scrutinizing Goldman Sachs for potential inappropriate communications between its investment banking and trading divisions during the acquisition of Silicon Valley Bank's securities portfolio. The investigation centers on obtaining documents regarding Goldman's dual role as the buyer of the portfolio and advisor for the bank's capital raise.

Insolvency of Crypto Firm Abra Revealed in Cease-and-Desist Order by Texas State Regulators
Abra, a cryptocurrency firm, faces insolvency as indicated by an emergency cease-and-desist order from the Texas State Securities Board. State securities regulators have been investigating Abra, and its founder, William Barhydt, was interviewed by a working group in March 2023.

Republicans on House Financial Services Committee Accuse SEC Chair Gensler of Advocating Personal Views on Digital Assets in Proposed Rule
Republicans on the House Financial Services Committee have accused SEC Chair Gary Gensler of pushing his personal views on cryptocurrency assets through proposed Rule 3b-16 amendments. In a letter to the SEC, they raise concerns about the new definition of "exchange" and its potential ramifications.

Stablecoin Market Observes $2.4B in Redemptions within 30 Days as Leading Tokens Experience Decreased Supply
Over a 30-day span from May 15 to June 15, 2022, the stablecoin market saw more than 2.4 billion redemptions. Within this period, three prominent stablecoins experienced a decline in supply, ranging from 4% to 19% compared to the previous month.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.