Top crypto tweets of the day – June 5th

Bloomberg reported that the US SEC Sues Binance and CEO Zhao of Breaking US Securities Rules. https://t.co/d4blJA2chv

Earlier, the U.S. CFTC sued Binance and its CEO Zhao for violating U.S. derivatives rules. Today's media sources speculate that Binance may change its CEO.

— Wu Blockchain (@WuBlockchain) June 5, 2023

4.

Our team is all standing by, ensuring systems are stable, including withdrawals, and deposits.

We will issue a response once we see the complaint. Haven't seen it yet. Media gets the info before we do.

🙏

— CZ 🔶 Binance (@cz_binance) June 5, 2023

Binance responsed: we have engaged in extensive good-faith discussions to reach a negotiated settlement.  But SEC abandoned that process and instead chose to act unilaterally and litigate. We stand with digital asset market participants in the U.S. in opposition to the SEC’s… https://t.co/ysMYBku3mH

— Wu Blockchain (@WuBlockchain) June 5, 2023

Binance: Any allegations that user assets on the BinanceUS platform have ever been at risk are simply wrong. All user assets on Binance and Binance affiliate platforms, including BinanceUS, are safe and secure, and we will vigorously defend against any allegations to the…

— Wu Blockchain (@WuBlockchain) June 5, 2023

According to 0xScope, after the SEC sued Binance, Binance’s reserve assets had a net outflow of approximately US$1.4 billion within 1 hour (14-15 UTC, June 5), accounting for 2.6% of its total reserve assets of US$52.9 billion.https://t.co/OLm0ZvOgrZ

— Wu Blockchain (@WuBlockchain) June 5, 2023

Binance liquidity now just flat out disappears? https://t.co/ScdpPHOZfd

— Adam Cochran (adamscochran.eth) (@adamscochran) June 5, 2023

With respect to Binance, I'm reading through the SEC complaint. It's over 130 pages, but seems like the next in a series of steps to implement chokepoint 2.0 in the United States. The end goal is a agenda based CBDC partnered with a handful of massive banks and end-to-end control…

— Charles Hoskinson (@IOHK_Charles) June 5, 2023

Affected by the SEC lawsuit against Binance, both Bitcoin and Ethereum fell by more than 4% within 1 hour; BNB fell by 8.4%; CFX PEPE MANA FIL ICP CHZ SAND NEAR OP and some other tokens fell by more than 10%; the amount of liquidation in one hour Has exceeded 215 million US…

— Wu Blockchain (@WuBlockchain) June 5, 2023

SEC claims that these crypto assets – SOL, ADA, MATIC, FIL, ATOM, SAND etc are all securities

They also claim that CZ admitted: “We are operating a fking unlicensed securities exchange in the USA bro”

Other claims include commingling funds, Artificially inflating trading… pic.twitter.com/37XoMfgtUy

— borovik.eth (@3orovik) June 5, 2023

The SEC accused Binance US of providing trading for securities such as BNB, BUSD, SOL, ADA, MATIC, FIL, ATOM, SAND, MANA, ALGO, AXS, and COTI. https://t.co/bGOZdbccuh pic.twitter.com/3pzzjAo9xl

— Wu Blockchain (@WuBlockchain) June 5, 2023

GIBRALTAR-BASED BANK XAPO LAUNCHES USD ACCOUNTS ON TETHER RAILS INSTEAD OF SWIFT

We are going to see more of this. Tether improves on the banking system.https://t.co/oqRgZ7ERQc

— Gabor Gurbacs (@gaborgurbacs) June 5, 2023

BTC and ETH’s long-term volatility, which has been steadily declining since Nov 2022, just hit its lowest level in more than two years. Kaiko research.

While ETH has historically been more volatile than BTC, the gap between the two assets’ volatilities has also decreased… pic.twitter.com/LU0slOZFZ6

— Wu Blockchain (@WuBlockchain) June 5, 2023

$BNB market depth on Binance has more than halved since news of the SEC lawsuit.

Interestingly, depth started to drop a few hours before the official announcement 👀 pic.twitter.com/ZJ6Spxb6Iu

— Kaiko (@KaikoData) June 5, 2023

Jeffrey Wilcke, one of the Ethereum co-founders, just sent 22k ETH to Kraken.

First time selling ETH in 2 years pic.twitter.com/H0VhsiKvL4

— R🐮 (@Riley_gmi) June 5, 2023

BREAKING:

Atomic Wallet had a malicious update that sent your private keys to an attacker once you open the app. People now believe it’s a scam by the developers.

— Whale (@WhaleChart) June 5, 2023

#PeckShieldAlert @zachxbt has uncovered a security breach in @AtomicWallet. In the latest update, it was revealed that over $35M worth of cryptos from various chains, including #BTC, #TORN, #Ethereum, and others were stolen.https://t.co/ylq2nA1Rcb
Exploiter 0xd290…30f, who… pic.twitter.com/YqH3FXffQT

— PeckShieldAlert (@PeckShieldAlert) June 5, 2023

Debt Ceiling raised, $1T in new bonds to hit the market.

But who’s going to buy them?

Over the past decade, foreign central banks transitioned from adding to their US Treasury holdings to becoming net sellers, reducing their stake by $564B since June 2021.

Answer – The Fed.

— The Wolf Of All Streets (@scottmelker) June 4, 2023