Daily Digest - 9 June 2023

Headlines

▌Gensler: Issuers of encrypted securities need to register their offers and sales of investment contracts with the SEC, or meet exemption requirements

Gary Gensler, chairman of the United States Securities and Exchange Commission (SEC), countered Coinbase’s argument, and stated that “we have flexible rules on the disclosure information required in the registration statement. Therefore, issuers of encrypted securities need to register their offers and sales of investment contracts with the SEC, or meet the exemption requirements.”

▌CZ denies receiving $12 billion in Binance.US user funds

Binance CEO Changpeng Zhao disputed the SEC’s claims on June 8 and denied that Binance.US received $12 billion in U.S. customer funds.

“This is completely wrong, as far as I know, Binance.US has a total of about 2 billion US dollars in user funds.”

Policies

▌The U.S. Financial Services Commission’s draft digital asset market framework involves NFT, which focuses on analysing risks and advantages

According to U.S. trademark and copyright attorney NeerMcD.eth on social media, Patrick McHenry, chairman of the U.S. House of Representatives Financial Services Committee, and Glenn “GT” Thompson, chairman of the House Agriculture Committee,

There are NFT-related content in the jointly released digital asset market framework discussion draft, which analyses the risks associated with NFT (including intellectual property rights), and also studies other related content, including the advantages of NFT digital assets (such as verifiable digital ownership), whether (and how) NFT digital assets can be integrated with “traditional markets” including music, real estate, gaming, events, and travel, and blockchain interoperability.

Blockchain application

▌NFT Inspect Launches New PFP Search Tool for Twitter

NFT Inspect has launched a new Chrome browser extension that provides real-time data on popular NFT collections of Twitter profile pictures (PFPs). It allows users to search for different ways NFTs are being used on Twitter, whether shared as a profile picture or as a tweet. The tool can also analyze individual wallet addresses by crawling publicly available blockchain data to determine the usage of any NFTs in the wallet. The browser extension can also reveal rare features of a single NFT.

Cryptocurrency

▌Bitcoin holdings on exchanges have shown net outflows for three consecutive days

According to Glassnode data, the exchange’s bitcoin holdings have shown a net outflow for three consecutive days, of which June 7 set the second largest single-day bitcoin exchange outflow of the year, about 15,000.

As of now, the total Bitcoin holdings on the exchange are about 2.292 million BTC, which is about 8,000 less than the beginning of 2023, but the price of Bitcoin has increased by about 60% compared to the beginning of the year.