The ongoing legal battle between Ripple Labs and the United States Securities and Exchange Commission (SEC) has become a major talking point in the cryptocurrency world. This lawsuit, which began in 2020, could set a precedent for how digital assets are regulated in the future. Let’s dive into the details and understand what’s at stake.Think about how this can affect the regulations around coins in the future for a minute. How will the SEC look at the celebrity meme coin meta of today?

FOMC dot plot the likely cause of US$600m outflows

Stablecoins have emerged as a foundational pillar within decentralized finance (DeFi), providing access to a fast, efficient, borderless, and stable way to transfer value on the internet. Among the plethora of decentralized stablecoin projects, one stands out for its innovative approach and groundbreaking advancements: $crvUSD.

Coinglass data shows that the total open position of BTC futures contracts on the network is 522,800 BTC, equivalent to approximately 34.729 billion US dollars.

The official transparency page of Tether, the stablecoin issuer, shows that the authorized issuance of USDT on the TON chain has exceeded $580 million and is still the sixth largest blockchain for USDT issuance, behind only Tron ($59.8 billion), Ethereum ($52 billion), Solana ($1.9 billion), Avalanche ($1.3 billion), and Omni ($888 million).

According to Coinglass data, the total amount of liquidations in the past 24 hours was $43.1 million, with long positions liquidated at $24.02 million and short positions liquidated at $19.08 million. Of these, the amount of BTC liquidations was $4.88 million, ETH liquidations were $9.1 million, and NOT liquidations were $2.64 million.

According to Dune data, Jinse Finance reported that there are currently 983,424,273 PYTH tokens in a pledged state, with a total pledged value of over $347 million. The number of PYTH pledge holders has reached 138,251.

On June 17th, it was reported by Cointelegraph that cryptocurrency startups have raised over $100 billion since the end of May 2014. Despite facing regulatory uncertainty and market volatility, the upper and lower limits of financing in the industry have both increased over the past four years. According to DefiLlama data, as of June 16th, 2024, the total amount of financing in the cryptocurrency industry reached $101.35 billion. Looking back to May 2014, the first month of financing for industry startups was only $17.14 million. In May 2024, ten years later, monthly financing increased to $280.25 million, which is higher than ten years ago but far lower than the previous month's $777.11 million.

According to data from the Curve website shows that the native stablecoin crvUSD has been minted over 131 million times, with a total value of collateral based on WBTC of $83.69 million, collateral based on wstETH of $48.98 million, collateral based on ETH of $69.88 million, and collateral based on sfrxETH V2 of approximately $18.94 million.

According to data from the Curve website shows that the total amount of crvUSD stablecoins minted has exceeded 131 million, with a current count of 131,341,895. Among them, the value of collateral based on WBTC is 83.69 million US dollars, the value of collateral based on wstETH is 48.98 million US dollars, the value of collateral based on ETH is 69.88 million US dollars, and the value of collateral based on sfrxETH V2 is approximately 18.94 million US dollars.