Sat - 10 June

10 June 11 AM

Good Morning & Happy Saturday! As always you can find your referral links at the bottom 🫡.

Headlines for today: JPMorgan Partners with 6 Indian Banks on Blockchain-Based Interbank Dollar Transactions, SEC Sues Binance, Louis Vuitton Releases $42,000 Physical-Backed NFT Trunks, Coinbase Ceo Sells $1.8 Million Worth Of Stock Amid Sec Lawsuit

🤑 JPMorgan Partners with 6 Indian Banks on Blockchain-Based Interbank Dollar Transactions: JP Morgan is stepping into the blockchain game in India to revolutionize interbank dollar transactions. Say goodbye to lengthy settlement times and weekends off! They're partnering with the big guns of the Indian banking world, including HDFC Bank, ICICI Bank, and more. Together, they'll test out their new system in Gujarat International Finance Tec-City, aka GIFT City. Currently, settling transactions takes ages and doesn't even work on weekends or public holidays. But JP Morgan aims to change that with their cool blockchain platform called Onyx. If the pilot phase goes smoothly, they'll kick the old system to the curb and settle transactions in real time, 24/7. Get ready for some speedy and seamless dollar settlements, India!

⚖️ SEC Sues Binance: The SEC is after Binance, accusing them and their founder, Changpeng Zhao, of some serious shenanigans. The charges? Thirteen of 'em! It seems Binance mixed up billions of user funds and sent them off to a European company controlled by Zhao. But wait, there's more! The SEC claims Binance played fast and loose with their own rules to let high-net-worth U.S. investors keep trading on their unregulated international exchange. Apparently, Binance made a cool $11.6 billion in revenue between 2018 and 2021. And guess what? The SEC says they were secretly luring in U.S. customers, even though they knew it was against the law. But here's the juiciest part: Binance's compliance efforts in 2019 were apparently just a show for the public. And get this, Zhao himself allegedly cooked up an evasion plan for those fancy high-net-worth customers, using VPNs and tricky compliance documents. Sneaky, sneaky! So, what's next for Binance and Zhao? Will they face the consequences of their alleged antics? Stay tuned, folks. This crypto drama is far from over!

🧳 Louis Vuitton's $42,000 Physical-Backed NFT Trunks: Calling all fashion-forward crypto enthusiasts! Louis Vuitton is taking a stylish leap into the world of blockchain and NFTs with their 'Via' project. Via is like a whole new chapter in the LV story, where they're all about traceability. They're using the fancy Aura blockchain for their swanky LV Diamonds collection. Starting June 8, customers from the US, Canada, France, the UK, Germany, Japan, and Australia can join the waiting list for their exclusive trunks. To secure your spot, connect your crypto wallets and spill some personal details. On June 14, the chosen few will learn all about 'Via' before getting the chance to buy a trunk. And yes, they'll deliver the physical trunk to lucky NFT holders. This launch is part of Louis Vuitton's tech-savvy chapter, embracing blockchain and NFTs. They even have plans for NFTs in the future. Via Treasure Trunk Holders will score keys to unlock more fashion goodies.

Coinbase Ceo Sells $1.8 Million Worth Of Stock Amid Sec Lawsuit: Coinbase CEO Brian Armstrong made a fortune selling $1.8 million worth of company shares right before the SEC dropped a lawsuit bomb. The SEC claims Coinbase operated as an unregistered broker and made shady securities offerings. As expected, the news sent Coinbase shares plunging over 15%. Yikes! Talk about bad timing! Some folks thought Armstrong had inside knowledge, but journalist Eleanor Terrett shut down those rumors. Turns out, the stock sales were planned ages ago to follow SEC rules. Now, Coinbase is getting ready to battle it out in court. Will they come out on top or get crushed by the SEC? Buckle up, folks, because this crypto rollercoaster is far from over!