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Week Ahead Industry Previews: Third Week of June 2023

Kean
Kean
June 19, 2023 · 4 minutes 
Here’s a rundown of the most noteworthy industry events and project developments to look out for in the coming week

Crypto.com has announced that it will no longer provide services to institutional clients in the United States starting from June 21st. According to Crypto.com, due to the “current market landscape,” institutional clients have limited demand. The company assures that retail investors will not be affected by this decision and can continue to use the platform in the United States, including Crypto.com’s CFTC-regulated UpDown Options. The closure of Crypto.com’s institutional business in the United States will not impact Crypto.com Arena, the sports stadium in downtown Los Angeles that bears the name of Crypto.com. In 2021, Crypto.com signed a $700 million naming rights agreement with the owner and operator of Staples Center, AEG.

Chairman Patrick McHenry of the House Financial Services Committee in the United States has announced two hearings regarding the oversight of the SEC. The Subcommittee on Oversight and Investigations will hold a hearing on June 22nd at 9:00 a.m. local time, focusing on “Oversight of the SEC.” The Subcommittee on Capital Markets will hold a hearing on June 22nd at 10:30 a.m. local time, with the theme of “Oversight of the SEC’s Division of Trading and Markets.”

The “Buidl the New Web Together” series of offline events organized by Foresight X, in collaboration with Google Cloud, Amazon Web Services, and others, will take place in Hong Kong on June 23rd. This series of events is planned to be held in multiple cities this summer, including Hong Kong, Shanghai, Beijing, Hangzhou, Shenzhen, Chengdu, and the United States. The aim is to bridge the gap between Web 2.0 and Web 3.0 technologies. The events will invite leading researchers in technology, successful entrepreneurs who have transitioned to Web3, builders deeply involved in Web3, and investors interested in both Web2 and Web3 to share and explore the possibilities in the Web3 field. Some sessions will also cover AI topics.

ETHShanghai 2023, hosted by Mask Network, will take place from June 25th to June 30th. The event will be divided into two parts: the Hackathon (June 25th – June 29th) and the main conference activities (June 29th – June 30th). This developer summit will focus on the Ethereum open-source technology ecosystem, with a particular emphasis on underlying blockchain infrastructure, decentralized storage, on-chain data processing, Layer 2 solutions, zero-knowledge proof technology, DID (Decentralized Identifiers), developer tools, and the integration of Web3 and AI. Discussions will revolve around various technical themes, such as the future of Web3 digital economy, decentralized social networking, and the Asian Web3 developer community.

June 19th

Project Updates:

  • BNB Chain releases a teaser video and may announce important news on June 19th.
  • Binance Futures will delist BNT/BUSD, CVX/BTC, and other isolated margin trading pairs on June 19th.

Event Announcements:

  • Discounted tickets for the 2023 Shanghai Blockchain International Week are available for purchase on the event’s official website until noon on June 19th.
  • MakerDAO will increase the DSR (DAI Savings Rate) from 1% to 3.49% on June 19th.

Regulations& Events:

  • The Bank of Canada has initiated an online public consultation on the Bank of Canada Digital Currency, which will continue until June 19th.
  • The Podgorica District Court will deliver a verdict on the case of Do Kwon’s forged passport on June 19th.

June 20th

Important Event:

  • BlockFi will submit a disclosure statement for court approval on June 20th.

Project Updates:

  • Sui Network will release Devnet v1.4.0 on June 20th.
  • Voyager is expected to start distributing cryptocurrencies to creditors from June 20th.
  • Cryptocurrency exchange Luno will cease operations for Singapore users starting from June 20th.

Token Unlocking:

  • The 1inch token (1INCH) will unlock 15,000 tokens (valued at $4,242) on June 20th at 16:00:00 UTC, which represents 0.001% of the total supply.

Event Announcement:

  • Bing Ventures hosts an online event titled “Lessons from the Regulatory Battle Between the SEC and CFTC for RWA” at 21:00 UTC.

June 21st

Important Events:

  • Crypto.com will stop providing services to institutional clients in the United States starting from June 21st, while retail investor services remain unaffected.

Event Announcement:

  • The deadline for The Iliad Event, an NFT event in the zkSync ecosystem launched in collaboration with Element, is on June 21st.
  • Hotbit ceases operations, and users are required to withdraw their remaining assets before 12:00 UTC on June 21st.

Project Updates:

  • Sui Network will release Testnet v1.4.0 on June 21st.
  • The NFT series “KodaPendant,” a collaboration between luxury brand Gucci and Otherside, is set to launch a snapshot on June 21st.

Proposal Voting:

  • The voting for the DIA community’s “Oracle Gasdrop (Arbitrum Grant Program)” proposal ends at 21:00 UTC on June 21st.

June 22nd

Token Unlocking:

  • Euler token (EUL) will unlock 147,848 tokens (approximately $230,000) at 02:39:19 on June 22nd, accounting for 0.544% of the total supply.
  • SPACE ID token (ID) will unlock 15,152,777 tokens (approximately $4.45 million) at 08:00:00 on June 22nd, accounting for 0.758% of the total supply.

Proposal Voting:

  • ApeCoin DAO has initiated a nomination vote for special committee members and governance workgroup administrators, ends on June 22nd.

Project Updates:

  • Lido has terminated staking for Polkadot and Kusama, and all staked assets will be automatically released on June 22nd.
  • Syndicate will cease support for Investment Clubs and Collectives products, closing on June 22nd.
  • Binance Margin will delist leveraged trading pairs like FARM/BUSD and LSK/BUSD on June 22nd.

Event Announcement:

  • Sequoia Capital Arc Europe will be held from May 9th to June 22nd, 2023.
  • Adidas will launch  limited edition NFT sneakers on June 22nd.

Regulations:

  • The U.S. House of Representatives will hold two SEC oversight hearings on June 22nd.
  • The UK tax authority proposes legislative amendments for taxing DeFi lending and staking, with consultations ending on June 22nd.

June 23rd

Project Updates:

  • DASH’s next block reward reduction will occur on June 23rd.
  • SEBC, a Japanese cryptocurrency exchange previously acquired by Binance, will launch “Binance JAPAN” service in June.

Event Announcement:

  • Foresight X, in collaboration with Google Cloud, Amazon Web Services, and others, will host the “Buidl the New Web Together” series offline event in Hong Kong on June 23rd.
  • ETHGlobal will organize the ETHGlobal Toronto Hackathon from June 23rd to 25th, 2023.

June 24th

Proposal Voting:

Arbitrum’s AIP-1.1 and 1.2 proposal voting will conclude on June 24th.

June 25th

Token Unlocking:

  • Acala token (ACA) will unlock 4,657,534 tokens (approximately $180,000) at 08:00:00 on June 25th, accounting for 0.466% of the total supply.

Event Preview:

ETHShanghai 2023 will take place from June 25th to June 30th.