U.S. President Biden Vetoes Resolution Overturning SEC Guidance

U.S President Joe Biden signed a veto of a House Joint Resolution that would have repealed the Securities and Exchange Commission’s (SEC) Staff Accounting Bulletin 121.Source

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Wall Street Asks Biden Not to Veto Congress’ Rejection of SEC Crypto Policy

In a rare lobbying overlap with crypto world, Wall Street banks and members of Congress are asking President Joe Biden to reverse course on his vow to veto the U.S. congressional resolution to overturn the U.S. Securities and Exchange Commission’s (SEC) crypto accounting policy.Source

Uniswap Postpones Protocol Upgrade Vote; UNI Tumbles 9%

The “fee-switch” vote was supposed to take place today.Source

U.S. Sen. Wyden: House ‘Right’ to Pursue Crypto Bill, Late in Session for More Progress

AUSTIN, Texas – Sen. Ron Wyden (D-Ore.), one of the U.S. Senate Democrats who’ve shown some support for crypto issues, cast doubt Friday that a legislative solution for the industry would move quickly, but he suggested to an audience at CoinDesk’s Consensus 2024 that the momentum will continue next year in Washington.Source

Bitcoin Breaks to Low End of Trading Range, but June Data Could Be Next Catalyst

The price action has been highly muted this week after plenty of volatility surrounding the previous week’s surprising regulatory turnaround for the spot ether ETFs.Source

Japanese Crypto Exchange DMM Bitcoin Suffers $305M Hack

Measures have been taken to prevent further unauthorized outflows, the exchange said.Source

Bybit Confirms Executive Shake Up After Notcoin Deposit Delays

Cryptocurrency exchange Bybit has confirmed reports that several executives have “changed roles” after a botched notcoin (NOT) launch resulted in $23 million in compensation being sent to 320,000 users.Source

Tether Buys $100M Worth of Bitdeer Shares With Option to Purchase $50M More

Bitdeer intends to use the proceeds to fund its data center expansion and ASIC-based mining rig development, the Singapore-based company said.Source

First Mover Americas: Crypto Market Flat Ahead of U.S. Inflation Data

The latest price moves in bitcoin (BTC) and crypto markets in context for May 31, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.Source