DeFi News Daily Official TheBitTimes.com

1. Trump Ordered the Imposition of Tariffs, Causing the Cryptocurrency Market to Plunge Amid Risk Aversion link On Monday, Trump signed an order to impose a 25% tariff on imports from Mexico and Canada, and a 10% tariff on imports from China. The order was set to take effect on Tuesday. The cryptocurrency market showed a risk-averse trend and dropped significantly, with BTC recently falling 8% to $92,798.34. Jeff Park, the head of alpha strategy at Bitwise, said that due to the eventual weakening of the US dollar and US interest rates, the ongoing tariff war would be “amazing” for Bitcoin in the long run. On Monday, Ben Zhou, the CEO of Bybit, tweeted, “The real total liquidation amount in the cryptocurrency market today is far more than $2 billion. According to my estimate, it should be at least between $8 billion and $10 billion. The liquidation amount of Bybit in 24 hours alone reached $2.1 billion. The 24-hour liquidation amount of Bybit recorded on Coinglass is about $333 million,...

On Tuesday, June 13, US District Judge Amy Berman Jackson said that both – Binance.US and the Securities and Exchange Commission –  have agreed to work on a deal of avoiding a total asset freeze. Jackson said that the two sides “aren’t that far apart” on ways of protecting billions of dollars in customers’ funds without the need of shutting down the exchange as the lawsuit proceeds. advertisement During a hearing yesterday, Jackson said: “the nitty-gritty of it is better handled by you than by me”. The judge added that if the two parties reach a deal mutually, she would no longer have to rule on the SEC’s request of introducing a temporary restraining order. Binance.US Opposes to Giving Up Control Over Funds Soon after filing the lawsuit on Binance.US for violating federal securities laws, the SEC sought an order to freeze the funds at Binance.US . The federal securities regulator argued that the restrai...