The G20's Financial Stability Board has stated that crypto firms must introduce basic safeguards to prevent the blow-ups seen at FTX exchange and other crypto casualties, due to globally agreed rules. The watchdog has published final recommendations for supervising firms that trade cryptoassets such as bitcoin, and revised its existing recommendations for stablecoins in light of the demise of TerraUSD/Luna coins. The FSB has emphasized the need for robust governance to avoid conflicts of interest, proper risk management and disclosures to ensure that customer money is segregated from company cash. The collapse of FTX in November 2022 highlighted vulnerabilities from crypto firms, and the FSB has urged all countries to apply the recommendations, even those that are not members of the watchdog.

Huobi, a major global exchange, has responded to unfounded claims of a decline in assets circulating on social media. The exchange released a statement based on data and facts, confirming that the total assets held in custody for users exceed $3 billion.

Another $103M has been transferred from #MultiChain to the 0x1eed63efba5f81d95bfe37d82c8e736b974f477b address.Total transfer from Fantom, Arbitrum, Optimism, Cronos, Polygon, Avaleanche, BNB chain, Moonbeam, Ethereum:$USDC: $23,999,250$fUSDT: $29,657,932$WBTC: $2,139,053$WETH: $17,168,126$ETH $10,102,001$DAI : $2,994,317Total: $103,277,346

Binance CEO CZ said on social media that the Multichain vulnerability has not yet affected Binance and Binance users, and we have exchanged all assets and closed the deposit function. Regardless, we offer assistance to help resolve this issue.

Crypto broker Uphold has released data on its reserves, revealing holdings of $1.056 billion worth of XRP. This has drawn attention from the XRP community and digital asset enthusiast John Deaton. XRP accounts for 28.5% of transactions on the Uphold platform, with XRP assets making up 59% of all assets. Uphold's report also shows that its coverage surpasses liabilities, standing at 101.3%.

June 29 (Cointime) -Coinbase will provide more information through blog posts social media, increase transparency, and communicate when deciding to list assets. Updates will be announced in the roadmap. Assets such as the Solana network and Helium have been taken into consideration. Coinbase's goal is to list all assets possible that meet legal, compliance, and technical security standards, regardless of a project's market capitalization or popularity. The choice of which type of asset to support depends on the network it belongs to and the token standard it follows. Coinbase may have investments in some of these projects and has a conflict of interest policy to prevent persons with financial interests from participating in listing decisions.

June 15 (Cointime) - Crypto prime brokerage Floating Point Group (FPG) has suspended trading, deposits, and withdrawals following a cyber security incident. The company has locked all third-party accounts and secured all wallets while working with third-party forensics experts, law enforcement, and regulators to investigate the incident and recover assets.

Banq, a payments subsidiary of Prime Trust, a crypto custodian facing difficulties, has filed for Chapter 11 bankruptcy protection in the US District Court of Nevada. The filing shows that Banq has assets worth approximately $17 million and liabilities of around $5 million. The move comes just days after Prime Trust agreed to be acquired by BitGo, a competitor, subject to regulatory approval. This is a developing story and will be updated.

Binance.US has requested a federal judge to reject the US SEC's demand to freeze its assets during a legal battle with the regulator. The cryptocurrency exchange's US arm has argued that freezing its assets would harm its business and customers.

On June 7th, a US court granted the SEC's motion to freeze the assets of Binance subsidiaries, BAM Management and BAM Trading, in the country to prevent the dissipation or withdrawal of these assets from the court's jurisdiction. The court ordered Binance to return all fiat currencies and cryptocurrencies held in Binance. us accounts to its customers within ten days. The case against Binance's US subsidiaries is under review, and the broader implications for Binance are yet to be determined.