The Bitcoin Street Journal Bitcoin Market Update Episode 18 Week 22

Welcome to The Bitcoin Street Journal, your daily source for live market updates, technical analysis, and breaking news regarding Bitcoin. Stay up-to-date with the latest Bitcoin trends, market capitalization and supply, as well as financial and economic news by subscribing to our podcast. Join us on the journey through the world of Bitcoin and its impact on our daily lives. In today's episode, we'll cover Kraken's high share in USD spot trading since January 2018 and the US government's objection to Bittrex's customer-repayment plan.Today, we have a lot of news in the world of cryptocurrency. The UK's FCA is rolling out stricter rules for crypto ads, which includes a referral bonus ban. Meanwhile, Kraken is becoming a more dominant player among exchanges that offer trading in USD pairs; accounting for 20% of the spot volume in the USD crowd in May. In other news, Binance lawyers allege that SEC Chair Gensler offered to serve as an advisor to a crypto company back in 2019, while Bittrex's customer-repayment plan is facing opposition from the U.S. government. On a positive note, BitGo has reached a preliminary agreement to buy Prime Trust. However, in May, the spot trading volume on centralised exchanges fell 21.8% to $495bn, the lowest monthly volume since March 2019. Binance.US has suspended USD deposits and paused fiat withdrawal channels, and Robinhood has ended support for Solana, Polygon, and Cardano. The Department of Justice has charged two Russian nationals with laundering over 600,000 BTC stolen from Mt Gox. Meanwhile, Crypto.com has suspended US institutional exchange service, and BTC market depth on Binance US has collapsed in recent days. In legal news, the CFTC has won the Ooki DAO case, setting a precedent that DAOs can be held liable, and the FTX customer names will not be revealed by the bankruptcy court. Amidst all the regulatory upheavals, Arbitrum continues to dominate the layer-2 landscape and is the top destination for capital flowing away from Ethereum. Also, over 50% of BTC on exchanges have moved outside the US due to regulatory uncertainty. In other news, vitalik Buterin has donated another $100 million to support Covid relief projects. Lastly, the Russian's largest bank has announced that they will allow crypto trading this summer and Deputy Chairman Popov said the offering could be introduced to clients by the end of June. There's a lot happening in the world of cryptocurrency, and we'll keep you updated with the latest news and trends.In today's episode, we covered Kraken's highest share in USD spot trading since January 2018 and the US government's opposition to Bittrex's customer-repayment plan. Thanks for listening and see you at the next one! Don't forget to subscribe.