According to the Times of India, despite the Supreme Court's opposition to the ban, the Reserve Bank of India (RBI) remains cautious about cryptocurrencies, stating that they may pose risks to financial stability and monetary policy. A government committee is currently reviewing this matter. RBI has also introduced a new regulatory framework that emphasizes public consultation, impact analysis, and regular review to adapt to the constantly changing situation.
Previously, it was reported that India may release a discussion document on cryptocurrency regulation in June.
Odaily Planet Daily News: Analyst Andrei stated on the Token Narratives program that when a company's market value drops by 99% and all paths point to Bitcoin, betting on BTC is not just a strategy, but may be the only option left for some companies.
Andrei described this as a "strategy manual for late capitalism," pointing out that "we have no ideas at all... our only chance is to do things like Bitcoin." This viewpoint has sparked discussions about Bitcoin as the last resort for businesses and reflects the trend of some companies turning to the cryptocurrency field after the failure of traditional business models. （(Bitcoin.com) News）
Odaily Planet Daily News: Paolo Ardoino, CEO of Tether, the stablecoin USDT issuer, shared an analysis stating that "if Tether goes public, it will reach a market value of $515 billion" and said that this is a beautiful number. According to this statement, Tether will become the 19th largest company in the world, surpassing Costco and Coca Cola. Although the numbers are beautiful, Tether hopes to remain humble but is also very excited about the company's next stage of development. The current business model is quite good, there is no need to go public yet.
BlockBeats News: On June 8th, T-Mobile, a US company under Deutsche Telekom, began distributing $350 million in class action settlements to millions of customers affected by a massive hacking attack and data breach in 2021. The distribution of settlement funds has begun and will continue in the coming weeks. In 2021, a cyber attack leaked personal data of approximately 76 million American customers, including sensitive information such as names, addresses, and social security numbers.
T-Mobile agreed to this settlement in July 2022, and eligible customers will receive digital deposits or paper checks ranging from $25 to $100 depending on their choice during the claims process. Some users may receive up to $25000 due to significant recorded losses. The settlement also includes providing two years of free identity protection services to affected customers. T-Mobile stated that it has strengthened its network security protocols to prevent future incidents, but did not admit any wrongdoing in the settlement.
Odaily Planet Daily News: According to the monitoring of Ashes, a giant whale address that purchased 500 BTC at an average price of $27400 two years ago increased its holdings of 250 BTC (approximately $26.37 million) through Gemini today. The address has been holding 750 BTC since May 2023, when 500 BTC were transferred from Gemini. The comprehensive cost price is $53426, and the current floating profit is $39.14 million.
