1️⃣ Terraform Labs and its former CEO Do Kwon have reached a settlement with the SEC.
This was reported by The Block, citing court documents. The parties must submit documents for the final settlement by June 12, 2024, the publication noted. After that, the civil case brought by the US Securities and Exchange Commission (SEC) will be resolved.
2️⃣ A halving occurred on the Ethereum Classic network.
As a result, the reward for each mined block was reduced to 2.56 ETC. This was the fourth halving. In Ethereum Classic, a halving occurs every two years with a 20% reward reduction.
3️⃣ The largest cryptocurrency mining complex in Russia will be created in Tatarstan.
This was announced by Deputy Prime Minister of the Republic of Tatarstan, Roman Shaykhutdinov, during the Kazan Cryptoforum. A working group was created for the development of a regional operator for mining and personal transaction transfers in Tatarstan.
4️⃣ The crypto market barely reacted to US inflation data.
The Personal Consumption Expenditures (PCE) price index rose 0.3% in April compared to March and 2.7% compared to April 2023. According to this index, annual inflation in April remained unchanged. The PCE indices are the preferred inflation indicators for the US Federal Reserve (Fed).
