🚀 Terraform Labs agreed to pay $4.47 billion to the SEC after being found guilty for the collapse of the Terra ecosystem, which wiped out $40 billion in investor assets. The firm will cease operations and sell key projects in the Terra ecosystem.

In other news, Ripple lawyers asked a court to consider an "appropriate" civil penalty following the SEC's settlement with Terraform Labs. The SEC is asking Ripple to pay around $2 billion, but Ripple argues it should not pay more than $10 millions.

President Biden announces changes at the SEC, FDIC and Treasury with his recent nominations.

Turkey will implement a 0.03% tax on crypto transactions, despite previously denying plans to tax crypto and stock profits.

Australia's largest stock exchange, ASX, approved its first spot Bitcoin ETF, which will begin trading on June 20.

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