Here is the outline for today’s newsletter🔥

• Tornado Cash sanctions called unlawful.

• Cardano shows impressive growth & development.

Tornado Cash sanctions called unlawful

The Blockchain Association and the DeFi Education Fund have jointly filed a brief opposing the U.S. Treasury Department's sanction on Tornado Cash, citing it as "unprecedented and unlawful."

Tornado Cash, a widely used privacy-protecting tool on the Ethereum blockchain, was recently sanctioned by the Office of Foreign Asset Control (OFAC).

The amicus brief submitted by the organisations argues that the sanctions imposed on Tornado Cash demonstrate a lack of understanding regarding the software and its legitimate purposes.

Tornado Cash is an open-source protocol that enables users to mix Ethereum transactions, enhancing privacy and confidentiality. Similar to traditional technologies like cash and the internet, Tornado Cash provides a means to protect user privacy in the digital realm.

The Blockchain Association and the DeFi Education Fund share a common goal of fostering a favourable policy environment for the digital asset economy while promoting the adoption of blockchain technology and decentralised finance (DeFi).

Through their brief, they seek to challenge the sanction on Tornado Cash and shed light on the potential implications of such regulatory actions.

The decision to sanction Tornado Cash raises both regulatory and constitutional questions that could significantly impact the blockchain ecosystem and the broader digital asset economy.

The outcome of this case could have far-reaching consequences, shaping the future of privacy-enhancing technologies and their place within the regulatory framework.

As the proceedings unfold, the Blockchain Association and the DeFi Education Fund will continue their efforts to advocate for a balanced and informed approach to regulating digital assets.

Their engagement in this case highlights the importance of fostering an environment that encourages innovation while addressing legitimate concerns related to financial privacy and security.

Cardano shows impressive growth & development.

Cardano, a blockchain platform, demonstrated a robust performance in May, experiencing substantial progress in decentralisation, development, and network activity.

The platform's native token, ADA, has been making significant strides towards reaching the $1 mark as Cardano gains prominence in the decentralised finance (DeFi) space.

Throughout May, Cardano achieved remarkable milestones, such as the introduction of 150,000 new native tokens, 2,218 token policies, and an impressive record of 1.8 million transactions.

One notable factor influencing Cardano's recent spike in activity and transactions is the memecoin called SNEK. Its popularity and gains have contributed to the increased engagement on the Cardano network since its inception.

Cardano's development team has been driving decentralisation and scalability through the release of new protocols. The Hydra protocol, designed for layer-2 scaling, and the Marlowe update, enabling accessible smart contracts, have both accelerated Cardano's progress.

In an important step towards decentralised governance, the Cardano network conducted its first on-chain governance poll test.

Cardano is steadily gaining ground on its competitors and attracting new interest from both retail investors and whales in the DeFi space. Its performance in May, combined with its ranking in DeFi Total Value Locked (TVL), has positioned Cardano favourably.

With its impressive growth and development, Cardano remains on track to reach the $1 milestone. The platform's advancements, coupled with its growing presence in the DeFi sector, are solidifying its position as a prominent player in the blockchain industry.

Could this be a sign to get ADA? I guess that is up to you to decide🤔

BitMEX Founder predicts bull market?

BitMEX founder Arthur Hayes has expressed his belief in an upcoming Bitcoin bull market, anticipating that the Federal Reserve's rate hike will act as a catalyst.

Thats a prediction that not too many people can agree on.

Hayes suggests that wealthy asset holders who receive interest payments from the Fed are likely to invest in risk assets such as gold, Bitcoin, and AI tech stocks.

Hayes expects the real Bitcoin bull market to commence in the late third quarter or early fourth quarter of this year, bringing significant excitement and positive price movements.

He predicts that Bitcoin will remain strong and not revisit the $20,000 price level or come close to it. We will keep note of this don’t worry!

The reduced activity in the crypto market, according to Hayes, can be attributed to the summer months in the northern hemisphere, which generally experience lower volatility and trading volumes.

Hayes plans to increase his Bitcoin allocation after the US Treasury's General Account is replenished. He highlights that as more people engage in discussions about the Federal Reserve and US Treasury's money printing practices, it will become common knowledge that Bitcoin benefits from the effects of "the money printer going brrr."

It is important to note that the opinions expressed by Arthur Hayes are not investment advice. Investors are advised to conduct their own due diligence and exercise caution when considering high-risk investments in Bitcoin or digital assets.

 ✨Bonus News✨

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• Lululemon stocks soar. What is going on with the company and other stocks?

• UBS a place for wealthy Americans. Find out why wealthy Americans like UBS for banking.

Disclaimer: This is not any kind of financial advise. This newsletter is solely informational; it does not constitute investment advice, a solicitation to buy or sell any securities, or a recommendation regarding how to manage your money. Be cautious and conduct your own study, please.