Crypto news US inflation down, Apple warns against Damus removal, Ripple Hinman papers made public and more.

Read about the latest news in the world of cryptocurrency and blockchain, including stories that may not be making headlines in mainstream crypto news. __________

Economic news

  • The US Bureau of Labor Statistics has reported that US inflation decreased to 0.1% in May, down from 0.4% in April. On an annual basis, US inflation has decreased to 4%, down from 4.9% a month ago. These figures were slightly lower than expected.

Bitcoin news

  • Apple has warned that it may remove Damus from its app store due to a built-in tipping feature based on Bitcoin’s Lightning Network. Damus is a social media app similar to Twitter that is based on the decentralized Nostr protocol and has become popular among Bitcoin users.
  • Despite the lower-than-expected US inflation report that could indicate that the Fed will soon pause its rate hikes, Bitcoin failed to trade higher on Tuesday. Many members of the crypto community on Twitter expressed disappointment, with some noting the stark contrast between BTC and the strong action in the stock market after the inflation numbers were released.
  • The so-called Hinman documents in Ripple’s ongoing legal battle against the US Securities and Exchange Commission (SEC) have been unsealed by the court. The documents are believed to improve Ripple’s chances in the case, and Ripple CEO Brad Garlinghouse tweeted ahead of the release that it would be “well worth the wait.” XRP immediately rose in value as the documents were released.

Regulation news

  • Coinbase CEO Brian Armstrong stated on Bloomberg that even though the chair of the SEC “may have a certain point of view,” that does not mean the rest of the US government shares the same view. “In fact, quite the opposite. I would say the SEC chair is a bit of an outlier here,” Armstrong said when asked about the SEC’s lawsuit against his exchange.

DeFi news

  • The DeFi protocol Sturdy Finance has announced that it will pay a bounty of $100,000 to the hacker(s) behind an attack on Monday if the funds are returned. If the attacker(s) accept the offer, the case will not be pursued further, according to the Sturdy Finance team.
  • Uniswap Labs has released its plan for the fourth version of the popular decentralized exchange (DEX). As regulators in the US are increasingly targeting crypto projects they deem centralized, the firm is now opening its development process to the public for the first time.

Altcoin news

  • The leaders behind the Decentralized Autonomous Organization (DAO) that governs the ApeCoin (APE) project have been accused by community members of having “insane” and “disconnected from reality” salaries. In a public response, ApeCoin DAO board member Yat Siu defended the high salaries, saying they are “commensurate to the responsibility and liability of the role.”

Industry news

  • London-based crypto venture capital firm Eden Block has appointed former Goldman Sachs partner Orit Freedman Weissman as a new general partner, according to The Block. Weissman has 20 years of experience at Goldman Sachs in Israel, where he served as the bank’s regional CEO.