0607 Daily Flash | South Korea to Unify Token Listing & Delisting Standards；Over $70 Billion Flowed Into Crypto Markets in Past 24 Hours；Do Kwon Manipulates Governance Using Shadow Wallet

Today's Topic - South Korea's Top 5 Crypto Exchanges to Release Self-Regulatory Agreement to Unify Token Launch and Delisting Standards

June 7 - South Korean regulatory authorities will hold a symposium on June 13 to announce a self-regulation agreement, according to the Korea Daily News. Representatives from the Special Committee on Virtual Assets, the Finance Commission, the Financial Supervisory Service, the Financial Information Analysis Service and the country's five largest crypto exchanges (Upbit, Bithumb, Korbit, Coinone and Gopax) will attend the meeting. The five major crypto exchanges will report their draft self-regulatory agreements to the meeting on the same day, which will be reviewed by the regulator.

According to reports, the suspension and cancellation of transactions by each exchange for different periods of time due to the Luna incident has amplified investors' losses, and the country's ruling party also suspects that the exchanges are earning huge commissions in this transaction. Therefore, the five major exchanges have decided to take corrective measures on their own and unify the token listing and delisting standards.

The country's ruling party believes that restructuring the listing and delisting standards alone is not enough. Therefore, the industry is considering other measures, such as those to enhance disclosure.

Chart of the Day - More Than $70 Billion Flowed Into Crypto Markets in the Last 24 Hours

With the price of bitcoin topping $31,000, positive short-term price action in bitcoin is affecting the entire cryptocurrency market, which has attracted $70 billion in inflows over the past 24 hours, a potential indicator that investor confidence may be on the rise, Finbold reports.

CoinMarketCap data shows that the total market capitalization of cryptocurrencies stood at $1.29 trillion as of June 6, up 5.7% from $1.22 trillion in the past 24 hours.

Influencer of the Day - Terra Community Researcher Exposes: Do Kwon Manipulated Governance Using Shadow Wallets

On June 7, Terra community researcher FatMan tweeted, "Do Kwon has repeatedly stated that TFL's new LUNA tokens are zero, making Terra 2.0 'community owned', which is an outright lie. In fact, TFL has over 42 million LUNA worth over $200 million and they are lying with their eyes wide open."

In addition, FatMan disclosed four wallet addresses associated with TFL and stated, "Do Kwon used his shadow wallet to approve 'his own proposal' through governance manipulation (which TFL was not supposed to vote on), telling everyone it would be a community-owned chain. These are just the verified wallets, there are many others."

In previous news, FatMan revealed that video evidence confirms that Do Kwon is still located in Singapore as of June 3.

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Author: Gate.io Researcher Byron B. Translator: Peter L.
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