[Crypto lending platform Genesis reaches $2 billion settlement] According to BlockBeats, New York Attorney General Letitia James recently announced that a major settlement agreement has been reached with the crypto lending platform Genesis, totaling up to $2 billion, to repay defrauded investors. Genesis filed for bankruptcy protection in early 2023, and in October of the same year, James sued DCG, its Genesis subsidiary, and Gemini Trust, accusing them of misleading investors on the Gemini Earn program, resulting in more than $1 billion in losses.

This settlement agreement is undoubtedly a comfort to the affected investors and a warning to the blockchain industry. In this industry full of opportunities and challenges, investors need to be more cautious, and at the same time, relevant platforms also need to be responsible for their actions to protect the rights and interests of investors.

What do you think of this incident? Welcome to share your views in the comment area, let us explore the future direction of the blockchain industry together. 😊

【News】According to BlockBeats, CryptoQuant data shows that there are only 1,918,417 bitcoins on centralized trading platforms, which is the lowest point since 2024, 400,000 less than a year ago. 😮

Does this mean that investors are transferring bitcoins from trading platforms to private wallets, or are they looking for other investment channels? We cannot give a definite answer to this question for the time being, but this phenomenon has undoubtedly triggered our in-depth thinking about market dynamics.

What changes in the market may this data indicate? Is investor confidence in Bitcoin weakening, or is the market undergoing new changes? These are all issues worth further discussion.

Here, we encourage everyone to share your views in the comment section. What do you think is the reason behind this phenomenon? What is your prediction for the future Bitcoin market? Let us discuss together and gain insight into the future direction of the blockchain industry!

Hello everyone! Friends in the Manta community, do you still remember how busy we were in April after TGE? Today, I want to share our progress with you, hoping that you can see Manta's continued development and give us more feedback. 😊

First of all, we know that what everyone is most concerned about is the issue of TVL. There is indeed a significant drop from 2b to the current 800m. We believe this is related to the fact that the rate of return given by various L2 and restaking projects in the market is too high. However, we chose a new direction.

1) With the launch of Manta CeDefi, we have brought the highest market neutral returns to BTC, ETH and stablecoins on the chain. This is more durable and stable than the manta token subsidy. We are also very concerned about the construction of the RWA ecosystem. We first cooperated with the most compliant native income stablecoin USDM in the United States. You will also see further development after this cooperation.

2) We will further develop the manta ecosystem. Our ecological projects have increased to 200+, and there are more than 50 defi projects in defilama. This shows that manta has a comprehensive ecosystem with no obvious missing pieces. We will also hold further hackathons, further open up the governance system and grant application mechanism, and work with the community to promote truly large-scale applications.

3) In terms of infrastructure development, we are also in the process of integrating type1 prover, and strive to promote manta as the first L2 in opstack to implement multiprover.

Although Manta is in a difficult period now, we still have a strong global community. We will continue to build, just like we have for the past four years. We may not be the first in all fields, but we will continue to deliver products so that community users and builders can participate in more interesting ways.

I’m looking forward to manta’s ecology, and I’m also looking forward to seeing more of you in the ecology. If you have any thoughts, please leave a message in the comment area!

[Blockchain News] Ethereum co-founder Vitalik Buterin recently praised the crypto-economic experimental project "Orb Land" on social media, calling it "really cool." It is understood that "Orb Land" is an innovative experiment initiated by Eric Wall, founder of Taproot Wizards, whose main goal is to tokenize personal consulting services into NFTs. Users who purchase Orb will have the right to ask questions to the creator of Orb, and can even resell this right.

Technically speaking, Orb is an improved ERC-721 that supports the ERC-721 interface, and all functions related to transfers are restored. Although Orb can be displayed on OpenSea, it cannot be listed for sale on NFT trading markets such as OpenSea, Sudoswap or Blur. In addition, Orb also manages ownership functions through auctions and the Harberger tax system.

Is this project interesting? 😉 If you have any opinions or questions about the crypto economy, blockchain or NFT, please feel free to speak in the comment area, let us explore this new world full of infinite possibilities together!

[Blockchain Express] According to BlockBeats, Dragonfly managing partner Haseeb recently published an article on the social platform, discussing the reasons for the general poor performance of "low circulation/high FDV" tokens recently listed on Binance. He believes that this is not due to broken market structure, excessive greed of venture capital or retail investors being targeted, but the market's reduced risk appetite for new tokens. He also pointed out that theories such as venture capital, retail investors turning to MEME trading, and insufficient circulation do not hold true in the data.

Haseeb suggested that market participants better adjust their expectations and strategies, and he believes that the free market will adjust price errors on its own. He further explained that the geopolitical tensions in the Middle East in mid-April led to a decline in overall market sentiment, which was the main reason for the decline in token prices. The market's risk appetite for new tokens has decreased, and such tokens have been classified as "high-risk new tokens" and sold off.

What do you think of this view? Welcome to share your views in the comment area, let's explore the future direction of the blockchain industry together! 😊

[Blockchain News] Justin Drake, a core researcher at the Ethereum Foundation, recently announced on Twitter that he has become an advisor to the Eigen Foundation! 🎉 However, he also said that if the development direction of EigenLayer is contrary to the interests of Ethereum, he will be ready to give up the advisory position at any time, and promised to reinvest all advisory income into valuable projects within the Ethereum ecosystem, whether it is investment or donation.

Justin Drake also emphasized that he is very picky about the choice of advisory positions, and the entire negotiation process took more than a year to discuss. The condition for his position as an advisor is that his job responsibilities are limited to studying re-staking risks, providing advice in his personal capacity, and his name will not appear in marketing materials.

This news is big news for the cryptocurrency market, and it has also triggered heated discussions about the future development of Ethereum and the Eigen Foundation. What do you think? Welcome to share your views in the comment area!

🎉Good news! On May 19, 4E successfully held a summit called "FINE-TUNE YOUR FORTUNE" in Ho Chi Minh City, Vietnam, attracting more than 800 enthusiastic participants. The atmosphere was warm, and topics such as blockchain technology, investment prospects and strategies for the bull market in 2024 sparked heated discussions.

Surprisingly, Argentine legendary player Juan Sebastian Veron also attended the summit, interacted with participants, presented signed jerseys, and awarded prizes to the user with the largest gold trading volume on the 4E platform, pushing the summit to a climax.

As the organizer, the 4E platform demonstrated its ambition to be a global market leader. With the mission of providing safe, convenient and innovative financial products, investment and custody services, they are committed to creating a full range of financial services platform for users.

The 4E platform not only provides traditional investment options, but also enhances the user's investment experience through innovative ways. For example, the 4E financial card allows users to use it at 50 million merchants around the world, realizing the seamless conversion of crypto assets and legal currencies. The copy trading function allows inexperienced users to copy the investment strategies of experienced investors in real time, lowering the investment threshold.

At the summit, 4E also showcased its latest product achievements and innovative applications. These displays attracted widespread attention from participants, and many participants expressed their expectations for the future development of the 4E platform.

When talking about future development, 4E said that they plan to further expand their product lines in foreign exchange, cryptocurrency and bulk assets, and integrate more innovative payment and consumption channels to make investment a lifestyle. In terms of geographical expansion, the Vietnamese market is currently the focus of 4E. At present, it has achieved phased results. The 4E APP has always been at the top of the download rankings in the Vietnamese app store, indicating that our influence and acceptance in the region are growing.

The successful holding of this summit not only provides a platform for participants to communicate and learn, but also demonstrates the leading position and innovation capabilities of the 4E investment platform in the field of financial services. In the new era of financial services, 4E's product innovation spirit and keen insight into user needs indicate that it will occupy a more critical position in the future financial market landscape.

What do you think about the future development of the 4E platform? Feel free to speak your mind in the comment area and discuss the future trends of the financial market together! 🎈

[Blockchain News] According to BlockBeats, the net inflow of US spot Bitcoin ETF this week reached an astonishing $948.3 million! The inflow this week can be described as in full swing, rising steadily every day. Among them, the net inflow on Monday, May 13 was $66 million, the net inflow on Tuesday, May 14 was $100.5 million, the net inflow on Wednesday, May 15 was $303 million, the net inflow on Thursday, May 16 was $257.3 million, and the net inflow on Friday, May 17 was $221.5 million. It seems that the performance of Bitcoin ETF in the US market is remarkable, attracting a large amount of capital inflow.

This data undoubtedly adds a touch of color to the development prospects of Bitcoin ETF and brings new vitality to the blockchain industry. 😉

Here, we also invite everyone to share your views on Bitcoin ETF in the comment area. What do you think is the reason behind this phenomenon? What will be the development trend of Bitcoin ETF in the future? Looking forward to your wonderful views!

[Blockchain News] According to BlockBeats, on May 19, Aevo announced the launch of Aevo Airdrops, a new program that aims to work with some pre-launch projects launched by Aevo and airdrop their tokens to the most active pre-launch traders and AEVO stakers. 🎉

The first two projects launched in Aevo Airdrops are Swell Protocol and Zerolend Finance. Both projects are newcomers with outstanding performance in the blockchain field. Aevo will start airdropping ZERO tokens to eligible wallets next week.

This is an event that everyone has the opportunity to participate in. Whether you are an old bird or a novice, as long as you are active on the Aevo platform, you may get this little surprise from Aevo. 😉

This move by Aevo is undoubtedly a bold attempt and innovation for its users, and it is also a positive promotion for the blockchain industry. Let us look forward to Aevo's airdrop event and see what surprises it will bring!

What do you think of Aevo's event? Feel free to speak your mind in the comment section, let us discuss the future development of the blockchain industry together!

[Crypto Story] APhone, the world's first decentralized cloud smartphone, joins hands with Aethir, a distributed GPU cloud computing network, to build a more secure and decentralized cloud infrastructure! 🎉

APhone users, are you ready? You will have the opportunity to get a portion of Aethir's native token $ATH in the upcoming Aethir cloud sale. At the same time, all Aethir node operators will also receive 20,000 Access Passes to use smartphones that support DePin. This will not only expand the coverage of decentralized networks, but also reduce the cost of next-generation mobile Internet services.

APhone, the next-generation cloud phone, allows users to run the most complex Web3 applications and traditional applications on any device with a compatible web browser. William Paul Peckham, Chief Business Officer of APhone, said: "Decentralization is the future of mobile infrastructure, and Aethir complements us perfectly to help us achieve our mission of promoting Web3 to the world."

Aethir solves the problems of high cost and low scalability often encountered by traditional cloud services, creating a global decentralized node network to support businesses that require infinitely scalable and high-performance cloud infrastructure. Aethir CEO Daniel Wang said: "APhone is a revolutionary product that enables any smartphone to make a positive contribution to strengthening the ecosystem."

Earlier this year, Aethir launched a node sale and raised $60 million in 30 minutes, with sales of up to $120 million, strengthening its independence and its commitment to decentralized principles.

What do you think about this? Feel free to speak out in the comments section and discuss the future of the decentralized world together!

[Blockchain News] Gemini will begin returning the first 97% of crypto assets to customers of the Genesis Earn program, and it will be paid in kind! 😉 This means that if you previously deposited a bitcoin into Gemini Earn, you will receive bitcoin instead of compensation in the form of the dollar value of bitcoin on a specific date (as of November 16, 2022). This news comes from the BlockBeats report on May 19.

What do you think about this? Welcome to share your views in the comment area and let's discuss this topic together. However, no matter how the market changes, we should remain calm, invest rationally, and not be affected by short-term market fluctuations.

Previously, the cryptocurrency lending institution Genesis Global obtained court approval in bankruptcy liquidation and will return about $3 billion in cash and cryptocurrencies to customers. This is undoubtedly good news. For those customers who have claims on Genesis Global, their assets are protected to a certain extent.

Here, we also hope that Gemini's action will have a positive impact on the entire blockchain industry and promote the healthy development of the industry. At the same time, we would like to remind everyone that investment is risky and choices should be made with caution, and we should try to avoid unnecessary losses due to temporary greed.

[Blockchain News] EigenLayer, a protocol built on Ethereum, has introduced re-staking and has become the dominant narrative in the Ethereum community. 🎉 Through EigenLayer re-staking, developers are able to leverage Ethereum's existing economic security infrastructure to bootstrap new active verification services (AVS). The emergence of EigenLayer and its thriving AVS ecosystem has opened up the "verifiable cloud" paradigm for web3.

The core goal of EigenLayer is to usher in a new era of permissionless innovation and free market governance by reducing the complexity for developers to build and bootstrap these networks from scratch. Launched in 2023, EigenLayer enables users to re-stake their staked ETH or LST. As of May 14, 2024, more than 4.9 million ETH (worth over $15 billion) has been re-staked into the EigenLayer protocol.

Sreeram Kannan, founder of EigenLayer, is often quoted as saying “EigenLayer is the cryptographically verifiable cloud”, but what does that really mean? In traditional cloud architectures, centralized entities provide compute, storage, and hosting services for various web2 SaaS solutions. These SaaS solutions are generally divided into two categories: horizontal SaaS (i.e. generalizable software solutions that typically target a broad range of end users regardless of their industry) and vertical SaaS (i.e. software solutions that target a specific niche, use case, or industry standard).

In comparison to the transformation of web2 development by cloud platforms and SaaS solutions, we believe that the emergence of EigenLayer and AVS provides a similar paradigm shift for the blockchain ecosystem. EigenLayer aims to provide cryptoeconomically secure services for AVS (e.g. “web3 SaaS”). Similar to the emergence and widespread adoption of SaaS solutions in the Web2 environment, we see a similar trend in the emergence of AVS, driven by increased demand for protocols and dapps.

Overall, EigenLayer's "shared security system" aims to drive rapid innovation on the chain while providing enhanced decentralization, trust, and transparency, thereby redefining the future of "verifiable cloud" computing.

What do you think of EigenLayer? Feel free to speak in the comment area and discuss the future possibilities of blockchain together!🚀

【Breaking News】 According to BlockBeats, the net inflow/outflow data of all Bitcoin spot ETFs on May 18 has been fully revealed. According to Tree News monitoring, BlackRock IBIT's net inflow yesterday reached an astonishing $38.1 million, which is really a lot of money! 😉

In addition, Farside Investors data also gave data on other ETFs: Fidelity FBTC net inflow of $99.4 million, Grayscale GBTC net inflow of $31.6 million, Bitwise's BITB net inflow of $20.8 million, ARK's ARKB net inflow of $10 million, Invesco BTCO net inflow of $5.7 million, Valkyrie's BRRR net inflow of $6.4 million, Vaneck's HODL net inflow of $9.5 million.

Yesterday's total net inflow was about $221 million, and the overall net inflow exceeded $200 million for three consecutive days. What do you think of this data? Are you optimistic about the future of Bitcoin, or do you think this is just a short-term craze? Welcome to speak freely in the comment area, let us discuss the future direction of cryptocurrency together!

【Crypto Gossip】BlockBeats latest news, LayerZero partner Chaos Labs founder Omer shared on social media how they detect "witch" users. You may ask, what is a "witch"? Don't worry, let me explain it to you. Here, "witch" refers to those users who build accounts on a large scale and engage in improper behavior in order to obtain airdrop rewards. 😉

Omer said that their detection principle is to protect real users, maximize accuracy, and screen out these "scientist" addresses. According to him, the total number of LayerZero users is currently 4.82 million, of which the number of addresses with a unique source of funds has reached 2.18 million, and the proportion of "witch" users is as high as 14.8%.

During the detection process, Chaos Labs will track the source of funds of the detection address, focusing on CEX/DEX and bridges, and mark the first native token transfer of each account as a fund transaction. For example, addresses with the same source of funds within 24 hours and roughly the same interactive behavior thereafter will be marked as "witch".

Does this news give you a deeper understanding of the operation of the blockchain industry? What do you think about it? Welcome to share your views in the comment area and let’s discuss together!

[Blockchain News] According to BlockBeats, Bloomberg quoted people familiar with the matter as saying that some fund companies predict that the Ethereum spot ETF may be rejected next week. The reason is that their private communication with the U.S. Securities and Exchange Commission (SEC) is not as frequent as before the approval of the Bitcoin spot ETF in January this year. Katherine Dowling, general counsel of Bitwise, said: "Most people generally expect to receive a disapproval order, but everything is just speculation at the moment." 😉

Previously, fund companies submitted multiple versions of revised documents in the last few weeks before regulators approved the Bitcoin spot ETF to help address the issues raised by the SEC, which paved the way for their approval. However, there are much fewer activities related to the Ethereum ETF spot application.

What do you think? Welcome to share your views in the comment area, let us explore the future direction of the blockchain industry together!

[Blockchain News] Heather Slavkin Corzo, policy director of the U.S. Securities and Exchange Commission (SEC), is about to leave and will be replaced by Corey Klemmer, a corporate finance consultant. This news surprised people in the blockchain circle. After all, the influence of this position on the cryptocurrency and blockchain industry cannot be underestimated. 😯

For the past three years, Heather has been one of the most trusted advisors to SEC Chairman Gary Gensler. Her departure will undoubtedly have a certain impact on the policy direction of the SEC. However, the appointment of the new policy director Corey Klemmer also makes us look forward to the future of the SEC.

Here, we would also like to thank Heather for her contribution to the protection of the investing public and the enhancement of the issuer's capital formation path. From money market fund reform, to shortening the settlement cycle, to strengthening corporate disclosure of major cybersecurity incidents, her work results are obvious to all.

So, what do you think of this personnel change? Welcome to speak freely in the comment area, let us discuss the future direction of the blockchain industry together.

[News] At the Runes Asia event on May 9, the founders of Pizza Ninjas, Blob, CyberKongz, and $PUPS had a wonderful conversation. They discussed how to use Rune Tokens to build a better community, why they chose to deploy $PUPS on Solana, and the story behind it. Pizza Ninjas said that they are committed to building Bitcoin native IP and will use ecological tokens to reward members who actively participate in the community. CyberKongz shared their process of joining the Ordinals ecosystem and how to distribute "Prometheus" through airdrops. The founder of $PUPS said that they chose to deploy $PUPS on Solana because Solana can provide better liquidity for $PUPS. The founder of Blob shared the story of their auction of Epic Satoshi at a price of 33.3 Bitcoins and revealed some new gameplay possibilities. This conversation undoubtedly provides us with some new insights into the blockchain industry. What do you think about these topics? Welcome to leave a message in the comment area! 😊

[News] ZK blockchain game ecosystem Tevaera announced its L0 token distribution plan on social platforms. Are you on the list? 😉 It is reported that 45% of the tokens will be allocated to the top 5,000 Rep score ranking members, while Guardian ONFTs Bridge users and Magical Phoenix NFT holders will airdrop 30% (weighted) and 15% (weighted) tokens respectively. In addition, Tevaera developers will also receive 10% of the token airdrop.

Tevaera integrated the ONFT standard and bridge system developed by LayerZero Labs 8 months ago, so as an ecological project, it is eligible for LayerZero token airdrops. This news is undoubtedly a surprise for Tevaera users and developers.

What do you think about this? Welcome to share your views in the comment area, let us discuss the development trend of the blockchain industry together!

【News】Bitcoin L2 projects are popping up like mushrooms after rain, but do you know what they are really like? Bitcoin's vision is to be universally accessible and adopted, and to do this it must scale to handle more traffic, and L2 is a good solution. However, at present, Bitcoin is neither optimistic nor ZK rollup is possible, so technically speaking, real Bitcoin rollups do not exist yet.

Bitcoin's development has exploded, and new primitives such as ordinals, runes, and BRC-20 are taking center stage, marking a major shift in the atmosphere of the Bitcoin ecosystem. In the Bitcoin ecosystem, L2 is now the new hot thing. Everyone wants a piece of Bitcoin L2, but what is the hype about?

The Bitcoin network is designed to prioritize security and decentralization, with trade-offs around its scalability and expressiveness as a blockchain. While this makes BTC a more valuable asset, it also means that the network is not an ideal infrastructure for building financial applications like Ethereum.

The Bitcoin community has been struggling with scalability issues, and transaction costs can reach tens of dollars during peak network traffic. Today, demand for Bitcoin block space is exploring new heights, driven by experiments like Ordinals, Runes, BRC-20, and more.

For years, the Bitcoin community has been actively working on improving transaction scalability. A key development in this area is the Lightning Network — a payment channel protocol that aims to enable faster and more affordable transactions by processing transactions outside of Bitcoin L1.

However, the Lightning Network may not be the final scaling solution for Bitcoin, and a better Bitcoin L2 is needed. Currently, the focus is on BitVM, a new model for executing Turing-complete contracts on Bitcoin that could pave the way for optimistic rollups on Bitcoin.

However, what is the end state of Bitcoin L2? The answer is, ZK-rollups! But building ZK-rollups on Bitcoin is not easy, or even technically feasible. It would require changing the Bitcoin network via a soft fork, which we all know is easier said than done.

Nonetheless, these are exciting times for the Bitcoin community.From the launch of Bitcoin spot ETFs to primitives like Ordinals, BRC-20s, and Runes, the Bitcoin ecosystem is experiencing unprecedented growth and innovation.

The prospect of Bitcoin L2 has increased people's excitement about the future of Bitcoin. What do you think of the potential impact of Bitcoin L2 on the overall adoption of BTC? Do you think they will continue to exist, or is it just a fleeting trend? Feel free to share your thoughts in the comments section! 😊【Original link】

[Crypto News] The popular crypto platform Pump.fun was attacked recently. The attacker used a vulnerability to participate in the meme coins released by the platform without limit. It is reported that the attacker stole about 12,300 SOL (about 1.9 million US dollars). The Pump.fun team has redeployed the contract and will resume trading in the next 7 days. To compensate users, the team will inject SOL liquidity greater than or equal to the token into the affected tokens within the next 24 hours. 😱

Interestingly, one theory points out that the attack may have been an insider crime, because the relationship between two developers was discovered by the founder, and one of them hacked into the platform to prevent the secret from being revealed. However, the authenticity of this statement has not been confirmed.

Pump.fun is a platform dedicated to hyping Meme, which was originally launched for Solana. On this platform, people can deploy tokens at a cost of less than $2. At present, Pump.fun is already the Memecoin platform with the largest traffic on the Solana ecosystem, and has added support for Ethereum L2 Blast.

However, the community has discussed this meme issuance product a lot, and many users said that they rarely make money on the platform. Some users believe that the emergence of Pump.fun makes the starting point of meme coin game lower and increases the difficulty of early control. On the other hand, some users believe that this is not the end of meme coins, and new and high-quality coin issuance mechanisms will appear in the future.

Will the attack on Pump.fun affect Solana's meme season carnival? Will there be new "Pump.fun" replacements in the ecosystem? These are all issues worthy of our attention. What do you think about this? Feel free to speak out in the comment area!