Happy Friday! Binance Bytes is an initiative by the Research team to provide a quick round-up of the week.
Highlights 🧵:
1/ Mt. Gox has started repayment distributions to creditors in BTC and BCH, transferring 47,228 BTC from its cold wallet to Bitbank and other wallets. The defunct exchange will be repaying over 140,000 BTC to victims of the 2014 hack after nearly a decade, causing marketwide concerns about potential massive selling pressure in the coming months.
2/ Pumpfun surpassed Ethereum network's daily revenue on Jul 2 with approximately US$2M in fees generated on a single day. Pumpfun's cumulative revenue has soared over US$51.3M since its inception in March, with massive retail interest in memecoin trading on the Solana blockchain.
3/ The European Union’s Markets in Crypto Assets (MiCA) regulation for stablecoins entered into force on 29 Jun, with Circle being the first licensed stablecoin issuer under it. The MiCA regulation institutes uniform EU market rules for crypto-assets. "Achieving MiCA compliance through our French EMI license is a significant step forward, not just for Circle, but for the entire digital financial ecosystem in Europe and beyond," said Dante Disparte, Chief Strategy Officer and Head of Global Policy at Circle.
Check out our latest publications from this week 🔎: Monthly Market Insights - July 2024
