Headlines

Coinbase denies customer data leak, Au10tix employee credentials leak raises security concerns

Crypto exchange Coinbase today denied any breach of its customer data and responded to the leak of employee credentials of compliance platform Au10tix. Au10tix said that although the credentials had been leaked, there was no evidence that the data had been misused. The report said that these credentials could allow hackers to obtain sensitive information of users, such as name, date of birth and driver's license image. Au10tix has removed the relevant credentials and strengthened security measures to prevent similar incidents from happening again. Coinbase did not confirm whether it used Au10tix to store customer data, but insisted that no data leaks have been found so far.

▌Wintermute founder: SOL ETF is unlikely to be approved this year

Evgeny Gaevoy, founder and CEO of Wintermute, said on the X platform that the possibility of SOL ETF being approved this year is almost zero (it is quite stupid to wishfully think that this will become a priority for the Trump administration). Wintermute is a long-term supporter of SOL and ETH, but it should not be over-exaggerated. It is better to be realistic. The adoption of cryptocurrency takes time. Once you really see the inflow of funds into the ETH ETF, you will understand that even if the SOL ETF is approved, the inflow of funds will be less.

Earlier news came that asset management firm VanEck submitted the first Solana ETF application in the United States.

Quotes

As of press time, according to Coingecko data:

The latest transaction price of BTC is $61,567.68, with a daily change of +1.3%;

ETH's latest transaction price is $3443.92, with a daily change of +2.2%;

BNB's latest transaction price is $580.53, with a daily change of +1.4%;

SOL's latest trading price is $149.45, with a daily change of +9.3%;

DOGE’s latest trading price is $0.127, with a daily change of +3.5%;

XPR recently traded at $0.4748, with a daily change of +1.2%.

policy

▌Innovation Encryption Committee UK Head: The UK needs to act quickly to regulate encryption companies

The Labour Party, which is expected to win the upcoming general election, has not yet taken a clear stance on digital assets. Laura Navaratnam, head of UK policy at the Innovative Crypto Commission, said the new government needs to act quickly to ensure that Britain’s leadership in global crypto innovation is not weakened.

The UK’s crypto ecosystem has grown steadily over the past 15 years under the support of the Conservative government. Former Economic Secretary to the Treasury John Glen and his successors Andrew Griffith and Bim Afolami pledged to make the UK a global hub for crypto asset technology.

Navaratnam suggested that the new government should immediately focus on the following points: stablecoin regulation, pledge regulatory clarity, and financial promotion guidance. In addition, she warned that if the new government does not act quickly, the UK will lose its global innovation leadership.

▌Dragonfly Capital partner: The US SEC has made it clear that SOL is a security and will not abandon this decision

Hasseb Qureshi, partner at Dragonfly Capital, said that approval of the SOL ETF is unlikely to happen. He believes that VanEck's application for the SOL ETF may just be "buying goodwill" to lay the foundation for the development of similar products, because the U.S. Securities and Exchange Commission has made it clear that SOL is a security and the regulator will not give up this decision.

▌Biden campaign hires Coinbase advisory board member as 2024 election advisor

The Biden campaign hired Keisha Lance Bottoms as a senior adviser for the 2024 election. Lance Bottoms served as mayor of Atlanta from 2018 to 2022 and joined the Coinbase advisory board in April 2024 after she resigned as a White House adviser in 2023.

Foreign media The Hill reported on June 27 that Lance Bottoms will remain at Coinbase during President Biden’s campaign, which is expected to end when American voters go to the polls in November. The news media reported that the former mayor said cryptocurrency is a "non-political, unifying issue." It is unclear whether Lance Bottoms will provide advice to the Biden campaign team on cryptocurrency-related issues.

According to The Hill, Lance Bottoms said at the Stand With Crypto Atlanta event: "Cryptocurrency provides an opportunity to enhance financial freedom for communities that are typically unbanked and underbanked."

Bolivia lifts ban on Bitcoin and crypto payments

Bolivia has lifted its ban on Bitcoin and crypto payments, officially legalizing them for financial entities.

▌Paradigm urges European regulators to handle MEV issues “delicately”

Paradigm has submitted opinions to the European Securities and Markets Authority (ESMA) on preventing abuse in the crypto asset market. They pointed out that ESMA should avoid misapplying concepts from traditional financial markets to the underlying blockchain level when dealing with the maximum extractable value (MEV) to avoid inconsistencies and unexpected consequences. Paradigm calls on ESMA to have a deeper understanding of MEV and support innovative tools to address potential abuse risks.

Blockchain Applications

▌Opinion: Ethereum L2 ecosystem transaction throughput will exceed Solana 100 times in 5 years

Analyst Ryan Berckmans said that despite the bearish market, Ethereum's second-layer expansion ecosystem is growing rapidly. Berckmans pointed out that L2 protocols and EVM expansion platforms are rapidly gaining popularity, and Coinbase, Worldcoin and Immutable X have all launched EVM L2. He predicts that L2's transaction throughput will exceed Solana's by 100 times in the next five years. Currently, the total locked value of all L2 protocols is $42.86 billion, which has remained stable since March despite the decline in the crypto market.

▌Cardano integrates IBC protocol to enhance connectivity and join the cross-chain ecosystem

The Cardano Foundation announced the integration of the Inter-Block Chain Communication Protocol (IBC) to enable reliable transactions and data exchange across different blockchain networks to enhance connectivity and join the cross-chain ecosystem.

By bringing IBC functionality to Cardano, this solution could be used by projects seeking to build a bridge between the Cardano network and Cosmos SDK-based sidechains.

In addition to joining the cross-chain ecosystem, the implementation of IBC for Cardano also adds another option to connect Ethereum Virtual Machine (EVM)-based sidechains to Cardano. This will allow developers to seamlessly deploy EVM-based decentralized applications (DApps) on Cardano sidechains.

▌S&P Global Ratings joins Singapore's "Guardian Program" to promote digital transformation of financial markets

S&P Global Ratings announced that it has joined Singapore's "Guardian Program" to explore tokenization on public blockchains. The program is led by the Monetary Authority of Singapore (MAS) and brings together 18 financial institutions and regulators. S&P will focus on developing digital asset analysis frameworks and assessments in the fixed income sector. Several financial institutions are conducting fixed income-related trials, reflecting the financial market's push for digital transformation.

▌Decentralized cross-chain oracle network developer AnchorZero completes $8 million seed round of financing

AnchorZero, a decentralized oracle network developer, announced the completion of an $8 million seed round of financing, led by Bain Capital Crypto and Spark Capital, with participation from Ethereal Ventures, Robot Ventures, Mischief Fund, Pascal Capital, and Sarah Meyohas. The specific valuation information has not yet been disclosed. AnchorZero is a blockchain technology company specializing in the development of decentralized cross-chain oracle networks, providing secure and reliable price feed data services for smart contracts, allowing access to external data of smart contracts on multiple platforms, and also providing Web3 tax planning solutions.

Cryptocurrency

Coinbase and Stripe partner to expand global cryptocurrency adoption

Stripe and Coinbase announced a partnership to increase on-chain adoption and provide faster, cheaper financial infrastructure. Stripe will add support for Base to its suite of crypto products to provide users with faster, cheaper remittance services, while Coinbase will add Stripe's fiat-to-crypto on-ramp to Coinbase Wallet to allow users to instantly purchase cryptocurrencies using credit cards and Apple Pay.

▌A proposed Bitcoin and gold ETF may be launched on September 9

A proposed exchange-traded fund (ETF) filed its prospectus on Thursday, aiming to give traders and investors exposure to both bitcoin and gold without having to purchase either asset. Launched by Tidal Investments and Quantify Chaos Advisors, the STKD Bitcoin & Gold ETF aims to provide investment opportunities in both bitcoin and gold price performance through both bitcoin futures and ETFs and gold futures and ETFs.

According to the prospectus, the strategy is based on the idea that investing in a Bitcoin strategy and a gold strategy together may bring complementary benefits. It is intended to reduce the impact of short-term market fluctuations on overall investment results, thereby potentially providing a more stable investment trajectory. The document specifies the effective date of the ETF as September 9, 2024, but does not include a stock symbol or any related fees.

▌BlackRock IBIT holdings remained unchanged for two consecutive trading days

BlackRock's official spot Bitcoin ETF data shows that as of June 26, IBIT's market value reached US$18,584,300,966.09, and its holdings remained at 305,612.3283 BTC, which has not changed for two consecutive trading days.

▌BlackRock: Investors use Bitcoin to hedge against geopolitical uncertainty

According to Bitcoin Archive’s post on the X platform, BlackRock said Bitcoin is an “emerging asset” that investors use to hedge against geopolitical uncertainty.

▌Bloomberg ETF Analyst: T-Rex applied for 2x Microstrategy stock MSTR ETF

Bloomberg analyst Eric Balchunas posted on the X platform that T-Rex has just applied for a 2x Microstrategy stock MSTR ETF, which will almost certainly become the most volatile ETF in the history of the United States, with volatility likely to be about 20 times that of SPX.

21Shares Files 8-A12B for Its Spot Ethereum ETF

ETF analyst Henry Jim wrote that 21Shares submitted 8-A12B filing for its spot Ethereum ETF.

SOL falls below $150

The market shows that SOL fell below $150 and is now trading at $149.99, with a daily increase of 9.36%. The market is volatile, so please do a good job of risk control.

▌Yesterday, GBTC funds had a net outflow of US$11.4 million

According to Farside Investors' monitoring, data from the US spot Bitcoin ETF yesterday (June 26) showed that GBTC had a net outflow of US$11.4 million; BITB had a net inflow of US$8 million.

Important economic developments

▌The probability of the Federal Reserve keeping interest rates unchanged in August is 89.7%

According to CME's "Fed Watch": the probability of the Fed keeping interest rates unchanged in August is 89.7%, and the probability of a 25 basis point rate cut is 10.3%. The probability of the Fed keeping interest rates unchanged in September is 35.9%, the probability of a cumulative 25 basis point rate cut is 57.9%, and the probability of a cumulative 50 basis point rate cut is 6.2%.

▌The three major U.S. stock indexes closed higher, with popular technology stocks rising and falling

The three major U.S. stock indexes closed higher, with the Dow Jones Industrial Average up 0.09%, the Nasdaq up 0.3%, and the S&P 500 up 0.09%. Hot technology stocks rose and fell, with Amazon up more than 2% and Nvidia down nearly 2%. Computer hardware, solar energy, and software applications led the gains, with American Software up more than 8%, AMD up more than 7%, AMD up more than 6%, and Salesforce and Sunrun up more than 4%.

▌IMF: The Fed should wait until at least the end of 2024 before lowering its policy rate

The International Monetary Fund expects US PCE inflation to return to its target level of 2% by mid-2025, and the Federal Reserve should wait until at least the end of 2024 before lowering its policy rate.

Golden Encyclopedia

▌What is an infinite coin minting attack?

Infinite minting attacks occur when an attacker manipulates the contract code to continuously mint new tokens beyond the authorized supply limit. Malicious actors may profit from such attacks by selling illegally created tokens or interfering with the normal operation of the affected blockchain network. The prevalence of infinite minting attacks highlights the importance of conducting thorough code audits and incorporating security measures into smart contract development to prevent such vulnerabilities.

Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness.