Today's news tips:
Two important political meetings related to the crypto industry in the United States will be held tonight, including a hearing on digital commodity regulation and a cryptocurrency roundtable.
The U.S. House of Representatives will vote on SAB 121 in the early morning of July 11, and it is expected that the chances of overturning Biden’s veto are slim.
BlackRock and Invesco Galaxy Submit Ethereum Spot ETF Securities Registration Application to the U.S. SEC
Mocaverse: MOCA airdrop claims will open on July 11
Worldcoin announces World Chain developer preview
The “German Government” wallet address once again transferred out about 5853.49 BTC
Coinbase will re-enable Stargate Finance (STG) transactions on the Ethereum network
CryptoQuant Research Director: New Bitcoin Whales Have Realized Losses of $1 Billion in the Past Two Weeks
Regulatory News
Yellen says she has not provided guidance to the SEC and CFTC on cryptocurrency regulation
Fox Business Channel reporter Eleanor Terrett tweeted that U.S. Treasury Secretary Yellen testified before the U.S. House Financial Services Committee that she did not provide guidance or coordination to the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) on cryptocurrency regulation.
BlackRock and Invesco Galaxy Submit Ethereum Spot ETF Securities Registration Application to the U.S. SEC
Public documents show that BlackRock and Invesco Galaxy have submitted an Ethereum spot ETF securities registration application (Form 8-A12B) to the U.S. SEC. The submission of the Form 8-A document means that the issuer can trade on the exchange once the product is approved, and it also marks progress in the potential approval of the Ethereum spot ETF.
The U.S. House of Representatives will vote on SAB 121 in the early morning of July 11, and it is expected that the chances of overturning Biden’s veto are slim.
According to Fox Business reporter Eleanor Terrett on X platform, the U.S. House of Representatives will vote on SAB 121/HJ Res. 109 (Crypto Custody Accounting Standards Announcement) at 4 pm EST on July 10 (04:00 Beijing time on July 11), but lawmakers are not expected to get enough votes to reach the two-thirds majority required to overturn Biden's veto.
Two important political meetings related to the crypto industry in the United States will be held tonight
Fox Business Channel reporter Eleanor Terrett said on the X platform that at 10:00 EST today (22:00 Beijing time today), the Democrats of the U.S. Senate Agriculture, Nutrition and Forestry Committee/Republicans of the Senate Agriculture Committee held a digital commodity regulation hearing with Rostin Behnam, Chairman of the U.S. Commodity Futures Trading Commission (CFTC) at 10 a.m. In addition, at 10:00 EST today (22:00 Beijing time today), U.S. Democratic Congressman Ro Khanna held a cryptocurrency roundtable with entrepreneur Mark Cuban, Democrats, White House staff and industry leaders.
AI
Microsoft and Apple give up observer seats on OpenAI board
According to the Financial Times, Microsoft and Apple gave up their observer seats on the OpenAI board of directors under antitrust scrutiny. Microsoft announced its immediate withdrawal, while Apple did not participate in the observer role. OpenAI will keep in touch with partners and investors through regular meetings.
Project News
Arkham CEO: Plans to start offering paid services later this year, core features will remain free
According to The Block, Arkham Intelligence CEO Miguel Morel said that the platform is expected to start offering paid services later this year, but its core functions will remain free. He added that APIs, visualization or tracking tools are not necessary components of the product, and the company may charge for access to these products in the future. At the same time, Arkham will support the TON blockchain in the coming weeks and plans to support the Solana blockchain by the end of August.
Coinbase will re-enable Stargate Finance (STG) transactions on the Ethereum network
Coinbase Assets announced on X platform that Coinbase will re-enable Stargate Finance (STG) trading (ERC-20 token) on the Ethereum network. Do not send this asset through other networks, otherwise your funds may be lost. If liquidity conditions are met, trading will begin on or after 0:00 on July 11th, Beijing time. Once the supply of this asset is sufficient, the STG-USD trading pair will be launched in stages. Support for STG may be limited in some supported jurisdictions.
TON blockchain will release a new Layer2 network based on Polygon technology
According to CoinDesk, the blockchain team behind the Telegram messaging platform, The Open Network (TON), said they are about to launch their own Layer 2 network based on Polygon technology. The team announced the news at the Ethereum Community Conference (EthCC) held in Brussels, Belgium on Tuesday.
The new protocol, called TON Applications Chain (TAC), will utilize Polygon’s Chain Development Kit (CDK), a customizable toolkit that allows developers to create their own second-layer blockchains based on Polygon’s zero-knowledge technology, as well as Polygon’s AggLayer, an interoperability layer designed to address blockchain fragmentation.
According to its press release, TAC “aims to enable EVM-based decentralized applications to plug into the TON ecosystem,” while allowing Ethereum developers to build new programs for Telegram users. The TON team wrote in the press release: "TAC will significantly improve the liquidity access of the TON ecosystem and accelerate the adoption of decentralized finance (DeFi); in addition to DeFi, TAC will also provide various services on the TON blockchain. paves the way for innovative applications such as gaming and decentralized identity solutions.”
Update: According to a post by Anthony Tsivarev, Director of Ecosystem Development at the TON Foundation, the TON Applications Chain is not officially developed by TON, but is independently developed by a third-party team on TON. In addition, Decrypt reported that a TON representative confirmed to Decrypt that the Layer-2 chain built on TON is called "Official Layer-2 launched in cooperation with TOP (The Open Platform)". TOP developed the Wallet Bot mini-application for Telegram and is working on other initiatives related to TON and Telegram.
Mocaverse: MOCA airdrop claims will open on July 11
Mocaverse, a Web3 project under Animoca Brands, said on the X platform that the MOCA airdrop claim will open on July 11, and the MOCA checker website is now online. The MOCA airdrop aims to recognize and reward active people who have a firm belief in its long-term vision.
FTX former executive Nishad Singh and co-founder Gary Wang will be sentenced on October 30 and November 20 respectively
Court records show that former cryptocurrency exchange FTX executive Nishad Singh will be sentenced on October 30. He testified against FTX co-founder Sam Bankman-Fried, and another co-founder Gary Wang will be sentenced on November 20.
Worldcoin announces World Chain developer preview
According to Cointelegraph, Worldcoin, a cryptocurrency and digital identity project co-founded by OpenAI CEO Sam Altman, announced the launch of the World Chain developer preview, which provides global developers with the opportunity to start building World Chain before the launch of the World Chain mainnet. Remco Bloemen, head of the Worldcoin Foundation protocol, said that through the World Chain developer preview, developers will be able to deploy infrastructure on the "gated mainnet" because World Chain skipped the testnet.
Bloemen mentioned that developers have been testing the Ethereum Chain mainframe on OP Stack, an open source development framework maintained by the Optimism Collective as a public resource for the Ethereum and Optimism ecosystems.
Expected to be fully launched sometime in 2024, World Chain is a blockchain integrated with Worldcoin’s identity protocol, World ID, designed to enable real human transactions. The project aims to provide an ecosystem where people can use a universal World ID as a global digital passport.
Multiple EthCC attendees robbed in Brussels, allegedly “thugs targeted crypto people”
EthCC attendee Evan L. (@evanincrypto) posted on the X platform that he was robbed in Brussels and suffered a serious knee injury, but was otherwise fine. This was his first visit to Brussels and Europe. He stressed that this incident does not represent the situation of the entire country and reminded everyone to pay attention to safety. According to the comments below his post, this is not an isolated case, and several people have had the same experience.
In addition, KILT Protocol Growth Director posted on the X platform: “Be careful when hanging out in Brussels and around the EthCC venue, many thugs target cryptocurrency people. Someone just tried to attack and rob me, and I had to beat up the bastard. I also heard about similar things from another person who was robbed.”
Aave DAO and MakerDAO clash over $2 million profit-sharing agreement
According to DL News, MakerDAO's lending protocol Spark (a fork of Aave v3) has been accused of violating its agreement with Aave DAO. According to representative Marc Zeller, in February 2023, Phoenix Labs, the company behind Spark, proposed to share 10% of the protocol's profits over two years as a thank you for using the Aave code. The proposal estimated that Spark would pay Aave a total of $2 million. But Zeller said Spark did not fulfill its obligations under the agreement. He said: "Due to some creative accounting operations by MakerDAO, the actual revenue share is closer to 1%."
Binance to Support Render Token Swap and Brand Upgrade to RENDER
According to the Binance announcement, Binance will support the token swap and brand upgrade of Render (RNDR) to Render (RENDER). Binance will stop all existing RNDR spot trading pairs at 11:00 (Eastern Time Zone 8) on July 22, 2024, and automatically cancel all pending orders; RENDER spot trading will be opened at 16:00 (Eastern Time Zone 8) on July 26, including RENDER/BTC, RENDER/USDT and other trading pairs.
Binance will perform wallet maintenance on July 17, suspending all network deposits and withdrawals at 15:00 on the same day.
Binance will perform wallet maintenance at 15:00 (ET on July 17, 2024). To support this maintenance, Binance will suspend deposits and withdrawals for all networks at 15:00 (ET on July 17, 2024). The maintenance is expected to take 1 hour, and deposits and withdrawals will be automatically resumed after the maintenance is completed.
Masa launches AI data network with dual token reward model on Bittensor, validators or miners can receive MASA and TAO rewards at the same time
According to Masa's official announcement, Masa will introduce the LLM-driven AI data network to Bittensor and launch the first dual-token reward model (MASA-TAO). The Masa Bittensor subnet combines the technology and community of Masa and Bittensor to bring the world's data into Bittensor's global brain. As a subnet validator or miner, you can get both $MASA and $TAO rewards.
Wasabi Wallet: A coordinator called WasabiCoordinator is stealing user funds, and a new version will be released soon to prevent such attacks
According to a message posted on Twitter by Wasabi Wallet, users reported that a coordinator named WasabiCoordinator gradually stole user funds through complex attacks. Wasabi Wallet recommends that all users connected to the coordinator immediately stop CoinJoin operations and said that a new version will be released soon to prevent such attacks.
Binance will remove ALGO/ETH, DYM/FDUSD, SXP/BNB spot trading pairs on July 12
According to the Binance announcement, Binance will remove the following spot trading pairs and stop trading at 11:00 on July 12, 2024 (Eastern Time 8): ALGO/ETH, DYM/FDUSD, SXP/BNB.
Financing News
Artificial intelligence startup Captions completes $60 million financing, led by Index Ventures
According to Bloomberg, artificial intelligence startup Captions has completed a $60 million financing round, led by Index Ventures, with participation from Kleiner Perkins, a16z, Sequoia Capital, and actor Jared Leto. This brings its total financing to $100 million and its valuation to $500 million. Captions was founded in 2021 and uses artificial intelligence technology to help people create, edit, and distribute videos.
Blockchain startup Rome completes $9 million in financing, aims to provide services for Ethereum Layer2 through Solana
According to CoinDesk, blockchain startup Rome announced that it has completed a $9 million financing round. Investors include Hack VC, Polygon Ventures, HashKey, Portal Ventures, Bankless Ventures, Robot VC, LBank, Anagram, TRGC, Perridon Ventures and other institutions, as well as angel investors such as Anatoly Yakovenko, Nick White, Santiago Santos, Comfy Capital, Austin Federa, and Jason Yanowitz.
Important data
The total net inflow of the U.S. Bitcoin spot ETF yesterday was about 216 million U.S. dollars, with net inflows for three consecutive trading days
According to SoSoValue data, yesterday (July 9, Eastern Time), the total net inflow of Bitcoin spot ETFs was $216 million. Yesterday, Grayscale ETF GBTC had a net outflow of $37.4956 million, and the current historical net outflow of GBTC is $18.615 billion. The Bitcoin spot ETF with the largest net inflow in a single day yesterday was BlackRock ETF IBIT, with a net inflow of $121 million in a single day, and the current total net inflow of IBIT is $18.047 billion. The second is Fidelity ETF FBTC, with a net inflow of $90.9503 million in a single day, and the current total net inflow of FBTC is $9.513 billion. As of press time, the total net asset value of the Bitcoin spot ETF was US$50.794 billion, the ETF net asset ratio (market value as a percentage of the total market value of Bitcoin) was 4.45%, and the historical cumulative net inflow has reached US$15.274 billion.
A certain whale/institution purchased 3257.8 ETH again after half a year, and currently holds 42,800 ETH
According to on-chain analyst Ember’s monitoring, the whale/institution that spent 50.14 million USDT to buy 20,718 ETH at an average price of $2,420 in January bought ETH again after half a year. Two hours ago, it withdrew 3,257.8 ETH (about $10 million) from Binance at a price of $3,069. The whale/institution currently holds a total of 42,800 ETH (worth about $131.27 million).
CryptoQuant Research Director: New Bitcoin Whales Have Realized Losses of $1 Billion in the Past Two Weeks
Julio Moreno, head of research at CryptoQuant, said on the X platform that new Bitcoin whales realized a $1 billion loss in the past two weeks, after they made profits when they sold in the first quarter. Old whales realized profits in early June. Data shows that new whales made a lot of profits in March, while old whales cashed in profits in early June.
The “German Government” wallet address once again transferred out about 5103.49 BTC
Arkham data shows that 25 minutes ago, the wallet address marked as "German Government" on the chain transferred 5103.49 BTC. Among them, 500 BTC were transferred to Coinbase, 750 BTC were transferred to Kraken, 536.108 BTC were transferred to Cumberland DRW address, 1127.381 BTC were transferred to Flow Traders address, 1500 BTC were transferred to the suspected B2C2 Group address, and 590 BTC were transferred to the address starting with bc1qu3.
Later in the day, news came out that the “German government” wallet address transferred another 750 BTC to a suspected B2C2 Group address.
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