Today's news tips:
Trump: If elected, will consider appointing JPMorgan Chase CEO as Treasury Secretary
Insider: The first Ethereum spot ETF may be launched on July 23
FTX reaches $12.7 billion settlement with U.S. CFTC
MtGox once again repaid BTC and BCH to creditors, and 13,000 creditors have received repayment
Blast removes "L2" from X usernames and shortens withdrawal time from 14 days to 7 days
Craig Wright officially admits that he is not Satoshi Nakamoto
MakerDAO launches NewGovToken activation function, activators will receive 15% of all SPK token rewards
The U.S. Bitcoin spot ETF had a total net inflow of US$423 million yesterday, continuing its net inflow for 8 consecutive days
Regulatory News
Trump: Will not seek to remove Fed Chairman Powell before the end of his term, and will consider appointing JPMorgan Chase CEO as Treasury Secretary if elected
In an interview with Bloomberg, Trump said he would not seek to remove Federal Reserve Chairman Powell before the end of his term. Powell's term will expire in 2026, and his seat on the Federal Reserve Board will expire in 2028. Trump also said that the Fed should give up on cutting interest rates before the November 5 election. Powell was asked several times last week whether the election would affect the Fed's decision on whether to cut interest rates. Powell said again on Monday that he and other central bank policymakers would not consider political factors when making decisions. In addition, Trump said that if he wins the election, he will consider appointing JPMorgan Chase CEO Jamie Dimon as Treasury Secretary.
Insider: The first Ethereum spot ETF may be launched on July 23
According to the Wall Street Journal, people familiar with the matter said that the U.S. Securities and Exchange Commission has informed several asset management companies that the first spot Ethereum ETFs may be launched next Tuesday (July 23). After asset management companies submit the last round of filings this week, the agency is expected to announce the effectiveness of the ETF registration statement next Monday. Once the statement takes effect, the spot Ethereum ETF can begin trading.
Hong Kong Treasury Department and Hong Kong Monetary Authority: Will continue to work with other regulators to jointly build a consistent virtual asset regulatory framework in Hong Kong
The Hong Kong Treasury Department and the Hong Kong Monetary Authority jointly issued a consultation summary on the legislative proposals for implementing a regulatory regime for issuers of fiat stablecoins in Hong Kong. It was mentioned that, considering that the field of stablecoins is still in its infancy, a considerable majority of respondents agreed to the proposal to enact new legislation to implement a regulatory regime for issuers of fiat stablecoins, as well as to exclude the issuance of fiat stablecoins from the regulatory regime for securities and stored value payment instruments. The Hong Kong Monetary Authority will continue to work with other regulators to jointly build a consistent virtual asset regulatory framework in Hong Kong to avoid regulatory arbitrage. Most respondents support the requirement that the total value of the reserve assets of fiat stablecoins must be fully reserved at all times, and agree that this is a core element to support the stability mechanism of stablecoins.
NFT
Trump says he plans to launch fourth NFT series
According to CoinDesk, according to an interview with Donald Trump published by Bloomberg Businessweek on Tuesday, Trump plans to launch a fourth NFT series. In the interview, Trump said that his previous NFT collections were "very successful" and sold out within a day: "All sold out: 45,000 cards. I launched it three times, and I will launch it again because people want me to launch it again." Trump previously revealed at a party for his NFT holders at Mar-a-Lago in May that he planned to release a fourth NFT series, but he did not make a commitment at the time. He said: "I believe in supply and demand. As you know, the first series did well, the second series did well, and the third series did well. Maybe at some point things will get better."
"Crypto is not going away, it's amazing," Trump said of cryptocurrencies in an interview with Bloomberg Businessweek, adding that he "met a lot of people in the crypto industry" at the fundraiser, calling them "top talent." "We have a great foundation," Trump said of the U.S. cryptocurrency industry. "It's a baby. It's still in its infancy. But I don't want another country to take over this space."
Ctrip's NFT series "Trekki" will be officially terminated on August 1
According to Trekki NFT's official Twitter account, the NFT series "Trekki" project incubated by Ctrip Group will be officially terminated on August 1, 2024. The official website, discount page and coupons, and Trekki NFT benefit collection functions will be retained until July 1, 2025. All development functions and community operations in the second phase will be terminated. The Trekki team said that it does not rule out the possibility of restarting the project in the future.
FTX reaches $12.7 billion settlement with U.S. CFTC
According to The Block, the crypto exchange FTX and the U.S. Commodity Futures Trading Commission (CFTC) have agreed to a $12.7 billion settlement, which is currently awaiting approval from a bankruptcy judge. According to a court document filed with the U.S. Delaware Bankruptcy Court on July 12, the two parties have been in negotiations over the past few months. The CFTC filed a fraud lawsuit against FTX, former FTX CEO SBF, and its affiliate Alameda in 2022, claiming that their actions caused customers to lose $8 billion. The CFTC initially requested $52.2 billion in compensation. As part of the settlement, the CFTC agreed that as long as FTX complies with its restructuring plan, the CFTC will not receive any compensation. FTX will pay up to $12.7 billion in compensation to creditors, depending on available funds. A hearing on the settlement motion will be held on August 6. FTX filed for bankruptcy at the end of 2022. In May of this year, the FTX bankruptcy administrator announced a restructuring plan, and creditors will receive full cash repayment. Under the plan, creditors with claims of less than $50,000 will be eligible for 118% compensation within 60 days of court approval.
Project News
MtGox once again repaid BTC and BCH to creditors, and 13,000 creditors have received repayment
According to the announcement by lawyer Nobuaki Kobayashi, the MtGox custodian, on July 16, 2024, the MtGox custodian repaid Bitcoin (BTC) and Bitcoin Cash (BCH) to some creditors through designated cryptocurrency exchanges, following July 5, 2024. Currently, more than 13,000 creditors have received repayment. Repayment of other creditors will be carried out as soon as possible after confirming the validity of the account, the exchange's acceptance of the agreement, the completion of the custodian's discussions with the exchange, and confirmation of security. Earlier this week, it was reported that Kraken has received creditor funds from the Mt. Gox custodian, and it is expected to take 7-14 days to credit the funds to the creditor's account.
Trump put the text "FEAR NOT" on the banner of his personal official website, and the related Meme coins soared
Trump wrote "FEAR NOT" on the banner of his personal official website. Dexscreener data shows that the meme coin FEAR NOT on the Ethereum chain has briefly exceeded $0.00005 and is now trading at $0.00004740, a 24-hour increase of 654%. The current total market value of FEAR NOT is $19.9 million.
Blast removes "L2" from X usernames and shortens withdrawal time from 14 days to 7 days
According to Cointelegraph, Ethereum Layer2 network Blast announced on the X platform that it has cut its withdrawal time in half, from 14 days to 7 days. The network previously required longer withdrawal times "in order to provide a buffer for Lido withdrawals", and this long wait is no longer necessary. The team posted the message through the new X account @blast, which replaced the previously used @blast_l2 account. The previous account announced the existence of the new account in its profile.
In a related post, the team said Blast core contributors have been monitoring withdrawals for the past four months and now conclude that "a smaller buffer is sufficient to handle almost all withdrawal activity." It warned that some withdrawals may still take longer than seven days, although this will only happen in "rare cases." Meanwhile, deposits from Ethereum to Blast still only take "a few minutes" to process. Some Blast critics have noted the change in the protocol's name on X.
Former Aave contributor and X user Jim speculated that this means Blast will no longer be Ethereum's Layer 2. "Blast changed its name from @Blast_L2 to @blast and now calls itself a 'full-stack chain'. This is the first rollup we have seen to leave Ethereum and become an independent chain... It seems that Ethereum consistency is always just a gimmick." Both Blast X accounts now provide links to the June 26 "vision" statement, which claims that Blast will become a "full-stack chain" in the future.
Bloomberg Chinese publisher publicly apologizes for the article titled "Zhao Changpeng's Ponzi Scheme" published in July 2022
Bloomberg Businessweek/Chinese version issued a statement today saying: "This magazine made a serious mistake in the 250th issue (July 6, 2022) and published a false and unfounded cover headline. This magazine mistakenly wrote "Zhao Changpeng's Ponzi Scheme". This magazine unreservedly retracts and withdraws this offensive statement and apologizes to Mr. Zhao Changpeng and Binance."
It is reported that the original English text of Bloomberg Businessweek was published on June 24, 2022. The title was actually "Can Crypto's Richest Man Stand the Cold?", but Bloomberg Chinese published it with a more sensational title: "Zhao Changpeng's Ponzi Scheme", which led Zhao Changpeng, then CEO of Binance, to file a lawsuit against the publisher of the Chinese version of Bloomberg.
Craig Wright officially admits that he is not Satoshi Nakamoto
Craig Wright, known as "Australian Satoshi", officially issued a statement admitting that he is not Satoshi Nakamoto, the creator of Bitcoin, nor the author and copyright owner of the Bitcoin white paper. According to previous news, Craig Wright was handed over to British prosecutors by a judge of the London High Court for suspected perjury. Judge James Mellor pointed out in his ruling that Wright made extensive and repeated false statements to support his false claims, and decided to submit the case to the British Crown Prosecution Service (CPS) to consider whether to charge him with perjury.
Deribit to launch Bitcoin and Ethereum options expiring in November to bet on US election results
According to The Block, crypto derivatives exchange Deribit will launch Bitcoin and Ethereum options expiring on November 8, allowing investors to bet on the impact of the November 5 U.S. election on the crypto market, speculate and hedge. These trading products will go live on Thursday, July 18.
LI.FI: Smart contract vulnerabilities have been contained and users are no longer at risk
LI.FI, a cross-chain transaction aggregator, said in a statement that the smart contract vulnerability that occurred earlier today has been contained and the affected smart contract has been partially disabled. Users are no longer at risk. The affected wallets are limited to wallets with unlimited authorization, and the number is very small. LI.FI: Now fully normal operations have been restored, and bridge and exchange operations on most cooperative protocols have been restarted.
According to previous news, LI.FI has lost more than 10 million US dollars due to vulnerabilities.
Uniswap Labs: Uniswap extension now available to all users
According to the official Twitter account of Uniswap Labs, the Uniswap extension is now available to all users and can be downloaded from the Google Chrome app store. The extension supports 11 blockchain networks, including Ethereum, Base, Arbitrum, Optimism, Polygon, Blast, ZKsync, Zora Network, BNB Chain, Avalanche, and Celo. The plug-in allows users to exchange cryptocurrencies, mint coins, and view all tokens in the browser sidebar. The extension provides MEV protection, faster quotes, and cross-chain asset viewing capabilities, aiming to provide users with the best exchange experience. Users can call the extension by pressing cmd/ctrl + shift + U.
Tools for Humanity Announces Extension of Token Lock-up Period for Early Worldcoin Contributors
According to the official Worldcoin blog, Tools for Humanity announced an extension of the token lock-up period for early Worldcoin contributors. Starting July 24, 2024, the WLD token lock-up period for Tools for Humanity team members and investors will be extended from the original 3 years to 5 years.
Polygon launches new ZK proof system “Plonky3” as an open source toolkit
According to CoinDesk, Polygon Labs has launched its latest zero-knowledge proof system "Plonky3", which is released as an open source toolkit. Plonky3 is designed to be more flexible, allowing ZK developers to build virtual machines based on ZK cryptography. Polygon co-founder Daniel Lubarov said that Plonky3 is more universal than Plonky2, which was launched in 2022. The system is designed to ensure that transactions are executed correctly or blockchain status is updated by generating summaries to prove off-chain transactions.
OKX Web3 wallet now supports TON network, and officially completes 100 popular public chain accesses
According to official news, OKX Web3 wallet now supports TON network. Currently, both the OKX Web3 wallet App and plug-in have been launched on the TON mainnet. Users do not need to configure manually, and can switch to TON with one click to manage the corresponding currencies, transfer and interact with ecological DApps. In the future, OKX Web3 wallet will continue to update TON-related functions and launch TON ecological activities. It is reported that this access to TON also marks the official access of OKX Web3 wallet to 100 popular public chains. Users can use the OKX Web3 wallet to switch popular public chains seamlessly and interact with various DApps. OKX Web3 wallet is an industry-leading one-stop Web3 portal, which now supports 100 popular public chains, with unified App, plug-in and web pages.
Standard Chartered-backed Zodia Markets announces acquisition of Elwood Technologies’ OTC unit
According to CoinDesk, Standard Chartered-backed cryptocurrency trading company Zodia Markets said it is acquiring the over-the-counter trading division of Elwood Technologies, confirming media reports that the division is being sold and that sales negotiations are underway. The company said on Monday that after transferring the business, Elwood, backed by billionaire Alan Howard, will focus on its trading technology software as a service (SaaS) products and services. Zodia CEO Usman Ahmad said Zodia Markets' OTC business currently handles up to $60 million in trading volume per day. He did not disclose how many customers Zodia might get from the deal, but expected "daily trading volume to increase significantly." He also declined to disclose the financial terms of the deal.
Binance will remove ICP/BNB and MAV/TUSD spot trading pairs
According to the official announcement of Binance, based on the recent review results, Binance will remove the following spot trading pairs and stop trading at 11:00 on July 19, 2024 (Eastern Time 8): ICP/BNB, MAV/TUSD.
MakerDAO launches NewGovToken activation function, activators will receive 15% of all SPK token rewards
Rune Christensen, founder of MakerDAO, said on the X platform that MakerDAO has launched the NewGovToken activation function. When the Spark sub-DAO is launched, NewGovToken holders will be able to activate their NewGovToken to receive SPK rewards. NewGovToken activators will receive 15% of all SPK token rewards. NewGovToken can be obtained by converting MKR at a ratio of 1:24,000, and will be launched after Endgame is launched. There is no lock-up period or additional risk for activating NewGovToken, and it can be deactivated instantly at any time. Other rewards can also be selected in the future, including stablecoin rewards and 5% token rewards for all other sub-DAOs launched. The purpose of NewGovToken activation is to incentivize long-term participation in governance-in the future, delegation can be made while activating NewGovToken.
Financing News
Crypto AI startup Mira completes $9 million seed round, led by Bitkraft Ventures and Framework Ventures
According to The Block, Mira, a crypto AI startup focused on decentralized machine learning infrastructure, has emerged from stealth mode and completed a $9 million seed round of financing co-led by Bitkraft Ventures and Framework Ventures. Mira's co-founders Sidhartha Doddipalli and Karan Sirdesai said the platform is designed to help developers quickly build AI-native applications, and more than a dozen projects have used Mira's infrastructure to develop AI applications. Mira plans to launch a blockchain to record platform transactions in the future. Mira currently has 25 employees in Singapore and India, and Sirdesai plans to recruit at least 5 more engineers to expand the team.
Important data
The U.S. Bitcoin spot ETF had a total net inflow of US$423 million yesterday, continuing its net inflow for 8 consecutive days
According to SoSoValue data, yesterday (July 16, Eastern Time), the total net inflow of Bitcoin spot ETFs was $423 million. Yesterday, Grayscale ETF GBTC had a net outflow of $0.00 per day, and the current historical net outflow of GBTC is $18.638 billion. The Bitcoin spot ETF with the largest net inflow yesterday was BlackRock ETF IBIT, with a net inflow of $260 million per day, and the current total net inflow of IBIT is $18.639 billion. The second largest was Fidelity ETF FBTC, with a net inflow of $61.053 million per day, and the current total net inflow of FBTC is $9.816 billion. As of press time, the total net asset value of the Bitcoin spot ETF was US$58.462 billion, the ETF net asset ratio (market value as a percentage of the total market value of Bitcoin) reached 4.58%, and the historical cumulative net inflow has reached US$16.535 billion.
Polymarket’s July trading volume reached $118 million, setting a new monthly record
Dune data shows that as of now, the decentralized prediction market Polymarket's trading volume in July has reached 118 million US dollars, setting a monthly record high.
86 addresses control at least 10.36% of the Meme tokens FEAR NOT on the Ethereum chain
According to on-chain analyst @ai_9684xtpa, 86 addresses control at least 10.36% of the Meme token FEAR NOT on the Ethereum mainnet, including the TOP1 & TOP2 holding addresses, which hold more than 43.6 billion tokens. One of the sources is the address 0x95905ac0ec8b29222763C54f8de8099FFa6Ae54b, which spent 1.0196 ETH to buy 4.75 billion FEAR NOT after the token was launched, with an average price of $0.0000007496. Phase 1 distribution: Address 0x959...Ae54b has distributed tokens to 14 addresses in the past eight hours, of which the TOP1 & TOP2 holding addresses each hold 4.045 billion tokens, and none of them have been transferred or sold yet. Second phase distribution: The remaining 12 addresses re-accumulated 2.5-5 billion FEAR NOT from 3-8 addresses, and then redistributed the tokens to five new addresses in the past four hours. These relatively small addresses were used to ship in batches in Uniswap. The number of addresses repeating the above path may be far more than 86.
PANews APP has updated its functions, download and experience it now!
【Comment】Speak freely and exchange views
【Floating window】Reading interrupted, return at any time
【Search within the article】Quickly locate and get to the core