Compiled by: Luan Peng, ChainCatcher
Important Information:
Musk: Yes, I created a political action committee, but the donations are "far less" than $45 million per month
South Korea’s first cryptocurrency regulatory framework takes full effect, with a focus on investor protection
CryptoQuant founder: Bitcoin retail investor demand is at a 3-year low
Putin: Russia must "seize the moment" to create conditions for the circulation of digital assets
Data: $132.49 million worth of tokens will be unlocked next week
Trump formally announces his acceptance of the Republican presidential nomination
Greeks.live: 21,000 BTC options and 140,000 ETH options expire
US Senator: Trump 'sees potential in Bitcoin as savings technology'
What important events have occurred in the past 24 hours?
Musk: Yes, I created a political action committee, but the donations are "far less" than $45 million per month
Musk responded to the news about political donations on X. He said that he did create a political action committee (PAC) focused on supporting US presidential candidates, but did not promise any donations to anyone. So far, the funds donated are "much lower" than the previously reported level of $45 million per month.
South Korea’s first cryptocurrency regulatory framework takes full effect, with a focus on investor protection
According to The Block, South Korea’s first cryptocurrency regulatory framework is now fully effective, focusing on investor protection. The new law, the Virtual Asset User Protection Act, was officially approved on July 18, 2024, and a one-year grace period was given to complete the regulatory details.
The bill imposes stricter requirements on digital asset exchanges. South Korean crypto exchanges are now required to store at least 80% of user deposits in cold wallets, thereby isolating user deposits from the exchange's own funds. Exchanges must also entrust user cash deposits to local licensed banks for safekeeping and hold cryptocurrency reserves of the same amount and type as customer deposits. In addition, South Korean crypto services are now required to purchase sufficient insurance or establish reserve funds to deal with hacker attacks or liquidity crises.
In addition to measures to protect user funds, the bill also requires exchanges to establish a real-time monitoring system to report abnormal trading activities that may be illegal. Companies that fail to comply with the new regulations may face penalties from the Financial Services Commission (FSC) of South Korea or have their services suspended.
CryptoQuant founder: Bitcoin retail investor demand is at a 3-year low
Ki Young Ju, founder of CryptoQuant, released data on social media saying that the current demand for Bitcoin by retail investors is at its lowest point in three years. This indicator is measured by the 30-day change curve of the total transfer volume of transactions below US$10,000.
Putin: Russia must "seize the moment" to create conditions for the circulation of digital assets
According to Bitcoin.com, Russian President Vladimir Putin announced that it is time for Russia to create and increase the environment required for the adoption of digital assets and the Russian CBDC (digital ruble). More than 30,000 transactions have been carried out during the pilot testing phase of the digital ruble, of which more than 7,000 transactions constituted payments for goods and services.
“Russia must ‘seize the moment,’ as they say, to promptly create a legal framework and regulations, develop infrastructure and create conditions for the circulation of digital assets in the country and in relations with foreign partners,” Putin said, according to the official Russian news agency TASS.
Data: $132.49 million worth of tokens will be unlocked next week
Token Unlocks posted on the X platform that $132.49 million worth of tokens will be unlocked from July 22 to 28, including: ALT (42.08%): $104.17 million; ID (4.29%): $8.53 million; YGG (3.74%): $7.25 million; ENA (0.87%): $7.01 million; AGIX (1.32%): $5.18 million.
Trump formally announces his acceptance of the Republican presidential nomination
According to the National Business Daily, at the last day of the Republican National Convention this morning (July 19) Beijing time, former US President Trump officially announced his acceptance of the Republican presidential nomination.
Greeks.live: 21,000 BTC options and 140,000 ETH options expire
Greeks.live macro researcher Adam posted on the X platform that 21,000 BTC options expired, with a Put Call Ratio of 1.2, a maximum pain point of $62,000, and a notional value of $1.3 billion. 140,000 ETH options expired, with a Put Call Ratio of 0.39, a maximum pain point of $3,150, and a notional value of $480 million.
Stimulated by multiple positive news, the crypto market rebounded sharply this week, and the IVs of major maturities all showed a significant rebound, generally more than 5% compared with a week ago. The market atmosphere is much more optimistic. Although the news of ETH ETF is still delayed, the listing of ETF and the growth of the entire crypto market are unstoppable, and the final inflow of funds will drive crypto.
US Senator: Trump 'sees potential in Bitcoin as savings technology'
According to Bitcoin News on the X platform, U.S. Senator Cynthia Lummis said that Trump "sees the potential of Bitcoin as a savings technology."
Binance CEO Richard Teng: With only three months until Bitcoin halving, it is important to focus on the long term
Richard Teng, CEO of Binance, wrote on the X platform that the market is cyclical and it is not uncommon to experience ups and downs. It is important to take a long-term view when making investment decisions. Here is a reminder that it has only been 3 months since the last Bitcoin halving. This is not financial advice, DYOR. At the end of the article, there are pictures showing the increase in Bitcoin 6 to 12 months after each halving, including a 7043% increase in the year after the 2012 halving, a 289% increase in the year after the 2016 halving, and a 559% increase in the year after the 2020 halving.
imToken issues a security reminder, beware of SMS scams that say "imToken will shut down service soon"
Digital asset wallet imToken officially issued a security reminder that recently some fraudsters have impersonated imToken officials and contacted users by sending text messages, falsely claiming that "imToken will be shut down soon" to induce users to visit fake websites and enter mnemonics, resulting in asset losses. imToken officially reminded that imToken will not actively contact users via text messages or phone calls. Users are advised to be vigilant against text message fraud and keep mnemonics or private keys properly and do not disclose them.
QCP Capital: Bitcoin will fluctuate between $61,000 and $71,000 in the short term
QCP Capital released an analysis report pointing out that Bitcoin will fluctuate between $61,000 and $71,000 in the short term. In particular, dealers hold a large number of options with a strike price of $67,000 on July 26. The market is clearly betting on a breakthrough before the US election. Even though the spot price fell overnight, QCP Capital still saw a large number of institutions interested in the $100,000 call option in December. This shows that as Trump's chances of winning the election increase, the confidence in a rebound at the end of the year is stronger.
"What are the interesting articles worth reading in the past 24 hours?"
Systematically sorting out the evolution of GameFi: How far are we from the next hit game?
Since the launch of the Ethereum mainnet on July 30, 2015, the advent of the Web3 era has officially begun. The smart contract deployment function of the Ethereum mainnet supports the design and operation of DAPPs (decentralized applications). On this basis, a large number of popular DeFi (decentralized finance) have emerged, such as Uniswap, which implements DEX (decentralized exchange) through automated market makers, and MakerDAO, which implements contract lending. These DeFis have attracted a large amount of hot money with their high investment returns, openness, transparency, strong concealment, and complete openness. The total market value of the DeFi track has also increased from US$50 million in 2015 to US$100 billion in 2023.
Matrixport Investment Research: A brief analysis of the driving force behind BTC’s rapid short-term rebound
The latest research from Matrixport Research Institute shows that BTC’s short-term rapid rebound may be affected by the following factors:
Germany's BTC "emergency sale" ends, BTC selling pressure eases
BlackRock CEO breaks with norms and supports BTC as a legitimate financial tool
“Supporting BTC” has become a key factor in Trump’s campaign, and the benefits of the election are still to be realized
Dialogue with Catizen CEO: From financial investment to virtual cats, revealing the road to success of Web3 games
For developers who want to build gaming projects on the blockchain or TON ecosystem, they must delve deeper into user behavior.
Worldcoin “money grab” scheme: price manipulation, misdirection, and unexpected victims
The price of Worldcoin (WLD) has risen sharply recently, up about 45.1% in the past week. However, according to a post by crypto researcher DeFi^2 on the X platform, this round of price increase was deliberately done by the Worldcoin team to sell at a high price. The following is the details.
Worldcoin is expected to start internal unlocking in 7 days, and it has one of the lowest circulation tokens in the history of the crypto industry, with only about 2.78% of the tokens in circulation. With this in mind, it is meaningful to have a deeper understanding of how the project achieves this state. This article reveals how the Worldcoin team secretly controls the price so that it still maintains a FDV of about $30 billion when the internal unlocking begins.
First some background. When Worldcoin first launched, the Foundation had a circulating supply of 1.4%, or 140 million WLD. While there were concerns that such a low circulating supply would cause it to launch with an extremely high FDV, the team has allocated 100 million of these WLD to market makers and provided them with call options that allow them to buy back a large number of tokens at a price slightly above $2 at the end of the contract, with the goal of preventing the price from surging too high. Allocating supply to market makers to create favorable prices is not uncommon in the industry.
Rebirth: TON chain is saving the domestic small and medium-sized game manufacturers that have been trapped in the bottom of the box
Before meeting me, Ozawa had just finished meeting with a client to discuss the sale of the source code of a small game he developed. Compared with last year, Ozawa's mental outlook this time was completely different. He no longer looked depressed, but ambitious, like a teenager who had returned to puberty.
Last year, he confided in me his confusion and helplessness when working on a large-scale blockchain game project. "I have been in the blockchain game industry for three years and have not accomplished anything. This is very different from my ideal when I entered the industry. It may also be a mid-life crisis. I think I am already in my thirties and have not accomplished anything. I feel like a failure."
After more than half a year, he finally got back to his normal state and finished the whole conversation with me with a smile. It is said that many TON chain game production platforms have contacted them recently, wanting to buy their mini-game source code, with the highest bid being $100,000. TON chain is a blockchain project developed by Telegram. Although the Telegram team withdrew from the development of the project halfway, the TON Foundation still took over and continued to develop it. Since the trading BOT last year, TON chain has gradually prospered, and it has also provided more opportunities and possibilities for today's mini-game BOT.
