Today's news tips:
Harris: Ready to debate with Trump on September 10
Jersey City Pension Fund to Invest in Bitcoin ETF
Coinbase International to Launch Perpetual Futures Trading on Dymension, Maker, and Aave
Robert Kennedy Jr. says most of his wealth is in Bitcoin, and if elected he would push the federal government to buy Bitcoin
Zhao Changpeng will be released from prison on September 29, not August 30 as rumored online
A wallet suspected to be associated with the Ethereum Foundation transferred 92,500 ETH after being dormant for 7 years
Crypto mining company MARA purchased $100 million worth of Bitcoin and holds more than 20,000 Bitcoins
ChatGPT launches prototype of artificial intelligence search engine SearchGPT
Regulatory News
Harris: Ready to debate with Trump on September 10
According to The Hill, after returning to Washington from a two-day visit to Indiana and Texas, US Vice President Harris told reporters that she was ready to debate with Trump on September 10. She said: "I agree to the previously agreed September 10 debate. Trump also agreed to this before, but now it seems that he is going to change his mind. Voters should see the differences in this campaign on the debate stage." Trump previously told reporters that he would "absolutely" debate with Harris at least once before Election Day. But he added that he had not "agreed to anything" in terms of debating with Harris. Trump and Biden agreed to two debates, one on June 27 and the other on September 10. Harris has now won the support of enough delegates and is expected to become the Democratic candidate. The Democratic National Convention will be held in Chicago from August 19 to 22.
Trump has raised more than $4 million in campaign funds through crypto assets such as Bitcoin
According to CNBC, former US President Donald Trump's campaign aides revealed that Trump, as the Republican presidential candidate, has raised more than $4 million from various digital tokens. According to a document from the Federal Election Commission, donors donated Bitcoin, Ethereum, Ripple's XRP token, stablecoin USDC, and various meme coins.
The more than 1,000-page report shows the total fundraising of the "Trump 47" joint fundraising committee from April 1 to June 30. The committee raised more than $118 million during this period and paid money to the Trump campaign, the Republican National Committee and other parties, according to document records. The documents show that at least 19 donors donated more than $2.15 million in Bitcoin to the committee. The donors came from 12 states, including some states with fierce elections. Their occupations include housewives, US military officers, missionaries, painters, sales representatives of a pizza company, and a security technician at the State Department.
Crypto billionaire twin brothers Tyler and Cameron Winklevoss led the donations, each donating 15.57 bitcoins, or just over $1 million at the time of the donation. Because their donation exceeded the $844,600 limit, documents show that some of the funds were returned. Mike Belshe, CEO of digital asset security company BitGo, donated $50,000 in bitcoins.
AI
ChatGPT launches prototype of artificial intelligence search engine SearchGPT
According to Bloomberg, OpenAI has launched a prototype of the artificial intelligence search engine SearchGPT, which may compete with Google. According to OpenAI, SearchGPT can access information on the Internet in real time and will provide users with a more intuitive search experience, allowing them to ask questions to improve searches, just like they do with ChatGPT. SearchGPT also works with publishers and creators to cite sources in relevant search results. OpenAI is testing features with a small group of users and plans to integrate the most successful features into ChatGPT in the future.
Project News
Jersey City Pension Fund to Invest in Bitcoin ETF
Steven Fulop, the mayor of Jersey City, New Jersey, announced that the city's pension fund will be partially invested in a Bitcoin exchange-traded fund (ETF). Fulop said on the social media platform X that Jersey City is updating its documents with the U.S. Securities and Exchange Commission to allocate % of the fund to the Bitcoin ETF, similar to the practice of the Wisconsin pension fund (2%). The process is expected to be completed by the end of the summer. Fulop said that the question of whether cryptocurrencies and Bitcoin will continue to exist is over, cryptocurrencies and Bitcoin have won, and he believes that blockchain is one of the most important new technological innovations since the Internet.
Coinbase International to Launch Perpetual Futures Trading on Dymension, Maker, and Aave
Coinbase International Exchange announced that it will start supporting perpetual futures trading for Dymension, Maker, and Aave at or after 17:30 Beijing time on August 1, 2024. These new markets will be available on Coinbase International Exchange and Coinbase Advanced platforms, with the corresponding trading pairs being DYM-PERP, MKR-PERP, and AAVE-PERP.
Market News: Aave hopes to initiate fee conversion and buy back tokens from the open market
According to BWEnews, Aave hopes to launch fee conversion to buy back tokens from the open market. According to more information about this news disclosed by The Block, a new proposal of Aave considers adding a fee conversion function to return part of the platform's net excess revenue to its key users. This move may also lead to the re-staking of the Aave protocol, providing a new source of income for Aave and its users.
StarkWare plans to integrate Cosmos’ IBC protocol into Starknet
According to The Block, StarkWare will work with Informal Systems to integrate Cosmos' IBC protocol into Starknet. The integration will enable Starknet to connect with any IBC-compatible chain, including all chains within the Cosmos ecosystem and other chains that adopt this feature.
Zeta Markets distributes 20 million ZEX tokens to early stakers
Zeta Markets, a decentralized exchange based on Solana, announced on the X platform that it will conduct a ZEX staking airdrop, with 20 million tokens to be distributed to 14,836 early stakers. The deadline for claiming tokens is 17:45 (Beijing time) on September 25. The tokens will be issued in the form of gZEX and unlocked linearly over 3 months. ZEX stakers will begin to receive staking incentives and will also participate in DAO governance in the future, including proposals, discussions, and voting.
Arbitrum Foundation's proposal to "deploy new Orbit to any blockchain" has been put to vote
The Arbitrum Foundation’s proposal to “modify the Arbitrum scaling plan to allow new Orbit chains to be deployed on any blockchain (such as Bitcoin, Binance Smart Chain, Cosmos, etc.), not just Ethereum” is being voted on on the Snapshot platform, aiming to increase the number of deployments, thereby increasing ArbitrumDAO’s revenue, and addressing confusion over the definition of deployment.
If ArbitrumDAO approves the deployment of Orbit Chain on any chain, the Arbitrum Foundation will be responsible for collecting 10% of Orbit Chain profits and transferring them to the ArbitrumDAO treasury (8%) and the Arbitrum Developer Guild (2%). Currently, 99.89% of the votes support deployment to any blockchain, and the voting will end on August 1.
Coinbase adds three new board members, including OpenAI executives
According to Reuters, the US cryptocurrency exchange Coinbase announced the addition of three new board members, including OpenAI executive Chris Lehane, former US Deputy Attorney General Paul Clement and Aon Chief Financial Officer Christa Davies. The addition of new members will increase the number of board members from 7 to 10.
Binance financial management, one-click coin purchase, flash exchange, leverage, contract launch Render (RENDER)
According to Binance's announcement, RENDER will be launched on Binance's leverage, contract and fixed investment platforms at 18:00 (Eastern Time Zone 8) on July 26, 2024. Users can subscribe to RENDER's principal-guaranteed earning currency current products through Binance's principal-guaranteed earning currency platform, and purchase RENDER through fixed investment from 18:00 (Eastern Time Zone 8) on July 29, 2024. Binance's leverage platform will add RENDER's borrowable assets at 18:00 on July 26, 2024, and open RENDER/USDT and RENDER/USDC leverage trading pairs. At the same time, Binance will launch RENDER 1-50x U-standard perpetual contracts at 18:00 on July 26, 2024.
Robert Kennedy Jr. says most of his wealth is in Bitcoin, he's "all in"
Independent U.S. presidential candidate Robert F. Kennedy Jr. reiterated his support for Bitcoin at the BTC 2024 conference in Nashville. Kennedy said that most of his wealth is in Bitcoin and stressed that he is "fully committed" to the digital asset. This morning, it was reported that U.S. presidential candidate Robert Kennedy Jr. said that if elected, he would push the federal government to buy $615 billion in Bitcoin to make its reserves equal to gold reserves.
BitFlyer Completes Acquisition of FTX Japan and Begins Development of Crypto Custody Services
According to Coinpost, bitFlyer Holdings, the parent company of Japanese crypto exchange bitFlyer, has completed the acquisition of FTX Japan, making it a wholly-owned subsidiary. The subsidiary will be renamed on August 26 and will focus on providing cryptocurrency custody services to institutional investors under bitFlyer Holdings. Looking ahead, as Japan's cryptocurrency regulations improve, the subsidiary plans to launch a spot cryptocurrency ETF.
Zhao Changpeng will be released from prison on September 29, not August 30 as rumored online
According to Protos, some Binance fans shared their expectations on the X platform that Binance founder Zhao Changpeng planned to complete his sentence on August 30. However, fact checking showed that he would not actually be released on this date. Back on April 30, U.S. District Judge Richard Jones sentenced Zhao Changpeng to four months in Seattle Jail and recommended that he be sent to the Seattle-Tacoma International Airport Prison (Seatac). This decision initially led to widespread speculation that if Zhao Changpeng was imprisoned immediately, August 30 should have been his release date. However, Zhao Changpeng's legal team actively intervened to gain more free time for him. Their efforts delayed Zhao Changpeng's imprisonment until late May, and he was not stationed in Seatac as originally planned, but was transferred to FCI Lompoc II, a low-security federal prison located three hours north of Los Angeles. Currently, according to a check of the Bureau of Prisons database, Zhao Changpeng is indeed in FCI Lompoc II. As for his exact release date, unless there are unexpected circumstances, it has been confirmed to be September 29, instead of August 30 as previously widely circulated.
Financing News
Liquidity staking platform aPriori completes $8 million seed round of financing, led by Pantera Capital
According to The Block, aPriori, a liquidity staking platform based on the Monad blockchain, has completed an $8 million seed round of financing, led by Pantera Capital. Institutional investors participating in this round include Consensys, OKX Ventures, CMS Holdings, ABCDE, Gumi Cryptos Capital, Flow Traders, Laser Digital, Chorus One, Everstake Capital and Staking Facilities. Angel investors include Spencer Noon of OurNetwork, Marc Tillement of Pyth Network, Robinson Burkey of Wormhole Foundation, TN Lee of Pendle Finance and Zano Sherwani of Jito Labs.
Michael Novogratz’s Galaxy raises $113M for new crypto VC fund
Billionaire Michael Novogratz’s Galaxy Asset Management unit has raised $113 million for its new venture fund, which invests in early-stage startups focused on crypto software, infrastructure and financial applications, Bloomberg reported.
Important data
Grayscale transferred 98,075 ETH to Coinbase Prime address, equivalent to approximately $308 million
Grayscale transferred about 98,075 ETH to Coinbase Prime, which is about $308 million. Among them, 848 ETH were transferred from Grayscale to Coinbase Prime via the address starting with 0x39Df, and the rest were directly transferred from Grayscale to Coinbase Prime. In addition, Grayscale also transferred 1,400 BTC (worth about $89.9 million) to two unknown addresses.
Crypto mining company MARA purchased $100 million worth of Bitcoin and holds more than 20,000 Bitcoins
According to The Block, Bitcoin mining company MARA (recently renamed from Marathon Digital) announced on Thursday that it has purchased an additional $100 million worth of Bitcoin. The acquisition brings MARA's balance sheet holdings to more than 20,000 BTC (about $1.3 billion), accounting for nearly 0.1% of the total supply of 21 million Bitcoins.
The Bitcoin miner did not provide specific details on the timing and average price of the purchases, with MARA CFO Salman Khan stating that the company was simply “taking advantage of favorable market conditions and speculatively purchasing Bitcoin in the market.” However, based on the dollar amount and the 18,536 BTC holdings on the company’s balance sheet as of the end of June, the latest acquisitions could total around 1,500 BTC, purchased at prices between $54,000 and $68,000 this month.
A wallet suspected to be associated with the Ethereum Foundation transferred 92,500 ETH after being dormant for 7 years
Data from blockchain analysis platform Arkham Intelligence shows that an address possibly related to the Ethereum Foundation has transferred about 925 million ETH, worth about $290 million, after being dormant for 7 years. These tokens have been stored at the same address since 2017. Etherscan data shows that the funds have not yet been transferred from the receiving address, and it is unclear whether the Ethereum Foundation is responsible for these fund transfers.
61,000 BTC options and 490,000 ETH options will expire today, with a total notional value of $5.7 billion
According to today's option delivery data released by Adam@Greeks.live, 61,000 BTC options expired, with a Put Call Ratio of 0.62, a maximum pain point of $63,500, and a notional value of $4.1 billion. 490,000 ETH options expired, with a Put Call Ratio of 0.45, a maximum pain point of $3,350, and a notional value of $1.6 billion.
According to its analysis, the crypto market entered a period of adjustment this week. The listing of the ETH ETF triggered a sharp decline in ETH, and the ETH/BTC exchange rate fell to the lowest level in several months. Implied volatility (IV) of major maturities rebounded significantly, especially the short-term IV rebounded by more than 10%. As monthly delivery ends and news from this weekend’s Bitcoin conference will be digested, implied volatility may face greater downward pressure next week.
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