Headlines
▌Ripple CEO: The next target of the US government is Tether
Ripple CEO Brad Garlinghouse said in a recent interview that the next target of the US government is Tether, the stablecoin company responsible for the circulation of USDT stablecoin.
Some experts believe that the statement of Ripple CEO is a very big insider report. If it really happens, there will be a very large selling pressure in the USDT stablecoin market. In this case, the value of USDT will fall sharply.
▌Pudgy Penguins CEO: More than 1 million plush toys have been sold through various retailers
Pudgy Penguins CEO Luca Netz said the company has sold more than 1 million plush toys through various retailers.
Netz also revealed upcoming partnerships with other retailers, including reorders from Walmart and ordering from Target, Smiths, Hot Topic, and "specialty retailers in Asia and around the world."
Quotes
As of press time, according to Coingecko data:
The latest transaction price of BTC is $61,498.51, with a daily change of +1.2%;
ETH's latest transaction price is $2931.31, with a daily change of +0.8%;
BNB's latest transaction price is $594.08, with a daily change of +0.4%;
SOL's latest trading price is $143.55, with a daily change of -1.2%;
DOGE’s latest trading price is $0.1413, with a daily change of -1.2%;
XPR recently traded at $0.4995, with a daily change of -1.3%.
policy
Turkey prepares new encryption law to align with international standards
Turkey is preparing to submit a new law to regulate crypto assets to parliament. The law, which aims to align with international standards and reduce the risks associated with cryptocurrency trading, will impose strict supervision on the licensing and operation of cryptocurrency trading platforms by the Capital Markets Board. It will also ensure the safekeeping of assets, establish transparent platform-customer relationships, and clearly define sanctions for violations. The draft legislation is expected to be submitted to parliament within a week.
The move, which has been strongly backed by Finance Minister Mehmet Şimşek, is aimed at removing Turkey from the financial crime watchdog’s “grey list” and improving its standing under the Financial Action Task Force’s standards.
▌Ghanaian Vice President: Ghana will become the first blockchain-driven government in Africa
According to Business Insider Africa, Ghana’s Vice President Mahamudu Bawumia said that the next phase of the country’s digitalization efforts will be to fully adopt blockchain technology in government operations, making it the first blockchain-powered government in Africa. Bawumia believes that Ghana will adopt the technology because it will increase transparency and enable the government to effectively fight corruption.
Blockchain Applications
▌SLERF: Developers deployed pumpfun token last night, completely operated by the community
Solana Memecoin project SLERF posted on social media that our developer grumpy.slerf deployed a pumpfun token last night. The token has no team or official social, and has no direct relationship with slerf except grumpy pressing the deployment button. It is 100% community-operated.
▌GM Network: NFT staking function will be launched soon
GM Network, a modular L2 network based on DePIN+AI, tweeted announcing adjustments to GN points. The adjustments include:
·Optimize GN points and reward weights, adjust GN points overall, and keep user weights unchanged.
·Adjust the GN output and proportional weight of AI agents, and the weight of CyberV NFT has been enhanced.
·Optimize more sustainable invitation rewards and balance the relationship between the number of invitees and GN points.
·Eliminate the first batch of sybil attack users, and will remove sybil attack users who do not comply with the rules from time to time.
Holding multiple CyberV NFTs will receive additional GN rewards, and the NFT staking function will be launched soon.
Cryptocurrency
▌Consulting firm: The detention of Binance officials in Nigeria may undermine investor confidence in the country’s investment environment
SBM Intelligence, an Africa-focused risk advisory firm, warned that the detention of Binance officials in Nigeria sends a discouraging message to foreign investors and could undermine investor confidence in the country’s investment climate.
SBM Intelligence said that when government officials are perceived to be corrupt or willing to engage in unethical behavior, it discourages foreign investment, undermines the rule of law, and hinders efforts to combat poverty and inequality. However, governments and their agencies view cryptocurrencies negatively because they weaken control over financial transactions and the economy. Regardless of the allegations against Binance, it is important to remember that the story of one foreign business will serve as a warning to others. If Nigeria is labeled as a country where company officials can be extorted for bribes and then detained indefinitely, it will become extremely challenging to convince investors to invest.
▌Korean won remains the second most traded fiat currency in Bitcoin
The latest data shows that despite the decline in Bitcoin prices, South Korea's premium has decreased, but it is still about $1,800 to $2,000 higher than Bitcoin's global weighted average price. Further indicators show that, accounting for 2.07% of the total Bitcoin spot trading volume, second only to the US dollar.
▌Peter Schiff: Bitcoin spot ETF fund outflow will bring huge downward pressure on Bitcoin
Gold advocate and economist Peter Schiff predicts explosive gains in gold and silver prices, encouraging investors to “take advantage of what could be the biggest bull run in precious metals in history.”
Peter Schiff also reiterated his pessimistic view on Bitcoin. He said that Bitcoin is dead money. Sell it before it is buried. When the Bitcoin (spot) ETF was launched four months ago, there were no sellers, only buyers. But now many investors hold these ETFs, and the supply of potential sellers is large. But with less demand from new buyers, the outflow of funds from the ETF will soon put huge downward pressure on Bitcoin.
▌The listing of spot ETFs in Hong Kong has not had a significant impact on futures ETFs
After the Hong Kong market launched a total of 6 Bitcoin and Ethereum spot ETFs at the end of last month, taking into account the original 3 futures ETFs, there are currently 9 in total, the most in Asia. Earlier, some people pointed out that spot ETFs are competitive products of futures ETFs, and with low management fees, it is not ruled out that some funds will flow out of futures ETFs; however, if we look at the recent average daily turnover or capital flow, spot ETFs The listing of ETFs has not had a significant impact on futures ETFs; at the same time, the trading activity of Bitcoin-related ETFs is also significantly better than that of Ethereum-related ETFs.
Important economic developments
▌The probability of the Federal Reserve keeping interest rates unchanged in June is 96.5%
According to CME's "Fed Watch": the probability of the Fed keeping interest rates unchanged in June is 96.5%, and the probability of a 25 basis point rate cut is 3.5%. The probability of the Fed keeping interest rates unchanged by August is 74.6%, the probability of a cumulative 25 basis point rate cut is 24.6%, and the probability of a cumulative 50 basis point rate cut is 0.8%.
Golden Encyclopedia
▌What is Ethereum Futures ETF
Ethereum futures ETFs are investment funds that track Ethereum futures contracts rather than Ethereum itself. Investors can use Ethereum futures ETFs to speculate on the future price of Ethereum without actually holding the cryptocurrency. Instead of holding a tangible asset, Ethereum futures ETFs invest in futures contracts. These contracts are a promise to buy or sell Ethereum at a predetermined price on a predetermined date in the future. Without having to deal with wallets or cryptocurrency exchanges, investors can buy these contracts through ETFs, gaining exposure to Ethereum's price fluctuations, while the ETFs simply raise investors' funds to buy them.
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.
