Insider: US CFTC is investigating Jump Crypto

According to Forbes, citing people familiar with the matter, the U.S. Commodity Futures Trading Commission (CFTC) is investigating the cryptocurrency business of Chicago-based trading company Jump Crypto, including its trading and investment activities. Although there is currently no evidence of wrongdoing, the investigation reflects the regulator's growing attention and supervision of the crypto market. Jump Crypto launched its crypto division in 2021 and quickly became an important market maker and investor in the crypto industry. However, in recent years, the company has experienced a series of challenges, including being involved in the Wormhole hack and the collapse of FTX.

Italy to step up monitoring of cryptocurrency market, fines up to €5 million

Italy is stepping up regulation of the crypto asset market and plans to impose high fines for market manipulation and insider trading, according to Reuters. According to a draft document reviewed by Reuters, the fines could be as high as 5 million euros (about 5.4 million U.S. dollars). The document is expected to be approved by the cabinet later today. The draft proposes that fines for insider trading, illegal disclosure of inside information or market manipulation will range from 5,000 euros (about 5,400 U.S. dollars) to 5 million euros.

UK FCA arrests two people involved in illegal cryptocurrency trading worth £1 billion

According to the FCA official website, the UK Financial Conduct Authority (FCA) and the London Police have arrested two suspects suspected of operating illegal cryptocurrency businesses. The two men, aged 38 and 44, were accused of buying and selling more than 1 billion pounds (about 1.3 billion U.S. dollars) of crypto assets through their businesses without registration. According to the FCA's statement, the two suspects have been released on bail after interrogation. During the investigation, the FCA and the London Police inspected relevant offices and seized several digital devices from two residential properties in London. At present, the investigation is still ongoing and the FCA did not disclose further details. Since January 2021, the UK requires all crypto asset service providers to register with the FCA to comply with anti-money laundering regulations. However, so far, despite more than 300 companies trying to register, only 44 companies have successfully obtained registration qualifications.

California judge disagrees with New York judge, moves civil securities lawsuit against Ripple to trial

According to CoinDesk, a California judge ruled that the civil securities lawsuit against the crypto company Ripple will go to trial, partially dismissing Ripple's motion for summary judgment. The case accuses Ripple CEO Brad Garlinghouse of violating state securities laws in 2017. At the same time, the jury will hear the dispute over whether Garlinghouse made "misleading statements" about securities sales in a television interview that year. Phyllis Hamilton, a judge at the U.S. District Court for the Northern District of California, dismissed the other four charges in the class action lawsuit on Thursday, leaving only one individual claim under state law pending trial. Ripple Chief Legal Officer Garlinghouse said he was pleased that the court dismissed all class action claims.

The plaintiffs alleged that Garlinghouse violated California securities laws by selling millions of XRP on multiple cryptocurrency exchanges in 2017 while claiming to be "very bullish on XRP." Ripple lawyers argued that XRP does not meet the definition of securities under the Howey test, so there is no misleading statement claim. In his ruling on Thursday, Judge Hamilton did not adopt the reasoning of Southern District of New York (SDNY) Judge Analisa Torres, who ruled that XRP sold directly to retail investors did not meet all the criteria of the Howey test in a parallel case with Ripple. Although Torres' ruling constitutes a partial victory for Ripple, its impact seems limited. Last year, Torres' colleague in the Southern District of New York, District Judge Jed Rakoff, overturned Torres' ruling in another case (the lawsuit filed by the U.S. SEC against Terraform Labs). In his ruling, Judge Hamilton emphasized that reasonable investors would not derive profit expectations solely from trends in the cryptocurrency market, but would consider Ripple's efforts to promote XRP in cross-border payments and other areas. Therefore, the court believes that Ripple's actions will not cause investors to generate profit expectations based on the efforts of others. Garlinghouse added in the statement that Torres’ ruling in the SEC case “remains valid” and is not affected by the ruling.

OpenAI competitor Anthropic releases latest AI model Claude 3.5

According to Sina Technology, OpenAI competitor Anthropic released its latest AI model Claude 3.5 Sonnet on Thursday. In March of this year, Anthropic launched the Claude 3 series of models. Subsequently, OpenAI launched GPT-4o in May. Anthropic said that Claude 3.5 Sonnet is faster than the previous flagship model Claude 3 Opus, and it is also the first model of Anthropic's new Claude 3.5 family.

Grass: Bind your Solana wallet to your platform account and verify your email address. You can view your rewards on the dashboard.

The decentralized web crawler project Grass said on the X platform that users need to link their Solana wallet to the corresponding Grass account, verify the bound email address, and follow the official tweet link to enter the "Rewards" tab on the dashboard. The support team will answer user-related questions at any time on Discord.

ConsenSys calls on IRS to delay cryptocurrency reporting requirements, citing compliance burden

Bill Hughes, a lawyer for blockchain software technology company ConsenSys, said on the X platform that the company has sent a letter to the U.S. Internal Revenue Service (IRS) reiterating its concerns about the draft 1099-DA form (digital asset tax form). He emphasized that the proposed regulations require "overly broad" information and impose "a heavy burden on compliance." Therefore, he advocated postponing the implementation of any reporting requirements that affect software developers and supported the introduction of multi-broker rules. Hughes said that these regulations fail to fully consider the burdens on entities that are traditionally not subject to reporting obligations. Earlier in April, the U.S. Internal Revenue Service (IRS) released a draft tax form for reporting digital asset transactions, applicable to tax returns in 2025.

Mocaverse Project Leader: MOCA will conduct a token generation event in July

Tyler Durden, project leader of Mocaverse, a Web3 project under Animoca Brands, said on the X platform that MOCA will conduct a token generation event (TGE) in July.

Arthur Hayes: Bank of Japan's selling of U.S. debt may force the Federal Reserve to print money on a large scale, which will boost a new round of crypto bull market

Arthur Hayes, co-founder of BitMEX, wrote that Japan's fifth largest bank, Norinchukin Bank, recently announced that it would sell US$63 billion worth of US and European bonds. This indicates that other Japanese banks may follow suit and sell up to US$450 billion in US bonds in total. Hayes pointed out that the reason why Japanese banks sold US bonds in large quantities was that the US-Japan interest rate differential widened sharply, resulting in a sharp increase in the foreign exchange hedging cost of holding US bonds, and holding these bonds has begun to lose money. In the election year, US Treasury Secretary Yellen is likely to ask the Bank of Japan to absorb these sold bonds through the Federal Reserve's FIMA repurchase tool to avoid a sharp rise in US bond yields and trigger financial market turmoil. Hayes believes that if the Federal Reserve prints money on a large scale to buy back the US bonds sold by Japan, it will bring a new round of US dollar liquidity to the cryptocurrency market and boost a new round of cryptocurrency bull market. He said that in order to maintain the current US dollar-based financial system, the supply of US dollars must increase, which will undoubtedly push up the prices of crypto assets including Bitcoin.

Gemini: Final distribution of Earn user funds has arrived, and full equivalent assets in physical form have been returned

Crypto exchange Gemini Trust has released an update for Earn users on the X platform, with the final distribution of Earn products now in place, representing approximately 3% of the remaining digital assets owed to Earn users by Genesis as of the suspension date (November 16, 2022). With this final distribution, Earn users will receive 100% of the assets owed to them in kind, representing a 237% recovery in asset value (a ​$1 billion increase in value) since Genesis suspended withdrawals. This process has officially concluded.

Gemini co-founders Winklevoss brothers have each donated $1 million in Bitcoin to Trump's campaign team

Gemini co-founders Cameron Winklevoss and Tyler Winklevoss tweeted that they have donated $1 million in Bitcoin (15.47 BTC) to the Trump campaign and will vote for Trump in the November election. Cameron Winklevoss said: "Trump supports Bitcoin, supports cryptocurrency, and supports commercial enterprises. He will end the Biden administration's war on cryptocurrency."

3iQ Submits Application for North America’s First Solana ETF

Bloomberg analyst James Seyffart tweeted that 3iQ has just submitted an application to launch the Solana ETF in Canada, planning to use the code QSOL. This is also the first Solana ETF application in North America.

Coinbase to List Core Tokens on Coredao Network

Coinbase announced that it will support Core (CORECHAIN) tokens on the Coredao network. Users should be aware that CORECHAIN ​​assets can only be transferred through the Coredao network, otherwise funds may be lost. Currently, CORECHAIN ​​transfers are open in regions where Coinbase and Coinbase Exchange support trading. According to the plan, if liquidity conditions are met, CORECHAIN ​​trading will begin around 0:00 am on June 22nd, Beijing time. The trading pair CORECHAIN-USD will be launched in stages. It should be noted that CORECHAIN ​​may be restricted in certain supported jurisdictions.

Coinbase International will open ALT-PERP, LDO-PERP and PENDLE-PERP perpetual futures trading on June 27

Coinbase International Exchange announced that it will begin supporting perpetual futures trading for Altlayer (ALT), Lido DAO (LDO), and Pendle (PENDLE) on or after June 27, 2024, at 9:30 UTC. These new markets will be available on Coinbase International Exchange and Coinbase Advanced platforms, with the corresponding trading pairs being ALT-PERP, LDO-PERP, and PENDLE-PERP, respectively.

Coinbase to List LayerZero (ZRO)

Coinbase announced that it will support LayerZero (ZRO) on the Ethereum network (ERC-20 token). Users should note that ZRO assets can only be transferred through the Ethereum network, otherwise funds may be lost. Currently, ZRO transfers are open in regions where Coinbase and Coinbase Exchange support trading. Coinbase noted that the ZRO-USD trading pair will start trading in phases later today after liquidity conditions are met. It should be noted that ZRO may be restricted in some supported jurisdictions. In addition, ZRO will be marked as an "experimental" asset on Coinbase, and its contract address is 0x6985884C4392D348587B19cb9eAAf157F13271cd.

Binance launches LISTA on its margin, futures and fixed investment platforms

Binance will launch LISTA on the margin, contract and fixed investment platforms at 20:30 (GMT+8) on June 20, 2024, 20:30 (GMT+8) on June 20, 2024, and 18:00 (GMT+8) on June 24, 2024. Binance will add LISTA as a borrowable asset to the Binance margin and isolated margin trading platforms at 20:30 (GMT+8) on June 20, 2024, as well as LISTA/USDT full-margin and isolated margin trading pairs.

X platform may have reached a cooperation with Midjourney, and Grok may use Midjourney for image generation

According to TestingCatalog News, xAI code snippets show that the X platform and Midjourney may have reached a cooperation. In the future, Grok may use Midjourney for image generation.

Binance to launch ZRO U-margined perpetual contract

Binance will launch ZRO on the leverage, contract, and fixed investment platforms at 22:00 (GMT+8) on June 20, 2024, 22:30 (GMT+8) on June 20, 2024, and 18:00 (GMT+8) on June 24, 2024.

MicroStrategy purchased approximately 11,931 Bitcoins between April 27 and June 19

MicroStrategy announced that it had acquired an additional 11,931 bitcoins at a price of $65,883 per bitcoin between April 27 and June 19, using proceeds from convertible bonds and excess cash, with a total value of $786 million. The acquisition brings the total number of bitcoins held by MicroStrategy to 226,331. As of June 20, MicroStrategy's total investment in Bitcoin was approximately $8.33 billion, with an average purchase price of approximately $36,798 per bitcoin.

LayerZero launches a new claim mechanism called “Proof of Donation”, requiring a donation of $0.10 per ZRO

LayerZero announced a new claiming mechanism called "Proof-of-Donation" on the X platform, and plans to donate about $18.5 million to the Ethereum developer funding protocol ProtocolGuild through this mechanism. When users claim ZRO tokens, they must donate $0.10 in USDC, USDT or native ETH for each ZRO, and these donations will be donated directly to ProtocolGuild. The LayerZero Foundation said it will match all donations up to $10 million. LayerZero's ZRO airdrop claim is now open at 19:00 today.

Later in the news, LayerZero CEO said that there is no mandatory donation and those who do not want to donate can choose not to receive the airdrop; the airdrop has deviated from the original intention and the donation certificate was chosen to avoid short-term speculation.

Japanese crypto exchange bitFlyer plans to acquire FTX Japan

Japanese cryptocurrency exchange bitFlyer plans to acquire FTX Japan, the Japanese subsidiary of bankrupt crypto exchange FTX, according to Reuters and Nikkei.

Particle Network Completes $15 Million Series A Funding, Led by Spartan Group and Gumi Cryptos Capital

According to The Block, the modular chain abstraction Layer 1 project Particle Network has completed a $15 million Series A financing. This round of financing was led by Spartan Group and Gumi Cryptos Capital, and other investors included SevenX Ventures, Morningstar Ventures, Flow Traders and HashKey Capital. This round of financing uses a simple agreement for future tokens (SAFT) and will be used to expand the team size to more than 40 people. The second phase of Particle Network's testnet is expected to start this week, and the mainnet and PARTI tokens are scheduled to be launched in the third quarter.

Stablecoin issuer becomes 18th-largest holder of U.S. Treasuries

According to CoinDesk, stablecoin issuers have become the 18th largest holder of U.S. Treasuries. According to Tagus Capital data, stablecoin issuers currently hold more than $120 billion in U.S. Treasuries. Tether Ltd, the issuer of Tether (USDT), alone holds about $91 billion in U.S. Treasuries, while Circle, the issuer of USDC, holds $29 billion worth of short-term U.S. bonds (including repurchase agreements).

A whale deposited the last 428 BTC into Binance two hours ago, making a profit of $22.18 million in this round of trading

According to the monitoring of on-chain analyst @ai_9684xtpa, the address 3QYQ8...5buBN seems to be very good at making large BTC swings: the winning rate of the two swings in the past 11 months was 100%, and the cumulative profit has reached 31.2 million US dollars. The address opened a position of 1,181 BTC from 02.07 to 05.13, with a cost of only 48,821 US dollars; sold 752 BTC at a high of 69,113 US dollars a month ago, and recharged the last 428 BTC to Binance two hours ago. So far, this round of swings has ended, with a profit of 22.18 million US dollars.

A whale/institution withdrew 2,510 BTC from Bitfinex 6 hours ago, equivalent to about $163 million

According to the on-chain analyst Ember, after a whale/institution increased its holdings of 6,570 BTC yesterday, another whale/institution withdrew 2,510 BTC (about $163 million) from Bitfinex through three addresses 6 hours ago, with a price of $65,039. The 3ADUencNf9zzxMvz7QmJtgU5EsBXg1ScEZ address withdrew 1,000 BTC; the 3BTSgrNF7MhZEqCWYYK8mSp9YMTz1ZkgRX address withdrew 860 BTC; and the 3PBRjqe3mdACy2vBzn6o7M1SgWWrh1H7Gr address withdrew 650 BTC.

A whale has accumulated 8,127 ETH from exchanges in the past two days, worth $28.9 million

According to on-chain analyst @ai_9684xtpa, smartestmoney.eth has accumulated 8,127 ETH from exchanges in the past two days, worth $28.9 million, with an average transfer price of $3,554. He once made a profit of $21.87 million by buying low and selling high on ETH in April 2024. The current asset size of this address is as high as $41.59 million, of which ETH and USDT account for 99%.

Sun Yuchen's address recharged 89.57 million USDT to Binance in the past hour

On-chain analyst Ember tweeted that Justin Sun’s Yibo field address (TT2T…kU9N) recharged 89.57 million USDT to Binance in the past hour.

ZRO hit a high of $5.62 at Binance opening

The market data shows that ZRO hit a high of $5.62 after opening on Binance. As of 10:09 Beijing time on June 21, the price of ZRO had fallen back to $3.367.

The address starting with 0x4ce has received 5.84 million LISTA airdrops, currently worth about 4 million US dollars

According to @ai_9684xtpa, the address 0x4ce…f3c8d became the biggest winner in this $LISTA airdrop and ranked first in the personal airdrop ranking. He has received 5.84 million LISTA tokens, currently worth about $4 million. It is reported that the address pledged a total of 41,077 BNB to Lista between February 4, 2023 and March 10, 2024, with a total value of about $14.77 million at the time (the BNB price was $359 at the time). During the staking period, as the price of BNB rose, the whale's income also increased significantly. In 4 months, his staking income was as high as $9.98 million, plus the value of the airdropped LISTA, a total of $13.98 million was harvested, with a return rate of an astonishing 94%. The whale redeemed all his BNB in ​​batches on April 29 and May 23, 2024, and made huge profits from staking activities and airdrops.

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