Headlines

▌Justin Sun: The team is developing a new solution for gas-free stablecoin transfers

Justin Sun announced on the X platform that it is developing a new solution to achieve gas-free stablecoin transfers. In other words, no gas tokens need to be paid for transfers, and the cost is entirely borne by the stablecoin itself. This innovation will first be implemented on the Tron blockchain, and then support Ethereum and all public chains compatible with EVM. It is expected to launch this service in the fourth quarter of this year. It is believed that similar services will greatly facilitate large companies to deploy stablecoin services on the blockchain, bringing the large-scale application of blockchain to a new level.

▌Unrealized profit indicator on Bitcoin chain may trigger further selling

Analyst Axel Adler Jr posted on the X platform that ordinary investors have currently made 84% of unrealized profits from their Bitcoin investments. The price is close to the average value (PR Bands) of $52,200 – this will reduce unrealized profits by about 14%, and investors may choose to take profits due to concerns about further price declines. He also said that the current price level worth paying attention to is $46,400, which is the average purchase price of Bitcoin in the past year.

Quotes

As of press time, according to Coingecko data:

The latest transaction price of BTC is 57891.2 USD, with a daily increase or decrease of +2.73%;

ETH's latest transaction price is $3043.45, with a daily change of +2.52%;

BNB's latest transaction price is 518.2 USD, with a daily increase or decrease of +3.88%;

SOL's latest transaction price is $140.7, with a daily change of +5.09%;

DOGE’s latest trading price is $0.1168, with a daily change of +4.64%;

XPR recently traded at $0.4445, with a daily change of +4.64%.

policy

▌Vitalik: The failure of the EU proposal on "chat control" is a major victory

On July 6, Vitalik Buterin quoted EFF's tweet on X platform and said that the failure of the EU's proposal on chat control was a major victory, and said that we are entering a very challenging area of ​​privacy protection, especially when similar "mind reading" becomes possible in the next century, there is no other solution except "always vigilant". It is reported that the EU's message scanning proposal did not pass. The proposal scanning proposal will create a "detection order" that allows messages, files and photos from hundreds of millions of users around the world to be compared with the government's child abuse image database.

▌The Central Bank of Nigeria accuses Binance of operating without a license in the country

Dr. Akinwunmi, a senior official of the Central Bank of Nigeria (CBN), testified against Binance at a recent court hearing in Abuja, accusing the company of operating without a license in the country. During the questioning led by prosecutor Ekele Iheanacho, Akinwumi confirmed that "the CBN has not issued any license to Binance." During the trial, Dr. Akinwunmi said that Binance's website misled Nigerians to trade naira through its platform and make deposits and withdrawals through Cashlink. The platform advertises free deposits and fixed-fee withdrawals, activities that are regulated by the CBN and should be conducted by licensed banks and financial institutions.

▌Zambia prohibits the use of foreign currencies, including the US dollar

Zambia is moving forward with the enactment of regulations that would ban the use of foreign currencies, including the U.S. dollar. Measures in this regard are included in a draft document released to the public by the Bank of Zambia, which aims to strengthen the use of the country's legal tender, the kwacha. The document proposes a prison sentence of up to ten years for the use of currencies other than the kwacha, and heavy fines for citizens who violate these regulations. The rules, which are expected to be formalized by the ministers of finance and national planning, could affect the way Zambians and tourists conduct trade in the country.

▌UK High Court approves global freezing order against Craig Wright

The UK High Court has granted a worldwide freezing order (WFO) against Craig Wright, freezing an amount of £1.548 million (about $1.98 million). The ruling stems from an application by Peter McCormack, who argued that the WFO was necessary because the defamation claims made by Wright were fraudulent in nature. Wright claims to be Satoshi Nakamoto, the creator of Bitcoin, and is seeking damages from McCormack for the alleged defamation. The court found that Wright's allegations were based on fraud and supported by forged documents, raising concerns about the loss of assets. Despite objections from Wright, including objections to the purpose of the WFO and the commitment to comply, Judge James Mellor ruled that the WFO and related enforcement measures were essential to ensure that McCormack recovers his legal costs. The judgment includes orders requiring the disclosure of assets and the execution of assets in jurisdictions such as Australia, Seychelles, Antigua and Singapore.

Blockchain Applications

▌Pirate Nation CEO: The number of game blockchains is expected to reach thousands

Amitt Mahajan, founder and CEO of Proof of Play, the developer of the crypto game Pirate Nation, predicts that there will eventually be thousands of dedicated blockchains, each supporting separate applications. Amitt Mahajan believes that blockchain is just an advanced database. Mahajan said that since launching its own dedicated application chain, Pirate Nation has begun to fill the chain with transactions and the team is already considering supporting a second game chain. More chains will be added in the future to continue to increase and expand the number of users in the game.

Cryptocurrency

▌Data: The amount of money transferred via cryptocurrency in Venezuela last year may have reached 9% of all remittances

Over the past decade, Venezuela has become one of the countries in South America that relies heavily on remittances. About 30% of Venezuelan households began receiving remittances after the country faced a sharply rising migrant crisis, according to a study by the Inter-American Dialogue. According to blockchain analysis firm Chainalysis, the amount of money transferred via cryptocurrency last year may have reached 9% of all remittances, a record high. According to the Inter-Agency Coordination Platform for Refugees and Migrants in Venezuela, more than 7.7 million migrants and refugees have fled Venezuela in the past decade. In contrast, 6 million people have left Ukraine since 2022 and another 5 million have fled Syria since 2011. Venezuelans received more than $5.4 billion in remittances last year, accounting for at least 6% of GDP, according to the Inter-American Dialogue. This is nearly 75% higher than the amount of remittances in 2021. More than $461 million in remittances in 2023 were sent via cryptocurrency.

▌Arkham has created a dashboard of government Bitcoin holdings, including the United States and Germany

On-chain data analysis platform Arkham announced that its team has created a dashboard to display the most tagged governments on Arkham, including the United States, the United Kingdom, Germany, and El Salvador. For each country, users can view its current BTC holdings, historical balance charts, and real-time information on recent transactions.

Important economic developments

▌Liu Yuhui: The "coordination" signals of current fiscal and monetary policies have gradually emerged

Golden 10 Data reported on July 6 that Liu Yuhui, director of the China Chief Economist Forum, said that the core challenge facing China's macro economy is to cope with the balance sheet cycle, and emphasized that the current "synergy" signals of fiscal and monetary policies have gradually emerged. . Now the collateral for a new round of debt expansion must be new factors of production, and the direction of new factors of production is data capitalization. Liu Yuhui believes that the distinctive feature of new productivity is innovation, but innovation is always accompanied by risks and requires the support of patient capital and corresponding institutional arrangements, such as the support of major national funds and the China Securities Regulatory Commission for key technology enterprises. Such support is particularly important for economic development in a period of transition. It can not only provide stable financial support for enterprises, but also act as a stabilizer when the market fluctuates. (Quanzhongshe) (Golden Ten Data APP)

Golden Encyclopedia

What is Delegated Proof of Stake (DPoS)?

DPoS is an evolution of the Proof of Stake (PoS) consensus mechanism designed to provide enhanced scalability, efficiency, and democratic governance. Daniel Larimer proposed the DPoS concept in 2014 as an enhancement to the traditional PoS consensus mechanism designed to improve efficiency and scalability. Larimer first shared his vision in a Bitcointalk forum post, which led to the actual implementation of DPoS and the launch of BitShares in 2015.

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.