Today's news tips:
Trump officially nominated as the Republican presidential candidate
Source: US SEC has given "preliminary approval" to at least three ETH ETF issuers
Reuters: Craig Wright handed over to British prosecutors on suspicion of perjury
Japanese listed company Metaplanet purchased another 21.88 Bitcoins
Sanctum’s CLOUD token will be launched at 23:00 this Thursday
Tether hires former Chainalysis chief economist as head of economics
Galaxy’s former executives embezzled at least $3.67 million of investor funds from Zero Edge, which they founded. The victims included Galaxy
Kraken has received creditor funds from the Mt. Gox custodian and expects it will take 7-14 days for funds to be credited to creditor accounts
Regulatory News
Trump officially nominated as the Republican presidential candidate
According to Xinhua News Agency, former US President Trump received enough party delegates at the Republican National Convention on the 15th and was officially nominated as the Republican presidential candidate for the 2024 US presidential election. Trump also announced on the same day that he had chosen Ohio Senator James David Vance as his running mate. Mike Johnson, Republican Speaker of the U.S. House of Representatives, officially announced at the convention that day that Trump and Vance would be nominated as Republican presidential and vice presidential candidates. Trump is expected to formally accept the nomination on the 18th. Vance was born in 1984, was elected Ohio Senator in 2022, and was sworn in in January 2023. He was once a fierce critic of Trump, but has since become an ally of the former president.
Trump Names Crypto-Friendly J.D. Vance Republican Vice Presidential Nominee
According to The Block, Trump has appointed Ohio Senator J.D. Vance as the Republican vice presidential candidate today. Vance, a former venture capitalist, disclosed in his annual report filed last year that as of 2022, he owned between $100,001 and $250,000 worth of Bitcoin. He holds these Bitcoins through Coinbase. In addition, Vance also opened accounts at brokerage firms Robinhood and Charles Schwab. He has not yet filed financial disclosures for 2023. His current net worth is estimated to be at least $5 million and at most $10.5 million. Vance is one of the lawmakers who supports cryptocurrency and is involved in drafting a bill that will reform the way U.S. financial regulators regulate digital assets.
Later in the news, JD Vance criticized the Canadian government for freezing protesters' bank accounts and cited this as the reason for the booming cryptocurrency.
Coinbase, Ripple, and a16z to attend Republican and Democratic national conventions
According to CryptoSlate, citing Politico, Coinbase, Ripple and Andreessen Horowitz (a16z) plan to send representatives to the Republican National Convention (RNC) and later to the Democratic National Convention (DNC). The companies will first "present their views to GOP power brokers" to support election results that produce policies that are favorable to the industry, and emphasize the Republican Party's broad support for the encryption field. It is unclear whether company representatives have arrived at the Republican National Convention, which will end on July 18. Meanwhile, the Democratic National Convention is scheduled to be held from August 19 to August 24. All three companies are members of the Fairshake Super Political Action Committee, which raised $177.9 million and spent $70.9 million during the 2024 election cycle. The super political action committee aims to benefit American candidates who support cryptocurrencies regardless of their party membership.
Source: US SEC has given "preliminary approval" to at least three ETH ETF issuers
According to Reuters, three industry sources said that the U.S. Securities and Exchange Commission (SEC) has preliminarily approved at least three asset management companies to start trading Ethereum spot ETFs starting next Tuesday, and a total of eight asset management companies hope to launch such funds. Sources said that the approval is subject to the applicant submitting final issuance documents to regulators before the end of this week. One of the people said that all eight companies are expected to launch such funds at the same time. A spokesman for the U.S. Securities and Exchange Commission (SEC) said the agency does not comment on individual applications. Industry sources revealed that the applications of eight asset management companies, including BlackRock, VanEck and Franklin Templeton, are likely to be approved by the SEC on Monday afternoon, July 22, and the relevant products are expected to start trading the next day.
Earlier today, sources said that the Ethereum ETF will begin trading on July 23 as the US SEC collects the final version of the registration statement.
Reuters: Craig Wright handed over to British prosecutors on suspicion of perjury
According to Reuters, Craig Wright, an Australian computer scientist who claims to be the inventor of Bitcoin, has been referred to British prosecutors by a London High Court judge for alleged perjury. In his ruling, Judge James Mellor pointed out that Wright had lied extensively and repeatedly to support his false claims, and decided to refer the case to the British Crown Prosecution Service (CPS) to consider whether to charge him with perjury. Mellor said that if Wright's behavior did not need to be referred to the prosecution service, it would be difficult to imagine what other cases needed to do so.
Project News
ether.fi is expected to open Season 2 airdrop claims on the morning of July 18
The ether.fi Foundation officially announced on the X platform that the airdrop application for Season 2 will be open on July 17 (EST evening). According to the time conversion, the evening of July 17 EST is expected to be the morning of July 18 Beijing time.
OKX requires prime brokerage firms to provide detailed information on sub-accounts, presumably to prevent abuse of VIP fee program
Crypto exchanges are cracking down on brokerage firms that bundle customer orders to enjoy lower VIP trading fees, CoinDesk reported. The media found in a letter that OKX recently asked prime brokerage firms to provide detailed information on sub-accounts, including the name of the entity or individual that controls each sub-account and the jurisdiction in which they are located. OKX said it needs to obtain this information by July 17, and failure to provide it may result in undisclosed sub-accounts being restricted from trading or/and sub-account closures. Earlier this month, Binance changed its Link Plus interface, effectively closing a loophole that allowed prime brokerage firms to use a multi-tiered fee system to provide rebates to customers. Binance said the move was "to maintain compliance and ensure a level playing field for all users, whether they access Binance directly or through an intermediary." Eugene Cheung, head of institutional business at Bybit, another crypto exchange, said, "We are closely following the recent developments of other platforms to cancel the multi-tiered fee structure of prime brokerages. However, we have no plans to make any changes to our fee structure. We remain firmly committed to ensuring compliance and safeguarding the best interests of our users."
Trump’s social media posts a new dynamic with the text “FEAR NOT”, and the meme token of the same name has appeared on Solana and Ethereum networks
Trump posted an email on social media with the caption "Don't be afraid (FEAR NOT), I am Trump, I will make America great again!". According to community speculation, Trump may have said "FEAR NOT" instead of "FIGHT" when he raised his arms after the shooting on the 15th. Currently, the meme token with the same name FEARNOT has appeared on Solana and Ethereum networks.
Japanese listed company Metaplanet purchased another 21.88 Bitcoins
Tokyo Stock Exchange-listed company Metaplanet said on the X platform that it has increased its holdings by another 21.88 Bitcoins (BTC).
Catizen decided to increase the community airdrop token share to 43%
According to Catizen's official Twitter, the number of Catizen game players has exceeded 25 million today, of which the total number of Telegram premium accounts has reached 1.8 million, the number of on-chain users has exceeded 1.4 million, the total on-chain interaction data has exceeded 19 million, and the total number of users above the platinum list has exceeded 300,000. Catizen officials have decided to allocate 1% of the total tokens from the team's token share to the community airdrop, that is, the original 42% of airdrop tokens will be increased to 43% to compensate for the risk of insufficient potential community benefits due to the increase in the user base and the reduction in per capita shares.
Web3 company Fileverse launches collaborative document sharing app ddocs
According to The Block, Web3 startup Fileverse has launched a collaborative document sharing program called ddocs, aiming to be a competitor to Google Docs. ddocs offers almost all of the features of Google Docs, but with better privacy protection and Web3 features. Users can use it without interacting with the Web3 infrastructure, but can create accounts, store hash versions of files, and control access rights by signing a multi-signature wallet on Gnosis Safe. The Fileverse team has also developed Fileverse Portal and Fileverse Solo, a file sharing service similar to Notion. Fileverse founder Andreas Tsamados said ddocs is a breath of fresh air that provides privacy protection for users. Last year, it was reported that Web3-powered file management application Fileverse completed $1.5 million in financing.
Sanctum’s CLOUD token will be launched at 23:00 this Thursday
According to Jupiter Exchange's official Twitter, Solana ecosystem liquidity staking protocol Sanctum's CLOUD token will be launched this Thursday at 11 AM EST / 3 PM UTC (23:00 Beijing time). Last week, Sanctum will officially launch CLOUD tokens on July 18 and open airdrop applications. Last month, Sanctum announced the economics of CLOUD tokens: 10% of the token supply will be allocated to the initial airdrop.
Tether hires former Chainalysis chief economist as head of economics
According to The Block, Tether announced the appointment of former Chainalysis chief economist Philip Gradwell as its new head of economics. Gradwell will be responsible for quantifying the Tether economy and communicating Tether's usage to regulators and stakeholders. Gradwell worked at blockchain analysis company Chainalysis for six years. Gradwell said that in Tether, we have a real economy to analyze, as well as data and knowledge to analyze. "
Vitalik: There is an imbalance in the types of infrastructure investment, with some types investing too much and others too little
Ethereum co-founder Vitalik Buterin wrote, “My view on ‘overinvestment in infrastructure’ is that some types of infrastructure are indeed overinvested, while other types are underinvested. The reality is that people want to invest in the ‘casino’ but still want to feel good, so they invest in the part of the infrastructure that benefits from the overflow profits of the ‘casino’.”
Analyst: If SOL rises to $176, $2.98 billion of short positions will be liquidated
According to on-chain analyst @ali_charts, if SOL rises to $176, $2.98 billion of short positions will be liquidated. It should be noted that this prediction should be a spike (rapid rise) to $176 before such a huge amount of liquidation will occur. If it only rises to $176, someone will increase or reduce their short positions during this period, causing the value to change.
Galaxy’s former executives embezzled at least $3.67 million of investor funds from Zero Edge, which they founded. The victims included Galaxy
According to CoinDesk, former Galaxy executive Richard Kim said in an interview that after raising $7 million in seed funding for Zero Edge less than a month ago, Kim engaged in leveraged cryptocurrency trading and suffered heavy losses due to the decline in Bitcoin prices in June. Galaxy became one of several victim investors after Kim admitted to embezzling at least $3.67 million of Zero Edge's company funds. A Galaxy spokesperson said: "Kim left Galaxy in March 2024 and founded Zero Edge. Galaxy made a small investment in the company's balance sheet. After learning about certain actions taken by Kim during his tenure at Zero Edge, we, along with other investors, reported his behavior to the authorities." Galaxy's spokesperson declined to disclose the size of the company's investment in Zero Edge. Kim said he also reported himself to the U.S. Securities and Exchange Commission's public reporting hotline and submitted his resignation to Zero Edge and the board of directors on July 2.
Eigenpie: Part of the EGP tokens will be allocated to strategic angel investors, and the 34% share of point holders remains unchanged
Liquidity re-staking platform Eigenpie announced that part of the total token supply will be allocated to strategic angel investors. As mentioned earlier, 34% of the total EGP supply will still be allocated to Eigenpie points holders, and this allocation remains unchanged. Earlier news, Eigenpie announced the EGP token economics, with a total supply of 10 million, and the allocation includes IDO (40%), community incentives (35%), Magpie Treasury (15%) and early supporter airdrops (10%).
Binance Futures to Launch WIFUSD 1-20x Coin-Margined Perpetual Contracts
According to the official announcement, Binance Futures will launch the WIFUSD coin-margin perpetual contract at 20:00 on July 23, 2024 (ET8), with a maximum leverage of 20 times.
Kraken has received creditor funds from the Mt. Gox custodian and expects it will take 7-14 days for funds to be credited to creditor accounts
According to an email Kraken sent to users, Kraken has successfully received creditor funds (BTC and BCH) from the Mt. Gox custodian. While Kraken will distribute these funds as quickly as possible, please expect it to take 7-14 days for the funds to be credited to the creditor's account. The amount that the creditor will receive is determined by the custodian, and Kraken will distribute it according to its instructions.
Financing News
Fintech company Caliza raises $8.5 million, led by Initialized
According to TechCrunch, fintech company Caliza has raised $8.5 million to enable real-time currency transfers in Latin America using USDC. Founded in 2021 by American entrepreneur Ezra Kebrab, Caliza provides a crypto-stablecoin-based API and front-end payment system that allows instant transfers and provides U.S. digital dollar accounts for international merchants. The financing was led by Initialized, the first investment by the venture capital firm focused on Latin America. Caliza plans to expand to Mexico this fall and plans to double its team in Brazil. Caliza's mission is to "empower everyone, regardless of their location or situation, to have access to instant and stable liquidity."
Important data
Tether minted 1 billion authorized but unissued USDT on the TRON network in the early morning
According to Whale Alert monitoring, at 04:26:42 Beijing time, Tether Treasury minted 1 billion USDT on the Tron network. Tether CEO Paolo Ardoino said that the 1 billion USDT was a supplement to the Tron inventory. This is an authorized but unissued transaction, which means that this additional issuance will be used for the next issuance request and cross-chain exchange inventory.
Driven by Bitcoin ETF, BlackRock's asset management scale hits a record high
Just six months after launching its Bitcoin spot ETF, BlackRock's assets under management hit a record high. According to BlackRock's second-quarter earnings report released on Monday, as of June 30, BlackRock's assets under management reached $10.65 trillion, a year-on-year increase of 13%. BlackRock CEO Larry Fink said in a statement that organic growth was driven by a surge in private markets, retail fixed income and ETFs. BlackRock's total net inflows in the second quarter reached $82 billion, and net inflows reached $139 billion in the first half of this year. Since launching IBIT at the beginning of this year, BlackRock has become the world's largest Bitcoin spot ETF. IBIT currently holds 316,276 bitcoins, worth approximately $18.3 billion.
The U.S. Bitcoin spot ETF had a total net inflow of $301 million yesterday, continuing its net inflow for 7 consecutive days
According to SoSoValue data, yesterday (July 15, Eastern Time), the total net inflow of Bitcoin spot ETFs was $301 million. Yesterday, Grayscale ETF GBTC had a net outflow of $0.00 per day, and the current historical net outflow of GBTC is $18.638 billion. The Bitcoin spot ETF with the largest net inflow on a single day yesterday was BlackRock ETF IBIT, with a net inflow of $117 million per day, and the current total net inflow of IBIT is $18.379 billion. The second largest was Ark Invest and 21Shares ETF ARKB, with a net inflow of $117 million per day, and the current total net inflow of ARKB is $2.621 billion. As of press time, the total net asset value of the Bitcoin spot ETF was US$56.718 billion, the ETF net asset ratio (market value as a percentage of the total market value of Bitcoin) was 4.51%, and the historical cumulative net inflow has reached US$16.112 billion.
Mt.Gox cold wallet address once again transferred about 48,641 BTC to a new address
According to Arkham monitoring, Mt.Gox cold wallet address transferred about 48,641 BTC to a new address starting with 3JQieE 4 minutes ago, with a value of about $3.07 billion. Together with the 47,229 BTC transferred to another new address before, as of now, Mt.Gox cold wallet address has transferred a total of 59,870 BTC to two new addresses today, with a value of over $6 billion.
A smart money address made a profit of 1328 times by opening a position at a low point
According to @ai_9684xtpa monitoring, the smart money/rat warehouse address 0xE29...D3976 invested $106 and made a floating profit of $136,000. The address opened a position in FIGHT at a low point and has made a floating profit of 1,328 times. The address bought 15.61 million tokens at an average price of $0.000006862 as soon as FIGHT went online on the Ethereum mainnet. Currently, 43% of the tokens held have been sold and a profit of 5.4 ETH has been made. The remaining part still has a floating profit of $118,000.
Nascent and MakerDAO deposited approximately $10.29 million worth of MKR to Binance in the past 5 hours
According to Spot On Chain, in the past 5 hours, Nascent and MakerDAO deposited 3,566 MKR (about $10.29 million) to Binance. Among them: Nascent deposited 1,216 MKR (about $3.49 million) to Binance, with an estimated profit of $2.9 million (+294%). Later, the VC withdrew 141 billion PEPE (about $1.6 million), 281,000 LDO (about $508,000) and 3.41 million USDT from Binance. Multi-signature 0xbba (suspected to belong to MakerDAO) deposited 2,350 MKR (about $6.8 million) to Binance. It is said that since April 25, MakerDAO has unloaded 16,000 MKR (about $45.2 million) to Binance at a price of about $2,823, and the above deposit is the largest transfer amount.
Render Network project transfers $10.59 million worth of RNDR to GSR Markets in the early morning
According to @ai_9684xtpa's monitoring, six hours ago, the multi-signature address of the Render Network project transferred 1.6 million RNDR to GSR Markets, worth $10.59 million, of which 350,000 tokens have been deposited into Binance. Token Unlock data shows that RNDR has unlocked 0.19% of the circulating supply of tokens (760,000) at 8 am this morning. It is not certain whether the two are related.
CoinGecko Q2 report: Meme tokens, AI and RWA are the most popular categories, and Bitcoin mining computing power has fallen for the first time since 2022
According to the Q2 2024 Crypto Industry Report released by CoinGecko, after almost breaking the all-time high in the first quarter of 2024, the total crypto market value fell back by 14.4% in the second quarter, closing at $2.43 trillion in June. Here are the main highlights of the report:
1. The total crypto market capitalization fell 14.4% in the second quarter of 2024, while the S&P 500 rose 3.9%.
2. Bitcoin fell 11.9% in the second quarter of 2024, fluctuating between $58,000 and $72,000.
3. Bitcoin’s miner computing power fell 18.8% in the second quarter of 2024, the first quarterly decline since the second quarter of 2022.
4. Meme Coin, Artificial Intelligence, and Real World Assets (RWA) became the most popular categories in the second quarter of 2024, with the top 15 categories accounting for 77.5% of network traffic.
5. Ethereum added 120,818 ETH to its supply in Q2 as network activity slowed and the burn rate decreased.
6. The spot trading volume of centralized exchanges reached $3.40 trillion in the second quarter of 2024, a decrease of 12.2% from the previous quarter.
7. Spot trading volume on decentralized exchanges increased by 15.7% to $370.7 billion, mainly due to a surge in Meme Coin and airdrop activities.
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