Compiled by: Luan Peng, ChainCatcher
Important Information:
Data: The market value of the seven largest U.S. stocks evaporated by about US$580 billion overnight, equivalent to about RMB 4.21 trillion
Vitalik: Against making political voting choices based on whether a politician supports cryptocurrency
U.S. SEC approves Grayscale Ethereum Mini Trust and Proshares Spot Ethereum ETF to be listed on NYSE Arca
Biden tested positive for COVID-19, and said if he has any health problems, he will re-evaluate whether to continue to run for president
Crypto exchange OKX withdraws from Nigeria due to regulatory concerns
Judge approves Robinhood's $9 million 'refer a friend' lawsuit settlement
Mt. Gox creditors report massive unauthorized login attempts to their accounts
XRP's 24-hour trading volume on South Korea's top five exchanges surpasses Bitcoin
What important events have occurred in the past 24 hours?
Data: The market value of the seven largest U.S. stocks evaporated by about US$580 billion overnight, equivalent to about RMB 4.21 trillion
The Nasdaq 100 index closed down 2.9% on Wednesday, its biggest one-day drop since December 2022, according to Jinshi.
All of the “Big Seven” heavyweight stocks fell, with Nvidia (NVDA.O) leading the decline, down more than 6.6%, and Apple (AAPL.O) down 2.5%. The market value of the “Big Seven” evaporated by a total of about US$580 billion (about RMB 4.21 trillion) in a single day.
Goldman Sachs' trading desk says the S&P 500 has only one way to go now, down, and it won't be buying the dip.
Vitalik: Against making political voting choices based on whether a politician supports cryptocurrency
Ethereum co-founder Vitalik Buterin has written an article opposing making political voting choices based on whether or not one supports crypto.
He said that in the past few years, cryptocurrency has become an increasingly important topic in political policy, and various jurisdictions are considering bills to regulate participants in blockchain activities. The cryptocurrency field is becoming more and more active in politics, and many people support them almost entirely based on whether parties and candidates are willing to be friendly to cryptocurrencies. He opposes this trend and believes that making decisions in this way is highly risky and violates the values that people originally entered the crypto field. He said that in the crypto field, people tend to focus too much on the centrality of money and the freedom to hold and spend money (which can also be tokens). Bitcoin is seen as an extension of the spirit of libertarianism in the field of Internet payments.
Vitalik believes that freedom is important, and decentralized networks are good at protecting freedom. Money is an important area where such networks can be applied, but it is only one of several important areas. And being crypto-friendly now does not mean it will still be crypto-friendly in five years. Supporting a politician should be based on their entire platform and views, not just because they support crypto.
U.S. SEC approves Grayscale Ethereum Mini Trust and Proshares Spot Ethereum ETF to be listed on NYSE Arca
The U.S. Securities and Exchange Commission approved two spot Ethereum ETFs, Grayscale Ethereum Mini Trust and ProShares Ethereum ETF, to be listed on the New York Stock Exchange’s (NYSE) Arca electronic trading platform, according to a July 17 filing. The NYSE has the power to facilitate trading in these funds after the relevant Form 19b-4 applications were approved. However, before spot products can actually start listing, issuers must still wait for the final opinion of the ETFs’ respective S-1 applications.
A Grayscale spokesperson said in a statement: “Grayscale is pleased to announce that the SEC has approved the Form 19b-4 for the Grayscale Ethereum Mini Trust. The Grayscale team will continue to engage constructively with the SEC staff as we seek full regulatory approval for the spot Ethereum ETP in the United States.”
Biden tested positive for COVID-19, and said if he has any health problems, he will re-evaluate whether to continue to run for president
According to CCTV News, the White House said that US President Biden tested positive for the new coronavirus. According to a White House statement, Biden tested positive for the new coronavirus after his first event in Las Vegas that day. The statement said that Biden had received a booster shot and currently has mild symptoms. Biden will return to his home in Delaware for isolation and continue to work from home.
According to financial reports, Biden said in an interview that if the doctor told him directly that there was a problem with his physical condition, he would re-evaluate whether to continue to participate in the presidential campaign.
Crypto exchange OKX withdraws from Nigeria due to regulatory concerns
Crypto exchange OKX revealed in an email sent to Nigerian customers on July 17 that it will withdraw from Nigeria and stop serving all Nigerian customers, Cointelegraph reported.
OKX said the main reason for ceasing services in the country was “recent changes in local laws and regulations” and set a deadline of August 16, 2024 for users to access the platform’s features. After the deadline, Nigerian users will only be able to access the platform to withdraw funds or close positions.
Judge approves Robinhood's $9 million 'refer a friend' lawsuit settlement
A U.S. federal judge has approved a $9 million settlement in a class-action lawsuit against cryptocurrency and stock trading platform Robinhood.
Robinhood Financial LLC has been ordered to pay $9 million to settle a lawsuit regarding its “refer a friend” program, which allowed users to generate and send text messages to their mobile contacts through the trading app, inviting them to join the platform.
According to the 2021 lawsuit, the move violated Washington state’s Commercial Email Act and Consumer Protection Act.
Mt. Gox creditors report massive unauthorized login attempts to their accounts
In the Mt. Gox creditors subreddit "r/mtgoxinsolvency," several users reported problems logging into their accounts on the Mt. Gox website, with screenshots showing a large number of unauthorized login attempts to their accounts.
Some users worried that this might be a "brute force" attack on Mt. Gox creditors, while others believed it might just be a website glitch.
Later posts indicated that the Mt. Gox website then went into maintenance mode. “Thank you for your patience. Please check back later,” the email read.
XRP's 24-hour trading volume on South Korea's top five exchanges surpasses Bitcoin
XRP's 24-hour trading volume on South Korea's top five exchanges exceeded $650 million, about 2.3 times the volume of Bitcoin. Bitcoin's trading volume on Upbit was $203.57 million, and the total trading volume of top crypto assets on South Korea's top five exchanges reached $282 million. XRP's trading volume on Upbit alone reached $526.8 million, exceeding Bitcoin's trading volume on South Korea's top five exchanges.
Data: The probability of Biden withdrawing from the election rose to 68% on Polymarket, close to the historical high
Data from the prediction market Polymarket shows that the probability of Biden withdrawing from the US presidential election has risen to 68%, close to the historical high of 70%, and has now fallen back to 63%.
Earlier news said that Biden tested positive for the new coronavirus and he said that if he had any health problems, he would re-evaluate whether to continue to participate in the presidential campaign.
WazirX: The security issue involved a Liminal multi-signature wallet
WazirX released a security incident update on X: “This security issue appears to involve one of our Liminal multi-signature wallets. Our team is actively working on this matter and will provide further updates later.”
"What are the interesting articles worth reading in the past 24 hours?"
Ethereum once had the upper hand in the “election coin” PK. Can meme still help Solana surpass ETH?
After Trump was assassinated, for many meme players, the more regrettable thing than not rushing to the FIGHT, FEAR NOT and other memes earlier might be that they rushed to the wrong chain.
Solana is recognized as the meme king among public chains this year. However, in this round of popular election concept memes, Solana was overtaken at one point despite having a first-mover advantage over the meme of the same name on the Ethereum chain.
FIGHT and FEAR NOT were launched between July 14 and July 16. The memes of the same name on Solana were launched about 3 hours ahead of those on Ethereum. However, after three days of fermentation, Fight and FEAR NOT on Solana were once inferior to those on Ethereum in terms of market value and maximum increase.
Data on July 17 showed that the market value of FIGHT and FEAR NOT on the Ethereum chain once reached US$68 million and US$20.5 million, while the market value of the same-name memes on Solana was US$12.5 million and US$1.6 million, respectively.
At present, the election concept coins are still fermenting, and the winner is hard to determine. If a similar rare narrative meme coin is born, whether to rush to Solana or Ethereum may still be a difficult problem for meme players.
The competition between the meme coins on the two chains has also been elevated by many crypto users to a battle between Solana and Ethereum, the two most watched public chains.
Grayscale: How can Crypto accelerate the arrival of the AI era?
Grayscale announced yesterday the launch of Grayscale Decentralized AI Fund LLC, a new fund focused on decentralized AI. The fund's first projects include Bittensor (TAO), Filecoin (FIL), Livepeer (LPT), Near (NEAR), and Render (RNDR), among which Near, Filecoin, and Render are the highest-weighted assets in the fund. Influenced by this news, the relevant tokens rose sharply. Subsequently, Grayscale published an article to interpret AI and decentralized AI, and explained the reasons for its importance. The following is the full text.
Artificial intelligence (AI) is one of the most promising emerging technologies of this century, with the potential to exponentially increase human productivity and power medical breakthroughs. While AI may be important today, its impact will only grow. PwC estimates that by 2030, AI will grow into a $15 trillion industry.
However, this promising technology also faces challenges. As AI technology becomes more powerful, power in the AI industry is concentrated in a few companies, which is potentially harmful to society. This has also raised serious concerns about deep fakes, embedded biases, and data privacy risks. Fortunately, crypto technology offers potential solutions to some of these issues with its decentralized and transparent nature.
This article will explore the problems caused by centralization and how decentralized AI can help solve some of these drawbacks. It will also discuss the intersection of Crypto and AI, focusing on crypto applications in the field that have shown early signs of adoption.
Some creditors have received compensation. How will they deal with this "windfall"? More than half of the people chose...
The much-anticipated Mt.Gox compensation work has begun, and some creditors have received compensation one after another. How to deal with this "windfall" has become a topic of concern to the outside world.
Is TON ecosystem the next gaming trend?
On July 14, the Telegram game project Notcoin announced on Twitter that it would conduct a $7 million airdrop, of which $5 million would be allocated to stakers and holders of different levels, and $2 million would be distributed to participating users in the next three months. As a game based on TON, the core gameplay of the game is "Tap to earn", which has attracted the attention of millions of players in the past few months thanks to the advantages of the TON ecosystem.
This is just a microcosm of the current TON ecosystem. As a popular ecosystem in recent times, TON’s recent revenue has exceeded 10 million US dollars, the number of users on the chain has exceeded 1 million, the total user base has reached 17 million, and the number of daily active users has exceeded 3.5 million. TON ecosystem MEME project DOGS also stated that so far, the number of DOGS points purchased using Telegram Stars has exceeded 10 million.
TON has emerged as one of the best performing layer 1 blockchains for 2024, according to new analysis from CryptoQuant. Since the beginning of the year, TON has outperformed Bitcoin by 118%, in stark contrast to other popular layer 1 chains that have struggled to gain traction.
cmDeFi Founder Chen Mo told DeThings that TON fills the gap in the application level of this bull market, while leveraging the advantages of mobile phones to provide many possibilities for going beyond the circle.
Vitalik's new article: Don't decide your political stance just because someone "supports cryptocurrencies"
Over the past few years, the importance of "cryptocurrency" in political policy has increased, and various jurisdictions are considering different bills to regulate participants in blockchain activities. For example, the European Union's Markets in Crypto-Assets Regulation (MiCA), the UK's regulatory efforts on stablecoins, and the US Securities and Exchange Commission's (SEC) complex legislative and enforcement attempts. In my opinion, most of these bills are reasonable, although there are concerns that governments will take extreme measures, such as considering almost all tokens as securities or banning self-hosted wallets. Due to these concerns, more and more cryptocurrency practitioners have begun to actively participate in politics and decide who to support almost entirely based on the attitude of political parties and candidates towards "cryptocurrency".
In this article, I argue against this trend, specifically because I believe this approach to decision making carries a high risk of going against your original reasons and values for entering the cryptocurrency space.
