Today's news tips:
Biden announced his withdrawal from the 2024 presidential election and said he would fully support Harris for the presidential nomination
Seven U.S. states jointly challenge SEC's over-regulation of cryptocurrencies
CSOP to launch Asia’s first inverse Bitcoin ETF in Hong Kong
"Musk changes his profile picture to celebrate Biden's withdrawal from the election" ranked 16th on Weibo's hot search list
Ethereum celebrates its tenth birthday, ETH/BTC has increased more than 100 times in the past decade
BNB Foundation Completes 28th BNB Token Burn, Totaling $971 Million in BNB
CoinShares: Net inflows into digital asset investment products reached $1.35 billion last week
Data: ALT, YGG, AGIX, ENA and other tokens are scheduled to be unlocked this week, of which ALT unlocks about $114 million
Regulatory News
Biden announced his withdrawal from the 2024 presidential election and said he would fully support Harris for the presidential nomination
According to CCTV News, on July 21 local time, US President Biden announced his withdrawal from the 2024 presidential election. In a letter posted on his personal social media that day, Biden said that he had intended to seek re-election, but in the best interests of the Democratic Party and the United States, he decided to withdraw from the presidential campaign and will focus on completing his presidential duties during his term. Biden said he would explain his decision in detail to the nation later this week. After announcing his withdrawal from the election, Biden expressed his full support and recognition of US Vice President Harris' nomination as the Democratic presidential candidate. A few minutes after Biden announced his withdrawal from the 2024 presidential campaign, Trump responded in a phone call with CNN: "He is the worst president in the history of our country. By far, he is the worst president in the history of our country." Trump also said that he believed Vice President Harris would be easier to defeat than Biden.
Seven U.S. states jointly challenge SEC's over-regulation of cryptocurrencies
Seven U.S. states jointly challenge SEC's regulatory authority over cryptocurrencies. A coalition of seven states led by Iowa Attorney General Brenna Bird filed an amicus brief on July 10 opposing the U.S. Securities and Exchange Commission's (SEC) attempt to regulate cryptocurrencies. The coalition includes Arkansas, Indiana, Kansas, Montana, Nebraska, and Oklahoma.
The alliance pointed out that the SEC's "power expansion" will hinder innovation, hurt the cryptocurrency industry, and exceed its authority. They believe that the SEC's regulatory actions not only prevent states from protecting citizens from scams, but also undermine the free market. The Iowa Attorney General's Office emphasized that the SEC's actions to bypass the new powers granted to it by Congress are illegal, suppress innovation, and allow scammers to go unpunished.
The brief also explains that the SEC violated the Administrative Procedure Act and the Significant Issues Doctrine and calls on the court to stop the SEC from exceeding its authority. The seven-state coalition argues that typical cryptocurrencies do not qualify as investment contracts under the Securities Act of 1934.
Project News
CSOP to launch Asia’s first inverse Bitcoin ETF in Hong Kong
According to Bloomberg, CSOP Asset Management Co., Ltd. will launch the first cryptocurrency-related inverse ETF in the Asia-Pacific region, the CSOP Bitcoin Futures Daily (-1x) Inverse Product, in Hong Kong on Tuesday. This ETF allows investors to bet on the decline in Bitcoin prices, aiming to achieve $50 million to $100 million in managed assets within two years. CSOP CEO Ding Chen said the launch of the product is part of Hong Kong's efforts to build a cryptocurrency-friendly center and is expected to attract investor demand from Japan, South Korea and Singapore.
Rho Markets: The protocol is now back online
Rho Markets posted on the X platform that it had successfully completed the fund allocation and the protocol was now officially back online. Earlier, it was reported that Rho Markets was robbed of 2,203 ETH by a MEV Bot due to a problem with the oracle. It is reported that the relevant funds have been almost fully returned.
TON surpasses Near to become the fifth largest blockchain in USDT issuance
Tether's official transparency page shows that the authorized issuance of USDT on the TON chain has surpassed Near and Celo, rising to fifth place in the USDT issuance blockchain ranking, second only to Tron, Ethereum, Avalanche and Solana. As of 11:59:01 PM UTC on July 20, 2024, the authorized issuance of USDT on the TON chain is US$730,000,002.
WazirX: White hats can receive a 5% reward for the recovery amount
WazirX, an Indian cryptocurrency exchange that was previously hacked, has announced details of a bounty program on the X platform to seek community help in recovering stolen assets.
Bounty Program 1: Track and Freeze - Identifying, tracking, and providing actionable intelligence to freeze stolen funds will provide a reward of up to $10,000 USDT.
Bounty Program 2: White Hat Recovery - 5% of the recovery amount is provided as a white hat reward.
It is reported that the bounty program will last for three months from the date of the announcement, but it may be modified according to the requirements and results, that is, extended or shortened, without further notice to participants.
Japanese listed company Metaplanet purchased another 20.38 Bitcoins
Tokyo Stock Exchange-listed company Metaplanet said on the X platform that it has added another 20.38 Bitcoins (BTC).
Cosmos Eco Wallet Keplr will add support for EVM
According to The Block, Keplr, the most popular wallet application in the Cosmos blockchain ecosystem, will add support for EVM, aiming to strengthen its functionality as a multi-layer wallet solution. The new integration is expected to allow users to view and manage Ethereum-based assets directly within the Keplr interface. In addition, the feature is also designed to support emerging modular projects that leverage both ecosystems, such as Initia, Dymension, Saga, and Celestia.
EVM support is expected to enter the testing phase in a few weeks. Lee also explained the technical aspects of adding EVM support, including the use of EIP-6963 multi-injection providers to ensure that Keplr can be used simultaneously without interrupting the wallet usage pattern. EVM support is intended to serve existing Keplr users rather than compete with MetaMask.
BNB Foundation Completes 28th BNB Token Burn, Totaling $971 Million in BNB
The BNB Foundation announced that it has officially completed the 28th BNB token burn of BNB Chain. A total of 1,643,698.8 BNB were destroyed, with a value of approximately US$971 million at the time of destruction.
The official X accounts of DOGS and Pixelverse have been frozen
The official X accounts of TON ecosystem MEME projects DOGS and Pixelverse have been frozen. In addition, the X account of the founder of pixelverse has also been suspended. An X user said that farmers in his community have reported these accounts and claimed that he hopes these project owners can understand that the community is the key. If the project owners do not want to reward farmers, they should not contact them.
Coingecko market data shows that Pixelverse's PIXFI token fell more than 16% in 24 hours and is currently trading at $0.05144 per coin.
X platform may soon allow users to disable links in replies
Dogecoin designer DogeDesigner says that Platform X (formerly Twitter) will soon allow users to disable links in replies.
Space X and X engineer Christopher Stanley responded that his team developed this feature. This new feature will provide users with more options to control the content of their replies. According to analysis, the launch of such a feature will greatly help reduce the phishing and scams that often occur on the X platform.
"Musk changes his profile picture to celebrate Biden's withdrawal from the election" ranked 16th on Weibo's hot search list
According to Weibo's hot search data, "Musk changes his profile picture to celebrate Biden's withdrawal from the election" ranked 16th on Weibo's hot search list. Earlier today, Musk and Messari founder Ryan Selkis both changed their X account profile pictures to "blue laser eyes".
Binance will suspend CTK and RIF network token deposits and withdrawals to support its network upgrade and hard fork
According to the Binance announcement, Binance will support Shentu (CTK) and Rootstock Infrastructure Framework (RIF) network upgrades and hard forks. The Shentu (CTK) project will perform a network upgrade and hard fork at block height 19,525,000 (estimated at 18:00 on July 23, 2024, Beijing time). Binance expects to suspend token deposits and withdrawals on the Shentu (CTK) network at 17:00 on July 23, 2024. The Rootstock Infrastructure Framework (RIF) project will perform a network upgrade and hard fork at block height 6,549,300 (estimated at 18:00 on July 24, 2024, Beijing time). Binance expects to suspend token deposits and withdrawals on the Rootstock Infrastructure Framework (RIF) network at 17:00 on July 24, 2024.
Ethereum celebrates its tenth birthday, ETH/BTC has increased more than 100 times in the past decade
Justin Drake, an official researcher of the Ethereum Foundation, said on the X platform that today is the tenth birthday of Ethereum. On July 22, 2014, Ethereum officially launched IC0. The fundraising price that year was 1 BTC for 2,000 ETH, without permission, VC, or lock-up. Ten years later, 1 BTC can be exchanged for less than 20 ETH, which means that ETH has increased more than 100 times relative to BTC in the past decade.
Important data
The MakerDAO team has transferred all 30,971 MKRs to the relevant address
According to on-chain analyst Ember, MKR's four-month selling pressure has finally ended: after 126 days, all 30,971 MKR (worth about $92.08 million) of the addresses related to the MakerDAO team have been transferred out. In the past two days, the address has transferred the last 2,228 MKR (worth about $6.27 million) to Binance, which may mean that their sale is complete. From March 18 to July 22, in the past four months, the address has continued to transfer all 30,971 MKR (worth about $92.08 million) to the exchange by transferring hundreds of MKR per transaction, with an average transfer price of about $2,973.
Data: ALT, YGG, AGIX, ENA and other tokens were unlocked this week, of which ALT unlocked about $114 million
Token Unlocks data shows that this week, ALT, ID, GAL, ENA and other tokens are expected to usher in large amounts of unlocking, including:
SPACE ID (ID) will unlock approximately 18.49 million tokens at 8:00 a.m. Beijing time on July 22, accounting for 4.29% of the current circulation and worth approximately US$9 million;
Galxe (GAL) will unlock approximately 586,000 tokens at 8:00 am Beijing time on July 24, accounting for 0.49% of the current circulation, with a value of approximately US$2.3 million;
Acala (ACA) will unlock approximately 4.66 million tokens at 8:00 a.m. on July 25, Beijing time, accounting for 0.46% of the current circulation, with a value of approximately US$340,000.
AltLayer (ALT) will unlock approximately 684 million tokens at 6:00 pm Beijing time on July 25, accounting for 42.08% of the current circulation, with a value of approximately US$114 million;
Yield Guild Games (YGG) will unlock approximately 14.08 million tokens at 10:00 pm Beijing time on July 27, accounting for 3.74% of the current circulation, with a value of approximately US$7.6 million;
SingularityNET (AGIX) will unlock approximately 8.45 million tokens at 8:00 a.m. Beijing time on July 28, accounting for 1.32% of the current circulation, with a value of approximately US$5.3 million;
Ethena (ENA) will unlock approximately 14.89 million tokens at 3:00 p.m. Beijing time on July 28, accounting for 0.87% of the current circulation, worth approximately $7.3 million;
Forta (FORT) will unlock approximately 50,000 tokens at 8:00 a.m. Beijing time on July 28, accounting for 0.01% of the current circulation and worth approximately US$8,400.
WazirX hacker transferred about 16,350 ETH to two new addresses
PeckShield monitoring shows that the address marked as the WazirX hacker has transferred approximately 16,350 ETH (approximately US$57 million) to two new addresses.
CoinShares: Net inflows into digital asset investment products reached $1.35 billion last week
According to the latest weekly data from CoinShares, purchases of digital asset investment products increased further last week, with inflows reaching $1.35 billion, bringing the total inflows over the past three weeks to $3.2 billion. Last week, Bitcoin had an inflow of $1.27 million, while short Bitcoin ETPs had outflows of $1.9 million, bringing the total outflows since March to $44 million. Ethereum's prospects appear to have turned around, with another $45 million in inflows last week, surpassing Solana to become the altcoin with the most inflows so far this year. Compared to tokens, blockchain stocks continue to suffer losses, with $8.5 million in outflows last week, although most ETFs outperformed global stock indices.
Polymarket’s July trading volume exceeds $200 million, setting a new monthly record
Dune data shows that the decentralized prediction market Polymarket's trading volume has exceeded US$200 million so far in July, setting a new monthly record high and an 80% increase from US$111 million in June (the previous monthly high).
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