Today's news tips:
Ethereum spot ETF had a total net inflow of over $106 million yesterday, and its trading volume on the first trading day exceeded $1.1 billion
Bitcoin Conference CEO in talks with Harris campaign about giving speech
Mt.Gox has transferred about 61,560 BTC to exchanges for compensation, and there are still 80,000 BTC waiting to be transferred and distributed
Tesla's total revenue in the second quarter of this year was US$25.5 billion, and its Bitcoin holdings remained unchanged for eight consecutive quarters
Bitlayer Completes $11 Million Series A Funding, Led by Franklin Templeton and ABCDE
dYdX v3 website recovered after being hacked, reminding users to clear cache and restart browser before connecting
BlackRock's Spot Bitcoin ETF's Inflows Exceed Those of the "Seven Sisters"
BTC and ETH options with a total notional value of approximately $5.72 billion will expire this Friday
Regulatory News
Bitcoin Conference CEO in talks with Harris campaign about giving speech
Bitcoin Magazine tweeted that David Bailey, CEO of the 2024 Bitcoin Conference, is in talks with Kamala Harris' campaign team, hoping that she will speak at the conference. The Harris campaign team will make a decision today. In addition, US Vice President Harris' team has consulted Mark Cuban on multiple issues regarding encryption policy.
Crypto custodian Hex Trust receives in-principle approval for MPI license in Singapore
According to The Block, crypto custodian Hex Trust has received in-principle approval for a Singaporean major payment institution (MPI) license, which allows it to provide cryptocurrency custody and over-the-counter trading services in Singapore. Hex Trust previously obtained a virtual asset service provider license in Dubai in November 2023.
Latest poll: The US election situation has changed, Trump and Harris are evenly matched
According to Cailianshe, with Biden's withdrawal from the election and Harris's "taking over" being almost certain, the market has begun to pay attention to the effect of the temporary change of the Democratic Party of the United States. According to a comprehensive survey of multiple polls, Harris and Trump are equally strong, and it is still difficult to say who will win. This shows that the situation of the presidential election may be changing. First, the latest Reuters/Ipsos poll found that Harris leads Trump's 42% support among registered voters with 44%. Since the survey has a margin of error of three percentage points, Harris is statistically equivalent to Trump. The above poll was conducted on Monday and Tuesday, and 1,241 adults across the United States were surveyed online, including 1,018 registered voters. According to a joint poll conducted by National Public Radio (NPR), Public Broadcasting and Television (PBS) and Marist College, Trump is only one percentage point ahead of Harris, but the gap is within the margin of error of 3.5 percentage points. The poll surveyed 1,117 registered voters on July 22, the day after Biden announced his withdrawal from the election. Within 24 hours of Biden's withdrawal, a Morning Consult poll of 4,001 registered voters also found that Harris had narrowed the gap with Trump, trailing him by just 2 percentage points. The poll showed Harris's approval rating at 45%, just two percentage points behind Trump (47%).
Project News
dYdX: The website has been restored, and the dYdX Chain and v3 protocol have not been attacked
dYdX tweeted that the dydx.exchange website has been restored by dYdX Trading Inc. Users should clear their cache and restart their browsers before connecting to their website. Some wallet extensions, such as Metamask and Phantom, may still display warnings when connecting to the website. This issue should be resolved soon. dYdX also stated that the dYdX Chain, dydx.trade website, and v3 protocol have not been attacked and are safe to use. In addition, dYdX Trading is exploring strategic alternatives related to v3 technology that do not include Ethereum smart contracts. DYDX token holders must vote to approve any changes to the underlying smart contracts of v3.
It was reported earlier that the dYdX v3 website was hacked. Please do not visit the website or click on related links. The smart contracts on dYdX v3 are safe. Users are not allowed to withdraw funds for the time being.
Market News: DYDX is in talks to sell its trading platform
According to Tree News, citing Bloomberg Terminal, DEFI exchange DYDX is in talks to sell its trading platform. People familiar with the matter said Wintermute Trading and Selini Capital are among the potential buyers of the dYdX v3 software, as the negotiations have not yet been made public.
Binance will suspend Conflux (CFX) network token deposits and withdrawals on August 13 to support its network upgrade and hard fork
Binance plans to suspend the Conflux (CFX) network’s token deposit and withdrawal services at 13:30 on August 13, 2024, GMT+8, to support its network upgrade and hard fork. The project will perform this upgrade and hard fork at block height 247,480,000.
A Pendle user lost approximately $4.69 million by signing multiple permit phishing signatures
According to Scam Sniffer, an hour ago, someone lost $4.69 million in Pendle re-pledge tokens due to signing multiple Permit phishing signatures. According to statistics from the chain detective ZachXBT, more than $23.2 million in assets have been stolen from Pendle users since March 2024.
AltLayer adjusts ALT token vesting schedule, suspends 6-month vesting plan
According to the official blog, AltLayer announced the adjustment of the ALT token vesting schedule and suspended the 6-month vesting plan. Therefore, no new tokens will be unlocked for investors, teams, consultants, financial departments and others within six months (July 26, 2024 to January 24, 2025). The next unlocking will be on January 25, 2025. The tokens will be vested in a linear monthly manner for investors for a period of 2 years and for the team, consultants, financial departments and other personnel for a period of 3 years.
Binance Labs invests in Pluto Studio, a publishing platform for Telegram-based Web3 game Catizen
According to the official blog, Binance Labs announced that it has led the investment in Pluto Studio Limited, the GameFi publishing platform that launched Catizen. In March this year, Pluto Studio launched its flagship project Catizen. Catizen is a gaming bot on Telegram that seamlessly integrates Telegram with the TON blockchain. In just a few months, the Catizen community has grown to about 25 million players, about 1.5 million on-chain game players, and more than 500,000 paying users worldwide. The game also dominated the TON blockchain ecosystem, sitting at the top of the Open League application rankings for three consecutive seasons.
Mt. Gox creditors have received their Bitcoin and Bitcoin Cash returns at Kraken
According to The Block, Mt. Gox creditors reported in Telegram that they have begun receiving Bitcoin and Bitcoin Cash transfers in their Kraken accounts.
Cryptocurrency exchange BitForex will launch its official website and open withdrawal applications at 20:00 tonight
Cryptocurrency exchange BitForex announced that its official website will be online and open for withdrawal applications at 20:00 (GMT+8) on July 24, 2024. It is reported that the exchange has been out of service since February this year. Users were unable to withdraw funds and access the website, which led to a warning from the Hong Kong Securities and Futures Commission (SFC) in March. Last weekend, BitForex said it would reopen withdrawal services after a five-month suspension.
Solana chain's DEX transaction volume in the past 30 days exceeded Ethereum for the first time
Blockworks Research researcher Ryan Connor wrote on the X platform that the Solana chain has surpassed Ethereum for the first time in decentralized exchange (DEX) trading volume in the past 30 days.
OKX Jumpstart to Launch Matr1x (MAX) Mining on July 29
OKX Jumpstart will launch Matr1x (MAX) mining activity at 14:00 on July 29, 2024 (UTC +8). BTC and ETH holders can stake BTC/ETH to mine MAX tokens. The mining period is from 14:00 on July 29, 2024 to 14:00 on August 5, 2024 (UTC +8), and can be staked and unstaked. The maximum stake amount per person is 0.3 BTC or 3.5 ETH. Users in mainland China, Hong Kong and South Korea cannot participate.
Lista DAO adjusts LISTA unlocking schedule to meet changing needs during transition phase
According to the official blog, Lista DAO, a liquidity pledge and decentralized stablecoin lending protocol, adjusted the LISTA unlocking schedule to meet the changing needs of Lista during its transition phase. The specific details are as follows: 1. Binance Megadrop (10%): The entire token supply allocated to Binance Megadrop will be unlocked on the launch date. 2. Airdrop (10%): At launch, 85% of the tokens allocated to the Lista DAO airdrop (8.5% of the total supply) will be unlocked, and the remaining 15% (1.5% of the total supply) will be unlocked by the end of September. 3. Investors and advisors (19%): 1% of the total token supply is unlocked at launch, and the remaining 18% will be locked for one year until June 2025; starting from June 2025, this portion will be linearly vested and unlocked every quarter for the next two years until March 2027; 4. Team (3.5%): 100% of the token supply allocated to the Lista DAO team will be locked for one year until June 2025; starting from June 2025, this portion of the tokens will be linearly vested and unlocked every quarter for the next five years until March 2029. 4. Community (40%): After veLISTA goes online, the issuance of community incentive tokens will begin in July 2024, and the issuance rate will decrease by 1/√2 every year until June 2044; Regarding the issuance plan for community incentives, since Lista DAO is still in a transition phase, the current issuance rate is set at 312,500 LISTA per week. 5. DAO Funds (8%): 100% of the token supply allocated to the Lista DAO Treasury will be locked for three months; starting from September 2024, this portion will be linearly vested and unlocked every quarter for the next four years until June 2028. 6. Ecosystem (9.5%): At launch, 3.50% of the total token supply was unlocked, of which 0.5% was allocated to PancakeSwap's IF0, and the remaining 6% will be unlocked every quarter for the next five years until March 2029.
Furthermore, during Lista DAO's transition to a fully decentralized autonomous organization (DAO), the originally planned issuance of Lista DAO (9,772,651 LISTA tokens/month in the first year) will be split into 2 equal parts of 4,886,325.5 LISTA tokens each. The first half: The issuance of LISTA tokens (4,886,325.5 LISTA per month in the first year) will be dynamically adjusted monthly based on current demand; the community will be informed in a timely manner before this part is issued. The second half: The second half of Lista token issuance (4,886,325.5 LISTA per month in the first year) will be used for community incentives, but will not be issued immediately. The issuance will gradually increase based on the progress of Lista platform deployment; in the long term, the issuance growth is capped at 1,221,581 LISTA per week, in other words, 4,886,325.5 LISTA per month. As of now, the issuance rate of LISTA is currently set at 312,500 LISTA per week. All remaining unissued LISTA tokens will continue to be allocated for community incentives, and future decisions regarding the issuance rate will be made through DAO voting. As the transition to the DAO is completed, the power to adjust the current issuance parameters of LISTA will also gradually transfer to veLISTA holders.
BlackRock's Spot Bitcoin ETF's Inflows Exceed Those of the "Seven Sisters"
According to Cointelegraph, the inflow of funds into BlackRock's spot Bitcoin ETF IBIT in 2024 has exceeded the inflow of funds into the "Seven Sisters of US Stocks" (Microsoft, Apple, Tesla, Amazon, Meta, Alphabet and Nvidia) stocks, which may push the price of Bitcoin to $88,000 by September. IBIT has accumulated nearly $19 billion in Bitcoin since the beginning of the year. Jeroen Blockalnd, founder of Blockland Smart Asset Fund, said that this puzzling inflow of funds is greater than the inflow of the "Seven Sisters of US Stocks" stocks in 2024, making Bitcoin the second largest asset class in the world this year.
Ferrari to expand its cryptocurrency payment service to Europe by the end of July
Ferrari will expand its cryptocurrency payment service to Europe by the end of July, according to CoinDesk. The luxury sports car manufacturer headquartered in Maranello, Italy, began accepting cryptocurrencies in the United States in cooperation with BitPay last October. Accepted tokens include Bitcoin, Ethereum and USDC. Reuters quoted a statement from Ferrari as saying that Ferrari is currently expanding the program to Europe "to support dealers to better meet the changing needs of customers." The company plans to expand the service to other markets by the end of 2024.
JD.com: Will issue a stablecoin based on a public blockchain in Hong Kong and pegged to the Hong Kong dollar at a 1:1 ratio
According to Cailianshe, JD.com will issue a cryptocurrency stablecoin in Hong Kong that is pegged to the Hong Kong dollar at a 1:1 ratio. According to the official website of JD Coinlink Technology (Hong Kong), a subsidiary of JD Technology Group, JD Stablecoin is a stablecoin based on a public chain and pegged to the Hong Kong dollar (HKD) at a 1:1 ratio. It will be issued on a public blockchain, and its reserves are composed of highly liquid and credible assets. These assets are safely stored in independent accounts of licensed financial institutions, and the integrity of the reserves is strictly verified through regular disclosures and audit reports. Previously, on July 18, the Hong Kong Monetary Authority announced the list of participants in the "sandbox" for stablecoin issuers, including JD Coinlink Technology (Hong Kong).
Franklin Templeton begins eyeing other cryptocurrency ETFs, including Solana
According to Cointelegraph, Franklin Templeton is one of the first companies in the United States to issue a spot Bitcoin ETF. The company is optimistic about the new cryptocurrency ETFs, including Solana, bringing more assets. On July 23, Franklin Templeton wrote in a post on the X platform: "In addition to Bitcoin and Ethereum, there are other exciting and significant developments that we believe will drive the development of the cryptocurrency field. Solana has demonstrated broad acceptance and continues to mature, overcoming the pain of technological growth, highlighting the potential of high-throughput, monolithic architecture." On the same day as the launch of its second spot cryptocurrency ETF, the Franklin Ethereum ETF (EZET), the company issued a statement about the potential Solana (SOL) ETF.
Financing News
Bitlayer Completes $11 Million Series A Funding, Led by Franklin Templeton and ABCDE
Bitlayer, the native second-layer network of Bitcoin, announced the completion of a $11 million Series A financing round, which was jointly led by Franklin Templeton Digital Assets and ABCDE. Other participating institutions in this round of financing for Bitlayer include Stake Capital Group, WAGMI Ventures, Skyland Ventures, Flow Traders, GSR Ventures, FalconX, Metalpha, 280 Capital, Presto Labs and Caladan. In addition, well-known angel investors such as BRC20 founder DOMO and FactBlock KBW co-founder Brian Kang also participated in this round of financing. The funds raised by Bitlayer in this round of financing will be used for global market expansion, supporting more developers to build and deploy more protocols to Bitlayer.
Bitlayer is the first Bitcoin security equivalent Layer 2 based on BitVM, dedicated to becoming the computing layer of Bitcoin. Bitlayer aims to introduce hyper-scalability to Bitcoin while inheriting its security and providing users with a high-throughput, low-cost transaction experience.
Igloo, Inc. Completes Over $11 Million Funding Led by Founders Fund to Develop New Consumer Blockchain Abstract
Igloo, Inc. ("Igloo"), the parent company of Pudgy Penguins, announced the completion of a financing of over $11 million led by Founders Fund, with participation from Distributed Capital, 1kx, Everest Ventures Group and Selini Capital. Igloo plans to use this strategic financing to develop its new business Cube Labs, which will oversee and participate in the development of Abstract as a contributor.
According to reports, Abstract is a new blockchain focused on consumption, incubated by the non-profit organization Abstract Foundation, and its test network will be launched soon.
Digital bank Revolut plans to sell $500 million in employee shares, raising its valuation to $45 billion
Digital bank Revolut plans to sell employee shares worth about $500 million, according to The Wall Street Journal. The deal would value Revolut at $45 billion, according to people familiar with the matter. Revolut has been in talks with investment firm Greenoaks about the sale, which would pave the way for its potential initial public offering (IPO). It is reported that early employees of startups usually receive shares as part of their compensation, which they can sell when the company goes public. Revolut's goal may be to allow employees to cash out their shares while increasing the company's valuation before its IPO.
Tesla's total revenue in the second quarter of this year was US$25.5 billion, and its Bitcoin holdings remained unchanged for eight consecutive quarters
Tesla's latest second-quarter 2024 financial report shows that the company's total revenue in the second quarter of this year was US$25.5 billion, higher than the expected US$24.63 billion. GAAP net profit was US$1.5 billion and free cash flow was US$1.34 billion. In addition, Tesla did not sell or buy any Bitcoin in the quarter, marking the eighth consecutive quarter without any buying and selling operations. Tesla currently holds about 9,720 Bitcoins, with a purchase cost of approximately US$337 million. The last time Tesla reduced its holdings of Bitcoin was in the second quarter of 2022, when the company sold more than 30,000 Bitcoins for US$936 million, accounting for about 75% of its Bitcoin holdings. Tesla initially purchased $1.5 billion worth of Bitcoin in early 2021. In addition, Musk said in a conference call that the company will release its driverless taxi Robotaxi on October 10, which was originally scheduled to be released on August 8.
Mining News
Riot Platforms acquires Bitcoin miner Block Mining for $92.5 million
According to The Block, Bitcoin mining company Riot Platforms acquired Kentucky-based Bitcoin miner Block Mining for $92.5 million. The acquisition is expected to immediately increase operating capacity by 60 megawatts, and plans to expand self-mining operations to 110 megawatts by the end of 2024. The transaction includes $18.5 million in cash and $74 million in Riot common stock. Riot aims to expand its total power capacity to 2 gigawatts.
Important data
Ethereum spot ETF had a total net inflow of over $106 million yesterday, and its trading volume on the first trading day exceeded $1.1 billion
According to SoSoValue data, yesterday (July 23, Eastern Time), the first day of Ethereum spot ETF listing, the total net inflow was $106.78 million. Yesterday, Grayscale Ethereum Trust ETF ETHE had a net outflow of $484 million, and Grayscale Ethereum Mini Trust ETF had a net inflow of $15.15 million. The Ethereum spot ETF with the largest net inflow yesterday was BlackRock ETF ETHA, with a net inflow of $266 million, followed by Bitwise ETF ETHW, with a net inflow of $204 million. In addition, Fidelity ETF FETH had a net inflow of $71.31 million.
As of press time, the total net asset value of the U.S. Ethereum Spot ETF was US$10.24 billion, and the ETF net asset ratio (market value as a percentage of Ethereum's total market value) was 2.45%.
Bitcoin spot ETF had a total net outflow of about $78 million yesterday, the first net outflow after net inflows in the past 12 days
According to SoSoValue data, yesterday (July 23, Eastern Time), the total net outflow of Bitcoin spot ETFs was $77.9704 million. Yesterday, the Grayscale ETF GBTC had a single-day net outflow of $27.3094 million, and the current historical net outflow of GBTC is $18.722 billion.
The Bitcoin spot ETF with the largest daily net inflow yesterday was BlackRock's IBIT ETF, with a daily net inflow of $71.9426 million. Currently, IBIT's total historical net inflow has reached $19.567 billion. As of press time, the total net asset value of Bitcoin spot ETFs is $59.97 billion, and the ETF net asset ratio (market value to Bitcoin's total market value) is 4.62%, with a historical cumulative net inflow of $17.46 billion.
32,371 BTC were transferred out of Mt.Gox address, worth about $2.13 billion
According to Arkham data, at 12:46 Beijing time, the Mt.Gox cold wallet address (15yPUCW9XRmPpNtQkzYogtfgi99pk8rvwe) transferred 32,371 BTC to the address starting with "12Gws9", worth about $2.13 billion. It is worth noting that the cold wallet address starting with "15yPUC" is the address that received 42,587 BTC (worth about $2.85 billion) from the Mt.Gox address yesterday.
Mt.Gox has transferred about 61,560 BTC to exchanges for compensation, and there are still 80,000 BTC waiting to be transferred and distributed
According to on-chain analyst Ember, Mt.Gox transferred 5,106 BTC (about $335.76 million) to Bitstamp for compensation distribution today. So far, 61,558.9 BTC (about $3.894 billion) have been transferred to the exchange for compensation distribution, and 51,342.8 BTC (about $3.218 billion) that entered Bitbank, SBI VC Trade and Kraken have been paid. Currently, Mt.Gox still has 80,126 BTC (about $5.288 billion) that have not been transferred out to the exchange for compensation distribution.
Bitcoin network transaction fees dropped to 4 satoshis per byte, about $0.37
Mempool data shows that the transaction fee of the Bitcoin network is currently 4 satoshis/byte, and the three priority levels of high, medium and low are all 4 satoshis/byte, which is about US$0.37.
BTC and ETH options with a total notional value of approximately $5.72 billion will expire this Friday
According to Deribit data cited by unfolded., BTC options and ETH options with a total nominal value of approximately $5.72 billion will expire this Friday. Among them, the nominal value of the expiring BTC options is $39.9, the Put Call Ratio is 0.62, and the maximum pain point is $63,000; the nominal value of the expiring ETH options is $1.73 billion, the Put Call Ratio is 0.47, and the maximum pain point is $3,400.
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