● Binance assists Dutch authorities in recovering millions of euros in ZKasino gambling platform fraud funds

According to a Binance blog post, Binance's Financial Crime Compliance and Investigations team worked with the Dutch Fiscal Information and Investigation Service (FIOD) to freeze millions of euros in funds involved in the ZKasino scam. On April 29, the FIOD arrested a suspect for fraud, embezzlement and money laundering in connection with the ZKasino scam. ZKasino had promised investors to return their investments within 30 days, but the investigation found that the platform's smart contract settings indicated that such returns were not actually intended to be realized. Binance's anti-money laundering detection tools and data analysis capabilities help detect suspicious activities and assist law enforcement officers in tracking suspects. The investigation into this case is still ongoing, and the FIOD said that "more arrests are not ruled out."

● Grayscale CEO: The company will focus on spot Ethereum products

According to BlockBeats, Grayscale CEO Michael Sonnenshein said on Wednesday that the company will focus on converting its Ethereum Trust Fund, the world's largest Ethereum Trust Fund, into a spot exchange-traded product. Michael Sonnenshein said during an event hosted by the Financial Times in London: "At Grayscale, we decided to focus on our spot products. This is really the core of our DNA."

On Tuesday, the crypto-native asset management company withdrew its application to the U.S. Securities and Exchange Commission to offer an Ethereum futures ETF. The company submitted the application last October. Michael Sonnenshein said that the asset management company withdrew the application because there are already many futures products for investors to choose from.

● Citigroup, JPMorgan Chase and other US financial giants explore shared ledger technology for multi-asset transactions

According to Odaily Planet Daily, large companies interested in financial services such as Citi, JPMorgan Chase, Mastercard, Swift and Deloitte will join forces to explore shared ledger technology by simulating multi-asset transactions in US dollars. According to a statement, the research project, called the "Regulated Settlement Network (RSN) Proof of Concept (PoC)", will explore the potential of bringing commercial bank funds, wholesale central bank funds, and securities such as US Treasury bonds and investment-grade debt to a common regulated venue.

● EMC Labs report: In April, the stablecoin market inflow reached US$7 billion, providing financial support for the rebound in the future market

According to Odaily Planet Daily, recently, EMC Labs, a crypto asset investment research institution, released a report for April 2024 titled "Macro-Financial Crisis Flashes, On-site Funds Remain Unmoved". The report shows that in April, the funds entering the market with the help of stablecoins reached $7 billion, of which USDT accounted for $6.1 billion and USDC accounted for $900 million. According to eMerge Engine, BTC entered the repair phase of this cycle in 2023, and achieved net inflows for the first time in October. Stablecoins have been in a state of additional issuance, and ranked second with an inflow of $7 billion in April. The market selling pressure has dropped significantly this month. Although BTC suffered a sharp correction after rising in July, the market's potential buying power is still abundant, providing financial support for the rebound in the future.

● 10x Research: This round of cryptocurrency bull market cycle may be shorter than before

According to BlockBeats, 10x Research said on the X platform that the current cryptocurrency bull market cycle may be shorter than previous cycles and is unlikely to reach a high point in a broad altcoin rally. Despite daily trading volumes of more than $100 billion and rapid development and updates of cryptocurrency projects, the industry's growth potential is still greatly limited. On the other hand, real-time on-chain analysis keeps cryptocurrency traders engaged, in contrast to traditional stock investors who wait for quarterly earnings. However, the challenges facing the cryptocurrency market may limit the breadth and duration of the bull market. In the next ten weeks, nearly $2 billion in token unlocking will continue, which may reduce the market price of altcoins.

● Binance Research: Rune transaction fees have exceeded $145 million, accounting for about 45% of all Bitcoin transactions

According to a new report released by Binance Research, “The Future of Bitcoin #2: Tokens”, it shows: 1. Runes have had a significant impact on Bitcoin’s fees and transaction volume. Since its launch, its fees have exceeded US$145 million, accounting for about 45% of all Bitcoin transactions; 2. The Runes protocol leverages Bitcoin’s unique UTXO model to introduce fungible tokens into the chain; 3. Runes are completely unrelated to Ordinals, Inscriptions, and BRC-20 tokens, and are in direct competition with BRC-20.