Headlines

U.S. SEC Chairman adjusts crypto view: from "all tokens are securities" to "tokens lack proper disclosure"

In an interview with CNBC Squawk Box, Gary Gensler, chairman of the U.S. Securities and Exchange Commission, seemed to have changed his attitude and views on cryptocurrencies from "all tokens are securities" to "tokens lack proper disclosure." (Cointelegraph)

Vitalik: Celebrities issuing Meme coins are not good for money, but if they have public welfare goals and other characteristics, they will get more respect

Vitalik Buterin responded to the discussion about "Celebrities issuing Meme coins" on the X platform, saying: "So far, I am very dissatisfied with 'this round of celebrity experiments'. 'Financialization is a means to an end', if the end is worthwhile (health care, open source software, art, etc.), I can respect it. But financialization as an end product is very unpleasant. Ashton and Mila's 'Stoner Cats' is far more glorious than anything we've seen in the celebrity meme era of 2024-at least a real show has been funded. How can we push things in a better direction?" He also summarized the functions that celebrity encryption projects need to have, and he would be more willing to show respect: "1. There must be some kind of public welfare goal, rather than making celebrities and early adopters rich. In fact, it is either an art project or a celebrity's favorite charity, or both; 2. Have some interesting mechanisms, not just trading tokens. Although I don't like token voting DAOs, at least they give people something to do and organize. DAO should not completely determine the agenda, but it can have some impact; 3. Do something that lasts for 10 The North Star should be: have a project that regular people would be happy to have participated in even if all tokens involved eventually go to zero. Regular businesses and charities achieve this all the time. It’s a low bar, but it’s what we build.”

Bybit adds China (CN) to its user identity authentication region, aiming to provide services to overseas Chinese users

According to the official website, China (CN) has been added to the Bybit platform user identity authentication countries and regions. Bybit responded to Odaily that this authentication is aimed at providing services to overseas Chinese users.

Industry News

Reuters poll: Most respondents expect Fed to cut interest rates in September

Reuters polled 74 of 116 economists predict the Fed will cut rates by 25 basis points for the first time in September, with only five predicting a rate cut in July, down from 11 in the May poll, and no one predicting a rate cut in June. "The Fed is in a good position in terms of how restrictive monetary policy is on the economy right now," said Oscar Munoz, chief U.S. macro strategist at TD Securities. 68 of 116 respondents predict two rate cuts this year, roughly the same as last month's survey. Inflation, especially the PCE price index, has remained high, and coupled with very low unemployment, the likelihood of an early rate cut is slim. The median forecast shows that inflation measures such as CPI, core CPI, PCE and core PCE are not expected to reach 2% until at least 2026. The unemployment rate will remain tightly around the current 3.9% until at least 2027, indicating that the labor market will continue to be tight. (Jinshi)

U.S. SEC Chairman: Crypto exchanges are doing things that the law would never allow the NYSE to do

According to market sources, Gary Gensler, Chairman of the U.S. Securities and Exchange Commission, said that cryptocurrency exchanges are doing things that the law would never allow the New York Stock Exchange or traditional exchanges to do.

Project News

Bitcoin mining company Riot Platforms produced 215 BTC in May, a 43% decrease from the previous month.

Bitcoin mining company Riot Platforms produced 215 BTC in May, a 43% decrease from the previous month. The decrease in mining revenue is a direct result of the Bitcoin halving on April 20. In anticipation of a decline in Bitcoin production, Riot planned infrastructure upgrades in advance to maintain production after the Bitcoin reward halving. Riot's goal is to reach a total computing power of 31 EH/s by the end of 2024 and 41 EH/s by 2025. To this end, the company has signed a long-term master purchase agreement with MicroBT, which includes an initial order for 33,280 mining machines for the new mine. (Cointelegraph)

The Open Campus community voted to approve the proposal to distribute 150 million EDU rewards to EDU Chain masternode operators.

Open Campus posted on the X platform that the community has voted to pass the OCP-8 proposal to allocate more EDU rewards to EDU Chain masternode operators. Specifically, the community has approved the allocation of 150 million EDU tokens, accounting for 15% of the total supply, as rewards for active masternode operators. These rewards will be issued over three years to incentivize operators' efforts to protect and decentralize the EDU Chain. Earlier in late May, Open Campus announced the launch of EDUPool on the X platform to support node operators in staking EDU tokens. Active masternode operators who verify transactions on the EDU Chain will receive token airdrops from partners built on the EDU Chain.

Aethir announces airdrop details: 6% of ATH total supply will be used for airdrops, Season 1 airdrop will be open for claiming on June 12

According to official news, Aethir announced the details of the ATH token airdrop: the total supply of ATH is 42 billion, of which 2.52 billion (6%) have been reserved for airdrop rewards. The Aethir airdrop event will be divided into three Seasons, and Season 1 (Aethir Cloud Drop) ended on May 29. The airdrop season rewards are as follows:- Season 1: 630,000,000 ATH- Season 2 (starting in about 8 months): 630,000,000 ATH- Season 3 (starting in about 16 months): 1,260,000,000 ATH Aethir Cloud Drop participants are included in the Season 1 airdrop, of which 74.5% of the rewards will be reserved for Aethir community members (including Checker Node), and 25.5% will be allocated to the external community. The Aethir Cloud Drop claiming process will take place on June 12th through a dedicated claiming platform. On that day, all Aethir Cloud Drop participants can claim their ATH allocations through a designated link. In Season 2 and Season 3, rewards will be reserved for users who actively participate in Aethir mainnet activities, including staking ATH, actively delegating Checker Node licenses to promote the daily operations of the network, and holding the initial reward amount. Another 50% of the total ATH supply is reserved for the Aethir community, with 15% for Aethir Checker Node rewards and another 35% for Aethir cloud computing container operators (23% for edge computing providers and 12% for enterprise computing providers). With the June 12th airdrop open for claiming, the official Aethir staking function will also be launched.

Taiko: 10% of total token supply will be allocated in Trailblazers event

According to official news, Taiko has announced that the first phase of the TAIKO airdrop is open for application. Users who are not eligible for the first phase of the airdrop can participate in the Trailblazers event. Taiko stated that its upcoming Trailblazers Program will allocate 10% of the total supply of TAIKO tokens.

TAIKO airdrop first phase application is now open

According to official news, the first phase of the TAIKO token airdrop is now open. Eligible users can now claim 5% of the initial TAIKO supply, which is about 50 million tokens. Eligible users include: 1. Taiko proposers and provers; 2. Taiko bridgooors; 3. Taiko users (also including Galxe points holders); 4. Taiko developers; 5. GitHub contributors; 6. Loopring community members. Claim period: June 5, 2024 to July 5, 2024.

OKX will open Ultiverse (ULTI) spot trading at 18:00 on June 6

According to official news, Ultiverse (ULTI) will soon be listed on the OKX spot trading market, and trading will be open at 18:00 on June 6, Beijing time.

Coinbase Smart Wallet is now live, reducing the number of transactions to sign

Coinbase today launched its promised Smart Wallet, a product designed to reduce barriers for new users looking to enter the DeFi space. "Smart Wallet enables users to create a free, secure, self-custodial wallet in seconds, simplifies the onboarding process, reduces the number of transactions you need to sign, and allows you to use your Coinbase balance seamlessly," wrote Siddharth Coelho-Prabhu, senior director of product management at Coinbase, in a blog post announcing the release of Smart Wallet. (Decrypt)

UniSat: Pizza minting is complete and will be airdropped within 48 hours

UniSat posted on the X platform that the pizza minting has been completed and will be distributed in the next 48 hours. According to previous news, there are more than 200,000 addresses that meet the pizza airdrop qualification.

Galxe announces the first batch of GAL staking snapshot time and details

Galxe will snapshot the first batch of GAL staking rewards at 10:00 am Beijing time on June 14. The first batch of rewards will include ARB, MERL, and ZK (Polyhedra). The three rewards will follow different staking rules: 1. ARB, no minimum staking GAL quantity requirement, the maximum GAL quantity is limited to 200k; 2. MERL, the minimum staking GAL quantity requirement is 200, the maximum GAL quantity is limited to 5k; 3. ZK (Polyhedra), the minimum staking GAL quantity requirement is 100, the maximum GAL quantity is limited to 10k.

Modular game Layer 1 Tabi releases public token sale details

The modular game Layer 1 Tabi published a post on the X platform announcing the details of the token public sale. The public sale is scheduled to take place from June 13 to July 13. This public sale has three features: Dutch auction, fair pricing, and a buyback after the issue price drops.

Nocturne, the privacy protocol in which Vitalik participated, will gradually shut down the company

Nocturne, a privacy protocol in which Vitalik participated, posted on the X platform: "After stopping the privacy protocol established earlier last year, we decided to gradually shut down the company. The front-end app.nocturne.xyz will remain open for withdrawal services until the end of this month. From then on, we will convert the withdrawal process to self-service through this GitHub repository and provide detailed instructions on how to withdraw funds using CLI tools." Earlier in October 2023, Nocturne Labs announced the completion of a $6 million seed round of financing, led by Bain Capital Crypto and Polychain Capital, with participation from Vitalik Buterin, Bankless Ventures, Hack VC, Robot Ventures and others.

Character*Voice

LayerZero Co-founder: I personally hope to have another two months to conduct witch inspections

LayerZero co-founder and CEO Bryan Pellegrino posted on the X platform: “I hope to have another two months to deal with the inspection of witch reports. There are some very obvious large witch clusters, including thousands of addresses, but due to time reasons, I have to give up checking them because they are extremely unlikely to meet LayerZero’s final airdrop qualifications, but I am sure they may get other airdrops.” Pellegrino added: “It should be noted that this is just my personal venting because I don’t have that much time. LayerZero’s TGE timeline remains unchanged.”

Vitalik responds to questions about Ethereum's lack of clear development direction: The community has a solid consensus on the L1 roadmap, but resources are still needed for implementation

In response to Emmanuel Awosika's comment that "Ethereum in 2024 is like a scientific laboratory experiment, lacking an overall plan", Vitalik Buterin replied: "I think the challenge is more subtle. We have a very solid consensus on the direction of L1 development. What we lack is a similar common understanding of infrastructure beyond the L1 ecosystem. If you look back at the examples you gave, you will find that 75% of them are not based on L1, which is a higher-level ecosystem construction and standardization challenge. 'Enshrined bridging', 'rollup decentralized technology', 'multi provers'... do not have L1 characteristics. It is not enough to have a roadmap, we also need resources to execute it. ERC-7683 is a good progress, Waku is also a good progress, but we need more than 10 similar innovations, and a coherent blueprint to know what is missing, who is building them, and ensure that they have the resources and motivation to do these things." Earlier, Uniswap Labs announced on the X platform that it would propose a new cross-chain intention standard with Across Protocol. ERC-7683 aims to establish a unified framework for intent-based specified cross-chain operations. According to reports, the standard allows the implementation of a standard API for cross-chain transaction execution systems. The standard provides a common CrossChainOrder structure and a standard ISettlementContract smart contract interface.

Arthur Hayes: A wave of interest rate cuts from central banks is coming

Arthur Hayes, founder of BitMEX, posted on the X platform: "The Bank of Canada cut interest rates, the European Central Bank will announce its decision today, and the market expects a rate cut. Take risks, it's yacht time! This summer is much more interesting than I thought."

Investment and Financing

Tether makes $18.75 million strategic investment in blockchain financial institution XREX Group

According to official news, Tether announced a strategic investment of $18.75 million in XREX Group, a fully regulated blockchain financial institution. The cooperation aims to promote innovation in the digital asset industry, promote USDT-based cross-border payments in emerging markets, and innovate regulatory technology. XREX will use the new funds to promote compliant, USDT-based cross-border B2B payments in emerging markets, and transform financial transactions by providing businesses with a more convenient, efficient and low-cost way. In addition, XREX will work with the Unitas Foundation to launch XAU 1, a unit stablecoin pegged to the US dollar and backed by Tether Gold (XAUt) excess reserves.

Web3 network security company GoPlus raises $10 million from investors including OKX Ventures

Web3 network security company GoPlus has completed a $10 million private equity financing, with participation from OKX Ventures, HashKey Capital and Animoca Brands. GoPlus is building a permissionless, modular Web 3 security layer designed to integrate with any blockchain network to help architects improve user security and protect against network threats. To supplement the growth of its security layer, GoPlus also plans to launch a token that will be used primarily to pay for gas fees and incentivize developers to use GoPlus services. (CoinDesk)

Stablecoin protocol M^0 completes $35 million Series A financing, led by Bain Capital

Stablecoin protocol M^0 has completed a $35 million Series A financing round, led by Bain Capital, with participation from Galaxy Ventures, Wintermute Ventures and GSR. (Fortune.com)

Modular blockchain project Nubit completes $8 million seed round of financing, led by Polychain Capital

Nubit, a modular blockchain project, announced on X that it has successfully raised $8 million in seed round financing, led by Polychain Capital. Other institutional investors include Nomad Capital, Spartan Group, L2 IV, Big Brain Holdings, GCR, Protagonist, Gate Ventures, Animoca and Mask Network. So far, Nubit's total financing has reached $12 million.

Security incidents

Tether CEO: It is confirmed that a mailing list provider has been hacked, please be wary of all airdrop-related emails

Tether CEO Paolo Ardoino said on X: “We have received two independent confirmations that a well-known vendor commonly used by cryptocurrency companies to manage mailing lists may have been hacked. We will not release any names until the investigation is complete, but please be wary of all emails received about airdrops in the past 24 hours.”

CoinGecko Lianchuang: The platform has been affected by the hacking of the email supplier and has no plans to issue coins

CoinGecko co-founder Bobby Ong posted on X: "An email address book provider is under attack... CoinGecko may also be affected, and we are actively working with the provider to investigate to determine the impact of this leak. We have found some phishing emails impersonating CoinGecko. We currently have no plans to issue CoinGecko tokens, so don't be fooled by these phishing emails."