U.S. judge approves Terraform's $4.47 billion settlement with SEC
According to Cointelegraph, Judge Jed Rakoff of the Southern District Court of New York approved the $4.47 billion settlement agreement reached between Terraform Labs and Do Kwon and the U.S. Securities and Exchange Commission (SEC). According to the agreement, Terraform will recover $3.58 billion in illegal gains and pay a civil penalty of $420 million and nearly $467 million in pre-judgment interest, and its co-founder Do Kwon will be prohibited from serving as an executive or director of a listed company.
Market News: US SEC Chairman expects Ethereum ETF's S1 application to be approved sometime in the summer
According to @tier10k, U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler expects the S1 application for an Ethereum ETF to be approved sometime in the summer.
In addition, according to Fox reporter Eleanor Terrett, Gensler made this statement while talking with Senator Bill Hagerty. To clarify the details: Gensler said "during this summer" while Hagerty said "before the end of this summer."
SEC Chairman discusses challenges DeFi faces in enforcing AML laws
According to Fox reporter Eleanor Terrett, Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), just talked about the challenges DeFi faces in enforcing anti-money laundering laws due to the permissionless nature of blockchain.
Swiss regulator closes crypto-related bank FlowBank, initiates bankruptcy proceedings
According to CoinDesk, the Swiss Financial Market Supervisory Authority (FINMA) announced the closure of crypto bank FlowBank on Thursday, saying that the bank "no longer has sufficient capital to maintain its banking business" and "seriously violated minimum capital requirements." FINMA also said that "there are good reasons to worry that the bank is currently over-indebted" and "has no prospects for restructuring." Switzerland's top law firm Walder Wyss has been appointed by FINMA as the bank's bankruptcy liquidator.
FlowBank was founded in 2020, and crypto asset management company CoinShares acquired a 9% stake in the bank for $11.8 million in 2021. Earlier this year, it was reported that Binance would allow large traders to hold crypto assets in FlowBank or another Swiss crypto-friendly bank Sygnum. According to a document published on the FINMA website, customers who deposit up to 100,000 Swiss francs (about $111,710) in FlowBank will receive their funds within seven business days.
OpenAI appoints former NSA chief to board of directors
According to Bloomberg, OpenAI has appointed retired U.S. Army General Paul Nakasone as a member of its board of directors. Nakasone has served as director of the National Security Agency (NSA) and leader of the U.S. Cyber Command. He will also join OpenAI's newly formed Safety and Security Committee, which focuses on OpenAI's key security decisions.
Coinbase International will launch BOME and NOT perpetual contracts
Coinbase International Exchange posted on the X platform that Coinbase International Exchange and Coinbase Advanced will launch BOME and NOT perpetual contracts. The BOME-PERP and NOT-PERP markets will be open at or after 17:30 on June 20, 2024 (GMT+8).
ZK Nation: Spent several days investigating and verifying the airdrop data and found no major issues
ZK Nation said on Twitter that the 2024 airdrop faces great challenges because the millions of robots operated by advanced industrial farms are difficult to distinguish from real users in terms of behavior patterns, which makes traditional activity-based airdrops ineffective in building lasting and sustainable communities. Although ZK Nation's airdrop design has shortcomings, they believe that the trade-offs made are reasonable. This airdrop will benefit hundreds of thousands of people and bring life-changing opportunities to many people.
ZK Nation also admitted that some people were not satisfied with the amount of the airdrop. To this end, they spent several days investigating and verifying the data and found no major problems, but also admitted that the communication on the details of the airdrop design was not clear enough. To address these issues, they have developed a series of FAQs to respond to community questions and will continue to improve the feedback mechanism to answer all questions in a transparent manner. The official claiming of the airdrop will begin on June 17.
Zapper announces Zapper Protocol, powered by ZAP token to be released in Q4
DeFi asset management platform Zapper announced the launch of Zapper Protocol, an open protocol designed to incentivize users to read and interpret on-chain information. Zapper hopes to improve the on-chain literacy of global users through this protocol so that everyone can understand the true potential of Ethereum. The protocol will be run through the $ZAP token and is scheduled to be released in the fourth quarter of 2024.
The first phase of Zapper Protocol will allow anyone to contribute to making the blockchain more readable. Users can add new DeFi protocol integrations through index templates or convert complex on-chain transactions into human-readable outputs through event interpreters.
Tabi Chain announces TABI token economics: 8% airdrops, 40% mining
Tabi Chain, the EVM-compatible gaming blockchain on Cosmos, announced the TABI token economics on the X platform. The total supply of TABI tokens is 10 billion, and the distribution ratio is as follows: mining 40%, airdrop 8%, team 14%, investors 14%, ecosystem 15%, public sale 4%, marketing and consultants 5%.
BNB Chain and Binance Labs Partner to Launch BNB Incubation Alliance to Foster Early-Stage Blockchain Innovation
BNB Chain announced in an official blog that BNB Chain and Binance Labs have launched the BNB Incubation Alliance (BIA) to promote early blockchain innovation by collaborating with other venture capital firms and incubators. The incubator aims to support and accelerate the development of early blockchain projects through a series of global activities. A highlight of the program is that winning projects have the opportunity to quickly enter the prestigious "Most Valuable Builder" (MVB) program, receive BNB Chain funding, receive Launch-as-a-Service (LaaS) packages, and potential Binance Labs investment opportunities.
Manta Foundation Launches $50 Million Ecosystem Fund, Now Open for Applications
The Manta Foundation announced the official launch of the Manta Foundation Ecosystem Fund, a $50 million fund pool that includes direct investments and funding programs for the ecosystem. Applications are now open. Of this, $35 million will be used to directly invest in projects on the Manta Network; $10 million will be used to fund DeFi, AI, ZK, games, Memecoin and other fields; and $5 million will be used to host hackathons and events to develop the Manta community. The $50 million grant comes directly from the Foundation's treasury.
NEAR Foundation Establishes Nuffle Labs and Receives $13 Million in Funding
According to CoinDesk, the NEAR Foundation has established Nuffle Labs and received $13 million in funding. The fundraising also includes external investors such as Electric Capital, Canonical Crypto, Fabric Ventures, Robot Ventures, Caladan and Lyrik Ventures, which will promote the development and decentralization of the NEAR ecosystem. Nuffle Labs will use NEAR's products to provide data availability and fast final layers.
Curve founder Michael Egorov's $140 million CRV lending position has been liquidated
According to Arkham monitoring, the price of CRV fell below the liquidation price of Curve founder Michael Egorov, and all of his nine-digit ($140 million) loan positions in five protocols were liquidated.
Michael Egorov's two accounts had a total of more than $1 million in bad debt on Curve's Llamalend, which he liquidated after receiving 6 million USDT from NFT whale Christian in the past hour.
Curve founder said: We are solving the liquidation risk problem, have repaid 93% of bad debts and will repay the rest
Coinbase has launched Pirate Nation (PIRATE)
Coinbase Assets tweeted that Coinbase will add support for Pirate Nation (PIRATE) on the Ethereum network (ERC-20 token). Do not send this asset through other networks, otherwise your funds may be at risk of loss. Pirate Nation (PIRATE) is now available on coinbase.com, Coinbase iOS and Android apps with an experimental label. Coinbase customers can log in to buy, sell, convert, send, receive or store these assets.
UwU Lend will offer a $5 million bounty to the first person to find the hacker
According to The Block, after the UwU Lend attacker failed to return the funds, the protocol is taking another step to find the hacker. According to the Input Data Message (IDM) on Ethereum, UwU Lend will offer a $5 million ETH bounty to the "first person to identify and find" the hacker, adding that "no funds or fees are required to be recovered." Previously, the protocol had left a message to the hacker, saying that he only needed to return 80% of the funds and the remaining 20% could be kept by himself. The protocol will not pursue the matter further and will not involve law enforcement agencies in the matter. The hacker must return the funds before 1 pm EST on Wednesday. But in a message sent to the hacker on Thursday, UwU Lend said that "the deadline for returning the stolen funds has expired."
Holograph: The operating contract was attacked maliciously, the initial vulnerability has been patched and law enforcement is in contact
Holograph, a full-chain NFT protocol, tweeted that the operating contract was maliciously attacked and hackers used the vulnerability to mint an additional 1 billion HLG. The team has patched the initial vulnerability and is working with exchanges to block malicious accounts. The team has launched an investigation and is in contact with law enforcement. The incident caused the price of HLG, the native token of the Holograph protocol, to plummet by more than 60%. On-chain data shows that the ENS wallet acc01ade.eth was involved in the attack. The Github page shows that they are also contributors to the project.
Paradigm has raised $850 million for its third fund, focusing on early-stage crypto projects
Crypto exchange BITAI announces completion of $20 million seed round, with participation from Jump Crypto and others
Web3 AI smart crypto exchange BITAI announced on X platform that it has completed a $20 million seed round of financing, led by Firat Round, with participation from Jump Crypto and Dragonfly. All funds raised will be used to promote the development of BITAI exchange. BITAI said it is committed to providing digital financial trading solutions based on Web3.0 and has obtained the US MSB cryptocurrency trading license certification.
JPMorgan Chase: Cryptocurrency market net inflows reach $12 billion so far this year
According to CoinDesk, JPMorgan Chase (JPM) released a research report on Wednesday, pointing out that digital assets have achieved a net inflow of $12 billion so far this year, and if the current speed is maintained, it is expected to increase to $26 billion by the end of the year. Among them, the spot Bitcoin ETF has become the main attraction, absorbing a net inflow of $16 billion. Combined with the inflow of Chicago Mercantile Exchange (CME) futures and the fundraising of crypto venture capital funds, the total inflow of the digital asset market this year has reached $25 billion.
PANews APP has updated its functions, download and experience it now!
【Comment】Speak freely and exchange views
【Floating window】Reading interrupted, return at any time
【Search within the article】Quickly locate and get to the core