1. Users unhappy with the ZKsync airdrop are launching a widespread criticism campaign
Currently, only Bybit has announced the listing of the token among the major offshore exchanges, but it has attracted thousands of criticisms. OKX CEO Star asked on Twitter: Why do many influential people in the cryptocurrency circle accuse ZKsync of being a scam? Is it because the airdrop did not meet the community's original expectations? Most of the comments criticized insiders and projects for receiving too many tokens. Binance co-founder He Yi said on Twitter Space: The root cause is that many studios reversed their investment and lost all their money. It is not yet certain whether Binance and OKX will list the token. Justin Sun also asked on Twitter whether to boycott ZKsync.
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2. The user’s mobile phone number was used by hackers to re-open an OKX account C2C and over 10 million was stolen
User Khan reported that he woke up on the morning of June 3rd and found that his mobile phone had no signal. He found that his mobile phone number had been reissued online. The hacker used the mobile phone number to retrieve his email and OKX password. After the user logged into his account, he found that his OKX assets had been cleared. Since the new device had a 24-hour withdrawal freeze, the hacker used C2C transactions to transfer about 1.46 million US dollars in crypto assets (the merchant did not pay, and the hacker directly confirmed it). OKX Haiteng responded that there are still many doubts about this case after it happened on June 3rd. How was the mobile phone card successfully reissued? How was the mailbox with an independent password stolen? How was the capital flow after the C2C transaction? These all happened outside the platform. On June 4th, the judicial authorities have intervened in the investigation, and the platform has provided relevant materials and cannot disclose more information. If the platform's responsibility is determined in the future, the platform will bear the corresponding responsibility, but the main goal is still to recover assets.
3. Vitalik supports the use of the new image compression mode TiTok for on-chain image storage
Ethereum founder Vitalik Buterin highlighted the blockchain potential of the new image compression mode TiTok on Farcaster, saying that 320 bits is basically a hash value. Small enough for every user to be on-chain. This development could have a significant impact on the storage of digital images for personal profile pictures (PFP) and non-fungible tokens (NFTs). According to the TiTok research paper, advanced artificial intelligence (AI) image compression enables TiTok to compress 256x256 pixel images into 32 discrete markers.
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4. Bloomberg ETF Analyst: Ethereum ETF launch date may be brought forward to July 2
The staff is said to have sent comments about the S-1 to the issuer today and the comments are brief, no big issues, and ask for a response in a week. There is a good chance they will announce it next week and resolve the matter before the holidays. Anything is possible, but this is our best guess at this point. The previous predicted date was July 4th, so this is not a major shift.
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5. Türkiye considers 0.03% tax on crypto transactions
Turkey's Ministry of Finance is considering imposing a 0.03% transaction tax on cryptocurrency transactions to cope with the budget deficit caused by the earthquake and increase fiscal revenue. The move is expected to bring the government 3.7 billion liras in revenue each year. The proposal is part of Turkey's fiscal reforms and is expected to be discussed in parliament at the end of this month.
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6. El Salvador’s President proposes to set up a private investment bank that allows investments in BTC and USD
El Salvador President Nayib Bukele has proposed setting up a private investment bank to provide financial services to Bitcoin investors and reduce the restrictions of traditional banks. The bank will allow investors to trade in both U.S. dollars and Bitcoin and may become a digital asset and Bitcoin service provider. The proposal is expected to be submitted to the parliament for discussion at the end of this month and has not yet been approved.
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7. Wu's Weekly Selection: US CPI is lower than expected, spot Ethereum ETF is delayed until the end of summer, Binance users exceed 200 million and News Top 10
Top 10 News of the Week
1. The US announced that the unadjusted CPI annual rate in May was 3.3% link
The U.S. announced that the unadjusted CPI annual rate in May was 3.3%, which was lower than market expectations, and the expected 3.4%. The unadjusted core CPI annual rate in May was 3.4%, which was lower than market expectations, and the expected 3.5%. The previous value was 3.6%, the lowest level since April 2021.
In addition, the Fed announced that it would keep interest rates unchanged at 5.25–5.5%, in line with market expectations. According to the dot plot shared by Nick Timiraos, four Fed officials believe that there will be no rate cuts this year, up from two officials in the March forecast. Seven officials believe that there will be one rate cut, while eight officials believe that there will be two rate cuts. This means that a slight majority of officials believe that there will be at most one rate cut this year as a basic expectation.
2. Biden campaign in talks to accept cryptocurrency donations link
U.S. President Biden's campaign is discussing with cryptocurrency industry players about accepting cryptocurrency donations through Coinbase Commerce. Biden's team hopes to attract voters who are concerned about cryptocurrency and enrich campaign funds. A person familiar with the matter said: "People in the (Biden) core circle specifically told the Biden team that if you remain silent on cryptocurrency issues and don't keep up with the speed, you may lose the election. At present, the Biden camp's negotiations to accept cryptocurrency donations are still exploratory."
3. Trump: I hope all remaining Bitcoins are made in the United States link
Trump campaigned on his media outlet Truth Posts and said that Bitcoin mining may be our last line of defense against CBDC; Biden is full of hatred for Bitcoin; we hope that all remaining Bitcoins are made in the United States, which will help us dominate in energy.
Earlier, Bitcoin Magazine released photos showing that Donald Trump met with the CEO of Bitcoin Magazine and representatives of American Bitcoin miners, and pledged to support the crypto mining industry. In addition, Donald Trump also told Bitcoin mining company CleanSpark that he liked what it was building. In recent months, Donald Trump's interest in cryptocurrencies has clearly increased, and he has publicly expressed support for cryptocurrencies many times, becoming the first presidential candidate of a major party to accept cryptocurrency donations.
4. US SEC Chairman: Approval of ETH spot ETF S-1 may be completed before the end of this summer link
According to Fox reporter Eleanor Terrett, Gary Gensler, chairman of the U.S. SEC, has just told Senator Bill Hagerty that he expects the approval of the ETH spot ETF S-1 to be completed by the end of this summer. Generally speaking, summer in the United States refers to June to August. Gary also mentioned that DeFi faces challenges in enforcing anti-money laundering laws due to the permissionless nature of blockchain.
When asked directly whether Ethereum (ETH) is a commodity, SEC Chairman Gary did not answer yes or no, but maintained an indecisive stance on the asset. During the same hearing, when asked whether Ethereum is a commodity, Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam replied: Yes.
U.S. Senator Bill Hagerty said he encouraged the SEC to provide clear guidance on cryptocurrencies, saying "the industry needs to have a proper ecosystem in place...so that we don't push it overseas." SEC Chairman Gary countered that breaking the law and not liking the law are two different things from a lack of clarity.
5. Ethereum founder Vitalik offers suggestions on how memecoins continue to dominate narratives link
In response to the phenomenon that memecoin continues to dominate the narrative, Ethereum founder Vitalik listed several directions that he believes can expand and improve the daily applications of cryptocurrencies, including zk reputation/identity/credentials, p2p cross-border payments (lower fees and user experience rapidly improving in this cycle), decentralized social, prediction markets (actually available in this cycle), privacy, enterprise applications achieved through zk validiums, and zk + censorship-resistant voting.
6. Binance’s global users exceed 200 million, He Yi Space responds to questions link
Binance officially announced that at 23:58 on the evening of June 8 (Eastern Time Zone 8), the number of registered users on the Binance platform has exceeded 200 million worldwide. It took Binance 2 years and 2 months to go from 100 million to 200 million users. Binance CEO Richard said: We are very honored to announce that Binance has welcomed 200 million registered users, and this number is still growing. This achievement is a reflection of the continued trust of the crypto community and industry participants in the Binance ecosystem. We will cherish this trust — — As a user-centric platform, we are always committed to prioritizing the needs of our growing user base.
On June 13, He Yi held a Twitter Space to respond to questions.
Regarding the previous cross-trading incident, Binance co-founder He Yi said that the product gave more consideration to user ease of use and was not strict enough. After learning from the experience and lessons learned this time, the current risk control standards and levels will be improved. At that time, price fluctuations were detected, but the risk control department felt that the problem was not serious and let it go. He does not believe that "friendly competitors" are committed to stealing.
Regarding the coin listing process, He Yi said that there are indeed contradictions. If FDV's large project is not listed, many people will criticize "Binance doesn't even list such a hardcore technology"; FDV's small project, many people will criticize that Binance lists the project with so many problems; any policy has loopholes, and the whole process is a battle of wits and courage; in the future, Binance's coin listing and investment incubation hope to allow blockchain to be used more by entrepreneurs, rather than locking users into airdrops and trading scenarios.
Regarding the delisting of tokens, He Yi responded: The review of tokens will look at whether the product is under development, whether it has liquidity, whether there are many negative factors, and the regulatory rules of various countries, etc. The frequency of delisting has been lower recently. The fundamental reason is that the project parties in the bull market have become active (originally thought they were all dead), and there are special departments to monitor the projects that have been listed on a daily basis. In addition, we firmly oppose buying shells.
He Yi said that he would write emails to CZ every day and also take notes on his reading; his daily life mainly consists of fitness, making phone calls (teleconference calls), and coaxing his children to sleep, which is very boring.
He Yi said: We have also listed so-called "girlfriend coins" such as Hook, which are ridiculed by everyone. People say that its users are fake. Its users are indeed not typical cryptocurrency users. We also listed a game project, which brought millions of registrations, but only 56 trading users. Binance is trying to see if it can bring some normal business models, and it will also endure some ridicule and failures in the process.
7. After opening registration for Chinese users, Bybit will relocate its employees to Malaysia and Dubai link
Wu said that he had learned exclusively that after opening up registration for Chinese users, Bybit is launching a plan to relocate all employees to Malaysia and Dubai, and is considering closing offices in Shanghai, Shenzhen and other places in China. Currently, most technical employees are located in China. Analysts pointed out that after opening up Chinese users, domestic employees will undoubtedly bear greater risks. Bybit's move is a routine operation. Previously, other exchanges and cryptocurrency institutions also required all employees to move to overseas collective offices or they would be laid off.
8. Tether’s investment arm plans to invest more than $1 billion in the next 12 months link
Paolo Ardoino, CEO of Tether Holdings Ltd., revealed that its investment arm expects to invest more than $1 billion in trading in the next 12 months. Ardoino said in an interview that the company is focused on alternative financial infrastructure, artificial intelligence and biotechnology in emerging markets — and has invested about $2 billion in these areas over the past two years. Ardoino said that while Tether plans to continue to keep 100% of its reserves and extract an additional 6% buffer from profits to ensure smooth redemption of USDT, Tether expects to invest part of the remaining profits in trading. In addition, the company has invested more than $1 billion in the field of artificial intelligence, such as supporting data center operator Northern Data Group.
9. MicroStrategy announces plans to purchase Bitcoin via private placement of $500 million link
MicroStrategy announced plans to raise funds through a private placement of $500 million in convertible senior notes, which it plans to use to purchase more Bitcoin and for other corporate purposes. The notes will mature in 2032. MicroStrategy's private placement is open to institutional buyers who are deemed qualified, and the initial purchasers will have the option to purchase an additional $75 million in notes within 13 days of the issuance date.
10. Paradigm announces it has raised its third $850 million venture capital fund link
Paradigm announced that it has raised its third $850 million venture capital fund, focusing on early-stage crypto projects. Paradigm was founded in 2018, and co-founder Matt Huang said that his belief in the importance of crypto technology has become stronger over the past six years. Paradigm will continue to focus on early work through its entrepreneur-in-residence and incubation programs, and plans to promote the development of more open source projects in the next few years.
Key financing events
Symbiotic, a re-staking project, completes $5.8 million seed round of financing, led by Paradigm link
Nexus Labs Completes $25 Million Series A Funding link
Multi-Signature Agreement Squads Completes $10 Million Series A Funding, Led by Electric Capital link
Layer3 announces $15 million Series A funding round led by ParaFi and Greenfield Capital link
NEAR Foundation announces the establishment of Nuffle Labs and raises $13 million in funding link
Telegram’s crypto gaming ecosystem Pixelverse raises $5.5 million in funding link
On-chain data developer Irys raises $8.9 million in funding link
Metaverse platform Yuliverse announces completion of $4 million Pre-A round of financing link
DeFi protocol Ink Finance completes over $5 million in financing, GSR and others participate in the investment link
Payment startup Kima raises $5 million in funding link
Web3 social app Halo announces $3 million seed round of funding link
Decentralized data protocol Codatta announces $2.5 million seed round link
Decentralized credit protocol Qiro Finance completes $1.2 million Pre-Seed round of financing link
Binance Labs announces investment in Ethereum L2 network developer Zircuit link
For more industry financing events, please visit crypto-fundraising.info.