Headlines
Deutsche Telekom to develop Bitcoin mining business
T-Mobile (German Telecom) announced that it plans to start developing a Bitcoin mining business, expanding its ongoing crypto activities. Speaking at BTC Prague, Dirk Röder, head of Web3 infrastructure and solutions at Deutsche Telekom, said: We have been running Bitcoin nodes since 2023, and we are also running Bitcoin Lightning nodes. I want to tell you a little secret, we will soon be mining digital currencies.
▌Blockchain game Lumiterra Beta2 version is now online
According to community news, the blockchain game Lumiterra Beta 2 has been officially launched on AppStore and other channels. Earlier news, in order to provide everyone with a stable and high-quality gaming experience, the project officially announced that the launch time of Beta 2 will be postponed to 3 pm on June 14.
Quotes
As of press time, according to Coingecko data:
The latest transaction price of BTC is $66088.72, with a daily change of -0.8%;
ETH's latest transaction price is $3485.19, with a daily change of +0.49%;
BNB's latest transaction price is $603.20, with a daily change of +0.98%;
SOL's latest transaction price is $143.58, with a daily change of -2.26%;
DOGE’s latest trading price is $0.1353, with a daily change of -4.05%;
XPR’s most recent trading price is $0.475, with a daily change of -0.34%.
policy
▌US CISA: Fraudulent activities targeting crypto investors surge
The U.S. Cybersecurity and Infrastructure Security Agency (CISA) warned on June 12 that it has seen an increase in impersonation scams, often using "the names and titles of government employees." The CISA alert explained that its staff would never request to wire "cash, cryptocurrency, or use gift cards." If you suspect you are being targeted by an impersonator claiming to be a CISA employee, do not pay the caller; write down the phone number that called you; hang up immediately, and call CISA to verify the contact information.
Blockchain Applications
Crypto staking firm OkayCoin expands services to South Korea
Crypto staking company OkayCoin announced that it will expand its services to the Korean market, aiming to support the growing demand for cryptocurrency investments among Korean investors. OkayCoin's expansion in South Korea also includes establishing partnerships with local businesses and community leaders to promote collaboration on blockchain and cryptocurrency technologies.
▌Cross-chain bridge rewards are not available to US citizens
Arweave AO posted on the X platform that cross-chain bridge rewards are not applicable to US citizens. Currently, Arweave token holders have begun to receive AO and can also accumulate AO by bridging stETH.
▌Vitalik supports the use of the new image compression mode TiTok for on-chain image storage
Ethereum founder Vitalik Buterin introduced a new image compression mode called Token for Image Tokenizer (TiTok) on the decentralized social media platform Farcaster, and said that 320 bits is basically a hash value. Small enough for every user to be on the chain. It is reported that TiTok was developed by researchers from ByteDance and the Technical University of Munich and can compress images into 32 small data blocks (bits) without losing quality. According to the TiTok research paper, advanced artificial intelligence (AI) image compression enables TiTok to compress 256x256 pixel images into 32 discrete markers.
Cryptocurrency
▌Data: Since 2014, the total amount of funds raised in the crypto industry has reached $101 billion
Data collected by DeFiLlama shows that the total amount of funds raised in the crypto industry has reached $101 billion since 2014, while The Block Research has counted cumulative investments since 2017, exceeding $95 billion. Funds raised in the form of venture capital transactions and token sales have been the main driver of the growth of the crypto industry, but the billions of dollars invested in startups have brought mixed results for investors. Paul Veradittakit, managing partner of Pantera Capital, a cryptocurrency investment firm with assets of $4.7 billion, said that traditional exits in the form of milestone acquisitions and public listings "definitely take longer than traditional venture capital is expected." He added that Coinbase Global Inc.'s direct listing on Nasdaq during the last cryptocurrency bull run in 2021, which raised $86 billion, was a notable exception, but overall, exits have been rare and mainly limited to a small number of trading sales.
El Salvador sees Bitcoin as a tool to get rid of its dependence on fiat currencies such as the US dollar
On June 15, El Salvador's Bitcoin roadmap may include deeper integration of crypto assets as part of its economic future. El Salvador's Vice President Felix Ulloa recently said that Bitcoin could be a tool to liberate El Salvador from using fiat currencies, including the US dollar. In an interview with Russia Today (RT) during the St. Petersburg International Economic Forum (SPIEF), Ulloa emphasized the economic freedom opportunities that the adoption of Bitcoin brings to the country. When asked about El Salvador's possible de-dollarization and its relationship with Bitcoin, Ulloa emphasized that they had studied this case before, and returning to the Salvadoran colon (the country's legal currency) would place a heavy burden on the country. El Salvador adopted the US dollar in 2020, allowing the use of the US dollar in all commercial and financial transactions while seeking to improve its economic data. Ulloa said that El Salvador hopes to liberate its economy from the central bank and also hopes to get rid of its potential dependence on fiat currencies such as the US dollar, euro, and pound.
▌Circle Senior Policy Director: Euro stablecoins will continue to rise in the coming days
Patrick Hansen, senior policy director at stablecoin issuer Circle, is confident that euro stablecoins will continue to rise in the coming days. In an interview with X, Hansen pointed out that the number of transactions conducted using euro stablecoins is 1.1%.
Three independent groups file competing claims against SBF’s seized assets
Following his criminal conviction, former FTX CEO Sam Bankman-Fried was ordered to forfeit $11 billion in March for property related to his criminal conduct, including crypto tokens, private jets, funds in bank accounts, and more. Now, three separate groups — the FTX Debtors’ Estate, a class of creditors, and an offshore entity founded by Sam — have made competing claims to those seized assets, claiming they rightfully belong to them. The Debtors’ Estate claims in the filing that, although Bankman-Fried was ordered to forfeit the assets, they never belonged to him in the first place because they were the result of his criminal conduct. “As determined at trial, all of the specified property is held in the name of the Debtor Entities or FTX Digital and/or is funded entirely with Debtor Assets,” the filing states.
Important economic developments
▌Oxford Economics CEO: The Fed may start cutting interest rates in September
Adrian Cooper, CEO and chief economist of Oxford Economics, said: "Our expectation is that the Fed will start cutting interest rates in the second half of this year, perhaps in September. But much will depend on what happens to underlying inflation, especially relative to wage growth. The rapid rise in labor inflation expectations over the past few years has surprised the Fed and many central banks. This means that workers are not only seeking wage increases to make up for higher-than-expected inflation in the past, but also because they believe that inflation is likely to remain high. I think the Fed wants to see decisive evidence that the process of slowing inflation will continue, not only overall inflation but also core inflation will return to 2% before it is really ready to cut interest rates significantly."
Golden Encyclopedia
What are Validiums?
Validiums is a Layer 2 scaling solution designed to optimize Ethereum performance by processing transactions off-chain. Vailidiums are primarily responsible for reducing the load on the Ethereum blockchain by processing most transactions off-chain and only sending concise proofs to the mainnet for verification. The off-chain transaction processing method significantly increases throughput and reduces mainnet congestion, resulting in a more efficient and cost-effective Ethereum experience.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness.
