According to Coindesk, a district judge in the District of Columbia dismissed part of the U.S. Securities and Exchange Commission’s (SEC) lawsuit against cryptocurrency trading platform Binance and its founder Changpeng Zhao (CZ).

In an order issued late Friday, Judge Amy Berman Jackson ruled that the SEC’s charges against Binance include Initial Coin Offering, BNB Ongoing Sale, BNB Vault, Staking Services, Failure to Register and Fraud Charges can proceed. But at the same time, she also approved the motion filed by Binance and CZ to “dismiss the charges related to BNB secondary sales and Simple Earn.”

Former PayPal CEO and Founders Fund co-founder Peter Thiel said in an interview with CNBC reporter Andrew Ross Sorkin at the Aspen Ideas Festival this week that he still holds Bitcoin and admitted that he bought less. However, Peter Thiel is not too optimistic about the future price potential of Bitcoin. Peter Thiel said:

"I'm not sure it can rise significantly from current prices."

According to previous reports by Zombit, Peter Thiel’s venture capital company Founders Fund closed most of its eight-year cryptocurrency holdings before the cryptocurrency market crashed in 2022, earning a total investment income of approximately US$1.8 billion. Founders Fund first invested in Bitcoin in early 2014 and continued to increase its investment over the next eight years. Roughly two-thirds of the fund’s total investments are used to buy Bitcoin, people familiar with the matter said. By the end of March 2022, Founders Fund had sold out nearly its entire cryptocurrency-related portfolio.

To celebrate the glorious achievements of the fifth anniversary, senior users of Paiwang community held a unique and unforgettable honorary dinner at RAW, the most famous Michelin two-star restaurant in Taipei. The event was inspired by RAW's own wood-tone design, and the venue layout was presented in the form of annual rings, symbolizing the process of Paiwang's gradual growth and expansion starting from its original intention. Choosing to host the dinner at a restaurant known as the most difficult to book in Taiwan not only demonstrates its pursuit of quality and top-notch service capabilities, but also emphasizes its importance and gratitude to the community.

The theme of the dinner was "Five Good Lucks", which symbolizes "money". It not only echoes the theme of the "Fifth" anniversary, but also adds a fun and auspicious atmosphere. This dinner is not only a feast for the senses, but also an opportunity to express gratitude to all supporters.

Point72 Ventures, the venture capital firm of well-known hedge fund manager and MLB Mets owner Steve Cohen, is laying off five investors focused on financial technology and cryptocurrency, Forbes reported, citing people familiar with the matter. Focus on other areas. Two people familiar with the matter said that the company will shift more energy to investing in artificial intelligence and defense technology startups.

The departures include three fintech-focused investors and two from its digital assets team. Partners Tripp Shriner and Sugam Sarin are also likely to leave, people familiar with the matter said, but another person said they are likely to remain on the team to support existing portfolio companies.​

Kraken exchange founder donates $1 million

Kraken cryptocurrency exchange founder Jesse Powell announced in a post on X today that he has donated $1 million to the campaign of U.S. presidential candidate Donald Trump.

I just personally donated $1m (mostly #ETH) to @realDonaldTrump.For too long, the crypto industry has been under attack by Elizabeth Warren, Gary Gensler and others. Despite overwhelming bipartisan Congressional efforts to put clear rules in place, the Biden White House has… pic.twitter.com/Ksxf3P2oCb

Original text: "The Road to Value in Blockchain Investment"

Author: Ma Ma, founder of Continue Capital

What are you buying in the public chain market or blockchain industry? Or where is the way out for the blockchain business model?

The lack of expectations of the copycat market has caused many people to have doubts about the industry. In the complex environment of different development stages of the industry, it is inevitable that investment will be more difficult, but the fundamental problem is that you have to find a business model for the long-term sustainable development of the project.

Ten years later, I find that many people, even those who have been in the industry for a long time, still don’t quite understand why public chains have been dominating so many TOP100 lists, and why the top public chains have tens of billions and hundreds of billions of dollars, and they are flocking to them. But your coins are only worth millions and millions, and I like to simplify complicated things. I try to analyze them by peeling off the cocoons.

The first debate of the 2024 U.S. presidential election ended early on Friday (28th) Taiwan time. Current President Joe Biden and former President Donald Trump raised questions during the 90-minute debate. and issues such as the economy, abortion, immigration and foreign policy, but did not mention cryptocurrencies.

After the debate began, the prices of several memecoins featuring the two candidates plummeted. According to data from CoinGecko, the Trump-themed meme coin MAGA (token code TRUMP) on the Ethereum blockchain has fallen nearly 20% in the past four hours, while MAGA Hat (token code: MAGA) fell by about 18%, and the meme currency TREMP on the Solana chain fell by about 20%. Biden-themed meme coin Jeo Boden (ticker BODEN) has also experienced a significant drop in the past 4 hours, down as much as 37%.

While asset manager Vaneck's move to file a SOL ETF has many Solana supporters on high and even prompted a sharp rebound in SOL prices, industry insiders are divided on the SOL ETF's approval.

The founder of Wintermute urges: Don’t be unrealistic

Evgeny Gaevoy, founder of cryptocurrency market maker Wintermute, believes that the possibility of SOL ETF being approved this year is almost zero, and said that submitting the application is more for public relations purposes. And even if the SOL ETF is approved, inflows will be minimal.

My 2 cents:– there is near zero chance SOL ETF will get approved this year (wishful thinking that it will be somehow a priority for Trump admin is rather silly)– once you see how little inflows there will be into ETH ETFs (this year), it will be clear how even less flows SOL…

US-listed cryptocurrency mining company CleanSpark has reached an agreement to acquire Bitcoin mining company GRIID Infrastructure. Upon completion of the transaction, Cleanspark expects to add more than 400 MW of power in Tennessee, US, over the next two years.

CleanSpark will acquire all of GRIID's issued and outstanding shares for a total value of $155 million, and the parties have entered into an exclusive custody agreement for all currently available power, 20 MW of which will be immediately allocated to CleanSpark, according to a press release.

CleanSpark CEO Zach Bradford said the company's Tennessee operations are expected to exceed 100 MW by the end of this year, with a goal of reaching 400 MW of operating power by 2026. Bradford said in a press release:

MegaETH received capital injections from angel investors such as Vitalik and Cobie

According to The Block, blockchain development company MegaLabs recently announced that it has raised $20 million in seed funding. Kong Shuyao, co-founder and chief commercial officer of MegaLabs, said in an interview with The Block that this round of financing began in December last year and ended in May this year. The round, structured as equity plus tokens, brings MegaETH’s fully diluted token valuation to at least $100 million.

Venture capital firms that led this round of seed funding include: Dragonfly, Figment Capital, Robot Ventures, Big Brain Holdings and others also participated. In addition, Ethereum co-founder Vitalik Buterin, ConsenSys founder and CEO Joseph Lubin, EigenLayer founder and CEO Sreeram Kannan, ETHGlobal co-founder Kartik Talwar, Helius Labs co-founder and CEO Mert Mumtaz, Hasu Angel investors including Jordan Fish (also known as Cobie) also participated in this round of financing.

Predicting Solana ETF Approval

Cryptocurrency market maker GSR expressed optimism about Solana’s superior technology as well as changes in the U.S. political landscape and announced a long position on SOL in a report published on Thursday. The firm believes the Solana spot ETF could be the asset manager’s next crypto ETF push, following January’s Bitcoin spot ETF and an Ethereum spot ETF expected to launch this summer. (The report preceded asset manager VanEck’s Solana ETF filing.)

Analysts at GSR wrote in the report:

“Change has begun with Trump’s support for the cryptocurrency industry, which in turn has led Democrats to relax their stance on digital assets during the election year. Although the current legislative and regulatory environment is unlikely to support the launch of multiple spot Rules for digital asset ETFs, but the Trump administration and the liberal SEC commissioners may do so, and with the advancement of the bill to determine the structure of digital asset markets for securities and commodities, real possibilities will be opened.”

Fund manager VanEck has filed for a Solana ETF in the U.S. that would track the price of SOL. Matthew Sigel, head of digital asset research at VanEck, said on the X platform on Thursday (27th):

"I'm pleased to announce that VanEck has just filed for the first Solana exchange-traded fund (ETF) in the United States."

Source: Matthew Sigel

According to VanEck's S-1 registration statement, the "VanEck Solana Trust" (VanEck Solana Trust) plans to be listed on the Cboe BZX Exchange, a securities exchange of the Chicago Board Options Exchange (CBOE). The fund will hold Solana's native token SOL, " and its shares will be valued daily based on the reported MarketVectorTM Solana benchmark rate."

Cryptocurrency venture capital firm Paradigm has launched its first production-ready Ethereum execution client developed in Rust, called Reth 1.0. The client will focus on providing a stable Ethereum mainnet node and strive to achieve high throughput performance in terms of remote procedure calls (RPC), synchronization and storage capacity.

Georgios Konstantopoulos, Chief Technology Officer at Paradigm said:

“After nearly two years of development and a successful audit by Sigma Prime, we have finally released Reth 1.0, the first ‘production-ready’ version of our extremely fast Ethereum execution client, which we invite RPC providers and stakers to run Reth.”

According to Cryptoslate, the latest episode of the Bankless Podcast discusses the potential advantages of authoritarian regimes over liberal democracies in the 21st century. In this episode, hosts Ryan Sean Adams and David Hoffman dive into whether authoritarianism can outcompete liberal democracy, and how blockchain technology could play a role in that. The show also features economist Noah Smith and Ethereum co-founder Vitalik Buterin providing insights.

The effectiveness of authoritarian regimes is a threat to democratic freedoms

Noah Smith believes that although liberal democracy was hailed as the best social model at the end of the 20th century, liberal democracies are able to aggregate public messages through markets, elections, and public dialogue. However, with the development of the Internet, this advantage has been greatly reduced, and authoritarian states can now use Internet data to gauge public sentiment, allocate resources more effectively, and respond to unrest quickly, just as China's "blank slate" in 2022 as evidenced by the rapid policy shifts that followed the movement.

According to data from on-chain intelligence platform Arkham Intelligence, a cryptocurrency wallet labeled as controlled by the US government transferred approximately 3,940 Bitcoins (valued at $241 million) to the Coinbase exchange on Wednesday (26th). The wallet still currently holds approximately $13.3 billion worth of Bitcoin.

Source: Arkham

According to Arkham, the 3,940 Bitcoins were originally seized from a drug dealer named Banmeet Singh. The U.S. Department of Justice stated in a press release issued in April this year that Singh was sentenced to 5 years in prison for selling controlled substances on multiple darknet markets, including Silk Road, Alpha Bay, and Hansa. Ordered the forfeiture of approximately $150 million in proceeds of crime.

Binance announces increased account monitoring

Binance exchange issued an announcement today stating that some account functions have been abused, and this behavior has obtained unfair advantages, such as enjoying more favorable rates or higher API limits than other users.

Binance stated that any behavior involving unauthorized access to other user accounts is a serious violation of Binance’s terms of use and KYC/KYB policies. Such behavior not only undermines users’ trust in the fairness and efficiency of the Binance platform, but also negatively affects the experience of the vast majority of rule-abiding users and weakens their contribution to the platform.

Marathon Digital, a U.S.-listed Bitcoin (BTC) mining company, announced on Wednesday (26th) that it is mining KAS, the native token of Layer 1 protocol Kaspa, to diversify its mining revenue.

Marathon said in a statement that Kaspa uses Proof of Work as its consensus mechanism, but unlike Bitcoin’s blockchain, Kaspa uses BlockDAG, which allows multiple blocks to be produced at the same time. The Kaspa network currently processes one block per second, speeding up transactions and providing miners with the opportunity to potentially earn more block rewards within a given period of time.

Blast airdrop fell short of expectations

Ethereum’s second-layer network Blast finally issued a token airdrop yesterday. However, many large investors have criticized on social platforms that the funds they invested in the network are out of proportion to the token airdrops, making it another project that has been spurned due to airdrops after Zksync. NDV co-founder Christian stated on the social platform that he deposited assets worth US$50 million on the Blast network, but only received US$100,000 in token airdrops during TGE.

So I deposited over $50M on @Blast_L2 and get $100k airdrop on TGE. Now I am pretty sure @Blast_L2 is a scam project and @PacmanBlur is a “serial rug entrepreneur”. Never blocked anyone in CT before, he made it. I felt so shame to trust him before.This will be my last tweet… pic.twitter.com/G4f3x2gdUC

Citing people familiar with the matter, Reuters reported that coordination between Ethereum ETF issuers and regulators has entered the final stages, and the U.S. Securities and Exchange Commission (SEC) may approve an Ethereum spot ETF as soon as July 4.

Currently, eight asset management companies including BlackRock, VanEck, Franklin Templeton and others have submitted applications for Ethereum spot ETFs and are seeking approval from the SEC. According to people familiar with the matter, the process of revising the issuance documents has progressed to the point where only a few "minor" issues need to be resolved. Another lawyer working with one of the publishers also said that it is "in the final stages" and approval may not take more than a week or two.

Market Analysis – BTC’s market share has dropped significantly, and AltCoin has a bargain-hunting opportunity

BTC has continued to trend lower in the past week. It even fell below the $60,000 mark on June 25 this week, reaching a low of $58,400. The main reason is that the Mt. Gox bankruptcy estate trustee announced that it will start returning BTC and BCH to creditors in July. Causing market panic and selling pressure, of course, the biggest impact is still on BTC.

The two major currencies BTC and ETH have been on a downward trend for about a month, while altcoins have been falling for more than several months. They entered the bear market early, with a drop of more than 50%. However, since BTC fell sharply yesterday morning, AltCoin has not fallen. Judging from the strength of the rebound, AltCoin seems to have completed the washout a while ago or the market believes that the decline has been too large, and it has strengthened significantly in the past two days. In the past week, BTC and ETH fell by 4.74% and 0.91% respectively, while the total market value of the cryptocurrency market excluding BTC and ETH increased by 2.55% during the same period, and BTC's market share rarely dropped by 1.8% in one day on June 24. % The phenomenon.