1. Vitalik: I am against the small block party and I finally believe in the idea that "soft fork is good, hard fork is bad". I personally support the "big block" party.
After reading two books about the Bitcoin block size dispute in the 2010s, "The Blocksize War" and "Hijacking Bitcoin", Vitalik published an article to put forward some of his own thoughts on the Bitcoin block size dispute. Vitalik said that when he personally experienced the Bitcoin block size dispute, he usually stood on the side of the big blockers, and his sympathy for the big blockers was mainly focused on the following key points: One of the key promises of Bitcoin at the beginning was digital cash, and high fees could kill this use case; I don't believe in the "meta-level" story of the small blockers. Small block supporters often argue that "Bitcoin should be controlled by users" and "users don't support large blocks", but are never willing to determine any specific way to define who is a "user" or measure what they want; The small blockers eventually believed in the idea of "soft forks are good, hard forks are bad" (which I strongly oppose) and designed a way to increase the block size to accommodate this rule, although Bier admitted that the complexity increased significantly, so much so that many big blockers could not understand the plan. I feel like the small blockers aren’t just “pro-caution”, they’re arbitrarily choosing different types of caution, choosing one (not hard forking) over another (keeping the code and specs clean and simple) because it suits their agenda. Eventually, the big blockers also abandoned “clean and simple” in favor of ideas like Bitcoin Unlimited’s adaptive blocksize increase, a decision that Bier (rightfully) lambasted. The small blockers do engage in very inappropriate social media censorship to impose their views, culminating in Theymos’ infamous statement “If 90% of /r/Bitcoin users find these policies intolerable, then I want 90% of /r/Bitcoin users to leave.”
2. EOS Network Foundation CEO: The proposal to cap EOS supply at 2.1 billion has been approved
According to The Block, the CEO of the EOS Network Foundation said that the proposal to limit the EOS supply to 2.1 billion tokens has been approved. The Foundation had proposed to establish a fixed supply and destroy 80% of the excess, a proposal that was agreed upon by block producers. The Foundation had previously proposed a multi-signature proposal to establish such a fixed supply and was approved by at least 15 of the 21 EOS block producers. EOS currently has a circulating supply of 1.15 billion, accounting for 54% of the planned total supply.
3. The number of cryptocurrency holders worldwide will reach 562 million in 2024, a year-on-year increase of 34%.
On May 31, Triple-A, a Singapore-based payment company, released the "Global Cryptocurrency Ownership Status in 2024" report, which showed that the global digital currency user base will reach 562 million people in 2024 (6.8% of the world's population), a 34% increase from 420 million in 2023. 34% of cryptocurrency holders are between 24 and 35 years old, the largest proportion among all age groups. The UAE, Singapore and Turkey are among the 30 economies with the highest cryptocurrency ownership rates. Asia maintains its lead in cryptocurrency holdings, increasing from 268.2 million to 326.8 million, followed by North America with 72.2 million.
4. Bloomberg ETF Analyst: US Spot Ethereum ETF May Be Launched at the End of June
Bloomberg ETF analyst Eric Balchunas said that a U.S. spot Ethereum ETF could launch in June after BlackRock and Grayscale updated their filings. Balchunas said it was "reasonable" that the spot Ethereum ETF would launch in late June. The likelihood of a launch in mid-June was "small." The latest expected listing date for the product would be July 4. Balchunas' expectations were influenced by the timing of issuers' S-1 statements. He commented on BlackRock's May 29 S-1 amendment, which he noted did not include fees and other important data - making it a near-final version. Grayscale also filed an S-3 amendment for its funds on May 30, updating the funds to explicitly prohibit staking. The two statements mark one of the last necessary steps before these funds begin trading.
5. US presidential candidate Kennedy supports cryptocurrency and bought 21 Bitcoins
At the Consensus 2024 conference in Austin, Texas, U.S. presidential candidate Robert F. Kennedy Jr. weighed in on Trump's guilty verdict and cryptocurrencies. Kennedy said he would focus on economic and health issues and would not get involved in Trump or Biden's legal disputes. Kennedy praised Trump's new pro-cryptocurrency stance, saying it would contribute to freedom and transparency. He hopes President Biden will take a similar stance. Kennedy noted that the key issues with U.S. cryptocurrency regulation are trading freedom and transparent currencies. He promised to protect consumers from fraud while ensuring that the United States remains at the forefront of blockchain technology. He revealed that he bought 21 bitcoins during the campaign and bought three coins for each of his children. Kennedy also expressed his vision of using cryptocurrencies as transaction currencies and advocated for no capital gains tax on them. His campaign goal is to enable people to freely use cryptocurrencies for everyday transactions.
6.CFTC Commissioner: FIT21 Act may take a long time to implement
CFTC Commissioner Summer Mersinger said at the 2024 Consensus conference that the implementation of the Financial Innovation and Technology Act of the 21st Century (FIT21) may require months or even years of coordination and involve multiple U.S. regulators. The bill, which has been passed by the House of Representatives and is facing challenges in the Senate, aims to clarify the regulatory responsibilities of the SEC and CFTC in digital assets. SEC Commissioner Hester Pierce pointed out that Congress' interest in cryptocurrency legislation stems from dissatisfaction with the SEC's regulatory approach. The Biden administration has expressed concerns about the regulatory gap that the bill may cause.
7. The 134th Ethereum ACDC meeting: Discussing experiences and unresolved issues after the release of Pectra Devnet 0
On May 31, according to Christine Kim's summary of the 134th Ethereum Consensus Core Developer Meeting (ACDC), this meeting mainly discussed the experience and unresolved issues after the release of Pectra Devnet0. In addition, the expansion of the Pectra upgrade scope to include peer DAS and SSZ container code changes was discussed. According to Pectra's release on Devnet0, the client team has agreed to keep the proof behavior affected by EIP7549 unchanged during the hard fork activation. Then, the developers discussed the outstanding issues of the finalization of validator deposits under EIP6110. Nimbus developer Etan Kissling suggested making some minor changes to the implementation of EIP7549. No one opposed this change. In this week's conference call, developers weighed the addition of EIP7688 and PeerDAS to Pectra. In addition, developers agreed to discuss the inclusion of EIP7688 in Pectra in the next ACDC conference call.
8. The US SEC requires spot Ethereum ETF issuers to submit the first round of S-1 draft forms before Friday
Sources said that the U.S. SEC requires spot Ethereum ETF issuers to submit the first round of draft S-1 forms by Friday. BlackRock and VanEck have submitted revised S-1 forms, and the remaining issuers are still to be submitted.
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