Today's news tips:

Worldcoin hires former Google, X, and Apple execs to bolster privacy and security

Blast announces details of second phase reward plan, allocating 10 billion BLAST

Web3 Foundation CEO: The Foundation has more than 5 years of operating funds, and the Polkadot on-chain treasury will continue to receive funds

Astar Network will destroy 350 million ASTR, accounting for 5% of the total supply

Jupiter announces Q3 roadmap: Approximately $60 million worth of active staking rewards will be distributed this week

Open source AI platform Sentient completes $85 million seed round of financing

Blockchain annual network fee revenue ranking: Ethereum ranks first with $2.728 billion

In the first half of this year, there were more than 200 major hacking incidents in the encryption field, with losses of about US$1.56 billion

Regulatory News

Trump raised $331 million in the second quarter, surpassing Biden

Donald Trump raised $331 million in the second quarter, giving him more cash on hand than incumbent President Joe Biden, according to the financial community, a development that could heighten anxiety among Democrats about the incumbent's reelection campaign. The amount raised by Trump and the Republican National Committee surpassed the $264 million raised by Biden and the Democratic National Committee in the second quarter. The Trump campaign said it now has nearly $285 million in cash on hand, compared to the $240 million reported by Biden, a stunning reversal after Biden's fundraising numbers crushed his opponent for months.

Fed Chairman Powell: Inflation may return to 2% by the end of next year or the year after

According to Jinshi Data, Fed Chairman Powell said that inflation may return to 2% by the end of next year or the year after. He pointed out that the Fed's policy is still restrictive and appropriate. Powell also mentioned that some service industry inflation is catch-up inflation, the labor market is cooling, and wage growth is still above the final equilibrium level, but is falling back to a more sustainable level. It is usually more difficult to reduce inflation in the service industry. Powell emphasized that the balance of the labor market is moving in a better direction.

Project News

Worldcoin hires former Google, X, and Apple execs to bolster privacy and security

According to CoinDesk, Worldcoin developer Tools for Humanity has hired four former executives to strengthen privacy, security and identity management. Former X (Twitter) executive Damien Kieran was appointed Chief Privacy Officer, former Google executives Adrian Ludwig and Ajay Patel served as Chief Information Security Officer and World ID Head, respectively, and former Apple executive Rich Heley served as Chief Device Officer, responsible for managing Worldcoin's retinal scanning device.

Blast announces details of second phase reward plan, allocating 10 billion BLAST

Blast officially announced the details of the second phase of the reward plan. 50% of the second phase rewards (5 billion BLAST) are allocated to Blast points holders. Users can earn Blast points based on their ETH, WETH, USDB and BLAST (pending BLIP-2 Progress Committee vote) balances. EOA and smart contracts earn points at a rate of 0.06504987 points/block/ETH (each block is 2 seconds). USDB and BLAST earn points at the same rate as ETH based on their price denominated in ETH. For example, if ETH is $3,500, USDB will earn points at a rate of 0.06504987 points/block/3,500 USDB.

50% of the Phase 2 rewards (5 billion BLAST) are distributed to Blast Gold holders. There will be a Gold distribution in the first week of each month (this month will be distributed on July 8th), with separate distributions for new and existing Dapps, who can earn Gold based on their traction on the Blast mainnet and future Big Bang competitions.

Web3 Foundation CEO: The Foundation has more than 5 years of operating funds, and the Polkadot on-chain treasury will continue to receive funds

In response to the "Polkadot First Half Financial Report", Fabian Gompf, CEO of Web3 Foundation, a Polkadot development organization, said on the X platform: "This is not an expenditure of the Web3 Foundation, but an on-chain treasury expenditure, which is determined by community voting. Even if the foundation does not sell any DOTs, it has more than 5 years of operating funds. The whole concept of "treasury operating funds" is misleading. The treasury has a continuous inflow of funds and will never run out of funds. I think the treasury should use its funds for more forward-looking initiatives not covered by the foundation. Even some of the unspent on-chain treasury funds will be automatically destroyed. In the past few months, the on-chain treasury has spent too much money on activities that may have lower returns. Polkadot community, if you want change, now is the time to vote." Related reading: Polkadot's first-half financial report caused controversy: nearly half of the $87 million in expenditures were promotion fees, and revenue was only $1.1 million

Bittensor: Investigating multiple attacks on Bittensor wallets

The AI ​​project Bittensor officially announced in the Discord community at 8:39 this morning: The Optentensor Foundation is investigating multiple suspected attacks on Bittensor wallets in the past three hours. Out of caution, the foundation has put the chain in safe mode (stopped) for at least 24 hours.

Later in the day, ZachXBT, an on-chain detective, detected that 32,000 TAO (worth $8 million) were stolen from the address starting with 5FbWTr. In addition, ZachXBT said that the attack on Bittensor was caused by the theft of private keys.

Astar Network will destroy 350 million ASTR, accounting for 5% of the total supply

According to CoinDesk, the multi-chain smart contract network Astar Network will destroy 350 million ASTR, accounting for 5% of its total supply. These tokens were originally allocated for the Polkadot parachain auction, but the product has been discontinued. The 70 million ASTR rewards generated by the destruction of 350 million ASTR tokens will be transferred to the community treasury. ASTR has risen more than 7% in the past 24 hours. Astar Network also reached an agreement with Polygon in March to integrate its AggLayer product, which aims to connect various blockchains using zero-knowledge proofs and provide unified liquidity.

Layer 1 blockchain platform Chromia expects to launch its mainnet in mid-July

According to The Block, Layer 1 blockchain platform Chromia is expected to launch its mainnet in mid-July. Chromia simplifies the building of Web3 applications through the SQL-like programming language Rell. ChromaWay plans to release the minimum viable product version of its mainnet on July 16 to establish the core functions of the network. Chromia will bridge its native token CHR to facilitate core functions such as staking delegation and network hosting fee payment.

Standard Chartered Bank: August 4 is a key date for Biden to make a decision. If he withdraws from the campaign, it may push Bitcoin to a new high

As the US election approaches Election Day in November, Standard Chartered Bank has made a prediction on the price of Bitcoin, according to Bitcoin.com. Geoffrey Kendrick, head of the bank's foreign exchange and digital asset research department, said on Tuesday that Bitcoin is likely to hit a record high in August and then reach $100,000 on US election day. The analyst's prediction depends on whether the current President Biden continues to run, which the market believes will increase Trump's chances of re-election. This result is seen as favorable for Bitcoin because Trump's victory may bring policies that are more favorable to the cryptocurrency market. The analyst believes that Trump's victory may create a regulatory environment that is conducive to the growth of digital assets.

The Standard Chartered analyst also shared predictions for other election scenarios. He explained that the least likely scenario is that Biden withdraws from the race in late July, which could cause the price of Bitcoin to fall to between $50,000 and $55,000. Kendrick emphasized that August 4 is a key date for Biden to make a decision. "This is the registration date for presidential candidates required by Ohio law. Therefore, if Biden is still the Democratic candidate on August 4, he will also be the same in the first week of November," he pointed out. In addition, the analyst also said that if Biden's Democratic replacement is highly credible, "Bitcoin prices will remain weak." Standard Chartered maintained its target of $150,000 for Bitcoin by the end of the year and predicted that it will reach $200,000 in 2025.

Jupiter announces Q3 roadmap: Approximately $60 million worth of active staking rewards will be distributed this week

As reported by The Defiant, Jupiter Exchange, a trading aggregator based on Solana, has announced its third-quarter roadmap, which includes important developments for the next two months. Highlights include three key votes, two token releases, and one reward distribution. In mid-July, Jupiter Exchange will release CLOUD tokens on its LFG Launchpad. In addition, the platform will distribute active staking rewards (ASR) worth approximately $60 million this week. The reward pool includes 50 million JUP, 7.5 billion WEN, 7.5 million ZEUS, 7.5 million UPT, and 750,000 SHARK tokens. This initiative is part of Jupiter's J4J principle and aims to reward participants who have contributed to the JUP decentralized autonomous organization (DAO) over the past three months.

Deutsche Digital Assets’ Bitcoin Macro ETP Now Listed on Xetra

Deutsche Digital Assets (DDA), the crypto asset platform of Deutsche Börse, announced that its DDA Bitcoin Macro ETP has been listed and will be traded on the German stock exchange Xetra on July 3, 2024. The ETP tracks the Compass FT DDA Bitcoin Macro Allocation Index and provides investors with a Bitcoin ETP that dynamically adjusts Bitcoin exposure based on macroeconomic factors. The ETP is managed through Coinbase Custody International Ltd. and aims to optimize Bitcoin exposure and improve long-term risk management, with a total expense ratio of 2.00%.

StarkWare CEO: There are still 400 million STRK tokens to be distributed in the future

StarkWare co-founder and CEO Eli Ben Sasson shared his personal views on the Starknet Provisions airdrop plan in a blog post. He said that the Starknet Foundation announced the first round of Provisions, allocating up to 700 million STRK tokens, and the claim period ended on June 20, with a total of 500 million claimed. Eli emphasized that although there may be inaccuracies in the allocation method, it is still committed to allocating tokens to those who truly care about and support Starknet's long-term vision. There are still 400 million STRK tokens to be allocated in the future, and I hope to hear more ideas about the token allocation mechanism from people inside and outside the ecosystem.

Financing News

Open source AI platform Sentient completes $85 million seed round of financing

According to The Block, the open source AI platform Sentient has raised $85 million in a seed round of financing co-led by Peter Thiel's Founders Fund, Pantera Capital and Framework Ventures. One of Sentient's core contributors is Polygon co-founder Sandeep Nailwal, and EigenLayer founder and CEO Sreeram Kannan has served as an advisor throughout. Other investors include Ethereal Ventures, Robot Ventures, Symbolic Capital, Delphi Ventures, Hack VC, Arrington Capital, HashKey Capital, Canonical Crypto and Foresight Ventures. Sentient is committed to building open source AI models through community contributions to compete with OpenAI. Sentient will allow users to access and contribute models and provide rewards based on contributions. Sentient plans to launch a testnet in the third quarter of this year and will use the new funds to continue building its platform. Nailwal said Sentient will be built on Polygon and may create its own chain through the Polygon Chain Development Kit (CDK).

Startup Lombard raises $16 million in funding led by Polychain Capital

According to CoinDesk, startup Lombard has raised $16 million in funding and plans to work with Bitcoin pledge protocol Babylon to launch a Bitcoin-based re-pledge function. Lombard's goal is to upgrade Bitcoin from a store of value to a productive asset, flowing into the Web3 economy and driving sustainable growth. Lombard's financing round was led by Polychain Capital, with participants including BabylonChain, Inc., dao5, Franklin Templeton, Foresight Ventures, Mirana Ventures, Mantle EcoFund and Nomad Capital. Lombard will launch the "Liquid Bitcoin" token (LBTC) based on Babylon's cross-network security technology, a tradable deposit certificate that allows users to maintain liquidity while staking Bitcoin to secure other networks. Lombard said that by introducing LBTC in conjunction with major ecosystems and DeFi protocols, more than $1.3 trillion of Bitcoin can be used for lending and trading, providing new capital opportunities and users for Bitcoin holders as well as the ecosystem and its protocols.

Distributed GPU network Prodia completes $15 million financing, led by Dragonfly Capital

According to CoinDesk, the distributed GPU network Prodia has raised $15 million for its AI inference solution, led by Dragonfly Capital. Other investors in the financing include HashKey, Web3.com, Index Ventures, Symbolic Capital, OKX Ventures, and angel investors Balaji Srinivasan, Polygon founder Sandeep Nailwal, and Bloq co-founder Matthew Roszak. Prodia uses Web3 infrastructure to provide low-latency and cost-effective AI media inference solutions.

Blockchain oracle project RedStone completes $15 million Series A financing, led by Arrington Capital

According to CoinDesk, the blockchain oracle project RedStone announced that it has raised $15 million in Series A funding, led by Arrington Capital. The financing will be used to recruit new team members. Also participating in this round of financing are SevenX, IOSG Ventures, Spartan Capital, White Star Capital, Kraken Ventures, Amber Group, Protagonist, gumi Cryptos, Christian Angermayer's Samara Asset Group and HTX Ventures. RedStone is introducing its oracle to the emerging re-staking field of Ethereum. RedStone signed an agreement with Ether.fi, the largest re-staking service on EigenLayer, in April this year to obtain $500 million in funds to help introduce its data oracle into the ecosystem. RedStone provides oracle data feed services covering multiple blockchain networks such as Ethereum, zkSync Era, Avalanche, Base, Polygon, Linea, Celo, Optimism, Arbitrum, Fantom, BNB Chain and Blast.

Important data

Arkham: The value of Sun Yuchen's public wallet assets has dropped from $1.4 billion in February to $1 billion

Arkham said on the X platform that its research team analyzed Sun Yuchen’s on-chain assets in Ethereum and Tron in February this year, as well as the assets in his wallet marked on Arkham. At that time, the assets in Sun Yuchen’s public wallet were worth about US$1.4 billion, and now they are worth about US$1 billion.

More than half of the top 25 U.S. hedge funds have exposure to Bitcoin ETFs

Data from investment firm River shows that as of the end of the first quarter of 2024, 13 of the 25 largest hedge funds in the United States have exposure to Bitcoin ETFs. Among them, Millennium Management holds 27,263 bitcoins worth $1.69 billion, accounting for about 2.5% of its total assets under management (valued at $67.7 billion). Other hedge funds with large Bitcoin holdings include Schonfeld Strategic Advisors (holding 6,734 bitcoins) and Point72 Asset Management (holding 1,089 bitcoins). On the other hand, some top hedge funds, such as Bridgewater Associates, AQR Capital Management, and Balyasny Asset Management, have not yet invested in Bitcoin ETFs.

Blockchain annual network fee revenue ranking: Ethereum ranks first with $2.728 billion

According to Lookonchain statistics, the blockchains with the highest annual network fee revenue are: Ethereum (US$2.728 billion), Bitcoin (US$1.302 billion), Tron (US$459.39 million), Solana (US$241.29 million), BSC (US$176.56 million), Avalanche (US$68.83 million), zkSync Era (US$59.77 million), Optimism (US$40.40 million), and Polygon (US$23.91 million).

In the first half of this year, there were more than 200 major hacking incidents in the encryption field, with losses of about US$1.56 billion

According to PeckShield data, more than 200 major hacking incidents occurred in the crypto space in the first half of 2024, resulting in losses of approximately $1.56 billion, of which $319 million was recovered. Losses increased by 293% compared to the same period in 2023 (when losses were $480 million). DeFi protocols remain the main target, accounting for 59% of the total value stolen. In the first half of 2024, more than 20 public chains suffered major hacker attacks, with Ethereum, Bitcoin, and XRP ranking the top three cryptocurrencies by loss amount. Ethereum and BNB chains tied for first place in the number of attacks, each accounting for 31.3% of the total, followed by Arbitrum at 12.5%.

Bitcoin falls to around $60,000, Ethereum falls to around $3,300

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