Compiled by: Luan Peng, ChainCatcher
Important Information:
OKX will delist TUP, THG, CONV, BLOK, BRWL and NYM spot trading pairs
Justin Sun: All revenue earned by SUN.IO will be used to repurchase and destroy SUN tokens
Data: Today’s trading volume of 6 Hong Kong virtual asset ETFs is about HK$10.13 million
Data: EtherFi, Renzo and AltLayer's $5 million airdrop tokens have been sold about a third
South Korean industrial technician embezzled $2.13 million in ETH and was sentenced to three years in prison
Data: About 40% of the 51 suspected Eigen Labs employee addresses chose to sell ETHFI, ALT and REZ
Exclusive: Hedge fund Bracebridge Capital significantly reduced its position in spot Bitcoin ETF in Q2, selling all IBIT and GBTC
10x Research: Bitcoin is expected to fall back to the $50,000 to $60,000 trading range
“What important events have occurred in the past 24 hours?”
OKX will delist TUP, THG, CONV, BLOK, BRWL and NYM spot trading pairs
OKX announced that it will remove TUP, THG, CONV, BLOK, BRWL and NYM spot trading pairs from 16:00 to 16:30 on August 23, 2024, and has suspended the top-up of related currencies. Withdrawals will be suspended at 16:00 on November 23. Users need to manage their assets in a timely manner, and uncancelled orders will be automatically revoked.
Justin Sun: All revenue earned by SUN.IO will be used to repurchase and destroy SUN tokens
Justin Sun said on X Platform that “all 100% of the protocol revenue earned by SUN.IO will be used to buy back SUN tokens in a decentralized manner, which will then be completely destroyed, returning value to the protocol.”
It is reported that SUN.IO is a Meme coin issuance and trading, equity mining and autonomous platform on TRON.
Data: Today’s trading volume of 6 Hong Kong virtual asset ETFs is about HK$10.13 million
Hong Kong stock market data shows that as of the close, the trading volume of today's 6 Hong Kong virtual asset ETFs was HK$10.13 million.
in:
The trading volume of ChinaAMC Bitcoin ETF (3042.HK) was HK$5.0368 million;
The trading volume of ChinaAMC Ethereum ETF (3046.HK) was HK$697,400;
The trading volume of Harvest Bitcoin ETF (3439.HK) was HK$1.6923 million;
The trading volume of Harvest Ethereum ETF (3179.HK) was HK$39,200;
The trading volume of Bosera HashKey Bitcoin ETF (3008.HK) was HK$2.3529 million;
The trading volume of Bosera HashKey Ethereum ETF (3009.HK) was HK$312,500.
Data: EtherFi, Renzo and AltLayer's $5 million airdrop tokens have been sold about a third
According to Lookonchain monitoring, EtherFi, Renzo, and AltLayer previously airdropped tokens worth approximately $5 million to EigenLabs employees.
EtherFi airdropped 10,491 ETHFI to each of 44 addresses, totaling 461,600 ETHFI (peak value $3.69 million), of which 31.2% of ETHFI has been sold.
AltLayer airdropped 46,512 ALT to 37 addresses each, totaling 1.72 million ALT (peak value $1.16 million), of which 32.4% of ALT has been sold.
Renzo airdropped 66,667 REZ to 27 addresses each, totaling 1.8 million REZ ($500,000 peak), of which 33.6% of REZ has been sold.
South Korean industrial technician was sentenced to three years in prison for embezzling $2.13 million in ETH
A South Korean industrial technician was sentenced to three years in prison for embezzling the company's virtual currency. According to reports, the man was sentenced to three years in prison in the second trial at the Daejeon High Court, which was reduced from the four-year sentence in the first trial.
The man was accused of illegally transferring about 2.9 billion won (about 2.13 million U.S. dollars) of Ethereum by falsely entering the payment address while working at a blockchain technology company, and using a virtual asset mixing website to hide the proceeds of the crime. The court decided to reduce his sentence in consideration of his voluntary confession and settlement with the company.
Data: About 40% of the 51 suspected Eigen Labs employee addresses chose to sell ETHFI, ALT and REZ
Wu Blockchain team analyst @defioasis posted on social media that through on-chain investigation, they found 51 suspected Eigen Labs employee addresses, which received a total of 487,900 ETHFI, 1,964,800 ALT and 1,335,000 REZ, with a peak value of more than US$5.5 million.
Among them, 41.3% of the addresses chose to sell ETHERFI; 41.5% sold ALT, 31.7% continued to stake ALT; and 40% sold REZ.
Earlier news, according to CoinDesk's investigation, employees of Eigen Labs, the developer of EigenLayer, accepted millions of dollars in payments from other projects that relied on its technology, raising questions about potential conflicts of interest. A team claimed that it gave a portion of the tokens to each Eigen Labs employee as a thank you. The final value of each employee's distribution share reached $80,000.
Exclusive: Hedge fund Bracebridge Capital significantly reduced its position in spot Bitcoin ETF in Q2, selling all IBIT and GBTC
According to the second quarter 13-F filing submitted by hedge fund Bracebridge Capital to the SEC, Bracebridge Capital significantly reduced its position in spot Bitcoin ETFs in the second quarter. It only held $112 million of Ark 21Shares in the second quarter.
It is reported that Bracebridge Capital held $300 million of Ark 21Shares' ARKB and $100 million of BlackRock's IBIT in the first quarter, as well as $26.52 million of Grayscale GBTC.
10x Research: Bitcoin is expected to fall back to the $50,000 to $60,000 trading range
10x Research released a report saying that Bitcoin is expected to fall back to the trading range of $50,000 to $60,000. The rebound after the crash on August 5 will stall near the resistance zone between $60,000 and $61,000. This slowdown may allow oversold technical indicators to reset, increasing the possibility that Bitcoin may retest the lows near $50,000 on August 5, a move that will catch many people off guard. There are still profit opportunities in the cryptocurrency market, but the timing is not ideal.
Wells Fargo: After the Fed cuts interest rates, the stock market will usher in a 30-year surge
Paul Christopher, head of global investment strategy at Wells Fargo, said that U.S. stocks are about to see a rally not seen in 30 years.
Paul Christopher believes that today's market is similar to 1995, when the stock market was booming and the S&P 500 index (SPX) hit 77 all-time highs. Investors may face a similar environment. This is because inflation is falling, the economy "is not collapsing", and the U.S. Commerce Department estimates that gross domestic product (GDP) grew 2.8% year-on-year in the second quarter.
Paul Christopher told CNBC on Thursday that the Fed is “in a good position if they can be proactive enough.”
Forbes reporter: Harris team absent from "Crypto4Harris" event, the industry still has doubts about its encryption stance
Forbes reporter Eleanor Terrett wrote that Harris herself and members of her campaign team were absent from the event. If the goal of the "Crypto4Harris" event on Wednesday night was to convince the skeptical digital asset industry that Harris's election as president was something they should support, then this event did little to no good.
Eleanor Terrett said: "I received over a hundred audience responses. Most respondents were neither satisfied with Harris' performance on the call nor convinced that she would cooperate with the so-called "crypto reset" that Democratic politicians and industry leaders have encouraged her to accept. This is mainly because Harris has not yet publicly stated her position on cryptocurrency."
Donald Trump Jr. Launches Telegram Channel 'The DeFiant Ones' for His Crypto Project
Donald Trump Jr. announced the opening of a Telegram channel “The DeFiant Ones” on X platform to introduce upcoming crypto projects.
"There are a lot of rumors about our crypto project. To know the real story and stay up to date with official announcements, join our official Telegram channel and get news directly here," he tweeted.
The name of the channel, “The Defiant Ones,” matches a recent trademark application. In July, a company called AMG Software Solutions filed trademark applications for “Be DeFiant,” “World Liberty,” and “World Liberty Financial.” According to its application, this third trademark is for “providing financial information in the decentralized finance (DeFi) space.”
"What are the interesting articles worth reading in the past 24 hours?"
ZK by the Numbers: L2 Spending on ZKP Exceeds $60 Million, and zkRollup Is Rising
This issue focuses on Zero-Knowledge Proofs, one of the most important yet least understood technological breakthroughs in our industry. In this issue, we explore zero-knowledge’s growth, adoption, network health, and competitive dynamics at both the application and infrastructure level.
The crypto market crashed by more than $200 million. What are the reasons behind the flash crash?
Last night, several days of calm price movements suddenly ended, with prices of cryptocurrencies such as Bitcoin and Ethereum suddenly falling, with Bitcoin falling to its lowest level since the market panic in early August, approaching $56,000. The decline triggered a new wave of crypto position liquidations (mainly long positions), and the market generally turned red.
According to Coinglass data, the liquidation amount in the past 24 hours (statistical time is 11:30 on August 16) reached 222 million US dollars, of which 175 million US dollars of long positions were liquidated and 161 million US dollars occurred in the past 12 hours. Bitcoin is the token with the highest liquidation amount, with a liquidation amount of more than 79 million US dollars in the past day, followed by Ethereum, with a liquidation amount of about 70 million US dollars.
The market has recovered, with Bitcoin trading at $58,000, Ethereum trading at $2,580, and SOL trading at $140.
Preventing LPs from losing money is the key to the survival and development of DEX
Regardless of the uncertainty in short-term market sentiment, recent activity on decentralized exchanges (DEXs) gives us reason to be optimistic about the long-term future of blockchain or on-chain ecosystems. Currently, DEX trading volumes have reached their highest levels since the birth of blockchain. According to The Block, as of August 2024, DEX spot trading volume accounts for about 14% of centralized exchanges (CEX), while according to DeFilama, the trading volume executed through DEXs in the past 24 hours was about $7 billion.
In the past, FTX events have increased custody risk for market participants, leading to an increase in DEX usage, and such short-term events often temporarily increase DEX usage. However, the increase in DEX usage we are currently seeing is a continuing trend. This steady rise in DEX usage compared to CEX can be seen as the result of DEX’s continuous improvements and significant progress in aspects such as usability.
The New York Times: Tether co-founder and his shattered crypto dream
On sunny days in 2022, cryptocurrency entrepreneur Brock Pierce enjoyed taking friends on a boat trip to Vieques, about 75 miles from his home in Puerto Rico. Pierce wanted to show off one of his “favorite” properties of his life: a once-glamorous beachfront resort that he’d bought for more than $15 million.
In its heyday, the resort was a W Hotel with a 6,000-square-foot spa, a restaurant run by a Michelin-starred chef and sweeping ocean views, and it was a mainstay of Vieques’ tourism industry. Then, in 2017, the hotel was hit by Hurricane Maria and forced to close. Pierce reopened it, using the wealth he made from cryptocurrency to revitalize the hotel and the local economy.
Will the stablecoin landscape change? Tether faces challenges of compliance and competition, and a new batch of gold diggers enter the market
Stablecoins are the liquidity cornerstone of the crypto ecosystem, so competition is unprecedentedly fierce. Under the fierce offensive of new and old players, Tether, the "big brother" on the list, began to accelerate the construction of diversified businesses, and the market structure has also quietly changed due to regulatory compliance trends.
