Blockchain & cryptocurrency market summary news – May 28
The UK jailed a woman involved in a massive Bitcoin money laundering case
A British-Chinese woman has been sentenced to 6 years and 8 months in prison for money laundering related to a $6.37 billion cryptocurrency investment scam in China. Jian Wen, 42 years old, helped hide the origin of the money by converting it into Bitcoin and fleeing China. She was arrested in 2021, while the ringleader of the scam, Zhang Yadi, was also just charged. This investigation resulted in one of the world's largest asset seizures when British police seized more than 61,000 Bitcoins, worth more than £3 billion. This case shows the growing trend of criminals using cryptocurrencies to launder money, a major challenge for law enforcement agencies.
Solana approved the proposal to share all priority transaction fees with Validator
On May 27, 2024, Solana passed proposal SIMD-0096 to divide the entire priority transaction fee (Priority Fee) to Validators. This is to create motivation for more units to operate Validator, helping to reduce the risk of 51% attacks. Following the issue of spam trading bots, Solana is also testing client version 1.18 to improve its ability to receive and process requests from users.
Uniswap holds 41 million USD in cash but is only enough to last until the end of 2025
Uniswap Foundation, which manages the Uniswap DEX, announced its Q1/2024 financial report. They hold $41.41 million in cash and stablecoins, and 730,000 UNI tokens. During the quarter, they spent $1 million on salaries, professional fees and operating expenses. They also committed $4.34 million in new funding, of which $2.79 million has already been disbursed. In 2024-2025, it is expected to spend $25.77 million, including $2.94 million on previous commitments and $12.7 million on operating expenses. The publication of the report is causing debate in the community about the plan to use this capital source.
Aptos surpasses Solana, becoming Layer-1 with the most transactions in a day
On May 25, 2024, Layer-1 Aptos surpassed Solana and became the blockchain with the most transactions in a day, with 115.4 million transactions, compared to Solana's 31.7 million transactions. This is also a new record for the number of transactions on a Layer-1 in a day, surpassing Sui's previous record of more than 67.7 million transactions. In addition, Aptos also set a record for transactions per second (TPS), up to more than 32,000 transactions. The trading boom on Aptos is attributed to the launch of the game Tapos Cat, a 72-hour campaign. This game has attracted more than 325 million transactions and 63.2 thousand participating accounts within 3 days after launch.
