Massachusetts securities regulator is investigating Keith Gill's GameStop trading activities
Massachusetts securities regulators are investigating trading activities in GameStop (GME.N) and that of prominent investor Keith Gill, better known as "Roaring Kitty," according to Reuters. A spokesman for Bill Galvin, head of the state's top securities regulator, confirmed that Gill's activities were being investigated but declined to comment further. Earlier, Gill posted on Reddit showing that he had bet $116 million on GameStop, causing GameStop's stock price to surge on Monday. The stock price subsequently fell by about 5%. The post also suggested that Gill may have made tens of millions of dollars in paper profits on GameStop options. Reuters was unable to independently verify the authenticity of the post and the position, and was unable to immediately contact Gill for comment. Regulatory investigations generally do not indicate violations and do not lead to enforcement actions. Galvin investigated Gill's 2021 activities, but closed the case after reaching a settlement with Gill's former employer MassMutual for improper supervision. Screenshots of GameStop transactions on Reddit once triggered a "cyber stock" craze, but after an investigation, the U.S. Securities and Exchange Commission (SEC) believed that the market system was operating well and found no evidence that short sellers were driving the craze.
U.S. House Appropriations Bill Targets SEC's Controversial SAB 121 in Budget Negotiations
According to Cryptoslate, the upcoming House appropriations budget may prevent the U.S. SEC from implementing its controversial Staff Accounting Bulletin 121 (SAB 121). FOX Business reporter Eleanor Terrett said the bill would prohibit the SEC from using appropriations to implement the rule. Appropriations allow institutions to incur debt and pay money from the U.S. Treasury for established purposes. A policy rider in the budget stipulates that the U.S. SEC is prohibited from implementing or enforcing Accounting Bulletin No. 121, which implements harmful digital asset requirements. It is unclear whether the budget bill can be passed in its current form. The House of Representatives, which is currently dominated by Republicans, is likely to pass the appropriations bill at a hearing on June 5. However, the Senate, which is dominated by Democrats and independents, will need to negotiate its own appropriations bill with the House bill. Terrett said that the Democrats supported an earlier resolution with the same goal, H.J. Res. 109, which means that the Senate may keep the rider in the budget. The bill aims to provide the SEC with a total of $2 billion in funding by 2025, instead of the $2.59 billion requested by SEC Chairman Gary Gensler.
SEC to close office after losing Debt Box crypto lawsuit
According to CoinDesk, the Salt Lake City office of the U.S. Securities and Exchange Commission (SEC), which has been controversial for its failed fraud lawsuit against DEBT Box in the cryptocurrency world, will be closed due to a "mass loss" of employees. It is reported that some employees were fired for this case. Previously, SEC lawyers Michael Welsh and Joseph Watkins were sanctioned by a federal judge for "abuse of power" for attempting to freeze the assets of Utah cryptocurrency company DEBT Box for misleading reasons. The two resigned in April. Last week, the judge dismissed the case and ruled that the SEC must pay DEBT Box $1.8 million in legal fees. The SEC said the closure was based on budget and organizational efficiency considerations and that other regional offices would not be closed. In the future, law enforcement jurisdiction will be transferred to the SEC's Denver office.
FTX settles $24 billion tax claim with IRS
According to Bloomberg, FTX has reached a settlement with the U.S. Internal Revenue Service (IRS) to resolve its $24 billion tax claim. Under the settlement, the IRS will receive a priority claim of $200 million and a secondary claim of $685 million. FTX said it will pay $200 million to the IRS within 60 days of its bankruptcy reorganization plan taking effect, and another $685 million after customers and other creditors are paid. FTX also said it will repay customers' funds in full.
Sotheby’s will auction multiple NFT collections from Three Arrows Capital on June 18
According to Decrypt, several NFTs once owned by the bankrupt hedge fund Three Arrows Capital will be auctioned at Sotheby's on June 18, including 1 golden gorilla BAYC, 2 MAYC and 1 BAKC. Three Arrows Capital has invested a lot of money in NFTs. In February last year, the liquidator of Three Arrows Capital stated in a court document that it planned to sell a large number of NFTs valued at millions of dollars to make up for some of the losses.
DMM Bitcoin is raising about $354 million to cover the theft and plans to buy bitcoins worth the amount stolen
DMM Bitcoin, a crypto exchange under the Japanese DMM.com Group, announced that it has released information on securing financial foundation and purchasing Bitcoin in response to the theft on May 31. The plan to secure the financial foundation will be implemented according to the following schedule: 1. On June 3, debt financing of 5 billion yen (already implemented); 2. On June 7, capital increase financing of 48 billion yen; 3. On June 10, subordinated debt financing of 2 billion yen. The three types of financing raised a total of 55 billion yen (about 354 million US dollars). Regarding Bitcoin procurement, it will continue to purchase Bitcoins equivalent to the stolen amount, while being careful not to affect the market. DMM Bitcoin said that it is continuing its investigation to determine the cause of the unauthorized leak. Once the details are known, a report will be released. Earlier on May 31, it was reported that DMMBitcoin's wallet was stolen from Bitcoin worth about 300 million US dollars, and the platform has taken restrictive measures on some services.
LayerZero said it hopes to have more time to conduct witch checks, but time is limited and it will proceed as planned.
LayerZero co-founder and CEO Bryan Pellegrino said on the X platform: "I hope to have another two months to deal with the inspection of the witch reports. There are some very obvious large witch clusters, including tens of thousands of addresses, but due to time reasons, I have to give up checking them because they are extremely unlikely to meet the final airdrop qualifications of LayerZero, but I am sure they may get other airdrops." Pellegrino added that it should be noted that this is just my personal venting because I don’t have that much time. LayerZero’s TGE timeline remains unchanged.
SlowMist released a ranking of reasons for loss of encrypted assets, saying that 99% of people cannot keep their assets well
23pds, Chief Information Security Officer of SlowMist Technology, posted on the X platform: "The ranking of reasons for loss of personal/institutional assets: 1. Leakage of mnemonics and private keys, accounting for 32%; 2. Improper use of wallets, signature phishing, accounting for 18%; 3. Downloading fake wallets and fake trading software, accounting for 16%; 4. Phishing with first and last numbers and Trojan software, accounting for 13%; 5. Attacks by professional hacker gangs, accounting for 6%; 6. Fake chat software, tampering in the middle, accounting for 8%; 7. Targeted attacks and phishing on the storage trading platform, accounting for 4%; 8. Transfer, operational errors, Ponzi schemes, contract loopholes, etc., accounting for 3%; Do you think it is safer to store your assets? It's a joke. 99% of people can't keep their own assets well, so don't expect you to be that 1%."
Ripple CEO: The launch of XRP spot ETF is inevitable and may be listed in 2025
Ripple Labs CEO Brad Garlinghouse discussed the future prospects of the XRP spot ETF in an interview with Fox Business Channel on Tuesday. He said that the approval of the Ethereum spot ETF opens the door for the launch of other crypto asset ETFs such as XRP in the future. The U.S. Securities and Exchange Commission (SEC) will lose in the battle with cryptocurrencies. People don't want to invest in just one commodity, and more commodities should be added to the market to give investors more trading options. The launch of the XRP ETF is inevitable, and the XRP spot ETF may be listed in 2025. Garlinghouse previously said that after Bitcoin and Ethereum, XRP, SOL and ADA may be the next crypto spot ETFs to be approved.
Renzo Lianchuang: Renzo's X account has been hacked, please do not click on any links
Lucas Kozinski, co-founder of Renzo, a liquidity re-staking protocol, issued a reminder on the X platform that Renzo's Twitter (X) account has been hacked. Please do not click on any links. The team is communicating with the X platform to deal with it.
Binance: Currently, big data alarms and manual double confirmation are added to deal with sudden price fluctuations
@CryptoNakamao, a user of the X platform who previously accused himself of being a "victim of an undercover agent in the cryptocurrency circle," issued a correction, saying that Binance was indeed unaware of the plug-in in advance and that the KOL was not an undercover agent of Binance. In response, Binance said: "We regret your experience again and thank you for helping to clarify the misunderstanding of us in the previous tweet. As a platform, we are well aware of our users' expectations of us - not just to store their coins in Binance, but also to help intercept malicious transactions when they encounter emergencies due to their own reasons. For your case, our security and risk control team conducted a careful analysis and review. For abnormal cross-trading, the platform has always had similar prevention and control measures, but the platform's risk control should indeed continue to be improved and optimized to successfully capture such situations in a timely manner in the future. Previously, we have set up a reward mechanism through our "bug bounty program" to encourage community members to report potential vulnerabilities and increase awareness of potential vulnerabilities. The awareness of threats helps us to find problems earlier. Your experience reminds us and helps us see better optimization and upgrade space, so we will apply for a reward for you as a reward, and also help you get through the difficulties as soon as possible after losing your property. Binance's risk control and security teams will continue to investigate such incidents. At present, they have superimposed big data alarms and manual double confirmations on sudden price fluctuations, and will also add reminders to users; in terms of plug-in operation and Cookies authorization, they will consider whether to increase the verification frequency. Binance will add security verification links according to specific circumstances and user differences. We also take this opportunity to remind all users to always be vigilant, use a clean web browser, do not install any third-party plug-ins, and log out after use. "
Bain Capital Crypto plans to launch second crypto fund
According to a filing with the U.S. Securities and Exchange Commission (SEC), Bain Capital Crypto is planning to launch its second crypto fund, CoinDesk reported. Bain Capital launched its first crypto fund in March 2022. The fund focuses on early investments and liquid tokens in the fields of decentralized finance (DeFi) and Web3, and has invested nearly $100 million in multiple projects. Bain Capital has been an active investor in the crypto space over the past two years, participating in Sam Altman's $115 million Worldcoin financing as well as financing for companies such as privacy protocol Nocturne Labs and DEX aggregator Flood.
IOTA's EVM mainnet is now online, introducing smart contracts, cross-chain and other functions
According to the IOTA announcement, the IOTA EVM mainnet is online, which is a Layer 2 solution for the IOTA network that is fully compatible with the Ethereum Virtual Machine (EVM). Since its first release on Shimmer in September 2023, IOTA EVM has undergone a lot of improvements, testing and audits. This version introduces features such as smart contracts, cross-chain capabilities, parallel processing, and enhanced miner extractable value (MEV) security. Users can connect through MetaMask and explore the network with the Firefly wallet. IOTA EVM will focus on the RWA direction, and its partners include LayerZero, Stargate Finance, Pyth Network and Supra.
Worldcoin suspends Spanish operations amid data protection investigation
According to Cointelegraph, Worldcoin has agreed to suspend all activities in Spain until the end of the year or until the German Data Protection Agency (BayLDA) completes its investigation. Previously, the Spanish Data Protection Agency (AEPD) ordered Worldcoin to suspend data collection and processing in Spain in March. This legal constraint does not affect the authority of AEPD and BayLDA to take additional supervisory measures in the event of violations. Worldcoin has taken measures, including introducing age verification controls and the option to remove iris codes
AstarNetwork's new proposal suggests destroying 5% of its genesis allocation of ASTR tokens, about 350 million
According to the Astar Network announcement, the Astar Foundation has launched a proposal to destroy 5% of its genesis allocation of ASTR tokens (about 350 million, worth about $38 million). This proposal is intended to respond to the upcoming Agile Coretime upgrade of the Polkadot network, which will phase out the concept of crowd lending. The proposal suggests increasing the rewards for stakers by reducing the total supply of staked tokens, thereby benefiting ASTR holders. In addition, the Astar Foundation also proposed to transfer 74 million ASTR (about $6.5 million) rewards generated through dApp Staking to the on-chain treasury to fund future development projects. Community discussions will be open for three weeks, and voting will take place three weeks later. If consensus is reached, the foundation will execute the destruction plan, otherwise other solutions will be considered for further discussion and voting.
Watford Football Club plans to sell 10% digital equity to investors and fans via Seedrs platform
According to CoinDesk, the British football team Watford Football Club will offer investors and fans a 10% stake in the club through Seedrs, the European branch of the investment platform Republic. Watford is a team in the English Football League Two and has regularly participated in the Premier League in the past decade. The club plans to raise about 17.5 million pounds (22.3 million U.S. dollars) at a price of about 12 pounds per share. In addition to digital equity, investors can also choose to receive tokens to get exclusive offers. The club also said that it will allow trading of these tokens in the future.
Modular blockchain project Avail completes $43 million Series A financing
According to The Block, Peter Thiel's Founders Fund co-led a $43 million Series A round of investment in Avail, a modular blockchain project separated from Polygon. Dragonfly and Cyber Fund co-led this round of financing. Other investors include SevenX Ventures, Figment Capital, Nomad Capital, Chapter One, Foresight Ventures, Mirana Ventures, KR1, Alliance and Hashkey Capital. Avail aims to simplify and enhance the scalability of blockchain through modular design, and its products include Data Availability Layer (DA), Nexus Permission Verification Center and Fusion Security. This financing will help Avail advance the launch of its mainnet and further develop its technology and market positioning. Avail is currently running on the testnet and plans to launch Nexus later this year and Fusion Security next year.
Ethereum L2 Fhenix Completes $15 Million Series A Funding, Led by Hack VC
According to The Block, Fhenix, an Ethereum Layer 2 network focused on data confidentiality, raised $15 million in Series A funding and launched an open testnet. Hack VC led the round, with participation from Dao5, Amber Group, Primitive Ventures, GSR, Collider Ventures and Stake Capital. The Series A funding brings Fhenix’s total funding to $22 million. The Fhenix mainnet is expected to be launched in the first quarter of next year. Last September, it was reported that the blockchain project Fhenix completed a $7 million seed round of financing, led by Multicoin Capital and others.
BNB briefly broke through $710, setting a new all-time high
The market shows that the price of BNB briefly exceeded $710 and once reached $716, setting a new record high. BNB is currently trading at $708.2, with a 24-hour increase of 12.68%.
Justin Sun spent 15,000 ETH 7 hours ago to buy PT tokens from two LRTs that expire on June 27.
According to @EmberCN monitoring, Justin Sun spent 15,000 ETH (about 57.3 million USD) to buy PT tokens of two LRTs expiring on June 27 seven hours ago: 10,000 ETH to buy 10,097 PT-weETH (1:1 exchange for weETH on June 27); 5,000 ETH to buy 5,031.1 PT-pufETH (1:1 exchange for pufETH on June 27). At present, Sun Yuchen has spent a total of 33,000 ETH in two days to buy LRT PT tokens expiring on June 27 on Pendle, and can get about 348.9 ETH (about 1.33 million USD) in return after expiration. In twenty days, you can get a 1% currency-based return (about 17% annualized).
The first leveraged Ethereum ETF in the United States has been listed, with a trading volume of over $5 million on the first day
Eric Balchunas, ETF analyst at Bloomberg, said on X-platform: "The first leveraged Ethereum ETF in the U.S., the Volatility Shares 2x Ethereum ETF (ETHU), launched today with over $5 million in volume, which is pretty good for a newly launched ETF and more than all Ethereum futures ETFs combined on their first day, but still tiny compared to Bitcoin. For context, IBIT and BITO both did 200x that volume on their first day. To be fair, those were long-only funds launched by large issuers. This is a 2x leveraged product launched by an independent company. So, again, the good news is: large first-day volume relative to regular ETFs; the bad news is: tiny volume compared to Bitcoin."
Data: On June 4, BlackRock IBIT had a net inflow of $275 million, and Grayscale GBTC had an inflow of $28 million
According to HODL15Capital monitoring, on June 4, BlackRock IBIT had a net inflow of US$275 million, Grayscale GBTC had a net inflow of US$28 million, Bitwise BITB had a net inflow of US$61 million, and Ark ARKB had a net inflow of US$139 million.
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