Headlines
▌Bitcoin Layer 2 Stack has not produced any blocks for nearly 9 hours this morning
Bitcoin Layer2 Starx suffered a network outage early this morning and did not produce blocks for nearly 9 hours. The official attributed the incident to Bitcoin reorganization (reorg) and "unexpected miner behavior. Block production has now resumed.
▌Bloomberg ETF analyst: The launch date of the spot Ethereum ETF may be brought forward to July 2
Bloomberg ETF analyst Eric Balchunas wrote on the X platform: "The launch date of the spot Ethereum ETF may be brought forward to July 2. I heard that the staff sent comments on the S-1 to the issuer today, and the comments were brief. There were no major issues and asked for a reply in a week. They are likely to announce the effectiveness next week and resolve the matter before the holiday. Anything is possible, but this is our best guess at the moment. The previous forecast date was July 4, so this is not a major shift."
Quotes
As of press time, according to Coingecko data:
The latest transaction price of BTC is $66088.72, with a daily change of -0.8%;
ETH's latest transaction price is $3485.19, with a daily change of +0.49%;
BNB's latest transaction price is $603.20, with a daily change of +0.98%;
SOL's latest transaction price is $143.58, with a daily change of -2.26%;
DOGE’s latest trading price is $0.1353, with a daily change of -4.05%;
XPR’s most recent trading price is $0.475, with a daily change of -0.34%.
policy
▌Oklahoma Governor Signs Bill to Exempt BTC Miners from Electricity Sales Tax
The governor of the U.S. state of Oklahoma signed a bill exempting BTC miners from sales tax on their electricity bills.
▌Japan’s Financial Services Agency issues warning to overseas cryptocurrency exchange LBank Exchange
On June 14, the Japanese Financial Services Agency issued a warning to the overseas cryptocurrency (virtual currency) exchange "LBankExchange", claiming that it provided unregistered virtual currency transactions. The Financial Services Agency stated that LBank Exchange "is located in an unknown location and has an unknown representative, and conducts crypto asset trading business for Japanese residents through the Internet." According to CoinGecko statistics, LBank ranks 56th among small and medium-sized exchanges in the 24-hour spot trading volume ranking.
▌US lawmakers discuss embracing Bitcoin's potential to secure the financial future
U.S. Senators Cythina Lummis and Vivek Ramaswamy discussed the “huge potential for America to embrace Bitcoin” to “secure the nation’s financial future.”
▌Federal Reserve issues cease and desist order against Evolve Bank
Evolve Bank and Trust reached a cease and desist agreement with the Federal Reserve, which found that the bank had unsafe and unsound practices in some of its fintech partnerships and lacked adequate anti-money laundering controls. Evolve came under scrutiny due to the failure of intermediary Synapse Financial Technologies, which resulted in the freezing of accounts of many fintech users. The problem was complicated by disagreements between Synapse and Evolve's accounts and those of some fintech companies regarding account amounts. Evolve plays an important role in the cryptocurrency ecosystem, including providing financial services to BlockFi and FTX clients. The cease and desist order requires Evolve to submit a more detailed compliance plan and updated due diligence procedures to ensure that it has sufficient customer information.
▌South African President Cyril Ramaphosa successfully won re-election
South African President Cyril Ramaphosa was successfully re-elected and will lead the country's first multi-party coalition government. Cyril won 159 seats, which was less than a majority, and formed a national unity government with the Democratic Alliance, the Inkatha Freedom Party and the Patriotic Alliance. Cyril will continue to govern for five years, but no longer has a strong majority support advantage. The election has little impact on South Africa's cryptocurrency industry. The Financial Sector Conduct Authority (FSCA) established a cryptocurrency licensing system, making South Africa one of the first countries in Africa to implement the system. Companies such as Luno, Zignaly and VALR have obtained licenses. South Africa has included crypto services in the Financial Advisory and Intermediary Services Act to regulate digital assets. The inter-governmental Fintech Task Force plans to review stablecoin use cases and explore the impact of tokenization. Starting in April, South Africa will consult on directives to include cryptocurrencies in travel rules, requiring wallet and passport information to be transmitted when transferring money to curb money laundering.
▌US SEC Chairman: The economic substance of a product determines whether it is a security under the Securities Act
The U.S. Securities and Exchange Commission (SEC) announced that Terraform Labs PTE, Ltd. and Do Kwon agreed to pay more than $4.5 billion in damages for a multi-year fraud involving crypto asset securities that resulted in huge losses for investors when the scheme collapsed. SEC Chairman Gary Gensler said this case confirms the reiterated fact that the economic substance of a product, not its label, publicity or hype, determines whether it is a security under securities law.
▌Japan's Marui Group announced the issuance of 170 million yen digital green bonds through Securitize
Marui Group, a major Japanese retailer, issued a digital green bond through Securitize Japan, a subsidiary of Securitize. However, the scale of this issuance is small, only 170 million yen (1.1 million US dollars). The investment target is Marui's EPOS credit card holders. The 1% interest on the bond is paid partly in EPOS points and partly in cash.
Blockchain Applications
▌Jupiter: Value Average is now available
Solana ecosystem DEX Jupiter announced on the X platform that Value Average is now available on Jupiter as part of the V3 release. It is reported that Value Average aims to expand the investment portfolio by adjusting users' investments according to market trends, buying more when prices fall and less when prices rise.
▌Modular data layer development project CARV completes a new strategic round of financing
CARV, which provides modular data layers for the gaming and AI industries, announced on the X platform that it has completed a new strategic round of financing. Double jump.tokyo Inc, a Japanese Web3 gaming company, participated in the investment. The specific amount and valuation data have not yet been disclosed. Double jump.tokyo Inc is the developer of the gaming Layer 1 blockchain Oasys. After this round of financing, it will become the node operator of CARV's decentralized data layer and explore technical integration with CARV. It is reported that CAR's core users will receive Oasys token airdrops.
Cryptocurrency
▌One victim lost $64,303 by copying the wrong address
According to Scam Sniffer, one victim lost $64,303 after copying the wrong address from a tainted transfer record.
▌Trump: Will end Biden's war on cryptocurrency and ensure Bitcoin is made in the United States in the future
Donald Trump said he would "end Joe Biden's war on cryptocurrency and ensure the future of cryptocurrency and Bitcoin will be made in America.
▌US mining executives founded the Bitcoin Voter Project to influence cryptocurrency voters
Executives from three large U.S. cryptocurrency mining companies have formed the nonprofit Bitcoin Voter Project to educate voters about Bitcoin and plan to launch before the 2024 presidential election. Jayson Browder of Marathon Digital Holdings serves on the organization's board of directors, along with executives from Riot Platforms and CleanSpark. The organization is registered as a 501(c)(4) organization and cannot primarily support a candidate or political party. The project has about $5 million for research and voter education, with the goal of getting voters to support candidates who support digital assets. Unlike Coinbase's Stand With Crypto PAC, the Bitcoin Voter Project currently does not list specific candidates or crypto-related legislation. Browder emphasized that the organization is nonpartisan, aims to identify and educate potential voters, and plans to influence political elections in the future. Many representatives of crypto advocacy organizations have expressed support for the Bitcoin Voter Project, and as of June 14, the organization has hundreds of people registered.
Aptos daily trading volume increased by more than 1,400% in three days
According to data from The Block, the number of transactions by Aptos users rose from 3 million on May 23 to 47.18 million on May 26, a surge of 1,466% in three days. The 7-day moving average of active addresses on Aptos has also rebounded, climbing from 61,000 at the beginning of May to more than 150,000 at the end of the month. It is reported that the recent surge does not seem to be related to the mass adoption of the Aptos blockchain, but a new clicker game called "Tapos", which was launched around the end of May and users can get HEART tokens in return.
▌Ethereum has about $11.64 million in on-chain loan liquidation quota around $3,234
According to DefiLlama data, Ethereum has an on-chain loan liquidation quota of approximately US$11.64 million around US$3,234.
Important economic developments
▌Fed Mester: It may take until 2026 to reach an inflation rate of 2%
Loretta Mester, FOMC voting member in 2024 and president of the Cleveland Fed, said in an interview with Bloomberg TV that the lower inflation rate in May is good news, but the central bank needs to "watch this situation continue for a while" before cutting interest rates. Therefore, there is still a lot of work to be done to gain confidence in fighting inflation. The median economic forecast is close to its view of the economy. It is hoped that there will be a few more months of similar inflation data. It may take until 2026 to reach an inflation rate of 2%.
▌The three major U.S. stock indexes closed with mixed gains and losses
The three major U.S. stock indexes closed mixed, with the Dow Jones Industrial Average down 0.15%, down 0.54% this week, and falling for four consecutive days; the S&P 500 fell 0.04%, up 1.58% this week, ending a four-day winning streak; the Nasdaq rose 0.12%, up 3.24% this week, setting a new record high for five consecutive trading days. Large technology stocks rose and fell, with Netflix up more than 2%, Nvidia up more than 1%, Google, Microsoft, and Meta up slightly; Tesla fell more than 2%, Apple and Amazon fell slightly. Among them, Nvidia and Microsoft continued to set new historical closing highs. Broadcom rose more than 3%, up more than 23% this week, the largest single-week increase in history.
Golden Encyclopedia
What are Validiums?
Validiums is a Layer 2 scaling solution designed to optimize Ethereum performance by processing transactions off-chain. Vailidiums are primarily responsible for reducing the load on the Ethereum blockchain by processing most transactions off-chain and only sending concise proofs to the mainnet for verification. The off-chain transaction processing method significantly increases throughput and reduces mainnet congestion, resulting in a more efficient and cost-effective Ethereum experience.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness.
