Headlines
Consensys: SEC will end investigation into Ethereum 2.0 and will not charge ETH sales as securities transactions
Odaily Planet Daily News Consensys announced on X that Ethereum developers, technology providers, and industry participants have won a major victory: the U.S. SEC Enforcement Division has notified us that it will end its investigation into Ethereum 2.0. This means that the SEC will not allege that the sale of Ethereum is a securities transaction. This decision follows a letter we sent on June 7, which asked the SEC to confirm that the approval of the Ethereum spot ETF in May was based on the premise that ETH is a commodity, which means that the agency will end its investigation into Ethereum 2.0. This decision is significant, but it is not a panacea for many blockchain developers, technology providers, and industry participants who have suffered under the SEC's illegal and aggressive cryptocurrency enforcement regime. Our fight continues. In the lawsuit, we also requested a statement that providing user interface software MetaMask Swaps and Staking does not violate securities laws. It shouldn't take a lawsuit to provide much-needed regulatory clarity to allow an industry that is the backbone of countless new technologies and innovations to flourish-we have done it.
People familiar with the matter: Ethereum spot ETF issuers may respond to SEC comments before Friday
Odaily Planet Daily News: Two people familiar with the matter revealed that the proposed Ethereum spot ETF issuer received comments on the S-1 filing from the US SEC last week and plans to submit a response by Friday this week. A source from an issuer said that the latest round of comments was "reasonable" and is expected to be approved soon. Another source said, "I expect someone to submit documents soon this week, and then we will see how many rounds of applications are needed." In May of this year, the Ethereum spot ETF 19 b-4 form was approved, and then the issuer submitted the first round of S-1 drafts. SEC Chairman Gary Gensler said that the time to approve the S-1 will largely depend on how quickly the issuer responds to the SEC's feedback. (The Block)
He Yi: I hope that the circulation volume of projects listed on Binance will not be less than 10%
Odaily Planet Daily News: Regarding the question of why TON is not listed on Binance, Binance co-founder He Yi responded that considering that many projects on the market have a circulation volume of 1-3% when they go online, Binance hopes that the project's circulation will be no less than 10%. If it joins Megadrop or Launchpool, the total number of airdrops will be in the single digits to double digits, and these coins are given to users by the project party.
Industry News
Hashdex submits dual ETF application for Ethereum and Bitcoin
Odaily Planet Daily News: Bloomberg ETF analyst James Seyffart posted on the X platform that Hashdex has just submitted an application for a dual ETF of Ethereum and Bitcoin, which will be weighted by market value. It is reported that the final deadline for approval by the U.S. Securities and Exchange Commission (SEC) should be around the first week of March 2025.
Bitwise submits Ethereum spot ETF S-1 revised document to SEC, Panterra plans to invest $100 million
Odaily Planet Daily News: James Seyffart, an analyst at Bloomberg ETF, said in an article on X that Bitwise has submitted an S-1 revised document for the Ethereum spot ETF to the US SEC, which will include changes after the SEC's first round of comments. It is not clear whether more rounds of comments are needed, and the cost of the product has not been disclosed. Seyffart said: "Based on this document, it is impossible to tell when these products will be launched. It may not require any additional updates, or it may need adjustments. But it still has to wait for the final approval of the SEC. The release time depends mainly on the SEC. Eric Balchunas (another Bloomberg ETF analyst) and I believe that the Ethereum spot ETF should be launched before July 4." He also pointed out: "It looks like Panterra will invest $100 million in the Bitwise Ethereum ETF (ETHW). Panterra is an investor in Bitwise (I think) and invested $200 million in its Bitcoin ETF (BITB) (Panterra did not submit a 13 F document, saying that it still holds BITB).
Matrixport is listed in the 2024 Hurun Global Unicorn List
Odaily Planet Daily News: Digital asset financial services platform Matrixport announced that it has been selected for the "2024 Global Unicorn List" released by Hurun Research Institute. The "2024 Global Unicorn List" lists non-listed companies in the world that were established after 2000 and are worth more than US$1 billion. Since 2017, Hurun Research Institute has tracked and recorded unicorn companies, and this is the sixth time that the Global Unicorn List has been released. Matrixport provides virtual asset trading, lending, financial management, asset appreciation and custody services to institutions and qualified investors in many countries and regions around the world. Two years after its establishment, in 2021, it completed its Series C financing with a valuation of more than US$1 billion, joining the ranks of unicorns, and was named one of the 50 most promising blockchain and crypto companies in the world by CB Insights in 2022. (PRNewswire)
Cumberland New York Entity Receives BitLicense from NYDFS
Odaily Planet Daily News: Digital asset trader and liquidity provider Cumberland DRW said on Monday that the New York State Department of Financial Services (NYDFS) issued a virtual currency license BitLicense to its New York-based entity. Cumberland is a subsidiary of Chicago high-frequency trading company DRW. Earlier this year, Cumberland was one of the trading companies selected by Fidelity Investments to buy and sell Bitcoin for the Bitcoin spot ETF that Fidelity began trading in January this year. (CoinDesk)
CleanSpark acquires five bitcoin mining farms in Georgia, USA for $25.8 million
Odaily Planet Daily News According to official news, Bitcoin mining company CleanSpark announced that it has acquired five Bitcoin mining farms in Georgia, USA, with a total power of 60 megawatts (MW) for US$25.8 million in cash. It is reported that CleanSpark plans to deploy its previously booked Antminer S 21 Pro mining machines in these mines, which are expected to add 3.7 EH/s of computing power after full installation. CleanSpark is the third largest publicly listed Bitcoin mining company in the United States. As of May, the company has achieved a computing power of about 17 EH/s and operates about 300 MW of mining farms in Georgia.
HashKey will issue its platform coin HSK in the third quarter and start community airdrops in late June
Odaily Planet Daily News According to a post by HashKey Group on the X platform, HashKey platform coin HSK is scheduled to be launched in the third quarter of 2024. Before the listing, HSK will launch a community airdrop to reward ecosystem participants. HSK is a token based on the ERC-20 standard with a total supply of 1 billion, of which 65% is used for ecosystem construction, 30% is allocated to the team, and 5% will be used as a reserve fund. HSK will have a destruction mechanism to prevent the rights and interests of holders from being diluted due to the increase in the circulation of rewarded HSK. HashKey will extract up to 20% of the profits of specific businesses to repurchase HSK and destroy some of the repurchased tokens. Subsequently, HSK will be used for community rewards within the ecosystem, priority purchase of exclusive tokens, cross-platform ecosystem cooperation, and handling fee deductions and business growth activities of HashKey Exchange, Hong Kong's largest licensed virtual asset exchange, and HashKey Global, the global flagship virtual asset exchange. In addition, HSK will also be used to incentivize contributors to the L2 ecological chain HashKey Chain and provide support for users and assets on the HashKey Chain. HSK is expected to launch community airdrops through the HashKey core business in late June to encourage users to participate in co-construction.
Project News
Consensys releases MetaMask privacy statement update, clarifies that private keys are not collected
Odaily Planet Daily News Consensys released an update to the MetaMask privacy statement, mainly including: 1. More clearly explain which specific elements in the privacy statement are related to MetaMask, and what each element means to MetaMask users. This includes increasing transparency on how IP addresses are handled when using MetaMask; 2. Include other background information related to Consensys's entire personal information processing activities; 3. Clarify the products and services within the scope of the privacy statement, remove Codefi and Quorum, and add MetaMask Institutional, MetaMask Developer, Linea, Teku, Besu and Phosphor. For MetaMask users, Consensy will: 1. Not collect private keys; 2. Not sell personal information; 3. Not collect or retain personal information unless it is necessary to provide services and a good user experience; 4. Not collect financial payment or bank information, but when users use the deposit and withdrawal functions, these services may need to submit this information to third-party providers.
Starknet Foundation: Propulsion Pilot Program Launches Season 0
According to official news, the Starknet Foundation announced the launch of Season 0 of the Propulsion pilot program. It is reported that after the success of Season 0, the program will launch more seasons and provide more opportunities for participation. In addition, the program has selected 20 projects, each of which will receive a maximum of $1 million in funding based on the gas usage of its game on the Starknet mainnet.
Cosmos: New cross-chain protocol ValenceZone is about to be launched
According to the official Cosmos X platform, a new cross-chain protocol, ValenceZone, will be launched soon. The protocol can complete permissionless inter-chain collaboration, allowing chains, dApps and DAOs to participate in the economic ecosystem. Valence expands the scope of IBC cross-chain and makes economic agreements possible, such as adjusting the composition of funds or lending POL according to market conditions.
BNB Chain plans to launch BEP 336 and introduce the BlobTx concept through the Haber hard fork on June 20
Odaily Planet Daily News According to official news, BEP 336 will be officially launched through the Haber hard fork, which is expected to take place on June 20, 2023. BEP 336 introduces "Blob-Carrying Transactions" (BlobTx), a concept designed to simplify the network's transaction verification process.
Flow: Temporarily postponed the Crescendo testnet upgrade because it was found that the core smart contract was not ready for migration
Odaily Planet Daily News According to official news, Flow released an update on the testnet migration: In preparation for the upcoming Crescendo testnet upgrade, we found that a core smart contract FiatToken has not been upgraded for Cadence 1.0 migration. FiatToken is a key dependency that affects hundreds of contracts. In order to avoid interruptions to dependent smart contracts and improve the developer experience of builders on Flow, the testnet upgrade has been temporarily postponed while we work with contract owners to upgrade. Once there is a clear roadmap and timetable, the community will be informed in a timely manner.
Ronin announces the launch of Ronin zkEVM to improve scalability
Odaily Planet Daily News: Ronin announced the launch of Ronin zkEVM on the X platform. Chain builders will be able to use the Polygon Blockchain Development Kit (CDK) to create their own zkEVM L2 blockchain on Ronin, marking an important step towards unlimited scalability for Ronin.
LayerZero CEO: We are deleting and responding to some falsely reported Sybil addresses one by one
Odaily Planet Daily News: In response to the list of real users that were mistakenly reported as Sybil addresses proposed by crypto researcher Cryptophile, LayerZero Labs CEO Bryan Pellegrino is responding one by one on the X platform and said that the corresponding addresses have been deleted from the Sybil address list.
Mysten Labs launches decentralized storage and data availability protocol Walrus
Odaily Planet Daily News According to official news, Mysten Labs announced the launch of the decentralized storage and data availability protocol Walrus, which is suitable for blockchain applications and autonomous agents. The developer preview version has been released to collect feedback. It is reported that the main advantages provided by the protocol include: cost-effective Blob storage, high availability and robustness.
Lista DAO airdrop will be open for inquiry at 17:00 on June 19th and for claiming on June 20th
According to official news, Lista DAO said that the airdrop will be open for inquiry at 17:00 on June 19, and the claim will be open at 17:00 on June 20. Users will have 30 days to claim the airdrop. Unclaimed tokens after 16:59 on July 19 will be reallocated to support the development plan of the ecosystem. 10% of the total supply of LISTA will be used for airdrops. When LISTA goes online, 8.5% of the tokens will be distributed immediately, and the remaining 1.5% will be distributed in subsequent airdrop activities after LISTA goes online.
STEPN GO is now available on Google Play Store
Odaily Planet Daily News: According to official news, STEPN GO has been launched on Google Play, and its first round of Alpha Draw will be open at 1 am on June 19 (UTC time).
Pixels Chapter 2 is now online
Odaily Planet Daily News: Pixels announced on the X platform that the second chapter has been officially launched. The second chapter is committed to making Pixels more interesting, while introducing new systems to ensure the sustainability of the game.
Foundation founders to launch new social network Rodeo, powered by Farcaster social graph
Odaily Planet Daily News: Kayvon Tehranian, founder and CEO of NFT market Foundation, posted on X: "A new social network called Rodeo is being developed. Its design is fun, simple and very social. It is currently invite-only." Dan Romero, co-founder of Farcaster, said that the upcoming new social network (Rodeo) is supported by Farcaster's permissionless and decentralized social graph.
Degen: New incentive mechanisms are being developed, related to DEGEN lock-up or pledge, to reward long-term holders
Odaily Planet Daily News: Farcaster Ecosystem Meme Coin Project Degen officially published a statement on the X platform stating that after listening to the opinions of the community, it realized that the current reward incentive policy is not ideal, and is currently developing a new incentive mechanism to reward long-term members and reduce farming behavior. Subsequent iterations will be made quickly and improvements will be made in the next season's activities to curb token farming behavior. In addition, the official clarified that the future system will require users to demonstrate their commitment to the Degen project by locking or staking, aiming to reward those who hold DEGEN tokens for a long time, and the corresponding incentive mechanism is currently under development.
Pac Finance is about to launch its native token PAC, which will allocate part of the airdrop based on the points, and 90% of the protocol revenue will be shared with pLP holders.
Odaily Planet Daily News: Pac Finance, a DeFi lending protocol on the Blast network, officially announced on the X platform that it will soon launch its native token PAC. Some tokens will be airdropped based on the Pac points accumulated by users; 90% of the protocol revenue will be shared with pLP holders. Users can earn Pac points by providing and lending assets on Pac. The number of points and the holding time determine the total number of points earned. Pac users can enjoy the improved APY, and additional airdrops will be made for Parallel users. Pac Finance will release a white paper and complete token distribution details as soon as possible.
Mystiko.Network: XZK Token Airdrop Inquiry Now Open
Odaily Planet Daily News Web3 base layer Mystiko.Network official posted on X platform that XZK token airdrop query is now open. Earlier news, the project announced the launch of Mystiko DAO and the introduction of the packaged XZK token vXZK. Mystiko early contributors can share 100% community ownership from the first day of TGE. XZK tokens were created as operational utility and governance tokens for Mystiko.Network, with an initial total of 1 billion.
Investment and Financing
Ixia Capital launches $20 million gaming venture fund, focusing on high-growth projects in Web3 and crypto
Odaily Planet Daily News Ixia Capital has launched a $20 million global gaming venture capital fund and studio, focusing on high-growth projects in the gaming, e-sports, Web3 and crypto fields. The fund plans to support more than 25 startups within five years, and will provide strategic guidance and operational support in addition to funding. Ixia Studio is currently launching six projects, including a sports NFT trading platform, a gaming loyalty rewards platform, a sports investment thought leadership platform, and sports reporting and gaming participation applications. (Gambling Insider)
Liquidity re-pledge protocol Renzo completes $17 million financing, expands re-pledge service, TVL approaches $4 billion
Odaily Planet Daily News Liquidity re-pledge protocol Renzo announced the completion of $17 million in financing. As of press time, Renzo's re-pledged TVL is close to $4 billion. The financing was divided into two rounds, the first round led by Galaxy Ventures and the second round led by Abu Dhabi-based Nova Fund - BH Digital. Previously, Renzo also received $3.2 million in investment from Maven 11, SevenX Ventures, Figment Capital and Binance Labs. Renzo allows users to deposit native ETH, stETH and wBETH (LSTs) and access EigenLayer. The distributed Ethereum validator infrastructure run by Renzo is powered by Figment, P2P.org and Hashkey Cloud to enable unlimited participation on Eigenlayer. Renzo is accessible from Arbitrum, Base, Blast, Linea, Mode and BNB Chain, and has integrated more than 100 DeFi projects.
Solana's second-layer network Sonic completes $12 million Series A funding round led by Bitkraft Ventures
Odaily Planet Daily News Solana Ecosystem Second Layer Network Sonic announced the completion of a $12 million Series A financing, led by Bitkraft Ventures, with participation from Galaxy Interactive, Big Brain Holdings, etc. It is reported that its fully diluted token valuation in this round of financing reached $100 million. Sonic's legal entity Mirror World Labs has built a proprietary technology called HyperGrid Framework, which can achieve horizontal expansion through Solana chain aggregation. (theblock)
Router Protocol Completes New Funding Round to Support Ethereum and BNB Chain Bridge
Odaily Planet Daily News: The bridge protocol Router Protocol announced the completion of a new round of financing. The specific amount has not been disclosed. The new funds will support it to provide Ethereum and BNB Chain bridge services and expand the bridge to more networks. Router Protocol was launched on Polygon and BSC chains in 2022, aiming to build a modular cross-chain framework for interoperable applications. (decrypt)
Regulatory trends
U.S. retail sales monthly rate in May was 0.1%, expected to be 0.3%, previous value was 0.00%
Odaily Planet Daily News: The monthly rate of retail sales in the United States in May was 0.1%, expected to be 0.3%, and the previous value was 0.00%; the control group of retail sales in the United States in May was 0.4%, expected to be 0.40%, and the previous value was -0.30%. The monthly rate of core retail sales in the United States in May was -0.1%, expected to be 0.20%, and the previous value was 0.20%. (Jinshi)
The proposal of the Financial Services Commission of South Korea to establish a new virtual asset department has been approved by the cabinet meeting
Odaily Planet Daily News According to Korean media reports, the proposal of the Financial Services Commission of South Korea to establish a new virtual asset department has been passed by the cabinet meeting. The revised job system and its related implementation rules will be announced and implemented on the 25th of this month. The Virtual Asset Department will be responsible for the necessary management and supervision of establishing the order of the virtual asset market and protecting users. The department will temporarily increase 8 personnel (by the end of 2025), including 1 level 4 staff, 4 level 5 staff, 2 level 6 staff and 1 level 7 staff.
South Korea’s Financial Services Commission says it will not directly participate in the review and delisting process of exchange tokens
Odaily Planet Daily News: In response to recent market rumors that South Korea's financial regulator plans to delist crypto assets that do not meet listing requirements by July this year, the Financial Services Commission (FSC) of South Korea said it will not directly participate in the review of cryptocurrencies listed on Korean exchanges. It said that the final announcement of token review and delisting will be responsible for each cryptocurrency exchange and the Korean Digital Asset Exchange Alliance (DAXA), a Korean digital asset exchange advisory body. (EBN)
Brazil’s tax authorities will require foreign cryptocurrency exchanges to provide business information
Odaily Planet Daily News: Brazil's tax authorities will soon summon foreign cryptocurrency trading platforms to ask them to explain their operations and how they work with local service providers. The Brazilian tax authorities are expected to issue a decree this week summoning these companies to provide further information. Unlike trading platforms officially established in Brazil, they are not obliged to report transactions conducted on their platforms. Andrea Chaves, deputy minister in charge of inspections at the Federal Taxation Bureau, said: "What we care about is to first understand how they operate here and whether there are any illegal activities. We are also concerned about Brazilian wealth information that needs to be taxed." (Reuters)
Character*Voice
Arthur Hayes: Increasing positions in PENDLE and DOGE
Odaily Planet Daily News Arthur Hayes posted on the X platform: "I like this kind of oscillating sideways trend that leads to a drop in the price of shitcoins. I am increasing my positions in PENDLE and DOGE."
1 0x Research: The selling pressure brought by the large-scale unlocking of altcoins is dragging down Bitcoin
Odaily Planet Daily News 1 0x Research said in its market analysis report that last week was a critical moment in the cryptocurrency market and one of the most critical weeks in 2024. Cryptocurrencies, especially altcoins, have fallen sharply. It is difficult for the market to digest the large amount of token unlocking of Aptos $97 million, IMX $51 million, STRK $75 million, SEI $62 million, ARB $90 million, APE $18 million and UNI $90 million, totaling $483 million. Early investors and venture investors seem to be under pressure to cash out, and these token flows are dragging down Bitcoin. Bitcoin miners have begun to sell their Bitcoin inventory, and the ETH balance on the exchange has increased significantly by $2.5 billion, which was previously associated with potential selling pressure. Despite improved inflation data, Bitcoin ETFs saw large outflows ($660 million on average over 5 days) as the overall net outflow from various sectors (stablecoins, futures leverage, ETFs, etc.) was $2.4 billion, the third week of declining net flows since the launch of the ETF in January 2024. In addition, as SOL-USDT breaks below key trend levels and support lines, SOL may face more downward pressure, with some analysts pointing out that it may fall to $100.
Bubblemaps: DJT is not associated with Trump, 67% of its volume is in one cluster
Odaily Planet Daily News According to the analysis of blockchain data company Bubblemaps, the DJT token rumored to be issued by Trump is actually not related to him. It pointed out that about 67% of the DJT supply is concentrated in one cluster, and 43% of the total supply is on the Solana ecosystem automated market maker Raydium. CoinGecko data shows that despite widespread suspicion, in just four hours after the rumor broke, the price of TRUMP fell 31%, temporarily reported at $8.1, and the market value evaporated by more than $150 million. Other small-cap Trump-themed Meme coins fell even more. For example, TREMP fell 36.8% from $0.95 to $0.6 in the same period, temporarily reported at $0.6971. (Cointelegraph)
