Analysis: Why Zero-Knowledge Proofs Will Penetrate Every Corner of Web3？

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Today, the U.S. Marshals Service (USMS), an agency within the U.S. Department of Justice that is responsible for asset forfeiture, announced that it selected Coinbase Prime to provide custody and advanced trading services for the agency’s “Class 1” (large cap) digital assets, which it manages centrally in support of federal law enforcement.

Circle announced that it has obtained an Electronic Money Institution (EMI) license. Its USDC stablecoin and EURC stablecoin have complied with the EU's new stablecoin regulations MiCA and will be officially issued to European customers from July 1. Circle claims to be the first global stablecoin issuer to comply with MiCA. CoinDesk

Tether announced a partnership with Uquid, a decentralized business infrastructure platform, to allow Filipinos to pay social security funds with USDT on the TON blockchain. The Social Security System of the Philippines is a state-run social insurance program that provides services to employees in the official, informal and private sectors.

According to CoinShares, digital asset investment products saw $30 million in outflows last week, the third consecutive week of outflows. Ethereum saw its largest outflow since August 2022, totaling $61 million, making it the worst performing digital asset investment product so far this year.

A whale who participated in the Ethereum ICO in 2015 and received 254,900 ETH (ICO price $0.311) transferred 7,000 ETH ($24.28M) to Kraken today after 209 days of silence. Currently, this whale still holds 40,000 ETH ($139.5M). @EmberCN
https://etherscan.io/address/0x2eb08efb9e10d9f56e46938f28c13ecb33f67b15

According to Arkham, U.S. Government: 0x05...e049 transferred 3.375k ETH, worth about $11.75 million, to an unknown address: 0x5a...1871 at 16:34 UTC+8 today. The address holds the seized funds of Estonian crypto entrepreneurs Potapenko and Turogin. Previously, another U.S. government address used to hold the seized funds transferred 11.84 BTC to 3KHnTq...muuso9.

According to Arkham, the German Government transferred a total of 400 BTC to Bitstamp, Coinbase and Kraken at 16:25 UTC+8 today, worth about $25.28 million. Since the previous two weeks, the German Government has transferred a total of more than 2,700 BTC to CEX.

Japanese Prime Minister Fumio Kishida will give a speech at this year's WebX conference in Tokyo, Japan, to show support for the development of the Web3 industry in Japan. The conference event will be held from August 28 to 29.
https://coinpost.jp/?p=541942

BingX announced an new phase in its partnership with Chelsea. Starting from the 2024/25 Premier League season, BingX will transition from being a Sleeve Partner to the Official Training Wear Partner of Chelsea’s men’s team, one of the world’s most prestigious football clubs.

Just In: Binance announced that it has added Monitoring tags to the following tokens, warning that these tokens may be delisted: Balancer (BAL), Cortex (CTXC), PowerPool (CVP), Convex Finance (CVX), Dock (DOCK), Kava Lend (HARD), IRISnet (IRIS), MovieBloc (MBL), Polkastarte (POLS), Status (SNT), Sun (SUN). The tokens that have been removed from the tag are Enzyme (MLN) and Horizon (ZEN).

QCP: BTC spot ETF inflows also continue to recover with $73m of nett inflows last Fri, which is the highest daily inflow in 2 weeks. Looking at seasonality, BTC has a median return of 9.6% in July and tends to bounce back strongly especially after a negative June (-9.85%). Our options desk also saw flows positioning for an upside move last Friday into the month-end, possibly in anticipation of the ETH spot ETF launch. Many signs point to a bullish July.

Vitalik published an article titled Epochs and slots all the way down: ways to give Ethereum users faster transaction confirmation times. Currently, Ethereum's Gasper consensus mechanism uses a slot-and-epoch architecture, but this mechanism is complex and the finality confirmation time is too long (12.8 minutes). SSF uses a mechanism similar to Tendermint to terminate the block before the next block is generated, while retaining the "inactive leakage" mechanism to ensure the stable operation and recovery capability.

Exclusive: Sony Group, one of Japan's largest companies, has acquired Amber Japan, officially entering the crypto exchange field. Sony's businesses include games, music, cameras, etc., with a market value of more than $100 billion. Singapore market maker Amber Group acquired Japan's regulated cryptocurrency trading platform DeCurret in early 2022 and changed its name to Amber Japan. Later, due to the collapse of FTX, Amber Group fell into trouble and was suspected of a complete debt-to-equity transaction with Fenbushj. Amber Group investors include Temasek, Sequoia China, Pantera, Tiger, Coinbase, etc.

Asia's weekly TOP10 crypto news: South Korea's "Virtual Asset User Protection Act" Set to be Implemented, HKUST Vice President Wang Yang Criticizes Mining Ban and Top10 News（0624-0630）
https://open.substack.com/pub/wublock/p/asias-weekly-top10-crypto-news-jun-113?r=jbpop&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true

According to DeBank, Abraxas Capital Mgmt (Heka Funds): 0xed…4312, which was marked by Arkham, withdrew 30,000 ETH (worth about $102 million) from Bitfinex at 16:50 UTC+8 today, and then deposited all 30,000 ETH into Spark and loaned out stablecoins. https://debank.com/profile/0xed0c6079229e2d407672a117c22b62064f4a4312

The Arkham team said that they had studied the wallet address of Ethereum co-founder Vitalik Buterin, the total value of ETH currently held has exceeded $800 million, most of which came from the ETH allocation he received during the launch of Ethereum, about 246,730 ETH. He also invested in many projects such as StarkNet.

Kaiko shows that the proportion of Bitcoin traded on weekends has fallen to an all-time low of 16% this year. The launch of spot Bitcoin ETF changed the Bitcoin trading schedule to be more in line with the traditional stock trading platforms and reduced Bitcoin price volatility.

Bitcoin miners have earned less than 2 bitcoins in total from Runes transactions for the past six consecutive days, a sharp drop from the record 884 bitcoins on April 24. Daily Runes transactions averaged 37,820 between June 22 and 28, down nearly 90% from the 331,040 daily average between June 9 and 15.

According to data shared by Coinbase Director Conor, Ethereum is experiencing the lowest average network fee since 2016. Among the 10 periods with the lowest average fee per hour on the Ethereum network, 9 were recorded this week, all below 3.3 gwei. At 4:00 UTC on June 30, the average fee per hour on the Ethereum network was only 2.94 gwei, the second lowest in history.