Today's news tips:
Hong Kong Treasury Bureau: Will soon publish the consultation summary of the proposed regulatory regime for stablecoin issuers
UXLINK releases airdrop rules and process: the initial circulating supply is 17%, of which community airdrops account for 10%
Two US Bitcoin ETFs surpass MicroStrategy to become the largest corporate Bitcoin holders
Automotive software provider CDK Global allegedly paid $25 million in Bitcoin to settle a ransomware attack last month
A dormant Bitcoin address for nearly 12 years was activated at midnight, containing 1,000 BTC
The whale "capybara_bnb" transferred more than 600,000 BNB to Binance, worth about $338 million
CoinShares: Net inflows of digital asset investment products reached $1.44 billion last week
Scroll mainnet TVL exceeds $1 billion, setting a new record
Regulatory News
Trump will still speak at Bitcoin conference this month
Bitcoin Magazine CEO David Bailey tweeted that Trump will still attend and give a speech at the 2024 Bitcoin Conference in Nashville this month. The conference will be held from July 25 to 27, and Trump will give a 30-minute speech at 2 p.m. on the last day of the conference. According to previous news, on the afternoon of the 13th, local time, when Trump was giving a speech at a campaign rally in Pennsylvania, USA, gunshots were heard at the scene, Trump had blood on his right ear, one person in the audience was killed and two were injured, and the gunman had been shot dead by the U.S. Secret Service.
Hong Kong Treasury Bureau: Will soon publish the consultation summary of the proposed regulatory regime for stablecoin issuers
According to FXCM, the Hong Kong Financial Services and the Treasury Bureau stated that after the licensing system for virtual asset service providers came into effect in June last year, the Financial Services and the Treasury Bureau and the HKMA consulted the public on the proposed regulatory system for stablecoin issuers in Hong Kong at the end of last year, and will soon publish a consultation summary to prepare a draft bill for deliberation by the Legislative Council.
The Treasury Bureau pointed out that it hopes that an appropriate regulatory regime for fiat stablecoin issuers that complies with international regulatory recommendations can provide adequate protection for fiat stablecoin users and address the potential risks posed by fiat stablecoins to monetary and financial stability, so that Hong Kong's virtual asset ecosystem can develop sustainably and responsibly.
Given the important role of fiat stablecoins in the Web3 and virtual asset ecosystems, and the increasingly close connection between the traditional financial system and the virtual asset market, there is a need for the government to establish a regulatory system for fiat stablecoin issuers. The main requirements include: reserve management and stabilization mechanisms, including requiring issuers to ensure that fiat stablecoins are fully backed by high-quality and highly liquid reserve assets; redemption requirements; and regulatory requirements such as governance, knowledge and experience.
At the same time, in order to protect the users of fiat stablecoins, it is recommended that only the following institutions can sell fiat stablecoins in Hong Kong or actively promote related services to the Hong Kong public: licensed fiat stablecoin issuers; authorized institutions (i.e. banks); licensed corporations; and licensed virtual asset trading platforms. For existing stablecoin issuers, the proposed regulatory system will also have corresponding transitional arrangements.
Project News
Celsius settles with KeyFi and its founder to liquidate multiple tokens and hundreds of NFTs
According to The Block, after months of legal battles, Celsius has reached a settlement with KeyFi and its founder Jason Stone. Under the settlement, KeyFi will transfer a large number of assets to Celsius, including wallets containing a variety of small tokens and hundreds of NFTs, as well as the $1.1 million in proceeds from the sale of MAYC to billionaire Adam Weitsman currently in custody. KeyFi will also transfer assets related to DeFi protocols Spartan, unslashing, Stakehound and crypto company Fireblocks. Celsius will liquidate these assets within the next 12 months. Celsius will initially pay KeyFi and Stone $300,000, plus a rare NFT created by Marco Santorini. After liquidation, Celsius will also pay KeyFi 10% of the proceeds, up to $500,000.
Automotive software provider CDK Global allegedly paid $25 million in Bitcoin to settle a ransomware attack last month
According to Beincrypto, chain detective ZachXBT revealed that the ransomware gang associated with the June cyberattack against CDK Global, a major supplier of software to US auto dealers, received more than $25 million in Bitcoin. Last month, CDK Global suffered an attack that caused its software to be disrupted, affecting about 15,000 US auto dealers. According to ZachXBT, an address associated with BlackSuit received a payment of 387 BTC on June 21. The funds were subsequently transferred to several centralized exchanges. BlackSuit emerged in 2023 and has become a well-known ransomware gang targeting US companies. The payment is consistent with a previous report by Bloomberg that CDK Global plans to pay a ransom to prevent its data from being made public. The company has agreed to pay tens of millions of dollars to speed up the recovery of its systems. However, CDK has not yet confirmed whether the ransom was paid. Instead, it announced that almost all of its nearly 15,000 auto dealer customers were back online last week.
UXLINK releases airdrop rules and process: the initial circulating supply is 17%, of which community airdrops account for 10%
UXLINK released the airdrop rules and process of its governance token UXLINK in its official blog. The total supply of UXLINK is 1 billion tokens, 65% of which will be allocated to the community, 40% to users, and 25% to developers and partners in the ecosystem. However, the initial circulation supply at the time of TGE is 17%, of which 10% will be airdropped to the community, 3% will be provided for liquidity, 3% will be allocated for market activity, and 1% of the profits will be used for UFLY Labs to support the development of the community ecosystem. The target audience of the airdrop is UXLINK NFT holders and UXLINK community contributors who do not yet hold UXLINK NFTs.
Season 1 airdrop rules: All target users eligible to participate in the Season 1 airdrop will receive their wallet address and UXLINK account quality score, including UXLINK social contribution score, professional third-party TRUSTALAB sybil identification, third-party wallet certification, and third-party partner whitelist certification. Factors that may affect the quality score include: addresses that are certified as suspected sybil accounts by a third party, addresses that use third-party wallet connections to participate in activities but are not certified by third-party wallets, low-value social network addresses owned by UXLINK, and addresses that participate in third-party activities but are not certified by the third-party activity whitelist. In the following cases, users will receive 100% of the airdrop: users who purchase NFTs through ETH on the official website, users with high UXLINK social contribution scores, users recognized by professional third-party anti-sybil attacks, users with certified third-party wallet addresses, and users certified by the partner whitelist.
Regarding the airdrop solution for users whose quality score is temporarily unqualified: If you surrender within 3 days, you can get 15% of the tokens airdrop compensation, and the remaining 85% of the tokens will be redistributed to qualified community contributors through staking and redistribution, keeping it open and transparent. If you do not sue yourself, you can submit complaint materials and proof within 6 months. The community will evaluate and review the case. Those who pass the review will receive 100% airdrops, and those who fail the review will not receive airdrops. No airdrops will be given to those who do not actively report or appeal. The unairdropped tokens will be redistributed to qualified community contributors through staking and redistribution. The first season airdrop will only be for S1 users, and the S2 airdrop will be later than S1.
OKX will launch UXLINK (UXLINK) spot trading
According to the official announcement of OKX, UXLINK (UXLINK) will be listed on the OKX spot trading market, and UXLINK deposits will be open at 14:00 on July 15, 2024. UXLINK/USDT spot trading will be open at 16:00 Beijing time on July 18, 2024. UXLINK withdrawals will be open at 18:00 on July 19, 2024.
Two US Bitcoin ETFs surpass MicroStrategy to become the largest corporate Bitcoin holders
According to Ibtimes, more than six months since its launch, two US Bitcoin ETFs have surpassed MicroStrategy to become the world's largest corporate Bitcoin holders by market value. At the same time, another ETF is catching up with MicroStrategy, which was once the king of Bitcoin holdings in the corporate world. Based on current prices, BlackRock's IBIT currently holds 316,284 Bitcoins, worth approximately $19.8 billion. The largest corporate Bitcoin holders as of July 12 include: IBIT, GBTC, MSTR (MicroStrategy), FBTC, ARKB, BITB, MARA, HODL, TSLA, COIN, HUT, BRRR, SQ, CLSK. GBTC (Grayscale) is not the only growth Bitcoin ETF; although it is not popular among retail investors due to its high management fees, it has gradually gained the attention of institutional investors in recent months and currently holds 273,726 Bitcoins. Currently, MicroStrategy still occupies a stable third position, currently holding 226,331 Bitcoins. However, Fidelity's FBTC is catching up quickly, holding 176,992 Bitcoins. Tether holds 75,354 Bitcoins, while ARK 21Share's ARKB holds 47,764 Bitcoins. Bitwise Chief Investment Officer Matt Hougan believes that although Bitcoin spot ETFs have attracted about $15 billion in net new assets since listing, they are only "just getting started." If his prediction comes true, MicroStrategy may soon be surpassed by FBTC and other Bitcoin ETFs in the top three positions.
SEND: Alpha Vault has ended with a total deposit of more than 720,000 SOL
Solana Blinks ecosystem meme project SEND said that the Alpha Vault has ended with a total deposit of more than 720,000 SOL. After the token is launched at 4:20 pm UTC, users can withdraw unused SOL from Meteora. It is understood that the Alpha Vault is capped at 999 SOL, which means that SEND has oversubscribed by more than 700 times.
Minterest is suspected of being attacked by flash loans, losing about $1.4 million
The cross-chain lending protocol Minterest said on the X platform that it is currently investigating a vulnerability on Minterest. As a precautionary measure, the team has suspended the supply and borrowing functions on the Minterest application. At present, the attacker cannot take further action. The team is working hard to resolve this issue and will resume full operations soon. According to Chaofan Shou, co-founder of fuzzland, the attacker used a flash loan attack, causing the protocol to lose approximately US$1.4 million.
Important data
A dormant Bitcoin address for nearly 12 years was activated at midnight, containing 1,000 BTC
According to Whale Alert monitoring, at 4:22:50 Beijing time, a Bitcoin address that had been dormant for nearly 12 years was activated. The address held 1,000 BTC (worth $11,908 in 2012), currently worth about $60 million.
Golem Network transferred about 4050 ETH to the exchange through the transit address
According to the on-chain data platform Arkham, Golem Network transferred about 4,050 ETH to exchanges Coinbase and Binance through a transit address today, worth about $12.93 million. Currently, the address still holds 66,327 ETH, worth about $211 million.
DOGS's Telegram channel has exceeded 5 million subscribers
The number of subscribers to the Telegram channel of the TON ecosystem MEME project DOGS community has exceeded 5 million, and the current number of subscribers is 5,129,351.
Bitcoin whales added 71,000 BTC worth about $4.3 billion during last week’s price drop
According to Cointelegraph, a chart from crypto analysis company IntoTheBlock shows that Bitcoin whale addresses increased their holdings by 71,000 bitcoins, worth about $4.3 billion, when the price retreated to $54,200 on July 5. In addition, CryptoQuant data shows that Bitcoin whales are currently hoarding Bitcoin at the fastest rate (calculated on a 30-day moving average), which is the fastest rate since April 2023 (the Silicon Valley Bank collapse crisis in the United States). CryptoQuant analyst Minkyu Woo added: "This shows that BTC's bottom may be close to completion." At the same time, crypto analysis company Santiment pointed out that small traders have been selling their assets during the current decline; in addition, the number of Bitcoin wallets holding at least 10 BTC in the first 10 days of July increased by 261. Santiment commented that this should make traders feel at ease about the long-term bullish future.
Scroll mainnet TVL exceeds $1 billion, setting a new record
According to L2BEAT data, the TVL of Ethereum Layer2 network Scroll mainnet exceeded US$1 billion, setting a record high.
Chainlink whales have increased their holdings of 10 million LINK in the past two weeks, worth about $120 million
According to on-chain analyst @ali_charts, Chainlink whales have purchased more than 10 million LINK in the past two weeks, with a total value of approximately US$120 million.
Solana chain's "Trump attack" themed meme coin FIGHT briefly broke through $0.015, setting a new high
DEX Screener data shows that Solana chain "Trump attack" theme meme coin FIGHT hit a new high of $0.01546 at noon today, and is now at $0.01406, with a 24-hour increase of 439%. In addition, Ethereum chain FIGHT is now at $0.01026, and the 24-hour increase has narrowed to 151%.
CoinShares: Net inflows of digital asset investment products reached $1.44 billion last week
According to the latest weekly data from CoinShares, digital asset investment products continue to be bought when prices are weak, with an inflow of $1.44 billion last week, the fifth largest weekly inflow ever, bringing the year-to-date inflow to a record $17.8 billion, far exceeding the $10.6 billion in 2021. Bitcoin inflows of $1.35 billion last week, the fifth highest weekly inflow in history, while short Bitcoin had the largest weekly outflow of $8.6 million since April. Ethereum inflows of $72 million last week may be due to the upcoming approval of spot-based ETFs in the United States.
The whale "capybara_bnb" transferred more than 600,000 BNB to Binance, worth about $338 million
Debank data shows that the whale (0xda…64fe) marked as "capybara_bnb" on the chain withdrew 397,612.5 BNB from BNB Chain Staking at 17:50 (Beijing time) today, and then transferred 602,200 BNB (worth about US$338 million) to the Binance deposit address at 17:53 today. Currently, there are only 57.6 BNB left in the capybara_bnb wallet.
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