Headlines

Analysis: US government has seized 389,858 Bitcoins since 2013, of which 185,578 have been sold

According to data recently shared by the founder of timechainindex.com on X, the US government has seized a total of 389,858 bitcoins since 2013, and 185,578 of them have been sold over the years.

According to Arkham data, the US government address currently holds 203,239 BTC, worth $12.01 billion.

Mt.Gox addresses transferred about 13,265 BTC, of ​​which 12,000 were transferred to an address starting with 1 PuQBj

According to Arkham data, earlier today, the Mt.Gox address (starting with 1 MUQEi) transferred about 1,264.7 BTC (about 74.77 million US dollars) to the Mt.Gox cold wallet (starting with 1 JbezD), and transferred about 12,000 BTC to the address starting with 1 PuQBj, worth about 709 million US dollars.

Fed Governor Bowman: If inflation continues to fall, he will support rate cuts

Fed Governor Bowman said she still sees upside risks to inflation, but if price growth continues to slow, it would be appropriate for the central bank to begin gradually lowering interest rates. In her remarks, she said that if future data continue to show that inflation is moving consistently toward our 2% target, it would be appropriate to gradually reduce the federal funds rate to prevent monetary policy from becoming too restrictive.

Bowman believes that "some further progress has been made in reducing inflation" in recent months, but upside risks remain due to "increased geopolitical tensions, additional fiscal stimulus and increased housing demand caused by immigration." In addition, she said that the labor market continues to ease and there are signs that the labor market is moving towards better balance.

Israel and Hamas issued separate statements, and the situation between Palestine and Israel became tense again

According to the Times of Israel, alarms of suspected drone infiltration sounded in northern Israeli communities near the Lebanese border, including Metulla, Shemona and Tel Hai. In addition, the Palestinian Islamic Resistance Movement (Hamas) issued a statement on the 20th saying that the Israeli army launched an airstrike on a school that housed refugees in western Gaza City that afternoon, killing 12 people and leaving many others missing.

Industry News

Data: In the past month, about 19 million USDC were bridged from Optimism to Ethereum via Jumper

According to @omid_raz, a data analyst at the on-chain data analysis platform Flipside, in a post on the X platform, approximately 19 million USDC tokens were bridged from the @Optimism address to the @ethereum chain via Jumper in the past month.

In the past 9 days, the US Bitcoin ETF has had net inflows for 7 days

According to a post by HOD L1 5 Capital on the X platform on the 20th, the inflow of US Bitcoin ETFs is divided by day. In the past 9 days, there have been 7 days of net inflow.

Data: 60%of the world's top 25 major puppet funds have disclosed its Bitcoin ETF position

According to Bitcoin Magazine, 60% of the world's top 25 hedge funds have disclosed their Bitcoin ETF holdings. Among them: Citadel Investment Group: holds 812 BTC, 41 more this quarter. Millennium Management: holds 27,263 BTC, 1,429 more this quarter. Mariner Investment Group: holds 930 BTC, 493 more this quarter. Balyasny Asset Management: holds 6 BTC, 6 more this quarter. Renaissance Technologies: holds 286 BTC, 152 more this quarter. Point 72 Asset Management: holds 1,089 BTC. D.E. Shaw: holds 132 BTC. Verition Fund Management: holds 93 BTC. G.S. Asset Management: holds 6,202 BTC, with an increase of 6,202 this quarter. Schonfeld Strategic Advisors: holds 6,734 BTC. Bluecrest Capital Management: holds 9 BTC. Fortress Investment Group: holds 1,181 BTC, with an increase of 428 this quarter. Elliot Investment Management: holds 1,092 BTC, with an increase of 924 this quarter. Two Sigma Investments: holds 458 BTC, with an increase of 428 this quarter. Sculptor Capital Management: holds 876 BTC. Other funds such as Bridgewater Associates, AQR Capital Mgmt., and Alphadyne Asset Mgmt. have not yet disclosed their holdings of Bitcoin ETFs.

Project news

Babylon: There are only 2 days left until Bitcoin mainnet staking goes live, with the first phase staking limit being 1,000 BTC

Bitcoin staking protocol Babylon posted on the X platform: “In two days, the world’s first self-hosted Bitcoin staking mainnet will be officially launched.”

According to its announcement, Babylon Bitcoin staking will be launched in three phases, namely the Bitcoin locking phase (Bitcoin holders initiate the staking process by submitting Bitcoin staking transactions to the Bitcoin blockchain), the Bitcoin staking activation phase (a Babylon PoS chain will be launched to receive the cryptoeconomic security provided by the Bitcoin locked in the first phase), and the Bitcoin multi-staking activation phase (the Babylon Bitcoin staking protocol will evolve into a shared security market, enabling any PoS system to leverage Bitcoin staking security).

Data: Blast TVL fell 62% from its all-time high, and the number of daily active users fell to the lowest level in six months

Blast’s total value locked (TVL) fell 62% from its all-time high and its daily active users fell to its lowest level in six months. As Ethereum’s second-layer scaling network, Blast has faced challenges after experiencing massive user churn following its June airdrop. In early August, the network lost more than $300 million in liquidity and its TVL fell from $1.1 billion to $785 million, a six-month low. According to growthepie, Blast’s daily active users fell to 27,800 on August 18, the lowest level since the scaling solution was launched in late February. In comparison, Base and Arbitrum have more than 740,000 and 360,000 daily active wallets, respectively.

Starknet: Staking will be available on the testnet in September and on the mainnet in October

Starknet officials posted on the X platform: “Staking on Starknet is a milestone for our network.

1. Staking involves locking the user's STRK tokens in the Starknet staking contract to receive rewards proportional to the stake. Users can participate as a staker (need to run a full node) or a delegator (who can delegate STRK tokens to a staker). 2. Staking is an important milestone for Starknet as it enhances the security, decentralization, and efficiency of the network. It incentivizes participation and aligns economic interests, ensuring a strong and democratically governed ecosystem. While all effects may not be immediate, step by step, Starknet is getting closer to its decentralized vision. It is worth noting that Starknet is the only L2 that has announced and implemented staking so far. 3. If stakers and delegators decide to unstake their tokens, they must wait for a 21-day lock-up period before they receive their tokens. During this period, they will not be able to receive staking rewards and will not be able to withdraw funds. This measure guarantees the security and stability of the network. On the other hand, delegators can change delegators at any time without a lock-up period, which improves the market competitiveness of delegators. 4. The Starknet minting curve is a predefined schedule that dictates how new tokens are created and distributed to stakers. It reacts to the market: if a large amount of STRK is locked, inflation will be higher and rewards will be lower. If fewer STRK are locked, inflation will be lower and rewards will be higher. This incentivizes participation in staking without causing excessive inflation while ensuring that a large portion remains available for DeFi activities and fee payments. The inflation rate will be limited to between 1.8% and 2.5%. 5. The current goal is to launch the first phase of staking: launch on the testnet in September; launch on the mainnet in October. "

Investment and Financing

Anti-MEV tool developer Sorella Labs completes $7.5 million seed round of financing, led by Paradigm and participated by Uniswap

Sorella Labs, a crypto startup dedicated to solving Ethereum's MEV problem, has completed a $7.5 million seed round of financing led by Paradigm, with participation from Uniswap Ventures, Bankless Ventures, Robot Ventures, Nascent and others.

Sorella co-founder and CEO Ludwig Thouvenin said the company raised its seed round last September but announced the news on Tuesday because one of its MEV tools is now available. He declined to comment on the structure of the seed round, the valuation or whether any of the investors serve as directors or advisors to Sorella.

YeagerAI, the developer of decentralized AI network GenLayer, completes $7.5 million seed round led by North Island Ventures

YeagerAI, the developer of the decentralized artificial intelligence network GenLayer, has completed a $7.5 million seed round of financing led by North Island Ventures, with participation from venture capitalists such as Node Capital, Arrington Capital, ZK Ventures, WAGMI Ventures, BlockBuilders, and Arthur Hayes' family office Maelstrom, as well as several angel investors.

The YeagerAI team is pioneering a technology called “smart contracts,” a blockchain-based system that uses large language models connected to the internet to execute functions. GenLayer also leverages AI in its custom delegated proof-of-stake algorithm, which randomly selects a lead validator to propose an output, which is then voted on by four other validators connected to different large language models. If the subjective output receives majority support, the transaction is processed.

Ethereum L2 network Corn completes $6.7 million in financing, led by Polychain Capital

Ethereum L2 network Corn completed US$6.7 million in financing, led by Polychain Capital, with participation from Binance Labs, Framework Ventures, OKX Ventures, HTX, Ventures and Relayer Capital.

The project aims to enhance the utility of Bitcoin and introduce new yield-generating opportunities. Corn is a new Ethereum L2 network that uses a tokenized Bitcoin, BTCN, as the network's gas fee and economic incentive. Corn and BadgerDAO founder Chris Spadafora said Corn was launched on August 19 and aims to enhance the utility of the world's first cryptocurrency and introduce new yield-generating opportunities.

Singapore blockchain media platform Chain Debrief acquired by PEXX

PEXX, a stablecoin cross-border payment company, announced the acquisition of Singapore blockchain media platform Chain Debrief. The specific acquisition amount and valuation information have not been disclosed. Chain Debrief previously completed a $4.5 million financing led by TNB Aura and ANTLER. This acquisition will integrate its content library (including articles, tutorials and expert analysis) and community resources into the PEXX platform to help users better obtain the cryptocurrency knowledge and tools they need.

Last Odyssey Completes Seed Round Financing with Animoca Brands and OKX Ventures Joining

Last Odyssey, the first 5 X (explore, expand, collect, eliminate, exchange) social-based strategy game, has completed its seed round with investment from well-known venture capital firms OKX Ventures, Animoca Brands, Coin 98 Ventures, Selini Capital and Summer Capital. Built by Everest Ventures Group, Last Odyssey will continue to refine its gameplay and focus on esports elements to expand the immersive Web3 gaming experience and grow its community.

Web3 social gaming ecosystem Soulbound raises $4 million, with Animoca Brands and others participating

Web3 social gaming ecosystem Soulbound announced that it has completed a $4 million financing round, with participation from iAngels, Animoca Brands, Big Brain Holdings, NGC Ventures, Panony, Delta Blockchain Fund, and Blocklords CEO David Johansson. The new funds will be used to establish gaming partnerships, increase social interactions, and expand anchor bounties and social tasks.

ZK identity verification solution zkMe completes $4 million seed round led by Multicoin Capital

The zero-knowledge proof identity authentication solution provider zkMe officially announced on the X platform that it has completed a $4 million seed round of investment, led by Multicoin Capital, with participation from OKX Ventures and Robot Ventures. The funds will be used to optimize the zkMe zero-knowledge identity protocol, which has been online for 13 months, and develop zero-knowledge identity layer infrastructure to build a more complete zkMe privacy identity layer network, which is expected to be officially launched in Q4 2024.

Regulatory trends

Nigeria’s SEC plans to issue first digital services and tokenized asset licenses this month

Nigeria’s Securities and Exchange Commission (SEC) plans to issue its first digital services and tokenized asset licenses this month, according to Emomotimi Agama, director general. “As a crypto enthusiast and fintech enthusiast, I can tell you without a doubt that this is going to happen sooner than you think,” Agama said in an interview with Bloomberg TV. “We have to support the youth of this country so that they can benefit from fintech. The market is huge and it’s growing.”

Brazil's SEC approves second Solana ETF, offered by Hashdex in partnership with BTG Pactual

Brazil’s Securities and Exchange Commission (CVM) has approved the listing of a second Solana ETF.

According to its CVM database, the new Solana ETF is currently in the pre-operational stage and will be provided by Brazilian asset management company Hashdex (AUM over $962 million) in cooperation with local investment bank BTG Pactual. On August 8, the CVM approved the country’s first Solana ETF, which is provided by Brazilian asset management company QR Asset.

Character Voice

Analyst: Last quarter, institutional holdings of Bitcoin ETFs accounted for 24%, higher than 21.4% in the first quarter.

HC Wainwright analysts said that by the end of the second quarter of 2024, institutional holdings of U.S. spot Bitcoin ETFs rose to 24%. This is higher than 21.4% in the previous quarter, according to the latest 13-F filings and data compiled by Coinbase.

The growth came despite challenging market conditions, with total assets under management for these ETFs falling 13% month-over-month to $51.8 billion, driven by a drop in bitcoin prices and new institutional investors including Goldman Sachs, which holds $412 million in ETF shares, and Morgan Stanley, which holds $188 million.

Analyst: Funding rates show that TON, TIA, FTM, and ONDO may rebound

According to on-chain analyst Ali, who posted on the X platform, Toncoin (TON), Celestia (TIA), Fantom (FTM) and Ondo (ONDO) appear ready for a potential price rebound given the latest funding rate performance.

Bankless founder: Ethereum L1 execution hardware requirements should be the latest two generations of MacBook Pro

David Hoffman, founder of Bankless, wrote on X Platform that “Ethereum development has prioritized L2 execution for more than 2 years. This is at the expense of L1 execution. L1 execution lags behind Moore’s Law, while L2 receives undue growth and valuation subsidies from L1. Therefore, we should re-prioritize our work on L1 execution. I agree with @MaxResnick 1 that the L1 hardware requirement should be ‘latest 2nd generation Macbook Pro’, which is completely consistent with the social contract of individual stakers. This increases the accessibility of Ethereum L1 to 10x more users at a low cost. The argument against this is that the Ethereum ecosystem needs to be reorganized around less synchronous composability - growing L1 execution will reduce the urgency of solving this problem. Ethereum centered on rollup is the right roadmap - let’s face the problem.”

Bloomberg analyst: Gold is rising well, but still lags slightly behind Bitcoin, and the gap is narrowing rapidly

Eric Balchunas, ETF analyst at Bloomberg, wrote on the X platform that gold is finally being rewarded for its generous returns, with GLD up 23% in the past six months, surpassing stocks by $2 billion in the past six months. That said, it still lags behind Bitcoin since the launch of the ETF, but not by much, maybe 500 basis points, and the gap is narrowing rapidly. Value storage is taking effect.

Biden: Inflation has fallen sharply and is still falling

U.S. President Biden said inflation has fallen sharply and is still falling.

CryptoQuant analyst: Two on-chain indicators suggest that ETH may be in the late stages of a correction

CryptoQuant analyst Burak Kesmeci wrote: "Two different on-chain indicators may indicate that we are in the late stages of an ETH pullback. Current data shows that Ethereum buyers are gradually regaining strength. However, whether this is just a temporary rebound or the beginning of a strong rebound led by bulls, time will tell."

Alliance DAO founder: Prediction markets, Telegram are hot words for cryptocurrency startups

Qiao Wang, founder and core contributor of Alliance DAO, pointed out that recent hot words for cryptocurrency startups include prediction market and Telegram.