Today's news tips:
Former FTX Executive Ryan Salame Sentenced to 7.5 Years in Prison
Judge dismisses Debt Box case, orders SEC to pay $1.8 million in fees
US medical company Semler Scientific uses Bitcoin as its treasury reserve asset and has purchased 581 BTC
Sei Foundation: The second airdrop will distribute more than 27.42 million SEI to 43,000 addresses
BlackRock's IBIT's Bitcoin holdings surpass Grayscale's GBTC for the first time, becoming the largest Bitcoin spot ETF
DeFi platform Aperture Finance has raised $12 million and will launch APTR tokens on the 31st
CoinShares: Digital asset investment products saw a net inflow of $1.05 billion last week, the third consecutive week of inflows
Regulatory News
Former FTX Executive Ryan Salame Sentenced to 7.5 Years in Prison
According to Bloomberg, Ryan Salame, former CEO of FTX Bahamas subsidiary, was sentenced to seven and a half years in prison, the first person of SBFâs close ally to be sentenced after the collapse of FTX. Ryan Salame appeared in a Manhattan court on Tuesday after reaching a plea agreement with federal prosecutors last September.
The sentence was more than prosecutors had sought. The government said Salame, who pleaded guilty to violating campaign finance laws and operating an unlicensed money transmitting business, deserved five to seven years in prison, while the defense had argued for 18 months or less. The sentence could be a sign of how tough Judge Lewis A. Kaplan is on FTX executives.
Judge dismisses Debt Box case, orders SEC to pay $1.8 million in fees
According to Cointelegraph, U.S. federal judge Robert Shelby has ordered the U.S. Securities and Exchange Commission (SEC) to pay approximately $1.8 million in attorney and receivership fees related to the regulatorâs civil case against Debt Box. The case was dismissed on May 28, with the judge noting that the SEC showed âmalicious behaviorâ in its temporary injunction to freeze Debt Boxâs assets. The ruling is a major victory for Debt Box because it means the SEC cannot continue with the current case.
The Hong Kong government is communicating with the Securities and Futures Commission to process all virtual asset platform applications as soon as possible
According to the Hong Kong Wen Wei Po, as of today, the Hong Kong Securities and Futures Commission has issued licenses to two virtual asset trading platforms, 18 platforms are in the process of applying, and 11 other license applications have been returned, rejected or withdrawn. The government will maintain close communication with the SFC to allow it to process all platform applications as soon as possible, so that citizens and investors have more investment options. The SFC emphasized yesterday that the one-year transition period for virtual asset trading licenses will expire at the end of the month, and those who are not operating must end their business.
AI&NFT
OpenAI announces it has started training the next generation of cutting-edge models
According to Cailianshe, OpenAI announced that the board of directors has established a security committee responsible for controlling the direction of AI development. Under this seemingly ordinary announcement title, there is also a big news hidden - the long-rumored "GPT-5" has been launched. OpenAI stated in the announcement that it has started training the company's "next generation cutting-edge model" in recent days, and it is expected that this new system will reach the "next level of capability" leading to AGI (artificial general intelligence).
However, according to OpenAI's latest statement, the next generation of large models may not be available to the public until next year. AI models usually take months or even years to train, and the development team needs to make months of fine-tuning before releasing them to the public. Anna Makanju, vice president of global affairs at OpenAI, said in an interview on Tuesday that OpenAI's mission is to build general intelligence that can accomplish tasks at the "current human cognitive level." Anna emphasized that OpenAI's goal is to build general artificial intelligence, not super intelligence, which is several orders of magnitude smarter than humans on Earth.
Jan Leike, former head of OpenAI's safety team, will join competitor Anthropic
According to Bloomberg, Jan Leike, the former co-leader of OpenAI's security team, will join OpenAI's competitor Anthropic. His work at Anthropic is similar to his previous work at OpenAI, which is to study security issues related to the control of artificial intelligence models. In addition, OpenAI formed a new security team on Tuesday, with CEO Sam Altman as a member.
Binance and Cristiano Ronaldo Launch âForever Worldwide: The Road to Saudi Arabiaâ NFT Collection
According to the official announcement, Binance NFT Marketplace launches the "Forever Worldwide: The Road to Saudi Arabia" NFT collection - the fourth NFT series launched in collaboration with football legend Cristiano Ronaldo (C Ronaldo). This NFT collection will be sold exclusively on the Binance NFT platform. Event time: 16:00 on May 29, 2024 to 07:59 on July 16, 2024 (Eastern Time 8) Release time: 16:00 on May 29, 2024 to 07:59:59 on June 19, 2024 (Eastern Time 8) The collection includes seven NFTs, representing places of special significance in Cristiano Ronaldo's illustrious career: Madeira, Lisbon, Manchester, Madrid, Turin, Saudi Arabia, and Portugal. Users can earn more rewards and bring more utility from this collection based on the number of unique NFTs they own. Although the number of common NFTs for each location is different, their price is $35. The NFT series includes four different rarity levels of NFTs: Extremely Rare (SSR), Super Rare (SR), Rare (R), and Common (N). Each rarity level will bring more utility to the holders of the series of NFTs.
Project News
PayPal obtains New York State crypto trust license
According to Ledger Insights, the New York State Department of Financial Services (NYDFS) recently granted PayPal Digital a limited purpose trust license, which is usually held by digital asset custodians and stablecoin issuers. In August last year, PayPal launched the stablecoin PYUSD, issued by Paxos Trust Company. PayPal's acquisition of the trust license may be intended to take over the custody of PayPal customers' crypto assets and transfer the issuance of stablecoins to the internal.
The first token standard protocol ERC7660 for memecoin has passed the pre-approval of the Ethereum Foundation
According to the official Twitter account, the token protocol ERC7660 proposed by Benchmark Labs for memecoin has passed the pre-examination of the Ethereum Foundation. Its feature is that it adds a passive consensus period that does not rely on external triggers, that is, the token is automatically released linearly within the predefined consensus period. Benchmark also released the corresponding dashboard, automated deployment, Launchpad, and L0-based cross-chain bridge infrastructure for ERC7660 assets.
According to investigation, the first meme token $DICK based on the ERC7660 protocol is currently undergoing airdrop.
ENS Labs has proposed the ENS v2 upgrade to migrate services to the Layer 2 network
According to The Block, ENS Labs has proposed the ENS v2 upgrade to migrate services to the Layer 2 network. ENS Labs said that ENS v2 aims to enhance scalability and reduce gas fees by transferring core functions from the Ethereum mainnet to the Layer 2 chain. If the proposal is accepted, users will benefit from reduced transaction fees.
ENS Labs has not yet selected a specific stack or Layer 2 network for the migration. However, once the migration is complete, the network will become the new platform for users to interact with ENS. The upgrade also proposes a new "layered registration system" for more efficient management of .eth domain names, including the ability to manage subdomains and configure resolvers. ENS Labs explained that the release of Ethereum Improvement Proposal (EIP) 4844 was an important factor in promoting the ENS upgrade, which significantly reduced the cost of the Layer 2 network through blob transactions.
US medical company Semler Scientific uses Bitcoin as its treasury reserve asset and has purchased 581 BTC
According to PR Newswire, Semler Scientific, Inc. (Nasdaq: SMLR), an Oregon-based medical risk assessment company, announced today that its board of directors has adopted Bitcoin as its primary treasury reserve asset. In addition, Semler Scientific announced that it has purchased 581 Bitcoins for a total value of $40 million, including fees and expenses.
According to reports, Semler Scientific is a company that develops and sells technology products and services to help medical providers cope with chronic diseases.
Sei Foundation: The second airdrop will distribute more than 27.42 million SEI to 43,000 addresses
The Sei Foundation announced that it will conduct a second airdrop (Phase 2), distributing 27,421,200 SEI tokens to 43,052 unique addresses. This airdrop aims to reward active users since the launch of the Sei mainnet, including users who participate in protecting Sei through staking and liquidity staking, as well as collectors from the mainstream NFT community. Users need to connect their wallets and agree to the terms of use to see if they are eligible. The airdrop deadline is the start time of "Phase 3" of the launch of Sei v2, which is expected to take place in the next few weeks. Sei core contributors and related wallets will not participate in this airdrop.
Two BlackRock funds bought IBIT shares in the first quarter of this year
According to The Block, according to documents submitted to the U.S. Securities and Exchange Commission (SEC), two funds managed by BlackRock purchased the company's Bitcoin Spot Bitcoin ETF (IBIT) in the first quarter of this year. Among them, the BlackRock Strategic Income Opportunities Fund purchased nearly $3.6 million worth of IBIT shares, while the BlackRock Strategic Global Bond Fund purchased $486,000 worth of IBIT shares. At the same time, since its launch in January this year, the inflow of funds from BlackRock IBIT has exceeded that of other similar products.
Volatility Shares Leveraged Ethereum ETF to Start Trading on June 4
According to CoinDesk, Volatility Shares 2x Ethereum ETF (ETHU) will become the first leveraged Ethereum ETF in the United States. The company announced on its website that trading will begin on June 4. It is reported that ETHU plans to invest up to 25% of its assets in cash-settled Ethereum futures contracts traded on CME. In addition, the fund may invest in reverse repurchase agreements and stocks of other investment companies, but cannot invest directly in Ethereum.
UniSat: Will airdrop to users within 7 days after Pizza token claim ends
UniSat tweeted that the Pizza inscription claim page now displays a progress bar, and when the progress bar reaches 100%, the Pizza claim will automatically end. After the event ends, UniSat will count the results and airdrop to users within the next 7 days.
Starknet launches token incentive program worth approximately $25.2 million for outstanding projects
According to Cointelegraph, the Starknet Foundation announced that as part of its new Catalyst program, it will distribute Starknet tokens worth approximately $25.2 million to the 21 most outstanding projects in the ecosystem. Diego Oliva, CEO of the Starknet Foundation, said that the project has chosen to reward the top user-oriented protocols based on multiple factors, the weights of which are measured by the Starknet Foundation and independent third parties. The funding program aims to accelerate Starknet's innovation in Ethereum Layer2 expansion solutions based on zero-knowledge rollup technology. Funding will be divided into two categories, separating advanced projects from emerging projects on the network.
The top six best-performing projects eligible for funding include token launch platform Ekubo, DeFi protocol AVNU with gas-free transactions, on-chain strategy game Influence, on-chain gaming world Realms, DeFi protocol Nostra, an upcoming crypto super app, and decentralized perpetual futures exchange ZKX.
BlackRock's IBIT's Bitcoin holdings surpass Grayscale's GBTC for the first time, becoming the largest Bitcoin spot ETF
According to HODL15Capital, the number of bitcoins held by BlackRock's Bitcoin Spot ETF (IBIT) (288,670) has exceeded Grayscale's GBTC (287,450), becoming the largest Bitcoin spot ETF.
It is worth noting that Grayscale held 620,000 BTC at the time of the transition (January 10, 2024), accounting for more than 3% of the circulation, but after investors withdrew more than 330,000 BTC, it still refused to reduce its 1.5% fee to 0.2%, which is comparable to its peers, which calls its "differentiation" strategy into question.
Binance will delist CAKE/TUSD, DYDX/BNB, LAZIO/BTC spot trading pairs
Binance announced that it will remove and stop trading of the following spot trading pairs at 11:00 (ET) on May 31, 2024: CAKE/TUSD, DYDX/BNB, LAZIO/BTC.
Ripple donates another $25 million to crypto PAC Fairshake
According to CoinDesk, the crypto company Ripple has once again donated $25 million to the crypto political action committee Fairshake, bringing its total donation to the political action committee (PAC) to a staggering $50 million. It also brings the total funds of the PAC to more than $100 million before the election in November this year.
Glassnode: Long-term Bitcoin holders are back to hoarding for the first time since December
According to The Block, a report released today by market intelligence company Glassnode said: âBitcoin is just one step away from its all-time high and is still consolidating, with long-term holders starting to re-accumulate Bitcoin for the first time since December 2023. Analysts noted that selling pressure from long-term holders has cooled significantly over the past week, with investors returning to accumulation mode - suggesting that volatility is necessary to trigger a new round of selling. The report also points to market indicators that suggest buyer demand is picking up. Glassnode gave an example that last week, U.S.-based spot Bitcoin ETFs saw daily net inflows of $242 million. The analyst added: âConsidering the $32 million in organic daily selling pressure generated by miners since the halving, the buying pressure on the ETF is almost eight times higher, underscoring the size and scale of the ETFâs influence.â Notable Yes, Glassnode observed that Bitcoinâs price action over the past three months has been more modest than in previous bull cycles. Over the past three months, Bitcoin has recorded weekly, monthly and quarterly gains of more than 3.3%, 7.4% and 25.6% on just five of the past 90 days, according to Glassnode data.
Upbit will list Bounce Token (AUCTION), which has risen by more than 58% in one hour.
According to the official announcement, South Korean cryptocurrency exchange Upbit will launch Bounce Token (AUCTION) in the Korean won market, and trading will start at 18:50 local time on May 29.
Coingecko data shows that the price of AUCTION has risen rapidly and is now at $28.54, with a 1-hour increase of 58.4% and a 24-hour increase of 56.7%.
Financing News
Decentralized artificial intelligence project GaiaNet completes $10 million seed round of financing
According to The Block, the artificial intelligence infrastructure project GaiaNet has completed a $10 million seed round of financing for a decentralized network for generating artificial intelligence tools. EVM Capital, Mirana Ventures, Mantle EcoFund, Lex Sokolin of Generative Ventures, and Brian Johnson of Republic Capital participated in the investment. The newly raised funds will fund GaiaNet to develop educational tools for STEM students and support its work in seed-round financing of AI networks using distributed ledger technology. Matt Wright, CEO of GaiaNet, said: "With recent investments, we are able to further our commitment to redefining the boundaries of artificial intelligence to make it more accessible, resistant to data bias, collaborative, and privacy-centric."
According to reports, the funds will be used to support GaiaNet's development of an artificial intelligence chatbot "teaching assistant" designed for college students studying computer science and other STEM courses. The plan is part of the company's collaboration with the University of California, Berkeley to develop chatbots announced earlier this year. GaiaNet also plans to continue building a distributed network of edge nodes controlled by individuals and companies to host its AI models. GaiaNet said that in this way, the company aims to provide AI users with more private and secure tools than AI software developed by existing large technology companies.
DeFi platform Aperture Finance has raised $12 million and will launch APTR tokens on the 31st
AI-driven DeFi platform Aperture Finance announced that it has completed its Series A financing, bringing the total financing amount of all financing rounds to $12 million and the project valuation to $250 million. This round of financing was led by Skyland Ventures, Blockchain Founders Fund and Krypital Group, and participated by well-known investors such as Alchemy, SNZ, Stratified Capital, Tide, Cipholio, ViaBTC, CatcherVC and Double Peak.
Aperture Finance simplifies DeFi operations through an innovative intent-driven approach, allowing users to specify desired outcomes. The new funds will be used to support the development of Aperture's Intents infrastructure, expand its solver network, and enhance the user experience through the upcoming LLM integration. After a successful airdrop event with over 300,000 users participating, Aperture Finance will launch its $APTR token on Bybit on May 31, 2024. The total supply of APTR (ERC-20) tokens is 1 billion (1,000,000,000).
Important data
Mt. Gox gathers over 140,000 BTC in cold wallet address and transfers all BTC again
Arkham has marked the address starting with 1JbezD as the Mt. Gox cold wallet address. Mt. Gox's previous cold wallet address has gathered all BTC to this address today. Mt. Gox: 1JbezD was then further distributed, of which 4,000 BTC were sent to the address starting with 152wz8, and then transferred to the address starting with 1AsHPP; 21.946 BTC were sent to the address starting with 1LsC3V, and then transferred to the address starting with 1AsHPP; 71,025 BTC were sent to the address starting with 1LsC3V; 66,639 BTC were sent to the address starting with 16eAGJ, totaling 141,680 BTC. As of 18:50 Beijing time, all the bitcoins in the Mt. Gox: 1JbezD address have been transferred out, and the current balance is 0.
Update: Mt. Gox has evenly divided its Bitcoin holdings into three new addresses, each containing 47,230 BTC.
CoinShares: Last week, digital asset investment products had a net inflow of $1.05 billion, the third consecutive week of inflows
According to the latest weekly data from CoinShares, digital asset investment products saw a net inflow of $1.05 billion last week, the third consecutive week of inflows, and the cumulative inflow hit a record high of $14.9 billion so far this year. The recent price increase has also pushed the total amount of digital asset ETPs to $98.5 billion. Weekly ETP trading volume also increased by 28% to $13.6 billion. From a regional perspective, capital flows are mainly concentrated in the United States, with inflows of $1.03 billion, while Grayscale's current capital outflows have dropped significantly, with only $15 million outflows this week. Germany and Switzerland had inflows of $48 million and $30 million, respectively. Disappointingly, since the first launch of the Bitcoin spot ETF in Hong Kong (with inflows of $300 million in the first week), another $29 million outflows last week.
The majority of inflows went into Bitcoin ETPs, with $1.01 billion inflows last week, while short Bitcoin experienced another week of outflows totaling $4.3 million, suggesting that sentiment is generally turning positive despite the recent price rally. This is likely due to investors interpreting the FOMC minutes and recent macro data as mildly dovish.
Ethereum saw $36 million in inflows this week, the highest level since March, which may be an early reaction to the approval of an ETH ETF in the U.S. Solana also saw $8 million in inflows last week.
DWF Labs transfers 5 million USDT to the Meme coin LADYS deployment address
Etherscan data shows that 21 minutes ago, the address marked as "DWF Labs" on the chain transferred 500 USDT to the Meme coin LADYS deployment address. Spot On Chain analyzed that DWF Labs may have reached an over-the-counter transaction with the LADYS token developer.
Justin Sun deposited a total of $780 million in ETH into Lido and Kelp DAO in the past 7 hours
On-chain analyst Embers tweeted that Justin Sun deposited 146,110 ETH (about $561 million) into Lido and 52,315 ETH (about $201 million) into Kelp DAO through two addresses in the past 7 hours.
Head of Base Protocol: If Base's TVL exceeds $10 billion, I will shave my head
Jesse Pollak, head of the Base protocol, tweeted to confirm that if you sign up for their buildathon event, you will get a cool NFT. In addition, if Base's total locked volume (TVL) exceeds $10 billion, he will shave his head.
Meme coin TRUMP hit a record high of $15.45 at noon today, and its 24-hour increase is over 19%.
CoinGeck data shows that the price of Trump concept meme coin TRUMP broke through $15 at noon today, rising to $15.45, a record high. It has now fallen back to $14.36, a 1-hour drop of 2.7% and a 24-hour increase of 19.5%.
A trader currently holds $15.7 million worth of TRUMP, with a floating profit of $15.3 million
According to Spot On Chain monitoring, a trader bet on TRUMP and made a profit of 28 times. He spent 541,000 USDT to buy 1.079 million TRUMP a week after Trump announced his re-election in November last year; he firmly held TRUMP during the surge in April (if sold at the high point, the maximum profit was $11 million); after the price broke through the historical high again today, he held $15.7 million worth of TRUMP (estimated profit: $15.3 million).
A wallet bought TRUMP at a cost of $105,000 8 months ago, and the current floating profit exceeds $12 million
According to The Data Nerd, eight months ago, the wallet starting with 0x5b8 exchanged $105,000 for 932,000 TRUMP. Since November 19, 2023, he has sold 87,000 TRUMP worth $393,000. He also holds 845,000 TRUMP, equivalent to $12.42 million, and currently has an unrealized profit of $12.7 million.
The total net inflow of the US Bitcoin spot ETF yesterday was US$45.1432 million, continuing the net inflow for 11 consecutive days
According to SoSoValue data, yesterday (May 28, EST), the total net inflow of Bitcoin spot ETFs was $45.1432 million. Yesterday, Grayscale ETF GBTC had a net outflow of $105 million in a single day, and the current historical net outflow of GBTC is $17.746 billion. The Bitcoin spot ETF with the largest net inflow in a single day yesterday was BlackRock ETF IBIT, with a net inflow of $103 million in a single day, and the current total net inflow of IBIT is $16.456 billion. The second is Fidelity ETF FBTC, with a net inflow of $34.3451 million in a single day, and the current total net inflow of FBTC is $8.748 billion. As of press time, the total net asset value of the Bitcoin spot ETF was US$58.468 billion, the ETF net asset ratio (market value as a percentage of the total market value of Bitcoin) was 4.34%, and the historical cumulative net inflow has reached US$13.732 billion.
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