Today's news tips:
Mt. Gox Trustee Announces BTC and BCH Repayment to Begin in Early July
Berachain’s Liquidity Staking Protocol Infrared Finance Receives Strategic Investment from Binance Labs
Bitcoin briefly fell below $61,000, and Ethereum fell below $3,300
CoinShares: Net outflows from digital asset investment products reached $584 million last week
Upbit will launch Blast (BLAST) on June 26
Metaplanet board approves 1 billion yen purchase of Bitcoin
Hunan Hanshou Public Security Bureau reminds STFIL Protocol’s pledge and lending users to promptly cooperate and report the situation
The U.S. Government Currently Holds $13.9 Billion in Bitcoin and $187 Million in Ethereum
Regulatory News
Hunan Hanshou Public Security Bureau reminds STFIL Protocol’s pledge and lending users to promptly cooperate and report the situation
According to the official announcement of STFIL Protocol, the LSD protocol STFIL Protocol of Filecoin ecosystem was involved in the "3.28" illegal use of information network case. The official website of STFIL Protocol has been investigated by the Hanshou County Public Security Bureau of Hunan Province, and a batch of FIL virtual coins involved in the case have been seized according to law. The announcement requires the pledge users and borrowers of the website to bring valid identity documents and relevant records to the Hanshou County Public Security Bureau to report the situation and provide evidence materials before July 10, 2024. The virtual coins that fail to report the situation after the deadline will be disposed of according to law.
The European Commission has preliminarily ruled that Apple has violated regulations and launched a new round of investigation into it
The European Commission has preliminarily ruled that Apple's online app store rules violate the EU Digital Markets Act. The European Commission believes that Apple's rules hinder application developers from freely guiding consumers to obtain discounts and content through other channels. On the same day, the European Commission also launched a new non-compliance investigation against Apple. According to the Digital Markets Act, if a violation occurs, the European Commission can impose a fine on Apple, with the fine amount up to 10% of the company's total global turnover.
Project News
CoinStats CEO: The total amount of stolen funds is about 2 million US dollars, of which about 800,000 US dollars came from two users
According to CoinStats CEO Narek Gevorgyan’s update on the X platform, the total amount of funds stolen in the recent security incident at CoinStats was approximately $2 million. Of this, approximately $800,000 came from two users who imported their seed phrases into the CoinStats wallet.
Doubler announces DBR token economics: 10% airdropped to the community, 40% used for liquidity rewards
Doubler, a liquidity aggregation investment strategy protocol, has released the economics of its native token DBR. The total supply of DBR tokens is 100 million, which are allocated as follows: 40% for liquidity rewards, 15% for the ecosystem fund, 15% for investors, 10% for the community to reward early participants and supporters of the testnet ITO phase, 10% for core contributors, 5% for advisors, and 5% for marketing and liquidity management.
Farcana wallet of blockchain game studio was attacked, and FAR price plummeted by 53.6%
A $FAR wallet of Farcana, a blockchain game studio based in the UAE, has been hacked. The team is working hard to resolve the vulnerability and ensure the safety of user assets. Until the issue is resolved, $FAR deposits on all centralized exchanges (CEX) have been frozen. Please avoid any transactions involving $FAR. At the same time, affected by this, the price of $FAR plummeted by 53.6%.
Light Protocol and Helius Labs jointly launch “ZK Compression” technology to further expand Solana applications
According to The Block, Light Protocol and Helius Labs jointly launched “ZK Compression” technology to further expand applications on the Solana network. The technology significantly reduces storage costs by storing data in Solana's low-cost ledger space instead of more expensive account space through state compression. For example, reducing the storage fee for an account with 100 compressed tokens from 0.2 SOL to 0.000004 SOL. Solana co-founder Anatoly Yakovenko said that this solution does not require governance tokens or external serializers, and is a Layer 2 model that does not require a security committee.
Aave DAO has passed support for deploying the Aave protocol on ZKsync and will enter the formal voting stage
According to The Block, Aave DAO recently voted unanimously in favor of deploying the Aave protocol on ZKsync, marking the official voting stage for its deployment on the Ethereum Layer 2 network. The AFRC proposal (i.e., Aave's formal draft for comments) was written by the Aave Chan Initiative and passed with 662,000 votes in favor, and will enter the AIP on-chain vote for final approval. Aave previously received 8.3 million ZK tokens from the ZKsync airdrop, the highest among all "native projects."
Metaplanet board approves 1 billion yen purchase of Bitcoin
Metaplanet Inc., a Japanese listed company, announced that its board of directors has approved the use of 1 billion yen (about 7 million US dollars) to purchase Bitcoin. The funds will come from the proceeds of the company's second ordinary bond (secured) issuance. According to Metaplanet's announcement today, these bonds have an annual interest rate of 0.5%, are expected to be paid on June 26, 2024, and mature on June 25, 2025. Metaplanet plans to hold these bitcoins for a long time, or use them for operations and other purposes where appropriate, and record them as current assets on the balance sheet.
Cathie Wood: Will vote for Trump in presidential election on economic grounds
According to The Block, Ark Invest CEO Cathie Wood said at a recent Las Vegas conference that she plans to vote for Donald Trump in the 2024 U.S. presidential election. Wood said she chose to support Trump based on economic reasons and she believed that Trump could boost U.S. economic growth. Wood pointed out that Trump's economic performance in the first three years of his presidency (before the epidemic) was one of the best in U.S. history.
In addition, Trump has recently publicly supported cryptocurrencies and accepted campaign donations in the form of cryptocurrencies. Last week, the Winklevoss brothers, founders of Gemini, donated $2 million worth of Bitcoin to Trump's campaign team.
It is reported that the US presidential televised debate between Joe Biden and Donald Trump will take place on June 27.
Mt. Gox Trustee Announces BTC and BCH Repayment to Begin in Early July
According to Tree News, the Mt. Gox trustee announced that it will begin repayments in Bitcoin and Bitcoin Cash. According to official documents, the Mt. Gox trustee announced that it will begin repayments in Bitcoin ($BTC) and Bitcoin Cash ($BCH) in early July 2024. The trustee is ready to initiate repayment procedures with cryptocurrency exchanges in accordance with the requirements of the rehabilitation plan. The trustee stated that it has completed the confirmation and exchange of required information with the relevant exchanges to ensure the security and compliance of the repayments. The specific repayments will be carried out according to the order in which the information exchange of each exchange is completed.
Upbit will list Blast (BLAST)
According to an official announcement, South Korean cryptocurrency exchange Upbit announced that it will launch Blast (BLAST) in the Korean won, Bitcoin, and USDT markets. The trading start time is expected to be 23:00 local time on June 26.
Financing News
Berachain’s Liquidity Staking Protocol Infrared Finance Receives Strategic Investment from Binance Labs
According to The Block, Berachain's liquidity pledge protocol Infrared Finance has raised an undisclosed amount of funds from Binance Labs. Raito Bear, the anonymous co-founder and CEO of Infrared, revealed that Binance Labs invested in Infrared as the only investor in a strategic financing round earlier this month. The structure of this strategic financing round was a simple agreement for future tokens (SAFT). Bear declined to comment on the total amount of funds raised so far and the valuation. Earlier in January, InfraredFinance completed a $2.5 million seed round of financing, led by Synergis.
Important data
The U.S. Government Currently Holds $13.9 Billion in Bitcoin and $187 Million in Ethereum
Arkham data shows that the US government currently holds 217,486 bitcoins, worth about $13.9 billion, and 53,900 Ethereum, worth about $187 million. In addition, the German government holds 47,179 bitcoins, worth more than $3 billion. The British government holds 61,245 bitcoins, worth about $3.9 billion.
The number of ETH destroyed yesterday was only 266 ETH, a new low since the EIP-1559 upgrade
Ethereum gas fees are currently hovering between 2 and 5 gwei, one of the lowest levels to date. The drop in network fees has led to a decrease in the amount of ETH destroyed. On Sunday, the amount of ETH destroyed was only 266.06 ETH, a new low since the EIP-1559 upgrade.
According to Ultrasound.money, Ethereum's supply has already seen inflation over the past week, with a supply growth rate of 0.56%, which is the opposite of its previous deflationary nature. If activity picks up and more ETH is destroyed than issued, it will fall into deflation again.
CoinShares: Net outflows from digital asset investment products reached $584 million last week
PANews reported on June 24 that according to the latest weekly report data from CoinShares, last week was the second consecutive week of capital outflows from digital asset investment products, totaling US$584 million, a total decrease of US$1.2 billion. This may be a reaction to investor pessimism over the prospect of the Federal Reserve cutting interest rates this year. Last week, global ETP trading volume also hit a record low since the U.S. ETF was launched in January, with only $6.9 billion traded in a week. In terms of geographical distribution, capital outflows from the U.S. market were the most significant, reaching US$475 million; the Canadian market also saw capital outflows of US$109 million. The German and Hong Kong markets saw outflows of US$24 million and US$19 million respectively. However, the Swiss and Brazilian markets bucked the trend, seeing inflows of $39 million and $48.5 million respectively. Among digital assets, Bitcoin became the main focus of capital outflows, with outflows amounting to $630 million. It is worth noting that despite the bearish market sentiment, Bitcoin short positions did not increase as a result, but there was an outflow of $1.2 million. Ethereum was not immune to the impact of market sentiment, with $58 million in capital outflows. However, among a range of other coins, Solana, Litecoin and Polygon were market highlights after receiving inflows of $27 million, $13 million and $10 million respectively following recent price drops. The multi-asset product saw $98 million in inflows, suggesting investors viewed weakness in the altcoin market as a buying opportunity.
Bitcoin briefly fell below $61,000, and Ethereum fell below $3,300
OKX market data showed that Bitcoin briefly fell below $61,000, once hitting $60,609, and is now trading at $61,132.9, a 4.65% drop on the day. In addition, Ethereum fell below $3,300, now trading at $3,291.18, a 5.21% drop on the day.
Later news came out that in the past hour, the total network contract liquidation was US$106 million, mainly due to long orders.
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