Trump campaign accepts cryptocurrency donations, including Dogecoin and Shiba Inucoin
According to The Block, US Republican presidential candidate Donald Trump announced that he will accept political donations in the form of cryptocurrency. According to Trump's website, his 2024 campaign will accept cryptocurrencies such as Bitcoin, Ethereum, Solana, Dogecoin and Shiba Inucoin.
Insider: US SEC is inclined to approve Ethereum spot ETF
According to Barron's, citing people familiar with the matter, SEC staff told exchanges on Monday that the agency is "inclined" to approve Ethereum spot ETFs. The SEC has provided opinions on these applications, and if they are resolved in a timely manner, they could be approved as early as this week. Earlier, Bloomberg ETF analysts said that given the change in political winds, the U.S. government's position on Ethereum spot ETFs may change drastically.
Several U.S. House Democrats petition colleagues to join the camp supporting crypto bill FIT21
As the U.S. House of Representatives is set to vote on Wednesday, which is expected to pass comprehensive cryptocurrency legislation with bipartisan support — a major milestone for the industry — some Democrats are urging their colleagues to vote in favor, CoinDesk reported. At least eight House Democrats have publicly supported the 21st Century Financial Innovation and Technology Act (FIT21), and they may recruit more supporters, according to a memo shared by congressional aides. The bill is currently scheduled for full discussion and voting later on Wednesday. "As Democrats, we believe this is an important opportunity to regulate the digital asset market," the eight lawmakers wrote in an internal memo on Tuesday, asking for their colleagues' support. "This should not be a partisan issue," said lawmakers including Reps. Wiley Nickel (D-North Carolina), Yadira Caraveo (D-Colorado), Jim Himes (D-Connecticut), Jasmine Crockett (D-Texas), Ritchie Torres (D-New York), Darren Soto (D-Florida), Josh Gottheimer (D-New Jersey) and Don Davis (D-North Carolina). But despite bipartisan support in the House, the effort further highlights the lack of similar progress in the Senate, where cryptocurrency market structure legislation is likely to fail. To that end, senior staff on the House Financial Services and Agriculture Committees working on the bill said Tuesday that they are having increasing discussions with their Senate counterparts but are also willing to consider the bill as a possible additional legislative vehicle as the current Congress draws to a close.
Standard Chartered Bank executive: Bitcoin expected to hit a record high over the weekend
According to The Block, Geoff Kendrick, head of foreign exchange research and digital asset research at Standard Chartered Bank, said that Bitcoin is expected to hit a record high over the weekend, reaching the $73,798 level on March 14. Kendrick added that the optimism surrounding the possible approval of the spot Ethereum ETF this week made him more confident in Bitcoin's price target, that is, Bitcoin will reach $150,000 by the end of 2024 and $200,000 by the end of 2025. Kendrick also pointed out that the situation in recent days has been more constructive, and the inflow of funds into the spot Bitcoin ETF has increased, bringing its total to a record high of $12.9 billion.
According to the official governance website, the Gala community has initiated a governance proposal for "temporary GALA token contract upgrade and token destruction". The proposal states that in view of the recent security incidents that have led to the unauthorized minting and sale of approximately 600 million GALA tokens and the permanent lock-up of approximately 4.4 billion tokens, this proposal aims to formally destroy these approximately 4.4 billion GALA tokens, as well as approximately 600 million GALA tokens from the GALA treasury to ensure the stability and sustainability of the ecosystem. Due to the upgradeable nature of the GALA contract, the proposed changes will not require redemption or re-listing on exchanges, and can be executed without affecting all GALA token users. This move will be achieved by upgrading the GALA contract, including the explicit and irreversible destruction of the same number of unauthorized tokens or tokens illegally obtained as determined by law enforcement, and enhancing the security features of the contract to prevent future unauthorized access or breach of contract.
Earlier news, the Web3 game platform Gala Games was hacked yesterday, and then the Gala Games attackers returned about US$22.5 million worth of ETH.
According to the official blog, the crypto exchage Coinbase announced that it has launched a technology anti-fraud alliance with industry leaders such as Match Group (the parent company of Tinder and Hinge), Meta, Kraken, Ripple, Gemini and the Global Anti-Fraud Organization (GASO) to combat online fraud and financial scams. The collaboration aims to protect and educate users, emphasizing that fraud is a problem within the scope of technology, not limited to social media, cryptocurrency or finance. Coinbase said: "By sharing knowledge and best practices, we strive to create a safer digital environment."
ConsenSys CEO: Ethereum spot ETF may cause Ethereum supply shortage
According to DL News, Joe Lubin, co-founder of Ethereum and founder and CEO of crypto infrastructure company ConsenSys, said that if the Ethereum spot ETF is approved, the resulting "flood of demand" for Ethereum could lead to supply constraints. Lubin explained that institutions that have been exposed to Bitcoin through the newly launched Bitcoin ETF "most likely want to diversify their investments into the second approved ETF," and the natural, pent-up demand for Ethereum through ETFs will be considerable, but the supply to meet this demand will be less than when the Bitcoin spot ETF was approved in January this year. In the case of Bitcoin, authorized participants (i.e., companies that buy Bitcoin on behalf of the ETF every day) can simply buy idle Bitcoin on exchanges or through over-the-counter counterparties. But on-chain data shows that more than 27% of the total Ethereum supply has been pledged on the Ethereum network. These Ethereums are locked in contracts to earn returns for their owners. "A lot of Ethereum is used in core protocols, decentralized financial systems, or DAOs," Lubin said. In other words, not only is Ethereum's market value lower than Bitcoin's - which makes Ethereum's price more sensitive to capital inflows - but a large part of its supply is not available for ETFs. Additionally, new activity on Ethereum will cause the network to destroy a large portion of the existing ether supply over time, further limiting supply.
Six Ethereum Spot ETF Applicants Have Submitted Amended 19b-4 Documents
According to Watcher.Guru, six spot Ethereum ETF applicants have submitted revised 19b-4 documents, including VanEck, Fidelity, Franklin, Ark Invest, Grayscale, and Invesco Galaxy.
Earlier today, it was reported that Grayscale's latest Ethereum spot ETF application had deleted the wording of staking, and Fidelity excluded the possibility of receiving staking rewards in its S-1 registration statement. Later, it was reported that CoinShares and Valkyrie would not apply for Ethereum spot ETF ; financial lawyer Scott Johnsson said that Ethereum spot ETF may take time in the S-1 application approval process, and the approval of Bitcoin spot S-1 documents took 4 months .
Jupiter, the trading aggregator of Solana ecosystem, announced on the X platform that it is launching the "Giant Unified Market (GUM)" plan, which aims to bring all assets such as Meme coins, real-world assets, stocks, and foreign exchange assets to the Solana chain and index them on Jupiter, allowing users to trade all assets in a single market. In order to realize this vision on Solana, Jupiter launched the GUM Alliance composed of top asset, liquidity and distribution teams, and will work with these partners in the next few months to complete three main tasks: 1. Introduce more assets to Solana; 2. Create liquid markets for these assets; 3. Integrate these markets into Jupiter and promote their adoption.
zkSync plans to conduct a TGE this week and an airdrop in mid-June
According to The Block, citing sources, zkSync plans to conduct a token generation (TGE) this week and airdrop in mid-June (around June 13). The source said that zkSync's token issuance (including airdrop) will be carried out within 30 days after the TGE, and the total supply of the token is 21 billion. zkSync hopes to use ZK as its token, but because the Polyhedra Network has already used the code, some problems have arisen. The source said that zkSync can still use ZK and emphasized that Binance has not yet listed Polyhedra's token.
DWF Labs announces that it has purchased 25 million GALA tokens on the open market
DWF Labs tweeted that they have taken active measures to ease the market selling pressure and purchased 25 million GALA tokens on the open market. According to Spot On Chain monitoring, DWF Labs has just received 28.3 million GALA (worth $1.1 million) from Binance. Currently, they hold a total of 88.3 million GALA, making it the fifth largest holding in their portfolio.
Solana wallet Phantom acquires a16z-backed wallet-as-a-service platform Bitski
According to The Block, Solana wallet Phantom has acquired Bitski, a wallet-as-a-service platform backed by well-known investors such as Andreessen Horowitz (a16z) and Galaxy Digital. As part of the acquisition of Bitski, Phantom plans to introduce embedded wallets to Solana to provide an easy entry experience similar to web2. Users will soon be able to choose to register and log in to Phantom using only their email address. Phantom co-founder and CEO Brandon Millman said that Bitski's team (including its co-founders) will join Phantom and expand its current team of more than 80 people. Bitski has currently raised at least $25.5 million in funds, with investors including a16z, Galaxy Digital, Coinbase Ventures, Winklevoss Capital, Kindred Ventures, American billionaire rapper Shawn "Jay-Z" Carter and former American professional tennis player Serena Williams. Phantom has raised a total of $118 million in funds to date, with investors including a16z, Paradigm, Solana Ventures, Variant and Alliance.
Catizen and Notcoin destroy 5 million $NOT tokens to strengthen the ecosystem
Catizen achieved revenue of over 50 million $NOT in 3 days after supporting $NOT payments. In response, Catizen and Notcoin jointly announced the destruction of 10% of this part of $NOT revenue. This burn significantly reduces the circulating supply of $NOT and is a bold and strategic move to enhance the value and market dynamics of the token. Since Catizen integrated $NOT for top-ups, both communities have benefited from enhanced utility and exclusive offers, and this token burn is a strong proof of the close cooperation and shared vision of both parties.
According to The Block, the cross-chain interoperability protocol deBridge announced the launch of its governance token DBR. DBR is based on the Solana chain, with a total supply of 10 billion. The token distribution plan includes allocating 20% to community launch and its community, with a circulating supply of 1.8 billion DBR at launch. Of the remaining supply, 26% is allocated for ecosystem support, 20% to core contributors, and 17% to strategic partners. deBridge aims to decentralize governance power to the community through DAO. DBR token holders can stake their tokens to participate in DAO governance voting to determine protocol parameters, including election activities.
Binance Labs announces investment in derivatives trading platform Aevo
Binance Labs announced its investment in Aevo, a high-performance Layer 2 (L2) platform built on the OP Stack that supports perpetual contracts, pre-launch futures, and options trading, with a single margin account on the same platform. Aevo is a decentralized derivatives trading platform focused on options and perpetual contracts. Its technical architecture acts as an off-chain order book with on-chain settlement on Ethereum and uses Celestia as a high-throughput data availability layer for improved scalability. Backed by Paradigm, Dragonfly, and Coinbase Ventures, Aevo is a rebrand of the previous DeFi options protocol Ribbon Finance and voted in Ribbon Finance's RGP-33 governance proposal. So far this year, Aevo has exceeded $80 billion in derivatives trading volume, generated more than $30 million in fees, and averaged 50,000 monthly active users (MAU) on the platform. As part of its future roadmap, Aevo will launch treasury strategies, yield products, and Aevo staking. It will allow developers to deploy their dApps on Aevo L2 without permission.
Web3 social media platform Farcaster completes $150 million financing, led by Paradigm
According to The Block, Web3 social media platform Farcaster has completed a $150 million financing, led by Paradigm, with participation from a16z crypto, Haun Ventures, USV, Variant, Standard Crypto, etc. The new funds will be used to increase daily active users and recruit more engineers. Farcaster is a decentralized social media platform based on Optimism, which not only enables users to better control their own data, but also allows developers to enhance the platform through mini-applications. According to previous news, in March this year, people familiar with the matter revealed that Farcaster developer Merkle Manufactory is about to complete a round of financing led by Paradigm, with a valuation of approximately $1 billion. Farcaster completed a $30 million financing in July 2022, led by a16z.
Data: BlackRock IBIT funds had a net inflow of US$291 million on May 21
According to HODL15Capital monitoring, on May 21, BlackRock IBIT had a net inflow of US$291 million, Bitwise BITB had a net outflow of US$4.2 million, and Grayscale GBTC had no inflow/outflow.
ETH price breaks through $3,800, hitting a two-month high
OKX market data shows that the price of ETH has exceeded $3,800, reaching a new high in more than two months. ETH is currently trading at $3,810 per coin, up 22.26% on the day.
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