Headlines
▌Musk faces shareholder lawsuit because his acquisition of Twitter harmed Tesla's interests
A new shareholder derivative lawsuit alleges that Musk sold Tesla stock and diverted Tesla resources in the process of acquiring the social media platform then called Twitter (now renamed "X"), violating his obligations to Tesla shareholders. On Monday, the Rhode Island State Employees' Retirement System sued Musk, Tesla and Tesla board members, alleging that Musk's heavy investment in the Twitter acquisition distracted him from his duties at Tesla, created a conflict of interest and harmed Tesla's interests.
▌After Biden's son was found guilty, the related Meme coin Hunter Boden rose
The US political theme Meme coin market suffered a heavy blow, with the market value falling by more than 13% in the past 24 hours. In comparison, Bitcoin fell by about 4% and Ethereum fell by 5.4%. FreeTrump token (TRUMP) led the decline, falling by 45%; MAGA (TRUMP), the largest in market value, fell by 13%. The market fluctuates greatly, please do a good job of risk control.
A federal jury in the United States found Hunter Biden guilty on three federal felony gun charges, marking the first time that the son of a sitting president has been convicted. Following the announcement, the Hunter Boden token (HUNTERBODEN) on Solana rose more than 30% in 24 hours to $0.001514. Jeo Boden (BODEN) fell 5.5% to $0.1855.
Stocks also faced selling pressure as they awaited the monthly consumer price index report and a monetary policy announcement from the Federal Reserve. Expectations for a rate cut by the Fed have faded in recent weeks.
Quotes
As of press time, according to Coingecko data:
The latest transaction price of BTC is 67326.16 USD, with a daily change of -3.1 % ;
ETH's latest transaction price is $3498.66, with a daily change of -4.6 % ;
BNB's latest transaction price is $601.98, with a daily change of -3.6 % ;
SOL's latest trading price is $149.38, with a daily change of -6.0 % ;
DOGE's latest trading price is $0.1381, with a daily change of -4.7 % ;
XPR recently traded at $0.4803, with a daily change of -3.3 % .
policy
▌Biden is expected to choose Goldsmith Romero as the next FDIC chairman
The White House is preparing to pick Christy Goldsmith Romero, a top U.S. derivatives regulator, to lead an effort to reform the Federal Deposit Insurance Corporation, according to people familiar with the matter. No final decision has been made and an announcement could come as early as this week, the people said.
▌Opinion : The US crypto industry shows signs of recovery after the regulatory storm
Matter Labs CEO Alex Gluchowski said that the U.S. crypto industry has become a "powerful electoral force." Last year, the crypto market was sluggish due to the deteriorating regulatory environment, but the situation has improved this year, with projects such as Circle planning to go public in the United States.
Despite the regulatory challenges from the Securities and Exchange Commission, Blockworks co-founder Jason Yanowitz pointed out that the number of conference speakers has rebounded this year, indicating that industry confidence has recovered. Bill Hughes, chief legal officer of Consensys, believes that regulatory uncertainty inhibits innovation and gives large companies a competitive advantage. Joshua Riezeman, deputy general counsel of GCR, warned that the United States needs to clarify the regulatory framework, otherwise it will lose more crypto companies.
Despite the challenges, Gluchowski emphasized the growing influence of the U.S. crypto community, as exemplified by the bipartisan FIT21 bill. Hughes believes that the U.S. has advantages in capital and talent and can still lead the crypto space.
▌EU Security Innovation Center: Crypto mixers, privacy coins and L2 technology make law enforcement tracking complicated
According to a report from the EU Innovation Hub for Internal Security, a network of labs that supports internal security organizations in the 27 EU countries, privacy coins, mixers, and L2 platforms could make it difficult for law enforcement agencies to track funds.
The report, published by crime-fighting agencies such as Europol and Eurojust and the European Commission, among others, tells law enforcement agencies they need to be prepared to encounter such tools in their investigations. “Mixer Tornado.cash has also been using zero-knowledge proofs to allow users to withdraw funds from the mixer without revealing their original deposit amount. This significantly increases the difficulty for law enforcement to trace the source of (illegal) cryptocurrencies,” the report said.
▌Judge approves $2.4 million settlement between sports star and Voyager
A Florida judge has preliminarily approved a $2.4 million settlement between Robert Gronkowski, Victor Oladipo and Landon Cassill and crypto company Voyager Digital. The three are facing a class-action lawsuit for promoting the company, with Gronkowski paying $1.9 million. The settlement does not include former Mavericks owner Mark Cuban. Meanwhile, Voyager is still dealing with other legal issues, including funding claims with FTX and Three Arrows Capital.
Blockchain Applications
▌ Nansen: Provided some data on specific wallet categories to Matter Labs
Nansen posted a clarification on the X platform, aiming to clear up some confusion in the community about the zkSync airdrop. Nansen provided Matter Labs with some data on specific wallet categories, such as huge users and known scammers, but did not take anti-sybil measures or make recommendations on the airdrop allocation itself. If you see someone tweeting something that distorts the facts, they are spreading false information. Congratulations to all ZK holders, and Nansen will provide support to all other participants in the zkSync ecosystem.
▌ LayerZero: Symbiotic will be integrated into the LayerZero DVN framework
LayerZero Labs announced on the X platform that Symbiotic will be available on LayerZero. Through Ethena Labs, Symbiotic will be integrated into the LayerZero DVN framework, enabling users to stake ENA to secure cross-chain transfers of Ethena assets.
▌ ENS ranks first in the NFT market with more than $4.27 million in sales in a single day
According to data platform CryptoSlam, Ethereum Name Service (ENS) ranked first in the NFT market with sales of more than $4.27 million. Other collections on the list include PIZZA BRC-20 NFT (sales of $2.18 million) and Guild of Guardians Avatars (sales of $1.24 million).
The Ethereum blockchain had a total of $8.45 million in sales on Monday, while the Bitcoin blockchain had $4.11 million. The Solana and Polygon blockchains had sales of $2.68 million and $2.44 million, respectively.
▌ Aave community proposes to launch the third phase of Aave Liquidity Committee financing
The Aave community proposed to initiate the third phase of Aave Liquidity Committee (ALC) financing, proposing to provide 600,000 GHO funds to the Aave Liquidity Committee to continue supporting GHO's liquidity and DeFi integration on Ethereum in the next three months.
▌ Biconomy launches Biconomy DAN, a delegated authorization network
Web3 developer and transaction infrastructure platform Biconomy announced the launch of the Biconomy DAN delegation network in an article on the X platform. The network supports securely entrusting artificial intelligence agents to authorize transactions on behalf of users and only within the scope of user-defined permissions.
Cryptocurrency
DACFP founder: American financial advisors are beginning to accept Bitcoin
Ric Edelman, founder of the Digital Asset Council of Financial Professionals (DACFP), said that U.S. financial advisors are now more willing to include Bitcoin in their portfolios because they see data showing improved risk-adjusted returns.
Ric Edelman said that in the past three months, the number of financial advisors willing to include BTC in their investment portfolios in the next year has increased by 80%, thanks to the listing of the spot Bitcoin ETF in January and the participation of asset management giant BlackRock.
BBVA , Spain’s second-largest bank, launches cryptocurrency custody service in Turkey
Garanti BBVA, the Turkish subsidiary of BBVA, Spain’s second-largest bank with $700 billion in assets, has begun offering crypto custody services. “Garanti BBVA Digital Assets now allows clients to transfer and store BTC, ETH and USDC assets on its mobile platform Garanti BBVA Crypto,” the bank said in a statement.
Garanti BBVA Executive Vice President Çağrı Süzer said the pilot study of the new service was a success. He said: "The beta version of the Garanti BBVA Crypto application has previously provided this service to some customers, and now it is available to all customers. Although we initially provide services for BTC, ETH and USDC, we will continue to grow in the future by increasing the diversity of assets and service infrastructure."
▌Bloomberg ETF analyst: Everyone agrees that tokenization is important
Eric Balchunas, Bloomberg ETF analyst, said on X platform, "Had an enlightening discussion with 21Shares co-founder Ophelia Snyder, digital asset analyst Matthew Sigel and Jason Xavier at the Proof of Talk inside the Louvre today. All agreed that tokenization is important, but may not be a substitute for ETFs. Sigel predicted that the Bitcoin ETF will exceed $500 billion in the U.S. in 5 years, and Snyder said that the world may exceed this number. They all thought that I may underestimate the demand for the Ethereum ETF, and they planned to position it as a "production technology stock" and "the ultimate app store", which is very different from the propaganda of Bitcoin."
▌ Marathon Digital sold 1,200 BTC yesterday
CryptoQuant CEO Ki Young Ju wrote that Bitcoin mining company Marathon Digital sold 1,200 BTC yesterday, possibly to cover expenses, setting its highest daily OTC trading volume since the end of March.
▌ Core: Launching the BTCfi Summer Hackathon
Core is a Layer-1 blockchain project that is compatible with Ethereum and relies on Bitcoin for its security setup. According to the team, “BTCfi Summer Hackathon is being launched, a 12-week event to stimulate innovation in the Bitcoin economy. The hackathon kicks off on June 6th and the winners will be announced on August 19th.”
Important economic developments
▌Nasdaq and S&P 500 both hit record closing highs
The three major U.S. stock indexes closed mixed, with the Nasdaq up 0.88%, the S&P 500 up 0.27%, and the Dow down 0.31%. Among them, the Nasdaq and the S&P 500 both hit record closing highs. Apple surged more than 7%, setting a new record high, the largest single-day gain since November 2022, with a total market value of $3.18 trillion. Microsoft rose more than 1%, Meta, Netflix, Google, and Amazon rose slightly; Tesla fell more than 1%, and Nvidia fell slightly. WSB concept hot stocks rose sharply, GameStop rose more than 22%, and AMC Cinemas rose more than 10%.
▌The probability of the Federal Reserve keeping interest rates unchanged this week is 99.4%
According to CME's "Fed Watch", the probability of the Fed keeping interest rates unchanged in June is 99.4%, and the probability of a 25 basis point rate cut is 0.6%. The probability of the Fed keeping interest rates unchanged by August is 91.1%, the probability of a cumulative 25 basis point rate cut is 8.8%, and the probability of a cumulative 50 basis point rate cut is 0.1%.
Golden Encyclopedia
Validiums is a Layer 2 scaling solution that aims to optimize Ethereum's performance by processing transactions off-chain. Validiums is primarily responsible for reducing the load on the Ethereum blockchain by processing most transactions off-chain and only sending concise proofs to the mainnet for verification. The off-chain transaction processing method can significantly increase throughput and reduce mainnet congestion, resulting in a more efficient and economical Ethereum experience.
Disclaimer: As a blockchain information platform, Jinse Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness.
