Top 10 News of the Week
1. The US announced that the annual rate of unadjusted CPI in May was 3.3%. link
The U.S. announced that the unadjusted CPI annual rate in May was 3.3%, which was lower than market expectations. The unadjusted core CPI annual rate in May was 3.4%, which was lower than market expectations. The expected rate was 3.5%, which was lower than market expectations. The previous value was 3.6%, which was the lowest level since April 2021.
In addition, the Federal Reserve announced that it would keep interest rates unchanged at 5.25–5.5%, in line with market expectations. According to the dot plot shared by Nick Timiraos, four Fed officials believe that there will be no rate cuts this year, up from two officials in the March forecast. Seven officials believe there will be one rate cut, while eight officials believe there will be two rate cuts. This means that a slight majority of officials believe that there will be at most one rate cut this year as a basic expectation.
2. Biden campaign is in talks to accept cryptocurrency donationslink
U.S. President Biden's campaign is discussing with cryptocurrency industry players about accepting cryptocurrency donations through Coinbase Commerce. Biden's team hopes to attract voters who are concerned about cryptocurrency and enrich campaign funds. A person familiar with the matter said: "People in the (Biden) core circle specifically told the Biden team that if you remain silent on cryptocurrency issues and don't keep up with the speed, you may lose the election. At present, the Biden camp's negotiations to accept cryptocurrency donations are still exploratory."
3. Trump: I hope all remaining Bitcoins are made in the United Stateslink
Trump campaigned on his media outlet Truth Posts and said that Bitcoin mining may be our last line of defense against CBDC; Biden is full of hatred for Bitcoin; we hope that all remaining Bitcoins are made in the United States, which will help us dominate in energy.
Earlier, Bitcoin Magazine released photos showing that Donald Trump met with the CEO of Bitcoin Magazine and representatives of American Bitcoin miners, and pledged to support the crypto mining industry. In addition, Donald Trump also told Bitcoin mining company CleanSpark that he liked what it was building. In recent months, Donald Trump's interest in cryptocurrencies has clearly increased. He has publicly expressed support for cryptocurrencies many times, becoming the first presidential candidate of a major party to accept cryptocurrency donations.
4. US SEC Chairman: ETH spot ETF S-1 approval may be completed before the end of this summerlink
According to Fox reporter Eleanor Terrett, Gary Gensler, chairman of the U.S. SEC, has just told Senator Bill Hagerty that he expects the approval of the ETH spot ETF S-1 to be completed by the end of this summer. Generally speaking, summer in the United States refers to June to August. Gary also mentioned that DeFi faces challenges in enforcing anti-money laundering laws due to the permissionless nature of blockchain.
When asked directly whether Ethereum (ETH) is a commodity, SEC Chairman Gary did not answer yes or no, but maintained an indecisive stance on the asset. During the same hearing, when asked whether Ethereum is a commodity, Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam replied: Yes.
U.S. Senator Bill Hagerty said he encouraged the SEC to provide clear guidance on cryptocurrencies, saying "the industry needs to have a proper ecosystem in place...so that we don't push it overseas." SEC Chairman Gary countered that breaking the law and not liking the law are two different things from a lack of clarity.
5. Ethereum founder Vitalik offers suggestions on how memecoin continues to dominate the narrative link
In response to the phenomenon that memecoin continues to dominate the narrative, Ethereum founder Vitalik listed several directions that he believes can expand and improve the daily applications of cryptocurrencies, including zk reputation/identity/credentials, p2p cross-border payments (lower fees and user experience rapidly improving in this cycle), decentralized social networking, prediction markets (actually available in this cycle), privacy, enterprise applications achieved through zk validiums, and zk + censorship-resistant voting.
6. Binance’s global user base exceeds 200 million, He Yi Space responds to questions link
Binance officially announced that at 23:58 on the evening of June 8 (Eastern Time Zone 8), the number of registered users on the Binance platform has exceeded 200 million worldwide. It took Binance 2 years and 2 months to go from 100 million to 200 million users. Binance CEO Richard said: We are very honored to announce that Binance has welcomed 200 million registered users, and this number is still growing. This achievement reflects the continued trust of the crypto community and industry participants in the Binance ecosystem. We will cherish this trust - as a user-centric platform, we are always committed to prioritizing the needs of our growing user base.
On June 13 , He Yi held a Twitter Space to respond to questions.
Regarding the previous cross-trading incident, Binance co-founder He Yi said that the product gave more consideration to user ease of use and was not strict enough. After learning from the experience and lessons learned this time, the current risk control standards and levels will be improved. At that time, price fluctuations were detected, but the risk control department felt that the problem was not serious and let it go. He does not believe that "friendly competitors" are committed to stealing.
Regarding the coin listing process, He Yi said that there are indeed contradictions. If FDV's large project is not listed, many people will criticize "Binance doesn't even list such a hardcore technology"; FDV's small project, many people will criticize that Binance lists the project with so many problems; any policy has loopholes, and the whole process is a battle of wits and courage; in the future, Binance's coin listing and investment incubation hope to allow blockchain to be used more by entrepreneurs, rather than locking users into airdrops and trading scenarios.
Regarding the delisting of tokens, He Yi responded: The review of tokens will look at whether the product is under development, whether it has liquidity, whether there are many negative factors, and the regulatory rules of various countries, etc. The frequency of delisting has been lower recently. The fundamental reason is that the project parties in the bull market have become active (originally thought they were all dead), and there are special departments to monitor the projects that have been listed on a daily basis. In addition, we firmly oppose buying shells.
He Yi said that he would write emails to CZ every day and also take notes on his reading; his daily life mainly consists of fitness, making phone calls (teleconference calls), and coaxing his children to sleep, which is very boring.
He Yi said: We have also listed so-called "girlfriend coins" that everyone laughed at, such as Hook, saying that its users are fake, and its users are indeed not typical crypto users. We also listed a game project that brought millions of registrations, but only 56 trading users. Binance is trying to see if it can bring some normal business models, and it will also endure some ridicule and failures in the process.
7. After opening registration for Chinese users, Bybit will relocate its employees to Malaysia and Dubailink
Wu Blockchain that he had learned exclusively that after opening up registration for Chinese users, Bybit is launching a plan to relocate all employees to Malaysia and Dubai, and is considering closing offices in Shanghai, Shenzhen and other places in China. Currently, most technical employees are located in China. Analysts pointed out that after opening up Chinese users, domestic employees will undoubtedly bear greater risks. Bybit's move is a routine operation. Previously, other exchanges and crypto institutions also required all employees to move to overseas collective offices or they would be laid off.
8. Tether’s investment arm plans to invest more than $1 billion in the next 12 monthslink
Paolo Ardoino, CEO of Tether Holdings Ltd., revealed that its investment arm expects to invest more than $1 billion in trading in the next 12 months. Ardoino said in an interview that the company focuses on alternative financial infrastructure, artificial intelligence and biotechnology in emerging markets — and has invested about $2 billion in these areas over the past two years. Ardoino said that while Tether plans to continue to retain 100% of its reserves and extract an additional 6% buffer from profits to ensure smooth redemption of USDT, Tether expects to invest part of the remaining profits in trading. In addition, the company has invested more than $1 billion in the field of artificial intelligence, such as supporting data center operator Northern Data Group.
9. MicroStrategy announces plans to purchase Bitcoin via private placement of $500 millionlink
MicroStrategy announced plans to raise funds through a private placement of $500 million in convertible senior notes, which it plans to use to purchase more Bitcoin and for other corporate purposes. The notes will mature in 2032. MicroStrategy's private placement is aimed at institutional buyers who are deemed qualified, and the initial purchasers will have the option to purchase an additional $75 million in notes within 13 days of the issuance date.
10. Paradigm announces it has raised its third $850 million venture capital fundlink
Paradigm announced that it has raised its third $850 million venture capital fund, focusing on early-stage crypto projects. Paradigm was founded in 2018, and co-founder Matt Huang said that his belief in the importance of crypto technology has become stronger over the past six years. Paradigm will continue to focus on early work through its entrepreneur-in-residence and incubation programs, and plans to promote the development of more open source projects in the next few years.
Key financing events
- Symbiotic, a re-staking project, completes $5.8 million seed round, led by Paradigmlink
- Nexus Labs Completes $25 Million Series A Fundinglink
- Multi-signature agreement Squads completes $10 million Series A financing, led by Electric Capitallink
- Layer3 announces $15 million Series A funding round led by ParaFi and Greenfield Capitallink
- NEAR Foundation announces the establishment of Nuffle Labs and raises $13 million in fundinglink
- Telegram's crypto gaming ecosystem Pixelverse raises $5.5 million in fundinglink
- On-chain data developer Irys raises $8.9 million in fundinglink
- Metaverse platform Yuliverse announced the completion of $4 million in Pre-A round of financinglink
- DeFi protocol Ink Finance completes over $5 million in financing, GSR and others participate in the investmentlink
- Payment startup Kima completes $5 million in fundinglink
- Web3 social app Halo announces $3 million seed round of fundinglink
- Decentralized data protocol Codatta announces $2.5 million seed roundlink
- Decentralized credit protocol Qiro Finance completes $1.2 million Pre-Seed round of financinglink
- Binance Labs announces investment in Ethereum L2 network developer Zircuit link
For more industry funding events, please visit crypto-fundraising.info .
