Headlines
Binance has appealed Canada’s $4.4 million fine
Binance has appealed a $4.4 million fine imposed by Canada’s Financial Transactions and Reports Analysis Centre (FINTRAC) for failing to comply with anti-money laundering (AML) and counter-terrorism financing (CFT) regulations. In its appeal, Binance said it does not provide services to Canadian residents and announced plans to exit the Canadian market in May 2023. This appeal is unrelated to the legal issues Binance faces in other countries.
▌ Eigen Foundation: EIGEN Staking Airdrop Phase 2 is now open
The Eigen Foundation announced on the X platform that the second phase of the first season EIGEN staking airdrop has officially started. The addition of the second phase brings the total allocation of the first season to approximately 113 million EIGEN, which accounts for 6.7% of the 15% of the total EIGEN supply reserved for staking airdrops.
Quotes
As of press time, according to Coingecko data:
The latest transaction price of BTC is $64,858.02, with a daily change of -0.4 % ;
ETH's latest transaction price is $3553.38, with a daily change of +2.1 % ;
BNB's latest trading price is $597.75, with a daily change of +1.6 % ;
SOL's latest trading price is $135.20, with a daily change of -1.6 % ;
DOGE's latest trading price is $0.1222, with a daily change of +0.0 % ;
XPR recently traded at $0.493, with a daily change of +0.5 % .
policy
▌Nigerian High Court dismisses Binance executive detention lawsuit
The Nigerian High Court has dismissed a lawsuit filed by Binance regional manager Nadeem Anjarwalla for lack of diligence in prosecution. Anjarwalla alleged that the Nigerian government violated his fundamental rights when it detained him and seized his passport. Anjarwalla's lawyers applied to withdraw their representation so that he could hire new counsel. Anjarwalla has now fled to Kenya and failed to appear in court. Nigeria is seeking his extradition. Meanwhile, Binance's head of financial crime compliance, Tigran Gambaryan, has also been detained on similar charges and filed a separate lawsuit against the NSA and EFCC, which is scheduled to go to court on July 9.
Blockchain Applications
▌ Coinbase and CoinSwitch launched the "OnChain India" plan, intending to use Base to support the Indian on-chain ecosystem
Coinbase has launched the "OnChain India" program with Levitate Labs and CoinSwitch, intending to use Base to support the Indian on-chain ecosystem. The program includes enhancing the Indian Web3 startup ecosystem through grants and funds, ecosystem partnerships, community activities, etc. It is reported that the "OnChain India" plan will include about 50 projects by 2025, and the main initiatives and activities include providing funds and grants, such as the basic grant program and cooperative venture capital companies, as well as community activities.
io.net and OpSec collaborate to develop proof-of-concept for node deployment
Decentralized computing network io.net announced a strategic partnership with OpSec to strengthen cloud computing services. It is reported that this cooperation aims to combine io.net's decentralized GPU resources with OpSec's innovative cloud infrastructure to simplify and improve cloud operations for developers and enterprises. The two parties will also develop a proof of concept to demonstrate how to efficiently deploy OpSec's nodes in io.net's distributed network.
▌ OpenAI co-founder Sutskever announced a joint venture
Former OpenAI Chief Science Officer and co-founder Ilya Sutskever has formed a venture called Safe Superintelligence Inc., which aims to create a safe, powerful AI system within a purely research organization that has no intention of selling AI products or services in the near future. "What's special about this company is that its first product will be safe superintelligence, and it won't do anything else before that," Sutskever said of his plans in an exclusive interview. "It will be completely free from external pressures, such as having to deal with a large and complex product and having to get into the heat of competition."
Cryptocurrency
▌ Ripple and SEC's latest progress drives surge in XRP open interest
Recently, XRP open interest (OI) has surged, indicating that investors expect its price to rise. CryptoQuant's analysis pointed out that after XRP's price re-breaks through $0.50, open interest has increased significantly, reflecting the market's close attention to Ripple's legal dispute with the U.S. Securities and Exchange Commission (SEC).
Ripple's dispute with the SEC began in December 2020, when the SEC accused Ripple of conducting an unregistered securities offering through XRP. Last year, Judge Analisa Torres ruled that Ripple's sales in the open market did not constitute a securities offering, but its direct sales of XRP to institutional investors were indeed securities offerings.
Currently, the focus of the dispute between the two parties is the amount of the fine. The SEC initially requested a $2 billion fine, Ripple's lawyers suggested no more than $10 million, and the SEC ultimately proposed $102.6 million. As open positions and prices increase, market volatility increases, and investors need to be cautious.
▌Bitcoin market dominance hits new high since April 2021
According to data from The Block, Bitcoin's market dominance soared to 52.92% over the weekend, a new high since April 2021. This growth was mainly driven by the approval of spot ETFs, despite the overall market volatility. Bitcoin's market dominance has remained between 44% and 53% over the past year. However, recent news that the Federal Reserve only expects one interest rate cut in 2024 has caused Bitcoin to fall 5.3% in the past week. In contrast, many small-cap tokens such as FLOKI, STRK, IMX and FIL have fallen by double digits in the past seven days. Despite this, Bitcoin is seen as a lower-risk asset due to its high regulatory recognition and institutional adoption. As the market rebounds, Bitcoin's dominance has begun to decline.
▌ Mechanism Capital: Spot Ethereum ETF may be launched one to two quarters later
Andrew Kang, co-founder and partner of crypto venture capital firm Mechanism Capital, wrote that he believes the launch of the spot Ethereum ETF may be delayed by one to two quarters.
▌At least 40 billionaires in the world hold BTC
According to HODL15Capital statistics, there are at least 40 billionaires in the world who hold Bitcoin (BTC).
▌ Snowflake hackers lower Bitcoin ransom demand to $150,000
A hacker is selling the personal data of millions of American students after hacking into the cloud data company Snowflake, reducing the ransom from $2 million in Bitcoin to $150,000. The hacker Sp1d3r threatened to leak the data if the ransom was not paid within seven days. The stolen data included the names, addresses, financial information and login details of the students, ranging from kindergarten to 12th grade. An Edgenuity spokesperson denied that its data had been stolen and said the claim had been confirmed by LAUSD and Snowflake.
In addition, Google's Mandiant security unit attributed the hacking to the "UNC5537" group and is investigating its partnership with "Scattered Spider," the suspected leader of which was arrested by Spanish police this week.
Important economic developments
▌The probability of the Federal Reserve keeping interest rates unchanged in August is 88.6%
According to CME's "Fed Watch", the probability of the Fed keeping interest rates unchanged in August is 88.6%, and the probability of a 25 basis point rate cut is 11.4%. The probability of the Fed keeping interest rates unchanged in September is 34.6%, the probability of a cumulative 25 basis point rate cut is 58.5%, and the probability of a cumulative 50 basis point rate cut is 6.9%.
Golden Encyclopedia
What is an inverse futures contract?
An inverse futures contract is a financial arrangement that requires the seller to pay the buyer the difference between the agreed price and the current price when the contract expires. Unlike traditional futures, the seller benefits from a fall in price.
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.
