BlockBeats will organize the key industry news content of the week (7.8-7.14) in this article, and recommend in-depth articles to help readers better understand the market and learn about industry trends.
Important News Review
Spot Ethereum ETF will be listed on July 23
On July 16, Reuters reported that the U.S. Securities and Exchange Commission (SEC) has preliminarily approved at least three asset management companies (BlackRock, VanEck and Franklin Templeton) to start trading Ethereum spot ETFs starting next Tuesday, and a total of eight asset management companies hope to launch such funds. Sources said that the approval is subject to the applicant submitting final issuance documents to regulators before the end of this week. One of the people said that all eight companies are expected to launch such funds at the same time. On the 18th, according to official SEC documents, the SEC has approved Grayscale Ethereum Mini Trust and ProShares Ethereum ETF, two Ethereum spot ETFs, to be listed on the Arca electronic trading platform of the New York Stock Exchange (NYSE). Issuers still need to wait for final comments on their respective S-1 documents before they can officially start listing spot products.
Source: SEC Commissioner Says Ethereum ETF Including “Staking” Can Be Reconsidered
On July 17, Coinage founder Zack Guzmán posted on social media that SEC Commissioner Pierce revealed to him in an interview that an Ethereum ETF that can be "pledged" may be reconsidered by the SEC. Pierce said: "I think it's definitely something like staking, or any feature of the product... As far as I'm concerned, these can always be reconsidered."
Bets on a Fed rate cut this year continue to grow
This week, several Fed spokespersons, including Williams, Kugler, and Waller, said that the time for a rate cut is getting closer. On July 18, according to CME's "Fed Watch": The probability of the Fed keeping interest rates unchanged in August is 95.3%, and the probability of a 25 basis point rate cut is 4.7%. The probability of the Fed keeping interest rates unchanged by September is 1.9%, the probability of a cumulative 25 basis point rate cut is 93.5%, and the probability of a cumulative 50 basis point rate cut is 4.6%.
The WLD lock-up period for Worldcoin contributors will be extended to 5 years
On July 16, according to the Worldcoin Foundation, the WLD tokens allocated to Worldcoin contributor Tools for Humanity were originally scheduled to be unlocked daily in a linear manner starting on July 24, 2024. However, TFH will extend the unlocking schedule for 80% of WLD held by team members and investors from 3 years to 5 years. Grants for WLD verified World ID holders are not affected. Perhaps affected by this news, WLD continued to rise. The next day, WLD broke through 3 US dollars, with a 24-hour increase of 40.78%. Related reading: "WLD token unlocking rules have been adjusted, and the market has responded positively, but can it be sustained?" "A top trader's love-hate relationship with Worldcoin"
Binance HODLer Airdrop Launches First Project Banana Gun (BANANA)
On July 19, according to the official announcement, Binance announced the first project on the HODLer airdrop portal, Banana Gun (BANANA). Users who subscribe to the BNB Simple Earn product between 00:00 (UTC) on June 23, 2024 and 23:59 (UTC) on July 5, 2024 will receive the airdrop allocation. The BANANA HODLer airdrop page is expected to be launched within five hours, and the new tokens will be distributed to users' spot wallets 1 hour before trading begins.
Binance will launch BANANA at 09:00 (UTC) on July 20, 2024, and add a seed tag. It is reported that Binance HODLer Airdrops is a plan to reward BNB holders with token airdrops based on historical snapshots of BNB balances. By subscribing to BNB Simple Earn, users will automatically be eligible for HODLer airdrops (as well as Launchpool and Megadrop rewards).
Binance.US Gets Approval from Judge to Invest Certain Customer Assets in U.S. Treasuries
According to the order signed Friday by Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia, Binance must work with a third-party investment advisor to invest in the assets of BAM Trading Services Inc. and BAM Management US Holdings Inc. (collectively, BAM’s assets). Both entities are in the United States. Binance must also transfer the cryptocurrency to a third-party custodian not affiliated with the trading platform. BAM is allowed to invest certain customer fiat funds held with BitGo in U.S. Treasuries that “will mature on a rolling basis on a four-week basis,” provided that no Binance entity is involved in the investment process and that BAM has sufficient U.S. dollars on its platform to meet customer withdrawal requests and other requirements.
LI.FI official hacked, total loss nearly 12 million US dollars, will provide compensation to affected users
On July 16, the cross-chain aggregator LI.FI officially issued a statement confirming that the protocol had been attacked. Previously, security agencies had detected suspicious fund outflows from LI.FI, with a scale of US$8 million. According to Paidun monitoring, this LI.FI hacker attack is basically the same as the early hacker attack vulnerability error on the LI.FI protocol on March 20, 2022. On the 18th, LI.FI announced that it would contact affected users and provide a voluntary compensation plan. Users participating in the compensation plan need to fill out relevant forms. On the 19th, the LI.FI hacker incident report showed that "personal human errors" during the update of its smart contract caused the protocol to be attacked by bad actors. An estimated 153 wallets were affected and nearly US$12 million worth of USDC, USDT and DAI stablecoins were lost. After detecting the security vulnerability, its team immediately launched an incident response plan. The vulnerability originated from a problem in verifying transactions, involving the shared LibSwap code base used by the protocol with multiple decentralized trading platforms and other DeFi protocols, due to "personal human errors during the supervision of deployment."
WazirX was hacked and its Ethereum network multi-signature wallet was stolen; the stolen assets involved more than $100 million worth of SHIB, $50 million worth of ETH, etc.
On July 18, the Indian cryptocurrency trading platform WazirX was hacked and its multi-signature wallet on the Ethereum network was stolen. The stolen assets involved more than $100 million worth of SHIB, $50 million worth of ETH, etc., totaling $234.9 million. The stolen assets have been transferred to a new address. The caller of each transaction is funded by Tornado Cash. Perhaps affected by this news, SHIB fell by more than 5% in a short period of time. Later that day, according to monitoring by on-chain analyst Ember, the WazirX hacker had completely sold off $100 million worth of SHIB, and there were still $18 million worth of altcoins that had not been sold.
WazirX stolen assets transfer address (WazirX Exploiter 1): 0x361384e2761150170d349924a28d965f0dd3f092
The stolen copycat tokens were sold in exchange for ETH. Storage address: 0x04b21735e93fa3f8df70e2da89e6922616891a88
This week, a large amount of money was transferred out of the Mt.Gox address in Mentougou again, and assets have been repaid to more than half of the creditors
On July 16, according to Arkham data, the Mt.Gox address in Mentougou transferred 0.021 bitcoins to a newly created address, which may be a transfer test. Perhaps affected by this news, Bitcoin fell 0.34% in a short period of time. Within 1 hour, the Mt.Gox address in Mentougou transferred a total of 91,228 BTC to two addresses, equivalent to about 5.7 billion US dollars. Later that day, according to a notice issued by Nobuaki Kobayashi, the trustee of Mt.Gox, the trustee has repaid BTC and BCH to more than 13,000 creditors so far. Previously, Mt.Gox mentioned in court documents and related reports at the time of its bankruptcy that about 24,000 creditors submitted claims. At present, more than half of the people have been repaid.
Craig Wright makes public statement admitting he is not Satoshi Nakamoto, the creator of Bitcoin
On July 17, according to a document released by Bitcoin Magazine, Craig Wright, known as "Australian Satoshi", officially issued a public statement admitting that he is not Satoshi Nakamoto, the creator of Bitcoin. Related reading: "9 years later, CSW finally admitted that he is not Satoshi Nakamoto"
Sanctum token CLOUD was issued at 23:00 on July 18
On July 18, Solana's ecosystem liquid staking protocol Sanctum has officially opened airdrop applications. Eligible users can claim them through the Jupiter LFG page. Its token CLOUD (Sanctum) has been launched on Jupiter and is temporarily priced at $0.305 at press time. Related reading: "Sanctum's original "dynamic airdrop", detailed explanation of airdrop rules and valuation"
Trump posted a dynamic with the text "FEAR NOT", and the meme token of the same name has appeared on the SOL and ETH networks
On July 16, according to the content posted by Trump's social media tracking account @TrumpDailyPosts, US presidential candidate Trump posted a new social email at 11:51 Beijing time, with the text "Don't be afraid (FEAR NOT), I am Trump, I will make America great again!". The FEAR NOT meme token has quickly appeared on the Solana and Ethereum networks and achieved a large increase in a short period of time.
Bitcoin Magazine CEO: Trump confirms he will still attend the 2024 Bitcoin Conference and give a speech
On July 15, Bitcoin Magazine CEO David Bailey said on his social platform, "I just talked to the president's team. He is in good spirits and will still give a speech in Nashville (the venue for the 2024 Bitcoin Conference) for the whole world to hear."
In addition, guests will have the opportunity to interact with Trump and participate in roundtable discussions. The fees are as follows: $844,600 per person, including VIP reception, roundtable discussion and photo with Trump; $60,000 per person or $100,000 per two people, including VIP reception and photo with Trump. Payment methods support cryptocurrency.
Messari founder's radical remarks in support of Trump sparked controversy, he said he would calm down as soon as possible
On July 19, Ryan Selkis, the founder of Messari, recently posted a large number of radical "support for Trump" remarks on social media, such as "Anyone who votes against Trump at this time may die in a damn fire", "The civil war in this country has started today. If you are against Trump, you are against those who are willing to fight", etc. At present, he has set most of the relevant tweets to "private". Later that day, Ryan Selkis tweeted that the leadership of Messari had discussed the situation with him and thanked the team for their concern and friendly help about his behavior, but he was very busy this week and would soon resolve the issue of radical remarks. The next day, Ryan Selkis announced that he had resigned. Related reading: "Messari founder said he wanted to send all American immigrants back to their hometowns"
Polygon plans to convert MATIC to POL on September 4
On July 18, Polygon's mainnet upgrade is scheduled for September 4, 2024. After community approval, its native token will be converted from MATIC to POL. The testnet migration launched on July 17 aims to identify and resolve potential issues before the mainnet upgrade. After the upgrade, POL will replace MATIC as the main token for blockchain gas fees and staking. Related reading: "MATIC will be upgraded to "POL", what are the highlights of the new token?"
This week's hot articles
"Founder of Silicon Valley's top venture capital firm A16Z: Why we turned to support Trump"
Marc Andreessen, co-founder of A16Z, one of Silicon Valley's most prominent venture capital firms, has been a Democrat for most of his life. He has supported and voted for Clinton, Al Gore, John Kerry, Obama, and Hillary. However, he says he is no longer loyal to the Democratic Party. In the 2024 presidential election, he will support and vote for former President Donald Trump. The reason why he chose Trump over Biden mainly comes down to one important issue: He believes that Trump's policies are more conducive to technology, especially the startup ecosystem.
July 15, 2024 Former US President Donald Trump has selected Ohio Senator JD Vance as his vice presidential running mate for the 2024 election, another strong statement from the Make America Great Again (MAGA) faction of the Republican Party that is bound to shake up an already unprecedented election year. According to the Wall Street Journal, if Trump is elected, Vance, who will turn 40 in August, will become one of the youngest vice presidents in US history.
"Trump fundraising documents exposed, which crypto industry leaders support Trump's campaign?"
Recently, two super PACs (Super PACs) that are the main channels for Trump's fundraising, namely Trump 47 Committee and America PAC, have submitted disclosure documents for accepting donations to the Federal Election Commission (FEC), and donations from several crypto industry leaders or crypto friends have surfaced. As the US election approaches, Trump's fundraising is also in full swing. This article takes stock of the well-known donors related to the main crypto industry who support Trump's campaign.
"When the next "election event" happens, should you choose Solana or Ethereum to buy memes?"
As soon as the news of Trump's shooting came out, dozens of memes jumped up. FIGHT and EAR quickly became the new round of 100-fold coins, but not everyone can get the first wave of meme gains in time. If you are not willing to wait for the next explosion, you must hurry up and get on board. Ethereum and Solana are recognized as the most profitable chains for memes, but which one would you choose?
Behind Binance's launch of $BANANA, TGBot becomes the next must-win track for trading platforms
Just after its seventh anniversary, Binance launched a new airdrop reward program for BNB holders, Binance HODLer Airdrops. What many people didn’t expect was that Binance chose Banana Gun as the first HODLer Airdrops project. But after communicating and thinking with more friends, I found that the more important "layout" behind this is that the trading platform may have found the next profit opportunity, that is, the new growth market, that is, trading BOT.
"VC coins" are not the fundamental reason for the birth and death of new public chains. "Technical thresholds" are all paper tigers. "Someone comes to play with you" is the key to survival, which is also the simplest way to judge the potential of public chains. According to this logic, if we examine the new public chains on the market today, Berachain is probably the only one that can pass the passing line. Recently, BlockBeats interviewed Smokey The Bera , co-founder of Berachain, and talked about their "sloppy" LOGO design and how they plan to "squander" the $140 million in financing.
On July 18, the Indian cryptocurrency trading platform WazirX was hacked and its multi-signature wallet on the Ethereum network was stolen. A total of $234.9 million has been transferred to a new address, and the caller of each transaction was funded by Tornado Cash. Subsequently, WazirX officials responded to the theft on X, saying: "We have noticed that one of our multi-signature wallets has suffered a security breach. Our team is actively investigating this incident. In order to ensure the safety of user assets, INR and cryptocurrency withdrawals will be temporarily suspended, and further updates will be provided in the future."
"How did smart money make 100 times more money on Trump's shooting?"
On July 14, Trump was shot in the ear while giving a speech at a campaign rally. He raised his right fist while being protected by security. After that, the Trump meme concept skyrocketed. TRUMP soared by nearly 70% in 1 hour, and MAGA soared by 33% in 1 hour. In addition, several related meme coins appeared on Solana, among which FIGHT and EAR increased by more than 100 times after they were launched. After explosive news events, a series of related meme tokens and coins will always appear quickly. Several targets with an increase of more than 100 times and huge profit margins have emerged. How were these "large MC memecoin" born? What are the characteristics of smart money that has made high profits?
"Dissecting Bitcoin's current selling pressure, how far is it from $73,000?"
In the past month, the continuous outflow of ETFs led to the decline of the market, which then caused panic. The German government's selling of Bitcoin actually affected the price of Bitcoin more in terms of market sentiment. The selling pressure itself did not have as much impact on the price of Bitcoin as the community imagined. So after more than ten days of continuous inflow of ETFs, what is the impact of the potential selling pressure in Mentougou on the market? What other sellers need to consider? Based on the report and combined with data from other institutions, BlockBeats sorted out the multiple selling pressure factors facing the Bitcoin market.
A top trader's love-hate relationship with Worldcoin
Since its launch, Worldcoin has been daunting with its extremely high FDV, and even triggered a long-lasting discussion on whether FDV is a meme. After the baptism of various high FDV/low circulation market value tokens in the first half of this year, we now know that FDV is not a meme. High FDV means a big cut! But there are ways to cut big. When the internal unlocking was about to begin, Worldcoin suddenly announced at 9 pm on July 16 that the unlocking period of tokens allocated to the development company Tools for Humanity team members and investors would be extended from 3 years to 5 years...
《WLD token unlocking rules adjusted, market response positive but can it be sustained?》
Since March, WLD (Worldcoin) has been on a downward trend, with the unit price falling from a peak of nearly 12 USDT to a minimum of 1.72 USDT. The fundamental reason for this is not only the overall market downturn, but also the large and continuous token unlocking pressure of WLD. However, in recent days, Worldcoin has made two consecutive changes to the token release rules, causing the token to rise by 8% and 13% within an hour respectively. How big was the original selling pressure of WLD, and what impact did the two changes have on the continued unlocking?
TON chain is a blockchain project developed by Telegram. Although the Telegram team withdrew from the development of the project midway, the TON Foundation still took over and continued to develop it. Since last year's trading BOT, TON chain has gradually prospered, and it has also provided more opportunities and possibilities for today's mini-game BOT.
"Major assets withdrawn, coin price cut in half, what happened to Pendle?"
According to the latest Defilama data, on June 10, Pendle's total locked value (TVL) climbed to a peak of $6.7 billion. However, in the following two weeks, TVL dropped sharply by 40%, and about $3 billion of funds were withdrawn from Pendle. The main reason for this significant decline was that multiple financial products on the Pendle platform expired, causing users to choose to stop staking and withdraw.
《9 years later, CSW finally admitted that he is not Satoshi Nakamoto》
The two-month-long legal battle finally came to an end today. Craig S. Wright (CSW for short) officially issued a public statement, admitting that he is not Satoshi Nakamoto.
Why are these five tokens securities? The SEC gives the answer
Below are details of some of the crypto-asset securities that Consensys trades for investor accounts through its MetaMask Swaps platform. Each of these crypto-asset securities was offered and sold as an investment contract since its initial offering or sale and was therefore considered a security. For each of these crypto-asset securities, representations by the issuer and promoter created a reasonable expectation for investors to receive profits from the management or entrepreneurial efforts of such issuer and promoter (and related third parties). This reasonable expectation exists regardless of whether an investor acquired the crypto-asset security through the initial offering, from a prior investor, or through a crypto-asset brokerage platform, including the MetaMask Swaps platform.
Blockchain games are a very unique track. Now that we are in 2024, if you are a light blockchain gamer like me (i.e., you don’t focus on the blockchain game track and spend a lot of time playing blockchain games every day), your impression of blockchain games may be that blockchain games are becoming more and more sophisticated and playable. Many of the profitable blockchain game projects this year are no longer the same as before.
MakerDAO, a decentralized lending protocol and the issuing protocol behind the stablecoin DAI, announced last Friday (12) that it would hold an open competition called the Spark Tokenization Grand Prix, planning to invest $1 billion of its reserves in tokenized U.S. Treasury bonds. In this competition, top issuers including global asset management giant BlackRock's tokenized fund BUIDL, RWA protocol Ondo Finance, and crypto-native asset management company Superstate all plan to submit applications to the tokenization competition. After the news of the three giants joining was released, the MakerDAO token MKR jumped 10% within 24 hours.
On July 16, the financial market continued to rise, with U.S. stocks, gold and cryptocurrency markets soaring across the board. In the crypto market, data showed that Bitcoin hit a four-week high during the session, soaring above $65,000 for the first time since the end of June. Among the mainstream Altcoin, XRP performed the strongest, with a weekly increase of 35%. The broader Altcoin market also benefited from investor enthusiasm, with 90% of the top 200 tokens by market value rising.
Ethereum ETF may not be good for Altcoin
On July 18, as issuers successively submitted S-1/A and other documents of spot Ethereum ETF to the US SEC, the fees of 9 spot Ethereum ETFs have been announced and trading will start next week. Crypto researcher Thor used linear analysis to analyze the correlation between various Altcoin and Ethereum to explore whether ETFs will benefit Altcoin while benefiting Ethereum.
A few weeks ago, after Blast airdropped, no one seemed to pay much attention to this project. Yesterday, sharp-eyed netizens discovered that Blast changed the name of its official X account from @Blast_L2 to @Blast. At the same time, the profile of Blast's official account also began to describe itself as "The Fullstack Chain" instead of an L2. This seems to be deliberately downplaying the general impression that it is Ethereum's L2.
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