Golden Weekly is a weekly blockchain industry summary column launched by Jinse Finance, covering the week's key news, market and contract data, mining information, project dynamics, technological progress and other industry dynamics. This article is a project weekly, taking you to see the progress of this week's mainstream projects and star projects.
Bitcoin
After Bitcoin halving, listed mining companies raised a total of $2.2 billion to cope with cash flow tightening
After the Bitcoin halving, listed mining companies are turning to debt financing to increase cash flow. According to data from BlocksBridge Consulting based on earnings reports, nine of the 13 U.S. listed companies raised a total of $1.25 billion through stock issuance in the second quarter of 2024. These include Bitdeer, Bitfarms, Cipher, CleanSpark, Core, HIVE, Marathon, Riot, and Terawulf. In addition, Iris Energy raised $458 million in the previous quarter, bringing the total funds raised by miners to more than $1.7 billion. Another $530 million has been raised so far in the third quarter, bringing the total amount to more than $2.2 billion.
Bitcoin is taking over Wall Street
Bitcoin Magazine stated on social media X that Bitcoin is taking over Wall Street.
Two-thirds of institutional Bitcoin ETF holders increased their holdings in the second quarter
On August 15, Bitwise data showed that about 66% of institutional investors held or increased their holdings of Bitcoin through U.S. spot exchange-traded funds in the second quarter. According to the 13F documents submitted to the U.S. Securities and Exchange Commission, 44% of asset managers increased their Bitcoin ETF positions in the second quarter, while 22% of asset managers remained stable. Only 21% reduced their positions and 13% exited their positions. Matt Hougan, chief investment officer of Bitwise, said: "This is a pretty good result, comparable to other ETFs."
Former US SEC official: Morgan Stanley's promotion of Bitcoin ETF may face stricter regulatory scrutiny
John Reed Stark, former head of the U.S. Securities and Exchange Commission's (SEC) Internet Enforcement Division, said Morgan Stanley's latest move to massively promote Bitcoin exchange-traded funds (ETFs) to its clients could lead to stricter regulatory scrutiny of the U.S. bank. Earlier this week, the Wall Street giant announced plans to allow its 15,000 licensed financial advisors to begin promoting Bitcoin spot ETFs to clients, including BlackRock's IBIT and Fidelity's FBTC. But only for high-net-worth individuals with a net worth of $1.5 million or more and high risk tolerance.
The Bitcoin network high priority transaction fee is currently 4 Sat/byte
According to mempool.space data, Bitcoin network transaction fees have dropped, with high priority fees currently at 4 Sat/byte.
Trump: It’s unfair for banks to deny service to Bitcoin and cryptocurrency companies
Bitcoin Archive published an article on the X platform, Trump: It is unfair for banks to refuse to provide services to Bitcoin and cryptocurrency companies.
Analysis: Markets overreact to US government selling Bitcoin
Bitcoin prices fell further as the U.S. government's transfer of Bitcoin today increased selling pressure. Axel Adler Jr., a contributor to the on-chain analysis platform CryptoQuant, said that large market participants led the risk-off reaction to the latest transfers by "selling the news." He pointed out that "whenever Arkham tweets about the currency's trend, shorts immediately start selling the market. The 10,000 Bitcoins sold by the U.S. government will not have any impact, but the fact itself will cause such a reaction." According to data from crypto intelligence company Arkham, the largest batch of cryptocurrencies confiscated by the U.S. government this year, totaling 10,000 BTC (worth $581 million) was transferred to Coinbase for trading. This event offset any positive effects from macroeconomic changes in the United States, such as the failure of the Consumer Price Index (CPI) to boost Bitcoin prices. Analysis platform Lookonchain shows that the U.S. government's Bitcoin transfers in 2024 have repeatedly triggered copycat reactions in the market. This year, the U.S. government transferred 15,940 BTC worth $966.4 million to Coinbase Prime in three transactions. In the three days following the first two transfers, the price of Bitcoin fell by about 5%.
Developer Robin Linus releases 'BitVM2' to improve Bitcoin programmability
Bitcoin developer Robin Linus released "BitVM2", an improved version of last year's "BitVM" paradigm, which aims to improve Bitcoin's programmability and push the concept closer to real-world applications. "BitVM2" introduces a "permissionless challenge" feature that allows anyone to question suspicious transactions, solving key deficiencies in the original version. The project uses advanced cryptography and new designs to create a secure "bridge" that enables Bitcoin to be transferred from the main network to a secondary network called "rollups" and eventually back to the main network. Linus' project is seen as a breakthrough because it does not require changes to Bitcoin's underlying code. The new design simplifies bridge operations and improves capital efficiency, and is expected to bring broader application prospects to the Bitcoin ecosystem.
Ethereum
NEBRA Zero-Knowledge Proof Aggregator is Live on Ethereum Mainnet
Blockchain R&D company NEBRA is launching universal proof aggregation technology and will launch it on the Ethereum blockchain. The technology allows multiple zero-knowledge proofs to be combined into a compact proof to save blockchain verification costs.
Nasdaq withdraws application to list spot Bitcoin and Ethereum ETF options
According to documents on the website of the U.S. Securities and Exchange Commission (SEC), Nasdaq withdrew two applications for listing and trading spot Bitcoin and Ethereum spot ETF options. At the same time, the New York Stock Exchange also withdrew the listing and trading applications of Bitwise and Grayscale spot Bitcoin ETF options on the same day. Bloomberg analyst James Seyffart said he expects Nasdaq and the New York Stock Exchange to resubmit applications for listing Bitcoin spot ETF options in the next few days or weeks. According to previous news, other exchanges also withdrew similar applications last week. MIAX, MIAX Pearl and BOX Exchange withdrew their proposals to list spot Bitcoin ETF options, and the Chicago Board Options Exchange also withdrew its application for listing spot Bitcoin ETF options, but then resubmitted the application. The SEC has not yet approved the trading of options products based on spot Bitcoin and spot Ethereum ETFs.
US spot Ethereum ETF had a net outflow of $39 million yesterday
According to Trader T's monitoring, the US spot Ethereum ETF had a net outflow of US$39 million yesterday.
Ethereum key support area between $2,300 and $2,380
According to Into TheBlock data, about 1.62 million addresses purchased more than 50 million ETH between US$2,300 and US$2,380. Therefore, if Ethereum continues to decline, the price of the currency will have key support in the above price range.
Hyperledger's new lab Zeto launches Ethereum privacy solution
Hyperledger's new lab Zeto has launched an open source privacy solution designed to address privacy issues for enterprises on the Ethereum blockchain. Developed by Kaleido, Zeto uses zero-knowledge proof (ZKP) technology to provide multiple levels of privacy protection for Ethereum by introducing a Bitcoin-like token design. This includes privacy features from anonymous senders and receivers to hiding transaction amounts and history. The emergence of Zeto responds to institutional interest in permissioned versions of Ethereum, especially in projects such as DREX, the Brazilian Central Bank Digital Currency (CBDC) project, where privacy issues have caused project delays. Zeto's unique design is similar to Bitcoin's UTXO model, different from Ethereum's traditional ERC-20 token standard, and provides higher privacy protection for enterprise users.
Other Projects
Trump's second son's project is related to "digital real estate"
Eric Trump, the second son of former US President Donald Trump and current executive vice president of the Trump Organization, revealed his upcoming project in an interview with the New York Times, but refused to disclose any specific details, only saying that the crypto project will be announced publicly after "everything is ready." He hinted that the project may involve "digital real estate," suggesting that people can lend or borrow funds through it. As previously reported, Eric Trump posted on social media, "I really fell in love with cryptocurrency/DeFi (decentralized finance). Stay tuned for major announcements."
Donald Trump Jr. Launches Telegram Channel 'The DeFiant Ones' for His Crypto Project
Donald Trump Jr. announced the opening of a Telegram channel "The DeFiant Ones" on the X platform to introduce upcoming crypto projects. In a post on X, he said: "There are many rumors about our crypto project. To know the real situation and stay updated with official announcements, join our official Telegram channel. Don't rely on speculation – get news directly here!" The name of the channel "The Defiant Ones" is consistent with a recent trademark application. In July, a company called AMG Software Solutions filed trademark applications for "Be DeFiant," "World Liberty," and "World Liberty Financial." According to its application, this third trademark is used to "provide financial information in the field of decentralized finance (DeFi)."
Eigen Labs distributes employee wallet addresses to ecological project parties, which may be suspected of conflict of interest
Eigen Labs, the company behind EigenLayer, distributed its employee wallet addresses to ecological project parties, which may be suspected of conflicts of interest. According to a project team, they sent a portion of the newly issued cryptocurrency to each Eigen Labs employee as a "thank you", and the value of the distributed tokens to each employee reached $80,000.
Ant Financial: Promoting a new energy asset cross-border RWA project
Ant Digits CTO Wang Wei revealed in response to questions from Sina Technology that Ant Digits is actively promoting the implementation of a cross-border RWA project involving new energy assets. It is reported that Ant Digits has currently participated in the Hong Kong Monetary Authority's digital currency project to jointly explore and research the application scenarios of tokenized deposits, tokenized assets and central bank digital currency settlement. Wang Wei told Sina Technology, "RWA is a new exploration of our overseas business sector. We hope to build a technological bridge for real enterprises and provide unique value."
BitGo CEO: It is difficult to disclose the changes of WBTC project in detail, but we still choose to work hard to communicate the details with the outside world
On August 14, at the X Space for WBTC discussion, which Jupiter co-founder Meow, BitGo CEO Mike Belshe, and Justin Sun(BitGlobal) attended, Belshe said: "We could have concealed these things and waited for people to find out later. But we didn't do that. Instead, we chose a difficult path, which is to make sure everyone knows. Everything we do is dedicated to advancing what we have been trying to do. Of course, there are many details that cannot be listed one by one, which is almost impossible. So, if we have missed anything in the relevant announcement, please allow me to apologize to everyone. However, we hope that everyone can see that we (BitGo) are sincere, and we are working hard to explain all the details to the outside world and make sure that everyone can understand this behavior."
