According to Jinshi.com, sources said that the Japanese parliament will hold a special meeting in the lower house committee on August 23 to discuss the Bank of Japan's interest rate hike, and may ask Bank of Japan Governor Kazuo Ueda to attend.
California Congressman Ro Khanna, who hosted a meeting of crypto industry figures and US Democratic leaders on August 8, said on X Platform: "On July 10, I hosted a roundtable with the White House and cryptocurrency industry leaders because I believe it is critical for the United States to lead in technology and innovation - and this industry is a combination of both. The leaders who participated in that conversation, including Mark Cuban, Chris Larsen, Brad Garlinghouse, Anthony Scaramucci, Paul Grewal, Hayden Adams, Mike Novogratz, Denelle Dixon, Mike Brock, and leaders from Krakenf, Circle, Paxos, Anchorage, Pantera Capital, a16z, Paradigm, Electric Capital, Blockchain Capital, DCG, Blockchain Association, and Crypto Council for Innovation, all reaffirmed this belief. It was a great meeting. I am grateful to Anita Dunn for her personal contribution and to Kirsten Gillibrand and Joe Neguse’s participation and a thoughtful exchange. We also had a smaller meeting last week with President Biden and Vice President Harris’ team and members of the U.S. Treasury Department. It was a vibrant conversation and positive exchange. There are a lot of frustrations in the industry. These people are focused on innovating and creating jobs in the United States. Without clear boundaries or regulation, this already difficult task will be made even harder. I appreciate the administration taking the time to listen and understand this. I hope that as a result of these meetings, this administration will issue a positive statement in the coming weeks with a roadmap that shows the path to sensible regulation. This will allow these companies to comply with the laws of the land, innovate in the United States, create millions of jobs, and ensure that this is a bipartisan issue. This technology is critical to winning in the 21st century and the digital economy. I will remain fully committed to ensuring that we do it right and win in the future.”
Musk will play a key role in Trump's second term
In a live conversation on his X platform, tech mogul Elon Musk said he would play a role in cutting federal spending in a second Donald Trump administration, showing that the world's richest man is increasingly involved in American politics, according to Bloomberg. On Monday, Musk called for the establishment of a government commission to ensure the effective use of taxpayer funds and nominated himself for a key position on the commission. Musk said: "I would be happy to contribute to such a commission - I would be very happy if it was established." Trump praised the idea and called Musk "the greatest cutter."
SpaceX to launch manned polar mission this year, led by cryptocurrency entrepreneur Chun Wang
According to IT Home, SpaceX, a US space exploration technology company, announced on Monday that it will carry out the first manned mission around the Earth's polar regions before the end of this year. The private space flight mission is led by cryptocurrency entrepreneur Chun Wang, and the other three members include a polar explorer, a roboticist and a filmmaker. It is reported that Chun Wang is the co-founder of F2Pool. The mission, named "Fram2", is named after the Norwegian exploration ship "Fram". It will carry the "Endurance" Dragon spacecraft from SpaceX's launch site in Florida into the polar corridor and fly directly over the North Pole and the South Pole. The spacecraft will not dock with the International Space Station (ISS), but will fly around the Earth alone. For optimal lighting conditions, the three- to five-day mission is planned to fly over Antarctica around the summer solstice in the southern hemisphere, and the spacecraft will be equipped with a dome cabin for photography. This will be SpaceX's third manned Dragon spacecraft free flight mission after the "Inspiration 4" mission in 2021 and the "Polaris Dawn" mission to be launched later this month.
The US SEC sent letters to venture capital funds such as a16z and USV regarding Uniswap issues
According to BWEnews, the US SEC sent letters to venture capital funds such as a16z and USV regarding Uniswap issues.
US SEC charges NovaTech, its principals and promoters with $650 million cryptocurrency fraud
According to the SEC's official website, the U.S. Securities and Exchange Commission (SEC) announced charges against Cynthia and Eddy Petion and their company NovaTech Ltd., accusing them of operating a fraudulent scheme that raised more than $650 million in crypto assets from more than 200,000 investors worldwide. The SEC also charged Martin Zizi, Dapilinu Dunbar, James Corbett, Corrie Sampson, John Garofano, and Marsha Hadley with promoting NovaTech to investors. According to the SEC's complaint, the Petions operated NovaTech as a multi-level marketing (MLM) and crypto asset investment program from 2019 to 2023. They claimed that NovaTech would invest their funds in crypto assets and the foreign exchange market to attract investors. NovaTech used most of the investor funds to pay existing investors and pay commissions to promoters, using only a small portion of the investor funds for trading. The Petions misappropriated millions of dollars of investor assets for themselves. When NovaTech eventually collapsed, most investors were unable to withdraw their investments, resulting in huge losses. The SEC's lawsuit, filed in the U.S. District Court for the Southern District of Florida, charges the defendants with violating the antifraud provisions of the federal securities laws and alleges that they violated registration provisions. The lawsuit seeks permanent injunctive relief, disgorgement of ill-gotten gains, and civil penalties. Zizi neither admitted nor denied the allegations, but agreed to partially settle the SEC's allegations by agreeing to pay a $100,000 civil penalty and permanently prohibiting future violations of the terms of the allegations, with the amount of other monetary compensation to be determined at a later date. The partial settlement is subject to court approval.
According to Bloomberg, the liquidators of the bankrupt crypto hedge fund Three Arrows Capital are seeking at least $1.3 billion in compensation from TerraForm Labs to make up for the losses the fund suffered after the collapse of TerraUSD and Luna tokens in 2022. The liquidators said in court documents that before the collapse of these tokens, TerraForm induced Three Arrows to buy Luna and TerraUSD by manipulating the market and artificially raising the prices of these assets. The token collapse not only wiped out Three Arrows' investment in these tokens, but also caused significant losses in other investments. The liquidators said that Three Arrows Capital purchased $190 million worth of Luna in January 2022. A few months later, the massive sell-off of TerraUSD caused Luna's value to shrink significantly. Court documents show that as of the end of April 2022, Three Arrows held approximately $462 million worth of Luna, but by May 14, the value of its holdings plummeted to just over $2,700. At the same time, the net value of Three Arrows Capital's other digital assets shrank by approximately $858 million. It is not clear how much Three Arrows’ liquidators could recover from TerraForm, which filed for Chapter 11 bankruptcy protection in January. TerraForm plans to dissolve its business after a New York jury in April found Terraform Labs and Do Kwon guilty of crypto-asset securities fraud. Do Kwon was arrested in Montenegro last year and currently faces charges in the U.S. and South Korea. A Montenegrin court recently ruled that Do Kwon should be extradited to South Korea.
El Salvador receives $1.62 billion in funding to support construction of Bitcoin City
El Salvador is receiving huge infrastructure investments that are expected to support the construction of its ambitious "Bitcoin City," according to Decrypt. The Salvadoran government said on Sunday that Turkish holding company Yilport will invest $1.62 billion in two seaports in El Salvador, the largest private investment in the country's history. "This will be a mixed-ownership company between Yilport and El Salvador that will operate the two seaports for the next 50 years," Salvadoran President Nayib Bukele said in a video statement released on Monday. The agreement is the result of Bukele's visit to Turkey in 2022. One of the two ports is the Port of Acajutla, which handles most of El Salvador's exports of coffee, sugar and Peruvian balsamic vinegar and salt. The other is the Port of La Union, an idle and neglected seaport that is also the site of the planned Bitcoin City. Stacy Herbert, head of the Salvadoran National Bitcoin Office, retweeted a statement saying the project will create "thousands of direct and indirect jobs" and "invest more in local infrastructure." Bitcoin City was first proposed in November 2021 as a tax-free city that would be funded by Bitcoin mining provided by a local volcano rather than the civilian power grid. In May 2022, the president shared a potential architectural model of the city, but little has been heard about the project since then. The city was supposed to raise funds through El Salvador’s long-awaited “Bitcoin bonds,” but fundraising has been delayed multiple times. The country has found other sources of funding, though, including a renewable Bitcoin mining partnership with Tether and a “freedom visa” program for wealthy Bitcoin users.
Arthur Hayes, co-founder of BitMEX, said in his latest blog post that Yellen doesn't care about inflation at all. Her goal is to create nominal economic growth, thereby increasing tax revenue and reducing the ratio of US debt to GDP. The Treasury can inject huge liquidity by reducing the TGA from about $750 billion to zero. They do this because the debt ceiling will take effect on January 1, 2025, and according to the law, the Treasury can avoid or prevent a government shutdown by cutting the TGA. Between now and the end of the year, Yellen will inject at least $301 billion and up to $1.05 trillion. This will create a brilliant bull market for all risk assets, including cryptocurrencies, before the election. With the issuance of US Treasury bonds and the repurchase program operating behind the scenes, liquidity conditions will improve. If Harris wavers and needs more firepower in the form of a surge in the stock market, Yellen will cut the Treasury bonds. Cryptocurrencies are expected to break away from the sideways downward trajectory starting in September. Since April, the crypto risk market has been trading sideways, with liquidity being drawn out of the system due to a net reduction in outstanding bonds. Cash is still trapped on the Fed's balance sheet (RRP) and cannot drive up financial asset prices. Therefore, according to Yellen, net issuance of US Treasuries will reach $301 billion between now and the end of the year. If this relationship holds, Bitcoin will quickly give up the sell-off caused by the appreciation of the yen. The next stop for Bitcoin is $100,000. Only after Bitcoin and Ethereum break through $70,000 and $4,000 respectively, will the alt season return. Hayes also said: "This year is the best time for liquidity. Therefore, I will sell on the highs. And put the funds into and pledge them in Ethena USD (sUSDe). Once the US debt ceiling farce is over, liquidity will pour out from the Treasury and the Federal Reserve to get the market back on track. Then, the bull market will really begin. $1 million Bitcoin is still my base case. Once Yellen and Powell join forces, China will release its long-awaited fiscal stimulus plan. The US-China cryptocurrency bull market in 2025 will be brilliant."
According to the official announcement, Coinbase will add support for Gravity (G) on the Ethereum network (ERC-20 token). Do not send this asset through other networks, otherwise funds may be lost. If liquidity conditions are met, trading will begin at approximately 12 noon EST on August 13. Once the supply of this asset is sufficient, the G-USD trading pair will start trading in phases. Support for G may be limited in some supported jurisdictions.
Paul Grewal, Chief Legal Officer of Coinbase, said on the X platform that Coinbase submitted another opinion brief to the U.S. Securities and Exchange Commission (SEC) today on the agency's proposal to expand the definition of "exchange". In short, the SEC's proposal lacks key analysis, is based on unreasonable assumptions, fails to prove that there are any problems that need regulation, and greatly exaggerates the so-called benefits of the proposal. At the very least, it should be withdrawn and rewritten. The SEC failed to collect basic information and did not conduct any economic analysis of how the proposal would affect DEX. But it still insisted on its unreasonable assumptions. The SEC should refuse to extend this proposed rule to DEX. Otherwise, this could have serious consequences for millions of Americans engaged in digital assets. Not to mention the harm it could bring to innovation in the growing DEX market. In addition, the SEC assumes that there are some problems in the industry that need to be corrected, but fails to prove the existence of the problem. This is not the way to make rules. At the very least, the proposal should be withdrawn and corrected.
Stride, the Cosmos ecosystem liquid staking protocol, stated on the X platform that from February to June, a total of 250,000 STRD was distributed to stDYM holders. For the stDYM airdrop, STRD will be accurately distributed 150 days after the distribution. Users can choose to claim the full amount immediately. But there is a fee. If you claim it immediately, you will lose 30% of the total airdrop. The immediate unlock option is only available in the next 30 days. Previously, on July 30, Stride stated that a total of 5 million STRD had been distributed to stTIA holders since February 1, and these tokens will be distributed in the next 150 days. .
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According to MediaZona, Putin signed a law on August 8 requiring website bloggers and Telegram channel owners with at least 10,000 subscribers to register with Roskomnadzor in a timely manner. The document stipulates that bloggers who do not report their specific audiences to Roskomnadzor are not allowed to place advertisements and solicit donations, and other channels are not allowed to forward their publications. The law also limits the number of SIM cards that can be sold to one person. Foreigners can own up to 10 SIM cards, and Russian citizens can own up to 20.
Grayscale transfers 700 BTC and 16,088 ETH to Coinbase Prime
According to Arkham monitoring, Grayscale transferred 700 BTC to the Coinbase Prime address, worth about $41.79 million. In addition, Grayscale also transferred 592.068 BTC to an unknown address, worth about $35.35 million. And transferred 16,088 ETH to the Coinbase Prime address, worth about $43.22 million.
Symbiotic, a restaking protocol, launches development network, plans to launch full mainnet in Q3
According to The Block, the re-pledge protocol Symbiotic has launched its development network on the Ethereum Holesky test network, and the mainnet will be released later in the third quarter. Symbiotic allows users to deposit funds to support third-party protocols through a shared security model, positioning itself as a competitor to Ethereum's first re-pledge protocol EigenLayer. In addition to Ether and specific derivatives, it also supports a variety of ERC-20 tokens. The deployment includes the Symbiotic core contract, including its vault and mortgage system, which allows the use of any asset to re-pledge to protect third-party protocols.
A whale deposited 191.89 BTC into Binance. If sold, it would make a profit of $7.76 million
According to on-chain analyst @ai_9684xtpa, BTC whale bc1qc...8un8c deposited 191.89 BTC from July 2021 to November 2022 at an average price of $18,168 into Binance. If sold, it will make a profit of $7.76 million. The remaining 300 BTC still have a floating profit of $12.14 million, and the overall profit is as high as $19.9 million.
Andrew Kang: I don’t think SUI’s market value will reach the level of SOL
Responding to top trader Eugene Ng Ah Sio on the X platform, Mechanism Capital co-founder Andrew Kang said that he does not think SUI will reach SOL’s market cap, but its current market cap is only 3.5% of SOL, which sounds like the arguments given by the .eth community before or during SOL’s outperformance.
ZachXBT: One of the largest WBTC holders is a suspicious entity associated with ransomware/piracy
On-chain detective ZachXBT said on the X platform that one of the major holders of WBTC is a suspicious entity related to ransomware/pig killing. The holding data is as follows: 0xed805ac246f441ea0d057b81d910ef1e39eb5995 holds 1253 WBTC (US$73 million); 0x9a5c7630d327885ae849217702824e5835d3c5e0 holds 185 WBTC (US$10.8 million).
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