This Week’s Top 10 News
1. US Federal Reserve officials: Interest rate cuts may come at the end of the year
Neel Kashkari, the President of the Minneapolis Federal Reserve Bank, stated that it is a reasonable prediction that the US Federal Reserve will cut interest rates once this year, but it may not happen until December. He mentioned that the Federal Reserve is currently in a favorable position to gather more inflation data, economic data, and labor market data before making any decisions. However, if there is only one interest rate cut, which is the median prediction, it is likely to happen at the end of the year.
2. Consensys: SEC will not charge ETH sales as securities transactions
Consensys announced that they have received a notification from the SEC stating that they will end the investigation into Ethereum 2.0. This means that the SEC will not charge ETH sales as securities transactions. Consensys had previously written to the SEC on June 7, requesting confirmation that the approval of the ETH ETF based on ETH as a commodity in May would end the investigation into Ethereum 2.0. Furthermore, Consensys stated that the struggle is still ongoing and they are seeking a declaration in the lawsuit that the user interface software MetaMask Swaps and Staking does not violate securities laws. It is worth noting that in the lawsuit filed by the SEC against Kraken, the SEC claimed that 11 tokens including SOL, ADA, and ALGO are securities.
3. German government transferred a net deposit of 1,400 BTC to Kraken, Bitstamp, and Coinbase exchanges
On June 19 at 16:47 UTC+8, the German government transferred a total of 2,000 BTC (500 BTC each) to Kraken, Bitstamp, Coinbase exchanges, and an unmarked address 139PoP…H7ybVu, worth approximately $130 million. The German government also transferred 200 BTC to Coinbase and 1,500 BTC to the unmarked address 139PoP…H7ybVu at 21:17 UTC+8. As of the time of publication, the German government address withdrew 310 BTC from Kraken’s withdrawal address and withdrew 10 BTC from the unmarked address bc1qulc6…parj8, totaling a net transfer of 1,400 BTC to exchanges and a net withdrawal of 3,390 BTC, with a total value of approximately $220 million. The German government address still holds 47.179k BTC, valued at approximately $3.06 billion.
4. Certik and Kraken incident
On June 20, CertiK issued an official response regarding the serious vulnerability in Kraken exchange. CertiK emphasized that they immediately notified Kraken after discovering the vulnerability, which was classified as “serious” by Kraken. Although the vulnerability was fixed successfully, Kraken’s security team later threatened CertiK employees, demanding the return of cryptocurrencies that did not match the specified repayment address. CertiK stated that they decided to publicly disclose this incident in order to protect user safety and transparency, and called on Kraken to stop threatening white-hat hackers and jointly maintain the security of the Web3 future.
5. Coinbase announces the launch of Pre-Launch Market
Coinbase International Exchange and Coinbase Advanced announced the launch of the Pre-Launch Market, where users can trade perpetual futures contracts of tokens before they are listed and participate in price discovery. Qualified institutional users and retail traders can access the Pre-Launch Market through Coinbase International Exchange and Coinbase Advanced.
6. Standard Chartered Bank establishes spot cryptocurrency trading desk for Bitcoin and Ethereum
According to Bloomberg, Standard Chartered Bank has established a spot cryptocurrency trading desk for Bitcoin and Ethereum, which is about to start operating and will become part of the bank’s forex trading department. Standard Chartered Bank stated that they have been working closely with regulatory authorities to support institutional clients’ demand for Bitcoin and Ethereum trading, in line with their strategic support for a broader digital asset ecosystem, from access and custody to tokenization and interoperability.
7. Japanese cryptocurrency exchange BitFlyer is negotiating the acquisition of bankrupt FTX Japan
Japanese cryptocurrency exchange giant BitFlyer is negotiating the acquisition of bankrupt FTX Trading’s Japanese subsidiary, FTX Japan, and will take over its business. FTX Trading filed for protection under Chapter 11 of the U.S. Bankruptcy Code in November 2022 due to deteriorating operations, including approximately 130 group companies. The acquisition is expected to involve billions of yen and will depend on the progress of the bankruptcy proceedings in the U.S. court.
8. MicroStrategy repurchases approximately 11,931 BTC between April 27 and June 19
Michael Saylor announced that MicroStrategy has repurchased approximately 11,931 BTC with the proceeds from convertible notes and excess cash, at an average price of around $65,883, worth approximately $786 million. As of June 20, 2024, MicroStrategy holds 226,331 BTC, with an average price of $36,798, valued at approximately $8.33 billion.
9. Ethereum NFT market experiences a decline in both BTC and ETH denominations
The Ethereum NFT category is experiencing a general decline. As of the time of publication, in mainstream Ethereum NFTs, the floor prices for Cryptopunks, PudgyPenguins, Bored Ape Yacht Club (BAYC), Azuki, Milady, and DeGods are 24.45, 8.44, 8.84, 2.99, 5.17, and 0.80 ETH, respectively. The price changes in ETH denominations over the past week are -16.98%, -20.87%, -19.41%, -22.70%, +13.63%, and -15.63%, respectively. This may be related to the upcoming end of the third season of Blur.
10. LayerZero airdrop goes live, users must donate $0.10 for each ZRO received
On June 20, the LayerZero airdrop officially launched, and its ZRO token was listed on mainstream exchanges such as Binance, OKX, Coinbase, and Upbit. LayerZero distributes airdrops based on the number of public chains used, L0 protocol usage, Stargate voting rewards, LP, ONFT, and OFT users. LayerZero CEO Bryan Pellegrino stated that there are 1.28 million addresses eligible for the airdrop, and nearly 10 million ZRO tokens will be distributed to users, which will be owned by Sybil. LayerZero RFP will distribute 30 million ZRO tokens, with 10 million ZRO allocated to Stargate, and 1 million ZRO allocated to Pudgy Penguins and Kanpai Pandas each. All projects in the RFP will allocate their quotas to their own communities as they wish.
In addition, LayerZero has introduced a new claiming mechanism called “Proof-of-Donation” and will donate approximately $18.5 million to the collective funding mechanism for Ethereum developers, Protocol Guild. To receive ZRO, users must donate $0.10 of USDC, USDT, or native ETH for each ZRO. The small donations will be directly contributed to Protocol Guild. The LayerZero Foundation will match all donations, with a maximum amount of $10 million.
Notable Funding Events:
– Modular blockchain development platform Particle Network announces completion of $15 million Series A funding.
– Solana Layer 2 Sonic completes $12 million Series A funding.
– Binance Labs announces investment in Rango.
– Liquidity re-collateralization protocol Renzo announces completion of $17 million funding.
– Memecoin leveraged trading protocol Wasabi completes $3 million funding.
– UK Web3 and XR gaming company Saltwater Games receives investment from Animoca Brands.
For more industry funding events, you can visit crypto-fundraising.info.
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Tags:
CertiK
Kraken
SEC
Wu Shuo Blockchain
Bitcoin
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Note: The translation is based on the provided information and the article does not constitute investment advice.