Odaily Planet Daily News DFINITY Developers published an article on the X platform to announce the latest batch of projects funded by the DFINITY Developer Grant Program, including: 1. Civic provides identity and access management solutions that can be used in ICP's Dapp to manage access rights of specific subjects; 2. ICPGPT is the first language model that is completely on-chain, porting LLM reasoning to ICP for stable memory storage. ; 3. Ageis Finance is a DeFi platform that supports inflationary insurance contracts and options, supported by ICP, ckBTC and ckETH; 4. Jagad Official is a mobile wallet application that allows users to convert ICP to JIDR, which represents the Indonesian rupee.

Odaily Planet Daily News Engineer Tamara posted on the X platform that she had just resigned from her position at Apple and turned to building Ethereum Blobspace derivatives and contributing to its ecosystem. She said that the Dencun upgrade achieved record high usage and reduced the fees of L2 with blobs by 10 times. However, during periods of high network demand, the Gas peaks of more than 10,000% generated by inscriptions quickly highlighted their price volatility. Future congestion events may bring more unpredictable costs. Blobspace derivatives are designed to hedge this volatility. Similar to commodity futures trading, the establishment of a derivatives market for blob Gas fees creates strategic trading opportunities for rollups (paying a premium to reduce operating cost risks).

Odaily Planet Daily News BitMEX co-founder Arthur Hayes posted on the X platform that as the U.S. Treasury Department expects tax revenue to increase the general fiscal account (TGA) by about $200 billion, U.S. Treasury Secretary Janet Yellen is expected to inject a lot of liquidity into the market when she announces the Treasury bond issuance plan for the second quarter of 2024 next week. Hayes proposed three possible options: first, stop issuing Treasury bonds and reduce TGA to zero, which will inject $1 trillion of liquidity into the market; second, transfer more borrowing to short-term Treasury bills, thereby withdrawing $400 billion from the overnight reverse repurchase facility (RRP) to inject liquidity into the market; third, combine the first two practices, do not issue long-term bonds, only issue short-term Treasury bills, and consume TGA and RRP at the same time, which will inject $1.4 trillion of liquidity into the market. Hayes emphasized that the Federal Reserve has become irrelevant, and Yellen's role will become crucial. If any of the above three options occurs, it will drive the stock market up, and more importantly, it will accelerate the return of the cryptocurrency bull market. Hayes called on the market to respect the influence of "bad girl" Yellen.

Original｜Odaily Planet Daily

Author: jk

Against the backdrop of the rapid development of digital currency and blockchain technology, the legal conflict between the U.S. Securities and Exchange Commission (SEC) and cryptocurrency companies has become increasingly fierce.

On Thursday, April 25, U.S. time, Ethereum development company ConsenSys sued the SEC for attempting to classify Ethereum as a security, which attracted widespread attention. ConsenSys filed the lawsuit in the U.S. District Court for the Northern District of Texas.

Litigation

ConsenSys wrote in the lawsuit that the SEC is attempting to regulate ETH as a security, even though ETH does not possess any of the attributes of a security — and even though the SEC has previously told the public that ETH is not a security and is not within the SEC’s statutory jurisdiction.

Original author: Donovan Choy, former Bankless analyst

Compiled by: Odaily Planet Daily Azuma

Editor's Note: Earlier this month, USDe developer Ethena Labs announced the launch of the second season of the Sats event. The new event will cooperate with Ethena to use BTC as a supporting asset. It is expected to last until September 2 (5 months) or until the supply of USDe grows to US$5 billion, whichever comes first.

As the most popular stablecoin project in the market, Ethena Labs' popularity reached its peak with the TGE of ENA. Currently, the full circulation valuation (FDV) of ENA exceeds 13 billion US dollars. For users who are interested in participating in the project, in addition to directly purchasing ENA in the secondary market, the most efficient way is to earn subsequent ENA rewards through the second season event Sats.

Odaily Planet Daily News According to a court ruling by the U.S. SEC against Terraform Labs (TFL), the company announced adjustments to its business. TFL said it expects to receive a behavioral injunction soon, prohibiting it from conducting certain activities in the United States. The company added that it will prepare for the ban, prohibiting U.S. users from accessing some products and features starting the week of April 28. TFL called the development "frustrating" and said it was "opposed to geo-blocking in principle," but had no choice but to adapt. This policy change will not affect some projects, including Alliance (an open source Cosmos SDK module) and the Terra blockchain itself. Due to the ban, TFL will also begin withdrawing $23.8 million worth of LUNA liquidity from three platforms (Astroport, Ura, and White Whale) on April 26, and will store the withdrawn LUNA in a multi-signature account through bankruptcy procedures. (Crypto Slate) Earlier, after a jury found Terraform Labs and Do Kwon liable for civil fraud charges in a lawsuit with the U.S. SEC, the SEC filed a motion requiring them to pay $5.3 billion in illegal gains and civil penalties.

Odaily Planet Daily News Bitcoin L2 project BEVM announced on the X platform that it has received investment from Bitmain to explore more possibilities of Bitcoin L2 and Bitcoin ecology. It is reported that BEVM has been launched on the mainnet at the end of March. Earlier news, BEVM announced on the X platform that it had completed seed round financing and part of the A round financing, with a financing amount of tens of millions of US dollars. Nearly 20 institutions including ArkStream Capital, RockTree Capital, Waterdrip Capital, ViaBTC Capital, Satoshi Lab, Web3port, Cogitent Ventures, MH Ventues, Mapleblock, Electrum Capital, Zephyrus Capital, Lotus Capital, 7UPDAO, TimeTells, etc. participated in the investment, and the post-investment valuation was 200 million US dollars.