Headlines

Blur updates bidding points mechanism: transferring NFTs to gain loyalty, fake bids, etc. will no longer earn BLUR rewards

NFT marketplace Blur has updated the Bidding Points mechanism, where transferring NFTs to gain loyalty, cross-trading, and fake bidding will no longer earn BLUR rewards. Loyalty is crucial to Season 2, and transferring NFTs to other markets will reduce loyalty. This will not be reflected in the UI, but transactions transferred to other markets will be tracked in the backend, thereby reducing the loyalty of the transferor. In addition, cross-trading and fake bidding will be filtered out starting from Season 2. The top series still earns the most points, but the points have also been updated to be distributed more evenly between series.

Afterwards, "Big Brother" Huang Licheng transferred 2,941 ETH to Blur to continue earning points. Huang Licheng had previously expressed dissatisfaction with the points system, and then withdrew funds from Blur and stopped earning points.

Binance.US Update Announcement: The list of delisted trading pairs has been reduced to 10, and USDT advanced trading pairs will no longer be delisted

According to the official announcement, Binance.US released the following update: Based on community feedback, Binance.US will no longer delist any USDT advanced trading pairs, all cryptocurrencies and USDT trading pairs are still tradable, and only some BTC and BUSD advanced trading pairs will be deleted. Binance.US reminded that trading of all cryptocurrencies is still available, and only some advanced trading pairs are affected. In addition, Binance.US will simplify buying, selling and conversion products, and reduce the number of supported conversion trading pairs to 226. The maximum order amount for buying, selling and conversion has been updated to US$10,000. Binance.US has suspended its OTC portal service, and the resumption time will be notified separately in the coming weeks and months. Earlier news, Binance.US will delist some trading pairs (more than 100) and suspend OTC trading.

Cryptocurrency

A whale address that has been dormant for more than 10 years was activated today, and all 1432.93 BTC were transferred to the new address

Odaily Planet Daily News According to Lookonchain monitoring, a BTC whale address that had been dormant for 10.2 years was activated today, and all 1432.93 BTC (worth $37.8 million) in the address were transferred to a new address starting with bc 1 psv. The address originally received these bitcoins on April 9, 2013, when the BTC price was only $195.4.

Curve’s native stablecoin crvUSD has been minted close to 14 million coins

Data from Curve’s official website shows that the minting quantity of Curve’s native stablecoin crvUSD is close to 14 million, of which 10.0075 million are based on sfrxETH and about 3.8264 million are based on wstETH.

Data: Yesterday, a certain address spent 3 million USDC to buy PEPE, and the current floating loss is 9.6%

According to Lookonchain monitoring, the whale address starting with "0x 31 f 5" purchased PEPE tokens 12 times within 24 hours yesterday, spending 250,000 USDC each time; a total of 3 million USDC was spent to purchase 2.58 trillion PEPE tokens at a unit price of 0.000001162 US dollars. The current floating loss is 9.6%, with a loss of about 290,000 US dollars. The address was created on May 17 and had previously received USDC from Binance through an intermediate wallet address (starting with 0x 24 b).

Coinbase has more than 70,000 ETH staked to be withdrawn, accounting for 79% of all withdrawal entities

Nansen data shows that as of June 8, the amount of ETH staked waiting to be withdrawn by Coinbase and Coinbase Custody is 70,057, accounting for about 79% of the total amount of staked ETH waiting to be withdrawn by all entities. As previously reported, Dune data shows that 35,807 cbETH have been redeemed since the U.S. SEC took enforcement action against Coinbase on June 6. Among them, the daily redemption volume on June 6 was 27,281 cbETH. It is reported that cbETH is Coinbase's Ethereum staked token.

Data: SEC has taken at least 17 cryptocurrency-related enforcement actions since FTX went bankrupt

In the six months following the bankruptcy of cryptocurrency exchange FTX, there has been a significant increase in cryptocurrency-related enforcement actions taken by the U.S. SEC. In the six months before FTX went bankrupt, the U.S. SEC took about six enforcement actions. In the six months following FTX’s bankruptcy on November 11, 2022, there were at least 17 SEC cryptocurrency-related enforcement actions, a 183% increase from the previous period. It is important to note that this analysis does not take into account the two lawsuits filed by the SEC against Binance and Coinbase. (Cointelegraph)

U.S. government objects to Bittrex's plan to return customer funds

Cryptocurrency exchange Bittrex is facing opposition from the U.S. government in its proposed plan to return customer cash and cryptocurrency, according to a court filing on Wednesday. The company’s U.S. arm filed for bankruptcy on May 8 after regulators accused it of operating an illegal securities exchange and reaching a settlement with the U.S. Treasury Department worth about $30 million over its business for clients in Iran, Cuba, and Crimea. Four days later, the company sought court permission for its customers to withdraw their assets. The U.S. Financial Crimes Enforcement Network (FinCEN) is owed $5 million, and the U.S. government said Bittrex should not play favorites. The U.S. government noted in the filing that it was “inappropriate to group creditors into sub-categories and exclude them from the confirmation hearing” and that Bittrex “has not demonstrated why the ownership of the cryptocurrency assets needs to be determined prior to confirmation of the (bankruptcy) plan.” (CoinDesk)

Project News

BAYC launches Mecha NFT HV Viewer "HV Viewer"

Bored Ape Yacht Club (BAYC) tweeted that the HV viewer "HV Viewer" has been launched. Users can connect their wallets to visit the Mecha NFT HV official website and view the Mecha NFT features through the HV Viewer.

Synthetix announces V3 spot market alpha release

Synthetix, a synthetic asset issuance protocol, said on Twitter that it has launched the V3 spot market Alpha version, allowing users to exchange V3 protocol stablecoins for synthetic assets. Synthetix said that there are currently no voting rights and inflation rewards for V3 stakers.

Moonbeam wins the 44th Polkadot parachain slot auction

The Moonbeam Foundation announced that Moonbeam won the 44th round of Polkadot parachain slot auction and Moonbeam's block production capacity will be extended to June 2025.

NFT protocol Enjin launches new mainnet Enjin Blockchain, proposes migration of ENJ tokens

NFT protocol Enjin has announced its transition to a new mainnet, "Enjin Blockchain". Following the transition, its Polkadot parachain Efinity has also been forked into the new mainnet, which will be called "Efinity Matrixchain" and will support the transition of its existing users. In addition, Enjin proposed that Enjin Coin (ENJ) migrate from the Ethereum network and become the native token of the Enjin Blockchain mainnet at a 1:1 ratio. Efinity Token (EFI) is proposed to merge with Enjin Coin (ENJ). (Cointelegraph)

Investment and Financing

Taiko completes $22 million financing, led by Sequoia China and Generative Ventures

Taiko, an Ethereum second-layer network based on zkRollup, has completed two rounds of seed financing totaling US$22 million. The first round of financing was US$10 million, led by Sequoia China, and ended in the third quarter of 2022. The most recent second round of financing was US$12 million, led by Generative Ventures. Other investors in Taiko Labs' two rounds of financing include IOSG Ventures, GSR and GGV Capital, as well as angel investors such as POAP founder Patricio Worthalter, and Ethereum Foundation's Tim Beiko and Anthony Sassano. Taiko did not disclose its valuation. (The Block)

Lens Protocol Completes $15 Million in Financing, Led by IDEO CoLab Ventures

Decentralized social protocol Lens Protocol has completed $15 million in financing, led by IDEO CoLab Ventures, with participation from Tencent, General Catalyst, Delphi Digital, Fenbushi Capital, Kraken Ventures, Varian, Blockchain Capital, Flamingo DAO, DAOJones, Punk DAO, DAO 5, Global Coin Research, etc. Angel investors include Uniswap CEO Hayden Adams, OpenSea co-founder Alex Atallah, entrepreneur and investor Balaji Srinivasan, The Sandbox co-founder Sébastien Borget, Polygon co-founder Sandeep Nailwal, etc. This round of financing will be used to help expand the ecosystem of the protocol.

Web3 gaming startup HyperPlay raises $12 million in funding led by Griffin Gaming Partners

Web3 game launch platform and multi-chain game aggregation store HyperPlay completed US$12 million in financing, led by Griffin Gaming Partners and Bitkraft Ventures, and participated by MetaMask's parent company ConsenSys, Ethereal Ventures, Delphi, Game 7, Mirana Ventures, Monoceros Ventures and others. HyperPlay plans to expand its scale, comprehensively enhance its flagship game launcher, and expand its international influence. (VentureBeat)

Global Policy

UK FCA to implement stricter crypto marketing regulations, effective October 8

The UK Financial Conduct Authority (FCA) will impose strict new rules on crypto advertising once regulations for the crypto industry are finalized, according to documents published on Thursday. The FCA said that under the new rules, cryptocurrencies will be classified as "restricted mass market investments," which will require any advertisements or promotions to contain "clear risk warnings" and prohibit investment incentives such as "refer a friend" or "rewards for bringing in new customers." If companies violate the FCA's upcoming marketing regulations, they may face up to two years in prison, a fine, or both. The new rules will take effect from October 8. (CoinDesk)

Character*Voice

Binance responds to "transferring nearly $70 billion through Silvergate and Signature": it does not involve customer funds and is a normal business process

According to new details disclosed in a document filed on Wednesday, Binance and related entities transferred about $70 billion through accounts at the now-defunct Silvergate Bank and Signature Bank from 2019 to this year, including "large amounts of funds" flowing in and out within a few days. A Binance spokesperson told The New York Times that the transfers did not involve customer funds and were conducted in the normal course of business. Separately, Silvergate directed that accounts related to Binance be closed in December, and by the end of March, the balances in those accounts were zero. (Bloomberg)

Coinbase Chief Legal Officer: No decision has been made on whether to delist any crypto assets

Coinbase Chief Legal Officer Paul Grewal said the company has not yet decided whether to delist any crypto assets as it faces a lawsuit from the SEC. (The Block)

Binance lawyer: Gary Gensler offered to serve as Binance consultant and has asked him to recuse himself from the action against Binance

Documents filed by the SEC on Wednesday show that lawyers from Binance's two law firms, Gibson Dunn and Latham Watkins, claimed that Gary Gensler had offered to serve as a consultant to Binance's parent company in 2019. At the time, Gensler was teaching at the MIT Sloan School of Management, and he was appointed SEC Chairman by President Biden in 2021. The lawyers said that before Gensler began pursuing Binance, he had been trying to "get close" to the company. Because of Gensler's relationship with CZ, Binance's lawyers said they had asked Gensler to recuse himself from any actions involving the company, and have not yet received any response from SEC staff. (CNBC)

CZ: Confirmed receipt of US District Court subpoena, but no need to appear in court, no need for FUD

FOX Business reporter Eleanor Terrett tweeted that Binance CEO CZ has been ordered to respond/reply to a subpoena from a U.S. District Court along with other entities named in the lawsuit. Terrett pointed out that CZ does not have to appear in person, but needs to respond within a specific time frame. CZ said: "I was told this is just part of the SEC compliance process, nothing new. I was also told that I did not have to appear in person. No FUD."