● CZ’s handwritten letter: Binance’s sixth anniversary, looking forward to three major trends in the future
On the occasion of the sixth anniversary of the founding of Binance, Binance founder and CEO Changpeng Zhao (CZ) issued a personal letter on the Binance blog, reviewing his thoughts over the past six years and looking forward to three major trends in the future:
Traditional finance (TradFi) such as BlackRock, Citadel, and Fidelity have entered the crypto market in a big way, which also confirms the development prospects of this technology and industry. They will gradually promote the popularization of crypto assets in the institutional market.
The development of DeFi will continue to accelerate, and newer wallet technologies will make it easier for users to hold crypto assets on their own. This also provides a channel for people who cannot access traditional financial (or banking) services to enter the financial market. I firmly believe that in the next 6 years or so, the market size of DeFi will definitely exceed that of CeFi.
Regulation will become clearer and more regulated trading platforms will be available. Although there is still much uncertainty, many countries will provide clearer guidance for the crypto market at a faster pace. There is no doubt that those countries that can do this first will enjoy a huge advantage that will last for centuries. We are at a critical moment in history.
● opBNB latest progress: integrated with Truffle, Foundry, Hardhat, and Remix developer platforms
BNB Chain released the latest progress of opBNB, a Layer 2 network based on OP Stack. opBNB has cooperated with blockchain infrastructure provider NodeReal. Users can access the opBNB browser through the NodeReal platform. opBNB Scan provides a user-friendly interface for exploring and analyzing opBNB transactions, addresses, and other related information. In addition, opBNB has been integrated with Truffle, Foundry, Hardhat, and Remix developer platforms, and supports MetaMask, Trust Wallet, Particle Network, and Math Wallet wallets. At the same time, opBNB has also integrated the Polyhedra cross-chain bridge and cooperated with AvengerDAO to enhance security.
● US SEC officially approved BlackRock and other Bitcoin ETF applications
Bloomberg ETF analyst James Seyffart tweeted that the U.S. Securities and Exchange Commission approved the Bitcoin ETF applications from BlackRock, VanEck, Invesco/Galaxy Digital, Fidelity, and WisdomTree.
According to Bloomberg ETF analyst James Seyffart, this officially kicks off the SEC review process. Seyffart noted, “This is just one step in the process, and it’s possible even if Gensler/SEC plans to reject them next month.”
● Asset management company Monochrome revised its application for the Australian Stock Exchange's spot Bitcoin ETF
Australia-based cryptocurrency investment firm Monochrome Asset Management has submitted an updated Bitcoin spot ETF application to the Australian Securities Exchange (ASX) through its partner Vasco Trustees, Cointelegraph reported.
According to the company’s July 14 announcement, the ETF — Monochrome Bitcoin ETF (IBTC) — will be able to provide Australian retail investors with direct exposure to Bitcoin (BTC) and Ethereum (ETH).
● BlackRock CEO: Cryptocurrency is an international asset that transcends any currency and currency valuation
According to Jinshi.com, the CEO of BlackRock (BLK.N) said that cryptocurrency is an international asset that will surpass any currency and currency valuation.
● Hong Kong virtual asset rating agency HKVAC launches HKVAC Global Large Cryptocurrency Index and announces quarterly adjustment results
According to Foresight News, Hong Kong virtual asset rating agency HKVAC launched the HKVAC Global Large Cryptocurrency Index, which aims to reflect the performance of widely investable virtual assets in the market. At the same time, HKVAC also announced the quarterly adjustment results of the HKVAC Large Cryptocurrency Index (excluding Bitcoin, Ethereum and stablecoins) as of July 14, 2023. The adjustment will take effect at 16:30 (Friday) on July 21, 2023. The above-mentioned new index and the quarterly adjustment results of the index will be published on the HKVAC official website.
● Multichain: The team was forced to stop operations and is currently unable to shut down the front-end website. Users are reminded not to continue using the service.
Multichain officially released a long article stating that CEO ZhaoJun is still out of contact. The team contacted the MPC node operators after he lost contact and learned that their operational access keys to the MPC node servers had been revoked. In addition, these MPC node servers, like other ordinary servers, are actually running under ZhaoJun’s personal cloud server account. Team members do not have access to ZhaoJun’s personal cloud server account and therefore cannot log in to these MPC servers.
On July 7, user assets locked on the MPC address were abnormally transferred to an unknown address. Due to the lack of alternative sources of information and corresponding operating funds, the team was forced to cease operations. If there are any further notices and progress, the team will update the community.
In addition, the Multichain team reminds users that the team cannot access the domain account to redirect or shut down the front-end website. Please help spread the word and inform users not to use Multichain services anymore.
● Haru Invest: Since the scale of B&S's recoverable assets is not fully determined, it plans to use internal company assets for compensation
According to an official statement from Haru Invest, since the specific scale of recoverable assets held by B&S Holdings has not been fully determined, it is currently difficult to recover, so it is considering using the company's internal assets for compensation in case the recovery of assets held by B&S takes longer. To this end, Haru Invest is sorting out the database of claims and debts and reviewing the asset allocation plan. At the same time, Haru Invest stated that a compensation plan needs to be formulated for each product. At present, after suspending deposit and withdrawal services, the team has suspended all operations, restricted access to company assets and accounts, and terminated the contracts of all employees to prevent damage and loss related to assets and data held by B&S, and minimize operating costs to protect the loss of customer assets.
In addition, since the amount of customer assets is determined based on a specific point in time in the database after the suspension of deposits and withdrawals last month, the team will inform users in advance that future payments may not be included in the customer asset database if there are system errors or additional transactions, such as earning income. Starting this week, Haru Invenst is preparing to organize the database to identify customer claims and debts, organize and preserve returned assets, and develop an asset distribution plan.
● U.S. District Judge Sets Bail for Former Celsius CEO at $40 Million
A U.S. district judge set bail for former Celsius CEO Alex Mashinsky at $40 million following his arrest on fraud charges on Thursday, CoinDesk reported.
Court documents state that after his arrest, Alex Mashinsky pleaded not guilty to seven counts involving misleading investors and manipulating the price of CEL tokens. Under the agreement, Alex Mashinsky will be restricted from traveling and will not be able to open new bank or cryptocurrency accounts. His wife will sign the bond, and the identity of another co-signer has not yet been determined. In addition, financial claims on his New York City residence and bank accounts will be used as security.
"Alex Mashinsky vehemently denies the allegations made against him and looks forward to vigorously defending himself against these baseless charges in court," said attorney Alex Mashinsky.
● As the US Congress considers new legislation targeting the stablecoin industry, Circle is stepping up its messaging
As the U.S. Congress considers new legislation targeting the stablecoin industry, stablecoin issuer Circle aims to strengthen its messaging, The Block reported. On Thursday, the company released a new 2-minute video in which it argues that strong regulation is needed if the United States wants a digital dollar or dollar stablecoin to become a global reserve currency.
“We are working hard to educate members of Congress on these issues as this may move from the HSFC Act to law and be considered by the full House after the summer recess,” said Circle CEO Jeremy Allaire. “We are at a critical juncture in U.S. policy developments, with an expected imminent vote in Congress, and we are trying to make a simple and compelling case to economic and policy leaders about the importance of having stablecoin law in the United States,” he continued. Allaire added that the company’s messaging will be seen across various social media and digital channels.
