Compiled by: Fairy, ChainCatcher
Important Information:
Watcher.Guru: ICBC praises the development of Bitcoin and Ethereum, comparing Bitcoin to gold
Trump: I hope all remaining Bitcoins are made in the U.S.
Vitalik proposes expanding cryptocurrency functionality in response to meme coins continuing to dominate narratives
Trump Pledges Support for Crypto Mining Operations in Washington, DC
Bithumb announces the launch of ICP Korean Won trading pairs
The Federal Reserve will announce its interest rate decision and policy statement at 02:00 tomorrow morning.
Taiwan will establish a VASP industry association tomorrow and is expected to issue a draft law on virtual asset management by the end of the year
Victory Securities announced that investors can use the VictoryX APP to deposit and withdraw USDT and USDC
Data: OKX repurchase and destruction wallet received 5.73 million OKB in the past 2 hours, equivalent to about 259 million US dollars
“What important events have occurred in the past 24 hours?”
Data: OKX repurchase and destruction wallet received 5.73 million OKB in the past 2 hours, equivalent to about 259 million US dollars
According to Spot On Chain monitoring, as part of the ongoing 24th destruction event, the OKX buyback and destruction wallet received 5.73 million OKB ($259 million) in the past 2 hours.
Since May 15, 2019, the OKX team has repurchased a total of 97.92 million OKB (now worth US$4.42 billion), which are destroyed every 3 months.
Victory Securities announced that investors can use the VictoryX APP to deposit and withdraw USDT and USDC
According to Hong Kong News, Hong Kong brokerage Victory Securities announced the launch of fixed-rate USDT and USDC access functions, becoming the first brokerage in Hong Kong to provide this service. The function is currently open to professional investors, and has launched access services for cryptocurrencies BTC and ETH to facilitate retail investors to deposit and withdraw cryptocurrencies.
Watcher.Guru: ICBC praises the development of Bitcoin and Ethereum, comparing Bitcoin to gold
According to WatcherGuru, the Industrial and Commercial Bank of China (ICBC) praised the development of Bitcoin and Ethereum in a recent report, comparing Bitcoin to gold and emphasizing its rapid growth in the digital economy, while calling Ethereum "digital oil," pointing out that its ecosystem drives numerous Web3 applications and projects in a growing market.
Vitalik proposes expanding cryptocurrency functionality in response to meme coins continuing to dominate narratives
Ethereum co-founder Vitalik Buterin proposed several directions for expanding and improving the functions and scope of cryptocurrencies in response to the phenomenon that Meme coins continue to dominate narratives:
zk reputation/identity/credentials;
p2p cross-border payments (lower fees and user experience improving rapidly in this cycle);
Decentralized social networking;
Prediction markets (actually available in this cycle);
privacy;
Enterprise applications implemented through zk validiums;
zk+ censorship-resistant voting.
Taiwan will establish a VASP industry association tomorrow and is expected to issue a draft law on virtual asset management by the end of the year
According to Juheng.com, Peng Jinlong, chairman of the Taiwan Financial Supervisory Commission, said that virtual assets and trading businesses (VASPs) will be gradually brought under supervision in four stages. The VASP industry association will be established tomorrow (June 13). Self-regulatory norms will be formulated and penalties will be added to strengthen self-regulation. It is expected that by the end of December this year, a draft of the special law on virtual asset management will be proposed, and a regulatory notice and public hearing will be held. The draft special law will be submitted to the Yuan before June next year. The Financial Supervisory Commission has been designated by the Executive Yuan as the competent authority for virtual assets with "financial investment or payment nature", so it has taken the lead in bringing important parts under supervision. The future special law will focus on safety and consumer protection, while also paying attention to market development. According to China Times News, the Taiwan Financial Supervisory Commission pointed out that the virtual asset industry will be regulated in four stages, and it has now reached the third stage.
Brazil's largest bank Itau Unibanco opens cryptocurrency trading services to all users
According to Bitcoin.com, Itau Unibanco, the largest bank in Brazil and Latin America, has opened its cryptocurrency trading services to all users. Through the bank’s internal investment platform Ion, customers can buy BTC and ETH, a feature that was previously only available to certain users.
Trump: I hope all remaining Bitcoins are made in the U.S.
According to Tree News, former US President Trump expressed his hope that all remaining Bitcoins would be made in the United States. Earlier, Trump met with representatives of US Bitcoin mining companies and promised to support the crypto mining business.
Trump Pledges Support for Crypto Mining Operations in Washington, DC
US presidential candidate Donald Trump met with Bitcoin Magazine CEO and representatives of US Bitcoin miners and pledged his support for crypto mining operations in Washington, D.C. In addition, Donald Trump told Bitcoin miner CleanSpark co-founder that he liked what they were building.
Bithumb announces the launch of ICP Korean Won trading pairs
According to an announcement by South Korean cryptocurrency exchange Bithumb, Internet Computer (ICP) officially launched its Korean won trading market (KRW Market) today. Deposits of ICP tokens will begin at 2 pm Beijing time (3 pm Korean time), and trading and withdrawals will be open at 5 pm Beijing time (6 pm Korean time), with a base price of 13,900 won. Bithumb pointed out that this launch only supports the Internet Computer network, and deposits from other networks will not be accepted.
The Federal Reserve will announce its interest rate decision and policy statement at 02:00 tomorrow morning.
According to the schedule, the Fed will announce its latest interest rate decision and monetary policy statement at 2:00 a.m. Beijing time (June 13) on Thursday, and the U.S. Department of Labor will release the latest inflation data a few hours earlier. Powell's press conference will be held at 2:30. It is widely expected that the Fed will keep the benchmark interest rate unchanged at the 5.25%-5.50% range set in July last year.
Ava Protocol Completes $10 Million Seed Round, Polygon Founder and Others Participate
According to CoinDesk, Ava Protocol (formerly OAK Network) has completed a $10 million seed round of financing, with Electric Capital, Taisu Ventures and Polygon founder Sandeep Nailwal participating. The new funds will be used to develop its Eigenlayer AVS for private autonomous transactions on Ethereum.
The ETF Store President: It would be surprising if the S-1 application for the Ethereum spot ETF is not approved at the end of this month
Nate Geraci, president of The ETF Store, posted on social media: “Although no progress is known yet, it would be surprising to find that the Ethereum spot ETF S-1 filing is not approved by the end of June... (SEC) has no reason to delay. A lot of work has been completed on the ETH futures ETF and the spot BTC ETF.”
OKX will gradually delist XRP and LTC delivery contracts
According to the official announcement, considering market reasons and user needs, OKX plans to gradually stop the generation of XRP and LTC currency-based and USDT-based delivery contracts in the near future, and officially decommission the XRP and LTC delivery contracts at 4:00 pm on December 27, 2024. This decommissioning applies to the web, mobile and API. The specific plan is as follows: Starting from June 21, 2024 (UTC+8), no sub-weekly delivery contracts will be generated; starting from September 27, 2024 (UTC+8), no sub-quarterly delivery contracts will be generated; the contracts that have been traded online will not be affected, and users can trade normally.
CMT Digital is raising $150 million for its fourth fund
According to FORTUNE, venture capital firm CMT Digital started raising $150 million for its fourth fund a month ago. Gerald Brant, who oversaw the financing, served as head of capital formation at CMT Digital. Before joining CMT Digital, Gerald Brant held the same position at BlockTower Capital and Pantera Capital. If successfully raised, the fourth fund will be the company's largest fund to date. The first three raised $25.5 million, $130 million, and $100 million, respectively.
Data: Today’s trading volume of 6 Hong Kong virtual asset ETFs is approximately HK$20.95 million
Hong Kong stock market data shows that as of the close, the trading volume of today's 6 Hong Kong virtual asset ETFs was approximately HK$20.95 million, of which: Hua Xia Bitcoin ETF (3042.HK) had a trading volume of HK$5.26 million; Hua Xia Ethereum ETF (3046.HK) had a trading volume of HK$2.3 million; Harvest Bitcoin ETF (3439.HK) had a trading volume of HK$4.71 million; Harvest Ethereum ETF (3179.HK) had a trading volume of HK$2.02 million; Bosera HashKey Bitcoin ETF (3008.HK) had a trading volume of HK$5.47 million; Bosera HashKey Ethereum ETF (3009.HK) had a trading volume of HK$1.19 million.
OKX Ventures announces lead investment in codatta, a decentralized data infrastructure protocol built for developers
OKX Ventures announced that it has led the investment in codatta, a decentralized basic data protocol built for developers. Codatta is the first decentralized data protocol that aims to build basic data facilities and comes with scientific confidence, designed to serve developers and protocols. Codatta's goal is to allow Web3 users to monetize data and contribute to building public data without compromising privacy. It has a large network of data contributors to improve data confidence through AI-verified evidence, multi-party cross-references, and pledge confidence. Developers can create Web3 native applications driven by machine learning models in areas such as anti-crime networks, on-chain advertising, and universal recommendation system layers across DApps and credit-based lending products.
"What are the interesting articles worth reading in the past 24 hours?"
Vitalik’s blog post: What challenges does Ethereum’s L2-centric ecosystem face?
Two and a half years ago, I wrote in “Endgame” that different paths forward for blockchain looked very similar, at least technically. In both cases, there are a large number of transactions on the chain, and processing these transactions requires: (1) a large amount of computation; and (2) a large amount of data bandwidth. Even with powerful software engineering and Verkle trees, ordinary Ethereum nodes (such as the 2 TB reth archive node running on my computer right now) are not powerful enough to directly verify the huge amount of data and computation. In contrast, in both “L1 sharding” and Rollup-centric solutions, ZK-SNARKs are used to verify computation and DAS is used to verify data availability. Whether it is L2 sharding or Rollup, DAS is the same, and ZK-SNARKs technology is the same. They are both smart contract code and a function of the protocol. In a real technical sense, Ethereum is sharding, and Rollup is sharding.
A graduate serves as CEO, what is the background of Nexus, which received a $25 million investment led by Pantera?
It is well known that crypto VCs prefer infrastructure projects, so it is not surprising that they invest heavily in zero-knowledge proof-related infrastructure.
But investing in a project whose CEO is a recent graduate is somewhat surprising.
In Pantera's open letter "Why We Invest in Nexus" on the same day, Pantera believes that Nexus' greatest advantage actually lies in its team composed of professional cryptography and computer talents.
The CEO of the project team is Daniel Marin, a recent graduate from Stanford University.
Do top Western VCs also prefer the halo of prestigious schools?
Forbes: FTX creditors are still not satisfied after receiving full compensation?
Last month, lawyers overseeing FTX's bankruptcy case filed a reorganization plan that would not only fully compensate almost all customers but also give them an additional 18% interest. If most creditors and the bankruptcy judge agree to the plan, checks for compensation will be mailed within two months.
The FTX compensation is a large sum, as is typical in bankruptcy cases. Few creditors have been paid in cash, and some have had to wait years to recover a small portion of their claims. FTX creditors are among the lucky ones, but not everyone is ecstatic.
Some are upset because they can’t get their original cryptocurrency back from the exchange. Instead, customers will be compensated in U.S. dollars based on the value of the cryptocurrency they held when FTX filed for bankruptcy in November 2022, when cryptocurrency prices were hit by industry chaos. Since then, Bitcoin has nearly tripled and many other tokens have hit new highs. For investors whose cryptocurrency was trapped on the exchange, it’s a lost opportunity. Many lawyers, including those working for the current FTX, believe that this is how bankruptcy works, but creditors unanimously claim that they were wrongly deprived of their property, and that’s not the only thing they are upset about.
