U.S. President Joe Biden on Friday overturned the congressional resolution to "repeal SAB 121." SAB 121 is a controversial accounting guidance from the U.S. Securities and Exchange Commission (SEC) that requires financial institutions holding customers’ cryptocurrencies to record them as liabilities on their balance sheets. Critics of the guidance say it will make it very difficult for financial institutions such as banks to work with cryptocurrency companies.​

In a statement announcing his veto, Biden said:

“My administration will not support measures that endanger the well-being of consumers and investors, and appropriate guardrails to protect consumers and investors are necessary to capitalize on the potential benefits and opportunities of cryptoasset innovation.”

Japanese cryptocurrency exchange DMM Bitcoin announced that they detected an unauthorized leak of Bitcoins in its platform wallet at 1 pm on Friday (31st). The number of illegally leaked Bitcoins was 4502.9 BTC, worth approximately 48.2 billion. Japanese yen (equivalent to approximately US$308 million).

DMM Bitcoin stated in the announcement that it is still investigating the details of this loss and has taken measures to prevent unauthorized leaks. To ensure additional security, some trading and withdrawal functions on the platform will be restricted.

DMM Bitcoin also stated that all Bitcoin deposits of its customers will be fully guaranteed "as we will receive funds equivalent to the leaked BTC with the support of the group company". The parent company of DMM Bitcoin is Japanese e-commerce group DMM Group.

Cryptocurrency researcher Aylo took to X today to share some thoughts he realized while discussing cryptocurrency investing with friends recently.

I've been having quite a few conversations with a friend that has life changing money in crypto currently.He's been in this position before, but lost/rode it all down last cycle. Here are some thoughts from those conversations:I don't know how long this bull market lasts.… pic.twitter.com/RjVXEPvp0n

— Aylo (@alpha_pls) May 31,

Aylo said his friends had huge fortunes in cryptocurrencies in the past, only to lose them in the last cycle’s bear market. Now, this friend has once again relied on this bull market to regain life-changing funds, and this time he must learn from his mistakes and make different choices. Here are some of the ideas Aylo learned during the exchange:

Contributors in the zero-knowledge (ZK) field, including StarkWare and Polygon, publicly condemned the Ethereum Layer 2 network zkSync's attempt to register "ZK" as a trademark, calling the move a threat to the encryption community and demanding the withdrawal of the application.

The dispute stems from a dispute between the cross-chain protocol Polyhedra Network and zkSync over the token code. Polyhedra issued the “ZK” token as early as March this year. However, Bybit exchange announced in an announcement last week that it would list zkSync’s token ZK, which immediately caused Polyhedra’s dissatisfaction.

Polyhedra later made it clear on the X platform that zkSync intended to snatch their token code, claiming that zkSync had never contacted Polyhedra and continued to spread rumors among different entities.

Each Ethereum L2 has a unique "soul".

By Vitalik Buterin

Compiled by: Peng Sun, Foresight News

In my recent article on the differences between L1 and L2 scaling, I ended up roughly concluding that the most important difference between the two approaches is not technical, but organizational (using the word in the same sense The field of "industrial organizations" is similar): it is not about what can be built, but about what will be built, because of how the boundaries between different parts of the ecosystem are drawn, and how this affects people's incentives and ability to act. In particular, an L2-centric ecosystem is inherently more diverse and more naturally drives different approaches to scaling, EVM design, and other technical features.

The meme coin rally has been rotating across ecosystems in recent days, from Ethereum to Solana, and now, the hype appears to be flowing into the Bitcoin ecosystem. According to market trading data, ORDI, the first token issued based on the BRC20 token standard, exceeded $50 this afternoon, rising by more than 20% in the past 24 hours.

At the same time, currencies related to the "Runes Protocol" that was deployed following the Bitcoin halving in May this year have also experienced significant rebounds in recent days. According to data from GeniiData, rune trading volume has picked up since May 20.

Steven, investment partner of Amber Group, quoted a table produced by the transaction data of the over-the-counter trading platform OFX, which shows that early investors in tokens such as SEI, ACX, PORTAL, WLD and TIA all sold their token shares over-the-counter at a discount of more than 50% (these Since the token has not yet been unlocked, it can only be traded through OTC).

It is worth mentioning that although LayerZero has not yet issued coins, the price of over-the-counter transactions is already lower than the latest round of financing.

Steven said:

"Although it looks like it's coordinated (the high valuations and big discounts shown in the chart seem to be some kind of agreement behind the scenes to operate the market this way), I think this is mainly due to low liquidity. It is a combination of mass issuance, speculative buyers and venture investors eager to cash out, but there are indeed some specific small groups operating in it.”

According to CoinDesk, JPMorgan said in a research report on Thursday (30th) that demand for Ethereum spot ETFs will be much lower than similar Bitcoin fund products for a variety of reasons.

JPMorgan analysts led by Nikolaos Panigirtzoglou wrote:

“Bitcoin has a first-mover advantage that could saturate the overall demand for crypto assets generated by spot ETF approval.”

The U.S. Securities and Exchange Commission (SEC) last week approved a 19b-4 proposal related to an Ethereum spot ETF, but investors must still wait for approval of the S-1 registration statement filed by the fund issuer before they can begin trading such fund products. The SEC has asked issuers of ether spot ETFs to submit their draft S-1 documents by Friday, The Block reported on Thursday, citing two people familiar with the matter. Bloomberg analysts expect a listing by the end of June to be a reasonable possibility.

The U.S. Securities and Exchange Commission (SEC) requires issuers of Ethereum spot ETFs to submit their draft S-1 documents by Friday, The Block reported, citing two people familiar with the matter. After that, the SEC will provide its first round of comments to allow for further revisions.

VanEck filed an amended version of its Form S-1 on the day the Proposal 19b-4 related to the Ethereum spot ETF was approved last week. BlackRock also filed an amended S-1 on Thursday, detailing that its ETF will receive $10 million in seed funding.

Previously, U.S. presidential candidate Trump was charged with 34 felony counts for allegedly forging business documents to conceal hush money payments to adult film stars. The trial lasted for more than a month. The verdict was released yesterday. 34 counts of forging business documents were released. All felony charges recorded were found guilty and entered the sentencing stage. However, despite being found guilty, Trump still maintained his innocence and called the outcome of the trial a "disgrace." Trump said:

"This was a rigged trial presided over by a corrupt judge. This was something the Biden administration did to undermine or harm a political opponent... The real trial will be decided by the people on November 5."

Bloomberg reported, citing people familiar with the matter, that U.S. presidential candidate Donald Trump is discussing cryptocurrency-related policies with Tesla CEO Elon Musk.

According to a person familiar with the matter, the Trump campaign has also discussed the possibility of inviting Musk to speak at the Republican National Convention, but it is still far from making a final decision. It is not clear whether Trump has asked Musk to speak. Scott proposed this idea.

In this regard, Musk himself denied the content of this report on X and bluntly stated that he had not discussed cryptocurrency with Trump. He said:

Fundamental investing basically makes no money.

Written by: TechFlow

There are always legends circulating in the market about certain diamond players getting huge returns. It seems that achieving financial freedom only requires two simple steps: buy and wait.

But when it comes to personal practice, being a diamond player requires quite high personal will. People always say "the rewards of waiting are rich", but the reality is mostly: waiting and waiting to find that the rewards of others are rich, and when you finally open your hands, you find that there is only a handful of dust that disappears in the wind.

Compared with BTC, which is less volatile, more people choose to hold a variety of "value coins" for the long term, hoping that the value of the altcoins they hold will be discovered one day and obtain returns that far exceed the market.

The development team of the sustainable storage protocol Arweave announced the launch of a parallel computer solution called AO at a press conference in February this year, pointing out a clear direction for the future development of the project. Information about the new token AO was not available at the time. Not much information is disclosed. But just today, the official finally released the rules for the issuance of AO tokens.

AO will have its own token.Existing models are broken. A radically new approach:1️⃣ $AO will be 100% fair launch. Zero pre-mine, pre-sales, preferential access etc.2️⃣ Every single token will be minted by bridging to AO, holding $AR, or building.3️⃣ 21m, 4 year halving. pic.twitter.com/tK5XRLk6NB

Payment giant Mastercard announced on Wednesday (29th) that its "Mastercard Crypto Credential" has been launched in the first peer-to-peer pilot transaction. The network supports real-time transactions on Bit2Me, Lirium and Mercado Bitcoin exchanges. transactions to enable cross-border payments on both sides of the Atlantic.

The launch of the peer-to-peer (P2P) trading platform is part of the payments company’s push to leverage digital assets for cross-border payments, Mastercard said. Argentina, Brazil, Chile, France, Guatemala, Mexico, Panama, Paraguay, Peru, Portugal Users in , Spain, Switzerland and Uruguay will be able to make cross-border and domestic transfers across multiple currencies and blockchains.

According to information shared by on-chain data analysis company Nansen, the wallet address controlled by Singapore’s DBS Bank – 0x9e927c02c9eadae63f5efb0dd818943c7262fb8e – holds 173,753 ETH, which is equivalent to US$647 million at the current market price, and Nansen estimated based on the timing of the inflow of Ethereum. , the address currently has a floating profit of over US$200 million.

We've identified this $650m $ETH Whale holding 173.7k ETH as DBS, the largest bank in Singapore with assets totaling S$739 billion as of 31 Dec'23This address has made over $200m by holding ETH… Track the address on Nansen here: 0x9e927c02c9eadae63f5efb0dd818943c7262fb8e pic.twitter.com/2rkM3cZ6gJ

In its first risk assessment report analyzing illegal finance and non-fungible tokens (NFTs), the U.S. Department of the Treasury stated that although NFTs are rarely used to finance terrorist activities, they can easily lead to fraud and criminals will use NFTs to money laundering. The agency believes that relevant authorities should consider developing rules or guidelines for NFTs.

The U.S. Treasury Department said in a statement:

"The assessment found that NFTs are highly susceptible to fraud and fraud, and are easily stolen. The report determined that criminals can use NFTs to launder the proceeds of predicate crimes, and often use them in conjunction with other means to conceal illegal criminal proceeds. Source. It also found little evidence so far of NFT misuse by terrorists or proliferators, as opposed to scammers.”

Recently, celebrities in the United States have become popular with meme coins. In the past week, many celebrities have launched meme coins. These include: trans media personality Caitlyn Jenner, American celebrity Iggy Azalea, adult content creator Kazumi, as well as rappers such as Rich the Kid, Davido, Trippie Redd, Lil pump, Moneybagg Yo, and even NBA star Paul Millsap today Posting relevant tweets seems to be warming up the currency issuance.

Yo @IGGYAZALEA, let me know more about @solana!I want to introduce it to some of my NBA boys…

— Paul Millsap (@Paulmillsap4) May 29, 2024

According to “CoinDesk”, Cathie Wood, founder of the asset management company ARK Invest, said that cryptocurrency has now become an issue in the US election, which is also the key document for the Ethereum Spot ETF application to be suddenly and unexpectedly approved. reason.

Wood said in an interview at the "Consensus 2024" event:

"The original interpretation was that it would not be approved. It would definitely not be approved. If it were approved in the regular way, we would get questions from the SEC (U.S. Securities and Exchange Commission). Before this, no one had received questions from the SEC. .

OCEAN, a Bitcoin mining pool company co-founded by Bitcoin core developer Luke Dashjr, announced on Wednesday (29th) that the company has established an entity called "OCEAN MINING S.A. de C.V." in El Salvador as its international business development center. The entity will be headquartered in the capital, San Salvador, and plans to use the center to continue advancing the decentralization of Bitcoin mining around the world.

OCEAN President Mark Artymko said:

“To further our decentralization efforts, we needed a global base, and El Salvador was the obvious choice. With places like Venezuela and the European Union legislating to ban Bitcoin mining, El Salvador’s political stance has been stark. Contrast is a beacon of hope for the industry.”

Citing people familiar with the matter, The Block reported that U.S. President Joe Biden’s re-election campaign has begun reaching out to participants in the cryptocurrency industry to seek guidance on the “cryptocurrency community and future cryptocurrency policy.” It is reported that this contact marks a "change" in Biden's attitude towards the cryptocurrency industry.

According to sources, this series of contacts began about two weeks ago, at the same time that the White House announced that "President Biden plans to overturn the repeal resolution of the controversial crypto asset accounting regulation "SAB 121", which is a controversial crypto asset accounting regulation. The controversial regulations may prevent financial institutions from providing crypto asset custody services. As this incident has been strongly opposed by cryptocurrency advocates, the Biden camp has become increasingly aware of the impact of cryptocurrency-related issues on the next presidential election and has begun to Connect with industry experts.