Review of this week: Spot Ethereum ETF is expected to be listed next week; Binance HODLer airdrop first project BANANA is launched
BlockBeats will organize the key industry news content of the week (7.15-7.21) in this article, and recommend in-depth articles to help readers better understand the market and learn about industry trends.
Spot Ethereum ETF will be listed on July 23
On July 16, according to Reuters, the U.S. Securities and Exchange Commission (SEC) has preliminarily approved at least three asset management companies (BlackRock, VanEck and Franklin Templeton) to start trading Ethereum spot ETFs from next Tuesday, and a total of eight asset management companies hope to launch such funds. Sources said that the premise of approval is that the applicant submits the final issuance documents to the regulator before the end of this week. One of the people said that all eight companies are expected to launch such funds at the same time. On the 18th, according to official SEC documents, the SEC has approved Grayscale Ethereum Mini Trust and ProShares Ethereum ETF, two Ethereum spot ETFs, to be listed on the Arca electronic trading platform of the New York Stock Exchange (NYSE). Issuers still need to wait for final comments on their respective S-1 documents before they can officially start listing spot products.
Source: SEC Commissioner Says Ethereum ETFs with "Pledges" Can Be Reconsidered
On July 17, Coinage founder Zack Guzmán posted on social media that U.S. Securities and Exchange Commission Commissioner Pierce revealed to him in an interview that Ethereum ETFs that can be "pledged" may be reconsidered by the SEC. Pierce said: "I think it's definitely something like staking, or any feature of the product... As far as I'm concerned, these can always be reconsidered."
Fed's bets on rate cuts continue to increase this year
This week, several Fed spokesmen, including Williams, Kugler, and Waller, said that the time for rate cuts is getting closer. On July 18, according to CME's "Fed Watch": The probability of the Fed keeping interest rates unchanged in August is 95.3%, and the probability of a 25 basis point rate cut is 4.7%. The probability of the Fed keeping interest rates unchanged by September is 1.9%, the probability of a cumulative 25 basis point rate cut is 93.5%, and the probability of a cumulative 50 basis point rate cut is 4.6%.
Worldcoin contributors' WLD lock-up period will be extended to 5 years
On July 16, according to the Worldcoin Foundation, the WLD tokens allocated to Worldcoin contributor Tools for Humanity were originally scheduled to be unlocked linearly every day starting on July 24, 2024. However, TFH will extend the unlocking schedule of 80% of WLD held by team members and investors from 3 years to 5 years. Grants for WLD verified World ID holders are not affected. Perhaps affected by this news, WLD continued to rise. The next day, WLD broke through $3, with a 24-hour increase of 40.78%. Related reading: "WLD token unlocking rules adjusted, the market reacted positively but can it be sustained? " "A top trader's love-hate relationship with Worldcoin"
Binance HODLer Airdrop Launches First Project Banana Gun (BANANA)
On July 19, according to the official announcement, Binance announced the first project Banana Gun (BANANA) on the HODLer Airdrop Portal. Users who subscribe to the BNB Simple Earn product between 00:00 (UTC) on June 23, 2024 and 23:59 (UTC) on July 5, 2024 will receive airdrop allocations. The BANANA HODLer Airdrop page is expected to be launched within five hours, and the new tokens will be distributed to users' spot wallets 1 hour before trading begins.
Binance will launch BANANA at 09:00 (UTC) on July 20, 2024, and add a seed tag. It is reported that Binance HODLer Airdrops is a plan to reward BNB holders with token airdrops based on historical snapshots of BNB balances. By subscribing to BNB Simple Earn, users will automatically be eligible for the HODLer airdrop (as well as Launchpool and Megadrop rewards).
Binance.US Gets Judge's Approval to Invest Certain Customer Assets in U.S. Treasuries
According to an order signed Friday by Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia, Binance must work with a third-party investment advisor to invest in the assets of BAM Trading Services Inc. and BAM Management US Holdings Inc. (collectively, BAM's assets). Both entities are in the United States. Binance must also transfer the cryptocurrency to a third-party custodian unrelated to the trading platform. BAM is allowed to invest certain customer fiat funds held at BitGo in U.S. Treasuries that "will mature on a rolling basis on a four-week basis," provided that no Binance entity is involved in the investment process and that BAM has sufficient U.S. dollars on its platform to satisfy customer withdrawal requests, among other requirements.
LI.FI official was stolen, with a total loss of nearly $12 million, and compensation will be provided to affected users
On July 16, the cross-chain aggregator LI.FI officially issued a statement confirming that the protocol was attacked. Previously, security agencies had monitored suspicious fund outflows from LI.FI, with a scale of $8 million. According to Paidun monitoring, this LI.FI hacker attack is basically the same as the early hacker attack vulnerability error on the LI.FI protocol on March 20, 2022. On the 18th, LI.FI announced that it would contact affected users and provide a voluntary compensation plan. Users participating in the compensation plan need to fill in relevant forms. On the 19th, the LI.FI hacker incident report showed that "personal human errors" during the update of its smart contract caused the protocol to be attacked by bad actors. An estimated 153 wallets were affected and nearly $12 million worth of USDC, USDT and DAI stablecoins were lost. After detecting the security vulnerability, its team immediately launched an incident response plan. The vulnerability originated from a problem in verifying transactions involving the protocol's shared LibSwap code base used by multiple decentralized trading platforms and other DeFi protocols due to "individual human error during the oversight deployment process."
WazirX was hacked, and its Ethereum network multi-signature wallet was stolen; the stolen assets involved more than $100 million worth of SHIB, $50 million worth of ETH, etc.
On July 18, the Indian cryptocurrency trading platform WazirX was hacked, and its multi-signature wallet on the Ethereum network was stolen. The stolen assets involved more than $100 million worth of SHIB, $50 million worth of ETH, etc., totaling $234.9 million. The stolen assets have been transferred to a new address. The caller of each transaction is funded by Tornado Cash. Perhaps affected by this news, SHIB fell by more than 5% in a short period of time. Later that day, according to monitoring by on-chain analyst Ember, the WazirX hacker had completely sold off $100 million worth of SHIB, and there was still $18 million in altcoins that had not been sold.
WazirX stolen assets transferred to address (WazirX Exploiter 1): 0x361384e2761150170d349924a28d965f0dd3f092
The stolen copycat tokens were sold in exchange for ETH storage address: 0x04b21735e93fa3f8df70e2da89e6922616891a88
This week, Mt.Gox address in Mentougou saw a large amount of transfers again, and assets have been repaid to more than half of the creditors
On July 16, according to Arkham data, the Mt.Gox address in Mentougou transferred 0.021 bitcoins to a newly created address, which may be a transfer test. Perhaps affected by this news, Bitcoin fell 0.34% in a short period of time. Within an hour, the Mt.Gox address in Mentougou transferred a total of 91,228 BTC, equivalent to about $5.7 billion, to two addresses. Later that day, according to a notice issued by Mt.Gox trustee Nobuaki Kobayashi, the trustee has repaid BTC and BCH to more than 13,000 creditors so far. Previously, Mt.Gox mentioned in court documents and related reports during its bankruptcy that about 24,000 creditors had submitted claims. More than half of the people have been repaid.
Craig Wright issued a public statement admitting that he is not Satoshi Nakamoto, the creator of Bitcoin
On July 17, according to a document released by Bitcoin Magazine, Craig Wright, known as "Australian Satoshi", officially issued a public statement admitting that he is not Satoshi Nakamoto, the creator of Bitcoin. Related reading: "9 years later, CSW finally admitted that he is not Satoshi Nakamoto"
Sanctum token CLOUD was issued at 23:00 on July 18
On July 18, Solana ecosystem liquidity pledge agreement Sanctum has officially opened airdrop applications, and eligible users can claim them through the Jupiter LFG page. Its token CLOUD (Sanctum) has been launched on Jupiter and is temporarily reported at $0.305 as of press time. Related reading: 《Sanctum's original "dynamic airdrop", detailed explanation of airdrop details and valuation》
Trump posted a dynamic with the text "FEAR NOT", and the meme token of the same name has appeared on the SOL and ETH networks
On July 16, according to the content posted by Trump's social media tracking account @TrumpDailyPosts, US presidential candidate Trump posted a new social email dynamic at 11:51 Beijing time, with the text "Don't be afraid (FEAR NOT), I am Trump, I will make America great again!". The meme token of the same name FEAR NOT has quickly appeared on the Solana and Ethereum networks and achieved a large increase in a short period of time.
Bitcoin Magazine CEO: Trump confirms he will still attend the 2024 Bitcoin Conference and give a speech
On July 15, Bitcoin Magazine CEO David Bailey said on his social platform, "I just talked to the president's team. He is in good spirits and will still give a speech in Nashville (the venue of the 2024 Bitcoin Conference) that the whole world can hear."
In addition, guests will have the opportunity to interact with Trump and participate in roundtable discussions. The fees are as follows: $844,600 per person, including VIP reception, roundtable discussion and photo with Trump; $60,000 per person or $100,000 per two people, including VIP reception and photo with Trump. Payment methods support cryptocurrency.
Messari founder's "support for Trump" radical remarks caused controversy, he said he would calm down as soon as possible
On July 19, Messari founder Ryan Selkis recently posted a lot of "support for Trump" radical remarks on social media, such as "Anyone who votes against Trump at this time may die in the damn sea of fire", "The civil war in this country started today. If you are against Trump, you are against those who are willing to fight", etc. At present, most of the relevant remarks have been set to "private". Later that day, Ryan Selkis tweeted that the Messari leadership had discussed the situation with him and was grateful for the team's concern and friendly help for his behavior, but he was very busy this week and would soon resolve the issue of radical remarks. The next day, Ryan Selkis announced that he had resigned. Related reading: "Messari founder says he wants to send all American immigrants back to their hometowns"
Polygon plans to convert MATIC to POL on September 4
On July 18, Polygon's mainnet upgrade is scheduled for September 4, 2024. After community approval, its native token will be converted from MATIC to POL. The testnet migration launched on July 17 aims to identify and resolve potential issues before the mainnet upgrade. After the upgrade, POL will replace MATIC as the main token for blockchain gas fees and staking. Related reading: "MATIC will be upgraded to "POL", what are the highlights of the new token? 》
Founder of Silicon Valley's top venture capital A16Z: Why we turned to support Trump
Marc Andreessen, co-founder of A16Z, one of Silicon Valley's most famous venture capital firms, has been a Democrat for most of his life. He has supported and voted for Clinton, Al Gore, John Kerry, Obama, and Hillary. However, he said he is no longer loyal to the Democratic Party. In the 2024 presidential election, he will support and vote for former President Donald Trump. The reason why he chose Trump instead of Biden mainly comes down to one important issue: He believes that Trump's policies are more conducive to technology, especially the startup ecosystem.
On July 15, 2024, former US President Donald Trump has selected Ohio Senator J.D. Vance as his running mate for the 2024 election. This is another tough statement by the Republican Party's "Make America Great Again" (MAGA) faction, which is bound to shake up the already unprecedented election year. According to the Wall Street Journal, if Trump is elected, Vance, who will turn 40 in August, will become one of the youngest vice presidents in US history.
《Trump fundraising documents exposed, which crypto industry leaders support Trump's campaign? 》
Recently, two super PACs (Super PACs) that are the main channels for Trump's fundraising, namely Trump 47 Committee and America PAC, have submitted disclosure documents for accepting donations to the Federal Election Commission (FEC) of the United States, and donations from many crypto industry leaders or crypto friends have surfaced. As the US election approaches, Trump's fundraising is also in full swing. This article takes stock of the main well-known donors related to the crypto industry who support Trump's campaign.
《When the next "election event" happens, should I choose Solana or Ethereum to buy memes? 》
As soon as the news of Trump's shooting came out, dozens of memes jumped up. FIGHT and EAR quickly became the new round of 100x coins, but not everyone can get the first wave of meme gains in time. If you are not willing to wait for the next explosion, you have to hurry up and get on board. Ethereum and Solana are recognized as the most profitable chains for memes, but which one do you choose?
《Behind Binance's launch of $BANANA, TGBot becomes the next must-fight track for trading platforms》
Just after its seventh anniversary, Binance launched a new airdrop reward program for BNB holders, Binance HODLer Airdrops. What many people did not expect was that Binance chose Banana Gun for the first HODLer Airdrops project. But after communicating and thinking with more friends, I found that the more important "layout" behind this is: the trading platform may have found the next profit opportunity, that is, the new growth market, that is, trading BOT.
“VC coins” are not the fundamental reason for the birth and death of new public chains. “Technical thresholds” are all paper tigers. “Having someone come to play with you” is the key to survival, which is also the simplest way to judge the potential of a public chain. According to this logic, if we examine the new public chains on the market today, Berachain is probably the only one that can pass the passing line. Recently, BlockBeats interviewed Smokey The Bera, co-founder of Berachain, and talked about their “sloppy” LOGO design and how they plan to “squander” the $140 million in financing.
On July 18, Indian cryptocurrency trading platform WazirX was hacked and its multi-signature wallet on the Ethereum network was stolen. A total of $234.9 million has been transferred to new addresses, and the caller of each transaction was funded by Tornado Cash. Later, WazirX officially responded to the theft on X, saying: "We have noticed that one of our multi-signature wallets has suffered a security breach. Our team is actively investigating the incident. In order to ensure the safety of user assets, INR and cryptocurrency withdrawals will be temporarily suspended, and further updates will be provided in the future."
《How did smart money make 100 times the profit on Trump's shooting? 》
On July 14, Trump was shot in the ear while speaking at a campaign rally, and raised his right fist while being covered by security. After that, the Trump meme concept skyrocketed, TRUMP soared nearly 70% in 1 hour, and MAGA soared 33% in 1 hour. In addition, several related meme coins appeared on Solana, among which FIGHT, EAR, etc. rose more than 100 times after going online. After an explosive news event, there will always be a series of related meme tokens and coins that quickly appear, and several targets with a growth rate of more than 100 times and huge profit margins. How are these "golden dogs" born? What are the characteristics of smart money that makes high profits?
《Disassembling the current selling pressure of Bitcoin, how far is it from $73,000? 》
In the past month, first of all, the continuous outflow of ETFs led to the decline of the market, and then panic. The German government's selling of Bitcoin actually affected the price of Bitcoin more in terms of market sentiment. The selling pressure itself did not have as much impact on the price of Bitcoin as the community imagined. So after more than ten days of continuous inflow of ETFs, what is the impact of the potential selling pressure in Mentougou on the market? What other sellers need to consider? Based on the report and combined with data from other institutions, BlockBeats sorted out the multiple selling pressure factors faced by the Bitcoin market.
《A top trader's love and hate for Worldcoin》
Since its launch, Worldcoin has been daunting with its extremely high FDV, and even triggered a long-lasting discussion on whether "FDV is a Meme". After the baptism of various high FDV/low circulation market value tokens in the first half of this year, we now know that FDV is not a Meme. High FDV means big cuts! But there are ways to make big cuts. When the internal unlocking was about to begin, Wolrdcoin suddenly announced at 9 pm on July 16 that the unlocking period of tokens allocated to the development company Tools for Humanity team members and investors would be extended from 3 years to 5 years...
《WLD Token Unlocking Rules Adjusted, Market Reacts Positively But Can It Sustain?》
Since March, WLD (Worldcoin) has continued to trend downward, with the unit price falling from the highest point of nearly 12 USDT to the lowest 1.72 USDT. The fundamental reason is not only the overall market downturn, but also the massive and continuous selling pressure of WLD tokens. However, in recent days, Worldcoin has made two consecutive changes to the token release rules, which caused the token to rise by 8% and 13% within an hour respectively. How big was the original selling pressure of WLD, and what impact did the two changes have on the continuous unlocking?
The TON chain is a blockchain project developed by Telegram. Although the Telegram team withdrew from the development of the project midway, the TON Foundation still took over and continued to develop it. Since last year's trading BOT, the TON chain has gradually prospered, and it has also provided more opportunities and possibilities for today's small game BOT.
《Main assets withdraw, coin prices cut in half, what happened to Pendle? 》
According to the latest Defilama data, on June 10, Pendle's total locked volume (TVL) climbed to a peak of US$6.7 billion. However, in the following two weeks, TVL dropped sharply by 40%, and about $3 billion of funds were withdrawn from Pendle. The main reason for this significant drop was that multiple financial products on the Pendle platform expired, causing users to choose to stop staking and withdraw.
《9 years later, CSW finally admitted that he is not Satoshi Nakamoto》
The two-month legal battle finally came to an end today. "Australian Satoshi" Craig S. Wright (CSW for short) officially published a public statement, admitting that he is not Satoshi Nakamoto.
《Why are these five tokens securities? SEC gives the answer》
Below are details of some of the crypto-asset securities that Consensys trades for investor accounts through its MetaMask Swaps platform. Each crypto-asset security was issued and sold as an investment contract since its first offering or sale and is therefore considered a security. For each crypto-asset security, the issuer and promoter's statements give investors a reasonable expectation of profit from the management or entrepreneurial efforts of those issuers and promoters (and related third parties). This reasonable expectation exists whether investors obtain these crypto-asset securities through the initial offering, from previous investors, or through crypto-asset brokerage platforms including the MetaMask Swaps platform.
Chain games are a very unique track. Now it is 2024. If you are a light blockchain game player like me (i.e. you don’t focus on the blockchain game track and spend a lot of time playing blockchain games every day), your impression of blockchain games may be that blockchain games are becoming more and more sophisticated and playable. Many blockchain game projects that make money this year are no longer the same as before.
MakerDAO, a decentralized lending protocol and the issuing protocol behind the stablecoin DAI, announced an open competition called "Spark Tokenization Grand Prix" last Friday (12), planning to invest $1 billion of its reserves in tokenized US Treasury bonds. In this competition, top issuers including BlackRock's tokenized fund BUIDL, RWA protocol Ondo Finance and crypto-native asset management company Superstate plan to submit applications to the tokenization competition. After the news of the three giants joining was released, MakerDAO token MKR jumped 10% within 24 hours.
On July 16, the financial market continued to rise, with U.S. stocks, gold and cryptocurrency markets soaring across the board. In the crypto market, data showed that Bitcoin hit a four-week high, soaring above $65,000 for the first time since the end of June. Among the mainstream altcoins, XRP performed the strongest, with a weekly increase of 35%. The broader altcoin market also benefited from investor enthusiasm, with 90% of the top 200 tokens by market value rising.
《Ethereum ETF may not be good for altcoins》
On July 18, as issuers successively submitted S-1/A and other documents for spot Ethereum ETFs to the U.S. SEC, the fees of 9 spot Ethereum ETFs have been announced and trading will start next week. Crypto researcher Thor used linear analysis to analyze the correlation between each altcoin and Ethereum to explore whether the ETF will benefit altcoins while benefiting Ethereum.
A few weeks ago, as Blast completed its airdrop, everyone seemed to pay little attention to this project. Yesterday, sharp-eyed netizens discovered that Blast changed the name of its official X account from @Blast_L2 to @Blast. At the same time, the profile of Blast's official account also began to describe itself as "The Fullstack Chain" instead of an L2. This seems to be deliberately downplaying the general impression that it is Ethereum's L2.
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