Headlines
Trump: Gary Gensler will be fired on first day in office
Trump said in a speech at the 2024 Bitcoin Conference that he would fire current SEC Chairman Gary Gensler on his first day in office.
Cryptocurrency exchange Bitstamp announced on X-Platform that the assets in trust that Bitstamp distributed to creditors of Mt. Gox and stored with Bitstamp are now fully available following the completion of a security check. A separate distribution plan will be drawn up for customers in the UK. Once more information is received from the Mt. Gox trustee, relevant customers will be notified immediately.
Michael Saylor, founder of Micro Strategy, spoke at the Bitcoin Conference and said that as adoption grows, the price of Bitcoin could exceed $13 million by 2045, which would require a 29% annual return. At this level, Bitcoins market value would reach $280 trillion, accounting for 7% of global wealth.
MEME coin Neiro deployer earns 15,500 SOL with 3 SOL
According to Lookonchain monitoring, the deployer of Neiro earned 15,508 SOL ($2.85 million) with only 3 SOL ($552), a profit of 5,169 times. When deploying Neiro, he spent 3 SOL ($552) to buy 97.5 million Neiro. He then sold 68 million Neiros for 15,511 SOL ($2.85 million) through multiple wallets, realizing a profit of 15,508 SOL ($2.85 million). He also sent 10 million Neiros to a wallet, and currently has 19.5 million Neiros ($1.8 million) left, with an unrealized profit of $1.8 million. Neiro is a MEME coin on the Solana chain, named after the newly adopted dog of the owner of DOGE (Kabosu).
Project News
A recent proposal passed by Compound Finance has sparked allegations of a governance attack from the community, who claim that a small group was able to force the proposal through the approval process after acquiring a large number of tokens on the open market. Proposal 289, which was passed by a narrow margin of 682,191 votes to 633,636 last Sunday, allocates 5% of the funds in the Compound treasury (499,000 COMP tokens, worth about $24 million) to a one-year interest-bearing protocol designed by the Golden Boys. Voting on the proposal began at 11:40 p.m. local time on Thursday and lasted through the weekend.
NEIRO posted on the X platform that Bubblemaps’ previous disclosures were false, and that most of these wallets belonged to friends of the developer, which is why they had interacted in the past. The developer currently holds about 1.6% of the supply and has no plans to sell in the near future.
Prediction Market Polymarket Adds New Olympic Games Category
The prediction market Polymarket has added an Olympic Games category. Currently, the United States is predicted to win the most gold medals in the Paris Olympics with a probability of 79% and China with a probability of 20%. The amount of this prediction market project has reached 1.2 million US dollars; among the countries with the most medals, the United States is predicted to win 94% and China with a probability of 6%. The amount of this prediction market project has reached 1.3 million US dollars; in addition, in the prediction of the Olympic mens basketball champion, the United States mens basketball team has a probability of winning the gold medal of 80% and Canada has a probability of 6%.
Taiko announced the details of the TAIKO token lock-up and vesting plan: 1. Token distribution arrangement: Investors: 11.62% of the total token supply; Taiko Labs core team (first execution): 9.81695% of the total token supply. 2. Vesting and unlocking schedule: Vesting period: 4 years; Initial lock-up: 12 months from TGE; TGE date: June 5, 2024 ; After the initial lock-up period: 25% of the vested tokens can be unlocked; the remaining 75% will be unlocked linearly over the next 3 years.
Eclipse posted on X that the Eclipse mainnet has not yet been launched (expected to be launched next week) and there is no pre-registration. Please do not click on any suspicious links. Earlier in March, Eclipse Labs announced the completion of a $50 million Series A financing, led by Placeholder and Hack VC, with a total financing amount of $ 65 million. This round of financing also attracted participation from investors such as RockTree Capital, Polychain Capital, Delphi Digital, Maven 11, DBA, Apollo-managed funds, Fenbushi Capital, ParaFi Capital, and strategic investments from Flow Traders, GSR, Auros, and OKX Ventures.
Lava Network: Beware of fake Vesuvius airdrop claim links, please refer to the official airdrop page
Lava Network, a modular blockchain infrastructure developer, posted on X that the team has noticed several fake Vesuvius airdrop claim pages being spread. Please look for the only official airdrop page claims.lavanet.xyz (verify on Discord). Airdrop claims will end with the launch of the public mainnet, so be wary of suspicious links and impersonators.
USDe supply falls below 3.3 billion
Etherscan data shows that the supply of USDe, a stablecoin issued by Ethena Labs, has fallen below 3.3 billion. The current supply is approximately 3,247,295,983 , with 15,192 holders and 497,716 transfers.
WazirX releases recent security incident update: To facilitate the management of users remaining assets, we will provide two options, each with specific benefits and conditions. 55% of the users crypto assets will be available for trading and/or withdrawal (depending on the option selected by the user), while the remaining 45% will be converted into USDT equivalent tokens and locked.
In the past week, Circle issued about $2.7 billion in USDC and redeemed about $2.6 billion in USDC.
According to official data, as of July 25, Circle has issued about $2.7 billion USDC in the past 7 days, redeemed about $2.6 billion USDC, and the circulation increased by less than $100 million. The total circulation of USDC is $33.7 billion, and the reserve is $33.9 billion, of which about $4.2 billion is in cash, and the Circle Reserve Fund holds about $29.7 billion.
Investment and Financing
Metabit Network recently announced that it has successfully completed a new round of strategic financing of US$10 million, the source of which has not yet been disclosed. Officials said that the company will use this funding to promote Metabit Networks innovation and development in the field of blockchain technology.
Cantor Fitzgerald CEO Howard Ratnick announced at the 2024 Bitcoin Conference that the company plans to establish a Bitcoin financing business with an initial financing amount of $2 billion to provide leverage to investors. Ratnick also revealed that he personally holds Bitcoin and Cantor Fitzgerald also holds a lot of Bitcoin.
Bitcoin-denominated trading platform Roxom completes $4.3 million pre-seed round of financing
Roxom, a Bitcoin-denominated trading platform, has completed a $4.3 million pre-seed round of financing, led by Tim Drapers Draper Associate, with participation from Borderless, Cadenza Ventures, Kingsway Capital, NewtopiaVC and a group of angel investors.
Character*Voice
Nate Geraci, president of The ETF Store, wrote on X: “This week’s highlights: Grayscale’s long-term plan is finally coming true. It will have the lowest-cost spot Bitcoin and Ethereum ETFs on the market, with the tickers BTC and ETH. The only thing missing from the plan is options trading, which will help protect GBTC and ETHE to a certain extent.”
Wu Jiezhuang: In the future, we can consider including Bitcoin in strategic fiscal reserves
In response to Trumps speech at the Bitcoin Conference, Hong Kong SAR Legislative Council member Wu Jiezhuang published an article on the X platform expressing his views: Bitcoin and Web3 are important nodes in the development of globalization, and global common development should be encouraged; in the future, Bitcoin can be considered to be included in the strategic fiscal reserve under compliance conditions; I believe that the SAR government will open up the market responsibly and step by step.
Eleanor Terrett, a Forbes reporter, wrote on the X platform that U.S. Democratic Congressman Ro Khanna said at the Bitcoin Conference that he believed the values of the new generation of politicians from both parties would support innovation, support giving individuals more freedom, disperse economic opportunities, and understand the value of Bitcoin and many cryptocurrencies.
Vitalik Buterin replied to netizens on X: We dont need a single actor to broadcast all blobs. The blobs are already in the mempool, and there are many distributed broadcast options. There is still a long way to go to achieve a full DAS with a 16 MB target. There is no plan to achieve this goal until a satisfactory solution is found.
QCP Capitals latest report pointed out that the first week of Ethereum spot ETF trading was similar to the first week of Bitcoin spot ETF, with ETH falling from a high of 3563 to a low of 3086. The reasons for the similar trends of the two are as follows: 1. Grayscales high fee of 2.5% continues to drive capital outflows. So far, 8 Ethereum spot ETFs have had a net outflow of US$178 million, and Grayscale has outflowed US$1.16 billion in just 4 days; 2. Although Grayscale launched the most competitive 0.15% fee mini ETF (ETH), net outflows still dominate, with only 10% of the initial ETHE converted to ETH; 3. The crypto market has driven the classic buy the hype sell the news phenomenon.
