Today's Headlines:
Mt. Gox trustee: Partial repayment has been made to some creditors in the form of BTC and BCH
Telegram CEO: Hamster Kombat plans to issue its tokens on the TON blockchain
As BTC plunges, US cryptocurrency stocks fall in pre-market trading
UniSat completed Pre-A round financing led by Binance in May
Regulatory News
According to Jinshi's report, the Labour Party in the UK has won 326 seats in parliament and is set to become the ruling party in the UK. Prime Minister-elect Starmer told supporters, "We did it." Outgoing UK Prime Minister Sounak admitted defeat in the election. Many well-known Conservative Party members lost their seats, including leadership candidate Mordant, Defense Minister Sharps, former Industrial Strategy Minister Mogg, and Finance Minister Hunter barely held onto his seat. Earlier yesterday, analysts said that after the Labour Party's victory, attention may be focused on RWA tokenization and CBDC development.
According to Cointelegraph, the European Banking Authority (EBA) has taken important steps to strengthen anti-money laundering (AML) measures, announcing the extension of travel rule guidelines to cryptocurrency service providers and intermediaries. From December 30, cryptocurrency exchanges operating in the European Union (EU) will be subject to Regulation (EU) 2023/1113 (travel rule guidelines), which requires reporting of information on fund and cryptocurrency asset transfers. Therefore, according to MiCAR's definition, cryptocurrency asset service providers (CASP) will be subject to the EU's anti-money laundering/counter-terrorism financing (AML/CFT) regime. Once the regulation takes effect, payment service providers (PSPs), intermediary PSPs, CASPs, and intermediary CASPs will have a two-month grace period to declare compliance with the new requirements. Some general provisions include collecting user information for fund or cryptocurrency asset transfers, determining whether transactions are related to purchasing services, and detecting seemingly related transfers. In addition, cryptocurrency service providers and intermediaries need to declare their multiple intermediary and cross-border transfer policies. The EBA acknowledges that compliance with the "EU Travel Rule Guidelines" will put financial pressure on cryptocurrency exchanges and service providers. However, the regulatory agency expects overall benefits in the long run.
German lawmakers urge the government to stop selling Bitcoin
According to CryptoSlate, German lawmaker Joana Cotar strongly criticized the government's decision to sell $195 million worth of Bitcoin, believing that this exacerbates market volatility and may have long-term negative effects on cryptocurrency market stability. These bitcoins are from an investigation into the illegal website Movie2k.to. Cotar stated on X platform that the German government should reconsider this strategy and discuss with the United States the comparison of Bitcoin as a strategic reserve currency.
Project Updates
Mt. Gox trustee: Partial repayment has been made to some creditors in the form of BTC and BCH
Mt. Gox announced that on July 5, 2024, the trustee for the rehabilitation made partial repayments to some rehabilitation creditors in the form of Bitcoin and Bitcoin Cash (BCH) through designated cryptocurrency exchanges and other means in accordance with the "Rehabilitation Plan." Once the following conditions are met, repayments will be made to other creditors immediately: (i) confirmation of the validity of registered accounts and other matters; (ii) designated cryptocurrency exchanges and other means accepting the subscription intention of the "Proxy Receipt Agreement"; (iii) discussions between the trustee and designated cryptocurrency exchanges and other means regarding repayments are completed; (iv) confirmation that repayments can be made safely. Creditors who meet the conditions are requested to wait a little longer.
Mt. Gox address transferred 2702 BTC to Bitbank;
Mt. Gox-related address transferred 1200 BTC to a new address starting with 34X3kp.
@maidcrypto stated on X platform: "IO insider trading transferred 2.5 million IO, led by someone named Hanz, the head of IO's marketing department. Through 110 addresses, each address took more than 10,000 IO." Decentralized artificial intelligence computing and cloud platform IO.NET's official personnel @TheAntiApe clarified: "This FUD is indeed a misconception: 1. The contract is the third quarter's airdrop contract for IO, from streamflow. The 2.5 million IO community rewards and the remaining GPU rewards are separate contracts, so this contract shows a total of 2.5 million IO. 2. @maidcrypto's link filtered out transactions of 10,000 tokens or more. If the filter is removed, you can see all small amount claims of the contract."
Today's Headlines:
Prediction Market Data from Polymarket
According to data from the prediction market Polymarket, the odds of Harris winning the Democratic Party's 2024 presidential candidate nomination have risen to 46%, while Biden's odds have dropped to 35%. The total bets on this prediction currently amount to $85.1 million. In the prediction market for "Biden dropping out of the US presidential race," the likelihood of Biden dropping out has increased from 63% yesterday to the current 69%, with total bets reaching $11 million. Additionally, in another prediction market for the "winner of the 2024 presidential election," Harris's chances of winning have risen to 19%, ranking second, while Biden's chances have dropped to 10%, with total bets reaching $2.261 billion.
Vitalik's Comments on MEV and Proposal for Multi-Proposer Architecture
Max Resnick, the research director at SMG, expressed his views on Miner Extractable Value (MEV) on the X platform, emphasizing the issue of control and the need for multiple parallel proposers to address the problem. In response, Ethereum co-founder Vitalik Buterin commented on the potential negative external effects of MEV and the possibility of maximizing MEV through transaction flooding.
Telegram CEO Announces Plan to Issue Tokens on TON Blockchain
Telegram CEO Patel Du Rove announced on his personal channel that Hamster Kombat has become a new internet phenomenon with 239 million registered users in just three months. The mini-app on Telegram has reached 100 million monthly active users in 73 days, with a daily addition of 4-5 million users. Hamster Kombat plans to issue its tokens on the TON blockchain, aiming to bring the advantages of blockchain to hundreds of millions of users.
Ethena Labs Releases Asset Custody Proof Supporting USDe
Ethena Labs' latest report shows that as of June 30, 2024, the supply of USDe amounted to $3.605 billion, with $2.072 billion held in Copper, $1.501 billion in Ceffu (including $17.09 million unrealized profit), $5.11 million in Cobo, $15.34 million in minting/redemption contracts, and a reserve fund of $45.32 million. All custodians have confirmed that these assets are supported by off-chain institutional-grade custody solutions, totaling $3.61 billion, representing 101.41% of the total USDe supply.
Justin Sun's Offer to Purchase BTC from the German Government
Justin Sun expressed his willingness to negotiate with the German government to purchase all of its BTC through over-the-counter trading in order to minimize the impact on the market.
Cryptocurrency Stocks Decline in Pre-Market Trading Amid BTC Plunge
CoinDesk reported that due to the decline in Bitcoin prices, US cryptocurrency-related stocks experienced significant declines in pre-market trading. Bitcoin's price in European trading was around $54,400, a 5.8% drop in the past 24 hours, reaching its lowest point since late February. This decline is attributed to the bankrupt cryptocurrency exchange Mt. Gox transferring $2.6 billion worth of Bitcoin to a new wallet and beginning repayments to creditors.
Funding News
UniSat announced that it completed a Pre-A round of financing led by Binance in May 2024, strengthening their cooperation in technology and business for future collaboration.
Mining News
According to CoinDesk, with Bitcoin's price at $54,000, only five models of mining machines are currently profitable for operators, indicating a potential "local bottom."
Bitcoin Mining Difficulty Decreases by 5% to 79.50 T
BTC.com data shows that Bitcoin's mining difficulty has decreased by 5% to 79.50 T at block height 850,752 (as of July 5, 2024, 11:21:13), with the current average network hashrate at 586.16 EH/s.
Important Data
A wallet address labeled as "German government" transferred 500 BTC to an address starting with 139PoP, worth approximately $27.07 million.
A large whale has transferred a total of 33,099 ETH to Binance and subsequently withdrew $83.43 million worth of stablecoins to repay a loan.
According to on-chain analyst Yu Jin's monitoring, a whale/institution has accumulated 33,099 ETH (approximately $96.24 million) into Binance for sale, and then withdrew $83.43 million worth of stablecoins to repay loans on Compound and Aave. They currently have outstanding loans of $48.37 million on lending platforms, with collateral of 31,269 ETH (approximately $89.36 million). Earlier, the same whale/institution transferred 11,429 ETH to Binance, approximately $33.20 million.
Justin Sun May Lose $66 Million Due to Today's Ethereum Price Plunge
According to Spot On Chain, Justin Sun may lose $66 million due to today's 10% plunge in Ethereum price. From February to June, he purchased 361,000 ETH through three wallets, including 169,604 ETH at an average price of $2,870 in February, 176,117 ETH at an average price of $3,177 in April, and 15,416 ETH at an average price of $3,474 in June. These wallets typically receive ETH from Binance immediately after depositing stablecoins. Just 24 hours ago, he made a profit of $58 million from these ETH, but now faces a loss of $66 million due to the plunge.
Data: Hong Kong Virtual Asset ETFs' Daily Turnover Approximately HK$207 Million
Hong Kong stock market data shows that the daily turnover of all Hong Kong Virtual Asset ETFs is approximately HK$207 million. Notably, Huaxia Bitcoin ETF (3042.HK/9042.HK/83042.HK) had a turnover of HK$129.37 million, while Huaxia Ethereum ETF (03046.HK/09046.HK/83046.HK) had a turnover of HK$17.802 million.
A Whale Has Been Liquidated of Approximately 173,230 cETH, Valued at Approximately $10.7 Million
According to Pionex's monitoring, the whale with the address 0xc26b…869c has been liquidated of approximately 173,230 cETH, valued at approximately $10.7 million.
A Whale's 12,734 ETH Borrowing Position on Compound Faces Liquidation
According to Lookonchain's monitoring, a whale's health factor on Compound has dropped to 1.02 as ETH's price declines. Their 12,734 ETH ($38.77 million) faces liquidation.
Later News: A Whale Has Been Liquidated of 4,215 ETH and Appears to Have Started Repaying Debt
CryptoQuant CEO: Bitcoin Spot ETFs Currently Account for One-Quarter of Total Spot Trading Volume
An Address with a Balance of 8.5 Million USDT Was Frozen Last Night
A Whale Spends Borrowed 70 Million USDT to Buy Back 22,713 ETH, Suspected of Releveraging
MakerDAO's Second Quarter Revenue Reaches Approximately $85 Million, a Historic High
USDT Over-the-Counter Price Rises to 7.47 Yuan, Premium Rate Approximately 2.47%
Bitcoin Briefly Drops Below $54,000 Midday Before Rebounding
Ethereum Briefly Drops Below $2,900
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