Today's Headlines:
- Harris: Ready to Debate Trump on September 10
- New Jersey City Pension Fund to Invest in Bitcoin ETF
- Coinbase International to Launch Perpetual Futures Trading for Dymension, Maker, and Aave
- Robert Kennedy Jr. Claims Most of His Wealth Is in Bitcoin, Will Push Federal Government to Buy Bitcoin if Elected
- Zhao Changpeng's Release Date is September 29, Not August 30 as Rumored
- Wallet Associated with Ethereum Foundation Transfers 92,500 ETH After 7 Years of Dormancy
- Crypto Mining Company MARA Purchases Over $100 Million Worth of Bitcoin, Holding Exceeds 20,000 Coins
- ChatGPT Launches AI Search Engine Prototype SearchGPT
Regulatory News:
According to The Hill, U.S. Vice President Harris, after returning to Washington from a two-day visit to Indiana and Texas, told reporters that she is ready to debate Trump on September 10. She said, "I agreed to the previously agreed upon September 10 debate. Trump also agreed to this before, but now it seems he wants to change his mind. Voters should see the differences in this election on the debate stage." Trump previously told reporters that he would "absolutely" debate Harris at least once before election day. However, he added that as far as debating Harris is concerned, he did not "agree to anything." Trump and Biden agreed to two debates, one on June 27 and the other on September 10. Harris has already gained enough support from delegates and is expected to become the Democratic candidate. The Democratic National Convention will be held in Chicago from August 19 to 22.
Trump Raises Over $4 Million in Campaign Funds Through Cryptocurrencies Including Bitcoin
According to CNBC, Donald Trump's campaign assistant revealed that as the Republican presidential candidate, Trump has raised over $4 million in funds from various digital tokens. According to a document from the Federal Election Commission, donors contributed Bitcoin, Ethereum, Ripple's XRP tokens, USDC stablecoins, and various meme coins. The over 1000-page report shows the total funds raised by the "Trump 47" joint fundraising committee from April 1 to June 30. During this period, the committee raised over $118 million and, according to the document, made payments to Trump's campaign team, the Republican National Committee, and other parties. The document shows that at least 19 donors contributed over $2.15 million in Bitcoin to the committee. Donors came from 12 states, including some fiercely contested states. Their professions include housewives, U.S. military officers, missionaries, painters, a sales representative for a pizza company, and a security technician at the State Department. Cryptocurrency billionaires and twin brothers Tyler and Cameron Winklevoss led the donations, each contributing 15.57 Bitcoins, which were worth slightly over $1 million at the time of donation. As their donations exceeded the $844,600 limit, the document shows that some funds were returned. Mike Belshe, CEO of digital asset security company BitGo, donated $50,000 in Bitcoin.
AI:
- ChatGPT Launches AI Search Engine Prototype SearchGPT
- According to Bloomberg, OpenAI has launched the prototype of an AI search engine called SearchGPT, which may compete with Google. According to OpenAI, SearchGPT can access information on the internet in real time, providing users with a more intuitive search experience, allowing them to ask questions to improve the search, just like they use ChatGPT. SearchGPT also collaborates with publishers and creators to cite sources in relevant search results. OpenAI is testing the feature with a small group of users and plans to integrate the most successful features into ChatGPT in the future.
Project Updates:
Mayor Steven Fulop of Jersey City, New Jersey, announced that the city's pension fund will partially invest in a Bitcoin exchange-traded fund (ETF). Fulop stated on the social media platform X that Jersey City is updating its documents with the U.S. Securities and Exchange Commission to allocate % of the fund to a Bitcoin ETF, similar to the practice of the Wisconsin pension fund (2%). The process is expected to be completed by the end of the summer. Fulop stated that the question of whether cryptocurrencies and Bitcoin will continue to exist has been settled, and cryptocurrencies and Bitcoin have won. He believes that blockchain is one of the most important new technological innovations since the internet.
Coinbase International to Launch Perpetual Futures Trading for Dymension, Maker, and Aave
Coinbase International Exchange announced that it will start supporting perpetual futures trading for Dymension, Maker, and Aave after 17:30 Beijing time on August 1, 2024. These new markets will be open on the Coinbase International Exchange and Coinbase Advanced platforms, corresponding to the trading pairs DYM-PERP, MKR-PERP, and AAVE-PERP.
Market News: Aave Plans to Launch Fee Conversion, Buy Back Tokens from Public Market
According to BWEnews, Aave plans to launch fee conversion and buy back tokens from the public market. More information disclosed by The Block about this news indicates that a new proposal by Aave considers adding fee conversion functionality to return part of the platform's net surplus income to its key users. This move may also lead to re-staking in the Aave protocol, providing a new source of income for Aave and its users.
StarkWare Plans to Integrate Cosmos' IBC Protocol into Starknet According to The Block, StarkWare will collaborate with Informal Systems to integrate Cosmos' IBC protocol into Starknet. This integration will enable Starknet to connect with any chain compatible with IBC, including all chains within the Cosmos ecosystem and other chains adopting this feature.
Zeta Markets Allocates 20 Million ZEX Tokens to Early Stakers Solana-based decentralized exchange Zeta Markets announced on X platform that it will conduct a ZEX staking airdrop, with 20 million tokens being distributed to 14,836 early stakers. The token claim deadline is September 25 at 17:45 (Beijing time). The tokens will be issued in the form of gZEX, with a 3-month linear unlock. ZEX stakers will start receiving staking rewards and will also participate in DAO governance in the future, including proposals, discussions, and voting.
Arbitrum Foundation's Proposal to "Deploy New Orbit to Any Blockchain" Opens for Voting Arbitrum Foundation's proposal to "Amend the Arbitrum Expansion Plan, allowing the new Orbit chain to be deployed on any blockchain (such as Bitcoin, Binance Smart Chain, Cosmos, etc.), not just limited to Ethereum" is currently being voted on the Snapshot platform. The aim is to increase the number of deployments, thereby increasing the income of ArbitrumDAO and addressing the confusion over deployment definitions.
If ArbitrumDAO approves the deployment of the Orbit chain on any blockchain, the Arbitrum Foundation will be responsible for collecting 10% of the Orbit chain's profits and transferring them to the treasury of ArbitrumDAO (8%) and the Arbitrum Developer Guild (2%). Currently, 99.89% of the voting rate supports deployment to any blockchain, and the voting will end on August 1.
Coinbase Adds Three New Board Members, Including OpenAI Executive According to Reuters, the U.S. cryptocurrency exchange Coinbase announced the addition of three new board members, including OpenAI executive Chris Lehane, former U.S. Deputy Attorney General Paul Clement, and Aon Chief Financial Officer Christa Davies. The addition of new members will increase the board members from 7 to 10.
Binance Launches Render (RENDER) on Binance Earn, Buy Crypto, Swap, Margin, and Futures According to an announcement from Binance, RENDER will be launched on Binance's margin, futures, and dollar-cost averaging platforms on July 26, 2024, at 18:00 (GMT+8). Users can subscribe to the RENDER dollar-cost averaging product on Binance Earn and start purchasing RENDER through dollar-cost averaging from July 29, 2024, at 18:00 (GMT+8). Binance's margin platform will add RENDER as a borrowable asset at 18:00 on July 26, 2024, and open leveraged trading pairs RENDER/USDT and RENDER/USDC. At the same time, Binance will launch RENDER 1-50x perpetual futures contracts at 18:00 on July 26, 2024.
Robert F. Kennedy Jr. States Most of His Wealth Is in Bitcoin, Will "Fully Embrace" Bitcoin U.S. independent presidential candidate Robert F. Kennedy Jr. reiterated his support for Bitcoin at the BTC 2024 conference in Nashville. Kennedy stated that most of his wealth is in Bitcoin and emphasized his "full commitment" to this digital asset. Earlier today, it was reported that U.S. presidential candidate Robert F. Kennedy Jr. stated: If elected, he will push the federal government to purchase $615 billion worth of Bitcoin, making its reserves equivalent to gold reserves.
BitFlyer Completes Acquisition of FTX Japan, Begins Developing Cryptocurrency Custody Services According to Coinpost, the parent company of the Japanese cryptocurrency exchange bitFlyer, bitFlyer Holdings, has completed the acquisition of FTX Japan, making it a wholly-owned subsidiary. The subsidiary will be renamed on August 26 and will focus on providing cryptocurrency custody services to institutional investors under bitFlyer Holdings. Looking ahead, with the improvement of cryptocurrency regulations in Japan, the subsidiary plans to launch spot cryptocurrency ETFs.
Zhao Changpeng's Release Date is September 29, Not August 30 as Rumored According to Protos, some Binance fans on X platform shared their expectations for Binance founder Zhao Changpeng to complete his sentence on August 30, but fact-checking shows that he will not actually be released on this date. Back on April 30, U.S. District Judge Richard Jones sentenced Zhao Changpeng to four months in prison at the Seattle prison and recommended that he be sent to the Seatac International Airport prison in Seattle. This decision initially led to widespread speculation that if Zhao Changpeng were to be imprisoned immediately, August 30 should be his release date. However, Zhao Changpeng's legal team intervened actively to seek more freedom time for him. Their efforts resulted in Zhao Changpeng's imprisonment being postponed to late May and not being placed in Seatac as originally planned, but being transferred to the low-security federal prison FCI Lompoc II, located three hours north of Los Angeles. Currently, according to a check of the prison management database, Zhao Changpeng is indeed in FCI Lompoc II. As for his exact release date, unless there are changes, it has been confirmed to be September 29, not the previously widely circulated August 30.
Funding News:
According to The Block, the liquidity staking platform aPriori, based on the Monad blockchain, has completed an $8 million seed round of financing, with Pantera Capital leading the investment. Institutional investors participating in this round include Consensys, OKX Ventures, CMS Holdings, ABCDE, Gumi Cryptos Capital, Flow Traders, Laser Digital, Chorus One, Everstake Capital, and Staking Facilities. Angel investors include Spencer Noon from OurNetwork, Marc Tillement from Pyth Network, Robinson Burkey from Wormhole Foundation, TN Lee from Pendle Finance, and Zano Sherwani from Jito Labs.
Michael Novogratz's Galaxy Raises $113 Million for New Crypto Venture Fund
Bloomberg reported that billionaire Michael Novogratz's Galaxy Asset Management division has raised $113 million for its new venture fund, which invests in early-stage startups focused on crypto software, infrastructure, and financial applications.
Key Data
Grayscale Transfers 98,075 ETH to Coinbase Prime Address, Equivalent to $308 Million
Grayscale transferred approximately 98,075 ETH to a Coinbase Prime address, equivalent to $308 million. Of these, 848 ETH were transferred from a Grayscale address starting with 0x39Df to Coinbase Prime, while the rest of the ETH was directly transferred from the Grayscale address to Coinbase Prime. In addition, Grayscale also transferred 1,400 BTC (worth approximately $89 million) to two unknown addresses.
Crypto Mining Firm MARA Purchases $100 Million Worth of Bitcoin, Holding Exceeds 20,000 BTC
According to The Block, the Bitcoin mining firm MARA (recently renamed from Marathon Digital) announced on Thursday that it has purchased an additional $100 million worth of Bitcoin. This acquisition has increased MARA's balance sheet holdings to over 20,000 BTC (approximately $1.3 billion), accounting for nearly 0.1% of the total Bitcoin supply of 21 million.
The Bitcoin miner did not provide specific details on the purchase time and average price. Salman Khan, CFO of MARA, stated that the company is simply "speculatively purchasing Bitcoin in the market under favorable market conditions." However, based on the dollar amount and the holding of 18,536 BTC on the company's balance sheet as of the end of June, the total amount of the latest purchase may be around 1,500 BTC, with the purchase price ranging from $54,000 to $68,000 this month.
Alleged Ethereum Foundation-Associated Wallet Transfers 92,500 ETH After 7 Years of Dormancy
Data from the blockchain analysis platform Arkham Intelligence shows that an address possibly associated with the Ethereum Foundation transferred approximately 92,500 ETH, worth about $290 million, after being dormant for 7 years. These tokens have been held at the same address since 2017. According to Etherscan data, the funds have not yet been transferred from the receiving address, and it is unclear whether the transfer of these funds is the responsibility of the Ethereum Foundation.
According to the expiration data released by Adam@Greeks.live, 61,000 BTC options are set to expire, with a Put Call Ratio of 0.62 and a maximum pain point of $63,500, with a notional value of $41 billion. 490,000 ETH options are set to expire, with a Put Call Ratio of 0.45 and a maximum pain point of $3,350, with a notional value of $16 billion.
According to their analysis, the crypto market has entered a period of adjustment this week, with the listing of ETH ETF triggering a significant drop in ETH, and the ETH/BTC exchange rate falling to its lowest level in months. The implied volatility (IV) of major tenors has rebounded significantly, especially with short-term IV rebounding by over 10%. As the monthly expiration ends and the news from the Bitcoin conference this weekend is digested, the implied volatility next week may face significant downward pressure.
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