[Link to FM] Coinbase will list BitDAO (BIT) and Coin98 (C98), and the SEC will investigate BNB

【Data Intelligence】

NFT game Illuvium land sales exceed $72 million

On June 6, the NFT game Illuvium conducted a land sale from June 2 to June 5. Among the 20,000 available land, 19,969 were successfully sold, and the remaining 31 land will be reserved as gifts. The income from land sales was nearly 72.19 million US dollars.

The total amount locked in the Ethereum L2 network is $5.05 billion

According to L2BEAT data, as of June 7, the total locked position on Ethereum Layer 2 was 5.05 billion US dollars. Among them, the expansion program Arbitrum has the highest amount of locked positions, which is about 2.5 billion US dollars, accounting for 46.86%. Followed by dYdX, the lock-up volume is 965 million US dollars, accounting for 19.11%.

【 Regulatory News 】

The Hong Kong Securities Regulatory Commission reminds investors to pay attention to the risks related to NFT

On June 6, the Hong Kong Securities Regulatory Commission reminded investors to pay attention to the risks associated with non-homogeneous tokens (NFT). It pointed out that NFT, like other virtual assets, faces higher risks, including insufficient liquidity in the secondary market, price fluctuations, lack of transparency in pricing, risks of hacking and fraud. Investors should be aware of these risks and should not invest in these assets if they do not fully understand NFTs and bear potential losses. In addition, the Hong Kong Securities Regulatory Commission stated that some NFTs cross the line between collectibles and financial assets, such as subdivision or homogenization with a structure similar to "securities" or especially "collective investment schemes" NFT. If an NFT constitutes an interest under a collective investment scheme, the promotion or distribution of the NFT may constitute a "regulated activity". Anyone wishing to carry on a regulated activity must be licensed by the SFC unless exempted.

South Korea plans to unify token listing and delisting standards on crypto exchanges

According to news on June 7, South Korean regulatory authorities will hold a symposium on June 13 to announce self-regulatory regulations. Representatives of Korbit, Coinone, Gopax) will attend the meeting, which will include exchanges unifying token listing and delisting standards, formulating self-regulatory guidelines, etc.

【Industry Trends】

STEPN: Most of the problems caused by DDOS attacks have been solved

On June 7th, the Move to Earn app STEPN posted on its official social media platform, "Due to a DDOS attack yesterday, which affected a large number of our users." The team promised to provide updates on the DDOS situation, in order to ensure the security of the server With stability restored, the announcement was postponed. At present, the STEPN team has solved most of the problems caused by DDOS attacks, and users can now walk, jog or run without errors.

Lido developers propose that Lido DAO sell 10,000 ETH to cover Lido’s operating expenses for the next two years

On June 6, Lido Finance's core developer kadmil put forward a proposal for the governance platform Lido DAO to sell 10,000 ETH (approximately $19 million) from its treasury funds to cover Lido's operating expenses for the next two years. Kadmil said that if the price of ETH falls in the future, the DAO's resources for operating expenses and reimbursement of DAO contributors will be greatly reduced. Lido DAO currently holds a total of $230 million in its treasury, including 166 million Lido DAO (LDO) Token, 20,940 ETH, and 3,836 pledged ETH.

FTX will delist RUNE from the spot market

On June 6, according to official news, FTX will delist RUNE from the spot market and consider re-listing in the future after completing the integration of RUNE mainnet. The RUNE spot market will be suspended on June 13, 2022 at 2AM (UTC). All RUNE/USD and RUNE/USDT orders will be cancelled. RUNE deposits will be suspended. Remove RUNE as a non-USD collateral asset. Please make sure you have enough collateral after exiting. The RUNE spot lending position will be automatically closed at the price of the 1-hour TWAP index. After the spot lending is no longer supported, it will continue to support the exit of RUNE.

BlockFi is raising a new funding round at a $1 billion valuation

According to people familiar with the matter, BlockFi, an encrypted financial services company, has completed a new round of financing at a valuation of US$1 billion. Compared with the previous financing, this financing will be financed at a lower valuation. Firm Bain Capital Ventures led the round, with participation from DST and Valar. According to reports, BlockFi raised funds last year at a valuation of more than $5 billion. The company was founded by Zac Prince and Flori Marquez in 2017 to provide a way to borrow funds using its encrypted assets. Announced raising $350 million at a $3 billion valuation.

People familiar with the matter: the US Securities and Exchange Commission launched an investigation into the world's fifth largest token BNB

According to news on June 7, according to people familiar with the matter, the US Securities and Exchange Commission is investigating whether the trading platform Binance violated securities rules by issuing Binance Coin (BNB) when it was just starting five years ago. The SEC review took an in-depth look at where the company and its BNB token came from. Investigators are looking into whether Binance’s initial coin offering (ICO) in 2017 amounted to a sale of a security that was supposed to be registered with the agency, the people said. The scrutiny of BNB’s early days could be troubling for Binance, which faces multiple investigations in Washington. The SEC has taken dozens of enforcement actions against ICOs.

【Elite Viewpoint】

Bitfinex CTO responds to Ethereum liquidation data error: the data is the remaining position

On June 6, Paolo Ardoino, Chief Technology Officer of Bitfinex, responded that today's CryptoQuant data showed that the short liquidation amount of Ethereum reached a new high in 3 years, which was a "misreading". Check how this can be clarified better in the API docs, currently some sites have been adjusted. Previous data from Coinglass showed that in the past 24 hours, the liquidation of the entire network was 809 million US dollars, of which the liquidation of Ethereum was 699 million US dollars. As of press time, the latest data from Coinglass showed that the liquidation of liquidation in the past 24 hours was 134 million US dollars, of which 436.89 million US dollars were liquidated in Ethereum. Ten thousand.

Binance: Cryptocurrency is more transparent than cash, has discussed with multiple law enforcement agencies on combating fraud, etc.

On June 7th, Binance issued a response to Reuters’ investigative article, saying that Chainalysis data shows that in 2021, 0.15% of all transactions using cryptocurrencies will be related to some type of illegal activity. The United Nations estimates that traditional fiat currencies 2% to 5% (about $800 billion to $2 trillion) of (cash) is tied to some type of illicit activity, and cryptocurrencies are very transparent, much more so than the traditional cash economy. In addition, Binance has cooperated with several law enforcement agencies to discuss the modus operandi used by different criminal groups and the measures that can be taken to effectively combat fraudulent investment schemes. Earlier news, a survey released by Reuters showed that Binance has provided money laundering channels for at least $2.35 billion in illegal funds in the past five years. These transactions come from hackers, investment fraud and illegal drug sales. Additionally, the SEC launched an investigation into BNB, according to people familiar with the matter.

【What to watch today】

Coinbase will list BitDAO(BIT) and Coin98(C98)

On June 7, Coinbase will list BitDAO (BIT) and Coin98 (C98). If the liquidity conditions are met, the transaction will start at or after 0:00 on June 8, Beijing time. If sufficient liquidity of the corresponding assets is established, Trading of BIT/USD, BIT/USDT, C98/USD and C98/USDT trading pairs will be opened in stages. Among them, Coinbase only supports BIT and C98 on the Ethereum network (ERC-20), and users should not send this asset through other networks, otherwise funds may be lost.

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