Headlines
▌Deutsche Telekom to develop Bitcoin mining business
T-Mobile (Deutsche Telekom) announced that it plans to start developing Bitcoin mining business, expanding its ongoing encryption activities. Dirk Röder, head of Web3 infrastructure and solutions at Deutsche Telekom, spoke at BTC Prague: We have been running Bitcoin nodes since 2023, and we are also running Bitcoin lightning nodes. I want to tell you a little secret, we will soon conduct digital currency mining activities.
▌Chain game Lumiterra Beta2 version is online
According to community news, the chain game Lumiterra Beta 2 version has been officially launched on AppStore and other channels. According to previous news, in order to provide everyone with a stable and high-quality gaming experience, the project officially announced that the launch time of Beta 2 version will be postponed to 3 pm on June 14.
Market
As of press time, according to Coingecko data:
BTC's latest transaction price is $66088.72, with a daily increase or decrease of -0.8%;
ETH's latest transaction price is $3485.19, with a daily increase or decrease of +0.49%;
BNB's latest transaction price is $603.20, with a daily increase or decrease of +0.98%;
SOL's latest transaction price is $143.58, with a daily increase or decrease of -2.26%;
XPR recently traded at $0.475, with a daily change of -0.34%.
Policy
▌US CISA: Scams targeting crypto investors surge
The U.S. Cybersecurity and Infrastructure Security Agency (CISA) issued a warning on June 12 that there has been an increase in impersonation scams, often using "the names and titles of government employees." The CISA alert explained that its staff would never ask for wire transfers of "cash, cryptocurrency, or gift cards." If you suspect you are the target of an imposter claiming to be a CISA employee, do not pay the caller; write down the phone number that called you; hang up immediately and call CISA to verify the contact information.
Blockchain Applications
▌Crypto Staking Company OkayCoin Expands Services to South Korea
Crypto staking company OkayCoin announced the expansion of its services to the Korean market, aiming to support the growing demand for cryptocurrency investments among Korean investors. OkayCoin's expansion in South Korea also includes partnerships with local businesses and community leaders to promote collaboration on blockchain and cryptocurrency technologies.
▌Cross-chain bridge rewards are not available to US citizens
Arweave AO posted on the X platform that cross-chain bridge rewards are not available to US citizens. Currently, Arweave token holders have begun to receive AO and can also accumulate AO by bridging stETH.
▌Vitalik supports the use of the new image compression mode TiTok for on-chain image storage
Ethereum founder Vitalik Buterin introduced a new image compression mode called Token for Image Tokenizer (TiTok) on the decentralized social media platform Farcaster, and said that 320 bits is basically a hash value. Small enough for every user to be on the chain.
It is reported that TiTok was developed by researchers from ByteDance and the Technical University of Munich, and can compress images into 32 small data blocks (bits) without losing quality. According to the TiTok research paper, advanced artificial intelligence (AI) image compression enables TiTok to compress 256x256 pixel images into 32 discrete markers.
Cryptocurrency
▌Data: Cryptocurrency industry fundraising totals $101 billion since 2014
Data collected by DeFiLlama shows that the crypto industry has raised a total of $101 billion since 2014, while The Block Research has counted cumulative investments of more than $95 billion since 2017. Funds raised in the form of venture capital deals and token sales have been the main driver of the crypto industry's growth, but the billions of dollars invested in startups have brought mixed results for investors.
Paul Veradittakit, managing partner of Pantera Capital, a cryptocurrency investment firm with $4.7 billion in assets, said traditional exits in the form of milestone acquisitions and public listings "certainly take longer than expected in traditional venture capital."
He added that Coinbase Global Inc.'s direct listing on Nasdaq during the last cryptocurrency bull run in 2021, which raised $86 billion, was a notable exception, but overall, exits were rare and mainly limited to a small number of trading sales.
▌El Salvador sees Bitcoin as a tool to get rid of its dependence on fiat currencies such as the US dollar
June 15 news, El Salvador's Bitcoin roadmap may include deeper integration of crypto assets as part of its economic future. El Salvador Vice President Felix Ulloa recently said that Bitcoin could be a tool to liberate El Salvador from using fiat currencies including the US dollar.
In an interview with Russia Today (RT) during the St. Petersburg International Economic Forum (SPIEF), Ulloa highlighted the opportunities for economic freedom that Bitcoin adoption brings to the country. When asked about El Salvador's possible de-dollarization and its relationship with Bitcoin, Ulloa stressed that they had studied this case before and that returning to the Salvadoran colon (the country's legal currency) would place a heavy burden on the country.
El Salvador adopted the US dollar in 2020, allowing the use of the dollar in all commercial and financial transactions while seeking to improve its economic data. Ulloa stated that El Salvador wants to free its economy from the central bank and also wants to get rid of potential dependence on fiat currencies such as the US dollar, euro, and pound.
▌Circle Senior Policy Director: Euro Stablecoins Will Continue to Rise in the Coming Days
Patrick Hansen, senior policy director at stablecoin issuer Circle, is sure that euro stablecoins will continue to rise in the coming days. Hansen pointed out in an interview with X that the number of transactions conducted using euro stablecoins was 1.1%.
▌Three separate groups file competing claims for SBF's seized assets
Following his criminal conviction, former FTX CEO Sam Bankman-Fried had $11 billion seized in March for property related to his criminal conduct (including crypto tokens, private jets, funds in bank accounts, etc.).
Now, three separate groups - the FTX debtor estate, a class of creditors, and an offshore entity founded by Sam - have filed competing claims for these seized assets, claiming that they legally belong to them.
The debtor estate claims in the filing that although Bankman-Fried was ordered to forfeit the relevant assets, these assets never belonged to him in the first place because they were the result of his criminal conduct. The document states: "According to the trial results, all specific properties are held in the name of the debtor entity or FTX Digital and/or are fully funded by the debtor's assets."
Important Economic Dynamics
▌Oxford Economics CEO: The Fed may start cutting interest rates in September
Oxford Economics CEO and Chief Economist Adrian Cooper said: Our expectation is that the Fed will start cutting interest rates in the second half of this year, perhaps in September. But this depends largely on the changes in potential inflation, especially relative to wage growth. The rapid rise in labor inflation expectations in the past few years has surprised the Federal Reserve and many central banks. This means that workers are not only seeking wage increases to make up for higher-than-expected inflation in the past, but also because they believe that inflation may remain high, and they are seeking wage increases. I think the Fed wants to see decisive evidence that the process of slowing inflation will continue, not only overall inflation, but also core inflation will return to 2% before it is really ready to cut interest rates significantly.
Golden Encyclopedia
▌What is Validiums
Validiums is a Layer 2 scaling solution that aims to optimize Ethereum's performance by processing transactions off-chain. Vailidiums is mainly responsible for reducing the load on the Ethereum blockchain by processing most transactions off-chain and only sending concise proofs to the mainnet for verification. The off-chain transaction processing method can significantly increase throughput and reduce mainnet congestion, resulting in a more efficient and economical Ethereum experience.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to increase risk awareness.
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