Headlines
▌Bitcoin Layer 2 Stack did not produce blocks for nearly 9 hours this morning
Bitcoin Layer2 Starx suffered a network outage this morning and did not produce blocks for nearly 9 hours. The official attributed the incident to Bitcoin reorganization (reorg) and "unexpected miner behavior. Block production has now resumed.
▌Bloomberg ETF Analyst: The launch date of the spot Ethereum ETF may be brought forward to July 2
Bloomberg ETF analyst Eric Balchunas posted on the X platform: "The launch date of the spot Ethereum ETF may be brought forward to July 2. I heard that the staff sent comments on the S-1 to the issuer today, and the comments were very brief. There was no major problem and asked for a reply in a week. There's a good chance they'll announce it next week and have it resolved before the holidays. Anything is possible, but this is our best guess at this point. The previous prediction date was July 4, so this isn't a major shift. ”
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 US dollars, and the intraday increase or decrease is -2.26%；
DOGE's latest transaction price is 0.1353 US dollars, and the intraday increase or decrease is -4.05%；
XPR's latest transaction price is 0.475 US dollars, and the intraday increase or decrease is -0.34%。
Policy
▌Oklahoma Governor Signs Bill to Exempt BTC Miners from Electricity Sales Tax
Oklahoma Governor Signs Bill to Exempt BTC Miners from Electricity Sales Tax。
▌Japan Financial Services Agency Issues Warning on Overseas Cryptocurrency Exchange LBank Exchange
On June 14, the Japan Financial Services Agency issued a warning to the overseas cryptocurrency (virtual currency) exchange "LBankExchange", claiming that it provides unregistered virtual currency transactions. The Financial Services Agency stated that LBank Exchange "has an unknown location and unknown representative, and conducts crypto asset trading business for Japanese residents through the Internet." According to CoinGecko, LBank ranks 56th among small and medium-sized exchanges in the 24-hour spot trading volume ranking.
▌US lawmakers discuss embracing Bitcoin's potential to secure the financial future
U.S. Senators Cythina Lummis and Vivek Ramaswamy discussed the "huge potential for the United States to embrace Bitcoin" to "secure the nation's financial future."
▌Federal Reserve Takes Cease-and-Desist Order Against Evolve Bank
Evolve Bank and Trust reached a cease-and-desist order agreement with the Federal Reserve, which found that the bank had unsafe and unsound operations in some fintech collaborations and lacked adequate anti-money laundering controls. Evolve has come under scrutiny due to the failure of intermediary Synapse Financial Technologies, which resulted in the freezing of accounts for many fintech users. The issue was compounded by disagreements over account amounts between Synapse and Evolve's accounts, as well as the accounts of some fintech companies. Evolve plays an important role in the cryptocurrency ecosystem, including providing financial services to BlockFi and FTX clients. The cease and desist order requires Evolve to submit a more detailed compliance plan and updated due diligence procedures to ensure that it has sufficient customer information.
▌South African President Cyril Ramaphosa was successfully re-elected
South African President Cyril Ramaphosa was successfully re-elected and will lead the country's first multi-party coalition government. Cyril won 159 seats, which was less than a majority, and formed a national unity government with the Democratic Alliance, the Inkatha Freedom Party and the Patriotic Alliance. Cyril will continue to govern for five years, but will no longer have a strong majority support advantage.
The election has little impact on the cryptocurrency industry in South Africa. The Financial Sector Conduct Authority (FSCA) established a cryptocurrency licensing system, making South Africa one of the first countries in Africa to implement the system. Companies such as Luno, Zignaly and VALR have obtained licenses. South Africa has included crypto services in the Financial Advisory and Intermediary Services Act to regulate digital assets.
The inter-governmental fintech working group plans to review stablecoin use cases and explore the impact of tokenization. Since April, South Africa has consulted on the directive to include cryptocurrencies in the travel rules, requiring wallet and passport information to be transmitted when transferring money to curb money laundering.
▌US SEC Chairman: The economic substance of the product determines whether it is a security under the securities law
The U.S. Securities and Exchange Commission (SEC) issued an announcement stating that Terraform Labs PTE, Ltd. and Do Kwon agreed to pay more than $4.5 billion and were sentenced to compensation for a fraudulent activity that lasted for several years. The fraud involved crypto asset securities, which caused investors to suffer huge losses when the plan collapsed. Securities and Exchange Commission Chairman Gary Gensler said that this case confirmed the fact that has been reiterated: the economic substance of the product, not the label, publicity or hype, determines whether it is a security under the securities law.
▌Japan's Marui Group announces issuance of 170 million yen digital green bonds through Securitize
Marui Group (Marui), a major Japanese retailer, issued digital green bonds through Securitize Japan, a subsidiary of Securitize Japan. However, the scale of this issuance is not large, only 170 million yen (1.1 million US dollars). The investment targets are Marui's EPOS credit card holders. The 1% interest on the bonds is paid partly in EPOS points and partly in cash.
Blockchain Application
▌Jupiter: Value Average is now online
Solana Ecosystem DEX Jupiter announced on the X platform that Value Average is now online on Jupiter as part of the V3 version release. It is reported that Value Average aims to expand the portfolio by adjusting the user's investment according to market trends, buying more when prices fall and less when prices rise.
▌CARV, a modular data layer development project, completes a new strategic round of financing
CARV, which provides modular data layers for the game and AI industries, announced on the X platform that it has completed a new strategic round of financing. Double jump.tokyo Inc, a Japanese Web3 game company, participated in the investment. The specific amount and valuation data have not been disclosed. Double jump.tokyo Inc is the developer of the game Layer 1 blockchain Oasys. After this round of financing, it will become the node operator of the decentralized data layer of CARV and explore technical integration with CARV. It is reported that the core users of CAR will be able to receive Oasys token airdrops.
Cryptocurrency
▌A victim lost $64,303 by copying the wrong address
According to Scam Sniffer, a victim lost $64,303 by copying the wrong address from the contaminated transfer records.
▌Trump: Will end Biden's war on cryptocurrency and ensure that the future of Bitcoin is made in the United States
Donald Trump said he would "end Joe Biden's war on cryptocurrency and ensure that the future of cryptocurrency and Bitcoin will be made in America."
▌American mining executives founded the Bitcoin Voter Project to influence cryptocurrency voters
Executives from three large American cryptocurrency mining companies have established the non-profit Bitcoin Voter Project to educate voters about Bitcoin and plan to launch before the 2024 presidential election. Jayson Browder of Marathon Digital Holdings and executives from Riot Platforms and CleanSpark form the organization's board of directors. The organization is registered as a 501(c)(4) organization and cannot primarily support a candidate or political party.
The project has about $5 million for research and voter education, with the goal of getting voters to support candidates who support digital assets. With Coinbase's Stand With Crypto Unlike PACs, Bitcoin Voter Project currently does not list specific candidates or crypto-related legislation. Browder emphasized that the organization is nonpartisan, aims to identify and educate potential voters, and plans to influence political elections in the future.
Many representatives of crypto advocacy organizations have expressed support for Bitcoin Voter Project, and as of June 14, the organization has hundreds of people registered.
▌Aptos daily trading volume increased by more than 1,400% in three days
According to The Block data shows that the number of transactions by Aptos users rose from 3 million on May 23 to 47.18 million on May 26, a surge of 1,466% in three days. The 7-day moving average of active addresses on Aptos has also rebounded, climbing from 61,000 at the beginning of May to more than 150,000 at the end of the month. It is reported that the recent surge does not seem to be related to the mass adoption of the Aptos blockchain, but a new clicker game called "Tapos", which was launched around the end of May and users can get HEART tokens in return.
▌Ethereum has about $11.64 million in on-chain lending and liquidation quotas around $3234
According to DefiLlama data, Ethereum has about $11.64 million in on-chain lending and liquidation quotas around $3234.
Important Economic Dynamics
▌Fed Mester: It may take until 2026 to reach an inflation rate of 2%
In an interview with Bloomberg TV, Loretta Mester, 2024 FOMC voting member and president of the Cleveland Fed, said that the lower inflation rate in May was good news, but the central bank needed to "watch this situation continue for some time" before cutting interest rates. Therefore, there is still a lot of work to be done to gain confidence in fighting inflation. The median economic forecast is close to its view of the economy. It is hoped that there will be a few more months of similar inflation data. It may take until 2026 to reach an inflation rate of 2%.
▌The three major U.S. stock indexes closed mixed
The three major U.S. stock indexes closed mixed, with the Dow Jones Industrial Average down 0.15%, a cumulative decline of 0.54% this week, and four consecutive daily declines; the S&P 500 fell 0.04%, a cumulative increase of 1.58% this week, ending a four-day daily increase; the Nasdaq rose 0.12%, a cumulative increase of 3.24% this week, and continued to hit a record high for five consecutive trading days. Large technology stocks rose and fell, with Netflix up more than 2%, Nvidia up more than 1%, Google, Microsoft, and Meta up slightly; Tesla fell more than 2%, Apple and Amazon fell slightly. Among them, Nvidia and Microsoft continued to hit record closing highs. Broadcom rose more than 3%, and this week's cumulative increase was more than 23%, setting the largest single-week increase in history.
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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