Golden Weekly is a weekly blockchain industry summary column launched by Golden Finance, covering key news of the week, market and contract data, mining information, project dynamics, technological progress and other industry dynamics. This article is a project weekly, taking you to see the progress of mainstream projects and star projects this week.
Informed sources: MetaMask will integrate native Bitcoin
Golden Finance reported that according to informed sources, Ethereum wallet MetaMask is integrating native Bitcoin (BTC). One person familiar with the matter said access could be available within the next month, while another person said that the exact functionality of Bitcoin has not yet been determined, but the functionality may be limited initially and expanded over time.
Bitcoin white paper returns to Bitcoin.org
After Craig Wright failed in his attempt to prove in court that he was Satoshi Nakamoto, the pseudonymous creator of the Bitcoin protocol, Bitcoin.org maintainer Hennadii Stepanov announced the return of the Bitcoin white paper by sharing a pdf link on X.
British media: 61,000 Bitcoins in Qian Zhimin case may belong to British police and Home Office
According to the Daily Economic News, on Friday local time, a court in London, England, made a sentencing ruling on a money laundering case involving Bitcoin. A Chinese-British woman, Jian Wen, was sentenced to 6 years and 8 months for assisting her employer in money laundering. During the trial, Jian Wen admitted that she participated in the processing of some cryptocurrencies, but did not know that they were proceeds of crime. Her defense lawyer, Mark Harrie, said that Wen Jian came from a low-income family and was also a victim who was deceived and used by Qian Zhimin. The Financial Times reported that the British Crown Prosecution Service has filed a civil recovery procedure with the High Court for these seized assets. If no one else claims the rights to the criminal assets, half will belong to the British police and the other half will be assigned to the British Home Office. Huang Feng, a professor at the G20 Anti-Corruption, Fugitive and Asset Recovery Research Center of Beijing Normal University, said that according to British law, if the property victim makes a relevant claim, the British court will suspend the civil recovery application filed by the British law enforcement agency to determine the ownership of the relevant property.
The proportion of Bitcoin holders for three years or more hit a record high
The proportion of Bitcoin holders who have held for three years or more hit a record high.
Grayscale: Stacks Trust helps introduce DApps into the Bitcoin ecosystem and increase institutional interest
Grayscale announced yesterday the creation of Stacks and Near Trusts, the first time Grayscale has created a new virtual currency trust since 2024. Grayscale said that Stacks will help introduce smart contracts and decentralized applications (dApps) into the Bitcoin ecosystem, which will increase institutional interest. Stacks is a Bitcoin layer2 project founded in 2017. The initial version is fully linked to the Bitcoin UTXO mechanism, and the transaction speed is completely synchronized with Bitcoin, and the experience is poor. The latest Nakamoto upgrade is now fully launched in August, which will bring a transaction speed of about 10 seconds, greatly improving the interactive experience of the Stacks ecosystem.
Bitcoin mining difficulty increased by 1.48% to 84.38 T
According to BTC.com data, Bitcoin mining difficulty ushered in a mining difficulty adjustment at block height 844,704 (2024-05-2314:18:50), and the mining difficulty increased by 1.48% to 84.38T. The current network computing power is 612.18EH/s.
Bloomberg ETF analyst: Ethereum ETF may only account for 15% of Bitcoin ETF assets
The bullish trend has led some market analysts to predict that ETH ETFs will see a large inflow of funds, similar to the success of the BTC ETF launched in January. According to Farside Investors, since the launch of spot Bitcoin ETFs in the United States, these funds have accumulated about $13 billion in assets under management. However, Bloomberg ETF analyst Eric Balchunas remains skeptical, saying that an Ethereum ETF could take up just 15% of Bitcoin ETF assets.
Major Companies Like Meta Could Buy Spot Bitcoin ETFs Next Year
Bitwise CEO Hunter Horsley discussed how institutional and regulatory acceptance of Bitcoin as an investable asset is developing faster behind the scenes than most people realize. Horsley predicts that by next year, large tech companies like Meta could be adding Bitcoin to their balance sheets as ETFs make the asset easier to hold. He claims that the next catalyst for Bitcoin’s bull run will be the public’s awareness of “the extent of support for Bitcoin from some of the most important and smartest organizations and lawmakers.”
Standard Chartered Bank executives: Bitcoin is expected to hit a record high over the weekend
Geoff Kendrick, head of foreign exchange research and digital asset research at Standard Chartered Bank, said that Bitcoin is expected to hit a new record high by the weekend, exceeding the $73,798 level on March 14. Kendrick added that he is more confident in the Bitcoin price target of $150,000 by the end of 2024 and $200,000 by the end of 2025.
US SEC officially approves all spot Ethereum ETFs
The U.S. Securities and Exchange Commission (SEC) has officially approved all spot Ethereum ETFs.
Spot Ethereum ETF Trading "Inevitable"
Former SEC Chairman Jay Clayton said that trading in a spot Ethereum ETF would be "inevitable," but there are still questions. Clayton noted that the approval of an Ethereum ETF is a two-step process, with listing approval already granted, but approval of the product itself is still pending. He believes that such approval is inevitable, although there are still some issues to be resolved. Comparing the differences in approvals for Ethereum and Bitcoin ETFs, Clayton mentioned that the underlying cryptocurrencies of the two have different answers on whether they are considered securities or commodities. He noted that while Ethereum's underlying trading is still not clearly classified, the market for spot trading in Bitcoin and Ethereum has developed significantly. Although the specific details of the Ethereum ETF have not yet been determined, it is expected that the funds may begin trading in July or August.
Ethereum Pectra upgrade is scheduled for the first quarter of 2025
According to ETH Daily, the Ethereum Pectra upgrade is scheduled for the first quarter of 2025, and the upgrade is expected to include EOF, PeerDAS and EIP-7702, among other proposals.
Approval of US Ethereum spot ETF puts pressure on South Korean regulators
South Korean regulators are facing market pressure to approve cryptocurrency exchange-traded funds (ETFs) after the U.S. Securities and Exchange Commission (SEC) approved the Ethereum spot ETF. The decision is expected to force Seoul's financial regulator to re-examine its stance on digital assets. South Korea's Financial Services Commission (FSC) and Financial Supervisory Service (FSS) have been cautious about introducing crypto asset trading to traditional securities markets. According to the FSC, ETFs must strictly follow the Capital Markets Act and can only be linked to traditional underlying assets. The South Korean government updated the Virtual Asset User Protection Act in early February. Xangle, a major digital currency data provider in Seoul, publicly criticized the practice of banning digital assets in the traditional securities market, calling it "outdated" and in need of revision. Jung Eui-jung, chairman of the Korea Shareholders Alliance, stressed that Seoul should follow the United States' approval of Bitcoin and Ethereum ETFs to reduce industry frustration. He warned that if South Korea moves slowly and the United States continues to move forward, investors may turn to the U.S. market, and it is only a matter of time before the United States fully opens its market to other cryptocurrencies.
Ethereum Foundation: Addressing Potential Conflicts of Interest
Aya Miyaguchi, executive director of the Ethereum Foundation, said the foundation is accelerating the formulation of formal policies to address potential conflicts of interest. Earlier, two Ethereum Foundation researchers disclosed that they received a "substantial" amount of token incentives from the EigenLayer project. Miyaguchi said on the X platform that the neutrality of the Ethereum Foundation is essential to fulfilling its role in the ecosystem. It is not enough to rely on culture and personal judgment to deal with such issues. The development of formal policies has been going on for some time, which will speed up this work and share progress soon.
Viewpoint: Ethereum ETF does not require US SEC vote approval, which is a positive signal for other cryptocurrencies
The US SEC approved the Ethereum ETF through authorization, a decision that may have a significant impact on the cryptocurrency market. Unlike the Bitcoin ETF, which required SEC vote approval in January, this approval did not go through a public voting process by the commissioners. James Seyffart pointed out that this approval method means that any commissioner (such as Crenshaw) can request a review, but this will not change the decision. The lack of public voting has raised questions about the political power within the SEC. Seyffart emphasized that while authorization is the norm for many decisions, the lack of transparency in this case has led to speculation about the positions of the commissioners. Seyffart believes that the lack of detailed voting records obscures the political boundaries in the approval process.
U.S. SEC spokesperson: No comments on anything other than the approval order for the spot Ethereum ETF
A spokesperson for the U.S. Securities and Exchange Commission (SEC) said the agency would not comment on anything other than the approval order for the spot Ethereum ETF.
Market participants: The cancellation of pledges for the spot Ethereum ETF may reduce the attractiveness of the fund
Many in the cryptocurrency market believe that key changes to some applications of the proposed spot Ethereum ETF will benefit the Ethereum blockchain, but will put future ETF products themselves at a disadvantage. Issuers including Fidelity Investments and Ark Investment Management have canceled their pledge plans. The cancellation of the ETF's pledge plan did not surprise many observers because regulators believe that Ethereum's basic mechanism is similar to cryptocurrency lending. Ayesha Kiani, chief operating officer of crypto hedge fund MNNC Group, said that currently, pledges are seen more as a security because pledged ether can provide returns. This is the best example of the intersection of decentralization and SEC standards. Owning Ether without staking the tokens means that the holder is not helping to secure the blockchain, which is a problem because it gives people like Fidelity or VanEck an opportunity to contribute to the Ethereum network.
Coffeezilla accuses AI company Rabbit of NFT scam
Golden Finance reported that YouTube investigator Stephen Findeisen ("Coffeezilla") accused artificial intelligence company Rabbit of planning an NFT scam and trying to conceal it. On May 21, Findeisen posted a video on the Coffeezilla channel, exposing Rabbit AI's involvement in NFTs. He pointed out that the company, previously named Cyber Manufacture Co., raised $6 million for an NFT project called Gama. According to Coffeezilla, the company claimed that the funds were only used for NFT projects.
Mocaverse announces MOCA token airdrop details, Moca NFT allocates 10% of total MOCA
On May 22, Mocaverse, a Web3 metaverse project under Animoca Brands, announced the details of the MOCA token airdrop on the social platform. Moca NFT allocates 10% of the total MOCA (i.e. 31.7% of the entire network incentive allocation), of which 1/3 will be unlocked on TGE. The Moca ID airdrop will be launched in two phases. The TGE unlocking of "network incentives" has increased from 15% to 20%. The upper limit of the total airdrop amount will be limited by the unlocking of the first two batches of network incentive allocations (the first batch is unlocked by TGE, and the second batch is unlocked by TGE+1 month). Consider incorporating external communities into airdrop distribution, including but not limited to strategic partnerships and marketing incentives.
Orderly Network cooperates with Quickswap to launch decentralized perpetual exchange QuickPerps:Falkor
On May 23, NEAR ecological transaction protocol Orderly Network cooperated with Quickswap to launch decentralized perpetual exchange QuickPerps:Falkor, providing zero-Gas leveraged transactions.
POLITICO: U.S. House of Representatives members urged the SEC to approve Ethereum ETF
Golden Finance reported that according to POLITICO, members of the U.S. House of Representatives have urged the U.S. Securities and Exchange Commission (SEC) to approve the Ethereum ETF because it provides investors with a regulated, transparent and secure way to access cryptocurrencies.
Founder of Ava Labs: Avalanche will undergo a major upgrade this year, aiming to achieve more than 100,000 TPS
On May 23, Ava Labs founder and CEO Emin Gün Sirer tweeted that Avalanche will undergo a major upgrade this year, including HyperSDK (single-instruction blockchain startup tool), decoupled SMR (more than 100,000 TPS), multi-dimensional fees (fee isolation), and ACP77 (sovereign blockchain, a major "merger" of upgraded subnets).
RISC Zero brings validity proof to OP Stack through its ZK block prover Zeth
Golden Finance reported that Risc Zero, a developer of zero-proof software, tweeted that its Ethereum open source ZK block prover Zeth has integrated the Optimism infrastructure, supporting the provable construction and export of Optimism blocks from the Ethereum mainnet, verifying concise proofs on the chain, and bringing ZK fraud and validity proof development to OP Stack. The integration makes use of revm, alloy, and etherscrates.
Algorand Foundation's new ad slams BTC, ETH, and Solana
Golden Finance reported that the Algorand Foundation released a new ad on YouTube titled "When blockchain meets the real world, only one can be realized." The ad shows a supermarket checkout where shoppers try to pay using three different crypto assets: Bitcoin, Ethereum, and Solana. In the ad, the person trying to pay with Bitcoin is told by the cashier that he has to wait because the transaction will take 27 minutes. The Ethereum payer is told that the transaction will be charged a fee of $112, while the shopper who chooses Solana cannot pay because the transaction keeps failing. Using Algorand to process the customer's checkout queue, the result is "instant completion, low fees." The ad has been viewed more than 700,000 times on X, and one commenter said: "Algorand runs at 21TPS and cannot fund its main explorers, but has invested more than $100,000 in advertising. This is not the way to do things."
LayerZero co-founder: Hunters can only get 10% of what the witch originally deserves, but if the witch is 0, the hunter is also 0
Golden Finance reported that LayerZero co-founder and CEO Bryan Pellegrino said on the X platform that in the witch hunting bounty event, bounty hunters can get 10% of the airdrop rewards originally due to the witch address they hunted, and the remaining 90% will be returned to eligible addresses. If the witch address originally deserves 0 tokens, then the bounty hunter will also get 0. Some netizens commented under the post that the project should publish eligibility criteria so that people no longer waste time reporting "worthless" witches.
Bancor: Centralized Liquidity 2.0 is now available on Ethereum, Base, etc.
Golden Finance reported that the open source DeFi protocol ecosystem Bancor announced on the X platform that Centralized Liquidity 2.0 is now available on Ethereum, Base, Fantom, Mantle and the upcoming Sei Network v2, which will provide greater flexibility and lower fees.
Serenity Shield's token experienced a catastrophic plunge following a breach in its MetaMask wallet. While the team is diligently addressing the situation, concerns linger regarding the security practices employed and the impact on the community's trust.
Cheng YuanMetaMask may be facing its toughest test since its founding.
JinseFinanceDante Cook, Head of Business at Swan Bitcoin, reveals why American athletes and NFL players are attracted to Bitcoin’s value proposition.
JinseFinanceJinseFinanceJinseFinanceBitcoin's September surge sets stage for bullish October as experts highlight positive signals and technical indicators.
BitcoinworldMetaMask revealed the update on April 5.
BitcoinworldThis means that users can now lock up their Ethereum through the new feature via Lido or Rocket Pool to earn financial r...
decrypt
NulltxOnly Wrapped Bitcoin (wBTC) can be stored on MetaMask, as this wallet only holds Ethereum DApps.
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