Evening News | Coinbase to Unstake ETH Worth $129 Million; Decentralized Mining Startup WOW EARN Completes $30 Million Series A Financing, with Participation from Pinnacle Innovations Capital
Gary Gensler sent a BNB report written by his students to Zhao Changpeng before serving as the chairman of the SEC; Binance.US will reduce the trading pairs to 10, and USDT trading will not be affected.Organizer: Grapefruit, ChainCatcher
"What important events have occurred in the past 24 hours"
1. Coinbase's pending ETH unstaked amount valued at $129 million, accounting for 79% of all withdrawal entities
According to ChainCatcher, as of June 8, the amount of ETH pending unstaking by Coinbase and related entities is 71,296 (approximately $129 million), which accounts for over 79% of the total amount of entities waiting to withdraw their staked ETH, according to Nansen's dashboard.
Today's news. Since the U.S. Securities and Exchange Commission (SEC) took enforcement action against Coinbase on June 6, 35,810 cbETH have been redeemed, valued at approximately $65.7 million. Among them, the redemption amount on June 6 alone was 27,280 cbETH, valued at approximately $49.1 million. According to Nansen data, the current amount of cbETH staked in Coinbase is 2.328 million, accounting for 10.3% of the total ETH staked. (Source link)
2. Gary Gensler sent a BNB report written by his student to Zhao Changpeng before becoming SEC Chairman
According to ChainCatcher, Kenny, co-founder and COO of Manta Network, stated on Twitter that during the year before he served as a teaching assistant for Gary Gensler (current SEC Chairman) at MIT's Sloan School of Management's Crypto Finance and Blockchain Lab, Gensler sent a report he wrote about BNB to Zhao Changpeng, encouraging him to engage more in crypto. He also had in-depth discussions about crypto projects with Gensler in the summer of 2019.
Kenny expressed that seeing Gensler's lawsuit against Binance and Zhao Changpeng today is an unfortunate outcome, "like watching parents argue," and hopes that "regardless of the outcome of this matter, the hard work of those wise individuals who strive to change the world in this field will be fully considered." (Source link)
3. Binance.US reduces trading pairs to 10, USDT trading unaffected
According to ChainCatcher, Binance.US has released an update on delisting. Based on community feedback, Binance.US will no longer remove any advanced trading pairs involving USDT. All cryptocurrencies and USDT pairs will still be tradable, with only some BTC and BUSD advanced trading pairs being removed.
Earlier news today states that over 100 trading pairs, including 1INCH/USDT, AAVE/USDT, ATOM/BTC, BCH/BTC, HBAR/BUSD, and ONE/BUSD, will be removed at 00:00 Beijing time on June 9. (Source link)
4. Decentralized mining startup WOW EARN completes $30 million Series A financing, with participation from Pinnacle Innovations Capital
According to ChainCatcher, decentralized mining startup WOW EARN announced the completion of a $30 million Series A financing round, with participation from Pinnacle Innovations Capital, Blue Horizon Ventures, Ascendant Growth Partners, Nexus Pioneers Capital, and Quantum Leap Ventures. The funds will be used to expand operations, develop platforms, and strengthen community-based business strategies.
It is reported that WOW EARN has a decentralized mining platform that allows users to participate in mining without any professional experience or mining equipment. (Source link)
5. Zhao Changpeng: Confirms receipt of U.S. District Court subpoena, but does not need to appear in person
According to ChainCatcher, Binance founder Zhao Changpeng confirmed on Twitter that the U.S. District Court has issued a subpoena to him, but he stated that this is part of the SEC's compliance process, and he does not need to appear in person but must respond within the specified time. (Source link)
"What excellent articles are worth reading in the past 24 hours"
1. "IOBC Capital: 5 New Opportunities for Profit from AI + Crypto"
With the rapid development of digital technology, AI and Crypto have become the two hottest topics. AI, as a technological revolution, represents the most advanced productivity; Crypto, based on blockchain technology, represents the fairest production relations. AI and Crypto are continuously changing the way we live and work. This article will explore the integration of AI and Crypto and how they are jointly shaping our future.
2. "Realio Founder: Why Am I Leaving the U.S.?"
I am the founder of the blockchain company Realio, which, as the name suggests, focuses on building digital infrastructure aimed at putting real-world assets (such as real estate) on the blockchain. We started building this company full-time in 2018 and invested a significant amount of time and money in its development. From the beginning, our core focus has been on regulatory compliance, as investing in real-world assets, whether on the blockchain or not, typically requires adherence to securities laws. After all, investing in real estate is not new, and neither are securities laws, so doing this "on the blockchain" sounds very feasible.
This summer, in 2023, I will be leaving the U.S. indefinitely. As a 42-year-old U.S. citizen born and raised here, the sole purpose of this action is to protect my constitutional rights, my family, and my company from excessive government intervention. It feels like a plot from a surreal novel, but this is my story.
3. "Synthetix's Path to Progress: Why Transition from Synthetic Asset Protocol to DeFi Infrastructure?"
From front-end products to becoming the liquidity infrastructure for DeFi, supporting the integration of any derivatives and trading products, Synthetix has completed its strategic transformation. So, how has Synthetix gradually approached its goal of becoming the infrastructure for DeFi liquidity? What has it gone through along the way?
