Daily Report | WisdomTree lists Bitcoin and Ethereum ETPs on the London Stock Exchange; Mt. Gox confirms Bitcoin transfer is in preparation for creditor repayment deadline; Trump previously asked if Bitcoin could help solve the $35 trillion U.S. national debt issue
May 28 News OverviewOrganizer: Fairy, ChainCatcher
Important News:
- Trump once asked if Bitcoin could help solve the $35 trillion U.S. debt problem
- Mt. Gox confirms Bitcoin transfer is to prepare for the October 31 repayment deadline for creditors
- WisdomTree lists physically-backed Bitcoin and Ethereum ETPs on the London Stock Exchange
- NetEase Cloud Music founder Ding Bo starts a second venture, aiming to build a fan-led Web3 music platform
- Trump: If elected president again, he will consider pardoning WikiLeaks founder Julian Assange
- Bloomberg: Russian companies have begun using cryptocurrencies for commodity trading
"What important events have occurred in the past 24 hours"
Trump once asked if Bitcoin could help solve the $35 trillion U.S. debt problem
According to Bitcoin.com, David Bailey, CEO of Bitcoin Magazine and cryptocurrency advisor to Trump's campaign team, revealed that Trump had asked whether Bitcoin could be used to address the U.S. debt issue.
During an X space on Sunday night, Bailey stated that when he first met Trump, Trump asked him if Bitcoin could do anything about the $35 trillion debt. However, Bailey replied that he had some ideas but was not prepared to discuss the topic during their first meeting.
Mt. Gox confirms Bitcoin transfer is to prepare for the October 31 repayment deadline for creditors
According to an official announcement, Mt. Gox confirmed that the transfer of Bitcoin to an unknown address is to prepare for repayments before the October 31 deadline for creditors.
According to the rehabilitation plan, the rehabilitation trustee is preparing to repay the portion of the rehabilitation claims that have been allocated cryptocurrency. This repayment means that, depending on the choice of the rehabilitation creditors, either (i) repayment will be made through designated cryptocurrency exchanges, allowing rehabilitation creditors to receive Bitcoin and Bitcoin Cash, or (ii) repayment will be made through the proceeds obtained from the sale of Bitcoin and Bitcoin Cash.
WisdomTree lists physically-backed Bitcoin and Ethereum ETPs on the London Stock Exchange
According to an official announcement, WisdomTree has listed WisdomTree Physical Bitcoin (BTCW) and WisdomTree Physical Ethereum (ETHW) ETPs on the London Stock Exchange (LSE) today.
These ETPs have a management expense ratio (MER) of 0.35%, making them one of the lowest-cost institutional-grade Bitcoin and Ethereum ETPs, fully backed by the underlying assets.
Hong Kong SFC: The non-violation period for virtual asset trading platforms operating in Hong Kong will end on June 1
The Hong Kong Securities and Futures Commission (SFC) issued a statement regarding the end of the non-violation period for virtual asset trading platforms, reminding the public that the non-violation period applicable to virtual asset trading platforms operating in Hong Kong under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) will end on June 1, 2024.
Xinghuo Technology sells all claims at 107.8% of the original claim amount from FTX, totaling $19.5 million
Hong Kong-listed company Xinghuo Technology announced that it sold all claims at 107.8% of the original claim amount from FTX, totaling $19.5 million. The announcement stated that Hbit Limited is the seller, and Ceratosaurus Investors, L.L.C. is the buyer. The seller has agreed to sell, while the buyer has agreed to purchase all rights, ownership, and interests of the seller in the FTX claims.
NetEase Cloud Music founder Ding Bo starts a second venture, aiming to build a fan-led Web3 music platform
According to reports from Baoliaotai, Ding Bo, Vice President of NetEase Cloud Music, has started a new venture in December 2023. It is reported that Ding joined NetEase in 2009, responsible for music-related content, and has held positions such as editor-in-chief of NetEase Entertainment Center, editor-in-chief of the Music Center, deputy director of the Music Center, and deputy general manager of NetEase Music Division. Information shows that Ding was fully responsible for operational management before leaving NetEase Cloud Music. Ding is committed to building a fan-led Web3 music platform, utilizing NFR technology to assetize copyright content and attract the public to become investors in copyright content, aiming to enhance the financial attributes of digital music copyrights.
Bithumb will list AR and ENS KRW trading pairs
Bithumb announced that it will launch AR and ENS KRW trading pairs today, with trading opening at 17:00 and 14:30 respectively.
Trump: If elected president again, he will consider pardoning WikiLeaks founder Julian Assange
According to Bitcoin Magazine, Trump stated that if elected president again, he would consider pardoning Julian Assange, the founder of WikiLeaks.
It is reported that Julian Assange is an Australian journalist and activist who founded the whistleblowing website WikiLeaks in 2006. He is known for publishing a large number of classified documents and is currently facing extradition requests and multiple charges from the U.S., having been held in London's high-security Belmarsh prison since April 2019.
Uniswap Foundation: Uniswap v4 will be launched later this year, with auditing work starting this week
The Uniswap Foundation stated on social media that Uniswap v4 will be launched later this year, ensuring that the v4 code undergoes rigorous auditing before deployment to Ethereum. Currently, the foundation has partnered with Uniswap Labs to select five top auditing firms, with auditing work starting this week and continuing over the next few months.
Data: As of Q1 2024, Soros Fund holds $135 million in MicroStrategy stock
According to Finbold, Hungarian-American billionaire and hedge fund manager George Soros disclosed his holdings in the Q1 2024 13F filing. As of Q1 2024, Soros Fund Management has 193 positions with a total value of approximately $6 billion. Major investments include Alphabet, AerCap Holdings, and Rivian. Notably, the fund also holds MicroStrategy (NASDAQ: MSTR) stock valued at approximately $135 million.
Bloomberg: Russian companies have begun using cryptocurrencies for commodity trading
According to Bloomberg, at least two top metal producers in Russia have begun using Tether's stablecoin and some other cryptocurrencies to settle some of their cross-border transactions with suppliers. Company executives stated that they refused to disclose their identities as the information is not public. In some cases, settlements are completed via Hong Kong.
"What excellent articles are worth reading in the past 24 hours"
Forbes interview with former CFTC chairman: Cryptocurrency will eventually make a comeback in the U.S.
Christopher Giancarlo, the 13th chairman of the U.S. Commodity Futures Trading Commission (CFTC), is also a member of the U.S. Financial Stability Oversight Council, the President's Working Group on Financial Markets, and the Executive Committee of the International Organization of Securities Commissions. Giancarlo is also the author of "CryptoDad - The Fight for the Future of Money," which discusses his views on the world's first regulated Bitcoin derivatives market and the upcoming transformation of financial services into a digital network.
Forbes recently interviewed Christopher Giancarlo. In this interview, we discussed the current regulatory landscape for cryptocurrencies, the prospects for new cryptocurrency legislation, whether the U.S. is falling behind other countries, and how the presidential terms of Trump and Biden will affect the cryptocurrency industry in the next four years.
Mt. Gox transfers nearly $10 billion in BTC, is a market crash really coming?
On May 28, multiple large BTC transfers from Mt. Gox triggered some market panic.
According to Whale Alert monitoring, as of 14:11:04 Beijing time, Mt. Gox has transferred a total of 141,658 BTC (approximately $9.6 billion). This is the first significant asset movement from the Mt. Gox wallet address since 2018.
CryptoQuant researcher Axler Adler Jr stated on X, "All funds in the Mt. Gox cold wallet have been transferred to a new wallet: the address starting with 1JbezD currently has a balance of 141,000 BTC."
According to Mt. Gox's creditor compensation plan, Mt. Gox needs to distribute its holdings of 142,000 BTC and 143,000 BCH to creditors by October 31, 2024.
Real user numbers are dismal, is the $150 million raised by Farcaster a setup for VCs to benefit LPs?
Farcaster is a small Twitter-like platform for crypto/Web3; how did it manage to raise $150 million at a $1 billion valuation?
Dune Analytics shows that Farcaster has 45,000 daily active users. This number is not impressive and is even negligible in the social category. Moreover, this figure is inflated by bot activity.
Evidence that Farcaster has about 5,000 DAU (daily active users):
I believe Farcaster's DAU is between 50 and 5,000, rather than the 45,000 shown in Dune Analytics data.
The official Farcaster client has a public API endpoint to "get all power badge users," which roughly corresponds to real non-bot DAU. The API returns data showing ------ 4,387 users.
