Daily Report | Upbit will launch TAIKO KRW, BTC, and USDT trading pairs; Ukrainian police dismantle an international crypto fraud gang, 14 arrested; zkSync v24 version update has completed review and is scheduled to be deployed to the mainnet on June 6
June 5th News OverviewOrganizer: Luan Peng, ChainCatcher
Important News:
- Upbit will launch TAIKO KRW, BTC, USDT trading pairs
- zkSync v24 version update has completed review, scheduled for deployment to mainnet on June 6
- Data: The trading volume of 6 Hong Kong virtual asset ETFs today is approximately 25.6928 million HKD
- BlackRock and Citadel plan to launch a national securities exchange, expected to start operations in 2025
- Singapore fintech company Nium, which has crypto business, completes $50 million financing
- BNB market cap surpasses Ping An Insurance, ranking 167th in global asset market cap
- U.S. SEC Salt Lake City office closes after losing lawsuit against DEBT Box crypto case
"What important events happened in the last 24 hours"
Upbit will launch TAIKO KRW, BTC, USDT trading pairs
According to the official announcement, Upbit will launch TAIKO KRW, BTC, USDT trading pairs, with deposits and withdrawals expected to open after June 5 at 22:00, and the trading start time will be announced later.
zkSync v24 version update has completed review, scheduled for deployment to mainnet on June 6
The zkSync v24 version update has completed its review and is planned for mainnet deployment on June 6. Reminder: The withdrawal and deposit functions of the native zkSync bridge will be disabled for 24 hours. Users can still use third-party bridges.
According to Hong Kong stock market data, as of the close, the trading volume of 6 Hong Kong virtual asset ETFs today is approximately 25.6928 million HKD, including: Huaxia Bitcoin ETF (3042.HK) with a trading volume of 13.56 million HKD; Huaxia Ethereum ETF (3046.HK) with a trading volume of 5.5 million HKD; Harvest Bitcoin ETF (3439.HK) with a trading volume of 2.57 million HKD; Harvest Ethereum ETF (3179.HK) with a trading volume of 1.97 million HKD; Bosera HashKey Bitcoin ETF (3008.HK) with a trading volume of 1.32 million HKD; Bosera HashKey Ethereum ETF (3009.HK) with a trading volume of 772,800 HKD.
According to Beincrypto, a consortium backed by Wall Street giants BlackRock and Citadel Securities is launching a new national securities exchange in Texas. The Texas Securities Exchange (TXSE) aims to challenge the regulatory environment of the New York Stock Exchange (NYSE) and Nasdaq.
Singapore fintech company Nium, which has crypto business, completes $50 million financing
According to CNBC, Singapore fintech startup Nium announced the completion of a new round of financing of $50 million and plans to go public within the next 18 months. This round of financing was led by an undisclosed Southeast Asian sovereign wealth fund and supported by venture capital firms BOND, NewView Capital, and Tribe Capital. The company's valuation is $1.4 billion, a 30% discount from the previous valuation.
BNB market cap surpasses Ping An Insurance, ranking 167th in global asset market cap
According to 8marketcap data, BNB's market cap reached $10.266 billion, surpassing Ping An Insurance (with a market cap of approximately $10.19 billion), ranking 167th in global asset market cap.
U.S. SEC Salt Lake City office closes after losing lawsuit against DEBT Box crypto case
According to CoinDesk, the Salt Lake City office of the U.S. Securities and Exchange Commission (SEC), which has been controversial due to its failed fraud lawsuit against DEBT Box in the cryptocurrency world, will close due to "significant staff losses." The SEC stated that the closure is based on budget and organizational efficiency considerations and will not close other regional offices. In the future, enforcement jurisdiction will be transferred to the SEC's Denver office.
Ukrainian police dismantle international crypto fraud gang, 14 arrested
Ukrainian authorities have dismantled a criminal gang that deceived citizens of Ukraine, Moldova, Kazakhstan, and the EU through a deceptive call center, promising profitable cryptocurrency investments.
Binance to delist ACE/BNB, DOT/TUSD, and other spot trading pairs
Binance announced that it will delist the following spot trading pairs on June 7, 2024, at 03:00 (UTC): ACE/BNB, DOT/TUSD, MAGIC/FDUSD, MEME/BNB, SAND/BNB, XAI/TUSD.
Hong Kong Securities and Futures Commission CEO Ashley Alder spoke at the Greenwich Economic Forum (Hong Kong), emphasizing the profound impact of technology, particularly distributed ledger technology (DLT), on financial markets. She pointed out that DLT has already shown significant results in areas such as virtual assets and trade finance, and may enable all financial activities on the blockchain in the future. The Hong Kong government and the SFC are actively promoting the development of DLT and Web3 ecosystems, including issuing digital government green bonds and tokenized investment products to enhance market efficiency and transparency.
"What are the exciting articles worth reading in the last 24 hours"
Bitwise Chief Investment Officer: Washington's shift is a once-in-a-lifetime Alpha for Crypto
Alpha, defined by Investopedia as "the ability of an investment strategy to beat the market." Alpha is rare because of intense market competition. To unlock Alpha, you need to know something that the market does not.
This is difficult. Hedge funds, institutions, and high-frequency trading firms have extensive experience and have invested billions of dollars; they are all opponents you need to overcome in your quest for Alpha. Good luck!
This is why index investing is so popular and why most active fund managers cannot beat the market. According to S&P data, nearly 90% of active fund managers have underperformed the market over the past 10 years.
I am a staunch believer in index investing. I help manage the world's largest cryptocurrency index fund and wrote the foreword for Eric Balchunas's book "The Bogle Effect," which is about Vanguard founder Jack Bogle, who is widely regarded as the "father of index investing."
But occasionally, I find that there is Alpha in the market, and nothing is more exciting than that. And now, it is such an exhilarating moment.
Exclusive Interview with Trusta Labs: The Chaos and Order of Airdrops
The largest witch hunt event initiated by LayerZero has officially concluded.
In the past month, from calling on witches to self-disclose to retain 15% of the airdrop share, to the official collaboration with data analysis agencies like Chaos Labs and Nansen for proactive screening, to incentivizing hunters to actively report through a 10% share reward, LayerZero's every move has kept the community's attention.
Especially in the final reporting phase, although this was not an original idea of LayerZero (previously Hop Protocol and others had similar designs), as one of the most highly anticipated potential airdrop projects in the market, the waves stirred by LayerZero far exceed those of its predecessors. Driven by interests, countless hunters submitted thousands of witch reports to LayerZero, forcing GitHub to temporarily suspend accounts to alleviate server pressure. Even after the activity was migrated to Commonwealth and a 0.5 ETH deposit requirement was added, hunters still submitted over 3,000 witch reports within a short three-day window.
From the results alone, LayerZero seems to have achieved its desired outcome in this community-driven activity—gaining a massive data sample to adjust airdrop details. However, community feedback indicates that the controversies and doubts surrounding this activity have never dissipated. Questions remain regarding the legitimacy of the reports submitted by hunters, whether professional institutions will become hunters themselves, whether LayerZero can balance efficiency and fairness as a judge, and whether the final witch list will be reused by later projects, as well as the far-reaching impact of this model on the airdrop paradigm.
As a Web3 startup from a former large company's anti-fraud team, Trusta Labs is committed to building Web3 identity and reputation infrastructure through AI. It has launched the industry's first Web3 user value assessment system MEDIA Score and wallet analysis tool TrustGo, which have been adopted by leading projects such as Celestia, Manta, and Starknet as on-chain analysis standards for screening airdrop users.
On May 31, according to monitoring data from a third-party blockchain security risk platform, DMM Bitcoin, a subsidiary of the Japanese super consortium DMM, experienced "unauthorized" massive Bitcoin outflows. Although no official investigation news has been released, on-chain data suggests that it is essentially a massive cryptocurrency theft case, and the methods used by the criminals are very novel. According to public sources, the amount involved in this case is approximately $300 million.
The Sa Jie team believes that this incident bears some resemblance to the Mt. Gox cryptocurrency platform theft case that occurred years ago in Japan (which remains unresolved to this day). Currently, DMM Bitcoin has restricted new user account openings, cryptocurrency withdrawals, and spot trading buy orders, and has publicly stated that the platform will bear all losses incurred from this incident. Clearly, for the large DMM, a loss of $300 million is still within an acceptable risk range, which should be a silver lining for investors.
Today, the Sa Jie team will elaborate on the latest hacking techniques for cryptocurrency assets and prevention methods based on this incident.
