Daily Report | The German government transferred a total of 900 BTC from its wallet; Trump plans to speak at the Bitcoin 2024 conference; The Biden administration rehires its former cryptocurrency advisor
June 25 News Overview整理：Fairy, ChainCatcher
Important News:
- Data: Wallet address labeled "German government" transferred a total of 400 BTC to CEX today
- Data: Wallet address labeled "German government" transferred another 500 BTC 15 minutes ago
- Ethereum core developer: Ethereum Foundation's mailing list provider suspected of being hacked
- Data: Today's Fear and Greed Index is 30, marking the first return to fear since September 2023
- Insider: Trump plans to speak at the Bitcoin 2024 conference to be held in July
- Biden administration rehires former cryptocurrency advisor Carole House
"What important events happened in the past 24 hours"
Data: Wallet address labeled "German government" transferred a total of 400 BTC to CEX today
According to Arkham monitoring, at 15:38 Beijing time today, the wallet address labeled "German government" transferred 200 BTC each to Coinbase and Kraken.
Data: Wallet address labeled "German government" transferred another 500 BTC 15 minutes ago
According to Arkham data, at 17:06 Beijing time today, the wallet address labeled "German government" transferred another 500 BTC to a certain address, with a total value of approximately 30.42 million USD.
Federal Reserve Governor Bowman believes there will be no rate cuts in 2024
According to Jinshi News, Federal Reserve Governor Bowman stated: "I believe there will be no rate cuts in 2024, pushing the rate cut timeline to 2025."
Ethereum core developer: Ethereum Foundation's mailing list provider suspected of being hacked
Ethereum core developer Tim Beiko stated on social media that the mailing list provider "updates@ethereum.org" used by the Ethereum Foundation is suspected of being hacked.
Currently, they are contacting SendPulse to resolve the issue. Please do not click on any links in that email.
South Korean State Council passes the enforcement order of the "Virtual Asset User Protection Act," effective July 19
According to the Economic Pioneer, the South Korean State Council passed the enforcement order of the "Virtual Asset User Protection Act" today, which will take effect on July 19. The decree stipulates that virtual asset service providers (VASP) must use banks to secure user deposits.
Additionally, VASP has the right to stop users' cash deposits and virtual asset deposits and withdrawals based on reasonable grounds specified in the decree.
10X Research: BTC severely oversold, price may rebound after further decline
Cryptocurrency research firm 10X Research stated that Bitcoin is currently severely oversold; after some altcoins experienced fluctuations, KOLs suggested fans buy on dips, as the greed and fear index is close to its lowest level, which is usually associated with price lows.
There are many reasons for the Bitcoin sell-off: Mt. Gox's Bitcoin distribution (estimated value of 9 billion USD starting in July), the German government's sale of confiscated Bitcoin (3 billion USD), Bitcoin miners selling 2-3 billion USD, ETF sales of 1.4 billion USD, and Bitcoin OG wallets selling 1.2 billion USD, among others. Assuming a total of 16-18 billion USD—similar to the Bitcoin ETF inflows this year.
Previously, internal trading signals provided multiple sell signals for Bitcoin. Although many claim that the recent decline is due to Mt. Gox's FUD (and other factors mentioned above), some structural factors may lead to a deeper decline before a potential rebound from lower levels.
Data: Bitcoin spot ETF had a total net outflow of 174 million USD yesterday, continuing a 7-day net outflow
According to SoSoValue data, yesterday (June 24, Eastern Time) the Bitcoin spot ETF had a total net outflow of 174 million USD. Yesterday, Grayscale's ETF GBTC had a single-day net outflow of 90.4295 million USD, with a historical net outflow of 18.45 billion USD for GBTC.
As of the time of writing, the total net asset value of Bitcoin spot ETFs is 51.53 billion USD, with an ETF net asset ratio (market cap compared to total Bitcoin market cap) of 4.39%, and historical cumulative net inflows reaching 14.387 billion USD.
Data: Today's Fear and Greed Index is 30, marking the first return to fear since September 2023
Today's Fear and Greed Index is 30, marking the first return to fear sentiment in the market since September 2023.
Note: The fear index threshold is 0-100, including indicators: volatility (25%) + market trading volume (25%) + social media heat (15%) + market surveys (15%) + Bitcoin's proportion in the overall market (10%) + Google Trends analysis (10%).
WikiLeaks founder Assange has left the UK and will eventually return to Australia
WikiLeaks stated on social media that on June 24, local time, WikiLeaks founder Julian Assange left London's Belmarsh Prison, where he had spent 1901 days. He was granted bail by the High Court in London and was released at Stansted Airport in the afternoon, where he boarded a plane leaving the UK.
Insider: Trump plans to speak at the Bitcoin 2024 conference to be held in July
According to tech media Axios, citing two insiders, former U.S. President Trump is discussing plans to speak at the Bitcoin 2024 conference to be held in Nashville at the end of July. The Bitcoin 2024 conference will be hosted by Bitcoin Magazine, scheduled for July 25-27.
Trump is not the only presidential candidate planning to speak at the conference. U.S. presidential candidate Robert F. Kennedy Jr. also plans to speak there. Representatives from Bitcoin Magazine did not respond to requests for comments.
Biden administration rehires former cryptocurrency advisor Carole House
According to DL News, the Biden team announced that Carole House, a key official who advised and co-wrote President Biden's 2022 executive order on cryptocurrency and digital assets, has returned to the government. House will serve as a special advisor to the White House National Security Council, focusing on "critical infrastructure policy" and cybersecurity. Carole House stated: "I am honored to serve again in shaping the future of a secure and trustworthy digital economy."
"What are the must-read articles from the past 24 hours"
1kx: What are the bottlenecks and breakthroughs for prediction markets like Polymarket?
Augur, as the first on-chain prediction market, was one of the earliest applications launched on Ethereum. Its vision is to allow anyone to bet any amount on anything. However, due to numerous issues, Augur's vision was not realized years ago. A lack of users, poor settlement user experience, and high gas fees led to the product being shut down. However, since then, we have made significant progress: block space is cheaper, and order book design is more efficient. Recent innovations have solidified the permissionless and open-source characteristics of cryptocurrency, allowing anyone to participate in the global liquidity layer by providing liquidity, creating markets, or betting.
Polymarket has become the market leader, with a trading volume of approximately 900 million USD to date, while SX Bet has accumulated 475 million USD so far. Nevertheless, there is still significant room for growth compared to the massive scale of traditional sports betting, which is a subcategory of prediction markets. In the U.S. alone, sports bookmakers handled over 119 billion USD in transaction volume in 2023. Considering the offline and online sports betting volumes in all other countries, as well as other types of prediction markets such as politics and entertainment, this figure becomes even more striking.
MEME coin WATER raised 41 million USD in 5 minutes: Same operator as BEER, "German Prince" teams up with Gotbit for another harvest?
Although the market has recently performed poorly, some are still making a fortune with MEME coins.
On June 21, a MEME coin named WATER Coin raised over 41 million USD during its presale phase. The project raised 200,000 SOL within a minute of starting the presale and 300,000 SOL within five minutes, valued at approximately 41 million USD, making it the largest MEME coin presale case to date, with over 26,000 wallet addresses participating in this presale. On June 24, the WATER token went live on Solana, with its market cap briefly exceeding 1 billion USD. Completing such a funding amount for a newly launched project without clear backing is dramatic. PANews conducted an in-depth analysis of this project and found that the popularity of this WATER token is not coincidental.
Ten questions and answers to dispel the rumors surrounding the Mt. Gox incident
On June 24, Beijing time, a rapid report about "Mt. Gox will start BTC and BCH repayments" triggered the market, and due to concerns about potential selling pressure, the already weak cryptocurrency market further declined, with BTC briefly falling below 60,000 USD and ETH also nearing 3,200 USD.
However, there remains considerable confusion and even rumors about the Mt. Gox repayment event itself, to the extent that most readers are still unaware of the full scope of the event and cannot proactively assess its potential impact on the market. To clarify these uncertainties, Odaily Planet Daily will combine market data and an interview with a creditor (dForce founder Mindao) to clarify this information in a Q&A format.
