Daily Report | Conduit completes $37 million financing; Binance UAE resident users will transition to Binance FZE; 50% of Blast token total supply will be airdropped to the community
June 26 News Overview整理：Fairy, ChainCatcher
Important News:
- Binance UAE resident users will transition to Binance FZE
- Conflux is collaborating with China Telecom to launch the world's first mobile SIM card with blockchain account management features
- A US judge has sentenced WikiLeaks founder Assange to prison
- Aevo updates tokenomics: stops trading reward activities, commits to repurchasing at least 1 million AEVO each month from July to December
- Digital asset trading company Crossover Markets completes $12 million Series A funding, led by Illuminate Financial and others
- Rollup deployment platform Conduit completes $37 million Series A funding, co-led by Paradigm and Haun Ventures
- Blast announces token economic model, with 50% of total supply to be airdropped to the community
- Bithumb will launch the BLAST KRW market today at 23:00
"What important events happened in the past 24 hours"
Binance UAE resident users will transition to Binance FZE
Binance announced that it has obtained a Virtual Asset Service Provider (VASP) license issued by the Dubai Virtual Assets Regulatory Authority (VARA), which applies to the local exchange Binance FZE located in Dubai. All UAE resident accounts will be transferred from the global Binance exchange to the VARA-regulated Binance FZE exchange.
UAE resident users will gradually receive emails requesting them to submit documents and update KYC information before the KYC deadline (December 15, 2024).
Conflux is collaborating with China Telecom to launch the world's first mobile SIM card with blockchain account management features
According to the People's Daily Overseas Edition, the public chain Conflux is currently collaborating with China Telecom to jointly launch the world's first mobile SIM card with blockchain account management features, aiming to lower the threshold for using blockchain technology.
In addition, Conflux is expanding financial services in countries along the "Belt and Road" through ecological enterprises, using Hong Kong as a window.
A US judge has sentenced WikiLeaks founder Assange to prison
According to BNO News, a US judge has sentenced WikiLeaks founder Assange to prison, ending years of legal battles.
Data: Address labeled "German government" transfers out 750 BTC again, worth about $46 million
According to PeckShield monitoring, an address labeled "German government" transferred out 750 BTC (worth about $46 million) 20 minutes ago, of which approximately $15.4 million worth of BTC was transferred to Bitstamp and Kraken.
Blockchain infrastructure company Covalent completes $5 million funding, led by RockTree Capital
Blockchain data infrastructure company Covalent has completed $5 million in funding, led by RockTree Capital, with other investors including CMCC Global, Moonrock Capital, and Double Peak Group.
Covalent develops infrastructure that allows users to access historical blockchain data in the "Ethereum Wayback Machine," similar to storing web pages online in the web2 version. The company stated that it will use this funding to expand into Asia and support long-term data availability in countries like China and Singapore.
It is reported that Covalent has raised over $20 million through token sales.
Aevo updates tokenomics: stops trading reward activities, commits to repurchasing at least 1 million AEVO each month from July to December
Aevo has updated its tokenomics, ending the four-month trading reward activities, which will not be continued. However, staking rewards will remain unchanged at 100,000 AEVO per week.
Additionally, for the remainder of this year, Aevo will use protocol revenue to repurchase AEVO tokens, empowering token holders. Given the current protocol revenue rate, Aevo commits to repurchasing at least 1 million AEVO each month from July to December.
Repurchases will be conducted on-chain weekly. The repurchased AEVO tokens will be returned to the main DAO treasury. Future adjustments to the token economy (such as burn or reward programs) will require another vote by token holders.
Digital asset trading company Crossover Markets completes $12 million Series A funding, led by Illuminate Financial and others
According to CoinDesk, digital asset trading company Crossover Markets has completed $12 million in Series A funding, led by Illuminate Financial and DRW Venture Capital, with participation from Flow Traders, Laser Digital, Two Sigma, Wintermute, and others.
Crossover Markets established a partnership with major broker Hidden Road last month. According to the company's CEO Brandon Mulvihill, it is one of the few ultra-low latency electronic communication networks (ECNs) in the cryptocurrency space.
US SEC Chairman: The approval process for spot Ethereum ETF is proceeding smoothly
US SEC Chairman Gary Gensler reiterated in a speech today that there are significant violations in the cryptocurrency space, while stating that the approval process for the Ethereum ETF is proceeding "smoothly," but he declined to comment on the timeline for the launch of a spot Ethereum ETF.
FTX restructuring plan sparks controversy, creditors set to vote
The FTX bankruptcy restructuring plan has sparked intense debate in the Delaware bankruptcy court. FTX lawyers and creditors discussed the disclosure statement at a hearing on Tuesday. The statement provides information to creditors to help them decide whether to accept the restructuring plan. FTX plans to pay at least 118% of claims to 98% of creditors, but some creditors want to be paid in cryptocurrency rather than cash.
Judge John Dorsey must approve the plan, after which creditors will vote, with a hearing scheduled for later this year. The next hearings are set for July 17 and August 15.
Binance US will suspend operations for Washington customers starting August 20
Binance.US announced on X that due to regulatory developments in Washington, the platform will suspend operations for Washington customers and close all accounts in the state on or after August 20, 2024.
Gary Gensler: Current securities laws apply to the crypto space, many industry entities are not complying with regulations
According to Bloomberg, US SEC Chairman Gary Gensler discussed the intersection of cryptocurrency and securities law, the political implications of crypto regulation, and his priorities at the SEC during an interview at the Bloomberg Investment Summit.
Gensler emphasized that there is no inconsistency between crypto securities and current securities laws. He pointed out that the rules governing securities are clear and can protect investors, ensuring fair, orderly, and efficient markets. Nevertheless, he believes that many entities in the cryptocurrency space do not comply with these laws. This non-compliance is a key issue that the SEC aims to address through its regulatory oversight.
Regarding the growing political significance of the cryptocurrency industry, Gensler stated that his primary responsibility is to protect investors and oversee issuers, ensuring access to fair, orderly, and efficient markets. He added that others can also participate in political discussions, but his duty is to maintain the integrity of capital markets.
Rollup deployment platform Conduit completes $37 million Series A funding, co-led by Paradigm and Haun Ventures
Rollup deployment platform Conduit announced the completion of $37 million in Series A funding, co-led by Paradigm and Haun Ventures, with participation from Bankless Ventures, Coinbase Ventures, and others. It is reported that since its launch, Conduit has helped teams like Degen and Proof of Play build their first L3.
According to Web3 crypto asset data platform RootData, Conduit completed a $7 million seed round of funding last March, led by Paradigm.
Brazilian exchange B3 plans to launch ETH futures contracts
According to Bitcoin.com, the Brazilian stock exchange B3 is considering expanding its local cryptocurrency trading options to offer ETH futures contracts.
It is reported that the exchange is a pioneer in providing cryptocurrency-related trading products in Latin America and will focus on institutional investors looking to diversify their traditional or cryptocurrency portfolios with more options.
Bithumb will launch the BLAST KRW market today at 23:00
Bithumb announced that it will launch the BLAST KRW market at 00:00 local time on June 27 in South Korea (23:00 Beijing time on June 26).
Arbitrum plans to allocate 35 million ARB to invest in RWA
The Arbitrum (STEP) committee proposed to invest 35 million ARB in RWA, as follows:
- Invest 11 million ARB in BlackRock's BUIDL through Securitize;
- Invest 6 million ARB each in Ondo USDY and Superstate USTB;
- Invest 4 million ARB each in Mountain USDM, OpenEden TBil, and Backed Finance blB01.
Blast announces token economic model, with 50% of total supply to be airdropped to the community
Blast announced its token economic model, with a total supply of 10 billion BLAST.
Token distribution:
- 50% will be airdropped to the community, with an initial airdrop volume of 1.7 billion.
- 25.5% allocated to core contributors, with a 4-year lock-up period, where 25% of the core contributors' airdrop tokens will unlock one year after the TGE, and then unlock monthly;
- 16.5% allocated to investors, with a 4-year lock-up period, where 25% of the investors' tokens will unlock one year after the TGE, and then linearly unlock monthly over the next 3 years;
- 8% allocated to the Blast Foundation as reserves for ecological development, with foundation allocations linearly unlocking over 4 years starting from the TGE.
"What are some interesting articles worth reading in the past 24 hours"
Counting the "sales king" Vitalik's promoted projects, behind which is a dark battle for Ethereum's "orthodoxy"
As one of the fastest areas for monetizing influence, for ordinary retail investors deep in the Web3 world, being able to timely follow the promotional tweets of various Alpha bloggers and KOLs has almost become an essential skill for tracking wealth codes.
So who is the most influential "sales king" in today's crypto world?
The following KOL promotional effect chart may not be rigorous, but placing Vitalik Buterin in a unique position is quite accurate— as the absolute decision-maker of the Ethereum ecosystem, Vitalik rarely directly "promotes," but every time he "clearly signals" or "subtly supports," it has a tremendous impact on the market.
The recent surge of ENS due to Vitalik's mention is a typical example. Therefore, this article aims to review the projects/technical directions that Vitalik has historically "promoted" and their current status, and attempt to summarize the reasons behind them and how they have influenced and shaped the Ethereum we see today.
Exploring Protocol Guild: 177 members, awarded over $100 million, a solid backing for Ethereum L1 development and maintenance
Projects like ether.fi and Taiko have made donations to Protocol Guild, and LayerZero has mandated airdrop users to donate, sparking widespread attention and discussion within the community, along with some confusion and questions.
As a solid backing for Ethereum L1 development and maintenance, Protocol Guild plays a crucial role in the ecosystem. So what are the membership requirements, donation situations, and donation release mechanisms behind this mysterious and powerful organization? This article will take you on a deep dive.
How does Cathie Wood view Crypto? ARK 2023/4 Big Ideas Disruptive Innovation Report
At the beginning of 2024, Wall Street's most shining tech stock investment manager "Wood Sister" Cathie Wood and her ARK team released the "Big Ideas 2024" report. This report aims to cover the global field of "disruptive innovation" and is highly valuable, serving as an important reference for global tech entrepreneurs and investors.
This article extracts content related to cryptocurrency and blockchain from the two research reports of 2023/4 to present a perspective on Crypto from the viewpoint of Wall Street funds.
Within this, one can see the transformations that public blockchains can bring to currency, finance, and the internet, the solutions provided by smart contracts/DeFi for the real world, and the value acceleration brought by the combination of digital wallets with crypto/blockchain payments.
