Daily Report | Biden appoints Coinbase advisory board member as election advisor; Bybit recently undergoes a major executive overhaul; Bolivia lifts the ban on Bitcoin and crypto payments
June 28 News OverviewOrganizer: Fairy, ChainCatcher
Important News:
- Hong Kong Securities and Futures Commission: "Tokencan," "Hong Kong Wei Coin Crypto Assets," and others suspected of engaging in virtual asset-related fraud activities
- Kraken co-founder donates $1 million to Trump as an individual, mainly in ETH
- Bybit recently underwent a large-scale executive reshuffle
- Solona ecosystem meme coin Wen has acquired the largest cat-themed account on X
- Biden's campaign team hires a member of Coinbase's advisory board as a consultant for the 2024 election
- Bolivia lifts the ban on Bitcoin and crypto payments
- 21Shares submits new 8-A12B filing for Ethereum spot ETF
"What important events happened in the past 24 hours"
Hong Kong Securities and Futures Commission: "Tokencan," "Hong Kong Wei Coin Crypto Assets," and others suspected of engaging in virtual asset-related fraud activities
The Hong Kong Securities and Futures Commission today warned the public to be cautious of entities operating under the names "Tokencan," "Hong Kong Wei Coin Crypto Assets," and "HKD.com Corporation," which are suspected of engaging in virtual asset-related fraud activities and may be claiming to operate virtual asset trading platforms in Hong Kong without a license.
The Hong Kong Police Force has taken action to block the relevant websites and social media pages. The Securities and Futures Commission has also added "Tokencan," "Hong Kong Wei Coin Crypto Assets," and "HKD.com Corporation," along with their respective websites, to its warning list.
Kraken co-founder donates $1 million to Trump as an individual, mainly in ETH
Kraken co-founder Jesse Powell stated on his social media platform that he donated $1 million to Trump's campaign as an individual, primarily in ETH.
Powell noted that the crypto industry has long been under attack from figures like Elizabeth Warren and Gary Gensler. Despite bipartisan efforts in Congress to establish clear rules, the Biden administration has remained passive, allowing law enforcement to conduct unregulated oversight. As other major economies around the world implement clear regulatory frameworks for digital assets, this approach is undermining America's competitiveness.
In his tweet, Powell stated, "I am pleased to unite with other leaders in our community behind the only pro-crypto major party candidate in the 2024 presidential election so that America can continue to lead in blockchain technology."
Bybit recently underwent a large-scale executive reshuffle
According to exclusive information from Wu, Bybit has recently undergone a large-scale executive reshuffle, with changes in the heads of almost all business departments, including spot, derivatives, customer service, and VIP, for unknown reasons. The current management of Bybit includes CEO Ben and COO Helen, who is responsible for HR and other business departments.
Earlier, following the delayed transaction incident on Notcoin, Bybit's management faced a significant upheaval, with several executives "voluntarily resigning." The sudden launch of user registrations for Chinese users by Bybit also caused panic among some employees.
Helen responded to Wu, stating that the current changes in leadership are a routine arrangement for organizational development, and the company is still expanding into multiple regions, aiming to focus on stronger localization and provide the most relevant products for regional users.
Coinbase: The first presidential debate has concluded, and cryptocurrency was not mentioned
Coinbase stated on social media, "The first presidential debate has concluded, and cryptocurrency was not mentioned. 52 million Americans and 19% of Georgians own cryptocurrency, and it's time to ensure it becomes part of future discussions."
Coinbase denies customer data breach, Au10tix employee credential leak raises security concerns
According to Cointelegraph, Coinbase denied that its customer data suffered any breaches in response to the credential leak incident involving the compliance platform Au10tix. Au10tix stated that although the credentials were leaked, there is currently no evidence that the data has been misused.
Reports indicate that these credentials could allow hackers to access sensitive user information, such as names, birth dates, and driver's license images. Au10tix has removed the relevant credentials and strengthened security measures to prevent similar incidents from occurring again. Coinbase has not confirmed whether it uses Au10tix to store customer data but insists that no data breach has been discovered at this time.
Solona ecosystem meme coin Wen has acquired the largest cat-themed account on X
According to official news, Solona ecosystem meme coin Wen is now the owner of the largest cat account on X, @ShouldHaveCat. "With this account accumulating 2 to 3 billion views monthly, we are excited to curate a global brand that can communicate with cat lovers worldwide, not just in web 3."
Opinion: The US SEC clearly states that Solana is a security, ETF approval may need to wait for regulatory changes
According to The Block, investment management firm VanEck has applied to launch a Solana ETF that tracks the price of Solana's native token. Many analysts believe that after the US Securities and Exchange Commission (SEC) recently greenlit Ethereum-based ETFs, the market's application for a Solana ETF is inevitable, but few doubt it will succeed immediately.
Haseeb Qureshi, a partner at investment firm Dragonfly Capital, stated, "This is impossible to achieve; I suspect VanEck is building goodwill and laying the groundwork for future launches." "But the SEC has clearly stated that they consider SOL to be a security. This administration will not back down on this issue." James Seyffart, an ETF expert at Bloomberg Intelligence, also agreed, stating on X that the fund "only has a chance of launching sometime in 2025 if there is a new management team in the White House and SEC."
The biggest legal obstacle facing the SOL ETF is that the SEC's enforcement division has clearly stated that SOL is an unregistered security. Notably, this occurred a year ago when the agency sued Binance for having a market in Solana and 11 other cryptocurrencies. The SEC's opinion is based on the securities laws passed in the early 1930s and the Howey Test, which determines what constitutes a "security investment." Essentially, if a person invests money in a common enterprise and expects to profit from the efforts of others, the SEC can declare that asset a security.
Biden's campaign team hires a member of Coinbase's advisory board as a consultant for the 2024 election
Biden's campaign team has hired Keisha Lance Bottoms as a senior advisor for the 2024 election. Bottoms served as the mayor of Atlanta from 2018 to 2022 and joined Coinbase's advisory board in April 2024, after resigning from her advisory role in the White House in 2023.
Foreign media The Hill reported on June 27 that Bottoms will continue to stay with Coinbase during President Biden's campaign, which is expected to conclude with the US voter elections in November. The news outlet reported that the former mayor stated that cryptocurrency is a "non-political, unifying issue." It remains unclear whether Bottoms will provide advice to Biden's campaign team on cryptocurrency-related issues.
According to The Hill, Bottoms previously stated at the Stand With Crypto Atlanta event, "Cryptocurrency provides an opportunity to enhance financial freedom for communities that typically lack bank accounts and have insufficient banking access."
Data: The proportion of active addresses on the Bitcoin network drops to 1.22%, the lowest since 2010
Data from IntoTheBlock shows that the proportion of weekly active addresses on the Bitcoin network has dropped to a low of 1.22%, below the record set in November 2010. Additionally, the total number of active wallets has also reached a multi-year low, with 614,770 weekly active addresses recorded on May 27, the lowest since December 2018.
Bolivia lifts the ban on Bitcoin and crypto payments
Bolivia has lifted the ban on Bitcoin and crypto payments, officially legalizing them for financial entities.
21Shares submits new 8-A12B filing for Ethereum spot ETF
According to official news, 21Shares has submitted a new 8-A12B filing for its Ethereum spot ETF.
Decentralized cross-chain oracle AnchorZero completes $8 million seed round financing, led by Bain Capital and Spark Capital
According to official news, decentralized oracle network developer AnchorZero announced the completion of an $8 million seed round financing, led by Bain Capital Crypto and Spark Capital, with participation from Ethereal Ventures, Robot Ventures, Mischief Fund, Pascal Capital, and Sarah Meyohas. Specific valuation information has not been disclosed.
It is reported that AnchorZero is a blockchain technology company specializing in developing decentralized cross-chain oracle networks, providing secure and reliable price data services for smart contracts, allowing access to external data for smart contracts across multiple platforms. Additionally, they also offer Web3 tax planning solutions.
Greeks.live: Options worth over $10 billion will be delivered today, market volatility is high but mainstream coin IV has not significantly increased
Greeks.live macro researcher Adam stated on social media that 107,000 BTC options are expiring, with a Put Call Ratio of 0.5 and a maximum pain point of $57,000, with a nominal value of $6.6 billion. 1.04 million ETH options are expiring, with a Put Call Ratio of 0.59 and a maximum pain point of $3,100, with a nominal value of $3.6 billion.
Today is the quarterly delivery, with options worth over $10 billion nominal value being delivered. June has been a tough month for the crypto market, with BTC and ETH prices once approaching maximum pain points that investors deemed impossible to reach, leading to a pessimistic market atmosphere.
Despite the high market volatility, mainstream coin IV has not shown a significant increase, with BTC's major term IV below 50% and ETH's major term IV below 60%, both at low levels. Clear news regarding ETH ETF is expected in early next month, and after today's delivery is completed, IV will face strong downward pressure for several days. Buying some call options while IV is low will be a highly cost-effective choice.
"What are the exciting articles worth reading in the past 24 hours"
The Rise of OpenAI: Power Broker, Ultraman Builds Huge Influence Through Connections
Ultraman's growth journey shows that he has always understood the importance of being in the right place, seizing the right moment, and connecting with the right group of people. Understanding Ultraman's rise is crucial because by understanding his identity and beliefs, we may better answer an urgent question: Should we trust this person to oversee the development of this technology?
Starting with founding the location service Loopt at the age of 19, Ultraman has demonstrated a strong pursuit of power. With his unique charisma and determination, he has garnered support from numerous tech leaders, including Paul Graham, Peter Thiel, and Elon Musk. His ability to handle issues and build relationships has been praised, but it has also sparked some doubts and criticisms. Although he is committed to benefiting all of humanity through OpenAI's vision, his management style has often become a focal point of controversy.
What Makes the Luxurious Financing Lineup of the New L1 Project MegaETH Stand Out?
New blockchain MegaETH developer MegaLabs has completed a $20 million seed round financing, led by Dragonfly, with participation from Figment Capital, Robot Ventures, Big Brain Holdings, and angel investors including Ethereum co-founder Vitalik Buterin, ConsenSys founder Joseph Lubin, EigenLayer founder Sreeram Kannan, ETHGlobal co-founder Kartik Talwar, Helius Labs co-founder Mert Mumtaz, Santiago Santos, Hasu, and Jordan Fish (also known as Cobie). This round of financing adopts a structure of equity plus token warrants, giving MegaETH a fully diluted token valuation of at least $100 million.
With such a luxurious financing lineup and being in the fiercely competitive L1 track, what makes MegaETH different? Can it reshape the L1 landscape in the future? This article takes you for a glimpse.
After the US Presidential Election Debate: The Internet Mocks Biden, Is It Time to Buy Trump Memes?
On the evening of June 27, local time in the US, the well-known media CNN hosted the first face-to-face debate of the 2024 presidential campaign. In this presidential debate, President Joe Biden and former President Donald Trump engaged in a fierce confrontation in CNN's Atlanta studio. This 90-minute debate marked the first direct clash between the two heavyweight political figures in the new round of campaigning.
The debate was generally viewed by the US media as "a great disappointment." Rather than expressing political views, the debate often devolved into baseless accusations and discussions based on misinformation, with Biden noticeably lagging behind in momentum, often unable to respond to Trump's various accusations, giving the impression that Trump had the upper hand. After the debate, Trump's winning probability on the crypto prediction market Polymarket reached 65%, setting a new historical high; meanwhile, the meme coin related to Biden, BODEN, plummeted by 38.6% in 24 hours.
