Daily Report | ELabs accuses the Aethir project of unilaterally modifying the lock-up rules and deceiving node users; Vitalik's EIP-7732 proposal aims to improve Ethereum's operating speed; the families of two Chinese nationals kidnapped and killed in the Philippines were once demanded a ransom of 15 million yuan in USDT
July 4th News SummaryOrganizer: Luan Peng ChainCatcher
Important News:
- ELabs accuses Aethir project of unilaterally changing lock-up rules, deceiving node users
- Data: The trading volume of 6 Hong Kong virtual asset ETFs today is approximately 94.85 million HKD
- Vitalik's EIP-7732 proposal aims to improve Ethereum's operating speed
- Nigeria plans to establish AI and blockchain research centers nationwide
- Report: Mt.Gox bankruptcy redemption has a greater impact on BCH, with BCH selling pressure expected to be four times that of BTC
- The families of two Chinese nationals kidnapped and killed in the Philippines were demanded a ransom of 15 million USDT
- A suspected account of Fan Bingbing on X has deleted related tweets about the "personal comic IP project"
- Data: NVIDIA CEO Jensen Huang sold approximately 169 million USD of company stock in June, the largest monthly sell-off
"What important events happened in the past 24 hours"
ELabs accuses Aethir project of unilaterally changing lock-up rules, deceiving node users
The Asia-Pacific growth accelerator ELabs issued an apology statement regarding the Aethir project on the X platform, expressing its deep understanding that Aethir has significant funding and a strong background. After a month of private communication without results, they publicly demanded Aethir to provide more rights to users. The key points of the statement are as follows:
Before investment, it was promised to break even in 4 months, but after investment, the rules changed to 4 years. Can Aethir really survive for 4 years?
Doubts: OKX launched new coin ATH, why is it not on the new coin list?
- Issuing coins, selling nodes, selling physical mining machines, unilaterally changing rules, resulting in total losses for investment users (9 million USD) + nodes (94.5 million USD) + mining machines (6 million USD) + issuing coins + Web2 income.
- Deceiving node users, arbitrarily changing token rules. We deeply regret that we failed to let our trusting investors gain profits; this is the most painful part for us.
- Playing word games, the amount for airdrop shares became very small at the official launch. As a cooperative institution, we did not charge any marketing fees, but instead lost 500,000 yuan purchasing nodes.
- Fighting for user rights, facing threats. When discussing compensation plans, we suggested airdrop compensation for Chinese node users and rewards for participating promoters, but Aethir threatened to smear us on their official Twitter.
Regarding the results of the ATH airdrop:
The airdrop ratio distribution strategy and market performance disappointed node holders, causing node users to suffer greatly.
Before TGE, we were unaware of the changes in the airdrop ratio. After TGE, node users need four years to break even.
Simple task interactions could yield airdrops, but node users received 0; after negotiation, they were given 30 USD.
Aethir believes we are being unreasonable, and some promoters accuse us of colluding with the project party to exploit investors.
Data: The trading volume of 6 Hong Kong virtual asset ETFs today is approximately 94.85 million HKD
Hong Kong stock market data shows that by the close, the trading volume of 6 Hong Kong virtual asset ETFs today was approximately 94.85 million HKD, including: Huaxia Bitcoin ETF (3042.HK) with a trading volume of 65.2633 million HKD; Huaxia Ethereum ETF (3046.HK) with a trading volume of 4.6 million HKD; Harvest Bitcoin ETF (3439.HK) with a trading volume of 10.1554 million HKD; Harvest Ethereum ETF (3179.HK) with a trading volume of 5.3444 million HKD; Bosera HashKey Bitcoin ETF (3008.HK) with a trading volume of 4.091 million HKD; Bosera HashKey Ethereum ETF (3009.HK) with a trading volume of 5.3977 million HKD.
Vitalik's EIP-7732 proposal aims to improve Ethereum's operating speed
Ethereum developers have introduced a new Ethereum Improvement Proposal (EIP) EIP-7732, aimed at fundamentally reforming the block validation process and accelerating the speed of the blockchain.
The proposal makes significant changes to block validation by dividing the process into consensus and execution, thereby enhancing the security and performance of the blockchain.
EIP-7732 responds to the growing efficiency demands of the Ethereum blockchain and follows Ethereum co-founder Vitalik Buterin's push for faster transaction confirmation times. A core element of EIP-7732 is its established proposer-builder separation (EPBS), which separates the process of block creation into consensus proposers and execution proposers.
Nigeria plans to establish AI and blockchain research centers nationwide
According to Cointelegraph, the Nigerian government, through the National Information Technology Development Agency (NITDA), has announced plans to establish research centers in six geopolitical regions of the country, focusing on key areas including IoT, blockchain technology, drones (UAV), additive manufacturing, artificial intelligence, and robotics.
In addition to funding research, NITDA also aims to support Nigerian startups in developing products using these emerging technologies. The agency plans to create innovation sandboxes to help startups develop use cases, build businesses, and bring products to market.
According to CoinDesk, Presto Labs research director Peter Chung wrote in a report that concerns about selling pressure from Mt.Gox bankruptcy redemption leading to a drop in Bitcoin prices are unfounded, but it could be a bearish situation for Bitcoin Cash (BCH).
The report states: "Our analysis shows that BCH's selling pressure will be four times that of BTC: 24% of BCH's daily trading volume vs. 6% of BTC's daily trading volume." He noted that BCH's daily trading volume is one-fiftieth of BTC's.
In an interview, Chung stated that BTC selling is expected to be limited, as anyone wanting to exit can sell their claims on the bankruptcy claims market. Over the past decade, due to aggressive bidding from the claims fund, vulnerable creditors have had many opportunities to exit, so it can be safely assumed that the current creditor group consists of strong bullish holders of BTC. Traders will view BCH as an "airdrop" and sell immediately, as BCH's fork occurred three years after Mt. Gox's bankruptcy. Unless there is a funding rate risk, pairing long BTC perpetual contracts with short BCH perpetual contracts is the most effective market-neutral way to express this view; those wishing to lock in funding rates can explore other methods, such as shorting short-term futures or borrowing BCH in the spot market.
According to The Paper, recently, two Chinese nationals were kidnapped and killed in the Philippines, with police from three countries intervening in the investigation. The families are still waiting for autopsy results and updates on the investigation. The media learned from multiple sources that the victims were engaged in the medical device industry, belonging to different companies. One was a Chinese citizen, and the other was a Chinese American, who were kidnapped after arriving in the Philippines and were found dead on June 24.
The family of the Chinese American, Ms. Yang, stated that the kidnappers demanded her to raise 15 million yuan and convert it into USDT virtual currency to be sent to a designated account. Her family did not pay the ransom, while the family of Mr. Xia also received a similar ransom demand and paid 3 million yuan.
Upon review, a suspected X account of the famous actress Fan Bingbing has deleted related tweets about the "personal comic IP project."
Previous news reported that the suspected Fan Bingbing X account announced the launch of a personal comic IP project in collaboration with several individuals from the cryptocurrency circle.
According to financial news reports, NVIDIA CEO Jensen Huang sold approximately 169 million USD of company stock in June, marking the largest monthly sell-off.
Russia considers permanently legalizing stablecoins for cross-border payments
According to reports from Izvestia on July 3, citing the Central Bank of Russia, the Russian government is considering formally legalizing stablecoins for international transactions to simplify cross-border payments for Russian companies.
According to the report, the Central Bank of the Russian Federation (CBR) is actively discussing proposals to allow the use of these crypto assets, which are pegged to stable currencies or assets like the US dollar or gold, making them less volatile than other cryptocurrencies.
CBR Deputy Chairman Alexey Guznov confirmed this initiative and emphasized that the main focus is on regulating the entire transaction chain, from transferring these assets to Russia to accumulating and utilizing them for cross-border payments. Guznov stated that this could be established as a permanent regulation rather than a temporary experiment. Although stablecoins share similarities with digital financial assets (DFA) and cryptocurrencies, fine-tuning the regulatory framework is crucial due to their unique characteristics and widespread adoption.
According to the report, stablecoins are considered a promising tool for international settlements, especially for transactions with BRICS countries (including Brazil, Russia, India, China, and South Africa).
South African regulators investigate 30 cases of unlicensed cryptocurrency operations
The Financial Sector Conduct Authority (FSCA) of South Africa has established a task force to investigate individuals or entities operating cryptocurrency financial services without proper licenses. Currently, there are 30 cases under review.
The FSCA aims to protect the public and maintain fairness in the industry by taking decisive action against illegal cryptocurrency businesses. The regulator will also publish its investigation results and issue warnings if unregistered crypto businesses are found. Before classifying crypto assets as financial products on October 19, 2022, the FSCA provided a grace period until November 30, 2023, for license applications.
"What are the must-read articles in the past 24 hours"
At recent online and offline Chinese conferences about TON, a familiar figure, Vivi, the head of research at the TON Foundation, was often seen. She skillfully resolved various issues encountered by users and developers on TON, earning her the title of "the human database of the TON ecosystem" from community users.
With a technical background and having served at a leading public chain, Vivi stated in an interview with ChainCatcher that she joined TON a year ago when it was still largely overlooked, and there was not a complete Chinese developer document available online. She personally wrote multiple developer documents.
In her more than a year at TON, Vivi has transitioned from behind the scenes to the forefront of her career and witnessed the TON ecosystem's transformation from obscurity to vibrant activity.
After in-depth one-on-one interactions with thousands of developers, Vivi proposed a differentiated product principle for entrepreneurs wanting to build projects on TON: "What I have that others don't, what others have that I do better, what others do better that I do cheaper, and what I do cheaper that I can outperform."
Recently, ChainCatcher spoke with Vivi about the TON Foundation's ecological strategy, the relationship between TG and TON, and how developers can build popular applications.
Blinks Fantasies: Exploring the Most Promising Application Scenarios from the Ground Up
Last week, Solana, in collaboration with Dialect, launched a new feature called Blinks. Some view it as a revolutionary new growth avenue for Solana, while others believe the drawbacks outweigh the benefits, leading to more fraud incidents. The actual usage of this new feature, how it integrates with the X platform and other scenarios to realize its true utility, is still under discussion. Odaily will explore the true application scenarios of Blinks in this article.
The minutes from the Federal Reserve's FOMC meeting on June 11-12 indicate that policymakers are united on the issue of price stability, but they have not reached a consensus on how many months of good inflation data are needed to begin cutting rates. Some officials believe in maintaining patience before taking action, while others indicate that rate hikes are still under discussion.
Data from BitPush shows that Bitcoin fell below the support level of 62,000 USD early Wednesday morning, hitting a low of 59,515 USD, before bullish forces pushed it back above 60,000 USD. However, bearish pressure continues, and as of the time of publication, BTC is trading at 59,691 USD, with a 24-hour decline of over 3.5%.
Financial Times: Fed officials want "greater confidence" in cooling US inflation
Federal Reserve officials believe that US inflation is cooling, but they still need "greater confidence" before agreeing to lower rates from the 23-year high.
RWA Ten Thousand Word Research Report: The First Wave of Tokenization Has Arrived
This article attempts to examine the potential benefits and long-standing challenges that tokenization can bring from the perspective of traditional finance, using McKinsey & Co's analysis framework on tokenization, while combining real-world cases to conclude that despite the challenges still existing, the first wave of tokenization has indeed arrived.
