Daily Report | The Republican Party in the U.S. supports multiple cryptocurrency-friendly policies in its party platform; the German government sold 6,306.9 BTC today; five Ethereum spot ETF issuers have submitted S-1 filing updates
July 9 News OverviewOrganizer: Fairy, ChainCatcher
Important News:
- Vitalik urges industry participants to launch ERC-3770 and ERC-7683
- Upbit launches ENS KRW trading pair
- Data: German government sells 6306.9 BTC today, worth $360 million
- US Republican Party supports several cryptocurrency-friendly policies in 2024 platform
- Cboe has submitted 19b-4 form for VanEck and 21Shares' Solana ETF to the SEC
- Bithumb will launch BRETT and TAIKO KRW trading pairs
- 21Shares, BlackRock, and four other Ethereum spot ETF issuers have submitted S-1 file updates
What important events happened in the past 24 hours?
Upbit launches ENS KRW trading pair
Upbit announced that it will launch the ENS KRW trading pair, expected to start trading on July 9 at 18:30 (local time).
Vitalik urges industry participants to launch ERC-3770 and ERC-7683
Vitalik Buterin showcased the current interface for depositing into Polymarket on X and called for the industry to work together to launch ERC-3770 and ERC-7683.
Data: German government sells 6306.9 BTC today, worth $360 million
According to Arkham monitoring, in the past 3 hours, the German government has sent 6306.9 BTC (worth $362.12 million) to Kraken, Cumberland, 139Po (possibly institutional deposits/OTC services), and address bc1qu. Among them, 3206.9 BTC (worth $184.58 million) was sent in the last 20 minutes.
Since yesterday's trend, the German government has reclaimed 5366 BTC from exchanges like Kraken, Bitstamp, and Coinbase. The German government currently holds 22,847 BTC (worth $1.32 billion).
Solana shared sequencer Rome completes $9 million funding, Hack VC participates
Solana shared sequencer Rome has completed $9 million in funding, with participation from Hack VC, Polygon Ventures, HashKey, Portal Ventures, Bankless Ventures, Robot VC, LBank, Anagram, TRGC, Perridon Ventures, and notable angel investors including Anatoly Yakovenko, Nick White, Santiago Santos, Comfy Capital, Austin Federa, and Jason Yanowitz.
Rome was founded by Anil Kumar and Sattvik Kansal, aiming to establish Solana as a foundational network for shared sequencing and data availability (DA).
According to RootData, Rome Protocol is building a shared sequencer network utilizing Solana. The throughput of Solana allows Rome to provide high-performance shared sorting. Rollups do not need to worry about outsourcing their block production affecting user experience.
Paxful co-founder pleads guilty to failing to effectively implement anti-money laundering program, faces up to five years in prison and $5 million fine
Paxful co-founder and former CTO Artur Schaback pleaded guilty on Monday to failing to maintain an effective anti-money laundering (AML) program at the cryptocurrency exchange, and thus faces up to five years in prison.
On July 8, the U.S. Department of Justice stated that Schaback is scheduled to be sentenced on November 4, and he will resign from the Paxful board.
A plea agreement submitted the same day in California federal court shows that government prosecutors agreed to impose a $5 million fine on Schaback, which he will repay in three installments: $1 million on the day of the plea, $3 million on the day of sentencing, and the final $1 million within the next two years.
Singapore High Court rules Multichain Foundation to compensate Fantom approximately $2.19 million
The Singapore High Court ruled that Multichain Foundation must compensate Fantom Foundation $2,187,870.55.
Previously, Multichain was found in default on January 30, and a damages hearing was held on June 3. The Fantom Foundation hoped to prompt Multichain to liquidate through litigation, with a court-appointed liquidator to help recover and distribute assets. Attorney Nicolas Tang stated that this ruling is a significant victory for clients and the crypto community, reinforcing the legal status of digital assets.
US Republican Party supports several cryptocurrency-friendly policies in 2024 platform
According to The Block, the Republican National Committee has expressed support for several cryptocurrency-friendly policies in its official platform for the 2024 U.S. elections.
According to official documents released by Republican presidential candidate Trump's campaign team on Monday, the party platform vows to end the "illegal and un-American crackdown" on the U.S. crypto industry. In addition to opposing the creation of a CBDC, the platform also promises to "defend the right to Bitcoin mining" and allow cryptocurrency holders to self-custody their tokens. The document states, "We will defend the right to trade without government oversight and control."
Bithumb will launch BRETT and TAIKO KRW trading pairs
According to an official announcement, Bithumb will launch BRETT and TAIKO KRW trading pairs, with trading opening on July 9 at 18:00 KST.
Core Scientific plans to convert $260 million in debt into 45 million shares of common stock
According to official news, Bitcoin miner Core Scientific announced it will forcibly convert its outstanding secured convertible notes on July 10. After the forced conversion, approximately 45 million shares of common stock will be issued in exchange for $260 million of convertible debt, thereby removing $260 million in debt from the company's balance sheet.
Bloomberg ETF analyst: Final deadline for Solana ETF approval is mid-March next year
Bloomberg ETF analyst Eric Balchunas stated on social media that the final deadline for the Solana ETF is mid-March 2025. "But the most important date in the meantime is November. If Biden wins, these ETFs are likely to be denied. If Trump wins, anything is possible."
21Shares, BlackRock, and four other Ethereum spot ETF issuers have submitted S-1 file updates
According to The Block, following VanEck's submission of a revised S-1 registration statement, 21Shares, BlackRock, Fidelity, Franklin Templeton, and Grayscale also submitted amended S-1 registration statements before the deadline.
VanEck stated it will waive fees for its spot Ethereum ETF from the start, while Franklin Templeton set its fee at 0.19%. Some issuers like BlackRock have not yet set fees.
Cboe has submitted 19b-4 form for VanEck and 21Shares' Solana ETF to the SEC
According to relevant documents, Cboe has submitted a 19b-4 form to the SEC for the listing of VanEck and 21Shares' Solana ETF.
Nate Geraci, president of The ETF Store, commented that Cboe has submitted the 19b-4 documents on behalf of VanEck and 21Shares for the Solana ETF, and once the SEC confirms these documents, the decision clock will start "ticking."
Grayscale: ETHE will allocate 10% of its ETH holdings to the ETH mini trust, record date is July 18
According to GlobeNewswire, Grayscale announced that July 18, 2024, will be set as the record date for the initial creation and allocation of Grayscale Ethereum Mini Trust (ETH mini trust) shares to Grayscale Ethereum Trust (ETHE) shareholders. Grayscale plans to list the ETH mini trust on the NYSE Arca under the ticker symbol "ETH" after obtaining regulatory approval.
Additionally, in the initial allocation, ETHE will contribute 10% of its Ethereum holdings as of 4:00 PM Eastern Time on the record date to the ETH mini trust, and each holder of ETHE shares as of 4:00 PM Eastern Time on the record date will be entitled to receive ETH mini trust shares on a 1:1 basis.
DigitalX plans to list Bitcoin ETF on the Australian Securities Exchange on July 12
According to Bloomberg, Australian cryptocurrency fund DigitalX announced it will list a Bitcoin ETF on the Australian Securities Exchange on July 12, under the ticker BTXX.
It is reported that this ETF was established in collaboration with K2 Asset Management and 3iQ.
Grayscale submits S-1 amendment for its mini Ethereum spot ETF
Bloomberg ETF analyst Eric Balchunas stated on social media that Grayscale has submitted an S-1 amendment for its mini Ethereum spot ETF to the SEC.
"What are the exciting articles worth reading in the past 24 hours?"
With the Labour Party in power, how will UK crypto policy change?
On July 4, the UK election concluded, with the Labour Party winning a decisive victory in the House of Commons, securing 412 seats, and leader Keir Starmer taking residence at 10 Downing Street. This is the most one-sided electoral victory in Labour's history, ending 14 years of Conservative rule. This historic election result undoubtedly brings significant changes to the UK political landscape and leaves many questions for domestic and foreign observers.
Former Prime Minister Rishi Sunak had called for cryptocurrency to be part of his policy and promised that the UK would embrace crypto technology, aiming to make the UK a "global cryptocurrency hub." Will the new government continue the existing policies and promote innovation and growth in the crypto industry?
Currently, the Labour Party remains tight-lipped about how Starmer's government will handle the regulation and growth of the industry, leaving the future of cryptocurrencies, blockchain, and related verticals filled with uncertainty.
Ten Questions and Answers: How will the impact of the "crash culprit" German government selling off evolve?
16,038.7 BTC, with a total value exceeding $900 million, is the amount of BTC the German government transferred to exchanges and market-making institutions (some of which have been reclaimed) in just one day.
Since starting to sell BTC on June 19, the German government has been continuously "dumping" for about 20 days, with yesterday marking the peak of daily sales, exceeding the total amount sold in the previous 20 days, forcibly interrupting the market's rebound momentum.
As one of the two most apparent bearish factors in the current market (the other being Mt. Gox starting coin-based repayments), many readers are not fully aware of the ins and outs of the German government's "dumping," making it difficult to accurately assess the potential impact of this event on the market. To clarify these doubts, Odaily Planet Daily will combine market data and on-chain data to clarify this information in a Q&A format.
Transformation: Why are Argentinians embracing cryptocurrency?
In recent years, Argentina has been labeled with inflation, much like their world-famous barbecue beef. Over the past 12 months, the country has accumulated an inflation rate of 276%. In fact, a typical manifestation of Argentina's soaring inflation is that residents' dietary habits are changing, with a decline in demand for beef and a shift towards cheaper protein sources like pork and chicken. Some observers predict that beef prices in Argentina will rise by 600% this year, and steak is no longer a staple food for Argentinians.
