Daily Report | BitMEX admits to violating the Bank Secrecy Act; Zhao Changpeng may be released soon; BlackRock may apply for SOL ETF in July; Binance seeks to sell most of GoPax operator shares to Megazone
July 11 News Overview整理：Fairy，ChainCatcher
Important News:
- Do Kwon's wife wins appeal against South Korean government's decision to seize her property
- Binance is seeking to sell most of its shares in GoPax operator to Megazone
- Market news: Zhao Changpeng may be released soon
- Terraform Labs is considering selling four of its businesses to complete liquidation
- Insider: BlackRock may apply for SOL ETF in July
- Bithumb will launch PolyMesh (POLYX) KRW trading pair
- BitMEX admits to violating the Bank Secrecy Act for failing to effectively implement anti-money laundering plans
- Golem Network: Launching an ecosystem fund of 40,000 ETH
What important events happened in the past 24 hours?
Do Kwon's wife wins appeal against South Korean government's decision to seize her property
According to the Korea Economic Daily, Do Kwon's wife has won all appeals against the South Korean government's decision to confiscate her real estate shares and sell her apartment rights. Terraform Labs is the company behind the bankrupt stablecoin TerraUSD and cryptocurrency Luna. The court ruled that the disputed assets were properties purchased in her name during her marriage to Kwon.
Binance is seeking to sell most of its shares in GoPax operator to Megazone
According to IT Chosun, Binance is in last-minute negotiations with Megazone, the parent company of Megazone Cloud, to sell its shares in the South Korean cryptocurrency exchange Gopax operator Streami, reducing its stake in Streami from 72.6% to 10%. Insiders say Binance is seeking to sell its shares to improve the governance structure required by financial authorities before renewing its real-name account contract with Jeonbuk Bank in August, and the deal is expected to be completed by the end of this month.
Binance acquired a 72.26% stake in Gopax in February last year. Later, in March of the same year, Binance reported a change in its largest shareholder, but South Korean financial authorities have not decided whether to accept Binance's statement in the past year and three months.
An official from Megazone explained, "We are discussing various forms of cooperation, including equity acquisition, subject to government approval, but there is no specific decision on future processes or timelines."
Data: German government addresses transferred a total of 2,375 BTC to CEX and other addresses
According to Arkham data, a wallet address marked as "German government" transferred a total of 2,375 BTC (approximately $138 million) to CEX and other addresses 8 minutes ago. This includes:
- Transferring 375 BTC to Coinbase;
- Transferring 375 BTC to Bitstamp;
- Transferring 375 BTC to Kraken;
- Transferring 1,000 BTC to a suspected B2C2 Group;
- Transferring 250 BTC to an unmarked address.
Market news: Zhao Changpeng may be released soon
According to market news, former Binance CEO Zhao Changpeng is expected to be released and return soon.
Reported on May 16, according to Protos, Zhao has not yet been imprisoned due to procedural issues in the criminal justice system and the Fifth Amendment's protection of due process. According to a ruling signed by the judge, Zhao "should surrender to serve his sentence after being notified by the probation or pretrial services office." In early May, Zhao was sentenced to four months in prison by the U.S. District Court in Seattle for violating U.S. anti-money laundering laws.
Tanzanian fintech startup Nala raises $40 million in Series A funding led by Acrew Capital
Tanzanian fintech startup Nala has raised $40 million in Series A funding to support its B2B payment platform called Rafiki. This oversubscribed round was led by San Francisco venture capital firm Acrew Capital, with participation from DST Global, Norrsken22, and HOF Capital.
Terraform Labs is considering selling four of its businesses to complete liquidation
Terraform Labs announced that it is actively selling its portfolio tracking platform Pulsar Finance, cryptocurrency wallet platform Station, no-code DAO management platform Enterprise, and its smart contract automation protocol Warp.
Terraform Labs stated that this sale is aimed at "maximizing value for creditors and other stakeholders" and is part of its "broader gradual shutdown of operations in accordance with the settlement terms reached with the U.S. Securities and Exchange Commission."
Insider: BlackRock may apply for SOL ETF in July
According to BITCOINLFG, insiders say that BlackRock may apply for a SOL ETF in July.
Bithumb will launch PolyMesh (POLYX) KRW trading pair
According to an official announcement, Bithumb will launch the PolyMesh (POLYX) KRW trading pair at 17:00 KST on July 11.
Bloomberg senior ETF analyst: Solana ETF may be approved by mid-March 2025 at the latest
Bloomberg senior ETF analyst Eric Balchunas explained on social media platform X that the final deadline for the Solana ETF appears to be mid-March 2025. However, the most important date from now until then is November. If Biden wins, these ETFs are likely to be eliminated. If Trump wins, anything is possible.
Upbit will launch Galxe (GAL) KRW trading pair
According to an official announcement, Upbit will launch the Galxe (GAL) KRW trading pair.
Powell: I haven't spoken to Biden in two years, and I haven't noticed any cognitive decline
According to Jin Ten Data, Federal Reserve Chairman Powell stated that he has not seen any signs of cognitive decline from President Biden during their phone calls or meetings. Powell said their last conversation was over two years ago.
Congressman Mike Lawler asked Powell if he had had any private meetings with Biden since their public meeting in May 2022. Powell replied, "I haven't met with him. He hasn't planned to meet with me, and of course, I haven't planned to meet with him either." Powell noted that the Federal Reserve is an independent agency, and Biden has always respected that.
Data: German government addresses may have sold $496 million in BTC in the past 16 hours
According to Spot On Chain monitoring, in the past 16 hours, German government addresses may have sold BTC worth up to $496 million, including:
- Transferring out 10,853 BTC (approximately $637 million) at an average price of about $58,659;
- Receiving 2,442 BTC (approximately $141 million) at an average price of about $57,560.
Currently, their address has only 15,552 BTC (approximately $894 million) left, which is about 31% of the original amount seized from the pirated movie site Movie2k in January.
Trump to speak at Bitcoin conference this month
According to official news, Trump will speak at the 2024 Bitcoin Conference held from July 25 to 27. The conference spokesperson stated that Trump will give a 30-minute speech at 2 PM on the last day of the conference.
BitMEX admits to violating the Bank Secrecy Act for failing to effectively implement anti-money laundering plans
According to an official statement from the U.S. Department of Justice, cryptocurrency trading platform and derivatives exchange BitMEX admitted on Wednesday to violating the Bank Secrecy Act, stating that BitMEX intentionally failed to establish, implement, and maintain adequate anti-money laundering plans. The law carries a maximum penalty of five years in prison and fines, and the case has been assigned to U.S. District Judge John G. Koeltl.
U.S. Attorney Damian Williams stated, "As BitMEX's founder and long-time employee admitted in federal court in 2022, the company operated in the U.S. without any meaningful anti-money laundering plan required by federal law. Therefore, BitMEX became a tool for large-scale money laundering and evasion of sanctions, posing a serious threat to the integrity of the financial system."
Golem Network: Launching an ecosystem fund of 40,000 ETH
Open-source computing platform Golem Network announced on social media that it is launching the Golem Ecosystem Fund, with the primary goal of accelerating the growth of the Golem network and its ecosystem by providing resources to developers, researchers, entrepreneurs, and innovators.
The ecosystem fund is sourced from 40,000 ETH from the Golem treasury, and contributors will receive 75% of the rewards from this prize pool, adjusted based on the performance of the plan.
"What are the exciting articles worth reading in the past 24 hours?"
Animoca founder writes: As MOCA launches, let's talk about the meaning of tokens again
We are often asked the question: What is the exact meaning of tokens? Why do projects need tokens?
Generally speaking, tokens are seen as a more efficient fundraising tool that allows equity holders to avoid dilution risks; on the other hand, tokens are also viewed as utility tools that can be used in games and other virtual environments, similar to virtual currencies.
However, the function of tokens is not limited to these scenarios; in fact, they can possess all of the above characteristics simultaneously. In our view, tokens represent a new way of owning a certain type of asset, for which there was no clear ownership structure before the emergence of tokens.
In summary, we see tokens as a new way of having partial network effects.
Famous KOL Ignas recounts: How did I become famous?
I never thought of becoming a KOL; the term "KOL" sounds a bit cliché.
People generally have negative feelings towards influencers and the entire influencer economy. I understand the reasons behind this; the crypto world is full of scammers who sell and dump on their fans, ultimately harming them.
But not all KOLs are scammers. Money is not my motivation for posting on Twitter; I initially posted simply because I was bored during the bear market of 2022.
Now, I'm bored again, so I asked on Twitter what to write next. The most popular idea was to share insights on becoming a KOL, how to grow an audience, and reveal some secrets about cryptocurrency KOLs and marketing. Since I already have 100,000 followers on Twitter, I thought it was a good opportunity to share some different content.
Can the $SEND around Solana Blink replicate the glory of $DEGEN?
Two weeks ago, Solana's Blink became popular.
We previously detailed in “Interpreting Solana Blink: On-chain operations embedded in social media, is the end of going viral all about socialization?” :
Blink allows on-chain functions to be embedded directly on Twitter, enabling various on-chain actions like swaps, mints, and donations with a single click on a tweet.
However, at that time, Blink only showcased its "what I can do" capabilities, leaving "how to do it" open for the community and developers to explore.
Therefore, it is even more necessary for us to pay attention to new projects that are working around Blink.
Time is of the essence; just a few days after Blink was released, an account named SEND (@thesendcoin) seemed fully prepared, showcasing over 50 use cases of what can be done using Blink with detailed, vivid, and authentic descriptions.
