This Week's News Preview | The court will rule on the founder of Bitcoin Fog; Trump will announce his vice presidential pick; the U.S. SEC may hold a closed-door meeting regarding the Ripple lawsuit

Organizer: Fairy, ChainCatcher

Key News:

• A U.S. court will rule on July 15 regarding Bitcoin Fog founder Roman Sterlingov
• Sources: The U.S. SEC will hold a closed-door meeting next Thursday, possibly regarding the Ripple lawsuit
• Grayscale: ETHE will allocate 10% of its ETH holdings to the ETH mini trust, with a record date of July 18
• Trump will announce his vice presidential pick next week, with crypto-friendly Senator JD Vance likely to be selected
• The South Korean "Prosecutor's Case Filing Scope Regulation Partial Amendment Bill" will take effect on July 19
• Musk donates to a super PAC supporting Trump, which must disclose donor names by July 15
• The Central Bank of Nigeria accuses Binance of operating without a license in the country, with the next court hearing on July 16

July 15 (Monday)

Musk donates to a super PAC supporting Trump, which must disclose donor names by July 15

According to Bloomberg, Elon Musk has donated to a super PAC supporting Trump.

Insiders revealed that Musk donated to a low-profile organization called America PAC. The specific amount is unclear, but insiders described it as substantial. The PAC is required to disclose its donor list on July 15. Prior to this, Trump has already surpassed his competitor Biden in fundraising.

Musk has not publicly supported any candidate for the 2024 election. Earlier this year, he stated that he likely would not fund either Trump or Biden's campaigns. However, his latest donation decision creates an opportunity for him to become a significant donor for the Republican Party.

Upbit: Will support SEI network upgrade on July 15

The South Korean cryptocurrency exchange Upbit announced that due to the SEI network upgrade, deposits and withdrawals will be suspended on July 15 at 6 PM local time.

SEI deposit and withdrawal support will resume once stability is confirmed. During the suspension, processing of deposits and withdrawals may be delayed, but trading support will not be affected.

MicroStrategy will redeem $650 million of convertible notes maturing in 2025

According to an official announcement, MicroStrategy today announced that it has sent a full redemption notice to the trustee of its 0.750% convertible senior notes (CUSIP No: 594972 AC5) maturing in 2025.

The total principal amount of the redeemed notes is $650 million, which is equal to the total principal amount currently held by investors.

The notice requests the redemption of all outstanding notes on July 15, 2024 (the redemption date), with the redemption price equal to 100% of the principal amount of the notes to be redeemed, plus any interest accrued but unpaid as of the redemption date (if any), unless converted early.

Gevulot will launch the mainnet validator network Firestarter on July 15

According to GlobeNewswire, the zero-knowledge proof-focused blockchain Gevulot will launch its mainnet validator network Firestarter on July 15. The Gevulot Devnet is currently a free public test network for registered users, encouraging participation from the Galxe community.

Additionally, Gevulot's roadmap includes the release of an incentive computing network in Q3 2024, and the anticipated launch of the ZkCloud mainnet in Q1 2025. ZkCloud is a decentralized computing network optimized for offloading arbitrary provable computations to address current proof infrastructure issues and accelerate the adoption of zero-knowledge proofs.

According to the Web3 asset data platform RootData, the zero-knowledge proof blockchain Gevulot announced the completion of a $6 million seed round financing in January this year, led by Variant.

A U.S. court will rule on July 15 regarding Bitcoin Fog founder Roman Sterlingov

According to Bloomberg, the founder of the cryptocurrency mixing service Bitcoin Fog has been convicted in Washington federal court for laundering tens of millions of dollars for a dark web marketplace known for selling illegal drugs.

It is reported that the jury reached a verdict on Tuesday, stating that 35-year-old Roman Sterlingov's mixing service made it more difficult to trace the sources of proceeds from illegal activities. The government claims that Bitcoin Fog processed over $400 million in untraceable transactions, including some from illegal markets. Roman Sterlingov faces a maximum of 20 years in prison and has been detained for nearly three years, with the court set to issue a ruling on July 15.

Solend's second season incentive campaign will open for claims on July 15, airdropping 1.1 million SLND

The Solana ecosystem lending protocol Solend announced that its second season incentive campaign will end today at 21:00. This campaign will distribute 1.1 million SLND, with all collateral deposits from April 11 to July 12 eligible for rewards. Deposits made before April 17 and maintained until now will receive double rewards. Users can check and claim their rewards on July 15 at 21:00.

Parcl announces the details of the second PRCL community distribution: involving 6% of the total PRCL supply, open for claims on July 15

The Solana ecosystem real estate digital investment platform Parcl Network has announced the details of the second PRCL token community distribution. This distribution involves 6% of the total supply, or 60,000,000 PRCL tokens, with 4% allocated linearly based on the S1 leaderboard and an additional 2% allocated to S1 traders. To ensure overall consistency within the ecosystem, this distribution includes vesting and liquidity components.

Additionally, PRCL tokens will be divided into three vesting/liquidity plans based on user staking amounts, with staking already open and claims starting on July 15.

Binance will support the replacement, increment, and rebranding of Galxe (GAL) tokens to Gravity (G)

According to an official announcement, Binance will support the replacement, increment, and rebranding of Galxe (GAL) tokens to Gravity (G).

Binance will suspend trading and delist all existing GAL spot trading pairs (GAL/BTC, GAL/USDT, and GAL/TRY) on July 15, 2024, at 11:00 AM (UTC+8), and will automatically remove all open orders;

Binance will open G/USDT and G/TRY spot trading on July 19, 2024, at 4:00 PM (UTC+8).

DOGS announces that the activity of purchasing DOGS points using Telegram Stars will end on July 15

The native meme project DOGS on Telegram announced in its official channel that the activity of purchasing DOGS points using Telegram Stars will end on July 15, with 100% of the proceeds from Telegram Stars donated to charity, with the specific charity to be selected through community voting.

Previously reported, on July 12, DOGS integrated the Telegram Stars purchase feature, with a redemption ratio of 1:1, while Telegram Stars can be purchased directly with fiat currency. This move has sparked widespread discussion in the crypto community, suggesting it may be an official coin sale, while the total token supply could be infinitely increased, raising concerns within the community.

July 16 (Tuesday)

The Central Bank of Nigeria accuses Binance of operating without a license in the country, with the next court hearing on July 16

According to Coin Edition, a senior official from the Central Bank of Nigeria (CBN), Olubukola Akinwummi, testified in a court hearing in Abuja that Binance is operating without a license in the country.

Additionally, Binance executive Tigran Gambaryan faces money laundering charges. He was arrested by Nigerian authorities in February 2024 but was released due to deteriorating health. During a previous hearing, he fell ill in court and was diagnosed with malaria. This prompted U.S. politicians to lobby President Biden for Gambaryan's release.

Judge Emeka Nwite accused the prosecution and prison officials of delaying the trial, further escalating tensions. He ordered them to submit a medical report before the next hearing scheduled for July 16. However, prison officials insisted that Gambaryan's health condition was not serious.

Chromia will launch the minimum viable product version of its mainnet on July 16

According to The Block, the relational blockchain Chromia plans to launch its mainnet's minimum viable product version on July 16 to establish the core functionalities of the network.

Chromia aims to facilitate the building of web3 applications by supporting its Layer 1 blockchain with a SQL-like programming language.

Chromia's goal is to make building web3 applications easier by using Rell, a custom programming language comparable to SQL, for its underlying Layer 1 blockchain. The team claims that this language is designed to allow for higher-level computing capabilities and faster execution times when building and running decentralized applications.

The South Korean crypto trading platform GDAC will terminate services on July 16

According to News1, the South Korean crypto trading platform GDAC announced that it will terminate services due to a system restructuring, with the service end date set for July 16. From the service end date, automatic withdrawals will be converted to manual withdrawals, and GDAC will implement a separate withdrawal fee policy for manual withdrawals. As of June 24 at 11:00 AM local time, cryptocurrency trading services on GDAC will no longer be available.

Previously reported, on April 10, the South Korean crypto trading platform GDAC announced that it was hacked on Sunday, resulting in a loss of nearly $13 million in assets, including nearly 61 bitcoins, 350.5 ethers, 10 million WEMIX, and 220,000 USDT, accounting for 23% of its total custodial assets.

Pudgy Penguins will release the "Pudgy Wizard" series NFT on July 16

The NFT project Pudgy Penguins announced that the "Pudgy Wizard" series will be exclusively released on NTWRK at 8:45 AM on July 16, 2024.

July 17 (Wednesday)

Binance plans to conduct wallet maintenance on July 17 and suspend deposit and withdrawal services

Binance will conduct wallet maintenance on July 17, 2024, at 3:00 PM. To support this maintenance, Binance will suspend all deposit and withdrawal services across all networks starting at 3:00 PM on July 17. The maintenance is expected to take 1 hour, and deposit and withdrawal services will automatically resume after the maintenance is completed. During the wallet maintenance, users can trade tokens normally.

July 18 (Thursday)

Sources: The U.S. SEC will hold a closed-door meeting next Thursday, possibly regarding the Ripple lawsuit

According to Coinedition, the U.S. Securities and Exchange Commission plans to hold a closed-door meeting next Thursday (July 18). Although the official agenda has not been disclosed, sources say this meeting may address the Ripple lawsuit and potential settlement options. Given Ripple's significance and the multiple legal actions involving the SEC, many in the crypto community speculate that this will be a focal point. According to market data, XRP has risen 27% in the past week.

Previously, the court ruled that the SEC failed to prove that BNB's secondary sales constituted securities in the Binance case, providing legal support for Coinbase and Ripple. Coinbase and Ripple Labs are leveraging this ruling to challenge the SEC's regulatory stance on cryptocurrencies.

Bloomberg ETF analyst: The U.S. SEC may approve a spot Ethereum ETF on July 18

Bloomberg ETF analyst Eric Balchunas predicts that the U.S. SEC may approve a spot Ethereum ETF on July 18.

Grayscale: ETHE will allocate 10% of its ETH holdings to the ETH mini trust, with a record date of July 18

According to GlobeNewswire, Grayscale announced that July 18, 2024, will be the record date for the initial creation and allocation of shares of the Grayscale Ethereum Mini Trust (ETH mini trust) 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 shares of the ETH mini trust on a 1:1 basis.

Polyhedra Network will launch the next staking program on July 18

Polyhedra Network announced on X that the next staking program will begin on July 18, following the completion of the previous staking program and reward distribution.

Sanctum: CLOUD airdrop claims will open on July 18

The Solana ecosystem liquid staking protocol Sanctum announced on social media that the LFG website will go live on Tuesday (July 16), allowing users to check airdrop allocations; the Alpha Vault will open. On Thursday (July 18), CLOUD will officially launch, and users can claim airdrops and start trading CLOUD.

Coinbase International will add perpetual futures for CRV, ENS, and PEOPLE

Coinbase International announced that it will add support for perpetual futures for Curve DAO, Ethereum Name Service, and Constitution DAO on Coinbase International Exchange and Coinbase Advanced. The CRV-PERP, ENS-PERP, and PEOPLE-PERP markets will begin opening on July 18, 2024, at 9:30 AM (UTC).

Mystiko.Network: The first round of airdrops will be distributed to early contributors and supporters on July 18

The Web3 infrastructure Mystiko.Network announced that it will distribute the first round of airdrops to early contributors and supporters on July 18.

If users did not receive any points in the airdrop points checker on June 18, there is still an opportunity to earn airdrops by participating in other activities before July 18.

Previously reported on June 18, the Web3 infrastructure Mystiko.Network stated that it has opened the XZK airdrop query.

July 19 (Friday)

The South Korean "Prosecutor's Case Filing Scope Regulation Partial Amendment Bill" will take effect on July 19

The South Korean Ministry of Justice announced the formulation of the "Prosecutor's Case Filing Scope Regulation Partial Amendment Bill," which includes virtual asset crimes within the direct investigation scope of prosecutors. The South Korean prosecution will directly investigate economic crimes, including those related to the "Virtual Asset User Protection Act." The bill aims to protect virtual asset users and will take effect on July 19. Violators may face more than one year of imprisonment or fines.

The South Korean government will launch a real-time monitoring system for illegal activities involving crypto assets on July 19

The South Korean Financial Supervisory Service (FSS) announced that it has developed a 24-hour monitoring system in collaboration with local exchanges to screen for any suspicious activities in the crypto asset market. The new system will go live on July 19, coinciding with the implementation of South Korea's first regulatory framework for protecting crypto asset investors.

The FSS also recommended that exchanges establish dedicated teams within their organizations to monitor suspicious transactions and provide guidelines to detect illegal activities in identified transactions through audit information (such as on-chain data). The agency pointed out that illegal activities in crypto assets include unfair trading using undisclosed information about tokens, price manipulation, and falsifying circulation data.

July 20 (Saturday)

Coinbase will delist COVAL, RAI, and wAMPL, and suspend SNX trading for New York users

Coinbase Assets announced on the X platform that, following a recent review, the platform will suspend trading for Circuits of Value (COVAL), Rai (RAI), and Wrapped Ampleforth (wAMPL) around 2:00 AM on July 20 (Beijing time). Trading on Coinbase.com (both simple and advanced), Coinbase Exchange, and Coinbase Prime will be suspended. The order books for COVAL, RAI, and wAMPL have been moved to limit order mode. Limit orders can be placed and canceled, and matching may occur.

Additionally, Coinbase will suspend SNX trading for New York users around 2:00 AM on July 20 (Beijing time). Trading for New York users on Coinbase.com (both simple and advanced), Coinbase Exchange, and Coinbase Prime will be suspended. Supported regions can still trade Synthetix (SNX).

Specific Time Not Yet Determined

Trump will announce his vice presidential pick next week, with crypto-friendly Senator JD Vance likely to be selected

Polymarket prediction platform data shows that the likelihood of crypto-friendly Senator JD Vance becoming Trump's running mate is 29%, with reports indicating that Trump is expected to announce his vice presidential pick next week.

The 137th Ethereum ACDC meeting: Pectra Devnet 1 will release a new version of the testnet next week

According to Christine Kim's summary of the 137th Ethereum Consensus Layer Core Developers meeting (ACDC), this ACDC discussed the progress of Pectra Devnet 1 and PeerDAS Devnet 1, as well as the fork choice testing generation research led by the Consensys research team TxRx.

Regarding Pectra Devnet 1, the CL and EL clients are ready, and the testnet is expected to launch next week. The EF development operations team is testing various client combinations, and the EthereumJS client is ready for testing.

Regarding PeerDAS Devnet 1, EF DevOps engineer Barnabas Busa stated that the CL client team is fixing bugs and plans to restart this weekend. Stokes updated the pull request regarding modifying the hardcoded blob gas limit on EL and CL and plans to formalize it as an Ethereum Improvement Proposal (EIP).

The TxRx research team implemented the initial version of the fork choice testing generator, aimed at identifying client software bugs that could lead to chain splits, and requested feedback to refine the testing suite.

ether.fi Foundation: Season 2 claims will open next week, removing witch addresses

The ether.fi Foundation announced on the X platform that Season 2 claims will open next week, and the team is working to implement feedback provided by the claims checker to ensure accurate distributions to users. Once it is confirmed that accurate distributions have been provided (including the removal of witch addresses), it will go live, with further updates to follow once a date is determined, reminding users to pay attention to the official link.