This Week's Key News Preview | The Federal Reserve will hold a monetary policy meeting; OKX Jumpstart will launch Matr1x (MAX); Harris may be nominated as the Democratic presidential candidate
Highlights of the week from July 29 to August 4.整理：Fairy，ChainCatcher
Key News:
- The Federal Reserve will hold a monetary policy meeting from July 30 to 31.
- Senator Cynthia Lummis will propose a bill for the U.S. Treasury to purchase 1 million bitcoins.
- OKX Jumpstart will launch Matr1x (MAX).
- A New York district court judge will sentence Mango Markets attacker Avi Eisenberg on July 29.
- Grayscale's GBTC split into mini trust fund BTC is scheduled for July 31.
- Harris may be nominated as the Democratic presidential candidate before August 1.
- Ferrari plans to expand its cryptocurrency payment service to Europe by the end of this month.
- MicroStrategy (MSTR) will conduct a 10-for-1 stock split, effective August 1.
July 29 (Monday)
OKX will launch multiple USDC trading pairs including CVC/USDC, XTZ/USDC, DAI/USDC
According to the official announcement, the USDC trading zone under OKX will add the following USDC trading pairs from 2:00 PM to 4:30 PM (UTC+8) on July 29, 2024:
CVC/USDC, XTZ/USDC, API3/USDC, DAI/USDC, LSK/USDC, BICO/USDC, ZRX/USDC, PSTAKE/USDC, GLMR/USDC, QTUM/USDC, KNC/USDC, MLN/USDC, BADGER/USDC, PHA/USDC, BAND/USDC, NMR/USDC, T/USDC, SC/USDC, REN/USDC, and ICX/USDC.
OKX Jumpstart will launch Matr1x (MAX)
OKX announced that it will launch the Jumpstart mining event for MAX tokens at 6:00 AM UTC on July 29, 2024. The main details of the event are as follows:
Mining mechanism: Users can stake BTC or ETH to mine MAX tokens.
Mining pool size: A total of 20 million MAX tokens can be mined from the BTC and ETH staking pools.
Event duration: From 6:00 AM UTC on July 29, 2024, to 6:00 AM UTC on August 5, 2024.
Staking limit: Each person can stake a maximum of 0.3 BTC or 3.5 ETH, with no minimum staking requirement.
Trading open: The mined MAX tokens will be available for trading on August 5, 2024.
The following countries and regions are not eligible for this event: Mainland China, Hong Kong, and South Korea.
CME and CF Benchmarks will launch new cryptocurrency reference rates and real-time indices for XRP and ICP
According to PR Newswire, CME and cryptocurrency benchmark index provider CF Benchmarks announced today that they plan to launch new cryptocurrency reference rates and real-time indices for XRP and ICP starting July 29. These new benchmarks will be calculated and published daily by CF Benchmarks, utilizing pricing data from cryptocurrency trading platforms that are currently part of the CME CF benchmark reference rate and real-time index suite.
Each new benchmark will be calculated using pricing data from at least two trading platforms, including Bitstamp, Coinbase, Gemini, itBit, Kraken, and LMAX Digital.
Binance Futures will integrate dstream domain on July 29
According to the official announcement, Binance has released an update regarding the Binance Futures coin-based WebSocket domain, which will integrate the dstream domain at 2:00 PM (UTC+8) on July 29, 2024.
To ensure access to the WebSocket server data for the coin-based futures platform, Binance recommends that API users establish new WebSocket connections before 2:00 PM (UTC+8) on July 29, 2024.
A New York district court judge will sentence Mango Markets attacker Avi Eisenberg on July 29
According to CoinDesk, a Manhattan jury in New York found Mango Markets attacker Avi Eisenberg guilty of fraud and market manipulation, having stolen $110 million from Mango Markets in October 2022. New York district court judge Arun Subramanian will sentence him on July 29. Eisenberg was arrested in December 2022 in Puerto Rico and charged with commodity fraud, commodity manipulation, and wire fraud. If all three charges are upheld, he faces a maximum of 20 years in prison.
July 30 (Tuesday)
Liquidswap will launch token LSD on July 30, with 15% allocated for airdrops and staking rewards
Web3 product development studio Pontem tweeted that its DEX Liquidswap will launch the token LSD on July 30. 42 million LSD will be minted at genesis and will be available over three years. Of these, 40% of the tokens will be allocated to the community (15% for airdrops and staking rewards), and the snapshot has been completed.
The initial allocation is as follows:
- 15% for airdrop + staking incentives;
- 16% allocated to the treasury, unlocking over 36 months;
- 8% for trading platform liquidity;
- 1% for IEO;
- 13.26% allocated to the founding team, with a 1-year cliff and a total vesting period of 3 years;
- 25.25% allocated to private investors from 2021;
- 21.49% allocated to private investors from 2023.
OKX will launch Layer3 (L3) trading
OKX announced that it will launch Layer3 (L3), with L3 deposit opening at 4:00 PM on July 26, and L3/USDT trading opening at 6:00 PM on July 30, with withdrawals opening at 6:00 PM on July 31.
The Federal Reserve will hold a monetary policy meeting from July 30 to 31
The Federal Reserve will hold a monetary policy meeting from July 30 to 31. The International Monetary Fund (IMF) stated that the Federal Reserve should wait until "the end of 2024" to consider interest rate cuts, while the U.S. government needs to increase taxes to control the growing federal debt, with tax increases affecting households earning less than $400,000 a year. These recommendations come from the IMF's latest detailed staff report on the annual "Fourth Article" assessment of U.S. economic policy.
July 31 (Wednesday)
TrueUSD: Deadline for BEP2-TUSD holders to convert tokens
TrueUSD reminds all BEP2-TUSD holders to convert their tokens to TUSD tokens of other network standards before July 31, 2024, as the BNB Beacon Chain will be gradually phased out.
DeFi Technologies and Stillman Digital expect to reach a final agreement on acquisition
Canadian listed company DeFi Technologies has signed a letter of intent to acquire digital asset liquidity provider Stillman Digital, whose core business includes electronic trading execution, over-the-counter block trading, and market making. According to the letter of intent, DeFi Technologies will acquire all issued and outstanding securities of Stillman Digital in exchange for 2.5 million shares of DeFi Technologies common stock, of which 1 million shares are subject to a lock-up plan and will be released quarterly over one year.
Both parties intend to reach a final agreement on the acquisition by July 31, 2024.
Grayscale's GBTC split into mini trust fund BTC is scheduled for July 31
According to Bloomberg ETF analyst James Seyffart, the date for Grayscale's GBTC split into mini trust fund BTC is set for July 31.
zkLend: ZEND Airdrop 1 claim deadline is July 31
zkLend announced on X that the claim window for ZEND Airdrop 1 will close on July 31, urging users to claim in time.
Zivoe plans to launch its credit protocol on July 31 and simultaneously start ITO (Initial Tranche Offering)
Real-world asset (RWA) credit protocol Zivoe announced the completion of $8.35 million in financing, with investors including Andrew Keys, Iceberg Capital, and Concave. This funding will be used to expand credit channels, and Zivoe plans to launch its credit protocol on July 31 while simultaneously starting ITO (Initial Tranche Offering), allowing liquidity providers to deposit stablecoins into Zivoe's senior or junior pools and receive tokens in return.
Additionally, Web3 asset data platform RootData shows that Zivoe is a real-world asset credit protocol that disrupts predatory high-interest consumer lending while bringing consumer loan proceeds on-chain. It acts as a bridge between traditional finance and on-chain finance, facilitating the connection between on-chain liquidity and real-world borrowers.
August 1 (Thursday)
Thailand's digital wallet registration will be open from August 1 to September 15
According to Jin10, market news indicates that Thailand's digital wallet registration will be open from August 1 to September 15. The Thai Deputy Minister of Finance stated that digital cash consumption will begin in the fourth quarter, with the digital wallet program expected to attract 45 million participants, and the government has prepared 450 billion baht in funding.
Harris may be nominated as the Democratic presidential candidate before August 1
According to market news, U.S. Vice President Harris may be nominated as the Democratic presidential candidate before August 1; the Democratic committee has reached a consensus to nominate the presidential candidate virtually before August 7; the vice presidential candidate is expected to be nominated before August 7.
Coinbase International will launch perpetual futures for Dymension, Maker, and Aave
Coinbase International announced that it will add support for perpetual futures for Dymension, Maker, and Aave on Coinbase International Exchange and Coinbase Advanced. The DYM-PERP, MKR-PERP, and AAVE-PERP markets will begin opening at 9:30 AM UTC on August 1, 2024, or later.
MicroStrategy (MSTR) will conduct a 10-for-1 stock split, effective August 1
According to CoinDesk, MicroStrategy, the largest corporate holder of Bitcoin, has over $13 billion worth of Bitcoin in its treasury. MicroStrategy (MSTR) announced today that it will conduct a 10-for-1 stock split, effective August 1, with shares being distributed after the market closes on August 7. This split will make the company's stock "more accessible to investors and employees."
Before this announcement, MicroStrategy's stock price had more than doubled over the past year and reached a historic high of over $1,900 in March, while BTC rose above $70,000. Today, the stock rose 6.8% to $1,300. MicroStrategy is led by executive chairman and widely followed Bitcoin supporter Michael Saylor, who typically increases leverage on Bitcoin holdings. The company regularly issues bonds to raise funds to purchase more Bitcoin for its treasury. After its latest purchase last month, the company holds 226,331 Bitcoins, worth over $13 billion.
Stock splits are common among publicly traded companies with significantly appreciated stock prices. While a split does not change the company's valuation, it may make the stock psychologically easier for smaller retail investors to purchase by lowering the stock price, even in many retail trading platforms that offer fractional shares. Recently, chip manufacturing giant Nvidia conducted a 10-for-1 stock split last month after its stock price reached four digits, driven by a surge in the AI sector, with its stock price doubling within a year.
Animoca Ventures' proposal to collaborate with ApeCoin to launch a new fund, ApeCoin Ventures, will end voting on August 1
According to Snapshot information, Animoca Brands' venture capital division, Animoca Ventures, initiated a proposal at ApeCoin DAO to jointly establish a joint fund, ApeCoin Ventures, aimed at investing in seed and Series A Web3 projects, prioritizing those that can integrate ApeCoin into their ecosystems to enhance the value, utility, synergy, network effects, and impact of ApeCoin. The fund size for ApeCoin Ventures is $10 million, with ApeCoin DAO needing to allocate $5 million worth of APE (Animoca Ventures plans to sell it for fiat), and Animoca Ventures will contribute $5 million. The proposal is currently open for voting, with a current support rate of 83.49%, and voting will end on August 1.
Onyx Protocol v3 white paper will be released on August 1, along with the launch of its L3 chain
DeFi protocol Onyx announced on X that the Onyx Protocol v3 white paper will be released on August 1, along with the launch of its Layer 3 blockchain network, with the testnet coming soon.
August 2 (Friday)
The Ethereum-based free online role-playing game The Forgotten Runiverse announced that it is migrating from Arbitrum to the Ronin sidechain in preparation for its launch on the Epic Games Store. The closed testing of the game will take place from July 31 to August 2, with public testing scheduled to begin in August.
August 3 (Saturday)
Indian cryptocurrency exchange WazirX will implement a socialized loss strategy shared by all users, with users required to make selections by August 3
According to an important update announcement from Indian cryptocurrency exchange WazirX, a recent cyber attack resulted in approximately $230 million (equivalent to 45% of user funds) being stolen. WazirX announced that it will implement a fair and transparent socialized loss strategy to ensure that all users share the impact fairly. This strategy allows users to immediately access 55% of their assets, while the remaining 45% will be converted into tokens equivalent to USDT and locked.
Users can choose between two asset management schemes, each with specific advantages and conditions. The unlocked 55% of assets will create a balanced portfolio using a basket of available crypto assets on the platform. If the unlocked assets include affected tokens, they will be replaced with unaffected crypto assets. The value of the unlocked assets will be calculated based on the average price from CoinMarketCap and selected global exchanges at 8:30 PM (IST) on July 21, 2024.
Users must make their selections by 7:00 AM (IST) on August 3, 2024. The results of this vote will serve as a reference for the final decision, considering survey results, platform liquidity, and other factors.
Specific time not yet determined
Senator Cynthia Lummis will propose a bill for the U.S. Treasury to purchase 1 million bitcoins
According to The Block, Senator Cynthia Lummis stated that she will introduce a bill this week directing the U.S. Treasury to purchase 1 million bitcoins (worth approximately $69 billion) over five years. She indicated that this move is intended to offset the impact of the devaluation of the dollar.
She stated that the bill will require the U.S. Treasury to securely hold the bitcoins in "multiple geographic locations." The government will hold these tokens for at least 20 years unless they are sold to "reduce debt."
Ferrari plans to expand its cryptocurrency payment service to Europe by the end of this month
According to Cryptonews, Ferrari announced plans to expand its cryptocurrency payment options for its luxury sports cars to its European dealers starting at the end of this month. The company stated that by the end of 2024, it aims to offer this payment method to more international dealers in countries/regions that legally accept cryptocurrencies.
The company stated, "Following the positive reception of this alternative payment system in the U.S., our entry into the European market is a natural progression to support dealers in meeting the evolving needs of our customers."
The company emphasized that countries with strict restrictions on cryptocurrencies, such as China, will not be included in this rollout.
Previous news indicated that Ferrari (RACE.MI) marketing and business stated that its luxury sports car business in the U.S. has begun accepting cryptocurrency payments and will expand this plan to Europe based on customer requests.
Ethereum SVM L2 project Eclipse will launch its mainnet this week
Ethereum SVM L2 project Eclipse announced on X that it will launch its mainnet this week.
According to Web3 asset data platform RootData, Eclipse is a customizable rollup provider compatible with multiple Layer 1 blockchains. The platform enables developers to deploy their own rollups powered by the Solana operating system, using any chain for security or data storage.
Jupiter co-founder: Proposal voting related to "JUP supply reduction" will commence and conclude
Jupiter co-founder Meow posted on social media that next week will be very important for JUP, with the following schedule:
- Monday: JUP Essay;
- Tuesday: Community audit of JUP distributed so far;
- Wednesday: Token supply reduction proposal;
- Thursday: Voting;
- Friday-Saturday: Discussion;
- Sunday: Conclusion.
By the end of next week, the community will achieve a high level of understanding and consensus.
