Daily Report | Qatar will implement a cryptocurrency framework by the end of 2024; Solana's market value rises to rank 204 among global assets; Hong Kong's Securities and Futures Commission has included Proxinex and its related websites on the warning list of suspicious virtual asset trading platforms
July 29 News OverviewOrganizer: Luan Peng, ChainCatcher
Important News:
- Kryptanium Capital Founder: The SOL/ETH trading pair has broken through the daily and weekly highs
- Australia's Monochrome Bitcoin Spot ETF assets under management exceed 10 million AUD
- Co-chair of the Hong Kong Blockchain Association, Fang Hongjin: Suggests Hong Kong's foreign exchange fund to continuously buy and hold Bitcoin long-term
- YouTube features a fake Elon Musk "double your money" scam, defrauding $28,000 in crypto assets in three days
- Qatar to implement a crypto framework by the end of 2024
- Data: Solana's market cap rises to rank 204 globally
- Data: TRY's trading volume has exceeded $10 billion for eight consecutive months, the longest on record
- Coinbase to provide custody services for Australia's Bitcoin ETF "BTXX"
What important events happened in the past 24 hours?
Kryptanium Capital Founder: The SOL/ETH trading pair has broken through the daily and weekly highs
Kryptanium Capital founder Daniel Yan stated on X: "After three failed attempts earlier this year, the SOL/ETH trading pair has finally broken through the daily and weekly highs. The implications here are not simple. The resistance for SOL's movement has decreased again in the coming months."
Australia's Monochrome Bitcoin Spot ETF assets under management exceed 10 million AUD
According to official data, as of July 26, 2024, Australia's Monochrome Bitcoin Spot ETF has surpassed 10 million AUD (approximately 6.5455 million USD) in assets under management (AUM).
Fang Hongjin, co-chair of the Hong Kong Blockchain Association, recently suggested that Hong Kong's government foreign exchange fund should continuously buy and hold Bitcoin long-term to enhance the diversification and anti-inflation of the foreign exchange fund's assets, reducing reliance on a single dollar asset and increasing the autonomy of financial policy.
At the same time, early purchases of Bitcoin could establish international market influence and utilize Bitcoin's staking financing characteristics to counter international capital attacks on Hong Kong's linked exchange rate.
Additionally, this move will provide financial credit assurance for Hong Kong's ambition to become an international Web 3.0 hub. Fang pointed out that Bitcoin's characteristics as digital gold have gradually been accepted by the international traditional financial industry, and many central banks may follow the trend of adopting Bitcoin as a reserve asset. For example, in 2021, El Salvador announced Bitcoin as its official currency anchor asset, while Switzerland has also passed legislation to include Bitcoin in its national bank reserves. The U.S. may also consider listing Bitcoin as a strategic national asset reserve, further driving demand for Bitcoin among central banks and traditional financial institutions.
Fang believes that Bitcoin is likely to become an international financial mainstream asset on par with or even surpassing gold. Currently, Bitcoin's market cap is about 1.4 trillion USD; if its market cap reaches the level of gold, the price of one Bitcoin could soar from the current 68,000 USD to nearly 600,000 USD. Therefore, allocating a certain proportion of Bitcoin in Hong Kong's foreign exchange fund and holding it long-term could increase the stability and autonomy of Hong Kong's finance.
According to Bitcoin.com, a fake "double your money" scam impersonating Elon Musk has appeared on YouTube in the past three days. This scam disguised itself as an official Bitcoin 2024 live stream, luring users to send their crypto assets.
Last weekend, AI-generated fake Musk live streams were very active, with a single specific video gathering over $28,000 in Bitcoin, ETH, and Dogecoin.
The scam follows a typical "double your money" scheme, enticing users to send any amount of Bitcoin, ETH, Dogecoin, or USDT, promising to return double the sent amount.
Qatar to implement a crypto framework by the end of 2024
Henk Jan Hoogendoorn, head of the financial services department at the Qatar Financial Centre (QFC), stated that Qatar has established a solid framework for tokenizing various real-world assets, including securities, debt capital market instruments, investments, Islamic bonds, and other asset classes. This framework is expected to be completed and promulgated in the fourth quarter of this year.
Additionally, the QFC has recently established a digital asset lab to encourage innovation and research in the financial and digital asset sectors.
Data: Solana's market cap rises to rank 204 globally
As the price of SOL rises to the $193 range, Solana's market cap has approached $90 billion. According to 8marketcap data, Solana's market cap has surpassed companies like Starbucks, Meituan, and Airbnb, briefly rising 12 places to rank 204 globally.
According to Kaiko data, the Turkish lira (TRY) has shown resilience against the volatility of the cryptocurrency market this year, with trading volume exceeding $10 billion for eight consecutive months, the longest period on record.
Coinbase to provide custody services for Australia's Bitcoin ETF "BTXX"
Digitalx, a company listed on the Australian Securities Exchange (ASX), has chosen Coinbase to provide custody and advanced trading execution services for its recently approved Bitcoin ETF "BTXX" in Australia.
Through this collaboration, eligible Australian investors will be able to access Bitcoin and other digital assets through Coinbase Prime, a comprehensive prime brokerage platform, utilizing traditional fund structures.
Previously, Coinbase had been recognized as a custodian by eight of the eleven Bitcoin ETF issuers in the U.S.
According to Cointelegraph, asset management company BlackRock has warned investors to be wary of scams targeting its iShares spot Bitcoin and Ethereum ETF products.
The ETF reminds users not to interact with individuals or companies impersonating BlackRock representatives on social media platforms like WhatsApp or Telegram, as these scammers often lure victims with offers of training or investment opportunities.
According to Jinshi, the Hong Kong Securities and Futures Commission has issued a press release warning the public to be cautious of an entity operating under the name "Proxinex" suspected of engaging in virtual asset-related fraud.
Investors reported difficulties withdrawing virtual assets from Proxinex, only to be informed that their "accounts do not exist." The Hong Kong Securities and Futures Commission also suspects that Proxinex employed agents to lure investors into depositing funds through dating apps. These agents may have forged documents claiming to be issued by a certain financial regulatory authority and a financial institution in Hong Kong to embellish their resumes. The Hong Kong Securities and Futures Commission has included Proxinex and its related websites in the warning list of suspicious virtual asset trading platforms as of July 29, 2024. Although the related websites are currently inaccessible, the public should be wary of scammers potentially continuing to establish similarly named domains.
"What are the must-read articles from the past 24 hours?"
On July 28, Beijing time, the three-day Bitcoin 2024 (Nashville) concluded.
Bitcoin 2024 is destined to leave a significant mark in crypto history. Coinciding with the critical timing of the 2024 U.S. presidential election, this Bitcoin tech forum has become one of the largest political stages.
Compared to previous years' focus on Bitcoin technological innovation, Bitcoin 2024 saw a gathering of politicians, with market attention almost entirely centered on their crypto commitments.
U.S. presidential candidates Trump, Robert F. Kennedy Jr., and several U.S. senators participated in the conference, proposing key strategies that could influence Bitcoin and the future direction of the crypto market.
After over a decade of development, the Bitcoin conference has evolved from a forum that only tech geeks cared about into a political stage filled with politicians, reflecting the expanding influence of cryptocurrency, which has finally gained mainstream acceptance.
Bitcoin may not need politicians, but politicians now need cryptocurrency.
A recent proposal passed by the lending protocol Compound Finance has sparked accusations of governance attacks from community members, who claim that a small group forced the proposal through by acquiring tokens in large quantities on the open market.
On Sunday, Proposal 289 was narrowly approved with 682,191 votes to 633,636 votes, allocating 5% of the Compound treasury, worth approximately $24 million, or 499,000 COMP tokens, to a yield protocol designed by "Golden Boys" for one year. The voting for this proposal started at 11:40 PM on Thursday and continued through the weekend.
However, community members claim that there is more to the voting results than meets the eye.
Constant Action: A Comprehensive Overview of Leading Mining Company Marathon's Recent Developments
The Bitcoin 2024 conference officially began on July 25, with the first day's agenda focusing on BTC mining. As a leading Bitcoin mining company, Marathon Digital has attracted significant attention from investors. Recently, the company has been in the news frequently, with a series of initiatives becoming hot topics in the industry. This article will provide a quick overview of Marathon Digital's latest developments in key areas such as increasing Bitcoin holdings and incubating L2.
Snowden's Bitcoin 2024 Speech: Bitcoin's Privacy Challenges in the Age of AI
Today, Bitcoin is anything but the money of criminals. It is a secure hard currency that happens to be very useful. That is why all investors invest in it, all developers are developing it, and everyone is a fan of it, promoting it and participating in this event.
Silicon Valley Shifts Right: Peter Thiel, A16Z, and Political Ambitions in Cryptocurrency
The liberal paradise is shifting to the right.
As if overnight, the narrative in Silicon Valley began to lean towards the Trump camp, and after Harris became the presumptive Democratic presidential candidate, Silicon Valley has become increasingly divided. Public support for Trump was once taboo in Silicon Valley, but now this blue bastion is wavering due to frustration with Biden and the Democratic government.
In the past two years, tech giants in Silicon Valley have begun to engage in politics in a more high-profile manner. Just as "software eats the world," these kingmakers are reshaping the power dynamics in Washington through capital and influence.
