Daily | Mt. Gox will start repaying Bitcoin and BCH in early July; crypto mining company Hut 8 received $150 million in strategic investment from Coatue; the EU initially ruled that Apple violated the EU's Digital Markets Act

Compiled by: Fairy, ChainCatcher

Important information:

• Upbit will launch Blast (BLAST)
• Crypto mining company Hut 8 received $150 million strategic investment from Coatue, will collaborate to build AI infrastructure platform
• CoinShares sells FTX claims at a recovery rate of 116%
• Mt. Gox will start Bitcoin and BCH repayments in early July 2024
• The European Commission initially ruled that the US Apple App Store rules violated the EU's "Digital Market Act》
• Metaplanet plans to issue 1 billion yen bonds to increase its holdings of Bitcoin
• Data: This week ALT, OP, SUI and other tokens will usher in large-scale unlocking, with a total release value of more than 180 million US dollars

"What important events happened in the past 24 hours?"

Upbit will launch Blast (BLAST)

According to the official announcement, South Korean crypto trading platform Upbit will launch Blast (BLAST), supporting KRW, BTC and USDT trading pairs.

Crypto mining company Hut 8 has received a US$150 million strategic investment from Coatue and will cooperate to build an AI infrastructure platform

Crypto mining company Hut 8 announced that it has received a US$150 million strategic investment from Coatue and the two parties will cooperate to build an artificial intelligence infrastructure platform.

Coatue agreed to invest $150 million in the company via convertible notes bearing interest at 8.00% per annum (compounded quarterly). The notes have an initial term of five years, with the company having options for up to three one-year extensions. The notes offering is expected to close on or before July 11, 2024.

CoinShares sells FTX claims at 116% recovery rate

According to Finance Feeds, CoinShares announced that it has successfully sold its FTX claims, which will generate a recovery rate of 116% after brokerage fees, resulting in 26.6 million pounds of claims. The amount brought a return of £31.32 million.

The agreement was signed today and is subject to customary closing conditions, and the company said it will significantly strengthen CoinShares’ financial position.

Mt. Gox will start repaying Bitcoin and BCH in early July 2024

According to Tree News, Mt. Gox will start repaying Bitcoin and BCH in early July 2024.

The European Commission has preliminarily ruled that the rules of Apple’s online app store in the United States violate the EU’s Digital Markets Act

According to Jinshi report, the European Commission has preliminarily ruled that the rules of Apple’s online app store in the United States violate the EU’s Digital Markets Act. The European Commission believes that Apple’s rules prevent app developers from freely directing consumers to obtain offers and content through other channels. On the same day, the European Commission also launched a new non-compliance investigation against Apple. According to the Digital Markets Act, if violations occur, the European Commission can impose fines on Apple up to 10% of the company's total global turnover.

Founder of 10x Research: Bitcoin double top indicates BTC may fall to $50,000

Markus Thielen, founder of 10x Research, said that from a technical perspective, Bitcoin appears to follow a double top pattern, and support levels are being tested. This pattern should be our base case unless it fails. This pattern could easily drop to $50,000 or even $45,000.

It is reported that this is a bearish technical analysis pattern consisting of two peaks and a trough in the middle, which usually appears after an obvious upward trend. The second peak represents the exhaustion of the uptrend, with the eventual breakout of the low between the two peaks confirming a bearish trend change.

Bitcoin and Ethereum transaction fees fell to lowest level in 7 months

According to Cointelegraph, the average Bitcoin transaction fee reached $1.93 per transaction on June 23, the lowest since October 2023 level.

Additionally, ETH gas fees are near all-time lows due to the shift in activity from Ethereum to its layer 2 network following the Dencun upgradein March. Since the Dencun upgrade, the average gas price on Ethereum has dropped by approximately 92%. According to a report by Layer2 Insider, the L2 network brought in $950,000 last week.

CoinShares: Digital asset investment product outflows totaled $584 million last week

CoinShares weekly report showed that digital asset investment product outflows totaled $584 million last week, a decrease of $1.2 billion.

Bitcoin gold outflows hit $630 million, but recent negative sentiment has not led investors to increase short positions. Multi-asset products saw inflows of $98 million, suggesting investors view weakness in the altcoin market as a buying opportunity.

Last week, global ETP trading volume also hit its lowest level since the launch of US ETFs in January, with trading volume for the week being just $6.9 billion.

Data: The relevant index of the top 100 digital assets by market capitalization fell by about 5%, the largest decline since April this year

According to Bloomberg, the digital asset market in 2024 experienced the second largest weekly decline since 2024. The main reasons It is the cooling market demand for Bitcoin spot ETFs and uncertainty about monetary policy.

In the seven days to last Sunday, the relevant index covering the top 100 digital assets by market capitalization fell by about 5%, which was the largest decline since April this year. Bitcoin fell below $63,000, its lowest level in more than a month. Experts point out that current crypto market dynamics are characterized by low volatility, weak trading volumes, and order books becoming unbalanced when prices start moving towards the edges of the range.

a16z crypto submitted feedback on the IRS draft Form 1099-DA

a16z crypto recently commented on the IRS’s draft Form 1099-DA. The key points are as follows:

• Every digital asset transaction requires multiple Brokers submit Form 1099-DA, resulting in unnecessary duplication of information reporting and an unreasonable burden on filers;
• Requiring brokers to report wallet addresses is unnecessary and will place sensitive taxpayer information in Amid significant risks;
• Providing the information required by Form 1099-DA is cost prohibitive and in some cases even impossible;
• The final rule should delay or “phase in” the effective date of digital asset information reporting requirements;
• Non-custodial wallets and digital asset payment processors should be removed from the “broker” category listed on Form 1099-DA;
• The IRS should not require the disposal of fiat-backed stablecoins and most NFTs (non-fungible) Requirements for filing Form 1099-DA should include a minimum threshold that should allow brokers to aggregate transactions for reporting purposes.
• Metaplanet plans to issue 1 billion yen bonds to increase its holdings of Bitcoin

Japanese listed company Metaplanet announced that its board of directors has approved the use of 1 billion yen (approximately $6.26 million) to increase its holdings of Bitcoin. The funds will come from the issuance proceeds of the company's second tranche of ordinary bonds (with guarantees).

The bonds have an annual interest rate of 0.5%, will be paid on June 26, 2024, and will mature on June 25, 2025.

Cathie Wood: Will vote for Trump in the presidential election based on economic reasons

Cathie Wood, CEO of US investment company Ark Invest, said she plans to vote for the former US president, Republican, in the upcoming presidential election Predetermined candidate Donald Trump.

Wood said that when it comes to economic issues, I am a voter, and based on that, I chose Trump. The first three years of the Trump administration before the coronavirus outbreak were “the best three years in U.S. economic history.” The Ark Invest CEO has long been a supporter of cryptocurrencies, and Trump has recently expressed his support for cryptocurrencies. Strong support from the industry.

Data: ALT, OP, SUI and other tokens will be unlocked this week, with a total release value of more than 180 million US dollars

According to Token Unlocks data, the entire network’s mainstream encryption projects will be released in the next 7 days. A total of 188 million US dollars worth of tokens will be unlocked, and 7 projects will usher in a large one-time unlocking of tokens. Among them:

• AltLayer will unlock 105 million ALT at 18:00 on June 25, accounting for 10% of the total circulation. 6.92% of the supply, worth approximately US$19.88 million;
• Yield Guild Games will unlock 16.69 million YGGs at 22:00 on June 27, accounting for 4.48% of the circulating supply, worth approximately US$10.65 million;
• SingularityNET 8.57 million AGIX will be unlocked at 8:00 on June 28, accounting for 0.67% of the circulating supply, worth approximately US$5.3 million;
• Echelon Prime will unlock 750,000 PRIME at 8:00 on June 30, accounting for 0.67% of the circulating supply 1.83% of the total supply, worth approximately US$7.79 million;
• Optimism will unlock 31.34 million OP at 8:00 on June 30, accounting for 2.88% of the circulating supply, worth approximately US$56.1 million;
• Ethena Labs will unlock 14.89 million ENA will be unlocked at 15:00 on June 30, accounting for 0.87% of the circulating supply, worth approximately US$8.96 million;
• Sui will unlock 64.19 million SUI at 8:00 on June 30, accounting for 2.65% of the circulating supply %, worth approximately US$57.15 million.

"What are the interesting articles worth reading in the past 24 hours"

Feature | Nearly 500 projects have been competing for 8 years to become a unicorn, is Web3 Social Summer coming? Two years before becoming a unicorn, the founder of Farcaster adopted the most original method to promote his social application: lobbying Web3 people in his circle of friends one by one and inviting them to join the platform, including Buterin who promoted Farcaster. .

After thousands of promotions, Farcaster has a group of elite seed users

Web3 users led by early Twitter investor Fred Wilson announced their migration to Farcaster. Most of Vitalik’s views were first published on Farcaster

. Today, Farcaster announced the completion of US$150 million in financing at a valuation of US$1 billion.

Since the decentralized content platform Steemit was launched in 2016 to kick off the Web3 social narrative, Web3 socialization has gone through eight years.

Compared with the ebb and flow of DeFi and GameFi, Web3 social networking is a more lonely story. Most of the first-generation gold diggers such as Steemit and Bihu have ceased operations. Lens, Damus, and friend.tech quickly fell into silence after creating a short-lived spark.

Farcaster seems to bring a glimmer of hope to Web3 social networking.

Conversation with Maverick COO Ada: How to build a one-stop liquidity operating system in the DeFi field?

On the evening of June 19, Maverick V2 was launched as scheduled. Affected by this good news, the MAV token rose by more than 10% that day.

Maverick has been working hard to improve LP yield and capital utilization efficiency.

High capital efficiency means that with the same amount of liquidity, the capital pool on the Maverick platform can generate more transaction volume. The more transaction volume in the capital pool, the directly converted LP income will be more.

Ada, who has made outstanding achievements in the traditional financial field and now serves as Maverick COO, said in an interview with ChainCatcher that Maverick V2 makes the platform not just an AMMM or DEX solution provider, but an Stationary Liquidity Operating System (LiquidityOS).

She explained that the LiquidityOS concept proposed by Maverick is analogous to Apple's IOS operating system, which supports developers to custom develop and customize any liquidity tools and solutions on the platform.

New article by Andrew Kang: Why I don’t think Ethereum can replicate the success of Bitcoin ETFs?

The BTC ETF has opened the door for many new buyers to allocate Bitcoin in their portfolios. The impact of the ETH ETF is less clear.

I was heavily bullish on Bitcoin at $25,000 when the Blackrock ETF application was filed, and it has now returned 2.6x, while ETH has returned 2.1x. From the bottom of the cycle, BTC has returned 4.0x, and ETH has returned 4.0x as well. So, how much upside can the ETH ETF bring? I don't think it will be too big unless Ethereum develops compelling ways to improve its economics.

Fierce Debate: How to comment on Binance’s frequent currency listing controversy? Why do you say that the era of hair-raising may be over?

Last weekend, the conflict between VC coins, exchanges and retail investors was catalyzed by two long articles by Binance co-founder He Yi, and reached a recent peak. On June 20, the project token named Lista DAO was launched on the platform for trading as the second Launchpad project on Binance Megadrop. Because Lista DAO team members include former Binance employees, the project’s predecessor also received investment from Binance Labs. With multiple blessings, many users are optimistic about LISTA and participate in secondary transactions. However, despite the overall weakness of the market, LISTA did not bring any surprises to retail investors and instead fell all the way. This seemed to be the last straw that broke the camel's back. The market's anger gradually spread from dissatisfaction with VC coins to Binance's frequent currency listings. But it ignores the interests of secondary users.

On June 21, He Yi issued an article in response, bluntly stating that "even if Binance does not list new projects, funds will be diverted due to token unlocking, Meme coins, etc."; "Some VCs are indeed the core reason for the inflated prices, but VC Raising funds from LP is generally a 7-year lock-in period of 4+3, charging management fees + dividends; VC is generally unlocked one year after TGE (not representative of all), so many VCs in the currency circle are also going bankrupt, and some VC LP investments The currency circle may also return to zero”

The above is the detailed content of Daily | Mt. Gox will start repaying Bitcoin and BCH in early July; crypto mining company Hut 8 received $150 million in strategic investment from Coatue; the EU initially ruled that Apple violated the EU's Digital Markets Act. For more information, please follow other related articles on the PHP Chinese website!