Daily | Digital asset investment products saw an inflow of US$1.44 billion last week; South Korea is considering postponing the implementation of “virtual asset investment income tax”; digital asset investment management platform Haruko completed US$6 million in Series A financing

Compiled by: Luan Peng, ChainCatcher

Important information:

• CoinShares: Digital asset investment products inflowed US$1.44 billion last week, and Bitcoin's single-week inflow hit the fifth highest in history
• Musk: There have been two assassinations in the past 8 months, the gunmen were both arrested
• 10x Research: Bitcoin is expected to see a larger sell-off in the coming weeks and months
• Data: Global Bitcoin The ETF holds a total of approximately 1.05 million BTC, worth approximately US$64.1 billion
• South Korea is considering delaying the implementation of the "virtual asset investment income tax"
• Digital asset investment management platform Haruko completed US$6 million in Series A financing
• Data: If Bitcoin Exceeding US$65,000, mainstream CEX will have US$732 million in short orders liquidated
• Data: The trading volume of 6 Hong Kong virtual asset ETFs today is approximately HK$48.19 million

What important events happened in the past 24 hours”

CoinShares : The inflow of digital asset investment products last week reached US$1.44 billion, and Bitcoin’s single-week inflow hit the fifth highest in history

CoinShares’ latest weekly report showed that the inflow of digital asset investment products last week reached US$1.44 billion, bringing the year-to-date inflow to Reaching a record $17.8 billion, far exceeding 2021’s $10.6 billion inflows

Bitcoin had its fifth-largest weekly inflow on record at $1.35 billion, while short Bitcoin hit a record 4. The largest weekly outflow since January reached $8.6 million. Ethereum saw an inflow of $72 million last week, possibly due to expectations that spot ETFs will soon be approved in the United States. Musk: There have been two incidents in the past 8 months. Assassinations, the gunmen were both arrested

Musk said yesterday that there had been two assassinations in the past eight months, and the gunmen were both arrested about 20 minutes’ drive from Tesla’s headquarters in Texas. Catch.

10x Research: Expect a bigger sell-off in Bitcoin in the coming weeks and months

10x Research said in a report that due to oversupply and lack of solid market fundamentals , concerns persist, creating potential risks for mid-term traders, as Bitcoin appeared to rebound from oversold levels ahead of the release of the Consumer Price Index (CPI), which is expected to drop .

However, as this expectation has become more widely known and Bitcoin has risen, this downward trend in inflation may continue until October, when year-over-year data will be more challenging, although in the US. The price of Bitcoin has weathered a nearly 20% correction at its lowest point during the sale of $3 billion worth of Bitcoin, however, more is expected in the coming weeks and months. A massive sell-off, which could further impact the market.

Data: Global Bitcoin ETFs hold a total of approximately 1.05 million BTC, worth approximately US$64.1 billion

According to HODL15Capital monitoring, global Bitcoin ETFs (39 funds) currently hold a total of 1,051,569 Bitcoins, worth approximately US$64.1 billion.

South Korea is considering delaying the implementation of the “virtual asset investment income tax”

The South Korean government and the ruling party are considering delaying the inclusion of cryptocurrency investment income tax in next year’s tax revision proposal. If the bill passes, taxation on cryptocurrency investments will be postponed from January 1, 2025 to January 1, 2028. The Treasury said in a statement that no decision had been made on additional deferrals.

Haruko, a digital asset investment management platform, completed US$6 million in Series A financing

UK digital asset investment management platform Harukocompleted US$6 million in Series A financing, funded by White Star Capital’s Digital Asset Fund Co-leading the investment with MMC Ventures, the company’s total financing has now reached US$16 million. This financing will help the company enter the Southeast Asian market and further consolidate its global influence.

It is reported that Haruko was founded in 2021 by Shamyl Malik, Adam Carlile and Omer Suleman to provide the most comprehensive digital asset technology solutions for institutions deploying capital in the digital asset ecosystem. It has a client base of over 50 investment managers and has offices in London and Singapore.

Previously, Haruko, an institutional-grade crypto investment intermediary, announced the completion of a US$10 million seed round of financing, led by Portage Ventures and White Star Capital.

Data: If Bitcoin exceeds 65,000 US dollars, mainstream CEX will have 732 million US dollars of short orders liquidated

According to Coingalssdata, according to the current mainstream CEX contract positions, if Bitcoin rebounds and exceeds 65,000 US dollars US dollars, it is expected that US$732 million of short orders will be liquidated. If Bitcoin falls to around $61,000, $942 million in long orders are expected to be liquidated.

Data: The trading volume of 6 Hong Kong virtual asset ETFs today is approximately HKD 48.19 million

Hong Kong stock market data shows that as of the close of trading today, the trading volume of six Hong Kong virtual asset ETFs was approximately HK$48.19 million, of which: ChinaAMC Bitcoin ETF (3042.HK) had a trading volume of HK$25.8522 million; ChinaAsia Ethereum ETF (3046.HK) trading volume was HK$3.6436 million; Harvest Bitcoin ETF (3439.HK) trading volume was HK$6.3151 million; Harvest Ether ETF (3179.HK) trading volume was HK$4.6805 million; The transaction volume of Boshi HashKey Bitcoin ETF (3008.HK) was HK$6.8437 million; The transaction volume of Boshi HashKey Ethereum ETF (3009.HK) was HK$857,400.

Hong Kong Treasury Bureau: The consultation summary on the proposed regulatory system for stablecoin issuers will soon be released

The Hong Kong Financial Services and the Treasury Bureau stated that following the virtual asset service provider licensing system in June last year Taking effect, the Treasury Bureau and the Hong Kong Monetary Authority consulted the public on the proposed regulatory system for stablecoin issuers in Hong Kong at the end of last year, and will soon issue a conclusion of the consultation to prepare a bill for consideration by the Legislative Council.

The Treasury Bureau pointed out that it hopes that a regulatory system for fiat stablecoin issuers that is appropriate and consistent with international regulatory recommendations can provide sufficient protection for fiat stablecoin users and address the potential risks that fiat stablecoins pose to monetary and financial stability. , allowing Hong Kong’s virtual asset ecosystem to develop sustainably and responsibly.

In view of the important role of fiat stablecoins in Web3 and the virtual asset ecosystem, and the increasingly close connection between the traditional financial system and the virtual asset market, the government needs to establish a regulatory system for fiat stablecoin issuers. The main requirements include: reserve management and stabilization mechanisms, including the requirement that issuers must ensure that fiat currency stablecoins are fully backed by high-quality and highly liquid reserve assets; redemption requirements; and regulatory requirements such as governance, knowledge and experience.

At the same time, in order to protect fiat stablecoin users, it is recommended that only the following institutions can sell fiat stablecoins in Hong Kong, or actively promote relevant services to the Hong Kong public: licensed fiat stablecoin issuers; authorized institutions (i.e. banks) ); licensed corporations; and licensed virtual asset trading platforms. For existing stablecoin issuers, the proposed regulatory system will also have corresponding transitional arrangements.

Data: Spain’s National Fan Token (SNFT) plunged 20% after winning the European Cup

According to Coindesk, Spain’s National Fan Token (SNFT) plunged 20% in the past 24 hours , the current price is $0.024, and the total market capitalization is $565,000.

Although Spain defeated England in the Euro 2024 final to win its fourth European title, the SNFT token experienced a “Sell the Fact” effect. By comparison, Paris Saint-Germain and Barcelona saw fan token prices rise between 2% and 4%.

It is reported that the SNFT token was launched in 2021 by the Royal Spanish Football Federation in partnership with Turkish blockchain platform Bitci, aiming to enhance fan interaction and provide sports fans and investors with a privileged experience.

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

Ethereum, Bitcoin, Solana ecological re-pledge protocol financing is booming, what protocols can be gold mined?

In April, ChainCatcher sorted out the re-staking protocol and LRT protocol on Ethereum " Capital is frequently supported, projects are airdropped in turn, and the re-staking LRT track has become the "New Holy Land for Nuggets"", which Including EigenLayer and LRT protocols based on it, such as Renzo, Ether.fi, Kelp DAO, EigenPie, YieldNest, Swell, Pendle Finance, etc.

Although expectations such as Renzo’s token issuance and EigenLayer’s airdrop have been realized, in the past three months, the market enthusiasm for the re-staking track has remained the same. “Points war + one fish to eat more” is still a craze in the crypto community. Large-scale financing in the tens of millions occurs frequently.

For example, on June 18, Renzo announced the completion of US$17 million in financing led by Galaxy Ventures and others; on June 11, the re-pledge project Symbiotic announced the completion of US$5.8 million in seed round financing, led by Paradigm and Cyber ​​Fund.

Data shows that 16.3% of all pledged ETH has participated in re-pledge by Eigenlayer, Karak_Network, etc.

Perhaps because of the opportunity to re-pledge wealth, the narrative position of the re-staking track has been spilling out recently, from the main position of Ethereum to Bitcoin, Solana and other ecosystems.

It is reported that at least 6 teams in the Solana ecosystem are building the Solana re-pledge project.

Recently, the Bitcoin ecosystem has seen two financings of over 10 million dollars. On May 30, Babylon completed a US$70 million financing led by Paradigm; on July 2, the Bitcoin re-pledge agreement Lombard completed a US$16 million seed round. round of financing, led by Polychain Capital.

SEC Detailed Explanation: Why are MATIC, MANA, CHZ, SAND and LUNA classified as securities?

Consensys’ crypto-assets have been the target of an SEC enforcement action because they were considered crypto-asset securities. These crypto assets include, but are not limited to, the following assets: AMP (AMP Token, available through MetaMask Swaps since October 2020), AXS (Axie Infinity Shards, available since November 2020), BNB (BNB Chain Ecosystem’s Native token, available since March 2021), CHZ (details below), COTI (COTI token, available since October 2020), DDX (DerivaDAO token, available since December 2020), FLOW (FLOW token, available since November 2020), HEX (HEX token, available since October 2020), LCX (LCX token, available since October 2020), MANA (see details below ), MATIC (see details below), NEXO (NEXO platform token, available since October 2020), OMG (OMG Network token, available since October 2020), POWR (Powerledger token, available since 2020 Available since October), SAND (see details below), LUNA (see details below), RLY (Rally token, available since October 2020), XYO (XYO token, available since October 2020).

Here are details (a non-exhaustive list) of some of the cryptoasset securities that Consensys trades for investor accounts through its MetaMask Swaps platform.

Since the initial issuance or sale, every cryptoasset security is issued and sold as an investment contract and is therefore considered a security. For each cryptoasset security, statements by the issuers and promoters that investors reasonably expect to receive profits from the management or entrepreneurial efforts of such issuers and promoters (and related third parties). This reasonable expectation exists whether investors acquire these cryptoasset securities through an initial offering, from prior investors, or through a cryptoasset brokerage platform, including the MetaMask Swaps platform.

The general status quo of the venture capital market: competition is fierce and returns are concentrated in specific areas

What is the current status of the venture capital industry? If you ask a venture capitalist what they think of the current market, you’ll likely hear three consistent statements:

A) The market is too crowded

B) Competition is extremely fierce

C) The rewards are concentrated at the top.

This is an interesting and consistent comment, especially given the critical role that venture capitalists play in the startup ecosystem. So, is venture capital a dying asset class? of course not. But does it face structural challenges? no doubt.

Let’s explore the reasons from a macro perspective.

"German address" sell-off ended and the market recovered. Will Trump's assassination bring dramatic changes to the market?

Today, the price of Bitcoin rose steadily, once exceeding US$63,000, and ETH also exceeded US$3,300. Altcoins also followed the broader market and rose. In the past 24 hours, short orders reached US$90 million.

A major negative hanging over the market has finally been erased: On July 13, the balance of Bitcoin addresses seized by the German government showed that the sell-off may have ended. At this point, the large sell-off in mid-June has come to an end. You know, the selling pressure brought by these 50,000 BTC caused BTC to fall from a minimum of $65,000 to around $53,500. Panic spread in the market, setting a new annual low and crashing the altcoin market.

And Trump, who had just escaped from an assassination attempt, became popular all over the world for his photos of him cheering. After the incident, Trump’s election victory rate on the prediction market platform Polymarket has soared to 71%, setting a recent high and far exceeding current President Biden’s 18%. Based on his series of statements during this election cycle, if Trump ultimately wins the election, it will undoubtedly be a great benefit for the cryptocurrency market.

Dialogue with He Yi: Binance has become the "scapegoat" for the bleak market? Let time verify everything

On July 14, 2024, Binance will celebrate its 7th anniversary.

Looking back at the entire development history of cryptocurrency, Binance cannot be separated. As co-founder He Yi often says, "We are not starting a business, we are making history."

Whether you like it Or you don’t like Binance, You have to admit that Binance has shaped the history of the crypto industry to a certain extent in 7 years.

In 2017, in the Wild West of cryptocurrency, Binance was born. In just 6 months, the number of users exceeded 6 million, becoming the world’s number one crypto trading platform by trading volume, and CZ became the On the cover of Forbes magazine, He Yi became the only "first sister" in the encryption industry.

In 2019, the crypto market experienced a bear market trough, with both project developers and retail investors severely lacking confidence. During the downturn, Binance launched Launchpad (IEO), and the first phase of the project raised 7 million in less than 15 minutes The U.S. dollar rose more than 10 times after the opening, bringing hope of recovery to the sluggish market at the time. Subsequently, various exchanges followed suit, and the crypto market gradually regained its vitality.

As of July 2024, the cumulative return on investment of all Binance Launchpad projects is still 16 times, unparalleled, with the highest ROI in history being nearly 200 times!

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