PA Daily | Ripple CEO says the years-long lawsuit with the SEC is expected to end “soon”; U.S. Bitcoin ETF purchases so far this month are 41,158

Today’s news alert:

1. Ripple CEO: The years-long lawsuit with the SEC is expected to be resolved “soon”

2. JPMorgan Chase: The cryptocurrency rally is unlikely to last if Trump becomes president Will benefit Bitcoin and gold

3. Aptos node v1.16.3 version has been updated

4. A whale transferred 1,067,930 SNX to Binance about 4 hours ago to sell, with an expected loss of US$300,000

5. Ethereum The MEME currency FEAR NOT on the chain rose by more than 460% during the day, reaching a record high

6. A BTC band whale withdrew 213.8 BTC from Binance 7 hours ago, worth approximately US$14.48 million

7. Meta’s AR/VR/ Metaverse team Reality Labs budget has been cut by about 20%

8. Animoca launches proposal to launch $10 million new fund ApeCoin Ventures in cooperation with ApeCoin

Regulatory news

Ripple CEO: Years of litigation with the SEC expected" Soon” to be resolved

According to a recent interview with Bloomberg, Ripple CEO Brad Garlinghouse expects the company to resolve its years-long lawsuit with the U.S. Securities and Exchange Commission (SEC) “soon.” The price of XRP has risen in recent weeks amid speculation that a settlement could be announced after the U.S. SEC holds a closed-door meeting next week. The XRP ledger has also seen its highest level of activity and new address creation since March, according to data from analytics firm Santiment.

Trump: I like Musk very much, he is a great and smart man

Trump mentioned Musk during his speech at a campaign rally in Michigan, he said, "I like Elon... Musk; I was watching TV three years ago and saw this rocket land, no wings, nothing; it landed on a barge in the middle of the ocean; I had never seen that before, if that was the government. It will be 50-100 years before we see this. Musk is a smart guy and we need to make smart people’s lives easier.”

Two members of the Lockbit ransomware group have pleaded guilty and may face separate charges. Up to 25 and 45 years in prison

The U.S. Department of Justice (DOJ) revealed that two foreign nationals pleaded guilty in Newark federal court to participating in the Lockbit ransomware organization. Ruslan Magomedovich Astamirov, a Russian citizen, and Mikhail Vasiliev, a dual Canadian-Russian citizen, were identified as members of the Lockbit organization. The group has been active since January 2020 and has targeted more than 2,500 victims in 120 countries, extorting approximately $500 million in ransom. Their victims include hospitals, educational institutions and commercial enterprises. Astamirov and Vasiliev used Lockbit ransomware to encrypt and steal data, demanding ransom and threatening to release the information if their demands were not met. They were arrested in 2023 and 2022 and could face up to 25 and 45 years in prison respectively.

Previously, US authorities filed a lawsuit against the leader of the ransomware organization LockBit and offered a reward of US$10 million for the hunt.

AI

The budget of Meta’s AR/VR/Metaverse team Reality Labs has been cut by about 20%

According to a report by Cointelegraph citing The Information, Meta will be responsible for developing the company’s Metaverse hardware from now until 2026 and software unit Reality Labs saw its budget cut by about 20%. Since Reality Labs' financials were disclosed in public filings in the fourth quarter of 2020, Meta has spent more than $50 billion on the unit. If you consider total spending since the Oculus acquisition in 2014, that number could be closer to $100 billion.

More than 50% of Reality Labs’ expenditures are spent on the research and development of AR glasses, a product line that Meta has not yet launched. The rest of the spending went toward the Quest headset and Horizon software platform, two technologies that are still in their relatively early stages and far from mature.

It is reported that Reality Labs has restructured in the past year, eliminating mid- and senior-level management positions, including "more than a dozen directors and vice presidents." Meta is also moving some Reality Labs teams dedicated to AI to the company's broader generative AI team, which includes a 140-person AI voice development team.

Project News

Animoca has launched a proposal to cooperate with ApeCoin to launch a new fund of 10 million US dollars, ApeCoin Ventures

According to Snapshot information, Animoca Ventures, the venture capital arm of Animoca Brands, has launched a proposal in ApeCoin DAO to jointly establish a joint venture fund ApeCoin Ventures with ApeCoin. , plans to invest in Web3 projects in seed rounds and Series A, and will give priority to projects that can integrate ApeCoin into their ecosystem, thereby increasing the value, utility, synergy, network effect and influence of ApeCoin.

ApeCoin Ventures fund size is US$10 million, of which ApeCoin DAO needs to allocate US$5 million worth of APE (Animoca Ventures plans to sell it as legal currency), and Animoca Ventures will invest US$5 million. The proposal is currently open for voting, with a current support rate of 83.49%. Voting will end on August 1.

Aptos node v1.16.3 version has been updated

Aptos node v1.16.3 version has been updated, users need to upgrade to the latest version within the next 5 days. This update is designed to improve system stability and security and ensure smooth network operation. Includes adding a procedural macro bytecode_spec so that inline specifications of Move bytecode instructions can be defined in Rust; adding a runtime environment outside of the VM. This environment can be used for caching and may be shared between VM instances.

Bitcoin Magazine CEO: The comment of "raising $1 billion for Trump" is just a joke

Bitcoin Magazine CEO David Bailey clarified on the X platform that the comment of "raising $1 billion for Trump" is just a joke , will not raise $1 billion. Bitcoin News previously reported that David Bailey raised $1 billion for Trump at the Bitcoin 2024 conference. The report has now been deleted.

JP Morgan: Cryptocurrency rally unlikely to last, Trump as president would benefit Bitcoin and gold

JPMorgan analysts say any rebound in cryptocurrency prices is likely to be tactical (temporary and strategic) rather than the start of a lasting uptrend. They note that Bitcoin's current price of about $67,500 is high compared with its production cost of about $43,000 and the volatility-adjusted price of gold, which is about $53,000.

The divergence between Bitcoin prices and J.P. Morgan’s volatility-adjusted gold prices “suggests a mean reversion near the zero line, limiting Bitcoin prices in the long term,” JPMorgan analysts wrote in a note on Thursday. upside potential."

Analysts reiterated that cryptocurrencies are expected to rebound from August as liquidations decrease after July. They pointed to recent weakness in Bitcoin futures due to the liquidation of Gemini and Mt. Gox creditors and the sale of seized Bitcoin by the German government. Analysts say these liquidations are likely to subside after July and expect Bitcoin futures to rebound from August, in line with gold futures’ recent gains.

Analysts say: “We believe momentum traders such as Commodity Trading Advisors played a significant role in the push for gold futures. Gold’s momentum signals surged in July into overbought territory last April.”

JP Morgan Analysts say gold is poised to benefit from the possibility of Trump being re-elected as president. Analysts say some investors believe Trump will be more favorable to cryptocurrency companies and regulation than the current Biden administration. Trump's potential trade policies could lead emerging market central banks, especially China, to increase their diversification into gold, they added.

The MEME token FEAR NOT on the Ethereum chain rose by more than 460% during the day, hitting a record high

The market shows that the MEME token FEAR NOT on the Ethereum chain broke through 0.0001 US dollars and then fell back, now trading at 0.00008906 US dollars, with a 24-hour increase of 464%. A record high. The Meme coin RETARDIO on the Solana chain broke through $0.13 and is now trading at $0.134, a 24-hour increase of 24.9%, reaching a record high.

WazirX: There are imposters sending emails, please be vigilant and do not click on suspicious links

Indian crypto exchange WazirX stated on the X platform that it has noticed that there are imposters sending emails, although the team is actively monitoring and handling these fraudulent activities. But user vigilance is key. Always check the email ID carefully and avoid clicking on suspicious links.

Previously, the WazirX team plans to launch a bounty program to freeze/recover stolen assets.

Important data

A BTC band whale withdrew 213.8 BTC from Binance 7 hours ago, worth approximately US$14.48 million

According to on-chain analyst Ember monitoring, profits were made through 2 BTC band investments in the last 11 months The $31.06 million whale continued to withdraw 213.8 BTC ($14.48 million) from Binance 7 hours ago. The whale started its third round of BTC investment on July 7 and has accumulated a total of 677 BTC (US$44.63 million) in 4 days, with an average price of US$65,923.

President of The ETF Store: The US-listed spot Bitcoin ETF holds more than 900,000 Bitcoins

The ETF Store President Nate Geraci said on the X platform that currently, the US-listed spot Bitcoin ETF holds 900,000 Bitcoins coins, accounting for 4.3% of the total Bitcoin supply. Assets approximately $60 billion. Since its launch in January, net inflows have been $17 billion.

A whale transferred 1,067,930 SNX to Binance about 4 hours ago for selling, with an expected loss of US$300,000

On-chain analyst Ember monitoring, a whale transferred 1,067,930 SNX (US$2.1 million) to Binance 4 hours ago The sell-off sent the price of SNX down 7.4%. These SNX were withdrawn from Binance at an average price of $2.173 between January 31, 2023 and July 12, 2023. Today they were all transferred to Binance and sold at a price of $1.891. This SNX investment generated $300,000 ( -13%) loss.

Data: So far this month, the purchase volume of the U.S. Bitcoin ETF is 41,158 pieces

According to HODL15Capital data, the purchase volume of the U.S. Bitcoin ETF so far this month is 41,158 pieces.

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