Headlines
Coinbase denies customer data leakage, Au10tix employee credentials leakage raises security concerns
Cryptocurrency exchange Coinbase today denied that its customer data has suffered any leakage, in response to the employee credential leakage incident at compliance platform Au10tix. Au10tix stated that although credentials had been leaked, there is currently no evidence to show that the data has been misused. Reports indicate that these credentials may allow hackers to access sensitive information of users, such as names, birthdates, and driver’s license images. Au10tix has removed the relevant credentials and strengthened security measures to prevent similar incidents from happening again. Coinbase has not confirmed whether it uses Au10tix to store customer data, but insists that no data leakage has been found so far.
Wintermute founder: Approval for SOL ETF is unlikely this year
Wintermute founder and CEO Evgeny Gaevoy stated on X platform that the likelihood of approval for SOL ETF this year is almost zero (it is foolish to assume that this will be a priority for the Trump administration), Wintermute is a long-term supporter of SOL and ETH, but should not exaggerate, be realistic, and cryptocurrency adoption takes time. Once you really see the flow of funds into ETH ETF, you will understand that even if SOL ETF is approved, the inflow of funds will be less.
Previously, asset management firm VanEck submitted the first Solana ETF application in the United States.
Market
As of the time of writing, according to Coingecko data:
BTC recent trading price $61567.68, 24h change +1.3%;
ETH recent trading price $3443.92, 24h change +2.2%;
BNB recent trading price $580.53, 24h change +1.4%;
SOL recent trading price $149.45, 24h change +9.3%;
DOGE recent trading price $0.127, 24h change +3.5%;
XPR recent trading price $0.4748, 24h change +1.2%.
Policy
Innovative Crypto Committee UK Head: UK needs to act quickly to regulate crypto companies
The Labour Party, expected to win the upcoming election, has not taken a clear position on digital assets. Laura Navaratnam, policy head of the Innovative Crypto Committee UK, stated that the new government needs to take action quickly to ensure that the UK’s leadership position in global crypto innovation is not weakened. Over the past 15 years, the Conservative government has supported the steady growth of the UK’s crypto ecosystem. Former Treasury Economic Secretary John Glen and his successors Andrew Griffith and Bim Afolami have promised to make the UK a global center for crypto asset technology. Navaratnam suggested that the new government focus on stablecoin regulation, clarity on staking regulation, and financial promotion guidance. In addition, she warned that if the new government does not act quickly, the UK will lose its global leadership position in innovation.
Dragonfly Capital partner: US SEC has clearly stated that SOL is a security and will not back down from this decision
Dragonfly Capital partner Hasseb Qureshi stated that the approval of SOL ETF is unlikely to happen. He believes that VanEck’s submission of the SOL ETF application may just be “buying goodwill” to lay the foundation for the development of similar products, as the US Securities and Exchange Commission has clearly stated that SOL is a security, and regulatory agencies will not back down from this decision.
Joe Biden’s campaign team hires Coinbase advisory committee member as 2024 election advisor
Joe Biden’s campaign team has hired Keisha Lance Bottoms as a senior advisor for the 2024 election. Lance Bottoms served as the mayor of Atlanta from 2018 to 2022 and joined the Coinbase advisory committee in April 2024, after resigning from her White House advisory position in 2023. The Hill reported on June 27th that Lance Bottoms will continue to work at Coinbase during President Biden’s campaign, which is expected to end when American voters cast their ballots in November. The former mayor stated that cryptocurrency is a “non-political, unifying issue.” It is currently unclear whether Lance Bottoms will provide advice to Joe Biden’s campaign team on cryptocurrency-related issues.
According to The Hill, Lance Bottoms previously said at the Stand With Crypto Atlanta event, “Cryptocurrency provides an opportunity to strengthen financial freedom for communities that typically do not have bank accounts or have insufficient bank accounts.”
Bolivia lifts ban on Bitcoin and crypto payments
Bolivia has lifted the ban on Bitcoin and crypto payments, officially legalizing them for financial entities.
Paradigm urges European regulators to handle MEV issues delicately
Paradigm has submitted opinions to the European Securities and Markets Authority (ESMA) on preventing abuse in the cryptocurrency market. They pointed out that ESMA should avoid misapplying the concept of maximum extractable value (MEV) from traditional financial markets to the underlying blockchain layer to avoid inconsistency and unintended consequences. Paradigm is calling for ESMA to have a deeper understanding of MEV and to support innovative tools to address potential abuse risks.
Blockchain Applications
Viewpoint: Ethereum L2 ecosystem’s transaction throughput to surpass Solana by 100 times in 5 years
Analyst Ryan Berckmans stated that despite the bearish market, the Ethereum Layer 2 expansion ecosystem is growing rapidly. Berckmans pointed out that L2 protocols and EVM extension platforms are rapidly gaining popularity, with Coinbase, Worldcoin, and Immutable X all launching EVM L2. He predicts that within the next five years, the transaction throughput of L2 will surpass Solana by 100 times. Currently, the total locked value of all L2 protocols is $42.86 billion, and this figure has remained stable since March despite the downturn in the crypto market.
Cardano integrates IBC protocol to enhance connectivity and join the cross-chain ecosystem
The Cardano Foundation announced the integration of the Inter-Blockchain Communication (IBC) protocol to achieve reliable transactions and data exchange across different blockchain networks, enhancing connectivity and joining the cross-chain ecosystem. By introducing IBC features to Cardano, projects seeking to establish bridges between the Cardano network and Cosmos SDK-based sidechains may use this solution. In addition to joining the cross-chain ecosystem, the implementation of IBC for Cardano also provides another option for connecting side chains based on the Ethereum Virtual Machine (EVM) to Cardano. This will allow developers to seamlessly deploy decentralized applications (DApps) based on EVM on Cardano sidechains.
S&P Global Ratings joins Singapore’s “Guardians” program to drive digitization of financial markets
S&P Global Ratings announced its participation in Singapore’s “Guardians” program, which aims to explore tokenization on public blockchains. Led by the Monetary Authority of Singapore (MAS), the program brings together 18 financial institutions and regulatory bodies. S&P will focus on developing a digital asset analysis framework and assessment for the fixed income sector. Several financial institutions are conducting experiments related to fixed income, reflecting the push towards digital transformation in the financial market.
Decentralized cross-chain oracle network developer AnchorZero completes $8 million seed round financing
Decentralized oracle network developer AnchorZero announced the completion of an $8 million seed round financing, with lead investments from Bain Capital Crypto and Spark Capital, and participation from Ethereal Ventures, Robot Ventures, Mischief Fund, Pascal Capital, and Sarah Meyohas. The specific valuation information has not been disclosed. AnchorZero is a blockchain technology company specializing in developing decentralized cross-chain oracle networks, providing secure and reliable price data services for smart contracts, allowing access to external data for smart contracts across multiple platforms. In addition, they also provide Web3 tax planning solutions.
Cryptocurrency
Coinbase and Stripe establish partnership to expand global cryptocurrency adoption
Stripe and Coinbase announced a partnership to increase on-chain adoption and provide faster, cheaper financial infrastructure. Stripe will add support for Base in its suite of crypto products, providing users with faster and cheaper remittance services, while Coinbase will add Stripe’s fiat-to-crypto gateway to Coinbase Wallet, allowing users to instantly purchase cryptocurrencies using credit cards and Apple Pay.
Proposed Bitcoin and Gold combined ETF set to launch on September 9th
A proposed exchange-traded fund (ETF) submitted a prospectus on Thursday, aiming to provide traders and investors with the opportunity to invest in Bitcoin and gold without purchasing any of the assets. The STKD Bitcoin&Gold ETF, jointly launched by Tidal Investments and Quantify Chaos Advisors, is designed to simultaneously offer investment exposure to both Bitcoin and gold price performance through Bitcoin futures and ETFs, as well as gold futures and ETFs. According to the prospectus, the strategy is based on the concept that combining Bitcoin and gold strategies could bring complementary benefits. It aims to reduce the impact of short-term market volatility on overall investment results, potentially providing a more stable investment trajectory. The effective date specified for this ETF is September 9, 2024, but does not include a stock code or any related fees.
BlackRock’s IBIT position unchanged for two consecutive trading days
Official data from BlackRock’s spot Bitcoin ETF shows that as of June 26, the market value of IBIT reached $18,584,300,966.09, with a holding volume of 305,612.3283 BTC, unchanged for two consecutive trading days.
BlackRock: Investors use Bitcoin to hedge against geopolitical uncertainty
According to Bitcoin Archive, BlackRock stated on the X platform that Bitcoin is an “emerging asset” that investors use to hedge against geopolitical uncertainty.
Bloomberg ETF analyst: T-Rex has applied for a 2x Microstrategy stock MSTR ETF
Bloomberg analyst Eric Balchunas stated on the X platform that T-Rex has just applied for a 2x Microstrategy stock MSTR ETF, which is almost certain to become the most volatile ETF in the history of the United States, with volatility likely to be about 20 times that of SPX.
21Shares submits 8-A12B filing for its spot Ethereum ETF
ETF analyst Henry Jim stated that 21Shares has submitted an 8-A12B filing for its spot Ethereum ETF.
SOL falls below $150
Market data shows that SOL has fallen below $150, currently trading at $149.99, with a 9.36% increase within 24 hours, indicating significant market volatility. Please exercise caution and manage risks.
GBTC saw a net outflow of $11.4 million yesterday
According to Farside Investors monitoring, data from the US spot Bitcoin ETF yesterday (June 26) showed a net outflow of $11.4 million for GBTC; BITB saw a net inflow of $8 million.
Important Economic Dynamics
CME: 89.7% probability that the Fed will maintain interest rates in August
According to CME “Fed Watch”: the probability of the Fed maintaining interest rates in August is 89.7%, with a 10.3% probability of a 25 basis point rate cut. The probability of the Fed maintaining interest rates until September is 35.9%, with a cumulative 57.9% probability of a 25 basis point rate cut, and a 6.2% probability of a cumulative 50 basis point rate cut.
US stock market’s three major indices collectively rose, with mixed gains and losses for popular tech stocks
The three major US indices collectively rose, with the Dow up 0.09%, the Nasdaq up 0.3%, and the S&P 500 up 0.09%. Popular tech stocks had mixed gains and losses, with Amazon rising by over 2% and Nvidia falling by nearly 2%. Computer hardware, solar energy, and software applications led the gains, with US software rising by over 8%, AMD rising by over 7%, Ansys rising by over 6%, and Cepheid, Sunrun rising by over 4%.
International Monetary Fund: The Fed should not lower policy rates until at least the end of 2024
The International Monetary Fund expects the US PCE inflation rate to return to the 2% target level by mid-2025, and the Fed should not lower policy rates until at least the end of 2024.
Encyclopedia
What is an Infinite Coin Minting Attack?
An infinite coin minting attack refers to an attacker manipulating contract code to continuously mint new tokens beyond the authorized supply limit. Malicious actors may profit from such attacks by selling illegally created tokens or disrupting the normal operation of affected blockchain networks. The prevalence of infinite coin minting attacks highlights the importance of thorough code auditing and incorporating security measures into smart contract development to prevent such vulnerabilities.
Disclaimer: As a blockchain information platform, the content of the articles published is for information reference only and should not be taken as actual investment advice. Please establish the correct investment concept and be sure to increase risk awareness.
