Planet Daily | Vitaliks ETH holdings are worth more than $800 million; Justin Sun plans to increase TRONs annual revenue
Headlines
Arkham: Vitaliks total ETH holdings are worth more than $800 million
Arkham officially announced on X that the team had written a report on the personal wealth tracking of Ethereum co-founder Vitalik Buterin at the beginning of the year. At that time, the total value of Vitaliks ETH holdings was about US$500 million. With the rise of ETH, the total value of his ETH holdings has now exceeded US$800 million.
Justin Sun: This year’s goal is to achieve $1 billion in TRON protocol revenue
Justin Sun, founder of TRON and member of Huobi HTX Global Advisory Committee, posted on the X platform that he would set a goal this year to increase TRONs protocol revenue to US$1 billion.
According to a source at one of the issuers, the SEC has returned the S-1 form to the potential Ethereum spot ETF issuer with a few comments. The issuer was asked to address these comments and resubmit by July 8. This means that at least one more round of filings is required before the ETF can finally start trading.
Bloomberg analysts: Ethereum spot ETF approval is expected to be delayed until after July 8
Bloomberg ETF analyst Eric Balchunas wrote on X that he expects the approval of the Ethereum spot ETF to be postponed until after the holiday. It seems that the SEC took extra time this week to respond to major ETF issuers (although only made minor adjustments). According to the information currently known, everything needs to wait until the end of the holiday on July 8, the approval process will resume, and it will be approved for launch shortly thereafter.
JPMorgan Chase: Trumps election will lead to a surge in US inflation, and the market is not ready
JPMorgan analysts say another Donald Trump presidency appears to be a path toward inflation that markets may not be ready for.
“Markets appear to have yet to price in the risk premium on the inflationary impact of the Trump campaign’s main policies,” JPMorgan analysts said in a note to clients.
JPMorgan Chase listed statements from the Trump campaign, which proposed the following policy goals: plans to extend the 2017 tax cuts, severely restrict immigration through a program to deport illegal immigrants, and impose tariffs on imported goods. The report believes that these measures may lead to inflation.
Analysts pointed out that Trump also plans to replace Federal Reserve Chairman Jerome Powell after his term ends and is talking about amending the law to reduce the Feds independence. But at the same time, they added that even if Republicans control both the House and the Senate, amending the Federal Reserve Act to weaken the Feds independence seems unlikely to gain sufficient support in Congress.
The report, released ahead of the presidential debate, concluded that Trumps policies, taken together, are likely to imply significant upside risks to inflation, inflation expectations, and U.S. Treasury issuance.
Market News: 21 Shares has filed S-1 filing for SOLANA ETF
According to market news, 21 Shares has submitted the S-1 application for the SOLANA ETF.
Industry News
Manuel Stotz, founder and CEO of Kingsway Capital, revealed that the largest token held by Kingsway Capital to date is TON, and it began purchasing TON more than two years ago.
Not only that, many investment institutions are also optimistic about TON. Ryze Labs (formerly Sino Global Capital) has also invested heavily in TON tokens. Its founding and managing partner Matthew Graham said that Ryze Labs has always been a big buyer of TON; in addition, Yat Siu of Animoca Brands said that he had previously purchased the token when the price of TON was less than $1, and then continued to purchase it at $1, $1.5 and $2; Will Nuelle, general partner of Galaxy Ventures, also expressed long-term bullish sentiment on TON tokens, saying that it has the potential to facilitate payments between a large user base and future financial applications through the Telegram application.
Christian 2022.eth denies buying CRV from Curve founder and dumping it
In response to the previous on-chain analyst pointing out that it bought $400,000 of CRV from the founder of Curve and sold it at a discount the next day, NextGen Digital Venture partner Chrisian 2022.eth posted on the X platform: The 400,000 Us were not used to buy CRV, but to buy locked CVX; the CRV received was purchased before; there was no discount, and it was impossible to sell so much. The decline was caused by other whales transferring tens of millions into the exchange, and the transfer into the exchange was to repay the collateral.
According to previous news, according to X platform user @maid_crypto, on-chain analysts pointed out that the suspected @Christianeth address purchased CRV worth 400,000 USDT from the founder of Curve at an over-the-counter price of 0.107 USDT on June 21, and sold all of it at a price of 0.333 USDT the next day, causing the CRV market to fall by 5%. On June 28, it received the same amount of CRV from the founder of Curve again.
The previous online rumor that ZKsync’s average daily transaction volume was only over 100 was false information, referring to the ZKsync cross-chain bridge, not the ZKsync network. According to the official data panel of Matter Labs, the daily transaction volume of the ZKsync Era network is 360,000.
Project News
ether.fi posted on social media that the new proposal of ether.fi Foundation was successfully passed. We will allocate 25,000,000 ETHFI tokens for the third quarter.
Jupiter Lianchuang: The PPP Meme Coin experiment has ended and the analysis process has started
Jupiter co-founder Meow posted on the X platform that the PPP Meme coin experiment has ended and the analysis process has begun, which may take quite a long time because there are too many responses and it is necessary to figure out which ones are robots/users/real CT contributors. The complexity of the analysis that can be performed at present will depend on the various limitations I face when using the Twitter API, so if there are considerable limitations and I end up with quite a lot of false positives/negatives, I apologize to the community in advance. In addition, Meow also revealed that the first project will be announced soon.
In the research report released by Folius Ventures, the potential of Telegram and Catizen projects was analyzed, and Catizen has the potential to become a gaming platform on Telegram similar to Steam or Animoca to realize traffic monetization. At the same time, the report also pointed out the areas that need to be improved in the TON ecosystem, such as Telegrams HTML 5 infrastructure, advertising positioning and application center distribution.
Farcaster Launches In-App USDC Payments for Warpcast
Farcaster co-founder Dan Romero announced the launch of a new in-app payment feature at X. Built for the Farcaster client Warpcast, this feature allows users to pay others with USDC, without having to look up or remember addresses, with almost instant confirmation and zero fees.
Romero added that the feature will initially only support the Base chain, and support for other chains may be added later.
Blast posted on the X platform that it has received a lot of questions about the second phase plan, how users and teams can participate, and how it works in general. In response, Blast said that there will still be points and gold points in the second phase, but based on the lessons learned from the first phase, the distribution mechanism will be different, and the details will be released next week.
Regulatory trends
The U.S. Internal Revenue Service has determined new rules for taxing cryptocurrencies. Starting in 2026, crypto platforms will have to report transactions to the IRS, but decentralized platforms that do not hold assets themselves will be exempted.
These are the main contents of the new rules finalized by the IRS and the U.S. Treasury Department on Friday1, which essentially implements a provision in the Infrastructure Investment and Jobs Act passed by the Biden administration in 2021.
Even without these new rules, cryptocurrency holders will need to pay taxes; however, there is no real standardization on how to report these holdings to the government and individual investors. Starting in 2026 (covering transactions in 2025), cryptocurrency platforms must provide a standard 1099 form, similar to the forms sent by banks and traditional brokerage firms. In addition to simplifying the tax process for cryptocurrencies, the IRS has also stated that it is working to combat tax evasion.
Hong Kong Financial Services License Allows Cryptocurrency and STO Trading
Lu Tingkuang, co-founder and chief strategy officer of HKbitEX, believes that Hong Kongs cryptocurrency licensing system is more convenient than places like Singapore and the United States. According to Lu Tingkuang, Hong Kongs crypto asset license allows holders to provide trading services for cryptocurrencies and security tokens (STOs).
At the same time, the fintech expert stressed that regulators in other countries offer licenses for only one asset class, rather than for both. As an example, he cited the US-listed Coinbase, whose license allows trading only crypto assets.
Character Voice
OKX CEO Star said on social media: For deposits or withdrawals that trigger suspicious transaction monitoring, OKXs inquiry into the source of funds is a common compliance control practice, which is an obligation that financial institutions must fulfill under the anti-money laundering laws and regulations of countries around the world.
Vitalik Buterin said in response to a user on the Warpcast platform that the current regulatory work has basically forced honest cryptocurrency developers into a corner. The main challenge of cryptocurrency regulation (especially in the United States) has always been this phenomenon. If you do something useless, or you ask people to give you money in exchange for a vague mention of potential returns, then you are free and innocent, but if you try to clearly explain to your customers where the returns come from and promise them what rights they have, then you are finished because you are a security. The incentive gradient created by this anarchic tyranny will ultimately be worse than pure anarchy or pure tyranny.
Judging from the anarchy, social media and sharing platforms are home to a seemingly endless supply of bad actors, scammers and unfounded hype. Buterin previously proposed three proposals that he claimed could address the problem of “useless” cryptocurrency products and services, including limiting leverage, requiring audits and transparency, and controlling usage through knowledge tests.
Former SEC official: The burden of proof always lies with the SEC to prove a product is a security
In response to a recent U.S. judge dismissing the SECs allegations against Binances BNB secondary sales and Simple Earn, John Reed Stark, former director of the U.S. SECs Office of Internet Enforcement, posted on the X platform that the burden of proof is always on the SEC to prove that a product is a security.
He noted that the judge only required the SEC to prove that people who bought Binance products were investors who bought Binance products because they hoped for price increases, rather than customers who bought Binance products because the products provided some kind of utility (such as trading discounts). According to the judge, if a digital asset security is somehow transformed into a utility rather than an investment speculation tool, then it is no longer a security. It is worth noting that the judge explicitly rejected the puzzling finding in the Ripple ruling that some kind of contractual relationship must exist between investors and issuers in the secondary market to trigger the registration requirement, a conclusion that has never been adopted or even cited in any form by other district courts. Considering Binances main business line, I dont think this decision is any good for Binance, any positive impact on the digital asset industry, or any good for digital asset investors.
This article is sourced from the internet: Planet Daily | Vitaliks ETH holdings are worth more than $800 million; Justin Sun plans to increase TRONs annual revenue to $1 billion (July 1))
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