Planet Daily | Multiple Mt.Gox-linked wallets conduct small transfer tests; Blast community plans to launch a new propos
Headlines
Arkham: Multiple Mt.Gox-linked wallets tested for small transfers, involving Bitbank hot wallets
In the hours before the $9 billion worth of Bitcoin was due to be repaid, multiple Mt. Gox wallets were involved in small transfer tests. According to Arkham Intelligence, the transactions involved three wallets associated with Mt. Gox. The largest transaction was for $24 worth of Bitcoin.
When the last large-scale transfer of Mt. Gox funds took place, they were primarily consolidated into three wallets. When this happened, one wallet that was used as an intermediary had $24 left.
According to the Arkham tag, this small amount of Bitcoin was forwarded to a wallet in the past few hours, which then sent the funds to Bitbank’s hot wallet. The rest of the Bitcoin was sent to a new wallet.
Bitbank is one of the exchanges that supports Mt.Gox payments. These payments will not be paid directly to Bitcoin holders, but rather a trustee will send the funds to five exchanges, namely Kraken, Bitstamp, SBI VC Trade, Bitbank and Bitgo. These exchanges all stated that once they receive the funds, they will distribute the funds to customers within different periods of up to 90 days. (The Block)
The Blast community plans to launch a new proposal (BLIP-Research and Discussion), which requires that all fee income earned by the Blast Foundation Treasury (such as gas fee income, etc.) be distributed to BLAST token holders on a weekly basis. The program aims to reward BLAST token holders, increase the value of holding BLAST in the ecosystem, and provide a competitive advantage over ETH and USDB native returns, improve user retention, and make the network more attractive.
It is reported that the proposal requires determining the percentage of fees allocated weekly, while ensuring sufficient funds to meet financial operational needs, and developing a smart contract mechanism to handle the distribution of fees to BLAST holders, including the need to regularly take snapshots of BLAST holdings and distribute the collected fees proportionally.
The total value of El Salvadors Bitcoin holdings fell to $330 million, a drop of nearly 20%
According to information on El Salvadors official page, El Salvador is still adhering to its plan of purchasing one bitcoin every day. It currently holds 5,800.76 bitcoins, and the value of its holdings has fallen to US$330 million, a drop of 19.51% from its high of US$410 million on May 21.
friend.tech: We have heard the community feedback and FRIEND will not move out of Base
friend.tech posted on the X platform that they have heard the communitys feedback that FRIEND does not want to be migrated to other chains, and we agree with this. FRIEND has always wanted to be a token that is 100% controlled by the community, and the migration of token supply and liquidity is not in line with this spirit. Next, users can still create clubs, chat, buy keys and use FRIEND through the friend.tech app on Base.
In addition, friend.tech has closed all protocol fees from BunnySwap, Clubs, and v1 smart contracts. Now, 100% of the fees will go to traders, liquidity providers, and Club presidents.
Industry News
Solana Foundation to Provide $400K in Grants to Projects Building on Action and Blinks
According to SolanaFloor, the Solana Foundation will provide $400,000 in funding for projects built on Action and Blinks.
According to CryptoQuant data, about $2.4 billion worth of Bitcoin with a holding period of 3-6 months was transferred during this decline. Analyst Cauê Oliveira pointed out that this represents the selling pressure of some entities that bought at the beginning of the year. It may be that speculators targeting Bitcoin ETFs and halving expectations are being cleaned up.
On the other hand, entities older than a year have yet to adopt a more significant selling pattern, suggesting that true long-term holders are still holding onto Bitcoin.
DWF Labs Launches $20 Million Crypto-Native Fund Cloudbreak
According to official news, DWF Labs launched Cloudbreak, a $20 million crypto-native fund, which is dedicated to providing funding and international strategic resource support for innovative and competitive high-quality Chinese projects.
DWF Labs said: If you are involved in building projects in the following directions: GameFi, SocialFi, Meme, AI, derivatives or L1/L2 infrastructure, etc., please contact us.
Project News
Arbitrum RWA Development Plan nominates six projects to be allocated 35 million ARB
Snapshot shows that the Arbitrum RWA development plan nominates six projects and plans to allocate 35 million ARB to them, namely Securitize BUIDL 56 (11 million), Ondo USDY 22 (6 million), Superstate USTB 24 (6 million), Mountain USDM 15 (4 million), OpenEden TBill 15 (4 million) and Backed Finance bIB 01 17 (4 million).
It is reported that the plan was proposed in April 23 and aims to achieve 1% financial diversification of Arbitrum each year through the growth of the RWA ecosystem.
The current proposal opposition rate is as high as 76.8% and will end on July 11.
On-chain analyst @ai_9684 xtpa released an update on X. According to user feedback, the address that previously received 70 million GMT belongs to the Binance pGMT liquidity pool.
The large amount of circulation occurred because of the Alpha Draw staking lottery initiated by STEPNGO. Currently, 28,481,615 GMT have been locked on the chain, and the GMT for the lottery will be unlocked in 4 years (April 19, 2028).
Investment and Financing
OKX Ventures announces investment in AI+RWA project Compute Labs
OKX Ventures announced an investment in the AI+RWA project Compute Labs. Compute Labs was incubated by the NVIDIA Inception VC Alliance and provides investors with AI computing power returns by developing the enterprise-level AI computing power tokenization protocol Compute Tokenization Protocol (CTP) and GPU Restaking solutions.
It is reported that Compute Labs will use this fund to expand the core team and advance the development and market promotion of the AI computing power tokenization protocol CTP. The AI computing power tokenization protocol CTP is now available on the Solana test network, and the main network is expected to be launched in Q3.
Regulatory trends
U.S. CFTC Chairman to be sole witness at Senate hearing on digital commodity regulation next week
According to official news, the U.S. Senate Agriculture, Nutrition, and Forestry Committee announced that it plans to hold a digital commodity regulation hearing next Wednesday, July 10. Rostin Behnam, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), will attend the hearing as the only witness. It is reported that this may be a general encryption hearing.
Character Voice
Regarding the new round of market declines, Richard Galvin, co-founder of hedge fund Digital Asset Capital Management, said: One factor is that a stronger Democratic candidate may replace Biden, and he may not support cryptocurrency. In the short term, a bigger reason for Bitcoins weakness is the selling pressure from Mt. Gox and the selling behavior of government addresses.
Additionally, Noelle Acheson, author of Crypto Is Macro Now, noted: “Bitcoin continues to struggle with selling pressure from miners.”
However, sentiment in the cryptocurrency market could quickly shift if weak U.S. economic data spurs bets on the Federal Reserve easing monetary policy, and the approval of an Ethereum spot ETF could also boost market sentiment.
Interpretations of U.S. political developments could also change. Matt Hougan, chief investment officer at Bitwise Asset Management, believes a potential change in Democratic candidates is more likely to be in a better position to address crypto issues. He said the governments overall attitude toward digital assets has improved over the past year. (Bloomberg)
Wintermute founder: Market will recover in August and September
Evgeny Gaevoy, founder and CEO of Wintermute, said in a post on X: Hold on, the current market is just a seasonal phenomenon in the summer. The market will recover in August and September, before the US election.
STIX founder: The reasonable valuation of ENA in the locked state should be discounted by 70%
Taran YuX, the founder of the over-the-counter trading platform STIX, said in a post that since ENA went online, OTC sellers (investors) have contacted us, wanting to sell locked ENA at a valuation of 2 billion to 3 billion US dollars (ENAs FDV was as high as 20 billion US dollars at the time). The reasonable selling price of locked ENA should now be a valuation of 1.5 billion to 2 billion US dollars (about 70% discount).
Justin Sun: Willing to negotiate with the German government to purchase all its BTC off-market
Justin Sun posted on the X platform that he was willing to negotiate with the German government to purchase all of its BTC off-market to minimize the impact on the market.
Mitsubishi UFJ Financial Group said in a report that the dollar looks set to fall next year as recent weaker U.S. economic data could strengthen market expectations for Federal Reserve rate cuts. Noting Wednesdays weaker-than-expected ISM services report and ADP private payrolls data showing slowing job growth, Lee Hardman, an analyst at the bank, said: Overall, these developments give us more confidence that U.S. inflation and growth will continue to slow, which will encourage U.S. interest rate markets to price in more Fed rate cuts over the coming year. He said this is a key assumption in the banks expectation of a weaker dollar. (Jinshi)
This article is sourced from the internet: Planet Daily | Multiple Mt.Gox-linked wallets conduct small transfer tests; Blast community plans to launch a new proposal to distribute income to BLAST holders every week (July 5)
Original author: Chloe, PANews Bitcoin mining company Bitfarms announced on June 10 that it has approved a shareholder rights plan, also known as a poison pill, to prevent acquisitions by peer and competitor Riot Platforms. According to the statement, this equity dilution anti-takeover measure is a defensive measure taken by the company against active acquisitions, aimed at reducing the companys attractiveness or diluting the acquirers ownership of the acquisition target. Bitfarms said the plan, which has been approved by the board of directors, is designed to prevent the company from being acquired by a hostile takeover bid at a low price during a critical strategic review period in order to safeguard the fundamental interests of the review process itself and the majority of shareholders. Bitfarms poison pill plan states that…
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