Daily News｜Jump Crypto is suspected of being liquidated; the Democratic Party’s meeting to repair relations with the cry
Headlines
Odaily Planet Daily reported that BitMEX co-founder Arthur Hayes posted on X that he learned through news channels in the traditional financial field that a big guy was disposed of and sold all crypto assets. He added that he was not sure whether the news was true, but would not disclose the specific name.
Most of the community speculated that it refers to Jump Crypto.
Harris and other US Democrats meeting to repair relations with the crypto industry will be postponed
Odaily Planet Daily News: Forbes reporter Eleanor Terrett posted on the X platform that a meeting chaired by California Congressman Ro Khanna to help US Vice President Harris repair encryption relations will be postponed from Monday to later this week, with the specific date to be determined.
Trump: US government should not sell cryptocurrencies, but build them
Odaily Planet Daily News: When asked in an interview about the recent sale of cryptocurrencies by the US government and whether he would still support cryptocurrencies if he won the November election, Trump said that the US government should not sell cryptocurrencies but should build them.
In addition, Trump called cryptocurrency a very modern currency and compared it to artificial intelligence. He also previously said he hopes the United States will become a major Bitcoin mining country.
According to Arkham Intelligence, a wallet marked as belonging to the US government transferred $2 billion worth of Bitcoin to an unknown wallet address last week. The US government currently still holds about $11.1 billion worth of cryptocurrency. (The Block)
Markets begin pricing in unexpected early rate cut from the Fed
Odaily Planet Daily News: Traders predict that the probability of the Federal Reserve cutting interest rates by 25 basis points within a week is 60%. (Jinshi)
Industry News
F2 Pool: ASIC miners with unit power consumption of 23 W/T or higher have fallen to shutdown prices
Odaily Planet Daily News Shenyu and F2 Pool published an article on X stating that based on a BTC price of $54,000, with an electricity price of $0.07/kWh, ASIC miners with a unit power consumption of 23 W/T or higher will be in a loss-making state.
Ethereum DeFi protocol liquidation amount exceeds $350 million today, setting a historical record
Odaily Planet Daily reported that according to Parsec Finance data, the liquidation amount of Ethereum DeFi protocol exceeded 350 million US dollars, setting a record.
Since August 3, the top five market makers have transferred more than 130,000 ETH to CEX
According to Scopescan, five leading market makers have transferred more than 130,000 ETH directly or indirectly to CEX since August 3. Among them:
Wintermute: 47,088 ETH directly transferred to CEX, and 51,972.19 ETH transferred to other addresses on the mainnet;
Jump Crypto: Transfer 36461.51 ETH directly to CEX and 28232.79 ETH to other addresses on the mainnet;
Flow Traders: 3,620 ETH directly transferred to CEX, and 2,325.52 ETH transferred to other addresses on the mainnet;
GSR Markets: 292.1 ETH directly transferred to CEX, and 233.63 ETH transferred to other addresses on the mainnet;
Amber Group: Directly transfer 65.47 ETH to CEX and transfer 15444.48 ETH to other addresses on the mainnet.
Jump Trading has sold 83,000 wstETH since July 24, equivalent to about $377 million
Odaily Planet Daily reported that according to Lookonchain monitoring, Jump Trading is selling 120,695 wstETH (US$481 million). Since July 24, 83,000 wstETH (US$377 million) have been sold, leaving 37,604 wstETH (US$104 million).
These 120,695 wstETH ($481 million) are the stolen funds that Jump successfully fought against the Wormhole attacker and recovered.
Odaily Planet Daily News Lookonchain monitored the US Ethereum and Bitcoin ETF data on August 5 and showed:
1. The nine US Ethereum ETFs had a total net outflow of 22,779 ETH, equivalent to US$54.94 million, of which Grayscale had an outflow of 25,045 ETH, equivalent to US$60.41 million. Grayscale currently holds 2,004,828 ETH, worth approximately US$4.84 billion.
2. The ten US Bitcoin ETFs had a total net outflow of 1,205 BTC, equivalent to approximately US$65.49 million, of which Fidelity had an outflow of 1,661 Bitcoins, equivalent to approximately US$90.26 million. Fidelity currently holds 178,088 Bitcoins, equivalent to approximately US$9.68 billion.
Odaily Planet Daily News: Binance issued a reminder on the X platform, saying that please only trust the partnership and listing information officially released by Binance, be wary of false statements, and projects that publish false listing statements will not be considered for listing in the future.
Justin Sun denies leveraged positions were liquidated
Odaily Planet Daily News Sun Yuchen said in a post on X: The rumors about our positions being liquidated are untrue. We rarely participate in leveraged trading strategies because we believe that such transactions are not of much benefit to the industry. Instead, we prefer to engage in activities that provide greater support to the industry and entrepreneurs, such as staking, running nodes, project development, liquidity supply, and providing TVL.
Market News: Elon Musk Reopens Lawsuit Against OpenAI and Its CEO Sam Altman
Odaily Planet Daily News According to market news, the New York Times revealed that Elon Musk has reopened the lawsuit against OpenAI and its CEO Sam Altman. Musk once again claimed that OpenAI puts profits and commercial interests above the public interest. (Jinshi)
Coinbase International’s perpetual futures trading volume exceeded $38 billion in July
Odaily Planet Daily News: Coinbase International Station published an article on X stating that as of the end of July, its monthly perpetual futures trading volume exceeded US$38 billion.
Bitcoin mining company Argo mined 48 BTC in July, with a mining profit margin of about 20%
Odaily Planet Daily News Bitcoin mining company Argo Blockchain PLC released its July 2024 operational update today, reporting that it has mined 48 BTC, an average of 1.5 BTC per day, consistent with June 2024. The company generated $3 million in mining revenue, with a mining profit margin of around 20%, slightly lower than last month due to the lower hash price achieved in July. (Bitcoin.com)
Project News
Binance Payment will gradually stop supporting Pay ID
Odaily Planet Daily reported that according to the official announcement, Binance Payment will gradually stop supporting Pay ID from August 6, 2024 (UTC).
Users can continue to send or receive cryptocurrencies via Binance ID, email, or phone. Binance encourages users to switch to the available Binance payment methods listed above. The decision to phase out support for Pay ID will simplify the Binance payment process to provide a better user experience.
Notice:
Affected Binance payment products include: transfer, transfer to multiple people, merchant platform single payment and merchant platform batch payment;
The historical transaction records of transferring or receiving money through Pay ID will be retained;
The Merchant Payment API (Payout API) will continue to support Pay ID until further notice. Users are advised to switch to other available options as soon as possible.
Aave founder: Aave Treasury received $6 million through liquidation
Odaily Planet Daily News: Aave founder Stani Kulechov posted on the X platform that the Aave Treasury earned $6 million in revenue overnight through decentralized liquidation in order to maintain market security.
Odaily Planet Daily News: Guy Young, founder of Ethena, said in a post on X that USDe processed more than $50 million in redemptions overnight, the largest redemption to date, without any problems. The ratio of USDe collateral assets and reserves to USDe supply has always remained above 101%.
The next monthly proof of custody was originally planned to be released at the end of the month, but in order to provide greater transparency to the community, it will be released this week.
Odaily Planet Daily News: Jupiter co-founder Meow YuX said in a post: In the next few months, we will make core improvements, launch new social experiments, products and spiritual movements, and double down on investment in teams and talents.
Not only will it make Jupiter better, it will make the entire industry better.”
Whales Market founder: GM release may be postponed again, still monitoring market conditions
Odaily Planet Daily News: Dexter, the founder of Whales Market, posted on the X platform that he has been talking with primary and secondary market CEXs over the past two days, and they all suggested not to launch this month, especially if a launchpool approach is to be adopted. The market situation is still being monitored, and if the current market trend continues, the release of GM may be postponed again.
Odaily Planet Daily News: With AI-enhanced sorter-level security and EVM-compatible ZK rollup, Zircuit officially announced that the total supply of ZRC tokens is 10,000,000,000. The first quarter airdrop arrangement:
7% of the total ZRC supply is allocated to the first quarter credits, with 262,200 unique addresses eligible to claim. The first quarter airdrop snapshot is on July 7, 2024 at 16:00:00 UTC time.
Solana on-chain mining project ORE will resume mining at 8:00 on August 6
Odaily Planet Daily News: Solana on-chain mining project ORE published a message on X saying that mining will be resumed at 8:00 on August 6, marking the final stage of the launch of ORE v2.
Bubblemaps: Insiders have sold $6.5 million of NEIRO
According to Bubblemaps, insiders have sold NEIRO worth $6.5 million. Snipers targeting NEIRO on the Ethereum chain continue to sell through hundreds of addresses used to disperse holdings, with an average daily sales volume of $500,000.
According to Bubblemaps, 78% of the supply of NEIRO tokens on Ethereum was sniped at the time of release and dispersed among 80 addresses, and then dispersed among 400 addresses, and rarely sold for more than $3,000 at a time. This address group still owns 66% of the total supply.
MATR1X destroyed 200 million MAX, accounting for 20% of the total supply
Odaily Planet Daily News MATR1X officially announced that 200 million MAX have been burned, accounting for 20% of the total supply; of which 50 million came from the team and investors, 80 million from the community, and 70 million from the platform. It is reported that MAX will start trading at 18:00 today on exchanges such as OKX, BingX, Bitget, HashKey Global, Kucoin, Gate, and Backpack.
Regulatory trends
Traders bet ECB will follow Fed in 50 basis point rate cut
Odaily Planet Daily News Money markets have increased bets on the Federal Reserve to ease monetary policy to a degree far beyond policymakers expectations. Soon after, the market also increased bets that the European Central Bank would follow the Feds lead in cutting interest rates. Traders currently believe that there is a 60% chance that the ECB will cut interest rates by 50 basis points in September, having fully digested the expectation that the Federal Reserve will cut interest rates by 50 basis points in September. At the same time, the probability of a 25 basis point rate cut by the Bank of England is rising. These bets are likely to continue, increasing safe-haven buying of bonds at a time when the market is generally fleeing risky assets. (Jinshi)
Odaily Planet Daily News: When asked about the emergency rate cut, Feds Goolsbee said that options including rate hikes and rate cuts have always been on the table. If the economy deteriorates, the Fed will take measures to fix it. The Feds degree of restraint on real interest rates is the highest in decades and will respond according to the economic situation. The Fed still maintains a balanced risk posture and must pay attention to the weakness in the job market. It should be adjusted according to the overall situation; inflation has fallen sharply and employment conditions are relatively good. Before the September meeting, the Fed can wait for more data. It is not the Feds job to react to one months employment data. (Jinshi)
U.S. senators again urge CFTC to ban presidential election betting
Odaily Planet Daily reported that five US senators and three House representatives once again called on the CFTC to ban betting on the 2024 presidential election.
In an August 5 letter to CFTC Chairman Rostin Benham, they said such a market could influence and interfere in elections and further erode public trust in democracy, urging him to quickly finalize and implement the rule to prevent the commoditization of U.S. elections.
The letter was signed by Senators Jeff Merkley, Richard Blumenthal, Chris Van Hollen, Elizabeth Warren, Sheldon Whitehouse and Representatives Jamie Raskin, John Sarbanes and Eleanor Holmes Norton. (Cointelegraph)
Odaily Planet Daily News: Japanese Finance Minister Shunichi Suzuki said he will do his best to manage the economy and finances, while cooperating with the Bank of Japan and calmly judging the current situation. He sees positive signs in wages and investment in the Japanese economy. (Jinshi)
Investment and Financing
Odaily Planet Daily News: Cartridge, a blockchain gaming infrastructure provider, has completed a $7.5 million Series A financing round, led by Bitkraft Ventures, with participation from Fabric, Dune, StarkWare, Primitive, and Ergodic. After the completion of this round of financing, Cartridge also announced the launch of Dojo 1.0, an open source development toolset and framework for building verifiable games. (VentureBeat)
Character*Voice
Vitalik: Solving cross-L2 interoperability issues will bring a smooth user experience to Ethereum
Odaily Planet Daily News Ethereum co-founder Vitalik Buterin said on the X platform that people will be surprised that the cross-L2 interoperability problem is no longer a problem so quickly, and we have a smooth user experience in the entire Ethereum world (including L1, rollups, validiums and even side chains). At the same time, we have seen a lot of energy and willingness to achieve this goal.
Odaily Planet Daily News: Péter Szilágyi, head of Geth development and a member of the Ethereum Foundation, posted on social media that he often wondered if he had chosen the wrong industry. In the article, he compared SpaceX and believed that the crypto industry was simply a casino for fools and had no contribution to humanity. Everyone wants to be the next Vitalik, but no one wants to build something useful. Everyone just wants to extract value. Only Bitcoin tried (although it failed) to become a safe-haven asset, while the others were selling shovels, and there was no sign of a gold rush at all.
Binance CEO: Falling crypto and stock prices do not portend long-term negative trend
Odaily Planet Daily News: Richard Teng, CEO of Binance, said on the X platform that the recent sharp drop in cryptocurrency and stock prices was affected by macroeconomic factors. We do not believe that this indicates a long-term negative trend.
The potential for market volatility remains high due to possible interest rate cuts by the Federal Reserve and geopolitical fluctuations.
Odaily Planet Daily News Circle co-founder and CEO Jeremy Allaire wrote on X: I am as bullish (on the crypto industry) as I was six weeks ago. Focus on technology, industry, and adoption. In the face of global macro fluctuations, dont pay attention to the price of digital commodities unless you are just trading.
Andrew Kang: ETH is not expected to continue to fall, but the overall market may fall further
Odaily Planet Daily News Mechanism Capital co-founder and partner Andrew Kang wrote on X: I will no longer bet on ETH to fall further. The overall market may continue to fall, but it is better to focus on finding future buying opportunities.
This article is sourced from the internet: Daily News｜Jump Crypto is suspected of being liquidated; the Democratic Party’s meeting to repair relations with the crypto industry will be postponed (August 6)
Related: SharkTeam: Analysis of the UwU Lend Attack
On June 10, 2024, UwU Lend was attacked and the project lost approximately US$19.3 million. SharkTeam conducted a technical analysis of the incident and summarized security precautions at the first opportunity. We hope that subsequent projects can learn from this incident and jointly build a security line of defense for the blockchain industry. 1. Analysis of attack transactions Attacker: 0x841dDf093f5188989fA1524e7B893de64B421f47 The attacker initiated a total of 3 attack transactions: Attack Transaction 1: 0x242a0fb4fde9de0dc2fd42e8db743cbc197ffa2bf6a036ba0bba303df296408b Attack Transaction 2: 0xb3f067618ce54bc26a960b660cfc28f9ea0315e2e9a1a855ede1508eb4017376 Attack Transaction 3: 0xca1bbf3b320662c89232006f1ec6624b56242850f07e0f1dadbe4f69ba0d6ac3 Take attack transaction 1 as an example for analysis: Attack contract: 0x21c58d8f816578b1193aef4683e8c64405a4312e Target contract: UwU Lend Treasury contract, including: uSUSDE: 0xf1293141fc6ab23b2a0143acc196e3429e0b67a6 uDAI: 0xb95bd0793bcc5524af358ffaae3e38c3903c7626 uUSDT: 0x24959f75d7bda1884f1ec9861f644821ce233c7d The attack process is as follows: 1. Flash loan multiple tokens from different platforms, including WETH, WBTC, sUSDe, USDe, DAI, FRAX, USDC, GHO The…
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