Odaily Zcash's native token ZEC rose over 12% on Tuesday after the team responsible for developing its privacy pool said it is nearing completion of a mathematical proof to confirm that there are no undetectable counterfeit minting vulnerabilities in the latest Zcash shielded pool.
The verification work, driven by Project Tachyon, is aimed at Zcash's upcoming Ironwood shielded pool. Zcash founder Zooko Wilcox stated that the project is on the verge of producing a mathematical proof, with the goal of proving that the latest Zcash privacy pool has no undetectable minting vulnerabilities.
This development follows the disclosure last month of a serious counterfeit vulnerability in the Zcash Orchard shielded pool. At the time, the flaw sparked market concerns about the potential for undiscoverable, hidden inflation risks within Zcash's privacy system, causing ZEC to drop by over 40% within two days.
Developers say that with the help of AI-assisted formal verification, proof work that previously might have taken years has now been compressed to a few weeks. The news pushed ZEC back above $500, its highest level since early June. (The Block)
Odaily Planet Daily News: Strike, founded by Jack Mallers, has launched a new Bitcoin-backed mortgage loan product, with a key selling point being the avoidance of forced liquidation triggered by declines in BTC price. Strike states that as long as borrowers make timely repayments, regardless of how deep the Bitcoin price drops, the collateralized BTC will not be moved or liquidated.
In a post on X, Mallers stated that the product has no margin call requirements and no price-based liquidation mechanism, allowing users to borrow US dollars while continuing to hold their Bitcoin. He noted that volatility is inevitable, but liquidation is not.
Strike said the new loan product eliminates price-triggered actions linked to the loan-to-value (LTV) ratio, so borrowers do not have to worry about automatic liquidation due to a drop in BTC price. As long as interest and due payments remain current, the collateral will remain untouched.
Odaily, the U.S. Commodity Futures Trading Commission (CFTC) has filed a lawsuit against North Carolina resident Trevor Vernon and his company, Argent Capital Management LLC, accusing them of defrauding approximately 60 investors out of a total of $14 million through a fraudulent commodity pool.
According to the complaint filed by the CFTC on Tuesday in the U.S. District Court for the Western District of North Carolina, the commodity pool operated by Vernon and his company involved trading in multiple asset classes, including stock index futures options, stock index futures contracts, and crypto assets.
The CFTC alleges that Vernon misled investors by portraying himself as a "successful trader" through quarterly financial updates and monthly performance review emails. In reality, however, he incurred substantial losses while trading with investor funds.
The regulator stated that Vernon suffered cumulative losses of at least $8.6 million from trading futures, options, and crypto assets. The CFTC claims that his actual trading results were marked by "consistent and catastrophic losses," which significantly contradicted the profitability he presented to investors.
Odaily reported that Payward, the parent company of Kraken, has won its arbitration against former auditor Mazars USA, with the arbitrator ruling that Mazars must pay Payward $22 million. Payward is now seeking confirmation of the arbitration award and a final judgment from the Delaware Court of Chancery.
The dispute originated during the peak of the so-called "Operation Choke Point 2.0" in 2022. Payward claimed that Mazars abruptly withdrew from a nearly completed audit of Kraken without finding any issues with the company. However, the move caused reputational damage to Kraken and forced the company to spend years and incur significant legal fees to clarify its position.
Arjun Sethi, co-CEO of Payward, stated that audits are not a "favor" for crypto companies but rather critical infrastructure necessary for maintaining banking relationships, licenses, counterparty trust, and regulatory confidence. When an auditor withdraws without negative findings, it unfairly leaves a cloud of suspicion over the company.
"Operation Choke Point 2.0" is the crypto industry's term for regulatory pressure during the Biden administration, referring to the period after the FTX collapse when US regulators informally pressured banks to limit services to crypto companies. Sethi noted that the US FDIC sent at least 25 letters to 24 banks, requesting them to pause or avoid expanding crypto-related business. This ruling is also seen as a legal countermeasure by the crypto industry against such regulatory pressure.
According to Odaily, driven by the hype surrounding SpaceX’s initial public offering (IPO), the tokenized stock market hit a record high for trading activity in June, with on-chain transaction volume reaching $3.86 billion, a 145% increase from May. Among the trades, tokenized SpaceX stocks accounted for $1.19 billion, representing approximately 31% of the total tokenized stock volume in June. The SPCX token launched by Backpack Securities became the most actively traded tokenized SpaceX stock product, with a single-month on-chain trading volume of $1.08 billion.
Data indicates that this growth surge was primarily fueled by demand for SpaceX-related assets. Previously, SpaceX completed a $75 billion IPO, marking the largest IPO in history, and the company is valued at approximately $1.8 trillion on a fully diluted basis. Traditional popular assets such as Nvidia, Tesla, the S&P 500 ETF (SPY), and the Nasdaq 100 ETF (QQQ) remained actively traded, but none matched the market heat of tokenized SpaceX stocks. Additionally, the total market capitalization of the tokenized stock market rose to $1.53 billion in June, up 6.64% from the previous month, marking the 15th consecutive month of growth. (CoinDesk)
Odaily Planet Daily News Market reports: Microsoft (MSFT.O) has replaced models from OpenAI and Anthropic with its self-developed AI models in some applications. (Jin Shi)
Odaily Odaily reported that the U.S. Energy Information Administration (EIA) released a Short-Term Energy Outlook report, which mentioned that on June 18, the United States and Iran signed a memorandum of understanding to end the conflict and reopen the Strait of Hormuz. With the signing of the agreement and the increase in Strait transits, we have raised our expectations for global oil production for the remainder of the year. We now expect most crude oil production to return to near pre-conflict average levels by the end of this year, with most of the shut-in crude oil production coming back online by the first quarter of 2027 (Q1 2027). (Jin Shi)
Odaily Planet Daily News: EIA Short-Term Energy Outlook report: The 2026 WTI crude oil price is expected to be $76.26 per barrel, compared to the previous forecast of $88.32 per barrel. The 2027 WTI crude oil price is expected to be $60.76 per barrel, compared to the previous forecast of $74.39 per barrel. The 2026 Brent crude oil price is expected to be $81.91 per barrel, compared to the previous forecast of $95.39 per barrel. The 2027 Brent crude oil price is expected to be $64.76 per barrel, compared to the previous forecast of $79.39 per barrel. (Jinshi)
Odaily reports that Anthropic has announced Claude Cowork will be available on mobile and web platforms. Additionally, the double collaboration quota for Claude Code Cowork has been extended to August 5.
Odaily Planet Daily News: According to official sources, the BNB ecosystem prediction market platform predict.fun has announced the launch of an institutional-level block trading feature. It offers off-chain matching and on-chain settlement services for large transactions on the platform, supporting institutional users in conducting large-scale prediction market trades. Through a dedicated matching service, buyers and sellers can directly match with counterparties and complete large orders via single peer-to-peer (P2P) transactions, avoiding issues such as slippage, insufficient liquidity, and position exposure found in traditional order book trading. It is reported that predict.fun will waive all over-the-counter (OTC) trading related fees for the next two weeks.
Odaily News, Adam, a macro researcher at Greeks.live, posted on platform X that the rebound appears to be losing momentum. There has been a sudden increase in block call option trading today. Combined with a decline in implied volatility, large holders are selling call options. A significant number of call options for the current month have been sold off, and the margin released from the June quarterly settlement is being rapidly converted into seller positions amid this rebound. He suggested that one could consider following the trend and selling some 0.3 Delta call options, such as the next-week $66,000 call option.
The PPP Prediction Market Tool monitors that in the Polymarket World Cup Argentina vs. Egypt prediction event, the address swisstony, which made a profit of $2.4 million in 7 days, holds $710,000 on Egypt failing to win in regular time.
Address: 0x204f72f35326db932158cba6adff0b9a1da95e14
Join the PPP Signal Push Community to get ahead and seize the opportunity.
The PPP Prediction Market Tool monitors that in the Polymarket prediction event for the total goals in the Argentina vs. Egypt match, the address Sparkling8899, which made $2 million in 7 days, purchased $1.27 million on the total goals being under 2.5. However, this address has also incurred a total loss of $1.64 million.
Address: 0x2e25b222e2080c377fc1fb2b9f926315f0f4d49e
Join the PPP Signal Push Group to get ahead and seize the opportunity.
· Argentina vs. Egypt, July 8, 00:00 (UTC+8)
· Switzerland vs. Colombia, July 8, 04:00 (UTC+8)
Real-time schedule updates, one-click access to popular matches, and quick insights into the current movements of smart money.
Odaily reported that Sui announced on platform X that the WaterX_app Predict Festival has gone live, bringing a month-long prediction campaign on Sui, featuring daily predictions, treasure chest rewards, and real dollar prizes.
