| Cboe submits revised filing for 5 Bitcoin ETFs; ConsenSys Layer 2 network Linea set to launch mainnet this week (July 12th)
Headline
On Tuesday, Cboe submitted revision files for 5 proposed spot Bitcoin ETFs, stating that it has reached an agreement with Coinbase on the terms to establish a surveillance sharing agreement. Previous documents stated that the exchange expects to reach this agreement. These changes were made to the 19 b-4 files of Wise Origin Bitcoin Trust, WisdomTree Bitcoin Trust, VanEck Bitcoin Trust, Invesco Galaxy Bitcoin ETF, and ARK 21 Shares Bitcoin ETF. (The Block) Coinbase's stock price rose over 12% today, reaching a new high of nearly $90, on the positive news.
Cryptocurrency
Glassnode data shows that approximately 592,000 BTC (equivalent to 3.45% of the circulating supply) were purchased at a price of $30,200. This indicates that even minor price fluctuations in either direction can result in a profit or loss for the 3.45% of the circulating supply. In addition, 3.71% of the BTC (equivalent to 637,000 coins) were purchased at a price of $16,500, and 3.05% (equivalent to 523,000 coins) were purchased at a price of $26,800.
The NEAR Foundation has released its transparency report for the second quarter of 2023. As of the end of the second quarter of 2023, the NEAR Foundation's treasury balance is $900 million, including a reserve of $349 million in fiat currency, 315 million NEAR tokens (valued at approximately $435 million based on a closing price of $1.38), and $90 million in loans and investments. The NEAR Foundation's treasury balance decreased by $200 million in the second quarter of 2023, primarily due to the decline in the NEAR price from $1.99 to $1.38.
Slow Mist: The total amount of funds flowing out of Multichain reached $265 million, distributed across 9 chains.
According to Slow Mist's analysis, since July 7th, the total amount of funds flowing out of Multichain has reached as high as $265 million, distributed across Ethereum, BNB Chain, Polygon, Avalanche, Arbitrum, Optimism, Fantom, Cronos, and Moonbeam chains. Among them, $65.82 million has been frozen by Circle and Tether, and 1,296,990.99 ICE (approximately $1.62 million) has been burned by the token issuer.
Coinbase will list Helium (HNT) on July 13th, 0:00.
According to official news, Coinbase will add support for Helium (HNT) on the Solana network with an Experimental tag. If the liquidity conditions are met, trading will start on Pacific Time, July 12, 2023, at 9:00 am (Beijing Time: July 13, 2023, 0:00) or later. Once the asset supply is sufficient, trading on the HNT-USD+++++++++++ pair will be phased in.
Project News
ConsenSys Layer 2 network Linea plans to go live on the mainnet this week
ConsenSys plans to launch its Layer 2 network Linea on the Ethereum mainnet this week, and developers will be able to deploy their projects to the Linea Alpha network on Friday, with user access beginning next week. According to ConsenSys, over 5 million unique wallets have already conducted transactions on Linea's test network, which launched in March and incentivized new users through NFTs and more. ConsenSys states that the gas fees on Linea will be 15 times lower than Ethereum and there are currently no plans to introduce the Linea token. (CoinDesk)
Algorand ecosystem's largest DeFi protocol Algofi to gradually shut down operations
Algofi, the largest DeFi protocol in the Algorand ecosystem, has announced that it will gradually shut down its operations. The Algofi team stated that the protocol will be set to "withdraw-only mode" and will close all social media accounts except for the Discord channel "to ensure seamless and unified communication." The process is expected to take several months, during which the Algofi team will reduce the collateral factor of the digital asset lending market on their platform to facilitate liquidity migration to other protocols. (Cryptoslate)
BAYC to launch IP-focused platform this month
Tools Made by ApesBored Ape Yacht Club is partnering with SaaSy Labs to launch an IP (Intellectual Property) tool Made by Apes later this month. Yuga Labs
co-founder Greg Solano stated that while people in the club have been using their IP to build, there hasn't been a simple on-chain way to verify these things or an official directory to catalog everything done by Bored Apes and Mutant Apes. So the team and SaaSy Labs have come up with a solution. Reportedly, SaaSy Labs leverages blockchain-based legal agreements to unlock the potential of smart contracts, facilitating the signing, management, and downstream financial mechanisms of legal agreements. The collaboration use cases listed on its website include on-chain automated licensing agreements and showcasing intellectual property.
Middlemarch, creator of Ethereum's Inscription protocol, tweeted that CryptoPunks on Ethereum's Inscription project were requested for removal and delisting of all content and tweets related to Punks by Yuga Labs due to Punk's copyright issues.
Starknet: Conducting stress tests on the public testnet, with peak transactions reaching 90 TPS
Starknet, an Ethereum Layer 2 solution, tweeted that it is currently conducting stress testing on the public testnet using hundreds of accounts for transaction transfers. The current data shows that the testnet is performing consistently at around 37 TPS, occasionally reaching a peak of 90 TPS. This morning, Starknet approved the proposal to launch the Alpha v 0.12.0 version on the mainnet with a support rate of 97..91%, the upgrade of the new version is expected to be carried out on Wednesday.
Axelar partners with Microsoft to provide and develop blockchain interoperability solutions
Cryptocurrency interoperability project Axelar establishes a partnership with Microsoft to offer blockchain interoperability solutions. As part of the deal, Axelar's blockchain interoperability solutions will be offered to Microsoft's customers through the Azure marketplace. The move aims to make it easier for Web3 and enterprise developers to access the blockchain. According to reports, Axelar is a blockchain project that aims to achieve secure communication across various chains. It accomplishes this through a programmable interoperability layer on the Cosmos network. (The Block)
Investment and Financing
AI-based crypto project Giza completes $3 million Pre-Seed funding round with CoinFund as lead investor and participation from StarkWare, TA Ventures, and Arrington Capital. Fran Algaba, CEO of Giza, declined to comment on the implied valuation of the company. The company was founded in October last year by Cem Dagdelen, Fran Algaba, and Renç Korzay, aiming to bring artificial intelligence into the blockchain field and integrate zero-knowledge proof technology with AI to achieve blockchain verification with less computing power. With the injection of new funds, Giza is expected to release its infrastructure next week and fully launch the platform within 2023. (Fortune)
Institutional liquidity staking protocol Liquid Collective developer Alluviall announces completion of $12 million Series A funding round. has raised a $15 million seed round led by Boldstart Ventures, with participation from Lux Capital, Elephant, and Cypher Capital. The company plans to use the funding to further develop its product and expand its team. Olympix aims to provide cybersecurity solutions for the crypto industry, helping to protect against hacking and other cyber threats. The company's platform offers real-time monitoring, threat intelligence, and incident response services. It also provides tools for secure communication and transaction verification within crypto networks. With the growing importance of cybersecurity in the crypto space, Olympix is well-positioned to capitalize on this market opportunity. (Fortune)
Gondi, an NFT lending protocol, has announced its launch on Tuesday and completed a $5.35 million seed round. It was led by Hack.vc and Foundation Capital, with participation from Dragonfly Capital, Pantera Capital, 6th Man Ventures, and others. Gondi allows lenders and borrowers to leverage the value of blue-chip NFTs on the Ethereum blockchain. Lenders can offer their NFTs on the platform at fixed interest rates, while borrowers can use NFTs as collateral or for NFT-based financial applications. (CoinDesk)
SEC delays decision on bitcoin ETF approval until 2022
The U.S. Securities and Exchange Commission (SEC) has delayed its decision on the approval of a bitcoin exchange-traded fund (ETF) until 2022. The SEC has been considering several proposals for a bitcoin ETF, but has so far been hesitant to give the green light due to concerns over market manipulation and investor protection. The delay is seen as a setback for the growing interest in crypto-related investment products, as an ETF would make it easier for institutional and retail investors to gain exposure to bitcoin. (Fortune)
;Completed $4.3 million seed financing led by Boldstart VenturesCryptocurrency network security startup Olympix announced on Tuesday that it has completed a $4.3 million seed financing round led by Boldstart Ventures, with participation from Robot Ventures, Shrug Capital, Konstantin Richter from Blockdaemon, and Tarun Chitra from Gauntlet Networks. Olympix is reportedly dedicated to building an AI-driven toolkit for constructing a cryptocurrency network security stack and is currently in the alpha testing phase. (Fortune)
Person's *Voice
Temasek CIO: Not Planning to Invest in Crypto Companies Due to Regulatory Uncertainty
Rohit Sipahimalani, the Chief Investment Officer of Singapore's sovereign wealth fund Temasek, stated in an interview, "There is a lot of regulatory uncertainty in the current environment. I do think it is hard for us to invest and transact (in crypto companies) in this sort of situation." Sipahimalani added that Temasek has never sought to invest in cryptocurrencies and the same applies even to FTX; Temasek talks about investing in trading platforms to earn revenue from platform fees without considering balance-sheet risk or any trading risks. (CNBC)
July&nbOn the 11th day, the encrypted venture capital firm Paradigm submitted a non-party opinion statement to the SEC in the Bittrex bankruptcy cryptocurrency exchange case, stating that the exchanges trading these cryptocurrency assets lack regulatory frame works and the US SEC has no jurisdiction over the cryptocurrency secondary market. The court should dismiss this case.
