Next Week Highlights:
SEC to meet with applicants of Bitcoin ETF next week;
EigenLayer plans to increase LST upper limit on July 10th, the Operator testnet will go live in Q3;
Starknet.Alpha v 0.12 is now live on the testnet, mainnet launch possible on July 12th;
Kava 14 testnet has been released, mainnet launch planned on July 12th;
SEC to hold a meeting on July 13th regarding…
Coinbase's first legal defense responded;KuCoin will enforce KYC procedures for all customers starting from July 15th;
From July 10th to July 16th, here are the upcoming events to pay attention to in the industry:
July 10th
Odaily News: Binance announced that the liquidity mining service will be upgraded on July 10. All liquidity mining services will be affected during the upgrade, including but not limited to trading for mining, adding or redeeming liquidity in liquidity mining, and claiming liquidity pool rewards. However, the reward calculation will not be affected.
Odaily News: According to official sources, the Ethereum re-staking protocol EigenLayer announced that it will increase the upper limit of liquidity staking tokens (LST) to expand users' re-staking opportunities. To modify the re-staking limit, changes to the relevant protocol parameters also require approval from the multi-signature governance system. As of June 30, the operations multi-signature transaction to increase the limit has been queued within a 10-day time lock to ensure compliance with governance processes and security measures.
After the 10-day time lock expires, the Operations Multisig responsible for supervising the protocol's day-to-day operations and processes needs to trigger an action in the time lock contract, which will initiate parameter changes in the Executor Multisig and execute the modifications.
EigenLayer expects to increase the upper limit of LST in the week of July 10. At that time, the upper limit of LST (including rETH, stETH, and cbETH) will increase to 15,& 000 tokens (each type LST), with no individual deposit limit. Once the total deposits of LST reach 30,000 tokens, the LST staking will be paused.
EigenLayer states that with the increase in the upper limit of LST, the next steps of the EigenLayer roadmap will be explored. The focus remains on enhancing the staking experience while ensuring security and decentralization. The specific plan is to launch the Operator testnet in the third quarter and the Active Validation Service (AVS) testnet in the fourth quarter, with the AVS mainnet estimated to go live in the first quarter of 2024.
July 11th
Bitfinex will remove BAT/USDT, ID/USDT, TREEB/USDT, EOS/EUR trading pairs on July 11th
According to the official announcement, Bitfinex will remove the following 4 trading pairs: BAT/USDT, ID/USDT, TREEB/USDT, EOS/EUR. The removal of these trading pairs will help consolidate and improve Bitfinex's liquidity, providing customers with a more streamlined and optimized trading experience.
These four trading pairs will cease trading on July 11th, 2023 at 10:00 AM (UTC time). Please note that other trading pairs involving the respective tokens will not be removed and can still be traded on Bitfinex. Customers are advised to cancel any open orders on these trading pairs before their removal, as these orders will be automatically canceled by the system.
Starting from July 4th, 2023 at 10:00 AM (UTC time), customers will only be able to reduce their margin positions for EOS/EUR. All remaining margin orders will be canceled, and Bitfinex will enforce the settlement of all open margin positions on July 11th, 2023.
Polygon announces the launch of Bor v 0.4.0 mainnet, expected to go live on July 11th
Odaily News reports that Polygon has released Bor v 0.4.0 The mainnet, this version includes a hard fork called the Indore fork, which will be updated when the block height reaches 44934656, estimated to be on July 11, 2023, 12:00 (UTC+8).
July 12
Due to regulatory reasons, eToro will end US user access to DASH, MANA, ALGO, and MATIC on July 12
Odaily News: Social investing and trading platform eToro announced that it will end US user access to Algorand (ALGO), Decentraland (MANA), Dash (DASH), and Polygon (MATIC) at 18:00 on July 12 (Beijing time). US users will no longer be able to open new positions for these tokens but can still hold and sell their existing assets. Non-US customers will not be affected by this change.
Cryptocurrency mining company HIVE Blockchain announces rebranding plan effective July 12
Odaily News: Canadian listed company and cryptocurrency mining company HIVE Blockchain unveils a strategic rebranding plan with a focus on artificial intelligence. HIVE Blockchain Technologies Ltd. will change its name to HIVE Digital Technologies Ltd. to reflect its transformation towards high-performance computing (HPC) data centers and artificial intelligence (AI).
The company's common shares and warrants will continue trading under the "HIVE" ticker symbol. Any trading codes or consolidated capital will not be affected by the name change. The rebranding is expected to take effect around July 12. (Financemagnates)
Starknet.Alpha v 0.12 has gone online on the testnet, and may go live on the mainnet on July 12
Odaily News Starknet has gone live on the Goerli testnet, Starknet Alpha v 0.12. The new version uses the Rust blockifier and LambdaClass's Cairo VM to speed up the processor's transaction handling time. It supports Cairo compiler v2.0.0 and changes the PENDING status to ACCEPTED_ON_L2 (once the transaction is in this state, it means it will be included in the block), and adds experimental system calls.
According to Starknet Governance Initiator's earlier release of Starknet v 0.12.0 deployment schedule: from July 5th to 10th, the v 0.12.0 voting will be conducted, and on July 12th, Starknet v 0.12.0 will be deployed to the mainnet according to the voting results.
Kava 14 testnet has been released, and is scheduled to go live on the mainnet on July 12
Odaily News Kava Network announced on Twitter that the Kava 14 testnet has been released and will go live on the mainnet in two weeks (July 12).
July 13
Massachusetts Senate to hold hearing on blockchain and cryptocurrency-related bills on July 13
Odaily News - The Massachusetts Senate in the United States announced that it will merge several hearings on blockchain, digital assets, and digital privacy into one meeting on July 13, highlighting the growing importance of these topics in the state.
During the four-hour hearing, the "Advanced Information Technology, Internet, and Cybersecurity Committee" will discuss several notable bills, each of which has a significant impact on the state's practices in digital technology, blockchain, and cryptocurrency.
SEC will respond to Coinbase's initial legal defense on July 13
Odaily News - According to a court order on Thursday, the U.S. SEC will respond to Coinbase's initial legal defense on July 13. The date of the hearing is now much earlier than expected, due to Coinbase adopting a "creative" defense strategy.
During the appearance on July 13, Judge Katherine Polk Failla will decide whether to allow Coinbase to proceed with its motion to dismiss, filed yesterday.
It is reported that Coinbase submitted its initial response within 40 days before the August 7 deadline. Therefore, the court changed the pre-motion conference to a motion conference and moved the date from The content you provided is already in English and does not require translation.; Pause ATA/BUSD, FORTH/BUSD, JST/BUSD, QTUM/BUSD, SUN/BUSD, ZEN/BUSD, ZRX/BUSD cross-margin borrowing; On July 13th at 14:00, the positions of the above mentioned seven currencies' holding users will be closed, automatically settled, and the cross-margin trading pairs will be delisted.
July 14th
According to Wu Shuo's report, HKVAC, a Hong Kong private virtual asset rating agency, sparked controversy with the virtual asset index announced yesterday. Tokens such as SOL, AVAX, UNI, ETC, which ranked in the top 30, were not included; tokens such as FTM, EOS, which ranked significantly lower, were included.
In response, HKVAC stated that some tokens that should have been included in the top 30 have been considered. As it is close to the first adjustment time, new components and weights will be released on July 14th.
US Court may announce the ruling on Terraform Labs' Motion to Dismiss SEC Lawsuit on July 14th
The US court will make a ruling on Terraform Labs' motion to dismiss SEC lawsuit within a month. Judge Rakoff stated that the ruling on the motion to dismiss will be announced on July 14th or earlier.
The core issue discussed during the hearing on Terraform Labs' motion to dismiss the SEC lawsuit on Thursday evening was what exactly constitutes an "investment contract" and whether this term is applicable to UST. One of the key arguments presented by the defense is that UST, which is designed for practical purposes and not as an investment, does not have a contract. This aligns with similar arguments proposed by many other token issuers, asserting that their respective crypto assets are not securities.
Odaily News - Blockchain analysis platform Dune announces the depreciation timetable for SparkSQL and PostgreSQL. On May 15th, they will be removed from the data resource manager. On June 15th, editing will be disabled. And on July 15th, the service will be stopped. Dune reminds users to migrate to DuneSQL using the DuneSQL migration tool before July 15th. Queries running on SparkSQL or PostgreSQL will no longer be updated, but the data will still be accessible.
In addition, data ingestion for Polygon, BNB, Optimism, and Gnosis on their respective Postgres instances was already stopped on April 20th. Meanwhile, Spells will continue to run on SparkSQL in the short term, but can be queried using DuneSQL. The Dune team is testing a new version of Spellbook that will run entirely on DuneSQL, narrowing the remaining compatibility gap.
Odaily News - According to user feedback, Binance recently sent emails to users, stating that if the deposit addresses for their main and sub-accounts are on the Ethereum network, they need to change them by July 15th.
In, its recharge address is about to expire and will be replaced.Users need to re-obtain the address through the Binance App website or SAPI before 15:41:45 on July 15, Beijing time; once expired, the recharges to the old address will not be automatically credited.
In addition, the following networks with the same recharge address will no longer be valid: AMB, ARBITRUM, AVAXC, BSC, CELO, CFXEVM, CHZ, CTXC, ETC, ETH, FTM, GLMRKLAY, MATIC, MOVR, OPTIMISM, REL, RON, RSK, THETA, TOMO, VET, WAN, WTC, XDAI.
KuCoin will require all customers to complete KYC procedures from July 15
Odaily News: KuCoin will require all customers to complete KYC procedures from July 15. The operator of the exchange said on Wednesday that users must complete KYC in order to have full access to KuCoin's products and services, otherwise they will face restrictions.
If KYC procedures are not completed, users will only be able to use services such as spot trading sell orders, futures trading without leverage, leveraged trading without leverage, earning product redemptions, and ETF redemptions. They will not be able to deposit funds into the exchange, but they can withdraw them.
Johnny Lyu, CEO of KuCoin, said that the updated KYC policy is to "better comply with applicable regulatory requirements". (The Block)
July 16th
Odaily News According to official sources, the Securities and Exchange Commission of Thailand (SEC) today released digital asset wallet regulatory rules, which require digital asset business operators that provide custody services for client digital assets to establish digital wallet management systems to accommodate the efficient custody of digital assets and private keys, and to ensure the security of client assets.
The regulations cover the following requirements:
1. Supervising the risk management of digital wallets and private keys, as well as managing policies and guidelines;
2. Designing, developing, and managing digital wallets, as well as policies and procedures for creating, maintaining, and accessing private keys or other related information appropriately and securely;
3. Having an emergency plan for events that may affect the digital wallet and private key management system. This includes developing and testing action procedures, designating responsible persons, and reporting events. It is also necessary to conduct audits of system security and digital forensic investigations to prevent any events that may affect the security of systems related to digital asset custody, which could have a significant impact on client assets.
These regulations will take effect on January 16, 2023. According to transitional provisions, digital asset operators that have already provided custody of client assets before the regulations take effect must fully comply within six months from the date of the regulations taking effect.
Others (specific time not yet determined)
Lawyer: Spot Bitcoin ETF applicant to hold meeting with US SEC next week
Odaily News - Senior ETF analyst Eric Balchunas from Bloomberg tweeted, "According to reliable expert @BiasKnox, the spot Bitcoin ETF applicant will have a meeting with the US SEC next week. In my opinion, they should meet and definitely 'need to talk'."
However, he also pointed out that, "It needs to be clarified that we cannot confirm with 100% certainty if this is true. We are just trying to share interesting or useful information from legitimate sources."
It is reported that @BiasKnox's Twitter bio describes him as a securities lawyer.
US Senators to reintroduce the "Responsible Financial Innovation Act" next week
Odaily News - US Senators Cynthia Lummis and Kirsten Gillibrand will reintroduce their "Responsible Financial Innovation Act" next Wednesday, as the US Congress continues to shape the future of digital asset regulation.
Lummis stated, "This legislation is the most comprehensive proposal to date, providing strong consumer protections and appropriately addressing the current situation of cryptocurrency assets."
The bill aims to address key issues such as market structure, stablecoin regulation, and taxation. Lummis and Gillibrand first introduced the bill in June 2022. (Fortune)
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