Headline
Fed Chair Powell: We may raise interest rates in September if the data shows a need
Odaily News - Fed Chair Powell: We may raise interest rates in September if the data shows a need. (Jinshi Data)
EOS Foundation prepares to sue Block.one for "failure to fulfill $1 billion investment commitment"
Odaily News - EOS Foundation (ENF) founder and CEO Yves La Rose announced on Twitter that ENF is preparing to sue major investor Block.one (B1) for "failure to fulfill the $1 billion investment commitment".
La Rose said that Block.one is working to settle another class-action lawsuit with $22 million, after rejecting a proposed settlement of $27.5 million with the main plaintiff Crypto Assets Opportunity.
According to La Rose, the collective lawsuit in the United States, which was filed in 2017, is still in the process of being resolved, and those who want to join the latest lawsuit initiated by ENF need to withdraw from the previous lawsuit.
La Rose added that the deadline for filing claims or choosing to withdraw from the U.S. collective lawsuit is August 23, 2023. (Cointelegraph)
Multiple Starknet ecosystem projects release "7.28" teaser videos
Odaily News Multiple Starknet ecosystem projects simultaneously released videos on their official social media platforms, hinting that these projects may jointly announce important event updates on July 28th.
Participating projects include: Starknet ecosystem wallet Braavos, Starknet liquidity protocol Nostra, Starknet AMM protocol Fibrous, mySwap, etc.
Industry News
Odaily News According to the official announcement, Binance will launch Seed Tags and Monitoring Tags on July 26th, in response to user feedback that it is difficult to distinguish tokens between the Innovation Zone and the main trading area. Users need to pass the corresponding tests on Binance Spot and/or Binance Margin platforms every 90 days, and accept the terms of use, in order to obtain trading access for tokens with Seed Tags or Monitoring Tags. The test is designed to ensure that users understand the risks associated with trading tokens with Seed Tags and Monitoring Tags. Seed Tags and Monitoring Tags will appear on the corresponding Binance Spot and Binance Margin trading pages, as well as the market overview page. For all tokens with Seed Tags and Monitoring Tags, Binance will also display a risk warning banner.
The Seed Tags will replace the Innovation Zone and apply to all tokens currently listed in the Innovation Zone, as well as innovative project tokens to be listed in the future. These tokens may have higher volatility and risk compared to other listed tokens. In addition, Binance will also introduce Monitoring Tags, which will apply to tokens that may have higher volatility and risk compared to other listed tokens.
Furthermore, Binance will conduct regular project reviews and decide whether to add or remove relevant tags for tokens based on the latest investigation results.
Binance temporarily withdraws cryptocurrency license application submitted to BaFin in Germany
Odaily News, a spokesperson for Binance confirmed that the company has withdrawn its license application submitted to the German financial regulatory authority BaFin. Previously, Binance has faced restrictions in markets such as Austria, Belgium, and the Netherlands, and its US branch has been prosecuted by regulatory authorities for operating an unregistered exchange. In an emailed statement, a spokesperson said, "Binance confirms that it has voluntarily withdrawn its application with BaFin. There have been significant changes both in global markets and regulations. Binance still intends to apply for the appropriate license in Germany, but our application must accurately reflect these changes." In June of this year, Finance Forward reported that Binance would be denied a license by BaFin, but a Binance spokesperson at the time stated that the company was still in discussion with officials. Binance has also relinquished its registration with the Cyprus Securities and Exchange Commission, decided to exit the Netherlands after a failed registration, and has been ordered to cease operations in Belgium. In early June, Binance CEO CZ stated that despite the money laundering investigation in France, France still remains the flagship center for Binance in Europe. EU laws, which will allow crypto service providers to operate within the EU through a single license, will come into effect in 2024. (CoinDesk)
Odaily News: OKEx officially released its 9th Reserve Proof (PoR), with the reserves of 22 disclosed cryptocurrencies all exceeding 100%, including BTC, ETH, and USDT with a reserve rate of 103%, totaling a value of 11.3 billion US dollars. It is reported that OKEx is committed to improving the transparency of PoR to traditional financial audit standards, thereby continuously leading the industry in terms of security and transparency. It is one of the few mainstream cryptocurrency exchanges that publishes reserve proofs on a monthly basis. The current PoR system has been upgraded with innovative technologies such as zk-STARK, allowing users to independently verify OKEx's solvency.
OPNX launches its second Launchpad project, Gameplan
Odaily News: OPNX announced the launch of its second Launchpad project, Gameplan, a sports metaverse platform founded by UFC champion Khabib Nurmagomedov and Magomed Kurbaitaev. The project aims to provide sports fans with an all-in-one platform for activities, games, shopping, and interaction with sports idols.
It is reported that the project is led by 3AC Ventures, and OX token holders can receive a portion of the Gameplan platform token GPLAN.
Blockchain Capital reshapes its brand and launches post-investment support project "Build"
Odaily News: Crypto venture capital firm Blockchain Capital launched a new project today, focusing on providing post-investment support for founders, and also announced the redesign of its website to showcase its portfolio company network.
Kinjal Shah, General Partner at Blockchain Capital, said in an interview that the new project, called "Build," will focus on talent, market entry strategy, and partner network.
Shah stated that the company is committed to helping founders with token design as part of the Build program.
Shah also revealed that approximately 60% of the companies in Blockchain Capital's portfolio are based in the United States, but she added, "We do see a comprehensive situation of companies being established in Europe, Asia, and other jurisdictions that may be better and more friendly."
Blockchain Capital, founded in 2013, currently manages $1.9 billion in assets and is actively investing, with recent investments including Worldcoin (The Block).
Craig Wright's appeal fails in defamation case against Peter McCormack
Odaily News: Craig Wright, who claims to be Satoshi Nakamoto, has failed in his appeal against Peter McCormack's defamation case.
It is reported that in 2019, Craig Wright accused Peter McCormack of damaging his reputation through a series of tweets. At that time, Peter McCormack claimed that Craig Wright was a fraud and not the creator of Bitcoin. In the initial ruling, the court found Peter McCormack's statements to be defamatory, but based on Craig Wright's behavior during the trial, the court reduced the compensation amount to £1.
According to a court document today, the UK Court of Appeal upheld the previous ruling, stating that Craig Wright failed to provide sufficient evidence to support his claims. (The Block)
SEC accuses Quantstamp of conducting an unregistered securities offering in 2017
Odaily News: The U.S. Securities and Exchange Commission (SEC) has accused Quantstamp of conducting an unregistered securities offering in 2017. According to legal documents, Quantstamp raised over $28 million by selling QSP tokens to approximately 5,000 investors. The documents also stated that the company planned to use the proceeds from the offering to develop a protocol for automated security audits of smart contracts on the Ethereum blockchain.
Quantstamp has agreed to settle the charges without admitting or denying the SEC's findings. In addition to paying a civil penalty of $1 million, the company will also pay nearly $2.5 million in disgorgement and prejudgment interest.
The automated smart contract security auditing platform built by the company in June 2019 is no longer operational.
At the time of writing, a spokesperson for Quantstamp has not responded to a request for comment. (blockworks)
Project News
Optimism launches Law of Chains, v0.1 version is open for community feedback
Odaily News: Optimism announced the launch of the "Law of Chains" open neutral framework, which aims to build reliable protection for participants in the Superchain ecosystem, and is intended to promote the core principles of user protection, decentralization, and economic autonomy as the foundation for developing the Superchain.
The Law of Chains v0.1 version is now open for community feedback. Optimism plans to officially introduce it into the Optimism governance in the next quarter, while providing initial governance processes for new chains joining the Superchain ecosystem.
Cosmos ecosystem EVM-compatible chain Evmos will launch Evmos 2.0 on August 2nd
Odaily News: The Cosmos ecosystem EVM-compatible chain Evmos announced that it will launch Evmos 2.0 on August 2nd. Evmos 2.0 is not just a rebranding, but a major reset.
The updates in this version include enabling StakeFi and IBC composability through Evmos EVM, a sustainable and incentivized token economics for Evmos v2, and creating value consistency with future Evmos SDK chains through software licensing.
EraLend: Attacker manipulates oracle prices to obtain approximately $2.76 million from the USDC pool
Odaily News EraLend released the reason for the attack: the attacker manipulated the price of the oracle and obtained about 2.76 million US dollars from the USDC pool. Other fund pools remain secure and unaffected.
The attacker used multiple bridges to scatter the vulnerable funds into multiple wallets on different blockchains. Currently, the funds are dispersed across 3 blockchains and 8 addresses.
EraLend stated that they are actively collaborating with bridges, security teams, exchanges, and law enforcement agencies to investigate and trace the flow of funds. The top priority is to recover funds for the 500,000 protocol users.
In addition, to limit further impact, EraLend has temporarily suspended borrowing, USDC supply, and SyncSwap LP supply. They have also significantly lowered the interest rate of the USDC pool to protect the affected borrowing positions from potential liquidation during this period.
DeFi lending protocol Exactly Protocol opens token airdrop registration
Odaily News DeFi lending protocol Exactly Protocol announced that Exactly DAO governance token EXA has been launched on the OP Mainnet, and the airdrop registration was opened at 00:00 on July 26th, Beijing time. The total supply of EXA is 10 million tokens, with a 1% airdrop allocation and a 4-month linear unlocking period.
Binance NFT marketplace introduces AI NFT generator "Bixel" for KYC-verified users
Odaily News: Binance NFT Market announced that its AI NFT generator, called "Bixel," is now available for users to use permanently. This tool allows users to create unique digital art and enter the NFT world. However, users need to complete the platform's KYC identity verification process before using the tool. Binance explained: "This key measure is to maintain a trusted and secure platform for all users, in compliance with best practices and regulatory requirements."
In addition, casting NFTs using this tool requires a minting fee of 0.008 BNB, which is approximately $1.9 at the time of writing. According to Binance, this fee ensures that the NFT creation process is correctly executed on the BNB chain. (Cointelegraph)
Generative NFT art platform "Highlight" launches on Ethereum
Odaily News: Generative NFT art platform "Highlight" has launched on Ethereum. Highlight allows users to create, test, and mint computer-generated art as NFTs. It eliminates creator fees, allowing artists to retain 100% of the profits from sales, while buyers only need to pay a small fee.
Nathaniel Emodi, CEO of Highlight, stated, "Highlight will be the first open platform for generative art on Ethereum, featuring zero creator fees, ownable contracts, open versions, and more. We are collaborating with renowned generative artists, including Melissa Wiederrecht, James Merrill, Holger Lippmann, and Leander Herzog." (The Block)
Metaverse platform "NFT Worlds" rebrands as "HYTOPIA", related contracts will not be migrated
Odaily News: Metaverse platform "NFT Worlds" has announced a brand iteration and is officially renamed "HYTOPIA." After the rebranding, the project's token, TOPIA, remains unchanged, and related contracts will not be migrated. The social accounts have been updated to @HYTOPIAgg.
Cool Cats will release limited edition NFT series Reddit Collectibles on Reddit
Odaily News NFT project Cool Cats announced its participation in Reddit's Gen 4 Collectible Avatars series. The limited edition NFT series, Reddit Collectibles, will be released on Reddit on July 26th.
Investment and Financing
Odaily News Token crowdfunding service provider Financie announced the completion of a 1.5 billion yen financing (approximately $10.8 million), with TIS Inc. participating. Financie's total financing amount has reached 2.8 billion yen (approximately $20.2 million) so far.
It is reported that Financie, Inc. is a token-based community and ecosystem service company, and it owns token crowdfunding service FiNANCiE, NFT business, and IEO support business based on blockchain technology. (Accesswire)
Global Policies
Market News: Bipartisan agreement reached in the US House and Senate on cryptocurrency bill
Odaily News Bitcoin News reported that the US House and Senate have reached a bipartisan agreement on a cryptocurrency bill. This bill will require cryptocurrency exchanges to register with the Commodity Futures Trading Commission (CFTC) and create a new regulatory framework for Bitcoin and the entire "alternative" industry.
Odaily News According to an official announcement, the Office of the Superintendent of Financial Institutions (OSFI) in Canada has proposed changes to its capital and liquidity frameworks for crypto assets to reflect the evolving risk environment and international developments.
OSFI has announced two draft guidelines on the regulatory capital treatment of crypto asset risks, one for federal regulated deposit-taking institutions and the other for insurance companies.
The Basel Committee on Banking Supervision published new banking standards for crypto asset exposures in December 2022. In response, OSFI has taken this opportunity to draft this more detailed guideline for Canada.
Both draft guidelines will be open for public consultation until September 20, 2023, and will replace the interim consultation issued in August 2022 on the regulatory treatment of crypto asset risks, coming into effect in early 2025.
People's Opinions
American Bankers Association: Stablecoins should be subject to strong regulation like banks
Odaily News In two joint letters signed by the American Bankers Association (ABA) representing banks and the Consumer Bankers Association (CBA) representing credit unions, industry associations questioned part of the comprehensive regulatory framework for stablecoins that is set to be debated and voted on by the House Financial Services Committee on Thursday. A part of the legislation would allow state financial regulators to approve stablecoin issuances, which has raised concerns from the ABA, CBA, and the National Association of State Credit Union Supervisors.
The ABA and state bankers associations wrote, "For robust consumer protection and financial stability, the stablecoin ecosystem must be subject to strong regulation, just as the banking ecosystem is."
The associations added that they would like to see "federal oversight of state-licensed stablecoin issuers that is on a level with the oversight currently applied to state-chartered banks."
The groups also called for the stablecoin legislation to include provisions for regulators to review and third-party audit reserve holdings, which goes beyond the current asset reporting requirements in the bill, ensuring that stablecoin issuers have the assets they claim to fully back the fiat-pegged tokens they issue. (theblock)
IOS
Android