Headlines
US SEC delays decision on Franklin’s Ethereum spot ETF application
The U.S. Securities and Exchange Commission (SEC) said it will take longer to decide on the Franklin spot Ethereum ETF listing proposal put forward by Cboe BZX Exchange. (PhoenixNews)
Binance Launches Renzo (EZ) Mining, Use BNB and FDUSD to Mine
According to the official announcement, Binance Launch Mining has launched the 53rd project - Liquidity Restaking Protocol Renzo (EZ). Users can put BNB and FDUSD into the EZ Mining Pool on the Launchpool website after 08:00 (ET) on April 24 to receive EZ rewards. EZ can be mined for a total of 6 days. The website is expected to be updated within about five hours of this announcement before the mining activity opens.
Binance will list Renzo (EZ) at 20:00 on April 30 (ET8), and open EZ/BTC, EZ/USDT, EZ/BNB, EZ/FDUSD and EZ/TRY trading markets, with seed tag trading rules applicable.
Industry News
After the first quarter, Fidelity Digital Assets revised its medium-term outlook for Bitcoin from “positive” to “neutral,” citing several indicators that suggest Bitcoin is no longer considered “cheap” amid the potential for increased selling pressure.
In its latest Signals report published on April 22, Fidelity Digital Assets cited the Bitcoin Yardstick or Hashrate Yardstick indicator, which works the same as the price-to-earnings ratio of stocks, as a way to determine whether Bitcoin is undervalued. Fidelity noted that the indicator's deviation from the mean of 51% in the first quarter was between negative 1 and zero, meaning that "there was not a single day in the first quarter when Bitcoin was considered 'cheap'."
Fidelity said this suggests that Bitcoin is currently trading at “fair value” and adjusted its medium-term outlook for Bitcoin to neutral. Other indicators cited by the company also added to its neutral outlook, as long-term holders are increasing selling pressure and 99% of addresses are in profit, which “could spur selling.”
Brazilian Digital Bank Nubank Allows Customers to Deposit and Withdraw BTC, ETH, and Solana
According to Bitcoin Magazine, Brazil’s largest digital bank Nubank announced that it will allow its customers to send and receive cryptocurrencies using the Nubank wallet, and send and receive BTC, ETH, and Solana through new withdrawal and deposit options.
Grayscale submits application to the US SEC to register Ethereum Mini Trust ETF
Grayscale has submitted documents to the U.S. SEC to apply for registration of the Grayscale Ethereum Mini Trust Fund (proposed code: ETH). The fund will be created by splitting and allocating assets from the Grayscale Ethereum Trust Fund (OTCQX: ETHE) and plans to be listed on NYSE Arca, subject to regulatory approval.
Grayscale Chief Legal Officer Craig Salm said that if approved, the new Grayscale Ethereum Mini Trust will be launched as a low-fee spot Ethereum ETF. At the same time, part of ETHE's Ethereum will be used to "seed" the new fund, and ETHE shareholders will receive a share of the new ETF in proportion. This split is not expected to generate taxable events for ETHE and its shareholders.
Crypto.com to delay launch of service in South Korea
Cryptocurrency exchange Crypto.com said on Tuesday it will delay the launch of its services in South Korea, initially scheduled for April 29, to facilitate further discussions with local regulators. The company did not reveal a new launch date.
“We are delaying the launch and taking this opportunity to ensure Korean regulators understand our policies, procedures, systems, and controls,” a Crypto.com spokesperson said. “Korea is a difficult market to enter for international exchanges, but we are committed to working with regulators to advance the industry in a responsible manner for Koreans.”
Earlier news, South Korea's Financial Intelligence Unit went to Crypto.com's office in South Korea for an on-site inspection on Tuesday after discovering problems in the anti-money laundering documents submitted by Crypto.com. (The Block)
Project News
X Payments will provide an in-app wallet capable of storing and sending funds to other X users
Christopher Stanley, chief information security officer of X Payments, posted on the X platform that X’s payment function will be more than “just tipping” and will include an in-app wallet that can store and send funds to any other X user, providing functionality similar to Venmo and Apple Pay.
Stanley added that the "ultimate goal" of X Payments is to create a fully functional financial ecosystem where users can conduct any typical transaction without having to withdraw funds. X users will eventually be able to use the app's expected payment features to send money to other users, make purchases in stores, and even earn interest on their accounts. (Cointelegraph)
According to previous news, X Platform has now obtained payment and remittance service licenses in 25 states in the United States.
Safe announces that SAFE tokens now support transfers
Safe posted on the X platform that proposal SEP 22 has been implemented and SAFE tokens now support transfers.
Earlier news, SafeDAO has voted to enable the SAFE token transferability proposal SEP 22. According to the proposal, the SAFE token intends to call the unpause method of the token contract (using the SafeSnap module) to make the token transferable. Unlocked SAFE tokens will remain in the lock contract and cannot be transferred after the SAFE token transferability is enabled.
In addition, Safe disclosed the economic details of the SAFE token, mainly including the maximum supply of 1 billion and the initial circulation of 427,000,000.
The Rune 9 LOBO airdrop snapshot will be taken at block height 840,574
Buoyant Capital posted on the X platform that Rune No. 9 LOBO•THE•WOLF•PUP will airdrop LOBO to Rune Door and Runestone holders, and the snapshot will be taken at block height 840,574. Each Rune Door will airdrop 367,500 LOBO, each Runestone will airdrop 102,772 LOBO, and each Pair will airdrop 206,084 LOBO.
It is reported that the Rune No. 9 LOBO•THE•WOLF•PUP will all be airdropped to Runestone and Rune Door holders and deployed by Buoyant Capital.
Gitcoin Grants Stack launches strategic funding program, application deadline is May 7
According to official news, Gitcoin Grants Stack announced a partnership with Aave Grants DAO (AGD) to launch the strategic financing program Aave&GHO Ecosystem Advancement QF Round, which will allocate a matching pool of US$50,000 to support influential projects and contribute to the development of the blockchain ecosystem. It is reported that the application opening period will last until May 7.
According to official news, Renzo announced that the protocol will begin its decentralization process on April 30, 2024, marked by the launch of the native token REZ.
Renzo Season 1 incentives will end on April 26, and users who sell their ezETH holdings before this date may not be eligible for the airdrop. Users can claim REZ on May 2 through the official claim website.
The official will linearly distribute 500 million REZ (5% of the total) based on the users' accumulated ezPoints. The top 5% of addresses will have 50% of their tokens unlocked immediately at TGE, and the remaining will be released linearly within 6 months.
In addition, 2% of the 5% airdrop in the first season (i.e. 0.1% of the total token supply) has been allocated to the following NFT communities: Milady Maker and SchizoPosters. The second season of incentives will start on April 26.
Unclaimed REZ within one month from the date of opening of eligibility will be used for the second season activities.
Character*Voice
Embers: Sun Yuchen’s on-chain address holds a total of about $4.165 billion in token assets
According to data disclosed by on-chain analyst Yu Jin on the X platform, Justin Sun’s on-chain operations since this round of bull market include:
1. After destroying 1 billion TUSD, 2.1 billion USDT was minted;
2. Transfer 2.525 billion USDT to Binance;
3. Purchased 323,799 ETH (about 1.0248 billion U.S. dollars) at an average price of 2,942 U.S. dollars;
4. Sun Yuchen’s on-chain address holds a total of approximately US$4.165 billion in huge token assets, mainly including: 598,900 ETH (US$1.902 billion), 5.364 billion TRX (US$602 million), 458 million USDD, 315 million TUSD, 300 million USDT and 158.9 trillion BTT (US$209 million).
BitMEX co-founder Arthur Hayes said in his latest article that the market weakness caused by the US tax season on April 15 and the Bitcoin halving is about to pass, the bull market will continue, and prices will only become more outrageous on the way up.
Arthur also mentioned: "The next period of time will be the best time to take advantage of the recent pullback to gradually increase your positions. Here are some Alt-coin positions that have been hit hard recently. I will discuss them slowly in the next article. There will also be many new tokens coming online. The increase in these tokens may not be so large (compared to the expectations when they were launched in the first quarter), but this also provides a good entry point for secondary investors. No matter which cryptocurrency you are interested in, the next few months will provide a golden opportunity to increase your position."
Investment and Financing
Crypto wallet startup Turnkey announced the completion of a $15 million Series A financing round, led by Lightspeed Faction and Galaxy Ventures, with participation from Sequoia Capital, Coinbase Ventures, Alchemy, Figment Capital and Mirana Ventures. (CoinDesk)
Decentralized AI platform and protocol Prime Intellect announced the completion of a $5.5 million seed round of financing, led by Distributed Global and CoinFund, with participation from Compound, Collab+Currency, Juan Benet and Protocol Labs. The new funds will be used to build a computing platform to achieve decentralized training across instances and achieve common ownership of artificial intelligence models by contributing computing, code, data, capital or expertise. (Prnewswire)
Security Risk
The cross-chain infrastructure Magpie Protocol stated on the X platform that there was a vulnerability in the contract and urged users who had authorized its contract and still had funds in their wallets to cancel the authorization of the relevant contracts on each chain as soon as possible.
IOS
Android