Top headline:
Founder of Curve liquidates approximately 100 million CRV, with a healthy position of over 1 remaining and temporarily safe from liquidation
According to residual detection, Curve founder Michael Egorov has liquidated about 100 million CRV, valued at around $27 million. The remaining position at the main address is 39.35 million CRV, with a loan of $5.4 million, currently maintaining a healthy rate of over 1 and thus not subject to liquidation for the time being.
MicroStrategy: to use profits to buy more Bitcoin
MicroStrategy announced its intention to use profits to purchase more Bitcoin.
US SEC Chairman: Ethereum ETF S-1 expected to be approved this summer
Market sources report that US Securities and Exchange Commission Chairman Gary Gensler expects the Ethereum ETF S-1 to be approved sometime this summer. According to FOX reporter Eleanor Terrett, Gary Gensler disclosed this information while communicating with US Senator Bill Hagerty.
Industry news:
DTCC website lists Invesco and Galaxy Ethereum spot ETF code QETH
The DTCC website has listed the Ethereum spot ETF “INVESCO GALAXY ETHEREUM ETF SHS” (code QETH) launched by Invesco and Galaxy, with the Create/Redeem section showing as N.
“Fortune”: Terraform Labs bankrupt and unable to pay $4.47 billion fine to US SEC
According to “Fortune” magazine, reports by Bloomberg that Terraform Labs would pay $4.47 billion to the US Securities and Exchange Commission were deemed inaccurate, as the SEC may only receive a small portion of the fine, or even none at all. It is reported that Terraform Labs is nearly bankrupt and it is unclear if Do Kwon still owes the $204 million judgement.
Paradigm launches a third fund worth $850 million
According to official sources, Paradigm has announced the launch of a $850 million third fund, focusing on early-stage crypto projects.
He Yi: Binance and Coinbase are not on the same track
Binance co-founder He Yi stated in X Space that Coinbase is an excellent trading platform, but fundamentally, Binance and Coinbase are on completely different paths in the blockchain industry.
Insider: Biden campaign team considering accepting cryptocurrency donations through Coinbase Commerce
Insiders reveal that the US President Biden’s campaign team is in discussions with cryptocurrency industry professionals to accept cryptocurrency donations through Coinbase Commerce. This move comes as Biden’s team explores ways to attract support from cryptocurrency enthusiasts ahead of the elections. Some congressional experts believe that the election results could be determined by a narrow margin.
Coinbase CEO meets with multiple senators in Washington to discuss clear regulations for the crypto industry
Coinbase CEO Brian Armstrong stated that he met with several Democratic and Republican senators in Washington over the past 48 hours to discuss establishing clear regulations for the crypto industry and consumer protection measures for crypto users. Armstrong expressed satisfaction with the bipartisan consensus in the Senate to push related legislation forward.
US May Producer Price Index unexpectedly falls, boosting hopes of a Fed rate cut in September
Due to a decrease in energy costs, the US May Producer Price Index unexpectedly declined, indicating a drop in inflation after a surge in the first quarter. Economists are now optimistic that the Fed will cut rates starting in September, with two rate cuts expected by the end of the year.
Project news:
Curve founder: Repaid 93% of bad debts on Curve lending platform
Curve founder Michael Egorov announced on X that he has repaid 93% of the bad debts on the Curve lending platform, with only the CRV pool affected.
GME selects DWF Labs as market maker and creates dedicated multisig wallet
GME has chosen DWF Labs as its market maker and created a dedicated multisig wallet to streamline processes and enhance security and transparency for all transactions.
Terraform Labs CEO: Considering dissolving the company and selling projects to the community
Terraform Labs CEO Chris Amani revealed plans to dissolve the company and sell projects within the Terra ecosystem to the community, following a $4.47 billion settlement with the SEC.
crvUSD shows a premium due to CRV liquidation, Wintermute takes advantage to profit $630,000
According to on-chain analyst @ai_9684xtpa, crvUSD showed a premium this morning due to CRV liquidation, reaching a high of $1.07. Wintermute seized the opportunity to sell 9.29 million crvUSD for USDC at an average price of $1.06779, making a profit of approximately $630,000.
Bankless co-founder: Discord survey shows overall satisfaction with ZKsync airdrop
Bankless co-founder David Hoffman reported on X that a Discord survey revealed overall satisfaction with the ZKsync airdrop, with some users expressing disappointment due to issues with the airdrop process.
Paxos lays off about 20% of staff to focus on tokenization and stablecoin opportunities
Stablecoin issuer Paxos announced a 20% reduction in staff, affecting 65 employees. The layoffs aim to concentrate resources on tokenization and stablecoin projects. Paxos has provided severance packages, insurance subsidies, and other support for affected employees.
LayerZero CEO: Nearly 200 witch reports approved, review in final stage
LayerZero CEO Bryan Pellegrino stated on X that almost 200 witch reports have been approved, with the review process reaching its final stages.
Zyfi recognized as “ZKsync native project,” receives over 1.64 million ZK airdrop
Native account abstraction layer Zyfi announced on X that it has been recognized as a “ZKsync native project” and received a 1,642,005 ZK token airdrop for further development and community service.
