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Biden to Attend Bitcoin Roundtable Meeting
According to Odaily Planet Daily, Biden will join key congressional officials from Washington, D.C. to participate in a Bitcoin roundtable meeting. Proposed by U.S. Congressman Ro Khanna, the meeting will discuss how to keep Bitcoin and blockchain innovation within the U.S. Congressman Ro Khanna will host the Bitcoin and blockchain roundtable meeting in early July in Washington, D.C., describing it as “the most important meeting to date between blockchain policymakers and innovation leaders.” The roundtable is expected to be attended by officials from the Biden administration, the House, the Senate, and American entrepreneur Mark Cuban. The main goal of this meeting is to strategize on how to maintain “Bitcoin and blockchain innovation in the U.S.” This move is seen as a response to former President Donald Trump’s recent recognition of the Bitcoin industry. Over the past four years, the Biden administration has taken a hostile stance towards Bitcoin and the crypto industry. The upcoming roundtable marks a shift in Washington’s attitude towards the crypto industry, and given Khanna’s party affiliations, this may represent a warming sentiment among Democrats. Earlier this week, it was reported that the Biden administration is negotiating to accept cryptocurrency donations through Coinbase Commerce, following Trump’s lead in accepting donations through Coinbase. (Bitcoinmagazine)
ZK Nation: ZK Airdrop Distribution Opens Today
Odaily Planet Daily reports that ZK Nation has updated its FAQ document and clarified issues related to the airdrop. ZK Airdrop distribution will open at 3:00 PM Beijing time on June 17th.
LayerZero CEO: 594,641 Participants to Receive Airdrop, Early Traders to Receive 3x Rewards
Odaily Planet Daily reports that LayerZero Labs CEO Bryan Pellegrino announced the final airdrop rules, with early trades qualifying for a 3x reward. Additionally, if three trades were made later on, an additional reward of 50 tokens would be given (84,000 people qualify, totaling approximately 4.2 million tokens). A total of 594,641 participants will receive the airdrop, with varying amounts allocated based on participation levels.
Industry News
Fidelity Digital Assets Releases Video Introducing Runes, Will Continue to Monitor Development
Fidelity Investments’ Fidelity Digital Assets analyst Max Wadington released a video on YouTube introducing Bitcoin runes, providing a brief overview of the development history, protocol mechanisms, and impact on the Bitcoin network, and indicating ongoing monitoring of its development.
Deutsche Telekom Announces Launch of Bitcoin Mining Business
Odaily Planet Daily reports that Deutsche Telekom will launch a Bitcoin mining business to expand its ongoing crypto activities. Dirk Röder, head of Web3 infrastructure and solutions at Deutsche Telekom, announced during a speech at BTC Prague: “Since 2023, we have been running Bitcoin nodes, and we are also running Bitcoin lightning nodes. I want to tell you a little secret, we will soon engage in digital currency mining activities.” (Cointelegraph)
Three Independent Organizations Compete for Claiming SBF’s Seized Assets
Following the criminal conviction of former FTX CEO Sam Bankman-Fried, approximately $11 billion of assets related to his criminal activities, including crypto tokens, private planes, and funds in bank accounts, were seized in March. Now, three independent organizations – FTX Debtors Estate, a class of creditors, and an offshore entity founded by Sam – are competing to claim these seized assets, arguing that the assets rightfully belong to them. The Debtors Estate Management Company claims in the documents that despite Bankman-Fried being ordered to forfeit the assets, they never belonged to him in the first place, as they were held in the name of the Debtors entity or FTX Digital and/or funded entirely by the Debtors assets.
Project News
Vitalik Introduces New Image Compression Mode TiTok, Believes it Can be Used for On-Chain Storage
Odaily Planet Daily reports that Ethereum founder Vitalik Buterin posted on Farcaster introducing a new image compression mode called “Token for Image Tokenizer” (TiTok), stating that “320 bits is basically a hash value. Small enough to allow every user to go on-chain.”
Solana Sandwich Bot Earns Over $30 Million Through MEV Arbitrage in Two Months
According to chain analyst Ben on the X platform, the Solana Sandwich Bot has earned over $30 million through MEV arbitrage in the past two months. The Bot has transferred 114,000 SOL (approximately $16.5 million) to a custody account, which is not very active, and another active wallet where it engages in Solana DeFi activities.
Polygon Labs Launches Derivative Product “Privado ID” of its ID Solution
Polygon Labs, the primary development team behind Polygon, has completed its derivative product “Privado ID” of its ID solution. The team is actively partnering with on-chain and institutional organizations to extend Privado ID beyond the Polygon network, including some concept verifications (PoCs) with multinational banks and financial service companies to establish a technical foundation for an interoperable and compatible identity framework.
Cardano to Transfer Control of $681 Million Treasury Funds to Community
Cardano’s community will gain control of treasury funds worth over $681 million, making it the eighth largest treasury in the crypto space, according to TapTools data. The funds, funded by transaction fees and block rewards, will support ecosystem development to ensure sustainability. The project’s roadmap includes a three-tier governance structure: Cardano Foundation, Input Output Global (IOG) (formerly IOHK), and EMURGO, overseeing development, research, and commercial activities respectively. This fund transfer coincides with the upcoming Chang fork, a major upgrade transitioning Cardano to a fully decentralized blockchain ecosystem, with the Chang fork upgrade expected to be completed in June. (beincrypto)
Uniswap Labs Initiates Community Survey for New Feature, High Support for Using Any Token to Pay Gas Fees
Odaily Planet Daily reports that Uniswap Labs has initiated a new feature community survey, with high support for using any token to pay gas fees.A survey was conducted on X platform regarding the addition of new features in the Uniswap mobile application, including in-app bridge support, paying gas fees with any token, viewing LP positions, and price alerts. As of now, the highest support rate is for paying gas fees with any token.
LayerZero CEO announced on X platform that the community can review the temporary witch list within 24 hours, and any inaccuracies will be removed. The list is not for individual appeals and should list clusters with obvious errors and reasons for the errors. Additionally, a few bounty hunters’ reports have been approved but not yet included in the list, which may be updated slightly tomorrow, with 99% already listed.
The EIGEN token airdrop has surpassed 80 million claimed tokens after Season 1 Phase 1 opened for staking. Notcoin announced the end of the airdrop, with unclaimed tokens to be used for future development or destroyed. Notcoin currently has 11.5 million holders, with additional rewards for players reaching Gold and Platinum levels of staking.
Farcaster co-founder responded to comments about expanding Warpcast internationally by stating that there are no plans for international expansion as the team focuses on providing an excellent client for English users. Scroll announced the launch of the native token NURI on the NURI Exchange on June 19, combining Uniswap v3 security with innovative governance and incentive measures.
ZKX protocol decided to cancel public sale rounds and all launchpads based on community and investor feedback to ensure the long-term health of the ZKX token. LootBot announced the opening of ZKsync airdrop distribution queries in the Intent Terminal for users to check via Telegram bot login.
Slerf is developing community committees and DAOs for SLERF and Slerf Capital, involving Chinese and English KOLs to provide the community with more control and decision-making power. In the funding sector, Sidus Heroes, a Web3 game publisher, completed a new round of financing with DWF Labs participating. Reposwap, a DeFi trading platform, completed a seed round of financing led by QCP Capital.
Tether CEO highlighted the impact of USDT on the demand for the dollar in emerging markets, with over 300 million people globally using USDT as a digital dollar. DWF Labs co-founder mentioned the popularity of meme coins during market downturns. Trusta CTO discussed how the multiplier rules in ZKsync and LayerZero airdrops could exacerbate polarization and potential manipulation space in airdrop distribution design.
