Daily Report | Coinbase receives FCM approval to offer regulated cryptocurrency futures trading for eligible U.S. customers; the Ethereum Foundation allocated approximately $9.21 million to 57 projects and activities in the second quarter of this year
The metaverse platform ZTX has completed a $13 million seed round financing, led by Jump Crypto; the MUA pass opened for FreeMint and has already attracted over 10,000 holders within 24 hours."What Important Events Happened in the Last 24 Hours"
1. Sei Mainnet Testnet Officially Launched
According to official news, the Sei mainnet testnet Pacific-1 is now officially online, supporting users to cross-chain and stake SEI. Atlantic and airdrop rewards will be available for claim after the initial warm-up period when the Sei ecosystem is ready. (Source link)
2. Ethereum Foundation Allocated Approximately $9.21 Million to 57 Projects and Activities in Q2 This Year
The Ethereum Foundation announced the funding situation for the second quarter "Ecosystem Support Program," providing a total of $9,218,158.34 to 57 projects. (Source link)
3. Ethereum Worth Up to $5 Million Held in Trump's Wallet
According to the latest certified "2023 Financial Disclosure Information" released by the Washington Citizens for Responsibility and Ethics, former U.S. President Donald Trump's wallet holds Ethereum worth up to $5 million, with a detailed entry specifically listing $2.8 million in income.
The disclosed information also shows that Trump earned $4.9 million from the NFT licensing agreement with NFT INT LLC, the company behind two independent NFT issuances.
The Block Research analyst Brad Kay stated that Trump's two series of NFTs have earned $2.6 million in revenue through secondary market sales royalties. The four digital wallets receiving these royalty incomes currently hold Ethereum worth approximately $3 million. (Source link)
4. Metaverse Platform ZTX Completes $13 Million Seed Round Financing, Led by Jump Crypto
According to Decrypt, the South Korean metaverse platform Zepeto and Jump Crypto's collaboration to create the metaverse platform ZTX (ZepetoX) announced the completion of a $13 million seed round financing, led by Jump Crypto, with participation from Collab+Currency, Parataxis, MZ Web3 Fund, Everest Ventures Group, and others.
The South Korean metaverse platform Zepeto and Jump Crypto aim to enter the blockchain space through ZTX. Zepeto hopes to integrate 3D environment ownership into its platform through the ZTX initiative to promote cryptocurrency adoption.
ZTX is expected to launch its first "Genesis Home Mint" project this month, which will include a collection of 4,000 custom 3D house NFTs that will be sold on the Ethereum scaling network Arbitrum. Purchasing these NFTs will grant users membership to Zepeto, as well as priority access to participate in specific airdrops, events, and in-game enhancements in the future. (Source link)
5. Significant Price Discrepancy for SEI Across Multiple Trading Platforms, Upbit Price at $0.527, Over Twice the Price on Binance
According to market data, Sei (SEI) has shown significant price discrepancies across multiple trading platforms, currently reported at $0.527 on Upbit and $0.2457 on Binance. Additionally, CoinMarketcap data shows SEI at $0.4 on Bitfinex and $0.31 on Coinbase.
According to CoinGecko data, the 24-hour trading volume for SEI on Binance's USDT, TRY, and BNB trading pairs totals $183,798,729; while on Upbit's KRW and BTC trading pairs, the 24-hour trading volume totals $567,144,579.
6. Data: 553 Million ARB Transferred to 151 Unlocking Contract Addresses 7 Hours Ago, Worth Approximately $631 Million
According to Spot On Chain monitoring, 553 million ARB were transferred 7 hours ago from a Safe multi-signature address labeled "Arbitrum: Investors ARB Vesting" to 151 unlocking contract addresses, worth approximately $631 million. (Source link)
7. Mastercard Executive Vice President: The Company Plans to Introduce CBDC on Public Chains for NFT Purchases
Binance's venture capital and incubation arm, Binance Labs, announced a strategic investment in AltLayer, a leading provider of decentralized Rollups as a Service (RaaS) for Web3 applications.
Binance Labs Investment Director Nicola W. stated, "Application-specific Rollups provide the security of Layer 1 and the customizability of application chains. However, a common issue with today's Rollups is that they mostly operate using centralized sequencers, resulting in fragmented liquidity and user bases. We find AltLayer's approach to facilitating application-specific Rollup launches through the Beacon Layer to be an inspiring practice. Their core network provides several decentralized and interoperability attributes urgently needed in the thousands of Rollup worlds. All of this significantly shortens time to market and encourages rapid innovation and experimentation." (Source link)
8. MUA Pass Opened FreeMint, Over 10,000 Holders in 24 Hours
According to ChainCatcher, within 24 hours of the MUA DAO's FreeMint opening, the number of pass holders exceeded 10,000, making it the highest minted project on the BNB Chain.
Previous report mentioned that MUA reached a partnership with HashKey Exchange, Hong Kong's first licensed trading platform for retail users, allowing MUA pass holders to earn exclusive HSK points, which will have more empowerment within the HashKey ecosystem. (Source link)
9. Helio Releases Roadmap V2 Update, Integrating RWA and Achieving Multi-Chain Expansion
Helio, the issuer of the open-source liquidity protocol and decentralized stablecoin HAY, published an article reviewing the goals achieved in V1 and announced the roadmap update for V2, which mainly includes:
Adding Algorithmic Market Operations Module (AMO): Enhancing the stability and capital efficiency of HAY pegged to the US dollar.
Developing a Lending Module: Planning to build a fully autonomous and decentralized lending market within the Helio protocol, collaborating with multiple DEXs and lending platforms to enhance DeFi composability.
Introducing Dutch Auction Mode in the Liquidation Module: Maintaining the LTV ratio for lending to avoid bad debts.
Integrating RWA: Tokenizing assets such as bonds from traditional finance to optimize reserves and reduce risks.
Achieving Multi-Chain Expansion: Initially expanding the Helio protocol to Ethereum, followed by deployment on Layer 2 networks such as Arbitrum and zkSync.
Previously, Helio received a $10 million investment from Binance Labs on August 11 to help the protocol continue its transformation into a liquid staking platform and assist Helio in deploying to networks such as Ethereum, Arbitrum, and zkSync. (Source link)
10. Coinbase Obtains FCM Approval to Offer Regulated Cryptocurrency Futures Trading to Eligible U.S. Customers
Coinbase Financial Markets, Inc. has received regulatory approval from the National Futures Association (NFA), a self-regulatory organization designated by the U.S. Commodity Futures Trading Commission (CFTC), to operate as a futures commission merchant (FCM) and provide services for trading cryptocurrency futures through Coinbase to eligible U.S. customers. (Source link)
11. Cryptocurrency Custodian BitGo Completes $100 Million Financing at a $1.75 Billion Valuation
According to Bloomberg, cryptocurrency custodian BitGo Inc. announced a $100 million financing at a $1.75 billion valuation. BitGo ensures the security of crypto assets by protecting private keys, sometimes in physical vaults. The company is currently the custodian for creditors of the bankrupt digital asset exchange FTX and is also responsible for its legal proceedings. Other clients of BitGo include financial services company Swan Bitcoin and blockchain developer Mysten Labs Inc. (Source link)
"What Interesting Articles Are Worth Reading in the Last 24 Hours"
1. "Dialogue with Cypher Capital Chairman: Don't Let the Cycle Theory Obscure Your Vision, Return to Technology and User Base"
In the Middle East, a relatively balanced regulatory and innovative Crypto "land," how does Cypher "forge good relationships" to develop diverse businesses ? What are the obvious characteristics of the investment and entrepreneurial atmosphere in the Middle East Web3 ? As an investor who has experienced the complete cycles of Web1/Web2, how does Bill Qian view the current development cycle of the Crypto industry, as well as the recent trends of Bitcoin spot ETF applications and PayPal issuing stablecoins, where Web2 forces are entering against the trend **? Bill Qian recently shared in-depth insights through an interview with ChainCatcher on these topics.
2. "Multicoin Capital Partner: Analyzing Why Modular Blockchains Are Overrated from 7 Perspectives"
Over the past two years, the debate on blockchain scalability has focused on the central topic of "modular vs. integrated."
It is important to note that discussions in cryptocurrency often confuse "single" and "integrated" systems. The technical debate between integrated systems and modular systems has spanned 40 years of history. This dialogue in the cryptocurrency space should be constructed through the same lens as history, far from being a new debate.
When considering modularity versus integration, the most important design decision a blockchain can make is to what extent it exposes the complexity of the stack to application developers. The customers of blockchains are application developers, so the ultimate design decisions should consider their positions.
Today, modularity is largely hailed as the primary means of blockchain scalability. In this article, I will question this assumption from first principles, revealing the cultural myths and hidden costs of modular systems, and sharing my conclusions drawn from six years of contemplation on this debate.
3. "a16z Crypto's Latest Research: Four New Business Models Emerging from the Convergence of AI and Blockchain"
We hope this technology can truly belong to me, leading to a vision that you can achieve this with blockchain. You can embed artificial intelligence in smart contracts. With the power of zero-knowledge proofs, maintain data privacy. Over the next few decades, this technology will become increasingly intelligent. You can choose to do anything you want or change it in any way you wish.
So what is the relationship between blockchain and artificial intelligence? What kind of world will artificial intelligence lead us to? What is the current state and challenges of artificial intelligence? What role will blockchain play in this process?
4. "Exclusive Interview with =nil; Foundation: From MEV to PEV, Market Mechanisms Bring Creative Ideas for ZK Proofs"
Since the Black Mountain EDCON in April, "ZK" has become one of the hottest terms this year, expanding the narrative space brought by Ethereum to new heights. Many believe this will be a new market worth hundreds of billions of dollars, creating more opportunities and wealth stories, such as "ZK mining." Of course, ZK, as a new era that has yet to arrive, also means that many opportunities are difficult for us to accurately identify at present.
What will ZK look like in the future still requires more imagination. The Proof market built by =nil; Foundation has sparked my infinite fantasies about this hundred-billion-dollar era. Recently, I had an in-depth conversation with Mikhail Komarov (hereafter referred to as Misha), co-founder of =nil; Foundation, discussing topics related to =nil; Foundation, zkLLVM, and the Proof market.
