Daily Report | CME plans to launch Bitcoin spot trading; Grok is now listed in Europe; yesterday was the largest single-day increase for BTC in nearly two months; Blast airdrop will start on June 26

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2024-05-16 20:00:11

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May 16 News Overview

Organizer: Fairy, ChainCatcher

Important News:

"What important events occurred in the past 24 hours"

MakerDAO Founder: The future PureDai token will serve as a fully decentralized alternative to Dai

MakerDAO founder Rune Christensen stated that the future token named PureDai will serve as a fully decentralized alternative to Dai. PureDai will operate exclusively on the Ethereum mainnet and will use Ethereum and Lido staked Ethereum (stETH) as collateral support, fully relying on decentralized oracles. It will also feature a freely floating peg, meaning the decentralized stablecoin may not be pegged to the US dollar. After the launch of PureDai, Dai holders will have the option to upgrade to PureDai, expected to be realized in a few years.

xAI's AI model Grok is now launched in Europe

The official account of X tweeted that xAI's AI model Grok has been launched in Europe.

Tornado Cash developer Alexey Pertsev appeals guilty verdict

According to CoinDesk, Tornado Cash developer Alexey Pertsev has appealed to the s-Hertogenbosch Court after being convicted of money laundering on Tuesday. The first hearing may take several months. The court did not specify whether the appeal was approved.

Data: The total trading volume of 6 Hong Kong virtual asset ETFs today is approximately HKD 44.5 million

The first 6 Bitcoin and Ethereum spot ETFs launched in Hong Kong had a total trading amount of approximately HKD 44.5 million today. Among them: Huaxia Bitcoin ETF (3042.HK): HKD 29.56 million; Huaxia Ethereum ETF (3046.HK): HKD 2.03 million; Harvest Bitcoin Spot ETF (3439.HK): HKD 5.99 million; Harvest Ethereum Spot ETF (3179.HK): HKD 1.88 million; Bosera HashKey Bitcoin ETF (3008.HK): HKD 4.45 million; Bosera HashKey Ethereum ETF (3009.HK): HKD 644,800.

Data: Morgan Stanley discloses $270 million GBTC holdings, making it one of the largest holders of GBTC

According to CryptoSlate, Morgan Stanley disclosed in its Q1 13F filing with the SEC that it invested $269.9 million in a spot Bitcoin ETF through Grayscale's GBTC. According to Fintel data, this investment makes it one of the largest holders of GBTC, following Susquehanna International Group, which invested $1 billion.

RootData: The total amount of transfer orders in the semi-primary market is $202 million, with a quantity ratio of 3.71

Web3 asset data platform RootData stated on social media that there are currently 52 transfer orders in the semi-primary market, with a total amount of $202 million; the demand market has 14 orders totaling $25.5 million. The amount ratio of transfer to demand orders is 7.96, and the quantity ratio is 3.71. The trading amount and volume in the semi-primary market far exceed that of the demand market, indicating that current investors prefer to trade in the transfer market.

Data: Bitcoin's daily increase of 7.5% is the largest single-day increase in nearly two months

According to data from TradingView and CoinDesk, Bitcoin rose over 7.5% yesterday, reaching $66,250, marking the largest increase since March 20. Like other risk assets, Bitcoin is highly sensitive to changes in expectations regarding major central bank monetary policy and rebounds when expected fiat currency borrowing costs decline.

QCP Capital: US CPI data boosts risk asset markets, potentially pushing BTC back to $74,000 high

QCP Capital stated that US CPI data triggered a breakthrough in risk assets, with BTC prices rising above $66,000. They expect this momentum could push prices back to the $74,000 high. Additionally, they noted that institutional demand continues to grow, with large asset management firms Millennium and Schonfeld investing 3% and 2% of their assets under management in BTC spot ETFs, respectively. With significant adoption by sovereign and institutional investors, easing inflation, and the upcoming US elections, this breakthrough may signal the return of a bull market.

CME Group plans to launch Bitcoin spot trading

The Chicago Mercantile Exchange (CME Group) plans to launch Bitcoin spot trading. According to three people directly familiar with the negotiations, CME has already discussed with traders who want to buy and sell cryptocurrencies in a regulated market. The plan has not yet been finalized, and if implemented, it would mark a further incursion of major Wall Street institutions into the digital asset industry. As of now, CME has declined to comment.

Fund management company Boothbay holds nearly $150 million in BlackRock IBIT

Fund management company Boothbay revealed in a filing with the SEC that it holds nearly $150 million worth of BlackRock IBIT shares.

Blast airdrop will start on June 26

Ethereum L2 network Blast announced that its airdrop event will start on June 26, which has exceeded the initially expected May date. They apologize for the delay and will increase the airdrop allocation. There will be two final Dapp Gold distributions before the airdrop.

DeFi protocol Shogun completes $6.9 million seed round financing, token valuation reaches $69 million

According to The Block, DeFi protocol Shogun's developer Intensity Labs has completed a $6.9 million seed round financing, led by Polychain Capital and DAO5, with participation from Arrington Capital, Arthur Hayes' family office Maelstrom, and Build-a-Bera. Additionally, angel investors such as Cobie, Ansem, Ser Shokunin, and Meltem Demirors also participated in this round of financing. Co-founder Rahul Patel stated that this round of financing brings Shogun's fully diluted token valuation to $69 million.

Data: Bitcoin spot ETFs had a total net inflow of $303 million yesterday, with an ETF net asset ratio of 4.23%

According to SoSoValue data, Bitcoin spot ETFs had a total net inflow of $303 million yesterday (Eastern Time May 15). Yesterday, Grayscale's ETF GBTC had a net inflow of $27.046 million, and the historical net outflow for GBTC is $17.657 billion.

"What are the exciting articles worth reading in the past 24 hours"

Lawyer's Interpretation: Major Revision of Anti-Money Laundering Law, Current Security Risks in Six Major Tracks of Web3.0 Industry

This section explains the inherent security risks of the Web3 industry and the risks of these industries potentially being used as tools for money laundering from the perspective of six major tracks of Web3. It aims to reveal potential threats within the industry and raise awareness among practitioners regarding anti-money laundering risk awareness and legal compliance.

Public chains, cross-chain bridges, trading platforms, wallets, DeFi, and NFTs are the six main tracks of the Web3 industry, with a total of 435 security incidents occurring in 2023, resulting in losses of approximately $7.983 billion (approximately 57.8 billion RMB).

"Hitting" VCs, the crypto field becomes a "wealth bible" for KOLs

Recently, discussions about KOLs and VCs have been endless. KOLs often have shorter lock-up periods and lower valuation discounts, but compared to VCs, which require substantial monetary investment and resource sharing in sales, operations, and technology, KOLs often seem to fulfill their obligations merely by posting a few tweets.

In response, some VCs have voiced their grievances, and even retail investors believe that KOLs are more likely to gain benefits in a bull market. But is this really the case?

How to view the transformation and upgrade of Cyber?

How to view @BuildOnCyber's protocol upgrade to focus on social layer2 public chain------Cyber? After completing a series of staking and restaking community incentive activities, the new social public chain built by CyberConnect based on OP Stack has officially launched. What potential impacts will the new chain Cyber bring? Next, I will briefly share my views.

Is Vietnam, known as a "tax haven," a fertile ground for the development of the crypto industry?

Taxation plays a crucial role in any industry, stimulating or hindering retail investor participation. For example, in Japan, despite government measures to promote the Web3 industry, high taxes of up to 50% on crypto transactions have suppressed trading volumes. India imposes a 30% tax on crypto gains and an additional 1% tax at source, similarly hindering investor participation.

In contrast, Vietnam faces different challenges, characterized by ambiguous tax regulations that bring uncertainty to market prospects. This report will delve into Vietnam's crypto taxation environment, assessing the potential opportunities and challenges brought about by these policies (or lack thereof).