Miniprogram: Daily Cryptocurrency News Summary
JD will issue a stablecoin based on public blockchain and pegged to HKD 1:1 in Hong Kong.
JD will issue a stablecoin pegged to HKD 1:1 in Hong Kong. According to the official website of JINGDONG Coinlink, a subsidiary of JD Technology Group, the JD stablecoin is a stablecoin based on public chain and pegged to HKD 1:1, which will be issued on the public blockchain. The reserve of JD stablecoin consists of highly liquid and trustworthy assets, which are securely stored in independent accounts of licensed financial institutions. The integrity of the reserve is strictly verified through regular disclosure and audit reports. On July 18, the Hong Kong Monetary Authority published a list of stablecoin issuers participating in the sandbox, among which JINGDONG Coinlink was included.
A household Bitcoin mining machine with a capacity of 500 Gh/s has successfully mined a Bitcoin block.
According to a post by Altair Technology, a Bitcoin mining equipment retailer, a Bitcoin mining device with a hash rate of only 500 Gh/s successfully mined a block on July 24. Based on the current Bitcoin price, the block is worth about $206,000. The post said: "Congratulations to this miner for using Bitaxe with a hash rate of about 500Gh/s on @ckpooldev to mine the first single BTC block." The device named "Bitaxe" successfully mined a block, even though the probability of doing so every ten minutes is only one in a billion.
U.S. Vice President Harris will not speak at the 2024 Bitcoin conference.
David Bailey, CEO of the 2024 Bitcoin conference, said on X platform: "U.S. Vice President Harris will not speak at the 2024 Bitcoin conference. This is not surprising. What can she say to us when she actively imprisoned developers, forced our industry overseas, and attacked Proof-of-Work (PoW)... This would have been a disaster for her. Now, everyone is focused on Trump."
The International Criminal Police Organisation has issued a red notice against "Coin Master" Huang Zhejie.
According to Hong Kong media Oriental Daily News, Huang Zhejie, also known as "Coin Master", who became famous for throwing money off a rooftop in Sham Shui Po, has been issued a red notice by Interpol. The website of Interpol shows that he is suspected of committing one count of fraud and two counts of theft. The information in the warrant indicates that the person being sought is 30 years old and comes from "China Hong Kong". Another person, Mo Juntin, who was accused of assisting Huang, has also been issued a red notice. Mo Juntin was involved in the JPEX fraud case last year and was associated with the Australian registered company "JP-EX Crypto Asset Platform Pty Ltd". He is charged with two counts of handling property known or believed to represent the proceeds of a crime which is capable of being prosecuted.
Ferrari will expand its crypto payment service to Europe by the end of July.
According to CoinDesk, Ferrari will expand its crypto payment service to Europe by the end of July. The luxury sports car manufacturer, headquartered in Maranello, Italy, began accepting cryptocurrencies in the United States in collaboration with BitPay last October. Accepted tokens include Bitcoin, Ethereum and USDC. Reuters quoted a statement from Ferrari as saying that the company is currently expanding the program to Europe "to better meet the changing needs of our dealers and customers." The company plans to expand the service to other markets by the end of 2024.
Senator Lummis plans to announce legislation to designate Bitcoin as a strategic reserve asset at the Bitcoin conference.
According to FOX Business, Cynthia Lummis, the senator from Wyoming, plans to announce legislation at the Nashville Bitcoin conference that would require the Federal Reserve to hold Bitcoin as a strategic reserve asset. Lummis' plan is still uncertain and the announcement may be postponed. The move aims to make Bitcoin a mainstream financial asset and gain the support of the president and Congress. Lummis' team hopes that Trump will support the bill and announce the news at the conference on Saturday. Earlier this week, it was reported that Senator Cynthia Lummis hinted at a major Bitcoin-related announcement this week.
An individual miner has successfully processed block 853,742 and received a block reward worth about $210,000.
According to Decrypt, a solo Bitcoin miner successfully processed block 853,742 and received a block reward worth about $210,000. The miner processed a block containing 4,365 transactions and received a 3.19 BTC reward. Although the probability of a single miner successfully processing a block is extremely low, this lucky event shows that individual miners still have a chance to earn substantial returns from the Bitcoin network. Such events are extremely rare, with the last similar case occurring in April this year when a miner won a reward of $218,500.
In the first half of this year, Sygnum's spot trading volume of cryptocurrencies doubled, and the trading volume of derivative products increased by 500%.
According to The Block, a report released by digital asset bank Sygnum on Wednesday showed that its spot trading volume of cryptocurrencies doubled in the first half of this year, and the trading volume of encrypted derivatives increased by 500%. The number of loans increased by over 360% compared with the same period last year. Driven by this, the company achieved profitability in the first half of this year. At the same time, Sygnum's "pledging as a service" product has also seen significant growth, with the proportion of Ethereum pledged by customers increasing to 42%. Sygnum currently has about US$4.5 billion in client assets and more than US$0.125 billion in core equity capital. Sygnum has licenses in Luxembourg, Singapore, and Switzerland, and plans to obtain new licenses in Europe under new regulations for encrypted assets (MiCA), and plans to expand its regulated business in Hong Kong. Earlier, Sygnum completed more than US$40 million in financing in January this year, with a valuation of US$0.9 billion.
Binance: ETH prices may be more sensitive to ETF inflows than BTC, which may lead to more severe price fluctuations. Binance stated in a blog post that the approval of the spot ETH ETF is expected to greatly increase demand and push up the price of Ether, similar to the trend of Bitcoin ETFs. Due to pledges and smart contracts causing a tightening of the supply of ETH on exchanges, ETH prices may be more sensitive to ETF inflows than BTC, which may lead to more severe price fluctuations. Restrictions imposed by the SEC on the ETH pledged by ETFs may lead to cryptocurrency-savvy investors preferring direct pledge, which may suppress some of the demand for ETFs and cater to different investor audiences.
Hashdex has submitted an S1 document to the SEC to establish a cryptocurrency index-based ETF for its Bitcoin and Ethereum ETF, which will hold Bitcoin and Ethereum, but may hold more assets based on regulatory environment in the future. Once approved, the fund will be listed and traded on Nasdaq, with Coinbase Custody and BitGo Trust serving as custodians.
10x Research: The bull market before the listing of Ethereum ETF has ended, and the market has adopted a "selling news" trading pattern. The report emphasizes the following points: 1. The listing of the Ethereum ETF coincides with the beginning of the delivery of Bitcoin in Mt.Gox, which may bring selling pressure to the cryptocurrency market. 2. The U.S. technology stock earnings season did not start well, and 40% of market cap companies will announce their results next week, with expectations possibly too high. 3. Ethereum's fundamentals (new users, revenue, etc.) are stagnant or declining, which may become a weakness in the market. 4. Ethereum has fallen 6% since the ETF was listed, in line with the bearish expectations of the institution. If this trend continues, the cryptocurrency market may need more bullish support to regain its momentum.
Founder of Skybridge Capital, Anthony Scaramucci tweeted that Vice President Kamala Harris holds an open attitude towards cryptocurrency and is expected to take a more moderate approach to cryptocurrencies. Scaramucci believes that attacks on Bitcoin within the Democratic Party mainly come from Elizabeth Warren and her supporters. Scaramucci also urged to maintain bipartisan support for cryptocurrencies to facilitate the long-term healthy development of the ecosystem.
The uptrend before the listing of Ethereum ETF by 10x Research has ended, and the market has adopted a "selling news" trading pattern.
Research institute 10x Research released a report stating that the uptrend before the listing of Ethereum ETF has ended and the market has adopted a "selling news" trading pattern. The report emphasizes the following points: 1. The listing of Ethereum ETF coincided with the bitcoin distribution of Mt. Gox, which may bring selling pressure to the cryptocurrency market. 2. The start of the US technology stock earnings season is not good, with 40% of market-cap companies expected to report performance next week. 3. The fundamentals of Ethereum (new users, income, etc.) have stagnated or declined, which may become a weak point in the market. 4. Ethereum has fallen 6% since the ETF was listed, which is in line with the institute's bearish expectations. 10x Research believes that if this trend continues, the cryptocurrency market may need more bullish support to regain its upward momentum.
Skybridge Capital’s Spot trading volume of cryptocurrencies doubled in the first half of the year, and the trading volume of derivative products increased by 500%.
Binance believes ETH prices may be more sensitive to ETF inflows than BTC, leading to more severe price fluctuations.