Construction of Chongqing National Blockchain Innovation Application Comprehensive Pilot (Yuzhong District) started
On June 24, the kick-off meeting for the construction of the Chongqing National Blockchain Innovation and Application Comprehensive Pilot (Yuzhong District) was held in Yuzhong District. This pilot will focus on four key directions: technology platform, application service, industrial ecology and safety supervision Create 28 application scenarios of blockchain, highlight the construction of technology ecology, industrial ecology, standard system, and talent system, promote the application of blockchain in government, commercial, and civilian fields, mine and release data value, and promote the high-quality development of the city’s digital economy .
Harmony founder: Horizon was attacked due to leaked private keys, and has moved to stricter multi-signature
On June 26th, Harmony founder stephen tse updated the incident that “the cross-chain bridge Horizon between Harmony and ETH was attacked”, saying that there is no evidence of any loopholes found on the Horizon platform, and the consensus layer of the Harmony blockchain is secure. The team found evidence that the private key was compromised, leading to the Horizon attack. Funds were stolen from the Ethereum side of the cross-chain bridge. The attacker successfully accessed and decrypted some of these keys, some of which were used to sign unauthorized transactions. The stolen assets included BUSD, USDC, ETH, and WBTC. Since the incident, Harmony has migrated the Ethereum side of the Horizon bridge to 4/5 multisig (4 out of 5 required). Harmony will continue to take steps to further enhance operational and infrastructure security. As previously reported, a Polygon security researcher tweeted that hackers may complete the multi-signature process by invading the Horizon bridge hot wallet server.
On June 25, JPMorgan’s strategy team led by Nikolaos Panigirtzoglou recently released a report saying that if Bitcoin miners fail to improve their profitability, they will choose to continue to sell Bitcoin in order to meet ongoing costs or deleverage, which may be the case. will continue until the third quarter of this year. Currently, pressures such as soaring global electricity costs and an overall lower crypto market are hitting the profitability of crypto miners, who are trying to boost profits by cutting costs and selling some bitcoin. In addition, Bitcoin miners will also face enormous pressure from creditors and other counterparties, and those who obtain funds through highly leveraged borrowing can trigger an even larger chain reaction, leading to the bankruptcy of cryptocurrency lending service providers and hedge fund companies. . (Yahoo Finance)
On June 25, Ripple CEO Brad Garlinghouse said at The Collision Conference in Toronto that if it loses a lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against the company, Ripple may Move completely outside the US. Separately, Garlinghouse has previously said that once the lawsuit is resolved, Ripple will explore the possibility of an initial public offering (IPO). As previously reported, on June 23, Ripple announced the opening of a new office in Toronto, Canada as an engineering center. This office is Ripple’s first office in Canada to support its development in North America and other regions. The office currently plans to hire 50 engineers in Toronto and eventually expand to hundreds of blockchain software engineers, including machine learning application scientists, data scientists and product managers.
On June 25th, BitMEX founder Arthur Hayes posted on social media that unless Goldman Sachs makes it clear, please do not believe that Goldman Sachs is putting its funds at risk. What Goldman is doing is consulting what banks should be doing, bringing together a group of investors and helping them frame the purchase of distressed assets for huge fees. If the tool does actually acquire assets from Celsius Network and enable withdrawals again, the community can rejoice that creditors get some of their money back, Hayes said. This will restore market confidence and provide more support for the cryptocurrency to start a bull run. But again, he cautioned that any and all bailouts should be viewed as PR stunts until actual funds are deployed and actual savers can withdraw some or all of their funds from the bankrupt centralized crypto lender.
Crypto companies have raised over $26.4 billion in the past five months, triple the amount in the same period last year
Cryptocurrency and blockchain companies raised at least $26.4 billion in 992 deals in the first five months of the year, up from $8.8 billion in the same period last year, according to data from crypto funding database Dove Metrics. three times. Between January and May, the largest share of global cryptocurrency funding came from infrastructure (34%), followed by centralized finance (26.3%).
Goldman Sachs is seeking to raise $2 billion from investors to buy distressed assets from troubled crypto lending platform Celsius, two people familiar with the matter said. The proposed deal would allow investors to buy the company’s assets at a potentially steep discount when it files for bankruptcy, the people said. Celsius has hired restructuring consultancy Alvarez & Marsal, The Wall Street Journal reported Friday. In addition, Goldman Sachs appears to be seeking funding commitments from Web3 crypto funds, funds specializing in distressed assets and traditional financial institutions with ample cash on hand, according to people familiar with the matter. Celsius, which had lent more than $8 billion to customers and had $12 billion in assets under management as of May this year, abruptly announced on June 12 that it would stop withdrawals from its platform, citing “extreme market conditions.”
Crypto lender Celsius Network has hired more advisers to prepare for a potential bankruptcy, sources said on June 25. Celsius has hired restructuring advisors from consulting firm Alvarez & Marsal to advise on a possible bankruptcy filing. The company, which had $11.8 billion in assets and 1.7 million users as of May, froze withdrawals, swaps and transfers earlier this month due to extreme market volatility. (Wall Street Journal)
On June 24, the crypto trading platform Crypto.com stated on its official social platform that U.S. users have been able to directly purchase cryptocurrencies in the Crypto.com APP through Apple Pay.
According to official news, Evmos Name Service (EVNS) announced the end of the testnet, and the distribution of testnet rewards will start at the end of July 2022. The mainnet will be launched at 12:00 UTC on June 24th (20:00 Beijing time).
According to the news on June 24, according to RTHK, Liu Yingbin, vice president of the Hong Kong Monetary Authority, said that the prices of some stablecoins have been relatively volatile recently, which is to send a clear warning to the market, indicating the risks that may be derived from the relevant assets. Liu Yingbin mentioned in a forum that encrypted assets are growing rapidly and currently account for about 2% of global financial assets. Since related assets can be used for payment and transactions, have a wide range of uses, and are closely linked to the mainstream financial system, the related challenges cannot be underestimated. Regulatory Framework. The HKMA plans to adopt a “same risk, same supervision” approach to regulate relevant institutions and activities, and the process will refer to the practices of other jurisdictions. (Golden Ten)
On June 24, according to the British Financial Times: SEC Chairman Gensler urged the development of an encryption rulebook. SEC Chairman Gensler is negotiating crypto rules with the U.S. Commodity Futures Trading Commission (CFTC). (Golden Ten)
Horizon, the cross-chain bridge between Ethereum and Harmony, was attacked, causing a loss of about $100 million
On June 24, Horizon, an asset cross-chain bridge developed by the Layer1 public chain Harmony, between Ethereum and Harmony was attacked, and the loss amounted to about 100 million US dollars. Harmony said it is currently working with relevant authorities and experts to track down the attackers and recover the stolen assets. In addition, Harmony said the trustless Bitcoin cross-chain bridge was not affected, and the exchange has been notified and suspended the Horizon cross-chain bridge. The attacker’s address is 0x0d043128146654C7683Fbf30ac98D7B2285DeD00.
Coinbase Derivatives Exchange will launch its first crypto derivatives product this month in hopes of attracting more retail traders, Golden Finance reported. Coinbase will launch its first cryptocurrency derivative Nano Bitcoin Futures (BIT) on June 27 on CFTC-regulated futures exchange Coinbase Derivatives (formerly FairX), according to a statement. “The global crypto derivatives market is worth $3 trillion, and additional product development and accessibility will unlock significant growth,” the statement said. Earlier this year, Coinbase acquired FairX to launch crypto derivatives. Following regulatory approval in late 2020, FairX launched its futures trading platform in May 2021. Coinbase said the company is also awaiting regulatory approval for its Futures Commission Merchant (FCM) license to offer clients margin futures contracts. (coindesk)
Deutsche Börse is launching a new data source covering real-time and historical tick-level data for all digital assets covered by all cryptocurrency exchanges and cryptocurrency market data provider Kaiko, Golden Finance reports. In Q4, T+1-based historical L2 order-level order data and real-time trade data will be available through the distribution network of Deutsche Börse’s Market Data+ service, followed by the introduction of historical order data T+ on selected digital asset exchanges 1 Foundation. Kaiko collects real-time trading data for spot and derivatives markets from over 100 centralized exchanges (CEX) and decentralized exchanges (DEX). The company covers about 96% of timeshare data from various DEXs and includes most blockchain protocols like Ethereum or Avalanche. Data collected from CEX includes over 150,000 spot and derivatives market instruments.
Solana Labs CEO Anatoly Yakovenko announced at an event in New York City that his team is developing Saga, a new Android phone focused on Web3 that will include a Web3 dapp store, integrated “Solana Pay” To facilitate QR code-based on-chain payments, a mobile wallet adapter, and a “seed vault” (for storing private keys). Anatoly Yakovenko said it will cost around $1,000 and deliveries are scheduled to begin in early 2023. In addition, the Solana Foundation has committed $10 million to incentivize developers to build applications using its Solana Mobile Stack (SMS).
On June 23, Fed Chairman Powell said that we have done a lot of work in exploring central bank digital currencies. We should be exploring this issue on behalf of the nation, and we plan to do policy and technical work on central bank digital currencies over the next few years and make recommendations to Congress. He also mentioned that the people suffer from high inflation. In hindsight, the Fed underestimated inflation. The Fed’s intention is to achieve a soft landing. The Fed’s commitment to fighting inflation is unconditional.
On June 23, Binance announced that it has established a multi-year exclusive partnership with Portuguese star Cristiano Ronaldo (Cristiano Ronaldo), and will issue a series of NFT collectibles on the Binance NFT platform. The first series will be created in cooperation with Ronaldo. Iconic design.
Golden financial news, Italian high-end luxury brand Gucci purchased $25,000 of NFT market SuperRare token RARE to join SuperRare DAO. Gucci’s participation in the DAO will launch the “Vault Art Space” exhibition, which will include a selection of NFT artworks by 29 artists. (Coindesk)
News on June 23, Glassnode data shows that the current number of ETH profitable addresses (7-day average) is 41,719,859.464, reaching a 19-month low.