Weekly Review
Ethereum ETF Anticipated Listing:
On July 16, Reuters reported that the U.S. Securities and Exchange Commission (SEC) has preliminarily approved at least three asset management companies (BlackRock, VanEck, and Franklin Templeton) to start trading Ethereum spot ETFs starting next Tuesday. A total of eight asset management companies are looking to launch such funds. The approval depends on the applicant submitting final issuance documents to regulators before the end of this week. Sources suggest that all eight companies may launch these funds simultaneously. Official SEC documents from July 18 confirm the approval of Grayscale Ethereum Mini Trust and ProShares Ethereum ETF for listing on the NYSE Arca electronic trading platform. Issuers are awaiting final comments on their respective S-1 documents before officially listing their spot products.
SEC Considers Ethereum ETF with Staking:
On July 17, Coinage founder Zack Guzmán revealed via social media that SEC Commissioner Pierce indicated that an Ethereum ETF that includes staking might be reconsidered by the SEC. Pierce noted that features like staking could always be reconsidered.
Growing Bets on a Fed Rate Cut:
Several Fed spokespersons, including Williams, Kugler, and Waller, have hinted that a rate cut might be imminent. On July 18, CME’s “Fed Watch” showed a 95.3% probability of the Fed keeping interest rates unchanged in August, with a 4.7% chance of a 25 basis point rate cut. For September, the probabilities were 1.9% for unchanged rates, 93.5% for a 25 basis point cut, and 4.6% for a 50 basis point cut.
Worldcoin WLD Lock-Up Period Extended:
On July 16, the Worldcoin Foundation announced an extension of the WLD token unlock schedule for Tools for Humanity contributors from 3 to 5 years. This move doesn’t affect grants for WLD verified World ID holders. Following the announcement, WLD surged past $3, marking a 24-hour increase of 40.78%.
Binance HODLer Airdrop Project – Banana Gun (BANANA):
On July 19, Binance announced Banana Gun (BANANA) as the first project on its HODLer airdrop portal. Users who subscribed to the BNB Simple Earn product from June 23, 2024, to July 5, 2024, will receive the airdrop allocation. Binance plans to launch BANANA on July 20, 2024, with trading starting shortly after.
Binance.US Approved to Invest Customer Assets in U.S. Treasuries:
Judge Amy Berman Jackson has permitted Binance to invest in BAM Trading Services Inc. and BAM Management US Holdings Inc.’s assets. The cryptocurrency must be transferred to a third-party custodian, and customer fiat funds held with BitGo can be invested in U.S. Treasuries maturing on a four-week basis.
LI.FI Hacked, Losses Near $12 Million:
On July 16, LI.FI confirmed an attack leading to the loss of nearly $12 million in USDC, USDT, and DAI stablecoins. The vulnerability arose from errors during a smart contract update. LI.FI will provide compensation to affected users.
WazirX Hack Involves Over $234 Million in Stolen Assets:
On July 18, WazirX’s multi-signature wallet on the Ethereum network was hacked, resulting in the theft of assets including $100 million in SHIB and $50 million in ETH. The stolen assets have been transferred to a new address and partly liquidated.
Mt.Gox Transfers Bitcoin:
On July 16, Arkham data showed the Mt.Gox address in Mentougou transferred 91,228 BTC to two addresses. Trustee Nobuaki Kobayashi announced that more than half of the creditors have been repaid in BTC and BCH.
Craig Wright Admits Not Being Satoshi Nakamoto:
On July 17, Craig Wright, known as “Australian Satoshi,” publicly admitted that he is not the creator of Bitcoin, Satoshi Nakamoto.
Sanctum Token CLOUD Launched:
On July 18, Solana’s ecosystem liquidity pledge protocol Sanctum issued its token CLOUD, temporarily priced at $0.305.
Trump’s “FEAR NOT” Meme Token:
On July 16, Trump’s social media post stating “FEAR NOT” led to the quick emergence and significant rise of the meme token on the Solana and Ethereum networks.
Bitcoin Magazine CEO Confirms Trump’s Participation in 2024 Bitcoin Conference:
On July 15, Bitcoin Magazine CEO David Bailey confirmed that Trump would attend and speak at the 2024 Bitcoin Conference in Nashville.
Messari Founder’s Controversial Remarks:
On July 19, Messari founder Ryan Selkis posted radical pro-Trump remarks on social media, which led to internal discussions and his subsequent resignation.
Polygon to Convert MATIC to POL:
Polygon announced a mainnet upgrade scheduled for September 4, 2024, which will convert its native token from MATIC to POL. This upgrade aims to address potential issues before going live.
