Insight into the Blockchain Landscape on June 28 2024

Bijie.com reported:
00:00-08:00
Keywords: Innovation Cryptography Committee, Head of the UK: The UK needs to take quick action to regulate cryptocurrency companies, View: Ethereum’s L2 ecosystem will process transactions 100 times that of Solana in 5 years, Former US Congressman Tulsi Gabbard: BTC is a “form of independent and transparent currency not controlled by the government,” MegaETH developer MegaLabs completes a $20 million seed funding round, Variant Fund’s Chief Legal Officer: The SEC may reject the SOL ETF application due to a lack of futures market, Dragonfly Capital Partner: The SEC has clearly stated that SOL is a security and will not abandon this decision, Wintermute founder: It’s difficult for SOL ETF to be approved this year, decentralized cross-chain oracle network developer AnchorZero completes an $8 million seed funding round, Galaxy Digital: It is expected that $7.5 billion will flow into the spot Ethereum ETF in the first five months, BlackRock’s Global Allocation Fund held 43,000 shares of iShares Bitcoin Trust as of the end of April, BlackRock: Investors use Bitcoin to hedge geopolitical uncertainty, BlackRock’s IBIT position has remained unchanged for two consecutive trading days, Coinbase denies customer data leakage, Au10tix employee credentials leakage raises security concerns
1. Report: MegaETH developer MegaLabs announces the completion of a $20 million seed funding round, with Dragonfly leading the investment, along with Figment Capital, Robot Ventures, Big Brain Holdings, as well as angel investors such as Vitalik Buterin, ConsenSys co-founder and CEO Joseph Lubin, EigenLayer co-founder and CEO Sreeram Kannan, ETHGlobal co-founder Kartik Talwar, Helius Labs co-founder and CEO Mert Mumtaz, Santiago Santos, Hasu, and Jordan Fish (also known as Cobie). It is reported that MegaETH’s public test network will be launched in early autumn, and the main network is expected to be launched by the end of the year.
2. Report: Variant Fund’s Chief Legal Officer Jake Chervinsky said, “I guess the U.S. Securities and Exchange Commission (SEC) will reject the SOL ETF application due to a lack of futures market.” Dragonfly Capital Partner Hasseb Qureshi also said there are better reasons to prove that BTC and ETH-based ETFs meet the SEC’s market surveillance requirements, as the trading of these assets in the future market is already well developed, but if there is no listing of futures market, the market surveillance standards cannot be met.
3. Report: Dragonfly Capital Partner Hasseb Qureshi said it is unlikely that the SOL ETF will be approved, and he believes that VanEck’s submission of the SOL ETF application may only be “buying goodwill” to lay the foundation for the development of similar products, as the U.S. Securities and Exchange Commission has clearly stated that SOL is a security, and regulatory agencies will not abandon this decision.
4. Report: Wintermute founder and CEO Evgeny Gaevoy said on the X platform that the possibility of SOL ETF being approved this year is almost zero (wishfully thinking that this would become a priority for the Trump administration is quite foolish). Wintermute is a long-term supporter of SOL and ETH, but it should not be overly hyped, and a realistic approach is needed, as the adoption of cryptocurrencies takes time. Once you really see the inflow of funds into the ETH ETF, you will understand that even if the SOL ETF is approved, the inflow of funds will be much less. Earlier news, asset management company VanEck submitted the first Solana ETF application in the United States.
5. Report: Decentralized oracle network developer AnchorZero announced the completion of an $8 million seed funding round, with Bain Capital Crypto and Spark Capital leading the investment, and participation from Ethereal Ventures, Robot Ventures, Mischief Fund, Pascal Capital, and Sarah Meyohas, with specific valuation information yet to be disclosed. AnchorZero is a blockchain technology company specializing in the development of decentralized cross-chain oracle networks, providing secure and reliable price feed data services for smart contracts, allowing access to external data for smart contracts on multiple platforms, and also providing Web3 tax planning solutions.
6. Report: Galaxy Digital’s research vice president Charles Yu said in a report that it is expected that up to $7.5 billion will flow into the spot Ethereum ETF in the first five months. Yu wrote that from its launch to June 15, the net inflow of the Bitcoin ETF reached $15.1 billion. If his prediction is correct, similar inflows of Ethereum-based funds may be between $3 billion and $7.5 billion. This is consistent with the prediction of Bitwise’s Chief Investment Officer Matt Hougan, that a US spot ETH ETF may attract a net inflow of $15 billion in the first 18 months after its launch. Yu added, “We believe that the launch of the spot Ethereum ETF will have a significantly positive impact on the market adoption of Ethereum and the broader cryptocurrency market.” He pointed out that the ETF will help to legitimize Ethereum in the eyes of institutional investors, policymakers, and regulators. He said that the demand may be driven by independent investment advisors and brokerage platform proprietaries.
7. Report: In documents submitted to the US Securities and Exchange Commission on June 27, BlackRock’s Global Allocation Fund disclosed that as of April 30, 2024, the fund held 43,000 shares of iShares Bitcoin Trust (IBIT). Earlier, BlackRock submitted two documents on May 28, disclosing its Bitcoin exposure in the Strategic Global Bond Fund and the Strategic Income Opportunity Investment Portfolio.
8. Report: According to Bitcoin Archive on the X platform, BlackRock stated that Bitcoin is an “emerging asset” that investors use to hedge geopolitical uncertainty.
9. Report: BlackRock’s official spot Bitcoin ETF data shows that as of June 26, IBIT’s market value reached $18,584,300,966.09, and the position remained unchanged for two consecutive trading days.
10. Report: US Securities and Exchange Commission (SEC) Chairman Gary Gensler recently said that the earliest expected listing date for a spot Ethereum ETF will be in September.


11. Report: The Biden campaign team has hired Keisha Lance Bottoms as a senior advisor for the 2024 presidential election. Lance Bottoms served as the mayor of Atlanta from 2018 to 2022, and joined the Coinbase Advisory Board in April 2024, having resigned from her position as a White House advisor in 2023. The Hill reported on June 27 that Lance Bottoms will continue to be involved with Coinbase during the Biden presidential campaign, which is expected to end with the US voter election in November. The news media reported that the former mayor stated that cryptocurrency is a “non-political, unifying issue.” It is currently unclear whether Lance Bottoms will provide advice on cryptocurrency-related issues to the Biden campaign team. According to The Hill, Lance Bottoms previously said at a Stand With Crypto Atlanta event, “Cryptocurrency provides an opportunity for strengthening financial freedom for communities that typically do not have bank accounts or have insufficient bank accounts.”
12. Report: The Labour Party, expected to win the upcoming election, has not taken a clear stance on digital assets. Laura Navaratnam, head of policy for the Innovation Cryptography Committee in the UK, said the new government needs to act quickly to ensure that the UK’s leadership position in global cryptographic innovation is not weakened. Over the past 15 years, the Conservative government has steadily supported the UK’s cryptographic ecosystem. Former Treasury Secretary John Glen and his successors Andrew Griffith and Bim Afolami have promised to make the UK a global hub for cryptographic asset technology. Navaratnam suggested that the new government immediately focus on stablecoin regulation, clarity of staking regulation, and financial promotion guidance. She also warned that if the new government does not act quickly, the UK will lose its global leadership position in innovation.
13. Report: Former US Congresswoman Tulsi Gabbard will speak at the Bitcoin 2024 conference in Nashville, stating that BTC is a “form of independent and transparent currency not controlled by the government.”
14. Report: A proposed Exchange Traded Fund (ETF) submitted a prospectus on Thursday, aiming to allow traders and investors to invest in Bitcoin and gold without having to purchase any of the assets. The STKD Bitcoin&Gold ETF was jointly launched by Tidal Investments and Quantify Chaos Advisors, aiming to provide investment opportunities for Bitcoin and gold price performance through Bitcoin and gold futures and ETFs. According to the prospectus, the strategy is based on the idea that combining investment strategies for Bitcoin and gold may bring complementary benefits. It aims to reduce the impact of short-term market volatility on overall investment results, potentially providing a more stable investment trajectory. The effective date specified for this ETF is September 9, 2024, but does not include the stock code or any related fees.
15. Report: Stripe and Coinbase announced a partnership to increase on-chain adoption and provide faster, cheaper financial infrastructure. Stripe will add support for Base in its crypto product suite, providing users with faster and cheaper remittance services, while Coinbase will add Stripe’s fiat-to-crypto gateway to Coinbase Wallet, allowing users to purchase cryptocurrencies immediately using credit cards and Apple Pay.
16. Report: Coinbase, a cryptocurrency exchange, today denied that its customer data has suffered any leakage in response to the compliance platform Au10tix’s employee credentials leakage event. Au10tix stated that although credentials were leaked, there is currently no evidence that the data has been misused. The report stated that these credentials may allow hackers to obtain sensitive information about users, such as names, dates of birth, and driver’s license images. Au10tix has removed the relevant credentials and strengthened security measures to prevent a similar incident from happening again. Coinbase has not confirmed whether it uses Au10tix to store customer data but insists that no data leakage has been found.
17. Report: S&P Global Ratings announced its participation in Singapore’s “Guardianship Plan,” which aims to explore tokenization on public blockchains. Led by the Monetary Authority of Singapore (MAS), the plan has brought together 18 financial institutions and regulatory bodies. S&P will focus on developing a digital asset analysis framework and evaluation in the fixed income sector. Several financial institutions are conducting experiments related to fixed income, reflecting the push for the financial market’s digitization.
18. Report: Analyst Ryan Berckmans said that despite the market downturn, the Ethereum L2 expansion ecosystem is growing rapidly. Berckmans pointed out that L2 protocols and EVM expansion platforms are rapidly gaining popularity, with Coinbase, Worldcoin, and Immutable X all launching EVM L2. He predicted that the transaction throughput of L2 will exceed that of Solana by 100 times in the next five years. Currently, the total locked value of all L2 protocols is $42.86 billion, and this figure has remained stable since March, despite the cryptocurrency market downturn.
19. Report: Bolivia has lifted the ban on Bitcoin and cryptocurrency payments, formally legalizing them for financial entities.
20. Report: ETF analyst Henry Jim wrote that 21Shares has submitted an 8-A12B file for its spot Ethereum ETF.
21. Report: According to Farside Investors, data from the US spot Bitcoin ETF on June 26 showed that GBTC had a net outflow of $11.4 million, while BITB had a net inflow of $8 million.
22. Report: Hedge fund Baupost has fired nearly a fifth of its investment staff.