Planet Daily | Federal Reserve Kashkari: The number of interest rate cuts in 2024 is expected to be no more than two; Mt

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Planet Daily | Federal Reserve Kashkari: The number of interest rate cuts in 2024 is expected to be no more than two; Mt


Feds Kashkari: No more than two rate cuts expected in 2024

Kashkari of the Federal Reserve said that he does not think a weak economy is needed to reduce inflation, and the number of interest rate cuts in 2024 is definitely expected to be no more than two (Golden Ten).

Mt. Gox confirms Bitcoin transfer in preparation for October 31 creditor repayment deadline

Documents released by Mt.Gox show that Mt.Gox confirmed that the previous transfers were intended to prepare for the creditor repayment deadline on October 31.
According to its filing, under the rehabilitation payment plan, the Rehabilitation Trustee is preparing to reimburse the portion of rehabilitation claims that are allocated cryptocurrency. Such reimbursement means, at the option of the rehabilitation creditors, either (i) reimbursement through, for example, a designated cryptocurrency exchange that receives Bitcoin and Bitcoin Cash on their behalf, or (ii) reimbursement through proceeds from the sale of Bitcoin and Bitcoin Cash.
Recently, the Rehabilitation Trustee has received inquiries/deep concerns regarding the status of managing Bitcoin and Bitcoin Cash. However, at present, the Rehabilitation Trustee has neither carried out the repayment in (i) through designated cryptocurrency exchanges, etc., nor sold Bitcoin and Bitcoin Cash to carry out the repayment in (ii). The Rehabilitation Trustee currently manages Bitcoin and Bitcoin Cash in a safe manner. As the Rehabilitation Trustee is preparing for the above repayment, please wait patiently for the repayment to be completed. (Cointelegraph)
Earlier news, CryptoQuant researcher Axler Adler Jr posted on the X platform that all BTC funds in the Mt.Gox cold wallet have been transferred to a new wallet starting with 1 JbezD. The current balance of the wallet starting with 1 JbezD is 141,000 BTC.

Volatility Shares Leveraged Ethereum ETF Approved, to Start Trading on June 4

Volatility Shares announced that its 2 x Ether ETF (ETHU) will become the first leveraged Ethereum ETF in the United States, with trading set to begin on June 4. Volatility Shares previously launched the Volatility Shares 2 x Bitcoin Fund in June 2023.
Stuart Barton, chief investment officer of Volatility Shares, said in an interview that the companys successful approval of a leveraged Ethereum ETF may help pave the way for the eventual approval of a spot Ethereum ETF. (CoinDesk)

Industry News

Former FTX Exec Ryan Salame Ordered to Pay Over $11 Million in Disgorgement and Restitution in addition to Prison Term

According to the U.S. Department of Justice website, U.S. Attorney for the Southern District of New York Damian Williams announced today that Ryan Salame, CEO of FTX Digital Markets Ltd., a subsidiary of FTX in the Bahamas, was sentenced to 90 months (7.5 years) in prison. In addition to imprisonment, Ryan Salame was sentenced to three years of supervised release and ordered to pay more than $6 million in forfeiture and more than $5 million in compensation. (

Ryan Salame, former CEO of FTX Bahamas subsidiary, sentenced to 7.5 years in prison

Ryan Salame, former CEO of FTX Bahamas subsidiary, was sentenced to 7.5 years in prison. Ryan Salame reached a plea agreement with federal prosecutors in September. He had previously admitted to violating campaign finance laws and operating an unlicensed money transmitter. Prosecutors initially believed that Ryan Salame, former CEO of FTX Bahamas subsidiary, should be sentenced to 5-7 years in prison. (Bloomberg)

Hong Kong Securities and Futures Commission: The non-violation period for operating virtual asset trading platforms in Hong Kong will end on June 1

The Hong Kong Securities and Futures Commission (SFC) has issued a statement on the end of the non-violation period for virtual asset trading platforms. The SFC reminds the public that the non-violation period applicable to virtual asset trading platforms operating in Hong Kong under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) (the Anti-Money Laundering Ordinance) will end on June 1, 2024.
All virtual asset trading platforms operating in Hong Kong must be licensed by the SFC under the Anti-Money Laundering Ordinance, or be applicants for virtual asset trading platforms that are deemed to be licensed. Operating a virtual asset trading platform in Hong Kong in violation of the Anti-Money Laundering Ordinance is a criminal offense, and the SFC will take all appropriate actions against any illegal acts.
In the coming months, while applicants for virtual asset trading platforms that are deemed to be licensed continue their applications, the SFC will conduct on-site inspections to determine whether they have complied with the SFCs regulatory requirements, with particular attention paid to their client asset protection and know-your-client procedures. The SFCs move is aimed at protecting the interests of investors, and the inspection results will affect the license application process. Similarly, if any violation of the key regulatory requirements on investor protection is found during the inspection, the SFC will promptly reject the relevant license application and take other regulatory actions as appropriate.

Project News

ZKasino: ETH will be refunded at a 1:1 ratio to bridgers that do not participate in ZKAS conversion

According to official news, ZKasino announced that it will launch a 2-step bridge return process, where bridgers can register and return ETH at a 1:1 ratio.
It is reported that for bridgers who choose not to participate in the ZKAS conversion, the process of bridging ETH has been initiated. Bridgers can register by depositing the first batch of ZKAS bridge rewards they received. Bridgers have 72 hours (UTC time May 28 14:00 to May 31 14:00) to register.
Bridgers can find their ZKAS on the ZKasino EVM chain and can deposit ZKAS into a smart contract controlled by ZKasino. Registration data will be collected in the next few days. A new announcement will be released as soon as possible to provide data for public verification. The data will show which addresses can claim their ETH, and the claim portal will be opened after the data is verified. Bridgers will be able to claim their ETH at a 1:1 ratio from the new audited bridge contract on the Ethereum mainnet.

Sei Foundation: Phase 2 airdrop will distribute more than 27.42 million SEI, and airdrop eligibility query is now open

According to official news, the Sei Foundation announced that the Phase 2 airdrop will distribute 27,421,200 SEI to 43,052 independent addresses to reward active users since the launch of the Sei mainnet, including stakers, liquidity stakers, and NFT collectors.
Users can now check if they are eligible for the airdrop via the official website, and community members must confirm their eligibility before the start of Phase 3 of the Sei V2 release. Phase 3 is expected to take place in the coming weeks.
Earlier news, Sei posted on the X platform that the first parallel EVM blockchain is now open to builders and early adopters, and V2 upgrade Phase 2 (Alpha Launch) is now open.

Starknet Foundation launches 20 million STRK token incentive plan for leading ecological projects

As part of the Catalyst program, the Starknet Foundation announced that it will distribute 20 million Starknet (STRK) tokens, worth approximately $25.2 million, to the 21 best performing projects in the ecosystem.
Diego Oliva, CEO of the Starknet Foundation, said that the program chooses to reward top user-oriented protocols based on a variety of factors, which are weighed by the Stark Foundation and independent third parties, and a series of indicators with different weights are designed, such as the total value locked, fees generated, active users, external funds, and security audits. (Cointelgraph)

Polygon Co-founder: Most of the work to transform Polygon to the ZK protocol has been completed

Polygon co-founder Sandeep said on the X platform that he has been doing a lot of strategic things for Polygon in the past 18 months, especially completely transforming Polygon into the head ZK protocol. He is not sure that most of the transformation work has been completed, so he will take over as CBO.


DWF Partner: We are in contact with some MEME coin projects and are willing to deploy funds to promote their growth

DWF Labs partner Andrei Grachev revealed on the X platform that he is in contact with some MEME coin projects and is willing to deploy a large amount of funds to promote faster and more efficient growth of related projects. More new news will be released later.

Trump: If elected president, I will seriously consider pardoning Julian Assange

Donald Trump says he would “very seriously consider” pardoning Julian Assange if elected president. (Bitcoin Magazine)
Earlier news, the British High Court ruled on the extradition appeal of Assange, the founder of WikiLeaks, allowing Assange to appeal his extradition case.

Bernstein: ETH is the first equity proof token approved for spot ETF, and similar tokens such as SOL may benefit

Well-known brokerage firm Bernstein said in a research report on Tuesday that ETH is the first proof-of-stake token approved as a spot ETF. This approval paves the way for blockchain assets to develop from token sales. This has a positive impact on other similar proof-of-stake blockchain tokens, as they may follow the same precedent, and Solana (SOL) may benefit. (Coindesk)

Matrixport: Based on the Seasonality indicator forecast, Bitcoin may hit a record high this summer

Matrixport posted on the X platform that seasonality has been a good predictor of Bitcoin prices. While January 2024 is hardly bullish, February is a strong month for Bitcoin – just as seasonality predicts. Bitcoin should still be bullish in early summer June and July, and overall, we should see new all-time highs this summer. Bitcoin tends to rise 4% in June, and Bitcoin has risen 6 times in the same month in the past 10 years.

LayerZero co-founder responds to a hunter reported 480,000 addresses: Not every witch report is valid

In response to the hotly debated issue in the community that a hunter submitted a witch report containing 480,000 addresses, LayerZero co-founder Bryan Pellegrino responded on the X platform that anyone can write anything they want into the report, but not every report is valid.

Investment and Financing

Parasail Completes $4 Million Seed Round at $50 Million Valuation, Led by Protocol Labs

According to official news, Parasail Protocol, which focuses on improving the security of DePIN hardware services, recently announced the completion of a $4 million seed round of financing, with a valuation of $50 million. The seed round of financing was led by Protocol Labs, with participation from D 11 Labs, MH Ventures, BitRise Capital, E V3, Fenbushi Capital, Modular Capital, Faculty Group, DWF Ventures, Foresight Ventures, AGE Crypto, Waterdrip Capital and others.
According to the Parasail team, the financing funds will be used to accelerate the realization of various product functions in the Parasail Master Plan, that is, to pool assets and hardware on DePIN, provide service level guarantees for users, and dynamically coordinate hardware resources according to demand. It is reported that Parasail TVL exceeds 50 million US dollars.
In addition to providing security for hardware services through asset delegation, Parasail is building a universal adapter for hardware service provision and verification to enable the flexible use and circulation of common hardware resources (such as graphics cards, storage, sensors, etc.) in different DePIN ecosystems. With the help of the Parasail protocol, DePIN projects can systematically and efficiently build their networks and mobilize hardware resources.

Decentralized artificial intelligence project GaiaNet completes $10 million in financing, with EVM Capital and others participating

The decentralized artificial intelligence project GaiaNet has completed a $10 million financing round, with EVM Capital, Mirana Ventures, Mantle EcoFund, Lex Sokolin of Generative Ventures and Brian Johnson of Republic Capital participating in the investment. The newly raised funds will fund GaiaNet to develop educational tools for STEM students and support its use of distributed ledger technology to decentralize AI networks. (TheBlock)

Stablecoin project completes strategic round of financing, with LayerZero Labs and others participating

Stablecoin project announced on X platform that it has completed a strategic round of financing, with participation from GBV Capital, LayerZero Labs and a group of angel investors including Curve Finance founder Michael Egorov. The specific amount has not been disclosed yet.
It is reported that is an EVM-agnostic CDP protocol that combines Curve Finances innovative liquidation mechanism LLAMMA, aiming to build a capital-efficient, scalable and truly interoperable USD stablecoin for anyone, anywhere.

Web3 instant settlement payment provider Coinflow Labs completes $2.25 million in financing, led by CMT Digital

Web3 instant settlement payment provider Coinflow Labs announced the completion of a $2.25 million seed round of financing, led by CMT Digital, with participation from Reciprocal Ventures, Jump Crypto, Draper Dragon, Digital Money Group and others.
It is reported that Coinflow is a blockchain-based payment processor that can achieve instant settlement of payment acceptance and payment, and provide additional value-added payment-related services such as refund protection, analysis and KYC/KYB. (Globenewswire)

This article is sourced from the internet: Planet Daily | Federal Reserve Kashkari: The number of interest rate cuts in 2024 is expected to be no more than two; Mt.Gox transfers Bitcoin to prepare for repayment of creditors (May 29)

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