Planet Daily | The probability of the Federal Reserve keeping interest rates unchanged in June is 99.8%; ERC-6900 offici

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Planet Daily | The probability of the Federal Reserve keeping interest rates unchanged in June is 99.8%; ERC-6900 offici

Headlines

The probability of the Fed keeping interest rates unchanged in June is 99.8%

According to CMEs Fed Watch: The probability of the Fed keeping interest rates unchanged in June is 99.8%, and the probability of raising interest rates by 25 basis points is 0.2%. The probability of the Fed keeping interest rates unchanged by August is 82.3%, the probability of a cumulative interest rate cut of 25 basis points is 17.5%, and the probability of raising interest rates by 25 basis points is 0.1%.

ERC-6900 official website resources released, co-authored by Ethereum Foundation, Alchemy, Circle and Quantstamp

The official website resources for ERC-6900 have been released, co-authored by the Ethereum Foundation, Alchemy, Circle and Quantstamp, providing a comprehensive guide to ERC-6900.
It is reported that ERC-6900 is a pioneering proposal to standardize the interface of composable smart accounts. The core idea behind ERC-6900 is to promote permissionless innovation by making it easier for developers to build secure, interoperable and composable modular smart accounts and plug-ins.
The website provides resources on the motivation and design of ERC-6900, community participation, compatible smart account implementations, and plugin development. It also provides benefits for ERC-6900 ecosystem developers and provides a roadmap for future focus. (Bitcoin.com)
Earlier in February, Alchemy announced the launch of Modular Account for Ethereum L2 developers, allowing non-technical users to access the Web3 ecosystem more widely. It is reported that Modular Account is a new contract account implementation designed for ERC-4337 and ERC-6900 compatibility. Modular Account can provide enterprise-level security, low cost and strong account scalability for developers based on Ethereum L2.

Sotheby’s to auction BAYC series of “Golden Orangutan” NFTs

Sotheby’s is about to auction a golden hairy gorilla NFT created by Yuga Labs, along with other rare digital artworks. The auction will test the staying power of gorilla-themed assets in the art world. The auction items include an NFT from the Bored Ape Yacht Club (BAYC), as well as other rare digital artworks.

Industry News

Global X cuts fees on Bitcoin and Ethereum ETPs to zero for launch in Europe

U.S. ETF provider Global X ETFs said its Global X Bitcoin and Ethereum ETPs will not charge fees until January 3, 2025, after which the fee will become 0.29%.
The two products were initially listed on the Xetra exchange in Frankfurt and the Swiss Stock Exchange in Zurich in March 2022, with a total fee rate of 0.65%.
Global Xs website shows that as of May 24, its Bitcoin investment products had approximately $4.3 million in assets under management, while its Ethereum products had approximately $5.7 million in assets under management. (Financial Times)

Australian Court Exempts Block Earner from Penalty in Lawsuit for Unlicensed Crypto Yield Offering

The Federal Court of Australia has waived a fine against fintech company Block Earner after ruling that it offered a cryptocurrency yield product without a financial services license.
On June 4, Judge Ian Jackman ruled that Block Earner “acted in good faith” and that it did consider obtaining a license when its income product “Earner” was launched, but its research and legal advice showed that a license was not required.
Block Earner founder and CEO Charlie Karaboga said getting a legal opinion before launching the product “showed that we acted honestly and did everything we could as a startup.”
The judge rejected a $234,000 (AUD350,000) fine requested by the Australian Securities and Investments Commission (ASIC). ASIC said in a press release on June 4 that it is reviewing the decision. (Cointelegraph)
Earlier in February, an Australian court ruled that the crypto company Block Earner provided Earner products without permission.

Thailand SEC approves first local Bitcoin spot ETF application

The Thai SEC has approved local asset management company One Asset Management (ONEAM) to launch the country’s first Bitcoin spot ETF “ONE-BTCETFOF-UI”.
The ETF is scheduled to be issued between May 31 and June 6, with an investment risk level of eight, and its target customers are high-net-worth individuals and institutional investors.
Meanwhile, MFC Asset Management will continue to wait for the SEC to approve its Bitcoin ETF application, which will also be limited to high-net-worth individuals and institutional investors. (Bangkok Post)

Volatility Shares leveraged Ethereum ETF has started trading, and Ethereum spot ETF may be launched in the future

Fox Business reporter Eleanor Terrett posted on the X platform that the Volatility Shares Leveraged Ethereum ETF (ETHU) has started trading today.
Stuart Barton, co-founder of Volatility Shares, said: “We are pleased that the U.S. SEC has begun to accept cryptocurrencies. Volatility Shares continues to work with the SEC to ensure that this innovative new investment exposure enters the market. Just like our 2x Bitcoin ETF (BITX), ETHU may pave the way for a 1x (Ethereum) spot ETF in the near future.”
It is reported that Volatility Shares launched the Volatility Shares 2 x Bitcoin ETF in June 2023.

New South Korean Law Requires Crypto Deposits to Pay Interest

A new South Korean law will require banks to pay interest on deposits from cryptocurrency exchanges, which could severely impact KBank’s profits. KBank currently has $3.6 billion in deposits from major cryptocurrency exchange Upbit, accounting for more than 20% of its customer balances. Under the new law, if the interest rate is set at 1%, KBank will need to pay about 50 billion won ($36 million) in interest, which is equivalent to its current profits. The law will take effect in July 2024, and the timing is particularly unfavorable for KBank as it prepares to go public. Upbit is the largest cryptocurrency exchange in South Korea, and other South Korean banks do not have significant exposure to cryptocurrency deposits.

Project News

DAR Open Network is about to launch DAR ID and task system, and 2% of the total token supply will be distributed to active users each year

Web3 gaming open infrastructure DAR Open Network announced the upcoming launch of the DAR ID and task system, supporting one account to log in and manage all games, and announced an update to the token economic design. 2% of the total supply (16,000,000 DAR) will be distributed to active users each year, with the distribution ratio being:
1. DAR ID Mission (45%): A thrilling mission suitable for all levels of participation, with zero cost to participate;
2. DAR staking (40%): Staking tokens will generate additional DAR rewards over time, with the reward amount determined by the staked amount and lock-up period;
3. LAND staking (5%): The higher the LAND level, the longer the lock-up period, and the richer the rewards;
4. Ape Mission (10%): The duration of Ape Mission has been extended.

Mina announces completion of Berkeley upgrade

Mina Protocol posted on X Platform that the Berkeley upgrade has been completed. Mina will become a ZK chain with universal ZK programmability on the mainnet.
Yesterday, the lightweight blockchain network Mina Protocol posted on the X platform that the protocol will be upgraded from 17:00 on June 4 to 8:00 on June 5, during which the network will be shut down for 15 hours. It is reported that the Berkeley upgrade is designed to enhance the ZK programmability of the Mina network.

DTX is launched on Taiko mainnet, providing decentralized trading, perpetual contracts and liquidity services

The decentralized trading and liquidity protocol DTX.trade announced its official launch on the Taiko mainnet and added a new spot swap function to Taiko, providing Taiko network users with spot trading and decentralized perpetual contract functions with a maximum leverage of 5 0x.
At the same time, DTX announced that it will also launch Launchpad, and will strive to become Taikos trading and liquidity hub and serve as the growth engine of the Taiko ecosystem.
Users can earn DTX Fuel points by trading on DTX. In addition, DTX will also participate in the subsequent Trailblazers: Call of Taiko series of incentive activities organized by Taiko officials.
DTX is a decentralized trading and liquidity protocol built on the Taiko and Blast networks. It won the runner-up in the Blast Big Bang Competition. Within 3 months of the launch of the Blast network, it achieved a trading volume of more than US$1.7 billion and provided trading services to more than 13,000 accounts worldwide.

Binance Spot will add PEOPLE/FDUSD and other trading pairs and trading robot services

According to the official announcement, Binance will launch HIGH/TRY, PEOPLE/FDUSD, and TNSR/USDC spot trading pairs at 16:00 (Eastern Time) on June 5, 2024, providing users with more spot trading options.
In addition, Binance will open trading bot services for the following trading pairs at 16:00 (ET) on June 5, 2024:
Spot algorithmic orders: HIGH/TRY, PEOPLE/FDUSD, TNSR/USDC.

Loopring: TAIKO airdrop has been released to the community

Loopring announced on the X platform that the Loopring communitys TAIKO airdrop has been released. Users need to go to the claim page to link the Loopring L2 activation wallet to check whether they are eligible. If they are eligible, they need to bind the Taiko mainnet activation wallet to receive tokens.

Gitcoin and Sei Foundation launch Sei Creator Fund, with first round of matching funding pool of $250,000

According to official news, Gitcoin and Sei Foundation announced today the launch of Sei Creator Fund (total size of US$10 million), with the first round of supporting funding pool of US$250,000. The fund is open to experienced and new contributors to provide support for projects in the Sei ecosystem. Applications are now open.

Worldcoin: World APP still available in Spain, Tools for Humanity has filed a lawsuit

In response to the Spanish Data Protection Agency (AEPD)’s announcement that Worldcoin has legally agreed not to resume its operations in Spain before the end of this year, Worldcoin posted on its blog that Tools for Humanity announced that it has filed a lawsuit against the AEPD’s order. Currently, all World ID verification services in Spain have been suspended, but the Worldcoin project’s first wallet, World App, is still available.

Uniswap Labs says it is ready to release important information and is suspected of reaching a settlement with the US SEC

Uniswap Labs posted on the X platform that it was preparing to release important information. The community speculated that it might reach a settlement with the U.S. Securities and Exchange Commission, or that UNI might enable the landing or launch new features.

UniSat: Pizza engraving progress has reached 93.2%, will be distributed within 48 hours after engraving is completed

UniSat posted on the X platform that the pizza engraving progress has reached 93.2% and is expected to be completed in the next 2-3 days. After that, the pizza engraving will be distributed within the next 48 hours.
According to previous news, UniSat posted on the X platform that the pizza redemption activity has ended, all 21 million pieces have been claimed, and a total of 200,738 addresses have claimed pizza in this activity.

BNBs market value surpasses Starbucks and ranks 170th in global asset market value

8 Marketcap data shows that BNBs market value has reached 101.75 billion US dollars, with a 24-hour increase of 10.04%, ranking 170th in the global asset market value, surpassing Starbucks (market value of approximately 93.77 billion US dollars, ranked 188th).

FTX: Plans to pay more than $200 million in taxes to the IRS, not $24 billion

FTX plans to pay the IRS $200 million in priority tax debts and $685 million in subordinate tax claims, according to a June 3 legal filing. Priority tax claims, such as taxes, are payments that must be paid before other debts, while subordinate claims are paid only after priority obligations are satisfied.
FTX argued in bankruptcy court that the amount it owed was far less than the $24 billion the IRS claimed. Previously, the IRS claimed FTX owed $44 billion in taxes, but later lowered the amount to $24 billion.
The FTX debtors, who managed the company during its bankruptcy, believe that the IRS incorrectly included funds misappropriated by Sam Bankman-Fried and other tax liabilities in its calculations. The IRS disagrees with the debtors’ arguments and plans to seek a large tax liability if a settlement cannot be reached. The objection deadline in the case is June 17, with a hearing date of June 25, 2024.

Character*Voice

Uniswap founder: I agree with Solana co-founder that the uncertainty of DA’s long-term value is one of the biggest problems facing Ethereum

Bankless hosted a debate yesterday between renowned Ethereum developer Justin Ðrake and Solana co-founder Anatoly Yakovenko.
In response to the views of both parties, Hayden Adams, founder of Uniswap, said that he agreed with Justins point that future transaction demand will far exceed our imagination today. The future will not be dominated by a single state machine; he agreed with Anatolys point that the biggest problem facing Ethereum is the uncertainty of the long-term value of DA and the uncertainty of ETHs vision of ultrasonic currency.
Odaily Note: Ultrasonic currency is a meme concept in the Ethereum ecosystem, which mainly emphasizes the deflationary nature of ETH.

Coinbase founder: The price of purchasing the coinbase.com domain name was $1,795

Brian Armstrong, founder of Coinbase, revealed during an interaction with the community on the X platform that Coinbase purchased the coinbase.com domain name for $1,795, and he made the purchase decision after confirming that the trademark was available.

Glassnode: Bitcoin active addresses drop to 5-year low

Glassnode data shows that Bitcoins active addresses have fluctuated significantly recently. After the halving in April 2024, the number of active addresses has dropped significantly due to soaring transaction fees and network congestion. This increase in fees, partly due to the emergence of new protocols such as Runes, has affected Bitcoins utility in daily transactions, resulting in a significant drop in network activity.
Historically, active addresses have been a reliable indicator of market phases. For example, data from 2022 shows that active addresses have stagnated, consistent with the typical bear market pattern observed in past cycles. Bitcoins market forces are cyclical, often with periods of reduced activity followed by renewed activity as market conditions improve.
However, it is worth mentioning that although the current number of active addresses has dropped to the lowest point since 2019, Bitcoin has returned to near its historical high. (CryptoSlate)

STEPN GO Joint Creation: The total number of Genesis shoes in the STEPN GO app is about 8,000 pairs

STEPN GO released the results of the second round of Co-founder QA. When answering the question about how many Genesis Sneakers will be in the STEPN GO app, STEPN GO co-founder Yawn Rong replied: The total number of Genesis Sneakers in STEPN and STEPN GO is 20,000 pairs. The maximum number of Genesis Sneakers in STEPN GO will be 20,000 minus the number of Genesis Sneakers already in STEPN, which means that STEPN GO will probably have about 8,000 pairs of Genesis Sneakers available.

DWF Labs co-founder: Will invest more funds in Meme coin, the third project after LADYS and FLOKI is underway

DWF Labs co-founder Andrei Grachev posted on the X platform: “According to our plan, we will invest more funds in the Meme Coin project:
#1 LADYS: Investment completed;
#2 FLOKI: Investment completed;
#3: Work in progress;
#4, 5: During the negotiation process.

Galaxy Digital CEO: Bitcoin could reach $100,000 or higher by the end of the year

Galaxy Digital CEO Michael Novogratz said Bitcoin could reach $100,000 or higher by the end of the year. (Jinshi)

Tether CEO: EU MiCA regulations contain some problematic requirements

Tether CEO Paolo Ardoino said the EUs regulated Market in Crypto-Assets (MiCA) regulations contain several problematic requirements. He said: These requirements may not only make the work of stablecoin issuers extremely complicated, but also make EU-licensed stablecoins extremely vulnerable and with higher operational risks. As with any regulatory framework of this scale, further discussion of technical implementation standards is essential to give the market clarity on certain regulations. Under MiCA, to become a regulated stablecoin provider in the EU, issuers must have an Electronic Money Institution (EMI) license. Ardoino said Tether has had extensive engagement with its European exchange counterparties on the relevant requirements, including those related to the continued listing of USDt and other Tether tokens, as well as interpretation of key regulatory terms.

Investment and Financing

DWF Labs to purchase $12 million of FLOKI to support its ecosystem development

FLOKI announced on the X platform that DWF Labs will purchase $12 million worth of FLOKI tokens to support its ecological development, part of which will be obtained from the market and the rest will come from the FLOKI treasury.

Polygon Labs acquires ZK engineering startup Toposware

According to official news, Polygon Labs announced the acquisition of ZK engineering startup Toposware. The specific acquisition amount has not been disclosed. It is reported that the Toposware team is integrating with the existing Polygon ZK development team to further promote Hong Kong technology, including AggLayer, Polygon CDK, Polygon zkEVM, and eventually upgrading Polygon PoS (pending community approval) to ZK validium.

Blockchain expansion service provider Avail completes $43 million Series A financing, led by Founders Fund and others

Avail, a blockchain expansion service provider, announced the completion of a $43 million Series A financing round, led by Founders Fund, Dragonfly and Cyber Fund, with participation from SevenX, Figment, Spark Digital Capital, etc. The companys total financing has reached $75 million so far. Avails service targets are mainly Layer-2, that is, blockchains such as Base, Polygon, Arbritrum or Opitmism, helping L2 to batch assemble transactions and write them to the main chain or Layer-1 chain. (Fortune)

Ethereum L2 Fhenix Completes $15 Million Series A Funding, Led by Hack VC

Ethereum L2 Fhenix announced the completion of a $15 million Series A financing, led by Hack VC, with participation from Dao 5, Amber Group, Primitive Ventures, GSR, Collider Ventures and Stake Capital. As of now, the companys total financing has reached $22 million. It is reported that Fhenix announced the launch of its open test network, named Helium (originally planned to be named Renaissance), which allows developers to deploy confidential smart contracts on the Fhenix Layer 2 network. (theblock)

Security incidents

Renzo official X platform suspected of being stolen, now restored

Renzo official X platform was suspected of being stolen, and released token news and closed comments in the comment area. At present, the relevant tweets have been deleted.

Binance releases latest response to browser plugin-related asset hacking incident

Binance released an update on the browser plug-in that caused the asset hack, saying that the user had issued the latest clarification, and there were two misunderstandings: Binance was indeed unaware of the plug-in in advance, and the KOL was not Binances undercover. The user said that some of the previous information was based on subjective speculation, and there were some information gaps.
The Binance team said, Binances risk control and security teams will continue to investigate such incidents. At present, they have added big data alarms and manual double confirmations for sudden price fluctuations, and will also provide additional reminders to users. In terms of plug-in operation and Cookies authorization, they will consider whether to increase the verification frequency. Binance will increase security verification links based on specific circumstances and user differences. We also take this opportunity to remind all users to always be vigilant, use a clean web browser, do not install any third-party plug-ins, and log out after use.

This article is sourced from the internet: Planet Daily | The probability of the Federal Reserve keeping interest rates unchanged in June is 99.8%; ERC-6900 official website resources are released, providing a comprehensive guide to ERC-6900 (June 5)

Related: Will BNB Coin Establish a New All-Time High This Weekend?

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