Planet Daily | Global Bitcoin spot ETFs hold a total of 930,083 BTC; Coinbase faces new lawsuit for allegedly deceiving

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Planet Daily | Global Bitcoin spot ETFs hold a total of 930,083 BTC; Coinbase faces new lawsuit for allegedly deceiving

Headlines

Hong Kong Bitcoin Spot ETF has held 4,218 BTC since its listing three days ago

On May 3, according to HOD L1 5 Capital monitoring, the Hong Kong Bitcoin Spot ETF has held 4,218 BTC in the three days since its listing, and each ETF holds at least 1,000 BTC.

The group that stole 1,155 WBTC using the phishing address has sold all the tokens for 22,960 ETH

On May 4, according to on-chain analyst Ember’s monitoring, the group that had previously used a phishing address to steal 1,155 WBTC (worth approximately $70.8 million) has sold all 1,155 WBTC in exchange for 22,960 ETH. Currently, these 22,960 ETH are stored in 10 wallet addresses.

As of May 3, global Bitcoin spot ETFs hold a total of 930,083 BTC

On May 4, according to HODL15 Capital statistics, as of May 3, global Bitcoin spot ETFs held a total of 930,083 BTC.

Industry News

Coinbase faces new lawsuit for allegedly defrauding investors

Cryptocurrency exchange Coinbase and its CEO Brian Armstrong are facing a new class-action lawsuit from customers who claim the company’s business model is illegal.
The lawsuit was filed by law firm Scott+Scott in the Northern District of California on behalf of plaintiffs Gerardo Aceves, Thomas Fan, Edwin Martinez, Tiffany Smoot, Edouard Cordi, and Brett Maggard (one each in California and Florida), who allege that Coinbase’s digital asset sales knowingly violated state securities laws since its inception.
In the lawsuit, the plaintiffs claim that Solana (SOL), Polygon (MATIC), Near Protocol (NEAR), Decentraland (MANA), Algorand (ALGO), Uniswap (UNI), Tezos (XTZ), and Stellar Lumens (XLM) are securities. (Cointelegraph)

Scam Sniffer: Attackers are using legitimate contracts like Uniswap V3 Multicall to bypass alerts and conduct phishing attacks

On May 5, according to Scam Sniffer, attackers are using legitimate contracts such as Uniswap V3s Multicall to bypass wallet security alerts and carry out phishing attacks. Five days ago, a victim lost 85 Lido ETH due to this strategy.

Marathon Digital produced 850 BTC in April and sold 600 BTC

On May 4, Bitcoin mining company Marathon Digital released its April operations report, producing 850 BTC this month, a year-on-year increase of 21%. This growth is mainly due to a 15% increase in its operating computing power, which currently reaches 21.1 EH/s. It is worth mentioning that due to the launch of runes, transaction fees accounted for about 16% of Marathons Bitcoin revenue in April.
In addition, Marathon said it sold 600 BTC in April to support monthly operations, manage finances, and general corporate purposes. As of April 30, the mining company held 17,631 BTC.
Meanwhile, Kenyan President Williams Ruto spoke at the AMCHAM summit, saying: “Marathon Digital has been invited to consult with the Kenyan Ministry of Finance on our cryptocurrency regime and to discuss with the Ministry of Energy its energy needs related to cryptocurrency mining in Kenya.”
The company also confirmed the development, adding that its team is discussing how its digital asset data center can stimulate energy development in the region and promote trade relations between the United States and East Africa. (CryptoSlate)

US SEC postpones approval of 7 RCC spot Bitcoin and carbon credit futures ETFs

On May 4, the U.S. Securities and Exchange Commission said it would take more time to decide on the next steps for the proposed 7 RCC spot Bitcoin and carbon credit futures ETF, and therefore postponed the approval decision for the 7 RCC spot Bitcoin and carbon credit futures ETF. In a document filed on Thursday local time, the agency said it would decide whether to approve the 7 RCC spot Bitcoin and carbon credit futures ETF by June 24, 2024. (TheBlock)

USDC circulation decreased by $200 million in the past week, with a total circulation of $33.1 billion

On May 4, according to official data, as of May 2, Circle had issued a total of $2.8 billion USDC in the past 7 days, redeemed approximately $3 billion USDC, and the circulation volume decreased by approximately $200 million.
The total circulation of USDC is 33.1 billion US dollars, and the reserve is 33.2 billion US dollars, of which about 3.4 billion US dollars are in cash and the Circle Reserve Fund holds about 29.8 billion US dollars.

Grayscale GBTC holds approximately 291,000 BTC as of May 3, with assets under management exceeding $18 billion

On May 4, official data from Grayscale showed that as of May 3 local time, GBTC held 291,238.7864 BTC.
In addition, GBTCs assets under management (non-GAAP) are $18,084,763,677.23 and the outstanding shares are 327,190,100 shares.

Project News

The Uniswap Foundation holds $45.26 million in stablecoins and 780,000 UNI as of the end of 2023

On May 4, according to official news, the Uniswap Foundation released its annual operating status as of December 31, 2023: holding $45.26 million and stablecoins, as well as 780,000 UNI. US dollar cash and stablecoins will be used for grants and operational activities, and UNI will be used for employee token rewards, which is expected to last until the end of 2025. The specific uses are as follows:
Grant commitments and liquidity mining: $30 million will be allocated in 2024 and 2025. Of this, $1.5 million is reserved for grants committed in previous years, pending payment; and $13.75 million will be used to provide operating expenses until the end of 2025.
The Foundation committed $2.93 million in new grants and disbursed $3.16 million in committed grants in 2023. In addition, $360,000 was disbursed for past UGP grants and confirmed as committed in 2023. UGP grants were committed prior to the Foundation’s formation and were assumed by the Foundation upon its formation.
Overall, the Foundation received $43.41 million in funding from the DAO in 2023 and spent $3.56 million in operating expenses.

Data: 4 projects will unlock tokens next week, MAVIA unlocks more than $30 million

On May 5, Token Unlocks data showed that MAVIA, HFT, GLMR and other tokens will be unlocked next week. Among them:
-Heroes of Mavia (MAVIA) will unlock approximately 7.66 million tokens at 8:00 am Beijing time on May 6, accounting for 24.29% of the circulation, with a value of approximately US$30.25 million;
– Hashflow (HFT) will unlock approximately 13.62 million tokens at 8:00 am Beijing time on May 7, accounting for 3.46% of the circulation, with a value of approximately US$4.22 million;
– Moonbeam (GLMR) will unlock approximately 3.04 million tokens at 8:00 am Beijing time on May 11, accounting for 0.35% of the circulation, with a value of approximately US$930,000;
-Euler (EUL) will unlock approximately 67,900 tokens at 11:20 pm Beijing time on May 9, accounting for 0.36% of the circulation, with a value of approximately US$390,000.

friend.tech announces v2 is now available

On May 4, friend.tech announced on the X platform that version v2 is now available.
Yesterday, it was reported that friend.tech has opened applications for FRIEND airdrops.

Friend.tech: Nearly 60,000 unique addresses joined nearly 90,000 Clubs in the past 48 hours

On May 5, Friend.tech officially announced on the X platform that in the past 48 hours, 59,348 independent addresses have joined 88,987 Clubs.

Data: Only 4 of the top 13 friend.tech token FRIEND holders sold some of their tokens

On May 5, according to Dune data, among the top 13 holders of Friend.tech token FRIEND, only 4 sold some of their tokens, and currently 5 people’s holdings remain stable, including Maji, bitgoten, 8888 bitcoin, and 0x5f_eth, who chose to purchase tokens.

Avail: The first phase of airdrop claims has ended, and more relevant information will be announced next week

On May 5, Avail officially announced on the X platform that the first phase of airdrop claims have ended and the official claim window is now closed. More information about the second phase of airdrop claims will be released next week, including more rewards for more Clash of Nodes participants, rewards for Polygon PoS validators and LST holders, and other information.

BounceBit: Mainnet and token airdrop will be launched on May 13

On May 5, BounceBit officially announced on the X platform that the mainnet will be launched on May 13, and announced the recent plans:
On May 6, newly added Premium Yield will be suspended until the mainnet is launched, and those who have already joined will continue to receive rewards.
From May 6th to 12th, BounceBit introduced the first batch of professional node operators.
On May 12-13, LCTs (BBTC/BBUSD) were distributed to relevant chains.
On May 13, BounceBit mainnet was launched. BB airdrops will be automatically distributed to each eligible wallet, without the need to claim or interact with any web page; Binance Megadrop announced the results and distributed rewards; Premium Yield resumed; asset withdrawals opened.

Sui official: Mysten Labs founders do not control any tokens

On May 5, in response to recent questions about the supply of tokens, Suis official account posted on the X platform that the locked tokens are locked by a third-party custodian, cannot be moved, and are kept safe until unlocked according to Suis token issuance schedule. @Mysten_Labs founders do not control @SuiFoundation treasury, community reserves, equity subsidies, or any tokens allocated to investors. In addition, token ownership is not mysterious, and each token to be released has been allocated. Sui Foundation is the largest holder of locked tokens, and locked tokens will be unlocked according to a public release schedule. These tokens are used to support builders, advance the development of the Move programming language, improve network security, and develop the ecosystem through initiatives such as developer funding, hackathons, bug bounties, and academic research. Staking rewards are already in circulation because they are composed of staking subsidies and network fees. In addition, 100% of the staking rewards earned by Sui Foundation will be returned to the community and included in the public release plan.

ether.fi large staker initiates withdrawal application for 37,140 ETH staked, worth $115 million

On May 5, according to the monitoring of on-chain analyst @ai_9684 xtpa, in the past five hours, ether.fi staker 0x5e9 initiated a pledge withdrawal application for 37,140 ETH, worth 115 million US dollars – it is not certain whether this ETH will be deposited into other re-staking agreements or sold. The whale received 25,000 ETHFI airdrops worth 83,000 US dollars two months ago, which have not been transferred or sold yet.

Jack Dorsey donates $21 million to OpenSats nonprofit

On May 4, Bitcoin Magazine disclosed that Jack Dorsey donated $21 million to OpenSats, a non-profit organization focusing on projects such as Bitcoin, to support open source and Bitcoin development. According to previous news, Jack Dorsey donated $10 million to OpenSats in May 2023.

LayerZero: Using Merkly does not mean the airdrop amount will be zero

On May 4, LayerZero officials said in Discord: Using Merkly does not mean that the number of airdrops will be zero. If you have only used Merkly, then you are likely a witch. If you are a real user performing normal operations, then there is no problem (you should be fine).

LayerZero Co-founder: The list of self-reported Sybil addresses will not be published

On May 4, 3a mClub co-founder sanyi.eth sent a message to LayerZero co-founder and CEO Bryan Pellegrino on the X platform, saying: “If you can ensure that the Sybil address is not shared with other projects, I believe that many people will voluntarily prove that they are Sybils.”
Pellegrino responded: The list of self-reported Sybil addresses will not be published. All addresses will be included in the official filtered Sybil list (i.e. ineligible for bounties), but will not be listed as self-reported.
Earlier, LayerZero published a post on the X platform stating that distributing tokens to persistent users (rather than Sybil users) is in the best interest of the protocol. For Sybil users, there are now two options:
1. Self-report the witchs address before May 17;
2. Once an address is marked by LayerZeros internal witch report or bounty hunter, further reporting will no longer be valid and no tokens will be received.

Over $13 billion in ETH has been destroyed since EIP-1559 was deployed

On May 4, Ultra Sound Money data showed that more than 4.28 million ETH have been destroyed since the deployment of EIP-1559 in early August 2021, worth more than US$13 billion at current prices.

io.net: Worker credits for the April 25 snapshot are now available

On May 4, io.net posted on the X platform that the Worker Points for the April 25 snapshot have taken effect. Worker Points that are not in the April 25 snapshot are currently subject to Sybil review and are expected to be provided within the next 72 hours.

Kamino clarifies: The second account on Bybit’s weekly profit ranking, “Kamino Team Sold”, is not officially owned

On May 4, @DefiSquared posted on the X platform that the account Kaminoteamsales ranked second on the Bybit weekly spot income ranking. Bybit data showed that the account was created four days ago and has been profitable for three consecutive days, with a profit of $3.23 million, a weekly yield of 113.95%, and the highest yield trading pair is KMNO/USDT.
SolanaFloor commented that it had confirmed with the Kamino team, who confirmed that there was no Bybit exchange account and that it had nothing to do with the Kaminoteamsales account. It seemed that someone had done this deliberately as a malicious provocation.

MakerDAO will launch new tokens NewStable and NewGovToken, NewGovToken will become the new governance token

On May 4, according to official x, MakerDAO will launch two new tokens: NewStable and NewGovToken.
MKR holders will be able to upgrade their tokens to NewGovToken, the new governance token within the ecosystem. The total supply of NewGovToken has been strategically rebalanced compared to MKR. During the upgrade, each MKR will be converted into 24,000 NewGovTokens, designed to promote broader governance participation.
It is reported that by transitioning to the newer token, users will gain access to the latest features in the upcoming phase of the Maker ecosystem.
In addition, MakerDAO provides flexible options to continue using Dai and MKR, or switch to new tokens when appropriate. In the future, the new ecosystem will launch new yield products and Lockstake engines.

Character*Voice

Vitalik: Re-sharing his 2020 article on fully homomorphic encryption

On May 5, Ethereum co-founder Vitalik Buterin said on the social platform: “Since many people have been interested in fully homomorphic encryption (FHE) recently, I am republishing my article published in 2020, which provides an in-depth introduction to the relevant mathematical working principles.”

Coinbase CEO: Focus on using encryption to promote the renewal of the global financial system

On May 5, Coinbase CEO Brian Armstrong said in a Q1 2024 earnings call, “We just want to focus on how the crypto industry can be applied to the update of the global financial system and make it faster, cheaper, and more global. We also try not to pre-announce anything in these calls. Let’s not announce the steam engine, let’s really build it.”

Opinion: Stablecoins will surpass Visa in total payment volume in the second quarter

On May 5, Banana Capital investor Turner Novak wrote on the X platform that there is a view that the total payment volume of stablecoins will exceed Visa in the second quarter.

zkSync Content Director: Personally, I have not yet decided whether to self-report

On May 4, zkSync content director @frogmonkee posted on the X platform that, personally:
1. Don’t like reporting others, it’s a lot like PvP and will lead to a lot of false positives;
2. Farmers and witches are different groups;
3. No decision has been made on self-reporting, but it seems like a nightmare to implement and enforce at the expense of community fear.
LinkedIn shows that @frogmonkee has served as zkSyncs content director since January 2024.

Tether CEO: Bitfinex data leak may be a fake event

On May 4, Tether CEO Paolo Ardoino posted on the X platform that the Bitfinex data leak may be a false event, based on the following:
The sample data included 22,500 email and password records;
Bitfinex does not store plain text passwords, nor does it store 2FA passwords in plain text;
Only 5,000 of the 22,500 emails matched Bitfinex users;
The hackers did not contact Bitfinex. If they had any real information, they would have contacted Bitfinex through their bug bounty, customer support ticket, etc.
The passwords disclosed by the hacker also did not meet Bitfinex’s minimum password strength requirements.

This article is sourced from the internet: Planet Daily | Global Bitcoin spot ETFs hold a total of 930,083 BTC; Coinbase faces new lawsuit for allegedly deceiving investors (May 5)

Related: Bitcoin will add five new BIP editors. What impact will this have on the development of the ecosystem?

Original author | CoinDesk Compiled by Nan Zhi from Odaily Planet Daily Bitcoin’s open-source development is often touted as one of its strengths, demonstrating the network’s resilience and elusive nature. But a closer look reveals that something as complex as developing, updating, and patching the blockchain in real time often presents challenges. One of the main problems over the past few years has been a bottleneck in editing BIPs (Bitcoin Improvement Proposals), which is a standard for proposing non-binding software updates that would change the Bitcoin protocol in some way. That’s about to change as the globally distributed Bitcoin development community has decided to nominate five new BIP editors. This is the first time in Bitcoin’s history that more than one person has held the position, a role that for…

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