Headlines
Biden to Attend Bitcoin Roundtable Meeting
According to Odaily Planet Daily, Biden will participate in a Bitcoin roundtable meeting with key congressional officials from Washington, D.C. Led by U.S. Congressman Ro Khanna, the proposed meeting will discuss how to keep Bitcoin and blockchain innovation within the U.S. borders. U.S. Congressman Ro Khanna is set to host a Bitcoin and blockchain roundtable meeting in early July in Washington, D.C., describing it as “the most important meeting to date between blockchain policymakers and innovation leaders.” The roundtable meeting is expected to be attended by officials from the Biden administration, the House, the Senate, and American businessman Mark Cuban. The main goal of this meeting is to strategize on how to maintain “Bitcoin and blockchain innovation in the U.S.” This move is seen as a response to former President Donald Trump’s recent acceptance of the Bitcoin industry. Over the past four years, the Biden administration has taken a hostile stance towards Bitcoin and the crypto industry. The upcoming roundtable meeting signifies a shift in Washington’s attitude towards the crypto industry, and given Khanna’s party affiliations, this may represent a warming sentiment among Democrats. Earlier this week, it was reported that the Biden administration is negotiating to accept cryptocurrency donations through Coinbase Commerce, following Trump’s lead in accepting donations through Coinbase. (Bitcoin magazine)
ZK Nation: ZK Airdrop Distribution Opens Today
Odaily Planet Daily reports that ZK Nation has updated its FAQ document and clarified issues related to the airdrop. Finally, ZK Nation announced that the ZK Airdrop distribution will open at 3:00 PM on June 17th Beijing time.
LayerZero CEO: 594,641 Participants to Receive Airdrop, Early Traders to Receive Triple Rewards
According to Odaily Planet Daily, LayerZero Labs CEO Bryan Pellegrino announced the final rules for the airdrop, with early trades calculated at triple rewards. Additionally, if three trades are made later, an extra 50 tokens will be rewarded (84,000 eligible people, totaling approximately 4.2 million tokens). He mentioned that a total of 594,641 participants will receive the airdrop, with varying amounts of tokens awarded based on their participation levels.
Industry News
Fidelity Digital Assets Releases Video Introduction to Runes, Continues to Monitor Its Development
Max Wadington, an analyst at Fidelity Digital Assets, a subsidiary of Fidelity Investments, released a video on YouTube introducing Bitcoin Runes. The video provides a brief history of Runes, its protocol mechanisms, and its impact on the Bitcoin network, emphasizing ongoing monitoring of its development.
Deutsche Telekom Announces Launch of Bitcoin Mining Business
Deutsche Telekom announced its entry into the Bitcoin mining business to expand its ongoing crypto activities. Dirk Röder, head of Web3 infrastructure and solutions at Deutsche Telekom, revealed during a speech at BTC Prague that they have been running Bitcoin nodes since 2023 and are soon to engage in digital currency mining activities.
Three Independent Organizations Compete for Claims on Seized Assets of SBF
After FTX’s former CEO Sam Bankman-Fried was criminally convicted, assets worth $11 billion related to his criminal activities (including crypto tokens, private jets, funds in bank accounts, etc.) were seized in March. Now, three independent organizations – FTX debtor’s property, a class of creditors, and an offshore entity founded by Sam – are competing for claims on these seized assets, asserting that the assets rightfully belong to them.
Project News
Vitalik Introduces New Image Compression Mode “TiTok,” Suggests Use for On-Chain Storage
Ethereum founder Vitalik Buterin posted on Farcaster introducing a new image compression mode called “Token for Image Tokenizer” (TiTok), stating that “320 bits is basically a hash value. Small enough for every user to upload to the chain.”
Solana Sandwich Bot Earns Over $30 Million Through MEV Arbitrage in Two Months
According to chain analysis by Ben on X platform, the Solana Sandwich Bot has earned over $30 million through MEV arbitrage in the past two months. The Bot has transferred 114,000 SOL (approximately $16.5 million) to a custody address and actively engages in Solana DeFi activities.
Polygon Labs Launches Derivative Product “Privado ID” Based on Its ID Solution
Polygon Labs, the primary development team behind Polygon, has launched a derivative product called “Privado ID” based on its ID solution. The team is actively partnering with on-chain and institutional organizations to extend Privado ID beyond the Polygon network, including concept validations with multinational banks and financial services companies.
Cardano Community to Gain Control of $681 Million Treasury Funds
The Cardano community will gain control of over $681 million worth of treasury funds, making it the eighth largest treasury in the crypto space. These funds, supported by transaction fees and block rewards, will aid in ecosystem development and sustainability. The project follows a three-tier governance structure involving the Cardano Foundation, Input Output Global (IOG), and EMURGO. This fund transfer coincides with the upcoming Chang fork, a major upgrade transitioning Cardano to a fully decentralized blockchain ecosystem, with the Chang fork upgrade expected to be completed in June.
Uniswap Labs Initiates New Feature Community Survey, High Support for Gas Payment with Any Token
Uniswap Labs has initiated a new feature community survey, with high support for gas payment using any token.Initiate a survey on X platform regarding the addition of new features in the Uniswap mobile application, including in-app bridging support, using any token to pay for gas fees, viewing LP positions, and price alerts. As of now, the highest support rate is for using any token to pay for gas fees.
LayerZero CEO: Community can review the temporary witch list within 24 hours, any inaccuracies will be removed
In a post on X platform, LayerZero Labs CEO Bryan Pellegrino announced the temporary witch list and stated, “We are releasing this information for community review. If there are inaccuracies in a cluster or in the reports, we will delete them. This information does not apply to individual appeals and is not based on each address. Please list clusters with obvious errors and explain ‘why’ the method is clearly wrong or how to prove it contains errors. If possible, please provide feedback within the next 24 hours.” He also added that a few bounty hunter reports have been approved but not yet listed, the list may be slightly updated tomorrow, but 99% of it is already listed.
EIGEN token airdrop claims exceed 80 million
The Eigen Foundation announced that after the opening of the EIGEN token staking airdrop claims in Season 1 Phase 1, the latest data from Dune Analytics shows that the number of EIGEN token claims has exceeded 80 million, currently at 80,750,184 tokens. The largest claim so far is 2,426,394 tokens, the smallest claim is 2 tokens, and the number of participating addresses is 189,469.
Notcoin announces the end of airdrop claims, unclaimed tokens to be used for future development or destroyed
The Telegram gaming project Notcoin announced on X platform that the airdrop claims have ended. Most of the airdropped tokens have been distributed, and any unclaimed tokens will be used for future development, with some being destroyed. So far, Notcoin has 11.5 million holders. Additionally, players who achieve Gold and Platinum levels of staking will receive additional rewards.
Farcaster co-founder: Warpcast caters to English users, no plans for international expansion
Farcaster co-founder Dan Romero responded on social media to users who expressed a desire for Warpcast to cater not only to English users. He stated that Warpcast is a US-based team with no plans for international expansion, believing they can create an excellent client for English users but lack the bandwidth to serve international users. Phaver, Firefly App, and SuperCast are examples of clients that have performed well internationally.
Scroll ecosystem DEX NURI Exchange to launch NURI token on June 19
Scroll announced on X platform that its ecosystem DEX NURI Exchange will launch its native token NURI on June 19. NURI combines the security of Uniswap v3 with innovative governance and incentive measures.
ZKX: Decides to cancel public rounds and all launchpads
Derivatives trading protocol ZKX announced on X platform that based on feedback from the community and investors, they have decided to cancel public rounds and all launchpads. The project’s goal is to ensure the long-term health of the ZKX token, believing this decision to be the right one.
LootBot opens ZKsync airdrop distribution query
Automated interactive bot LootBot announced on X platform the opening of ZKsync airdrop distribution queries in the Intent Terminal, where users can log in and query through the Telegram bot.
Slerf: Developing community committees and DAO for SLERF and Slerf Capital, including Chinese and English KOLs
Slerf officials announced on X platform that they are working with NFT holders to develop community committees and DAOs for SLERF and Slerf Capital. This will give the community more control and decision-making power over Slerf, with the committee including Chinese and English SLERF KOLs.
Funding
Web3 game publisher Sidus Heroes completes a new round of funding, with DWF Labs participating
Web3 game publisher Sidus Heroes announced the completion of a new round of funding, with cryptocurrency liquidity provider DWF Labs participating and forming a partnership. The specific amount of funding has not been disclosed. Previously, the metaverse chain game project SIDUS HEROES announced the completion of a $20 million funding round, with contributions from institutions such as Animoca Brands, Polygon, OKEx Blockdream Ventures, Arkstream Capital, Spark Digital Capital, AU 21 Capital, HashKey, and other angel investors.
DeFi trading platform Reposwap completes seed round of funding, led by QCP Capital
DeFi trading platform Reposwap announced the completion of a seed round of funding led by QCP Capital, with investments from ZK Prime Capital, XLink Ventures, and other investment institutions. The specific amount of funding and valuation have not been disclosed.
Personalities*Voices
Tether CEO: Over 300 million people globally use USDT, Tether is a major buyer of US Treasury bonds
Tether CEO Paolo Ardoino emphasized the important role of USDT in meeting the demand for the US dollar in emerging markets. Ardoino revealed that over 300 million people globally use USDT as a digital dollar, providing basic financial services to communities in developing countries. This stablecoin improves the efficiency of fund transfers and storage, bypassing traditional financial systems that often exclude those with limited access to banking services. If the scale of USDT usage were equivalent to a country, its economy would surpass countries like Indonesia, Pakistan, and Nigeria. Ardoino also noted that Tether is one of the top three buyers of short-term US Treasury bonds globally and ranks among the top twenty buyers overall. This reflects Tether’s increasing influence in the financial sector and the growing integration of virtual assets with traditional financial systems. Ardoino’s comments were in response to an article highlighting how USD-backed stablecoins contribute to the demand for US public debt.
DWF Labs co-founder: meme coins popular in market downturns and may rise
DWF Labs co-founder Andrei Grachev stated on X platform that when the market is down, there is certainly something that is rising as paper hands sell what they own and try to recover/catch luck. This is why meme coins are particularly popular in dull/downturn markets, as some always rise, allowing people to gamble.
Trusta CTO: Multiplier rules in ZKsync and LayerZero airdrops may exacerbate airdrop polarization and present potential manipulative space
Trusta CTO Simon posted on X platform stating that the multiplier rules in the distribution design of ZKsync and LayerZero airdrops may exacerbate airdrop polarization and provide potential manipulative space. He pointed out that in airdrops such as Optimism, Arbitrum, Celestia, and Starknet, the project teams did not design multiplier-based airdrop rules. However, in the April Wormwhole airdrop, the project team systematically used several multiplier rules without sparking community discussion. The multiplier rules used in the ZKsync airdrop design and the early disclosure of airdrop multiplier rules by LayerZero reflect strong subjectivity and user polarization. Simon expressed that while understanding the project’s emphasis on certain types of transactions, assets, and wallets, the discussion of using multiplication or addition rules in airdrop design is still worth considering.
