Planet Daily Curve Founders Leveraged Position Liquidated MicroStrategy to Continue Buying Bitcoin June 14th

Top Headlines
The founder of Curve has liquidated about 100 million CRV, with a remaining healthy position above 1, will not be liquidated temporarily
According to Ember’s detection, Curve founder Michael Egorov has liquidated about 100 million CRV, valued at around $27 million. The remaining position is 39.35 million CRV in the main address, with a loan of $5.4 million, currently with a healthy ratio above 1 and will not be liquidated temporarily.
MicroStrategy: to use profits to buy more Bitcoin
MicroStrategy has stated that they will use profits to buy more Bitcoin.
SEC Chairman: Ethereum ETF S1 expected to be approved this summer
According to market news, SEC Chairman Gary Gensler stated that the Ethereum ETF S1 is expected to be approved sometime this summer. According to FOX reporter Eleanor Terrett, Gary Gensler revealed this information while communicating with US Senator Bill Hagerty.
Industry News
DTCC official website lists Invesco and Galaxy Ethereum spot ETF code QETH
The DTCC official website has listed the Ethereum spot ETF “INVESCO GALAXY ETHEREUM ETF SHS” (code QETH) launched by Invesco and Galaxy, with the Create/Redeem column showing as N.
“Fortune”: Terraform Labs bankrupt and unable to pay $4.47 billion fine to SEC
According to “Fortune” magazine, reports by Bloomberg that Terraform Labs will pay $4.47 billion to the SEC are considered misleading, as the SEC may only receive a small portion of the fine, or even none at all. It is reported that Terraform Labs is almost bankrupt and it is unclear if Do Kwon still owes the $204 million judgment.
Paradigm launches a third fund with a size of $850 million
According to official sources, Paradigm has announced the launch of a third fund with a size of $850 million, focusing on early-stage crypto projects.
He Yi: Binance and Coinbase are not in the same race
Binance co-founder He Yi stated in X Space that Coinbase is a good trading platform and they are excellent, but fundamentally, Binance and Coinbase are on completely different paths in the blockchain race.
Insiders: Biden campaign team considering accepting cryptocurrency donations through Coinbase Commerce
Insiders revealed that US President Biden’s campaign team is in discussions with cryptocurrency industry insiders to accept cryptocurrency donations through Coinbase Commerce. Coinbase Commerce allows merchants to accept payments in dozens of cryptocurrencies. Last month, Trump’s campaign team started accepting cryptocurrency donations through the platform. The discussions are the latest move by the Biden campaign team to attract cryptocurrency supporters before the election, with some congressional experts believing that the election results will be decided by a narrow margin. An insider mentioned that the Biden team may be seeking support from financially sound cryptocurrency supporters. The Biden campaign team did not immediately respond to requests for comments. A source working with political figures and leaders in the crypto industry stated: “They are paying attention to the issues in the crypto industry and trying to find a quick way to show their support for the industry. They want to show that they are not enemies.” The Biden campaign team has increased its engagement with the crypto community in recent weeks, following Trump’s attention for taking a supportive stance on cryptocurrencies. An insider said that key figures in the Biden camp have specifically warned the team that remaining silent on cryptocurrency issues could lead to losing the election. He emphasized that the negotiations regarding accepting cryptocurrency donations by the Biden camp are still in the “exploratory” stage.
Coinbase CEO meets with several senators in Washington to discuss setting clear rules for the crypto industry
Coinbase CEO Brian Armstrong stated that he has met with several Democratic and Republican senators in Washington in the past 48 hours to discuss setting clear rules for the crypto industry and consumer protection measures for crypto users. Armstrong mentioned that with the FIT 21 bill passing in the House of Representatives, there is strong bipartisan consensus in the Senate to push for related legislation. It is encouraging to see that the voices of cryptocurrency voters have had an impact.
US May Producer Price Index unexpectedly drops, boosting hopes for a Fed rate cut in September
Due to a drop in energy costs, the US May Producer Price Index unexpectedly declined, indicating a decline in inflation after a surge in the first quarter. Data from the US Bureau of Labor Statistics shows that the May PPI fell by 0.2% month-on-month, compared to an unadjusted increase of 0.5% in April. Year-on-year, the PPI rose by 2.2% in May, following a 2.3% increase in April. Prior CPI data cooling down has bolstered financial markets’ hopes for a Fed rate cut starting in September, with economists optimistic about two rate cuts by the Fed this year.
Project News
Curve founder: repaid 93% of CRV bad debt liquidated on Curve lending platform
Curve founder Michael Egorov posted on X stating: “The Curve Finance team and I have been working hard to address the liquidation risk issue. Many know that all my loans have been liquidated. My position was too large for the market to bear, resulting in a $10 million bad debt. Only the CRV pool on the Curve lending platform (lend.curve.fi) was affected. I have already repaid 93% and plan to repay the remaining bad debt soon, which will help users avoid losses in such situations.”
GME selects DWF Labs as its market maker and creates a dedicated multisig wallet
Officially, GME announced that it has selected DWF Labs as its market maker and, to streamline the process, GME expressed its desire to consolidate funds into as few wallets as possible. Therefore, they have established a dedicated market maker wallet that will use multisig to enhance security and transparency, recording all transactions promptly.
Terraform Labs CEO: considering dissolving the company and selling projects for community takeover
Terraform Labs CEO Chris Amani stated that the company plans to dissolve, sell its projects in the Terra ecosystem, including Pulsar Finance, Station Wallet, and Enterprise DAO. Earlier, the SEC stated that Terraform had agreed to pay $4.47 billion in its litigation case.
crvUSD shows a premium this morning due to CRV liquidation, Wintermute seizes the opportunity to sell for a profit of $630,000
According to on-chain analyst @ai_9684xtpa, crvUSD showed a premium this morning due to CRV liquidation, rising to a high of $1.07. Wintermute took advantage of this opportunity to sell 9.29 million crvUSD for USDC at an average price of $1.06779, making a profit of approximately $630,000.
Bankless co-founder: Discord survey shows overall satisfaction with ZKsync airdrop
Bankless co-founder David Hoffman posted on X platform stating that based on survey data obtained in Discord (which requires real identity verification), most people expressed overall satisfaction with the ZKsync airdrop. Those who expressed disappointment often use the ZKsync Lite network or the Argent wallet and felt that the airdrop verification process had issues. The reasons for disappointment among users are completely different from the highly automated activities on X.
Paxos lays off about 20% of employees to focus resources on potential opportunities in tokenization and stablecoins
Stablecoin issuer Paxos announced a layoff of about 20%, affecting 65 employees. Paxos co-founder and CEO Cascarilla stated in an internal email that the company is in good financial standing with over $500 million on the balance sheet. The layoffs are aimed at concentrating resources on tokenization and stablecoins. Paxos has provided severance pay for affected employees, 3 months of medical insurance subsidies, 3 months of re-employment support, and a two-year extension of vested options. Additionally, the company has provided second-quarter bonuses to employees participating in the quarterly incentive plan, as well as compensation and benefits to employees granted maternity or sick leave. An insider mentioned that after the layoffs, Paxos currently has between 200-300 employees. Paxos completed a $300 million Series D funding round in 2021, with a valuation of $2.4 billion.
LayerZero CEO: nearly 200 witch reports approved, review in final stage
LayerZero CEO Bryan Pellegrino posted on X stating, “Almost 200 approved witch reports (valid + partially valid), feels great to be in the final stage.”
Zyfi identified as “ZKsync native project” and receives over 1.64 million ZK token airdrop
Native account abstraction layer Zyfi announced on X that it has been identified as a “ZKsync native project” and received an airdrop of 1,642,005 ZK tokens, which will be used to continue developing the project, serving the community, and providing a gas-free experience for the entire ecosystem.