【Data Intelligence】
DeFi locked-up volume fell to the $70 billion range, the lowest level since March 2021
According to the DappRader Encryption Adoption Report, the DeFi locked-up volume has fallen from US$160 billion in mid-April this year to a range of US$70 billion, the lowest level since March 2021, a drop of 66%. However, the data shows that in the second quarter, the number of DeFi locked positions decreased by 15% compared with the previous quarter, and the number of unique active wallets decreased by 12%.
Coinbase’s second-quarter financial report: a net loss of approximately US$1.1 billion, and trading revenue fell by 35% from the previous quarter
According to news on August 10, Coinbase released its second-quarter financial report. In this quarter, Conbase’s net sales were approximately US$803 million, a decrease of 31% from the previous quarter, and its net loss was approximately US$1.1 billion, an increase of approximately US$440 million from the first quarter’s net loss. 155%. Monthly active users were 9 million, a decrease of 200,000 from the first quarter, and adjusted EBITDA was negative $151 million. Total transaction volume fell to $217 billion, down 30% from the first quarter, and transaction revenue was $655 million, down 35% from the previous quarter. Among them, the total trading volume of cryptocurrency spot fell by 3% month-on-month, resulting in a decline in the market share of trading volume. At the end of the second quarter, Coinbase had $96 billion in assets, down 63% from $256 billion at the end of the first quarter.
【 Regulatory News 】
Economic Daily: Beware of new tricks in the "currency circle"
The Economic Daily article pointed out that, in essence, "Second Uncle Coin" is purely conceptual hype just like the smash hit "Dogecoin" and "Shiba Inucoin" in the past two years. This kind of act of setting up a concept at random, knocking out a string of codes on the blockchain, and then generating coins with no real value support and no underlying assets as credit guarantees for sale is a trick of "cutting leeks" by collecting money. . Buying and selling virtual currency not only needs to be responsible for its own profits and losses, but also faces legal risks. Our country has already banned the speculative trading of virtual currency, and clearly identified virtual currency and related business activities as illegal financial activities. If ordinary people invest in virtual currency and are suspected of disrupting financial order and endangering financial security, relevant departments will investigate and deal with it according to law. This shows that the "currency circle" is not a place outside the law. Investors should establish correct investment concepts, enhance risk prevention awareness, and hope to get rich overnight by speculating on virtual currencies.
【Industry Trends】
Venture capital fund Financial Venture Studio completes second fund of 40 million US dollars in financing
The second fund of venture capital fund Financial Venture Studio (FVS) has completed $40 million in financing, aiming to convene partners from the entire financial services industry to interact with FVS founders to help early-stage startups and expand digital financial services to more economic field. Previously, FVS founder Ryan Falvey said that "we are eager to conduct encrypted transactions", financial technology may be different from some other categories, and the venture capital fund will explore the cryptocurrency and blockchain industries. The company primarily focuses on startups targeting the US market, including startups looking to launch locally or expand internationally, and FVS has invested in 50 companies since its launch.
Magic Eden proposes building ApeCoin DAO as an NFT marketplace
NFT marketplace Magic Eden has submitted a proposal to ApeCoin DAO to create a marketplace for $APE holders. APE token holders can buy and sell NFTs with a transaction fee of 0.75%. Our goal is to change this, the company said, with the ApeCoin DAO marketplace slashing fees, providing sustainable utility for ApeCoin, and providing a platform through which the community can launch their own projects and initiatives. Magic Eden is proposing a 1.5% fee per transaction, a 0.5% discount on all transactions made with ApeCoin, and an additional bonus for Bored Ape Yacht Club, Mutant Ape Yacht Club, and Bored Ape Kennel Club NFT holders Offer a 0.25% discount.
New lawsuit accuses Coinbase exec of misleading shareholders about listing
A Coinbase shareholder is seeking damages on behalf of the company against nine company executives and board members. CEO Brian Armstrong is one of the defendants in the new lawsuit, which seeks compensation from Coinbase executives for damages caused to the company. Donald Kocher filed a lawsuit on behalf of Coinbase Global, Inc., alleging that the company's leadership made "false and misleading statements" in public filings ahead of the company's April 2021 direct listing, and that the company's listing Allows investors to buy company shares on the Nasdaq stock exchange without the involvement of intermediaries such as Wall Street investment banks. Kirk accused nine former and current Coinbase executives, including CEO Brian Armstrong, CFO Alessia Hass and board member Mark Anderson, of violating federal securities laws, abusing their power and causing financial damage to the company. losses, and "serious mismanagement".
Circle will only support the Ethereum PoS chain after the Ethereum merger is complete
Circle issued a document stating that it will only support the Ethereum PoS chain after the Ethereum merger is completed, and it is expected that USDC’s on-chain functions or fully automatic issuance and redemption services will not be interrupted. Previously, Tether Chief Technology Officer Paolo Ardoino said that support for ETH2 will be seamless, and Tether plans to support ETH2.
CreatorDAO completes $20 million in seed round financing led by a16z and Initialized Capital
On August 9th, CreatorDAO completed a $20 million seed round of financing, led by a16z and Initialized Capital, with participation from Paris Hilton and musician The Chainsmokers. It is reported that CreatorDAO invests in creators in exchange for a certain percentage of their future income. The DAO structure allows crowdsourcing investment decisions and rewards contributions to the DAO.
【Elite Viewpoint】
V God: Donated to Ukraine using TornadoCash
Ethereum creator Vitalik Buterin has publicly admitted to donating to Ukraine using Tornado Cash. Vitalik Buterin clarified that he uses Tornado Cash to protect the recipients of the funds, not himself. Commenting on the Twitter discussion, Buterin outlined legitimate Tornado Cash use cases and the benefits of financial privacy, including making donations to Ukraine without notifying the Russian government, to which Buterin said he has used the protocol to make private donations.
【What to watch today】
Curve: Curve.fi domain name server has been stolen, users need to remove the relevant contract authorization
On August 10th, Curve tweeted that the Curve.fi domain name server was stolen. If the user approved the 0x9eb5f8e83359bb5013f3d8eee60bdce5654e8881 contract on Curve in the past few hours, please revoke it immediately and use curve.exchange temporarily.
Scan the code to follow the link to finance
All the latest information
A scam targeting cryptocurrency investors in Hong Kong has led to losses of HK$14.8 million, with victims tricked into making transactions at fake exchange shops. One businessman lost HK$4 million after realizing he was locked inside a shop while scammers escaped with his money.
WeatherlyChina announced a "policy bazooka" on Tuesday, introducing measures to boost its economy, including cuts to mortgage rates, the reserve requirement ratio, and new stock market support tools. The key question: will this stimulus boost crypto or push interest towards cheaper fiat currencies?
CatherineLINE NEXT has launched “Super Mates,” an app that allows fans to interact with AI-driven avatars of their favorite artists in English, Korean, or Japanese. To celebrate, they’ve partnered with K-pop group aespa, offering exclusive rewards and merchandise while inviting users to engage in various activities until October 2024.
JoyAt the TOKEN 2049 Summit in Singapore, BONK, a meme coin under the US blue-chip public chain Solana, announced that it would launch an ETP and hinted that an ETF might be launched in the future. The token has skyrocketed by more than 8,788% in one year.
AlexA report by crypto analysis company Chainalysis shows that China's over-the-counter cryptocurrency transactions attracted $75 billion, and about 55% of over-the-counter cryptocurrency transactions exceeded $1 million.
MiyukiThe TUSD stablecoin has been decoupled from the US dollar in the short term, and the decentralized exchange Curve Finance has removed TUSD from its stablecoin crvUSD collateral. After BUSD encountered US regulation, Binance Exchange has stepped on the thunder for the second time and has stopped Launchpool support for TUSD.
WeiliangDonald Trump proposed that the U.S. national debt of $35 trillion could be eliminated with cryptocurrency, sparking laughter at a recent event and raising questions about his understanding of economic policy. His comments reflect a broader trend among political figures to simplify complex fiscal issues, highlighting a disconnect between rhetoric and reality in the discussion of national debt.
WeatherlyOnyx Protocol recently lost $3.8 million in a hack exploiting a known vulnerability in its forked Compound V2 code. Attackers targeted empty markets, echoing similar breaches in other Compound forks, highlighting ongoing security concerns in DeFi. This is not Onyx Protocol's first breach.
CatherineThai authorities arrested nine Vietnamese men for detaining a Thai woman and a Taiwanese man over a cryptocurrency dispute involving a 1.7 million baht debt. The suspects used violence against the Taiwanese man, threatening him and demanding payment, while police swiftly intervened after the man's family reported his abduction.
AnaisFollowing Hamster Kombat’s airdrop, many players expressed disappointment, feeling their in-game efforts as CEOs were poorly rewarded. The airdrop, deemed "dust," coincided with a 45% drop in HMSTR token value. Is the once-thriving tap-to-earn game all tapped out?
Kikyo