70 million USDT was transferred to Bitfinex. Ronaldo released another set of NFTs

Headlines

▌70 million USDT transferred from Tether Treasury to Bitfinex

According to on-chain analyst WhaleAlert, 70,000,000 USDT (70,000,000 US dollars) were transferred from Tether Treasury to Bitfinex at around 01:08 Beijing time.

▌Football superstar Cristiano Ronaldo released another set of NFTs on Binance

Football superstar Cristiano Ronaldo released another set of NFTs on Binance this week, his fourth set of NFTs since partnering with Binance in mid-2022. According to the Binance website, NFTs give holders the opportunity to meet Ronaldo and have access to exclusive content. A few weeks ago, a Florida judge rejected a motion by Ronaldo’s legal team to dismiss a $1 billion class-action lawsuit filed against him for promoting a cryptocurrency exchange, Newsweek reported. The lawsuit claimed that Ronaldo did not disclose specific details of the promotion and that he actually assisted Binance in selling unregistered currencies.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is $68,349.10, with a daily increase or decrease of +1.2%;

ETH's latest transaction price is $3,748.09, with a daily increase or decrease of -0.4%;

BNB's latest transaction price is $594.83, with a daily increase or decrease of -0.0%;

SOL's latest transaction price is $167.00, with a daily increase or decrease of -0.7%;

XPR recently traded at $0.5189, with a daily change of -0.8%.

Policy

▌Biden: Appropriate guardrails to protect consumers and investors are essential to taking advantage of the potential benefits and opportunities of crypto asset innovation

President Joe Biden has formally vetoed the SAB121 bill. Biden said in a veto message released late Friday that my administration will not support measures that endanger the well-being of consumers and investors. Appropriate guardrails to protect consumers and investors are essential to taking advantage of the potential benefits and opportunities of crypto asset innovation. Biden added in his statement that he is eager to work with Congress to ensure a comprehensive and balanced regulatory framework for digital assets.

Blockchain Applications

▌Ethereum GPU Leasing Protocol Node AI Updates Roadmap

On June 1, Ethereum GPU Leasing Protocol Node AI published an article on the X platform, and has updated its roadmap, including: Cloud Environment (Hardware) GPU Node: Powerful GPUs that can handle demanding AI tasks. Workers: Improve task execution and data processing. Service LayerTask Distribution: Smart contracts for efficient task distribution. AI Service Integration: Dockerized AI services for seamless integration. Blockchain LayerEVM Pallet: Smart contracts in the blockchain. NodeAI Network: Our decentralized cloud network. Infrastructure Layer Kubernetes: Container orchestration for managing workloads. Support component monitoring tools: performance and health monitoring.

▌Taproot Wizards CEO: Bitcoin could be more powerful than it is now

As efforts to add new features through software upgrade codes continue to advance, the reputation of the Bitcoin blockchain as the network that primarily supports digital gold may change. In fact, you can execute smart contracts on the Bitcoin chain that are very similar to those on other chains, said Udi Wertheimer, CEO of OP_CAT supporter Taproot Wizards, in an interview. Bitcoin could be more powerful than it is now. It's time to talk about actual technical upgrades. The OP_CAT feature was introduced by Ethan Heilman and Armin Sabouri in October and was recently launched on the Bitcoin test network Signet and was assigned the BIP-420 number, indicating that it is being seriously considered for upgrading. Many well-known figures in the cryptocurrency community, including Solana Labs co-founder Anatoly Yakovenko, added "BIP-420" to their names on the social media site X. Taproot Wizards launched the Quantum Cats Ordinals series in February to promote OP_CAT. In April, the company released a white paper outlining a framework for building applications using OP_CAT.

▌Henry Elder: If OP_CAT is advanced, then every use case on every chain has the potential to return to Bitcoin

Henry Elder, head of UTXO Management, an investor in Taproot Wizards, said in an interview that if the innovation OP_CAT is advanced, then every use case on every chain has the potential to return to Bitcoin. For example, OP_CAT could enable so-called non-ambiguous contracts - Bitcoin contracts that punish people who try to use the same coin twice. Or, if someone's wallet is hacked, the owner may have time to reverse the hacked transaction. Blockstream CEO Adam Back said this is a good idea because Bitcoin custody benefits from some additional programmability, and additional programmability can enable more Layer 2 features. For example, these features can build better bridges with secondary blockchains to make transactions safer and easier.

▌ARK spokesperson: will continue to evaluate effective ways to provide investors with access to this innovative technology

According to a revised prospectus (i.e. S-1) submitted to the U.S. Securities and Exchange Commission on Friday evening, Ark's name has been removed from the company's spot Ethereum ETF application submitted in cooperation with 21Shares. The name of the fund has been changed from Ark 21Shares Ethereum ETF to 21Shares Core Ethereum ETF. An ARK spokesperson said by email that at present, ARK will not advance the development of an Ethereum ETF. We will continue to evaluate effective ways to provide our investors with access to this innovative technology to fully utilize its advantages.

▌Jiading District, Shanghai: Constructing Metaverse Infrastructure and Supporting Metaverse Technology to Empower the Automotive Industry

The People's Government of Jiading District, Shanghai issued the "Action Plan for Further Promoting the Construction of New Infrastructure in Jiading District (2024-2026)". It mentioned that the Metaverse infrastructure should be constructed. Relying on Yuanchuang Bay, Nanxiang Game Valley and other positions, AIGC, three-dimensional digital space, virtual digital people, AR/VR, blockchain and other Metaverse technologies are comprehensively applied to create interactive, situational and immersive Metaverse demonstration application scenarios. Support Metaverse technology to empower the automotive industry, focus on technology research and development, scene creation, technology transformation and other links around the sub-sectors of "Metaverse + Smart Cockpit" and "Metaverse + Smart Manufacturing", and create benchmarks and models for the automotive Metaverse industry. Relying on the "Ai Shang Jiading" digital display and promotion platform, promote the digital service supply of cultural and tourism venues such as public libraries, museums, and scenic spots. Encourage multiple entities to participate in the construction of the Shanghai Cultural Data Service Platform, support industry entities to carry out data collection and processing in accordance with the law, and guide the sharing and use of data resources.

Cryptocurrency

▌Data: US spot Bitcoin ETF purchased 2,730 BTC this week

HODL15Capital monitoring, US spot Bitcoin ETF launched in the 21st week, ETF purchased 2,730 BTC this week.

▌Skybridge Capital founder: Biden's veto of SAB 121 bill is a very wrong decision

Skybridge Capital founder and managing partner Anthony Scaramucci said on the X platform that President Biden's position on cryptocurrency may cost him more. Vetoing SAB 121 is a very wrong decision, especially at this critical moment.

▌Data: 32 total security incidents recorded in May, with a total loss of more than $429 million

According to SlowMist statistics, a total of 32 security incidents were recorded in May, with a total loss of more than $429 million. The two incidents involved a total amount of $375 million. It was also found that more than $90 million of the funds involved were returned. Contract vulnerabilities still account for the majority of reported incidents.

▌Entities holding 10 million to 100 million ETH have increased by about 0.5% since May 20

Data shows that entities holding 10 million to 100 million ETH have increased by about 0.5% since May 20, when there were rumors that the SEC would reconsider the plan. Meanwhile, the ETH/USD exchange rate surged 19.25% and continued to rise after the SEC's approval on May 23.

▌Data: South Korea's AI token trading share rose to 18.7% in May

As artificial intelligence hype permeates the cryptocurrency space, risk-loving South Korean traders are making a big push into digital assets related to the AI ​​theme. Kaiko data shows that South Korea's AI token share of global weekly trading volume rose from a low of 0.6% in mid-2023 to 18.7% in May. Such tokens are often issued by early-stage projects seeking to deploy blockchain technology to AI services - the practicality of this combination has yet to be proven. Research shows that many South Koreans are fascinated by both AI and cryptocurrencies. About 10% of the population has been exposed to tokens, and less volatile tokens (rather than market leaders Bitcoin and Ethereum) make up the bulk of local transactions. Kaiko said weekly trading volume for AI tokens has averaged $8 billion since February, up from an all-time low of $300 million in mid-2023. Meanwhile, data from the Korea Securities Depository showed that Nvidia Corp. and Microsoft Corp. ranked second and third, respectively, among the most popular overseas stocks for domestic investors this year. 800 million XRP locked in Ripple escrow wallets, another 1 billion XRP unlocked According to on-chain data tracking service Whale Alert, at around 5:41 a.m. Beijing time on June 2, Ripple locked a total of 800 million XRP in escrow wallets through two transactions, one for 500 million XRP and the other for 300 million XRP, with a total value of more than $416 million. In addition, two unknown wallets on the Ripple blockchain unlocked transactions totaling 1 billion XRP, each for 500 million XRP, worth more than $519 million.

▌U.S. Senator: Bought 3 Bitcoin mining machines and started mining in Texas

U.S. Senator Ted Cruz said he bought 3 Bitcoin mining machines and started mining in Texas.

Important Economic Dynamics

▌U.S. President Biden lags behind former U.S. President Trump 32% to 44% among non-college educated voters

According to a Reuters/Ipsos poll: U.S. President Biden lags behind former U.S. President Trump 32% to 44% among non-college educated voters, a 10% drop from the same period in 2020; U.S. President Biden lags behind former U.S. President Trump 33% to 38% among voters in households with an annual income of less than $50,000, a 14% drop from the same period in 2020.

Golden Encyclopedia

▌What is ERC-404?

ERC-404 is an experimental token standard that combines elements of the ERC-20 and ERC-721 token standards to generate tokens with the properties of both fungible and non-fungible tokens. Named after the famous webpage error code "Error 404", the ERC-404 token standard enables NFTs to be subdivided within the limits of the Ethereum network. This is achieved by linking NFTs to fungible tokens to implement fractional division.

Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish the correct investment concept and be sure to enhance risk awareness.