Coinbase denies customer data leak, SOL ETF will be difficult to get approved this year

Headline

▌Coinbase denies customer data leak, Au10tix employee credentials leak raises security concerns

Crypto exchange Coinbase today denied any leak of its customer data and responded to the leak of employee credentials of the compliance platform Au10tix. Au10tix said that although the credentials had been leaked, there was no evidence that the data had been abused. The report said that these credentials could allow hackers to obtain sensitive information of users, such as name, date of birth and driver's license image. Au10tix has removed the relevant credentials and strengthened security measures to prevent similar incidents from happening again. Coinbase has not confirmed whether it uses Au10tix to store customer data, but insists that no data leaks have been found so far.

▌Wintermute founder: SOL ETF is unlikely to be approved this year

Wintermute founder and CEO Evgeny Gaevoy said on the X platform that the possibility of SOL ETF being approved this year is almost zero (it is quite stupid to wishfully think that this will become a priority for the Trump administration). Wintermute is a long-term supporter of SOL and ETH, but it should not be over-exaggerated. It is better to be realistic. The adoption of cryptocurrencies takes time. Once you really see the inflow of funds into the ETH ETF, you will understand that even if the SOL ETF is approved, the inflow will be less.  

Previously, asset management agency VanEck submitted the first Solana ETF application in the United States.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is $61567.68, with a daily increase or decrease of +1.3%;

ETH's latest transaction price is $3443.92, with a daily increase or decrease of +2.2%;

BNB's latest transaction price is $580.53, with a daily increase or decrease of +1.4%；

SOL's latest transaction price is 149.45 US dollars, with a daily increase or decrease of +9.3%；

DOGE's latest transaction price is 0.127 US dollars, with a daily increase or decrease of +3.5%；

XPR's latest transaction price is 0.4748 US dollars, with a daily increase or decrease of +1.2%.

Policy

▌Innovation Crypto Commission UK Head: UK needs to act quickly to regulate crypto companies

The Labour Party, which is expected to win the upcoming general election, has not yet taken a clear position on digital assets. Laura Navaratnam, head of UK policy at the Innovation Crypto Commission, said the new government needs to act quickly to ensure that the UK's leadership in global crypto innovation is not weakened.  

The UK's crypto ecosystem has grown steadily over the past 15 years under the support of the Conservative government. Former Treasury Economic Secretary John Glen and his successors Andrew Griffith and Bim Afolami promised to make the UK a global center for crypto asset technology.  

Navaratnam suggested that the new government immediately focus on the following points: stablecoin regulation, pledge regulatory clarity, and financial promotion guidance. In addition, she warned that if the new government does not act quickly, the UK will lose its global innovation leadership.

▌Dragonfly Capital partner: The US SEC has made it clear that SOL is a security and will not give up this decision

Hasseb Qureshi, partner of Dragonfly Capital, said that the approval of the SOL ETF is unlikely to be achieved. He believes that VanEck's application for the SOL ETF may just be "buying goodwill" to lay the foundation for the development of similar products, because the US Securities and Exchange Commission has made it clear that SOL is a security and the regulator will not give up this decision.

▌Biden campaign team hired Coinbase advisory board members as 2024 election consultants

The Biden campaign team hired Keisha Lance Bottoms as a senior adviser for the 2024 election. Lance Bottoms served as mayor of Atlanta from 2018 to 2022 and joined the Coinbase advisory board in April 2024 after she resigned as a White House adviser in 2023.  

Foreign media The Hill said on June 27 that Lance Bottoms will remain at Coinbase during President Biden's campaign, which is expected to end when American voters vote in November. The news media reported that the former mayor said that cryptocurrency is a "non-political, unifying issue." It is not clear whether Lance Bottoms will provide advice to the Biden campaign team on cryptocurrency-related issues.  

According to The Hill, Lance Bottoms once said at the Stand With Crypto Atlanta event: "Cryptocurrency provides an opportunity to strengthen financial freedom for communities that are typically unbanked and underbanked."

▌Bolivia lifts ban on Bitcoin and crypto payments

Bolivia lifted its ban on Bitcoin and crypto payments, officially legalizing it for financial entities.

▌Paradigm urges European regulators to handle MEV issues "delicately"

Paradigm has submitted opinions to the European Securities and Markets Authority (ESMA) on preventing abuse in the crypto asset market. They pointed out that ESMA should avoid misapplying concepts from traditional financial markets to the underlying blockchain level when dealing with maximum extractable value (MEV) to avoid inconsistencies and unexpected consequences. Paradigm calls on ESMA to have a deeper understanding of MEV and support innovative tools to address potential abuse risks.

Blockchain Applications

▌Viewpoint: Ethereum L2 ecosystem transaction throughput will exceed Solana 100 times in 5 years

Analyst Ryan Berckmans said that despite the bearish market, Ethereum's second-layer expansion ecosystem is growing rapidly. Berckmans noted that L2 protocols and EVM extension platforms are rapidly gaining popularity, with Coinbase, Worldcoin, and Immutable X all launching EVM L2. He predicts that L2's transaction throughput will exceed Solana's by 100 times in the next five years. Currently, the total locked value of all L2 protocols is $42.86 billion, a value that has remained stable since March despite the decline in the crypto market.

▌Cardano Integrates IBC Protocol to Enhance Connectivity and Join the Cross-Chain Ecosystem

The Cardano Foundation announced the integration of the Inter-Chain Communication Protocol (IBC) for reliable transactions and data exchange across different blockchain networks to enhance connectivity and join the cross-chain ecosystem.  

By introducing IBC functionality to Cardano, projects seeking to build a bridge between the Cardano network and sidechains based on the Cosmos SDK may use this solution.  

In addition to joining the cross-chain ecosystem, the implementation of IBC for Cardano also adds another option to connect Ethereum Virtual Machine (EVM)-based sidechains to Cardano. This will allow developers to seamlessly deploy EVM-based decentralized applications (DApps) on the Cardano sidechain.

▌S&P Global Ratings Joins Singapore's "Guardian Program" to Promote Digital Transformation of Financial Markets

S&P Global Ratings announced that it has joined Singapore's "Guardian Program" to explore tokenization on public blockchains. The program is led by the Monetary Authority of Singapore (MAS) and brings together 18 financial institutions and regulators. S&P will focus on developing digital asset analysis frameworks and assessments in the fixed income field. Several financial institutions are conducting fixed income-related trials, reflecting the push for digital transformation in financial markets.

▌Decentralized cross-chain oracle network developer AnchorZero completes $8 million seed round of financing

Decentralized oracle network developer AnchorZero announced the completion of $8 million in seed round of financing, led by Bain Capital Crypto and Spark Capital, with participation from Ethereal Ventures, Robot Ventures, Mischief Fund, Pascal Capital, and Sarah Meyohas. The specific valuation information has not been disclosed. AnchorZero is a blockchain technology company specializing in the development of decentralized cross-chain oracle networks, providing secure and reliable price feed data services for smart contracts, allowing access to external data of smart contracts on multiple platforms, and they also provide Web3 tax planning solutions.

Cryptocurrency

▌Coinbase and Stripe partner to expand global adoption of cryptocurrency

Stripe and Coinbase announced a partnership to increase on-chain adoption and provide faster and cheaper financial infrastructure. Stripe will add support for Base to its suite of crypto products to provide users with faster and cheaper remittance services, while Coinbase will add Stripe's fiat-to-cryptocurrency portal to Coinbase Wallet to allow users to instantly purchase cryptocurrencies with credit cards and Apple Pay.

▌A proposed Bitcoin and gold combined ETF may launch on September 9

A proposed exchange-traded fund (ETF) filed its prospectus on Thursday, aiming to allow traders and investors to invest in bitcoin and gold without having to buy either asset. STKD Bitcoin&Gold ETF is jointly launched by Tidal Investments and Quantify Chaos Advisors, aiming to provide investment opportunities in the performance of Bitcoin and gold prices through Bitcoin futures and ETFs as well as gold futures and ETFs. According to the prospectus, the strategy is based on the idea that investing in a Bitcoin strategy and a gold strategy together may bring complementary benefits. It aims to reduce the impact of short-term market fluctuations on overall investment results, thereby potentially providing a more stable investment trajectory. The document specifies that the effective date of the ETF is September 9, 2024, but does not include a stock code or any related fees. ▌ BlackRock IBIT holdings have not changed for two consecutive trading days BlackRock's official spot Bitcoin ETF data shows that as of June 26, IBIT's market value reached US$18,584,300,966.09, and its holdings remained at 305,612.3283 BTC, which has not changed for two consecutive trading days.

▌BlackRock: Investors use Bitcoin to hedge against geopolitical uncertainty

According to Bitcoin Archive’s post on the X platform, BlackRock said Bitcoin is an “emerging asset” that investors use to hedge against geopolitical uncertainty.

▌Bloomberg ETF Analyst: T-Rex has applied for a 2x Microstrategy stock MSTR ETF

Bloomberg analyst Eric Balchunas posted on the X platform that T-Rex has just applied for a 2x Microstrategy stock MSTR ETF, which will almost certainly become the most volatile ETF in the history of the United States, and its volatility is likely to be about 20 times that of SPX.

▌21Shares submits 8-A12B document for its spot Ethereum ETF

ETF analyst Henry Jim wrote that 21Shares submitted 8-A12B document for its spot Ethereum ETF.

▌SOL fell below $150

The market shows that SOL fell below $150 and is now at $149.99, with a daily increase of 9.36%. The market is volatile, so please do a good job of risk control.

▌Yesterday, GBTC had a net outflow of $11.4 million

According to Farside Investors, the data of the US spot Bitcoin ETF yesterday (June 26) showed that GBTC had a net outflow of $11.4 million; BITB had a net inflow of $8 million.

Important Economic Dynamics

▌The probability of the Federal Reserve keeping interest rates unchanged in August is 89.7%

According to CME's "Fed Watch": The probability of the Federal Reserve keeping interest rates unchanged in August is 89.7%, and the probability of a 25 basis point rate cut is 10.3%. The probability of the Federal Reserve keeping interest rates unchanged by September is 35.9%, the probability of a cumulative 25 basis point rate cut is 57.9%, and the probability of a cumulative 50 basis point rate cut is 6.2%.

▌The three major U.S. stock indexes closed up collectively, and hot technology stocks rose and fell.

The three major U.S. stock indexes closed up collectively, with the Dow Jones Industrial Average up 0.09%, the Nasdaq up 0.3%, and the S&P 500 up 0.09%. Hot technology stocks rose and fell. Amazon rose more than 2%, and Nvidia fell nearly 2%. Computer hardware, solar energy, and software applications rose the most, with American Software up more than 8%, AMD up more than 7%, Ancomon up more than 6%, and Salesforce and Sunrun up more than 4%.

▌International Monetary Fund: The Federal Reserve should wait until at least the end of 2024 to lower the policy interest rate

The International Monetary Fund expects the U.S. PCE inflation rate to return to the target level of 2% in mid-2025, and the Federal Reserve should wait until at least the end of 2024 to lower the policy interest rate.

Golden Encyclopedia

▌What is an unlimited coin minting attack?

An unlimited coin minting attack is when an attacker manipulates the contract code to continuously mint new tokens that exceed the authorized supply limit. Malicious actors may profit from such attacks by selling illegally created tokens or interfering with the normal operation of the affected blockchain network. The prevalence of unlimited coin minting attacks emphasizes the importance of conducting thorough code audits and incorporating security measures into smart contract development to prevent such vulnerabilities.

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