News Preview:
- The disclosure of the risk warning for cryptocurrency trading in Thailand will take effect on July 31, 2023.
- The Chicago Mercantile Exchange (CME) plans to launch ETH/BTC ratio futures on July 31.
- New York hedge fund Fir Tree LianGuairtners plans to launch a new fund focused on distressed cryptocurrency assets on August 1.
- Litecoinhalving data shows that the Litecoin (LTC) block reward halving is expected to occur at 05:02:53 on August 3, 2023 Beijing time.
- Galxe (GAL) and dYdX (DYDX) will unlock tokens worth millions of dollars.
For more previews of the week, please click to download the LianGuaiNews APP and follow the event calendar section launched by LianGuaiNews to read more real-time blockchain news and in-depth articles anytime, anywhere.
July 31
Policy and Regulation:
SEC Thailand: Risk disclosure rules for cryptocurrency trading will take effect on July 31.
- LianGuai Daily | Ethereum Mainnet Celebrates its 8th Anniversary; 90 Virtual Asset-related Companies Have Intention to Settle in Hong Kong Since October Last Year
- Three days to release a blockbuster AIGC unlocks new methods for cultural and tourism marketing.
- Decrypting the ‘cult’ mentality How to identify future projects that may become fanatical in the early stages
The Securities and Exchange Commission of Thailand (SEC) has previously issued warning disclosure rules on the risks of cryptocurrency trading and service bans on its official website. The main points are as follows: 1. The disclosure of risk warnings for cryptocurrency trading will take effect on July 31, 2023, requiring cryptocurrency exchange operators, cryptocurrency brokers, and cryptocurrency traders to disclose warnings about potential risks associated with cryptocurrency trading. 2. Digital asset business operators are prohibited from providing or supporting deposit and lending services (deposits and loans) to depositors. This will take effect on August 30, 2023.
Exchange:
CME plans to launch ETH/BTC ratio futures on July 31.
The CME Group announced that it plans to launch Ethereum/Bitcoin (ETH/BTC) ratio futures on July 31, subject to regulatory approval. This futures product will be cash-settled and will determine its value by dividing the final settlement price of CME Ethereum futures by the corresponding final settlement price of CME Bitcoin futures. In May of this year, CME added daily expiring Bitcoin and Ethereum futures and micro Bitcoin and Ethereum futures.
Binance will conduct maintenance on the BNB Smart Chain (BEP20) wallet on July 31, which is expected to take half an hour.
Binance will conduct maintenance on the BNB Smart Chain (BEP20) wallet on July 31, 15:00 (Beijing time), which is expected to take half an hour. During the wallet maintenance period, the trading of digital assets/tokens on the BNB Smart Chain (BEP20) will not be affected. Deposits and withdrawals of BNB Smart Chain (BEP20) will be suspended from 14:45 (Beijing time) on July 31, and after the wallet maintenance is completed, the deposit and withdrawal functions will be reopened without further notice.
Singaporean cryptocurrency investment app Pillow will cease all services and applications on July 31, 2023.
The encryption investment application Pillow, headquartered in Singapore, plans to stop all services and applications in the coming weeks due to regulatory uncertainty. Pillow has requested customers to withdraw all funds from the Pillow app and has stated that it will terminate all current services on July 31, 2023.
Bybit, the cryptocurrency exchange, will withdraw from the Canadian market, and deposit and opening services will end on July 31.
Due to recent regulatory changes in Canada, Bybit has gradually withdrawn from the Canadian market since May 31. The company stated that it will no longer open new accounts starting from May 31, while existing customers can still deposit and open positions until July 31, and will be able to withdraw or close positions after the deadline. In February of this year, Canada announced new guidelines for cryptocurrency companies, requiring cryptocurrency trading platforms to obtain approval from the Canadian Securities Administrators (CSA), including through various due diligence processes.
Project Update:
The Sandbox will temporarily suspend Land cross-chain for a week starting from July 31.
The Sandbox will temporarily suspend Land cross-chain for a week starting from July 31 for maintenance until the following weekend. More details will be announced after the resumption of service.
The beta version of the Layer 1 blockchain White Shark testnet in India will go live on July 31.
The beta version of White Shark, an AI-based public Layer 1 blockchain testnet in India, will go live on July 31, 2023. White Shark provides various services (BaaS) and platforms (LianGuaiaS), all built on blockchain technology and easy to integrate across platforms. At the end of May this year, White Shark completed a $16 million financing round.
August 1st
Policy and Regulation:
Argentina will start raising electricity fees for cryptocurrency mining from August 1st, at approximately $63.3 per megawatt-hour.
The Argentine Ministry of Economy has released a revised electricity price list, which raises fees for cryptocurrency mining. According to the document, mining activities will cost approximately $63.3 per megawatt-hour, the highest level of electricity prices. In contrast, residential energy costs receive substantial subsidies, with households entitled to receive up to 70% subsidies, at a price of approximately $11.3 per megawatt-hour. This increase puts cryptocurrency mining in the same energy price range as heavy industry and higher than what commercial enterprises pay. The revised prices will take effect on August 1 and will last until October 31, 2023, when they may change again. Earlier, in early 2022, the ministry announced the cancellation of subsidies for miners’ electricity, leading to an increase in the price of 1 megawatt-hour of electricity for miners from slightly below $17 to nearly $48.
Putin officially signs the law to introduce the digital ruble in Russia, and the new legislation will take effect on August 1st.
According to an official document released by Russia, Russian President Vladimir Putin signed the bill for the digital ruble into law on July 24, and Russia is advancing its central bank digital currency (CBDC). With approval, the Digital Ruble Act is now officially scheduled to take effect on August 1, 2023. The new legislation formally authorizes the Russian central bank to launch the first CBDC pilot to real consumers in August.
Project Updates:
Trait Sniper to Conduct Large-scale Influence-based Airdrop to Twitter Users on August 1st
NFT rarity ranking tool Trait Sniper announced that its scheduled airdrop, originally planned for today, will be postponed to August 1st for distribution to Twitter users. Twitter users (no need for blue subscription) can claim corresponding TS tokens on the Trait Sniper official website based on their Twitter influence. The airdrop is based on the BNB Chain and has no pre-sale. In addition, Trait Sniper provides additional airdrop rewards to early adopters and strategic partners. According to the official whitepaper, the total supply of TS tokens is 1 trillion, with a portion dedicated to large-scale airdrops and another portion used to create initial liquidity for DEX.
Fir Tree LianGuairtners to Launch New Fund Focusing on Bad Cryptocurrency Assets on August 1st
Hedge fund Fir Tree LianGuairtners, based in New York, is launching a new fund that focuses on bad cryptocurrency assets, aiming to profit from the extreme volatility in the crypto industry over the past year. The fund is set to launch on August 1st. In its email, Fir Tree stated, “Fir Tree performs best when we find pricing errors, dislocations, or complex situations. We rarely come across all three, but that’s exactly what we see in digital assets right now.” Fir Tree also mentioned that it “does not bet on the direction of cryptocurrencies” and will attempt to “hedge any crypto risk.”
Binance Labs’ 6th Season Incubation Program Deadline on August 1st
Binance Labs has opened applications for its 6th season of the incubation program. Binance Labs Incubation Program is a customized curriculum and resource for founders to kickstart innovative early-stage Web3 projects using the entire Binance ecosystem. The deadline for applying to the Binance Incubator’s 6th season incubation program is 14:59 Beijing time on August 1st, 2023 (11:59 PM Pacific time on July 31st, 2023).
Gnosis Chain to Launch Mainnet Shapella Upgrade on August 1st
Ethereum sidechain Gnosis Chain will launch the mainnet Shapella upgrade at around 19:34 Beijing time on August 1st, at 10379264 Slot (epoch 648704).
Lido to Cease Staking Services on Polkadot and Kusama on August 1st
According to a blog post by Lido developer MixBytes, decentralized finance (DeFi) staking service Lido (LDO) will stop its staking services on Polkadot (DOT) and Kusama (KSM) on August 1st. Deposits will no longer be accepted, and all assets will be automatically unstaked on June 22nd. The official termination date is August 1st. Currently, Lido has a total of $4 million worth of DOT tokens and $75,000 worth of KSM.
Token Unlock:
dYdX (DYDX) to Unlock 6.52 Million Tokens Worth Approximately $13.5 Million on August 1st at 23:00
Acala (ACA) to Unlock Approximately 27.43 Million Tokens Worth Approximately $1.8 Million on August 1st at 15:00
August 2nd
Exchange:
Binance has opened the asset return application for users affected by the XIRTAM incident, which will end on the evening of August 2nd
Binance has issued an announcement regarding the open application for the return of assets related to the XIRTAM recovery, stating that in early May 2023, a project called XIRTAM was suspected of running away and transferred some assets to Binance.com. The platform has received reports from multiple users. Binance’s security team has assisted users in investigating this incident and has frozen the assets of the accounts suspected of fraud. For over a month, Binance’s security team has been actively communicating and resolving issues related to the XIRTAM project, and has recently completed testing for asset returns.
Binance users affected by the XIRTAM incident can submit specific information through a form before 23:59 on August 2nd, 2023, to apply for the return of XIRTAM assets. After verification, Binance’s security team will return the corresponding ETH assets to eligible users through a smart contract address.
Project Updates:
Starbucks will launch the “Green Apron” NFT series on Nifty Gateway on August 2nd
Starbucks will launch the classic “Green Apron” NFT series on the NFT marketplace Nifty Gateway on August 2nd, and it will be open to Odyssey members who meet the criteria starting at 0:00 on August 2nd Beijing time, and to the public at 3:00 on August 2nd. The series consists of 5,000 NFTs, which will be issued on Polygon, with each NFT priced at $100.
Cosmos ecosystem EVM-compatible chain Evmos will launch Evmos 2.0 on August 2nd
The Cosmos ecosystem EVM-compatible chain Evmos announced that it will launch Evmos 2.0 on August 2nd. This version is not only a rebranding, but also a major reset. Updates include enabling StakeFi and IBC composability through Evmos EVM extension, incentivizing the growing Evmos v2 token economy model, and creating consistency with future Evmos SDK chains through software licensing.
Judge extends the deadline for Genesis to submit a recovery plan to August 2nd
Judge Sean Lane, who is responsible for the Genesis bankruptcy case, has extended the deadline for the company to submit its recovery plan. Genesis must now submit its plan by August 2nd, 2023, instead of the original deadline of August 27th. The extended deadline depends on whether the company continues to cooperate with its unsecured creditors’ official committee on the plan. If there is a breakdown in discussions, the committee can request a motion to terminate the extended submission deadline with a 7-day notice. Previously, the bankruptcy judge extended the mediation period between Genesis and its creditors until June 16th.
Token Unlock:
Euler (EUL) will unlock approximately 156,000 tokens worth around $420,000 at 19:42 on August 2nd
August 3rd
Exchange:
Binance will delist CKB/BUSD, CTK/BUSD, and other isolated margin trading pairs on August 3rd
Binance Margin will remove the isolated margin trading pairs CKB/BUSD, CTK/BUSD, ELF/BUSD, FOR/BUSD, PERP/BUSD, SKL/BUSD, and UNFI/BUSD at 14:00 on August 3rd (Beijing time). At that time, Binance will perform automatic liquidation and settlement, canceling all open orders on isolated margin trading pairs. Afterward, the above trading pairs will be delisted from isolated margin trading. Therefore, Binance recommends that users close positions and/or transfer assets from the margin wallet to the spot wallet before stopping margin trading. Binance will not be responsible for any potential losses. In addition, Binance Margin Trading Platform will suspend the lending business of the above isolated margin trading pairs at 14:00 on July 26th (Beijing time).
Project Updates:
Data: Litecoin block reward halving expected on August 3rd
According to Litecoin halving data, the estimated time for Litecoin (LTC) block reward halving is 05:02:53 on August 3rd, 2023 (Beijing time). At that time, the block reward will be reduced from 12.5 LTC to 6.25 LTC.
August 4th
Policy and Regulation:
US July unemployment rate and non-farm payrolls data released
Exchange:
Binance Liquid Swap will remove APT/BUSD and other liquidity pools on August 4th
Binance Liquid Swap will close the following liquidity pools at 12:00 on August 4th (Beijing time): APT/BUSD, ATA/BTC, AXS/USDT, BAKE/BNB, BAKE/BTC, DAR/BNB, ELF/BTC, ELF/USDT, FLOKI/USDT, FTM/BNB, GLMR/USDT, GMX/BTC, GMX/USDT, GNS/USDT, ID/USDT, ILV/BTC, ILV/USDT, KSM/USDT, LOKA/BNB, LOKA/USDT, LQTY/USDT, MKR/USDT, MULTI/BTC, MULTI/USDT, NEAR/BUSD, PERP/USDT, SNX/USDT, STX/USDT, SUI/USDT, SYN/USDT, TLM/BTC. The system will automatically return the assets to users’ spot wallets at 12:00 on August 4th (Beijing time).
Key filings for Coinbase’s lawsuit with the US SEC to be submitted by August 4th
Cryptocurrency exchange Coinbase and Judge Failla in the US Securities and Exchange Commission (SEC) lawsuit have issued a scheduling order outlining key submission deadlines. Coinbase must submit a legal memorandum outlining its arguments, evidence, and supporting documents by August 4th, 2023. Interested parties supporting Coinbase’s motion for judgment on the pleadings may submit a friend-of-the-court brief by August 11th, 2023, not to exceed 20 pages. On the other hand, the SEC must submit its legal memorandum outlining its arguments and evidence by October 3rd. Interested parties supporting the SEC may submit a friend-of-the-court brief by October 10th, not to exceed 20 pages. After the SEC files its legal memorandum, Coinbase is allowed to submit a reply memorandum by October 24th, limited to 15 pages, directly responding to the SEC’s arguments and evidence.
Token Unlock:
Nym (NYM) will unlock approximately 3.13 million tokens worth about $620,000 on August 4 at 8:00
August 5th
Token Unlock:
Liquity (LQTY) will unlock approximately 657,000 tokens worth about $730,000 on August 5 at 8:00
Tornado Cash (TORN) will unlock approximately 22,000 tokens worth about $80,000 on August 5 at 11:06
Galxe (GAL) will unlock approximately 7.61 million tokens worth about $9.75 million on August 5 at 20:00
Specific time to be determined
Exchange:
Binance will provide comprehensive services on a new platform in Japan in August
Binance will begin offering comprehensive services on a new platform in Japan in August. Earlier, Binance announced that it is creating a new platform for Japanese residents to fully comply with local regulations. The statement stated that services on the existing global platform will stop serving Japanese residents on November 30, and current users will be able to migrate to the new local platform through the new identity verification process launched after August 1. It is reported that in November 2022, Binance announced the acquisition of 100% of the shares of Sakura Exchange BitCoin (SEBC), a registered cryptocurrency trading service provider in Japan. Through this acquisition, Binance has entered the Japanese market as an entity regulated by the Japanese Financial Services Agency (JFSA). The terms of the transaction were not disclosed. The official announcement stated that the acquisition of SEBC marked Binance’s first license in the East Asian region.
Project Updates:
Ethereum Core Developers Meeting 114: Devnet #8 expected to be launched next week, Electra upgrade to include two EIPs
Ethereum core developers have conducted a shadow fork on the Sepolia test network and are currently updating tools in preparation for the launch of Devnet #8. Devnet #8 is expected to be launched later next week or early the following week. Ethereum Foundation researcher Hsiao-Wei Wang is preparing a new version of the CL code specification for Devnet #8, which will be ready for client teams by Monday, July 31.
The next update will also include two EIP upgrades, EIP 6914 and EIP 6110. EIP 6914 creates a method for reusing validator index numbers of validators that have fully exited the beacon chain. By ensuring that there are no large gaps in the validator index when nodes handle withdrawals and scan the validator set, unnecessary computational burden on CL nodes can be prevented. EIP 6110 changes attach new validator deposits to EL blocks so that the responsibility for including and validating deposits is done on EL instead of CL. The transfer of responsibility brings some benefits, including: reducing the complexity of Ethereum client software design; improving the security of validator deposits; improved validator user experience.
LianGuailm Network to launch Supernets chain based on Polygon next week
NFT infrastructure company LianGuailm Network announced plans to launch a proof-of-stake side chain using the Supernets software stack in the Polygon ecosystem while retaining its existing layer 1 blockchain. The Supernets chain is scheduled to launch next week. The LianGuailm Foundation stated that the expansion plan for Polygon will be carried out in two phases. In the initial stage, LianGuailm Network aims to implement the proof-of-stake side chain before August 1. After that, the plan is to complete the migration to Polygon’s ZK Supernet by 2024.
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