1. US judge revokes SBF’s bail, SBF will be imprisoned today
2. Foreign media: SBF’s legal team has filed an appeal
3. a16z and LianGuairadigm have submitted amicus briefs in support of Coinbase
4. 0xScope calls on top exchanges to provide clues to find nd4.eth and offer assistance
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5. Celsius plans to shut down its application within 90 days and distribute approximately $2.03 billion in encrypted assets to creditors
6. DeFi yield protocol Affine completes $7 million financing, with participation from Coinbase Ventures, etc.
7. Circle CEO: Will announce roadmap and launch smart contract development platform this autumn
Regulatory News
US judge revokes SBF’s bail, SBF will be imprisoned today
US federal judge Lewis Kaplan decided to revoke SBF’s bail at a hearing in the Southern District of New York, stating that he had attempted to interfere with witnesses at least twice. The US Department of Justice previously accused SBF of leaking the private diary of Caroline Ellison, former CEO of Alameda Research, to the media. SBF faces seven different charges related to the collapse of FTX, including telecommunications, commodities, and securities fraud. Subsequently, Fox Business reporter Eleanor Terrett tweeted that Judge Lewis Kaplan denied the defense’s request to delay detention during the appeal period, and SBF will be imprisoned today.
NFT
NFT generative art project GEN.ART to cease operations
According to official sources, NFT generative art project GEN.ART announced that it will cease operations, with the servers being shut down by the end of August, and the website will retain only a few functions. The remaining funds in the project’s treasury will be distributed to DAO token holders.
Project Updates
Circle CEO: Will announce roadmap and launch smart contract development platform this autumn
Circle CEO Jeremy Allaire tweeted that Circle will announce its roadmap this autumn, aiming to achieve seamless and cross-chain stablecoin payments, and will introduce a smart contract development platform that allows easy access for Web2 developers.
Foreign media: SBF’s legal team has filed an appeal
Less than an hour after SBF was detained, his legal team filed an appeal for release pending trial and paid a $505 application fee. Previously, US federal judge Lewis Kaplan decided to revoke SBF’s bail at a hearing in the Southern District of New York, stating that he had attempted to interfere with witnesses at least twice. Subsequently, Fox Business reporter Eleanor Terrett tweeted that Judge Lewis Kaplan denied the defense’s request to delay detention during the appeal period, and SBF will be imprisoned today.
US Chamber of Digital Commerce: Has submitted an amicus brief in support of Coinbase
The US Chamber of Digital Commerce tweeted that it has submitted an amicus brief in court to support Coinbase in the SEC’s lawsuit against Coinbase. Its goal is to end the SEC’s actions to regulate the digital asset industry without legislative authorization. The association stated that enforcement alone is not enough. While Congress is studying solutions, the SEC’s aggressive approach stifles innovation. Fair regulation can create opportunities for economic growth, job creation, and financial inclusivity. Congress has not authorized the SEC to regulate all digital assets as securities. The SEC’s regulatory actions through enforcement raise concerns about the Constitution and pose risks to the US digital asset industry and its stakeholders.
a16z and LianGuairadigm have submitted a joint amicus brief in support of Coinbase
a16z and LianGuairadigm submitted a joint amicus brief on Friday in support of Coinbase in the lawsuit filed by the U.S. SEC against Coinbase. The two companies stated in the brief that the SEC’s regulatory overreach, combined with the unpredictability and arbitrariness of its actions, threatens the development of blockchain technology in the United States. Cryptocurrencies need a new regulatory framework, but it should be formulated by Congress. The crypto industry has economic significance, and the SEC’s actions “could potentially destroy the industry by impeding the operation of blockchain.” They also warned that the SEC’s attitude towards cryptocurrencies could extend to “a wide range of commonly held assets, including art, classic cars, and vintage wines.”
Celsius plans to shut down its application within 90 days and distribute approximately $2.03 billion in crypto assets to creditors
Bankrupt crypto lending platform Celsius recently released a revised disclosure statement revealing its plan to shut down its application within 90 days. This move is part of the company’s broader efforts to streamline operations, optimize distribution mechanisms, and enhance the overall user experience.
In the statement, Celsius outlined its plan to provide crypto compensation to creditors. Specifically, the company intends to distribute liquid cryptocurrencies, including Bitcoin and Ethereum, to eligible creditors. Due to the potential volatility of BTC and ETH values, the expected distribution amount is approximately $2.03 billion. Meanwhile, the decision to shut down the Celsius application after 90 days is driven by various factors, primarily the cost of maintaining the platform open for withdrawals over an extended period.
To effectively manage the process, Celsius has chosen to work with a third-party distribution agent and has identified LianGuaiyLianGuail as a potential agent for certain distributions to U.S. individual creditors. For other distributions, Celsius is actively seeking additional distribution agents. If suitable agents cannot be found, Celsius will keep its platform open for specific creditors for ninety days after the effective date to facilitate the distribution.
0xScope calls on top exchanges to provide clues to locate nd4.eth and extend help
Web3 knowledge graph protocol 0xScope tweeted that it has noticed a lot of abnormal on-chain activities from nd4.eth recently, which has attracted wide attention and various rumors in the market. Initially, 0xScope thought it might be their own operational errors, but later discovered that nd4.eth might be going through some very difficult times, leading to changes in their worldview and ideas. 0xScope and its partners are concerned about the situation of nd4.eth.
Web3 fundamentally represents equality and mutual assistance. Therefore, 0xScope’s research team has found possible ways to obtain important clues to understand the real individuals behind nd4.eth. However, some clues may require the help of industry-leading institutions, as they may need to start from the recharge addresses and KYC information of nd4.eth. The information includes: first, the recharge addresses of nd4.eth involving two exchanges that require KYC. (Exchanges can forward everyone’s concerns to nd4.eth through internal data.) Second, the recharge addresses of nd4.eth-related addresses (almost either him or someone close to him), as well as the withdrawal records of these addresses.
If institutions can find nd4.eth, 0xScope strongly recommends that, whether it is because Luna has suffered losses, gained deeper philosophical insights, or something else. I hope to tell him that difficult times create strong people. There are always more beautiful things waiting for us in the world.
Previously, it was reported that nd4.eth has been transferring multiple ENS domain names, NFTs, ETH, GMX, GNS, etc. to a black hole address for destruction.
Investment and Financing
DeFi yield protocol Affine completes $7 million financing with participation from Coinbase Ventures
DeFi yield protocol Affine announced on Twitter that it has completed a $7 million financing round with participation from Coinbase Ventures, Circle Ventures, Jump Crypto, Hack VC, and others. In addition, whitelist allocation will be opened soon.
Previously, it was reported that DeFi yield protocol Affine completed a $5.1 million seed round financing with lead investment from Jump Crypto and Hack VC, and other investors in this round include SLianGuairtan Group, Coinbase Ventures, Circle Ventures, and AlphaLab Capital. The new funds will be used to expand investment strategies and expand to new chains.
Important Data
Data: Voyager is consolidating all remaining tokens to the main address or has initiated fiat compensation
According to on-chain analyst Yu Jin, Voyager transferred 1,500 ETH (approximately $2.77 million) and 250 billion SHIB (approximately $2.7 million) to Coinbase about an hour ago. In addition, Voyager is consolidating all remaining tokens in its wallet addresses to the main address. The cryptocurrency claims for Voyager users have ended, and the final process of fiat compensation should now be underway, with the remaining cryptocurrencies being sold and users being compensated in USD. Previously, Voyager users could either withdraw 35.72% of their tokens between June 20 and July 5, or choose to receive USD compensation after 30 days when Voyager sells the tokens. According to Arkham’s data, the Voyager address currently holds approximately $81.63 million worth of cryptocurrency. These tokens are expected to be sold in the near future.
Data: Whale buys $250,000 worth of LBR in the past three days
Spot on Chain monitoring shows that the address starting with 0x316 purchased 99,070 LBR tokens (approximately $150,000) at an average price of $1.514, a 4% increase in price. In the past three days, this address has bought a total of 177,200 LBR tokens worth $250,000. After each purchase, the price of LBR soars. Currently, the address still holds all of the LBR tokens, which are now worth $267,000.
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