Compilation: Lu'an Peng ChainCatcher
Important Information:
- Pionex: Losses in the cryptocurrency field due to hacker incidents in the first half of 2024 amounted to approximately $1.56 billion
- Paraguay raises electricity prices for cryptocurrency mining operations by 14%
- Polymarket: Vice President Harris' probability of becoming the 2024 Democratic Party candidate soars to 35%
- Matrixport: Due to multiple potential stimulating factors, the cryptocurrency market may experience an explosive rebound
- Manta Co-founder: Hopes Polkadot will clarify whether it discriminates against Asian, especially Chinese, developers
- Prominent journalist: Obama privately lobbying to replace Biden, saying Biden cannot defeat Trump
- US court orders cryptocurrency hedge fund Jafia and its principal to pay $84 million in CFTC lawsuit
- ZachXBT: On-chain wallet attack incident of Bittensor originated from stolen private keys
"What important events have occurred in the past 24 hours"
According to PeckShield data, there were over 200 major hacker incidents in the cryptocurrency field in the first half of 2024, resulting in losses of approximately $1.56 billion, with $319 million recovered. This represents a 293% increase in losses compared to the same period in 2023, when losses were $480 million. DeFi protocols remain the primary target, accounting for 59% of the total stolen value.
In the first half of 2024, over 20 public chains experienced major hacker attacks, with Ethereum, Bitcoin, and XRP ranking as the top three cryptocurrencies in terms of losses. Ethereum and BNB chains tied for first place in the number of attacks, each accounting for 31.3% of the total, followed by Arbitrum at 12.5%.
Paraguay raises electricity prices for cryptocurrency mining operations by 14%
According to Bitcoin.com, the National Electricity Administration (ANDE) of Paraguay announced a 14% increase in electricity prices for Bitcoin and cryptocurrency mining operations, affecting the feasibility of maintaining these activities in the country. Due to the lack of clarity in this field, this price hike has already led to the withdrawal of a company planning to invest over $400 million in the country.
Data from the decentralized prediction market platform Polymarket shows that, in the prediction for the "2024 Democratic Party candidate," apart from Biden (50%), the current Vice President Harris (Kamala Harris) has a 35% chance of winning, Michelle Obama has a 7% chance, and Newsom has a 5% chance. The contract expires on August 21, 2024.
Matrixport stated on X platform, "As the total market value dropped from $2.7 trillion to $2.3 trillion, the daily cryptocurrency trading volume also decreased from $180 billion to $500 billion. There is a saying in traditional finance, 'Do not short a sluggish market,' because a little momentum can drive up prices. This may also apply to the cryptocurrency market, as during the summer lull, due to multiple potential stimulating factors (such as Fed rate cuts, US presidential elections, etc.), the market may experience an explosive rebound."
Victor Ji, co-founder of Manta Network, posted on X platform, expressing hope that core members of the Polkadot team can publicly state whether there is unfair treatment or discrimination against Asian developers, especially Chinese developers. He pointed out that several projects in the Polkadot China community, such as Bifrost, Phala Network, DIN (formerly Web3Go), and MXC Foundation, have also expressed dissatisfaction with discrimination and false democracy in Polkadot.
In addition, Kaito AI data shows that despite Bifrost's on-chain activity being significantly higher than KILT Protocol, the official X account mentions Kilt far more frequently than Bifrost.
Victor Ji emphasized that Manta Network has also encountered unfair treatment when applying for funding incentives. He called on the Polkadot team to publicly respond to and address these issues in order to eliminate toxic voices and discriminatory environments in the Web3 field.
Earlier news reported Manta Network co-founder Victorji.eth publicly criticizing the Polkadot ecosystem on Twitter, describing it as a "highly toxic" ecosystem that lacks true value for Web3 and does not focus on users or adoption rates.
Prominent journalist: Obama privately lobbying to replace Biden, saying Biden cannot defeat Trump
According to Jinshi's report, prominent American conservative political news journalist, writer, and current affairs commentator Tucker Carlson stated that despite publicly supporting Biden, Obama is privately lobbying to replace Biden, telling insiders that Biden cannot defeat Trump. Carlson described this as a situation described by "an exceptionally reliable source."
Biden completely embarrassed himself in last Friday's debate, causing panic among senior Democrats and prompting The New York Times to insist that he should withdraw from the race. Despite strong opposition, Obama still supports Biden on social media, claiming that "bad debate nights happen" and people should continue to support him.
Carlson stated on social media, "From an exceptionally reliable source, it is known that Obama's tweet supporting Biden is not sincere. Privately, Obama is telling people that Biden cannot win, so he supports an open nomination convention." He added, "Obama has not revealed whom he supports, at least as of yesterday afternoon, he has not personally met with Biden to convey this information."
US Court Orders Cryptocurrency Hedge Fund Jafia and Principal to Pay $84 Million in CFTC Lawsuit
According to Bloomberg Law News, a federal court in Illinois, USA, has ordered the cryptocurrency hedge fund Jafia LLC and its principal, Sam Ikkurty, to pay $84 million to settle fraud charges brought by the US Commodity Futures Trading Commission (CFTC).
Judge Mary Rowland stated that Sam Ikkurty made various false statements about the cryptocurrency hedge fund operated by his company, Jafia, including statements about his experience in cryptocurrency trading. Sam Ikkurty also used funds from other investors to pay inflated repurchase amounts to fund investors, constituting a "typical Ponzi scheme."
ZachXBT: Bittensor On-Chain Wallet Attack Incident Originated from Stolen Private Keys
Regarding the Bittensor on-chain wallet attack incident, on-chain investigator ZachXBT discovered that 32,000 TAO tokens (worth $8 million) were stolen from the address starting with 5FbWTr.
ZachXBT stated that the attack incident experienced by Bittensor originated from stolen private keys.
The ETF Store President: Ethereum Spot ETF May Launch in the Week of July 15
Nate Geraci, President of The ETF Store, posted on social media that BBG insists that the Ethereum spot ETF will be issued in mid-July. The revised S-1 is due to expire on July 8, and the final version of the S-1 may be submitted by July 12. Theoretically, this means that the related ETF will be launched in the week of July 15.
Over Half of the Top 25 US Hedge Funds Have Exposure to Bitcoin ETFs
According to a report by investment firm River, as of the end of the first quarter of 2024, 13 of the largest 25 US hedge funds have exposure to Bitcoin ETFs.
Among them, Millennium Management holds 27,263 bitcoins, worth $1.69 billion, accounting for approximately 2.5% of its total assets under management (valued at $67.7 billion). Other hedge funds with significant Bitcoin holdings include Schonfeld Strategic Advisors (holding 6,734 bitcoins) and Point72 Asset Management (holding 1,089 bitcoins).
On the other hand, some top hedge funds, such as Bridgewater Associates, AQR Capital Management, and Balyasny Asset Management, have not invested in Bitcoin ETFs.
"What are some great articles worth reading in the past 24 hours"
As a leader in the cryptocurrency industry, Vitalik Buterin has always been active at the forefront of the industry. In addition to being known to the public as the founder of Ethereum, Vitalik has also invested in several new cryptocurrency projects in his personal capacity. On June 28, the layer2 project MegaETH, which aims to build a high-performance real-time EVM, announced a $20 million financing, with Vitalik appearing on the list as an investor. PANews takes stock of the cryptocurrency projects that Vitalik has invested in to see how his track record as an investor has fared.
Publicly available information shows that Vitalik has currently invested in 7 cryptocurrency projects. Among them, there are well-known projects such as StarkNet and Polymarket, as well as those with poor operations, such as Nocturne, which announced the cessation of operations in June this year.
Altcoins Continue to Decline, It's Time to Refocus on DeFi
This article represents the author's interim thoughts at the time of publication, which may change in the future, and the views are highly subjective, and may contain factual, data, and logical errors. Criticism and further discussion from industry peers and readers are welcome.
Where Did the $40 Million Promotion Budget for Polkadot Go?
On June 29, a member of the Polkadot community released the operational report of the Polkadot treasury for the first half of 2024, showing that the Polkadot treasury has spent a total of $87 million. At the current spending rate, these reserves will only be enough to support the Polkadot treasury for another 2 years.
Surprisingly, Polkadot spent $37 million on promotional expenses, accounting for the majority of the treasury's expenditure. This includes $21 million in advertising expenses, including $10 million in sponsorship fees, $4.9 million for marketing and public relations companies, and $4 million for digital advertising. Event expenses amounted to $7.9 million, including $4.5 million in event expenses, $3.9 million in business development, and $3.2 million in media production.
At a recent release event for the "2024 Shanghai Web3.0 Innovation Ecosystem Construction Research Report" (hereinafter referred to as the "Report"), representatives from government agencies, universities, and related industries unanimously agreed that the development of Web3.0 is crucial for the information technology industry. The "Report," guided by the Shanghai Municipal Science and Technology Commission, was jointly released by the Liberation Daily and the School of Economics at Fudan University, and is Shanghai's first industry report on Web3.0.
The Era of Parallel Execution is Coming, A Look at the MEV Landscape on Monad
This article explores the possibility of building a powerful Miner Extractable Value Auction (MEVA) infrastructure on Monad.
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