[Link to FM] Celsius is notifying regulators to file for bankruptcy, StarkWare plans to launch StarkNet tokens in September this year
Nasdaq Crypto Index Falls to 1070.94, Hit All-Time Low
According to news on July 13, the NASDAQ Crypto Index plummeted after the U.S. stock market opened. According to the latest data, it has fallen to 1070.94 points, a record low. The Nasdaq Encryption Index hit an all-time high of 3994.60 on November 12, 2021, which means it has fallen nearly 75% in the past eight months.
Swaps market pricing in 1 in 2 chance of 100 basis point Fed rate hike in July
On July 14, the Fed's swap market indicated that the probability of raising interest rates by 100 basis points in July was 1 in 2.
【 Regulatory News 】
UK Court Approves Litigation Documents Available via NFT for the First Time
According to court documents made public this week, a British judge for the first time approved the service of legal documents on a blockchain ledger via NFT, and it is now possible to use the blockchain to sue someone. The decision stems from a lawsuit filed by Fabrizio Daloia against five cryptocurrency exchanges. Earlier, Daloia claimed that "someone stole two of his wallets, stored cryptocurrencies in them, and cashed them out on the exchange." Therefore, the court approved the NFT of the documents related to the lawsuit. The court also ruled that crypto exchanges are responsible for ensuring that stolen cryptocurrencies are not removed or taken out of their systems.
European Central Bank: Some key principles of the digital euro have been clarified, including privacy protection, etc.
According to the news on July 13, Christine Lagarde, President of the European Central Bank, and Fabio Panetta, a member of the Executive Committee, jointly wrote "The Main Goals of the Digital Euro" and stated that the investigation phase of the digital euro project is expected to be completed in the autumn of 2023, and it is still too early to decide on the details of the design. It's early days, but some key principles are clear. First, a digital euro must respond to the needs of its users. Second, a digital euro should also benefit those who have hitherto been unable to use digital payments, thereby supporting financial inclusion. Third, privacy protection must meet the highest standards. There are also some pitfalls to be aware of. The digital euro is intended to be a means of payment, not a form of investment.
Polygon joins Disney's 'accelerator program' to develop AR, NFT and AI experiences
Polygon is continuing to expand its Web3 infrastructure with a new project with The Walt Disney Company. According to a Disney statement, Polygon is one of six companies selected to participate in Disney's 2022 Accelerator Program, a business and development program designed to inspire the growth of innovative companies around the world. The initiative, which kicked off this week, hopes to develop new technologies in the fields of augmented reality (AR), non-fungible tokens (NFT) and artificial intelligence (AI).
OKX Granted Temporary Virtual Asset License by Dubai Virtual Asset Regulatory Authority (VARA)
According to OKX, the Dubai Virtual Assets Regulatory Authority (VARA) has granted it a temporary virtual asset license, allowing the trading platform to offer certain exchange products and services to pre-qualified investors and financial service providers in the region. Lennix Lai, general manager of OKX Dubai, said that the leadership in Dubai and the UAE has embraced blockchain technology and continues to invest heavily in the crypto ecosystem. Audiences are served.
Equity management startup Pulley closes $40 million Series B round, with participation from General Catalyst
According to businessinsider, equity management startup Pulley announced the completion of a $40 million Series B round of financing, led by Keith Rabois, general partner of Founders Fund, with participation from Stripe, former Twitter vice president Elad Gil, and General Catalyst. Pulley's modern approach to equity management for high-growth startups enables businesses to simulate the impact of different fundraising scenarios on their ownership, helping employees understand the value of their equity as the company grows, and a specific focus for its future business Will be Web3 and crypto startups.
StarkWare plans to launch StarkNet tokens this September and distribute them over the next year and a half
According to news on July 13, StarkWare, a zero-knowledge proof technology development company, plans to launch StarkNet tokens on the chain in September this year. play a role in. To achieve this goal, StarkWare plans to distribute tokens to the company's investors, employees, and advisors, as well as community developers, contributors, and end users over the next year and a half, in order to align long-term incentives for core contributors and investors with StarkNet The interests of the community are aligned, and all tokens allocated to core contributors and investors will be subject to a 4-year lock-up period, linear release, and a one-year cliff (the time period before tokens are unlocked).
Celsius Pays Off Remaining Compound Debt, Releases Nearly $200M in wBTC
According to data from Etherscan, Celsius Network fully repaid the remaining debt of its lending protocol Compound, releasing nearly $200 million in pledged tokens wBTC. Wallets associated with Celsius transferred 50 million DAI (MakerDAO’s USD-pegged stablecoin) to Compound in two transactions, which subsequently released 6,900wBTC and 3,100wBTC to Celsius, respectively.
US President Biden: CPI data is outdated
U.S. President Joe Biden said U.S. inflation data for June was "unacceptably high," but the CPI data was outdated given the recent drop in gasoline prices.
Opinion: Gas fees will not decrease after Ethereum "merges", but Staking revenue will increase significantly
According to DeFi trader Vivek Raman's social media analysis, unlike many people's expectations, the gas fee will not be reduced after the "merger" of Ethereum. Vivek Raman explained that Ethereum gas fees are too high because of increased block demand, not because of the "consensus mechanism", and the goal of the "merge" is to abandon the Ethereum workload proof consensus mechanism, so users want to reduce gas fees Layer 2 can be used to reduce costs. In addition, Vivek Raman predicts that after the "merger", ETH Staking revenue will increase by at least 50%, while the current Staking revenue is about 4.2%, and validators can also obtain transaction fee income. The latest data shows that the current total pledge amount of the Ethereum beacon chain has reached 13,682,717 ETH, and the total number of verifiers is about 406,000.
【What to watch today】
Sources: Celsius is notifying regulators of bankruptcy filing
On July 14, sources said Celsius lawyers notified US state regulators that Celsius planned to file bankruptcy filings. Joseph Rotunda, executive director of the Texas Securities Commission, said Celsius' filing for bankruptcy was expected but would continue to investigate the company and work to protect its customers. At present, six states in the United States, including Texas and Vermont, have announced investigations into Celsius.
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