Golden Morning Post | ARK Invest may be approved before BlackRock

Headline

▌****ARK Invest revises the application materials of Bitcoin spot ETF, or promotes it to obtain the approval opportunity before BlackRock

Eric Balchunas, a senior ETF analyst at Bloomberg, tweeted that ARK Invest has revised the 19b-4 application materials for its Bitcoin spot ETF, similar to BlackRock's practice. ) and a prominent cryptocurrency exchange (likely Coinbase). Since ARK Invest’s Bitcoin spot ETF is earlier than BlackRock, this modification may put the agency’s application in a leading position in the SEC’s approval.

Quotes

As of press time, according to coinmarketcap data:

The latest transaction price of BTC is 30105.2 US dollars, with an intraday increase and decrease of -1**.01**%;

The latest transaction price of ETH is 1830.81 US dollars, with an intraday change of -1**.56**%;

The latest transaction price of BNB is 230.65 US dollars, with an intraday change of -1.88%;

The latest transaction price of XRP is US$0.4653, with an intraday increase and decrease of -1.99%;

The latest transaction price of DOGE is US$0.0625, with an intraday increase or decrease of -2**.93**%;

The latest transaction price of ADA is US$0.2671, with an intraday increase and decrease of -2.89%;

The latest transaction price of SOL is US$16.006, with an intraday increase or decrease of -1.95%.

policy

▌The Technical Advisory Committee within the US CFTC will discuss DeFi, DAO, etc. in July

An advisory body on technology issues within the U.S. Commodity Futures Trading Commission (CFTC) will discuss decentralized finance (DeFi) and the recent regulator's victory in the Ooki DAO case. The CFTC's Technical Advisory Committee is scheduled to meet at its Washington, D.C. headquarters on July 18. The committee’s sponsor, the CFTC commissioner, said in a statement Wednesday that “decentralized finance (DeFi) models such as decentralized autonomous organizations (DAOs) and the committee’s recent Ooki DAO case will be discussed, along with other DeFi issues.”

The Ooki DAO case set a precedent that other decentralized autonomous organizations could be held liable as “individuals” for violations. The committee also plans to create three subcommittees, including one dedicated to digital assets and blockchain technology.

▌ECB President: plans to make a decision on the creation of a digital euro by the end of October

ECB President Christine Lagarde said on Wednesday that the ECB plans to make a decision on the creation of a digital euro by the end of October.

▌India's RBI lists the risks of stablecoins to developing economies and calls for global coordination of supervision

In its latest financial stability report published on June 28, the Reserve Bank of India (RBI) claimed that stablecoins have a high potential to harm emerging market and developing economies. The report lists six threats posed by stablecoins. The RBI has been a staunch critic of cryptocurrencies, but it was particularly explicit about what it sees as issues with stablecoins “from an EMDE (Emerging Markets and Developing Economies) perspective.”

The RBI took the occasion to reiterate its call for global coordination, saying, "A globally coordinated approach is needed to analyze the risks faced by emerging market and developing economies vis-à-vis advanced economies. Against this backdrop, India's G20 presidency During this period, one of the top priorities is to establish a global regulatory framework for unsecured crypto assets, stablecoins and DeFi.”

Blockchain Application

▌Compound CEO founded Superstate, a bond fund company with blockchain as a recording tool

Compound CEO Robert Leshner has filed with U.S. securities regulators for “Superstate,” a new company that will create short-term government bond funds using the ethereum blockchain as a secondary record-keeping tool. According to a June 26 filing with the U.S. Securities and Exchange Commission, Superstate's funds will invest in ultra-short-term government securities, including U.S. Treasury bills, government agency securities and other government-backed instruments. The fund will rely on traditional Wall Street transfer agents to keep ownership records for fund holders, the document said. Ownership of certain Fund shares will also be recorded as secondary blockchain records on one or more blockchains, initially the Ethereum blockchain.

▌dYdX will launch the dYdX Chain public testnet on July 6

The decentralized exchange dYdX announced that it will launch the dYdX Chain public testnet at 1 am Beijing time on July 6. The functions that will be tested include connecting wallets, viewing order books, placing orders, and viewing account information. At launch, the public testnet will only support Bitcoin and Ethereum markets, but dYdX plans to support more than 30 markets through network upgrades in the future. dYdX Chain is a blockchain based on Cosmos, with a total of 5 milestones, 4 of which have been completed so far. Its goal is to launch the mainnet in September and complete the fifth milestone.

▌Sotheby’s Launches Blockchain-Driven Program for Generative Artists

Centuries-old auction house Sotheby's is launching a new blockchain-based program for generative artists. Dubbed the Gen Art initiative, Sotheby’s will showcase the work of two to three generative artists each year in fully on-chain auctions using generative asset creator Art Blocks Engine.

The auction house will host the project's first sale on July 26, when it will sell 500 works by generative artist Vera Molnár. Molnár, 99, has been experimenting with algorithms and generative work since the 1960s.

▌Opinion: Blockchain technology may help create safer and more efficient AI systems

According to research by banking giant UBS, “AI is already having a huge impact on society, but it also has the potential to cause harm. Blockchain technology may help create safer and more effective AI systems.” Blockchain Three key areas that intersect with artificial intelligence are authentication and identity, data privacy and ownership, and centralization risk.”

Cryptocurrency

▌FTX Creditors Committee: Customers need to submit proof of claim before September 29, 2023

The official committee of FTX Unsecured Creditors tweeted that the bankruptcy court has set September 29, 2023 as the deadline for FTX customers to submit proof of customer claims. To simplify the process, FTX Debtors will launch an online claims website in the coming days.

▌Mastercard pilots tokenized bank deposits on new UK test platform**

Mastercard is building a testbed, dubbed the Multi-Token Network (MTN), which will first explore tokenized bank deposits and launch in test mode in the UK this summer. Raj Dhamodharan, head of cryptocurrency and blockchain at Mastercard, said that some banks and financial institutions are being invited to participate, and that the MTN initiative will in due course move to embrace central bank digital currencies and regulated stablecoins.

▌Prometheum: Has developed a blueprint to bring cryptocurrency trading to the regulated market

Broker Prometheum now claims it has a blueprint to bring cryptocurrency trading to the larger regulated market. Prometheum's plan would involve using an exemption created by U.S. regulators 50 years ago to allow trading in stocks subject to certain restrictions. This exemption can be used on a daily basis in the stock market to sell large quantities of shares. Rule 144 is an exemption that allows the public resale of restricted or controlled securities if a number of conditions are met. This includes how long securities are held, how they can be sold, and for how much they can be sold at any time. It is not yet used in the crypto industry.

Currently, cryptocurrency exchanges typically use state rules to circumvent federal requirements when trading cryptocurrencies that are not considered securities. If the digital asset is a security, it must comply with registration and exemption requirements. Prometheum, a startup without a cryptocurrency trading arm, believes it has a way to provide liquidity in crypto assets to both regulated exchanges and established brokerages.

▌Binance’s market share declined further in June

Binance, the world's largest cryptocurrency exchange by trading volume, continued to lose market share in June as the U.S. Securities and Exchange Commission (SEC) sued the company and its founder Changpeng Zhao. Binance’s spot market share fell to 41.9% in June from 43% a month earlier, according to CCData, the exchange’s fourth consecutive monthly decline and its lowest level since August 2022. However, Binance remains the world's largest cryptocurrency exchange by a wide margin. Seychelles-based OKX ranked second with a 5.44% market share, and U.S. exchange Coinbase (COIN) came in third with a 5.37% market share.

▌Sui Foundation releases the token release schedule, which is expected to be released in April 2030

According to official news, the Sui Foundation released a detailed plan for token release. The Sui mainnet will go live on May 3, 2023. The long-term circulating supply of SUI tokens is 10 billion. At mainnet launch, approximately 5% of the tokens will be in circulation, with the remainder to be released according to the proposed schedule. All tokens are expected to be released in April 2030. The Sui Foundation stated that the timetable may be changed as needed to maintain the health of the Sui network.

According to previous news, the Sui Foundation stated that it has gradually increased the supply of SUI tokens as planned to increase the liquidity of the ecosystem. The Sui Foundation does not sell rewards or any other tokens generated by "locked" and "non-negotiable" pledged SUI on Binance or other platforms, and all internal token distributions remain subject to lockup periods and other transfer restrictions.

Important economic developments

▌The three major U.S. stock indexes closed mixed, with the S&P 500 down 0.03%

The three major U.S. stock indexes closed mixed. The Dow fell 0.21%, the S&P 500 fell 0.03%, and the Nasdaq rose 0.27%.

Golden Encyclopedia

▌****Zero Knowledge Machine Learning ZKML

ZK (Zero-Knowledge, hereinafter referred to as ZK) in blockchain technology is a concept in cryptography, which refers to a proof or interactive process in which the prover can prove the truth of a statement to the verifier without disclosing any specific information about this statement. ML (Machine Learning, Machine Learning, hereinafter referred to as ML) is a branch of AI. Machine learning learns from input data, summarizes it to form a model, and makes predictions and decisions.