One week preview | The Federal Reserve holds an interest rate meeting; Blur, Aptos and BitDAO will unlock a total of 200 million US dollars worth of tokens

Important news notice:

• BNB Chain is expected to start the Luban hard fork upgrade at 05:30 on June 12, Beijing time
• Fed rate meeting to be held on June 13-14
• Binance.US will suspend fiat (USD) withdrawals as early as June 13, 2023, and will transition to a cryptocurrency-only exchange later
• The Financial Services Committee of the U.S. House of Representatives will hold a hearing entitled "The Future of Digital Assets: Providing Clarity to the Digital Asset Ecosystem" at 14:00 local time on June 13 and discuss the status of major legislative proposals for stablecoin regulation new draft
• The Ethereum Foundation opens the fourth batch of applications for the Fellowship project, and the application deadline is June 16, 2023

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June 12

*** Exchange: ***

Binance will support the contract swap of TUSD to BNB Smart Chain on June 12

Binance will support the contract swap of TrueUSD (TUSD) on BNB Smart Chain, the specific arrangements are as follows: Binance will suspend the deposit and withdrawal of TUSD on BNB Smart Chain (BEP20) on June 12; during the contract swap period, spot trading, Subscriptions for margin trading, Binance Pay, VIP borrowing and earning will not be affected; Binance will assist users who hold TUSD in their Binance accounts with any technical issues encountered; after the contract replacement is completed, The opening time of deposit and withdrawal of TUSD (BEP20) will be announced separately. After the contract replacement is completed, the old TUSD (BEP20) token will use TUSDOLD as the code. Users who recharge TUSDOLD through the old TUSD (BEP20) smart contract can exchange these tokens for new TUSD (BEP20) tokens through the Binance Instant Exchange platform.

Binance will perform wallet maintenance on the BNB beacon chain for about 1 hour on June 12

Binance will perform wallet maintenance on the BNB Beacon Chain (BEP2) at 15:00 on June 12, Beijing time, and it is expected to take 1 hour. During the wallet maintenance period, the digital asset/token transaction of BNB Beacon Chain (BEP2) will not be affected. Binance will suspend the deposit and withdrawal of BNB Beacon Chain (BEP2) at 14:55 on June 12.

Project News:

MetaMask Institutional wallet will integrate Fireblocks on June 12

Ethereum developer ConsenSys said its MetaMask Institutional wallet is integrating with Fireblocks, which is scheduled to go live on June 12. It is reported that Fireblocks is a custody provider that provides a suite of cryptocurrency payment tools, and this integration will allow institutional investors and builders using Fireblocks to access the full set of MetaMask Institutional (MMI). Over 1,800 organizations are already using Fireblocks, and their accounts will be able to connect to MMI, where they can transact, borrow or borrow with over 17,000 decentralized applications (dapps) such as Aave, Lido, and GMX invest.

The chain game Illuvium will cooperate with the game retailer GameStop to launch NFT, which will be sold on June 12

The chain game Illuvium will cooperate with the game retailer GameStop to launch the Illuvium x GameStop D1SK NFT, which contains the exclusive limited edition Illuvitar. The total number of NFTs is 20,000, and the sale will start on June 12 for a period of 3 days.

BNB Chain is expected to undergo a "Luban" hard fork upgrade on June 12

BNB Chain is expected to undergo a network upgrade at block height 29,020,050, which is expected to arrive at 05:30 on June 12, Beijing time. The Luban hard fork consists of three different Binance Smart Chain (BSC) Evolution Proposals (BEPs): BEP-126, BEP-174, and BEP-221, which share the goal of making the network faster and more secure for users. Validators and full node operators on mainnet should upgrade their software version to v1.2.4 by June 12, 2023. Binance will suspend the deposit and withdrawal services of the BNB Smart Chain (BEP20) network to provide support.

Governance Vote:

1inch launched a proposal vote for "seeking $2 million in funding to develop a hardware wallet", which will end on June 12

1inch launched a proposal to "seek $2 million in funding to develop a hardware wallet". It is reported that US$2 million is used to complete the product transaction version (PTV) of the 1inch hardware wallet. With this funding, it will be possible to complete product development, set up the manufacturing process, and pass technical and security audits for a successful launch. And provide a cutting-edge solution for the DeFi community to handle their encrypted assets in a safe, convenient and open-source manner, and benefit the 1inch ecosystem. Voting on the proposal will close on June 12.

Token Unlock:

Aptos (APT) will unlock 4,543,477.94 tokens at 08:00 on June 12, worth about $27 million, accounting for 0.454% of the total supply

June 13th

Policy Supervision:

The Federal Reserve’s interest rate meeting will be held from June 13 to 14, and Powell has hinted that it may pause interest rate hikes

Federal Reserve Chairman Jerome Powell signaled a pause in interest rate hikes next month and said tighter credit conditions could mean a lower peak in policy rates, Bloomberg reported. The next interest rate meeting will be held on June 13 and 14. "We've made a lot of progress on policy tightening, and the policy stance is restrictive," Powell said in a speech at the Federal Reserve meeting in Washington on the 19th. "Additionally, we've seen a lot of progress in the lagged effects of tightening and the recent stress on the banking sector." Uncertainty amidst the credit crunch. We are now in a position to look at the data and the changing outlook before making a cautious assessment."

*** Exchange: ***

Binance.US will suspend USD deposits starting June 13 and transition to a crypto-only exchange

Binance.US tweeted: "Our banking partners are preparing to suspend fiat (USD) withdrawal access as early as June 13, 2023. Customers are advised to take appropriate action with their USD. We are taking these proactive steps , as we transitioned to a crypto-only exchange for a period of time. To be clear, we maintain a 1:1 reserve for all client assets. Any downtime to process withdrawals could be a result of increased volume and weekend banking As a result of the closure. Additionally, trading, staking, deposits and withdrawals of cryptocurrencies remain fully operational.”

Project News:

ConsenSys zkEVM network Linea will release Alpha v0.2 on June 13 in preparation for the mainnet launch

ConsenSys zkEVM network Linea said on Twitter that Linea will release Alpha v0.2 on June 13, preparing for the launch of the mainnet through a substantial architectural upgrade, and it is expected that the bridging function will be suspended for 4-6 hours. This release contains several improvements and breaking changes, especially around the messaging layer changing to a push model. It also improves the coverage of the EVM prover and provides batch merging.

June 14th

Policy Supervision:

The U.S. House of Representatives Financial Services Committee will hold a hearing in the early hours of June 14 to provide clarity on encryption regulation

The Financial Services Committee of the U.S. House of Representatives will hold a hearing entitled "The Future of Digital Assets: Providing Clarity to the Digital Asset Ecosystem" at 14:00 local time on June 13 (early morning of June 14th, Beijing time). Circle CEO, founder of Ava Labs will be present. It is understood that the Republican chairman of the Financial Services Committee of the U.S. House of Representatives released a new draft of major legislative proposals for stablecoin regulation, including some positions of Democratic lawmakers, which will be further discussed at the hearing. If the bill is introduced and passed by both houses of Congress, it will establish the first stablecoin regulations in the United States.

SEC requests to freeze Binance US assets related hearings will be held on June 14

The deadline for Binance and Binance US to respond to the U.S. Securities and Exchange Commission (SEC) application for a temporary restraining order of "freezing assets" is June 12, and the hearing time for the restraining order will be June 14 at 02:00 Beijing time. The report about "US Court Approves SEC's Request to Freeze Binance US's Assets" is false information.

*** Exchange: ***

The encryption exchange Bittrex proposes a customer repayment plan, and the related hearing will be held on June 14

A proposal by bankrupt crypto exchange Bittrex to refund customers cash and cryptocurrencies faces opposition from the U.S. government. The company's U.S. arm filed for bankruptcy on May 8 after regulators accused it of operating an illegal stock exchange, and after reaching a settlement with the Treasury Department worth about $30 million, it allowed Iran, Cuba and Crimea to Asia's customers to do business. It is reported that the U.S. branch of Bittrex holds $50 million in customer cash and $250 million in customer cryptocurrency. Lawyers representing the company previously told a Delaware court that the Malta-operating company, which also filed for bankruptcy, had $120 million in customer cash and cryptocurrencies, and sufficient assets in both to honor withdrawals. A hearing on Bittrex’s plans to allow withdrawals will take place on June 14.

Project News:

HashKey PRO’s activity of giving HSK points to pre-registered users will end on June 14

From June 1st to June 14th, 2023, HashKey PRO, a compliance trading platform under HashKey Group, will present 6.1 HSK points to each pre-registered user. Users must register with their real information. The email address used to register for the program should match the user's future HashKey PRO registration email address in order to receive the reward. Users can participate in activities by completing tasks displayed on the [hello HashKey page], including VA knowledge exercises and risk assessment tests, etc.

June 15th

Project News:

Sotheby's will hold the second auction of Three Arrows Capital NFT collectibles on June 15

Sotheby's auction house will hold the second auction of Three Arrows Capital's NFT collection in New York on June 15. This auction will sell 37 works by artists such as Dmitri Cherniak, Tyler Hobbs, and Jeff Davis. The auction will mark the largest live sale of digital artwork ever held. Highlights of this NFT auction include Cherniak's Ringers #879, which was acquired by Three Arrows Capital co-founders in August 2021 for 1,800 ETH, worth approximately $5.8 million at the time.

CoinList will start the Archway (ARCH) token sale on June 15th

CoinList announced that it will start the Archway (ARCH) token sale at 23:00 on June 15, Beijing time, and the registration is now open. Total supply is 30 million ARCH tokens at $0.20 per token, 40-day lockup period followed by an 8-month linear vesting schedule. Registration will close at 20:00 on June 12, Beijing time.

community activity:

The second LensCN hackathon will start on June 15

The second phase of the LensCN hackathon "Ginkgo" jointly organized by the Lens Chinese community, SeeDAO and Tako Protocol will officially start on June 15. Registration for this competition has been opened, and the total prize money is 12,000 US dollars. This hackathon is aimed at all innovative applications native to the Lens ecosystem, regardless of specific tracks, and aims to provide Chinese developers around the world with a better development environment on the Lens protocol.

Bitcoin Startup Lab launched a Mentoring Entrepreneurship Program, and the application will close on June 15

Bitcoin Startup Lab, a part-time entrepreneurial training program and community of founders in the encryption industry, will start its Mentored Entrepreneurship Program at the end of June. The program is now open for applications in June, and the deadline is June 15. The Bitcoin Startup Lab program trains founders by providing them with the necessary tools, skills and knowledge to turn their ideas into Web3 Bitcoin startups.

Governance Vote:

The TON Foundation proposes to introduce a burning mechanism that destroys 50% of transaction fees, and the voting on the entire network is scheduled to be held on June 15

The Open Network (TON) Foundation proposes to introduce a burn mechanism to burn 50% of all transaction fees on the TON network. If a burn mechanism is implemented, some of these tokens will be burned when users transact on the network, and the rest will go to validators as usual. Validators will also continue to receive staking rewards for helping run the network. The proposal needs to be approved by a majority of TON validators to go live, it has been passed to validators and is being discussed. A network-wide vote to activate this feature is scheduled for June 15th.

ApeCoin Special Committee Candidate Voting will start on June 15th

ApeCoin DAO is in the process of the second special committee election, and the application submission deadline is 9:00 on May 21, Beijing time. Candidate voting will start June 15-21. It is reported that Yat Siu, chairman of Animoca Brands, was appointed as one of the five original members of the special committee of the first special committee of ApeCoin DAO in March 2022. He had previously announced his abandonment of the election.

Token Unlock:

Blur (BLUR) will unlock 195,999,999.97 tokens at 02:00 on June 15th, worth about $64.74 million, accounting for 6.533% of the total supply

1inch (1INCH) will unlock 15,000 tokens at 4:00 on June 15th, worth about $4082, accounting for 0.454% of the total supply

BitDAO (BIT) will unlock 187,500,000.32 tokens at 08:00 on June 15, worth about $80 million, accounting for 1.951% of the total supply

June 16th

Project News:

Montenegro court extends Do Kwon's detention, next hearing scheduled for June 16

A Montenegro court extended former Terraform Labs CEO Do Kwon's detention in Montenegro, reversing a ruling allowing Do Kwon to be released on bail. "The court will conduct a retrial based on the grounds for termination proposed by the High Court, and then make a decision on the defendant's acceptance of bail based on the recommendation of the defense lawyer," the court said. Do Kwon and former Terra executive Han Chang-joon will appear in court on June 16. next hearing.

Bankruptcy judge extends mediation period between Genesis and creditors to June 16

U.S. Bankruptcy Court Judge Sean Lane extended the mediation period between crypto lender Genesis and its creditors during a bankruptcy hearing on Monday. The mediation period, which was due to end last month, is due to end on June 16. Lane on May 1 appointed a mediator to guide negotiations between Genesis and its creditors after talks between the two parties broke down earlier this year. During the hearing, the judge also rejected Genesis’ request to start settlement negotiations with FTX, which claimed that Genesis owed it $3.9 billion, while Genesis claimed that it had no liabilities to FTX.

community activity:

Ethereum Foundation opens the fourth batch of applications for the Fellowship project, and the application deadline is June 16

The Ethereum Foundation announced the opening of the fourth batch of applications for the Fellowship project, and the application deadline is June 16, 2023. The program provides four-month fellowships for fellows to advance Ethereum technology, from developing client implementations, testing and specifications, to participating in the latest core protocol research. The fourth batch of EPF (Ethereum Protocol Fellowship) will run from July 2023 to November 2023, culminating in a live event at Devconnect in Istanbul. Fellowship is a completely permissionless program designed to allow developers to participate in the protocol development process.

Token Unlock:

LooksRare (LOOKS) will unlock 37,500,000 tokens at 01:24:50 on June 16th, worth approximately $2.15 million, accounting for 3.75% of the total supply

Flow (FLOW) will unlock 7,291,666.66 tokens at 08:00 on June 16, worth about $3.71 million, accounting for 0.507% of the total supply

June 17th

Project News:

Optimism Launches "Bedrock" Commemorative NFT, Minting Ends June 17th

Optimism, the second-layer solution of Ethereum, announced that to commemorate the upgrade of Bedrock, it will open the public casting of "Bedrock" commemorative NFT, and it will end at 14:59 on June 17th, Beijing time. According to the minting page, the NFT is minted for free and each address can only mint one. Currently, 13,655 addresses have claimed the NFT.

Token Unlock:

ApeCoin (APE) will unlock 15,601,326 tokens at 08:00 on June 17, worth about $36.19 million, accounting for 1.56% of the total supply

ImmutableX (IMX) will unlock 18,075,990.72 tokens at 18:00 on June 17, worth about $10.94 million, accounting for 0.904% of the total supply