Rhythm Morning News|A list of important news from last night and this morning on June 21

24-06-21 09:51
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Arthur Hayes: Japanese banks' selling of U.S. bonds triggers speculation about dollar liquidity, and cryptocurrencies are expected to usher in a new round of bull market

BlockBeats news, on June 21, BitMEX co-founder Arthur Hayes published an analysis in his personal blog that Japan's fifth largest bank, Norinchukin Bank, recently announced that it would sell $63 billion worth of U.S. and European bonds. This indicates that other Japanese banks may follow suit and sell up to $450 billion in U.S. bonds in total.


Hayes pointed out that the reason why Japanese banks sold U.S. bonds in large quantities is that the U.S.-Japan interest rate differential has widened sharply, resulting in a sharp increase in the foreign exchange hedging cost of holding U.S. bonds, and holding these bonds has begun to lose money. In an election year, U.S. Treasury Secretary Yellen is likely to ask the Bank of Japan to absorb these sold bonds through the Fed's FIMA repurchase tool to avoid a sharp rise in U.S. bond yields and trigger financial market turmoil.


Hayes believes that if the Fed prints money on a large scale to buy back the U.S. bonds sold by Japan, it will bring a new round of U.S. dollar liquidity to the cryptocurrency market and boost a new round of cryptocurrency bull market. He said that in order to maintain the current dollar-based financial system, the supply of U.S. dollars must increase, which will undoubtedly push up the prices of crypto assets including Bitcoin.


3iQ: The first Solana ETP application has been filed in North America

BlockBeats news, on June 21, 3iQ officially announced that it had submitted a preliminary prospectus for the initial public offering of the Solana Fund (QSOL) in Canada. "This continues our record of innovation, and if applicable regulatory approvals are obtained, the fund will become the first Solana ETP (traded product) listed in North America."


It is reported that Canadian crypto asset company 3iQ Digital Holdings has previously launched North America's first regulated Bitcoin and Ethereum ETFs and the first Ethereum ETF with pledge functionality on the Toronto Stock Exchange.


Azuki hired former Hollywood executive Steve Chung as chief operating officer

BlockBeats news, June 21, according to The Block, NFT project Azuki announced on Thursday that it has hired veteran entertainment executive Steve Chung as chief operating officer. Chung's goal is to use his expertise in Hollywood and Silicon Valley to expand Azuki's fan base and revenue. The company is seeking to expand its business beyond digital collectibles.


Before joining Azuki, Chung worked at Fox and served as chief global officer of Korean entertainment giant CJ ENM Entertainment.


Gemini co-founders Winklevoss brothers each donated $1 million worth of Bitcoin to Trump's campaign team

BlockBeats news, on June 21, Gemini co-founders Cameron Winklevoss and Tyler Winklevoss published a statement saying that they had each donated $1 million in Bitcoin (15.47 BTC) to Trump's campaign team and would vote for him in the November election.


Cameron Winklevoss said in the article: "Trump supports Bitcoin, supports cryptocurrency, and supports commercial enterprises. He will end the Biden administration's war on cryptocurrency."


Market News: US CFTC is investigating Jump Crypto

BlockBeats news, June 20, according to Fortune, the US Commodity Futures Trading Commission (CFTC) is investigating Jump Crypto. Jump has always been known as one of the top players in the field of high-frequency trading. In September 2021, the company announced the establishment of its encryption department Jump Crypto. It is not clear whether the US Commodity Futures Trading Commission is considering any charges against the company.


Bitwise releases Ethereum advertisement and plans to mint it as NFT

BlockBeats news, on June 20, Bitwise released a funny Ethereum advertisement, which stated: Unlike large financial institutions, Ethereum does not get off work at 4 pm.


Bitwise said on the X platform that the Ethereum commercial will be minted in the form of NFT, which is also the first advertisement minted in the form of NFT on national television in the United States. 50% of the proceeds will be donated to the Protocol Guild, and the remaining 50% will go directly to the actors.


Microstrategy has purchased 11,931 bitcoins in the past two months, with an average price of $65,883

BlockBeats reported on June 20 that Microstrategy purchased 11,931 bitcoins between April 27 and June 19, with an average price of $65,883, worth about $786 million.


As of June 20, 2024, MicroStrategy holds 226,331 BTC, with an average price of $36,798 per Bitcoin, worth approximately $8.33 billion.


LayerZero CEO: There is no mandatory donation, and you can choose not to claim the airdrop if you don't want to donate

BlockBeats news, on June 20, LayerZero CEO Bryan Pellegrino issued a statement saying that there is no mandatory donation, and if you don't want to donate, don't claim it. It's not something you own, it's something someone else provides.


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