Rhythm Evening News｜A list of important information in the crypto industry on July 17

Fed Williams: The United States may need to cut interest rates in the coming months

BlockBeats news, July 17, Fed Williams said that the Federal Reserve is closer to cutting interest rates, but is not ready to implement it. The United States may need to cut interest rates in the coming months. (Golden Ten)

Bitwise expects the US Ethereum spot ETF to boost ETH to a record high

BlockBeats news, July 17, Bitwise said that it expects the launch of the Ethereum spot ETF in the United States next week to push the price of the second largest cryptocurrency to a record high of more than $5,000.

Bitwise Chief Investment Officer Matt Hougan wrote in a report on Tuesday that the rise might not happen immediately, and prices could begin to be volatile due to outflows from the $11 billion Grayscale Ethereum Trust (after it is converted into an ETF).

Nevertheless, “I am confident of new highs by the end of the year,” Hougan wrote. “If capital inflows are stronger than many market commentators expect, prices may be higher.” (CoinDesk)

Metalpha analyst: Bitcoin rebound shows that the market is more optimistic about the short-term macro environment

BlockBeats news, July 17, Metalpha senior analyst Lucy Hu said, “The rebound in Bitcoin prices shows that the market is more optimistic about the short-term macro environment. The market is encouraged by Trump’s choice of vice presidential candidate, which suggests that there will be a friendlier cryptocurrency policy.”

“Bitcoin may hover around the 120-day moving average, and the price may have the momentum to rise to $68,000 or even $70,000, but we need to continue to pay close attention to the Fed’s policy and Mt. Gox. ”Hu added. (CoinDesk)

Yesterday, the U.S. spot Bitcoin ETF had a net inflow of $422.5 million

BlockBeats news, July 17, according to Farside Investors data, yesterday the US spot Bitcoin ETF net inflow of $422.5 million, including:

IBIT net inflow of $260.2 million;

FBTC net inflow of $61.1 million;

ARK 21Shares' ARKB net inflow of $29.8 million.

LI.FI announced that the agreement has been fully restored and will continue to track and recover funds

BlockBeats news, July 17, cross-chain transaction aggregator LI.FI released an update stating that the agreement has been fully restored and most of its partner agreements on the bridge and exchange business have been restored.

LI.FI will continue to work with law enforcement agencies and industry participants to track and recover funds.

BlockBeats previously reported that LI.FI issued a statement saying that the smart contract vulnerability has been contained and the affected smart contract has been partially disabled.

zkLink announced that the first round of ZKL token claims for Novadrop will be open on July 22

BlockBeats news, on July 17, zkLink, a multi-chain transaction infrastructure based on zero-knowledge proof, officially stated that the first round of ZKL token claims for Novadrop will be open on July 22.

Sanctum announced that the airdrop qualification query portal has been temporarily closed

BlockBeats news, on July 17, the Solana ecosystem liquidity pledge agreement Sanctum officially stated that it is making changes to the LFG website, so the airdrop allocation query is temporarily unavailable, and the notification will be updated after it is back online.

Arthur Hayes Family Office Maelstrom Launches Bitcoin Developer Funding Program

BlockBeats news, on July 17, BitMEX founder Arthur Hayes posted on social media that "Family Office Maelstrom has launched a Bitcoin developer funding program. As loyal followers of Satoshi Nakamoto, we are doing our part to spread the news. Bitcoin developers who want to submit proposals can apply on the Maelstrom website."

BinaryX announced a community vote to destroy 74% of BNX tokens and enter a new deflationary economic model

BlockBeats news, on July 17, Web3 gaming platform BinaryX announced an important community vote: it plans to destroy up to 74% of the total supply of BNX tokens. This move is designed to significantly increase the scarcity and value of each token, thereby significantly enhancing the healthy development of the BNX token economic system. All BNX token holders are entitled to participate in this vote.

The specific voting time will be announced on BinaryX official social media and community channels soon.

GMX community voted to "list PEPE, SHIB and WIF markets on v2" proposal

BlockBeats news, on July 17, according to the Snapshot governance page, the GMX community voted to "list PEPE, SHIB and WIF markets on v2" proposal, the risk committee and administrators will be able to provide synthetic and backed markets for the above assets on GMX v2.

Modular project Saga has opened Vault 3 airdrop applications

BlockBeats news, on July 17, modular blockchain project Saga said on the social platform that Vault 3 airdrop applications are now open.

MakerDAO launches NewGovToken activation function

BlockBeats news, on July 17, MakerDAO founder Rune Christensen said on the social platform that MakerDAO launched the NewGovToken activation function. When the Spark sub-DAO is launched, NewGovToken holders will be able to activate their NewGovToken to obtain SPK rewards. NewGovToken activators will receive 15% of all SPK token rewards.

NewGovToken can be obtained by MKR at a ratio of 1:24,000, and will be launched after Endgame is launched. There is no lock-up period or additional risk for activating NewGovToken, and it can be deactivated instantly at any time.

Other rewards can also be selected in the future, including stablecoin rewards and 15% token rewards for all other launched sub-DAOs. The purpose of NewGovToken activation is to incentivize long-term participation in governance-in the future, delegation can be made while activating NewGovToken.

Binance responds to Bloomberg's apology: Will continue to focus on providing the best service and innovation to users

BlockBeats news, on July 17, Binance responded to Bloomberg Businessweek/Chinese version of the apology statement, saying: "Glad to see that the false accusations have been dropped. We will continue to focus on providing the best service and innovation to users, while working hard to set an example to ensure the healthy and sustainable development of the industry."

BlockBeats previously reported that at 12:00 on July 17, Bloomberg Businessweek/Chinese version issued a statement stating that its 250th issue of the magazine (July 6, 2022) OKX has made a serious mistake in publishing a false and unfounded cover headline that mistakenly wrote "Zhao Changpeng's Ponzi Scheme". The publication unreservedly withdraws and retracts this offensive statement and apologizes to Zhao Changpeng and Binance. For this reason, no identical or similar allegations will be published or made in any way.

OKX will delist CEL, OMG, SPELL, APM, LHINU, POLS, DCR spot trading

BlockBeats news, on July 17, according to the official announcement, OKX announced that it will officially delist CEL/USDT, CEL/USDC, OMG/USDT, SPELL/USDT, SPELL/USDC, APM/USDT, LHINU/USDT, POLS/USDT, DCR/USDT, DCR/ETH spot trading pairs from 4:00 pm to 4:30 pm (UTC+8) on July 23, 2024.

Withdrawals of CEL, OMG, SPELL, APM, LHINU, POLS, and DCR on the OKX platform will be suspended at 4:00 pm (UTC+8) on October 23, 2024.

Revolut is in talks with Tiger Global on a $500 million share sale

BlockBeats reported on July 17 that British digital bank Revolut Ltd. is in talks with Tiger Global Management on a $500 million share sale.

This will be a secondary market sale, meaning no new shares will be issued, but rather employees will be involved in selling existing shares. Revolut has hired Morgan Stanley to assist with the sale, which could value Revolut at more than $40 billion.

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