Author: TechFlow
Market Dynamics Yesterday
US SEC Releases Latest Guidance: Specific Liquidity Staking Not Under Securities Law Jurisdiction
According to The Block, the US Securities and Exchange Commission (SEC) clearly stated in its latest guidance that specific liquidity staking activities are not within the scope of securities law, and relevant participants do not need to register with the SEC.
The guidance indicates that unless the staked crypto assets themselves are or are subject to an investment contract, the issuance and sale of staking receipt tokens do not constitute securities as defined in the Securities Act and Exchange Act. This regulation may affect liquidity staking service providers such as Lido, Marinade Finance, JitoSOL, and Stakewise.
SEC Chairman Paul Atkins stated that this is an important step in clarifying the regulatory boundaries of crypto assets and one of the first achievements of the agency's "Project Crypto" plan. Industry insiders believe that this guidance may help advance the approval process for spot Ethereum ETF, especially in terms of staking functionality.
Trump Says Vance Most Likely to Be His Successor
According to Jinshi Data, US President Trump said on Tuesday that current Vice President Vance is "most likely" to be the heir to his "Make America Great Again" (MAGA) movement. Secretary of State Rubio earlier told Fox News that Vance would be an excellent nominee if he decides to run, to which Trump responded: "I think he (Vance) is most likely." He added: "We also have very outstanding talents, some of whom are sitting on this stage today. So it's too early to talk about this now, but what is certain is that Vance is doing very well now, and he may be the most favored candidate at the moment." Earlier that day, Trump told CNBC that he "might not" seek a third presidential term.
Robinhood Crypto Launches ONDO and FLOKI for US Users
Robinhood Crypto announced early this morning the launch of ONDO and FLOKI for US users to further expand platform assets.
Social Communication Protocol Towns Protocol Announces Open Airdrop Eligibility Check
According to the official announcement, the social communication protocol Towns Protocol has launched an airdrop eligibility check tool.
Magic Eden Announces Second Quarter Rewards to Be Distributed on August 6
According to the official announcement, Magic Eden will distribute second-quarter rewards on August 6.
Metamask Plans to Collaborate with Stripe to Issue Stablecoin Metamask USD
According to governance proposals, MetaMask is planning to launch a stablecoin called MetaMask USD (mmUSD) in collaboration with Stripe, which will be issued by Stripe but utilize the M^0 network for issuance and settlement.
mmUSD aims to become the cornerstone asset of the MetaMask ecosystem, with native integration into MetaMask wallet, trading, buying and selling, and yield functions. The stablecoin is positioned to provide a neutral and highly liquid base currency to enhance stablecoin liquidity and optimize decentralized finance user experience. Currently, neither MetaMask nor Stripe has provided official confirmation.
Ethereum New Proposal EIP-0000 Proposes Unified Multi-Dimensional Fee Market Mechanism
Ethereum core developers Anders Elowsson and Vitalik Buterin jointly proposed a new proposal, EIP-0000, aimed at implementing a unified multi-dimensional fee market mechanism. The proposal suggests allowing users to set a single maximum fee limit (max_fee) for multiple resource types to improve capital efficiency.
This mechanism will make max_fee interchangeable across different resource types, potentially simplifying the management process of current independent fee markets for blobs, call data, and gas. The proposal also provides an extensible basis for integrating more resource types in the future.
After Stopping Landfill Mining for 8,000 BTC, British Man Seeks to Tokenize BTC Legal Ownership
According to The Block, British IT engineer James Howells stated that he has stopped seeking to mine the hard drive containing 8,000 bitcoins in the Newport landfill but clarified that he has not given up on claiming these bitcoins.
Howells plans to tokenize the legal ownership of his 8,000 bitcoins confirmed by the court, launching a Bitcoin Layer 2 network smart token called Ceiniog Coin (INI).
CEA Industries Completes $500 Million Private Placement, Led by YZi Labs
CEA Industries (NASDAQ: VAPE) announced today the completion of a $500 million private placement and will be renamed "BNB Network Company", with the stock code to be changed to "BNC" on August 6. The company plans to use the funds to purchase BNB as its primary reserve asset.
The private placement was led by YZi Labs, attracting over 140 institutions including Pantera Capital and Blockchain.com. The company has also appointed David Namdar, former co-founder of Galaxy Digital, as CEO, and Russell Read, former investment director of CalPERS, as investment director.
Listed Company MEI Pharma Announces Acquisition of 929,548 LTC at Average Purchase Price of $107.58
According to BusinessWire, US pharmaceutical company MEI Pharma (NASDAQ: MEIP) announced the acquisition of 929,548 Litecoin (LTC) at an average purchase price of $107.58, with a total value of approximately $110 million. The company becomes the first US-listed company to adopt Litecoin as its primary reserve asset.
Previously, MEI Pharma completed a $100 million private placement and incorporated Litecoin into its financial reserves.
SharpLink Increases Ethereum Holdings by 83,561, Exceeding 520,000
According to the official announcement, SharpLink (stock code: SBET) currently holds 521,939 Ethereum. Between July 28 and August 3, the company increased its holdings by 83,561 Ethereum at an average price of $3,634, with a total investment of $264.5 million. The company's Ethereum concentration indicator rose from 3.40 last week to 3.66, with a cumulative growth of 83% since implementing the strategy on June 2.
Currently, SharpLink has staked all its Ethereum, accumulating 929 Ethereum in staking rewards.
Market Dynamics
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