Golden Morning Post | Tether issued an additional 250 million USDT on the Ethereum network

Headline

▌Tether issued an additional 250 million USDT on the Ethereum network

News on June 20, according to Whale monitoring, at 23:48:47 Beijing time, Tether issued an additional 250 million USDT on the Ethereum network. Paolo Ardoino, chief technology officer of Tether, said that the Ethereum network has replenished the inventory of 250 million USDT. This is an authorized but unissued transaction, meaning the amount will be used as inventory for the next issuance request and chain swap.

Quotes

As of press time, according to coinmarketcap data:

The latest transaction price of BTC is 26813.42 US dollars, with an intraday increase and decrease of +1**.82**%;

The latest transaction price of ETH is 1735.36 US dollars, with an intraday increase and decrease of +0.87%;

The latest transaction price of BNB is 242.80 US dollars, with an intraday change of -0.53%;

The latest transaction price of FIL is US$3.68, with an intraday increase and decrease of +0**.14%**;

The latest transaction price of DOGE is US$0.06232, with an intraday increase and decrease of +0.24%;

The latest transaction price of LINA is US$0.13419, with an intraday increase and decrease of +3**.77**%;

The latest transaction price of MATIC is US$0.614100, with an intraday change of +2**.097%**.

policy

▌IMF is developing a central bank digital currency platform

Jinse Finance reported that the International Monetary Fund (IMF) is developing a central bank digital currency platform. IMF Managing Director Kristalina Georgieva said the IMF was developing the platform to facilitate easier transactions between countries. A CBDC should not be a fragmented national proposition, for more efficient and fairer transactions we need to connect systems across countries: we need interoperability. It is for this reason that the IMF is developing a global CBDC platform.

▌****Guangzhou issued the first batch of digital RMB housing provident fund loans

Jinse Finance reported that the Guangzhou Housing Provident Fund Management Center used digital renminbi to issue the first batch of loans, marking the official implementation of the application of digital renminbi loan issuance for housing provident funds in Guangzhou, realizing the full coverage of digital renminbi applications in major business scenarios such as housing provident fund deposits, withdrawals, and loans.

▌Former US SEC consultant: Issues of legal principles may end the encryption crackdown led by the SEC chairman

According to news on June 20, JW Verret, a former consultant to the US Securities and Exchange Commission (SEC) and an associate professor of law at George Mason University, said on The Scoop podcast that issues of legal principles may end the encryption crackdown led by SEC Chairman Gary Gensler. JW Verret said the principle involves "how courts look at what executive agencies do in so-called independent agencies and consider whether what they do crosses the line," and some agencies, such as the SEC, get broad mandates from Congress to regulate certain area, yet the details are often vague, leading to a significant expansion of its regulatory scope through rulemaking over the years.

Blockchain Application

▌Osmosis updates the token economics model and reduces the token inflation rate by 50%

Jinse Finance reported that Osmosis, the largest decentralized exchange in the Cosmos ecosystem, announced a major update of its token economics model OSMO2.0, and its inflation rate has dropped significantly. Following a community governance vote, the platform reduced its inflation rate by 50%, marking a transition from its early token distribution phase and a commitment to ensure the long-term sustainability of the native OSMO token. This adjustment allows Osmosis to strike a balance between growth and stability, ensuring a smoother distribution of tokens over time, with an inflation rate of approximately 11% for OSMO after the reduction.

Cryptocurrency

▌****Cathie Wood: Deflation is a major risk in the future, still optimistic about the price of Bitcoin

Jinse Finance reported that in an interview with Bloomberg, ARK Invest CEO Cathie Wood discussed why Ark Innovation (ARKK) increased its stake in Coinbase (COIN) after the US SEC sued. According to the disclosure statement, ARK’s three funds purchased approximately $21.8 million worth of COIN on June 6, 2023. In this regard, Wood said that the enforcement of the US SEC will cause Coinbase to become the only cryptocurrency exchange in the United States. Of course, this assumes that Coinbase will win its legal battle with the US SEC. Wood sees the allegations against the two exchanges as being different. While both companies face U.S. SEC lawsuits for allegedly trading and pledging unregistered securities, Binance may also face more serious charges.

▌Changpeng Zhao: Although Binance failed to obtain a license, the attitude towards cryptocurrencies in the Netherlands is still "pretty progressive"

Jinse Finance reported that according to a tweet published on June 19, Binance CEO Changpeng Zhao believes that although Binance failed to register as a virtual asset service provider (VASP), the Dutch attitude towards cryptocurrencies is still " Pretty progressive." Changpeng Zhao further added that Binance is a large and complex platform that has obtained 50 virtual asset service provider licenses. Binance hopes that the Netherlands should provide better access services for cryptocurrencies, but considering all factors See, attitudes towards cryptocurrencies in the Netherlands are still "pretty progressive".

▌Cream Finance attacker transferred 230 ETH

Jinse Finance reported that CertiK monitoring showed that Cream Finance attackers had sent 230 ETH (worth nearly $397,000) to (the address starting with 0xdeCE02a). The address still holds 3,000 ETH (worth nearly $530,000) and other assets greater than $6 million.

▌BTC breaks through $27,000

Jinse Finance reported that the market showed that BTC broke through $27,000 and is now reported at $27,016.7, an intraday increase of 1.57%. The market fluctuates greatly, so please do a good job in risk control.

▌SPACE ID: It is proposed to use half of the income in the past three months to purchase burning ID tokens

On June 20th, the decentralized identity protocol SPACE ID tweeted that the snapshot voting for DAO IDP3 has started. IDP3 proposes that 50% of the total revenue generated by the SPACE ID platform from March 23rd to June 23rd be used to purchase and burn ID tokens; the remaining 50% is allocated to the DAO treasury, and all eligible ID tokens Holder management. Voting ends at 9:20 p.m. on June 26, and 99.4% of the votes are in favor.

Important economic developments

▌EU legislation on digital euro is on hold

Jinse Finance reported that the EU legislation that was supposed to be published on June 28 to support a digital euro has been put on hold. The move comes after leaked draft bills covering privacy and technical issues for a central bank digital currency (CBDC), and a statement from the finance minister last week that appeared to question the scheme’s motives. The timeline for the draft bill, which was originally scheduled to be published before the ECB makes a firm decision on whether to issue currency in digital form, has changed several times. It is at a stage planned for May. According to a tentative forward agenda published last week, the bill is currently scheduled to be discussed and published at the June 28 meeting of the European Commission's decision-making body. The committee did not provide a reason for the delay, nor did it give a new release date.

Golden Encyclopedia

▌What is RWA

The full name of RWA is the value tokenization of real world assets (real world assets-tokenization), which is the process of converting the ownership value (and any related rights) in tangible or intangible assets into digital tokens. This enables the digital ownership, transfer and storage of assets without a central intermediary, and the value is mapped to the blockchain and traded. RWA can be tangible or intangible assets.