Golden Morning Post | The market value of stablecoins fell to the lowest level since August 2021

Headline

▌****The market value of stablecoins fell to the lowest level since ****2021******8month

Jinse Finance reported that according to a CCData report, the market value of stablecoins fell to US$127 billion, falling for 16 consecutive months, and has hit the lowest level since August 2021.

▌**Tesla has deleted ****“bitcoin”related source code from the payment page

According to news on July 21, Tesla has deleted the source code related to “bitcoin” in the car purchase payment page, and the js code file was last modified on the early morning of July 21, Beijing time. Yesterday, some users discovered that the word “bitcoin” appeared in the source code of Tesla’s car purchase payment page. The final update time of the code source file was July 13, but it did not mean that the “bitcoin” related code was added when it was updated on July 13, and it was impossible to prove whether Tesla had deleted the relevant code after canceling support for Bitcoin payment in May 21.

Quotes

As of press time, according to coinmarketcap data:

The latest transaction price of BTC is 29901.3 US dollars, with an intraday increase and decrease of +0.34%;

The latest transaction price of ETH is 1890.63 US dollars, with an intraday change of -0.03%;

The latest transaction price of BNB is 243.5 US dollars, with an intraday increase or decrease of +0.25%;

The latest transaction price of XRP is 0.77329 US dollars, with an intraday change of -2.61%;

The latest transaction price of DOGE is US$0.073327, with an intraday increase and decrease of +3.90%;

The latest transaction price of ADA is US$0.3132, with an intraday change of -0.83%;

The latest transaction price of SOL is 25.614 US dollars, with an intraday increase or decrease of +0.96%.

policy

▌U.S. Department of Justice Reorganizes National Cryptocurrency Enforcement Team

On July 21, Nicole M. Argentieri, Chief Deputy Assistant Attorney General of the U.S. Department of Justice, delivered a speech at the Center for Strategic and International Studies, saying that starting this week, the National Cryptocurrency Enforcement Team (NCET) will be merged into the Computer Crime and Intellectual Property Section (CCIPS). The merger will more than double the number of criminal department lawyers who can handle cryptocurrency criminal cases and give cryptocurrency work within the criminal department equal status to computer crime and intellectual property work. At the same time, NCET will enhance the ability of the entire department to trace cryptocurrencies, prosecute cases involving the criminal use of cryptocurrencies, and seize legally confiscated cryptocurrencies in order to return these funds to victims. In addition, Eun Young Choi, the first director of NCET, left, and Claudia Quiroz will serve as the acting director of NCET.

▌Indonesian National Cryptocurrency Exchange Has Started Operation

Jinse Finance reported that according to a statement from Indonesia’s Commodity Futures Trading Regulatory Agency (CFTRA), the national cryptocurrency exchange announced by the Indonesian government a week ago has begun operations. The platform will be the only one in the country that allows the legal exchange of digital assets. CFTRA confirmed that the exchange opened on July 20. In addition, CFTRA’s decree establishes a futures clearing house in conjunction with exchanges. Clearing houses are essentially mediators between buyers and sellers, ensuring that transactions go through smoothly. It was previously reported that CFTRA will limit cryptocurrency sales to local transactions while keeping it in line with international market developments. Licensed traders will have one month to join the exchange.

▌Korean Financial Services Commission is formulating a stablecoin regulatory system and starting to review the establishment of a virtual asset disclosure system

According to news on July 21, the South Korean Financial Services Commission started the second phase of legislative work, is developing a stable currency regulatory system, and has begun to review the establishment of a virtual asset disclosure system. The reviewed plan must be reported to the Standing Committee of the Political Affairs Committee of the National Assembly before the implementation of the Virtual Asset User Protection Act in July 2024. The second phase of legislative work will be formulated based on the opinions of the Financial Services Commission, which will include regulations related to the issuance of virtual assets and the regulatory regime for the types of virtual assets. Through this research service, the Financial Services Commission examines ways to address conflicts of interest that arise from the issuance and distribution of virtual assets by virtual asset operators. In addition, it plans to establish a regulatory system based on virtual asset types, such as stablecoins with fixed prices, as well as security tokens and utility tokens. At the same time, it will formulate regulatory systems for virtual asset evaluation business, consulting business, and public disclosure business, and review plans to establish a system that can provide comprehensive market prices and comprehensive information disclosure based on relevant systems.

Blockchain Application

▌The performance of the domestic blockchain platform has broken through for the first time20** million****CTPS**

Jinse Finance reported that the performance indicators of domestic blockchain manufacturers exceeded 200,000 CTPS for the first time, and the throughput on the chain has been greatly improved. It is understood that this is the best result in history measured by the Institute of Information and Communications Technology under a unified hardware environment and 4 nodes, and it was realized by the domestic independent and controllable blockchain platform AntChain. CTPS (Confirmed Transactions Per Second) is the number of on-chain transactions per second, which represents the throughput capacity of the blockchain platform.

▌******166****Executive Meeting of Ethereum Core Developers: The next execution layer of Ethereum will be upgraded to **Prague

On July 21st, Ethereum core developer Tim Beiko said that at the 166th Ethereum core developer executive meeting, developers discussed the status of Dencun’s upgrade of devnets: devnet-7 is still running, and work on tool support is also in progress, especially having a blob browser that includes all blobs since creation. The developers discussed the naming of the next upgrade of Ethereum, that is, EL will use Prague (Prague), and CL will use Electra.

▌French central bank tests show wholesaleCBDC****will improve cross-border payments

Jinse Finance reported that the Bank of France announced on Friday that after extensive testing using encryption technology, it has determined that its Central Bank Wholesale Digital Currency (wCBDC) will improve cross-border payments, settlement finality and the security of a large number of financial assets. The Bank of France began experimenting with wCBDC in March 2020. It runs a second phase of experiments by mid-2022 and has completed 12 so far, including one to settle a bond with Luxembourg worth 100 million euros ($104 million). Other experiments include projects with the Monetary Authority of Singapore, the Swiss National Bank and the Innovation Center of the Bank for International Settlements (BIS).

Cryptocurrency

▌Conic Finance was attacked and lost about 3.2 million million U.S. dollars

On July 21st, on-chain data showed that Conic Finance ETH omnipool was attacked by a series of small hackers, resulting in a loss of about $3.2 million. The stolen funds were transferred to this address: 0x3d32C5a2E592c7B17e16bdDc87EAb75f33ae3010. Conic Finance responded that it is currently investigating the vulnerability involving ETH Omnipool and will share it as soon as there is an update.

▌Conic FinanceDisabled on the frontendETH Omnipooldeposits

Jinse Finance reported that Conic Finance issued an update on Twitter: the investigation into the root cause of the ETH Omnipool vulnerability is continuing, and ETH Omnipool deposits have been disabled on the front end of Conic. Previously, Conic Finance was attacked and lost about $3.2 million. Built for liquidity providers, Conic Finance allows users to provide liquidity to the Conic Omnipool, which distributes funds on Curve proportionally based on protocol-controlled pool weights.

▌** Hong Kong Huafu Jianye Securities has launched virtual asset trading to shareholders**

Jinse Finance reported that Longbridge Technology, which provides digital services for brokerages, has launched a 7x24 one-stop virtual asset trading system solution for brokerages. According to the actual needs of brokerages, it can provide brokerages with two major services, application programs and counters, and collect fees from brokerages in the form of monthly fees. Huafu Jianye Securities, a subsidiary of China Tonghai International Financial (0952), became the first securities firm to launch virtual asset transactions in Longbridge Technology. Longbridge Technology also cooperates with two virtual asset exchanges HashKey and OSL to provide solutions for securities companies, which can provide users with market data, historical K-line charts, transaction statistics and other market data, as well as trading and settlement services, etc. Zhen Jingmin, managing director of Quam Securities, also used the application customized by Longbridge Technology to demonstrate the completion of the first virtual asset transaction at today’s press conference. Hu Guowen, CEO of Longbridge Technology (Hong Kong), said that in addition to Quam Jianye Securities, there are currently more than 20 brokers who are interested in cooperating with them, and it is expected to cooperate with about 30 brokers this year. When asked about the fact that only professional investors in Hong Kong can invest in virtual assets, and that only Bitcoin, Ethereum, and Litecoin are currently accepted, Hu Guowen said that if general investors and other currencies can be accepted in the future, the platform can also accommodate it.

▌Bitfinex**** hackers will be confiscated nearly 4.5 billion in bitcoins, and up to 20 years in prison

According to the latest public court documents, the couple involved in the $4.5 billion crypto money laundering case related to the Bitfinex hack has signed a plea deal with U.S. prosecutors, Jinse Finance reported. According to court documents, the parties allegedly conspired to launder 119,754 bitcoins, all of which were stolen when the Bitfinex platform was hacked in 2016. U.S. prosecutors said criminals employed “many sophisticated money laundering techniques,” allegedly using false identities, automating transactions, and then depositing funds into various exchanges and darknet markets. The couple, who agreed to turn over the billions of dollars in bitcoin as part of a plea deal, are due to appear in court on Aug. 3 and could face up to 20 years in prison.

Important economic developments

▌The Fed’s ability to fight inflation is doubtful, investors turn to TIPS bonds

Investors this week made clear their doubts about the Fed’s ability to achieve its 2 percent inflation target. TIPS break-even inflation has climbed to about 2.3 percentage points below normal yields on regular U.S. Treasuries, a gap that represents the average expected rise in CPI that investors believe will make up for lost returns. If the CPI rises above 2.3%, investors are better off buying TIPS. On Thursday, the yield on the 10-year TIPS bid was more than 5 basis points below the market yield at the bid deadline, suggesting demand exceeded traders’ expectations. Also on Thursday, the iShares TIPS Bond ETF attracted $193 million, its fourth-biggest inflow this year. (Golden Ten Data APP)

Golden Encyclopedia

▌****Turing Test

From 1945 to 1948, Turing was in charge of research on the Automatic Computing Engine (ACE) at the National Physical Laboratory. In 1949 he became Deputy Director of the Computer Laboratory at the University of Manchester, responsible for the software work on the first real computer, Manchester One. During this time, he continued to do some more abstract research, such as “Computing Machinery and Intelligence”. In his research on artificial intelligence, Turing proposed an experiment called the Turing test (Turing test), trying to set a standard for determining whether a machine is sentient.

In 1952, Turing wrote a chess program. However, at that time, there was no computer with enough computing power to execute this program, so he imitated the computer and took half an hour for each step. He played a game with a colleague, and the program lost.

Later, the research team of the Los Alamos National Laboratory in New Mexico, USA designed the world’s first computer-programmed chess-Los Alamos chess on ENIAC based on Turing’s theory.