Rhythm Morning News｜A summary of important news from last night and this morning on August 8

Democratic Party launches "Crypto for Harris" campaign to fight Trump

BlockBeats news, on August 8, according to FOX Business, the US Democratic Party launched the "Crypto for Harris" campaign and plans to hold a virtual town hall meeting next week. The lineup of speakers includes billionaire entrepreneur and cryptocurrency advocate Mark Cuban, SkyBridge Capital founder and Trump critic Anthony Scaramucci and a few Democratic members of the House of Representatives. The meeting is open to the public to discuss ways to support Harris' campaign and raise funds.

The "Crypto for Harris" campaign aims to attract 40 million American voters who own digital assets and show the Democratic Party's position on promoting the blockchain and cryptocurrency industry. The Republican Party's influence among cryptocurrency voters is rising, and Trump once promised to reduce regulation and set up Bitcoin reserves at the Bitcoin Conference. However, Harris' campaign team recently brought in former Binance and Ripple consultants, showing its emphasis on the cryptocurrency industry.

Yesterday's U.S. Ethereum spot ETF had a net outflow of $23.7 million

BlockBeats news, August 8, according to Farside investors data, yesterday's U.S. Ethereum spot ETF had a net outflow of $23.7 million, including:

ETHE had a net outflow of $31.9 million;

EZET had a net inflow of $1.8 million;

ETHW had a net inflow of $1.7 million;

FETH had a net inflow of $4.7 million.

Japanese listed company Metaplanet obtains 1 billion yen loan to increase BTC holdings

BlockBeats news, on August 8, according to BitcoinMagazine, Japanese listed company Metaplanet Inc. announced that it had obtained a 1 billion yen (0.1% annual interest rate) loan, and the proceeds will be used to purchase BTC.

Grayscale and Bitwise jointly apply to the New York Stock Exchange to launch Ethereum spot ETF options trading

BlockBeats news, on August 8, according to The Block, Grayscale and Bitwise jointly with the New York Stock Exchange submitted a rule change to the U.S. Securities and Exchange Commission (SEC), proposing to list and trade options for Bitwise Ethereum ETF, Grayscale Ethereum Trust and Grayscale Ethereum Mini Trust.

The document stated: "The trading platform believes that providing this option will benefit investors because it provides investors with a relatively low-cost investment tool to help them gain exposure to spot Ethereum, while also providing them with a hedging tool to meet their investment needs for Ethereum products and positions." Comments on the proposal will be submitted within 21 days. According to previous news, BlackRock and Nasdaq have also applied to launch Ethereum spot ETF options trading.

Blast will distribute 11 million Gold to DApps in the second round of distribution in the second phase

BlockBeats news, on August 8, according to official news, Blast announced that the second round of distribution of the second phase of Gold (gold points) has been launched, and a total of 11 million Gold will be distributed to DApps. This distribution officially reserves 10 million Gold for existing DApps on the Blast mainnet and 1 million Gold for newly launched DApps. Details of the next round of Big Bang competition will be announced in the coming weeks

Ripple CEO: SEC resistance to XRP community has disappeared

BlockBeats news, on August 8, after "a U.S. federal judge ruled that Ripple's XRP sales to retail customers did not violate federal securities laws", Ripple CEO Brad Garlinghouse posted on X, "The SEC demanded a payment of $2 billion, and the court recognized that they had gone too far and reduced their request by about 94%. We respect the court's ruling and are clearly continuing to develop our company. This is a victory for XRP, the industry and the rule of law. The SEC's resistance to the entire XRP community has disappeared."

Arbitrum now supports USDC as a custom Gas payment token

BlockBeats news, August 8, according to official news, Arbitrum Orbit chain can now use USDC as a custom Gas token. This integration opens the door to building new applications, including applications that require payment channels to achieve a frictionless user experience.

Analysis: PlusToken selling pressure is far less than 789,000, because most of them have been sold

BlockBeats news, on August 7, on-chain data analyst Yu Jin wrote that most of the 789,534 ETH selling pressure of PlusToken that was rumored online entered the Bidesk trading platform through multiple addresses from June to September 2021 (the platform collapsed as early as the end of 2021), and then withdrew from Bidesk and transferred to Huobi. At least 268,843 of them were deposited in Bidesk at that time.

In addition, 12 addresses that have collected PlusToken-related ETH in the last 30 hours have collected a total of 25,757 ETH (about $63.1 million). Some of these ETH were not transferred to Bidesk in 2021, and some were withdrawn from Bidesk but not transferred to Huobi.

So there is not such a huge amount of ETH waiting to be sold, most of which should have been sold in 2021, and what is currently collected is a small part of the unsold in 2021.

BlockBeats Note: Lookonchain, which previously released information related to "PlusToken address collects 789,534 ETH", has deleted the original tweet.

Ethena Labs announced integration with Solana, supporting SOL as collateral asset

BlockBeats news, on August 7, according to official news, Ethena Labs announced integration with Solana, users can buy and sell its USDe stablecoin on Solana, use USDe for transactions, and accumulate Ethena's native rewards through sUSDe. In addition, SOL has been added as a collateral asset for USDe.

The first batch of supported protocols currently include Kamino, Orca, Drift, etc.

meson responds to "delisting OKX": There is no problem with itself and it will not succumb to external pressure and interference

BlockBeats news, on August 7, meson.network responded to the recent community FUD on social media, saying that it has noticed the recent news and the concerns it has caused. From an official perspective, it is committed to maintaining a high signal-to-noise ratio strategy, where the signal is the product, business model and cash flow, and the noise includes anxiety-provoking issues.

Many projects and individuals have succumbed to external pressure and interference and eventually lost their due value. meson.network will not make the same mistake and will remain steadfast in its beliefs for a long time.

BlockBeats previously reported that meson.network announced at the end of January this year that it had completed strategic financing at a valuation of US$1 billion, led by Presto Labs. It was then listed on OKX on April 29 this year, just 100 days after the announcement of the delisting news today. After listing on OKX, it reached a high of US$10, and then fell all the way. The current temporary quotation is US$0.124, a daily drop of 33.5%, and the FDV is only US$12.47 million.

Aevo announced support for Base chain deposits and withdrawals

BlockBeats news, on August 7, according to official news, Aevo announced support for Base chain, and currently supports depositing USDC or ETH on the Base chain into Aevo.

Binance Labs invests in Solana re-staking protocol Solayer

BlockBeats news, on August 7, according to official news, Binance Labs, the venture capital and incubation department of Binance, announced an investment in Solana's ecological re-staking protocol Solayer.

It is reported that Solayer is a re-staking network on Solana. It aims to enhance on-chain decentralized applications (dApps) by improving network bandwidth while ensuring the security of L1.

Less than 60 days after the first phase was opened, Solayer has quickly grown into the 13th largest protocol on Solana. At present, Solayer's total locked value (TVL) has exceeded 150 million US dollars, and it has attracted more than 70,000 unique deposit addresses to participate in staking. With the new funds from this round of financing, Solayer plans to expand the team, introduce new protocols, and establish itself as Solana's core program. In addition, the team will also focus on studying solutions to Solana's network congestion problem using re-staking infrastructure. Solayer also plans to launch a second phase product where stakers can use SOL to secure Solana and dApps while guaranteeing network bandwidth and transaction throughput.

Binance co-founder and head of Binance Labs He Yi said: "Binance Labs is committed to supporting early projects that drive the growth of the crypto ecosystem. Solayer has already made a name for itself in the Solana ecosystem, and we are excited to work with them to make the ecosystem more active."

The Supreme Court of Montenegro will decide by the end of this week whether to postpone the extradition of Do Kwon to South Korea

BlockBeats reported that on August 7, the Montenegrin daily Vijesti reported that the Supreme Court of Montenegro will decide by the end of this week whether to postpone the extradition of Terraform Labs co-founder Do Kwon to South Korea. The Office of the Supreme Prosecutor of Montenegro has requested the Supreme Court to review the legality of the decision made by the Montenegrin Court of Appeal and proposed to postpone its execution. The Prosecutor's Office believes that the decision of the Court of Appeal violates the Law on International Legal Assistance in Criminal Matters.

Grayscale Launches Crypto Investment Trusts for SUI and TAO

BlockBeats news, August 7, according to The Block, crypto asset management company Grayscale has added Bittensor (TAO) and Sui Network (SUI) to its list of crypto investment products.

Grayscale launched Grayscale Bittensor Trust and Grayscale Sui Trust today. Grayscale Bittensor Trust invests in Bittensor's native token TAO, while Grayscale Sui Trust focuses on the Sui protocol's SUI token.