Rhythm Morning News｜A list of important news from last night and this morning on May 20

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2024-05-20 10:16

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Bounce Brand will launch a multi-source income product Bounce Booster

On May 20, according to official news, Bounce Brand will launch a new income product Bounce Booster, which optimizes users' income by providing multiple sources of income, including Binance Launchpool investment, funding interest rate arbitrage strategy, AUCTION staking and access to Bounce on-chain Launchpad IDO.

Core Researcher of Ethereum Foundation: If the development direction of EigenLayer is contrary to the interests of Ethereum, it will be ready to terminate the advisory position

On May 20, Justin Drake, a core researcher of the Ethereum Foundation, tweeted that he recently became an advisor to the Eigen Foundation. Although serving as an advisor can get a lot of EIGEN token rewards, if the development direction of EigenLayer is contrary to the interests of Ethereum, it will be ready to terminate the advisory position at any time and promise to reinvest all advisory income into valuable projects in the Ethereum ecosystem, whether it is investment or donation.

In addition, Justin Drake said that he was very picky about the advisory position, and the entire negotiation process took more than a year to discuss. The condition for his position as an advisor is that his job responsibilities are limited to studying the risks of re-staking, providing advice in his personal capacity, and his name will not appear in marketing materials.

Cryptocurrency Panic and Greed Index reached 70, and the market greed sentiment dropped slightly

On May 20, according to Alternative data, today's cryptocurrency panic and greed index was 70 (yesterday was 72), and the market greed sentiment dropped slightly with the decline in currency prices.

Note: The panic index threshold is 0-100, including indicators: volatility (25%) + market trading volume (25%) + social media heat (15%) + market research (15%) + Bitcoin's proportion in the entire market (10%) + Google hot word analysis (10%).

The size of the Federal Reserve's balance sheet has dropped to around $7.3 trillion, with a cumulative reduction of about $58.2 billion since May

On May 20, according to data from the Federal Reserve's official website, as of May 14, the size of the Federal Reserve's balance sheet had dropped to around $7.3 trillion, now at $7.304 trillion. The cumulative reduction since May was about $58.2 billion.

U.S. ETF Expert: SEC may approve 19b-4 filings for Ethereum spot ETFs this week, but S-1 approval will slow down

On May 20, ETF Store President Nate GeraciNate Geraci tweeted that the SEC will make a decision on the Ethereum spot ETF this week. The SEC must approve both 19b-4 (trading rule changes) and S-1 (registration statement) before the ETF can be launched. Technically, it is possible for the SEC to approve 19b-4s and then slow down the approval of S-1 (especially given the lack of participation).

LayerZero co-founder: The witch reporting process will be reopened in the next one or two days, the submission method will be changed and a "deposit" system will be introduced

On May 20, LayerZero co-founder and CEO Bryan Pellegrino stated on the social platform that the bounty process will be reopened in the next one or two days. In order to solve the problem of witch reports being deleted on Github, the report submission method will be changed and a "deposit" system will be introduced (the bond amount may be 0.02 ETH).

Gnosis DAO community initiated a "30 million US dollar GNO buyback plan" proposal vote

On May 19, the cryptocurrency fund Thanefield Research initiated a "$30 million GNO buyback plan" proposal vote in the Gnosis DAO community.

Nay said that GNO is seriously undervalued relative to its book value. In order to solve this problem, it is recommended to launch a large-scale buyback plan. It is planned to implement a $30 million buyback within six months, accounting for about 5% of Gnosis DAO's assets.

US spot Bitcoin ETF net inflows of $948.3 million this week

On May 19, according to Farside Investors data, the US spot Bitcoin ETF net inflows reached $948.3 million this week. Among them:

· Net inflow of US$66 million on Monday, May 13

· Net inflow of US$100.5 million on Tuesday, May 14

· Net inflow of US$303 million on Wednesday, May 15

· Net inflow of US$257.3 million on Thursday, May 16

· Net inflow of US$221.5 million on Friday, May 17

Crypto Researcher: In the past six months, the average FDV of newly listed projects on the top CEXs reached US$4.2 billion, and more than 80% continued to fall after listing

On May 19, crypto researcher @tradetheflow_ posted on his social platform that in the past six months, the average FDV of newly listed projects on the top CEXs (such as Binance) reached US$4.2 billion.

Aevo announced the launch of the Aevo Airdrops program, with the first batch of projects being Swell and Zerolend

On May 19, Aevo announced the launch of Aevo Airdrops. Aevo Airdrops is a new program that works with some pre-launch projects listed on Aevo and airdrops their tokens to the most active pre-launch traders and AEVO stakers. The first two projects launched in Aevo Airdrops are Swell Protocol and Zerolend Finance. Aevo will begin airdropping ZERO tokens to eligible wallets next week.

Crypto KOL: pump.fun attacker arrested and detained by UK law enforcement, subsequently released on bail

On May 19, crypto KOL @therollupco tweeted that pump.fun attacker @STACCoverflow was arrested and detained by UK law enforcement in London and subsequently released on bail. His real name may be Jarett Reginald Dunn.

Previously, on May 17, pump.fun said that a former employee used his privileged position in the company to embezzle about 12,300 SOL (about $1.9 million).