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Cointime News Wrapup-Afternoon: UK Treasury Seeks Input on Taxing DeFi Staking and Lending
To smooth and facilitate the reading experience for all users, we hereby compose this wrapup, especially for users who cannot check out what’s going on in a timely manner.
According to defillama data, as of May 18, 2024, the total value locked (TVL) in DeFi has once again surpassed $95 billion. It is currently reported at $95.069 billion, an increase of nearly $12 billion from the low point of $83.04 billion 35 days ago. Among the top five protocols in terms of TVL, Eigenlayer has the highest 30-day increase, with TVL rising by 19.67% to a total of $15.455 billion.
According to Arkham monitoring, someone accidentally sent 90% of their BTC assets to Satoshi Nakamoto's wallet address last night. They were trying to swap Ordinal for PupsToken, but ended up sending almost their entire wallet balance - about $7,000 worth of BTC.
According to official data, within the 7 days ending on May 16th, Circle issued 1.8 billion USDC, redeemed 1.6 billion USDC, and the circulation increased by 200 million. The total circulation of USDC is 33.2 billion US dollars, and the reserve is 33.4 billion US dollars, of which 3.8 billion US dollars are in cash, and Circle Reserve Fund holds 29.6 billion US dollars.
Phoenix Group, a listed mining company and blockchain technology provider for Bitcoin, released its Q1 financial report, with the following main points:
The NFT series "Pudgy Penguins" has recently announced a strategic partnership with South Korean retail and entertainment giant Lotte Group on the X platform to expand its market in South Korea and surrounding areas. More information will be announced in the future. According to CoinGecko data, the floor price of Pudgy Penguins is currently 11.8 ETH, with a 7-day increase of 3.1%.
On April 27th, the Hong Kong Stock Exchange issued three notices, announcing the inclusion of Bo Shi HashKey Bitcoin ETF shares and Bo Shi HashKey Ethereum ETF shares, Huaxia Bitcoin ETF shares and Huaxia Ethereum ETF shares, and Jia Shi Bitcoin Spot ETF shares and Jia Shi Ethereum Spot ETF shares as Central Clearing System multi-counterparty eligible securities. It is reported that:
Hong Kong investors and the Financial Education Committee have stated that the investment scope of spot virtual asset ETFs is limited to virtual assets (currently limited to Bitcoin and Ethereum) provided to the Hong Kong public for buying and selling on virtual asset trading platforms holding China Securities Regulatory Commission licenses. Trading counterparties must buy and sell virtual assets through licensed virtual asset trading platforms to reduce counterparty risks. Asset custody must be entrusted to designated institutions regulated in Hong Kong, such as licensed virtual asset trading platforms, banks, or their subsidiaries registered in Hong Kong, to reduce custody risks. Investors can buy and sell virtual asset spot ETFs through securities firms or banks. Some virtual asset spot ETFs also provide non-listed fund unit categories, which operate similarly to non-listed funds. Investors can apply for and redeem units through securities firms or banks.
Hong Kong Customs has reported a successful crackdown on a major money laundering case, involving a staggering HKD 1.8 billion. According to preliminary investigations, a criminal group consisting of three individuals processed over 1,000 suspicious transactions between June 2021 and July 2022 through the establishment of multiple shell companies and bank accounts, including a significant amount of suspicious fund transfers from virtual currency trading platforms. This indicates that the criminals tried to launder their illegal proceeds by taking advantage of the anonymity of virtual currencies. Currently, Customs has arrested three key members of the criminal group, seized the assets of the involved companies, and confiscated a large number of criminal tools, including mobile phones, company seals, and bank cards. The case is still under further investigation, and more suspects may be arrested. This case once again sounds the alarm, reminding the virtual currency industry to increase vigilance and strictly comply with anti-money laundering regulations.
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