Wu's Weekly Selection: Top 10 News and Hot Articles, $OP Stolen and Returned, Ropsten Successfully Merged, US CPI Hit a New High (0603-0610)

1. Due to a mistake in Wintermute, 20 million $OP were stolen. Although the hacker said that the money would be returned, Optimism's reputation was not good.

The theft of 20 million $OP due to Wintermute’s mistake has caused a lot of sighs in the community. The focus is not on the theft itself, but on the fact that the OP official did not disclose the incident immediately. This behavior made the community very dissatisfied and also caused the price of $OP to fall to a certain extent. At present, the hacker has stated that he will return the remaining $OP.

In addition, $OP has started governance voting and will airdrop 35 million $OP tokens to 23 ecological projects, hoping that the governance that vitalik has praised many times may allow the OP ecosystem to turn the tide.

2. PayPal users can now transfer their crypto assets off its platform

PayPal announced on Tuesday that its crypto users can now transfer their crypto assets off its platform. PayPal first launched its crypto product at the end of 2020, allowing users to buy, sell and hold BTC, ETH, BCH, LTC, but at that time did not support the transfer of funds to external destinations such as Meta Mask, Coinbase or hardware wallets.

3. The Ropsten test network has been successfully merged, and some test networks will be gradually closed

On June 9, Ethereum developers announced that they had merged the Proof of Work (PoW) chain of the Ropsten testnet with the PoS beacon chain . Tim Beiko said that there were indeed some missing block proposals, which was a known issue before and the details would be studied in depth. Before the mainnet merge, there will be two more testnet merges.

In addition, the Rinkeby and Ropsten testnets will be closed at the end of the year, Kiln will be closed after the mainnet merger is completed, and the Goerli and Sepolia testnets will be retained after the mainnet merger.

4. The U.S. Second Circuit Court ordered Terraform Labs and Do Kwon to comply with the U.S. SEC subpoena

The U.S. Second Circuit Court rejected Do Kwon ’s appeal and confirmed that the subpoena related to the U.S. Securities and Exchange Commission ( SEC ) was indeed legal. The SEC was investigating Terraform ’s Mirror Protocol , which allows investors to create and trade digital assets pegged to the prices of U.S. securities. The SEC is seeking to determine whether Kwon or Terraform violated federal securities laws by creating, promoting, and selling digital assets.

5. stETH is slightly decoupled, perhaps due to the Celsius incident, institutions are fleeing the Curve pool

Perhaps due to the impact of the hacking incident on the lending platform Celsius , investors are worried about a run, and even institutions are gradually withdrawing from the Curve pool, resulting in a skew in the current stETH/ETH pool asset ratio.

However, Lido officials stated that stETH is anchored to ETH 1:1, and the exchange ratio does not reflect the underlying support of the ETH staked by users, but reflects the fluctuations in secondary market prices.

6. The United States announced that the unadjusted CPI annual rate in May was 8.6%, the highest since December 1981.

At 20:30 on June 10, the United States announced that the unadjusted CPI for May was 8.6% year-on-year, the highest since December 1981. With the release of the higher-than-expected CPI in the United States, Bitcoin fell below $30,000.

7. Bitcoin’s market capitalization reached 47.52% on June 6, the highest since July last year

Bitcoin's market capitalization reached 47.52% on June 6, the highest since July last year. Ethereum's market capitalization reached 17.74% on June 6, the lowest since October last year.

8. The bill related to the US cryptocurrency regulatory framework is suspected to have been leaked

The bill related to the regulatory framework for cryptocurrencies in the United States is suspected to have been leaked. The leaked document shows that DAOs, exchanges, and stablecoin providers must become registered entities. If they are not registered, they will allegedly be taxed. In addition, disclosure requirements have become more stringent, and anonymous projects are almost impossible to exist. The bill also proposes to increase the compliance costs of exchanges and plans to unify the remittance laws of various states. It is worth noting that the leaked document may only be a draft of the bill, and its authenticity has not yet been confirmed.

9. Reuters believes that Binance has served as a money laundering channel for at least $2.35 billion in the past five years. Binance responded that the report was untrue

A Reuters investigation found that Binance, the world's largest cryptocurrency exchange, has served as a conduit for laundering at least $2.35 billion over the past five years. A Binance spokesperson said the data was "inaccurate and exaggerated" and that Reuters mistakenly included indirect flows in its calculations. Binance responded to the Reuters report by saying that "the Reuters article is full of lies and a lot of leaps to conclusions, and relies on bad data."

10. Alibaba Cloud tweeted that it would launch NFT solutions, including web hosting, digital marketing, etc., but later deleted the post

On June 8, Alibaba Cloud’s official Twitter account announced the launch of NFT solutions, including web hosting, digital marketing, content distribution, etc., to help users build NFT markets. However, the post was later deleted, and it is not clear why the social media post was deleted and the product was removed from its website.