This Week's Noteworthy Events(May 27,2024-June 2,2024)

Memeland: MON Staking Platform to Launch on May 27 During TGE; Stakers to Receive MEME and Other Tokens

Memeland announced on X that new farming tasks related to the MON Protocol (MON) are now live on Stakeland. According to reports, MON Protocol has already announced over 60 partners, with more than 50 additional partnerships in preparation. The MON staking platform will go live immediately on May 27 during the TGE (Token Generation Event). MON stakers will receive MEME tokens and other partner tokens.

ZAP: Blast Gigadrops Event to Launch on May 27

The token issuance protocol driven by the Blast ecosystem, ZAP, announced on X that it plans to launch the Blast Gigadrops event on May 27. The event will last for approximately five weeks, with a total prize pool exceeding $500,000, and will involve collaboration with over 20 other Blast projects.

London Stock Exchange to Launch Bitcoin and Ethereum Crypto ETN Trading on May 28

The London Stock Exchange announced it will start trading Bitcoin and Ethereum cryptocurrency exchange-traded notes (ETNs) on May 28, 2024.

Former FTX Executive Ryan Salame to be Sentenced on May 28

Former FTX executive Ryan Salame will be sentenced on May 28 in a New York court after pleading guilty to criminal charges. Ryan Salame admitted in September to charges of conspiracy to make illegal political contributions and operating an unlicensed money transmitting business. His sentencing was initially scheduled for May 1.

Additionally, former Alameda Research CEO Caroline Ellison, FTX co-founder Gary Wang, and former FTX engineering director Nishad Singh have also pleaded guilty.

LayerZero Labs: Witch Hunt Bounty to Reopen on May 28

LayerZero Labs announced on X that it plans to reopen the Witch Hunt bounty submission on Commonwealth. Participants are required to pay a 0.5 ETH deposit. Only addresses that have paid the deposit will be eligible to submit reports. The deposit will be refunded after the TGE, but will be forfeited if the report is fraudulent, plagiarized, lacks methodology, or is spam.

The schedule for the Witch Hunt bounty is as follows: deposits can be made to a specified address starting at 10 AM on May 25. Submissions will reopen at 8 AM on May 28 for 48 hours and close at 8 AM on May 30. Reports submitted on Github with paid deposits will be given priority review. Successful reports will receive 10% of the bounty at the time of TGE.

VAEX to Ban Hong Kong Users from Trading Starting May 30 at 10 AM

The virtual asset trading platform VAEX will ban Hong Kong users from trading starting at 10 AM on May 30.

Previously, it was reported that the Hong Kong Securities and Futures Commission (SFC) updated its official data showing that VAEX had withdrawn its virtual asset trading platform license application on May 24.

Hong Kong SFC: Virtual Asset Trading Platforms Must Cease Operations by May 31 if No License Application Submitted by February 29

According to official sources, the Hong Kong SFC stated that under transitional arrangements, virtual asset trading platforms operating in Hong Kong must submit a license application to the SFC by February 29, 2024. If they fail to do so, they must cease operations in Hong Kong by May 31, 2024.

Investors should verify the regulatory status of their virtual asset trading platforms and prepare by May 31, 2024. This includes closing accounts with platforms not listed on the “licensed virtual asset trading platforms” or “virtual asset trading platform applicants” lists, or transferring to licensed platforms for trading virtual assets.

Applications on the “virtual asset trading platform applicants” list are still under review, and it is uncertain if they will be approved, posing risks to those trading on these platforms. The SFC strongly urges investors to trade virtual assets only on SFC-licensed platforms, as trading on unlicensed platforms may leave them unprotected.

Gemini Earn to Begin Returning Crypto Assets to Customers by End of May

Genesis creditor Gemini announced it will start returning the first batch of 97% of crypto assets to its Earn program customers by the end of May, with payments made in physical form. This means that customers who previously deposited one Bitcoin into Gemini Earn will receive the same amount in return.