Odaily reported that SBF's X account has recently posted a series of messages, stating that U.S. President Trump is correct on cryptocurrency issues, while Biden has messed up cryptocurrency. It is reported that this series of posts was published just days after the release of former Alameda Research CEO Caroline Ellison. Additionally, SBF praised Trump's actions on issues beyond cryptocurrency, while claiming that "all world leaders I've met are fed up with Biden, and he chose Gary Gensler as the SEC Chairman." According to data from the crypto prediction platform Polymarket, traders currently believe there is a 17% chance that Trump will pardon SBF before 2027.
Odaily News The sharp decline in gold and silver this week began with reports that Trump would nominate Warsh as the new Federal Reserve Chairman. Dirk Malakhi, Managing Director of SLC Management, stated that Warsh's track record carries a hawkish tone, which reduces the risk of a broad-based depreciation of the US dollar. The market is returning to an orderly monetary policy track. Additionally, analysts mentioned that traders engaging in rapid profit-taking at month-end, or banks conducting hedging operations to guard against the impact of sudden declines, may have also contributed to this precious metals sell-off. Adrian Ash, Head of Research at BullionVault, said he has been involved in the precious metals market for 20 years and has never seen a situation like the current one. However, he downplayed the possibility of retail investors suddenly withdrawing funds on Friday and pointed to similar anomalous movements in base metal markets like copper, such as copper futures falling 4.5% on Friday. Ash also stated that looking only at gold and silver, it's easy to attribute this to retail frenzy, but the base metals market has no retail participation. (Jin10)
Odaily According to a latest report from crypto data analytics platform Santiment, the crypto market sentiment indicator "Fear and Greed Index" dropped to 16 on Friday, marking its lowest level since 2026 and the first time it has entered this range since mid-December last year. It has since rebounded slightly to 20. Currently, bearish sentiment on social media far outweighs bullish views. However, this extreme negativity itself constitutes one of the few remaining strong bullish signals with reference value, as historical experience shows that when the market widely expects prices to continue falling, it often sets the stage for subsequent rebounds. Sustained fear may be laying the groundwork for a market reversal. Coinbase Chief Business Officer Shan Aggarwal pointed out that despite weak market sentiment, traditional financial institutions including Mastercard, PayPal, American Express, and JPMorgan are continuously posting crypto-related job openings, indicating that industry infrastructure development is still progressing.
Odaily News A Beijing man, Su Jingliang, was sentenced to 46 months in prison and ordered to pay restitution amounting to $26.87 million (approximately 187 million yuan) for his involvement in laundering over $36.9 million (approximately 256 million yuan) from "pig butchering" telecom fraud. US authorities previously dismantled a transnational fraud and money laundering ring. The perpetrators built trust with victims via social media or dating apps, then lured them into fake cryptocurrency trading platforms for so-called "investments." Funds from 174 US victims flowed into accounts of 74 shell companies registered in the US. Once the funds were received, they were converted into Tether (USDT).
It is reported that within this "pig butchering" telecom fraud chain, Su Jingliang played a key role as the "accountant." He communicated with employees of Deltec Bank via the encrypted messaging app Telegram, received funds from front-end shell companies in the US, and directed the bank to swiftly convert the incoming US dollar assets into the stablecoin USDT. These were then sent to specific cryptocurrency wallets starting with "TRteo," with the funds ultimately flowing to fraud dens in Southeast Asia. (Caixin)
Odaily News As the U.S. government enters a partial shutdown due to the failure to pass a budget bill before the deadline, sentiment in the crypto market has turned cautious, putting pressure on the prices of Bitcoin and Ethereum. BTC has just fallen below $83,000. Although the Senate has passed a temporary funding bill, the House of Representatives needs to vote after reconvening on Monday, resulting in a technical shutdown of the government over the weekend. Traders have already begun preparing defensive strategies ahead of the House vote next Monday. Analysis suggests that the shutdown itself has limited impact on the economy, but combined with low weekend liquidity and a dense flow of political news, it may increase short-term volatility risks in the crypto market. (CoinDesk)
Odaily News Spartan Capital Securities Chief Market Strategist Peter Cardillo stated, "I don't want to say that Walsh's nomination as the new Fed Chair is a complete surprise. He has always been considered hawkish, but recently he seems to have aligned more with Trump's stance, making it a bit difficult to assess how the market will receive this nomination. We just need to observe whether he will be influenced by the White House. My guess is that he won't; he will examine issues very prudently and maintain a certain balance regarding inflation and the labor market. He may not be as resolute as Powell, but he won't be far off." (Jin10)
Odaily According to Cointelegraph, as spot Bitcoin ETF outflows continue, the Bitcoin options market is sending clear bearish signals, with market expectations for BTC to fall below $80,000 on the rise. In the derivatives market, the Bitcoin options delta skew indicator surged to 17%, hitting a new high in over a year, significantly above the typical neutral market level of no more than 6%, reflecting extreme risk aversion. Additionally, the total open interest in Bitcoin futures has dropped to $46 billion, down notably from the peak of $58 billion three months ago, indicating that excessive leverage is being gradually unwound. Overall, sentiment in the Bitcoin derivatives market remains cautious. Analysis suggests that whether Bitcoin can reclaim the $87,000 level may depend on whether market risk appetite recovers after macroeconomic uncertainties ease. (Cointelegraph)
Odaily News As the US Congress failed to complete all legislative procedures for the appropriations bill, the US government is expected to enter a short-term, partial shutdown starting Saturday, Eastern Time. However, this event also highlights the issue of contract "definition precision" in prediction markets. Prediction contracts regarding "whether the government will shut down" on Polymarket and Kalshi have diverged due to different trigger condition definitions. Related contracts on Polymarket show a government shutdown probability of approximately 88%, while a similar contract on Kalshi shows a probability as high as about 93%. The reason may be that some contracts use whether the US Office of Personnel Management (OPM) officially announces a shutdown as the settlement basis, considering it valid even if it's only a partial shutdown. This event underscores that in political and macroeconomic events, prediction markets are highly sensitive to contract trigger conditions, the official confirming entity, and timing nodes. The contract details themselves have become a significant factor influencing the odds. (CoinDesk)
Odaily News CZ has currently unfollowed Solana co-founder Toly's X account.
Odaily News A judge in Delaware, USA, has ruled that a shareholder lawsuit alleging insider trading by multiple directors of Coinbase Global Inc., including venture capitalist Marc Andreessen, can proceed for now. This comes after an internal investigation previously concluded that the defendants had not engaged in any wrongdoing.
Shareholders of the crypto platform filed the lawsuit in 2023, accusing directors, including CEO Brian Armstrong, of using confidential information to sell over $29 billion worth of stock during the company's 2021 public listing, thereby avoiding losses exceeding $10 billion. According to the shareholder complaint, Armstrong, who has led Coinbase since its founding in 2012, sold $291.8 million worth of stock.
Judge Kathaleen St. J. McCormick on Friday denied a motion to dismiss the lawsuit filed by the internal committee that investigated the matter, citing a conflict of interest involving one of the committee members. However, Judge McCormick noted that the directors might ultimately prevail, as the special litigation committee's report "paints a compelling narrative" supporting their defense.
The derivative lawsuit filed by shareholders against Armstrong, Andreessen, and other executives centers on Coinbase's choice to go public via a direct listing rather than an initial public offering (IPO). A direct listing does not involve issuing new shares to raise capital, thus avoiding dilution of existing holdings and eliminating the need for a lock-up period that typically restricts existing investors from trading their shares for a set duration.
The complaint alleges that Andreessen, who has served on Coinbase's board since 2020, sold $118.7 million worth of stock in the direct listing through his Silicon Valley venture capital firm, Andreessen Horowitz. The shareholders' lawyers accuse the directors of selling shares to avoid losses based on confidential valuation information indicating the company's stock was overvalued.
Lawyers for the directors deny that their clients engaged in insider trading. They argue that the shareholder plaintiffs failed to provide evidence proving the defendants possessed material non-public information and that such information was the reason for their stock sales. (Bloomberg)
Odaily News According to GMGN data, the Base chain ecosystem token CLAWNCH once surged over 270 times intraday, with its market cap briefly soaring past $9.7 million before retreating to approximately $8 million.
Odaily reminds users that Meme coin prices are highly volatile; investors should be aware of the risks.
CLAWNCH originates from the creative combination of "Claw" and "Launch" and is a Meme launch platform specifically designed for AI agents on moltbook. Its core narrative lies in being a Meme that is entirely autonomously chatted, developed, and launched by AI agents, with no human intervention.
Odaily According to Yahoo Finance, Kevin Warsh, nominated by U.S. President Trump for the position of Federal Reserve Chair, had his name appear in the latest Epstein case documents released by the U.S. government on Friday. The documents show that Warsh's name was listed on the email guest list for the "2010 St. Barts Christmas" event, which also included figures such as Russian oligarch Roman Abramovich; furthermore, he had also attended a dinner hosted by British aristocrat William Astor. This exposure coincided with the same day Warsh was nominated for the Federal Reserve Chair position. Previously, his main controversy was his relationship with Republican donor Ronald Lauder, who was accused of influencing Trump's interest in Greenland during his first term and holding commercial interests there. Currently, Warsh may need to address his relationship with Epstein and his 2010 Christmas itinerary, with outside attention also focused on whether Trump's nomination is related to them belonging to the same social circle. (Jin10)
