| SBF may plead not guilty; Binance’s acquisition of Voyager is blocked (January 2)

Loopy Lu

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2023-01-02 08:10 (UTC+8)

This article is about 6313 words, reading the full article takes about 10 minutes

The FTX incident is turbulent, and many parties hold their own opinions.

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The FTX incident is turbulent, and many parties hold their own opinions.

headlines

WSJ: SBF likely to plead not guilty to fraud, other charges at arraignment

Earlier this month, the U.S. Attorney’s Office for the Southern District of New York charged SBF with criminal conduct that led to the collapse of FTX. SBF is likely to appear in person on Jan. 3 in New York to defend himself, one of the people said. (Wall Street Journal)

Industry news

Binance.US' Acquisition of Voyager Digital Assets Could Be Scrutinized by CFIUS Over 'Security Concerns'
Odaily News According to the latest regulatory documents disclosed, Binance.US’ acquisition of Voyager Digital’s assets for US$1.022 billion may be subject to review by the Committee on Foreign Investment in the United States (CFIUS) due to “security issues”. "National security risk" will carry out the next step of risk assessment.

The Committee on Foreign Investment in the United States said that when a foreign investor proposes to acquire or merge control of a U.S. company, it must pass its review to ensure that there are no U.S. national security concerns. The time can take 30 days or a year, depending on the specific transaction. CFIUS has the authority to block any deal "harmful to U.S. interests" if there are risk concerns. (stretto)

ONBTC: El Salvador will always be a Bitcoin country
Odaily News El Salvador's National Bitcoin Office (ONBTC) stated that "El Salvador is a Bitcoin country and always will be".

Last November, President Nayib Bukele of El Salvador signed Decree No. 49 establishing the National Bitcoin Office, which will serve as an executive branch with functional and technical autonomy. One of ONBTC's responsibilities is to provide information about Bitcoin, blockchain and cryptocurrencies in El Salvador to the media and anyone interested. (Twitter)

Partner at Union Square Ventures USV: Book asset value halved by 2022

Odaily News Fred Wilson, a USV partner of Union Square Ventures, wrote that the book value of USV assets under management will be halved in 2022, but venture capital operations are in good condition. Last year was not all bad things. Smart contracts do what the code tells them to do and remain “intact” during market volatility, proving that decentralized protocols are more viable than centralized entities and a major lesson for the Web3 industry to learn. (avc.com)

Vice President of Bithumb's Largest Shareholder Vidente Jumps to Suicide During Investigation by South Korean Prosecutors
Odaily News According to the official Twitter, the NFT market Blur announced that its native token BLUR will be launched at the end of January 2023. The team will announce more details and the exact date of token issuance as soon as possible in the next two weeks.

Project News

NFT marketplace Blur will launch BLUR tokens at the end of January 2023

Odaily News According to the official Twitter, the NFT market Blur announced that its native token BLUR will be launched at the end of January 2023. The team will announce more details and the exact date of token issuance as soon as possible in the next two weeks.
Additionally, the ongoing airdrop event AirDrop 3 will continue until the BLUR token launch, and all Care Packages during the airdrop will also be available within the same timeframe.

Additionally, the ongoing airdrop event AirDrop 3 will continue until the BLUR token launch, and all Care Packages during the airdrop will also be available within the same timeframe.

The Dogecoin Foundation established a new developer fund, allocating 5 million DOGE to promote the development of the Dogecoin Core platform

Odaily News The Dogecoin Foundation and its board of directors recently announced the establishment of a new developer fund, for which the foundation has allocated 5 million DOGE to promote the development of the Dogecoin Core platform. It is reported that the developer fund is managed by existing core developers and board signatories. All payments will be tracked and reported on all social media platforms used by the Foundation during each release cycle.

Pi Network: No cryptocurrency exchange is authorized to list Pi tokens
Odaily News BitDAO’s vote on the BIP-18 “BIT Buyback Program” proposal ended, 148 million BIT voted in favor, only 5 BIT voted against, and the proposal passed the vote. The proposal proposes setting a target daily purchase volume of $2 million USDT per day for 50 days starting January 1, 2023 (a total of $100 million USDT).

The "BIT Repurchase Program" proposal was passed, and a total of 100 million US dollars of BIT will be repurchased within 50 days

Odaily News BitDAO’s vote on the BIP-18 “BIT Buyback Program” proposal ended, 148 million BIT voted in favor, only 5 BIT voted against, and the proposal passed the vote. The proposal proposes setting a target daily purchase volume of $2 million USDT per day for 50 days starting January 1, 2023 (a total of $100 million USDT).

Sushi unveils new token economics proposal that will incentivize liquidity and promote decentralization

Odaily News SushiSwap's new CEO Jared Gray announced a new token economics proposal. The proposal outlines four key changes to the protocol’s token economics. The biggest change is that staking Sushi (xSushi) will no longer be rewarded with transaction fee income, but will be rewarded with emission-based rewards paid in Sushi.

FTX Event Tracking

Bloomberg: Before FTX went bankrupt, SBF had several secret meetings with Biden's senior advisers
Odaily News According to Bloomberg News, before the bankruptcy of FTX, SBF had at least 4 undisclosed meetings with Biden’s senior advisers. It is reported that SBF met with Steve Ricketti, one of Biden's senior advisers, on September 8. This meeting has not been reported before. SBF also visited the White House on April 22 and May 12. He met with Steve Ricketti each time, and another senior Biden aide, Bruce Reid, on May 13.

In addition, SBF's brother Gabriel Bankman-Fried has also visited the White House. Officials said that Gabriel Bankman-Fried mainly discussed matters related to the Guarding Against Pandemics Foundation he runs.

Bloomberg: Bahamian regulators seize FTX assets

Odaily News According to Bloomberg News, shortly after FTX Digital Markets filed for Chapter 11 bankruptcy protection, Bahamian regulators took control of FTX Digital Markets’ $3.5 billion worth of digital assets.

FTX Response: Bahamas Regulators Hold 296 Million in FTX Assets, Not $3.5 Billion

Odaily News According to Reuters, FTX disputed the claim that the Bahamas Securities and Exchange Commission held its $3.5 billion worth of digital assets. According to a statement issued by the exchange on Friday local time, it transferred to Bahamas in November The SEC’s digital assets are worth just $296 million, not the $3.5 billion the regulator claims. (Reuters)

FTX Announces Addresses Seized by Bahamian Authorities Worth About $167 Million
Odaily News FTX tweeted, announcing the FTX asset wallet previously required by the Bahamian authorities to be hosted by Fireblocks. Ethereum and nearly 196 million FTT, with a total value of about 167 million US dollars, not the 3.5 billion US dollars previously claimed by the regulator.

It is understood that on November 12 last year, the Bahamas Securities and Exchange Commission asked SBF and Wang to transfer some digital assets to the Fireblocks wallet. At present, FTX has requested the Bahamas Securities and Exchange Commission to return the seized assets.

FTX Debtors to Seek Bahamian Regulators Return of FTX-Related Cryptocurrency Holdings
Odaily News FTX Trading and its affiliated debtors said Friday that they will seek to return to them FTX-related cryptocurrencies held by the Securities Commission of the Bahamas in accordance with Chapter 11 bankruptcy regulations for the benefit of creditors. The FTX debtor issued a statement stating, “The FTX debtor has notified the Bahamas Commission that neither the former FTX CEO, nor the former CTO, nor the Bahamas Commission has the authority to collect cryptocurrency from the FTX debtor.”

Earlier, the Bahamas Security Council said on Thursday that it has held more than $3.5 billion worth of FTX client assets since Nov. 12. FTX debtors said the funds were transferred after former FTX CEO SBF and former CTO Gary Wang initiated bankruptcy proceedings at the request of local authorities in the Bahamas. (The Block)

Reuters: U.S. federal prosecutors have launched an investigation into wallet transactions related to SBF

Odaily News According to Reuters, people familiar with the matter disclosed that US federal prosecutors have launched an investigation into digital wallet transactions related to SBF. It is reported that prosecutors in the Southern District Court of New York will confirm whether SBF has attempted to transfer assets or cash out some digital assets without approval. Neither the Manhattan Attorney's Office for the Southern District of New York nor SBF attorneys responded to requests for comment so far. (Reuters) As previously reported, SBF tweeted to clarify that the funds transferred from the Alameda Research wallet after he was released on bail had nothing to do with him. "None of this was done by me, I didn't have access to these funds and I can't access them. I can no longer access these funds," he said.

Odaily News 507 Capital founder Thomas Brazile issued a post predicting FTX repayment: "The timetable is: Years 0-2 to establish records; Years 2-7 to litigate and sell investments; Years 7-15 to sell venture capital portfolios ;recover 60-100%+ (assets) in 15 years.” In December last year, 507 Capital had purchased several claims with a face value of $13 million from hedge funds looking to exit FTX quickly. Thomas Braziliel said that he pays 5 to 6 cents (equivalent to 5% of the face value) for each dollar of debt face value; if he can eventually recover more than 60% of the assets, it means that his return on investment is more than 10 times.

data

Beosin: In 2022, the amount of crime in the blockchain field will reach 13.76 billion US dollars

Odaily According to statistics from the Beosin KYT virtual asset anti-money laundering compliance and analysis platform of Beosin, a blockchain security audit company, the total amount of crimes in the blockchain field in 2022 will reach 13.76 billion US dollars, of which money laundering will account for 7.33 billion US dollars , $3.6 billion in attacks, $1.015 billion in pyramid schemes, and $830 million in fraud. Money laundering cases account for 53% of the total amount of cryptocurrency crimes, some of which involve cross-border money laundering, which puts high demands on the cross-border coordination capabilities of the global regulatory system. MLM cases accounted for 1 billion US dollars in 2022. Such cases often involve a large number of users, and the harm caused cannot be underestimated. The global cryptocurrency fraud data totaled 830 million US dollars, of which 51% came from Rug pull.

Investment and Financing

Zhang Yimou's Metaverse company "Danghong Qitian" completed the B++ round of financing, and Netease participated in the investment

Odaily News Recently, Zhang Yimou held shares and served as the co-founder of "Danghong Qitian" B++ round of financing. The financing amount is unknown. NetEase participated in this round of investment through NetEase Media Technology (Beijing) Co., Ltd.

Odaily News DeSchool, a Web3 online education infrastructure incubated by SeeDAO, has completed a seed round of financing at a valuation of US$15 million. Its investors include Y 2 Z Venture, Zhu Jiawei, former COO of Huobi, Hu Donghai, founder of Plancker, Tang Han, founder of SeeDAO, Baiyu, founder of SeeDAO, and Zhixian, founder of UniPass.
The DeSchool Pro version will be launched in November 2022. Lecturers can use this tool to issue SBT education certificates to students who have completed courses. Web3 organizations can also use this tool to simplify the community education process. In the future, DeSchool plans to launch an on-chain education resume function and an on-chain education certification program, becoming a MOOC + LinkedIn in the Web3 era.

The DeSchool Pro version will be launched in November 2022. Lecturers can use this tool to issue SBT education certificates to students who have completed courses. Web3 organizations can also use this tool to simplify the community education process. In the future, DeSchool plans to launch an on-chain education resume function and an on-chain education certification program, becoming a MOOC + LinkedIn in the Web3 era.

Odaily News According to a survey by Inc 42, 2 of the 5 largest venture capital funds launched in India in 2022 will be involved in Web3, namely Fund VIII with a scale of US$670 million under Elevation Capital, which is an investor in Polygon, and Accel's $650 million Accel India VII fund participated in Atoms' pre-seed round. (Inc 42)

Chain game Magic Fantasy completes $3 million private placement financing, EasyCoins Venture participates

Chain game Magic Fantasy completes $3 million private placement financing, EasyCoins Venture participates
Odaily news Web3 game project Magic Fantasy completed $3 million in private equity financing, EasyCoins Venture participated in the investment, the new funds will be used for user game development, AIGC tool integration, marketing, etc., through the integration of AIGC tools, in-game equipment and props can be easily generated into NFT.

It is reported that Magic Fantasy is a free strategy card game. Its built-in economic model is supported by the game token VOD and the stable currency USDT. Players get incentives by winning in PVP games. (digital journal)

Crypto investment firm Cypher Capital injects $10 million into TON
Bill Qian, chairman of Cypher Capital and a member of the board of directors of the TON Foundation, said that the new funds will promote the application of TON in the Middle East, Africa, Asia, Turkey and India markets. It is unclear how many Telegram users have tried services on the TON blockchain. According to data provided by tontech.io, the number of accounts on the TON network has grown steadily, surpassing 1.6 million in December, but the number of active users is unknown. (blockworks)