| SEC seeks to freeze Binance, CZ, and Binance.US assets; Binance.US has earned $410 million since its inception (June 8)

秦晓峰

Odaily资深作者

@QinXiaofeng888

2023-06-08 08:00 (UTC+8)

This article is about 2163 words, reading the full article takes about 4 minutes

Nasdaq is working with FINRA and SEC to assist with Coinbase lawsuit

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Nasdaq is working with FINRA and SEC to assist with Coinbase lawsuit

headlines

SEC Seeks Court to Freeze Binance, CZ, and Binance.US Assets

In addition, the SEC is also seeking a court order to freeze Binance, CZ assets and file a temporary restraining order. The SEC requested an asset freeze because CZ and Binance executives were accused of diverting client funds into CZ’s own investment funds to use as he wished, including buying an $11 million yacht and buying BUSD. The charges are similar to those against FTX, Alameda Research, and SBF, though CZ and Binance have only faced civil charges so far. (The Block)

cryptocurrency

Binance.US has $410 million in revenue and $225 million in gross profit since inception

The SEC accountant detailed the exchange's financials in a document based on information provided to the agency by Binance.US: From 2019 to April 2023, BAM Trading Services, the entity behind Binance.US It has generated $410 million in revenue with a gross profit of $225 million. Accounts show the exchange will generate $265 million in revenue in 2021. This is followed by 2022, with $95 million in revenue and a loss of $181 million. (The Block)

The BNB Bridge attacker’s mortgage position is taken over by the BNB Chain team and may not directly affect the market

According to Lookonchain monitoring, the attacker who used the Binance Bridge vulnerability to steal about 2 million BNB (worth nearly $600 million) deposited 924,821 BNB on VenusProtocol, worth $249 million, and the current pledge rate is 1.23. When BNB When the price falls to $220, it will be liquidated on a large scale. However, this liquidation will not actually happen directly. After the Binance Bridge attack, Venus passed the VIP-79 proposal of a whitelist liquidation system for this event in November 2022. The specific content is to cooperate with Binance and other BNB chain ecosystems. Participants cooperate to take over the position when it reaches the liquidation line and collectively pay down the debt. The BNB Chain core team is the sole liquidator of this position to safely control this ultra-large BNB volume and avoid serial liquidations.

Data: $915M worth of assets flowed into Binance in the past 24 hours

According to 0x Scope’s monitoring, even under the pressure of the SEC, assets worth $915 million have flowed into Binance in the past 24 hours, including about 100 million USDT transferred from addresses starting with 0x 3356 and about $50 million transferred from Jump Trading ETH and stablecoins and nearly $30 million in USDT and USDC transferred from Cumberland.

Data: Encrypted market maker Cumberland withdraws about 24,850 ETH from Coinbase and Binance

According to @lookonchain monitoring, since the SEC sued Binance and Coinbase was reported in the news, encrypted market maker Cumberland withdrew 20,000 ETH (approx. $37 million) from Coinbase and 4,850 ETH (approx. 9 million USD), a total of 24,850 ETH. Additionally, Cumberland withdraws AXS, SHIB, COMP, LINK, CRV, AAVE and RNDR tokens. During this period, Cumberland withdrew approximately 90 million USDC from Circle, deposited approximately 85 million USDC into Coinbase, and deposited 3.5 million USDC into Binance.

According to Spot On Chain monitoring, a giant whale address exchanged 1.5 million USDC for 1.2 trillion PEPE at an average price of $0.0000012 yesterday. It is reported that the address was created 20 days ago (May 17), and only PEPE has been traded so far, and USDC was previously received from Binance through an intermediate wallet address (starting with 0x 24 b).

Project News

Xverse officials said that we fixed a bug that caused the wallet seed phrase to be stored unencrypted on the device. All users should update to the latest version of the Chrome extension as soon as it is released, which is currently awaiting approval from Google. Xverse says that no seed phrase leaves the user's local device. The risk of this error is minimal. However, if the user is concerned about risks, the assets can be migrated to the newly generated wallet. The bug does not affect Xverse's iOS and Android apps.

The Aave community initiated the ARFC proposal, proposing to introduce the native stablecoin GHO into the Ethereum mainnet

The governance page shows that Aave Companies submitted an ARFC proposal on "Aave's native stablecoin GHO on the mainnet", proposing to use Aave V3 Ethereum Facilitator and FlashMinter Facilitator to introduce GHO into the Ethereum mainnet. If the ARFC and subsequent AIP proposals are approved by Aave DAO, GHO will be launched on the Ethereum mainnet, and Aave V3 users on Ethereum will be able to use collateral to mint GHO, which will make stablecoin borrowing on the Aave protocol more competitive, and Generate additional income for Aave DAO by providing 100% interest payments on GHO borrowings to the DAO treasury.

Investment and Financing

Decentralized Mining Startup WOW EARN Completes $30M Series A Funding, Pinnacle Innovations Capital Participates

Decentralized mining startup WOW EARN announced the completion of a $30 million Series A round of financing, with participation from Pinnacle Innovations Capital, Blue Horizon Ventures, Ascendant Growth Partners, Nexus Pioneers Capital, and Quantum Leap Ventures. Funding from this round will be used to expand the business, expand the development platform, and strengthen the community-based business strategy. It is reported that WOW EARN owns a decentralized mining platform that allows users to participate in mining without any professional experience or mining equipment.

Cosmos core developer Informal Systems completes $5.3 million in financing led by CMCC Global

Cosmos core developer Informal Systems completed $5.3 million in financing led by CMCC Global, with participation from Nascent, Maven 11 and individual investors from Celestia and EigenLayer. Funding from the round will be used to fuel the growth of Informal Security, the company's security audit arm. (The Block)

Nealthy, a Web3 index investment firm, completes $ 1.3 million in financing

Nealthy, a Web3 index investment company, completed a $1.3 million Pre-Seed round of financing from an undisclosed investor. It is reported that nealthy builds a diversified investment portfolio for investors by storing a variety of digital assets in chain vaults and issuing index tokens.

global policy

U.S. Treasury Secretary Yellen said she supports U.S. regulators' regulation of cryptocurrencies to protect consumers and investors. In addition, Yellen believes that cryptocurrency regulation should be strengthened and will work with Congress to pass more legislation. (Golden Ten)