Planet Daily | SEC investigates Ethereum Foundation; Vaneck Ethereum ETF decision postponed (March 21)
headlines
Fortune: The US SEC is launching legal action or classifying Ethereum as a security
Odaily News According to Fortune magazine, the U.S. Securities and Exchange Commission is launching an aggressive legal action to classify Ethereum as a security. Following the SEC’s approval of a series of Bitcoin ETFs in January, this news may further Dealing with the crypto industrys hopes that the U.S. Securities and Exchange Commission will approve BlackRock and other companies Ethereum ETF applications. The SEC’s Ethereum investigation involves asking companies to provide any documents and financial records related to transactions with the Ethereum Foundation, the nonprofit organization that oversees the governance and development of the eponymous blockchain. (Fortune)
According to Odaily, financial lawyer Scott Johnsson posted on the X platform that the Ethereum Foundation received a voluntary information request, which may be related to the approval of spot Ethereum ETFs and the enforcement of Coinbase and Binance. The SEC’s stance on ETH has been untenable for some time, and the regulator is likely to have two options, one is to continue to maintain the ambiguity over whether ETH is a security for a while, the other is It’s about making judgment choices.
Fed keeps interest rates unchanged
Odaily News The Federal Reserve kept its benchmark interest rate unchanged at the range of 5.25% -5.50% for the fifth consecutive time, in line with market expectations. (Golden Ten Data)
Current CEO of FTX: When he took over, there were only 105 BTC left on the FTX exchange
Odaily News SBF claimed that customers did not lose funds in the collapse of the FTX exchange in 2022, while FTX’s current CEO John J. Ray III retorted that these claims were “absolutely, callously and patently false.”
In a victim impact statement written by Ray on behalf of FTX and its subsidiaries, Ray told New York District Court Judge Lewis Kaplan that SBFs delusional claims that its exchange was solvent were a reflection of the bankrupt consortium (FTX Estate) 1 Wrong description of the month statement.
Ray said that when he took over, the exchange had almost no funds, with just 105 Bitcoins remaining, compared to the nearly 100,000 Bitcoins that customers were entitled to. Some of the lost assets have been recovered, while others are lost forever, Ray said.
The damage is immense, Ray wrote in Wednesdays court filing. (His) remorse is non-existent. Effective altruism, at least in light of Sam Bankman-Frieds actions, is a lie.
Ray told the court that despite current plans for customers to recover their funds, many FTX customers remained very unhappy with the valuation of their funds. (CoinDesk)
Industry news
Odaily News TradingView data shows that BTC fell more than 8% on Tuesday, which was the largest single-day decline since November 9, 2022. That day, BTC plummeted by more than 14% due to the collapse of FTX.
The latest market trends show that BTC fell below $61,000 in a short period of time and has fallen 17% from its recent historical high of over $73,500. The CoinDesk 20 index fell 16% in the same time frame.
Trader and economist Alex Kruger said BTC’s recent price decline was catalyzed by several factors, including outflows from spot ETFs. Kruger posted on the Negative (T+ 1); 4. Spamcoin mania on Solana.” (CoinDesk)
U.S. SEC delays approval of Vaneck spot Ethereum ETF
Odaily News The U.S. Securities and Exchange Commission delayed approval of the Vaneck spot Ethereum ETF and said it would specify a longer period to decide whether to approve or disapprove the process of proposed rule changes to the listing and trading rules of the Vaneck Ethereum ETF.
Kraken launches institutional-grade custody service Kraken Custody
Odaily News Cryptocurrency exchange Kraken announced the launch of a custody service for its institutional platform Kraken Institutional. This new custody service called Kraken Custody will provide digital asset custody services and create deposit accounts for institutions. Kraken Custody will also allow institutions to store, manage and transfer funds within a single interface, protected by Kraken’s internal security protocols. (TheBlock)
Montenegrin court rejects Do Kwon’s appeal to extradite him to South Korea
Odaily News The Montenegro Court of Appeal has rejected the appeal of Do Kwon, the founder of Terraform Labs, and plans to extradite him to South Korea. Do Kwons attorney, Goran Rodic, said Do Kwons extradition is now virtually certain and the decision cannot be appealed further, adding that there is currently no timetable for when Do Know will be extradited, nor does a U.S. Department of Justice spokesperson. A request for comment was immediately responded to. (CoinDesk)
Netherlands accuses Tornado Cash developer Alexey Pertsev of helping launder $1.2 billion
Odaily News Dutch authorities have charged Tornado Cash developer Alexey Pertsev, claiming that he helped launder $1.2 billion through the cryptocurrency mixer Tornado Cash. The indictment alleges that Pertsev participated in money laundering activities on the Tornado Cash platform and lists 36 illegal transactions on the platform. One of the transactions was for 175 ETH allegedly from the Ronin Bridge hacker. It is reported that the Ronin Bridge attack in March 2022 caused a loss of US$590 million, including 173,600 ETH and other assets.
On March 26, Pertsev will await trial in the Netherlands on charges related to money laundering and other financial crimes. (The Block)
People familiar with the matter: OpenAI is expected to release GPT-5 in the middle of the year
Odaily News Two people familiar with the matter revealed that OpenAI is expected to launch GPT-5 sometime in the middle of the year, possibly in the summer.
Another person familiar with the matter said that some enterprise customers recently received demos of the latest model and related improvements to the ChatGPT tool. A CEO who recently saw the GPT-5 version said the model is a qualitative improvement and that the model has other yet-to-be-released features, including the ability to call on artificial intelligence agents being developed by OpenAI to perform tasks autonomously.
A person familiar with the matter said that OpenAI is still training GPT-5. Once the training is complete, it will be safety tested in-house. (Business Insider)
Project News
According to official news from Odaily, the TON Foundation plans to launch the first season of the Open League on April 1 and will provide 30 million Toncoin community rewards, worth approximately US$115 million. The first season of Open League includes four systems: The League, Token Mining, Quests Airdrops, and Liquidity Pool Boosts.
Starknet plans to introduce parallel trading functionality in the second quarter of this year
Odaily News Ethereum extension protocol Starknet expects to introduce parallel transaction functions in the second quarter of 2024 to increase the throughput of its Layer 2 Rollup network and reduce fees. It is reported that Starknet and other important Ethereum Rollups hope to speed up the transmission of transaction proofs directly to Blob ability. (Cointelgraph)
OP Labs: Failure proof is online OP Sepolia test network
Odaily News OP Labs announced that it has released Fault Proof on the OP Sepolia test network and will deploy it on the main network in the future. It said: “Open source, fully functional proof-of-fault is now live on OP Sepolia. With permissionless verification, anyone can participate in the system without an allowlist.”
It is reported that failure proof serves as a security mechanism for the Ethereum L2 network, allowing users to question transactions that may be fraudulent or incorrect. They are critical to ensuring that off-chain transaction processing is free from manipulation. (The Block
Dymension launches new standard with fraud proof Dymension RollApp Standards (DRS)
According to official news from Odaily, Dymension, the Cosmos ecological modular settlement layer, announced the launch of a new standard with fraud proof, Dymension RollApp Standards (DRS), which supports the verification of RollApp status and standard chains. Once DRS is approved and effective, anyone can use the standard license-free and deploy a RollApp to verify the state transitions of the RollApp.
Odaily News Side Protocol announced that it will expand the Bitcoin network through a modular technology stack and launch the first phase of the test network. As a key step in the roadmap, the team will introduce a Bitcoin sidechain as the settlement layer for modular rollup. The settlement layer will be designed for proof verification, liquidity unification, value exchange and cross-rollup interoperability.
In addition, Side Protocol will leverage the Cosmos technology stack and IBC protocol to facilitate seamless value transfer between Bitcoin and the Cosmos ecosystem.
Aethir’s Checker node public sale amount has exceeded US$92 million
According to official news from Odaily, the decentralized GPU cloud infrastructure Aethir launched the check node Check Node for public sale at 18:00 yesterday. Calculated based on the ETH snapshot price, the total number of nodes sold within 2 hours has exceeded 92 million US dollars, Tier 27 or below All nodes have been sold out.
Odaily News Trezor issued a statement on the X platform regarding the theft of its account: Despite good protection measures, including strong passwords and 2FA, a security incident occurred overnight on its X/Twitter account. The team will continue to investigate. Please be alert and remember: Trezor will never ask for funds or assets to be sent to any address. Please never share your recovery phrase.
According to news earlier today, chain detective ZachXBT posted on the . After checking, the relevant posts have been deleted.
Yearn Vault V3 has been launched on the Ethereum mainnet
Odaily News Yearn posted on the X platform that Vault V3 has been launched on the Ethereum mainnet.
Aevo announces online trading and staking incentive program
According to official news from Odaily, Aevo announced that its trading and staking incentive program is now online. Traders and AEVO/RBN holders will have the opportunity to earn more AEVO within 4 months starting from the airdrop date.
Odaily News Kamino issued a document on the To further reward early users, users who participated in Kamino Season 1 will receive additional loyalty boosts in Season 2.
Odaily News DEX aggregator ParaSwap issued a document on the X platform stating that it discovered a critical vulnerability affecting users authorized to the Augustus V 6 contract. ParaSwap has suspended the V 6 API and is conducting white hat attacks to ensure the safety of user funds. The funds are now safely held in the Safe wallet starting with 0x 66 E 90 and will be returned to the user shortly.
In addition, users must use services such as Revoke.cash to revoke Augustus V 6 contract authorization. Four addresses are currently affected, resulting in a total loss of $24,000.
Afterwards, Slow Mist Cosine posted on the X platform that the relevant risk funds had been rescued by white hats and the losses were very small.
Portal will open staking function on Thursday
Odaily News Cross-chain gaming platform Portal posted on the X platform that staking will be open on Thursday. Users stake PORTAL and upgrade to gain exclusive access to upcoming game mints and pre-sales. Additionally, Portal is about to announce its first Launchpad partner.
Milady Wif Hat pre-sale refund has been completed and tokens will be issued soon
Odaily News Meme project LADYS stated on X that all pre-sale funds have been returned to the original wallet address. Qualified pre-sale wallets can receive free LADYF tokens after the website goes live.
CryptoPunk #7804 sold for 4850 ETH, the second highest price in the series
Odaily News CryptoPunk #7804 was sold for 4850 ETH (approximately $16.42 million) on March 21, setting the second highest transaction price in the series so far. Its selling price is higher than the selling price of CryptoPunk #3100 on March 4 (4500 ETH, approximately $16.03 million).
The most expensive CryptoPunk ever remains CryptoPunk #5822, which was sold on February 12, 2022 for 8,000 ETH (approximately $23.7 million).
It is reported that CryptoPunk #7804 is one of the 9 AlienPunks in the series. (The Block)
Investment and Financing
Morph completes US$20 million in seed and angel round financing, led by Dragonfly Capital
Odaily News Ethereum L2 Morph announced the completion of a $19 million seed round of financing, led by Dragonfly Capital, with participation from Pantera Capital, Foresight Ventures, The Spartan Group, MEXC Ventures, Symbolic Capital, Public Works, MH Ventures and Everyrealm. In addition, Morph also received US$1 million in angel round financing. Investors include founders from projects such as Polygon, Manta, Galxe, Sei, Nansen, Story Protocol, and KOLs such as Icebergy, MoonOverlord, NaniXBT, and Dingaling. Morph plans to use this round of financing to accelerate team building, increase developer incentives, expand marketing, etc.
As an Ethereum Layer 2 solution, Morph aims to provide project founders with one-stop development tools and solutions. Morph is built on three key technologies, namely decentralized sequencer, Optimistic zkEVM integration and modular design.
Odaily News Mystiko.Network announced the completion of a US$18 million seed round of financing, led by Sequoia Capital India/SEA (now known as Peak XV Partners), Samsung Next, HashKey, Mirana, Signum, Coinlist, Naval Ravikant, Sandeep Nailwal, Gokul Rajaram, Tribe Capital, Morningstar Ventures and others participated in the investment. Mystiko.Network is a Web3 base layer built on the Mystiko SDK, a universal ZK SDK that simultaneously provides scalability, interoperability, privacy, and artificial intelligence for every blockchain/dApp. (Decrypt)
Odaily News Atticc Labs and its product EarlyFans completed a US$1.5 million seed round of financing, co-founded by Alliance DAO, SNZ Holding, GSR, Zee Prime Capital, GBV Capital, ProDigital Future Fund, Alchemy Ventures, CyberConnect, Mask Network founder Suji Yan, and CyberConnect Ryan Li and Waterdrop Capital partner Jademont also participated in the investment. Other angel investors include 0x minion, angel, icebergy, naniXBT, toptickcrypto, Zeneca, etc. The funds raised will be used for the launch and promotion of the product EarlyFans.
Odaily News Berachain ecological transaction aggregation platform Ooga Booga has completed US$1 million in financing at a valuation of US$10 million. The investor information and specific financing details have not been disclosed. Currently, Ooga Booga has not yet been launched on the Berachain mainnet. (CoinDesk)
Odaily News Arbitrum money market and decentralized trading protocol Dolomite announced the completion of strategic financing of US$900,000. Polygon co-founder Sandeep Nailwal, Polygon Labs CEO Marc Boiron, DCF GOD, DeFi Dad, etc. participated in the investment.
Odaily News Gamification market and liquidity solution Eeesee announced the completion of a strategic round of financing. Animoca Brands participated in the investment and will also provide Eeesee with its industry expertise and contacts to support Eeesee in improving the efficiency and experience of digital asset transactions in the Web3 environment.
Beacon Technology Fund strategic investment trading platform BIKA Global
Odaily News Whistles Web3 growth fund Beacon Technology Fund officially announced its strategic investment in BIKA Global. Both parties stated that they will jointly build a new era of digital finance.
This investment aims to further strengthen BIKA Globals spot and contract products, optimize the platform ecosystem, and bring a more secure and efficient digital asset trading experience to global users.
Character*Voice
Odaily News Lin Chen, head of Asia-Pacific business at Deribit, posted on the
Odaily News Crypto Fund Management Company EMC Labs issued an article on the . Profit accounting for more than 70% of the total market value of BTC is a key point. Before and after, the selling of large amounts of chips often overdrafted purchasing power in the short term, thus forming a stage adjustment in the market. This cycle is similar to 2017. In 2014, the profit ratio reached 71% on March 6. The adjustment started and ended on March 24, which lasted 18 days, with a range of -27.32%. This adjustment lasted for 7 days from March 13, when the profit accounted for 72%, to March 20, with a range of -27.70%. From a space perspective, it is basically in place, but from a time perspective, it is not yet sufficient.
According to EMC Labs engine monitoring, the peak of chip selling has passed, the current inflow scale of exchanges (planned sales) has significantly reduced, and static outflows have resumed. Based on the above, the bull market is still continuing and a good buying point has emerged.
Odaily News Coinbase Chief Legal Officer Paul Grewal posted on the X platform that millions of Americans hold ETH. ETH has been crucial to the cryptocurrency space since its launch in 2015. ETH is a commodity, not a security. This is also the position that the SEC has taken for many years. The SEC has no sufficient reason to reject the ETH ETP application.
SBF: 50 years in prison is equivalent to a death sentence
Odaily News According to Fortune magazine, Sam Bankman-Fried argued that being sentenced to 50 years in prison in the FTX case was equivalent to a death sentence. In a letter to Judge Lewis Kaplan, SBF attorney Mark Mukasey denounced federal prosecutors for trying to unfairly paint SBF as a depraved supervillain and added that SBF has lost everything.
Odaily News Kyle Davies, co-founder of collapsed crypto hedge fund Three Arrows Capital, said he has no regrets about losing billions of dollars in investor funds and plans to do everything possible to avoid jail.
Speaking on the Unchained Podcast, Davies reiterated that he had no regrets about the collapse of Three Arrows Capital and insisted that his professional reputation remained intact despite huge backlash on social media for past misdeeds.
Davies laughed and said: Am I sorry that a company went bankrupt? No. It happens all the time.
Responding to a question about his future plans, Davies added: Maybe at least we can tell the next Three Arrows how to do better when they go bankrupt.
When asked about his whereabouts, Davies said he would try not to return to Singapore to avoid the risk of jail. When asked about his whereabouts, he claimed he was in Europe and said he frequently traveled between Europe and Asia. (Cointelegraph)
