headlines
Coinbase CEO Says Binance and DOJ Settlement Will End Era of ‘Bad Actors’ in Cryptocurrency Industry
Coinbase (COIN) CEO Brian Armstrong says that following the recent settlement between Binance and the U.S. Department of Justice, the industry can finally end the era of bad actors.
There are certainly some bad actors in the cryptocurrency space, and I think our recent enforcement action against Binance gives us an opportunity to turn the page and close the chapter on cryptocurrency history, Armstrong said in an interview with CNBC International at the Global Investment Summit in London on Monday. That chapter.
Binance.US says it was not involved in settlement announced last week, CZ resigns as board chairman
Binance.US issued a statement updating last week’s news regarding CZ and Binance.com. Binance.US says it exclusively serves U.S. customers, operates independently and is not affiliated with Binance.com.
The statement stated that Binance.US is not involved in the settlement agreement announced last week and has no involvement with the U.S. Department of Justice (DOJ), the Department of Fiscal Intelligence (FinCEN), the Office of Foreign Assets Control (OFAC) or the Commodity Futures Trading Commission (CFTC). Any unresolved enforcement matters. Binance.US will continue to be fully operational and committed to providing customers with the same products and services.
At the same time, CZ decided to resign as chairman of the board of directors, transferred voting rights through a proxy arrangement, and no longer participated in corporate governance. The statement thanked CZ for his guidance over the years, emphasizing that Binance.US will continue to be led by Norman Reed and the existing management team, maintain a clear development momentum, and are committed to providing customers with a high-quality crypto trading experience.
Industry News
Digital Currency Group (DCG) has reached a new repayment agreement with its bankrupt subsidiary Genesis Global Holdco LLC, which will see Genesis end its lawsuit seeking approximately $620 million from DCG.
Genesis lawyer Sean ONeal said at the hearing that the new agreement stipulates that DCG will pay Genesis approximately $200 million in the next few weeks and requires DCG to complete the outstanding payments in April 2024. If DCG defaults, Genesis can try Collect all outstanding amounts.
Bloomberg analyst James Seyffart said on the X platform that Franklin Templeton has submitted an update to its Bitcoin spot ETF application to the SEC.
Earlier today, James Seyffart said on the X platform that according to public regulatory documents, the SEC is seeking feedback from the public on Franklin Templeton and Hashdex’s proposed Bitcoin ETF. The SEC wants to analyze whether the application in question complies with “the rules of the national securities exchange,” prevents fraud and manipulation, and protects investors and the public interest. Feedback needs to be submitted within 21 days, after which the rebuttal period will last two weeks.
Judge allows Jump Crypto to keep Terra-related documents confidential in SEC lawsuit
A judge has granted Jump Crypto’s motion to keep certain materials confidential during the discovery phase of the U.S. Securities and Exchange Commission’s lawsuit against Terraform Labs and its founder Do Kwon.
Federal Judge Jed Rakoff filed the motion Tuesday in New York. Rakoff noted in his opinion that the ruling could be overturned if the court later decides a document needs to be released.
Jump Crypto has been accused of manipulating the price of stablecoin TerraUSD, making $1.28 billion in profits.
OSL partners with Interactive Brokers to offer digital asset trading to Hong Kong retail users
The Board of Directors of BC Technology Group Limited announced that OSL Digital Securities Limited (OSL) has significantly expanded its cooperative services with Interactive Brokers Hong Kong (Interactive Brokers). Powered by OSLs platform support, Interactive Brokers Hong Kong retail users can now trade digital assets instantly from one place. As Interactive Brokers only digital asset trading platform, OSL continues to set the industry standard for service, security and compliance.
Previously, according to news posted on LinkedIn by David Friedland, managing director of Interactive Brokers Asia Pacific, brokerage firm Interactive Brokers Hong Kong has obtained a license to trade virtual assets for retail customers in Hong Kong.
The Block Pro published an article on the X platform stating that so far, there have been various attempts to achieve Bitcoin expansion. The Lightning Network is Bitcoin’s largest scaling solution, with its TVL reaching nearly $200 million in 2023, primarily due to Bitcoin’s rising price.
Other Bitcoin scaling solutions such as DeFiChain, Rootstock, and Stacks have lower TVL than Lightning Network, likely due to security trade-offs as they only inherit part of Bitcoin’s security.
According to CoinGecko statistics, there are currently only 8 countries in the world that provide spot Bitcoin ETFs. The country with the largest number of such ETFs is Canada: there are 7 spot Bitcoin ETFs with total assets of US$2 billion.
Project News
Chainlink upgrades the pledge mechanism, and the pledge pool size reaches 45 million LINK
The decentralized computing protocol Chainlink upgraded its native Stake mechanism and launched Chainlink Stake v 0.2, expanding the size of the pledge pool to 45 million LINK.
A nine-day priority migration period will be conducted to allow existing v 0.1 stakers to transition their staked LINK and rewards to the new version.
According to a statement, access will be extended to other participants through the early access and general access phases starting on December 7 and December 11 in the US East, respectively, enabling users to stake up to 15,000 LINK.
TokenFi issued a document on the X platform stating that it plans to launch the TokenFi RWA Tokenization Module (tokenization module) to realize the tokenization of non-securities assets. The team is currently in discussions with Chainlink and other key partners to leverage their technology to power this tokenized module.
For Chainlink, TokenFi will use Chainlink PoR and Chainlink Cross-Chain Interoperability Protocol (CCIP) to power its RWA tokenization module.
Circle cross-chain transmission protocol CCTP has been launched on Noble mainnet
Stablecoin developer Circle announced on the X platform that the Cross-Chain Transfer Protocol (CCTP) is now online on the mainnet of the Cosmos ecological application chain Noble. The Cosmos application chain can combine CCTP and IBC functions, and users of Ethereum and other supported networks can enter the Cosmos ecosystem. The combination of CCTP and IBC will embody programmatic, 1:1 cross-chain transfer and zero slippage functions.
According to official news, Nansen 2 has entered the public testing phase. New features include faster loading speed, personalized experience functions, on-chain data changes, smart search, and filtering, grouping and tracking of specific wallets. In addition, Nansen 2 is developing more new features.
It is reported that Nansen 2 is driven by artificial intelligence and provides faster, smarter and more intuitive data analysis.
Upbit operator Dunamu’s Q3 operating profit exceeded US$78 million, a year-on-year decrease of 39.6%
According to the Electronic Disclosure System of the Korea Financial Supervisory Service on the 28th, Upbit operator Dunamu’s operating profit in the third quarter was 101.8 billion won (approximately US$78.58 million), a decrease of 39.6% compared with the same period last year (168.7 billion won). Operating income (sales) in the third quarter of this year was 193 billion won ($149 million), down 29% from 271.9 billion won in the same period last year. Net income also fell 81.6% year-over-year to 29.5 billion won (approximately $23 million).
According to analysis, continued interest rate hikes and a downturn in the investment market caused by the economic recession had a negative impact on Dunamus third-quarter performance, while the decline in net profit was mainly due to valuation losses caused by the decline in virtual asset prices from the previous quarter.
Dogecoin (DOGE) adoption continues to grow. According to data tracked by on-chain analytics company IntoTheBlock, the number of addresses holding DOGE exceeded 5 million for the first time.
At the same time, the number of active addresses on the network more than doubled to 168,000, the highest level since March 2022. Additionally, the number of confirmed transactions on the Dogecoin chain jumped to its highest level since June, growing by 1,000% in the past 10 days.
However, it is worth mentioning that according to data from BitInfoCharts, less than 5,000 addresses control more than 80% of the DOGE supply, which means that relatively few traders can control the price of the currency.
Crypto quantification company Kronos Research sent a message to the hackers, saying it acknowledged the complexity of the situation and was prepared to find a solution through negotiations, offering a 10% bounty on the stolen funds, with the remaining 90% to be returned. If the hacker complies, Kronos Research ceases further pursuit. This offer is valid until November 30, 08:00 UTC.
Previously, Kronos Research lost 13,007 ETH, worth approximately $26 million, in the attack and stated that all user losses would be borne internally.
Amazon Cloud integrates Polygon PoS with AMB Access
Polygon Labs officially announced on the X platform that Amazon Cloud will make it easier for builders to develop and launch dApps by adding Polygon PoS to Amazon Managed Blockchain (AMB) Access. AMB Access Polygon provides instant serverless access to the Polygon PoS mainnet and public preview Mumbai testnet without the need for specialized blockchain infrastructure. (Access is free during public preview, but standard AWS data transfer charges still apply)
Animoca Brands plans to purchase EDU tokens from the open market
Animoca Brands officially posted on the X platform that it will purchase additional EDU tokens from the open market. We believe that EDU, along with the work of OpenCampus and partners, has huge potential to inspire the creation of educational content and advance the use of blockchain technology among educators.
global policy
Global regulator the Financial Stability Board (FSB) said in a report on Tuesday that more measures may be needed to prevent complex crypto companies like FTX from collapsing and destabilizing the wider financial system. The turmoil in the crypto market when FTX collapsed last year highlighted the vulnerabilities that “multipurpose” crypto firms that combine trading and other activities can exacerbate, similar to those in traditional finance, including leverage, liquidity mismatches, and technical and operational vulnerabilities.
These vulnerabilities were further amplified by a lack of effective controls and operational transparency, inadequate or no disclosures and conflicts of interest, the report said. There is evidence that the threats to wider financial stability and the economy are currently limited.
Chief Executive of the Hong Kong Special Administrative Region Johnnie Lee responded to the virtual platform supervision fraud. He said that government supervision is very important to protect the interests of investors and at the same time crack down on unlicensed platforms. If it is necessary to provide power to regulatory agencies, the government will actively cooperate. In addition, when investors conduct virtual asset transactions online, they must use a licensed trading platform to protect the interests of investors.
The Hong Kong Securities and Futures Commission specifically reminds investors that all entities on the list of applicants for virtual asset trading platforms have not been licensed by the Hong Kong Securities and Futures Commission and may not comply with the requirements of the Hong Kong Securities and Futures Commission. The Hong Kong Securities and Futures Commission also reminds virtual asset platforms that plan to apply for a license from it to submit a complete application and other required materials and documents, including external evaluation reports. Applications that fail to meet the criteria will be returned by the SFC.
Currently, the Hong Kong Securities and Futures Commission website has listed 9 suspicious virtual currency investment platforms. They are HOUNAX, JPEX, Hong Kong Digital Research Institute, BitCuped, FUBT, futubit/futu-pro, EFSPD, OSL trading, and arrano.network.
Investment and Financing
Web3 video streaming platform Rad completes new round of financing, led by Ayre Ventures
Web3 video streaming platform Rad has completed a new round of financing, led by Ayre Ventures. The specific financing amount has not yet been disclosed. Rad also announced that it has incorporated the use of the BSV blockchain into its transactional video on demand (TVOD) and open or limited edition NFT video publishing and purchasing processes. Additionally, Rad integrates with mobile and web wallet HandCash, allowing users to connect to apps, games and websites to stream funds directly to help facilitate payments. Users can create and purchase content on Rad without the need for browser plug-ins, and the company can expand to other payment forms.
Currently, Rad supports PlayStation 5, PSVR, Oculus Quest, iOS, Google TV and other devices.
Web3 venture capital institution AC Capital announced that it is launching a new US$20 million fund. The strategic investment focus of the fund will be BTC ecological asset investment, non-EVM Layer 1 applications, chain-independent liquidity layers, and user-friendly encryption interface solutions. programs and other fields.
Web3 consumer application Setter completes $5 million in seed round led by a16z
Web3 consumer application Setter has completed a $5 million seed round led by Andreessen Horowitz (a16z), with participation from Marcy Ventures Partners, Superlayer, Thirty Five Ventures and retired tennis superstar Serena Williams. The app plans to help brands innovate ways to promote exclusive products and provide customers with limited-edition products.
It is reported that Setter aims to solve the complexity and unfriendly nature of current wallet technology and provide more users with a more seamless Web3 experience. Setters initial focus is on partnerships with streetwear and sneaker brands with the goal of expanding into the fashion, luxury and consumer collectibles sectors.
Perpetual contract exchange MYX completed a US$5 million seed round of financing, led by HongShan
MYX, a decentralized perpetual contract exchange incubated by D 11 Labs, announced the completion of a US$5 million seed round of financing at a valuation of US$50 million. This round of financing was led by HongShan (formerly Sequoia China) and included Consensys, Hack VC, and OKX Ventures , Foresight Ventures, Redpoint China, HashKey Capital, GSR Markets, Alti 5, Leland Ventures, Cypher Capital, Bing Ventures, Lecca Ventures, etc. participated in the investment. The funds raised in this round will be used to accelerate MYX’s technological innovation and market expansion, and promote the rapid launch and large-scale development of its mainnet products.
Animoca Brands announced that it has made a strategic investment in the TON ecosystem and become the largest validator of the TON blockchain, and will provide funding, research and analysis platforms for third-party TON ecosystem mini-applications. TON Play, a TON-based game infrastructure project, provides the infrastructure and solutions needed to launch new game projects on TON and enables Animoca Brands’ portfolio of more than 400 Web3 projects to be smoothly ported directly to Telegram.
Web3 entertainment company AnotherBall completed a $12.7 million seed round of financing, led by ANRI and Hashed, with participation from Global Brain, Globis Capital Partners, Sfermion, HashKey Capital, Everyrealm, Ethereal Ventures, Emoote and Crunchyroll founder Kun Gao. This brings the company’s total funding to $14.8 million.
It is reported that AnotherBall has been actively participating in technology projects such as Ailis and SAI by IZUMO. AnotherBall is currently developing a platform designed to enable global creators to connect with fans and monetize their content. A beta version of the platform is planned for Q1 2024 (January-March), with a full public launch expected later this year.
Wind, a Singaporean remittance company based on the Polygon blockchain, announced the completion of a US$3.8 million Pre-Seed round of financing, led by Global Founders Capital and Spartan Group, with participation from Saison Capital, Alumni Ventures and Tiny VC.
According to reports, Wind is a non-custodial wallet, which means that the company does not hold customer funds and allows users to manage their own assets. It charges less than 0.3% of the value of users’ transactions. Since its inception in 2022, Wind has closed nearly $3 million in transactions. In September, it also received a grant from the XRP Ledger accelerator program launched by Tenity and Ripple.
Character *Voice
Billionaire Charlie Munger, Warren Buffetts deputy, died on Tuesday at the age of 99.
Munger died Tuesday, according to a Berkshire Hathaway news release. The group said Munger passed away peacefully this morning at a hospital in California, as notified by family members. He would have celebrated his 100th birthday on New Years Day.
Berkshire Hathaway would not be where it is now without Charlies inspiration, wisdom and involvement, Buffett said in a statement.
Pudgy Penguins CEO: I really regret buying a Rolls-Royce Cullinan
Pudgy Penguins CEO Luca Netz said in a recent interview that while he has never spent as lavishly as other wealthy people, he did admit to buying a Rolls-Royce Cullinan.
Netz said: The Rolls-Royce Cullinan is the last thing I should have bought and I regret it, it is easily the worst car I have ever owned. On paper it is a great car . But it was big and bulky—I called it an oil rig. It had no gadgets and few features. It had no use other than a nice orange interior.
When asked if he planned to sell it, he joked: It will always be an oil rig on my front lawn in case one day we find a mine and I need to start drilling for oil. Maybe that thing can be sent Come in handy.
Arthur Hayes: Will continue to move funds from short-term U.S. Treasury bonds into cryptocurrencies
According to Lookonchain statistics, BitMEX co-founder Arthur Hayes issued a statement stating that he will continue to transfer funds from U.S. short-term Treasury bonds to cryptocurrencies. On February 7, Arthur Hayes announced that he would raise cash and buy Bitcoin. Since then, he has published many bullish Bitcoin articles, with a total of 7 articles published as of today.
Managing Partner of Spartan Group: Short position information was leaked by a large crypto exchange
Kelvin Koh, managing partner of Spartan Group, posted on the He said the verification violated customer confidentiality of customer information. Therefore they will cease trading activities on this exchange.
Kelvin Koh said that what is even more shocking about this incident is the ease with which this information was shared. If any employee of the exchange can access customer trading positions and share them with random parties, it shows that the exchange is not taking appropriate measures. control measures. Moreover, the exchange is one of the largest centralized exchanges, and he called for stricter supervision of centralized exchanges.
