headlines
The Starknet Foundation plans to distribute 1.8 billion tokens as user rewards and transaction incentives, and a dedicated committee Supply Committee will be responsible for rewarding users. The committee will distribute 900 million STRK tokens in phases to reward users and community members for past and future contributions, with specific details still being worked out.
US SEC: Will continue to advance lawsuit against Binance
The U.S. SEC said Binance Holdings Ltd. recently reached a $4.3 billion settlement with the Department of Justice and other U.S. authorities, bolstering its lawsuit against the exchange. Binance’s settlement with the U.S. government ends years of investigations by various departments of the Justice Department, Treasury Department, and the CFTC, although the agreement does not include the SEC, which sued Binance and CZ in June. (Bloomberg)
Yu Xian, the founder of Slow Mist, posted on the We don’t pay much attention to this thing...but maybe those involved in the Bitcoin ecosystem will pay attention to this, after all, the CVE number is one of the most well-known vulnerability proofs in the security industry.”
Market changes
A whale deposited 1,449 BTC to Binance
A certain BTC whale (address starting with 37 BnFfK) deposited 1,449 BTC (approximately $62.9 million) to Binance. The whale still holds 1,455 BTC (approximately $63.16 million) and is expected to make a total profit of $65 million. The last time the whale sold BTC was on April 16, at the height of Bitcoin’s price.
In the past 30 days, Tether has issued a net USD 3.98 billion USDT on Ethereum and Tron chains.
Over the past 30 days, Tether has issued a net $3.98 billion in USDT tokens on the Ethereum and Tron chains. This means that an average of approximately $132 million in tokens are issued each day, with close to $200 million in tokens issued each business day.
Open interest on the Deribit platform reaches $25.8 billion, a record high
The notional value of options open interest on Deribit hit an all-time high, with Bitcoin options open interest at $16 billion and Ethereum options open interest at $7.6 billion, for a total of $23.6 billion. Combined with $2.2 billion in open interest in perpetual contracts and futures, open interest on the Deribit platform surpassed $25 billion for the first time and now totals $25.8 billion.
Inscription #8 sold for 10.4 BTC, setting the highest sales record among Ordinals
MagicEden sales data shows that a user named TheOG_General has spent 10.4 BTC (approximately $451,000) to purchase Inscription #8, setting a record for the highest sales among Ordinals.
According to Spot On Chain monitoring, FTX and Alameda Research have deposited a total of 74 tokens worth approximately $591 million to the exchange since October 24.
Ethereum L2 TVL is US$16.03 billion, Immutable X TVL increased by 32.44% in 7 days
L2B EAT data shows that the current total lock-up volume (TVL) of the Ethereum Layer 2 network is US$16.03 billion, with a 7-day increase of 7.43%. The top five locked positions are: Arbitrum One (USD 8.48 billion, a 7-day increase of 6.1%); OP Mainnet (USD 4.41 billion, a 7-day increase of 9.3%); Base (USD 648 million, a 7-day increase of 4.91%); zkSync Era (USD 593 million, a 7-day increase of 13.72%); dYdX V3 (USD 360 million, a 7-day increase of 6.05%). In addition, the locked position of Immutable
Ordinals’ cumulative fee income exceeds 3,400 BTC, worth over $150 million
Dune data shows that the cumulative fee revenue from minting of the Bitcoin NFT protocol Ordinals reached 3,433.3648 BTC, which is approximately $152,000,992. In addition, the current total number of minted inscriptions reaches 46, 684, 094.
NFT sales in the first week of December were $316 million, up 57% from the previous month
Following a strong increase in NFT sales in November, the first week of December continued the trend, with approximately $316 million in sales, a 57% increase from the previous week, according to CryptoSlam.
According to Defillama data, Solana network TVL rose to US$902 million, and TVL of multiple protocols in the Solana ecosystem experienced significant growth. Among them: MarinadeFinanceTVL reached US$761 million, a weekly increase of 23.69%; marginfiTVL reached US$232 million, a weekly increase of 54.95%; OrcaTVL reached US$106 million, a weekly increase of 23.86%.
According to data from CoinGecko, the market capitalization of meme coins has exceeded $24 billion, an increase of $6.9 billion from nearly $17.1 billion about a month ago. In addition, BONKs market value is approaching US$700 million, surpassing PEPE and ranking among the top three in this sector.
ETF Progress
SEC meets with Fidelity to discuss spot Bitcoin ETF creation and redemption mechanisms
The SEC has met with Fidelity regarding a spot Bitcoin ETF to discuss physical creation and redemption mechanisms. Fidelity provided regulators with a presentation titled “Bitcoin ETF Workflow,” detailing slides on the “in-kind” creation and redemption model.
The presentation states: “With physical creation, arbitrage and hedging are more efficient, and self-clearing ETF market-making firms can serve as proxy APs for non-self-clearing ETF market-making firms with cryptocurrency affiliates, facilitating efficient arbitrage. Allowing physical creation and Redemptions are critical to improving transaction efficiency and secondary market pricing for all participants.”
VanEck Files S-1 Prospectus for Bitcoin Spot ETF with SEC
Bloomberg ETF analyst James Seyffart posted on the X platform that VanEck has submitted the S-1 prospectus for a Bitcoin spot ETF to the U.S. SEC.
Pando Asset updates its spot Bitcoin ETF Form S1 with SEC
Pando Asset has filed an updated version of its Spot Bitcoin ETF Form S-1 with the SEC, according to a public filing.
Industry news
Binance has released its December asset reserve certificate, with all asset coverage exceeding 100%
Binance has released its Merkle Tree Asset Reserve Proof for December (snapshot dated December 1), proving that it has funds covering all user assets at a 1:1 ratio. Among them: the net balance of BTC user assets is 561,003.305 pieces, and the net balance of the Binance platform is 584,373.768 pieces, with a coverage rate of 104.17%; the net balance of ETH user assets is 3,889,966.666 pieces, and the net balance of the Binance platform is 4,145 pieces. , 228.847 pieces, with a coverage rate of 106.56%; the net balance of BNB user assets is 30,986,758.764 pieces, and the net balance of the Binance platform is 33,813,380.992 pieces, with a coverage rate of 109.12%; the net balance of USDT user assets is 16,136 , 534,065.42 pieces, the net balance of the Binance platform is 19, 240, 114, 354.151 pieces, with a coverage rate of 119.23%.
2024 US Defense Bill Removes Cryptocurrency-Related Provisions
U.S. lawmakers have removed cryptocurrency provisions from the 2024 National Defense Authorization Act, which is heading for a final vote. The bill is almost certain to be approved but will not create new regulations on cryptocurrencies. Previously, negotiators stripped away the encryption language to ease passage in both chambers. (CryptoSlate)
A wallet holding 3.5 million USDT is blacklisted or may be related to North Korean hackers
According to X user Spreek, a wallet address that holds 3.5 million USDT and has conducted hundreds of transactions has been blacklisted in the past few days. On-chain detective ZachXBT commented that this wallet looks like an OTC exchange or service. They recently received a USDT from Thorchain and also received funds from the Stake hack, which was indeed linked to North Korean hackers.
The Indian government recently answered some questions about Web3 in the Lok Sabha, the lower house of the Indian Parliament. An MP asked Ministry of Electronics and Information Technology (Meity) Minister Rajeev Chandrasekhar: “Will the government support startups innovating in the Web3 space in the form of incubation or mentoring?” The latter noted that blockchain is “an important component of Web3. part.
Project News
Solana Labs: The future of Solana phones is unclear
Solana co-founder Anatoly Yakovenko recently said in a podcast that the future of the Saga Phone released by Solana is unclear due to disappointing sales and changing market dynamics. He also said that he does not use his Solana Saga phone as his primary device. I switch between this phone and my iPhone because I have so many business apps and contacts that its hard for me to support all the security certificates and most of the stuff is tied to my iPhone. (Coindesk)
MetaMask announced cooperation with payment platforms in six countries on the MetaMask also stated that its wallet service currently supports local transfers in four countries: Vietnam, Malaysia, Japan and South Korea. Users in relevant countries can use it on the MetaMask mobile application, browser extension or directly on MetaMask Portfolio.
Pudgy Penguins Community Security Leader: No tokens will be issued in the short term
Beau, Pudgy Penguins’ community security lead, responded to rumors on X that “Pudgy Penguins is about to launch a token” and said that there will be no tokens in the short term.
The Arbitrum community voted to approve the proposal to extend the incentive distribution deadline for STIP and BackFund projects. Under this proposal, the deadline for protocols within STIP to distribute ARB tokens to users can be extended to March 1, 2024, while protocols within the BackFund program can continue liquidity support until March 15, 2024 for token distribution The deadline can be extended to March 29, 2024.
Frax founder: The possibility of airdrops is not completely ruled out
According to screenshots of community messages disclosed by Ouroboros Capital on the X posts.
Linea launches Voyage Wave 7, running until December 16
Linea announced the launch of Voyage: DeFi event Wave 7: Trading on the X platform. The theme is complex DeFi trading products. The event will last for 9 days and end on December 16.
UniSat will open the indexer for mining in January next year, and will use sats as an incentive
UniSat issued a document on the “Just like what happened on the Bitcoin mainnet,” UniSat said.
One of Worldcoin’s major developers plans to sell WLD to raise $50 million
Tools For Humanity, one of the major developers of Worldcoin, plans to sell WLD to raise funds. The company hopes to raise up to US$50 million. WLD may be priced at US$1, which is a large discount compared to the current market price.
Levana Protocol announced on the X platform that it will launch an airdrop of LVN tokens on December 20 and complete three airdrops within six months. The total amount of LVN is one billion, and the initial liquidity is 70 million. The airdrop is divided into three stages: 1. Family airdrop: for early users, including Levana NFT community members and Levana perpetual contracts on platforms such as Osmosis, Injective and Sei traders on; 2. Community airdrop: expanded to other community members, such as traders from Stargaze, Kujira and Astroport; 3. Final stage: for new users outside of Cosmos.
Shiba Inu Lead Developer: Important announcements about Shibarium coming soon
Shiba Inu lead developer Shytoshi Kusama said in the Telegram group Shibarium Tech that a game-changing announcement will be made soon, according to a screenshot posted by Lucie, a member of the Shiba Inu marketing team, on the X platform.
Venus Protocol issued a document on the isolated)” markets (agEUR, stkBNB) have been suspended.
According to previous news, on-chain data showed that a user deposited 0.5 BNB into Venus and then lent out a series of assets, including stkBNB, ankrBNB, etc. The user converted them into 116.45 ETH assets and then transferred them to other accounts.
Bitcoin Ordinals EVM expansion protocol Veda announces indefinite postponement
Bitcoin Ordinals EVM expansion protocol Veda announced in a social media post that the launch of the protocol will be postponed indefinitely due to force majeure, and Veda-core and Veda-bvm will be open source.
Investment and Financing
Animoca Brands NFT series Mocaverse announced the completion of a second round of financing of US$11.88 million, with participation from Block 1, OKX Ventures, Foresight Ventures, Polygon Ventures, Dapper Labs and others. So far, Mocaverse’s total financing has reached US$31.88 million. The new funds will be used to promote Mocaverse to establish a digital identity and points system for Web3 games, culture, and entertainment.
Gaming company Gacha Monsters raises $3 million in seed round led by Animoca Brands
Japanese entertainment and gaming startup Gacha Monsters has raised $3 million in a seed round led by Animoca Brands, with participation from Infinity Ventures Crypto, FBG and Big Time Games.
Digital asset brokerage company Nonco completed a $10 million seed round of financing, led by Valor Capital Group (led by former U.S. Comptroller of the Currency and former Binance.US CEO Brian Brooke) and Hack VC (an investment institution led by Dragonfly Capital founder Alex Pack) Led the investment, with participation from Morgan Creek Digital, CMCC, Lvna Capital, Theta Capital, Bullish, Bastion Trading and Libra Capital Ventures.
Digital asset exchange GFO-X completed US$30 million in Series B financing, led by MG Investments
GFO-X, a digital asset exchange authorized by the British FCA, announced the completion of a US$30 million Series B financing, led by MG Investments, and will join the board of directors of Global Futures and Options Holdings.
