Daily Legal News | Matrixport claims bullish on Bitcoin, but strict stop-loss settings required for trading; US SEC submits sealed motion against Binance.
Selected News:
1. DBS Bank plans to apply for a license to offer cryptocurrency services to its Hong Kong clients.
2. HashKey Exchange supports account opening for mainland users with Hong Kong identity cards;
3.BJ Investment Holdings announced that it will remove controversial figure Ben Armstrong from the company and Bitboy Crypto brand;
4. Matrixport: Bullish on Bitcoin, but strict stop-loss settings are required for trading;
5. The US SEC submits a motion for a seal against Binance.
Project Updates
DBS Bank plans to apply for a license to offer cryptocurrency services to its Hong Kong clients.
BlockBeats News, on August 29th, according to the 21st Century Business Herald, Pang Huayi, the chairman of DBS China, said in an interview that "DBS Bank plans to apply for a license to allow it to provide cryptocurrency services to Hong Kong customers. We hope to obtain a license to sell digital assets, but we do not intend to replicate the ecosystem we have already established in Singapore. In fact, we hope to provide opportunities for (Hong Kong) customers to purchase digital assets through DBS Hong Kong. Currently, we can purchase digital assets through DBS Singapore."
LayerZero strategic director Irene Wu confirmed attendance at the "Build For Miracle" themed summit.
LayerZero strategic director Irene Wu confirmed attendance at the "Build For Miracle" series of themed summits jointly organized by BlockBeats and MetsStone Group. Irene Wu previously worked as an investor at Insight Partners and as a user experience designer and engineer at IDEO and JPMorgan. In addition, she studied computer science at Harvard University. LayerZero is an interoperability protocol that utilizes the principle of lightweight node technology. In April of this year, LayerZero Labs completed a Series B financing round of $120 million at a valuation of $3 billion, with participation from a16z Crypto, Christie's auction house, Sequoia Capital, Samsung Next, BOND, Circle Ventures, and OpenSea Ventures.
Fabric Ventures investment partner Ian Emerson confirmed his attendance at the "Build For Miracle" series of themed summits jointly organized by BlockBeats. Since 2020, Ian has served as an investment partner at Fabric Ventures, a London-based venture capital firm, focusing on the gaming, media, and vertical consumer markets. Ian holds a Bachelor's degree in Chemistry and Management from Imperial College London and a degree from the Imperial College Business School. As a leading European Web3 fund, Fabric Ventures focuses on supporting the most ambitious founders in the Web3 space to build an open economy together. Fabric is a well-known venture capital firm in the cryptocurrency and digital fields, with a team composed of former founders who have created companies worth over $3 billion and have rich experience from companies such as Google, PayPal, and Visa.
DCG and Genesis reach preliminary agreement with creditors, expecting 70%-90% asset recovery for creditorsAccording to court documents cited by CoinDesk, DCG has reached a preliminary agreement with Genesis' creditors to resolve the claims raised in the Genesis bankruptcy case. The plan could allow unsecured creditors to receive recoveries equivalent to 70% to 90% of the US dollar value, and depending on the nominal value of digital assets, physical recoveries of 65% to 90% can be made. All estimated recovery amounts are subject to market pricing and explicit documentation constraints.
HashKey Exchange supports account opening for mainland users with Hong Kong ID cards
According to Caixin, mainland users with Hong Kong identity cards are eligible to open an account on HashKey Exchange if they provide proof of their Hong Kong residence and bank account information. The platform will detect IP addresses and VPN usage, and compliant users holding Hong Kong permanent residency cards will be monitored if they conduct transactions within mainland China.Founder of friend.tech, Racer, issued an apology statement on the official Twitter account, admitting that his previous statement about restricting users from using clone and counterfeit versions of the app was made out of "fear" and "zero-sum thinking". Racer said: "I'm sorry. Fear made me tell you not to use other products, which was foolish." He also emphasized that this practice goes against the culture of encryption and finally urged everyone to "live the way you want", apologizing for the previous decision to cancel the points of users who switched to clone and counterfeit versions of the app.
BJ Investment Holdings, the parent company of Hit Network, announced that controversial figure Ben Armstrong has been removed from the company and the Bitboy Crypto brand. The company stated: "This difficult decision is the culmination of our long-standing efforts to help Ben overcome his drug abuse relapse and to make amends for the emotional, physical, and financial harm he caused to Hit Network employees and the Bitboy Crypto community."
SBF appeals against imprisonment for alleged witness tampering
According to Reuters, FTX founder SBF has appealed the decision to be jailed for allegedly tampering with witnesses. In a filing submitted to the US Federal Second Circuit Court of Appeals late last Friday, SBF's lawyer argued that SBF was merely exercising his First Amendment rights by sharing the work of his former colleague and lover Caroline Ellison with a New York Times reporter to defend his reputation, rather than to intimidate. Prosecutors claimed that SBF published these works to harass Ellison and prevent others from testifying.
Viewpoint
Matrixport: Bullish on Bitcoin, Strict Stop Loss Setting Required for Trading
According to CoinDesk, Matrixport, a Singapore-based cryptocurrency financial services company owned by Wu Jihan, has turned cautiously bullish on Bitcoin. Markus Thielen, Matrixport's head of research and strategy, recently stated that "cryptocurrency traders can hold long positions in Bitcoin and set stop losses below $25,800. By setting strict stop loss levels, we are bullish on Bitcoin and expect bond yields to decline while US tech stocks rise. We expect a 10% pullback by the end of the summer, which we have already achieved and have taken appropriate risk management measures. Traders can try to go long again."
DWF Labs leader: 2 million CRV transferred from Binance to the chain
DWF Labs leader Andrei Grachev posted that "Just transferred 2 million CRV from Binance to our on-chain wallet for some fund management. Maybe we will transfer CRV back to Binance in the future, and we will notify in time."
friend.tech "Keys" price ranking: Crypto trader L ranks first with 2.809 ETH
friend.tech "Keys" price ranking latest data shows: · Encryption trader L ranks first with 2.809 ETH; · Platform founder Racer ranks second with 2.626 ETH; · Encryption KOL Hsaka ranks third with 1.914 ETH; · Encryption trader Ansem and NDV co-founder Christian2022.mid rank fourth with 1.58 ETH.
HashKey Exchange has traded over $700,000 in the past 24 hours.
CoinGecko data shows that since HashKey Exchange opened BTC/USD and ETH/USD trading pairs to retail investors yesterday, the 24-hour trading volume has exceeded $700,000.
MakerDAO founder Rune purchased over $400,000 worth of MKR in the past 4 days
MakerDAO founder Rune Christensen exchanged 215,000 DAI for 211.61 MKR 7 hours ago. Over the past 4 days, he has purchased a total of 409.06 MKR at an average price of $1015 (totaling $415,000).
A certain whale transferred 2 million SNX to Coinbase 7 hours ago, worth about $4.17 million.
According to on-chain analyst Yu Jin's monitoring, a certain whale transferred 2 million SNX (about $4.17 million) to Coinbase 7 hours ago. It had previously transferred 575,000 SNX (about $1.23 million) to Coinbase 7 days ago and withdrew 1.23 million USDC from Coinbase 2 days later. The whale currently holds 3.07 million SNX (about $6.41 million) in Synthetix.Bitcoin volatility index rose to 38.72 yesterday, up 2.27% for the day.
The BitVol (Bitcoin Volatility) index, launched by financial index company T3 Index in collaboration with Bitcoin options trading platform LedgerX, rose to 38.72 yesterday, an increase of 2.27% compared to August 27th.
According to on-chain analyst Yu Jin's monitoring, a whale made a leveraged long position on ETH 3 hours ago. The whale first exchanged 11,000 ETH (approximately $18.18 million) for 9671 wstETH, then mortgaged the wstETH to borrow 5.5 million USDT and 170 WBTC (approximately $4.44 million). Finally, the borrowed USDT and WBTC were exchanged for 5256 wstETH (approximately $9.9 million).
The Open Exchange (OPNX), a platform for encrypted claims and trading, announced that the function of exchanging FLEX for OX has been terminated today. During the token migration period, over 35 million FLEX tokens were exchanged for OX by users, accounting for approximately 36% of the FLEX supply, while 3.89 billion OX tokens were issued. The maximum supply of OX is 9.86 billion, and the remaining 5.97 billion OX tokens will be minted and stored in a custody contract. The custody of OX will be controlled by The Herd and voteOX holders to decentralize decision-making on how to use the remaining OX and promote OPNX growth.
Regulation
The US SEC submits a sealed motion against Binance
The U.S. Securities and Exchange Commission (SEC) has submitted a sealed motion to the District Court of Columbia, requesting the court to allow it to submit certain sealed documents. Although the specific contents of the documents have not been disclosed, this may indicate that the SEC is preparing to further disclose its allegations and evidence against Binance.
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