Daily Legal News: CZ claims that Bitcoin has reached multiple historical highs within a year after halving; Sisyphus identity suspected to be Kevin Pawlak, the head of OpenSea's investment department.
Selected News:
1. Web3 Metaverse platform ZepetoX will launch ZTX token on October 16th, with a total supply of 10 billion.
2. Ripple CTO calls on the community to reach consensus on adopting XRPL AMM functionality;
3. Sisyphus's identity was exposed, suspected to be Kevin Pawlak, the OpenSea venture capital executive;
4. CZ shared his experience with Bitcoin halving: the coin price hit multiple historical highs within a year after the halving;
5. The total size of the Federal Reserve's balance sheet fell below the $8 trillion mark.
Project Updates
South Korean internet giant Naver's metaverse platform Zepeto, in collaboration with Jump Crypto, announced that the ZepetoX metaverse project's ZTX token airdrop and release date will be on October 16, with a fixed total supply of 10,000,000,000 tokens. The ZTX token can be used for community governance, purchasing in-game assets, and advancing players' progress in the game. Additionally, the platform will drive the value of the ZTX ecosystem through a token buyback plan, including token burning (reducing total supply), providing rewards for players (incentive pool), and allocating some funds to the treasury.
Friend.tech, an imitation platform of Stars Arena, has announced that it has partnered with blockchain security experts Paladin Blockchain Security and the Locrian team to further enhance the platform's security infrastructure and strengthen the team's technical and security capabilities.
Previously, Stars Arena announced that funds have been transferred from the original fee wallet to the new Gnosis Safe multi-signature wallet, which requires 3/6 signatures and is controlled by all members of the Stars Arena team.
Ripple CTO calls on community to reach consensus on XRPL AMM functionality
Ripple's Chief Technology Officer, David Schwartz, has called on the community to reach a consensus on the adoption of the XRP Ledger (XRPL) AMM feature, particularly urging XRPL validators to vote in support. He stated that if the majority of validators support the amendment, it will be implemented within two weeks, but currently no validators are participating in the vote.
Bitcoin halving is expected to occur on April 25, 2024, with less than 200 days remaining.
According to the Bitcoinblockhalf website, the current block height is less than 200 days away from the Bitcoin halving time. The halving time is expected to be on April 25, 2024, at which point the block reward will be reduced from 6.25 BTC to 3.125 BTC.According to information from the Maimai community, a professional social networking platform, it is suspected that Bitmain employees have reported salary arrears due to cash flow problems, and the year-end bonus for 2022 has not yet been issued. In September, the basic salary of all employees was either deducted by half or the performance salary was fully deducted. According to Wu Shuo Blockchain News, multiple Bitmain employees have confirmed that on October 3, Bitmain issued a notice stating that the company's operating cash flow in September has not yet turned positive, especially the progress of the department's mining machines entering the mining field is seriously below standard. EMT has decided to temporarily suspend the payment of part of the September salary for all employees, and will consider issuing it after the holiday on October 7, depending on the situation. Bitmain has just held a conference in Hong Kong and released its latest S21 mining machine.
According to Bitcoinist, Michael Lewis, the author of "The Big Short", claimed in an interview that NBA star Stephen Curry worked 20 hours a year for 3 years and received a compensation of $35 million to promote FTX. During an interview promoting his new book about FTX founder SBF, Lewis said he was fortunate to have met with the former CEO over 100 times.
During his meeting with SBF, he reviewed some internal FTX documents that showed details of celebrities partnering with the cryptocurrency company. This is how he learned about the partnership agreement between Curry and FTX. "He paid Tom Brady $55 million for 20 hours a year over three years. He paid Stephen Curry $35 million over three years on the same terms." SBF also paid several other celebrities millions of dollars to promote FTX, including a Super Bowl ad.
Sisyphus identity exposed, suspected to be Kevin Pawlak, the OpenSea investment director
NFT Ethics revealed on social media that Sisyphus' true identity is Kevin Pawlak, a venture capitalist at OpenSea. Sisyphus has been involved in various suspicious business transactions, such as Anubis, and price manipulation.
Sisyphus also attempted to influence OpenSea's decisions using a personal account, and had communicated with Alameda Research to tell them to buy Anubis (ANKH). NFT Ethics investigated that Sisyphus&Co had premeditated the Rug Pull in the Anubis incident, and subsequently laundered money through PEPE.
BlockBeats previously reported that on October 29, 2021, meme+OHM clone Anubis withdrew liquidity one day after going online, resulting in a loss of 13,256 ETH.
Shen County, Liaocheng, Shandong Province, public security cracked down on a virtual currency pyramid scheme, arrested 6 pyramid scheme leaders and core members, and recovered more than 10 million yuan in illegal gains. In 2022, police officers from Shen County Public Security Bureau found virtual currency pyramid scheme activities on BSC during network inspections. After repeated analysis and in-depth investigations, the project used "token pocket" wallet and smart contracts to release decentralized (no personnel registration information) encrypted currencies DCS and CAR, which were used to lure participants with high returns, encourage members to speculate on the prices of DCS and CAR, and recruit new members, which is suspected of being a pyramid scheme. The special task force used various measures and information technology to successfully identify the organizers, project promoters, and back-end maintainers of the pyramid scheme.
HTX offers a white hat bounty of 250ETH worth $410,000 to attackers
According to ZachXBT's monitoring, HTX has sent 250 ETH worth $410,000 as a white hat bounty to the HTX Global attacker, with a message saying, "You made the right decision. Please submit a security vulnerability analysis report via email so that we can avoid similar incidents in the future. Your privacy will be protected." Previously, on October 7th, according to Lookonchain's monitoring, the hacker who attacked HTX returned 4,999 ETH (approximately $8.2 million) of stolen funds.
Viewpoint
CZ posted on Binance Square that Binance has added a Bitcoin halving countdown display on its homepage. In addition, CZ also shared his experience with the past three Bitcoin halvings. "In the months leading up to the Bitcoin halving (starting now), there will be more and more rumors, news, anxiety, expectations, hype, and hope. And in the year after the halving, the Bitcoin price has repeatedly reached new historical highs." CZ also added, "This does not mean that there is a definite causal relationship, and history cannot predict the future."
OpenAI founder Sam Altman: A global currency not controlled by any government is necessary
During his appearance on Joe Rogan's podcast, OpenAI founder Sam Altman expressed his belief that Bitcoin has the potential to become a universal currency and stated that "having a global currency that is not controlled by any government is a logical and important step in the technology tree."
Starknet Community MOD: Starknet team and members are currently safe
Due to recent international events, members of the Starknet community have expressed concerns about the team's situation. In response, Starknet community administrator Wind Rider stated that the Starknet team and its members are currently safe. StarkWare, the parent company of the Ethereum Layer2 scaling solution Starknet, was established in 2018 and is headquartered in Israel.
Data
Data: Over 10,000 bitcoins flowed out of CEX, marking the largest monthly outflow this year
According to the on-chain analysis platform Santiment, data shows that since September 7th, more than 10,000 bitcoins have flowed out of CEX, which is the largest outflow in a single month this year. At the same time, the unique address of Bitcoin has also fallen to its lowest point in six weeks.
Data: TVL on Base Network increased by over 25% in the past week, mainly from native USDC minting.According to L2BEAT data, the TVL of Base Network has increased by 25.16% in the past week, reaching 557 million US dollars. The value of native asset minting has increased by 467.32%, with USDC being the main native asset on Base Network, currently issued at 159 million US dollars.
This week's unlocked data overview: Aptos will unlock a value of over $20 million APT
According to Token Unlocks data, GLMR, 1INCH, APT, EUL, SWEAT, and CYBER tokens will experience a one-time large-scale unlock this week.On October 9th at 7:48, X2Y2 unlocked 12.5 million X2Y2 tokens (approximately $220,000) which accounts for 4.05% of the circulating supply.
On October 11th at 8:00, Moonbeam will unlock 9.68 million GLMR (approximately $2.05 million), accounting for 1.29% of the circulating supply.
On October 11th at 20:00, 1inch will unlock approximately 210,000 1INCH tokens (approximately $55,000 USD), which accounts for 0.02% of the circulating supply.On October 12th at 8:00, Aptos will unlock 4.54 million APT (approximately $23.63 million), accounting for 1.9% of the circulating supply.
On October 12th at 9:10, Euler token will unlock approximately 150,000 EUL (about $390,000), accounting for 0.8% of the circulating supply.
On October 13th at 8:00, Sweat Economy will unlock approximately 227 million SWEAT tokens (approximately $2.29 million USD), accounting for 2.95% of the circulating supply.
On October 15th at 8:00, CyberConnect will unlock 1.26 million CYBER tokens (approximately $6.24 million), accounting for 11.43% of the circulating supply.
According to Lookonchain's monitoring, the suspected Upbit wallet has accumulated 4.71 million BNT (approximately $2.54 million) in the past 11 hours, accounting for 3.3% of the total supply.
Ordinals inscription casting volume exceeds 35 million, transaction fees exceed 2000 BTC
According to Dune data, the total number of Ordinals inscriptions minted by the Bitcoin NFT protocol has exceeded 35 million, reaching 35,274,213. The current total transaction fee is 2,121.1597 BTC (approximately $59,385,414 USD).
Data: Reddit Collectible Avatar NFT series holders exceed 20 millionAccording to Dune data, the number of holders of the Collectible Avatar NFT series under Reddit has exceeded 20 million, reaching 20,135,117 as of the time of writing. The total minting volume is close to 25 million, and the market value has returned to over $100 million, currently around $105,022,965, with total sales exceeding $41 million.
DWF Labs deposited 24.06 million ORBS into Bithumb today.
According to The Data Nerd's monitoring, ORBS rose by 42% today. When DWF Labs deposited the token into CEX, the price quickly rose, but not all situations were like this.
ORBS currently accounts for the largest proportion in the DWF Labs product portfolio, with 150 million tokens (approximately $4.98 million) minted in 2018. Today, DWF Labs deposited 24.06 million ORBS (approximately $776,800) into Bithumb at an average price of $0.031 per token, which were extracted from Upbit three months ago at an average price of $0.22 per token. In addition, between March 15 and May 29, they deposited a total of 193.9 million ORBS (approximately $5.85 million) into Upbit and Bithumb at an average price of $0.03 per token. Subsequently, the price of ORBS fell 27% from $0.033 to $0.026. Between May 9 and June 21, they deposited a total of 20.5 million ORBS (approximately $549,000) into Upbit at an average price of $0.0267 per token.
Later, the ORBS price fell by 29%, dropping from $0.027 to $0.021. Meanwhile, ORBS surged by over 40% in just one day. Another noteworthy point is that Upbit is currently one of the top three holders of ORBS, owning 1.63 billion ORBS (approximately $49.8 million), which accounts for 16% of the total supply.
Early BNB holders deposit 7,005 BNB into Binance, worth approximately $1.48 million
According to Lookonchain monitoring, early BNB holders deposited another 7,005 BNB (approximately $1.48 million) into Binance today. The profit on this address from BNB exceeds $54 million, and there are currently 5,447 BNB left (approximately $1.15 million). From August 2017 to February 2018, the whale withdrew a total of 505,990 BNB (approximately $1.8 million at the time) from Binance through multiple addresses at an average price of $3.6. Then, after the rise of BNB, the whale deposited 500,543 BNB (approximately $56 million) into Binance at an average price of $112.
The gas fee on the Ethereum network has dropped to 5 gwei.
According to Etherscan data, the current gas fee on the Ethereum network has dropped to 5 gwei.
In the past month, 5 addresses have withdrawn a total of 46.48 million STORJ from CEX.
According to Lookonchain's monitoring, in the past month, 4 new wallets have withdrawn a total of 40.59 million STORJ (approximately $19.72 million, accounting for 9.55% of the total supply) from trading platforms. The price of STORJ has increased by over 100% in the past month. The 0x33 address withdrew 25.57 million STORJ (approximately $12.42 million) from Binance and OKX from September 15th to September 19th; the 0xdF address withdrew 5.68 million STORJ (approximately $2.76 million) from Binance today; the 0x79 address withdrew 5.35 million STORJ (approximately $2.60 million) from Binance on September 19th; and the 0x97 address withdrew 3.98 million STORJ (approximately $1.94 million) from Binance on September 19th. As of the time of writing, another wallet address has withdrawn 5.89 million STORJ (approximately $2.84 million) from Binance.Regulation
The total size of the Federal Reserve's balance sheet falls below the $8 trillion mark
According to data from the official website of the Federal Reserve, as of October 3rd, the size of the Federal Reserve's balance sheet was $7.955 trillion, a decrease of approximately $46.2 billion from the previous week's $8.002 trillion.
The US Securities and Exchange Commission (SEC) argued in federal court against Coinbase that cryptocurrencies lack any "intrinsic or inherent value," stating in its filing: "Cryptocurrencies themselves have no intrinsic or inherent value - they are tied to their potential value, which for the cryptocurrencies at issue in this case, is the investment contract." This argument has been met with opposition from Coinbase and cryptocurrency professionals, with Coinbase's Chief Legal Officer, Paul Grewal, stating: "The SEC's argument would mean that everything from Pokemon cards to stamps to Swiftie bracelets is a security, which is simply not the law and should not be the law." (Decrypt)
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