Daily Legal News | Deribit plans to offer SOL, XRP, and MATIC options trading in January next year; Over 140 cryptocurrency trading platforms including Huobi and KuCoin have been listed on the UK FCA warning list.
Selected News:
1. Bloomberg: Deribit plans to offer SOL, XRP, and MATIC options trading in January next year.
2. Beosin: Lucky star Currency experienced a Rug Pull, and the deployer has already profited $1.1 million.
3. OpenSea responds to employee incident: Kevin Pawlak has resigned and they were not aware of his involvement in the project.
4. Ethereum Foundation sells 1700 ETH;
5. Over 140 cryptocurrency trading platforms, including Huobi and KuCoin, have been listed on the warning list of the UK FCA.
Project Updates
Stride plans to convert STRD to ATOM and use ATOM as the sole governance token
The Cosmos ecosystem liquidity staking protocol Stride has released a proposal that is still in the conceptual stage. The proposal aims to convert all Stride tokens (STRD) into ATOM, which will serve as the sole governance token and will be eligible for all rewards from the Stride protocol. Stride stated that this move is intended to further decentralize Stride and position it as a "satellite chain" of Cosmos Hub, with a focus on developing for Cosmos Hub.
According to Look on Chain data, a whale address starting with 0x111 is currently using Aave's flash loan feature to go long on the ETH/BTC exchange rate. The specific operation involves depositing ETH into Aave, borrowing WBTC, exchanging WBTC for ETH, depositing ETH back into Aave, and borrowing WBTC again. Currently, this address has deposited a total of 44,956 ETH (approximately $73.5 million USD) and borrowed 2,088 BTC (approximately $58.3 million USD).
OKX Web3 Wallet now supports Flashbot, protecting users from MEV attacks.
According to official sources, due to the frequent occurrence of MEV attacks on the chain, the OKX Web3 wallet now supports Flashbot to protect users from MEV attacks. Users can click "More" in the ETH chain SWAP transaction of the OKX Web3 wallet and enable MEV protection to effectively prevent MEV attacks. The OKX Web3 wallet sends transactions to trusted third-party nodes (such as Flashbots private pools) instead of regular transaction pools to ensure that the transaction order is not changed.
It is reported that the MEV sandwich attack process is like a sandwich, where the attacker uses their own transaction to sandwich the victim's transaction in the middle, thus earning the difference. Specifically, the attacker continuously scans the blockchain's memory pool until they find a high-value transaction. After that, the attacker performs a Swap before the user, paying a higher Gas fee to ensure that their purchase transaction is confirmed on the blockchain before the user's transaction. Then, the attacker's purchase transaction drives up the price of the token that the victim is about to purchase, causing the victim to pay more. After the victim purchases the token, the attacker sells their own tokens to earn the difference.
Bloomberg: Deribit plans to offer SOL, XRP, and MATIC options trading in January next year
According to Bloomberg, the cryptocurrency options trading platform Deribit plans to launch more cryptocurrency options trading. Deribit COO Luuk Strijers said that starting from January next year, they will support options trading for Solana (SOL), Ripple (XRP), and Polygon (MATIC). Luuk Strijers also stated that in the future, they plan to apply for a cryptocurrency broker license from the European Union (EU) and consider relocating the company from Panama to Dubai if approved by regulatory authorities.
Related reading: "Deribit faces regulatory pressure? Plans to launch options trading for SOL, XRP, etc. in January next year, previously defined as securities by the SEC."
According to Beosin Alert, Lucky Star Currency, a project on the BNB Chain, has experienced a Rug Pull, and the deployer has profited $1.1 million. The token LSC has dropped from $2.8 to $0.04.
OpenSea has responded to the employee incident: Kevin Pawlak has resigned and was not aware of his involvement in the project.According to Cointelegraph, in response to the NFT Ethics' claim that "KOL Sisyphus's true identity is suspected to be Kevin Pawlak, a venture capital executive at OpenSea," an OpenSea spokesperson stated that "Kevin Pawlak is a former employee of OpenSea who left in June 2023. His scope of work at OpenSea was limited and he held a non-managerial position. We do not know if he was involved in any related projects. Additionally, we have no connection or information regarding these projects as they were conducted before he joined OpenSea." Furthermore, blockchain investigator ZachXBT also questioned NFT Ethics' claims, stating that most of the post seems to be based on "unrelated events without any facts."
Related reading: "OpenSea official response to the Sisyphus identity incident: 'We are not aware of it'".
LSDFi Protocol Lybra Finance has now been integrated into OKX Web3 Wallet
According to the official website, Lybra Finance has now integrated with the OKX Web3 wallet. Users can use the OKX Web3 wallet plugin to stake ETH, stETH, rETH, wstETH, and other tokens to mint stablecoin eUSD, earn LBR tokens, stake LBR, and share protocol revenue and LP rewards. Lybra Finance is an LSDFi stablecoin protocol that primarily operates by staking ETH or stETH to mint eUSD stablecoins, and then using LSD profits to buy back eUSD to generate interest for holders.It is reported that OKX Web3 Wallet is a one-stop Web3 entrance, which now supports 70+ public chains, covering wallet, DEX, DeFi, NFT market, DApp exploration in 5 major sections, and supporting Ordinals market, MPC and AA smart contract wallets, gas exchange, connection to hardware wallets, bringing users a convenient and secure user experience.
Related reading: "Web3 wallet products are frequently active, is OKX going to be the "attacking decentralized player" in the trading platform?"
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."
Data
A certain MTL early holder transferred 1.5 million MTL to Binance one hour ago.
According to Look on chain data, an early holder address of MTL transferred 1.5 million MTL (approximately $1.8 million) to Binance for sale one hour ago, causing a short-term drop of 2.6% in the price of MTL. The address still holds 1 million MTL (approximately $1.23 million) at present.Ethereum falls below $1600, down 1.87% in 24 hours
According to OKX market data, Ethereum has fallen below $1600 and is currently trading at $1591, with a 24-hour decline of 1.87%.The Ethereum Foundation sells 1700 ETH
According to Scopescan data, the Ethereum Foundation has just exchanged 1700 ETH (approximately $2.76 million) for USDC.
Related reading: "Another phase peak? Ethereum Foundation sells 1700 ETH again".
DWF Labs once again deposits 10 million ORBS into Bithumb
According to Spot on Chain data, DWF Labs deposited another 10 million ORBS (approximately $28.4 thousand) into Bithumb 10 minutes ago. It is reported that DWF Labs has deposited a total of 34.07 million ORBS (approximately $96.9 thousand) into Bithumb in the past 24 hours, during which time the ORBS price has fallen by 11.6%. Currently, DWF Labs still holds 140 million ORBS (approximately $3.98 million).
friend.tech protocol fees have exceeded $40 million, with protocol revenue exceeding $20 million
According to DefiLlama data, the protocol fees of friend.tech have exceeded $40 million, reaching $41.05 million. The protocol revenue has exceeded $20 million, reaching $20.52 million.
friend.tech "Keys" price ranking: Crypto KOL Vombatus ranks first with 8.236 ETH
friend.tech "Keys" price ranking list latest data shows:
· Cryptocurrency KOL Vombatus ranks first with 8.236 ETH;
· Crypto KOL CBB0FE ranks second with 5.256 ETH;
· Cryptocurrency KOL Levi ranks third with 5.006 ETH;
· Cryptocurrency KOL dingaling ranks fourth with 4.225 ETH;
· The platform founder Racer ranked fifth with 4.128 ETH.
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 the Base network, currently issued at 159 million US dollars.
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.
Regulation
According to UK regulations, companies that are allowed to engage in cryptocurrency activities must be registered with or obtain temporary operating qualifications from the FCA. In addition, the FCA revealed that since 2020, a total of 291 registration applications have been received, but only 38 have been approved, which is approximately 13%. Currently, the list of registered cryptocurrency providers by the FCA includes 42 entities such as Bitstamp, Revolut, and Gemini.
Related reading: "Over 140 trading platforms have been included in the warning list, and the regulatory efforts of cryptocurrency in the UK continue to increase".
According to the report by "Sing Tao Daily", the Financial Affairs Committee of the Hong Kong Legislative Council will discuss the regulation of virtual asset trading platforms. In response to the feasible regulatory form of OTC, the Financial Services and the Treasury Bureau of Hong Kong stated that the government and regulatory authorities will review regulatory measures from time to time and consider introducing appropriate measures in response to market developments, including regulating related businesses outside of virtual asset trading platforms. This will take into account appropriate regulatory authorities, forms, and regulatory requirements.
It is reported that there is currently no official statistics on the number of OTC entities operating in physical stores in Hong Kong. The industry estimates that there are more than 100, some of which handle billions of cash transactions annually. In addition, industry insiders suggest that OTC should be regulated by customs, extending the existing MSO license to virtual assets, requiring real-name registration for transactions over 8,000 yuan, and having a responsible person receive AML training, establish a mechanism to report suspicious transactions, and customs should also establish a dedicated team and enhance professional knowledge.
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