Daily Legal News: US CFTC Commissioner says investing in cryptocurrencies is no longer a passing fad; Paradigm co-founder Fred Ehrsam resigns.
Selected News:
1. Linear Finance is suspected to have transferred $1.2 million worth of LINA to the DWF Labs address via OTC.
2. BlockFi has successfully completed its bankruptcy restructuring and launched a compensation plan;
3. Paradigm co-founder Fred Ehrsam has resigned and will continue to participate in operations as a general partner.
4. CFTC Commissioner: Investing in cryptocurrencies is no longer a temporary trend;
5. BlackRock IBTC has reappeared on the DTCC website list, but with a modified "creation/redemption" description.
Price Observation
Bitcoin rebounds above $34,000, up 9.89% in 24 hours
On October 25th, according to OKX market data, Bitcoin rebounded above $34,000 and is currently priced at $34,063.36, with a 24-hour increase of 9.89%.
On October 24th, according to Coinglass data, the entire network liquidated $47.51 million in the past hour, with long positions liquidated at $41.36 million and short positions liquidated at $6.14 million.
The blockchain sector of the US stock market opened strongly, with Coinbase (COIN.O) rising 8%.
On October 24th, the blockchain sector of the US stock market opened strongly, with Riot Blockchain (RIOT.O) rising by 11%, Coinbase (COIN.O) rising by 8%, and Canaan Inc. (CAN.O) rising by 8%. (Jinse)Transaction Tracking
On October 25th, according to Lookonchain monitoring, DeFi protocol Linear Finance allegedly transferred $1.2 million worth of LINA (124.8 million tokens) to DWF Labs address via OTC. 10 minutes later, DWF Labs transferred $1 million USDT to Linear Finance.
1inch exchanged 4685 stETH for 8.54 million USDC, earning about $900,000
On October 24th, according to @EmberCN, in the past half hour, the 1inch team sold some ETH for profit: selling 4685 stETH for 8.54 million USDC, with an average selling price of $1823, realizing a profit of $900,000. Since August 28th, the 1inch team has accumulated 15 million USDT+2.56 million USDC to buy 10,773 ETH at an average price of $1630.
Binance will launch POLYX and GAS perpetual contracts with up to 50x leverage
On October 24th, Binance will launch the POLYX 1-50x U perpetual contract on October 25th at 10:30, and the GAS 1-50x U perpetual contract on October 25th at 10:45.
A certain whale transferred 30,710 ETH to Binance, with an average cost of about $1667.
On October 24th, according to @EmberCN, a certain whale transferred 30,710 ETH (approximately $5.678 million) to Binance. This address has withdrawn a total of 42,311 ETH (approximately $70.55 million) from Binance since September 20th. The whale's average ETH price is about $1,667.
GnosisDAO exchanged 3000 wstETH for 6.2 million DAI
On October 24th, according to Scopescan monitoring, the active fund management address of GnosisDAO exchanged 3,000 wstETH for 6.2 million DAI in the past hour. Afterwards, the address withdrew 16,800 wstETH (approximately 35 million USD) from MakerDAO, of which 5,000 wstETH were transferred to the Gnosis chain via the ETH-xDAI Omni Bridge.
Project Updates
On October 24th, Injective announced a partnership with Google Cloud to integrate Web3 financial data into Google Cloud BigQuery. Core chain data from the Injective network will be accessible in BigQuery through Google Cloud's exclusive data sharing platform, Analytics Hub.
Walmart and Outlier Ventures team up with five startups to launch Web3 accelerator
On October 24th, according to Techcrunch, Walmart and cryptocurrency venture capital firm Outlier Ventures have teamed up with five startups to launch the Web3 accelerator program Store N°8 Base Camp. This 12-week virtual incubator program introduces a flagship group composed of five companies specializing in Web3 marketing, advertising, and improving payment technology. These startups are located in the United States, Italy, Poland, and the United Kingdom.
The focus of this plan is "decentralized commerce", which means improving the experience of retailers and consumers through Web3 innovation. Participating startups will also have access to Store N°8's e-commerce, retail, marketing, media, Web3, gaming, and venture capital network for support.
On October 25th, according to Reuters, cryptocurrency lending company Genesis Global stated that it may be forced to undergo bankruptcy liquidation that does not involve its claim against Digital Currency Group (DCG) due to a civil fraud lawsuit filed by New York State Attorney General Letitia James against Genesis Global, its parent company DCG, and former partner Gemini Trust Co. Previously, these three cryptocurrency companies were accused of defrauding investors of more than $1 billion through their jointly operated investment project, Gemini Earn. Genesis plans to propose a "no settlement" bankruptcy plan, distribute existing cryptocurrency assets to customers, and establish a process to preserve the right to sue DCG and other parties.
SBF defense team may summon six potential witnesses this week
On October 25th, according to CoinDesk, the US Department of Justice stated in a filing submitted on Tuesday that after the completion of the case statement this week, Sam Bankman-Fried's defense team may subpoena six potential witnesses. The DOJ's filing did not disclose the names of any potential defense witnesses, and it is currently unclear whether SBF will testify in court. The DOJ also stated that it only intends to subpoena one witness when the trial resumes on Thursday.
On October 25th, Coinbase submitted a reply brief to the US Securities and Exchange Commission (SEC) regarding the June accusation that it was not registered as a securities exchange, broker, and clearing agency. Coinbase stated that the SEC's accusation exceeded its jurisdiction.
On October 25th, according to Reuters, a spokesperson for the Depository Trust & Clearing Corporation (DTCC), a U.S. securities central depository and settlement company, stated in a statement that BlackRock's iShares Bitcoin Trust ETF was added to the DTCC's qualified file in August. The spokesperson stated: "DTCC adds securities to the NSCC securities qualified file in preparation for the launch of new ETFs in the market, which is standard practice. Being on the list does not indicate the result of any unfinished regulatory or other approval processes."
On October 25th, according to official website data, iShares, a subsidiary of asset management giant BlackRock, has reappeared on the DTCC (Depository Trust & Clearing Corporation) website list for Bitcoin spot ETF. However, in the "Create/Redeem" section, it has changed from "Y" to "N".
美 CFTC 委员：投资加密货币已不再是一时的热潮 Translation:
US CFTC Commissioner: Investing in cryptocurrency is no longer a temporary trend
On October 24th, Summer Mersinger, a commissioner of the US Commodity Futures Trading Commission (CFTC), stated that investing in cryptocurrencies is no longer just a passing trend following the recent surge in Bitcoin prices. The Republican commissioner noted that certain ETFs related to Bitcoin have been trading for some time and that institutions have shown interest in investing in cryptocurrencies. "I think people are very interested in these products. The market is ready for the availability of these products," she said. "There was a view that regulatory agencies thought this was almost a fad that people would give up on. As traditional finance continues to get involved and truly invest, it just further proves that these products are not going away."
Grayscale to collaborate with FTSE Russell to launch cryptocurrency index products
On October 24th, Grayscale will collaborate with FTSE Russell, a subsidiary of the London Stock Exchange and a provider of stock market indices, to launch the "Crypto Sector Index Series" of cryptocurrency index products. This is a set of 5 different rule-based indices that capture the investable cryptocurrency market of the Grayscale cryptocurrency industry. The cryptocurrency industry index covers more than 150 protocols and will be re-evaluated quarterly to reflect the dynamic nature of the cryptocurrency asset class.Welcome to join the official community of BlockBeats by LUDONG
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