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Daily Legal News: SBF to defend himself in court today; CYBER surges over 30% in the short term due to news of receiving investment from Binance Labs.

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Good morning! Here is a summary of important news in the cryptocurrency industry from the night of October 26th to this morning.

Price Observation

Bitcoin breaks $35,000 in a short time, with a 24-hour increase of 3.6%

On October 26th, according to OKX market data, Bitcoin briefly broke through $35,000 and is currently priced at $34,838, with a 24-hour increase of 3.6%.

Due to the news of receiving investment from Binance Labs, CYBER's short-term increase exceeded 30%

On October 25th, according to market data, CYBER's short-term increase exceeded 30% due to the news of receiving investment from Binance Labs, and it is now priced at $6.19.

LQTY has risen by over 25% in the past 15 minutes and is now trading at $1.93 USD.

On October 25th, according to market data, LQTY had a surge of over 25% in the past 15 minutes, with a highest price of $1.998 and a current price of $1.93.

Transaction Tracking

FTX and Alameda transfer another $1 million worth of COMP and $2 million worth of RNDR

On October 26th, according to on-chain analyst Yu Jin's monitoring, FTX and Alameda addresses continued to transfer 21,967 COMP (approximately $1 million) and 974,270 RNDR (approximately $2 million) to Wintermute 6 hours ago. Since yesterday, a total of 6 assets worth $13.35 million have been transferred.

KR1 will transfer a total of 3.2 million LDO to Kraken this year, realizing a profit of approximately $6.8 million.

On October 26th, the venture capital firm KR1 transferred 1.2 million LDO tokens to Kraken and a new address (each receiving 600,000 tokens), worth approximately $2.3 million. It is reported that KR1 received 15 million LDO tokens on December 17th, 2020 (costing $150,000 and now worth $29 million). This year, KR1 deposited a total of 3.2 million LDO tokens to Kraken at a price of $2.14 per token, worth approximately $6.8 million, and has realized a profit of approximately $6.8 million.

Project Updates

Arbitrum hints at a major announcement tomorrow.

On October 26th, the Arbitrum Foundation tweeted "Tomorrow" with a planet emoji. The tweet has been pinned, suggesting a major announcement will be made tomorrow.

Polygon has deployed the POL contract to the Ethereum mainnet.

According to official sources, after deploying the testnet earlier this month, Polygon Labs has deployed the contract for the next generation cryptocurrency, POL, on the Ethereum mainnet. POL is designed to evolve from MATIC and align with the architecture of the upcoming Polygon 2.0 upgrade. The officials stated that Polygon 2.0, which will be released this summer, is the roadmap to expand Ethereum to build the internet of value layer, and POL is the future of that. POL is the next generation token that can power the massive ecosystem of ZK-based L2 chains. It achieves this through a native re-collateralization protocol that allows POL holders to verify multiple chains and perform multiple roles on each chain, making POL an efficient token.

Polygon's POL contract address is now online, with a total token supply of 10 billion.

On October 25th, 21.co analyst Tom Wan posted on social media that the Polygon POL contract address has gone live, with a total token supply of 10,000,028,681. So far, 10 million MATIC has been migrated. The cancellation of the migration function has not yet been locked, so users can currently unmigrate POL back to MATIC. It seems that 0x29e7DF7b6A1B2b07b731457f499E1696c60E2C4e is the migration contract, which has the function of migrating MATIC to POL.

Web3 mobile wallet Rainbow releases video text message, suspected to imply airdrop

On October 26th, Web3 mobile wallet Rainbow released a video with the caption "We can't contain our excitement, true believers always get rewarded," accompanied by an image of an airdrop icon and the words "Coming Soon," suggesting a possible airdrop.

Cardano development company IOG appoints two former Algorand team executives as CEO and COO

On October 25th, according to official sources, Cardano development company Input Output Global (IOG) has appointed W. Sean Ford as CEO and David Markley as COO. Sean previously served as a founding member of the Algorand Inc team (COO and CEO), Chief Marketing Officer of Logmein (now GoTo), and executive and founder of multiple companies. David previously led Algorand's operations, venture capital, and business solutions teams, and was previously a product manager at the cybersecurity technology company Carbon Black.

Clearpool receives 150,000 OP grants from the OP Foundation and will be launched on the OP mainnet

Cryptocurrency recovery company proposes to crack former Ripple CTO's $244 million Bitcoin hard drive

On October 26th, according to Cointelegraph, Stefan Thomas, former CTO of Ripple, owns an IronKey hard drive containing 7002 BTC and has only two chances left to guess the password. In an open letter on October 25th, cryptocurrency recovery company Unciphered proposed to unlock Thomas's IronKey hard drive. Its team has developed a method to crack the hardware and access the BTC keys securely stored for many years. According to the technology magazine Wired on October 25th, the company was able to access data on similar IronKeys after "200 trillion attempts", apparently bypassing the 10-attempt limit on the drive.

Financing Express

Cryptocurrency startup Nocturne Labs completes $6 million financing, with participation from Vitalik Buterin and others

On October 25th, according to The Block, Nocturne Labs, a cryptocurrency startup, completed a $6 million seed round of financing. The round was led by Bain Capital Crypto and Polychain Capital, with participation from Ethereum co-founder Vitalik Buterin, Bankless Ventures, Hack VC, Robot Ventures, and others. Nocturne was founded in the United States last year and is building a protocol that aims to allow users to conduct anonymous transactions within the Ethereum ecosystem. It is expected to be released on the Ethereum mainnet next month.

Neon Machine, a game development studio, has completed a $20 million financing round with Polychain as the lead investor.

On October 25th, according to Decrypt, game development studio Neon Machine completed a $20 million Series A financing round. The round was led by Polychain, with participation from Griffin Gaming Partners, Brevan Howard Digital, Franklin Templeton, IOSG Ventures, and Tess Ventures. The funds from this round will be used to further develop their first-person shooter game "Shrapnel" at a "critical moment". "Shrapnel" is similar to the popular and successful "Call of Duty" series and is made using Unreal Engine 5. The game is expected to be released in December, initially targeting paid users, and eventually becoming a free game, with plans to fully launch in 2024. The Shrapnel team currently has 70 employees.

Web3 healthcare information platform Rymedi completes $9 million Series A financing, with participation from Blizzard Fund and others

On October 25th, according to The Block, Web3 healthcare information platform Rymedi completed a $9 million Series A financing round. The round was jointly led by RW3 Ventures and White Star Capital, with participation from Blockchange Ventures, Avalanche's Blizzard Fund, and several angel investors. Rymedi simplifies the transmission of medical records and data through blockchain technology, and this round of financing is planned to enhance data security and accessibility of medical records.

OTC secondary market platform STIX completes $2.7 million financing, led by Psalion VC

On October 26th, according to Decrypt, OTC secondary market platform STIX completed a $2.7 million financing round, led by Psalion VC, with follow-on investments from Big Brain Holdings, Eterna Capital, Fisher8 Capital, Humla Ventures, 0xkb, and TLF Ventures. STIX is able to achieve data-driven price discovery and enhance liquidity in the secondary market, allowing sellers to easily obtain liquidity in private, and also plans to release a suite of proprietary risk management and investment portfolio analysis tools.

Regulatory News

SBF will defend himself in court to prove that he did not commit any illegal acts such as fraud

On October 25th, according to Coindesk, the defense lawyer for FTX founder SBF stated that SBF will testify in the criminal trial and appeal directly to the jury to prove that he did not commit fraud or conspire to commit fraud on the once-massive cryptocurrency trading platform FTX. SBF will describe his views on the matter to 12 jurors and 6 alternate jurors, who will be asked to determine whether he is guilty beyond a reasonable doubt.

SBF Lawyer: SBF has prepared a large amount of evidence and will testify in court on October 26th.

On October 25th, according to The Block, SBF's lawyer Mark Cohen confirmed that his client will testify in court on October 26th (this Thursday), and the testimony may take a whole day to complete.

A group of US congressmen plan to introduce a new bill to strengthen bank secrecy laws and requirements for cryptocurrencies.

On October 26th, according to The Block, US Congressman Sean Caste plans to introduce a bill to strengthen the Bank Secrecy Act's requirements for cryptocurrencies, including extending to participants such as digital asset wallet providers and miners.

The ETF Store President: Hashdex has recently met with the SEC to discuss its BTC spot ETF application

On October 25th, Nate Geraci, the President of consulting firm The ETF Store, posted on social media that Hashdex recently met with the SEC's Division of Trading and Markets to discuss issues related to its Bitcoin spot ETF (DEFI) application. In response, a Bloomberg ETF analyst stated that if the SEC finds a way to reject all other Bitcoin ETFs, then Hashdex's application is tailored to every argument the SEC has made in the past, and it believes that the SEC cannot deny this.

Bitwise has submitted a modified version of its spot Bitcoin ETF to the US SEC.

On October 26th, Bloomberg ETF analyst James Seyffart stated on social media that cryptocurrency asset management company Bitwise has submitted a modified version of its spot Bitcoin ETF to the U.S. Securities and Exchange Commission (SEC), "just a response to Bitwise's comments and concerns about the SEC." If Bitwise's product is approved by the SEC, it will be traded under the ticker symbol BITB.

Coinbase and SEC's motion for oral argument on the judgment will be held in January next year.

On October 26th, Paul Grewal, the Chief Legal Officer of Coinbase, announced on social media that the oral argument for the motion to dismiss the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) is scheduled for January 17th.