Daily Legal News | FTX and Alameda have transferred a total of $59 million worth of cryptocurrency assets; Stars Arena announced the formal establishment of the company and is ready for seed round financing.
1. As of October 27th, FTX and Alameda have transferred a total of $59 million worth of encrypted assets.
2. Stars Arena has announced the formal establishment of the company and is preparing for seed round financing.
3. He Yi: Binance Labs' assets have reached 9 billion US dollars, and Binance Charity has donated over 30 million US dollars in total;
4. Taiwan officially proposed the draft of virtual asset management regulations;
5. The Cosmos Hub proposes a funding of $5.7 million for core development and testing in 2024, with the majority of votes currently opposing.
Price Observation
Bitcoin Volatility Index rose to 60.2 yesterday, with a daily increase of 1.9%.
On October 27th, the BitVol (Bitcoin Volatility) index launched by T3 Index, a financial index company, in collaboration with LedgerX, a Bitcoin options trading platform, rose to 60.2, with a daily increase of 1.9%.
BlockBeats Note: BitVol Index measures the 30-day expected implied volatility derived from tradable Bitcoin options prices. Implied volatility refers to the volatility implied by the actual option price. It is calculated using the B-S option pricing formula, which uses the actual option price and other parameters except for the volatility σ to calculate the volatility. The actual price of the option is formed by the competition of many option traders. Therefore, implied volatility represents the market participants' views and expectations of the future market, and is considered the closest to the actual volatility at that time.
FLOKI short-term breakthrough 0.00004 US dollars, 24-hour increase of 21%
On October 27th, according to OKX market data, FLOKI briefly broke through 0.00004 USD and is now priced at 0.00003845 USD, with a 24-hour increase of 21%.
MBOX breaks through $0.28, with a 24-hour increase of 15.9%
On October 27th, according to market data, MBOX broke through 0.28 US dollars and is now priced at 0.2858 US dollars, with a 24-hour increase of 15.9%.
Tottenham Hotspur fan token (SPURS) price breaks $4, with a gain of over 30% today
On October 27th, according to OKX market data, the Tottenham Hotspur fan token (SPURS) price broke through $4, with a gain of over 30% today.
Transaction Tracking
Falcon X deposited a total of 5690 MKR to multiple CEXs at an average price of $1497.
On October 27th, according to The Data Nerd's monitoring, in the past 3 days, cryptocurrency broker Falcon X deposited a total of 5690 MKR (approximately $8.52 million) to multiple CEXs at an average price of $1497. Its address balance is currently 10,150 MKR (approximately $14.17 million).
On October 27th, according to Spot On Chain monitoring, the Uniswap Foundation transferred another 500,000 UNI (2.15 million USD) to OKX 13 hours ago. In the past 4 days, the Uniswap Foundation has transferred 7.4 million UNI (31.8 million USD) to the trading platform. The Uniswap Foundation still holds 3.7 million UNI (15 million USD).
A certain whale will transfer 19,000 BTC it holds to a new address, worth about $649 million.
On October 27th, according to monitoring by PeckShield, a certain whale transferred 19,000 BTC held to a new address, currently worth approximately $649.63 million. It is understood that the BTC in this address was transferred 11 months ago, when it was worth $317.84 million.
Wintermute transferred 1 million ARB to Binance 7 hours ago, worth approximately 947,000 US dollars.
On October 27th, according to Scopescan monitoring, 7 hours ago, Wintermute transferred 1 million ARB (USD 947,000) to Binance. Wintermute has transferred a total of 7.75 million ARB (USD 6.86 million) to Binance, and the price of ARB has risen by 20% in the past week.
Data: Wintermute transferred 4 million ARKM to Binance
On October 27th, according to Scopescan monitoring, Wintermute transferred 4 million ARKM tokens to Binance approximately 35 minutes ago, equivalent to 1.488 million US dollars. It is reported that these ARKM tokens can be traced back to the Arkham Ecology Fund.
On October 27th, according to The Verge, Elon Musk stated in an internal conversation at X company that he hopes X will become the center of users' financial lives, handling all money-related transactions, and expects to launch related features by the end of 2024. He emphasized that it is not just simple payment functions, but comprehensive financial services that will allow users to not need a bank account. X is currently working hard to obtain a payment business license in the United States in order to provide financial services.
In addition, Musk stated that the transformation of X is directly related to his goals, which is to turn it into an "all-in-one application" similar to China's WeChat, providing services such as shopping and transportation.
Memeland token community pre-sale has ended, raising a total of 8737 ETH
On October 27th, the MEME token community pre-sale (discounted sale) of NFT project Memeland has ended. On-chain data shows that the MEME token community pre-sale raised a total of 8,737 ETH (worth approximately $15.67 million).
MOBOX announces MBOX token brand upgrade, holders will receive exclusive benefits
On October 27th, the blockchain gaming platform MOBOX announced a major brand upgrade, and MBOX token holders will enjoy exclusive plans and benefits. MOBOX stated that the purpose of this upgrade is to bring users a new experience and further enhance the value of MBOX tokens. MOBOX will soon announce the detailed content of the brand upgrade.
The lending market 0VIX resumes operation on Polygon PoS
On October 27th, according to an official announcement, Polygon PoS's lending market 0VIX has successfully restored all functions, including repayment and withdrawal. Recently, 0VIX will be integrated with the new Keom Protocol to complete its transition to Keom. Keom plans to launch a series of AI-enhanced trading products, fully utilizing advanced zero-knowledge technology, and proactively integrating the latest user protection standards required by regulations. 0VIX was attacked in April of this year and lost approximately $2 million. After the attack, 0VIX suspended the use of all protocol functions on Polygon PoS.
At the end of August this year, 0VIX announced its rebranding as Keom. The lending markets of 0VIX on Polygon PoS and Polygon zkEVM will be merged into Keom.
Platypus Finance plans to distribute refunds to affected users next week.
On October 27th, stablecoin trading project Platypus Finance posted on social media that the team is calculating the exact amount of tokens each user should receive, including funds from aggregators. They are working closely with these partners to process refunds on a case-by-case basis. Platypus Finance aims to distribute refunds next week and will provide timely updates when there is further news.
BlockBeats previously reported that on October 12th, Platypus, a stablecoin trading project on the Avalanche chain, was attacked and lost over 2 million US dollars.
CeFi Information
Citadel Securities denies being the mastermind behind the UST crash
On October 27th, according to CoinDesk, billionaire Ken Griffin's trading company Citadel Securities denied Terraform Labs' claim that Citadel Securities was behind the UST crash in May last year. Citadel Securities stated that Terraform Labs' actions were used to shift attention away from the accusations against them, forcing people to pursue absurd conspiracy theories. Not only is the requested time period irrelevant, but this theory is also unfounded.BlockBeats previously reported that on October 13th, Terraform Labs submitted a motion to the court requesting that market maker Citadel Securities "provide certain data based on third-party subpoenas" and stated that this is "crucial" for its defense in the lawsuit filed by the US SEC.
The motion states that Terraform Labs has issued subpoenas to Citadel Securities and Citadel Enterprise Americas regarding transaction data related to "the May 2022 anchor detachment". Terraform points out that publicly available evidence suggests that Ken Griffin, the head of Citadel entities, intends to short UST before and after the May 2022 anchor detachment.
On October 27th, according to official sources, the Web3 gaming ecosystem Worldwide Asset Exchange (WAX) reached a strategic partnership with Amazon Prime Gaming on October 26th, bringing "Brawlers" game content to Amazon Prime members. To provide users with more high-quality experiences, OKX and WAX announced that they will jointly launch a welfare activity. From October 26th to November 3rd, players who create a WAX account on the OKX Wallet plugin can share the BRWL token prize pool without paying gas fees.
It is reported that BRWL is the token of the game "Brawlers". "Brawlers" is a Web3-based fighting strategy game developed and launched by Tyranno Studios, a WAX ecosystem game studio invested by OKX Ventures in 2022. It allows players to compete in highly innovative player-versus-player (PvP) battles and accumulate Brawler collections with the in-game token BRWL.
Bitget Launchpad project T2T2 group buying mode has officially launched
On October 27th, Bitget announced the launch of a new Launchpad project, T2T2, which introduces a group-buying model for the first time. The current group-buying model is open, and a group can be formed with three people. Existing users can initiate a group-buying, and new registered users can both initiate and join a group-buying. Users who form a group can invest up to twice the average holding position. The group-buying period is from October 27th 15:00 to November 6th 15:00 (UTC+8).
CygnusDAO has now integrated OKX DEX API
On October 27th, according to official sources, the decentralized stablecoin lending and leverage trading protocol CygnusDAO has now integrated the OKX DEX API, allowing CygnusDAO users to use OKX DEX for leveraged trading with ultra-low slippage, optimal pricing, and better liquidity. CygnusDAO aims to achieve maximum capital utilization for liquidity providers of stablecoins.It is reported that the OKX Web3 wallet's DEX section is a DEX and cross-chain aggregator, which has aggregated more than 10 cross-chains, more than 20 public chains, and more than 300 DEXs. Through X Routing intelligent routing, a transaction can simultaneously use multiple DEXs, providing users with the best price, optimal liquidity, and zero transaction fees. It also has DEX market section, limit orders, KYT security checks, and other functions.
Financing Express
Solana Labs has launched an incubator called Solana Incubator.
On October 27th, Solana Labs announced the launch of its incubator, Solana Incubator, with an application deadline of November 30th. Selected teams will work directly with Solana Labs to meet their specific needs, including participation in blockchain development, design and product launch planning, fundraising support, and venture capital introductions.Bitcoin mining company Marathon Digital plans to raise up to $750 million through equity issuance.
On October 27th, Bitcoin mining company Marathon Digital submitted an S-3 form to the US SEC, planning to raise up to $750 million through a mixed equity offering. Marathon Digital stated: "We may from time to time sell common stock, preferred stock, warrants, or any combination of these securities in one or more offerings at prices and on terms to be determined at the time of each offering, for aggregate initial offering proceeds of up to $750 million."
On October 27th, according to CoinDesk, the recent rise in the price of Bitcoin in Turkey and Nigeria has reached a historic high due to massive inflation and the decline in purchasing power of national fiat currencies. As of Friday morning, the price of Bitcoin in the Turkish market reached 9.6 million lira, and in the Nigerian market, the price of Bitcoin reached 27.4 million naira. Calculated in local currency, Bitcoin's monthly increase is as high as 30%. According to data from CoinGecko, the local cryptocurrency trading platform's Bitcoin trading volume in the past 24 hours reached $40 million, which may not include local users trading on global trading platforms such as Binance or Coinbase.
It is reported that in the past month, the Naira has fallen 0.45% against the US dollar, and has fallen 45% in the past six months; the Lira has fallen 2.9% against the US dollar in the past month, and has fallen 31% in the past six months. A study by the International Monetary Fund (IMF) shows that compared to 2022, Nigeria's inflation rate has risen by 25%, while Turkey's inflation rate has skyrocketed by 51%, leading to a significant decline in the purchasing power of TRY and NGN. This may boost people's demand for Bitcoin.
Data: Nominal value of $2.98 billion BTC and $1.57 billion ETH options contracts are about to expire
On October 27th, according to data from Greeks.live, 87,000 BTC options are about to expire with a Put Call Ratio of 0.88, a maximum pain point of $29,000, and a nominal value of $2.98 billion. Additionally, 880,000 ETH options are about to expire with a Put Call Ratio of 0.47, a maximum pain point of $1,650, and a nominal value of $1.57 billion. BTC has exploded in the market this week, reaching a new high for the year at $36,000 on the 24th, driving the overall IV to soar and approaching the highest level of the year. The delivery price of this cycle's options will be significantly far from the maximum pain point.However, it is worth noting that this week, the whale mainly focused on selling in the latter half of the week. The market sentiment has clearly improved, but it is not enough to sustain the market. Currently, it is necessary to pay attention to market news and data to see if there is incremental capital entering to support the current bull market.
friend.tech "Keys" price ranking: Crypto KOL CBB0FE ranks first with 5.329 ETH
On October 27th, the latest data from friend.tech's "Keys" price ranking list was released.· The encryption KOL CBB0FE ranks first with 5.329 ETH.
· Encryption KOL MURPHY_WIFE ranked second with 3.875 ETH;
· Cryptocurrency KOL Levi ranks third with 3.57 ETH;
· Crypto KOL Herro ranks fourth with 3.335 ETH;
· NDV Collaborates with Christian2022.mid and ranks fifth with 3.025 ETH.
Analysis: SEC may approve Bitcoin spot ETF before selling GBTC on FTX
On October 27th, according to a court document, FTX holds approximately $417 million worth of Grayscale Bitcoin Trust Fund (GBTC). Scott Jonhsson, a partner at Van Buren Capital, stated that FTX's bankruptcy restructuring plan is unlikely to be confirmed before the second quarter of 2024, and it is expected that the SEC will make a decision on the spot Bitcoin ETF before then. If GBTC has been converted to a Bitcoin spot ETF by then, FTX's sale will not exacerbate GBTC's negative premium, as the creation and redemption process of the ETF should only track the price of the underlying asset BTC.
Fundstrat's cryptocurrency strategy director, Sean Farrell, said that if the SEC approves a spot ETF, it will help ensure that creditors are compensated. The negative premium rate of GBTC will become more obvious, and given this positive factor, the overall price of cryptocurrency assets is likely to soar. Coinglass data shows that the current negative premium rate of GBTC is 13.12%.
Deribit: The nominal open interest of Bitcoin and Ethereum options has exceeded $20 billion
On October 27th, according to Coindesk, the open interest of Bitcoin and Ethereum options on Deribit platform has exceeded 20 billion US dollars, reaching 20.64 billion US dollars. The open interest on the platform is almost close to the peak on November 9th, 2021, when the Bitcoin trading price exceeded 66,000 US dollars, which is 90% higher than the current market price of 34,170 US dollars. Currently, the open interest of the contract terms is significantly higher than that of November 2021.
In addition, the BTC and ETH options contracts worth $4.5 billion on the Deribit platform will expire today.
On October 27th, according to SEC official filings, Grayscale, a cryptocurrency asset management company, plans to sell 50,000 shares of its Bitcoin Cash Trust (BCH) on the OTCQX exchange. The securities being sold are held by DCG International Investments Ltd. and are expected to have a total market value of $93,050. The sale is scheduled to take place on October 26th local time.
It is worth noting that DCG International Investments Ltd. has sold shares of Grayscale Bitcoin Cash Trust multiple times in the past three months. With the sale of these shares, the total sales volume has reached 230,000 shares.
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