Daily Legal News: SBF found guilty on all seven charges, facing new trial; Aragon Association announces dissolution.
Selected News:
1. SBF has been convicted and faces a new round of trial, including charges of foreign bribery and bank fraud;
2. Aragon Association announced its dissolution, and ANT holders can exchange their tokens for ETH.
3. FTX has transferred approximately $22 million worth of SOL to Binance and Wintermute today.
4.0x828 Whale increased its holdings of 2382 ETH at an average price of $1868, with a cumulative profit of $3.97 million.
5.Block's Bitcoin revenue surged nearly 40% year-on-year, and its stock price rose 15% after hours.
Price Observation
OSMO surged to $0.79 this morning before falling back, up more than 30% in 24 hours.
On November 3rd, according to market data, OSMO briefly surged to $0.79 before falling back and is now trading at $0.4662, with a 24-hour increase of 30.15%.On November 3rd, according to OKX market data, Ethereum fell below $1800 and is currently trading at $1796.02, with a 24-hour decline of 0.03%.
On November 2nd, according to OKX market data, Bitcoin fell below $35,000 and is now priced at $34,914.00, with a 24-hour decrease of 1.23%.
MASK surged and reached $3.577, up more than 24% in 24 hours.
On November 2nd, according to market data, MASK rose to touch $3.577 before falling back and is now priced at $3.514, with a 24-hour increase of 24.96%.Transaction Tracking
Justin Sun deposited $112 million worth of wstETH to Prisma's address
On November 2nd, according to Arkham monitoring, an address related to Justin Sun deposited $112 million worth of wstETH into the LSD stablecoin protocol Prisma Finance and minted over $60 million worth of stablecoin mkUSD in the past hour. Currently, the address holds over 60% of the Prisma wstETH pool.0x828 Whale Increases Holdings of 2382 ETH at an Average Price of $1868, Accumulating a Floating Profit of $3.97 MillionOn November 2nd, according to The Data Nerd, a whale address starting with 0x828 withdrew 2382 ETH (approximately $4.45 million) from Binance at a price of $1868, 8 hours ago. This address has withdrawn a total of 25,200 ETH (approximately $42.35 million) at an average price of $1679, currently with a floating profit of $3.97 million.
FTX has transferred approximately $22 million worth of SOL to Binance and Wintermute today.
On November 3rd, according to PeckShield's monitoring, the FTX cold wallet address has transferred approximately 550,000 SOL tokens (worth about $22 million) to Binance and Wintermute, and received about 326.64 SOL tokens (worth about $13,200) from Bitfinex.Project Updates
BlockBeats News, on November 3rd, the stablecoin protocol Prisma Finance announced on its official Twitter account that it has launched its first proposal PIP 001, aiming to increase the debt ceiling of the wstETH vault from the current 100 million mkUSD to 200 million mkUSD, allowing more users to participate in the minting of mkUSD. Currently, the proposal has started voting and is expected to end on November 4th, 2023, with a current approval rate of 100%.
Injective has integrated with Kava to expand stablecoin asset interoperability
On November 2nd, Injective completed integration with Kava to expand access to stablecoin assets such as USDT. This partnership follows Kava's recent announcement of receiving support from the Tether Foundation to natively issue USDT within the wider Cosmos ecosystem. The collaboration will include bridging USDT directly from Kava to Injective's IBC. Additionally, the Kava community has approved a governance proposal to incentivize the use of USDT on Injective through Kava token rewards.MetaMask enables privacy protection security alert Blockaid
On November 2nd, MetaMask announced the activation of the privacy protection security alert Blockaid. The new feature allows for the simulation of transactions and the signing of Blockaid directly within the wallet, in order to alert users of malicious requests before they sign. Users can enable this feature by going to "Settings" > "Experimental".
Data analysis platform Dune launches DuneAI
On November 3rd, the Abu Dhabi Global Market (ADGM) Registration Authority announced the launch of the 2023 Distributed Ledger Technology (DLT) Foundation Regulations, aimed at providing a specialized legal framework for blockchain foundations, decentralized autonomous organizations (DAOs), and the wider cryptocurrency industry. The implementation of this regulation marks a significant step forward in digital asset regulatory frameworks at both the regional and international levels.
SEC criticized by government accountability office for improper process in issuing cryptocurrency accounting standardsOn November 3rd, according to CoinDesk, the chairman of the US Securities and Exchange Commission (SEC) has been scrutinizing non-compliant behavior in the cryptocurrency industry. However, the SEC has been criticized by the Government Accountability Office (GAO) for not treating its policies as formal rules when releasing cryptocurrency accounting standards. This has sparked a policy dispute. Despite the GAO's criticism, it appears that there may not be much change at the moment. The agency may take corrective action in response to the GAO's accusation that it bypassed the Congressional Review Act (CRA) and should have submitted Staff Accounting Bulletin 121 (SAB 121) to Congress when controversial policies were released in 2022. The core content of SAB 121 requires financial institutions to include customers' cryptocurrency assets in their balance sheets when receiving them. This effectively requires banks to support customers' digital assets with expensive capital reserves.
The implementation of SAB 121 has sparked controversy, with some people believing that it will drive financial institutions away from the cryptocurrency industry because they are unwilling to bear additional costs for clients' digital assets. This may lead to people entrusting their assets to unregulated companies, increasing the risk. In addition, GAO's observations may trigger other legal challenges. Cryptocurrency companies that are hindered in finding suitable asset custodians may consider filing lawsuits against regulatory agencies. If the SEC takes enforcement action on accounting issues, its target may be accused of not following proper legal procedures.
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