Legal Daily News: US Department of Justice seeks over $4 billion in fines from Binance to settle related criminal charges; Blast, a Layer2 network founded by Blur, completes $20 million in financing with participation from Paradigm.
Top News:
1. The US Department of Justice is seeking a fine of over $4 billion from Binance to settle related criminal charges, with the plan expected to be released as early as the end of this month.
2. The Layer 2 network Blast, founded by the founder of Blur, has completed a $20 million financing round with participation from Paradigm.
3. OKX has submitted an application for a virtual asset trading platform license to the Hong Kong Securities and Futures Commission.
4. Tether voluntarily freezes 225 million USDT related to international criminal organizations;
5. A large number of friend.tech user accounts have been mistakenly identified as robots, causing a 19.5% drop in friend.tech TVL in the past 2 days.
Price Observation
Bitcoin falls below $37,000 in the short term
On November 20th, according to OKX market information, Bitcoin briefly fell below $37,000 and is now priced at $36,901, with a 24-hour increase of 1.31%.
Ethereum falls below $2,000 in the short term
On November 20th, according to OKX market information, Ethereum briefly fell below $2000 and is now trading at $2002, with a 24-hour decrease of 2.85%.
PYTH has opened for application, with the token currently priced at $0.38.
According to official sources, the PYTH airdrop is now open for application. According to Coingecko data, PYTH is currently priced at $0.38 USD.PYTH currently reports $0.400, previously surged to $0.653
According to Bitget market data, PYTH rose to touch 0.653 USD before falling back and currently trading at 0.400 USD.SKL short-term breakthrough $0.05, with a 24-hour increase of 43.54%According to OKX market information, the Ethereum sidechain SKALE Network's token SKL has recently surged to $0.05, with a 24-hour increase of 43.54%.
BNB short-term rise over 8%On November 21st, according to Binance market data, BNB rose more than 8% in a short period of time early this morning.
Transaction Tracking
Binance Labs Fund transferred 3.75 million GMT to Binance.
According to Yu Jin's monitoring, the Binance Labs Fund address transferred 3.75 million GMT tokens (worth approximately $990,000) to Binance yesterday.Whale Alert: Two addresses have been frozen, holding over 117 million USDT
According to Whale Alert monitoring, an address holding 87,464,642 USDT has been frozen. In addition, an address holding 30 million USDT has also been frozen.Alameda related addresses are receiving PYTH airdrops through multiple addresses, currently ranking as the 7th largest holderAccording to Lookonchain monitoring, Alameda-related addresses starting with 9un5wq are currently receiving PYTH airdrops through multiple addresses. The address is currently the 7th largest holder, holding 63.5 million PYTH tokens, worth approximately $20.47 million.
Shield: FTX transfers 75 million TRX, including 25 million to Binance
On November 21st, according to PeckShieldAlert monitoring by Paiduin, FTX transferred 75 million TRX (approximately $7.6 million) out of their address, with 25 million TRX transferred to Binance.
The USDT issuing company Tether announced on its official website that OKX announced today that they have cooperated with the US Department of Justice (DOJ) to conduct an investigation, which led Tether to voluntarily freeze about 225 million USDT tokens in external self-hosted wallets. These wallets are associated with an international human trafficking group in Southeast Asia, which is involved in leading the global "Ponzi scheme".
Bitget has launched the PYTH/USDT trading pair.
Bitget has launched Pyth Network (PYTH) and the deposit and trading channels are now open.
In addition, a full-network airdrop campaign will be launched, with the activity period from 15:00 on November 20 to 24:00 on November 30 (UTC+8). During the campaign, there will be opportunities to receive PYTH token airdrops for registration, deposit, and trading.
Cryptocurrency analyst: Backpack Exchange's total assets are now $27.3 million, mainly in SOL
21co analyst Tom Wan disclosed some latest data about Backpack Exchange on X platform: the total assets of the platform are 27.3 million US dollars, including 437,000 SOL and 1.21 million USDC. In addition, there are 1.1 million PYTH on the platform.
Bithumb has launched HIFI KRW trading pairs.
On November 21st, according to official sources, the South Korean cryptocurrency exchange Bithumb announced the launch of HIFI token KRW trading pairs, which will begin trading at 12:00 local time.On November 21st, according to official sources, Bittrex Global announced that it will terminate all of its operations. Starting from 0:00 on December 5th, 2023 Beijing time, all trading activities on Bittrex Global will be disabled. After this date, customers will only be able to withdraw their assets during the liquidation process.
Bittrex states that all funds and tokens on the Bittrex Global platform are safe and reliable. It strongly recommends that all users log in to their accounts and withdraw their assets as soon as possible. However, Bittrex's withdrawal service will not support USD withdrawals, and users will need to convert all USD balances to euros or cryptocurrencies for withdrawals.
Viewpoint Data
Blur founder: NFT field needs Layer 2, has raised $40 million for Blur ecosystem developmentOn November 21st, Pacman, the founder of Blur, posted on social media that the two biggest opportunities for NFTs are reducing transaction costs and institutional-level perpetual rights. Gas fees for NFT transactions have already cost hundreds of millions of dollars, and perpetual contract trading volume is six times that of spot trading, both of which require L2 solutions.
At the same time, he pointed out that the Blur protocol has another issue. There is $100 million TVL in the Blur pool that is not earning revenue. This means that Blur users are losing money due to depreciation. With further research, Pacman realized that almost every on-chain dapp has this problem.
So, after conducting in-depth research on Layer 2, it was realized that there is a method that can immediately solve all of these problems. That is, the new L2 that provides native revenue to dapps and users will allow the Blur ecosystem to avoid asset depreciation, reduce NFT transaction costs, and launch NFT perpetual rights. To this end, Pacman has created a new Layer 2 - Blast.
According to a source, earlier this month, Galaxy Digital collaborated with Jing Shun to hold a conference call with approximately 300 investment professionals to discuss the allocation of Bitcoin as the first Bitcoin spot ETF is about to debut.
Bloomberg analyst: ARK Invest Bitcoin spot ETF initiator fee rate is 80 basis points
Bloomberg analyst Eric Balchunas stated on his social media platform that the recently updated Bitcoin spot ETF application by ARK Invest has added a Sponsor Fee rate of 80 basis points, or 0.8%. This is the first Bitcoin spot ETF to disclose its Sponsor Fee rate.
Data: 71.28% of PYTH airdrops have been claimedAccording to data from Dune, 178,306,955 PYTH tokens, which account for 71.28% of the total airdrop amount, have been claimed.
Financing Express
Blur founder's Layer 2 network Blast completes $20 million financing, with participation from ParadigmOn November 21st, according to official sources, Blast, a Layer 2 network based on Optimistic Rollup, completed a $20 million financing round. The round was co-founded by Paradigm, Standard Crypto, eGirl Capital, and Mechanism Capital, with several angel investors including Andrew Kang, strategic advisor for Lido, Hasu, and The Block CEO Larry Cermak participating.
Blast indicates that the benchmark interest rate for existing Layer 2 is 0%, while Blast is the only Ethereum Layer 2 with native earnings in ETH and stablecoins. Specifically, Blast natively participates in ETH staking, and staking rewards will be returned to users and dapps on Layer 2. On Blast, users' balances will automatically compound and earn additional Blast rewards. Blast believes that this advantage alone can attract $20 billion in liquidity.
Kelly stated that the company is facing "increasing reputation pressure and a series of complex policy challenges" in the United States. He said that the company must "adjust its strategy, deploy more resources to address these challenges."
Bloomberg analyst: ARK Invest updates its Bitcoin spot ETF application again
Bloomberg analyst Eric Balchunas said that ARK Invest and 21Shares have once again updated their S-1 application for a Bitcoin spot ETF. Eric said, "This indicates that they are preparing for approval from the SEC."
Celsius bankruptcy restart plan hindered by SEC, requiring more asset information from all parties
On November 21st, according to Coindesk, the restart plan of the bankrupt CeFi crypto platform Celsius has been blocked under the supervision of the US SEC. Currently, there is a "tug-of-war" discussion between the SEC, the Celsius creditors committee, and Fahrenheit regarding the legacy asset information held by Celsius.Insiders say they believe the US SEC requires more information before making a decision, and the SEC wants to see the situation of all parts of the company.
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