Daily Legal News: Yuga Labs co-founder Greg Solano will resume his role as CEO, while the floor price of BAYC rises over 5% in a single day; Do Kwon will be extradited to the United States.
Top News:
1. BNB breaks through $380, with a 24-hour increase of over 8%.
2. Yuga Labs co-founder Greg Solano will resume his role as CEO, while the floor price of BAYC rose more than 5% in a single day;
3. Vitalik: It is worth adding some complex functions to L1 to reduce the code burden of L2.
4. Monkey Tilt has completed a $21 million financing round with participation from Polychain, Hack VC, and others.
5. Terra founder Do Kwon will be extradited to the United States.
Price Observation
BNB breaks through $380, with a 24-hour increase of over 8%
BlockBeats News, on February 22nd, according to OKX market information, BNB broke through $380 and is currently priced at $383.1, with a 24-hour increase of 8.02%.
BAYC floor price rose more than 5% in a single day, currently reported at 22.85 ETH
BlockBeats News, on February 22nd, according to Blur data, the floor price of NFT project BoredApeYachtClub (BAYC) rose by 5.30% in a single day, with a current price of 22.85 ETH. Earlier today, Yuga Labs co-founder Greg Solano announced in a post that he will resume his role as CEO of Yuga Labs, and a new company called "BAYC LLC" has been established as a subsidiary of Yuga, which will be responsible for all BAYC-related affairs. In the future, Greg hopes to liberate Yuga's BAYC team as much as possible, allowing them to execute their vision with more focus and flexibility.
BlockBeats News, on February 21st, according to OKX market data, altcoins followed the overall market trend and experienced a general decline. Previously strong high market value cryptocurrencies such as OP saw a drop of over 10% in the past 24 hours.
OP is currently priced at $3.62, with a 24-hour decrease of 11.98%.
NEAR is currently priced at $3.11 with a 24-hour decrease of 8.98%.
AVAX is currently priced at $36.44 with a 24-hour decrease of 6.68%.
SOL is currently priced at $101.71, with a 24-hour decrease of 6.69%.
STRK drops below $1.7 in a short time, falling more than 25% in a day
BlockBeats News, on February 21st, according to OKX market data, STRK fell below $1.7 in the short term, currently trading at $1.7083, with a daily decline of over 25%.
Transaction Tracking
ARK Invest sold nearly $6.6 million worth of Coinbase stock yesterday.
BlockBeats News, on February 22nd, Ark Invest Daily data showed that Cathie Wood's ARK Invest sold a total of 40,683 shares of COIN (Coinbase Global Inc) on Wednesday, February 21st, at a closing price of $162, worth about $6.59 million. Among them, the ARKK fund sold 31,747 shares of COIN, and the ARKF fund sold 8,936 shares of COIN.
BlockBeats News, on February 21st, according to @ai_9684xtpa monitoring, in the past 20 minutes, a certain whale has accumulated the purchase of 12,738 ETH (worth 36.9 million US dollars) through 1inch and Binance, with an average purchase price of 2,897 US dollars. As of now, the whale holds a total of 106,159 ETH, worth as much as 308 million US dollars.
BlockBeats News, on February 21st, according to ai_9684xtpa monitoring, DWF Labs has accumulated 233 million JASMY tokens worth $3.61 million to Binance in the past 45 minutes. The price of JASMY has dropped 8% since DWF's first recharge, but DWF still holds 367 million tokens.
DWF Labs deposited 1 million FET to Binance, worth $100,500
BlockBeats News, on February 21st, according to @ai_9684xtpa monitoring, two minutes ago, DWF Labs deposited 1 million FET to Binance, worth $1.005 million. FET, as an AI project, has risen by as much as 46% in the past seven days, with a current price of $0.986; DWF's address previously transferred 10 million FET from Binance in August 2023, at a cost of only $0.2, and currently holds 3.05 million FET with a floating profit of $2.39 million.
Project Updates
Kelp DAO has launched a point token KEP to introduce liquidity to EigenLayer points.
BlockBeats News, on February 21st, Inco, a modular blockchain developer focused on privacy protection, announced the completion of a $4.5 million seed round of financing and launched its first testnet, Gentry. The round was led by 1kx, with participation from Circle Ventures, GSR, Polygon Ventures, Robot Ventures, Alliance DAO, zkSync developer Matter Labs, and others. Inco founder Remi Gai stated that the round of financing used a simple structure of future equity agreements (SAFE) and token warrants, but refused to disclose the valuation.
Inco was established in August last year with the aim of bringing privacy protection to decentralized applications. It can be compared with modular blockchain projects such as Celestia and Lava, which focus on data availability and data access respectively, while Inco focuses on privacy protection. Inco uses fully homomorphic encryption technology to maintain the confidentiality of on-chain data while making it auditable. Inco plans to release its second testnet, Paillier, between the second and third quarters of this year, with the mainnet expected to launch in the fourth quarter.
Regulatory News
Terra founder Do Kwon will be extradited to the United States
BlockBeats news, on February 22nd, according to Protos, the Higher Court of Podgorica, Montenegro has approved the extradition of Terra founder Do Kwon to the United States.
A Texas-based cryptocurrency company sues SEC over digital asset jurisdiction issues.
BlockBeats News, February 22nd, according to Reuters, Lejilex, a cryptocurrency company in Texas, and the Crypto Freedom Alliance of Texas (CFAT), an industry group, filed a lawsuit against the US Securities and Exchange Commission (SEC), accusing the regulatory agency of exceeding its statutory authority in the field of digital assets and requesting the judge to rule that digital assets traded on exchanges do not constitute securities. Lejilex plans to launch the Legit.Exchange platform, which intends to list digital assets that the SEC has previously classified as securities in lawsuits against Coinbase and Binance. CFAT is asking the court to prevent the SEC from suing its members and stating that the agency's claims of jurisdiction over digital assets have made it more difficult to persuade Texas lawmakers to accept "wise policies". CFAT was established last year and its members include Coinbase and a16z crypto fund of venture capital firm Andreessen Horowitz.
Lejilex and CFAT argue that the SEC's classification of digital assets as "investment contracts" is incorrect because there is no ongoing commitment between them. They also request that the "major questions" doctrine be applied, which allows judges to invalidate administrative actions with "significant economic and political significance" unless Congress has explicitly authorized them. This lawsuit has been filed in a federal court in Fort Worth, Texas, bringing the struggle between the industry and regulatory agencies within the jurisdiction of the Fifth Circuit Court of Appeals, which has more than two-thirds of its judges appointed by Republican presidents and has become the preferred venue for challenges to the SEC under the Biden administration.
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