Daily Legal News: Ethereum's Dencun upgrade is expected to be activated on March 13th; 9 Bitcoin spot ETFs traded a total of over 2 billion USD yesterday.
Top News:
1. Ethereum Dencun upgrade is expected to be activated on the mainnet at 21:55 on March 13th.
2. Binance Labs invests in Babylon to support the development of Bitcoin collateralization;
3. Magic Eden has launched an Ethereum marketplace created in collaboration with Yuga Labs.
4. Stealing $4.5 billion worth of Bitcoin, the hacker became a key witness in a US government money laundering case.
5. Nine Bitcoin spot ETFs broke the total trading volume of 2 billion US dollars again yesterday, with BlackRock IBIT alone accounting for 1.3 billion US dollars, setting a record.
Price Observation
Bitcoin surges over 11% in 24 hours, breaking $57,000
On February 27th, according to OKX market data, Bitcoin rebounded and broke through $57,000, now priced at $57,107.39, with a 24-hour increase of 11.66%.
GALA surges above $0.04, up over 20% in 24 hours
On February 28th, according to OKX market data, GALA rose and broke through 0.04 US dollars, now priced at 0.04092 US dollars, with a 24-hour increase of over 20%.
AR surges above $19, with a daily increase of 19%On February 28th, according to OKX market data, AR rose above $19 and is currently priced at $19.112, with a daily increase of 19%. BlockBeats previously reported that Arweave released a public testnet, Arweave AO, yesterday, which is designed for social media and AI computing. In the future, the team plans to conduct multiple audits on Arweave AO before the final mainnet launch in 2024.
Aerodrome receives investment from Base Ecology Fund, AERO surges over 136% in the past 24 hoursOn February 27th, liquidity protocol Aerodrome announced that it has received investment from Base Ecological Fund led by Coinbase Ventures. The specific amount has not been disclosed, and the investment method is to purchase Aerodrome's native token, AERO. As of the time of writing, Aero Finance's AERO token is currently trading at $0.2303, with a 24-hour increase of 136.9%.
The meme coin sector is up across the board, with PEPE up over 50% in the past 24 hours.
On February 27th, according to market data, the meme coin concept sector saw a general rise. Among them:PEPE has seen a 24-hour increase of 51.39%, currently trading at 0.00000218 USD;
WIF's 24-hour increase reached 48.92%, currently trading at $0.5585 USD;
FLOKI has seen a 24-hour increase of 31.43%, currently trading at 0.00004776 USD.BONK 24-hour increase reached 19.58%, currently trading at 0.00001417 USD;
MEME 24-hour increase reached 16.19%, currently trading at $0.032655.
PEOPLE 24-hour increase reached 13.25%, currently trading at 0.03283 USD;
DOGE 24-hour increase reached 12.21%, currently trading at $0.09527 USD;
SHIB's 24-hour increase reached 10.66%, currently trading at 0.00001059 USD.
Transaction Tracking
Suspected Amber Group accumulates 3.16 million DYDX and 25.38 million BLUR
On February 27th, according to @ai_9684xtpa, it was suspected that the Amber Group address had accumulated 3.16 million DYDX and 25.38 million BLUR, with a total value of $30 million. The address received 200,000 DYDX worth $690,000 transferred from Binance one day ago and has been continuously receiving DYDX and BLUR tokens since April 2023. The transfer was made from the Amber affiliated address 0x011D...F4e27 40 minutes ago.
DWF Labs will purchase $10 million FLOKI tokens to support its ecosystem
On February 27th, DWF Labs announced that they will purchase $10 million worth of FLOKI tokens to support the FLOKI ecosystem. The acquisition will be carried out by the Floki finance department and will last for two years. Floki first announced their partnership with DWF Labs in May 2023, when they purchased $5 million worth of FLOKI tokens. Since then, they have helped promote the adoption of Floki's utility by facilitating its listing on major trading platforms, introducing key industry projects, and publicly supporting Floki's progress and achievements.
Financing Express
PlayMakers completed a $1.5 million Pre-Seed round of financing, led by RockawayX
On February 27th, according to VentureBeat, Web3 game UGC platform PlayMakers announced the completion of a $1.5 million Pre-Seed round of financing, led by RockawayX, with participation from angel investors including Sébastien Borget, Vincent Hart de Keating, and Hugues Ouvard. PlayMakers provides developers with a perfect and easy-to-implement solution to collect, plan, and integrate player creations, turning players into creators in Web3 games.
Web3 infrastructure Validation Cloud completes $5.8 million financing, led by Cadenza Ventures
On February 27th, according to Decrypt, Web3 data flow and infrastructure company Validation Cloud announced the completion of a $5.8 million external financing round, led by Cadenza Ventures, with participation from Blockchain Founders Fund, Bloccelerate, Blockwall, Side Door Ventures, Metamatic, GS Futures, and AP Capital.
Validation Cloud has built a proprietary system architecture, including several significant breakthroughs in Web3. It is a fast, scalable, and intelligent global platform that provides users with staking, node APIs, and data. Many people refer to the company as the "Cloudflare of Web3," paying tribute to Cloudflare's pioneering work in expanding infrastructure for Web2, which brought high-throughput applications such as video streaming to the masses and created trillions of dollars in market value.
Layer 1 Network Initia Completes $7.5 Million Financing, Led by Delphi Ventures
On February 27th, Layer 1 blockchain Initia completed a $7.5 million financing round, led by Delphi Ventures and Hack VC, with participation from Nascent, Figment Capital, Big Brain, and A.Capital. Angel investors include anonymous crypto trader Cobie, DCF God, Split Capital co-founder Zaheer Ebtikar, Fiskantes, WSB Mod, and Celestia COO.
Initia is currently running on a closed testnet. Some projects have built DeFi applications on the testnet and plan to officially launch after the incentive testnet, which is scheduled to launch in early April. Once any issues are resolved, the project will launch its mainnet, with a preliminary plan to launch in the second quarter. BlockBeats previously reported that on October 12, 2023, the developers of Layer 1 network Initia announced today that they have received pre-seed investment from Binance Labs, with specific funding amounts and more details yet to be disclosed.
Binance Labs invests in Babylon to support the development of Bitcoin collateralization
On February 27th, Binance Labs announced its investment in Babylon to support the development of Bitcoin collateralization. He Yi, co-founder of Binance and head of Binance Labs, said, "Bitcoin collateralization has introduced an important new use case to the industry, marking a significant step towards the integration of Bitcoin and proof-of-stake economics. Binance Labs' investment in Babylon represents our commitment to supporting innovative projects that lead the Bitcoin narrative and advance its use cases."
The Babylon chain is built using the Cosmos SDK and provides Bitcoin timestamp services for PoS chains, serving as a control plane for synchronization between the Bitcoin network and PoS chains. It is responsible for facilitating BTC staking, final round participation, and tracking validator staking information, ultimately serving as a channel between the Bitcoin PoW world and PoS chains.
Regulatory News
On February 28th, according to Bloomberg, Ilya Lichtenstein, a hacker who stole billions of dollars from the cryptocurrency exchange Bitfinex, appeared in court as a cooperating witness for the US government in a trial against the Bitcoin Fog mixing service, revealing details of how he carried out one of the largest Bitcoin thefts in history. Lichtenstein revealed that he had accessed the Bitfinex system for months and hacked into personal accounts of other cryptocurrency exchanges such as Coinbase and Kraken.
Last year, he and the self-proclaimed "Wall Street Crocodile" social media rapper's wife admitted to money laundering related to hacking. Liechtenstein testified in court that he used a service called Bitcoin Fog up to ten times to launder money. US prosecutors charged Roman Sterlingov with operating this mixing service, which was accused of receiving tens of millions of dollars from dark web markets selling illegal drugs. Liechtenstein's testimony further revealed the motives behind the 2016 Bitfinex hack and how he successfully laundered millions of dollars. The US government alleges that the couple conspired to launder $4.5 billion in stolen bitcoins, of which the government has seized $3.6 billion, making it the largest financial seizure in history.
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