Rhythm Morning News | ETHFI rose to hit a record high of $5.5; KuCoin and its two founders were indicted for violating U.S. anti-money laundering laws and other crimes
Selected news:
1. Bitcoin fell below US$70,000
2. ETHFI rose and touched US$5.5, reaching a new all-time high
3. KuCoin and its two founders were indicted on charges of violating U.S. anti-money laundering laws
4. Vitalik published an article "Supporting decentralized staking through more anti-correlation incentives" 》
5. Analysis: Hong Kong may adopt the opposite method to the United States to create a spot Bitcoin ETF
Price Observation
On March 26, according to OKX market data, Bitcoin fell below US$70,000, and its 24-hour increase narrowed to 0.93%.
AERO Breakthrough 1.7 US dollars, a 24-hour increase of over 47%
On March 26, according to market data, AERO exceeded 1.7 US dollars and is now quoted at 1.7406 US dollars, with a 24-hour increase of 47.15%.
WEN short It broke through 0.00042 US dollars in a short time, setting a record high
On March 26, according to market data, WEN broke through 0.00042 US dollars in a short time, setting a record high. It is currently quoted at $0.00040089, with a 24-hour increase of 17.47%.
ETHFI rises Hitting $5.5, a record high
On March 27, according to OKX market data, ETHFI rose to touch $5.5, and is now quoted at $5.489, with a 24-hour increase of 22.13%, setting a record high.
MicroStrategy's stock price briefly exceeded 1900 US dollar, a record high
On March 27, according to market information, MicroStrategy's stock price briefly exceeded US$1,900 and is now trading at US$1,876.99, a record high.
Transaction Tracking
March 26 On Sunday, a Bitcoin address that had been dormant since 2019 transferred $6 billion worth of Bitcoin over the weekend. It is unclear who owns the address, and it does not appear to be associated with the trading platform. According to Arkham data, the address received 94,500 Bitcoins (approximately $6.05 billion) in 2019. It was only at the end of last week that these positions were split and sent to new addresses. There are currently only 1.4 Bitcoins (approximately $99,000) left in the address. The funds were initially split into two tranches and held at two different addresses. One amount is then transferred to a new address, and another amount is split again and transferred to two other addresses. The funds are now held in three addresses, one of which contains $5 billion in Bitcoin.
Grayscale Transferring 735.609 BTC to Coinbase Prime
On March 26, according to Arkham data, the Grayscale address transferred 735.609 BTC to the Coinbase Prime address 24 minutes ago. Also transferred 1000 BTC to the new address.
Two addresses Buying PUNDU made a profit of US$5.94 million in just 40 minutes
On March 26, according to @ai_9684xtpa monitoring, two addresses immediately bought PUNDU, a MEME project owned by DAO Maker, and made a profit of 31,113 SOLs worth US$5.94 million in just 40 minutes. The operation methods of these two addresses are highly consistent, and they are suspected to belong to the same person: Address 1: spent 17,285 SOL to buy 86.34 million PUNDU at a cost of 0.03803, and then sold them in batches to make a profit of US$4.08 million; Address 2: spent 17,283 SOL SOL bought 51.74 million PUNDU at a cost of 0.06346 and sold them in batches for a total profit of US$1.86 million.
Project News
On March 27, according to the official announcement , Blast ecological project Munchables announced that it has been attacked. It is tracking the flow of funds and trying to block transactions, and will update relevant information as soon as possible. BlockBeats previously reported that Paidun said that there seemed to be a problem with the Munchables locking contract, resulting in 17,400 ETH (approximately $62.3 million) being stolen.
On March 27, SlowMist founder Yu Xian posted on social media that "The Blast ecological project Munchables was stolen. 62.5 million U.S. dollars. According to the investigation by on-chain detective Zach , gain the trust of the entire project team, and strike when the time comes, without mercy. I'm afraid there are many victims, and SlowMist will follow up closely."
BlockBeats As previously reported, Paidun stated that there seemed to be a problem with the Munchables locking contract, resulting in 17,400 ETH (approximately $62.3 million) being stolen.
Injective releases its Bridge Ionic Upgrade to support one-click bridging with mainstream chains
On March 26, according to official news, Injective released an Ionic upgrade for its Injective Bridge to achieve interoperability and near-zero cost for users experience. The new Injective Bridge will unify one-click bridging of mainstream chains including Ethereum, Solana and Cosmos. Additionally, it features easy deposit functionality, comprehensive transaction history, and a transfer tracking mechanism.
In addition, from now on, Injective users can convert their existing "legacy" tokens to the new Wormhole Gateway standard via the revamped Injective Bridge. For users who previously bridged their tokens to Injective via Wormhole, the "LEGACY" suffix will be assigned. Migrating legacy tokens to a unified token standard can also be done in one click using Injective Bridge.
Avalanche Fund Will launch community funding program through Gitcoin
On March 26, the Avalanche Foundation is launching the Avalanche Community Funding Program, which encourages projects and developers to build in Avalanche’s growing ecosystem . The Foundation will partner with Gitcoin, the largest and longest-running Web3 funding program, to distribute grant funds to match community donations and support crowdfunding within the ecosystem.
For the first time, the Avalanche community can now play a direct role in deciding which projects the foundation funds. Submissions for the first round of funding will open on March 26. Any team or individual who has contributed to the Avalanche ecosystem in the past or plans to contribute in the future is eligible to apply. Avalanche Community Grants will occur in multiple rounds, each with its own criteria, deadlines, and funding limits. Each round will leverage the Gitcoin grant stack and a combination of secondary and retroactive funding to optimize the grant program.
Optimism will allocate more than 3 billion US dollars fund its blockchain builders
On March 27, according to Cointelegraph, the Ethereum Layer 2 expansion network Optimism will reserve Optimism (OP) tokens worth US$3.3 billion. Awarded by its community to projects or individuals deemed to have made significant contributions to the blockchain ecosystem. On March 26, Optimism Collective, the chain’s governance and community department, stated that part of the 850 million OP will be distributed in four rounds starting in May and continuing until the end of 2024. Of these, 40 million OP, worth approximately $158 million, have been distributed over the past three rounds. Blockchain developers will launch the fourth round of Optimism’s Retroactive Public Goods Funding (RPGF).
Among them, the community will vote to decide which projects receive tokens based on the value demonstrated by the projects. Rounds five through seven will reward contributors to infrastructure, governance, and development tools, and "everyone, everywhere who works hard to improve Optimism" is eligible to receive these funds. The final round will end in mid-November.
BadgerDAO announced eBTC has been officially launched
On March 27, according to the official announcement, BadgerDAO announced that eBTC has been officially launched. BadgerDAO has partnered with liquidity staking platform Lido to launch eBTC, a synthetic Bitcoin derivatives token backed by Ethereum.
Angle Protocol Launch of USD Stable Coin USDA
On March 27, according to official news, DeFi protocol Angle Protocol announced the launch of the USD-pegged stable currency USDA. Angle’s USDA is backed by tokenized versions of U.S. Treasuries and Treasuries, and token holders who stake their USDA on the Angle Protocol are automatically rewarded from the token’s reserve asset earnings and revenue from the protocol’s lending platform.
Juice Finance: Positive evaluation of Munchables Vulnerability, the deposited wETH is not affected
On March 27, Blast ecological DeFi protocol Juice Finance officially stated that "the Munchables vulnerability is being evaluated and all options on how to transfer funds are being evaluated." . The hacker stole ETH, but his deposited wETH was not affected. All Juice users’ wETH is still within the Munchables contract. All other Juice Vault and Core Juice systems are not affected."
CeFi Information
Franklin Templeton launches BTC/ETH separate managed account
On March 27, Blockworks reported that the fund manages more than US$1 trillion in assets Giant Franklin Templeton has launched the "Franklin Templeton Digital Asset Dynamic BTC/ETH" separately managed account (SMA). SMA provides a nuanced approach to investing that allows investors greater customization in asset diversification and tax optimization strategies. In the crypto space, SMA will provide investors with a range of risk exposures beyond Bitcoin. Able to invest in the 10 to 15 largest digital assets, the Franklin Templeton Digital Asset Core Cap SMA follows a similar strategy but limits allocations to BTC and ETH to 25% of the portfolio each.
On March 27, according to The Block, Tidal Investments and Hashdex Asset Management announced on Tuesday that they would trade their products in the United States. Bitcoin spot ETF, and renamed Hashdex Bitcoin futures ETF to Hashdex Bitcoin ETF (DEFI).
The two companies said in a statement that they would rename the ETF "DEFI" as its trading code, corresponding to its conversion to allow the ETF to hold spot Bitcoin and track new The benchmark index has an effective date of March 27. The ETF expects to invest at least 95% of the fund's assets in spot Bitcoin, with up to 5% of the remaining assets invested in Bitcoin futures contracts traded on CME Group and cash or cash equivalents. The fund had total net assets of $11.16 million as of March 27, according to the Hashdex website.
On March 27, 10x Research officially stated that it will launch an altcoin investment portfolio model , for holding positions that can generate 10x returns in 6 to 12 months. 10x Research will continually update positions based on fundamental factors such as network usage, Total Value Locked (TVL), revenue trends, etc., with the goal of finding those tokens that will outperform over the medium to long term and start to have exceptional network activity and usage .
Coinbase will SHDW and NEON included in currency listing roadmap
On March 27, according to official news, Coinbase listed the assets Shadow Token (SHDW) and Neon EVM (NEON) on the Solana blockchain. Enter the currency listing roadmap.
Financing Express
OKX Ventures announced its investment in StakeStone
On March 26, OKX Ventures announced its investment in the full-chain liquidity distribution network StakeStone. The two parties will establish a strategic partnership. Stakestone focuses on establishing STONE as a standard for full-chain liquid assets and building a liquidity market at the application layer. By continuously integrating emerging underlying assets in rapidly changing markets, including ETH Stake, Restake, and innovative revenue streams at the consensus layer, and redistributing STONE across multiple ecosystems, StakeStone becomes the long-term infrastructure for liquidity.
On March 26, according to The Block, the encrypted entertainment platform MyPrize completed two rounds of financing totaling US$13 million. The pre-launch valuation reached US$140 million. The first round of funding, $5 million, closed last October, and the second round, $8 million, closed this month.
Both rounds of financing are structured as equity with token warrants, led by Dragonfly and Boxcars Ventures respectively, with participation from a16z Scout, Mechanism Capital, Arrington Capital, Breed VC, JST Capital, 2 Punks Capital and others participated in the investment. Angel investors including Luca Netz of Pudgy Penguins, Peter Smith of Blockchain.com, Jeff Feng of Sei Labs, Steve Rosenthal and Spencer Noon of Jack Entertainment participated in the round. MyPrize is a Web3 gaming startup that also supports streaming content. It recently launched a rewards program that gives early adopters points called XP.
On March 26, according to the official announcement, BEVM Ecosystem’s first CDP stablecoin protocol Satoshi Protocol completed its seed round Financing, jointly led by Web3Port Foundation and Waterdrip Capital, with participation from BEVM Foundation, Cogitent Ventures, Statoshi Lab, MH Ventures’ GP/BSCNews Lianchuang, MoveBit, Supremacy and other institutions. Satoshi Protocol has launched the Bitcoin Layer2 solution BEVM testnet since the beginning of March. More than 80,000 addresses have been minted for the creation of NFT. During the testnet period, all the limited 25,000 OATs have been distributed. In 2 weeks, a total of more than 100,000 addresses have participated. Currently, the protocol It will be officially launched on the mainnet in the near future.
Chain game developer Gunzilla Games Completed US$30 million in financing, led by CoinFund and others
On March 26, chain game developer Gunzilla Games completed US$30 million in financing. This round of financing was jointly led by CoinFund and Avalanche Blizzard Fund . Gunzilla Games also said in the statement that its "total $30 million" financing includes "a $10 million strategic token financing," participation from Republic Capital and Morningstar Ventures, and "previously unreported staking and node validator sales." .
The new funding will support the development and launch of Off the Grid, a free-to-play battle royale video game planned for PlayStation, Xbox and PC published on. Gunzilla Games says the new third-person shooter video game "deploys the revolutionary concepts of full asset ownership and a player-driven in-game economy." BlockBeats previously reported that on August 9, 2022, Gunzilla Games announced the completion of US$46 million in financing. This round of investment was led by Republic Capital, with participation from Griffin Gaming Partners, Animoca Brands, Jump Crypto and others.
On March 26, Automated Liquidity Exchange (ALEX), a company developing the Bitcoin financial layer, announced the completion of US$10 million in strategic financing Strategic financing. This round of financing was led by Spartan Capital, with participation from CMS Holdings, DACM, DWF Labs, Foresight Ventures, G-20 Group, Ouroboros Capital, Summer Capital, Cultur3 Capital and EVG.
New funding will continue development of the Bitcoin financial layer on Stacks. ALEX creates a Bitcoin-specific decentralized finance layer through Layer2, cross-chain bridges, oracles, and other infrastructure.
Web3 Basics Facilities 0G Labs completed a $35 million Pre-Seed round of financing, led by Hack VC
On March 26, Web3 modular infrastructure company 0G Labs announced the completion of a $35 million Pre-Seed round Financing, this round of financing was led by Hack VC, with participation from Alliance, Animoca Brands, Delphi Digital, Stanford Builders Fund, Symbolic Capital and OKX Ventures.
The new funding will be used to create a full-stack blockchain-based solution for training, deploying and running artificial intelligence models. One of the products being developed by 0G Labs is called "Uni-Chain", which is a Web3 architecture that seamlessly connects the network into a unified metaverse, and users can access users and services on any chain through a single wallet Trading.
On March 26, Blast ecological derivatives trading platform DTX announced the completion of angel round financing. The specific financing amount has not yet been disclosed. This round of financing was participated by Blast angel investors hype.eth, dingaling, FreeLunchCapital, Mr. Block, HongKongDoll, etc.
DTX won an award at the Blast Big Bang competition this year and supports over 100 trading pairs. Provides good liquidity and also provides a zero-slippage trading experience. DTX will provide users with 100% Blast Points, Blast Gold, and Gas Refund rewards. The "Starship" activity has also been launched. In addition to various points, users can also obtain DTX Fuel through transactions, and the fuel can be exchanged for platform tokens.
OKX Ventures strategically invests in the first modular AI chain’s data availability protocol 0G
March On the 26th, OKX Ventures announced the completion of its strategic investment in 0G. 0G (previously Zero Gravity) is a programmable high-speed data availability protocol for on-chain artificial intelligence scenarios. This decentralized protocol has large-scale and high concurrency characteristics and high security.
Whether it is in the scenario of large-scale application in the Web3 industry, or in the technical framework of the Ethereum main network upgrade Proto-Danksharding / EIP-4844, data availability Data Availability (DA) all plays a vital role.
Based on different storage scenarios, such as on-chain storage, off-chain execution and hardware node upgrades, there are many competing data availability solutions. The highlight of 0G is Reduce transaction costs by 10,000% and truly achieve high scalability.
On March 26, Reya Labs, the parent company of the modular L2 Reya Network, announced the completion of US$10 million in financing. This round of financing was funded by Coinbase Ventures, Wintermute, Fabric Ventures, Framework Ventures, Brevan Howard Digital, Amber Group and Robot Ventures participated.
The new funding will be used to fuel its liquidity generation activities (LGE) in April. Reya Network is committed to creating liquidity, capital efficiency and performance for DeFi traders and liquidity providers, and the first DEX on the network, Reya Perps DEX, is launching soon.
DI Ventures to MXC Foundation Strategic investment of US$10 million
On March 27, according to Decrypt reports, JDI Ventures, the DePIN investment fund of blockchain hardware manufacturer JDI Global, announced a strategic investment of US$10 million in MXC Foundation. . This significant investment is designed to drive the development of Ethereum’s most scalable decentralized physical infrastructure network (DePIN), solidifying MXC’s position in the decentralized technology space.
JDI’s investment in MXC includes a focus on DePIN tokens and plans to list these tokens on MXC’s AXS (native dApp), thereby expanding the reach of the network , and consolidate its position as the largest DePIN network in the Internet of Things (IoT) field. JDI’s latest investment in DePIN also includes DIMO, further diversifying its portfolio and strengthening its support for decentralized technologies.
On March 27, according to official news, RPG chain game Illuvium announced the completion of US$12 million in Series A financing, led by Arrington Capital, King River Capital, Animoca Brands and The Spartan Group jointly led the investment, with participation from GoldenChain, Arca, Selini Capital, Laser Digital, Polygon Ventures, 32-Bit Ventures, Yield Guild Games, N8.Capital, First.VIP and others.
Opinion data
Galaxy Digital announced full-year net profit of US$296 million in 2023
On March 26, digital asset financial services company Galaxy Digital announced a net profit of $296 million in its full-year financial results for 2023. This marks a significant change from the $1 billion loss in the same period last year, and the "crypto winter" is over. The company said in a statement: "Since the end of the fourth quarter of 2023, digital asset prices have changed significantly, and our business has benefited from increased market volatility and increased trading volume."
Tether: Expand strategic focus to the field of AI
a>On March 26, Tether announced that it will expand its strategic focus to the field of artificial intelligence. This major move highlights Tether’s commitment to improving the accessibility and efficiency of artificial intelligence and further solidifying its role as a shaping technology. The role of future pioneers. First, Tether Data plans to take the lead in developing open source, multi-modal artificial intelligence models, seamlessly integrate artificial intelligence solutions into market-driven products, and is committed to promoting the development of the field of open artificial intelligence. In addition, Tether Data also announced its global recruitment of AI-related talents.
Bernstein： BlackRock Tokenization Fund Brings Legitimacy to Public Blockchain
On March 26, Bernstein analysts said that BlackRock’s planned tokenization fund will provide Ethereum with Public smart contract chains such as Fangfang “bring legitimacy”. BlackRock launched its BUIDL tokenized private equity fund earlier this month, another move into the digital asset space following the launch of a spot Bitcoin ETF.
According to SEC filings, BUIDL is a company that invests in U.S. Treasury securities, repurchase agreements (short-term borrowing agreements for dealers in government securities) and cash of liquid funds, but no release date was provided. Analysts explained that Anchorage, Coinbase, BitGo and Fireblocks will be ecosystem partners that facilitate custody and settlement of digital assets, while BNY Mellon will facilitate interoperability with traditional markets by hosting fund assets.
On March 26, according to Cointelgraph, Bloomberg ETF analyst Rebecca Sin released the latest research report showing that Hong Kong is expected to achieve the creation and redemption of spot Bitcoin ETFs in the second quarter of this year, which may be a significant market. Opportunity to significantly increase the assets under management (AUM) and trading volume of Bitcoin ETF issuers in the region. The report stated that Hong Kong’s goal may be to use physical Bitcoin to create an ETF, which is completely different from the United States. The United States only allows the use of cash, that is, “cash in, Bitcoin ETF out”, while Hong Kong’s is “Bitcoin in, ETF out”.
Bakkt 2023 The annual net loss was US$226 million, a decrease of 89% from the previous year
On March 26, the digital asset company Bakkt released its financial report. Total revenue in 2023 increased to US$780 million, but the net loss was US$226 million. billion, net loss decreased by 89% compared with the previous year. Bakk attributed its revenue growth from $56 million in 2022 to the successful acquisition and integration of Bakkt Crypto (formerly Apex Crypto) last April. However, the platform’s operating expenses surged to over $1 billion due to increased costs associated with crypto trading.
Vitalik Article "Supporting decentralized staking through more anti-correlated incentives"
On March 27, Ethereum co-founder Vitalik Buterin said on Warpcast, "Verification in the same cluster Are validators (e.g. same exchange, same user) more likely to miss proofs at the same time than unrelated validators? If so, can we adjust rewards to support decentralized staking? Probably yes."
In addition, Vitalik posted "Supporting decentralized staking through more anti-correlated incentives" saying, "A strategy to incentivize better decentralization in the protocol is the penalty correlation. That is, if a participant makes a behavioral mistake (including unexpected situations), the penalty they receive will increase with the number of other participants who make behavioral mistakes at the same time as them (measured by total ETH) Increase as it increases. This technology has been applied in Ethereum’s penalty mechanism.
However, edge-case incentives arising from highly specific attack scenarios that may never occur in practice may not be enough to motivate decentralization. This post proposes extending similar anti-correlated incentives to more “ordinary” failure cases, such as missing a proof, which almost all validators experience at least occasionally. 》
On March 27, Bloomberg reported, citing people familiar with the matter, that Bitdeer, a technology company in the blockchain and high-performance computing field, Technologies Group (NASDAQ: BTDR ) is in talks with private credit firms to raise approximately $100 million. The company is working with financial advisers to raise funds that will be used for projects such as expanding its Bitcoin mining capabilities, people familiar with the matter said. The people asked not to be named because they are private matters. Negotiations are said to be ongoing and details of the financing could change. A spokesman for Bitdeer declined to comment.
On March 27, Coinbase Vice President Max Branzburg posted on social media that, “In the future, Coinbase will store USDC balances on Base. Store more corporate and customer USDC balances. This allows Coinbase to manage and protect customer funds with lower fees and faster settlement times without impacting the Coinbase user experience. Coinbase is excited to continue moving its business on-chain, And hope other companies will follow Coinbase's lead."
Regulatory News
Portuguese data regulator bans Worldcoin from collecting biometric data for 90 days
On March 26, Reuters reported that Portugal’s data regulator CNPD had ordered Sam Altman’s iris scanning project Worldcoin to stop collecting biometric data for 90 days. The CNPD said the risk to citizens' data protection rights was high, justifying urgent intervention to prevent serious harm. The CNPD said more than 300,000 people in Portugal provided biometric data to Worldcoin. Worldcoin previously said it began a transition to "personal hosting" in March, which will give users control over their data, including deletion and any future use.
KuCoin and Two of its founders were indicted on charges of violating U.S. anti-money laundering laws
On March 26, the U.S. Attorney’s Office for the Southern District of New York issued a document stating that the cryptocurrency trading platform KuCoin and its two The founders were charged with bank secrecy laws and unauthorized transmission of funds. KuCoin and its two founders, Chun Gan and Ke Tang, violated U.S. anti-money laundering laws while growing KuCoin into one of the largest cryptocurrency exchanges in the world.
Damian Williams, U.S. Attorney for the Southern District of New York, and Darren McCormack, Acting Special Agent in Charge of the New York Division of the Department of Homeland Security Investigations, announced today that, An indictment was unsealed against KuCoin and its two founders, Chun Gan (alias "Michael") and Ke Tang (alias "Eric"), charging them with conspiring to operate an unlicensed currency transmission business and conspiring to Violated the Bank Secrecy Act by intentionally failing to maintain an adequate anti-money laundering (AML) program designed to prevent KuCoin from being used for money laundering and terrorist financing, failing to maintain reasonable customer identity verification procedures, and failing to submit any suspicious activity reports. KuCoin was also accused of operating an unlicensed money transmission business and material violations of the Bank Secrecy Act. Gan and Tang remain at large.
US CFTC Reaffirming that Ethereum is a commodity in the lawsuit against Kucoin
On March 27, according to The Block, the U.S. Commodity Futures Trading Commission (CFTC) once again asserted that Ethereum and several other cryptocurrencies Currencies are commodities, and regulators are locked in a tug-of-war as they vie for oversight of the vast digital asset industry.
Bitcoin, ethereum and litecoin are commodities, the derivatives regulator said on Tuesday in a legal case against the operators of cryptocurrency trading platform Kucoin, a copy of which press release shows. The CFTC’s assertion marks the regulator’s latest public attempt to identify blockchain’s native tokens as commodities within its regulatory scope. The U.S. Securities and Exchange Commission (SEC) has not yet explicitly declared Ethereum a security.
US SEC Seeking a $1.95 billion fine in a final judgment against Ripple
On March 27, CoinDesk reported that according to court documents, the U.S. Securities and Exchange Commission (SEC) has asked a New York judge Fined Ripple Labs $1.95 billion.
On Monday, Ripple Labs chief legal officer Stuart Alderoty posted on social media that the SEC was seeking such a fine, citing redacted versions of court documents. It will be released on March 26th. The SEC’s proposal asks the court to order Ripple Labs to pay $876 million in proceeds from the breach, $198 million in prejudgment interest and $876 million in civil penalties, for a total of $1.95 billion.
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