headlines

headlines

BTC breaks through 24900 USDT in the short term, ETH breaks through 1700 USDT
Odaily’s Ouyi OKX market shows that BTC continues to rise, breaking through 24,900 USDT for a short time, and the highest rose to 24,911.9 USDT; it is currently reported at 24,894.1 USDT, an increase of 9.15% in 24 hours;

ETH broke through 1700 USDT and is now at 1706.49 USDT, an increase of 8.05% in 24 hours.

Odaily News Coinglass data shows that in the past 24 hours, the entire network has liquidated 170 million US dollars, of which ETH liquidated 22.01 million US dollars and BTC liquidated 38.58 million US dollars.

Industry news

Industry news

People familiar with the matter: Coinbase will continue to cooperate with JP Morgan Chase
Odaily News According to two people familiar with the matter, Coinbase will continue to cooperate with JPMorgan Chase amid the increasing regulatory scrutiny.

Coinbase lists its banking partners on its website, which include Signature Bank, JPMorgan Chase, Cross River Bank, Silvergate Bank and Pathward.

Soros' fund to increase exposure to crypto firms like MicroStrategy by end of 2022
Odaily News Billionaire George Soros's fund Soros Fund Management increased its exposure to some encryption companies before the end of last year, although the nature of these transactions is not clear.

According to a 13 F filing with the U.S. Securities and Exchange Commission (SEC) on Dec. 31, the fund purchased $39.6 million worth of convertible bonds from crypto mining firm Marathon Digital Holdings.

Hedge Fund Armistice Capital Takes 9.9% Stake in Bitcoin Miner Stronghold Digital
Odaily News A document shows that hedge fund Armistice Capital holds a 9.9% beneficial ownership stake in Bitcoin mining company Stronghold Digital Mining.

Armistice Capital holds an existing stake in the company, but it was not clear how much it held before today's filing.

Binance: Started "burn and release" process to facilitate Binance-pegged Token withdrawals on its origin network

Odaily News Binance announced that in order to promote the withdrawal of Binance-pegged Token on its original network, Binance started a burn-and-release process: first burn the Binance-pegged USDC on the BNB Chain; The USDC on the market will be released to the wallet for users to withdraw cash. Most recently, Binance did this for USDC (ERC 20 ) withdrawals on February 13.

Former FTX Executive Made Millions for His Foundation Through FTT Insider Trading
When FTX launched, the exchange offered Donnelly and other early employees a trade. Six months later, after the FTT token began public trading in 2020, the foundation sold the token on the open market and made millions. Notably, Donnelly was still an employee of FTX at the time. (Cryptopotato)

Project News

Project News

Elon Musk tweeted with the word "Floki" in the picture, FLOKI rose nearly 45% in 24 hours
Odaily News Elon Musk released a series of tweets to introduce "Twitter's new CEO", with a picture of a Shiba Inu with the word "Floki" in the picture.

Affected by this tweet, the Ouyi OKX market shows that FLOKI has risen in a short period of time, and is now at 0.0000328 USDT, a 24-hour increase of 44.7%.

FTX Investors File Class Action Suit Against Sequoia Capital, Thoma Bravo, Paradigm, and More for Promoting FTX Legitimacy
Odaily News FTX investors have filed a class action lawsuit against Sequoia Capital, Thoma Bravo, Paradigm and other venture capital and private equity institutions, accusing them of previously promoting the legitimacy of FTX, and the collapse of FTX caused billions of dollars in losses.
The class-action lawsuit, filed Tuesday on behalf of investors, alleges that the institutions engaged in a promotional marketing campaign in 2021 to tout their own hundreds of millions of dollars invested in the FTX entity. Investors say this adds "legitimacy" to the entity. Investors accused the agencies of violating state and federal laws, including misrepresentation, false advertising and civil conspiracy.

Paradigm had no immediate comment, while Sequoia Capital and Thoma Bravo did not immediately respond to requests for comment. (Bloomberg)

Justin Sun’s address withdraws 300 million BUSD from Binance and transfers it to Paxos Treasury
Odaily News Lookonchain monitoring data shows that Justin Sun’s relevant address withdrew 300 million BUSD from Binance and transferred it to Paxos Treasury.

According to previous reports, Whale Alert data showed that nearly 300 million BUSD was transferred out of Binance Exchange, and there were a total of 3 transfer transactions, each with 99,999,997 BUSD, all transferred to unknown wallets starting with 0x 9 f 84 address. Then the address transferred a total of 299, 999, 991 BUSD to the unknown wallet address starting with 0x 3 fda.

Celsius Plans to Sell Retail Platform and Mining Operations to NovaWulf

Odaily News Celsius Network's debtors have filed a sale plan with the US Bankruptcy Court for the Southern District of New York. The plan is part of the overall restructuring plan of Celsius’s retail platform and mining business. The core is to reach an agreement in principle with digital asset investment company NovaWulf Digital Management to sell Celsius’ retail platform and mining business to NovaWulf.

Fee revenue on the Ethereum chain exceeded $9.7 million in the past 24 hours

Odaily News Cryptofees.info data shows that in the last 24 hours, the fee income on the Ethereum chain was 9,766,194.91 US dollars, the fee income on the Uniswap chain was 3,017,273.23 US dollars, the fee income on the GMX chain was 797,887.21 US dollars, and the fee income on the Bitcoin chain was 585236.48 US dollars, the BNB Smart Chain chain fee income is 543256.21 US dollars, the SushiSwap chain service fee income is 338979.68 US dollars.

CZ: Binance is not a stablecoin issuer, BUSD is not a good business for us

Odaily News CZ spoke on Binance's official Twitter Space and said that after the US regulatory crackdown, the cryptocurrency industry may move away from stablecoins linked to the US dollar and even re-examine algorithmic stablecoins. The current pressure on stablecoins is considerable, which will shrink the USD stablecoin market, so the industry is exploring other options. “We will see more stablecoins based on the euro, yen, Singapore dollar.”

Arthur Hayes currently has the largest personal GMX token reserve
Odaily News Former BitMEX CEO Arthur Hayes shared his reasons for including GMX in his investment portfolio. He said that in terms of trading volume, GMX is currently the second largest DeFi derivatives platform, and most importantly, GMX token economics provides attractive returns.

Arthur Hayes currently has the largest personal GMX token reserve, holding 200,580.22 tokens worth over $15 million, according to Dune data. In comparison, Binance, the leading centralized exchange by trading volume, holds approximately 236,167.70 GMX on behalf of all its clients. (The Defiant)

El Salvador plans to open a bitcoin embassy in Texas
Odaily News El Salvador's ambassador to the United States, Milena Mayorga, tweeted that he had discussed with Joe Esparza, the deputy secretary general of the Texas government, the opening of a second Bitcoin embassy and the expansion of trade and economic exchange projects.

It is reported that in October 2022, El Salvador will open its first Bitcoin embassy in Lugano, Switzerland.

Odaily News On February 15 local time, Twitter CEO Elon Musk stated at the Dubai World Government Summit via video link that he plans to step down as Twitter CEO by the end of 2023 and find a successor. Elon Musk said Twitter needs to stabilize its operations, including its financial health and product roadmap, before he steps down.

FTX Event Tracking

FTX Transfers $7.7 Billion of Bahamian Assets to FTX's U.S. Entity Before Bankruptcy File

FTX Transfers $7.7 Billion of Bahamian Assets to FTX's U.S. Entity Before Bankruptcy File
FTX transferred $7.7 billion of the crypto firm’s Bahamian assets to FTX’s U.S. entities before filing for bankruptcy last year, a Delaware bankruptcy court heard on Wednesday.

The court-appointed Bahamas joint provisional liquidators said $5.6 billion was transferred from Bahamas-based FTX Digital’s escrow account to U.S. entity FTX Trading, and another $2.1 billion was transferred to FTX’s U.S. trading arm, Alameda Research.

Judge Rejects Appointment of Independent Examiner in FTX Bankruptcy
Odaily News At a hearing on Wednesday, a U.S. judge rejected a motion to appoint an independent examiner to investigate the bankruptcy of FTX.

Judge John Dorsey of Delaware Bankruptcy Court sided with FTX's representatives, who previously argued that there was no need to appoint an examiner "to conduct another costly investigation that would slow down the progress of these cases."

People familiar with the matter: Modulo Capital founder is in talks with FTX bankruptcy lawyers to return $400 million investment
Regulatory Trends

Regulatory Trends

South Korean Regulators Plan to Investigate Local Exchanges’ Crypto Staking Services

South Korean Regulators Plan to Investigate Local Exchanges’ Crypto Staking Services
Odaily News South Korea’s financial watchdog is planning to review local exchanges’ cryptocurrency staking services following the U.S. SEC’s recent crackdown on crypto staking services.

South Korean authorities told local media News 1 that cryptocurrency staking services have been scrutinized overseas and that local services will also be scrutinized. They did not disclose a timeline for the investigation. (Forkast)

European Commission Officially Launches European Blockchain Regulatory Sandbox
Odaily News With the support of the Digital Europe Initiative, the European Commission officially launched a regulatory sandbox on Tuesday (February 14) local time to explore innovative use cases involving distributed ledger technology (DLT). Test its products and services while cooperating with relevant regulators.

It is reported that the regulatory sandbox will support 20 projects during 2023-2026, including public sector use cases of the European Blockchain Service Infrastructure (EBSI), and the first call for projects will close on April 14, 2023. (eubusiness)

U.S. SEC Proposal Could Ban Investment Advisors from Custodian Assets at Crypto Firms
Odaily News The U.S. Securities and Exchange Commission (SEC) is set to propose a rule that would effectively require registered investment advisors to store digital assets outside of the cryptocurrency industry.
The rules, scheduled to be proposed by the U.S. Securities and Exchange Commission (SEC) on Wednesday, would expand the agency's existing rule that investment advisers need to place client funds and securities in "qualified custodians" for safekeeping. The new version, if approved, would add protection requirements for any assets entrusted to investment advisers, including cryptocurrencies.

Currently, cryptocurrency trading and lending platforms often provide custody services for cryptocurrency clients, but they are not “qualified custodians” under the rules. According to the SEC, an appropriate custodian is usually a chartered bank or trust company, a broker-dealer registered with the SEC, or a futures commission merchant registered with the Commodity Futures Trading Commission (CFTC).

US Senators Plan to Reintroduce Legislation Restricting Cryptocurrencies in 401(k)s

Odaily News U.S. Senator Tommy Tuberville (R-Ala) plans to reintroduce legislation on Wednesday that would limit employers and investment firms from offering cryptocurrencies as part of 401(k) retirement plans. The legislation, which targets the Labor Department, will be introduced in the House by Rep. Byron Donalds (R-Fla), the report added. (CoinDesk)

SushiSwap to Launch Decentralized Brand Licensing and Incubator Sushi Studios

Project News

SushiSwap to Launch Decentralized Brand Licensing and Incubator Sushi Studios

Odaily News SushiSwap announced that it will launch Sushi Studios, a decentralized brand authorization and incubator framework. After the launch, external product teams will be able to use the Sushi brand and develop agreements without the need for funds from the Sushi DAO Treasury.

Odaily News SushiSwap announced that it will launch Sushi Studios, a decentralized brand authorization and incubator framework. After the launch, external product teams will be able to use the Sushi brand and develop agreements without the need for funds from the Sushi DAO Treasury.

According to Odaily’s Whale Alert data, Paxos Treasury destroyed 117,401,943 BUSD at 07:54:47 UTC on February 15. With the continuous burning, the market value of BUSD has shrunk sharply in the past two days. According to Coingecko data, the market value of BUSD was about 16.204 billion US dollars on February 13, and it is currently about 15.203 billion US dollars, a decrease of more than 1 billion US dollars.

The Graph has completed the first phase of the Arbitrum One expansion plan, index rewards will be enabled in the second phase

Final Fantasy developer Square Enix to launch NFT game on Polygon

Final Fantasy developer Square Enix to launch NFT game on Polygon

Odaily News Square Enix, the game developer with game IP such as "Final Fantasy" and "Dragon Quest", announced today that it will launch the NFT-based game Symbiogensis on Polygon. At present, Square Enix has shown in-game NFT items including dragon tarot cards and monster storybooks, but has not yet shared specific details about the relevant costs and how NFT items will affect the game experience.

Odaily News Square Enix, the game developer with game IP such as "Final Fantasy" and "Dragon Quest", announced today that it will launch the NFT-based game Symbiogensis on Polygon. At present, Square Enix has shown in-game NFT items including dragon tarot cards and monster storybooks, but has not yet shared specific details about the relevant costs and how NFT items will affect the game experience.

Fan NFT platform Freeper will airdrop token FPT to creators

According to official news from Odaily, Freeper will launch the FPT trading airdrop in Q2 of 2023, aiming at airdropping the token FPT to creators and traders. Dozens of Web3 brands have issued CFN (Core Fan NFT) on Freeper, and are currently preparing for a new CFN joint release event.

Investment and Financing

Investment and Financing

Decentralized derivatives exchange NFEX completes $3 million seed round led by ABCDE Capital

Odaily News Decentralized derivatives exchange NFEX completed a $3 million seed round of financing, led by ABCDE Capital, with participation from Amber Group and Firestone Ventures. (News Bitcoin)

Crypto index startup Alongside completes $11 million financing, led by a16z

In January of this year, Alongside launched its first product, the Alongside Crypto Market Index (AMKT), which allows people to gain broad access to the entire crypto asset market through a single token. (TechCrunch)
In January of this year, Alongside launched its first product, the Alongside Crypto Market Index (AMKT), which allows people to gain broad access to the entire crypto asset market through a single token. (TechCrunch)

Aura Network Closes $4M Pre-Series A Funding Led by Hashed and Coin 98

Aura Network Closes $4M Pre-Series A Funding Led by Hashed and Coin 98

Odaily news Cosmos ecological NFT blockchain Aura Network completed a pre-A round of financing of 4 million US dollars, Hashed and Coin 98 led the investment, GuildFi, Istari Ventures, K 300 Ventures participated in the investment. This round of financing will be used to continue to promote the ecological development of Aura Network.

Blockchain Security Platform Ironblocks Closes $7M Funding Led by Collider Ventures and Disruptive AI