US SEC asks judge to fine Ripple Labs $2 billion
According to The Block, Ripple Labs chief legal officer Stuart Alderoty said that the U.S. Securities and Exchange Commission (SEC) has asked a New York judge to impose a $2 billion fine on the company, and relevant documents will be released on Tuesday. Alderoty said Ripple’s response will be submitted next month. But as we have seen before, the statements issued by the SEC are false, mischaracterized and misleading. The SEC is not faithfully enforcing the law, they are still bent on punishing and intimidating Ripple and the entire industry.
According to CoinDesk, Coinbase (COIN) said in a research report on Friday that the encryption market has recently paid more attention to the capital flow of spot Bitcoin ETFs rather than its fundamentals. After two months of net inflows, the spot Bitcoin ETF recorded a net outflow for the first time. From March 18 to March 21, the net outflow reached $836 million. During this period, the price of Bitcoin once fell below $63,000. In particular, the total outflow of Grayscale GBTC in four days was as high as 1.83 billion U.S. dollars. The specific reason for this is not clear to the market. Coinbase analysis said that possible sales pressure stemmed from the liquidation of the bankruptcy estate of Genesis Global, involving the sale of approximately 35.9 million GBTC shares. Coinbase stated that while it is currently not clear that the net outflow of GBTC is directly related to these sales, it can be inferred that the size and scope of the GBTC share changes are consistent with the latest developments in Genesis’ payment obligations. Considering that most creditor payments will be made in cryptocurrency rather than cash, the impact on Bitcoin’s market performance should ultimately be neutral.
Coinbase Cloud reports 50% of its validators are running on Nethermind
Coinbase Cloud recently announced on the X platform that it has completed its initial deployment, and currently about 50% of its validators are running on the Nethermind software. Previously reported on February 9, Coinbase Cloud added support for Ethereum execution clients Nethermind and Erigon, aiming to deal with the centralization risks and potential security risks caused by Geth accounting for more than 70% of execution layer clients. .
According to Global News Agency, South American gold miner Nilam Resources, Inc. (OTC PINK: NILA) announced today that it has signed a letter of intent (LOI) with Xyberdata Ltd to acquire 100% of the common shares of a special purpose entity that will It was established under the name MindWave and will hold 24,800 Bitcoins (worth over $1.7 billion at current prices). Nilam Resources, Inc. will issue newly authorized preferred class Series C shares in exchange for 24,800 Bitcoins at a discount to current market prices. Nilam Resources, Inc. will acquire 100% of the capital stock of MindWave, a Mauritian special purpose entity that will hold digital assets including 24,800 Bitcoins and other assets. These assets will be used as collateral to raise funds for investment in high-yield power generation projects. According to the company’s press release, the transaction brings assets worth more than $1 billion (USD) to Nilam Resources, following the current market rally and financial markets’ recognition of Bitcoin as the “gold standard” and future of digital transactions.
Ark Invest recently released an innovation platform white paper, which identified five "emerging general technology" innovation platforms, namely public blockchain, multi-omics sequencing, energy storage, robotics and artificial intelligence. They will transform and accelerate economic growth as today's most meaningful convergence technologies. Ark Invest said that once public blockchains are adopted on a large scale, all funds and contracts may be migrated to public blockchains, and the financial ecosystem may be reconfigured to adapt to the rise of cryptocurrencies and smart contracts. These technologies increase transparency and reduce the impact of capital and regulatory controls. As more assets become currency-like and businesses and consumers adapt to new financial infrastructure, digital wallets will become even more important.
Bakkt recently announced its fourth quarter and full-year financial results for 2023. Total crypto services revenue in the fourth quarter was $199.4 million, and related crypto costs and execution, clearing and brokerage fees were $197.8 million. Total revenue in the fourth quarter was $214.5 million and total operating expenses were $293 million. Total revenue for the year was $780.1 million. Looking forward to 2024, Bakkt expects total revenue for the year to increase significantly year-on-year, reaching US$3.292 billion to US$5.114 billion. Full-year operating cash flow usage in 2024 is expected to decline approximately 70% year-over-year to US$58 million to US$72 million. In addition, Bakkt is expected to launch institutional trading services in the third quarter of 2024.
The London Stock Exchange (LSE) issued market announcement N03/24, announcing that it will accept listing applications for Bitcoin and Ethereum cryptocurrency exchange-traded notes (Crypto ETNs) starting from April 8, 2024. This measure follows the N02/24 announcement issued on March 11, and it is expected that the first batch of cryptocurrency ETNs will be officially listed for trading on May 28, 2024. This move is aimed at attracting the largest number of issuers to participate in first-day trading. Issuers need to submit corresponding application materials to the exchange before April 15 and ensure that their base prospectus is approved by the Financial Conduct Authority (FCA). The London Stock Exchange also specifically stated that issuers that fail to meet listing requirements or submit late applications will not be able to participate in the first day of trading.
FTX to sell two-thirds of Anthropic stake for $884 million
Bankrupt cryptocurrency exchange FTX has struck an $884 million deal with more than two dozen buyers, including Abu Dhabi investors, to sell a majority stake in artificial intelligence startup Anthropic, the Wall Street Journal reported. is a major artificial intelligence company backed by companies like Amazon and Google. ATIC Third International Investment, affiliated with United Arab Emirates sovereign investor Mubadala, will buy its stake in Anthropic for nearly $500 million, FTX said in a court filing Friday in U.S. Bankruptcy Court in Wilmington, Delaware. shares.
Orderly Network will start launching points program next week and prepare for airdrop of tokens
Orderly Network, a decentralized trading infrastructure protocol, announced that it will conduct a token airdrop this summer and launch its points program at the same time. The points program, called “Merits,” will begin next week and is designed to reward users for participation, with points that will be converted into Orderly Network tokens when the token is officially launched. The campaign, called "The Road to The Order," is expected to run over ten cycles, each lasting about a week. The “Road to The Order” event is only available on Orderly’s Ethereum VM chains and traders, namely Arbitrum, Optimism and Polygon. Orderly Network emphasized that the total supply of tokens is one billion, and airdrops will account for a "significant proportion", mainly for the community.
CommEx, the buyer who had previously purchased Binance’s Russian business, officially announced today that it will gradually cease operations starting from March 25, 2024. The platform’s outage plan is as follows: Starting from 18:00 on March 25, Beijing time, new user registration, asset transfers, and acceptance of any form of deposits will be closed; on March 28, new positions in Simple Futures and Futures Trading will be stopped. Open, users can only close existing positions; on April 2, the release of new advertisements and the creation of new purchase orders on the P2P market will be stopped; on April 5, all P2P orders and advertisements will be automatically closed; on April 18, all Simple and traditional futures trading pairs will be automatically closed, and users need to close all open positions in advance to avoid automatic processing by the system; on April 23, the spot market will be closed, all open orders will be automatically canceled by the system, and the conversion function will also be deactivated; to On May 10, the official website will be closed and users will not be able to access any content related to CommEX.
CommEX emphasizes that after May 10, 2024, the remaining assets in the user account will be charged a 1% asset management fee. At the same time, CommEX reminds users to pay attention to safety, close positions promptly and withdraw assets to external wallets, and warns users not to handle fund withdrawal requests through unofficial channels such as phone calls, text messages or emails to avoid fraud.
bazingahappy.sol wins the Inscription 149970 auction with nearly 18.89 million BOME coins
Darkfarms, the founder of MEME coin BOME, confirmed on the X platform that bazingahappy.sol won the auction of Inscription 149970 with 18,888,888 BOME (approximately US$270,000). It is reported that some of the BOME bids in this auction will be destroyed.
Data: Grayscale GBTC had a net outflow of approximately US$350 million yesterday
According to data monitoring by Farside Investors, the net outflow of Grayscale Bitcoin spot ETF GBTC on March 25 was approximately US$350.1 million, which was more than the US$169.9 million on the previous trading day. The total net outflow of GBTC funds since January 11 Over US$14.15 billion. In addition, Bitwise’s BITB capital inflows were approximately $14 million, Franklin’s EZBC capital inflows were approximately $20.5 million, VanEck’s HODL capital inflows were approximately $4 million, and Ark 21Shares’ ARKB and WisdomTree’s BTCW capital flow data were counted as 0. There is currently no other ETF fund flow data on March 25.
Later news, Fidelity FBTC had an inflow of approximately US$261.8 million yesterday .
Ark Invest Daily data shows that Cathie Wood's ARK Invest sold a total of 74,291 COIN (Coinbase Global Inc) shares on March 25, which was worth nearly $20.78 million based on the closing price of $279.71. In addition, ARK Invest sold a total of 1,651,251 Robinhood shares that day, worth approximately $31.5 million based on the closing price of $19.08.
Coinbase International Exchange’s average daily trading volume hits record high in March
Data from The Block shows that Coinbase International Exchange’s average daily trading volume hit a record high in March. The exchange had only five days in March with trading volume below $1 billion, and hit an all-time high of $6.23 billion last Wednesday.
Market: Bitcoin breaks through $71,000, Ethereum breaks through $3,600
The market situation shows that Bitcoin exceeded US$71,000 in the short term and is currently trading at US$70,423.49, a 24-hour increase of 4.4%. At the same time, Ethereum broke through $3,600 and is currently trading at $3,615.01, a 24-hour increase of 4.2%.
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