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▌Former FTX law firm set to be appointed as independent monitor for Binance
The law firm Sullivan & Cromwell is poised to be appointed as the independent monitor for Binance, with the law firm previously handling FTX's bankruptcy case.
▌BlackRock's IBIT Bitcoin holdings reach nearly 110,000 coins
Asset management company BlackRock disclosed that as of February 14th, its spot Bitcoin ETF, Ishares Bitcoin Trust (IBIT), holds 109,609 Bitcoins and $109,955 in cash, equivalent to approximately $5,453,917,345 in net assets.
Market Overview
As of the time of writing, according to coinmarketcap data:
- BTC recent trading price: $51,977.94, 24h Change: +0.09%
- ETH recent trading price: $2,844.75, 24h Change: +2.15%
- BNB recent trading price: $356.77, 24h Change: +6.37%
- ORDI recent trading price: $69.49, 24h Change: -2.60%
- DOGE recent trading price: $0.08573, 24h Change: -2.19%
- SOL recent trading price: $113.15, 24h Change: -2.82%
- ALT recent trading price: $0.3858, 24h Change: -4.55%
Policy
▌US Senator Elizabeth Warren Seems Unlikely to Change Her Stance on Bitcoin
A stunt by Bitcoin supporters led to the misconception that US Senator Elizabeth Warren, a staunch critic of cryptocurrencies, had signed an order to fly a flag commemorating Bitcoin's pseudonymous creator Satoshi Nakamoto over the US Capitol. Despite this, Warren's views on Bitcoin appear to remain unchanged. Warren has been one of the most vocal critics of blockchain in the Senate, introducing bills such as last year's Digital Asset Anti-Money Laundering Act aimed at restricting financial institutions from transacting in Bitcoin and other cryptocurrencies. Given her anti-Bitcoin track record, her purported endorsement of a flag to honor Bitcoin's creator was surprising. However, it seems to have been a clever ruse by Bitcoin supporters, with social media sleuths quickly pointing out that anyone could fill out a form on the senator's website, pay a fee to have a flag flown over the US Capitol, and receive a certificate signed by the senator.
Blockchain Applications
▌CEO of deBridge: Security Has Always Been a Highly Challenging Aspect in the Cross-Chain Space
deBridge CEO Alex Smirnov stated that security has always been a highly challenging aspect in the cross-chain space, with significant hacks and vulnerabilities appearing in bridging protocols.
▌Sports Betting Platform Shuffle Announces Token Allocation Plan
Sports betting platform Shuffle unveiled key details of its SHFL token allocation plan, with SHFL token generation and airdrop events set to take place in the first week of March, although specific dates have not been announced. The first airdrop will account for 10% of the total token supply, with two more airdrops planned over the next few years, each accounting for 9% of the total token supply.
▌Blueprint Finance Secures $7.5 Million in Funding
Blueprint Finance announced $7.5 million in funding from crypto-native investors such as Tribe Capital, Hashed, Portal Ventures, and SALT to address the liquidity problems in cryptocurrency. According to the team, Blueprint's flagship product is the Concrete Protocol, an application chain built for on-chain debt and credit.
▌Web3 Development Platform QuickNode Adds Support for ZkSync Hyperchains
Web3 development platform QuickNode has added support for ZkSync Hyperchains, with the QuickNode team stating that Hyperchains, supported by ZKStack, ensure strong data privacy and are well-suited for enterprise use cases while maintaining compliance. They run parallel to the zkSync mainnet, enabling seamless asset bridging and liquidity. With QuickNode handling the infrastructure, enterprises can focus on creating plug-and-play blockchain applications.
▌Uphold's Self-Custody Wallet Vault Completes Two-Month Testing Phase
The self-custody wallet Vault launched by global Web3 financial platform Uphold has completed a two-month testing phase. According to the team, during the testing phase, trading volume for beta users reached $33 million. After thorough community feedback sessions, around 80% of surveyed users found Vault easy to understand and simple to use for managing funds.
▌Web3 Gaming Data Analytics Provider Helika Raises $8 Million in Series A Funding
Helika, a data analytics and infrastructure provider for both traditional and Web3 gaming, whose clients include Animoca Brands and Yuga Labs, announced $8 million in Series A funding from Pantera, Animoca, Diagram, and Sfermion.
Cryptocurrency
▌Since the Launch of Spot Bitcoin ETFs, Significant Outflows Have Been Seen from Gold ETFs
Significant outflows have been seen from gold ETFs since the launch of 10 spot Bitcoin ETFs on January 11th. Bitcoin ETFs have witnessed significant inflows, with the two largest ETFs open for just over a month now holding nearly $10 billion in assets under management. Currently, this does not necessarily mean funds are leaving gold for Bitcoin.
▌DMG Partners with Sygnum Bank to Provide Credit Facilities
Cryptocurrency technology company DMG Blockchain announced it has partnered with Swiss bank Sygnum Bank as a strategic banking partner to provide a credit facility of $9 million (equivalent) to enhance its operations ahead of the upcoming Bitcoin halving expected in April 2024. The funds will primarily be used to purchase 4,550 T21 190TH/s Bitcoin mining machines from Bitmain Technologies, costing $12,103,000 ($14/TH/s).
▌Opinion: Bitcoin Market Entering a Period of Rebound Before the Halving
Jag Kooner, Head of Derivatives at Bitfinex, states that the current market trend in Bitcoin is consistent with rebounds before halvings observed in previous Bitcoin cycles, indicating that the Bitcoin market is entering a period of rebound before the halving.
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Post time 21-2-2024 13:02:29