Daily | The U.S. Department of Justice is allowed to sell $6.5 billion of Silk Road Bitcoin; the Trump team reviews at least 6 CFTC chairman candidates; Backpack clarifies the FTX EU acquisition transaction process

Organized by: Fairy, ChainCatcher

Important information:

• OKX will launch J (Jambo) spot trading
• Binance Alpha adds FAI, VERTAI, and VADER
• The FDIC was revealed to have deliberately concealed documents on actions to suppress the encryption industry and launched social media investigations into many critics.
• Backpack clarifies FTX EU acquisition transaction process and completes asset purchase in June 2024
• DOJ cleared to sell $6.5 billion in seized darknet Silk Road Bitcoins
• Trump team has reviewed at least 6 potential candidates for CFTC chairman
• Gary Gensler’s parting words: The cryptocurrency space is full of “bad actors” and is proud of the SEC’s regulatory work in the cryptocurrency field

"What important events happened in the past 24 hours?"

[OKX will launch J (Jambo) spot

trading](https://www.chaincatcher.com/article/2161596)

OKX will launch J (Jambo) spot trading, and the J/USDT spot trading will open at 7:00 pm on January 22, 2025 (UTC+8).

[Binance Alpha adds FAI, VERTAI, and

VADER](https://www.chaincatcher.com/article/2161591)

According to official news, Binance Alpha has added FAI, VERTAI, and VADER.

[The FDIC was revealed to have deliberately concealed documents on

actions to suppress the encryption industry and launched social media investigations into many critics.](https://www.chaincatcher.com/article/2161578)

Multiple insiders at the U.S. Federal Deposit Insurance Corporation (FDIC) have exposed a series of misconduct by the agency in Operation Chokepoint 2.0 (action against the encryption industry).

According to the revelations, the FDIC used a variety of tactics to circumvent disclosure requirements under the Freedom of Information Act (FOIA), including marking documents as attorney-client privilege, conducting incomplete searches in regional systems, and hiding documents generated on collaboration platforms such as Microsoft Teams. People familiar with the matter said about 150 key documents had not been submitted.

At the same time, the FDIC was also accused of launching social media investigations into many well-known figures in the industry, including Coinbase Chief Legal Officer Paul Grewal, WSPN CEO Austin Campbell, Custodia Bank founder Caitlin Long, Castle Island Ventures founder Nic Carter, and the Unchained podcast Regulatory reporter Veronica Irwin. People familiar with the matter said they were personally assigned to investigate whether the individuals posed a threat to the FDIC.

[UK court orders crime boss Alexander Surin to seize $4.3 million worth

of Bitcoin](https://www.chaincatcher.com/article/2161537)

A British court has ordered the seizure of approximately $4.3 million worth of Bitcoin from crime boss Alexander Surin, also known as Don Car-Leone, after he failed to prove that the crypto assets were obtained through legal means. The decision follows an investigation into Surin's financial transactions, which were linked to his criminal activities.

Surin fled to Dubai in 2015 after being convicted of drug trafficking in France after his vast wealth, including luxury cars and properties in London, were confiscated by authorities.

[Backpack clarifies FTX EU acquisition transaction process and completes

asset purchase in June 2024](https://www.chaincatcher.com/article/2161624)

FTX estate claimed that Backpack Exchange’s FTX EU acquisition announcement was made without its knowledge, and said that Backpack did not participate in the U.S. Bankruptcy Court-approved process of returning funds to any FTX creditors.

Backpack clarified that in February 2024, FTX Group sold its European assets, including FTX EU, to former insiders, and that the transaction was approved by the bankruptcy court and completed in May 2024. Backpack later purchased the assets from insiders in June 2024, German court records show. The transfer of FTX EU to Backpack requires regulatory approval from the Cyprus Securities and Exchange Commission, which was granted in December 2024.

Backpack said: "Upon approval, FTX Asset Management is obligated to transfer the shares in accordance with the court-approved sale and purchase agreement. We look forward to the completion of the transfer so that we can begin returning client funds to the former FTX Asset Management FTX EU Customers.”

[DOJ cleared to sell $6.5 billion in seized darknet Silk Road

Bitcoins](https://www.chaincatcher.com/article/2161494)

The U.S. government has received approval to liquidate 69,000 Bitcoin ($6.5 billion) from Silk Road, an official confirmed to DB News today, notably less than two weeks after the new administration took office and vowed not to sell.

[Trump team has reviewed at least 6 potential candidates for CFTC

chairman](https://www.chaincatcher.com/article/2161476)

According to FOX Business, the Trump transition team has vetted at least six potential candidates to serve as chairman of the U.S. Commodity Futures Trading Commission (CFTC), as Trump hopes to fulfill his promise to provide a friendlier regulatory environment for the cryptocurrency industry. Under Trump, the CFTC is likely to take a larger role in regulating the $3.5 trillion crypto market, including overseeing the spot market for digital assets such as Bitcoin and Ethereum, if Congress allows it. The regulatory environment remains unclear.

In recent weeks, Trump’s transition team has interviewed CFTC Commissioner Summer Mersinger, Andreessen Horowitz head of crypto policy Brian Quintenz, and Kraken’s former chief legal officer Marco Santori, who has not yet announced his departure from the crypto exchange and may seek to serve in the U.S. government positions in. Other candidates who have been reviewed and remain on the short list include Republican U.S. Commissioner Caroline Pham, and attorneys Neal Kumar and Josh Sterling, who have held senior positions at the agency.

[Gary Gensler’s parting words: The cryptocurrency space is full of “bad

actors” and is proud of the SEC’s regulatory work in the cryptocurrency field](https://www.chaincatcher.com/article/2161468)

Gary Gensler, the outgoing chairman of the U.S. Securities and Exchange Commission (SEC), said in an interview with the media on Wednesday that the cryptocurrency field is full of "bad practitioners" and is a "non-compliant" field, and market sentiment has a far-reaching impact on it. beyond fundamentals.

Gensler emphasized that while Bitcoin accounts for 60% to 80% of the cryptocurrency market value, the remaining 10,000 to 15,000 cryptocurrency projects also raise funds from the public, and many projects ultimately fail to survive, with a large number of "pump and dump" events. Scams and other issues.

Gensler mentioned that he has achieved some results in the field of cryptocurrency regulation since taking over, continuing the work of his predecessor Jay Clayton. Over the past four years, the SEC has filed approximately 100 enforcement actions in the cryptocurrency space, accounting for 5% of its enforcement efforts. He is proud of the SEC’s regulatory work in the cryptocurrency space, but believes there is still much work that needs to be done.

[Oklahoma lawmakers propose Bitcoin Freedom Act to allow BTC for

wages](https://www.chaincatcher.com/article/2161467)

According to Bitcoin Magazine, U.S. Senator Dusty Deevers of Oklahoma has submitted the “Bitcoin Freedom Act” numbered SB325, which will allow Oklahoma employees to choose to receive wages in the form of Bitcoin and allow supply The merchant accepts Bitcoin payments.

SB325 ensures that participation is entirely voluntary, respects free market principles, and gives employees, employers, and businesses the right to choose the payment method that works best for them. SB325 is eligible for consideration in the 60th legislative session, which begins on February 3.

[Grayscale updates the fund components of each product: including

incorporating SUI into the investment portfolio of the GSCPxE fund, etc.](https://www.chaincatcher.com/article/2161464)

According to Globenewswire, Grayscale announced that it has updated the fund composition and weightings of each product based on a review in the fourth quarter of 2024. ① Grayscale included Livepeer (LPT) into the AI ​​Fund’s investment portfolio. ② Grayscale DEFI fund adds Curve (CRV) and removes Synthetix (SNX). ③The Grayscale GDLC Fund added Cardano (ADA) and removed Avalanche (AVAX). ④ Grayscale included SUI in the GSCPxE fund’s investment portfolio.

“What are some great articles worth reading in the past 24 hours?”

[Comparison of new and old AI concept coins: sinking in front of the

Western Mountains at dusk, chasing the rising sun again](https://www.chaincatcher.com/article/2161608)

At the CES 2025 U.S. Consumer Electronics Show on January 7, Nvidia founder Jensen Huang, a leading figure in the AI ​​industry, bluntly said: "AI Agent is expected to become the next robot industry, with an industry scale of trillions of dollars." The audience's reaction to this rhetoric was mediocre, but the encryption industry has already bought in AI Agents - AI Agents such as VIRTUAL, ai16z, swarms, etc. Related tokens have become one of the few focuses of attention in the market recently, and their price trends are still outstanding compared to the broader market. In contrast, a number of old AI concept-related projects, such as FET, WLD, ARKM, etc., have been slightly less popular recently. It seems lonely, and the price performance has fallen sharply from its high point.

[69,000 Bitcoins for sale? What impact will the Silk Road coin sale have

on the market?](https://www.chaincatcher.com/article/2161532)

Just ten days after the U.S. government recommitted $6 billion worth of military and security assistance to Ukraine, the U.S. Department of Justice is preparing to launch a liquidation of a huge Bitcoin asset.

On January 9, an official confirmed to DB News that the Department of Justice had been granted permission to dispose of 69,370 Bitcoins seized in connection with the famous Silk Road case. The asset's current market value is approximately $6.5 billion.

It is reported that the Department of Justice requested permission to sell these assets, citing fluctuations in the price of Bitcoin. When asked about next steps, a spokesperson for the Ministry of Justice said: "The government will take next steps based on the judgment in this case."

After the news broke, Bitcoin fell by more than 2.5% in 24 hours. As of writing, the price was US$94,400.

[A quick overview of the new hot token $LLM: Behind the 55 M transaction

volume in 4 hours, the “fat girl” conquers the crypto market](https://www.chaincatcher.com/article/2161505)

$LLM was launched 4 hours ago, and the trading volume has reached $55m, with a volume/market cap ratio of 1.5x. This is one of the most engaging meme projects we've seen in a while. Its image is a "fat girl" (symbolizing a large language model), inspired by the logo of $ai16z. This Meme is extremely viral and can be compared to the relationship between $LLM and $ai16z, just like the relationship between $FARTCOIN and $GOAT. At the current valuation, we believe its risk/reward ratio is very attractive, especially given factors such as continued growth in trading volume, increasing number of holders, and the strong spread of Meme. We predict that over time, its valuation may be re-priced to $200m+, in line with some high-quality Meme projects.

Meme Hot List

According to the Meme token tracking and analysis platform GMGN market data, as of 19:40 on January 9:

The top five popular Ethereum tokens in the past 24 hours are: KEKIUS , KUMA , SPX , PERCY , KUMA

The top five popular Solana tokens in the past 24h are: LLM, GM , PERCY , TRENCH , VOID

The top five popular tokens in the past 24h Base are: VIRTUAL , AIXBT , USD+, AKUMA , CATOF