Daily | VanEck submitted an on-chain economic ETF application to the US SEC; Binance Finance, one-click currency purchase, flash swap, leverage, and contracts are launched on Sonic (S); Binance Finance, one-click currency purchase, flash swap, leverage, a
Reprinted from chaincatcher
01/16/2025·17days agoOrganized by: Luan Peng, ChainCatcher
Important information:
- Binance Finance, one-click coin buying, flash swap, leverage, and contracts are now available on Sonic (S)
- Crypto exchange BitMEX fined $100 million by U.S. Department of Justice for violating bank secrecy laws
- Xiaohongshu’s largest shareholder is negotiating to sell some shares, with a valuation of no less than US$20 billion
- Financial Times: Pension funds are trying to buy BTC
- The U.S. SEC filed an appeal against the Ripple case, asking the Court of Appeal to review the relevant ruling.
- VanEck submits on-chain economic ETF application to US SEC
- South Korea’s financial regulatory authorities ordered Upbit to suspend operations. The final details of the penalty will be determined on January 21.
- Cryptocurrency custodian Komainu completes $75 million in Bitcoin financing, Blockstream CEO joins its board of directors
"What important events happened in the past 24 hours?"
Justin Sun: USDD 2.0 will be launched soon, with an annualized return of 20%
TRON founder Justin Sun said on social platforms: "USDD 2.0 will be launched soon, with an annualized yield of 20%, fully subsidized by TRON DAO. All interest will be sent to a transparent address in advance. Because we have enough funds. So don't ask me again. Questions like 'Where does the revenue come from?'
According to an announcement issued by the Southern District of the U.S. Department of Justice, cryptocurrency exchange BitMEX was fined $100 million for violating the Bank Secrecy Act (BSA). BitMEX was accused of failing to establish and implement anti-money laundering (AML) and customer identification (KYC) programs and deliberately circumventing U.S. laws to obtain profits.
Its founders and executives had previously pleaded guilty, and the company pleaded guilty in July 2024 and was sentenced to a fine and two years of probation on January 15, 2025.
According to Jinshi report, people familiar with the matter revealed that Xiaohongshu’s largest shareholders GGV Capital, GSR Ventures and Tian Tu Capital are negotiating to sell some shares, and the valuation is not high. Less than $20 billion. Existing shareholders Sequoia Capital Group (formerly Sequoia China) and Hillhouse Investment have shown acquisition intentions, and Tencent is also considering increasing its stake.
The deal has attracted market attention as TikTok faces a potential ban in the United States. People familiar with the matter pointed out that the transaction remains uncertain because existing shareholders have preemptive rights and TikTok's situation is unclear.
Financial Times: Pension funds are trying to buy BTC
According to the Financial Times, pension funds are trying to buy Bitcoin. Pension funds in the U.S. states of Wisconsin and Michigan have become among the largest holders of cryptocurrency-focused U.S. stock market funds, while some pension fund managers in the U.K. and Australia have also invested in Bitcoin through funds or derivatives in recent months. A small allocation was made.
As of the end of September, the Wisconsin Investment Council became the 12th largest shareholder of the BlackRock Bitcoin ETF, with its stake worth approximately $155 million. Michigan is the sixth-largest shareholder of the Grayscale Ethereum ETF, with a stake worth $12.9 million, and the 11th-largest shareholder of the ARK 21Shares Bitcoin ETF.
British pension fund advisory firm Mercer has been flooded with inquiries since election day in the US, with trustees not wanting to be left in the dark about popular asset classes. Most pension funds have turned to regulated U.S. spot Bitcoin or Ethereum ETFs that were approved last year. In the UK, pension consulting firm Cartwright has facilitated the first Bitcoin transaction, with an undisclosed small pension plan investing approximately £1.5 million directly in Bitcoin, hoping to fill the funding gap through excess returns.
At the same time, more than 50 individual savers want to transfer the full amount of their pension funds to cryptocurrency. Cartwright is exploring the possibility of setting up a Bitcoin fund with two multi-employer pension funds. Australia's AMP pension fund management company has also used Bitcoin to boost returns. AMP senior portfolio manager Steve Flegg said that although cryptocurrencies are risky and novel, their size and potential cannot be ignored, so the AMP portfolio has a moderate allocation to Bitcoin futures.
However, funds with allocations to Bitcoin and other cryptocurrencies remain a minority in the superannuation industry, with most advisers reluctant to advise clients to dabble in cryptocurrencies.
According to the preliminary briefing document submitted by the SEC, the U.S. Securities and Exchange Commission appealed the Ripple case, focusing on the ruling on whether the sale of XRP constituted a securities offering. The SEC argued that the trial court erred in its interpretation of securities laws in part of its decision and asked the appeals court to review the relevant ruling.
VanEck submits on-chain economic ETF application to US SEC
Asset management company VanEck submitted an application for an “Onchain Economy” exchange-traded fund (ETF) to the U.S. Securities and Exchange Commission on January 15. According to the document, the fund will invest in cryptocurrency companies across the industry, including software Developers, mining companies, cryptocurrency exchanges, infrastructure builders, payment companies and other businesses in the cryptocurrency space.
The asset manager defines these companies as "digital transformation companies," writing: "Digital transformation companies are selected based on fundamental analysis, market trends, the company's strategic positioning in the digital asset ecosystem, and valuation." The fund It will also invest in digital asset instruments such as commodity futures contracts, but will not invest directly in digital assets by holding cryptocurrencies.
According to Korean media NAVER, South Korea’s Financial Intelligence Analysis Unit (FIU) issued a business suspension notice to Upbit, South Korea’s largest cryptocurrency exchange, on January 9. The main reason was that it violated the Customer Identification (KYC) provisions of the Specified Financial Transaction Information Act. ) and other anti-money laundering obligations. During the inspection, the FIU found approximately 700,000 cases of improper KYC implementation, as well as irregularities such as business dealings with unregistered overseas virtual asset service providers.
Once the punishment is determined, Upbit will be restricted from new user-related business for up to 6 months. Upbit currently accounts for more than 70% of South Korea's cryptocurrency trading market, and this punishment may affect its business license renewal review. FIU will convene a sanctions committee on January 21 to determine the final details of the penalty.
Komainu Holdings Ltd., a cryptocurrency custodian backed by Nomura Holdings Inc., has received $75 million in Bitcoin financing from Blockstream Capital Partners, Bloomberg reported.
The company plans to use the funds to support global expansion plans and integrate collateral management and tokenization technology developed by Blockstream Corp., subject to regulatory approval. Blockstream CEO Adam Back will join Komainu's board of directors.
Hunter Horsley, CEO of Bitwise, posted on
Bithumb will list AGLD, CBK, HPO Korean Won trading pairs
According to Bithumb's announcement, AGLD, CBK, and HPO will be launched on the Korean won trading market today, and the trading time will be 18:00 on January 16, 2025.
Binance adjusts leverage limits for copy trading
According to the official announcement, Binance will adjust the leverage limit of the main trader’s public portfolio in copy trading at 00:00 on January 17, 2025 (UTC). When the master trader's active follower assets under management (AUM) exceed 400,000 USDT, the leverage of his public portfolio will be limited to 10 times. Main traders whose AUM is less than 400,000 USDT are not affected.
According to Cointelegraph, a total of eight states are currently taking the lead in promoting the Bitcoin Strategic Reserve Act.
include:
- Florida
- alabama
- new hampshire
- pennsylvania
- Ohio
- north dakota
- Oklahoma
- Texas
According to King Ten, three people familiar with the matter revealed that the Biden administration is considering how to allow TikTok to continue operating in the United States. A government official revealed that officials are "exploring options" to prevent TikTok from being banned this Sunday (January 19).
According to the official announcement, Binance Financial Management, one-click currency buying, flash swap, leverage, and contracts are now available on Sonic (S). Binance will launch the S 1-75x U-margined perpetual contract at 18:00 on January 16, 2025 (Eastern Eighth District time).
“What are some great articles worth reading in the past 24 hours?”
RootData: 2024 Web3 Industry Investment Research Report
A total of US$10.112 billion in financing will be completed in 2024, an increase of 8.3% compared to 2023. A total of 1,548 financing events occurred throughout the year, and 102 merger and acquisition events reached a record high. Infrastructure, Layer 1/2, and DeFi are still the most popular areas of the blockchain, and the number of clicks on labels such as artificial intelligence and DeSci has increased rapidly. DePIN, RWA, AI and consumer-grade Infra will be the focus of industry development in 2025.
AI Agent is not a part of the plate rotation, but a long slope with thick snow.
RootData Roundtable: Development, Challenges and Opportunities of Stablecoins
In this discussion, multiple guests from Perena, IOSG VC, Frax Finance, BiXin Ventures, Plume Network and OKX comprehensively analyzed the future development of stablecoins from the market impact of stablecoins, institutional investment opportunities to innovative technology applications direction. At the same time, the topic extended to trends such as AI agents and RWA, and discussed how new technologies can help blockchain and DeFi achieve large-scale user adoption.
Today, the price of XRP exceeded US$3 for the first time since 2018. As of press time, the price of XRP is now trading at US$3.17, with a 24h increase of 9.2% and an increase of more than 30% in the past week. The overall gains far outpaced the overall crypto market. Additionally, XRP price is already very close to its all-time high of $3.4 set in January 2018.
On January 15, local time in the United States, on the last day of the appeal submission deadline, the U.S. Securities and Exchange Commission decided to appeal the Ripple case and asked the Court of Appeal to review the relevant ruling. However, the market generally believes that the SEC is "wasting time" and the new SEC under the Trump administration will adopt a more friendly attitude towards encryption, especially a typical case like Ripple.
Furthermore, expectations for the XRP ETF remain strong. Ripple President Monica Long said in a recent interview that XRP is likely to be the next crypto spot ETF after Bitcoin and Ethereum. Approval of these applications will accelerate, especially as governments change.
Coupled with the release of CPI and PPI data last night, core PCE inflation was lower than expected, which boosted investor confidence in the crypto market. The crypto market has also experienced general gains.
The price of XRP also took this opportunity to rise again. Just like its usual style.
XRP was issued in March 2013 and began trading in April 2014. The total issuance amount is 100 billion and the issue price is 0.0000007 yuan.
XRP has been unique since its birth. To sum up briefly, the bear market has been sideways for several years, and the bull market has been rising for half a year, and it has become "Optimus Prime" in a short period of time. It can rise more than 3 times or even more than 10 times in more than ten days.
What is the impact of a large buyback of Virtuals?
This morning, Virtuals announced that it will use the 12,990,427.85 $VIRTUAL accumulated through post-bonding transaction revenue to repurchase and destroy related agency tokens in the ecosystem based on the time-weighted average price (TWAP) in the next 30 days. . Tokens such as GAME, CANVO, and AIXBT with the highest number of repurchases all experienced increases of more than 20%.
Meme Hot List
According to the Meme token tracking and analysis platform GMGN market data, as of 20:00 on January 16:
The top five popular Ethereum tokens in the past 24 hours are: Yilongma , SPX , ERS , PEPU, KIKIUS
The top five popular Solana tokens in the past 24h are: $WAI , SHIKOKU , Boogie , CatTax , ARCANA AI
The top five popular tokens in the past 24h Base are: VIRTUAL, AIXBT , TOSHI, AERO, BRETT
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