PA Daily | SEC has never stated that Bitcoin and Ethereum are securities; Matrixport said that Bitcoin’s 21-week moving average above $85,000 can be considered a bull market signal
Reprinted from panewslab
01/15/2025·21days agoToday’s news tips:
Malaysian Prime Minister Announces Exploration of Cryptocurrency and Blockchain Policy
Thailand plans to allow listing of first Bitcoin ETF to boost digital asset industry
U.S. SEC Chairman: The SEC has never declared that Bitcoin and Ethereum are securities
Solv Protocol: SOLV short investment qualification query will be opened at 17:00 on January 16
Binance Alpha newly lists GRIFT, VITA and Aimonica
OKX will launch AIXBT (aixbt by Virtuals) spot trading
Regulation/Macro
Thailand plans to ban Polymarket to crack down on online gambling
Thailand’s Cyber Crime Investigation Bureau plans to propose a ban on decentralized prediction market Polymarket on the grounds that it may be considered an illegal online gambling platform. It has not yet been determined when the potential ban will be implemented. According to a statement posted on the authority’s website, the suspension of Polymarket aims to prevent the public from falling into online gambling traps and curb the use of cryptocurrencies in illegal activities to avoid serious economic and social impacts. Previously, other regions had adopted similar restrictions on Polymarket. For example, users in Singapore recently reported being unable to access the site and receiving illegal notifications from local authorities. Additionally, Taiwan restricted the use of Polymarket last year and prosecuted a user who bet about $530 on election predictions. The United States and France have also imposed access restrictions on the platform. According to previous news, Polymarket was defined as an illegal gambling website in Singapore and was blocked.
Malaysian Prime Minister Announces Exploration of Cryptocurrency and Blockchain Policy
According to the New Straits Times, Malaysian Prime Minister Anwar Ibrahim said that the government is studying the formulation of digital financial policies with a view to recognizing cryptocurrency and blockchain technology. He held discussions with the Abu Dhabi government and Binance founder Changpeng Zhao during Abu Dhabi Sustainability Week to discuss how to promote development in the field. Anwar stressed that cryptocurrency and blockchain technology, similar to artificial intelligence, are rapidly changing the financial world and Malaysia cannot lag behind. He recommended that the National Finance Ministry, the Securities Commission and Bank Negara Malaysia conduct a comprehensive study, and said the government would draw on international experience, including Binance and the United Arab Emirates. He revealed that he will submit relevant policy drafts to the cabinet and prioritize policy innovation in this area to get rid of the constraints of the traditional financial system and move towards a new model of digital finance.
Deribit CEO confirms receipt of strategic investment interest, but denies sale rumors
According to CoinDesk, crypto derivatives trading platform Deribit CEO Luuk Strijers confirmed that the company has hired FT Partners as a consultant to evaluate strategic investment opportunities and potential secondary market equity transactions. He emphasized that Deribit was not listed for sale, but it did receive strategic investment interest from multiple parties. It was previously reported that crypto exchange Kraken had considered acquiring Deribit, but did not make a formal offer. According to reports, Deribit could be valued at $4 billion to $5 billion or more. Currently, the bull market in the crypto market is driving M&A activity in the industry to heat up, including Moonpay and Chainalysis, which have announced two major acquisitions this week.
Thailand plans to allow listing of first Bitcoin ETF to boost digital asset industry
According to Bloomberg, Thailand’s Securities and Exchange Commission (SEC) is considering allowing Bitcoin exchange-traded funds (ETFs) to be listed on local exchanges for the first time, targeting individual and institutional investors. Currently, there are funds in Thailand that provide indirect Bitcoin exposure by investing in overseas Bitcoin ETFs, but ETFs that directly invest in Bitcoin have not yet been approved. Thailand currently has about 270,000 active crypto trading accounts, and although it is lower than the peak during the epidemic, market activity is gradually recovering. SEC Secretary-General Pornanong Budsaratragoon said that the move aims to provide investors with more options for crypto assets while ensuring appropriate protection measures. She also revealed that Thailand is exploring a pilot sandbox project to use Bitcoin transactions in tourism services in Phuket.
The U.S. Commodity Futures Trading Commission (CFTC) recently announced that the Federal District Court for the Southern District of Florida made a final default judgment against Mosaic Exchange Ltd. and its CEO Sean Michael, requiring them to pay approximately US$468,600 in compensation and return US$61,000 of illegal gains. and $660,000 in civil penalties, totaling more than $1.1 million. In addition, the defendants are permanently prohibited from registering CFTC-related businesses and participating in CFTC-regulated market transactions. The case shows that between February 2019 and June 2021, the defendant used false propaganda to induce customers to invest in digital assets such as Bitcoin, falsely claiming to manage tens of millions of dollars in assets and have a high profitability, but actually did not generate the claimed income. And part of the customer funds were used for personal consumption. The CFTC reminds the public to beware of commodity pool scams and recommends checking the CFTC registration information of relevant companies before investing.
Yonhap News Agency: South Korean authorities arrest South Korean President Yoon Seok-yue
According to Yonhap News Agency: South Korean authorities arrested South Korean President Yin Xiyue. The South Korean Public Security Bureau executed the arrest warrant for Yin Xiyue at 10:33 (09:33 Beijing time). This is the first time in South Korea's constitutional history that an arrest warrant has been executed against a sitting president.
U.S. SEC Chairman: The SEC has never declared that Bitcoin and Ethereum are securities
According to The Block, U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler said in an interview with Yahoo Finance that the SEC has never stated that Bitcoin and Ethereum are securities. Gensler emphasized that neither the SEC nor its former chairman Jay Clayton has ever stated that Bitcoin is a security. He also added that the SEC did not clearly identify Ethereum’s security attributes, but stated that it could not directly confirm its non-securities nature due to reasons related to its job responsibilities. The announcement comes as Gensler plans to leave office next week and as members of Congress have repeatedly called for clarity on its classification amid previous controversies and related lawsuits over whether Ethereum is a security. Gensler also noted that approximately 70%-80% of the crypto market is related to Bitcoin and Ethereum, while thousands of other tokens may be securities and subject to disclosure rules.
Financing
WalletConnect developer Reown completed US$13 million in Series B financing, led by USV and 1kx
According to Business Wire, Reown announced the completion of a $13 million Series B round of financing, led by Union Square Ventures (USV) and 1kx. Other investors include SC Ventures, SBI Holdings, Shopify Ventures, Kraken Ventures, etc. To date, Reown’s cumulative financing has reached US$38 million. As the developer of WalletConnect Network, Reown focuses on the improvement of user experience (UX) on the chain. This round of financing will be used to accelerate the development of its core products AppKit and WalletKit to simplify users’ interaction processes on the blockchain. • AppKit: It already supports multi-chain applications such as Solana and Bitcoin, and can achieve rapid user attraction through embedded wallets, smart accounts and other functions. It has recently provided Telegram users with a seamless on-chain experience. • WalletKit: Has been used by more than 600 wallets such as Trust Wallet and Binance Web3Wallet, focusing on solving chain switching and Gas fee issues. As Reown's flagship project, WalletConnect Network has been connected more than 220 million times, covering 35 million users, and launched WCT tokens to achieve network decentralization.
BeraTone completes US$2 million in seed round financing, led by Animoca Brands
Blockchain game project BeraTone announced the completion of a US$2 million seed round of financing. This round was led by Animoca Brands, with participation from SNZ Holding, Citizen X, Avid3, Metazero Capital and other institutions and multiple angel investors. This round of financing will be used for team expansion, feature development and improving the game experience. BeraTone is a farm life simulation game developed based on Berachain, which combines the Proof of Liquidity consensus mechanism of the blockchain to provide players with tradable game assets and a powerful economic ecosystem. The game is inspired by "Harvest Moon", "Stardew Valley" and "Animal Crossing", and creates an attractive bear-themed virtual world through rhythm challenges, social interaction and other gameplay.
Project news
IOST officially announced that its rebranding proposal has been approved by the community with a high vote. According to the new plan, the total supply of IOST will increase from 2.132 billion to 4.264 billion in the next 60 months, of which 97% of the new supply will be allocated to the community. At the same time, the circulating supply will increase by 2.22%, or 474 million IOST, one month after the rebranding is completed. This upgrade marks the official launch of IOST3.0, and 50% of the new supply will be used in areas such as network infrastructure development, community development plans, and payment innovation funds in the next five years. In addition, IOST3.0 will introduce multiple value protection mechanisms, such as extended token unlocking plans, Layer 2 burning mechanisms, DAO-led regular burning activities, etc., to ensure long-term value growth. The implementation of IOST3.0 will be completed in three phases, covering infrastructure deployment, payment protocol activation, cross-chain bridging and global market expansion. According to previous news, IOST released new token economics: 97% of newly issued tokens will be used in the community.
Solv Protocol: SOLV short investment qualification query will be opened at 17:00 on January 16
The Bitcoin staking protocol Solv Protocol announced that the SOLV token airdrop will be open for airdrop qualification verification at 17:00 on January 16 (Beijing time), and will be officially opened for redemption at 17:00 on January 17. SOLV tokens will be listed on Binance, Bybit and Hyperliquid exchanges at 18:00 on January 17. Unclaimed tokens will be returned to the community rewards and DAO treasury after 17:00 on March 18. It stated that since the launch of SolvBTC in April 2024, the platform has attracted more than 24,500 BTC deposits. In terms of token distribution, 7.65% of the supply is dedicated to the Solv community, of which 7.25% is allocated to Solv point system participants, 0.25% is allocated to early supporters, and 0.15% is allocated to OKX Cryptopedia active users. In addition, the top 1% addresses are subject to a 3-month linear unlocking rule, and the portion that does not meet the conditions will be returned to the community reward pool. To further expand Bitcoin reserves, Solv plans to conduct three Bitcoin Reserve Offerings (BROs) in 2025, minting 42 million SOLV each time for convertible note sales. In previous news, Binance announced that the SolvProtocol (SOLV) Megadrop is now open and SOLV/USDT trading will be available on January 17.
Binance will delist the REEF/USDT perpetual contract and adjust leverage and margin levels
Binance announced that it will automatically settle the REEFUSDT USDⓈ-M perpetual contract at 17:00 on January 22, 2025 (Beijing time), and will officially delist the contract after the settlement is completed. In addition, Binance has adjusted the leverage and margin levels of this contract at 15:30 on January 15, 2025 (Beijing time), and existing positions will not be affected. The announcement shows that starting from 16:30 on January 22 (Beijing time), users will not be able to open new REEFUSDT contract positions. Binance recommends users to close relevant positions before delisting to avoid risks caused by automatic settlement.
According to Scam Sniffer, the official Twitter account of the decentralized autonomous wireless network project DAWN, @dawninternet, was hacked and used to post phishing tweets. Please pay attention to the safety of your funds.
OKX will launch AIXBT (aixbt by Virtuals) spot trading
According to the official announcement, OKX announced that it will launch AIXBT (aixbt by Virtuals) spot trading. AIXBT will open the deposit function at 3:00 pm on January 15th, and conduct call auctions from 8:00 to 9:00 that night, Beijing time. The spot trading pair AIXBT/USDT will officially open at 9:00 that night. The currency withdrawal function will be opened at 10:00 am the next day.
Binance Alpha newly lists GRIFT, VITA and Aimonica
The App page shows that Binance Alpha has added a new list of projects, including: GRIFT, VITA and Aimonica.
Derive, the on-chain options protocol, has opened its airdrop inquiry page
The on-chain options protocol Derive (formerly known as Lyra) announced the launch of the DRV token and opened the airdrop inquiry page (derive.xyz/airdrop). Distributions include snapshot LYRA, pre-staking rewards, migration rewards, and trading and deposit rewards. Users can claim DRV through Derive UI and choose to claim it directly or pledge it as stDRV to obtain weekly rewards and governance rights. In addition, DRV supports bridging to Base or Ethereum networks through LayerZero. Users can trade on multiple platforms, including AerodromeFi, Kraken, Gate.io and Infinex, and participate in related trading reward activities.
Spark Protocol will allocate $1.1 billion to Ethena’s USDe and sUSDe tokens
Spark Protocol, the lending arm of the Sky ecosystem, plans to allocate $1.1 billion from its liquidity layer balance sheet to Ethena’s USDe and sUSDe tokens to increase capital efficiency, The Block reported. USDe is an algorithmic stablecoin that was launched in 2024 and is currently the fourth-largest stablecoin by market capitalization. It has attracted much attention because of the benefits it can earn for its holders. The Spark team expects the allocation to achieve an annualized rate of return of approximately 27% under favorable market conditions, driving Sky ecosystem revenue growth and improving returns for USDS savings depositors. The Spark liquidity layer manages $6.2 billion of stablecoin liquidity and supports users to convert USDC and Sky’s USDS or sUSDS tokens between multiple networks.
OpenAI appoints BlackRock executive Adebayo Ogunlesi to board of directors
OpenAI announced the appointment of investment firm BlackRock executive Adebayo “Bayo” Ogunlesi to its board of directors. Ogunlesi is currently a senior managing director at BlackRock and CEO of Global Infrastructure Partners and has extensive experience in managing global organizations. He held several senior positions at Credit Suisse and served as a law clerk to U.S. Supreme Court Justice Thurgood Marshall. His joining will strengthen the OpenAI board’s capabilities in the fields of AI safety, cybersecurity, regulation and economics to promote the development of artificial general intelligence (AGI).
Coinbase International Station will launch Sonic (S) perpetual contract
Coinbase International Station announced on the open.
Bithumb will list Game Build (GAME2) Korean Won trading pair
According to Bithumb’s announcement, Game Build (GAME2) will be launched on the Korean won trading market and support the Ethereum network (recharge on other networks is not supported). The recharge function will be opened within 2 hours after the announcement, and trading will begin at 18:00 (local time) on January 15, 2025.
point of view
Matrixport: Bitcoin’s 21-week moving average above $85,000 can be considered a bullish signal
According to Matrixport analysis, Bitcoin, as a cyclical and trend-driven asset, can be judged by its 21-week moving average (approximately 147 days). When the price is above the moving average, it is appropriate to hold long positions; when the price is below the moving average, you need to remain cautious. Historical data shows that this moving average has successfully captured the main market trends many times, including the bull market in 2020 and 2023, and the bear market phase in 2022. This moving average is currently located around $85,000. As long as the price of Bitcoin remains above this level, the market can be considered to be in a bull market stage.
important data
REEF fell 15.3% in a short time, perhaps due to the delisting by Binance.
According to Binance market data, REEF may have been affected by Binance’s delisting, and REEF fell below $0.0008 in a short period of time, down 15.3% in a short period of time, and is currently quoted at $0.000872. Earlier today, it was reported that Binance would delist the REEF/USDT perpetual contract and adjust the leverage and margin levels.
A certain whale purchased 7.05 million AIXBT tokens for US$3.03 million in the past 24 hours
According to Onchain Lens monitoring, in the past 24 hours, a whale purchased 7.05 million AIXBT tokens for US$3.03 million. Currently, the whale holds a total of 7.9 million AIXBT, with a total value of approximately US$5.76 million.
According to SoSoValue data, on January 14, Eastern Time, Bitcoin spot ETFs had a total net outflow of US$210 million yesterday. Among them, WisdomTree ETF BTCW: a single-day net inflow of US$10.2372 million, with a total historical net inflow of US$239 million, making it the ETF with the largest net inflow yesterday. VanEck ETF HODL: A single-day net inflow of US$5.4596 million, with a total historical net inflow of US$825 million. Currently, the total net asset value of Bitcoin spot ETFs reaches US$108.981 billion, accounting for 5.7% of the total market value of Bitcoin, with a cumulative historical net inflow of US$35.722 billion.
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