PA Daily | US SEC sets up a new cryptocurrency working group; Berachain will launch the main network and conduct token TGE on February 6
Reprinted from panewslab
02/05/2025·23DReminder today:
1. New York Times: US SEC reduces its enforcement efforts in cryptocurrency
2. U.S. lawmakers form House and Senate working groups to draft cryptocurrency and stablecoin bills
3. Acting Chairman of the US CFTC: CFTC no longer implements law enforcement supervision
4.Berachain plans to announce token economics tomorrow, launch the main network on February 6 and conduct token TGE at the same time
5.Jupiter will launch the JUP repurchase mechanism this week
6.Yuchen Sun: Li Lin concealed the due diligence materials when selling Huobi, and there was a hole in the internal area of 30 million US dollars
7. Li Lin responded: There is no so-called "fund hole". Both parties have errors in understanding the way of financial data calculation during delivery.
8. US listed company Semler Scientific invested 88.5 million US dollars to increase its holdings of 871 BTC
9.NYSE has submitted a 19b-4 document application for Grayscale LTC ETF to the US SEC
Regulatory/Macro
Coinbase wrote to the U.S. Currency Complaints Agency (OCC), the Federal Reserve Council (Fed) and the Federal Deposit Insurance Corporation (FDIC) today, asking regulators to confirm whether banks are free to provide services to cryptocurrency companies and clarify the banking services in the crypto industry. status quo.
In the letter, Coinbase asked OCC to withdraw an interpretable letter, which was believed that "actually set a new bank event application process" and restrict banks enter the crypto asset market. Coinbase also confirmed from the Federal Reserve and FDIC to confirm whether the State Special Bank was allowed to provide encrypted custody and execution services and outsourced it to a third -party service provider.
According to Bloomberg, Coinbase said that the current federal law has authorized banks to provide encrypted services and cooperate with third -party service providers, such as Coinbase. However, regulators still need to confirm this. To this end, Coinbase also invited three law firms to support the claim. "Regulators need to make it clear that banks can work with third parties to provide customers with crypto transactions and exchanges," said Faryar Shirzad, chief policy officer at Coinbase.
The issue of Bank of America serving the crypto industry has been controversial. Although banks like BNY Mellon have begun to provide encrypted custody services, there are also reports that FDIC has contacted several US Banks and demands suspension of activities related to encryption. In June 2024, Coinbase filed a lawsuit with the US Securities and Exchange Commission (SEC) and FDIC, accusing these institutions that "jointly tried to exclude encrypted asset companies outside the basic banking services." In the continuous legal struggle, Paul Grewal, director of COINBASE, reiterated the allegations in January 2025, thinking that FDIC intentionally concealed the "suspension letter" related to encryption in the "Law of Information Law".
New York Times: The US SEC reduces its law enforcement in the field of cryptocurrencies
According to the New York Times, five people familiar with the matter revealed that the US Securities and Exchange Commission is shrinking a special group composed of more than 50 lawyers and staff, which has been responsible for cryptocurrency law enforcement operations. This is one of the first specific measures taken by President Trump and its government to reduce cryptocurrencies and other digital asset supervision. One of Trump's first administrative orders aims to promote the development of cryptocurrencies and "eliminate excessive supervision of digital assets."
People familiar with the matter said that some lawyers in the cryptocurrency group are being assigned to other departments of the US Securities and Exchange Commission. A senior lawyer in the group was transferred away from the law enforcement department. Some people who understand the changes say that this transfer is an unfair duty.
The current SEC Agent Chairman Mark T. Uyeda has conducted a series of appointments while adjusting other senior positions of the SEC. The committee hired more than 1,000 lawyers. One of the first things after Uyeda took office was to set up a group to review the method of processing digital assets for SEC. The working group is led by SEC members and blunt cryptocurrency supporters Hester Peirce.
American legislators are setting up a working group, including members of the key committees of the House of Representatives and the Senate to formulate a regulatory framework for digital assets and stablecoins. At the press conference on Tuesday, David Sacks, the head of the White House artificial intelligence and cryptocurrency affairs, Tim Scott, chairman of the Senate Banking Committee, John Boozman, Chairman of the Senate Agricultural Committee, and Chairman of the House Financial Services Committee, and GT Thompson, Chairman of the House of Representatives of the House of Representatives Announce The establishment of these two hospitals.
The Senate has been promoting the supervision of stable currency. Senator Bill Hagerty proposed a bill on Tuesday, which aims to create a regulatory framework, including setting the issuer whether the issuer is regulated by the federal government or the state government. Hill said that the future stabilization currency bill will be "very similar" to the Senate's plan. Hill said at a press conference on Tuesday that the bill that regulates the overall market structure of the cryptocurrency in the future will be similar to the "Financial Innovation of the 21st Century and the Technical Act" (FIT21), and emphasizes the basis of its support.
The newly established cryptocurrency working group of the US Securities and Exchange Commission (SEC) will undertake a series of priority tasks because the agency is taking different directions from the past few years. The working group is led by Republican members Hester Peirce. It will be committed to distinguishing which "encrypted assets" are securities. It may change the company's registration method and provide clear statements when approving or vetoing exchange products.
In a statement on Tuesday, Peirce outlined her task list and attached a link from the cryptocurrency working group. At the same time, it was pointed out that the list was not detailed. PEIRCE said that one of the priority tasks is to classify certain tokens as "non -securities". PEIRCE said: "The working group is still considering the proposal committee to take action to provide some tokens with the possibility of temporary forward -looking and traceability exemption, providing certain specific information for issuing entities or other entities willing to bear responsibility, maintain The information update and agreed that the committee's jurisdiction is not questioned in cases involving asset trading fraud. "PEIRCE said:" We will cooperate with other federal government departments, state securities regulatory agencies, and international counterparts to invite builders, enthusiasts and doubts Those interact with us to determine what the final rule should be, and what temporary measures can be taken during this period to promote innovation
At a Washington press conference in conjunction with key congressional committee leaders on Tuesday, President Donald Trump’s newly appointed “cryptocurrency chief” David Sacks outlined the new administration’s extensive pro-cryptocurrency agenda. When asked about the role of cryptocurrencies in the recent US sovereign wealth fund, Sacks revealed that evaluating potential Bitcoin reserves is the primary task of the government's internal working group.
Sacks said in answering reporters: "We are still waiting for some cabinet ministers in the working group to be confirmed, but once confirmed, one of our primary tasks will be the feasibility of evaluating the Bitcoin reserves." He added that sovereignty said, sovereignty Fortune Fund is a different concept. Trump's nominated business minister Howard Lutnick will be responsible for the matter.
US CFTC Agent Chairman: CFTC no longer implements law enforcement supervision
CAROLINE PHAM, the acting chairman of the American Commodity Futures Trading Commission (CFTC), said on Tuesday that the regulatory agency has reorganized its law enforcement department to "re -focus" to crack down fraud and "stop supervision through law enforcement."
Under the leadership of CFTC Chairman Rostin Behnam, CFTC's law enforcement department has multiple working groups, including a working group focusing on insider trading, a working group focusing on network security and emerging technologies, and a designed to combat the environment Fraud working group. The reorganization reduced the number of working groups to two. The newly established "complex fraud work group" is responsible for handling law enforcement work in all asset categories, from preliminary investigation to litigation. Paul Hayeck, deputy director of the law enforcement department, will serve as an agent in charge of the complex fraud working group. The "retail fraud and general law enforcement work group" will be responsible for handling retail fraud and general law enforcement affairs, and the leader of Charles Marvine, who is also the deputy director of the law enforcement department.
Pham said in a press statement: "This simplified structure will stop supervising through law enforcement and improve efficiency. These urgent reforms will maximize the resources of CFTC to take more action to combat fraud and other bad behaviors. Instead of punishing law -abiding citizens. "According to the announcement of CFTC, the new structure will" more effective use of CFTC resources to prevent fraud, manipulation and abuse, and ensure market integrity. " , To prevent excessive enforcement and enhance consistency, fairness and legitimate procedures.
According to Bitcoin Magazine, U.S. Senator Sandra O'Brien of Ohio proposed a bill to establish a Bitcoin reserve and require state entities to accept Bitcoin as a payment method.
Project dynamics
NYSE has submitted the 19B-4 file application of the grayscale LTC ETF to the US SEC
Litecoin officially stated on the X platform that NYSE has already submitted the 19B-4 file application of the gray LTC ETF to the US SEC to seek to convert its Litecoin (LTC) trust into spot ETF.
It is reported that the 19B-4 application refers to a change proposal submitted to the US Securities and Exchange Commission (SEC), which is usually submitted by the exchange (such as NYSE or NASDAQ) so that new financial products (such as ETF) are listed.
BERAChain plans to announce the token economics tomorrow.
BERAChain Foundation officially announced that the Berachain tokens will start at the same time as the main network, and token economics and CHECKER (or referring to the air investment inspector) will be launched tomorrow. Earlier today , Berachain Foundation announced that the main network of Berachain will be launched on February 6, 2025.
XRP Ledger spontaneously recovered about an hour after block production interruption this morning, a rare outage event on the network. The network activity was frozen at the height of the LEDger 93927173, which prompted the authentication to investigate immediately. XRP LEDGER subsequently resumed normal operation and did not report any assets or transaction losses.
XRPL chief technical officer David Schwartz said on the X platform: "It seems that the consensus mechanism is still running, but the verification results have not been released, resulting in the network separation. As far as I know Any change, so the network may be recovered spontaneously.
Mode -based IONIC platform was attacked by hackers, and the loss was about $ 8.8 million
According to IONIC official announcement, the Mode -based IONIC platform was attacked by hackers. Hackers used unofficial fake LBTC (LOMBARD BTC) as the iONIC platform mortgage to borrow. The team is conducting investigations. According to the monitoring of security company Quillaudits, the estimated loss of the attack was about $ 8.8 million.
Detective Zachxbt on the chain said this matter: IONIC's predecessor Midas protocol, Midas encountered two hacking attacks in 2023, while the IONIC project used the 2022 Midas audit report. In this regard, Zachxbt has once questioned the security of IONIC's contract. The team stated that their code library is based on the compound fork, and the vulnerability in Midas is due to the vulnerabilities known in the Compound code. These problems have been implemented in the new pool in white Measures such as lists and re -incoming attack circuit breakers have been repaired, emphasizing that IONIC is very safe.
Jupiter will start this week to launch the JD repurchase mechanism
Jupiter founder Meow announced on the X platform at the end of last month to announce the preliminary plan for repurchase, that is, transfer to the repurchase wallet every week, set a fixed investment on JUP, and lock it in the Litterbox for at least 3 years. At the beginning of the week (that is, this week), the repurchase plan starts on February 3, and more details will be shared.
Earlier, the network said that half of the cost of the agreement (ie 50%) will be used for long -term repurchase, and the remaining 50%will invest in project growth, future strategy and comprehensive operation stability.
Celestia community launches proposal to reduce TIA inflation by 33%, its founder expresses support
The Celestia (TIA) community launched a new proposal to reduce TIA's inflation rate by 33%. Regarding the proposal, Celestia founder Mustafa Al-Bassam published a statement saying: "I support this proposal. When we first decided on inflation, we referred to Solana's inflation plan to keep it relatively simple because we don't want to follow Cosmos standards. Inflation plan (i.e., the permanent 10% inflation rate). The recent consensus among the community is that this number is still too high, and now Solana is also proposing a reduction in inflation, so it is time for Celestia to adjust. I think the 33% reduction is the right balance , It can effectively adjust the inflation curve without excessive endangering encryption economy. "
Tether's AI Department Tether Data will launch an open source AI SDK platform
Tether CEO Paolo Ardoino posted on X that Tether Data is developing applications such as AI translation, AI voice assistant and AI Bitcoin wallet assistant. Tether is about to launch its own AI SDK platform, which is open source and built on Bare (Holepunch's JavaScript runtime) and can run on any hardware, from embedded devices, any phone (whether budget or high performance), Any laptop, a powerful server to the server cluster. The application of Tether Data will focus on any device to ensure that it is completely privacy and self -custody (including data and funds).
Payment company Stripe officially completed the acquisition of stablecoin infrastructure company Bridge on Tuesday, spending $1.1 billion. This is the largest acquisition transaction in Stripe so far, marking its major layout in the field of stabilized currency.
The team of about 60 people in Bridge has completed the employment at the STRIPE headquarters in San Francisco. Bridge focuses on helping enterprises accept stable currency payment, while reducing the complexity of direct contact with digital assets. Its customers include Coinbase and SpaceX. Stripe supported Bitcoin in 2014, but ended related services at the end of 2018. The acquisition of Bridge allows it to optimize cross -border payment solutions and expand stable currency payment infrastructure.
Financing
Taproot Wizards is underway for a new round of $30 million in funding, led by Standard Crypto
The Bitcoin Ordinals project Taproot Wizards is raising $ 30 million in its first POST-SEED wheel. This round of financing was led by the early supporter of Taproot Wizards Standard Crypto, and Cyberfund, Collider Ventures and other institutions participated. The project will use new funds to promote the development of the OP_CAT ecosystem to enhance the smart contract function of Bitcoin.
It is reported that Taproot Wizards was founded in 2023. In February 2023, the casting of Taproot Wizard #0001 generated a 4MB block, which was the largest block and transaction of Bitcoin at that time. The team also launched the Ordinals series Quantum Cats, which is currently the highest market value in the Bitcoin NFT project.
Earlier in November 2023, Taproot Wizards completed $ 7.5 million in financing .
Olas, an independent AI proxy platform in the encryption field, completed $ 13.8 million in financing to support the launch of the "Agent App Store" named Pearl. This round of financing was led by 1KX, and companies such as Tioga Capital, SIGIL FUND, Zee Prime Capital, Borderless, KeyRock, etc. also participated in investment. The Olas team said that the funds will be used to support its agent app store, which aims to realize the democratic visits of AI agents owned by users.
While announcing financing, Olas also launched the Olas Accelerator Program that provides developers with an agent on the platform with a $ 1 million funding and OLAS token award. Olas's technical stacks include Olas Stack and Olas Protocol, which inspire the creation and common ownership of AI agents. The team said it had promoted more than 3.5 million transactions from nine blockchain agents.
DEPIN project BEAMABLE completed $ 13.5 million in Series A financing, Bitkraft Ventures led
The decentralized gaming infrastructure platform BEAMABLE completed the $ 13.5 million Series A round of Bitkraft Ventures, ARCA, Advancit Capital, 2PUNKS, P2 Ventures, Solana Foundation, Scytale, DEFY.VC, GRANDBC ANKS Capital and Permit Ventures participated in the investment.
The new round of financing aims to accelerate the development and expansion of Beamable Network. Beamable Network is a decentralized physical infrastructure network (DEPIN) to change the construction and operation of the back -end infrastructure of the game.
Point of view
Sun Yuchen posted in X and said: "Anyone who is familiar with the inside story knows that Li Lin at the time (when selling fire coins) concealed the dedicated materials, and there was a $ 30 million hole inside. If you can't give it, I will lend it to the company.
Huobi founder Li Lin responded to Justin Sun's doubts and said that during the HTX delivery process in October 2022, the two parties had major differences in the calculation methods of user assets, and had many communications with Justin Sun. Justin Sun also made it clear that he hoped to further verify. The account and clarify the facts. Therefore, this is not the so -called "concealing allocation" or "capital holes", but because the delivery has been completed for two years, the core personnel and financial data have changed a lot, resulting in the error of the computing method of financial data during the delivery. Sun Yuchen's "$ 30 million in funding holes" is essentially a warehouse caused by the trading platform when operating the two -fry (leverage) business. During the delivery, this part of the financial treatment has been used with the company's income, and the assets that are delivered to the seller completely cover user assets, and there is no so -called "capital hole". It fully supports a fair ruling through the Hong Kong courts or third -party arbitration agencies to safeguard the legitimate rights and interests of all parties with legal channels, rather than unilaterally using social media unilateral trials.
Anthony Scaramucci, founder of Sky Bridge Capital, said Trump's capriciousness will bring short-term turmoil to the crypto market. Although Bitcoin and cryptocurrencies are long-term winners, they must bear Trump's all-round blow. However, Anthony Scaramucci said that Tianqiao Capital will fully invest in cryptocurrencies. His company holds digital assets worth $ 1.4 billion, accounting for 57%of the company's entire assets. In addition, more than 60%of his personal wealth is Bitcoin.
Anthony Scaramucci added that if the institution is fully adopted, it allows banks to host cryptocurrencies, hold them on their own balance sheets, and use their capital to become the main investors in cryptocurrencies. .
Important data
Semler Scientific, a US listed company, announced that it has invested 88.5 million US dollars to increase its holdings of 871 BTCs today. Since July 1, 2024, Semler Scientific's BTC yield is 152 %, and 3,192 BTCs are now held.
Earlier news , Semler Scientific completed the pricing of $ 85 million in convertible high -end bonds, with an annual interest rate of 4.25%, which will expire in 2030. The initial conversion price is US $ 76.44 per share, a 25%closing price from January 23. Part of the income ($ 6.6 million) will be used for capacity transactions, and the remaining funds are used for corporate use, including Bitcoin investment.
According to Onchain Lens monitor, in the past 6 hours, Tether has cast 1 billion USDT on the TRON network. Since 2025, Tether has cast a total of 2 billion USDTs on the TRON network. Circle cast 250 million USDC on Solana. Since 2025, Circle has cast a total of 65 USDCs on Solana.
According to Messari data, Solana's on-chain GDP (total application revenue) increased by 213% month-on-month to US$840 million in the fourth quarter of 2024. Among them, Pump Fun's revenue in the quarter was US$235 million, a month-on-month increase of 242%; Photon's revenue in the quarter was US$140 million, a month-on-month increase of 278%; Raydium's revenue in the quarter was US$74 million, a month-on-month increase of 268% ;BullX's revenue in the quarter was US$73 million, a 260% increase from the previous quarter; Trojan's revenue in the quarter was US$63 million, a 187% increase from the previous quarter.
According to monitoring by on-chain analyst @ai_9684xtpa, an ETH giant whale is reducing its position in 2021 to buy 4,117 ETH (US$11.37 million), and is expected to make a profit of US$2.45 million. Previously, the giant whale did not sell these ETHs even after rising to $4,800 in the last bull market.
He bought 7693 ETH at an average price of US$2167 during 2021.02-09. In the past 13 hours, he replaced 2117 of them for WBTC and recharged another 2,000 into Binance.
Currently he still holds 30,797 ETH, most of which are pledged in EigenLayer and ether.fi.
According to Onchain Lens monitoring, a trader turned $1,854 into $2.28 million on SSE tokens. The trader bought 108,614,413 SSEs at Pump.Fun for 9.35 SOLs ($1,854). The trader has not sold any tokens and currently has a floating profit of $2.28 million.
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