PA Daily | Xiaohongshu Concept Meme Coin is gaining popularity; AIOS Foundation announced the destruction of 66.61% of tokens
Reprinted from panewslab
01/14/2025·24days agoToday’s news tips:
Google searches for “RedNote” rise in the United States, and TikTok users flock to Xiaohongshu
Bitcoin spot ETF had a net outflow of US$284 million yesterday, with a net asset ratio of 5.67%
Japanese listed company Remixpoint buys another 500 million yen in Bitcoin
Regulation/Macro
CoinShares lowers Bitcoin ETP management fee to 0.25%
European investment company CoinShares announced that it will reduce the management fee of its flagship product CoinShares Physical Bitcoin ETP (code: BITC; ISIN: GB00BLD4ZL17) from 0.35% to 0.25%, with the new rate taking effect immediately.
Metaplanet: Bitcoin Magazine Japan is online
According to an announcement from Metaplanet, the company launched a new media platform, Bitcoin Magazine Japan, aiming to guide 1 million Japanese to understand and participate in the Bitcoin ecosystem through high-quality content and community activities. Focused on three missions: education, inspiration and action, the platform helps Japan play a key role in the Bitcoin revolution through professional analysis, practical guidance and global community connections. Officials emphasized that Bitcoin is not only a digital asset, but also an important tool to promote economic freedom and technological innovation, empowering the Japanese economy.
Italian bank Intesa Sanpaolo buys 11 BTC for around €1 million
The proprietary trading arm of Intesa Sanpaolo, Italy’s largest banking group, purchased 11 BTC, equivalent to approximately 1 million euros.
Japanese listed company Remixpoint buys another 500 million yen in Bitcoin
The Japanese listed company Remixpoint recently purchased an additional 33.34 Bitcoins, worth approximately 500 million yen, increasing its Bitcoin holdings to 333.189, with a total market value of approximately 4.89 billion yen.
Google searches for “RedNote” rise in the United States, and TikTok users flock to Xiaohongshu
According to Google Trends data, search interest in "Chinese Little Red Book" (Xiaohongshu, translated as "little red book" in English) has increased significantly in the United States. As the United States cracks down on Bytedance, some TikTok users have begun to turn to Xiaohongshu, jokingly calling themselves “TikTok refugees” and even jokingly saying that they are learning Chinese and planning to “move to China.” Xiaohongshu users responded enthusiastically, welcoming American users to join and even asking for help with English homework. Data shows that Xiaohongshu (RedNote) currently ranks first in the ranking of free app downloads in the US region of the Apple AppStore.
Chinese officials are evaluating a possible option to sell TikTok's U.S. operations to Elon Musk if it fails to prevent a U.S. ban, Bloomberg reported, citing people familiar with the matter. Although TikTok parent company ByteDance prefers to block the ban through appeal, the U.S. Supreme Court hearing indicates that the ban may be upheld. The plan envisions Musk's X (formerly Twitter) taking over TikTok's US business and integrating it with its existing platform. This move will not only leverage TikTok’s 170 million U.S. users to increase advertising revenue, but may also provide rich data support for Musk’s artificial intelligence company xAI. However, the transaction requires approval from the Chinese government, especially if it involves the transfer of TikTok’s core algorithm. Currently, TikTok’s U.S. business is valued at between $40 billion and $50 billion, but it is unclear whether Musk has enough resources to complete this transaction. ByteDance said its primary goal is still to retain TikTok's business in the United States through legal channels. Subsequently, the BBC reported that TikTok responded by saying: The report that "the US business will be sold to Musk" is "pure fiction."
U.S. court asks SEC to explain why it refused to enact encryption rules
The U.S. Court of Appeals for the Third Circuit has ruled, requiring the U.S. Securities and Exchange Commission (SEC) to fully explain its decision to refuse to establish clear rules for the cryptocurrency industry, CoinDesk reported. The ruling partially supported Coinbase’s appeal, arguing that the SEC’s stance on crypto assets was “arbitrary and capricious.” The ruling, which occurred in the last week of SEC Chairman Gary Gensler’s term, may provide incoming Republican Chairman Paul Atkins with an opportunity to adjust the direction of cryptocurrency regulation. The court emphasized the need for the SEC to take a clear stand rather than continue to avoid rule-making issues, especially in the context of the agency’s controversial enforcement-focused encryption regulatory policies in recent years. Previously, the SEC had suffered successive legal setbacks in Grayscale’s Bitcoin Spot ETF application and Coinbase-related cases. The court found the SEC's reasons for rejection "conclusive and lacking sufficient basis" and warned it not to give any more "poor explanations." Coinbase Chief Legal Officer Paul Grewal expressed his gratitude to the court for its prudent ruling.
The Trump team is studying a gradual increase in tariffs, ranging from 2% to 5% per month
According to foreign media citing people familiar with the matter, Trump's economic team is discussing slowly increasing tariff rates month by month. The gradual increase in tariffs is intended to increase negotiating leverage while helping to avoid a spike in inflation. One scenario is to develop a schedule of monthly incremental tariff increases of about 2% to 5% that would follow executive powers under the U.S. Emergency Economic Powers Act, people familiar with the matter said. The proposal is in its early stages and has not yet been submitted to Trump, who has not yet evaluated or approved the idea of progressive tariffs. Advisers involved in the plan include Treasury Secretary nominee Scott Bessant, National Economic Council Director Kevin Hassett, and National Economic Council Chairman Stephen Millan.
The U.S. Supreme Court has rejected a request by cryptocurrency exchange Binance and its founder Changpeng Zhao (CZ) to review a lower court ruling, The Block reported. Previously, the Second Circuit Court of Appeals ruled that U.S. securities laws apply to Binance even though it does not have a physical headquarters. The case stems from the U.S. Securities and Exchange Commission (SEC) accusing Binance of illegally providing services to U.S. users since 2023. At the end of 2023, Binance pleaded guilty to multiple criminal charges and paid a $4.3 billion fine. During the appeal, Binance argued that the case had a global impact and involved the regulatory applicability of the digital asset industry, but the court upheld the original verdict on the grounds that the transaction occurred on a US server.
Robinhood fined $45 million by SEC for multiple securities violations
According to an announcement issued by the U.S. Securities and Exchange Commission (SEC), Robinhood Securities LLC and Robinhood Financial LLC agreed to pay a total of $45 million in civil penalties for violating more than 10 securities laws. The violations included failure to submit timely suspicious activity reports, failure to implement adequate identity theft protection measures, failure to address known cybersecurity vulnerabilities, and failure to properly maintain records of customer communications. Additionally, Robinhood Securities was separately cited for failing to provide complete securities trading data and failing to comply with Reg SHO rules. These issues occurred between 2019 and 2023. The SEC said the two companies had acknowledged some of the findings and agreed to accept penalties.
Financing
Cross-chain infrastructure SYNTHR announced that it has completed 5 rounds of financing, raising a total of US$10 million, with participation from Kronos, NGC Ventures, Morningstar Ventures, etc. In addition, the project has also received 11 funding supports.
Sygnum, a crypto bank headquartered in Switzerland and Singapore, announced the completion of strategic financing of US$58 million, with a valuation exceeding US$1 billion, officially joining the ranks of unicorns. The financing was led by Fulgur Ventures, which focuses on Bitcoin technology, with new and old investors and team members participating in the financing. Funds will be used to expand the product portfolio (with a focus on Bitcoin technology), enhance compliance capabilities, expand institutional infrastructure, and explore strategic acquisition opportunities. Sygnum plans to strengthen its European operations and establish a regulated facility in Hong Kong. The bank currently manages more than $5 billion in assets and serves more than 2,000 clients in 70 countries. In 2024, Sygnum will achieve full-year profitability, with total transaction volume increasing by more than 1,000% year-on-year.
Databricks secures US$5 billion in financing to accelerate AI products and international expansion
According to Bloomberg, Databricks, a data analytics and artificial intelligence (AI) company headquartered in San Francisco, raised US$5 billion in financing through private equity lenders and banks, including US$2.25 billion in term loans and US$2.5 billion in revolving credit. The funds will be used for AI product development, international expansion and employee equity buyback. The company expects revenue to exceed US$3 billion in fiscal 2025 and achieve positive cash flow in the fourth quarter.
According to The Block, total venture capital investment in the crypto industry reached US$4 billion in the fourth quarter of 2024, involving 687 transactions, the highest single-quarter investment amount in two years. Infrastructure projects attracted US$4 billion, dominating capital inflows, followed by financial services (US$970 million). Web3 projects have the largest number of transactions, with 141, followed by NFT and game projects, with 132 transactions. Notably, decentralized finance (DeFi) projects remained stable with 125 transactions completed. Infrastructure projects attracted the most capital despite a smaller number of deals (111). In addition, investments in data analysis (10 deals) and enterprise solutions (18 deals) were relatively cautious. A highlight is Echo.xyz, the angel co-investment platform launched by Cobie, which has participated in at least 9 rounds of financing, including helping MegaETH complete $10 million in financing in 3 minutes. This model allows key opinion leaders (KOLs) to create investment consortiums and attract followers to invest together, bringing more democratized opportunities to early-stage crypto investments.
Project news
Sony L2 project Soneium faced community opposition for allegedly blacklisting some Meme coins
According to The Block, Sony’s Layer 2 project Soneium blacklisted some Meme coins suspected of infringing intellectual property rights on the mainnet launch day, triggering community opposition. As a result, some tokens are restricted, cannot be traded, and cannot be supported on the official block explorer. The move triggered strong dissatisfaction among some users, who expressed their disappointment in multiple posts on the X platform that they were suddenly unable to trade or access these meme coins on the Soneium network. The blacklisting operation specifically targets tokens that imitate or use brands that Sony or Soneium considers to be protected. Therefore, it is reported that transactions of these Meme coins have been suspended and cannot be transferred. Users who attempt to access these tokens will receive a "Forbidden" warning on the block explorer. The situation escalated further when Alon, the anonymous founder of pump.fun, made critical remarks, accusing the platform of “actively blacklisting meme coins they didn’t like, wiping out everyone’s holdings in an instant.” Kawz, the founder of Time.fun, also claimed that the blacklist affected user funds and accused the platform of freezing the contract. "Soneium caused users to lose more than $100,000 in Ethereum assets on the first day of launch. I have never seen such a scene," Kawz said, adding that two tokens have been frozen. Others have questioned the degree of control blockchain developers should exercise and the balance between protecting intellectual property and maintaining a permissionless network.
According to monitoring by @ai_9684xtpa, with the influx of TikTok users into Xiaohongshu, the related concept Meme coin has attracted market attention. The main Xiaohongshu concept meme coins currently on the market include: $momo: with a market value of US$7.29 million. It is inspired by the default account name of Xiaohongshu and symbolizes the platform’s privacy and mutual trust culture. Its fans are called the “Momo Army”. $ Captain Potato: With a market value of US$330,000, it is named after Xiaohongshu’s official account “Captain Potato”. Its sweet potato image has 7.436 million fans on the platform and is known as the “Top Ranker on Little Red Book”. $REDnote: Market value is US$940,000. It is derived from Xiaohongshu’s nickname among overseas TikTok users. Related Meme variants are also very popular. *Note: Meme currency fluctuates greatly, please pay attention to fund security and NFA.
Bithumb launches A8 and DRIFT Korean won trading pairs
According to Bithumb’s announcement, the exchange has added support for Ancient8 (A8) and Drift (DRIFT) Korean won trading pairs. A8 is based on the Ethereum network; DRIFT is based on the Solana network. Deposits/withdrawals of both tokens will be open within 2 hours of the announcement, and trading will start at 5pm (KST) on January 14th.
According to the announcement of the AIOS Foundation, tokens held by the foundation will be destroyed within 24 hours, totaling 66.61% of the total supply (64.03% and 2.58% respectively). In the future, as the AIOS Chain mainnet goes online, the circulating AIOS on Solana can choose to migrate to AIOSChain. At the same time, AIOSChain will mint native tokens proportional to the amount of destruction and permanently lock them for pledge, supporting the development of ecological decentralization. The news pushed AIOS to surge by more than 150% in a short period of time, and its current market value is approximately US$170 million.
Sony’s Layer-2 blockchain “Soneium” goes online on the mainnet
Sony announced the launch of its Layer-2 blockchain platform "Soneium". The platform was jointly developed by Sony and Singapore's Startale Labs. It is based on Ethereum's Optimism OP Stack technology and aims to support a diverse application ecosystem such as games, finance and entertainment. After 4 months of testing, "Soneium" has attracted 14 million wallets to participate, and is committed to connecting Web2 and Web3 users to provide creators and communities with a more convenient blockchain interactive experience. In addition, Sony has also launched two key projects: • Fan Marketing Platform: Provided by SNFT Inc., it rewards fans and optimizes marketing strategies through NFT, helping brands and enterprises mine the value of data. • S.BLOX: Crypto asset trading services provided by S.BLOX Inc., promoting innovation and brand empowerment in the Soneium ecosystem.
Coinbase will list Peanut the Squirrel (PNUT) token
According to an official announcement from Coinbase, it will support the Solana network’s Peanut the Squirrel (PNUT) token (SPL). Trading of PNUT tokens will open at 1:00 a.m. (Beijing time) on January 15, 2025, or later, depending on liquidity conditions. Once supply is sufficient, the PNUT-USD trading pair will be launched in phases. Note: PNUT only supports Solana network transfers. Transfers on other networks may result in loss of funds, and some jurisdictions may have limited support for PNUT.
point of view
Head of Base Protocol: Supporting Chinese developers is one of my top priorities in 2025
Jesse Pollak, head of the Base protocol, tweeted in Chinese: “After publishing the tweet that Base belongs to everyone, I received many contacts from Chinese developers and expressed pride in being able to build with Chinese developers. He emphasized that he supports China Developers are one of his top priorities in 2025, and he invites everyone to recommend Chinese developers worth paying attention to.”
On January 14, 2025, OKX Vietnam Da Nang’s “OKX New Year’s Eve Dinner” event officially opened. OKX CEO Star attended the event via video connection and delivered an impromptu speech. Star said that the encryption industry is a dynamic industry driven by cycles, full of innovation and vitality, and supported by global regulations. Crypto and AI will become the two industries with the best business technology development in the world in the next ten years. It is reported that the "OKX New Year's Eve Dinner" is a special event for industry builders held by OKX in Da Nang, Vietnam. This event focuses on core topics such as OKX's latest product planning, industry hotspot analysis, and experience sharing, and is committed to providing global cryptocurrency enthusiasts with A platform for in-depth exchanges and ideological collisions to welcome the New Year together.
According to the Washington Post, Trump is expected to issue an executive order on the first day of his presidency regarding debanking and repealing a controversial cryptocurrency accounting policy that requires banks holding digital assets to It is considered a liability.
important data
Bitcoin spot ETF had a net outflow of US$284 million yesterday, with a net asset ratio of 5.67%
According to SoSoValue data, Bitcoin spot ETFs had a total net outflow of US$284 million yesterday. Among them, Grayscale ETF GBTC had a net outflow of US$89.0084 million, with a cumulative historical net outflow of US$21.656 billion; Grayscale Bitcoin Mini Trust ETF BTC had no net outflow, with a cumulative historical net inflow of US$924 million. The single-day net inflow of BlackRock ETF IBIT was US$29.4646 million, and the historical cumulative net inflow reached US$37.696 billion. As of now, the total net asset value of Bitcoin spot ETFs is US$105.046 billion, accounting for 5.67% of the total market value of Bitcoin, with a cumulative historical net inflow of US$35.932 billion.
According to on-chain data monitored by Ember, FTX/Alameda completed the monthly SOL redemption operation 3 hours ago, redeeming 182,421 SOL (approximately $32.35 million) from the pledge and distributing it to 20 addresses . Since November last year, the pledge address has redeemed and transferred out a total of 4.445 million SOL (approximately US$516.88 million), with an average transfer price of US$116.2 per SOL. Currently, FTX/Alameda’s pledge address still has 6.47 million SOL (approximately US$1.18 billion) in pledge status.
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