Headlines
▌V God: BITE and most Meme coins are "garbage coins"
Vitalik Buterin, the co-founder of Ethereum, said on the Reddit forum that BITE and most Meme coins are "shitcoins". He believes that these tokens have no redeemable cultural or moral value and may bring huge economic losses to investors. V God also stated that he opposed endorsement of these projects to the greatest extent.
Policies
▌U.S. Department of the Treasury: Committed to cracking down on Russian sanctions evasion, including illegal encryption transactions and money laundering schemes
The U.S. Department of the Treasury issued an announcement stating that members of the Multilateral Russian Elites, Proxies and Oligarchs (REPO) Task Force have targeted cryptocurrencies as targets for Russian entities to evade sanctions. Since the Russian military's invasion of Ukraine in February 2022, the REPO task force has blocked or frozen more than $58 billion worth of sanctioned assets, and members of the REPO team have been working to "combat Russia's sanctions evasion," including Illegal crypto transactions. The task force said that REPO will continue to identify, locate and freeze the assets of sanctioned Russians with the goal of depriving the Kremlin of the funds it needs to wage its illegal war.
Cryptocurrency
▌Cryptocurrency exchange KuCoin was accused by New York State regulators of operating without a license
The New York Attorney General has launched another lawsuit against the cryptocurrency industry, accusing KuCoin, one of the world’s most popular cryptocurrency exchanges, of operating without a license in the state. KuCoin, based in the island nation of Seychelles, failed to register as a securities and commodities broker-dealer in New York and falsely represented itself as an exchange, New York state top law enforcement official Letitia James said in a statement Thursday. Additionally, the suit alleges that Ethereum, Luna, and TerraUSD are all securities.
▌Aave’s cancellation of the BUSD stablecoin lending proposal was supported by DAO members
Members of the Aave Decentralized Autonomous Organization (DAO) overwhelmingly supported the cancellation of Binance’s BUSD stablecoin lending. The proposal aims to substantially increase the cost of borrowing BUSD while reducing its accrual to lenders. These actions are aimed at discouraging the use of BUSD. The vote comes as more and more market participants abandon BUSD amid regulatory uncertainty. The proposal’s author, Zeller, wrote in the proposal that BUSD’s circulating supply would “trend toward zero over time,” making it necessary to delist it. At press time, Aave held nearly $11 million in BUSD liquidity from lenders and had lent $7.6 million in the stablecoin.
▌Starbucks will launch 2,000 NFTs on its Web3 Odyssey platform, each priced at $100
Starbucks will launch a limited edition Siren Collection Stamp for users of the beta version of its Web3 Odyssey platform, providing up to 2,000 NFTs, each priced at $100. Each unique piece of artwork is inspired by the brand's mermaid logo, and each user can purchase up to two premium NFT stamps, each with 1,500 bonus points that can be used to upgrade the user's Odyssey account for future rewards. It was previously reported that Starbucks launched a closed beta version of Odyssey in December last year, issuing free reward NFTs to early adopters.
AI-powered virtual pets are gaining popularity in China, driven by the demand for emotional support and low-maintenance companionship. These pets, like Cupboo and Moflin, offer interactive experiences with advanced AI that can remember past interactions, engage in conversations, and even assist with tasks, appealing to a wide range of consumers.
AnaisBinance co-founder CZ welcomes the idea of a presidential pardon but has no interest in resuming his role as CEO. After pleading guilty to a felony and serving four months in prison, a pardon could redefine his opportunities in the crypto space.
CatherineCoinbase has integrated Apple Pay, simplifying fiat-to-crypto transactions and improving user experience. The partnership removes previous transaction challenges and is live for all users, requiring no extra effort from app developers. Could this mark a significant shift in the payments landscape?
KikyoRTFKT, once a leader in digital fashion and NFTs, is shutting down its Web3 services by January 2025 due to the decline of the NFT market.
AnaisThe Witch Game, an Argentine horror film, is sparking debate due to its English dub being created entirely with AI, replacing human voice actors. This has raised concerns about AI's impact on the creative industries, including job loss and the authenticity of artistic work.
WeatherlyA UK judge denied Craig Wright's appeal, citing inaccuracies and "AI-generated hallucinations," sparking questions about his use of AI in the filing.
CatherineTrump is expected to announce his pick for SEC chair as early as tomorrow, replacing Gary Gensler, who steps down on 20 January. The nominee is likely to ease crypto regulations and financial market restrictions. Is this imminent or mere speculation?
KikyoDonald Trump’s cryptocurrency project, World Liberty Financial, has drawn criticism for directing 75% of its funds to his family, raising ethical concerns. Justin Sun's $30 million investment saved the project and highlighted ongoing debates about crypto, politics, and transparency.
AnaisThe US has imposed new export restrictions on China’s semiconductor industry, halting shipments to 140 companies, including Swaysure Technology, tied to Huawei and already under sanctions. Is this a security measure or a futile attempt to stifle China’s tech growth?
CatherineAn Apple employee is suing the company for allegedly monitoring personal devices and iCloud accounts linked to work, even when off-duty. The lawsuit challenges Apple's policies, claiming they violate privacy laws by tracking employees' personal data without consent.
Joy