Headlines
▌The US federal judge “does not believe” that the material issues doctrine applies to the SEC v. Binance case
During a four-hour hearing, Binance and the SEC held oral arguments in Washington District Court, with Binance seeking to overturn the SEC’s lawsuit last summer against the exchange, its U.S. affiliate and its former chief executive. The charges were brought by official Zhao Changpeng.
It is reported that the defense teams on both sides have called for invoking the material issues doctrine, which means that the court will not interpret congressional laws to allow agencies to rule on issues of "significant" political or economic significance. Judge Amy Berman Jackson acknowledged that the case has implications for the entire crypto industry. However, she still did not believe that the material issues principle applied in this case. "I have to say that while this may be a multi-trillion dollar industry, I don't think it fits the very specific circumstances outlined in these cases," Jackson said.
▌The cumulative trading volume of the U.S. spot Bitcoin ETF is close to 19 billion U.S. dollars
Data released by Bloomberg analyst James Seyffart shows that the U.S. spot Trading volume for the Bitcoin ETF remains very strong, with over $2 billion in trading volume today, with GBTC still accounting for more than half of the trading volume ($1.013 billion). In addition, the total trading volume of the ten spot Bitcoin ETFs in the first seven trading days was just under $19 billion, totaling more than $18.7798 billion.
Quotes
As of press time, according to coinmarketcap data:
The recent transaction price of BTC was US$39,571, with fluctuations during the day. Frame-2.96%;
ETH Recent The transaction price was US$2314.02, and the intraday increase or decrease-2.79%;< /p>
BNB’s recent transaction price was US$305.7, with an intraday increase or decrease of -1.77% strong>;
The recent transaction price of strong>%;
The recent transaction price of DOGE was US$0.0805, with intraday changes -4.22%;
ADA’s recent transaction price was US$0.4804, with intraday gains and losses-3.07%;
SOL’s recent transaction price was US$84.2, with intraday changes< span style="color: rgb(255, 0, 0);">-3.49%.
Policy
▌U.S. Senator Waters raised concerns about Meta’s intention to expand its crypto influence Questioning
U.S. Rep. Maxine Waters, a California Democrat, sent a letter to Meta CEO Zuckerberg and Chief Operating Officer Javier Olivan expressing her disapproval of Meta’s ongoing efforts to expand its influence in the cryptocurrency industry. Li is concerned because the company has currently filed five trademark applications with the U.S. Patent and Trademark Office related to digital asset services and blockchain technology.
The letter stated: "Meta first submitted an application on March 18, 2022, and the applications submitted as of January 22 appear to represent the company's continued intention to expand participation in the digital asset ecosystem." . The letter noted that while the five applications remain active, Meta told the Financial Services Commission on October 12 that the company was not conducting any digital asset-related work.
▌SEC: SIM card swapping attack led to account X being hacked, and multi-factor authentication was shut down for 6 months
The U.S. Securities and Exchange Commission (SEC) stated that the theft of its X account on January 9 was the result of a "SIM card swap" attack on the agency's mobile phone lines. The SEC's multi-factor authentication (MFA) was turned off in July 2023 and had been disabled before the false posts, but MFA has now been re-enabled, an agency spokesperson said.
The SEC spokesperson also said that agency staff are continuing to cooperate with the SEC Office of Inspector General, the FBI, the Commodity Futures Trading Commission, the Department of Justice, and other law enforcement entities in the investigation.
▌Sri Lanka plans proof of concept for CBDC
According to local media Daily Mirror, the Central Bank of Sri Lanka plans to launch a central bank digital currency (CBDC) this year, but has not announced a specific date. A representative of the Central Bank of Sri Lanka said that the first step is to propose to the central bank’s board of directors before conducting a pilot. A proof-of-concept aimed at weighing whether a CBDC meets the central bank’s requirements.
Blockchain application
▌Nethermind client v1.25.3 is online, new Support for Sepolia and Holskey
Nethermind announced that its client v1.25.3 is online. This version includes support for Sepolia and Holskey. Developers need to update node to this version as soon as possible to ensure correct node functionality.
▌dYdX Chain v3.0 protocol upgrade proposal has been launched
According to the community governance forum Update, the dYdX Chain v3.0 protocol upgrade proposal is online. v3.0 aims to introduce several improvements, such as ICA account support, enhancements to liquidating Daemons, the ability to close markets, and the removal of non-linear margin requirements. Tian is currently in a 2-day deposit window, and if the deposit threshold of 10,000 DYDX tokens is reached within two days, the proposal will enter the voting stage.
▌EigenLayer plans to launch a “shared security” model for dapps
Restaking protocol EigenLayer plans to launch a "shared security" model for dapps, a mechanism that allows protocols to join the network by leveraging a public ETH staking pool. In the future, the team intends to push the project to a major decentralized application platform and leverage shared security to enable other projects to launch.
It is reported that this version will enable the re-staking ETH on EigenLayer to be provided to all services developed on the network at the same time to implement a common security mechanism to deter potential attackers.
▌Analyst: Ethereum supply may be affected by Dencun upgrade The impact
Luke Nolan, Ethereum research associate at CoinShares, said that Ethereum supply may be affected by the upcoming Dencun upgrade. Analysts explained that the Dencun upgrade will enable L2 transactions to be sent to the Ethereum network via blobspace, which is an alternative to the current transaction calldata mechanism. Transaction calldata accounts for 90% of the gas fees paid by Layer 2. But after the Dencun upgrade, Layer 2 can use the new blobspace mechanism instead of publishing data through calldata, thus greatly reducing Gas costs. So, if Layer 2 is expected to gradually shift to using the new blobspace mechanism, gas prices may stabilize at lower levels, which means fewer Ethereum tokens are burned, thus having an impact on the growth of Ethereum supply.
▌Safe Wallet launches EIP-5792 transaction bundle and other new features
Safe Wallet announces new features, including WalletConnect EIP-5792 transaction bundling, approval editor for permit2 messages, transaction queue redesign, etc.
Cryptocurrency
▌Crypto startup Figure is seeking SEC approval to issue interest-bearing stablecoin
According to Bloomberg news, Figure Technologies Inc., a blockchain and lending startup founded by former SoFi Technologies Inc. CEO Mike Cagney, is seeking approval from the US SEC to issue interest-bearing stablecoins. If successfully approved, Figure will provide the first stablecoin regulated as a security in the United States.
Documents show that Figure submitted Form S-1 to the SEC in the name of its subsidiary FigureCertificateCo. in October last year. Figure expects its product to be used as a replacement for existing stablecoins for payment and transaction settlement. Interest will come from reserves, including treasury bonds, commercial paper, corporate debt, etc. holders will need to complete "know your customer" The process is required to register and obtain stablecoins. The product will be open to U.S. retail and institutional investors.
▌Fidelity Bitcoin Spot ETF trading volume surpassed BlackRock for the second day in a row
< p> Data released by Bloomberg analyst Eric Balchunas showed that the trading volume of Fidelity Bitcoin Spot ETF exceeded BlackRock for the second consecutive day. Fidelity’s FBTC had a trading volume of $410 million today and BlackRock’s IBIT was 3.94 Dollar.
Eric Balchunas said: "Two heavyweight players are competing against each other. Maybe we will see two The Ones in this situation."
▌Nearly 240 million US dollars were liquidated across the network in the past 24 hours , long orders liquidated to US$208 million
Coinglass data shows that the entire network liquidated US$239.69 million in the past 24 hours, of which long orders liquidated US$208 million and short orders liquidated US$30.85 million. , long orders liquidation accounted for 87%, BTC liquidation was US$67.19 million, and ETH liquidation was US$58.86 million.
Important Economic Updates
▌Head of Global Trading Strategy, Goldman Sachs : The U.S. is expected to cut interest rates four times in 2024
Joshua Schiffrin, global head of trading strategy at Goldman Sachs Group, believes that the Federal Reserve will start cutting interest rates in March. A total of four interest rate cuts are expected this year, and the inflation rate will reach 2 %The goal. The trading chief, who last year accurately predicted a soft landing for the U.S. economy, expects central banks in Europe and the United Kingdom to follow the Fed's lead. However, in his top 10 forecasts for 2024, Schiffrin believes that the Bank of Japan is expected to buck the trend and raise interest rates in April. Schiffrin reminded that although risk assets will generally rise this year, the market in the first half of the year will be difficult to navigate as the market's bets on the timing and pace of the Federal Reserve's interest rate cuts change. He advised investors to look for opportunities in emerging markets such as Türkiye. (Jinshi Data APP)
Golden Encyclopedia
▌What is blockchain scalability and why is it important?
In the context of blockchain, scalability refers to the ability of a system to accommodate an increasing number of participants while maintaining its decentralized characteristics and overall performance. or the ability to trade. Scalability is important because the fundamental purpose of blockchain technology is to serve as an open, decentralized ledger. Scalable blockchain ensures that the system remains responsive and able to manage growing workloads as more users join the network and transaction processing needs increase.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and not as actual investment advice. Please establish a correct investment philosophy and be sure to increase your risk awareness.
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