SEC accuses Binance of failing to provide required materials; Grayscale launches crypto staking fund

Headlines

▌The U.S. SEC accused Binance.US in a new document of failing to provide relevant materials as required< /p>

The U.S. SEC and Binance.US submitted a joint status report on Tuesday detailing their ongoing investigations. SEC lawyers said in the filing that Binance.US did not fully comply with requests for information about its customers’ assets and other matters, and that Binance.US employees did not provide all requested discovery materials and failed to answer questions or otherwise resolve outstanding issues. There is limited help available with requests. The regulator said Binance.US failed to prove to it that Binance Global employees were unable to access U.S. customers’ assets.  

Binance.US said in the same joint report that it had "fulfilled its obligations" by answering all of the SEC's questions and that further information disclosure requests exceeded the limits of the consent order.

▌Grayscale launches crypto pledge fund, initially including nine tokens including APT and TIA

Grayscale announced the launch of a new crypto staking fund called Grayscale Dynamic Income Fund (GDIF), which aims to earn income by staking cryptocurrencies and will distribute rewards in U.S. dollars on a quarterly basis.  

GDIF will initially include assets from nine blockchains: Aptos (APT), Celestia (TIA), Coinbase Staked Ethereum (CBETH), Cosmos (ATOM), Near (NEAR), Osmosis ( OSMO), Polkadot (DOT), SEI Network (SEI) and Solana (SOL).  

Grayscale CEO Michael Sonnenshein said: “As our first actively managed fund, GDIF is an important expansion of our product suite, allowing investors to invest in the company with the convenience and ease of use of a single investment vehicle. Participate in multi-asset pledge with familiarity."

Market

As of press time, according to coinmarketcap data:

BTC’s recent The transaction price was US$63,716, and the intraday increase or decrease-4.45%;< /p>

ETH’s recent transaction price was US$3,560, with an intraday increase or decrease-5.89< /strong>%;

BNB’s recent transaction price was US$394.4, with intraday gains and losses-5.26%;

ORDI’s recent transaction price was US$75.533, with intraday gains and losses-10.47%;

DOGE’s recent transaction price was US$0.1532, with intraday changes in price -11.15%;

SOL’s latest transaction The price is US$125.81, and the intraday increase or decrease-9.67% .

Policy

▌The judge will make a decision in the case of Custodia Bank v. Federal Reserve A summary judgment is issued

According to Fox reporter Eleanor Terrett, the ruling in the case of Custodia Bank v. Federal Reserve will not enter the trial stage, and a summary judgment may be issued soon. The judge said: "A decision will be made immediately on the merits of the case." 

Golden Finance previously reported that crypto-friendly bank Custodia filed a lawsuit against the Federal Reserve for rejecting its master account application.

▌Coinbase objects to the SEC’s use of a default judgment to support its position in the lawsuit

Coinbase is Fighting back against the U.S. SEC’s decision to use an insider trading case to support its lawsuit against the exchange. In a notice filed on Tuesday, Coinbase fired back at the SEC after the regulator said it wanted to notify the court of a default judgment issued last week that alleged trading of certain crypto assets on secondary markets. Belongs to securities. A default judgment means the defendant failed to appear in court, and in a March 1 ruling, the judge said the default judgment was justified in part because the defendant appeared to have fled the United States.   

Coinbase said in a newly filed notice that the default judgment should not be influential. Coinbase also said that the SEC’s motion for default judgment did not mention the Ripple case and did not include “an analysis of secondary market transactions.”

▌The US Arizona Senate proposes adding crypto exposure to state retirement funds

A resolution has been introduced in the U.S. Arizona Senate asking lawmakers and state pension fund managers to consider adding crypto exposure, such as a Bitcoin ETF, to some investment portfolios. According to a fact sheet, the proposal aims to " The Arizona State Retirement System (ASRS) and Public Safety Personnel Retirement System (PSPRS) are encouraged to monitor these new investment vehicles and consider increasing exposure.  

Blockchain Application

▌Dash releases Core Version 20.1.0< /strong>

Dash announced the release of Core Version 20.1.0, which includes a large number of bug fixes, backports and other updates. This version also makes the HD (seed phrase) wallet the default for full node core wallets, and A "discrete mode" has also been added to hide wallet balances. The Dash team recommends all node operators to upgrade.

▌OpenSea and Coachella music festival collaborate to launch three NFT series

OpenSea and Coachella The festival has collaborated to launch three NFT series, providing virtual and tangible real-life VIP experiences and merchandise. The NFT series will be powered by L1 blockchain Avalanche, which is the eighth largest blockchain by NFT sales in the past 30 days, according to CryptoSlam data.  

The first series, called The VIP Pass + Oasis Lounge Keepsake, was released on Tuesday and is priced at $1,499 each with a cap of 1,000 NFTs. Benefits include access to 2024 VIP festival passes and Its new lounge, which offers "exclusive bar deals" including "limited" free drinks, will see the next two series released in late March and mid-April.

▌Shuffle partners with decentralized Launchpad Bazaar to enhance its liquidity bootstrap pool

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Crypto betting platform Shuffle has partnered with decentralized Launchpad Bazaar to help enhance its Liquidity Boot Pool (LBP), which will run from 5:00 pm on March 10 to 5:00 pm on March 12 :00, Shuffle’s collaboration with Bazaar also facilitates cross-chain access for users on Ethereum, Base, Arbitrum, Polygon, ZkSync and Optimism.  

Shuffle previously announced plans to distribute 28% of its token supply through three airdrops, and two subsequent airdrops will each release 9% of the total SHFL token supply over the next few years.

▌Polymer Labs announces the launch of Polyverse testnet

Polymer Labs, a developer of expansion infrastructure, announced the launch of the Polyverse test network. The test network is divided into three stages, each stage has tasks. Each task will increase in complexity as the testnet progresses, encouraging participants to start with basic tasks and become familiar with the ecosystem before tackling larger challenges.

Cryptocurrency

▌The BTC/EUR trading pair on Coinbase suffered a flash crash, falling 23.7% at one point

After BTC surged to record During the market volatility following the USD high, the BTC/EUR trading pair on Coinbase suffered a flash crash, falling 23.7% at one point from €60,000 to €48,529, while on Kraken the price was as low as €58,400. The cause of the flash crash is unclear, but 10 minutes later BTC/EUR returned to parity with other exchanges on Coinbase.  

Flash crashes can usually be attributed to several situations, one of which is a lack of liquidity, i.e. the number of sell orders in the market is too high for the number of buy orders remaining on the order book, so the price needs to drop to The nearest sufficient bid point. Another reason is trader or algorithm-induced error, often referred to as "fat finger" trading.

▌Spot Bitcoin ETF’s single-day trading volume reaches 10 billion U.S. dollar, a record high

According to statistics from Bloomberg analyst Eric Balchunas, as of the close of U.S. stocks on Tuesday, the single-day trading volume of 10 spot Bitcoin ETFs reached $10 billion, a record high. , breaking the historical records set last Wednesday, BlackRock’s IBIT ($3.703 billion), Fidelity’s FBTC ($2.028 billion), Bitwise’s BITB ($294 million), ARK/21 Shares’ ARKB ($484 million) ) both set new records.  

“Volatility and volume go hand in hand with ETFs, so it’s not entirely surprising,” analysts commented.

▌Crypto Fund Split Capital Founder: There is a good chance of seeing some pockets

Zaheer Ebtikar, founder of crypto fund Split Capital: Given that almost everyone who has ever bought Bitcoin has now made a profit, There's a good chance we'll see some pockets.

▌The total liquidation volume of the entire network in the past 24 hours rose to US$1.2 billion

Coinglass data shows that due to huge market fluctuations, the total liquidation volume of the entire network in the past 24 hours rose to US$1.2 billion , long orders were liquidated to US$895 million, and short orders were liquidated to US$300 million.

▌BTC returned to US$64,000

The market showed that BTC returned to US$64,000 and is now trading at US$64,002.6, an intraday decline Reaching 5.84%, the market fluctuates greatly, please control risks.

Important economic news

▌U.S. stocks closed: stock indexes fell collectively, MicroStrategy fell 21%< /strong>

U.S. stocks closed on Tuesday, with all three major stock indexes falling more than 1%. The Dow initially closed down 400 points or 1%, the S&P 500 fell 1%, and the Nasdaq fell 1.65%. Apple (AAPL.O), which has recently suffered a decline in iPhone sales, closed down 2.8%, while Nvidia (NVDA.O) rose 0.8%. The gap in market value between the two narrowed to US$500 billion. Tesla (TSLA.O), which has suspended production at its Berlin factory, fell 3.9%, Coinbase (COIN.O) fell 5%, and MicroStrategy (MSTR.O) fell 21%. The Nasdaq China Golden Dragon Index closed down 1.49%, and Wei Xiaoli bucked the trend and closed up, with NIO (NIO.N) rising 2.8%.

Golden Encyclopedia

▌ What determines the price of Bitcoin?

Market forces of supply and demand influence the price of Bitcoin. When there are more sellers, prices usually go down and vice versa. Bitcoin prices are also affected by factors such as media reports, investor sentiment, and regulatory news, leading to rapid price fluctuations. Supply and demand market dynamics that affect the prices of other goods and services also determine the price of Bitcoin.  

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.