WuBlockchain Weekly: U.S. Government Address Allegedly Attacked in $20M Crypto Transfer, Stripe Acquires Stablecoin Platform Bridge for $1.1 Billion, Kraken Plans Launch of Layer 2 Network, etc
1. SEC Chair Gary Gensler Congratulates Bitcoin Whitepaper on Its 16th Anniversary link
In a recent interview with Bloomberg, SEC Chairman Gary Gensler congratulated the Bitcoin whitepaper on its 16th anniversary but reiterated that the SEC would continue its “regulation by enforcement” approach to protect investors. The SEC’s review division has listed crypto assets as a priority for 2025. Notably, when asked how he would respond if Trump were re-elected in 2024, Gensler declined to comment on the possibility of being dismissed.
2. Ripple Co-founder Donates Another $10 Million in XRP to Support Harris link
On Monday, Ripple co-founder Chris Larsen announced an additional $10 million donation in XRP to support Vice President Kamala Harris’s presidential campaign, following his earlier $1 million XRP donation in August through the same organization. Larsen stated in a tweet that supporting Harris’s campaign is vital to ensuring the U.S. remains a leader in technological innovation, particularly in the field of cryptocurrency.
3. Vitalik: Michael Saylor’s Advocacy for Regulatory Capture to Protect Crypto Is Nonsense link
Vitalik stated that Michael Saylor’s remarks are utterly nonsensical, pointing out that Saylor appears to advocate for regulatory capture as a means to protect cryptocurrencies (“when regulated public entities like BlackRock and Fidelity hold assets, all legislators and law enforcement have a stake in those entities”). Vitalik criticized this approach, noting that there are numerous historical precedents where such a strategy has failed, and he emphasized that this is not aligned with the core principles of cryptocurrency.
4. BlackRock ETF Director: 75% of Bitcoin Buyers Are New Crypto Enthusiasts from Wall Street link
Samara Cohen, BlackRock’s Head of ETFs and Index Investments, revealed that 75% of Bitcoin buyers in their ETF are new to cryptocurrency from Wall Street. She noted that investor demand for Bitcoin is primarily met through investment tools like ETFs, rather than directly via crypto exchanges. Data shows that 80% of Bitcoin ETF buyers are direct investors, with 75% being first-time purchasers of BlackRock’s iShares products. One of BlackRock’s key strategies is to educate cryptocurrency investors on the advantages of ETFs.
5. Tether’s Profits Surpass BlackRock Last Year, Stablecoins Emerging as Key Crypto Technology link
The latest Q3 2024 Crypto Market Report from Bitwise reveals that stablecoins are emerging as a critical application of cryptocurrency technology, with their influence extending into trillion-dollar markets. According to Bitwise, global stablecoin transaction volume reached $5.1 trillion in the first half of 2024, approaching Visa’s $6.5 trillion transaction volume. The top five stablecoins now hold more U.S. Treasury bonds than some G20 nations like South Korea and Germany. Stablecoin issuers primarily generate revenue by holding interest-bearing assets like U.S. Treasury bonds, significantly boosting profitability. Notably, Tether’s profits last year even surpassed those of asset management giant BlackRock.
6. Payments Firm Stripe Acquires Stablecoin Platform Bridge for $1.1 Billion link
According to TechCrunch founder Michael Arrington, payment company Stripe has acquired stablecoin platform Bridge for $1.1 billion. Bridge provides software that enables businesses to accept stablecoin payments, marking an expansion in Stripe’s cryptocurrency adoption efforts. Previously, Bridge raised $58 million from investors, including a $40 million Series A round, valuing the company at $200 million. The $1.1 billion acquisition price represents a significant increase from its previous valuation, making this Stripe’s largest acquisition to date and one of the biggest acquisitions in the crypto industry.
7. Binance CEO Richard Teng: Tigran Gambaryan Finally Released in Nigeria link
Binance CEO Richard Teng announced that Tigran Gambaryan has been safely released after being detained in Nigeria for nearly eight months, during which he demonstrated remarkable resilience and fortitude. He will reunite with his family and receive much-needed medical care. Binance reiterated its commitment to closely collaborating with global regulatory authorities to ensure compliance and transparency in the ever-evolving digital asset landscape. Prior reports indicated that the Nigerian government had withdrawn its charges against Binance executive Tigran Gambaryan.
8. Crypto Exchange Kraken to Launch Its Own Blockchain, Ink, in Early 2024 link
Cryptocurrency exchange Kraken plans to launch its proprietary blockchain, Ink, in early 2024 to facilitate DeFi trading, lending, and staking services. Founder Andrew Koller stated that Ink’s technology will be similar to Coinbase’s Base, with a testnet expected to go live later this year and the mainnet opening to retail and institutional users in the first quarter of next year. Kraken intends to provide applications on Ink through Kraken Wallet, with over 12 DeFi applications initially set to launch, potentially expanding to include real-world assets and advanced lending applications in the future. Like Coinbase, Uniswap, and Worldcoin, Kraken has also opted for the OP Stack’s Ethereum Layer 2 solution.
9. Argentina Drafts New Crypto Asset Regulations link
Argentina’s securities regulator (CNV) has recently unveiled a regulatory draft concerning the operations of Virtual Asset Service Providers (VASPs), aimed at enhancing the protection of cryptocurrency users while imposing new compliance requirements on industry participants. The draft’s key provisions include: mandating crypto firms to disclose agreements with third parties and clients; establishing policies and cybersecurity standards to prevent money laundering and terrorist financing; and setting minimum capital requirements for different types of crypto companies, with institutions providing transfer, custody, and virtual asset management services required to maintain a minimum capital of approximately $173,000.
10. Arkham: Suspected Attack on U.S. Government Wallet Address Results in Transfer of Over $20 Million to Suspicious Address link
According to Arkham monitoring, an address marked as “U.S. Government: Bitfinex Hacker Seized Funds” was reportedly attacked by a suspicious address, 0x348…0A9f, resulting in the transfer of over $20 million in assets. The address 0x348…0A9f has converted assets like USDT and USDC into ETH and deposited them into multiple addresses labeled as “Binance Deposit Addresses.” Arkham suspects that the attacker has started laundering funds through addresses associated with money-laundering services. ZachXBT noted that these addresses are not related to Binance but rather utilize nested Binance liquidity pools. The address still holds over $13.19 million in AUSDC.
Fundraising
AI payment company Skyfire has announced a strategic investment from Coinbase Ventures and a16z. link
Binance Labs has announced its investment in Moonwalk Fitness, a blockchain-based fitness incentive application. link
ZEROBASE has completed a $5 million funding round led by Binance Labs and others. link
Bitcoin re-staking platform Echo has announced the completion of its Pre-Seed funding round. link
B² Network has finalized a new funding round with participation from Animoca Brands and others. link
The Malaysian digital asset exchange Hata has secured $4.2 million in seed funding. link
DAO funding management solution provider Karpatkey has completed a $7 million financing round. link
DeFi platform Azura has announced the completion of its $6.9 million seed funding round. link
Blockchain payment company Borderless.xyz has secured $3 million in seed funding. link
Fluid Protocol has announced the completion of a $3.9 million seed funding round led by Bloccelerate. link
Cryptocurrency trading platform Variational has completed a $10.3 million seed funding round. link
Web3 mobile gaming platform Party Icons has secured $9 million in seed funding. link
Shuttle Labs has announced the completion of a $6 million seed funding round. link
European digital asset marketplace STOKR has completed a funding round of $7.98 million. link
Web3 game developer Opti Games has announced the completion of a $2 million funding round. link
Sui Foundation has announced a strategic investment in the modern art RWA project Arttoo. link
Learn more, check out crypto-fundraising.info.
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Category: China News
Post by: TheBitTimes.com
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