headlines
SBF sentenced to 25 years in prison
On March 28, market news was updated. Sam Bankman-Fried was sentenced to 25 years in prison by a judge on Thursday, which is shorter than the 40 to 50 years recommended by federal prosecutors but higher than the six and a half years requested by defense attorneys. (nytimes)
Reuters previously reported that SBF was sentenced to 20 years in prison, which has now been updated to 25 years.
Bitwise Submits Spot Ethereum ETF Application to U.S. SEC
On March 29, Bitwise submitted a spot Ethereum ETF application to the U.S. Securities and Exchange Commission (SEC). Earlier this month, Bitwise CIO Matt Hougan said that a spot Ethereum ETF should ideally be approved after May.
On March 28, Governor Waller, a recent bellwether for Fed policy, said there was currently no sign of an urgent need to cut interest rates. He stressed that recent disappointing inflation data suggested that rate cuts this year may be delayed or reduced.
Waller said he wanted to see at least a few months of better inflation data before cutting interest rates. He pointed to a strong economy and employment as further reasons why the Fed has room to wait.
In my view, based on recent data, it would be appropriate to reduce the overall number of rate cuts or delay them into the future, Waller said in prepared remarks to the Economic Club of New York on Wednesday.
He added: I think economic output and the labor market are showing continued strength, while progress in lowering inflation has slowed. Given these signs, I dont think there is any rush to take steps to start easing monetary policy.
Waller used the word no rush four times during his speech, including in the title of his transcript. (Golden Ten)
Industry news
CME Fed Watch: The probability of the Fed keeping interest rates unchanged in May is 92.7%
On March 28, according to CMEs Fed Watch: the probability that the Federal Reserve will keep interest rates unchanged in May is 92.7%, and the probability of cutting interest rates by 25 basis points cumulatively is 7.3%.
The probability that the Fed will keep interest rates unchanged until June is 35.3%, the probability of a cumulative 25 basis point interest rate cut is 60.2%, and the probability of a cumulative 50 basis point interest rate cut is 4.5%.
Hong Kong financial services firm VSFG plans to launch Bitcoin spot ETF as early as May
On March 28, Hong Kong financial services company VSFG submitted a Bitcoin spot ETF application and plans to launch the ETF as early as May.
Brian Chan, head of VSFGs investment and products group, said that if all goes well, the team hopes to launch a Bitcoin spot ETF in May.
But to be on the safe side, we are also considering June as an alternative time, Chan said. It is difficult to determine the exact date during the regulatory process, but we are in active discussions with the Hong Kong Securities and Futures Commission (SFC). We have Acted quickly on their initial feedback and worked closely together. (The Block)
According to previous news, Brian Chan, head of investment and products at VSFG, said that VSFG and Value Partners have submitted a spot Bitcoin ETF application to the Hong Kong Securities and Futures Commission (SFC).
Crypto market maker GSR lowers chances of Ethereum spot ETF approval to 20% in May
On March 28, crypto market maker GSR lowered the likelihood of Ethereum spot ETF approval in May to 20% from the previous 75%. GSR analysis believes that the US SEC lacks active participation in the approval process and is affected by political pressure. It is expected that the approval process of Ethereum spot ETF may be extended to 2025 to 2026. Bloomberg analysts also lowered the probability of Ethereum spot ETF approval to 30%.
International legal institution in The Hague launches digital asset tokenization plan
On March 28, the Hague Conference on Private International Law (HCCH) launched a digital asset tokenization project aimed at solving the legal confusion of cross-border enterprises. The project will look into different types of digital tokens, such as real estate tokens and payment tokens. At the same time, HCCH is also conducting preliminary research on legal issues related to digital securities and how to manage and control digital assets in blockchain networks.
Project News
Ordinals founder Casey releases Runes documentation to introduce monument upgrade mechanism
On March 28, Casey Rodarmor, founder of the Bitcoin NFT protocol Ordinals, released the Runes document on the X platform. According to the document, Rune allows Bitcoin transactions to etch, mint, and transfer Bitcoin-native digital goods. While each inscription is unique, every unit of the rune is identical; they are interchangeable tokens suitable for multiple uses. Other highlights include:
-Rune protocol messages, called Runestones, are stored in the Bitcoin transaction output; a transaction can only have one Runestone at most, and Runestones can etch a new rune, cast an existing rune, and convert the rune into Runes are transferred from the input to the output of the transaction, and the transaction output can carry any number of runes in balance.
- Runes are formed by etching, which creates a rune and sets its properties. Once set, these properties are immutable;
-The rune etcher can choose to allocate the etched rune units to himself. This allocation is called premine;
-A rune may be publicly minted once, allowing anyone to create and allocate units of that rune for themselves. Public minting is subject to the terms specified at the time of etching, and can only be activated when all terms are met; the number of times a rune can be minted is its upper limit. Once the cap is reached, casting will shut down;
-Runestones may become deformed for a number of reasons, including non-pushdata opcodes in the runestone OP_RETURN, invalid variants, or unrecognized runestone fields. Malformed Runestones are called cenotaphs, and runes entered into the cenotaph trade are destroyed.
Coins from transactions with monuments count toward the minting cap, but minted runes are destroyed.
Monuments are an upgrade mechanic that allow runes to be given new semantics, changing how runes are created and transferred without misleading non-upgraded clients as to where the runes are, as the latter will see that the runes have been be destroyed.
WIF’s market capitalization ranking rose to 38th, surpassing PEPE
On March 29, the market showed that WIF rose to 3.9 USDT, a 23.2% increase in 24 H, and its market value ranking rose to 38th, surpassing PEPE (3.36 billion, 45th place).
On March 28, KuCoin CEO Johnny Lyu issued an open letter, which mentioned that from March 26 to 27, some users experienced longer than expected withdrawal waiting times. To thank users for their support and patience, KuCoin will launch a total of $10 million KCS and BTC airdrop campaign. The rules will be officially announced within 3 days, please be careful of related scams.
Juice has opened Season 1 airdrop claims
On March 28, Blast ecological DeFi protocol Juice posted on the Rewards and Blast Points rewards.
Fantom Foundation Announces Frax Founder Joins Its Sonic-Related Initiative as Angel Investor
On March 28, the Fantom Foundation announced on the X platform that Frax Finance founder Sam Kazemian became the first angel investor to join its Sonic-related program. Frax will deploy its native distribution assets on day one of the Sonic technology stack.
According to previous news, Fantom Foundation CEO Michael Kong said that the project is preparing to launch the next generation product Sonic. Sonic promises 2,000 transactions per second (TPS) with sub-second finality and is expected to launch late this summer or early fall. The team also plans to use Sonic as a shared sequencer for other L1 and L2 chains.
This comes after Kong announced plans to put forward a governance proposal that would include:
Developing a secure, minimal-trust bridge to enable native access to Ethereum.
Simplified staking and liquid staking: Remove staking lock-up time limits, igniting over $1 billion in liquid staking opportunities.
Grant Program: Expanding the Sonic Labs grant program to support those working in areas such as gaming, DeFi, social media, streaming and now distributed artificial intelligence.
Reward activities: Provide a wide range of incentive activities for existing Opera network and new chain users.
Superset introduction: It is planned to enable Superset at the end of 2024 to further improve performance.
Parallel FVM: Explore adding parallelization to Fantom virtual machines to improve performance. More details are planned to be shared in the coming weeks, including new partners, VC/angel investments, target industries and use cases, and audience engagement plans.
Prisma Finance: Protocol suspended, remaining funds safe
On March 28, Prisma Finance announced on the mkUSD and ULTRA, as stablecoins, are over-collateralized and risk-free. Subsequent internal detection and attempts to recover funds will be carried out, and Prisma Finance reminds users to beware of phishing link fraud.
The TON Foundation has airdropped approximately 200,000 TON tokens to some DEX traders
On March 28, according to official news, the TON Foundation has airdropped approximately 200,000 TON tokens to DEX traders on DeDust and STON.fi, with a value of US$1 million. It is reported that the snapshot time of this airdrop has been in central Europe When the shooting is completed at 8:00 am on March 26, the Witch wallet address will be disqualified from the airdrop. If users have exchanged Open League tokens on these two platforms since March 4, they can obtain relevant airdrop incentives.
Wintermute’s DEX Bebop will publicly sell and airdrop the Meme token OHNO
On March 28, Wintermutes DEX Bebop announced that it had launched the public sale of the Blast ecological Meme token Oh no (OHNO) on the platform. The public sale will end after one day or when the subscription amount reaches 10% of the total supply.
In addition, Bebop announced that it will airdrop OHNO to useless NFT holders, OG identity holders and community contributors, and applications are now open.
Odaily reminds users to pay attention to asset security and choose targets carefully.
On March 28, according to feedback from community members, a scammer left a message under Huang Licheng’s tweet and posted a false fundraising contract address. This address holds US$1.66 million in funds, and it is unclear what proportion of the funds was defrauded.
Yesterdays news, Huang Licheng announced the launch of Solana Meme project Bobaoppa on the X platform and started fundraising. The minimum fundraising amount is 1 SOL. Bobaoppa reminds fundraising participants not to send funds to fundraising addresses through exchanges.
Odaily reminds users to pay attention to asset security and choose targets carefully.
On March 28, according to official news, the Web3 card game Cards Ahoy! has launched a global public beta at 8 pm on March 27. So far, more than 2 million people have made reservations to download it, and it has ranked first on the Philippine free game list, and Ranked second on the free list of App Store games in Hong Kong.
Cards Ahoy! is a 60-second fast-paced card game developed by Metalist Game’s senior game development team from well-known game companies such as Riot Games, NetEase, Ubisoft, Blizzard, etc. It has currently reached agreements with Binance, OKX, Ton, etc. Strategic partnership, recently announced a strategic cooperation with NetEases multiplayer online action game Everlasting, and obtained the IP authorization of its iconic characters.
Currently, the Cards Ahoy! Mythic Advent event has been launched. Players can obtain Mythic Cards by opening the season blind box. The current highest transaction price is 38,000 U.
Investment and Financing
Chain game Parallel completes US$35 million in financing, Solana Ventures and others participated
On March 28, according to official news, NFT card chain game Parallel announced the completion of US$35 million in financing, with participation from Solana Ventures, Amber Group, Distributed Global, Big Brain Holdings, OSS Capital, VanEck, Focus Labs, etc.
On March 28, the latest fund of cryptocurrency venture capital institution 1kx received investment from venture capitalists Marc Andreessen, Accolade Partners and Galaxy Digital.
1kx founding partner Lasse Clausen said in an interview that a16z partner Chris Dixon is also one of the partners of the fund. 1kx raised $75 million for the fund. Accolade is the lead investor in the new fund.
Clausen said 1kx is focused on areas such as consumer-facing cryptocurrency applications. The new fund has already made about five investments, he added, without naming the startups it has invested in. (Bloomberg)
On March 28, the intention execution network dappOS completed a US$15.3 million Series A financing, with a valuation reaching US$300 million. It was led by Polychain Capital, Nomad Capital, IDG Capital Vietnam, Flow Traders, IOBC Capital, NGC Ventures, Amber Group, UpHonest Capital, Taihill Venture, Waterdrip Capital, Bing Ventures, Spark Capital and Metalpha participated in the investment. (Cointelegraph)
Character*Voice
BlackRock CEO: Even if the U.S. SEC deems Ethereum a security, an Ethereum ETF may still be launched
On March 28, BlackRock CEO Larry Fink said that even if the U.S. SEC designates Ethereum as a security, the launch of an Ethereum ETF is still possible.
Asked on Fox Business on Wednesday whether BlackRock could still list an ETF holding Ethereum if it were a security, he responded: I think so. (CoinDesk)
BlackRock CEO: Retail investors’ response to IBIT was surprising, surprised by Bitcoin’s rise
On March 28, BlackRock co-founder, chairman and CEO Larry Fink said he was “pleasantly surprised” by retail investors’ response to the company’s spot Bitcoin ETF, saying he was “very bullish on the long-term survival of Bitcoin.” ability.
Fink briefly commented on BlackRocks IBIT in an interview on Wednesday, saying: Prior to the filing, we did not predict we would see this type of retail demand.
“I’m surprised that (Bitcoin) has gone up as much as it has… We’re now creating a more liquid and transparent market,” Fink said of participating in Bitcoin trading. (The Block)
SBF: FTX customers could have been rewarded
On March 28, according to market news, SBF’s court trial was ongoing. SBF said in court: “I made a lot of mistakes. But the story did not end like this. Customers did not get rewards and FTX did not survive. Yes, Customers received conflicting claims, which caused great harm and they could have been compensated.”
Su Zhu: April is structurally bullish, and the Bitcoin halving is coming soon
On March 28, Su Zhu, co-founder of Three Arrows Capital, posted on the ETFs are about to be launched, ordinary people are waking up from their long slumber, there are no NFTs at Art Basel this year, we are still in the early stages.”
