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Daily Legal News: TRB drops over 70% after hitting a historical high of $714.5; BlackRock says it has not received any notification from the SEC regarding approval of its Bitcoin ETF for spot trading.

律动BlockBeats

2024-01-02 09:41

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Selected News:

1. Atomicals' ecological token QUARK has broken through $0.004 per unit, with a 24-hour increase of over 40%.

2.BLUR, SHIB, and METIS are among the top Smart Money inflows in the 24-hour ranking.

3. Orbit Chain's cross-chain bridge was hacked, with damages reaching 81.5 million US dollars.

4. TRB plummeted over 70% after hitting a historical high of $714.5, with the highest liquidation volume in the past 24 hours across the entire network.

5. BlackRock: Has not received any notice from the SEC regarding the approval of its Bitcoin ETF for spot trading;

Price Observation

Atomicals ecosystem token QUARK breaks through $0.004, up more than 40% in 24 hours

On January 2nd, according to Atomicals Market data, the price of QUARK, a Bitcoin Atomicals ecosystem token, broke through $0.004, with a 24-hour increase of over 40%.

BlockBeats Note: The minting cost of ARC-20 tokens is relatively low, and the vast majority of the tokens themselves currently have no use cases. Users should exercise caution and carefully evaluate the risks involved.

SOL rebounds and breaks through $110, with a 24-hour increase of 8.77%

On January 2nd, according to OKX market data, SOL rebounded and broke through $110, now priced at $110.89, with a 24-hour increase of 8.77%.

Bitcoin rises above $45,000, with a 24-hour increase of 5.99%

On January 2nd, according to OKX market data, Bitcoin rose and broke through $45,000, with a current price of $45,019 and a 24-hour increase of 5.99%.

SEI has broken through $0.75 in a short period of time, reaching a new historical high.

On January 2nd, according to market information, SEI broke through $0.75 in a short period of time, reaching a new historical high. It is currently priced at $0.7137, with a 24-hour increase of 27.7%.

KP3R 24-hour surge over 50%, currently trading at $122.2

On January 1st, according to OKX market data, KP3R rose and broke through $120, now trading at $122.2, with a 24-hour increase of 50.33%.

TRB has risen more than 60% in the past 1.5 hours and is now priced at $208.

On January 1st, according to OKX market data, TRB fell below $130 in a short period of time, but rebounded more than 60% within the next 1.5 hours and is now priced at $208.

Transaction Tracking

BLUR, SHIB, and METIS are among the top Smart Money inflows in the 24-hour ranking list.

On January 2nd, according to Nansen 2 data, the Smart Money 24-hour fund inflow tracking list on the Ethereum network is as follows:

BLUR: Approximately 2.43 million US dollars, currently priced at 0.4753 US dollars, with a 24-hour increase of 0.15%.

SHIB: Approximately $420,000, currently priced at $0.00001051, with a 24-hour decrease of 10.38%.METIS: Approximately $330,000, currently priced at $85.44, with a 24-hour increase of 8.6%.

Wintermute transferred 3.27 million ARB, approximately 5.14 million USD, to Binance in the past 24 hours.

On January 1st, according to The Data Nerd's monitoring, Wintermute transferred a total of 3.27 million ARB, approximately 5.14 million US dollars, to Binance in the past 24 hours.

Galaxy Digital deposited 40 million USDC into OKX and withdrew 3236 ETH from Deribit

On January 1st, according to The Data Nerd's monitoring, within the past hour, an address labeled as Galaxy Digital: OTC withdrew 3236 ETH (approximately $7.44 million) from Deribit and deposited 40 million USDC into OKX.

In the past 12 hours, TRB liquidations have reached $55.48 million USD.

On January 1st, according to Coinglass data, the liquidation of TRB reached 55.48 million US dollars in the past 12 hours, more than twice the liquidation amount of ETH (19.49 million US dollars).

TRB hit a historical high of $714.5 and then fell more than 70%, with the highest liquidation volume in the past 24 hours across the entire network.

On January 1st, according to OKX market data, TRB experienced drastic fluctuations in the past 24 hours. After reaching a historical high of $315 at 20:47 last night, it briefly fell 25% to $232 and then rose over 200% within 7 hours, reaching a new historical high of $714.55 at 4:26 am today. After a brief consolidation, it began to plummet and fell 73% within 3 hours, currently trading at $270.

In addition, since the early hours of today when it rose to a high, TRB has had varying degrees of premium between major platforms, spot and contract trading pairs. Currently, Bybit platform still has about 20% premium compared to other platforms.

According to Coinglass data, the liquidation amount of TRB in the past 24 hours reached 57.78 million US dollars, nearly twice the liquidation amount of BTC (24.3 million US dollars), due to the drastic price fluctuations of TRB.

Regulatory News

Legal experts say FTX bankruptcy case could last for yearsOn January 2nd, according to The Block, the FTX bankruptcy case may take several years to resolve. This is mainly due to FTX lawyers attempting to recover multiple payments made by the exchange prior to its bankruptcy, resulting in multiple retrospective claims. Legal expert Alan R. Rosenberg pointed out that compared to other cryptocurrency bankruptcy cases such as Celsius and BlockFi, the FTX case submitted in November last year will take longer to resolve.

FTX is currently working to recover funds spent by its former leadership, while also facing a claim from the US Internal Revenue Service for up to $24 billion, alleging that FTX did not fully pay its taxes. In addition, FTX is also dealing with multiple lawsuits, including lawsuits against former CEO Sam Bankman-Fried and his parents, as well as payment recovery against its charitable organizations and several celebrities. These lawsuits are typically resolved through out-of-court settlements, but the negotiation process itself also takes time.

In addition, how to calculate the value of cryptocurrency over time and whether creditors should be repaid in cryptocurrency or fiat currency has become a challenge in cryptocurrency bankruptcy.

BlackRock: No notice yet from SEC on approval of its Bitcoin ETF

On January 2nd, according to Fox Business reporters Eleanor Terrett and Charles Gasparino, although the SEC's actions are difficult to predict, considering that the SEC still needs to review and comment on the S-1 form submitted last Thursday and Friday, it is unlikely to be approved early this week. Terrett pointed out that based on her communication with the issuer, the SEC may notify the issuer of the final submission date of the S-1 form after this round of review, and make it effective within the next 24-48 hours, similar to the approval timeline for Ethereum futures in October last year. At the same time, Charles Gasparino learned from BlackRock that the institution has not yet received any news from the SEC.