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Rhythmic Morning Post｜SBF was sentenced to 25 years in prison; WIF reached a record high
Summarized by AI
Selected news:
1. WIF exceeded $3.98 this morning, a record high;
2. Fjord Foundry will issue FJO tokens And airdropped, the snapshot date is March 22;
3. Parcl announced the details of the initial community distribution of tokens: 75 million tokens will be awarded to early users, and 1 million tokens will be rewarded to Mad Lads holders;
4. Fidelity: The increase in validators on the Ethereum network will lead to centralization risks;
5. SBF was sentenced to 25 years in prison in New York for multi-billion dollar fraud
Price Watch
WIF exceeded $3.98 this morning, setting a record high
On March 29, according to market data, WIF exceeded $3.98 this morning, setting a record high. new highs. It is now quoted at $3.8817, a 24-hour increase of 24.16%.
Parcl Points The current floor price on Whales Market is US$0.0015
On March 29, according to Whales Market data, the current floor price of Parcl points is US$0.0015 (that is, the transaction price per 1 million points is 1500 USDC).
VELO continued The rise exceeded US$0.3, and the 24-hour increase expanded to 63.5%
On March 28, according to CoinGecko data, Velodrome Finance (VELO) continued to rise above US$0.3, and is now quoted at US$0.3085, 24 The hourly increase expanded to 63.5%.
Data show that VELO’s 24-hour network transaction volume was US$121.6 million, of which Coinbase accounted for US$49.61 million (approximately 40.79%) and the OKX platform accounted for US$21.14 million. (about 17.39%).
On March 28, according to CoinGecko data, after the attack, the price of Prisma Governance Token (PRISMA) fell by about 20%. The current price is $0.2958.
Data show that PRISMA has almost maintained a downward trend since its release, with a decline of 62.1% in the past 30 days.
GRAIL up Breaking through $2,400, a 24-hour increase of 22.2%
On March 28, according to Bitget data, Camelot Token (GRAIL) rose to break through $2,400, and is now quoted at $2,433, with a 24-hour increase of 22.2% .
Transaction Tracking
On March 28, according to Arkham data, Grayscale transferred 734 BTC to the Coinbase Prime address 15 minutes ago, and transferred another 1,000 BTC to the address starting with bc1q30 (or all of them were transferred to Coinbase, but Arkham has not yet done so) mark).
Project News
Fjord Foundry will issue FJO tokens and airdrop them. The snapshot date is March 22
On March 29, according to the official announcement, the LBP platform Fjord Foundry will issue its native token FJO through LBP. LBP date is: April 16th at 11pm to April 18th at 11pm, LBP supply is 7.5 million pieces (7.5% of the supply). The total supply of FJO is 100 million, and the initial starting supply is expected to be about 15%, about half of which will come from the Fjord LBP activity. After six months, supply reached about 30%. 4% of the total supply of tokens will be distributed to the community via airdrop for three months. The airdrop snapshot was taken on March 22. 1.5% airdrop to Copper Launch and Fjord Foundry V1 users 2.5% airdrop to Fjord Foundry V2 users The theoretical maximum number of tokens a wallet can hold is 1,275 FJO tokens. The tokens will be available for claim within six months of the TGE.
Wormhole airdrop will be available for redemption on April 3
March 29 On April 3, according to official news, the Wormhole airdrop will be available for redemption at 19:30 on April 3.
On March 28, Prisma Finance posted on social media that after a vulnerability affecting many users' personal vaults was attacked, the Prisma protocol has been suspended due to emergency multi-signatures and the remaining funds are safe. mkUSD and ULTRA, as stablecoins, are over-collateralized and risk-free. Prisma will conduct a postmortem and attempt to recover the funds and will continue to communicate through official channels and work to resolve the situation. Vault owners are reminded again to prohibit delegation of LST contracts starting with 0xcC72 and LRT contracts starting with 0xC3eA.
BlockBeats previously reported that on March 28, Prisma Finance suffered a hacker attack. PeckShield posted on social media that the total loss has increased to approximately 3,257.7 ETH (approximately $11.6 million). Due to issues with the MigrateTroveZap contract, attacks against Prisma Finance are still ongoing. The protocol can be suspended via PrismaCore, calling for swift action. According to PeckShield monitoring, the Prisma Finance attacker address has transferred stolen funds (approximately 3,257.69 ETH, worth approximately US$11.6 million) to 3 other addresses.
Ondo Finance Hiring former McKinsey digital asset director as chief strategy officer
On March 28, according to official news, Ondo Finance has appointed Ian De Bode, McKinsey’s former digital asset director, as its chief strategy officer.
It is worth noting that Ondo Finance has made major recruitment moves in the first quarter of this year. Former Goldman Sachs head of digital asset compliance Chris Tyrrell joins as chief risk and compliance officer, former Tether Institutional BD’s Ashwin Khosa as vice president of business development, and former BlackRock vice president Katie Wheeler as vice president of business development, Circle’s Web3 business development Director joins as Vice President of Partnerships.
Degen launched Low-cost Layer 3 blockchain Degen Chain, DEGEN continues to hit record highs
On March 28, according to official news, Base ecological Meme project Degen announced the launch of low-cost Layer 3 blockchain Degen Chain, the network is built using Arbitrum Orbit and AnyTrust DA, and the settlement layer is Base. The native Gas token of Degen Chain is DEGEN. Syndicate becomes Degen Chain’s Layer 3 infrastructure partner.
It is reported that Degen will be launched in the Degen channel community on Farcaster in January 2024. By distributing tokens among builders, content creators, and users, Degen reshapes the Farcaster ecosystem, allowing Casters to use DEGEN to reward others who post quality content. To date, there are 53,000 holders and over 553,000 DEGEN transactions.
According to CoinGekco data, DEGEN has increased by 37% in 24 hours and is now quoted at 0.02035, once again hitting a record high.
Merlin Chain The ecological project Dragonverse Neo will launch the token fair launch tomorrow
On March 28, the Merlin Chain ecological game Dragonverse Neo officially announced today that the fair launch of the token MDBL will be on March 29, Beijing time. It will open at 16:00 on the same day and adopt the Liquid Bootstrapping Pool mode. The initial FDV is 5 million US dollars and M-BTC is used as the payment currency.
Dragonverse Neo is a 3D open world and game L3 chain created by the MOBOX team. MDBL will serve as the core token of the ecosystem, providing holders with rights and interests such as liquidity mining income, game gold, creator income, and creation and governance rights. The total amount of MDBL is 2.1 billion, 69% of which will be released during this fair launch, 31% will be produced in the ecosystem, and the team will not retain any share.
On March 28, Parcl, the real estate market on the Solana chain, issued an article stating that its points The third season of the trilogy is in its final stages, releasing detailed token economics to inform the community. Among them:
75 million PRCL (7.5% of the total) are allocated to Parcl point holders, points are still being accumulated through Season 3 and the final snapshot has not yet been taken. Allocation details for early users will be announced next week. It is worth noting that officials stated that this is the first of many incentive distributions for Parcl protocol participants. Points will remain valid in the future as part of Parcl's permanent points scheme. The next distribution will take place in the second quarter of 2024.
5 million PRCL (accounting for 0.5% of the total amount) will be allocated to the core Parcl community, of which 4 million PRCL (accounting for 0.40% of the total amount) will be allocated to Member of Homeowners Association (HOA). 1 million PRCL (0.10% of the total supply) will be distributed to eligible Mad Lads series NFT holders.
Immunefi： The encryption field lost $336 million in Q1 due to hacking attacks and fraud
On March 28, according to a report released by Immunefi, so far in the first quarter, the cryptocurrency industry has lost $336 million due to hacking and fraud 336.3 million US dollars. DeFi continues to be a major target for hackers, accounting for 100% of the number of vulnerabilities discovered by Immunefi in Q1, while centralized (CeFi) platforms had zero vulnerabilities. Most of the damage was caused by just two projects, Orbit Bridge's $81.7 million and Munchables' $62 million.
However, the number of attacks dropped from 74 in the first quarter of 2023 to 61 in the first quarter of this year, a 17.6% quarter-on-quarter decrease. The $336.3 million loss recorded was a 23.1% sequential decrease compared to the $437.5 million loss recorded in the same period last year.
Circle: Native USDC will be launched on the zkSync network soon
On March 28, Circle officially posted on social media that native USDC will be launched on the zkSync network soon. Over time, native USDC liquidity is expected to grow and replace the current bridged USDC liquidity from Ethereum via the zkSync Era Bridge.
On March 28, according to official news, the anti-money laundering (AML) tracking tool MistTrack announced support for searching and tracking Bitcoin's second-layer network Merlin Chain to ensure on-chain fund transparency, and provide Merlin users with a safe and transparent on-chain experience by detecting and tracing deliberate behavior.
MistTrack is a security product of the Slowmist team. Its founder Yu Xian published the "Blockchain Dark Forest Self-Help Manual" in 2022, which is widely circulated in the circle.
It is reported that Merlin has previously established a security committee, and has joined forces with several security companies including SlowMist to jointly safeguard the security of more than 3.8 billion US dollars of assets and ecological development in Merlin Chain.
On March 28, according to official news, the TON Foundation has airdropped $1 million worth of TON (200,000 TON) to DEX traders to reward users who have traded on DEX since March 4. The snapshot time is 15:00 on March 26, Beijing time. The foundation has conducted a witch address check for this airdrop.
CeFi News
Binance launches "Golden Egg Smashing" event for new users, with a maximum reward of 1 BTC
On March 28, according to official news, Binance launched a "Golden Egg Smashing" event for new users, with a minimum prize of $10 worth of cryptocurrency and a maximum prize of 1 Bitcoin. The event will run from March 28 to April 30. Participants need to complete KYC, and the minimum transaction amount is $50 to unlock the Easter egg reward.
SBF case
On March 28, CNBC reporter Mackenzie Sigalos posted on social media that the sentencing hearing against SBF will be held in the Manhattan Federal Court at 21:30 Beijing time. From his conversations with federal prosecutors and trial attorneys, the two agreed that SBF would receive a sentence of 20 to 30 years in prison.
On March 28, Judge Kaplan said at the SBF sentencing trial , which rejected the defense's arguments regarding (repaid) user losses, both in law and fact, because the suggestion that customers and creditors would be paid in full was misleading, and the defendants compared losses in the bankruptcy case to those at the time The corresponding US dollar amount is equalized (FTX compensates users based on the US dollar amount corresponding to the crypto assets at the time of the thunderstorm at the end of 22).
Kaplan said the occasional increase in the value of some cryptocurrencies had nothing to do with the seriousness of the crimes committed by SBF. (The following is an example) A thief who brings stolen goods to Las Vegas and successfully places a bet is not entitled to a reduced sentence even if he eventually repays it. Users lost significantly more than $550 million in the incident, with its investigation finding investors lost $1.7 billion, lenders $1.3 billion and customers $8 billion.
SBF case Judge: SBF has obstructed justice by committing perjury in the previous trial
On March 28, Judge Kaplan stated at the SBF sentencing trial that he found that SBF had committed perjury in the previous trial. In an act of perjury, he appeared in court and falsely testified that he was unaware that Alameda had spent FTX client funds until the fall of 2022, falsely stating that he first learned of the $8 billion deficit in October 2022. .
Kaplan asked SBF’s lawyer if he would rebut it, and SBF’s lawyer Mukasey said he was unaware of the situation.
Multiple FTX victims appeared in court to accuse the defendant
On March 28, many FTX victims have appeared in court to accuse the defendant. One victim who traveled from London said Judge Kaplan did an excellent job at the trial, a sentiment echoed by many creditors.
A victim named Sunil said that FTX has been claiming on the Internet that it has fully compensated the victims, but this is not the case. The FTX bankruptcy estate party assumed or mischaracterized the victim as an unsecured creditor, when the victim should have title. At least three people committed suicide as a result of the FTX scam.
On March 28, SBF lawyer Mukasey spoke in court and stated that whatever he said today was not No respect for the jury, but they will continue to pursue the appeal and understand very well the pain the victim has endured in this case.
Lawyers said SBF did not want to personally cause pain to anyone in any way, was not a ruthless financial serial killer and was not predatory. He makes decisions with mathematical thinking in his head rather than with malice in his heart.
SBF Lawyer : SBF never squandered and persisted until the last minute in the FTX incident
On March 28, SBF lawyer Mukasey continued to argue in court from the perspective that "SBF did not intentionally do evil".
Lawyers say SBF is misunderstood and it’s easy to fall into the old story of a greedy liar, but SBF never spends money recklessly. He lasted until the very end [in the FTX incident]. He will tell you how important it is to him that people get something back. SBF is a clumsy math nerd with a passion for vegetarianism, an extraordinary intellect, and a billionaire who doesn't care about material wealth. While in high school, SBF reflected on his moral obligations to people around the world.
SBF Lawyer: SBF Never Ever thought about becoming the "King of Cryptocurrency"
On March 28, SBF lawyer Mukasey spoke in court and stated that SBF never wanted to become the king of cryptocurrencies (king of cryptocurrencies). ), he just wants to have the greatest positive impact on the world, not by any means necessary to achieve his goals.
The lawyer said: "SBF's mother said SBF had a deep sadness lurking in his heart. SBF's brother said that when SBF hugged him, he would too Feeling sick. But he knew that if something happened to him and he needed a kidney, SBF would donate one of his. SBF has been in the worst prison in the country for the past seven months."
SBF: Sorry for everything in this case
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On March 28, SBF began to speak in court, saying that he was sorry for what happened at every stage, including what he should have done and said, and what he should not have done. . (Remorse for failure) haunted him every day and he made a series of bad decisions.
SBF because Sentenced to 25 years in prison in New York for multi-billion dollar fraud
On March 28, Reuters reported that SBF was sentenced to 25 years in prison in New York for a multi-billion dollar fraud.
Judge Kaplan in the SBF case said at the final trial: "I know that the government (prosecutor) recommended a sentence of 40 to 50 years, which is unnecessary. But SBF clearly has no remorse whatsoever. I would add that. I don't think it's productive to take the time to spell out every lie. When he's not lying, he's evasive and restless, trying to get the prosecutor to re-write it for him. Question of formulation. I have been doing this work for almost 30 years and have never seen a performance like this. The court sentenced SBF to a total of 300 months in prison (25 years)."
Bloomberg: SBF ordered to be confiscated Over $11 billion in assets
On March 28, Bloomberg reported that SBF was ordered to confiscate over $11 billion in assets.
On March 28, according to The Block, citing people familiar with the matter, FTX locked 41 million SOL. (approximately US$7.5 billion) has attracted many buyers.
It is reported that FTX selected Galaxy Asset Management to promote token sales in September 2023, and the registered investment adviser is allocating tokens to potential bidders, among which Some are raising funds for larger bids. Neptune Digital is the first company to publicly say it has acquired locked SOL from FTX assets. The institution purchased 26,964 SOL at a price of $64 per token. 20% of the tokens will be unlocked in March 2025, and the remaining tokens will be unlocked linearly every month until 2028.
Galaxy Trading was one of the funds raising funds from investors to bid for the locked SOL. Investors can participate for $64 per token and the fund will charge a 1% management fee, according to three sources. BitGo will be the custodian of the tokens.
While some of the transactions have now been completed, some tokens remain, two sources said. They expect the products to be available late next month, although this has yet to be confirmed. One source said the product was in high demand as investors realized they didn’t have enough exposure to the SOL token as the token’s price rose rapidly in the process.
Opinion data
Ark Invest increased its holdings of 79,951 Tesla shares
On March 29, an exchange-traded fund managed by Cathie Wood’s Ark Investment Management bought 79,951 shares of Tesla (TSLA.O). (Golden Ten)
Yesterday, Grayscale GBTC had a net outflow of approximately US$104.9 million.
On March 29, according to data from Farside Investors, Grayscale GBTC had a net outflow of approximately US$104.9 million on March 28, while Bitwise’s BITB has a net inflow of approximately $67 million, and Ark 21Shares’ ARKB has a net inflow of approximately $27.6 million.
Cathie Wood : Selling Coinbase stock is not "selling", but portfolio management
On March 29, according to The Block, Ark Invest CEO Cathie Wood explained the sale of Coinbase (COIN) stock The reason behind it. In an AMA on Thursday, one user asked Ark Invest about its rationale for “dumping” its Coinbase stake. Wood responded: "We're not selling. That's what active management is all about." Wood said, "Since the spring of 2023, Coinbase's The value has increased roughly 9x. It's over 10% of the portfolio. We're just taking profits. It's still our No. 1 holding, and we're reinvesting those profits into companies like Coinbase about a year ago Likewise, stocks affected by short-term news include Tesla and many stocks in the life sciences sector." Previously, Ark Invest reported on March 26, Two days before the Q&A session, 74,291 Coinbase shares worth $20.8 million were sold, with Coinbase's stock price rising by 10%. A month ago, the company sold 96,435 COIN shares for $16 million.
On March 29, Greeks.Live analyst Adam posted on social media that tomorrow is the quarter On the big delivery day, US$15 billion is waiting for delivery, and market participants are stepping up their efforts to move positions. BTC call options are still the absolute main force in moving positions. Among today's large transactions, slippages of 6-8Bp were the main ones, and slippages of more than a dozen Bp were not uncommon. It was a rare good time for participants with careful pricing. Due to the recent high market volatility, the main term IV has not declined significantly, making the current price/performance ratio of selling options continue to increase, and good selling trading opportunities have emerged even in June and September. It is still believed that this weekend will definitely see a significant drop in IV and sellers will be able to take profits soon.
Past 24 The entire network liquidated $160 million in one hour
On March 29, according to Coinglass data, the entire network liquidated $160 million in the past 24 hours, of which $79.1083 million was liquidated for long orders and $79.1083 million for short orders. The single liquidation amount was US$81.2034 million.
Fidelity : The increase in validators on the Ethereum network will trigger centralization risks
On March 28, according to Coindesk, Fidelity Digital Assets wrote in a research report on Thursday that last year 4 The number of validators on the Ethereum blockchain increased rapidly after the Shapella upgrade in March, raising concerns about technical capabilities and centralization.
Fidelity noted in the report: “With the reduced risk brought by increased liquidity, the number of active validators increased by 74%, and as the scale expanded , future roadmap upgrades will become more difficult."
Analyst Daniel Gray believes that the larger the block (data), the more computing power required to process and re-execute the transaction before the next time slot. Each new validator adds a further connection to the network, thereby increasing the overall bandwidth required to maintain consensus. The underlying concern is that as bandwidth demands grow, validators that cannot keep up will be removed from the network. Those removed validators are more likely to be self-hosted nodes. If the average household has difficulty keeping up with the network, then Over time, the risk of centralization increases because the only surviving hardware may be located in an institution-owned data center.
Data: The tokenized asset management scale of U.S. Treasury bonds exceeded US$1 billion
On March 28, according to data from Dune Analytics, the tokenized asset management scale of U.S. Treasury bonds on the blockchain exceeded 10 billion US dollars. billion, reaching US$1.073 billion. Among them:
· Franklin Templeton has $360 million in assets under management. Ranked #1;
· Securitize has $240 million in assets under management. Ranked second;
· Mountain Protocol has $150 million in assets under management. Ranked third.
Financing Express
On March 29, according to official According to news, RWA project Midas completed a seed round of US$8.75 million in financing. This round of financing was led by BlockTower, Framework and HV Capital, with participation from Coinbase Ventures, Ledger, GSR, Hack VC, Axelar and FJ Labs.
Biconomy announced Obtain strategic investment from institutions such as Jump Capital
On March 28, blockchain development tool provider Biconomy issued a statement stating that it had received strategic funding from Jump Capital, Borderless Capital, Consensys Ventures, Taisu Ventures, Manifold Trading, Side Door Ventures and Blockchain Founders Fund to Growth is accelerating as momentum returns to the cryptocurrency market.
On March 28, according to official news, OKX Ventures announced its investment in FLock, a decentralized permissionless platform for AI models and Dapps. , FLock.io By leveraging the synergy of Federated Learning and blockchain technology, Flock solves the growing needs of models and potential data leakage threats, ensuring the accuracy of model training without leaking the underlying source data. security, and provides fair rewards for data contributions and community collaboration.
On March 28, according to The Block, the Web3 AI project FLock.io completed a US$6 million seed round Financing, this round of financing was led by Lightspeed Faction and Tagus Capital, with participation from DCG, OKX Ventures and Volt Capital. The seed round brings the total funding FLock has raised to $8 million, and FLock’s board of directors will not change following this round as FLock remains in the Simple Agreement for Future Equity (SAFE) stage.
Regulatory News
Bitwise submits spot Ethereum ETF application to the US 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.
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