PA Daily | Trump signed a cryptocurrency administrative order; Binance will launch VINE and Pippin perpetual contract
Reprinted from panewslab
01/24/2025·3MToday’s news tips:
The U.S. SEC has officially revoked the crypto accounting policy SAB 121
Trump: America will become the global capital of artificial intelligence and cryptocurrency
Binance will launch VINEUSDT and PIPPINUSDT perpetual contracts
OKX will launch ARC, SWARMS and COOKIE perpetual contracts
Bithumb will list AERO and SOLVE on the Korean won market
Changpeng Zhao: I’ve never bought Meme coins or NFTs, but that doesn’t mean I’m against them
Regulation/Macro
Scammers exploited Trump’s TRUMP tokens to steal more than $857 million through 4 fake tokens
According to Beincrypto, scammers took advantage of the popularity of the TRUMP token issued by Trump last week and sent fake coins to wallets associated with the TRUMP team and its creators, causing cryptocurrency traders who paid close attention to these wallets to mistakenly purchase these worthless coins. value token. They thought the Trump meme team was interested in buying the tokens and had inside information. Scammers anticipate this behavior and profit from it. Four Trump-related scam tokens have generated at least $857.5 million in revenue, according to Global Ledger. These tokens—JMilei, MELON, WTRUMP, and PUTIN—have been cashed out on multiple major exchanges. Further investigation revealed that three tokens, PUTIN, KING, and BUFFET, were associated with the same deposit wallet on Binance. A total of $91.3 million was withdrawn from these wallets. This pattern suggests that the same entity or group may have created and cashed out these tokens.
According to a tweet by American political commentator Brian Tyler Cohen on the X platform, US Republican Congressman Andy Ogles is currently proposing a constitutional amendment to allow Trump to run for a third term.
The U.S. SEC has officially revoked the crypto accounting policy SAB 121
According to the official website, the U.S. Securities and Exchange Commission (SEC) announced the withdrawal of the crypto accounting policy SAB 121 in the latest Staff Accounting Bulletin No. 122. The document withdraws the interpretive guidance contained in Topic 5.FF, titled “Accounting for the Protection Obligations of Entities Holding Crypto-Assets for Users of Their Platforms.” Entities should withdraw Topic 5.FF on a fully retrospective basis for annual periods beginning after December 15, 2024. In addition, the SEC emphasized that entities should continue to be obligated to disclose risks related to the custody of crypto assets in accordance with existing regulations.
According to Fox Business News, Trump signed an executive order to establish the President’s Digital Asset Markets Working Group. The working group is tasked with developing a federal regulatory framework for managing digital assets, including stablecoins, and evaluating strategies. The creation of a national digital asset reserve. The working group will be chaired by White House “AI and Cryptocurrency Czar” David Sacks, and its members include the Secretary of the Treasury, the Chairman of the Securities and Exchange Commission, and the heads of other relevant departments and agencies. The executive order directs the departments to make recommendations to the task force on any regulations and other agency actions affecting the digital asset sector that should be rescinded or modified. In addition, the executive order prohibits agencies from taking any action to establish, issue or promote a central bank digital currency (CBDC). The executive order also revoked the previous government’s “Digital Asset Executive Order” and the Treasury Department’s “Digital Asset International Participation Framework,” saying that these two executive orders suppressed innovation and harmed U.S. economic freedom and global leadership in the field of digital finance. leadership position.
Financing
MinionLab, a decentralized autonomous AI agent network, completed a $2 million Pre-Seed round of financing, led by Jsquare and Capital6 Eagle.
Funds will be used to expand the Minion network. MinionLab will launch more Minions to a wider user base, ensuring wider coverage and more diverse data collection; the artificial intelligence module team will develop specialized modules to solve multi-step websites Tasks such as navigation, advanced data extraction, and other complex use cases; and growing the ecosystem by partnering with AI startups, research institutions, and established enterprises. It is reported that Minions are autonomous AI agents running on user devices. According to previous news, the decentralized autonomous AI agent network All Stream AI announced that it has officially changed its name to MinionLab.
Bitcoin payment startup Breez completes $5 million in funding
Bitcoin payment startup Breez announced the completion of US$5 million in financing, with participation from Entrée Capital, ego death capital, Plan ₿ Fund and Timechain. According to reports, Breez aims to bring Bitcoin payment functionality to every application. In the 18 months since its launch, more than 40 applications have implemented the Breez SDK in production or testing stages. The company is also preparing to launch Misty Breez, a reference application that showcases user-friendly Lightning UX through its nodeless implementation and SDK.
Solana ecological crypto derivatives exchange Ranger Protocol completes US$1.9 million in financing
Solana ecological crypto derivatives exchange Ranger Protocol completed US$1.9 million in financing, led by RockawayX, with participation from Asymmetric, Big Brain Holdings, RISE Capital, Anagram and RockawayX. This round of financing was completed in December last year, with a valuation of US$30 million. Coby Lim, co-founder of Ranger Protocol, said that the protocol is currently planning to add new product lines to allow customers to use AI-assisted trading strategies, with AI expected to be launched in the "next few quarters."
Shared sorter solution Radius completes US$7 million in seed round financing, led by Pantera Capital
Shared sorter solution Radius announced the completion of a US$7 million seed round of financing, led by Pantera Capital. According to reports, Radius is a trustless ordering layer that provides ordering-as-a-service and cross-rollup interoperability solutions for specialized blockchains called rollups. In 2025, Radius will launch Lighthouse to help Rollups gain MEV revenue, and by 2026, Radius plans to expand on Ethereum to increase revenue opportunities.
Decentralized protocol Swarm Network completes US$3 million in seed round financing
Decentralized protocol Swarm Network announced the completion of a US$3 million seed round of financing, led by y2z Ventures and Zerostage. According to reports, Swarm Network is a decentralized protocol that converts raw off-chain data into verifiable on-chain information in real time. Reward integrity and promote transparency by integrating AI agents, human intelligence, and zero-knowledge proofs.
AI
According to Jinshi reports, OpenAI released its first AI agent tool Operator on Thursday, which can perform web-based operations on behalf of users. In addition, OpenAI founder Sam Altman said that the free version of ChatGPT will launch O3-mini.
Trump: Developing artificial intelligence requires doubling U.S. energy supply
US President Trump: In order for artificial intelligence to reach the scale we desire, the United States will need to double its current energy supply. The energy emergency declaration is intended to speed up the U.S. regulatory approval process. We will allow the very rapid construction of energy plants that can run on any fuel required. If (companies) produce products in the United States, the corporate tax rate will be reduced to 15%.
Trump: America will become the global capital of artificial intelligence and cryptocurrency
According to Solid Intel reports, U.S. President Trump mentioned cryptocurrency in his latest speech and stated that the United States is committed to becoming the world capital of artificial intelligence and cryptocurrency.
Project news
Binance will launch VINEUSDT and PIPPINUSDT perpetual contracts
Binance Futures announced the launch of USDⓈ-based VINEUSDT and PIPPINUSDT perpetual contracts, supporting up to 25x leverage. The specific opening time is: the VINEUSDT perpetual contract will be launched at 18:00 (Beijing time) on January 24, 2025, and the PIPPINUSDT perpetual contract will be launched at 18:15 (Beijing time). Additionally, Vine Coin and Pippin have been listed on Binance Alpha Market.
OKX will launch ARC, SWARMS and COOKIE perpetual contracts
OKX announced that it will officially launch the ARCUSDT, SWARMSUSDT and COOKIEUSDT perpetual contracts on the web, App and API from 19:00 to 19:30 on January 24, 2025. The specific opening times are: ARCUSDT contract trading opens at 19:00, SWARMUSDT contract trading opens at 19:15, and COOKIEUSDT contract trading opens at 19:30.
According to X user TCB, THORChain is currently insolvent. Data shows that THORChain’s current liabilities include $97 million in borrowings (ETH and BTC) and approximately $102 million in savings and synthetic assets, while the available assets are only $107 million in external liquidity. TCB stated that THORChain’s lending obligations were fulfilled by minting and selling RUNE tokens, and this design resulted in a high degree of reflectivity, further exacerbating the problem. After repaying $4 million in RUNE liabilities yesterday, the agreement owes millions more RUNE. Validation nodes have suspended network operations and are voting on the reorganization plan. THORChain faces two options: one is to maintain the status quo, about 5-7% of the value will be withdrawn by the first batch of exits, and RUNE will continue to fall; the other is to declare a debt default and retain the valuable part through bankruptcy reorganization, without affecting the feasibility of the agreement Gradually repay creditors on the premise of safety. TCB recommends adopting the second option to maintain network value and achieve long-term development by protecting the rights and interests of liquidity providers. The market situation shows that the price of THORChain (RUNE) is currently trading at $2.27, a drop of 29% in 24 hours. Update: X user TCB released the latest explanation, saying that the THORChain network is still running and only the savings and loan functions are suspended.
Video sharing platform Rumble is about to launch Rumble Wallet, supporting Bitcoin and USDT
Chris Pavlovski, founder and CEO of Rumble, a video sharing platform invested by Tether, said on the A screenshot of the wallet shows that the wallet balance is displayed in USDT and Bitcoin. In addition, Rumble’s official X account posted that creators will be able to receive tips and subscriptions in Rumble Wallet through BTC or USDT.
Blast merges operations with Arcade Research and launches Blast Mobile app
Ethereum Layer 2 network Blast announced on the X platform that it is merging the operations of Arcade Research and the Blast Foundation into a streamlined structure managed by Pacman. Additionally, Blast launched Blast Mobile and offers an annualized yield (APY) of over 50% in USD. Blast Mobile's revenue comes from Blast's own revenue (currently 11.5%, provided by Maker revenue) and BLAST rewards. Earnings are paid in BLAST, so APY fluctuates based on market prices. Blast Mobile is the iOS of cryptocurrency. It allows users to use funds within apps without leaving the wallet or creating separate wallets for each app. First, apps created by Pacman and the Arcade Research team will be released. Then, more whitelisted apps will be gradually rolled out until the whitelist is eventually lifted, with more apps coming soon.
Bithumb will list AERO and SOLVE on the Korean won market
According to an official announcement, South Korean crypto exchange Bithumb will list AERO and SOLVE on the Korean won market.
GMGN data shows that the market value of ALON, the Meme token of the same name of Pump.fun co-founder Alon Cohen, once exceeded US$260 million and is currently back to about US$140 million. According to news earlier today, Pump.fun co-founder Alon Cohen said that he did not create the ALON token, but had taken over the token TG group and paid Dexscreener fees.
point of view
Changpeng Zhao: I have never purchased Meme coins or NFTs, but that doesn’t mean I am against them
Changpeng Zhao posted on the Force anyone to buy (or not buy) Meme tokens (or any cryptocurrency) if you. No, you don't have to participate. But others should have their own choices. I'm a builder myself, but just because I don't understand how to appreciate something, doesn't mean it. I am against them." In addition, Zhao Changpeng reposted "How to be on BNB. Chain's Guide to Issuing Meme Coins, and said it could recommend a consulting team. According to previous news in November last year, Zhao Changpeng said that he had no intention of cracking down on meme currency investment, but only hoped to encourage more developers to participate in the construction.
Vitalik Buterin, co-founder of Ethereum, published the latest blog post "Expansion of Ethereum L1 and L2 in 2025 and Beyond", pointing out that L2 currently faces two main challenges: 1. Expansion: Our blob space can hardly cover the current L2 and use cases. , far from enough to meet future needs. 2. The challenge of heterogeneity: each shard) is created by different participants, the infrastructure treats it as a different chain, and often follows different standards, which translates into composability and user experience for developers and users question. Buterin said that abandoning L2 would sacrifice too many benefits of Ethereum’s current social structure, so it should stick to the current path, mainly through L2 scaling, but make sure that L2 truly delivers on the promise they were meant to deliver. This means:
- L1 needs to accelerate scaling blobs; 2. L1 also needs to moderately scale the EVM and increase gas limits to handle the activities it will continue to have even in a world dominated by L2; 3. L2 needs to continue to improve security ;4.L2 and wallets need to accelerate improvements and standardize interoperability. 5. L2 deposit and withdrawal times need to become faster; 6. L2 heterogeneity is good as long as basic interoperability requirements are met; 7. The economics of ETH should be clearly thought about and need to be ensured even in an L2-dominated In this world, ETH can continue to increase in value, ideally solving various value-added models. The article mentioned that with Pectra scheduled to be released in March, it is planned to increase it to 6 blobs per slot. Regarding the economics of ETH, Buterin said that a multi-pronged strategy should be adopted to cover all major potential sources of value of ETH as a Triple Point asset (store of value asset, cash flow asset, consumable asset). Some key points of this strategy may include: 1. Broad agreement to establish ETH as the primary asset of the larger (L1 + L2) Ethereum economy; 2. Encourage L2 to support ETH with a percentage of fees; 3. Support rollup-based parts Path; 4. Increase the number of blobs, consider setting a minimum blob price, and consider blobs as another possible source of revenue.
Pierre Rochard, vice president of research at Riot Platforms, posted on the , and has invested millions of dollars in politicians trying to hinder the plan. This is also how Ripple has attacked the Bitcoin mining industry during the Biden administration. It is obvious that they want to protect their market propaganda and promote the development of Bitcoin. The network’s CBDC is implemented.”
According to The Block, according to data from Glassnode, Bitcoin’s current price trend is very similar to the pattern of previous market cycles, especially the 2015-2018 cycle. Glassnode’s analysis of Bitcoin’s historical market data highlights significant growth in early cycles. The first cycle began with the genesis block in 2009 and ended in 2011, during which the price of Bitcoin increased 80.51 times. The subsequent 2011-2015 cycle increased by 55.30 times. However, more recent cycles, such as 2015-2018 and 2018-2022, have seen more modest growth rates of 2.80x and 3.31x respectively, reflecting the trend of diminishing returns as Bitcoin matures as an asset class. . In its latest report, Glassnode noted that the current cycle’s growth is very similar to the 2015-2018 cycle. At the corresponding stage of the 2015-2018 cycle, Bitcoin was up 562%. Today, it is up about 630% from the 2022 cycle low of $15,000, suggesting further growth is possible. However, the size of future increases remains uncertain. Bitget Wallet COO Alvin Kan has made a speculative prediction that if Bitcoin can replicate the percentage gains of the 2015-2018 cycle, it could theoretically reach $1.7 million – an increase of 11,374% from its previous low. However, such projections highlight the challenges of applying historical patterns to future scenarios. "While historical cycles provide valuable context, today's market environment is fundamentally different," Kan said.
Vitalik warns: Political tokens 'are tools for unlimited political bribery'
According to The Block, Ethereum co-founder Vitalik Buterin posted on social media on Thursday that political tokens could lead to "unlimited" bribery. Buterin’s comments are part of a broader discussion surrounding trends in the cryptocurrency industry, especially in the context of political leaders such as U.S. President Donald Trump embracing cryptocurrencies. Buterin noted that some parts of the industry are in conflict with each other over their short-and long-term values, likening them to "highly addictive mobile games" and chess. Buterin wrote on , it's time to discuss the difference between short-term 'sugar high' fun and long-term fulfillment and wealth accumulation that is not recommended for newbies. This is not to say 'fun'. Fun is bad', but rather akin to the difference between modern highly addictive mobile games and chess or World of Warcraft. Now it's time to discuss the fact that large-scale political tokens cross another line: More than a source of fun, their harm is limited, at best, to the mistakes of willing participants, they are vehicles for unlimited political bribery, including from foreign governments.” Two recently announced large-scale political coins are TRUMP and MELANIA, both of which are associated with President Trump and First Lady Melania Trump. Both coins were launched before Trump was inaugurated as the 47th President of the United States on January 20 and experienced significant price drops shortly after.
important data
Circle minted an additional 250 million USDC, with a total of 3.5 billion USDC minted within a week.
According to Lookonchain monitoring, Circle newly minted 250 million USDC 14 minutes ago. In the past week, Circle has minted a total of 3.5 billion USDC on the Solana network.
According to SoSoValue data, the total net inflow of Bitcoin spot ETFs yesterday (January 23rd, Eastern Time) was US$189 million. Yesterday, the Grayscale ETF GBTC had a single-day net outflow of US$49.9443 million. The current historical net outflow of GBTC is US$21.752 billion. Grayscale Bitcoin Mini Trust ETF BTC has a single-day net inflow of US$11.9045 million. The current total historical net inflow of Grayscale Bitcoin Mini Trust BTC is US$1.108 billion. The Bitcoin spot ETF with the largest single-day net inflow yesterday was BlackRock ETF IBIT, with a single-day net inflow of US$155 million. The current total historical net inflow of IBIT has reached US$39.573 billion. Followed by Bitwise ETF BITB, the single-day net inflow was US$42.1475 million, and the current total historical net inflow of BITB reached US$2.431 billion. As of press time, the total net asset value of Bitcoin spot ETFs is US$121.599 billion, the ETF net asset ratio (market value as a proportion of the total market value of Bitcoin) reaches 5.94%, and the cumulative historical net inflow has reached US$39.420 billion.
According to Lookonchain monitoring, a trader invested 2,500 USDC to purchase 44.86 million ALON in April 2024 and has been holding it ever since. In the past 4 hours, he sold 28 million ALONs in exchange for 13,534 SOLs (worth $3.41 million), earning a profit of $3.4 million.
Defillama data shows that the Solana ecological DEX transaction volume reached US$226 billion in the past month, becoming the first blockchain in history to have a DEX monthly transaction volume exceed US$200 billion.
chaincatcher
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