Today's Headlines:
- Coinbase Commerce removes support for native Bitcoin and other UTXO currencies
- AltLayer completes $14.4 million strategic financing round, led by Polychain Capital and Hack VC
- OpenAI completes employee stock sale, latest valuation at $86 billion
- Bitcoin staking chain BounceBit plans to launch mainnet in April
- On-chain address "Teneo" of "Three Arrows Capital liquidation party" holds 75 million WLD, equivalent to $557 million
- Ordinals developer: Rune project Runestone progress reaches 90%, over 110,000 addresses to receive airdrop soon
- Data: $380 million worth of AVAX tokens to be unlocked this week
- FixedFloat suspected to have lost $26.1 million worth of Bitcoin and Ethereum in security incident
Regulatory News:
- Japan seeks to allow certain venture capital firms to directly invest in cryptocurrency and Web3 startups
- South Korea's ruling party considers delaying imposition of cryptocurrency investment income tax for another two years
AI:
Project Updates:
- Coinbase Commerce removes support for native Bitcoin and other UTXO currencies
- FixedFloat suspected to have lost $26.1 million worth of Bitcoin and Ethereum in security incident
- Y Combinator: Stablecoins will become an important part of the future of currency
- Bitcoin staking chain BounceBit plans to launch mainnet in April
Bitcoin Cats announces upcoming launch of EVM-compatible Bitcoin L2 network 1CAT Chain
Bitcoin gaming project Bitcoin Cats has announced the upcoming launch of 1CAT Chain, an EVM-compatible Bitcoin Layer 2 network aimed at building a decentralized entertainment ecosystem centered around meme culture. Key features of 1CAT Chain include a dual token model ($BTC and $1CAT usable as fuel), compatibility with assets on BTC and ETH, as well as modularity, scalability, and EVM compatibility.
Binance Futures to launch USDC-margined ORDI perpetual contract
Binance Futures will launch the USDC-margined ORDI perpetual contract with leverage of up to 75x on February 22, 2024, at 15:00 (Beijing time).
FTX Digital to hold creditors' meeting on March 15
FTX Digital Markets Ltd. (in official liquidation) will hold its first creditors' meeting on March 15, 2024, at 10:30 am (Eastern Daylight Time) in Nassau, Bahamas. The purpose of the meeting is to establish a liquidation committee in accordance with Rule 8 of the 2012 Company Liquidation Rules for FTX Digital's official liquidation process. The meeting will provide the latest updates and guidance on the liquidation process by the Joint Official Liquidators (JOLs) and introduce information about the claims process to clients and non-client creditors of FTX Digital. Participation in the meeting can be done through submission of electronic proofs and voting forms, in-person attendance, or live streaming. The meeting is not mandatory and does not affect the claims process.
Decentralized auction platform Bounce Brand has updated detailed information about the IDO of the Bitcoin L2 network XRGB on Bounce Launchpad. The IDO will take place from February 20, 20:00 to February 21, 20:00 (Beijing time) with a fixed price auction in ETH, and each XRGB token priced at $0.0476. The IDO will offer 6.3 million tokens (3% of total supply). The XRGB IDO is only available to users who stake at least $100 worth of AUCTION on BounceBit. The snapshot will be taken at 20:00 (Beijing time) tonight. To ensure allocation of XRGB, participants are advised to stake at least $100 worth of AUCTION on BounceBit before 20:00 today.
XRGB is designed as an interoperability framework specifically for Bitcoin and ERC404 assets, aiming to enhance the liquidity and efficiency of Bitcoin assets through decentralized messaging and fluid transfer mechanisms. Additionally, the XRGB Chain built on the XRGB protocol combines advanced transaction privacy features of the RGB protocol and aims to be the ultimate Layer 2 solution for Bitcoin DeFi, emphasizing scalability and privacy.
According to the XRGB token economics, the total supply of the token is 210 million, with 5% allocated to public sale, 2.5% to private sale, 50% to community incentives, 17.5% to the ecosystem, 10% to marketing reserves, 5% to LP, and 10% to the team.
Ordinals developer Leonidas has announced on X platform that the experimental Rune project Runestone has reached 90% progress, with art and funding partnerships secured, and no team allocation for the project. 112,383 addresses are set to receive Runestone in the Ordinals airdrop.
Funding News
AltLayer completes $14.4 million strategic financing round, led by Polychain Capital and Hack VC
According to CoinDesk, Rollup-as-a-service protocol AltLayer has completed a $14.4 million strategic financing round, led by Polychain Capital and Hack VC. The team stated, "With growing strategic partnerships and key project developments, the company is focused on expanding the global team around our infrastructure innovation and Restaked Rollups."
AltLayer is a platform aimed at launching native and restaked Rollups, supporting the Optimistic and ZK Rollup stack. The project is also the 45th project on Binance Launchpool.
Key Data
Data: $380 million worth of AVAX tokens to be unlocked this week
Token Unlocks data shows that this week, tokens including AVAX, ID, and DYDX will undergo significant unlocks, totaling over $400 million. Specifically:
AVAX (Avalanche) will unlock 9.54 million tokens on February 22 at 8:00 am, worth approximately $380 million, accounting for 2.6% of the circulating supply;
ID (SPACE ID) will unlock 18.49 million GAL tokens on February 22 at 8:00 am, worth approximately $10.73 million, accounting for 4.29% of the circulating supply;
DYDX (dydx) will unlock 575,000 tokens on February 20 at 11:00 pm, worth approximately $1.78 million, accounting for 0.19% of the circulating supply; a total of 2.16 million tokens will be unlocked this week, worth $682,000, accounting for 0.72% of the circulating supply.
Additionally, ACA (Acala) and 1inch (1INCH) will also see token unlocks worth tens of thousands of dollars this week. STRK (Starknet) will undergo token release/distribution on February 20 at 8:00 am.
CME Bitcoin futures open interest reaches $6.75 billion, hitting a record high
Coinglass data shows that the total open interest of Bitcoin futures contracts across all platforms is 458,600 BTC (approximately $237.2 billion). Among them, the Chicago Mercantile Exchange (CME) has reached 130,710 BTC (approximately $67.5 billion) in open interest, hitting a record high and ranking first; Binance Bitcoin futures open interest is 112,950 BTC (approximately $58.4 billion), ranking second.
Alameda Research still holds 25 million WLD, accounting for 19% of the circulating supply
According to Spot On Chain monitoring, Alameda Research currently holds 25 million WLD (worth approximately $167 million), accounting for about 19% of the circulating supply. These $WLD tokens were acquired from Worldcoin on August 15, 2023, at a price of only $1.78 (approximately $44.4 million), and these tokens have remained untouched to this day.
Scopescan data shows that the address starting with 0xc7c, labeled as "Teneo: 3AC Liquidation (Teneo, the liquidation party of Three Arrows Capital)," currently holds a total value of $591 million in crypto assets. It currently holds 75 million WLD tokens, worth approximately $557 million, accounting for 94% of its wallet's total assets. Other assets include: 8.437 million DYDX, 5.75 million USDC, 160,000 AXS, and 101.98 ETH.
Earlier today, Zhu Su stated that Three Arrows Capital, as a creditor, is one of the largest WLD holders, having previously invested in Worldcoin in 2021.
PIXEL reaches $0.598 on Binance shortly after listing, currently up 1197.25% from the opening price
Binance market data shows that PIXEL briefly reached $0.5980 after listing, and is currently trading at $0.5189, up 1197.25% from the opening price of $0.04.
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