Organized by: Fairy, ChainCatcher

Important News:

• Alipay homepage of mainland Chinese users features cryptocurrency fund promotion ads
• Binance will change its SAFU address, during which a large amount of USDC will be transferred
• Binance will launch Usual (USUAL) spot trading pair on December 18
• DEXX founder: Suspects in the platform theft case have been identified domestically
• South Korean Financial Supervisory Service investigates Coinone over Movement token price volatility
• OKX will launch GOAT spot trading
• Zhao Changpeng: Live demonstrations and business cards are effective ways to introduce projects to me
• Trump family's cryptocurrency project WLFI is converting stablecoins to ETH, current holdings valued over $50 million
• Foreign media: Binance plans to gradually increase USDC holdings in its corporate treasury

"What important events occurred in the past 24 hours"

Binance will change its SAFU address, during which a large amount of USDC will be transferred

Binance posted on X that it will change its SAFU address, during which a large amount of USDC (ETH) will be transferred.

Binance CEO: Binance user fund deposits will reach $21.6 billion in 2024

Binance CEO Richard Teng stated on X that Binance user fund deposits will reach $21.6 billion in 2024, with average Bitcoin deposits increasing from 0.36 BTC to 1.65 BTC.

USDT deposits surged from $19,600 to $230,000, reflecting growing interest from professional and institutional investors in USDT.

Australian asset management company AMP purchases $27 million in Bitcoin

According to Bitcoin Magazine, Australian asset management company AMP, which manages $56 billion in assets, recently purchased $27 million worth of Bitcoin.

Binance will launch Usual (USUAL) spot trading pair on December 18

Binance will end pre-trading for Usual (USUAL) on December 17, 2024, at 17:00 (UTC+8), and will open spot trading for USUAL/BTC, USUAL/USDT, USUAL/FDUSD, and USUAL/TRY on December 18, 2024, at 19:00 (UTC+8).

DEXX founder: Suspects in the platform theft case have been identified domestically

DEXX platform founder Roy stated in an exclusive interview with Odaily Planet Daily that the suspects in the case have been identified domestically, but the investigation process is very complex, involving significant time and resource costs. Law enforcement agencies began intervening early on, and to ensure the investigation proceeds smoothly, details were not disclosed to the public until December 6. Early disclosure could affect law enforcement progress or alert the suspects, so information disclosure needs to be cautious.

Roy mentioned that for the team, handling the incident requires cooperation with law enforcement agencies and incurs high technical and management costs. Additionally, due to the complex technical details and the interests of investment institutions involved in the case, further confirmation is needed on what information can be made public.

Previously, the trading platform DEXX experienced a major security incident on November 16, where hackers exploited a technical vulnerability to steal over $21 million in user funds, affecting nearly 1,000 victims.

BlackRock's Bitcoin spot ETF has surpassed its gold ETF in size

CryptoQuant founder Ki Young Ju posted on social media that data shows BlackRock's Bitcoin spot ETF (IBIT) has now surpassed its gold ETF in assets under management, with billions of dollars flowing into the Bitcoin market weekly. SmartMoney already knows which is better, with gold's market cap at $17 trillion and Bitcoin's at $2 trillion.

South Korean Financial Supervisory Service investigates Coinone over Movement token price volatility

According to South Korean media MTN, the Financial Supervisory Service has launched an investigation into the exchange Coinone, focusing on the abnormal price surge and subsequent sharp decline of the Movement token shortly after its listing.

The investigation will verify whether there was unfair trading and check if Coinone's internal monitoring system is functioning properly. Additionally, the reasons for Coinone listing the token ahead of other exchanges, potentially due to insufficient liquidity, will also be a focus of the investigation.

Officials stated that if abnormalities are found, proactive measures will be taken.

OKX will launch GOAT spot trading

According to an official announcement, OKX will launch GOAT spot trading, with the GOAT/USDT spot trading opening at 18:00 (UTC+8) on December 12, 2024.

Zhao Changpeng: Live demonstrations and business cards are effective ways to introduce projects to me

Binance co-founder Zhao Changpeng stated on X: "Live demonstrations are worth more than a thousand words.

Many people try to pitch their projects to me at conferences, often taking selfies with me. This does not work. I am not smart enough to understand a project in seconds.

Business cards are more useful to me. I can easily hand them to my team, which is much easier than asking for my contact information."

Cryptocurrency mining chip design company Nano Labs completes $36.25 million private placement

Cryptocurrency mining chip design company Nano Labs has completed its previously announced private placement of 5,611,459 shares of Class A common stock at a purchase price of $6.46 per share, raising approximately $36.25 million. The total purchase price was paid in USD, Bitcoin, and USD.

Foreign media: Binance plans to gradually increase USDC holdings in its corporate treasury

According to TechinAsia, Binance plans to gradually increase its USDC holdings in its corporate treasury.

Trump family's cryptocurrency project WLFI is converting stablecoins to ETH, current holdings valued over $50 million

According to The Block, on-chain data shows that Trump family's cryptocurrency project World Liberty Financial (WLFI) purchased $5 million worth of ETH on Wednesday. This brings the project's total ETH balance to over $50 million, primarily accumulated in recent weeks.

The wallet conducted three separate transactions about four hours ago, receiving 1,285 ETH from CoW Swap. The wallet appears to be using profits from the ongoing WLFI token sale to purchase these ETH, mainly through its substantial stablecoin holdings. The company also seems to have sent funds directly from the World Liberty contract address starting with 0xe217e15b to a wallet starting with 0x5be9a495, which has no outgoing transactions.

Analysis indicates that converting stablecoins to ETH suggests that World Liberty Financial is seeking to engage more deeply in the crypto economy. It may also indicate that the team believes ETH is a better reserve asset than the dollar. Notable Ethereum investor and advisor Eric Conner first noticed these transactions, stating in a private message: "They converted all the stablecoins they received into ETH."

Alipay homepage of mainland Chinese users features cryptocurrency fund promotion ads

According to community users, some mainland Chinese users have recently received cryptocurrency fund promotion ads on their Alipay homepage, stating "Global investment, cryptocurrency soaring, starting from 10 yuan, get on board immediately." Upon verification, the fund is Huabao Overseas Technology C (QDII-FOF-LOF), a compliant investment model for overseas assets, indirectly holding Coinbase stock and ARK Invest Bitcoin spot ETF. Currently, each person is limited to purchasing 1,000 yuan per day.

Stablecoin payment platform KAST completes $10 million seed round financing, led by Peak XV and HongShan

According to Techcrunch, the stablecoin payment platform KAST has completed a $10 million seed round financing led jointly by HongShan, a spinoff of Sequoia, and Peak XV.

KAST is a stablecoin-based quasi-bank platform that allows users to hold and use stablecoins through traditional payment channels and provides credit card services usable at standard merchant networks, enabling users to spend their stablecoin assets at merchants that do not support cryptocurrency payments.

The platform was co-founded by former Circle Asia Pacific head Raagulan Pathy and former Quona Capital partner Daniel Bertoli, primarily targeting users in emerging markets, especially offshore workers. KAST reduces cross-border payment costs by bypassing traditional banking networks and is currently not operating in China and India due to regulatory restrictions. DST Global and Goodwater Capital also participated in this round.

"What are the noteworthy articles to read in the past 24 hours"

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