Today's News Highlights:
PIPPIN breaks $0.23, rising over 20 times in a week
Ethereum and Solana staking in the UK will no longer be classified as collective investment schemes
Binance launches AIXBT, CGPT, and COOKIE spot trading pairs
Grayscale updates asset examination list, covering KAS, APT, TIA, etc.
Artela announces token economic model: 62% allocated to the community
Sui Hydropower Accelerator announces 12 selected teams, including 7k, AdToken, etc.
Regulation/Macro
According to Beijing Business Today, on January 10, the Ministry of Public Security held a press conference where spokesperson Zhang Ming introduced the telecom network fraud issues related to Myanmar that have garnered public attention. Since the deployment of a special operation to combat telecom network fraud related to Myanmar in July 2023, the Ministry has relied on the China-Myanmar law enforcement cooperation mechanism to command police forces in Yunnan, Zhejiang, and other regions to work together in investigations. By the end of 2024, over 53,000 Chinese nationals involved in fraud have been arrested, completely dismantling the notorious "Four Families" criminal group in Myanmar's Kokang region. The large-scale telecom fraud parks near the Chinese border have been eradicated, achieving significant results in the special operation, leading to a substantial decrease in the number of telecom network fraud cases and losses nationwide. Currently, cases involving the "Four Families" criminal group have begun to enter the litigation phase. Despite the significant achievements in combating and governing these issues, the current crime situation remains severe and complex. This includes escalating offensive and defensive confrontations, with fraud groups utilizing new technologies such as blockchain, virtual currency, and AI to continuously upgrade their criminal tools.
ScaleBit: Discovery of a 0-day vulnerability that can transfer all assets from Uniswap Wallet
The ScaleBit security team under BitsLab reported that in October 2024, they discovered a vulnerability in the Uniswap iOS wallet, named "Unauthorized Access to Mnemonic Phrase." This vulnerability allows attackers with physical access to the device to bypass the wallet's authentication mechanism and directly access the mnemonic phrase stored on the device. The root cause of this vulnerability lies in the flawed design of the storage and access mechanism for the mnemonic phrase. The mnemonic phrase is not effectively encrypted at the application layer, and the triggering conditions for the recovery page are unreasonable, allowing attackers with physical access to easily bypass the wallet's authentication mechanism and directly obtain the mnemonic phrase. Currently, this vulnerability still exists in the latest version of Uniswap Wallet (Version 1.42), posing potential risks to all users of the wallet. Therefore, users need to pay extra attention to the physical security of their devices during use to avoid leaking unlock passwords or lending their devices to others.
Former UK Prime Minister Truss claims to be a supporter of Bitcoin and cryptocurrencies
According to Cointelegraph, former UK Prime Minister Liz Truss stated, "I am a supporter of Bitcoin and cryptocurrencies, and I think they are great." It is reported that Truss was the shortest-serving Prime Minister in the UK, resigning after just 49 days due to soaring borrowing costs caused by the government's mini-budget.
Russia "begins selling" 1,032 bitcoins seized in a fraud case
According to Cryptonews, Russia has begun selling the bitcoins seized during the investigation of the Infraud hacker organization in 2023. This move indicates that Moscow aims to convert over 1,000 bitcoins into fiat currency. The Russian state news agency TASS confirmed this development, stating that Moscow will first sell nearly $10 million worth of bitcoins confiscated from former investigator Marat Tambiev of the Russian Investigative Committee. Last year, Tambiev was convicted of accepting bribes from the hacker organization. Prosecutors found hundreds of bitcoins on his computer and storage devices. The former investigator was convicted of receiving 1,032.1 bitcoins from the organization and was sentenced to 16 years in prison. However, the efforts of the bailiffs to liquidate all 1,032.1 bitcoins have become complicated due to legal obstacles. Tambiev appears to have divided these bitcoins into several smaller amounts. This means that the bailiffs must submit separate court rulings to allow Moscow to access these bitcoins. Nevertheless, the bailiffs have successfully persuaded the court to allow them to sell the first batch of bitcoins. They stated that Tambiev stored these bitcoins in a Ledger Nano X hardware wallet. TASS cited sources saying that prosecutors also hope to sell another batch of "worth millions of rubles" in bitcoins, and they also wish to sell "several properties in the Moscow region" and a "Honda motorcycle."
Ethereum and Solana staking in the UK will no longer be classified as collective investment schemes
According to CryptoSlate, the UK Treasury has amended the Financial Services and Markets Act (FSMA), which will take effect on January 31, excluding cryptocurrency staking from the classification of collective investment schemes. Under this change, staking with ETH and SOL will only be regarded as a blockchain validation process and will no longer be subject to the regulatory requirements applicable to collective investment schemes. Previously, due to ambiguous regulatory definitions, there was a risk that staking could be classified as traditional collective investment tools, which must comply with stricter FSMA regulations. The amendment clarifies that staking involves participants locking up cryptocurrencies to validate blockchain transactions and ensure network security, which is fundamentally different from collective investment schemes and requires a tailored regulatory framework. Bill Hughes, a lawyer at ConsenSys, welcomed this move, considering it an important step for the industry, and emphasized that the UK's legal tradition has taken a tough regulatory approach to collective investment schemes, which could hinder industry development. Notably, this move aligns with the UK's broader strategy to promote innovation in the cryptocurrency sector while maintaining appropriate regulations to protect market participants.
Cynthia Lummis prepares to lead the newly established U.S. Senate Digital Assets Subcommittee
According to The Block, the U.S. Senate Banking Committee plans to appoint cryptocurrency-friendly Senator Cynthia Lummis to lead the newly established Digital Assets Subcommittee, fulfilling the commitment of the new chair. Some Republican members of the Senate Banking Committee have preliminarily selected the leaders and members of the subcommittee, but it still requires a committee vote for confirmation. Senate aides revealed that Lummis will lead a Digital Assets Subcommittee, which will include pro-crypto Senators Bill Hagerty and newly elected Senator Bernie Moreno. The incoming committee chair, Tim Scott, previously stated that he would establish a subcommittee focused on digital assets if elected. In contrast, the current chair, Sherrod Brown, has taken a critical stance towards the cryptocurrency industry, calling for a crackdown on related illegal activities. The leadership of the Senate Banking Committee is also crucial, as the chair holds significant legislative financial power, including over crypto bills. Previously, it was reported that the U.S. House Financial Services Committee appointed Bryan Steil as the chair of the Digital Assets Subcommittee.
AI
Artela announces token economic model: 62% allocated to the community
The fully on-chain artificial intelligence agent L1 network Artela Network has released its token economic model, aimed at supporting the large-scale application of on-chain AI agents. The ART token, as Artela's native asset, undertakes core functions such as staking, paying gas fees, governance rights, and ecological liquidity, becoming key to network security, governance, and economic operation. The ART token adopts an inflation model, with an initial annual inflation rate of 8%, decreasing by 1% each year until reaching a long-term issuance rate of 0%, ensuring controlled supply growth and supporting long-term value stability. The total supply of ART is 1 billion, with allocations including 62% for the community (4.5% for airdrops, 28.5% for network staking, 23% for ecological development, etc.), 15% for the team, 18% for investors, and 5% for early contributors. The tokens will be gradually released according to a clear unlocking plan to support ecological sustainability. Previously, it was reported that the blockchain infrastructure startup Artela completed a $6 million seed round of financing, led by Shima Capital.
Decentralized streaming platform Theta has released its 2025 roadmap, focusing on launching the EdgeCloud hybrid cloud edge architecture in June 2025 and expanding its rapidly growing edge network in the first half of the year. This version will fully support distributed edge architecture across devices, regions, and configurations, capable of prioritizing and selecting specific job types and analyzing completed jobs. A developer API interface will also be released, providing developers with the tools needed for efficient development on EdgeCloud. Other major features will be launched based on the current needs of EdgeCloud customers, such as persistent storage, GPU node upgrades, and on-demand API access to AI models. These features, along with the beta version of the AI Agents platform, will automatically utilize AI models through on-chain autonomous interactions to enable a wide range of use cases, encouraging adoption in key target areas such as academia, private enterprises, professional sports, and esports. In the second half of the year, the Theta Hackathon will expand into offline events, providing ongoing support for Theta ecosystem projects. Discussions are ongoing with several well-known professional sports and esports teams, hoping that EdgeCloud can assist them in formulating AI strategies and potentially launching sub-chains to support their business use cases. Third-party platforms are also considering integrating TDROP as a user participation token, starting with OpenTheta, with more platforms expected to launch by 2025. Additionally, there is an evaluation underway to possibly rebrand TDROP to extend its utility to AI agents, RAG chatbots, and other consumer-facing AI and video AI applications built on EdgeCloud. Finally, the hybrid edge cloud architecture of EdgeCloud will be fully released in 2025, including intelligent job orchestration and optimization, as well as comprehensive support for Linux, Windows, and Mac.
Tether CEO: Will speak at AI Week in Italy in May to introduce Tether's AI strategy
Tether CEO Paolo Ardoino stated on the X platform: "I will be speaking at the AI Week in Italy in May, introducing the latest developments in Tether's AI strategy, which is fully focused on individual freedom of speech and financial freedom, open source, peer-to-peer technology, and privacy protection. I will reveal the truth, including future scenarios that are often obscured by 'political correctness,' involving artificial intelligence, robotics, brain-computer interfaces, and other disruptive technological developments."
Ethereum co-founder Vitalik Buterin posted on the X platform that the incorrect application of AI could create new forms of independent self-replicating intelligent life. The correct application of AI, however, is akin to building mechanical armor for human thought. If we only achieve the former without the latter, humanity faces the risk of permanently losing power. Conversely, if we achieve the latter, we will usher in a prosperous super-intelligent human civilization. Additionally, regarding the question of "as a design choice, should we create AI agents or enhance human agency," Vitalik stated: "'Agents' is an interesting term. Sometimes it refers to 'AI that can operate autonomously and devise complex plans lasting several days without human intervention,' but more often it simply means 'chatbots replacing graphical user interfaces (GUIs) as the interface for everything.' The latter is great!"
Project Updates
Binance launches AIXBT, CGPT, and COOKIE spot trading pairs
Binance announced that it will launch spot trading pairs for aixbt by Virtuals (AIXBT), ChainGPT (CGPT), and Cookie DAO (COOKIE) at 21:00 Beijing time on January 10, including AIXBT/USDC, AIXBT/USDT, CGPT/USDC, CGPT/USDT, COOKIE/USDC, and COOKIE/USDT. Users can now deposit AIXBT, CGPT, and COOKIE in preparation for trading, with withdrawal services starting at 21:00 on January 11. There are no listing fees for this launch, and the relevant smart contract addresses have been announced. It should be noted that these tokens have previously been listed on Binance Alpha Market.
Grayscale updates asset examination list, covering KAS, APT, TIA, etc.
Grayscale's official website updated its "Asset Examination List" this morning, listing various digital assets that may be launched as investment products in the future, including $KAS, $APT, $ARB, $TIA, $HBAR, $MNT, $SEI, $S, $STRK, $TON, $TRX, $AERO, $BNB, $ENA, $INJ, $JUP, $ONDO, $PENDLE, $RUNE, $DOGE, $IMX, $AKT, $FET, $AR, $EIGEN, $HNT, $JTO, $PYTH, and $WLD. Grayscale also encourages community feedback on any potential assets that may have been overlooked to further refine its investment product layout.
Sui Hydropower Accelerator announces 12 selected teams, including 7k, AdToken, etc.
The Sui Foundation announced on January 8 that 12 teams have completed an eight-week project development in the first Hydropower Accelerator program. These projects cover DeFi, DePIN, and RWA fields, including advertising networks, digital gift platforms, and new tools for liquid staking. Participating teams include: 7k: The second-largest trading aggregator on Sui, providing a smart trading ecosystem. AdToken: A peer-to-peer advertising network that pays based on ad performance. CryptoMate: A stablecoin fintech operating system supporting low-code and AI features. Gifted: A digital gift platform focused on interactive experiences. InsiDeX: A DeFi analysis and trading platform on the Sui chain. Lotus Finance: Decentralized market-making and high-frequency trading infrastructure. Nativerse: A non-custodial liquid staking tool that enhances Bitcoin liquidity. Nemo Protocol: A native yield trading platform on Sui. Pomerene: An international trade DePIN network. Printr: A cross-chain tokenization and fundraising platform. Protocol Media Labs: An innovative news platform supporting independent media. The twelfth team is in stealth mode and has not disclosed information.
Synthetix shuts down Arbitrum perpetual contract market, focusing on Base network
Synthetix announced that its perpetual contract market on Arbitrum has entered a closed mode, where users cannot open new positions or increase existing positions. This move is part of Synthetix's strategic adjustment aimed at consolidating operations and focusing on Coinbase's Base network. As USDx on Arbitrum is gradually phased out, the Synthetix Treasury has begun repurchasing USDx from the market to provide stability and liquidity support. Synthetix has requested liquidity providers on the Arbitrum platform to migrate to Base and will offer additional incentives on Base to facilitate the migration. Existing positions can still be closed or reduced during the Arbitrum retirement period. Additionally, Synthetix plans to integrate ecosystem projects like Kwenta and TLX into a unified native trading platform.
Pump Science has begun airdropping 2.5 million BIO tokens to RIF and URO holders
Pump Science announced on the X platform that it has begun airdropping 2.5 million BIO tokens to RIF and URO holders. The airdrop distribution is based on three snapshot nodes in November, December, and January, with addresses holding all snapshot nodes eligible for a 2.5x airdrop bonus. Additionally, each wallet can receive a maximum of 8,000 BIO.
Binance: BNSOL Super Staking will launch the fifth project - Renzo (REZ)
According to an official announcement from Binance, BNSOL Super Staking will launch the fifth project - Renzo (REZ), a re-staking protocol on Ethereum and Solana chains. From January 13, 2025, 08:00 to February 1, 2025, 07:59 (UTC+8), users holding BNSOL in their Binance accounts and wallets, or staking SOL to BNSOL, will receive REZ APR Boost airdrop rewards. The REZ APR Boost airdrop rewards are additional token airdrops provided on top of the annualized interest rate for Binance SOL staking, offering users higher yields. The REZ APR Boost airdrop rewards will be available for collection starting January 14, 2025, around 13:30 (UTC+8).
Bithumb to list SONIC, SAFE, and AHT in the KRW market
According to an official announcement, South Korean cryptocurrency exchange Bithumb will list SONIC, SAFE, and AHT in the KRW market.
InfiniGods plans to launch native token GOD, with 17% allocated to its NFT holders
According to The Defiant, the crypto game InfiniGods is preparing to launch its native token, GOD. The GOD token will be distributed among the ecosystem's NFT holders, with 4.25% allocated to InfiniPass holders, 3.25% to Elder Gods NFT holders, and 9.5% to God Vault NFT holders. The date for the Token Generation Event (TGE) has not yet been determined; however, InfiniGods' Chief Marketing Officer, Bry DiSanto, hinted that an airdrop is imminent, posting on X, "January, the time is coming." InfiniGods is a mobile game studio founded in 2022, which previously completed a $9 million seed round led by Pantera Capital, with participation from Framework Ventures and Animoca Brands. The company raised another $8 million in April 2024 and completed a $1.3 million strategic round led by Arete Capital in December.
According to Cryptoslate, team members from Coinbase, Google, ai16z, and other major players have launched Aiccelerate, a new decentralized autonomous organization (DAO) aimed at accelerating the integration of cryptocurrency and artificial intelligence (AI). An announcement on January 9 indicated that the DAO will focus on promoting decentralized, open-source AI development and supporting high-potential projects across different ecosystems. Additionally, Aiccelerate positions itself as a DAO that emphasizes both investment and development. Its primary mission is to drive innovation in what it calls the "agent AI" space. The DAO aims to build a collaborative community of top developers across multiple frameworks. These experts will contribute to a range of agents and tools designed to advance the organization's goals. Furthermore, Aiccelerate will unify its initiatives through a token called AICC. The DAO will use a portion of its profits to repurchase its native token. The development advisory board includes ai16z founder Shaw, core contributor to Virtuals Protocol EtherMage, Nader Dabit, head of developer relations at EigenLayer, and Jason Zhao, co-founder of Story Protocol. In terms of investment, Aiccelerate's advisors include Andrew Kang and Marc Weinstein from Mechanism Capital, Justin Lee from Coinbase Ventures, and Anil Lulla from Delphi Digital.
Coinbase International to launch AERO, BEAM, and DRIFT perpetual contracts
Coinbase International announced on the X platform that it will add support for perpetual futures contracts for Aerodrome Finance, Beam, and Drift, with the AERO-PERP, BEAM-PERP, and DRIFT-PERP markets expected to open at or after 17:30 Beijing time on January 16, 2025.
Insights
Matrixport's weekly report indicates that macroeconomic headwinds and changes in global liquidity may lead Bitcoin into a consolidation phase. Although ETF inflows remain steady, the Federal Reserve's hawkish stance may limit further gains. The report suggests that Bitcoin's upward momentum is more influenced by Federal Reserve policy than by ETF launches. Technical analysis shows that the "shooting star" candlestick pattern indicates that the mid-term upward trend may be nearing its end. In a low implied volatility environment, options are seen as an effective risk management tool. Traders can capture upward opportunities through call options or protect profits with put options.
Alliance DAO co-founders disclose their holdings: all in on Bitcoin and AI agents
Qiao Wang and Imran Khan, co-founders of the Web3 accelerator and founder community Alliance DAO, shared their latest personal holdings in a recent video podcast. Qiao Wang stated that he is all in on Bitcoin and AI agents tokens. Imran Khan mentioned that he still holds HYPE (Hyperliquid) and firmly believes it is a strong Beta token.
VanEck executive: Block is expected to become the first company in the S&P 500 to hold Bitcoin
Matthew Sigel, head of digital asset research at VanEck, stated on the X platform that fintech company Block is expected to become the first company in the S&P 500 to hold Bitcoin. A stock must meet six major criteria to be included in the index, including: 1) a market capitalization of over $18 billion; 2) a public float of over 10%; 3) positive earnings for the most recent quarter, and a positive total for the previous four quarters under Generally Accepted Accounting Principles (GAAP); 4) high liquidity; 5) listed for at least 12 months; 6) headquartered in the United States. Block met the last criterion (earnings) after releasing its Q1 2024 financial report. However, inclusion in the S&P 500 index is not strictly formulaic but is at the discretion of the index committee. Historically, companies that meet all requirements have been included within 3 to 21 months (with LULU being an exception, taking 65 months). Industry diversification is one of the factors the index committee considers, as they aim to maintain an industry composition that is broadly consistent with the industry economy. The phrase "consistent with the industry economy" is not clearly defined, so the S&P total market index can be referenced: the financial sector currently accounts for 13.9% of the S&P 500, while it accounts for 14.6% in the broader index, indicating that there is still room for growth in the financial sector.
Important Data
Possibly influenced by Binance's launch, COOKIE, CGPT, and AIXBT briefly surged over 30%
According to GMGN.AI data, possibly influenced by Binance's launch, COOKIE briefly broke through $0.70, rising 46.6% in 24 hours; ChainGPT (CGPT) broke through $0.30, rising 50.8% in 24 hours; and aixbt by Virtuals (AIXBT) broke through $0.54, rising 30% in 24 hours. Previously, it was reported that Binance launched spot trading pairs for AIXBT, CGPT, and COOKIE.
PIPPIN breaks through $0.23, rising over 20 times in a week
According to GMGN.AI market data, the Solana ecosystem AI meme coin pippin (PIPPIN) broke through $0.23, setting a new historical high, rising 216% in 24 hours and 2027.3% in 7 days. Previously, on January 6, it was reported that Binance Alpha added FREYA, pippin, and OPUS.
ai16z's top 7 whales increased their holdings of ai16z by $1.61 million 9 hours ago
According to on-chain analyst @ai_9684xtpa, the top 7 whales of ai16z increased their holdings by $1.61 million 9 hours ago through a secondary account, with an average price of $1.46. Influenced by ai16z founder Shaw's tweet about selling tokens, the price briefly dropped to $1.32 yesterday, and this whale took the opportunity to buy the dip. The newly acquired portion has already gained $33,000, bringing their total holdings to 18.62 million tokens (approximately $27.75 million).
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