PA Daily | The popularity of Little Red Book concept Meme coins is rising; AIOS Foundation announces the destruction of 66.61% of tokens.

Today's News Highlights:

Regulation/Macro

CoinShares lowers Bitcoin ETP management fee to 0.25%

European investment firm CoinShares announced a reduction in the management fee for its flagship product, CoinShares Physical Bitcoin ETP (code: BITC; ISIN: GB00BLD4ZL17), from 0.35% to 0.25%, effective immediately.

Metaplanet: Bitcoin Magazine Japan launched

According to an announcement from Metaplanet, the company has launched a new media platform, Bitcoin Magazine Japan, aimed at guiding one million Japanese people to understand and participate in the Bitcoin ecosystem through high-quality content and community activities. The platform focuses on three main missions: education, inspiration, and action, helping Japan play a key role in the Bitcoin revolution through professional analysis, practical guides, and global community connections. The official emphasized that Bitcoin is not just a digital asset but also an important tool for promoting economic freedom and technological innovation, empowering the Japanese economy.

Italian bank Intesa Sanpaolo purchases 11 BTC, approximately 1 million euros

Italy's largest banking group, Intesa Sanpaolo, has purchased 11 BTC through its proprietary trading department, amounting to approximately 1 million euros.

Japanese listed company Remixpoint purchases 500 million yen worth of Bitcoin again

Japanese listed company Remixpoint has recently added 33.34 BTC, valued at approximately 500 million yen, increasing its Bitcoin holdings to 333.189 BTC, with a total market value of about 4.89 billion yen.

Google searches for "RedNote" in the U.S. surge, TikTok users flock to Pionex

According to Google Trends data, interest in "Xiaohongshu" (translated as "little red book") has significantly increased in the U.S. As the U.S. cracks down on ByteDance, some TikTok users have begun to turn to Pionex, jokingly calling themselves "TikTok refugees" and even jokingly stating they are learning Chinese and planning to "move to China." Pionex users have enthusiastically responded, welcoming American users and even asking them for help with English homework. Data shows that Pionex (RedNote) has now risen to the top of the free app download chart in the U.S. App Store.

Insiders: China considers selling TikTok's U.S. operations to Musk as an option to counter the ban

According to Bloomberg citing insiders, Chinese officials are evaluating a possible plan to sell TikTok's U.S. operations to Elon Musk if TikTok cannot prevent the U.S. ban. While TikTok's parent company ByteDance prefers to appeal to block the ban, indications from the U.S. Supreme Court suggest that the ban may be upheld. The plan envisions Musk's X (formerly Twitter) taking over TikTok's U.S. operations and integrating it with its existing platform. This move could not only leverage TikTok's 170 million U.S. users to increase advertising revenue but also provide rich data support for Musk's AI company xAI. However, the deal would require approval from the Chinese government, especially concerning the transfer of TikTok's core algorithms. Currently, TikTok's U.S. operations are valued between $40 billion and $50 billion, but it is unclear whether Musk has sufficient resources to complete the transaction. ByteDance has stated that its primary goal remains to retain TikTok's operations in the U.S. through legal means. Subsequently, the BBC reported that TikTok responded to the news of the sale to Musk, calling it "purely fictional."

U.S. court requires SEC to explain reasons for refusing to establish crypto rules

According to CoinDesk, the U.S. Third Circuit Court of Appeals has ruled that the U.S. Securities and Exchange Commission (SEC) must provide a comprehensive explanation for its decision to refuse to establish clear rules for the cryptocurrency industry. This ruling partially supports Coinbase's request, stating that the SEC's stance on crypto assets is "arbitrary and capricious." This ruling comes in the last week of SEC Chairman Gary Gensler's term and may provide an opportunity for the incoming Republican chairman, Paul Atkins, to adjust the direction of cryptocurrency regulation. The court emphasized that the SEC needs to clarify its position rather than continue to evade the issue of rule-making, especially in the context of the agency's controversial enforcement-focused crypto regulatory policy in recent years. Previously, the SEC had faced legal defeats in the Grayscale Bitcoin spot ETF application case and related cases involving Coinbase. The court found the SEC's reasons for refusal to be "conclusory and lacking sufficient basis," warning it not to provide "poor explanations" again. Coinbase's Chief Legal Officer Paul Grewal expressed gratitude for the court's prudent ruling.

Trump team studies gradual tariff increases of 2%-5% per month

According to foreign media citing insiders, Trump's economic team is discussing a gradual monthly increase in tariff rates. The gradual increase in tariffs aims to enhance negotiation leverage while helping to avoid soaring inflation. Insiders say one proposal is to establish a schedule for increasing tariffs by about 2% to 5% each month, following the executive powers under the U.S. Emergency Economic Powers Act. This proposal is still in its early stages and has not yet been submitted to Trump, who has not evaluated or approved the gradual tariff concept. Advisors involved in the plan include Treasury Secretary nominee Scott Bessent, National Economic Council Director nominee Kevin Hassett, and National Economic Advisory Council Chair nominee Stephen Moore.

U.S. Supreme Court rejects Binance and founder CZ's appeal regarding the applicability of securities laws

According to The Block, the U.S. Supreme Court has rejected the appeal from cryptocurrency exchange Binance and its founder Changpeng Zhao (CZ) regarding the review of lower court rulings. Previously, the Second Circuit Court of Appeals ruled that despite Binance not having a physical headquarters, U.S. securities laws still apply to the exchange. The case stems from the U.S. Securities and Exchange Commission (SEC) accusing Binance of illegally providing services to U.S. users since 2023. At the end of 2023, Binance pleaded guilty to multiple criminal charges and paid a $4.3 billion fine. In the appeal, Binance argued that the case has global implications and involves the regulatory applicability of the digital asset industry, but the court upheld the original ruling on the grounds that the transactions occurred on U.S. servers.

Robinhood fined $45 million by the SEC for multiple securities violations

According to an announcement from the U.S. Securities and Exchange Commission (SEC), Robinhood Securities LLC and Robinhood Financial LLC have agreed to pay a total of $45 million in civil penalties for violating over 10 provisions of securities laws. Violations include failing to timely submit suspicious activity reports, not implementing adequate identity theft protection measures, not addressing known cybersecurity vulnerabilities, and failing to properly maintain customer communication records. Additionally, Robinhood Securities was separately charged for not providing complete securities trading data and not complying with Reg SHO rules. These issues occurred between 2019 and 2023. The SEC stated that both companies have acknowledged some of the investigation's findings and agreed to accept the penalties.

Financing

Cross-chain infrastructure SYNTHR completes $10 million financing, with participation from NGC Ventures and others

Cross-chain infrastructure SYNTHR announced that it has completed five rounds of financing, raising a total of $10 million, with participation from Kronos, NGC Ventures, Morningstar Ventures, and others. Additionally, the project has received support from 11 grants.

Crypto bank Sygnum completes $58 million strategic financing, valuation surpasses $1 billion

Swiss and Singapore-based crypto bank Sygnum announced the completion of $58 million in strategic financing, with a valuation exceeding $1 billion, officially entering the unicorn club. The financing was led by Fulgur Ventures, which focuses on Bitcoin technology, with participation from both new and existing investors, as well as team members. The funds will be used to expand the product portfolio (focusing on Bitcoin technology), enhance compliance capabilities, expand institutional infrastructure, and explore strategic acquisition opportunities. Sygnum plans to strengthen its European operations and establish a regulated entity in Hong Kong. The bank currently manages over $5 billion in assets, serving more than 2,000 clients from 70 countries. In 2024, Sygnum achieved profitability for the full year, with total transaction volume increasing by over 100% year-on-year.

Databricks raises $5 billion to accelerate AI product development and international expansion

According to Bloomberg, San Francisco-based data analytics and AI company Databricks has raised $5 billion through private lenders and banks, including $2.25 billion in term loans and $2.5 billion in revolving credit. The funds will be used for AI product development, international expansion, and employee stock buybacks. The company expects to exceed $3 billion in revenue for the fiscal year 2025 and achieve positive cash flow in the fourth quarter.

Crypto venture capital reaches $4 billion in Q4 2024, with infrastructure projects leading the way

According to The Block, total venture capital investment in the crypto industry reached $4 billion in Q4 2024, involving 687 transactions, marking the highest quarterly investment amount in two years. Infrastructure projects attracted $4 billion, dominating capital inflows, followed by financial services at $970 million. Web3 projects had the most transactions, totaling 141, with NFT and gaming projects following closely behind at 132 transactions. Notably, decentralized finance (DeFi) projects remained stable, completing 125 transactions. Although the number of transactions for infrastructure projects (111) was lower, they attracted the most capital. Additionally, investments in data analytics (10 transactions) and enterprise solutions (18 transactions) were relatively cautious. A highlight was the launch of the angel co-investment platform Echo.xyz by Cobie, which participated in at least 9 rounds of financing, including helping MegaETH raise $10 million in 3 minutes. This model allows key opinion leaders (KOLs) to create investment syndicates, attracting followers to co-invest, bringing more democratization opportunities to early crypto investments.

Project Updates

Sony's L2 project Soneium faces community backlash for blacklisting certain Meme coins

According to The Block, Sony's Layer 2 project Soneium faced community backlash after blacklisting some Meme coins suspected of infringing intellectual property on the day of its mainnet launch. This led to restrictions on certain tokens, preventing trading and support on the official block explorer. This move sparked strong dissatisfaction among some users, who expressed their disappointment at suddenly being unable to trade or access these Meme coins on the Soneium network in multiple posts on the X platform. The blacklist specifically targeted tokens that mimic or use brands that Sony or Soneium consider protected. As a result, trading of these Meme coins has reportedly been halted and cannot be transferred. Users attempting to access these tokens receive a "forbidden access" warning on the block explorer. The situation escalated further when Alon, the anonymous founder of pump.fun, made critical comments, accusing the platform of "actively blacklisting the meme coins they dislike, instantly wiping out everyone's holdings." Kawz, the founder of Time.fun, also claimed that the blacklist affected user funds, accusing the platform of freezing contracts. Kawz stated, "Soneium caused users' Ethereum assets to lose over $100,000 on the first day of launch; I've never seen anything like this," adding that two tokens have already been frozen. Others questioned the extent of control that blockchain developers should exercise and the balance between protecting intellectual property and maintaining an unlicensed network.

Interest in Pionex concept Meme coins rises, with momo's market cap currently reported at $7.29 million

According to @ai_9684xtpa's monitoring, as TikTok users flock to Pionex, related concept Meme coins have gained market attention. The main Pionex concept Meme coins currently on the market include: $momo: with a market cap of $7.29 million, inspired by the default account name on Pionex, symbolizing the platform's privacy and mutual trust culture, with supporters referred to as the "Momo Army." $Captain Sweet Potato: with a market cap of $330,000, named after Pionex's official account "Captain Sweet Potato," whose sweet potato image has 7.436 million followers on the platform, known as the "top influencer on Pionex." $REDnote: with a market cap of $940,000, derived from the nickname for Pionex among TikTok's overseas users, with related variant Memes also being quite popular. *Note: Meme coins are highly volatile; please pay attention to fund safety, NFA.

Bithumb launches A8 and DRIFT KRW trading pairs

According to Bithumb's announcement, the exchange has added support for trading pairs in Korean won for Ancient8 (A8) and Drift (DRIFT). A8 is based on the Ethereum network; DRIFT is based on the Solana network. The deposit/withdrawal for both tokens will open within 2 hours of the announcement, and trading will start at 5 PM (KST) on January 14.

AIOS Foundation announces destruction of 66.61% of tokens, AIOS surges 150% temporarily

According to the AIOS Foundation's announcement, it will destroy 66.61% of the total supply of tokens held by the foundation within 24 hours (64.03% and 2.58% respectively). In the future, as the AIOS Chain mainnet goes live, circulating AIOS on Solana can choose to migrate to AIOSChain. At the same time, AIOSChain will mint native tokens in proportion to the amount destroyed and permanently lock them for staking, supporting decentralized development of the ecosystem. The news drove AIOS to surge over 150% temporarily, with a current market cap of approximately $170 million.

Sony's Layer-2 blockchain "Soneium" goes live on mainnet

Sony announced the launch of its Layer-2 blockchain platform "Soneium." The platform was developed in collaboration with Singapore's Startale Labs, based on Ethereum's Optimism OP Stack technology, aimed at supporting a diverse application ecosystem in gaming, finance, and entertainment. "Soneium" underwent four months of testing, attracting 14 million wallets, and is dedicated to connecting Web2 and Web3 users, providing creators and communities with a more convenient blockchain interaction experience. Additionally, Sony launched two key projects: • Fan Marketing Platform: provided by SNFT Inc., rewards fans through NFTs and optimizes marketing strategies, helping brands and businesses unlock data value. • S.BLOX: a crypto asset trading service provided by S.BLOX Inc., promoting innovation and brand empowerment within the Soneium ecosystem.

Coinbase to list Peanut the Squirrel (PNUT) token

According to Coinbase's official announcement, it will support the Peanut the Squirrel (PNUT) token on the Solana network (SPL). Trading for the PNUT token will begin at 1 AM (Beijing time) on January 15, 2025, or later, depending on liquidity conditions. Once supply is sufficient, the PNUT-USD trading pair will be launched in phases. Note: PNUT only supports transfers on the Solana network; transfers on other networks may result in loss of funds, and support for PNUT may be limited in some jurisdictions.

Opinions

Base protocol leader: Supporting Chinese developers is one of my top priorities for 2025

Jesse Pollak, the leader of the Base protocol, tweeted in Chinese, stating, "After posting that Base belongs to everyone, I received many contacts from Chinese developers and am proud to build together with them. He emphasized that supporting Chinese developers is one of his top priorities for 2025 and invited everyone to recommend noteworthy Chinese developers."

Star: Crypto and AI will be the two best industries for global business technology development in the next decade

On January 14, 2025, the "OKX New Year's Eve Dinner" event officially opened in Da Nang, Vietnam. OKX CEO Star attended the event via video link and delivered an impromptu speech. Star stated that the crypto industry is a cycle-driven, innovative, and vibrant sector that enjoys global regulatory support. Crypto and AI will become the two best industries for global business technology development in the next decade. It is reported that the "OKX New Year's Eve Dinner" is a special event for industry builders hosted by OKX in Da Nang, Vietnam. The event focuses on core topics such as OKX's latest product planning, industry hot topic analysis, and experience sharing, aiming to provide a platform for in-depth communication and idea exchange for global cryptocurrency enthusiasts to welcome the new year together.

Foreign media: Trump expected to issue an executive order to abolish controversial cryptocurrency accounting policy

According to The Washington Post, Trump is expected to issue an executive order on the first day of his presidential term, addressing de-banking and abolishing the controversial cryptocurrency accounting policy, which requires banks holding digital assets to treat them as liabilities.

Important Data

Bitcoin spot ETF saw a net outflow of $284 million yesterday, with a net asset ratio of 5.67%

According to SoSoValue data, the total net outflow from Bitcoin spot ETFs yesterday was $284 million. Among them, Grayscale ETF GBTC had a net outflow of $89.084 million, with a cumulative historical net outflow of $21.656 billion; Grayscale Bitcoin Mini Trust ETF BTC had no net outflow, with a historical cumulative net inflow of $924 million. BlackRock ETF IBIT had a net inflow of $29.4646 million in a single day, with a historical cumulative net inflow of $37.696 billion. As of now, the total net asset value of Bitcoin spot ETFs is $105.046 billion, accounting for 5.67% of Bitcoin's total market value, with a cumulative historical net inflow of $35.932 billion.

FTX/Alameda redeems and transfers SOL again, with a total transfer exceeding 4.44 million

According to on-chain data monitored by Yu Jin, FTX/Alameda completed its monthly SOL redemption operation three hours ago, redeeming 182,421 SOL (approximately $32.35 million) from staking and distributing it to 20 addresses. Since last November, this staking address has cumulatively redeemed and transferred out 4.445 million SOL (approximately $516.88 million), with an average transfer price of $116.2 per SOL. Currently, FTX/Alameda's staking address still has 6.47 million SOL (approximately $118 million) staked.

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