24H Hot Coins and News | Story releases token economics; reporters disclose multiple internal SEC-related confidential documents (February 8)

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3 months ago

24H Hot Coins and News | Story Releases Token Economics; Reporter Discloses Multiple SEC-Related Internal Confidential Documents (February 8)

  1. CEX Hot Coins

CEX Trading Volume Top 10 and 24-Hour Price Change:

  • BTC: -0.42%

  • ETH: -2.93%

  • XRP: +2.65%

  • SOL: +1.72%

  • DOGE: -1.30%

  • SUI: -5.76%

  • TRUMP: -2.83%

  • PEPE: -3.91%

  • BERA: -6.36%

  • ENA: +4.29%

24H Price Increase Ranking (Data Source: OKX):

  • SWFTC: +25.21%

  • UXLINK: +19.07%

  • LAT: +16.83%

  • FLR: +14.03%

  • CTXC: +11.06%

  • XNO: +10.98%

  • ATH: +10.55%

  • DUCK: +9.91%

  • PENDLE: +8.53%

  • GOAL: +8.49%

  1. On-Chain Hot Meme Top 5 (Data Source: GMGN):
  • TYGA

  • YE

  • BIGBALLS

  • GSAI

  • 69MINUTES

  1. 24H Hot Search Coins

BERA: The official token of the leading parallel EVM project Berachain, recently listed on several top exchanges including Coinbase and Upbit, but has since dropped below $7, with a slight recovery currently.

ONDO: The official token of Ondo Finance, which recently launched the Layer 1 blockchain Ondo Chain aimed at institutional finance. Meanwhile, the Trump family's WLFI continues to buy this token.

Headlines

Story Releases IP Token Economics, Community Allocation Accounts for 58.4%

Layer1 intellectual property blockchain Story has released its IP token economic model: the total supply of IP is 1 billion tokens, with an initial unlock of 25%. Of this, 58.4% will be allocated to the community, including the ecosystem and community, foundation, and initial incentives. The IP token will be used for staking, paying gas fees, and governance. The specific allocation plan is as follows:

Ecosystem and Community: 38.4%
Initial Incentives: 10%
Foundation: 10%
Early Investors: 21.6%
Early Contributors: 20%
Regarding the staking mechanism, IP will adopt a fair launch principle. Within 42 days after the genesis block on 1/19 (the singularity period), users can participate in staking or delegated staking, but no staking rewards will be generated during this period. After the singularity period ends, all participants will begin to receive staking rewards.

Bloomberg: Multiple SEC-Related Internal Confidential Documents Disclosed by Reporter

According to Bloomberg, former investigative journalist Jason Leopold has released a series of internal documents obtained from the U.S. Securities and Exchange Commission (SEC) under the Freedom of Information Act (FOIA) over the past six months, including:

- Email communications of SEC Chairman Gary Gensler;
- Several confidential letters sent by Tesla's legal team regarding the SEC's ongoing enforcement actions against Elon Musk;
- Investigation report on the hacking incident of the SEC's official X account;
- Related investigation documents on the Deepfake images appearing on the X platform and their market impact;
- Multiple inspector general reports.
Leopold stated that obtaining these documents involved a lengthy process, including regular follow-ups on the application status, negotiations with the agency, and narrowing the scope of the request, with some content still redacted. These documents will provide the public with important reference information on the internal operations of the SEC.

Polymarket Predicts Probability of Spot Solana ETF Approval Drops to 35% Before July 31 This Year

Polymarket predicts that the likelihood of the U.S. SEC approving the spot Solana ETF application before July 31, 2025, has dropped to 35%. This figure has decreased by 41% from the peak probability of 76% on December 8 of last year.

Industry News

Potential Candidates for Trump's Digital Asset Market Working Group Include Coinbase, Circle CEOs and Other Industry Executives

The potential candidates for Trump's Digital Asset Market Working Group have been revealed, including industry executives such as former Kraken General Counsel Marco Santori, Ripple co-founder Brad Garlinghouse, podcast host Frank Chaparro, Circle CEO Jeremy Allaire, Coinbase CEO Brian Armstrong, and Crypto.com CEO Kris Marszalek.

This list does not include all personnel, and it is reported that potential candidates for the advisory committee are selected based on industry experience.
President Trump recently issued an executive order to establish the Digital Asset Market Working Group, which has been widely welcomed by the crypto industry, viewing it as a significant shift in the U.S. government's stance on digital currencies.

Trump Plans to Announce Retaliatory Tariff Policy as Early as This Friday

According to Reuters, President Trump has informed Republican lawmakers that he plans to announce retaliatory tariff policies as early as Friday. In previous campaign events, Trump promised to impose retaliatory tariffs on U.S. imports equal to the rates that trading partners impose on U.S. exports. The White House has not yet responded to requests for comment.

U.S. January Unemployment Rate Unexpectedly Drops to New Low Since Last May

The U.S. unemployment rate for January recorded at 4.0%, the lowest since last May, with market expectations unchanged at 4.1%.

U.S. House Bipartisan Resolution Calls for Clear Cryptocurrency and Blockchain Regulations

Bipartisan members of the U.S. House of Representatives have introduced a resolution supporting blockchain technology and digital assets. Dusty Johnson, Chairman of the House Agriculture Committee's Commodity Markets, Digital Assets, and Rural Development Subcommittee, along with Ranking Member Don Davis, Bryan Steil, Chairman of the House Financial Services Committee's Digital Assets, Financial Technology, and Artificial Intelligence Subcommittee, and Ranking Member Ritchie Torres announced the proposal.

The resolution emphasizes the economic potential of digital assets, the necessity for regulatory clarity, and the role of blockchain in enhancing transparency and efficiency. It also warns that without clear regulations, the U.S. may lose its innovative edge and shift to countries with clearer legal frameworks. Following the resolution's introduction, lawmakers issued statements emphasizing the urgency of regulatory action. Johnson stated, "Currently, developers face uncertainty due to gaps in the commodity and securities regulatory framework." He elaborated, "Digital assets need a regulatory framework to thrive in the U.S. I look forward to working with Congressman Steil to clarify digital assets."
Steil agreed, stating, "Digital assets have enormous untapped potential. I am pleased to formally recognize with Congressman Johnson that Congress needs to take meaningful action to establish a regulatory environment that fosters innovation, protects consumers from fraud, and encourages the development of U.S. digital asset technology."
Additionally, Davis emphasized the transformative power of blockchain, saying, "Blockchain technology and digital assets will change industries, enhance our financial system, and provide equitable financial service opportunities for everyone." Torres also emphasized, "Blockchain technology and digital assets represent the future of innovation, economic growth, and financial inclusion."

JPMorgan Survey: Nearly 30% of Respondent Institutions Plan or Have Traded Cryptocurrencies

A recent survey conducted by JPMorgan targeting institutional traders shows that over 70% of respondents do not plan to trade cryptocurrencies this year, a slight decrease from 78% in 2024.

However, the number of traders interested in cryptocurrencies has increased, with 16% of respondents planning to trade digital assets, and 13% already active in the field.
All respondents in the survey indicated plans to increase online or electronic trading activities, especially in less liquid assets. This shift in focus occurred after significant changes in U.S. financial institutions, in a context where the regulatory environment for digital currencies has become more favorable.
While institutional interest in cryptocurrencies remains low, inflation and tariffs are expected to be major concerns for the market in 2025, followed by escalating geopolitical tensions. Market volatility is considered the biggest challenge faced by traders, with concerns significantly increasing compared to the previous year. In addition to trading trends, there are signs that the U.S. government is softening its stance on cryptocurrencies.

Investment and Financing

Solana Re-Staking Protocol Fragmetric Completes $7 Million Seed Round Financing, Co-Led by Finality Capital Partners and Hashed

According to an official announcement from Fragmetric on the X platform, it has completed a $7 million seed round financing, co-led by Finality Capital Partners and Hashed, with participation from Hypersphere, Presto Labs, Bitscale Capital, Halo Capital, and Flowdesk, and support from several angel investors in the Solana and Restaking ecosystems.

Fragmetric is dedicated to building the first Liquid Restaking site in the Solana ecosystem, focusing on NCN (Node Consensus Network) reward distribution and LST (Liquid Staking Tokens) management, aiming to optimize capital efficiency and enhance Solana's security and decentralization capabilities. Since its launch in October 2024, the protocol has attracted over 25,000 independent addresses holding assets such as fragSOL and fragJTO. With the launch of TipRouter, liquid restaking yields will be automatically reinvested, further enhancing the yields of fragSOL and fragJTO. Additionally, Fragmetric plans to integrate more DeFi protocols in the future and collaborate with NCN projects such as Jito Staking and the upcoming Squads Protocol, Switchboard, Sonic SVM, and Ping Network to promote the expansion of the Solana ecosystem.

Prodigy.Fi Completes $5 Million Seed Round Financing, Receives Funding from Berachain Foundation

The decentralized yield and on-chain dual investment trading platform Prodigy.Fi announced on the X platform that it has completed a $5 million seed round financing, led by Quantstamp and Republic, with participation from Arbelosxyz, PANONY Group, RSK Capital, and Samara Alpha. This round of financing will be used to promote its DeFi yield mining and trading product development on Berachain.

In addition, ProdigyFi has also received RFB funding from the Berachain Foundation and plans to allocate 10%-15% of BERA to testnet users as rewards.

SoftBank Commits Up to $40 Billion Investment in OpenAI, with Rights to Select Other Investors

Insiders reveal that SoftBank CEO Masayoshi Son and OpenAI CEO Sam Altman are negotiating a deal that is unprecedented in scale and structure, with discussions taking place in two phases. First, SoftBank will conduct an exclusive financing round, committing to invest up to $40 billion in OpenAI. SoftBank is not expected to provide all the funds alone and has the right to invite other partners to participate in this round of financing. A person directly familiar with the plan stated that OpenAI can approve or veto new investors. This round of financing is expected to value OpenAI at $260 billion.

In the second phase, SoftBank plans to initially invest about $15 billion to $20 billion in Stargate. OpenAI has agreed that regardless of how much SoftBank invests in the infrastructure project, the amount will be matched.
According to three insiders, partners including the Abu Dhabi sovereign fund MGX and Stargate equity investors intend to make further investment decisions after seeing project progress.
OpenAI and SoftBank declined to comment.

Blockchain Game Infrastructure Company TCG Completes $10 Million Financing, with Participation from Telcoin, BullPerks, and Others

Dubai-based blockchain cloud gaming infrastructure company The Game Company (TCG) has completed a $10 million equity and token financing round, with participation from Telcoin and its CEO Paul Neuner, BullPerks, NodeMarket, HyperCycle, and Singularity DAO.

The company stated that it has built a platform over the past two years that allows any game to be played on any device globally via PC or console, using its proprietary ultra-low latency cloud technology to deliver high-performance gaming. The Game Company has piloted this system with several early adopters. In September 2024, TGC announced a strategic partnership with Aethir, a GPU-based decentralized computing infrastructure provider. Subsequently, it joined the startup programs of Google and Microsoft.
The company stated that its goal is to deploy its native token and publicly release products later this year. The new funding will be used to enhance the platform and integrate Web3 and Web2 ecosystems.
TGC raised $5 million in April 2023, with a post-money valuation of $40 million, and also raised $7.5 million through token sales.

Voices from the Industry

Messari: Hyperliquid Trading Volume Has Increased Over Fourfold Since Last October

A report from Messari shows that Hyperliquid's monthly trading volume has increased over fourfold since October 2024, indicating the platform's rapid rise in the decentralized trading market. Hyperliquid has cultivated a group of high-value, consistently active trading users, becoming the only Layer 1 alternative with a clear core user base in the market. Its growth drivers include the introduction of new assets like BTC in the spot market, expanding the trading ecosystem and competing with CEX; HyperEVM supporting more third-party DeFi applications, enhancing on-chain ecosystem diversity; and the Assistance Fund (AF) reinvesting trading revenue into HYPE tokens, achieving structural value accumulation, a mechanism relatively rare in most DeFi protocols. As the platform further optimizes its on-chain order book and attracts more users, its influence in the decentralized trading market is expected to continue to rise.

Tether CEO: Focused on Ground Deployment, Aiming to Help Billions Access Financial Services, Has Bought Back Hundreds of Billions in Treasury Bonds

Tether CEO Paolo Ardoino stated on the X platform that when asked at the Salvador PlanB forum whether he was concerned about competitors, he expressed no worries. He emphasized that Tether has been building the world's most extensive digital and physical distribution network over the past decade, covering hundreds of thousands of partners, payment terminals in developing countries, digital platforms for tens of millions of users, and a robust technological foundation. In contrast to some competitors relying on investment financing and incentivizing banks to hold stablecoins to boost market value, Tether focuses on ground deployment, enabling 400 million emerging market users to access the global financial system through USDT. He pointed out that billions of people are still excluded from the traditional banking system, and Tether's mission is to help them access financial services. Additionally, Ardoino emphasized that while supporting the global economy, Tether is also buying back hundreds of billions of U.S. Treasury bonds, further solidifying the dollar's position as the world's primary fiat currency. He stated that it is this scale and strategy that allows USDT to maintain a leading position in the stablecoin market.

Brazilian Central Bank President: 90% of Cryptocurrency Usage in Brazil is Linked to Stablecoins

Brazilian Central Bank President Gabriel Galipolo stated that stablecoins dominate cryptocurrency trading in Brazil. Galipolo mentioned at an event of the Bank for International Settlements in Mexico City that the use of digital assets in Brazil has surged over the past three years. He stated that 90% of cryptocurrency usage in the country can be linked to stablecoins. Galipolo highlighted the regulatory and supervisory challenges posed by the widespread use of stablecoins in the payment sector, particularly concerning taxation and money laundering.

Coinbase CEO: The Platform Holds Approximately $0.42 Trillion in Assets for Customers, Ranking as the 21st "Bank" in the U.S. by Total Assets

Coinbase CEO Brian Armstrong stated on X, "If you consider Coinbase as a bank, we currently hold approximately $0.42 trillion in assets for our customers, which would make us the 21st bank in the U.S. by total assets, and we are still growing.

If you consider us as a brokerage, then by AUM, we would now be the eighth-largest brokerage.
If you consider us as a payment company… honestly, I'm not sure what our ranking would be on that list. There are various ways to measure, but last year, the total stablecoin payments were about $30 trillion (though not all of it was for goods and services).
The key point is that the boundaries between these categories are becoming blurred for cryptocurrencies. In the traditional financial system, there are many legacy reasons that separate them, but not all reasons are good ones. Why does the money you spend depreciate instead of appreciating like an investment? Why can't your checking account earn interest like a savings account (or better yet, like short-term Treasury bonds)? Many people use Coinbase for investing, but also for spending, obtaining loans, and more.
In the updated financial system, you will have a single primary financial account that can provide all these functions. Over time, a larger percentage of global GDP will operate on a more efficient crypto track. We will have sound money, lower transaction friction, and greater economic freedom."

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