Evening News | Binance is forming a crypto alliance; US SEC rumored to cancel retail crypto staking services
AC claims that Fantom will not venture into AI; Gifto founder passes away due to sudden illness.整理：润升，ChainCatcher
"What Important Events Happened in the Last 24 Hours"
1. Coinbase Co-founder: Hopes the Rumor of 'U.S. SEC Cancelling Retail Crypto Staking Services' Is Not True
Coinbase co-founder Brian Armstrong tweeted, "I heard rumors that the U.S. Securities and Exchange Commission wants to cancel retail customers' cryptocurrency staking in the U.S. I hope this is not the case because I think allowing this to happen would be a terrible path for the U.S."
Brian Armstrong stated that staking is a very important innovation in the crypto space. We need to ensure that new technologies are encouraged to develop in the U.S. rather than being stifled by a lack of clear rules. Enforcement regulation does not work; it encourages businesses to operate offshore, as was the case with FTX. (Source link)
2. Andre Cronje: Fantom Will Not Venture into AI; Blockchain and AI Cannot Combine
Fantom founder Andre Cronje responded on Twitter that Fantom will not venture into AI, as blockchain and AI cannot combine.
In response to the question, "What role does the Fantom blockchain play in the AI industry?" he answered, "Blockchain = slow (by centralized standards) but transparent and secure, AI = high throughput, opaque, black box. These two things cannot be mixed. It's like asking, 'What role do you think Coca-Cola plays in the construction industry?' Blockchain and AI are not complementary. Currently, anyone who wants to ride the 'AI' wave is doing so. If you see a project suddenly 'turning to AI,' it just means they might be 'dying fast'… Blockchain will not improve AI, and AI will not improve blockchain." (Source link)
3. Paxos: U.S. OCC Has Not Requested Withdrawal of Bank License Application, and Application Has Not Been Denied
Stablecoin issuer Paxos stated on Twitter, "Paxos has not been asked to withdraw its application for a national trust bank license from the Office of the Comptroller of the Currency (OCC) in the U.S., nor has it been denied that license. Paxos continues to engage in constructive cooperation with the OCC."
Earlier today, sources indicated that the Federal Reserve and OCC are conducting a large-scale de-banking operation in the cryptocurrency sector, and Paxos and other blockchain companies were informed by the OCC to withdraw their bank license applications. (Source link)
4. Sources: Binance Is Forming a Crypto Alliance, Many Crypto Companies Have Signed Up
According to CoinDesk, insiders revealed that Binance is forming a consortium of crypto companies to rebuild trust in the industry and play a positive role in upcoming regulations.
The insider stated that many crypto companies have signed up, including projects, exchanges, and blockchain analytics firms, but did not disclose any names; the organization will not be operated by Binance but will "operate in as decentralized a manner as possible across many different projects to ensure alignment with the community."
The insider added that the initial goal of the organization is to collaborate with global regulators and demonstrate the industry's advancements in combating criminals. "Establishing this organization is also to ensure there is a mechanism to point out shortcomings and misconduct in the industry and help avoid broader contagion." (Source link)
5. Gifto Founder Andy Tian Passed Away on February 6 Due to Sudden Illness
Andy Tian, CEO and co-founder of Asia Innovation Group (AIG), passed away on February 6 due to sudden illness at the age of 47. It is reported that Andy Tian is also the founder of the Web3 virtual gift platform Gifto, which swapped its native token GTO for GFT in January this year, with GFT officially starting trading on Binance today at 16:00. (Source link)
6. Federal Reserve Research Report: Bitcoin Has Similar Value Storage Characteristics to Gold, Not Affected by Macroeconomic News
The Federal Reserve released a new research report on Bitcoin titled "The Bitcoin--Macro Disconnect," which is 31 pages long. The report states, "Bitcoin possesses most of the characteristics of a value store like gold, unaffected by monetary and macroeconomic news."
The report summarizes, "We model Bitcoin as an asset with no intrinsic value, whose price depends on the discounted value of its future price. We find that Bitcoin does not respond to monetary and macroeconomic news. The lack of response to monetary news is puzzling, as it raises questions about the role of the discount rate in Bitcoin pricing. However, given the short sample used in the analysis, more evidence is needed to assess the disconnect between Bitcoin and macroeconomic fundamentals." (Source link)
7. Bitcoin Network NFT Protocol Ordinals Has Caused the Most Severe Memory Pool Congestion Since the Bankruptcies of FTX and 3AC
Data from Dune Analytics shows that the Bitcoin-based NFT protocol Ordinals has seen a continuous rise in spending on Inscriptions since its launch. As of February 7, the Ordinals protocol accounted for 12% of the total transaction fees on the Bitcoin network and 0.3% of block rewards, and it continues to grow exponentially, causing the most severe Bitcoin memory pool congestion since the bankruptcies of FTX and 3AC. (Source link)
"What Are Some Great Articles Worth Reading in the Last 24 Hours"
1. "The Crypto Market May Face a 'Deadly' U.S. Regulation; Are There Signs to Follow?"
The Biden administration is quietly attempting to ban cryptocurrencies. What started as a trickle has turned into a flood: the U.S. government is orchestrating a complex and widespread crackdown on the crypto industry through banking organizations. The breadth of this plan nearly covers every financial regulatory agency, and its highly coordinated nature has even caused the most steadfast crypto veterans to worry that crypto businesses may ultimately be completely disconnected from bank accounts, stablecoins may struggle to manage the inflow and outflow of crypto assets, and exchanges may be completely shut out of the banking system. This article tracks significant recent events related to banks and policymakers, reviewing the developments in crypto regulation.
2. "Grayscale: How Should Ethereum Be Valued?"
Smart contract platforms (SCPs) like Ethereum (ETH) are often referred to as decentralized computers, while payment-type crypto assets like Bitcoin are simpler decentralized ledgers. This article attempts to analyze the unique characteristics of smart contract platforms, discuss how their native tokens differ from traditional payment crypto assets like Bitcoin, and propose a valuation framework by examining supply and demand factors. The author believes that the supply and demand dynamics of smart contract platforms are driven by a range of factors, and understanding these factors and how they interact is crucial for investors looking to assess the investment potential of different platforms.
Recently, StarkWare held a two-day event called StarkWare Sessions 2023 in Tel Aviv, Israel. At the event, members of the StarkWare official team, Ethereum Foundation researchers, and community project team members focused on discussions about StarkNet governance and decentralization progress, StarkNet DeFi, Layer 3, and other hot topics. This article is an interview with Eli Ben-Sasson, co-founder and president of StarkWare, in which he discusses StarkNet's competitive advantages, degree of decentralization, future vision, and wallet optimization details.
