Evening News | US CFTC sues Binance and Changpeng Zhao; Bitdeer and Blue Safari to go public on Nasdaq after merger
Galaxy Digital disclosed a net loss of $1 billion in 2022; the U.S. SEC filed a 50-page charge document against Justin Sun and his companies.整理：饼干，ChainCatcher
"What Important Events Happened in the Last 24 Hours"
1. CFTC Sues Binance and Its CEO for Violating Laws Seeking Civil Monetary Penalties and Other Equitable Relief
According to the lawsuit filed by the Commodity Futures Trading Commission (CFTC), Binance and its CEO Changpeng Zhao violated CFTC regulations, including the Commodity Exchange Act, by soliciting and accepting orders from U.S. customers for commodity futures trading, options, swaps, and leveraged retail commodity trading without any registration, and without conducting any compliance registration.
Changpeng Zhao published an article responding that multiple allegations from the CFTC are unfounded. Additionally, Binance responded to inquiries from three U.S. senators, stating that the contents of the letter are inaccurate and incomplete, and that Binance.US is not a subsidiary of Binance.
2. Bitdeer and Blue Safari Merger Officially Effective, Set to List on Nasdaq with a Valuation of $1.18 Billion
The U.S. SEC has announced the effectiveness of the F-4 registration statement for Bitdeer, a mining company owned by Jihan Wu, which is related to the previously announced merger with Blue Safari. The merged company, BTG, will become a publicly traded company on Nasdaq, with an estimated valuation of approximately $1.18 billion, trading under the ticker "BTDR." Notably, the valuation at the time of the merger announcement in 2021 was $4 billion.
Additionally, Bitdeer will hold a special shareholders' meeting on April 11 to approve the business merger and other matters. (PR Newswire)
3. Galaxy Digital Reports a Net Loss of $1 Billion in 2022
Cryptocurrency financial services company Galaxy Digital reported a net loss of $1 billion in 2022, compared to a profit of $1.7 billion in 2021. It also reported a loss of $288 million in the fourth quarter. The company attributed the losses to the unrealized market value of its portfolio.
It is reported that Galaxy Digital disclosed last quarter that it faced a $76.8 million risk exposure due to the failed FTX, and its mining business incurred a net loss due to increased expenses, even though mining is typically profitable. (Source Link)
4. ConsenSys zkEVM Renamed to Linea, Fully Open for Testing Network
ConsenSys officially announced that ConsenSys zkEVM has been renamed to Linea and has natively integrated tools such as MetaMask and Truffle. Currently, Linea is open for testing to all developers, users, or protocols.
It is reported that Linea combines the power of zero-knowledge proofs with Ethereum Virtual Machine (EVM) equivalence, enabling builders to scale new or existing dapps, aiming to provide developers with flexibility and scalability. (Source Link)
5. Starknet Plans to Launch Alpha v0.11.0 Version on Mainnet This Week
Ethereum Layer 2 scaling solution Starknet plans to launch Alpha v0.11.0 version on the mainnet this week, with significant improvements including a 5-fold reduction in computation costs. Starknet reminds users to upgrade their Starknet wallet accounts as soon as possible to avoid asset loss. (Source Link)
6. Euler Finance Attacker Apologizes: Will Refund Remaining Funds Soon
According to Coindesk, the attacker of the decentralized lending protocol Euler Finance apologized in a series of messages sent on the blockchain. One hacker identified as Jacob stated that they intend to return all funds to Euler.
It is reported that earlier this month, Euler Finance was hacked, resulting in a loss of nearly $200 million. The attacker has now returned over $120 million to the protocol. (Source Link)
7. Orbiter Finance: No Public Fundraising and No Token Plans Announced
Layer 2 cross-rollup bridge Orbiter Finance stated that it has not conducted any public fundraising activities and has not announced any plans regarding the sale or listing of tokens on exchanges. Any rumors in the market regarding such matters are unrelated to Orbiter Finance. (Source Link)
8. SBF's Lawyers and Prosecutors Reach Agreement on Proposed New Bail Conditions
According to a court document submitted on Monday, FTX founder Sam Bankman-Fried (SBF)'s lawyers have reached an agreement with U.S. prosecutors on new bail conditions. Under the conditions approved by U.S. District Judge Lewis Kaplan, SBF will receive a new phone that cannot access the internet and is limited to text messaging and voice calls. SBF will also receive a new laptop, but its functionality will be limited to accessing approved websites.
It is reported that these conditions were initially proposed earlier this month, after concerns arose that SBF may have attempted to contact witnesses while on bail. SBF has pleaded not guilty to wire fraud and money laundering charges and is set to go to trial in October. (Source Link)
9. Ant Group: A&T Capital is Ant's Overseas Fund, and Yu Has Completed Departure Procedures
In response to the investigation of Yu, the former head of A&T Capital, by Hangzhou police for alleged sexual assault on March 9, some netizens claimed that Yu was an executive at Ant Group. Ant Group responded that Yu was previously a staff member sent overseas to the fund (i.e., A&T Capital) and submitted his resignation on March 6, completing the departure procedures on March 21.
Earlier, on March 26, A&T Capital released a statement on Twitter revealing that Yu had represented one of its investors while working at A&T Capital. According to public information, Yu is a founding partner of A&T Capital, which focuses on investments in areas such as blockchain. According to its official website, A&T Capital is led by three founding partners located in Berlin, Singapore, and Shanghai. (Source Link)
"What Exciting Articles Are Worth Reading in the Last 24 Hours"
1. "Full Text of the 50-Page Charges by the U.S. SEC Against Justin Sun and His Companies"
The U.S. Securities and Exchange Commission has charged Justin Sun and his three wholly-owned companies, the Tron Foundation, BitTorrent Foundation, and BitTorrent, alleging illegal sales of unregistered securities, fraud, and market manipulation.
This article aims to connect traditional industries, the internet, and the cryptocurrency industry, attempting to help everyone view the future from a higher perspective. The article is divided into four parts: the evolution of investment logic in capital markets, risk-value investment logic, methods for assessing tracks/projects, asset allocation systems, and cognitive responses to the market.
3. "Overview of the U.S. Web3 Financial Regulatory Framework in 2022"
The U.S. is undoubtedly the leader in the global Web3 industry, with its inclusiveness and encouragement of technological innovation giving rise to numerous leading projects in the Web3 field. With the emergence of many black swan events in the digital asset market in 2022, especially after the FTX collapse, it will inevitably accelerate the U.S.'s determination to further improve the financial regulation of Web3.
