Evening News | SEC Chairman Refuses to Clearly Respond Whether ETH is a Commodity or Security; Lido DAO Proposes to Accept ARB Airdrop
Arbitrum will airdrop to eligible DAOs in the ecosystem; Tribe Capital intends to participate in the FTX reboot plan.Organizer: Xiangxiang Xi, ChainCatcher
"What Important Events Happened in the Last 24 Hours"
1. U.S. Congressman Grills SEC Chair: The Latter Refuses to Clearly Respond Whether ETH is a Commodity or Security
During a supervisory hearing on digital asset regulation held by the U.S. House Digital Assets Subcommittee, House Financial Services Committee Chair Patrick McHenry repeatedly asked SEC Chair Gary Gensler whether "ETH is a commodity or a security," to which Gary Gensler repeatedly refused to provide a clear answer.
Patrick McHenry believes that Gary Gensler's climate disclosure rules and his enforcement of digital asset regulation have weakened capital markets and stifled innovation. (Source link)
2. Twitter Inc. Has Been Renamed to X Corp.
Twitter Inc. has informed the court that it has been renamed to X Corp. in another state. The entity is registered in Nevada, rather than its previous registration in Delaware.
Although users still see the Twitter name on their phones and computers, a legal document submitted last week indicates that "Twitter Inc. has merged into X Corp. and no longer exists."
Previous report stated that Twitter has merged with a new company called X Corp. and is no longer an independent company. According to state filings, X Corp. was established in Nevada on March 9, with Musk as the president of the company and its parent company X Holdings Corp. (Source link)
3. Lido DAO Proposes to Accept 770,000 ARB Airdrop to Incentivize wstETH Usage in Arbitrum Ecosystem
The Arbitrum Foundation announced that the Lido protocol is eligible for the ARB airdrop due to its significant position in the Arbitrum DeFi ecosystem. According to the airdrop document, the Lido protocol is eligible to claim 772,621 ARB tokens.
In response to this airdrop, the Lido DAO reWARDS committee proposed a vote to decide on accepting the Arbitrum airdrop and how to effectively use the ARB tokens. The Lido DAO community is planning to distribute the ARB tokens alongside existing liquidity mining rewards for the wstETH pool on Arbitrum One to incentivize the use of wstETH throughout the Arbitrum ecosystem. The reWARDS committee will create a new multi-signature wallet on Arbitrum One to receive the ARB tokens. The proposal vote will end on April 22, with current support at 100%. (Source link)
4. Arbitrum: Token Airdrop for Eligible DAOs in the Ecosystem and Testing Their Wallet Transactions
Arbitrum tweeted that it will issue an initial token allocation to eligible DAOs in the ecosystem.
Currently, most DAOs have publicly confirmed their target addresses for receiving the ARB airdrop, and testing of transactions for those that publicly provide their treasury wallets will begin today, with full distribution planned for later this week while waiting for some DAOs to provide addresses. This token allocation is not from the Arbitrum DAO treasury or the foundation wallet, but is part of the initial airdrop. (Source link)
5. Lookonchain: A Smart Money Address Bought PEPE at a Low Price Days Ago, Current Yield Exceeds 4500 Times
According to monitoring by Lookonchain, a smart money address spent 0.125 ETH (approximately $251) to purchase 5.9 trillion PEPE tokens (currently worth $1.14 million) four days ago.
If he sells at the current price of $0.0000001933, he would make a profit of about $1.14 million, yielding over 4500 times. (Source link)
6. 0xScope: Over 20 Addresses Hold 12% of PEPE's Total Supply, Insider Trading Not Ruled Out
According to monitoring by 0xScope, one of the hottest meme coins in the market, PEPE, saw over 20 addresses spend no more than 0.02 ETH to purchase large amounts of PEPE tokens within 5 minutes of the Uniswap pool launch. After aggregating and analyzing these addresses, 0xScope found that they collectively hold 50 trillion PEPE tokens, accounting for approximately 11.9% of the total supply, with a current total value exceeding $17 million.
Due to the early buying time and the fact that most of these addresses' funds come from non-custodial trading platforms like Fixedfloat that can obscure fund flows, 0xScope does not rule out the possibility that these addresses belong to insiders. (Source link)
7. Sui Foundation: Token Recognition Sale Has Been Delayed
The Sui Foundation released a community announcement stating that the token recognition sale has been delayed due to delays in evaluating data collection projects, and trading platforms have been notified to adjust the corresponding sales time.
Additionally, the Sui Foundation reminds that in the past 24 hours, the foundation has not sent any emails to community members requesting collection verification information, and urges everyone to remain vigilant.
8. Bloomberg: Tribe Capital Intends to Participate in FTX Restart Plan, Has Secured $100 Million Support
According to Bloomberg, the potential plan for FTX to restart its cryptocurrency trading platform has attracted the interest of investment firm Tribe Capital. In January 2023, Tribe Capital co-founder Arjun Seti met with FTX's unsecured creditor committee to discuss a proposal to revive the trading platform. As part of the plan, Tribe is considering raising $250 million, having already secured $100 million in support from its parent company and investors.
Insiders indicated that Tribe's January proposal included approximately 9 million customer accounts, FTX US, FTX Australia, FTX Japan, FTX EU, FTX International, and LedgerX, while excluding venture capital portfolios and crypto assets. The new trading platform will continue to use the FTX name. Additionally, the FTX creditor committee stated that it is evaluating all options to restart or sell the trading platform and create value for creditors.
Tribe Capital was founded in 2018 and is one of FTX's investors. (Source link)
9. Ethereum Unstaking Withdrawal Requests Must Wait Over 17 Days
According to data from blockchain analytics firm Nansen, after the Shanghai upgrade, Ethereum validators who submit withdrawal requests will have to wait over 17 days to retrieve their staked ETH.
Last week, unstaking took about 14 days, but as more withdrawal requests from validators on the blockchain have surged, the waiting time for exits has extended. (Source link)
10. Messari Founder: Will Initiate a $100 Million Political Campaign to Support the Crypto Industry
Messari founder Ryan Selkis tweeted: "In the next 18 months, I will help lead a $100 million, multi-entity political campaign to support the crypto industry. I am putting my time, energy, and money into what I say I will do." (Source link)
"What Exciting Articles Are Worth Reading in the Last 24 Hours"
1. “The History of Airdrop Competition: A 'Cat and Mouse Game' Between Project Parties and Whales”
In less than three years since the airdrop feast initiated by Uniswap in September 2020, the form, nature, and scale of airdrops have undergone significant changes. Airdrops are no longer merely an on-chain carnival; the stakeholders involved have gradually included market makers, centralized exchanges, wallets, etc., leading to frequent occurrences of scenes such as exchanges rushing in, large holders dumping, gas wars, and project websites crashing.
This article provides an in-depth review of the history of airdrop competition, revealing that project parties and whales are continuously upgrading their offensive and defensive tactics, evolving into a bizarre relationship of mutual confrontation yet dependence.
The collapse of FTX is one of the heaviest topics in the cryptocurrency industry in 2022, especially for individuals and institutions that suffered economic losses as a result. Multicoin Capital, which experienced a staggering 91.4% loss throughout 2022, is undoubtedly one of the representatives.
Recently, Multicoin Capital co-founders Kyle Samani and Tushar Jain participated in a podcast with Blockworks, where they deeply analyzed their interactions with FTX and answered the question: How did Multicoin Capital get involved with FTX and ultimately suffer the consequences?
Compared to Aptos, Sui places greater emphasis on innovation in underlying technology, aiming to become the first internet-scale programmable blockchain platform. Although Sui's development progress is currently slightly slower than Aptos, projects driven by technological innovation often have potential. Sui has accumulated rich technical advantages over the past few years, and with the launch of the Sui permanent testnet, the market holds high expectations for its innovations in the next expansion cycle.
This article discusses various aspects of the Sui project, including its basic situation, ecosystem development, token economic model, technical network progress, and development planning.
