Daily Report | Binance submits new documents to dismiss the SEC lawsuit; El Salvador expects to sell out 1,000 Bitcoin "freedom visa" slots by the end of the year
Nasdaq will reuse encryption technology to develop the carbon market; Slow Fog Yuxian: Automated platforms are indeed convenient, but users must have the ability to navigate them when using.整理：Luan Peng, ChainCatcher
"What Important Events Happened in the Past 24 Hours"
1. Binance Files New Documents to Dismiss SEC Lawsuit
According to ChainCatcher and reported by The Block, Binance stated in documents submitted on Tuesday that the U.S. Securities and Exchange Commission's complaint mainly targets the clicking of websites, purchasing tokens from other anonymous token holders, and then canceling transactions made by customers. However, there are no contracts signed with the initiators for investing funds in a joint business enterprise in all the disputed transactions. The SEC ignored the requirement that whether an "investment contract" exists must be determined based on each transaction.
The entities operating Binance.US, BAM Trading and BAM Management, also stated in a document on Tuesday that the SEC's allegations of digital asset trading on the BAM platform constituting an investment contract are insufficient.
Previously, the SEC sued Binance and its founder Changpeng Zhao in June this year for allegedly violating national securities laws, accusing the cryptocurrency exchange of transferring funds to another investment fund owned by Zhao without informing customers. (Source link)
2. Nasdaq to Reuse Crypto Technology to Develop Carbon Markets
According to ChainCatcher and reported by Bloomberg, Nasdaq Co-President Cohen stated that Nasdaq will reuse crypto technology to develop carbon markets. Nasdaq suspended the launch of its digital asset custody business in July 2023, and Cohen remarked, "It will still be launched, but as a technology service. We will have an institutional-grade end-to-end technology platform that can power not only digital assets but also markets like carbon." (Source link)
3. El Salvador Expected to Sell Out 1,000 Bitcoin "Freedom Visa" Quotas by Year-End
According to ChainCatcher and reported by Cointelegraph, the National Bitcoin Office of El Salvador (ONBTC) revealed that the country's "Freedom Visa" program has received hundreds of inquiries and multiple applications since its launch on December 7, and it is expected to sell out by the end of the year.
The program limits 1,000 quotas per year. This project, launched by the El Salvador government in collaboration with stablecoin issuer Tether, is a procedure for obtaining residency visas and citizenship through donations, open to 1,000 individuals willing to donate $1 million in Bitcoin (BTC) or Tether (USDT) to the country. (Source link)
4. Slow Mist's Yu Xian: Automation Platforms Are Convenient, But Users Must Be Capable of Navigating Them
According to ChainCatcher, Slow Mist founder Yu Xian posted on social media, "A few days ago, someone had their Atomicals asset ATOM stolen because some people on the X platform were vigorously promoting the use of the online programming platform Replit to run atomicals-js for convenient automation of Atomicals asset-related operations.
Replit itself seems fine, and this promotion seems harmless, but the problem lies in the openness of the Replit platform and the lack of security awareness among players. Anyone can see the atomicals-js you are using, including the mnemonic phrases/private keys/addresses you configured. Thus, simple techniques like Google Hacking can discover these leaks, leading to asset theft.
It is important to note that while automation platforms or tools are indeed convenient, users must be capable of navigating them. This affects not only some players' Atomicals assets; we have also seen similar issues with inscription assets on other chains. Before we made this information public, such attacks had already occurred, and we have connected with the relevant victims." (Source link)
"What Are the Noteworthy Articles to Read in the Past 24 Hours"
At the end of 2023, Bitcoin Ordinals are once again booming in the market. According to CRYPTOSLAM data, the trading volume of Bitcoin Ordinals (inscriptions) in November was approximately $376 million, surpassing Ethereum NFT trading volume during the same period by 8.05%, and this advantage expanded to 18.75% in December (as of December 10). However, unlike earlier this year, the current boom in Ordinals is also related to the emerging BRC-20 tokens. According to CoinGecko data, the largest market cap token, ORDI, saw its price increase by 180.07% in just four days from December 2 to December 6. Other BRC-20 tokens also experienced significant gains.
2. "Cosmos Hub Stagnation Highlights Five Major Issues"
Cosmos Hub is a renowned center for cryptocurrency innovation, having pioneered many technologies that are now widely adopted. Notably, the founder of Cosmos is the inventor of the proof-of-stake consensus mechanism, which exemplifies the knack for creating new technologies within this ecosystem. However, despite Cosmos's strong technological originality, it has lost its momentum. The market value of the Atom token has declined. Cosmos lags behind competing ecosystems in metrics such as total value locked, active users, and revenue. Confidence in this ecosystem has weakened, which is concerning for a network that has been praised for its innovative spirit, as Cosmos's performance is lackluster.
3. "Chain Games Warming Up: How Are the Former Two Giants Axie and STEPN Strategizing?"
As the chain game market warms up, the former two giants Axie and STEPN have also been making frequent moves recently.
Axie has unveiled three strategies: on one hand, it is focusing on the game side chain Ronin Network, on the other hand, it is upgrading the classic game Axie Classic, and it is attempting to open new growth channels in Web2 through IP sales; while STEPN is more focused on launching its second chain game Gas Hero, using GMT as the game token. During this market-wide upswing, the monthly increase for AXS and GMT tokens has also reached around 20%.
