Daily Report | Trump's team considers establishing the White House's first cryptocurrency-related position; FTX co-founder Gary Wang sentenced to time served, no additional prison time; Binance to launch SLERFUSDT and SCRTUSDT perpetual contracts
November 21 News OverviewOrganizer: Luan Peng, ChainCatcher
Important News:
- Insider: Trump's team considers establishing the first crypto-related position in the White House
- Bitwise applies to register Solana ETF in Delaware, USA
- Bloomberg analyst: Grayscale submits Bitcoin miners ETF application
- FTX co-founder Gary Wang sentenced to time served, no additional prison time
- Justin Sun acquires Maurizio Cattelan's artwork Comedian banana for $6.2 million
- Fox reporter: Crypto bank Custodia Bank to further lay off staff to save funds
"What important events happened in the past 24 hours"
Insider: Trump's team considers establishing the first crypto-related position in the White House
According to Bloomberg, sources familiar with the transition work revealed that President-elect Trump's team is discussing with the digital asset industry whether to establish a new position in the White House specifically responsible for cryptocurrency policy.
Insiders say Trump's team is reviewing candidates for this position. If established, this would be the first position in the White House dedicated to the cryptocurrency sector, highlighting the influence of the emerging industry on the new government.
It is currently unclear whether the position will be a senior staff role or a "crypto czar" (a term used in Washington to refer to the person overseeing federal government policy and regulation). They stated that advocates from the crypto industry are pushing for the position to have direct ties to Trump.
Bitwise applies to register Solana ETF in Delaware, USA
According to Cointelegraph, Bitwise has submitted documents to the Delaware Secretary of State to apply for the registration of its first Solana ETF.
Bloomberg analyst: Grayscale submits Bitcoin miners ETF application
Bloomberg ETF analyst Henry Jim posted on X that Grayscale has submitted an application for a Bitcoin Miners ETF, with trading code/fee pending, effective date set for January 27, 2025.
FTX co-founder Gary Wang sentenced to time served, no additional prison time
Gary Wang, co-founder and former CTO of the cryptocurrency exchange FTX, provided extensive cooperation to U.S. prosecutors and was therefore sentenced to time served, with no additional prison time.
Wang faced a maximum of 50 years in prison but began cooperating with authorities shortly after FTX's collapse in November 2022.
Prosecutor Andrew Roos emphasized the uniqueness of Wang's cooperation, highlighting his technical expertise and willingness to help from the very beginning. Roos stated, "He cracked half the case for us on the first day of cooperation." Wang's insights were crucial for understanding how FTX's code allowed for the misappropriation of customer funds, which played a central role in the fraud associated with the exchange.
Justin Sun acquires Maurizio Cattelan's artwork Comedian banana for $6.2 million
Justin Sun acquired Maurizio Cattelan's iconic artwork Comedian banana for $6.2 million.
He stated, "This is not just a piece of art; it is a cultural phenomenon that connects the worlds of art, meme culture, and the cryptocurrency community. I believe this work will inspire more thoughts and discussions in the future and become a part of history. I am honored to be the proud owner of this banana and look forward to it bringing more inspiration and impact to art lovers around the world."
Fox reporter: Crypto bank Custodia Bank to further lay off staff to save funds
According to Fox Business reporter Eleanor Terrett, Wyoming-based crypto bank Custodia Bank will further lay off staff to save funds.
Custodia's lawsuit against the Federal Reserve will have oral arguments on January 21, coinciding with Trump's inauguration day.
Custodia CEO Caitlin Long stated, "I am incredibly proud of the Custodia team, the services we build for our clients, and our resilience in multiple innocent 'de-banking' incidents. I especially thank Custodia's clients and shareholders who help us continue to fight for lasting banking access for the compliant U.S. crypto industry."
Blockstream announced the establishment of an asset management division aimed at bridging the gap between Bitcoin and mainstream finance. Hedge fund professional Sean Bill has been appointed as Chief Investment Officer to lead this initiative.
South Korean police have confirmed for the first time that the 342,000 Ethereum stolen from the cryptocurrency exchange Upbit in 2019 was carried out by North Korean hacker groups "Lazarus" and "Andariel" under the Reconnaissance General Bureau. The police reached this conclusion through North Korean IP addresses, the flow of crypto assets, and evidence obtained in cooperation with the FBI.
57% of the stolen Ethereum was exchanged for Bitcoin at low prices, and the remaining assets were laundered through 51 overseas exchanges. After four years of tracking, the police successfully recovered 4.8 Bitcoin (approximately 600 million Korean won) from a Swiss exchange and returned it to Upbit.
According to Workers' Daily, the People's Court of Changping District, Beijing, recently released a case where an employee abused his position to profit from virtual currency, constituting the crime of illegally obtaining data from computer information systems. Zhang, a blockchain engineer at a certain internet company, learned that there was a large amount of Ethereum in an account while participating in project development and planned to attack the company's account to obtain it.
He took advantage of his job to request unauthorized program codes and private keys from colleagues and shared them in a "technical exchange group," inviting group members to crack and attack the company's account, successfully obtaining 106.15 Ethereum and illegally profiting 38,329.76 yuan.
The court found that Zhang violated regulations by illegally obtaining Ethereum information from the company's computer system and profiting from trading, constituting the crime of illegally obtaining data from computer information systems. Although there were management loopholes in the company, this was not a valid excuse for Zhang's crime. Ultimately, Zhang was sentenced to 3 years and 6 months in prison, fined 60,000 yuan, and ordered to return the illegal gains of 38,329.76 yuan. The second-instance ruling dismissed the appeal and upheld the original judgment.
OKX will officially delist LON/USDT and LON/USDC trading pairs on November 28
OKX announced that it will officially delist the LON/USDT and LON/USDC trading pairs on November 28, 2024, from 16:00 to 16:30. Users with open orders for these trading pairs are requested to cancel their orders before 16:00 on November 28, 2024. If not canceled in time, the order system will execute automatically. Cancellation may take 1 to 3 working days.
Binance to launch SLERFUSDT and SCRTUSDT perpetual contracts
Binance will launch SLERFUSDT and SCRTUSDT perpetual contracts on November 21, 2024, at 11:30 (UTC), supporting up to 75x leverage.
"What are the exciting articles worth reading in the past 24 hours"
Stablecoin Handbook: How a Trillion-Dollar Market Was Formed?
The crypto market is not key in the stablecoin competition; allocation and real adoption are crucial. Stablecoin adoption is primarily reflected in three areas: crypto-native, fully banked, and unbanked worlds.
TikTok's popular meme comes to the crypto world worth $600 million, reviewing Chillguy's rapid rise
In today's general meme pullback, who is the hottest counter-trend player? No need to think, it must be the expressionless ChillGuy with his hands in his pockets.
This guy, who became popular on the overseas version of TikTok, stirred waves in just 24 hours: its market cap once surpassed $600 million, with a 24-hour increase of several times, and trading volume exceeding $700 million, with the recent hour's trading volume also exceeding $100 million.
Just a few days ago, it was merely spreading on TikTok.
Interestingly, while we are still sighing over the phrase "Just Chill," crypto players have already demonstrated what "true Chill" means: from the Salvadoran president's post to Musk's retweet, everything can become the focus of attention and hype.
ChillGuy, in a "lying flat" posture, performed a perfect "lying win."
If you still don't understand how a meme can stir up waves, here’s a quick recap of the storyline.
A loophole exploited three times, Meerun stole $1.2 billion from FTX
Last week, a lawsuit document from FTX revealed that a Mauritian citizen named Nawaaz Mohammad Meerun (hereafter referred to as Meerun) extracted $1.2 billion from the FTX exchange and Alameda Research over a year without leaving any solid evidence.
Bitcoin nearing $100,000, altcoins underperforming
As Bitcoin once again reaches a new high of $97,000, its market share in the cryptocurrency market has also hit a new high in three years. The pro-crypto group under Trump has consistently positioned Bitcoin as the core of its crypto strategy, and with the clarity of the crypto compliance environment, various compliant investment methods are being sought after by investors.
Banana on the wall, can the art and fruit combination concept meme coin Ban get on board?
This morning, Justin Sun announced the purchase of Maurizio Cattelan's iconic work "Comedian" for $6.2 million and commented, "This is not just a piece of art; it represents a cultural phenomenon that connects the worlds of art, memes, and the cryptocurrency community. I believe this work will inspire more thoughts and discussions in the future and become a part of history."
