TL; DR
- ARK Invest reports: the price of a single bitcoin may exceed $1 million in the next decade.
- Damus to Introduce Bitcoin Tipping for Posts in Next Release.
- Visa is testing how to facilitate large USDC settlement payments and allow conversion to fiat currency.
- A16z controls 41.5 million UNI tokens through 11 addresses, approximately 4.15% of the total supply.
- The Financial Services Commission (FSC) of South Korea has released a proposal titled “Reform Plan for the Securities Token Offering (STO).”
- Check Point has warned that the contract code of the Dingo’s token, DINGO, has a backdoor feature that can manipulate transaction fees.
- Blockchain startup Super Block has completed a $7.23 million A-round funding.
- NFT project Memeland spent 796.86 ETH, worth approximately $1.28 million on buying 8 BAYCs. Including 2 with Trippy Captain’s Hat.
- Potential buyers are inquiring about purchasing the struggling crypto lender Hodlnaut.
- Binance will start charging interest on negative USDT balance on users who hold a negative USDT balance in their USDⓈ-M Futures Wallets.
1. According to a research report released by ARK Invest, events such as Terra/LUNA, Three Arrows Capital, Celsius, FTX/Alameda in 2022 resulted in the cryptocurrency market evaporating around $150 billion. However, the report suggests that over the next decade, cryptocurrencies and smart contracts could create market values of $200 billion and $50 billion, respectively. ARK Invest predicts the price of a single bitcoin may exceed $1 million in the next decade and bitcoin has the potential to expand into a multi-trillion-dollar market.
2. According to a tweet from Damus, an open social application based on Nostr protocol, they will introduce a feature for rewarding posts with bitcoin in the next version.
3. The head of Visa’s cryptocurrency division, Cuy Sheffield, stated during the StarkWare Sessions 2023 that “we are testing how to accept settlement payments from issuers of USDC on Ethereum and pay with USDC”, so these are large-scale settlement payments and are designed to allow customers to convert digital assets into fiat currency on their platform.
4. Crypto influencer Chris Blec tweeted, a16z has used its full voting power to oppose Uniswap’s proposal to launch the Uniswap protocol on BNB Chain using the Wormhole cross-chain bridge. Blec notes that a16z is a major investor in LayerZero, a competitor of Wormhole. Binance founder Zhao Changpeng (CZ) retweeted Blec’s tweet, asking “Uniswap controlled by a16z?” Zhao also retweeted a post from blockchain data company Bubblemaps which states that a16z controls over 4.15% of the total UNI supply, which is over 4% of the total supply.
5. The Financial Services Commission (FSC) of South Korea has released a proposal titled “Reform Plan for the Securities Token Offering (STO).” It plans to allow STO to be issued and circulated in a securities form within the scope of the Capital Market Act. At the same time, to prevent potential illegal events and protect investors, guidelines and applicable cases for determining whether digital assets are securities are provided.
6. The cyber security software company Check Point has warned that the contract code of the cryptocurrency project Dingo’s token, DINGO, has a backdoor feature called “set Tax Fee Percent” that can manipulate transaction fees and raise the cost of buying and selling to 99%, which is contrary to the project’s white paper which states that only 10% fee is charged for each transaction. As of the time of this news release, Dingo is ranked 283rd on CoinMarketCap with a real-time market value of 93.75 million US dollars.
7. Blockchain startup Super Block has completed a 90 billion KRW (approx. $7.23 million) A-round funding, investors include SK, Netmarble, DSC Investment, E & INVESTMENT, Schmit, and others. The funds raised will be used to recruit talent, develop the Over Network and its wallet (which is set to launch this year), and expand the market.
8. NFT project Memeland spent 796.86 ETH, worth approximately $1.28 million on buying 8 BAYCs. Including 2 with Trippy Captain’s Hat.
9. Potential buyers are inquiring about purchasing the struggling crypto lender Hodlnaut and its claims against bankrupt digital-asset exchange FTX. According to documents seen by Bloomberg, the administrator is signing confidentiality agreements with these potential investors. The documents show that as of December 9, the Hodlnaut Group owed a total of $162 million to Algorand Foundation, Samtrade Custodian, SAM Fintech and Jean-Marc Tremeaux, which is 62% of its outstanding debt. According to November 2022 documents, Hodlnaut’s assets on FTX accounted for 72% of its assets deployed on centralized exchanges, approximately $14 million.
10. Binance will start charging interest on negative USDT balance on users who hold a negative USDT balance in their USDⓈ-M Futures Wallets, starting from 8:00 am UTC on February 27th. Interest charged daily will be based on the average market rate.