Crypto Guides, Knowledge & Insights

Mirana Ventures Plans to Invest $8 Million in Toncoin in the Secondary Market

According to official sources, Web3 investment firm Mirana Ventures has announced a new long-term partnership with TON, including the purchase of Toncoin in the secondary market for $8 million. David Toh, Managing Partner at Mirana, stated that due to the unique advantages of TONs integration with Telegram, which facilitates the widespread adoption of token governance technology, this collaboration will provide financial support for TON and long-term assistance in building Telegrams Web3 SuperApp, as well as fostering partnerships with other blockchains, such as Mantle Network.　　

2024-03-07Deep Dive

BlockFi, FTX, Alameda Estates Reach $874.5M Settlement, Pending Judge's Approval

According to a court document, bankrupt cryptocurrency lending company BlockFi has reached a “principle” agreement with FTX and Alameda Research Estates for nearly $1 billion, which could potentially restore all assets for BlockFi customers.　　Under the settlement agreement, BlockFi will receive a total compensation of $874.5 million from FTX and Alameda Research. $250 million will be treated as secured claims and will be prioritized for payment to BlockFi after creditor approval of the bankruptcy plan submitted by FTX in December.　　As a result, FTX will waive its claims against BlockFi, and according to the settlement agreement, BlockFis remaining claims will be paid out like other similar claims under FTXs proposed plan. The agreement is pending judges signature.　　It is reported that BlockFi had obtained a $400 million credit line from FTX, and FTXs legal name, West Realm Shires, is one of BlockFis largest creditors, with claims totaling $275 million.　　

2024-03-07Deep Dive

Reviewing the Top 15 Projects from the ETHDenver Hackathon

The annual ETHDenver conference is a grand event in the Ethereum ecosystem. ETHDenver 2024 took place from February 23rd to March 3rd in Denver, USA, attracting tens of thousands of Web3 enthusiasts and developers.　　Discussions at the event were particularly lively around topics such as “liquidity restaking,” “Bitcoin Layer 2,” “tokens,” “Crypto+AI,” “DePIN,” and “modularity.”　　As the event concluded, the ETHDenver website also announced the Top 15 projects from the BUIDLATHON hackathon, covering various areas such as “infrastructure and scalability,” “DeFi, NFTs, and gaming,” “DAOs and communities,” “public goods,” “identity, privacy, and security,” among others. These projects will share a total of $947,580 in prizes provided by dozens of projects including Metis, 0x, ZetaChain, and others.Infrastructure and ScalabilityVeriFido　　VeriFido is positioned as a verifiable Ethereum data indexing service.　　Due to the inconvenience of directly accessing application states from on-chain raw data, current projects commonly rely on indexer services to retrieve crucial data needed for applications. However, the indexer services available on the market currently do not reach the same level of decentralization and security as other components in the Web3 stack. In this scenario, data failures could lead to severe disruptive consequences, especially for DeFi projects involving real assets.　　To address this issue, VeriFido proposes

2024-03-06Deep Dive

SEC Delays Decision on Fidelity Ethereum Spot ETF Application, Initiates Comment Period

The U.S. SEC has postponed its decision on the Fidelity Ethereum spot ETF application and has initiated a comment period regarding the application.　　Bloomberg analyst James Seyffart predicts further delays in the coming weeks, with May 23rd being a noteworthy date. By then, the SEC should have made final decisions on these applications. However, there are other indications that may suggest how the SEC will view these applications in the next month or so.　　Earlier on March 5th, public documents revealed that the U.S. SEC postponed its decision on the BlackRock Ethereum spot ETF.　　

2024-03-06Deep Dive

Grayscale Launches Crypto Staking Fund, Initially Including 9 Assets

According to CoinDesk, Grayscale has announced the launch of a new crypto staking fund named the “Grayscale Dynamic Yield Fund.” Initially, it includes nine assets: Aptos (APT), Celestia (TIA), Coinbase Staked Ethereum (CBETH), Cosmos (ATOM), Near (NEAR), Osmosis (OSMO), Polkadot (DOT), SEI Network (SEI), and Solana (SOL). The fund aims to generate income through crypto staking and will distribute dividends quarterly in USD.　　

2024-03-06Deep Dive

Data: Over $1.1 Billion in Futures Liquidated Due to Sharp Bitcoin Price Fluctuations

After reaching $69,000, the price of BTC quickly dropped, with a fluctuation rate of 6.4%. In the past 24 hours, a total of $1.16 billion in futures have been liquidated.　　

2024-03-06Deep Dive

El Salvador Holds Bitcoin Holdings Worth Over $155 Million, President States No Intention to Sell

According to a report by The Independent, President Bukele of El Salvador has stated that despite profits exceeding 50%, the country has no intention of selling the significant amount of Bitcoin it holds. This Central American country became the worlds first to adopt Bitcoin as an official currency in 2021, and it also allocated national funds into the asset. Currently, El Salvador holds approximately 2,380 bitcoins, purchased at an average price of $44,300 each, now valued at over $155 million. It is reported that under El Salvadors Bitcoin law, every Salvadoran is eligible to receive $30 worth of free bitcoin to incentivize the adoption of Bitcoin.　　

2024-03-05Deep Dive

BitForex and Its Website Listed on Hong Kong's Suspicious Virtual Asset Trading Platform Alert List

The Securities and Futures Commission of Hong Kong issued a warning to the public today to beware of a virtual asset trading platform operating under the name BitForex, suspected of engaging in virtual asset fraud. BitForex is neither licensed nor registered with the Securities and Futures Commission to operate a virtual asset trading platform in Hong Kong. The Securities and Futures Commission of Hong Kong has noted that the platform has used wallet and website maintenance as excuses, making it increasingly difficult for victims to withdraw assets from the platform in recent days. Victims have reported that BitForexs website is now inaccessible, preventing them from accessing their accounts and withdrawing assets held on BitForex. Currently, the Securities and Futures Commission of Hong Kong has listed BitForex and its website on the alert list of suspicious virtual asset trading platforms.　　

2024-03-05Deep Dive

Cumulative Net Inflows of Bitcoin Spot ETFs Exceed $79 B, GBTC Records Net Outflows Over $92 B

According to Farside Investors monitoring, Bitcoin spot ETF saw a net inflow of $562.7 million yesterday.　　Furthermore, Bitcoin spot ETF has seen a cumulative net inflow of $7.9189 billion since its launch. Breakdown:　　IBIT: Cumulative net inflow of $8.3789 billion;　　FBTC: Cumulative net inflow of $5.2197 billion;　　GBTC: Cumulative net outflow of $9.2666 billion.　　

2024-03-05Deep Dive

Decoding ETF Dynamics: Expert Insights on ETH Approval Odds, Industry Forecast Post-ETH ETF Approval

On January 11th, 11 BTC ETFs were approved, sparking a revival in the crypto market. Besides signaling positivity to the market, BTC ETFs have also brought in additional funds to the industry. According to SosoValue data, as of March 1st, the total net asset value of Bitcoin spot ETFs stood at $48.22 billion, with an ETF net asset ratio (market value as a percentage of total Bitcoin market value) of 3.91%. The historical cumulative net inflow has reached $7.35 billion.　　The impressive performance of BTC ETFs over the past 53 days has boosted market confidence, while simultaneously raising hopes for another milestone in the crypto sphere – the approval of ETH ETFs.　　According to Bloomberg data, the final decision date for the spot ETH ETF “VanEck Ethereum ETF” is set for May 23rd, making it the earliest one. Currently, there are a total of six spot ETH ETFs awaiting the SECs verdict.Industry Experts Perspectives on the Probability of ETH ETF Approval　　Jake Chervinsky, Chief Legal Officer at Variant Fund, believes that the approval of spot Ethereum ETFs is uncertain. Chervinsky stated, “Im not saying a spot ETH ETF wont be approved before May 23rd.” “Im just saying that legal issues and policy environment

2024-03-05Deep Dive

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