Crypto Guides, Knowledge & Insights

Founder of Taiwan's Ace Exchange Arrested on Allegations of Fraud

According to Cointelegraph, the Taipei City Police conducted raids on multiple locations, including the headquarters of Ace Exchange, leading to the arrest of Ace Exchange founder David Pan and 14 others. They were charged with deceiving investors through false cryptocurrency statements, illicitly profiting approximately 200 million New Taiwan Dollars (equivalent to around 6.4 million US dollars).　　Ace Exchange issued a statement on January 4th via the X platform stating that any suspected illegal activities belonged to the “token project party” and would not affect the operation of the exchange. Wang Chen-huan, the president of Ace, stated, “The exchange plans to delist the MOCT/TWD trading pair (MOCT being one of the tokens suspected of fraud) on January 8 and will fully cooperate with any investigation. Some coins listed by individual parties in 2019 involved illegal acts. Essentially, ACE is cooperating with the investigation as a witness, contrary to some media reports implicating company employees, which are not true.”　　The Taiwanese authorities seized approximately 3.5 million US dollars worth of cryptocurrency among the confiscated funds. David Pan and others reportedly declined cooperation and were detained on charges of fraud.　　

2024-01-05Deep Dive

US Government Holds Over $8 Billion Worth of Bitcoin

Due to a healthy price surge, the U.S. federal government now holds at least $8.3 billion worth of Bitcoin, a number that was at $5 billion less than three months ago.　　Between November 2020 and 2022, the U.S. authorities disclosed the confiscation of 207,189 Bitcoins in three separate actions related to the Silk Road dark web marketplace, hacker Jimmy Zhong, and the Bitfinex cryptocurrency exchange. Less than 5% of the confiscated Bitcoins have been sold. Last February, the government sold 9,861 BTC previously belonging to Silk Road on Coinbase. These transactions generated revenue of $215 million for the government at an average price of $21,800 per Bitcoin, approximately half of the current price.　　At that time, U.S. prosecutors stated their intention to sell the remaining Silk Road Bitcoins—41,491 BTC—in four batches over the following calendar year. This cache, valued at $1 billion back then, is now worth $1.8 billion. This deadline is set to expire in two months.　　

2024-01-04Deep Dive

BTC Miner Revenue Hits $1.59 Billion in December 2023; GBTC Daily Average Trading Volume Up by 63.4%

The Block Pro data indicates a 21.7% month-over-month increase in BTC miner revenue, reaching $1.59 billion in December 2023. Meanwhile, ETH staker revenue increased by 17.1% to $185 million.　　In December, the average daily trading volume of the Grayscale Bitcoin Trust (GBTC) surged by 63.4%, reaching $195 million.　　Additionally, 127,110 ETH were burned in December, equivalent to approximately $286 million. Since the implementation of EIP-1559 in early August 2021, a total of 3.89 million ETH has been burned, amounting to around $10.8 billion.　　The trading volume of Ethereum NFT platforms witnessed a 39.8% increase in December, reaching $780 million.　　Moreover, compliant CEX spot trading volumes rose by 34.5% in December, reaching $598.7 billion. Binance held a market share of 72.3%, followed by Coinbase with 11.7%, Kraken with 4.9%, and LMAX Digital with 3.2%.　　

2024-01-04Deep Dive

CoinShares: Net Inflows of $2.25 Billion in Digital Asset Investment Products in 2023

Mint Cash announced on the X platform that it will initiate the Burndrop program no less than 30 days from now. The Burndrop program will distribute two tokens, oppaMINT and ANC, in proportion to the amount of USTC destroyed in each wallet. Furthermore, 20% of the total supply of oppaMINT and 15% of the total supply of ANC will be allocated to separate airdrop programs targeting UST/Luna victims.　　

2024-01-04Deep Dive

Mint Cash: Initiating Burndrop Program in One Month, Airdropping Two Tokens to UST and Luna Victims

2024-01-04Deep Dive

Bloomberg ETF Analyst: Significant Information in Grayscale's Filed Documents Still Needs Improvemen

Bloomberg ETF analyst Eric Balchunas posted on the X platform, stating, “Grayscales new revised edition has just been released. The document clearly specifies accepting only cash, but it still doesnt mention specific Authorized Participants (APs), leaving blanks in the spaces where their names should appear. The reason for this is currently unclear because the SEC wants to see this, and theyve consistently emphasized the importance of having an AP. Additionally, the document seems to lack information regarding fees. This remains a significant mystery yet to be solved.”　　

2024-01-03Deep Dive

ymension Announces Launch of Genesis Rolldrop

Module-based blockchain Dymension announced on the X platform that over one million addresses have the opportunity to participate in Dymensions Genesis Rolldrop. Eligible participants can claim up to 70 million DYM (7% of the total supply) by January 21, 2024, 12:00 (UTC time).　　The airdrop details are as follows, targeting users of Celestia, Ethereum L2, Cosmos, and Solana:　　Celestia: Users staking TIA in Celestia as of December 19, 2023, are eligible to receive 20 million DYM (2% of the total supply). The minimum staking requirement is 1 TIA, with an upper limit of 5000 TIA.　　Ethereum L2: Users on Arbitrum, Optimism, Base, and Blast will receive 10 million DYM (1% of the total supply) based on user activity, funds in multi-signature bridge contracts, and previous airdrop lists.　　Cosmos: ATOM stakers, stATOM holders, and OSMO stakers will qualify for 17.5 million DYM (1.75% of the total supply) from the initial supply by the same December 19 deadline.　　Solana: 10 million DYM (1% of the total supply) will be distributed based on 500,000 participating addresses across various protocols like Wormhole, Tensor, and Drip.Haus.　　NFTs: A total of 12.5 million DYM (1.25% of the total supply) will be allocated to holders of Pudgy Penguins, Mad Lads, Tensorians, and Bad

2024-01-03Deep Dive

One Arbitrum Address Generates Multiple Rug Pull Tokens, Deposits $500K Assets into Tornado Cash

Cyvers AI system has detected multiple Rug Pull activities associated with addresses starting with 0xD2db on the Arbitrum network.　　This specific address has been involved in creating numerous tokens. Around 500,000 USDT tokens from this address have been bridged to ETH and then exchanged for DAI before being deposited into Tornado Cash.　　As of now, this address still holds approximately 563,000 USDC on the Arbitrum network. Cyvers strongly advises users against interacting with tokens associated with this address.　　

2024-01-03Deep Dive

India Witnesses Record Cryptocurrency Trading Volume in November 2023, Average Investor Age Rises

According to a new report from the cryptocurrency exchange CoinDCX, India experienced its highest-ever cryptocurrency trading volume in November 2023, signaling a surge in activity within the countrys digital asset ecosystem. 28 entities from India became “registered reporting entities” for financial intelligence.　　60% of users are concentrated in 10 cities, and contrary to expectations, secondary cities like Lucknow and Patna are leading in cryptocurrency adoption, with Jaipur, Indore, Bhubaneswar, and Ludhiana among the top 15.　　Furthermore, the average age of cryptocurrency investors in India increased from 25 years old in 2022 to 30 years old in 2023, indicating that this industry is attracting experienced investors beyond the traditional younger demographic. The report suggests that this shift indicates an increasing understanding and acceptance of cryptocurrency as a legitimate investment.　　

2024-01-02Deep Dive

Unibot Launches Solana Trading Bot "Unibot on Solana"

Unibot has officially announced the launch of its Solana-specific trading bot, “Unibot on Solana,” which will open its initial phase of access to early users.　　The key features of Unibot on Solana include support for advanced limit orders, embedded charts and token analytics, advanced routing and trading priority strategies, as well as built-in bidirectional bridging between Ethereum and Solana.　　Earlier in December 2023, Unibot announced on the X platform its plans to introduce a dedicated bot specifically designed for high-speed on-chain trading on Solana. This initiative stemmed from significant partnerships with Jupiter and Birdeye.　　

2024-01-02Deep Dive

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