Today's news tips:
1. Tether announced a voluntary freeze on the wallets of individuals sanctioned by the US OFAC
2. The U.S. Department of Justice announced the details of its supervision of Binance, and Binance may face unprecedented compliance pressure
3. Decrypt and Web3 media Rug Radio will merge into a new company next year
4. He Yi: Alarmist rhetoric will not kill Binance, and the headquarters and board of directors will be established as soon as possible
5. Luke Dashjr: The Bitcoin Core client vulnerability exploited by the inscription has been assigned the identifier CVE-2023-50428
6. Cosmos Ecosystem Eclipse Fi Announces ECLIP Token Economics, IDO Whitelist Application Will Open Next Monday
7. The third largest individual holder of MKR redeemed 35,000 ETH from Lido in the past day
Regulatory News
The U.S. Department of Justice announced the details of its supervision of Binance. Binance may face unprecedented compliance pressure
According to the latest disclosure on the X platform by John Reed Stark, former director of the U.S. SEC's Office of Internet Enforcement, Binance has made a series of unprecedented compliance commitments in its plea agreement with the U.S. Department of Justice (DOJ) and the Financial Crimes Enforcement Network (FinCEN). These commitments include establishing new procedures to deal with policies, procedures and internal controls, customer and third-party relationships, anti-circumvention controls, regular reviews, appropriate supervision and independence, training and guidance, comprehensive reporting and investigation, enforcement and discipline, and monitoring, testing and auditing. Binance's settlement agreement requires it to provide the Department of Justice, FinCEN, and various financial regulators and law enforcement agencies with years of instant access, audits, reviews and inspections, exposing the company and its customers to 365 days a year, around the clock financial inspections.
Binance must facilitate the monitor’s access to the company, documents, and resources, and provide the monitor with access to all information, documents, records, facilities, and employees upon reasonable request by the monitor. Binance must also make every effort to provide the monitor with access to the company, former employees, agents, intermediaries, consultants, representatives, distributors, licenses, contractors, suppliers, and joint venture partners. In some cases, the regulator may even choose not to inform Binance of its findings.
Project News
Tether voluntarily freezes wallets of individuals sanctioned by OFAC
Stablecoin issuer Tether has announced further cooperation with law enforcement and regulators by launching a voluntary wallet freeze policy, according to a Dec. 9 blog post. Since Dec. 1, Tether has implemented controls on the secondary market to freeze activity related to sanctioned persons on the U.S. Office of Foreign Assets Control (OFAC) Specially Designated Nationals (SDN) list. Companies controlled or owned by sanctioned countries are also on the list. Tether said the policy will complement existing security protocols and is a "proactive effort to work more closely with global regulators and law enforcement agencies."
LayerX Capital has redeemed and transferred 10.57 million MATIC tokens to Binance since March last year. The current loss of MATIC investment is 47%.
According to on-chain analyst Ember, LayerX Capital redeemed 3.61 million MATIC (US$3.19 million) from the MATIC PoS staking contract 10 hours ago and then transferred it to Binance. LayerX Capital received/bought 11.88 million MATIC (US$28.33 million) from Binance and Wintermute at an average price of US$2.38 near the historical high price of MATIC in December 2021 and deposited it in PoS staking. Then, starting in March 2022, MATIC was redeemed and transferred to Binance. So far, a total of 10.57 million MATIC (US$8.62 million) has been redeemed and transferred to Binance in more than a year, with an average price of US$0.815. Judging from the current price, LayerX Capital's MATIC investment is currently losing US$13.29 million (-47%).
He Yi: Alarmist rhetoric will not kill Binance, we will set up a headquarters and board of directors as soon as possible
In response to the previous rumors about Binance, Binance co-founder He Yi tweeted that only those mediocre and hopeless clowns need to tweet FUD Binance every day to attract public attention. Alarmism will not kill Binance, but will only make more people stand with Binance. This is an era of highly transparent information. Technology changes the world. Binance is a technology company, and we will set up a headquarters and board of directors as soon as possible. However, this has no direct relationship with transparency and success, but needs to better fit the image of a "financial institution."
Cosmos Ecosystem Eclipse Fi Announces ECLIP Token Economics, IDO Whitelist Application Will Open Next Monday
Eclipse Fi, the modular token issuance platform of the Cosmos ecosystem, announced the ECLIP token economics on Twitter. The IDO whitelist application process starts on Monday. The total supply is 300 million ECLIPs, the initial circulation supply is 20,550,000 ECLIPs, the IDO price is $0.075, and the FDV valuation is $22.5 million. The issuing blockchain is Neutron, and ECLIP will also be packaged on Arbitrum and Ethereum.
Decrypt and Web3 media Rug Radio will merge into a new company next year
Crypto media Decrypt has signed a letter of intent to merge with Web3 media Rug Radio. The two parties will merge to form a new, yet-to-be-named holding company while retaining their respective brands and independence. Decrypt's current CEO Josh Quitner will serve as chairman of the new holding company. Rug Radio's current co-CEO Loxley Fernandes and founder Farokh Sarmad will serve as CEO and president, respectively. Decrypt hopes to expand from the blockchain field into new areas such as longevity and emerging technology/artificial intelligence. The new company plans to work exclusively with Arbitrum. Rug Radio currently has 12 full-time employees, while Decrypt has 22. All employees will remain after the merger is completed. Executives said they aim to complete the transaction in early 2024 and expect the transaction to not require regulatory approval.
Luke Dashjr: The Bitcoin Core client vulnerability exploited by the inscription has been assigned the identifier CVE-2023-50428
Bitcoin Core client developer Luke Dashjr tweeted that the Bitcoin Core client vulnerability exploited by Inscription has been assigned the identifier CVE-2023-50428. According to previous news, Inscription is using a vulnerability in the Bitcoin Core client to send spam to the blockchain. Since 2013, Bitcoin Core has allowed users to set additional data size limits when relaying or mining transactions. Inscription bypassed this limit by obfuscating its data as program code. The vulnerability was recently fixed in Bitcoin Knots V25.1. In the upcoming V26 version, Bitcoin Core still has vulnerabilities.
SlowMist founder: It is not new that inscriptions are assigned CVE numbers, but roles related to the Bitcoin ecosystem may take it seriously
Yu Xian, the founder of SlowMist, said on the X platform: "The inscription issue has been assigned a CVE number, which is a radical move and clearly defines the vulnerability. CVE numbers are nothing new, and many security teams/individuals can apply for them. We don't take them too seriously... but perhaps people related to the Bitcoin ecosystem will take them seriously, after all, CVE numbers are one of the most well-known vulnerability proofs in the security industry."
OKX: Web3 wallet asset display and transaction services have returned to normal, OKTC chain inscriptions and Dapp transactions are still being optimized
OKX said on the X platform that the inscription activities on the OKTC chain are frequent, which temporarily affects the OKX Web3 wallet service. The wallet asset display and transaction service problems caused by the current situation have been restored to normal. User assets on the chain are not affected in any way. However, the inscriptions on the OKTC chain and the external third-party Dapp transaction services are still being optimized and will be suspended.
Google to update cryptocurrency advertising policy in January
Google announced that in January 2024, Google will update its cryptocurrency and related product policies. Starting January 29, 2024, advertisers that provide Cryptocurrency Coin Trust targeting ads in the United States will need to obtain certification and meet Google's specific requirements. At the same time, the updated policy is not limited to the United States, but will apply to all accounts promoting cryptocurrency trusts worldwide. In the face of violations, Google will issue a warning to violators at least 7 days in advance, and if they are not enforced, the account may face suspension.
MetaMask reaches cooperation with payment platforms in six countries including Vietnam and Thailand
MetaMask said on the X platform that it has reached cooperation with payment platforms in six countries, including Vietnam (VietQR and Mobile Money), the Philippines (GCash), Indonesia (QRIS), Thailand (Thai QR), Egypt (Vodafone Cash) and Chile (Webpay). In addition, the MetaMask wallet service currently supports local transfers in four countries, Vietnam, Malaysia, Japan and South Korea. Users in relevant countries can use it on the MetaMask mobile application, browser extension and directly on the MetaMask Portfolio.
Important data
The third largest individual MKR holder redeemed 35,000 ETH from Lido in the past day
According to on-chain analyst @ai_9684xtpa, in the past 24 hours, the MKR whale withdrew 35,000 ETH (worth $82.63 million) from the Lido staking agreement and then deposited it into the DSProxy contract for unknown purposes. The whale has assets of $620 million and currently holds 28,000 MKR, ranking third among individual MKR holders, with an average cost of $689 and a current floating profit of $21.33 million.
Data: Galaxy deposited 3,000 ETH into OKX about 6 hours ago
According to The Data Nerd, Galaxy deposited 3,000 ETH (about $7 million) into OKX 6 hours ago. In the past 7 days, Galaxy has deposited a total of 20,237 ETH (about $46.88 million) into the exchange.
