Today’s news tips:
The National Tax Service of South Korea plans to build a comprehensive management system for virtual assets to prevent tax evasion on virtual assets
London Stock Exchange: Will accept applications for Bitcoin and Ethereum ETNs in Q2 this year
Musk: xAI will open source Grok this week
Binance will list Metis (METIS) and add a seed tag to it
Unibot announces termination of cooperation with its Solana team
Indian crypto investment platform Mudrex now offers investors a U.S. Bitcoin spot ETF
Bitcoin breaks through $71,000 and Ethereum breaks through $4,000, setting new all-time highs
Data: $2.63 billion worth of tokens to be unlocked this week
regulatory news
The National Tax Service of South Korea plans to build a comprehensive management system for virtual assets to prevent tax evasion on virtual assets
The National Tax Service of South Korea plans to build a “comprehensive virtual asset management system.” The system is designed to effectively analyze and manage the information collected based on the mandatory submission of virtual asset transaction details. Previously, the National Tax Service selected GTIC as the lead company for the virtual asset comprehensive management system ISP project at the end of February and began a consulting project that lasted about four months. Based on the results of the consultation, a request for proposals has been issued to build the system, which is scheduled to open in 2025.
Due to the anonymity and decentralization of virtual assets, illegal transactions such as money laundering, abnormal inheritance gifts, and offshore tax evasion are increasing, so a response system is needed, so the project is advancing. At the same time, with the modification of corporate tax law and income tax law, virtual asset business operators need to submit transaction information, but there is no system to analyze and manage it. Therefore, the National Tax Service plans to prevent tax evasion on virtual assets and achieve fair taxation by establishing a comprehensive virtual asset management system.
London Stock Exchange: Will accept applications for Bitcoin and Ethereum ETNs in the second quarter of 2024
According to King Ten, the London Stock Exchange will accept applications for Bitcoin and Ethereum ETNs in the second quarter of 2024.
Note: ETN is the abbreviation of "Exchange Traded Note" and is an exchange-listed product known as "exchange bonds" or "index-linked securities". Like ETFs (Exchange Traded Funds), ETN prices track "specific indicators" such as stock price indexes and product prices. The difference is that the word Note (bond) indicates that ETN is a bond in which a financial institution (issuer) commits its price to track a specific indicator based on its creditworthiness. Therefore, the difference between ETN and ETF is that it does not hold (no need to hold) the corresponding assets.
AI
Musk: xAI will open source Grok this week
Musk said on the X platform that this week he will open source the chat robot product Grok launched by his company xAI.
Project news
Arbitrum DAO withdraws proposal to donate million dollars to Tornado Cash developers due to legal issues
ArbitrumDAO proposed donating up to $1.28 million in cryptocurrency to criminal charges against Tornado Cash developers Roman Storm and Alexey Pertsev, but the proposal has been removed by the author as token holders expressed doubts about whether such a donation would bring concerns about legal risks. It's unclear exactly when the post was removed, but the Arbitrum community on X seems to have gone largely unnoticed.
According to previous news, a new proposal from the Arbitrum community proposes to "fund the legal defense of Tornado Cash developers."
Dogwifhat community user aims to raise $650,000 to run ads on the Las Vegas Sphere for a week
Users of the Solana meme token dogwifhat (WIF) community have launched a new initiative to raise $650,000 for a week of advertising on the Las Vegas Sphere. The initiative has raised more than $257,000 so far, with many donations ranging from $1 to $100, although two wallets donated $9,999, the highest amount donated in a single transaction so far.
Jupiter: The first LFG vote has ended, Zeus Network and SharkyFi become the first launch projects
Jupiter said on the Voters will all receive active staking rewards (ASRs) weighted by their voting power.
zkLink has announced its ecosystem developer funding program
According to the official blog, the cross-chain transaction infrastructure zkLink ecosystem developer funding program has been announced. zkLink will allocate 2% of the total token supply (20 million ZKL) to drive innovation. The application period for the first phase (P1) is from March 11, 2024 to June 11, 2024, and successful applicants will be notified no later than June 15, 2024. Funding application results will be announced at the end of each quarter.
Binance will list Metis (METIS) and add a seed tag to it
According to an official announcement, Binance will list Metis (METIS) with a seed tag. Binance will tentatively list Metis (METIS) at 20:00 on March 11 (Eastern Eighth District time), and open the following spot trading pairs: METIS/BTC, METIS/USDT, METIS/FDUSD, and METIS/TRY. The recharge channel is now open, and withdrawals are expected to be open at 20:00 on March 12 (East Eighth District time).
Unibot announced the end of cooperation with its Solana team, saying that there is no guarantee that funds in Unibot Solana’s robots are safe
Telegram Bot project Unibot announced the end of cooperation with its Solana team and asked it to change its name. The reasons include the Solana team launching the "evm_unibot" robot without permission, violating trust; refusing to conduct KYC; and failing to fulfill its financial commitments to the Unibot core team and holders. Unibot also said there were too many red flags to guarantee that funds were safe in Unibot Solana’s robot.
Unibot also announced the launch of front-end Unisol X. Additionally, with its V2 TG bot, any EVM chain can be enabled almost immediately, so additional layer 2s are currently being investigated. Blast is currently under discussion and plans to meet with the team at some time to discuss it.
Indian crypto investment platform Mudrex now offers investors a U.S. Bitcoin spot ETF
Indian cryptocurrency investment platform Mudrex now offers a U.S. Bitcoin spot exchange-traded fund (ETF) to Indian investors, CoinDesk reports. Mudrex will initially list four spot ETFs - BlackRock, Fidelity, Franklin Templeton and Vanguard.
important data
Circle issued an additional 250 million USDC on the Solana network today
According to Whale Alert monitoring, around 06:06 Beijing time today, Circle minted 250 million USDC on the Solana network.
Data: $2.63 billion worth of tokens to be unlocked this week
Token Unlocks data shows that tokens such as ARB, APT and APE will be unlocked this week, with a total release value of US$2.63 billion. in:
Arbitrum (ARB) will unlock 1.11 billion tokens at 9pm on March 16, worth approximately $2.32 billion, accounting for 76.62% of the circulating supply;
Aptos (APT) will unlock 24.84 million tokens at 6 a.m. on March 13, worth approximately $329 million, accounting for 6.73% of the circulating supply;
ApeCoin (APE) will unlock 15.6 million tokens at 8 a.m. on March 17, worth approximately $35.57 million, accounting for 2.55% of the circulating supply.
CyberConnect (CYBER) will unlock 886,000 tokens at 6 p.m. on March 15, worth approximately $10.51 million, accounting for 5.98% of the circulating supply.
Flow (FLOW) will unlock 2.6 million tokens at 8 a.m. on March 16, worth approximately $3.62 million, accounting for 0.17% of the circulating supply.
Moonbeam (GLMR) will unlock 3.04 million tokens at 8 a.m. March 16, worth approximately $1.49 million, accounting for 0.36% of the circulating supply.
Euler (EUL) will unlock 86,900 tokens at 7:34 pm on March 14th, worth approximately $591,000, accounting for 0.47% of the circulating supply.
Dormant Bitcoin Wallet for Nearly 8 Years Moves $163 Million Worth of Bitcoin
As Bitcoin stabilized above the $69,000 mark, a group of 80 dormant Bitcoin wallets (inactive for more than eight years) suddenly jumped into action, moving 2,352.62 Bitcoins, News.bitcoin reported. Most of the Bitcoin came from wallets created in August, September, October, November and December 2015.
Approximately 57,000 victims were deceived by phishing in February, resulting in a total loss of approximately US$47 million.
According to ScamSniffer, approximately 57,000 victims lost approximately $47 million to phishing scams in February. The number of victims who lost more than $1 million decreased by 75% compared to January. Among them, the Ethereum mainnet accounts for 78%. The stolen assets were mainly ERC20 tokens, accounting for 86%. The majority of all ERC20 tokens stolen are due to signing of phishing signatures such as Permit, IncreaseAllowance and Uniswap Permit2. Most victims are lured to phishing sites through phishing comments impersonating Twitter accounts.
Liquidity provider B2C2 Group moves to Robinhood after withdrawing 400 billion SHIB from Coinbase and OKX
According to Scopescan monitoring, liquidity provider B2C2 Group transferred approximately $13 million to Robinhood after withdrawing 400 billion SHIB from Coinbase and OKX. Robinhood currently holds 39 trillion SHIB ($1.25 billion), its third largest position.
Market: Bitcoin breaks through $71,000, hitting another all-time high
The market situation shows that Bitcoin exceeded US$71,000 and is now trading at US$71,047, up 2.97% in 24 hours, setting another record high.
Market: Ethereum breaks through $4,000
The market situation shows that Ethereum exceeded US$4,000 and is now trading at US$3,999.1, a 24-hour increase of 3.15%.
Bitcoin surpasses silver to become eighth-largest asset in the world by market capitalization
According to companiesmarketcap, Bitcoin’s market capitalization has risen to $1.398 trillion, surpassing silver ($1.379 trillion) to become the eighth-largest asset in the world by market capitalization.
South Korea’s cryptocurrency trading volume on Sunday exceeded Friday’s stock market trading volume, reaching nearly 12 trillion won
According to CoinDesk, South Korea’s local cryptocurrency trading volume on Sunday exceeded the local stock market trading volume on Friday due to the rise in Bitcoin prices. South Korea’s cryptocurrency exchanges recorded 11.8 trillion won (approximately $9 billion) in trading volume on Sunday, surpassing the stock market’s 11.47 trillion won (approximately $8.7 billion) on Friday. 11.8 trillion won is the total transaction volume of the five largest won markets in South Korea, including Upbit (8.8 trillion won), Bithumb (2.7 trillion won), and Coinone (176.4 billion won).
ARK Invest sold nearly $150 million in Coinbase shares last week
According to CoinDesk, ARK Invest sold more than 580,000 COIN shares last week, worth $149.85 million based on Friday’s closing price. This is ARK’s largest reduction in Coinbase stock since the week of February 16. ARK Invest targets individual holdings of no more than 10% of ETF value weighting, so a sell-off of this magnitude is necessary when asset values surge.
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