Daily Quotes (April 11, 2024 20:00)

ChainDD's market data on April 11 shows that the combined DD index and CoinMarketCap quotes are:

BTC was at $69,794.56, up about 2.00% in 24 hours;

ETH was at $3,504.38, up about 0.99% in 24 hours;

BNB was at $605.75, up about 2.92% in 24 hours;

DOGE was at $0.1919, up about 1.11% in 24 hours;

DOT was trading at $8.28, down about 0.06% in 24 hours.

Chain Circle Dynamics

HashKey Capital’s No. 9 license has been approved for upgrade by the Hong Kong Securities and Futures Commission and will be able to provide virtual asset fund product services to retail investors

HashKey Capital has officially obtained the Hong Kong Securities and Futures Commission (SFC)’s exemption of the qualified investor clause in HashKey Capital Limited’s existing asset management (No. 9) license.

As one of the first virtual asset management companies to obtain such a license upgrade, HashKey Capital Limited will be able to provide virtual asset-related fund product services to retail investors in the future (specific products are subject to final approval by the SFC).

Deng Chao, Head of HashKey Singapore and CEO of HashKey Capital, said, "This license upgrade demonstrates our firm commitment to regulatory compliance and protecting the rights of investors. This not only reflects our leading role in the industry, but also provides retail investors with an entry point to capture high-growth opportunities in the virtual asset market through a professional, credible and regulated platform."

Base TVL exceeds US$5 billion

L2BEAT data shows that Base TVL is currently US$5.37 billion, with a 7-day increase of 11.59%.

Cryptocurrency News

The total market value of stablecoins reached 154.176 billion US dollars

DefiLlama data shows that the total market value of stablecoins reached US$154.176 billion, of which USDT had a market value of US$107.22 billion, with a market share of 69.54%.

Bitcoin spot ETFs had a net inflow of $123.7 million yesterday, of which BlackRock IBIT had a net inflow of $33.3 million

According to Farside Investors monitoring, Bitcoin spot ETFs had a net inflow of US$123.7 million yesterday, of which BlackRock IBIT had a net inflow of US$33.3 million.

Jump helped Terra deal with UST de-anchoring incident, but was not accused of wrongdoing

Wall Street Journal (WSJ) reporter Alexander Osipovich wrote on the X platform that Jump Trading is an important supporter of Do Kwon's Terra/Luna project. The evidence disclosed by the SEC shows that Kwon has a close relationship with Jump Crypto President Kanav Kariya.

According to screenshots of Kanav’s chat with Kwon, Kanav insisted on using Signal to communicate (because the chat history can be deleted) and said that Jump was promoting this practice.

In 2020, Jump agreed to provide liquidity for UST and Luna, which was very important to Kwon. Kwon informed major investors in January 2020, adding that the news was "strictly confidential." In return, Jump received call options on Luna, which later became very profitable as the price of Luna soared.

However, in May 2021, UST broke its peg and fell below $1. James Hunsaker, a former Jump employee and current SEC whistleblower, later testified that Kanav said he had communicated with Kwon at the time. Jump then began actively trading to help UST restore its peg. Jump co-founder Bill DiSomma approved the risk of "spending hundreds of millions of dollars" to save UST, saying it was crucial to Jump's credibility in the cryptocurrency space.

At the time, Terraform Labs internally acknowledged Jump’s role in saving UST. However, in its external communications, Terraform Labs did not mention Jump’s role in helping to restore its token peg. The SEC believes that Terraform Labs’ failure to disclose Jump’s role was a major omission and constituted securities fraud. The jury agreed with this view.

Notably, Jump has not been accused of any wrongdoing. Nor have Kanav Kariya and Bill DiSomma. However, when the SEC subpoenaed them for evidence in the case against Terraform Labs, both men refused to testify, citing the Fifth Amendment to the U.S. Constitution, which provides for legal process to prevent abuse of government power.

Earlier news, Do Kwon was found responsible for civil fraud. It is reported that the SEC accused Terraform and Kwon in February 2023 for the collapse of the algorithmic stablecoin TerraUSD (UST).

Wall Street firms with a total asset management scale of US$15 billion have bought Bitcoin spot ETF shares in Q1

According to data disclosed by Bitcoin Magazine on the X platform, in the first quarter of this year, several Wall Street companies with a total asset management scale of US$15 billion bought shares of Bitcoin spot ETFs.

Montenegrin court again approves extradition of Do Kwon, case referred to Minister of Justice

The Montenegrin court once again approved the extradition of Do Kwon. The extradition decision will be made by the Minister of Justice, who has repeatedly hoped to extradite Do Kwon to the United States. Therefore, the possibility of Do Kwon being extradited to the United States has further increased.

The High Court in Podgorica, Montenegro, decided on Tuesday to extradite Do Kwon, saying that the legal requirements for his extradition to South Korea and the United States had been met, said Marija Rakovic, head of public relations at the High Court in Podgorica.

VanEck CEO: 90% of capital inflows into US Bitcoin spot ETFs come from retail investors rather than traditional investors

"I was surprised by the initial success of the U.S. Bitcoin spot ETF, but I don't think the main money is coming from traditional investors," said Jan van Eck, CEO of VanEck, in an interview at Paris Blockchain Week. "I still think 90% of the inflows into the Bitcoin spot ETF come from retail investors."

Voyager reached a settlement agreement of over $480 million with FTX, 3AC, etc., and the recovered funds accounted for about 25% of the total claims of creditors

Crypto lending platform Voyager Digital has reached agreements totaling $484.35 million through its bankruptcy settlement with FTX, 3AC, and Directors and Officers (D&O) insurance claims.

In a comprehensive report filed with the Federal Bankruptcy Court for the Southern District of New York on the recovery of assets and distribution to creditors following Voyager Digital’s financial collapse, Voyager Digital disclosed that the majority of the recovered funds (approximately $450 million) came from a settlement agreement with FTX.

The settlement, including interest, represents approximately 25% of Voyager creditors’ total claims and is expected to be paid soon.

Wintermute: There are a large number of untapped capital pools in the Bitcoin ecosystem, and related tokens may rise after halving

Bitcoin’s much-anticipated halving event later this month is likely to spark a surge in bets on the network and its ecosystem tokens, with traders expecting both technology and meme coin projects to rise.

Wintermute's OTC trading department said in this regard: "There are large untapped capital pools in the Bitcoin ecosystem that are still dormant, and it is surprising that there are so few online assets that traders can get exposure to." It added : “If capital starts to flow into the Bitcoin ecosystem, tokens like RUNE, STX, and ORDI could benefit significantly and outperform.”

Meanwhile, Bartosz Lipinski, founder of crypto trading platform Cube.Exchange, said in an email that Meme Coin and the upcoming Runes protocol could trigger high-risk bets in the Bitcoin ecosystem.