According to on-chain analyst @ai_9684xtpa, the whale that bought ETH two weeks ago sold 6,000 ETH at the beginning of the market crash, keeping a profit of $610,000. The address bought 5,806 ETH between January 4 and January 6 at an average cost of $2,232 and chose to deposit all tokens to Binance when the short-term dip began at 15:30.
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Amazon MGM Studios is reportedly developing a film about the $4 billion Bitfinex Bitcoin heist, focusing on the lives and criminal activities of convicted crypto thieves Heather “Razzlekhan” Morgan and Ilya Lichtenstein. The untitled film is inspired by a 2022 New York Times article and will be directed by Hannah Marks and co-produced by Lili Reinhart. The plot centers around Morgan and Lichtenstein, who were charged with conspiracy in connection to the theft and subsequent money laundering operation. The film promises to offer a gripping narrative, shedding light on the intricate details of the cyber heist and the subsequent attempts to launder the stolen funds through a complex web of cryptocurrency transactions.
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According to Dune data, the cumulative fee income for the Bitcoin NFT protocol Ordinals' inscription casting is 5,849.3495 BTC, equivalent to approximately 231,426,989 US dollars. The total amount of inscriptions cast currently reaches 56,797,743 pieces.
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BitMEX co-founder Arthur Hayes compared the different impacts of the bank funding tools "buy-to-fail put" (BTFP) and "discount window" (DW). Under the BTFP mechanism, banks can use bonds worth $80 to obtain a $100 loan from the Federal Reserve Bank. In contrast, in the discount window operation, $80 in bonds can only be exchanged for an $80 loan.
Hayes pointed out that if the Federal Reserve does not take measures to reduce quantitative tightening or interest rates at the FOMC meeting in March, there may be a large-scale sell-off in the bond market, which could exacerbate losses on banks' hold-to-maturity (HTM) securities on their balance sheets. This will cause depositors to turn to money market funds (MMFs) for higher interest rates, putting pressure on banks to repay depositor funds. In this situation, without the support of the BTFP mechanism, banks can only rely on the discount window (DW) to obtain loans at market value, which decreases as bond prices fall, ultimately leading to bank bankruptcy due to the inability to make up for unrealized losses.
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BTC.com data shows that yesterday's Bitcoin network transaction fee was 49.84 BTC, a 3.4% decrease from the previous day's 51.62 BTC.
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MixMob, a Solana gaming platform, announced that its governance token MXM has been listed on X platform and is ready for trading on Bybit, KuCoin, Orca, and Raydium. In addition, MixMob also announced an upcoming MXM airdrop and is expected to launch iOS and Android mobile versions next month. They will also launch an esports league strategy and collaborate with industry professionals to enhance the visibility and practicality of MXM.
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German police temporarily seized 50,000 bitcoins worth $2.17 billion in a piracy law enforcement operation. This operation is reportedly the largest cryptocurrency seizure in the country's history. One of the two suspects voluntarily transferred the bitcoins to the Federal Criminal Police Office (BKA) in Germany. There are no formal charges against the suspects yet, but investigations into subsequent money laundering activities are still ongoing.
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The SEC has voted to adopt new rules that extend federal securities laws to cover the cryptocurrency and DeFi sectors, with an exemption for those with assets less than $50 million. The rules require individuals and entities engaged in transactions involving crypto assets that meet the definition of securities or government securities to comply with federal securities laws, and target market participants who engage in trading activities as part of a regular business. The adoption of these rules is part of a broader regulatory push to bring greater clarity and oversight to the cryptocurrency industry, but has sparked debate within the crypto community regarding the inclusion of DeFi. Despite industry objections, the SEC proceeded with the adoption of the rules, with Chairman Gary Gensler noting that they are "common sense" measures to protect investors and promote market integrity.
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CoW Protocol launched a proposal to adjust the rewards for computing nodes on Snapshot. The proposal suggests reducing the quote reward for each order from 9 COW to 6 COW and introducing a 0.0006 ETH upper limit for each quote reward. In addition, given the relative increase in COW price compared to ETH, the proposal suggests increasing the performance reward upper limit for each settlement from 0.01 ETH to 0.012 ETH to incentivize computing nodes to optimize execution efficiency.
The proposal adjusts the weekly budget for computing node competition from 306,307 COW to 250,000 COW, with a consistent reward absolute upper limit of 6 ETH. The total budget goal for weekly rewards is 300,000 COW and requests DAO to provide support of 8 million COW. This adjustment is expected to last for 6 months.
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US Southern District Court Judge Edgardo Ramos sentenced OneCoin lawyer Mark Scott to 10 years in prison for laundering millions of dollars through OneCoin. The lawyer was convicted of conspiracy to commit bank fraud and conspiracy to launder money in November 2019 and is currently awaiting sentencing. Prosecutors requested a minimum of 17 years imprisonment for Scott, while his legal team suggested only 5 years. It was reported that he expressed sympathy for OneCoin victims before his sentencing. According to reports, Scott's lawyers stated that they intend to apply for bail and await the sentencing decision appeal.
Scott worked with OneCoin to launder money under the guidance of "Cryptocurrency Queen" Ruja Ignatova. Ignatova co-founded the cryptocurrency company with Karl Sebastian Greenwood in 2014. Although Ignatova was involved in the OneCoin plan, she remains at large at the time of publication. In September 2023, Greenwood was sentenced to 20 years imprisonment for fraud and money laundering charges and ordered to pay $300 million in compensation to OneCoin victims. Former OneCoin Chief Compliance Officer Irinia Dilkinska admitted to two felony charges in November 2023 and is scheduled to be sentenced in February of this year. (Cointelegraph)
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Ava Labs has released detailed information about its expansion solution Vryx, which is part of the Avalanche plan aimed at achieving 100,000 TPS for the Avalanche blockchain. It is reported that the core idea behind Vryx is the concept of dividing the various parts of the transaction process and running them in a pipeline manner, which means that one transaction block may be being verified while the next block is already in development. It is reported that Vryx benchmark tests will be released in the coming weeks, and the expansion solution will be enabled on the first HyperSDK test network in the second quarter.
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Fren Pet, a Web3 social game built on the Base blockchain, announced that it has completed the final pGOLD airdrop for all pets and is fully focused on the first version of FP World.Previously, the cost of pet forging for the Web3 game Fren Pet is now 10$BTC #SEC他将与申请ETF的公司举行会议。

The initial hype around the experimental ERC-404 token standard has calmed down as the prices of tokens built using it have dropped over the last few days.
The original token built using the standard, called Pandora, saw a peak market cap of $324 million on Feb. 9. Since then, it has been cut in half to $150 million, with the price of each token falling below $BTC Other tokens built using the same standard didn’t pick up as much steam, with DeFrogs, the second biggest, only rising as high as $38 million in market cap. It has seen a 68% decline in price since its peak. Tokens Rug and Froggie Friends have largely declined in price since they launched.
The ERC-404 token standard is a novel combination of ERC-20 tokens and NFTs. One way to look at it is by seeing it as native fractionalization of NFTs. The core idea is when someone owns less than a whole NFT, the NFT disappears and the user only owns a fraction of a token. If they combine enough tokens to get a whole one, the NFT is returned to them — only it might be a different NFT.
It’s a weird and wacky mash-up, but one that has certainly found interest among the crypto community — largely since traders will jump on any trend early in case it grows to be much larger.
The ERC-404 token standard was built in a rush after the developers were rugged by a previous project that had claimed to provide the same functionality but failed to deliver. It has been criticized as inefficient when it comes to transaction fees. This was partly because the burning and re-minting of NFTs is expensive to do on the Ethereum mainnet, but also over claims the implementation itself was written in an inefficient way.
A rival implementation
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A group of developers is working on an alternative implementation of the same idea, which is set to be released imminently. The upcoming standard will be called “Divisible NFT,” shortened to DN-404, according to a pseudonymous developer known as cygaar.
“We’ve legitimately been working around the clock getting the DN404 (divisible NFT) code ready over the weekend,” cygaar posted on X.
After ERC-404 tokens picked up traction, there was a notable increase in transaction fees. Gaslite co-founder Pop Punk said this was the reason for the developers — who have experience in optimizing code to keep fees low — to make the new version.
The seven-day moving average transaction fee on the Ethereum mainnet rose to $11 over the weekend, having risen from $4 at the end of January, according to The Block’s Data Dashboard. Parsec Finance noted on X that the new wave of ERC-404 tokens was largely driving this increase in fees. By providing an alternative implementation with more efficient code, this could allow for more ERC-404 tokens without clogging up the network.

There has been some tension between the Pandora team and the group of developers working on the rival version. While there were some initial discussions between the two groups, they didn’t end up on the same page and are not working together. This means traders speculating on this new development will not only have to bet on whether it will take off but also on which version to support.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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According to on-chain analysis company Glassnode, after the approval of Bitcoin spot ETF, there has been a phenomenon in the market that is opposite to intuition, that is, the number of active addresses has dropped to a cycle low of 219,000 per day (slightly rebounded to 221,000 this week) despite the recent strong performance of Bitcoin prices. This means that although Bitcoin prices have risen, the growth of Bitcoin users has not kept up. Analysis suggests that this is mainly due to an increase in activities related to ordinal and inscriptions, and many participants are reusing Bitcoin addresses, thereby reducing the number of active addresses (not counted repeatedly).
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Blockchain investment company Sanctor Capital announced that its early Web3 investment fund has raised $10 million. It also announced a partnership with Press Star to launch a pre-acceleration program called "The Multiplayer Fellowship", with the goal of funding 100 teams in the next 18 months.
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According to the announcement issued by the US Department of Justice, Peter Kambolin, CEO of investment company Systematic Alpha Management LLC (SAM), has been sentenced to two years in prison and ordered to forfeit $1.6 million for implementing a "preferential plan" involving algorithmic trading strategies for cryptocurrency futures contracts in marketing. It is reported that Systematic Alpha Management LLC was established in 2007, and as of 2011, its assets under management exceeded $720 million. From January 2019 to November 2021, Kambolin, who was then a commodity trading advisor and commodity pool operator, participated in a "preferential plan" and fraudulently allocated profits and losses from futures trading for his own benefit.
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BTC.com data shows that yesterday's Bitcoin network transaction fee was 65.75 BTC, an increase of 15.04% compared to the previous day (57.15 BTC).
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Gevulot, a zero-knowledge proof blockchain project, completed a $6 million seed round of financing. Variant led the round, with participation from RockawayX, Volt Capital, Stake Facilities, Polygon Labs CEO Marc Boiron, and Manta Network founder Shumo Chu, among other individual investors. The funding will be used for the launch of its Layer 1 blockchain, which enables developers to utilize ZK proofs and delegate computation tasks to an advanced hardware operator network.
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MetaMask, the popular crypto wallet application, has partnered with Consensys Staking to run Ethereum validator nodes on behalf of users willing to stake at least 32 eth, a current value of about $BTC Following its transition from a proof-of-work network to a proof-of-stake network in the September 2022 known as ‘The Merge,’ Ethereum’s network is now secured by such validators. Many staking providers allow users to pool smaller amounts of funds together to hit the 32 eth requirement to run one validator, splitting the rewards.
MetaMask’s new staking offering, however, promises no pooling and no hardware or software requirements. Rather, the 32 eth stake is used to run a validator node through the Consensys Staking service, which already operates validators totaling about 4% of all staked eth.
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MetaMask currently promises about 4% annual yield on the rewards, before taking a 10% fee, though the company notes that this yield may increase or decrease due to the inherently random chance of any given validator’s block being selected to add to the network.
MetaMask also offers pooled staking through popular providers Lido and RocketPool, though the advertised rewards are currently lower at 3.53% and 3.14%, respectively.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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South Korean blockchain technology firm Ozys has accused its former chief information security officer (CISO) of weakening the company's firewall settings, which allegedly led to an $81.5 million heist on the Orbit Bridge cross-chain protocol. Ozys claims the former CISO made unauthorized changes to the firewall just two days after resigning, and the changes went unnoticed until January 10. Ozys has taken legal action against the former CISO and sought a police investigation into their potential involvement in the hack, and is also reinforcing its security measures with the help of cybersecurity firm Theori and other agencies.
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