PA Daily | The founder of the ssv.network was drafted into the Israeli army, and Caroline Ellison said the SBF directed him to commit crimes

Today’s Highlights:

SSV.Network founder says he has been drafted into the Israeli army

Ho Yi responds to “freezing Hamas accounts”: Platform must cooperate with law enforcement requests, targeting Hamas only and not Palestine

Foreign media: Hamas-related wallets have received tens of millions of dollars in cryptocurrencies

Bloomberg: Brazil’s Congress proposes prosecution of four Binance executives, including Changpeng Zhao

U.S. prosecutors expect SBF trial to end as early as November 9, BlockFi to testify

Caroline Ellison: SBF directed her to commit a crime, she received a $20 million prize in 2021

Standard Chartered: Ethereum price may rise to $8,000 by the end of 2026

Oct. 13 is the SEC’s deadline to appeal the Grayscale/GBTC ruling

Regulatory News

Ho Yi responded to the “freezing of Hamas accounts”: The platform must cooperate with law enforcement requests and only target Hamas, not Palestine

He Yi, co-founder of Binance, responded to the “freezing of Hamas-related accounts”, saying: “Hamas is currently a terrorist organization defined by the United Nations, and any international organization, including any bank and trading platform, needs to cooperate in receiving inquiries and freezing, which is not decided by Binance itself.” I have no political position. But no trading platform can deny this law enforcement request; Palestine has a ruling government, and Hamas is a local group of armed forces that kill civilians; This is the problem, Hamas is not equal to Palestine. This freeze is directed against Hamas, not Palestine. ”

Later on, He Yi responded again that Binance will not freeze and confiscate the assets of any people, and international business institutions need to follow international law enforcement principles.

Bloomberg: Brazil’s Congress has recommended the prosecution of four Binance executives including Changpeng Zhao

According to Bloomberg, a committee of Brazil’s Congress recommended the prosecution of four senior Binance officials, including CEO Changpeng Zhao. The commission charged Changpeng Zhao and three local Binance executives with fraud management, issuing or trading securities without prior authorization, and operating financial institutions without authorization. The lawmakers also recommended that Brazil’s securities regulator (CVM) investigate Binance’s sale of derivatives. The committee, which consists of 28 representatives of the House of Commons, further recommended that the federal prosecutor’s office review the tax compliance of Binance’s local departments. It is reported that the committee has been investigating cryptocurrency-related Ponzi schemes in Brazil. It can only make recommendations, and the Brazilian police will decide whether to proceed with the actual prosecution.

October 13 is the deadline for the SEC to appeal the Grayscale/GBTC ruling

Fox Business reporter Eleanor Terrett warned on the X platform that the U.S. Securities Commission (SEC) must appeal the court’s ruling in the Grayscale/GBTC case by October 13. Terrett said the SEC has been suffering huge losses in crypto litigation, and the market is watching to see if the SEC will appeal the ruling in this case.

U.S. prosecutors expect the SBF trial to end as early as November 9, with BlockFi testifying soon

U.S. prosecutors told the court at the end of the trial of FTX founder Sam Bankman-Fried (SBF) on Tuesday that they expect Caroline Ellison’s testimony to continue throughout Wednesday, CoinDesk reported. Assistant U.S. prosecutors said that after completing direct questioning and cross-examination, the Justice Department expects to subpoena BlockFi co-founder Zac Prince and former Alameda software developer Christian Drappi. The names indicate that the Justice Department will continue to alternately call witnesses affected by the FTX crash and witnesses who know FTX and Alameda and internal operations.

The Prosecutor now expects to complete the trial in about four weeks, ending as early as 27 October. Assuming the defense makes its case, it is expected that another week and a half will take after that, which means that the trial could end as early as November 9 (November 10 is Veterans Day, and the court is adjourned).

Earlier today, SBF drafted a tweet two months before the FTX crash in preparation for shutting down Alameda.

Xuhui Court Precedent: Bitcoin entrusted wealth management contract is valid, and both parties can repay legal tender voluntarily

Liu Yang, a lawyer at Beijing DeHeng Law Firm, revealed on the WeChat public account that on the morning of October 9, a bitcoin entrusted financial management dispute was heard at the Xuhui District People’s Court in Shanghai, and the case was closed by mediation. The summary of the case is: The plaintiff entrusted the defendant to manage the money, and the defendant promised to guarantee the principal and interest, and then could not pay it. The defendant did not object to the above facts, and after the two parties voluntarily reached a mediation agreement, the court issued a mediation letter, the main contents of which were: 1. Repay the US dollar in installments. 2. If any payment is overdue, it can be enforced in full.

Lawyer Liu Yang believes that the mediation in this case has two important significances: First, since the case can be concluded in the form of mediation, it shows that the court believes that the bitcoin entrusted wealth management agreement is valid, and if it is invalid, the court has no right to mediate. Second, the financial management entrusted in this case is Bitcoin, and the repayment method confirmed by the mediation letter is US dollars (legal currency), which can also show that if the two parties agree to the content of the mediation, the court can confirm the civil dispute in which the subject matter is virtual digital currency to be repaid in legal currency, which is not equivalent to the court recognizing the exchange between virtual digital currency and legal currency, but only respecting the voluntary principle of mediation without violating laws and regulations, and is more conducive to the implementation of the next step. Therefore, in currency-related cases, it is feasible to claim that one party repay legal tender.

NFT

! [PA Daily | ssv.network founder drafted into Israeli army, Caroline Ellison says SBF directed him to commit crimes] (https://cdn-img.panewslab.com/panews/2023/10/11/images/46v3M7KJ7e.png)

Someone supported WikiLeaks founder Julian Assange by carving Afghan war logs on the Bitcoin Ordinals protocol

According to Bitcoin Magazine, an unknown “Project Spartacus” has been set up that seeks to immortalize classified information that the US government has long accused Julian Assange (founder of WikiLeaks) of illegally providing to journalists in his infamous Afghan war diary by inscribed on the Bitcoin Ordinals protocol. Given the nature of Bitcoin and its decentralized network of nodes, once this data is added to its blockchain, it is never deleted or altered. Some claim that Bitcoin Ordinals may well be the ultimate publishing tool that many people around the world have been looking for to combat censorship and tampering with information.

The Spartacus project’s website provides a public interface through which anyone can “write” — Ordinals jargon for adding data to Bitcoin — war logs. There doesn’t appear to be any cost associated with this operation other than web fees, and the page also features a “donate” button where donations will go to support the Press Freedom Foundation, the Right to Information Project, and Reporters Without Borders, among others.

Project Updates

The founder of ssv.network said he had been drafted into the Israeli army

Alon Muroch, founder of the Ethereum staking infrastructure ssv.network, tweeted: "I was drafted into the army, and the actual situation was much worse than described. Alon Muroch is reported to be Israeli. Recently, after the outbreak of the Palestinian-Israeli conflict, Israel recruited hundreds of thousands of reservists.

SSV. Network’s head of commerce then said: The team is operating normally, and the team members will be more united.

The Web3 Foundation will deploy more than $40 million next year to help drive Polkadot

The Web3 Foundation announced a new initiative on the X platform to reward teams and individuals who want to contribute to Polkadot’s success, deploying 20 million Swiss francs (about $22.08 million) and 5 million DOTS (about $19.3 million) for a total value of about $41.38 million throughout 2024.

The Web3 Foundation said it enhances Polkadot’s Treasury’s Community Governance Funding Facility to help projects that have a meaningful impact on Polkadot’s future, and will share more details on the official launch date and how to apply for funding in the coming weeks.

TeleportDAO will airdrop 20 million TST on CoinList as an ecosystem reward program

CoinList today announced TeleportDAO’s ecosystem reward program. TeleportDAO offers 2% of its token supply to eligible participants. Half (10,000,000 TST) of the 20 million TST (2%) in this reward program is reserved for TeleSwap participants and the other half for TeleOrdinal participants.

Wang Yang Zhu Haokang: The annual loss of Hong Kong’s licensed exchange OSL is tens of millions of yuan, and the focus to avoid “license killing” should be on RWA and stablecoins

Wang Yang and Zhu Haokang initiated policy recommendations: promote the tokenization of RWA in Hong Kong and establish a public chain and regulatory environment for RWA. Call on Hong Kong to launch a unified stablecoin, guided by the overall plan, issued by the concessionaire, and accompanied by a corresponding profit distribution plan.

Caroline Ellison: SBF directed her to commit a crime, and she received a $20 million prize in 2021

Caroline Ellison, former CEO of Alameda Research, said in court testimony that FTX founder SBF directed her to commit crimes. Alameda took billions of dollars from FTX customers and used them for its own investments and repaid lenders. Ellison also addressed Alameda’s borrowing of FTX client money. She said SBF said it “wants to use FTX funds, but leave the money on FTX” to meet customers’ withdrawal requests. A significant portion of these funds are used to grant loans to members of the SBF’s inner circle, and some are used for “investments and political donations.” Even after being named CEO of Alameda Research, Ellison reports to SBF and ultimately listens to SBF. SBF’s ambition is to become president of the United States, and he is “very interested” in politics and talks about wanting to use his money to exert political influence.

Ellison also testified in court that FTX and Alameda were originally run by the same team. Ellison said that in the early days of FTX, it was difficult for crypto exchanges to obtain bank accounts, and Alameda received funds from FTX customers in its bank accounts. This arrangement continued until 2022, when FTX customers were transferred to a separate bank account for FTX. Before FTX and Alameda’s collapse, SBF and Ellison had publicly stated that the two companies were completely independent and that Alameda had no privileges over FTX.

In addition, Ellison told the judge in court that she earned $200,000 a year and also received a $20 million bonus in 2021. The judge asked if she owned equity in Alameda, to which Ellison responded that no, but she owned 0.5 percent of FTX. She also said that the $2 billion in venture capital FTX Ventures launched in 2022 and the $600 million in the purchase of Robinhood shares came from Alameda. In the face of potential danger amid a market downturn, SBF still wants to continue its $3 billion venture investment. At the end of 2021, Alameda had borrowed approximately $9.4 billion from third parties.

Bitstamp will end its service to Canadian customers in January

According to The Block, crypto exchange Bitstamp will end its service in Canada on January 8 next year. Bobby Zagotta, Bitstamp U.S. CEO and Global Chief Commercial Officer, said in a statement: "After initial notification to customers in March, Bitstamp will officially cease to provide services to Canadian customers as of January 8, 2024. As a result, all Canadian accounts will be closed and customers will no longer have access to their accounts. Zagta urged clients to withdraw their funds by January next year.

Galxe: Full compensation will be made to all impaired users, with an additional 10% compensation

Galxe announced a compensation plan for the October 6, 2023 security incident. Any impaired users will receive full USDT compensation on Polygon, calculated at the value of 18:00 Beijing time on October 9. In addition, to thank users for their trust, the team will provide an additional 10% to users as compensation. Galxe previously said an estimated 1,120 users who interacted with the malicious website were affected and about $270,000 was stolen.

Bloomberg: Bitfinex owners offer to buy back $150 million in shares

According to Bloomberg, iFinex, owner of Hong Kong-based crypto exchange Bitfinex, has offered to buy back $150 million worth of shares to tighten control of the company. According to a document obtained by Bloomberg, iFinex contacted shareholders late last month and said it would buy back 15 million shares at a price of $10 per share. This represents approximately 9% of iFinex’s outstanding capital.

Decentralized stablecoin protocol Reserve is available on Base

According to The Block, the decentralized stablecoin protocol Reserve has gone live with Base, its first deployment outside the Ethereum mainnet. Users will be able to create an asset-backed token “RToken” on Base. The assets are backed by a basket of over-collateralized ERC-20 tokens. Reserve’s collateral options on Ethereum and Base include major stablecoins, Ethereum and wrapped bitcoin, which can be used alone or earn from protocols such as Compound, MakerDAO, Aave, Convex, Curve, Morpho and Flux Finance, according to the project.

The Uniswap Foundation requested $46.2 million from the DAO to support work over the next 2 years

The Uniswap Foundation launched a proposal for the remaining $46.2 million from last year’s initial financing to support work over the next 2 years, of which $28.33 million would go to grants and $13.6 million ($11.4 million and 508,000 UNIs) would go to operations, adding a 10% buffer to mitigate price volatility. Voting on the proposal will begin on October 12 in 2 days and last for 5 days.

Hamas-related wallets have received tens of millions of dollars in cryptocurrency

According to the Wall Street Journal, after reviewing the Israeli government’s seizure order and blockchain analysis report, it was found that Hamas, Palestinian Islamic Jihad (PIJ), and the Allah Party have raised significant amounts of money using cryptocurrencies over the past year. According to cryptocurrency research institute Elliptic, Israel believes that digital currency wallets related to PIJ received $93 million in cryptocurrency from August 2021 to June last year. Virtual currency analysis firm BitOK also determined that about $41 million flowed into Hamas-linked wallets during the same period, and so far has not confirmed whether the cryptocurrency they received was directly used to finance the Israeli attack. The amount of cryptocurrency confiscated from the wallet by Israeli authorities is also unknown. Researchers say this could represent only a fraction of the total amount of money flowing through them.

Stablecoin protocol Raft will release its first wave of airdrops at 8pm tonight, totaling 37.5 million RAFTs

Raft, a collateralized stablecoin protocol based on stETH, outlines the full eligibility criteria for the first wave of RAFT airdrops. 1.5% of the total RAFT supply (37,500,000 RAFT tokens) will be distributed. 604 wallets qualified for the first wave. The airdrop will start picking up on October 11, 2023 at 20:00 (Beijing time), and the snapshot will be taken on September 28, 2023 at 16:30 UTC (mainnet block: 18235432).

Crypto exchange WOO to buy back shares from 3AC to ‘remove uncertainty’

According to The block, cryptocurrency exchange WOO said today that it plans to buy back its own shares and tokens, which were previously acquired by Three Arrows Capital, to “remove uncertainty.” WOO has settled with Teneo, 3AC’s liquidator, to buy back shares and tokens acquired by the hedge fund in its November 2021 WOO Series A round. WOO added that it plans to proportionally increase ownership by all other shareholders, while the 20 million tokens repurchased (worth about $3.4 million) will be sent to the burn address. WOO declined to disclose the total value of the repurchased shares and tokens.

Binance will remove spot trading pairs such as DOT/GBP AND ENS/BUSD

Binance announced that it will delete and stop trading on the following spot trading pairs:

October 13, 2023 14:00 (Beijing time): BEL/BUSD、C98/BUSD、CTXC/BUSD、DAR/BUSD、DOT/GBP、ENS/BUSD、FIS/BUSD、FLUX/BUSD、ICX/BUSD、KDA/BUSD、LAZIO/BUSD、NEO/BUSD

October 13, 2023 15:00 (Beijing time) : OCEAN/BUSD, ONT/BUSD, PERP/BUSD, RSR/BNB, SFP/BUSD, STG/BUSD, SUPER/BUSD, TLM/BUSD, VIB/BUSD, WAVES /EUR, YFI/EUR, ZIL/BUSD.

Standard Chartered Bank: The price of Ethereum may rise to $8,000 by the end of 2026

Geoffrey Kendrick, head of FX and crypto research at Standard Chartered Bank, said in a new report that the price of ETH could reach $8,000 by the end of 2026, compared to the current price of around $1,600, The Block reported. “We believe that Ethereum’s dominance on smart contract platforms, as well as its emerging uses in gaming and tokenization, has the potential to push ETH to $8,000 by the end of 2026 (5 times the current price of $1,600),” he wrote. ”

Kendrick noted that Ethereum’s expected $8,000 mark is seen as the first step toward the bank’s previously proposed “long-term structural valuation” range ($26,000 to $35,000).

Financing News

RWA platform Untangled Finance closed a $13.5 million financing, led by Fasanara Capital

London-based asset manager Fasanara Capital led the round and opened two private tokenized credit pools on the platform. Untangled went live on the Celo network on Wednesday, bringing tokenized private credit to the blockchain.

Mining News

Five institutional investors recently bought Bitcoin Fawn stocks, totaling more than 510,000 shares

As of September 30, 2023, five new institutional investors have bought shares of Bitdeer (NASDAQ: BTDR), Wu Jihan’s mining company, totaling about 510,000 shares, according to Futu data. ETF issuer Exchange Traded Concepts, which currently holds 290,700 shares; ETF provider BetaShares Capital Limited, which currently holds 178,400 shares; American Teachers’ Retirement Foundation (TIAA), which currently holds 22,100 shares; Invesco Capital, which currently holds 20,400 shares; and Vanguard Navigator, which currently holds 927 shares.

Important Data

Stats: One whale deposited 12.16 million BLZ to Binance

Lookonchain monitoring shows that today, a whale wallet deposited 12.16 million BLZ ($1.45 million) to Binance at a loss, causing the price of BLZ to drop by about 14%. Currently, there are 3 whale wallets holding 134.5 million BLZ ($16.2 million, or 27% of the total supply).

Data: Wintermute Trading deposited 12 million OPs with Binance today

The Data Nerd monitoring shows that Wintermute Trading deposited 12 million OPs ($14.86 million) with Binance in the early hours of this morning, with an average price of $1.23.

Sun again raised 4458 ETH from HTX and pledged 4500 ETH to Lido

PANews news on October 11, according to Twitter user @ai_9684xtpa monitoring, ten minutes ago, Sun Yuchen from HTX (formerly Huobi) again proposed 4458 ETH (worth $7.1 million) to “0x9FC… c19Fe” address and staked 4500 ETH to Lido. The total amount of ETH staked by Justin Sun has reached nearly 290,000 ETH.

It is suspected that an institution deposited 33.9 million USDT into Kraken

PANews reported on October 11 that according to Lookonchain monitoring, it is suspected that an institution injected $33.9 million into the cryptocurrency market. 0x6A55 and 0x57B4 (probably subordinate to the same person) withdraw USDC from Circle and convert USDC to USDT, then deposit USDT into Kraken, for a total of 33.9 million USDT deposited into Kraken.

PANews APP Points Mall officially launched

Free redemption of hardcore prizes: imKeyPro hardware wallet, first-class warehouse research monthly card, Ballet REAL series wallet, AICoin members, various peripherals and hundreds of selected research report collections, first-come, first-served!

**PANews Launches Global LEAP Journey! **

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📥 In the process of co-construction of activities in many places, welcome to communicate!

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