Do Kwon's Company 📉💥
In today’s edition: 🚨 66K users' data exposed, 🚀 Solana's stablecoin surge, 🎮 Notcoin's player boom, 💸 GBTC's impact on BTC, and more!
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What’s Poppin’?
by Sam Sriram, Brandy Betz and Sage Young
Terraform Labs Files for Chapter 11 Bankruptcy in the US
The company behind the collapsed TerraUSD (UST) stablecoin has filed for bankruptcy protection in the US, listing both its assets and liabilities in the range of $100 million to $500 million.
Solana Stablecoin Transfer Volume Hits Record $300 Billion in January
Blockchain data shows that stablecoin transfer volume on Solana this month stands at $316 billion, marking a 2,500% increase from the same period last year.
Hardware Wallet Firm Trezor Says 66,000 Users Impacted by ‘Security Incident’
Trezor is investigating a security incident that took place on Jan. 17, where 66,000 users may have had their contact details exposed.
Notcoin, a Free Telegram Game Based on the TON Blockchain, Surges in Popularity
Notcoin has seen its total players more than triple from 5.1 million to over 17.2 million, with roughly four million daily active users.
GBTC Outflows Send Bitcoin Price Down 13% Despite ETF Market Growth
The price of BTC has fallen since Jan. 11 — the day the conversion of Grayscale Bitcoin Trust to an ETF allowed long-term investors to sell — dampening the massive inflows from last week’s successful debut of 10 other spot Bitcoin ETFs.
Daily Bits…✍️✍️✍️
🔎 A U.S. court ordered an independent examiner for the FTX case, overturning a previous decision against it.
🔄 The SEC opened a public comment period on a proposal for options trading on BlackRock’s spot bitcoin ETF.
📊 Since the launch of spot Bitcoin ETFs in the U.S., the daily trading volume of ProShares Bitcoin Strategy ETF has decreased by 75%, shifting market focus to spot ETFs.
💻 Manta Network faced a DDoS attack during the launch of its MANTA token, leading to transaction delays and increased gas fees.
🔒 Services on Justin Sun's HTX and the HTX DAO were quickly restored after a DDoS attack.
🙏 Denver pastor Eli Regalado, involved in an alleged crypto scam, claimed that a $300,000 home remodel was divinely inspired, amid legal scrutiny.
🚨 Blockfence uncovered a complex scam operation responsible for creating over 1,300 fraudulent crypto tokens since April 2023, stealing $32 million from more than 42,000 victims.
🚨 The CFTC charged Debiex with fraud, alleging the digital asset platform used a 'pig butchering' romance scam to defraud investors.
👨⚖️ Former IcomTech CEO Marco Ruiz Ochoa received a five-year prison sentence for his role in a crypto Ponzi-like scheme.
🤝 The 1inch DAO hired legal representation to protect its members, setting a precedent for DAOs seeking legal advice.
🎴 Former U.S. President Donald Trump resorted to Bitcoin Ordinals to promote his struggling NFT collection.
Today in Crypto Adoption...
🌏 Ondo Finance, specializing in tokenized securities, is expanding into the Asia-Pacific region, aiming to cater to the growing demand for U.S. asset exposure through tokenized products.
The $$$ Corner…
🌱 Root Protocol secured $10 million in seed funding, valuing the digital identity service at $100 million, with Animoca Brands leading the investment.
What Do You Meme?
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📈 Your Market Update 📉
BTC is down 2.4%, trading at $40,763
ETH is down 3.9%, trading at $2,377
BTC dominance: 47.75%
Crypto market cap: $1.68T
*All data as of today, 07:07 am ET. Source: CoinGecko
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