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Lifeform Token Airdrop Commences, 10 Million LFT to be Distributed in OKX Web3 Wallet's Cryptopedia

According to official sources, OKX Web3 Wallets Cryptopedia Issue 5 has officially commenced. This edition features a total of five DApp interactive tasks, including OKX DEX, OKX NFT, OKX DeFi, OKX Discover, and Lifeform. Users can receive NFT rewards by completing and verifying each of these DApp interactive tasks.　　Moreover, participants who complete all five DApp interactive tasks will have a chance to share a prize pool of $300,000, with the highest reward per address reaching $2,000 in tokens. It is important to note that this event offers exclusive benefits to early users of Lifeform, granting them the unique opportunity to receive the first round of LFT airdrops. Early users of Lifeform can claim their airdrop box NFT without the need for interactions. Once Lifeform is listed on exchanges, the tokens will be automatically airdropped.　　Lifeform is a decentralized Visual Digital Identity (DID) project. Cryptopedia is an all-in-one DApp exploration, learning, and rewarding platform that regularly launches activities based on different blockchain networks in collaboration with respective partners to set up DApp interactive tasks. The platform aims to discover and aggregate potential projects, reduce the entry barriers to Web3, and minimize user search costs, enabling users to interact accurately even in their

2023-08-03Deep Dive

Robinhood’s Crypto Revenue Declines 18% In Q2 Amidst Fewer Trades

Robinhoods Q2 crypto revenue dropped 18% to $31 million due to reduced customer trades.　　Despite the decline, Robinhood reported a net income of $25 million, a significant improvement from the previous quarters loss.　　The company plans to introduce a non-custodial wallet to offer customers greater control over their crypto assets.　　Revenue related to crypto activities fell to $31 million, down from $38 million in the previous quarter. This decline was accompanied by a 6% decrease in the number of customers placing crypto trades, while notional volumes per trader declined by 15%, according to supplementary data provided by the company.　　Nevertheless, Robinhood is continuing to explore opportunities within the crypto space. The firm has announced its plans to introduce a non-custodial wallet later this year, which would grant customers more control over their digital assets.　　Despite the dip in crypto-related revenue, Robinhood managed to exceed Wall Street estimates in its overall financial performance for the quarter. The company reported adjusted earnings of $0.03 per share, outperforming analysts‘ expectations of a $0.02 loss. Additionally, Robinhood’s total revenue of $486 million surpassed the estimated $472 million. However, the number of monthly active users fell short of estimates, with 10.8 million reported compared to the expected 11.7 million.　　Other transaction-based

2023-08-03Deep Dive

Binance May Be Accused Of Fraud, But DOJ Worried About Market Crisis

DOJ mulls fraud charges against Binance, fearing market collapse.　　Alternatives like fines and agreements are explored to protect consumers.　　Binance faces regulatory scrutiny amid market watchfulness.　　An indictment against Binance could lead to a similar scenario as seen last fall with FTX, where a run on deposits caused the exchange to crumble. To mitigate the risk of such a market upheaval, the DOJ is exploring alternative approaches, including imposing fines or entering into deferred or non-prosecution agreements with the exchange, as sources revealed.　　Binance has been under regulatory scrutiny in the United States for some time. The exchange faced a criminal probe for allegedly violating U.S. sanctions on Russia. Furthermore, it has been targeted by the U.S. Securities and Exchange Commission (SEC) for allegedly operating unlawfully and offering unregistered securities. The Commodity Futures Trading Commission (CFTC) has also accused the exchange and its CEO, Changpeng Zhao, of violating trading and derivatives regulations.　　In light of these ongoing legal concerns, some former SEC officials speculate that money laundering charges may be brought against Binance, further complicating the situation.　　The news of the potential DOJ charges has sparked concern within the cryptocurrency community, and Zhao has cautioned against spreading fear, uncertainty, and doubt (FUD) to manipulate the market.

2023-08-03Deep Dive

Binance enables $90 billion in banned crypto trades in China. China emerges as Binance’s top market,

Binance enables $90 billion in banned crypto trades in China.　　China emerges as Binances top market, accounting for 20% of global volume.　　Regulatory concerns surround Binances secretive operations in the country.　　The Wall Street Journal revealed this information, citing internal figures and accounts from both current and former employees of the exchange. Notably, cryptocurrency trading has been illegal in China since 2021, making this revelation all the more astonishing.　　According to the report, the transactions in China accounted for a significant 20% of Binances global trading volume, excluding trades made by a select group of large-scale traders. However, the exact month in which these transactions took place was not specified in the report.　　Binance has deep roots in China, where it was founded in 2017. The exchange represented mainland China until regulatory restrictions forced it to relocate its operations. Despite this move, China has remained the largest market for the exchange, followed by South Korea, Turkey, Vietnam, and the British Virgin Islands, as per documents examined by the Wall Street Journal.　　The exchanges activities in China have not gone unnoticed by regulators, both in the United States and China. The Commodity Futures Trading Commission (CFTC) sued Binance, alleging it operated an “illegal” exchange and had a

2023-08-03Deep Dive

CoinList to Launch Chainflip Token Sale on August 31st

CoinList announced that the Chainflip (FLIP) token sale will commence on August 31, 2023, at 17:00 UTC and registrations are now open. The total token supply is 4.5 million FLIP (ERC20), with each token priced at $1.83. During the mainnet launch, the tokens will be 100% unlocked. The estimated date for this mainnet launch is around October 24, 2023 (the date is subject to change within 120 days after the sale ends). The initial purchase limit is a minimum of $100 and a maximum of $4,000. Registrations will close on August 28, 2023, at 12:00 UTC.　　It is reported that Chainflip is a decentralized, trustless protocol that enables seamless value transfer between any blockchain, including BTC, EVM, and underlying networks.　　Earlier, Chainflip Labs announced the completion of a $10 million funding round, with participation from Framework Ventures, Blockchain Capital, and Pantera Capital, in exchange for equity in the company.　　

2023-08-02Deep Dive

MicroStrategy Plans to Offer up to $750 Million in Stocks for Purchasing Bitcoin and Other Corporate

According to the documents submitted by MicroStrategy to the U.S. Securities and Exchange Commission (SEC), the company plans to issue and sell up to $750 million worth of Class A common stock. The net proceeds from this offering will be used for general corporate purposes, which may include purchasing Bitcoin and funding operations. Additionally, the company may use the proceeds for share repurchases or to repay corporate debt, depending on market conditions.　　According to the latest financial report released by MicroStrategy on Tuesday, the company recorded a $24.1 million impairment expense on its holdings of Bitcoin in the second quarter. In the same period last year, the impairment expense was $917.8 million, and in the first quarter of this year, it was $18.9 million. The impairment of the companys digital assets reflects the decline in the value of Bitcoin relative to the acquisition cost of the Bitcoin.　　MicroStrategys Chief Financial Officer, Andrew Kang, stated in a declaration, “As of July 31, 2023, our holdings of Bitcoin have increased to 152,800 coins, with an additional 12,333 coins acquired in the second quarter of this year, marking the largest quarterly increase since the second quarter of 2021. We effectively raised funds through our market

2023-08-02Deep Dive

Justin Sun：Huobi Records $85 Million Profit in Q2, Conservatively Forecasts $200 Million Revenue for

TRON founder and member of Huobi Global Advisory Committee, Justin Sun, tweeted that the actual revenue for the second quarter was $193 million, with expenses amounting to $108 million, resulting in a quarterly profit of $85 million. This represents a significant 183% increase in profit compared to the $30 million profit in the first quarter, demonstrating the effectiveness of the groups measures to increase revenue and reduce costs.　　Furthermore, Sun Yuchen conservatively forecasts that the revenue for the third quarter will reach $200 million, with expenses totaling $100 million, resulting in a quarterly profit of $100 million. (These figures exclude investment-related gains and losses).　　Earlier, according to Bloomberg, Sun Yuchen spent approximately $1 billion to acquire about 60% of Huobis equity through the Hong Kong asset management company About Capital. Additionally, Sequoia China and ZhenFund collectively sold about 28% of their shares in Huobi to About Capital.　　

2023-08-02Deep Dive

Ukraine’s Crypto Industry Under Scrutiny: NBU’s Bold Demands

Ukrainian National Bank demands financial statements from local crypto companies.　　Kuna exchange leaves the Ukrainian market due to NBUs actions, facing significant volume reduction.　　IRS collaborates with Ukraine to tackle crypto-related sanctions evasion.　　The National Bank of Ukraine (NBU) has specifically targeted four local crypto companies – Kuna, CoinPay, GEO Pay, and Qmall – demanding their financial statements for the first two quarters of 2023. The NBU set a tight deadline, requiring cryptocurrency businesses to submit their financials within just seven days.　　The revelation of this request came to light through Michael Chobanyan, the founder and CEO of Kuna exchange, who shared the news on July 3. He referred to a document distributed by the Ukrainian Telegram news channel, Politics of the Country, which contained the NBUs demands.　　In addition to financial statements, the NBU also seeks data on the operating volumes of these crypto companies, along with detailed information regarding the receipt and transfer of funds. Furthermore, Ukrainian cryptocurrency firms are required to provide statements for all accounts dating back to the beginning of 2023.　　Chobanyan confirmed the NBU‘s action through his own Telegram channel, expressing uncertainty about the reasons behind the latest move. He noted that such information had never been requested in Ukraine

2023-08-02Deep Dive

Giant Whale Deposits 200,000 UNIs into OKX, Skyrocketing Crypto Excitement!

stevu.eth whale address deposits 200,000 UNIs (approx. $1.29 million) into OKX, aiming for profits.　　Previous withdrawal of 500,545 UNI (approx. $2.46 million) from OKX yields $764,000 profit.　　“stevu.eth” currently holds 300,545 UNI (approx. $1.94 million), wields significant market influence.　　The move comes after “stevu.eth” previously withdrew 500,545 UNI (around $2.46 million) from OKX on June 29, fetching a profit of about $764,000. At present, the whale holds 300,545 UNI, valued at approximately 1.94 million USD.　　The cryptocurrency community is closely observing the activities of “stevu.eth,” a colossal whale address on the chain. As per Lookonchain monitoring, the address made a noteworthy deposit of 200,000 UNIs into OKX, signifying the whales pursuit of profitable opportunities.　　This sizeable deposit comes in the wake of a significant withdrawal made by “stevu.eth” on June 29, wherein they withdrew a staggering 500,545 UNI from OKX, valued at approximately $2.46 million during that time. Notably, the UNI price stood at $4.92 during the withdrawal transaction.　　Calculations based on current market prices reveal that “stevu.eth” has reaped profits of over $764,000 from their earlier withdrawal. Such impressive returns reflect the astute decision-making and trading expertise of this prominent whale address.　　At present, “stevu.eth” holds a considerable sum of 300,545 UNI, estimated to be worth

2023-08-02Deep Dive

Justin Sun Takes Out 52.5 Million Stablecoins from Aave

Crypto Entrepreneur Justin Sun withdraws ~52.5M stablecoins from AAVE, comprising ~40.7M USDT & ~11.7M USDC.　　The sizable withdrawal sparks speculation about Suns intentions and potential impacts on the crypto market.　　Stablecoins withdrawal presents new investment opportunities outside AAVE, shaping market dynamics.　　Justin Sun is no stranger to the crypto world. Known for his bold decisions and ventures, he has always been in the spotlight. Now, with this massive withdrawal from AAVE, Sun has once again caught the attention of investors and enthusiasts.　　The withdrawal comes at a time when the crypto market is experiencing fluctuations and uncertainties, making it all the more significant. Stablecoins like USDT and USDC are pegged to the value of fiat currencies, providing a sense of stability amidst the volatile nature of cryptocurrencies.　　The move has sparked discussions within the crypto community about Suns intentions behind the withdrawal. Some speculate that he might be diversifying his holdings, while others believe it could be a strategic move to deploy the stablecoins elsewhere.　　AAVE allows users to lend, borrow, and earn interest on cryptocurrencies. Its popularity has grown exponentially, making it a preferred choice for many crypto investors. Suns decision to withdraw such a substantial amount of stablecoins from AAVE has left many wondering

2023-08-02Deep Dive
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