KingData content selection
KingData platform is exposed to a lot of quality contents every day. This indicator aims to gather and extract the most valuable data from these contents, and broadcast them here. (Do your own research. It's not a financial advice.)
OKBC will be launched on time in Q1, OKBC is positioned as a #Layer2 network of Ethereum, and it is ready to build the network from the following three steps: OKB Chain V1: Ethereum PoA sidechain, focusing on providing high performance and low transaction fees OKB Chain V2: Ethereum's native ZK Rollup platform, improving scalability and efficiency OKB Chain V3: Get through the cross-chain communication between ZK Rollups
Silvergate Capital announced on Wednesday that it will close operations and voluntarily liquidate Silvergate Bank. Silvergate Capital Corporation, the holding company of crypto bank Silvergate Bank, plans to wind up the bank's operations in an orderly manner and in accordance with applicable regulatory procedures and enter into voluntary liquidation. The stock fell 40% short-term after hours. Silvergate said an orderly winding down of banking and voluntary liquidation of banks was the "best way forward". The bank's wind-up and liquidation plan includes full repayment of all deposits. The company is also considering how best to resolve the claim and preserve the residual value of its assets, including its know-how and tax assets. Additionally, Silvergate Bank has decided to finally discontinue the Silvergate Exchange Network (SEN). In addition, market sources indicated that the California Department of Financial Protection and Innovation (DFPI) was involved in the liquidation of Silvergate.
You can also follow KingData’s monitoring and early warning in real time on Twitter. Two new Twitter accounts [Chinese/English] have just been launched, which will broadcast our selected latest early warning signals in real time. Everyone is welcome to pay attention. Chinese：https://twitter.com/KingdataAlertCn English：https://twitter.com/kingdata_alert
KingData has added [Token unlocking data monitoring] indicator. The unlocking of different role holders of each Token has a very strong relationship with the price of the Token. This indicator is more convenient for us to understand the circulation of related Tokens. In the Web3 project economic model, many Tokens are locked in different conditions, and gradually unlocked and flow into the market as time goes by. The unlocking of Token means that the liquid assets of the Token increase, which often has a great impact on the price. This indicator monitors and broadcasts Token data about to be unlocked in real time. It is convenient for users to pay attention to market fluctuations in advance. According to this indicator, next week [March 12], 4.54M APT ($60.25M) will be unlocked. 0.5% of the total supply. Indicator link: https://kingdata.com/cn/indicators/3251
The ETH Shanghai upgrade is coming soon. In order to better understand the industry changes brought about by the upgrade, KingData has added three ETH 2.0 monitoring indicators. The three indicators are: Name: ETH 2.0 Network Gas Fee Monitoring Description: This indicator monitors the abnormal situation of the ETH network Gas fee in real time and broadcasts the abnormal data in time. Which protocols have caused these exceptions. Link: https://kingdata.com/cn/indicators/2095 Name: Monitoring of Total Staked ETH in ETH 2.0 Introduction: This indicator broadcasts daily changes in the total amount of staked ETH in ETH 2.0 and changes in the ratio of the staked amount to the total supply of ETH. Link: https://kingdata.com/cn/indicators/574 Name: ETH 2.0 Deflation and Inflation Monitoring Introduction: This indicator broadcasts the latest ETH supply, destruction, and deflation on a daily basis. Link: https://kingdata.com/cn/indicators/572 It is worth noting that: According to [ETH 2.0 Deflation and Inflation Monitoring] the latest monitoring shows that ETH has deflated for 52 consecutive days. The annualized growth rate of ETH yesterday was -0.2736%. Since the merger of ETH 2.0, the total amount of ETH has decreased by 40,000 pieces. The current total supply of ETH is 120.48M. According to [Monitoring of the total amount of ETH staked in ETH 2.0] the latest monitoring shows that the total amount of ETH staked in ETH 2.0 has been rising in a straight line, and currently an average of 20,000-50,000 ETHs are added to staking every day. Yesterday, 51.6K ETH was newly staked, and the current total lock-up volume is 17.41M ETH, accounting for 14.58% of the total circulation.
KingData officially launched backtesting function
Due to the openness of Web3 data, each person will receive a large amount of data or news warnings every day, but the final impact of these warnings on the market is unknown. KingData focuses on Web3 (Crypto, DeFi, NFT, SmartMoney, etc.) blockchain data monitoring, and also issues a large number of data warnings every day. As a result, there is a strong demand for data backtesting. Data warning and backtesting refers to the regression comparison of the information we receive and the K-line associated with the information. In this way, we can easily know the impact of each data warning on the next market. In this way, we can help us accurately screen effective data or information. This function can serve the following scenarios: 1. Based on KingData's monitoring and early warning, the market price changes and alerts of a certain project are attributable 2. Based on the automatic classification module of KingData, quickly find out the projects with the most recent changes and the most worthy of attention 3. Carry out a market backtest for a specific indicator of KingData to confirm its effect 4. Based on the Tweets published by KOL, back-test its influence on the currency price Product experience: https://kingdata.com/cn/backtesting
Messari Founder Comments on Paxos Regulatory Crisis: Vows to End US SEC Chairman's Political Career
For the stablecoin issuer Paxos facing the US SEC lawsuit due to BUSD, Messari founder Ryan Selkis tweeted: "My new goal in life is to end the political career of Gary Gensler (chairman of the US Securities and Exchange Commission) and let him be re-elected by Biden. Why it failed. I’ll be joining Brian (Coinbase CEO Brian Armstrong), Jesse (Kraken founder Jesse Powell) and dozens of others who have spent a decade putting America in the driver’s seat to win the next major On the cutting edge of technology. I will spend every ounce of energy, financial and political capital I have on fighting the morally immoral and corrupt enemies of cryptocurrencies. Sensible regulation matters. De facto bans will be relentlessly fought." Selkis Said that he has been cautious for 15 years and has not made any remarks about deteriorating his relationship with the SEC, but this time he expressed his dissatisfaction with the SEC's behavior in dirty words
According to KingData monitoring, your KingData account has been recharged with some coins. Please open the KingData App within 7 days to claim it. To thank you for your support, KingData gave you some coins, a random airdrop of $38-$188 was carried out to all daily active users, with a total of $800,000 airdropped, and the received gold coins can be used to purchase VIP / VIP Pro accounts. I hope KingData can accompany you to meet wealth in 2023. One more thing to add, I heard that this is a random gift. The sooner you open the app, the greater the amount you will receive~
Be a good Web3 whistle blower, KingData officially launched the open platform of data monitoring
Why launch the data monitoring open platform, KingData said it aims to be a good Web3 whistle blower and build the richest data variation alert platform with the community. Nowadays, there is no shortage of good and professional data analysis platforms in the field of Web3 data, and various professional data API services have emerged. But because of the professionalism and fragmentation, the distance between these data and users is getting farther and farther. How to understand these professional data? How to quickly filter valuable data information from the sea of data and other problems plagued every user. However, the data is related to the safety of each user's money. At this time, a bridge is urgently needed between data and users, and this bridge is data monitoring. To build this bridge, we need more users to put forward their monitoring needs, more developers to complete the development of these monitoring needs, and more data service providers to provide basic data services. In order to better solve the relationship between developers, users and data service providers, KingData officially launched the Open Platform. Through KingData Open Platform, anyone can develop any monitoring logic for any data source. After the development of monitoring logic, it will serve all users in the industry. We also hope that through the next open platform, we can attract more developers to join in, tap more data value, and bring more monitoring services to industry users.
FTX Opposition to $1B Binance Deal Is 'Hypocrisy and Chutzpah,' Voyager Says
KingData News: Bankrupt crypto lender Voyager has defended its $1 billion plan to sell assets to Binance.US, calling criticisms “hypocrisy and chutzpah” based on unverified speculation, two legal filings posted late Sunday night show. Doubts expressed by the SEC, alongside financial regulators from New York, Texas and Vermont and the U.S. Trustee, the bankruptcy division of the DoJ, about whether Binance.US can afford the deal are “misplaced,” Voyager said. “Raising Disclosure Statement objections based on unsubstantiated and unverified media reports while ignoring the substantial information already made available to the Objectors is a naked attempt to undermine the Binance.US Transaction and attack Binance.US,” the filing added.
DCG became aware of FTX's insolvency last May and demanded that it pay back the $2.5 billion it owed
KingData News: Crypto KOL Andrew tweeted that DCG discovered in late May 2022 that FTX and Alameda were insolvent, and Barry and DCG began aggressively pressuring Alameda to repay the $2.5 billion loan owed to Genesis.
Genesis Trading addresses a total of $364 million in assets, with Alameda and 3AC as its largest counterparties
KingData News: On-chain analysis Lookonchain tweeted that Genesis Trading's 6 addresses currently hold $364 million in assets, including 219,749 ETH (~$274 million), 35 million USDC, 26,667 BNB ($6.8 million), 126,989 COMP ($4 million) ), 1 million APE ($4 million), 8.14 million SAND ($3.4 million), 2.9 million USDT, 2.65 million USDP, 40,448 AAVE ($2.2 million), 6.76 million MANA ($2.1 million), and 2 million BUSD, among others. Alameda Research and Three Arrows Capital (3AC) are the largest counterparties to Genesis. 7 billion.
Gemini Expected to Force Genesis Trading into Bankruptcy Proceedings Soon, Sources Say
KingData News: Twitter user Andrew tweeted, "Expect crypto exchange Gemini to force Genesis Trading into bankruptcy proceedings soon, and Genesis bankruptcy will trigger liquidation of DCG assets (based on redeemable loans) and DCG may go bankrupt with significant risk to Grayscale Trust assets."
Nansen Analyst: On-Chain Data Shows Binance’s Financials Are a ‘Black Box’
KingData News: Binance, the top cryptocurrency exchange by trading volume, may be “tremendously well capitalized,” but its financials are still “very much a black box,” said an analyst at data insights company Nansen. Andrew Thurman told CoinDesk TV’s “First Mover” that although the exchange has published that it holds $55 billion in customer deposits on-chain, “aside from that, we don’t have much on-chain or any kind of financial access or transparency into their entities.” Binance has come under the media microscope after a large sum of funds, amounting to roughly $6 billion, moved out of the exchange last week during a 24-hour period. Jump Trading, a prominent trading firm in the ecosystem, was among the largest entities that moved funds out of Binance, according to Nansen’s analysis.
Meta Could Face $11.8 Billion Fine As EU Charges Tech Giant With Breaching Antitrust Rules
KingData News: The European Union on Monday issued Facebook parent company Meta with a list of objections over of its online classifieds business, Facebook Marketplace. The European Commission, the EU’s executive arm, said that it found Meta breached EU antitrust rules by distorting competition in the markets for online classified ads. The Commission took issue with Meta’s pairing of the Facebook Marketplace service, which lets users list items for sale, with its personal social network, Facebook. For Meta, which made $117.92 billion in annual revenues in 2021, that could mean a penalty worth as much as $11.8 billion.
Auros bankruptcy protection filings show funds tied up on FTX
KingData News: Market making firm Auros filed to begin bankruptcy proceedings in the British Virgin Islands, court documents show. “A significant proportion of the Company’s assets” — worth roughly $20 million — were held on the FTX on Nov. 11, when FTX filed for Chapter 11 bankruptcy protection in the U.S., according to Auros. With those assets frozen, Auros was effectively rendered insolvent.
Former and Current CEOs of Terraform Labs Subsidiaries Have Assets Totaling $93 Million Frozen
KingData News: The Seoul South District Court in South Korea has accepted the prosecution's request to freeze the assets of three early investors in Terra and Luna and four key personnel in the development of the technology, including the 120 billion won assets (approximately $93 million) of the former and current CEOs of Terraform Labs' subsidiary, Kernel Labs. The seven people whose assets were frozen by the prosecution are accused of making huge profits from the sale of pre-release Luna, as well as allegedly forcing the issuance of cryptocurrencies without informing investors.
BlockFi Files Motion to Return Frozen Crypto to Wallet Users
KingData News: Bankrupt crypto lending platform BlockFi has filed a motion requesting authority from the United States Bankruptcy Court to allow its users to withdraw digital assets currently locked up in BlockFi Wallets. In a motion filed on Dec .19 with the U.S. Bankruptcy Court in the District of New Jersey, the lender asked the court for authority to honor client withdrawals from wallet accounts as of the platform’s pause on Nov. 10. The court documents also request permission to update the user interface to properly reflect transactions as of the platform’s pause. In a widely shared email sent to affected users, BlockFi called the motion an “important step toward our goal of returning assets to clients through our chapter 11 cases," adding “It is our belief that clients unambiguously own the digital assets in their BlockFi Wallet Accounts.”
Genesis failure would land owner with $350mn payout to financier Todd Boehly
KingData News: Digital Currency Group (DCG) is trying to raise money to avoid the bankruptcy of its subsidiary Genesis, in part to avoid immediate repayment of a loan from U.S. financier Todd Boehly, who raised a debt facility for DCG through his own investment group Eldridge last November that included a $600 million loan from Eldridge and a group of other investors, the Financial Times reported, citing sources. The $350 million still outstanding on the loan would be immediately due if Genesis goes bankrupt, and the senior secured term loan ranks higher than other debt and has a certain priority, meaning it would have to be repaid first in any event, people familiar with the matter said.
Bitcoin Addresses Tied to Defunct Canadian Crypto Exchange QuadrigaCX Wake Up
KingData News: More than 100 bitcoins tied to the defunct Canadian crypto exchange QuadrigaCX were transferred out of cold wallets thought to be beyond anyone’s control over the weekend, after sitting dormant for more than three years. The company's bankruptcy trustee, Ernst and Young, did not initiate the transfers, CoinDesk has learned. EY announced in February 2019 that it lost control of about 100 BTC after mistakenly sending the coins to Quadriga-operated cold wallets that the Big Four financial services firm said it couldn’t access. At the time, the bitcoin was worth around $355,000 (C$470,000). The bitcoin in these addresses remained frozen until last Friday, when the coins in all five addresses left between 6:52 p.m. ET and 7:14 p.m. ET.
Binance US Explores Buying Other Distressed Assets After Voyager
KingData News: Crypto exchange Binance.US is exploring more acquisition opportunities after agreeing to buy Voyager Digital’s assets out of bankruptcy in a deal valued $1.022 billion on Monday. “We are in the data room for many other assets that make sense as we focus on growth,” said Binance.US Chief Executive Officer Brian Shroder in an interview. “We are learning about the deals. We are also looking at several firms that are in trouble right now.”
Binance Officially Acquires Indonesian Crypto Trading Platform Tokocrypto
KingData News: According to CoinDesk, Binance has officially acquired Indonesian crypto trading platform Tokocrypto. The CEO, Pang Xue Kai will step down from his position and Yudhono Rawis, will become the interim CEO during the acquisition process. In addition, approximately 58% of Tokocrypto's employees were laid off and will focus on the trading platform business in the future, and business activities outside of the trading platform will be suspended. Binance had entered the Indonesian market in 2020 and invested in Tokocrypto.
If Grayscale’s Bitcoin ETF Dreams Fail, Firm May Try a Tender Offer, CEO Says
KingData News: Grayscale Investments said the firm would explore new options to return a portion of the Grayscale Bitcoin Trust GBTC‘s capital to shareholders if it fails to transform the world’s largest bitcoin fund into an exchange-traded fund. These options could include a tender offer for up to 20% of the outstanding shares of the $10.7 billion trust, Grayscale Chief Executive Michael Sonnenshein said in a letter to investors viewed by The Wall Street Journal. A tender offer would make a direct appeal to shareholders to sell—or tender—their shares at a specific price during a certain time.
Ousted Bitmex CEO Sues Former Employer for Wrongful Termination
KingData News: Alexander Höptner, the recently ousted CEO of crypto exchange operator Bitmex, filed a $3.4 million claim against his former employer over wrongful termination and breach of agreement. Höptner’s filing to Singapore's High Court today alleges Bitmex carried out a “baseless” internal investigation against him in order to avoid paying out millions of dollars in salary and bonuses. That investigation focused on his relocation from Hong Kong to Singapore, and later to Germany, and concluded that he misappropriated company funds to finance the moves — which served as the alleged basis for his dismissal in late October, according to the claim.
Insurers Shun FTX-linked Crypto Firms As Contagion Risk Mounts
KingData News: Insurers are denying or limiting coverage to clients with exposure to bankrupt crypto exchange FTX, leaving digital currency traders and exchanges uninsured for any losses from hacks, theft or lawsuits, several market participants said. Insurers were already reluctant to underwrite asset and directors and officers (D&O) protection policies for crypto companies because of scant market regulation and the volatile prices of Bitcoin and other cryptocurrencies.
US Senate Banking Chair Floats Possibility of Banning Crypto
KingData News: United States Banking Committee chairman Sherrod Brown has suggested that the Securities Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) should perhaps consider a ban on cryptocurrencies. Brown’s comments were made during a Dec. 18 appearance on NBC’s “Meet the Press,” although the senator quickly added that a ban would be difficult to enforce:“We want them to do what they need to do at the same time, maybe banning it, although banning it is very difficult because it would go offshore, and who knows how that would work.”
U.S. Prosecutors Are Investigating Whether SBF Parents Were Involved in the Misappropriation of Client Funds by FTX
KingData News: Mazars Group, which handled proof-of-reserves audits for exchanges KuCoin, Binance and Crypto.com, elected to stop providing the services because of “concerns regarding the way these reports are understood by the public,” according to reports. The “Big Four” accounting firms — known to be Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers — are “currently unwilling” to conduct a proof-of-reserves audit for a private crypto company, a Binance spokesperson told Blockworks.
OKX Has Resumed Trading And Will Cover All Losses Incurred by Customers Due to The Platform
KingData News: OKX released its latest announcement, saying that the cloud service provider failure has been fixed and trading resumed at 2:50 on December 19, and top-ups and withdrawals resumed at 12:00. OKX says that for customers with potential losses due to the suspension of trading, the customer support team will contact them to communicate the details of the payout and cover all losses caused by the platform.
Failed Hedge Fund Three Arrows Capital Estimated Assets at $1 Billion in July
KingData News: Three Arrows Capital (3AC), the now-bankrupt crypto hedge fund, estimated its assets at around $1 billion as of July, according to a document obtained by The Block. Breaking down the assets, fiat holdings were estimated to be worth $37 million, tokens around $238 million, NFTs around $22 million, and venture and other investments $502 million, per the document. The total value of the assets also includes 3AC's sub-portfolio funds, DeFiance Capital and Starry Night Capital, which are worth a total of around $217 million. It also notes that the value of the assets will change significantly, either positively or negatively, due to the volatile nature of crypto.
FTX.US Accounting Firm Armanino Ends Crypto Audit Practice
KingData News: Armanino is ending its crypto audit practice and dropping clients, two sources familiar with the matter say. The unit may be folding under pressure from Armanino’s non-crypto clients, concerned that reputational risk to the firm will throw their audits into question, according to a source with knowledge of the firm’s crypto offerings. Last month, Armanino was named in a class-action lawsuit for failing to catch irregularities at FTX.US after performing the exchange’s audit last year. The suit was filed by Stephen Pierce, an FTX customer who allegedly lost $20,000.
Bloomberg: Auditor Mazars Has Suspended Its Services for Cryptocurrency Exchanges
KingData News: According to Bloomberg Terminal news, auditor Mazars has suspended all services for cryptocurrency exchanges, including proof of reserves. Previously Mazars has conducted audits of user asset reserves for Binance, Crypto.com and Kucoin exchanges.
Crypto trading firm QCP Capital has at least $97 million stuck on FTX: Sources
KingData News: QCP Capital, a crypto trading firm based in Singapore, has at least $97 million stuck on FTX after the crypto exchange filed for bankruptcy last month. In an effort to recoup some cash, QCP is attempting to sell a claim on the frozen funds to distressed asset buyers, two sources with knowledge of the matter told The Block. "We have sufficient equity to absorb the impairment from the position," a QCP spokesperson said, while declining to comment on the value of the frozen funds. "The impairment does not impact our clients nor our counterparties. Withdrawals remain open and trading continues as usual. Our business remains profitable and healthy."
Crypto derivatives platform Paradigm cuts salaries by 15 percent
KingData News: Paradigm, the crypto derivatives trading platform, cut salaries company-wide by 15 percent. The OTC firm blamed the pay reduction on contagion stemming from the collapse of crypto exchange FTX in a tweet. Paradigm also claimed that salary cuts "reduce the need for layoffs seen across the ecosystem" and will impact the organization's momentum less. "These are tough times but we must do the hard thing and retain the financial flexibility to navigate the turbulent times we find ourselves in as an industry," it added.
Crypto markets hit harder by Terra, Celsius and 3AC than FTX: Chainalysis
KingData News: According to crypto analytics firm Chainalysis, UST's collapse caused $20.5 billion in realized losses for investors. Meanwhile, the failure of Celsius and Three Arrows Capital caused $33 billion in losses. FTX's collapse caused 'only' $9 billion in realized losses. Chainalysis's report admits that FTX was the most personally impactful event for some, as they will "likely lose any funds they kept on the exchange, and the likelihood of recovering them is unknown." However, the firm notes that "the heaviest hitting crypto events of 2022 were already behind investors by the time the FTX debacle took place" — from a market-wide point of view.
Crypto Lender Amber Scraps Bonuses, Cuts Jobs as FTX Collapse Turmoil Continues
KingData News: Amber Group, one of Asia’s biggest trading and lending platforms for digital currencies, has canceled this year’s staff bonuses as the one-time industry darling grapples with the crypto downturn. The Singapore-based outfit told employees this week that it is scrapping performance-based bonuses for 2022 due to slower business growth and market uncertainties, in an internal memo viewed by Bloomberg News. Two previous layoffs at Amber have cut the company's headcount from 1,300 to 400 and abandoned the retail business.
Genesis Owes More Than $2 Billion to Creditors, and Bankruptcy Would Trigger DCG's over $1.5 Billion Redeemable Loan
KingData News: Twitter user Andrew tweeted that he has been in communication with Genesis creditors. Genesis owes more than $2B to creditors. Genesis bankruptcy triggers more than $1.5B in callable loans from DCG. DCG bankruptcy would trigger huge GBTC liquidation.
BlockTower Credit and MakerDAO to Fund $220 Million of Real-World Assets through Centrifuge
KingData News: Crypto asset manager BlockTower Credit and MakerDAO will jointly launch a $220 million fund to fund Real World Assets (RWA), which was approved by an executive vote on Dec. 11. Maker will deploy four vaults to fund investments in real-world assets (RWA), originated by BlockTower and issued on-chain through Centrifuge. This stands to be the largest on-chain investment in real-world assets to date, with Maker providing $150m of senior capital and BlockTower providing $70m of junior capital.
FTX’s Systems Gave Alameda Trades a Secret Speed Edge, CFTC Says
KingData News: Sam Bankman-Fried’s trading house Alameda Research had a secret speed advantage when executing orders on his now-collapsed FTX crypto exchange, according to the US Commodity Futures Trading Commission. The CFTC says these advantages are not publicly disclosed and yield a "significant speed advantage" The CFTC says "Alameda's orders are milliseconds faster than those of other API users. In the high-frequency trading space, this is a significant time advantage."
Net outflows of Binance assets in the last 24 hours were approximately $3.8 billion
KingData News: According to defillama data, Binance currently has total assets of approximately $60.4 billion, with net asset outflows of approximately $3.8 billion in the last 24 hours, mainly in stablecoin-related flows. There have been over $7 billion of stablecoin outflows today, but there have also been over $4 billion of stablecoin inflows, for a net stablecoin outflow of about $3 billion.