PA Daily | KuCoin has reached a settlement with the U.S. Department of Justice (DOJ); Coinbase will list Venice Token (VVV), an AI concept token on the Base chain

Today's news tips:

The Hong Kong Securities and Futures Commission has granted two more virtual asset trading platform licenses, bringing the number of licensed trading platforms to nine

KuCoin has reached a settlement with the U.S. Department of Justice (DOJ)

Boyco platform based on Berachain is now online, users can deposit liquidity and receive rewards

Base gaming ecosystem B3 is about to launch tokens, and users can get rewards by holding and staking

Mysten Labs co-founder: Sui will support transactions via SMS

Nvidia plunged nearly 17%, and the wealth of technology giants led by Huang Renxun shrank significantly

Coinbase will launch Venice Token (VVV) on the Base chain AI concept token

Santiment data: Whales bought 460 million DOGE during the recent market decline

Regulatory/Macro

Trump: I hope to have a bidding war around TikTok, and Microsoft is currently negotiating an acquisition with it

Trump said in his speech that he hopes to have a bidding war over TikTok, and Microsoft (MSFT.O) is currently in acquisition negotiations with TikTok.

The Hong Kong Securities and Futures Commission has granted two more virtual asset trading platform licenses, bringing the number of licensed trading platforms to nine

On January 27, the Hong Kong Securities and Futures Commission (SFC) issued two more virtual asset trading platform licenses, namely PantherTrade under Futu and YAX under Tiger International, bringing the number of licensed virtual asset trading platforms in Hong Kong to 9. According to the SFC, there are still 9 virtual asset trading platforms on the applicant list, of which 5 are considered to have been licensed.

KuCoin has reached a settlement with the U.S. Department of Justice (DOJ)

KuCoin has reached a settlement with the U.S. Department of Justice (DOJ). KuCoin founders Chun Gan and Ke Tang have also reached settlement agreements with the U.S. Department of Justice (DOJ). Under the agreement, the DOJ agreed to drop all charges against the two founders after they met certain conditions. This outcome paves the way for the future development of KuCoin and its new leadership team. These settlements mark a new chapter for KuCoin, highlighting its commitment to global compliance and continued growth under the leadership of new CEO BC Wong.

The Nikkei 225 index fell 1.00% on the day, and chip stocks continued to fall

Japanese chip-related stocks fell sharply after the sell-off of U.S. technology stocks. The share prices of SoftBank Group, Tokyo Electron, Advantest and other related stocks fell, among which the share price of Advantest (Nvidia supplier) fell 10%.

U.S. Senate votes to confirm cryptocurrency supporter Scott Bessant as Treasury Secretary

On January 27, local time, the U.S. Senate confirmed Scott Bessant as Secretary of the Treasury with 68 votes in favor and 29 votes against. Earlier, the U.S. Senate Finance Committee approved Bessant's nomination on the 21st with 16 votes in favor and 11 votes against. The Senate advanced the nomination confirmation procedure for Bessant as Secretary of the Treasury with 67 votes in favor and 23 votes against on the 25th. (CCTV) According to previous reports, according to the Financial Times, Bessant is a hedge fund manager who served as an economic adviser to the former president and is widely regarded as the leading candidate for the position in Trump's new administration. Bessant is the founder of Key Square Capital Management and became one of Trump's chief economic advisers in 2023. Trump recently described him as a "top Wall Street analyst." Scott Bessant is very supportive of cryptocurrencies, especially Bitcoin.

The probability that the Federal Reserve will keep interest rates unchanged this week is 97.3%.

According to CME's "Fed Watch": The probability of the Fed keeping interest rates unchanged this week is 97.3%, and the probability of a 25 basis point rate cut is 2.7%. The probability of maintaining the current interest rate unchanged by March is 68.1%, the probability of a cumulative 25 basis point rate cut is 31.1%, and the probability of a cumulative 50 basis point rate cut is 0.8%.

AI

Nvidia plunged nearly 17%, and the wealth of technology giants led by Huang Renxun shrank significantly

Nvidia (NVDA.0) shares plunged nearly 17%, with a record loss of $589 billion in market value. According to Forbes, the company's CEO and largest individual shareholder, Jensen Huang, saw his net worth shrink by $20.8 billion at the close, from $124.4 billion to $103.7 billion, and he fell from 10th to 17th on the Forbes real-time billionaires list. Oracle (ORCL.N) fell 14%, and Chairman Larry Ellison's net worth shrank by $27.6 billion, falling from third to fifth on the global rich list. The Bloomberg Billionaires Index showed that the world's 500 richest people lost a total of $108 billion on Monday, with the wealth of tech industry giants evaporating by $94 billion, accounting for about 85% of the index's total decline.

Security company: As Chinese artificial intelligence company DeepSeek becomes popular, the number of related fraud tokens surges three times in a single day

As Chinese artificial intelligence company DeepSeek has become popular, malicious "DeepSeek" crypto tokens have surged in the past 24 hours. According to security company BlockAid, as of January 27, at least 75 related scam tokens have been created, a threefold increase from the previous day. This is exactly the same as the surge in fake tokens after US President Trump released Meme Coin on January 18. According to BlockAid research analyst Oz Tamir, scammers have set up a DApp that mimics the DeepSeek website, which has a "connect wallet" button that can steal user wallet funds after clicking it.

OpenAI CEO Sam Altman: DeepSeek-R1 is an impressive model and it is exciting to have such new competitors

According to Jinshi Data on January 28, a Chinese AI startup called DeepSeek recently released two large models, DeepSeek-V3 and DeepSeek-R1, in less than 30 days, which became popular on the Internet and continued to cause heated discussions. According to foreign media reports, OpenAI CEO Sam Altman posted a message on the social media platform "X" on the evening of the 27th, welcoming the debut of the DeepSeek-R1 model. "DeepSeek-R1 is an impressive model, especially considering that it can provide (such a product) at this price." Altman said in the post, "It is really exciting to have such a new competitor." In addition, Altman also mentioned in the post that OpenAI will accelerate the launch of new products.

Nvidia says DeepSeek progress proves need for more chips

Nvidia said on Monday that progress by Chinese artificial intelligence company DeepSeek demonstrated the usefulness of its chips in the Chinese market, and that more of them will be needed in the future to meet demand for DeepSeek's services.

Project News

Pudgy Penguin: PENGU token will soon establish an important connection with the Abstract chain

Penguin posted on X that the Abstract mainnet is now live, and owning Pudgy Penguin and Lil Pudgy Status will provide additional XP for users who use Abstract, and more rewards will be provided to holders in the future. In addition, PENGU plans to establish an important connection with Abstract in the near future.

Binance: Will support Cardano (ADA) network upgrade and hard fork

According to the official announcement, Binance is expected to suspend the Cardano (ADA) network token recharge and withdrawal services at 04:45 (ET on January 30, 2025) to support its network upgrade and hard fork. The project will perform a network upgrade and hard fork at 05:45 (ET on January 30, 2025).

Boyco platform based on Berachain is now online, users can deposit liquidity and receive rewards

According to Berachain official X news, the Royco platform based on Berachain has been launched, and users can deposit liquidity and receive rewards.

Base gaming ecosystem B3 is about to launch tokens, and users can get rewards by holding and staking

Base gaming ecosystem B3 is about to launch tokens. Holding B3 tokens will gain access to new game chains and game chain tokens, the opportunity to own core infrastructure partner tokens, stake B3 to earn "publisher" rewards, and more.

Mysten Labs co-founder: Sui will support transactions via SMS

Mysten Labs co-founder Adeniyi said Sui will soon launch the function of trading via text messages, bringing payments, DeFi and rewards to everyone, everywhere.

Venice, an AI project based on DeepSeek, announced an airdrop, and VVV tokens rose by 8326.43% in 24 hours

Venice Token (VVV), an AI project based on DeepSeek on the Base chain, announced that it will airdrop tokens to active users of the Base ecosystem, including VIRTUALS, AERO, DEGEN, AIXBT, GAME, LUNA, VADER, CLANKER, MOR holders, etc. According to the on-chain market, the price of VVV tokens increased by 8326.43% in 24 hours, with a market value of US$1.66 billion. According to previous news, Coinbase will launch the Base chain AI concept token Venice Token (VVV).

Coinbase will launch Venice Token (VVV) on the Base chain AI concept token

According to the official announcement, Coinbase will launch Venice Token (VVV), an AI concept token on the Base chain. The transfer of this asset can be carried out on Coinbase and Coinbase Exchange. Once sufficient asset supply is established on the VVV-USD trading pair, it will be launched in phases.

Viewpoint

Matrixport: Bitcoin spot ETF introduces Wall Street investors, which is expected to stabilize the price of the currency and thus suppress its volatility

Matrixport published a chart today saying that over the past five years, Bitcoin's 30-day realized volatility has averaged 58%. Typically, volatility exceeds this average during bull and bear markets, such as the bull market in 2020/2021 and the bear market in 2022. However, recent volatility has been unusually low, which is very noteworthy because Bitcoin's volatility is usually amplified when the market is rising or falling.

The introduction of Bitcoin spot ETFs to Wall Street investors appears to have played an important role in curbing Bitcoin volatility. Lower volatility allows institutional investors to take more risks, and coupled with Bitcoin's strong performance in 2023 and 2024, this may continue to attract more Wall Street funds. As institutional buying absorbs the market's decline, this trend is expected to further stabilize Bitcoin prices and thus curb its volatility.

Important data

Santiment data: Whales bought 460 million DOGE during the recent market decline

On-chain analyst Ali YuX wrote: “Based on Santiment data, whales bought 460 million DOGE during the recent market decline.”

A newly created wallet withdrew 400 BTC from Binance 2 hours ago, worth $41.2 million

According to Lookonchain monitoring, a newly created wallet withdrew 400 BTC (US$41.2 million) from Binance 2 hours ago.

The address that bought $10 million of VIRTUAL received 101,000 VVV airdrops and sold about 50,000 VVVs, making a profit of $84.3

According to the monitoring of on-chain analyst Ember, the whale/institution that previously used 10 million USDC to purchase 4.251 million VIRTUAL received an airdrop of 101,000 VVV (1.68 million USD) for holding VIRTUAL. He has currently sold 50,519 VVV at an average price of $16.7 for 843,000 USDC, and still holds 50,485 VVV.