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10 /12 Auto-refresh after 30s

Recently, Gotbit, which has been accused of fraud and market manipulation, is still a market maker for well-known projects such as Neiro and Hamster Kombat

10-11 23:57

ChainCatcher News, the U.S. Securities and Exchange Commission (SEC), the Federal Bureau of Investigation (FBI), and the Department of Justice (DOJ) jointly filed lawsuits on October 9 against four cryptocurrency companies suspected of fraud and market manipulation, including Gotbit Consulting, ZM Quant Investment, and CLS Global. These manipulated tokens were then sold at artificially inflated prices to unsuspecting buyers. These companies also promoted these tokens and persuaded exchanges to lower fees, further increasing profits.Gotbit is the largest company on this list. This market maker collaborated with well-known brands such as Bonk, Neiro, Hamster Kombat, and Robo Inu. At its peak, the company managed assets totaling $1.5 billion and made nearly $200 million in investments through Gotbit Ventures. Gotbit now faces a maximum fine of $5 million or twice the amount of illegal gains or losses, as well as asset forfeiture. The CEO, who is also facing charges, could face up to 20 years in prison.It is reported that in 2019, Gotbit's 20-year-old CEO Alexey Andryunin told CoinDesk about his practices: Gotbit was not registered in any jurisdiction because it was "not entirely ethical." In 2023, ZachXTB uncovered Andryunin's operations with the help of some leaked documents and a promotional material that stated: "In the first few minutes of the price discovery phase, we will push the price up 10 times to create FOMO and accumulate as much buying power as possible, and sell the most tokens during the subsequent surge."

Top trader Eugene: Ethena has the foundation to expand USDe to billions or even hundreds of billions

10-11 23:55

ChainCatcher news, top trader Eugene Ng Ah Sio posted on social media that Ethena is the fastest-growing DeFi product in history. It has scaled its yield stablecoin to $3 billion within a few months, and since its inception, no other stablecoin has grown as quickly as USDe. The first chapter of the Ethena story focuses on building a secure, high-quality stablecoin. It has withstood the test during extreme market volatility, and now the goal is to compete for the largest prize in cryptocurrency—the $160 billion market share of Tether.At this point, Ethena is beginning to transition from a DeFi-native stablecoin to a legitimate stablecoin competitor with a superior value proposition and significantly improved distribution channels. The introduction of USTb, the recent participation of Blackrock financial products, and the decline in interest rates have gradually matured the conditions for Ethena, which is now in a leading position, poised to make USDe the dominant stablecoin in cryptocurrency.Due to numerous inefficiencies in the market, you now have the opportunity to purchase this emerging powerful competitor at 1/4 of WIF's market cap, entering the largest market segment in cryptocurrency.Although ENA is the only major new product in this cycle with a clear product-market fit (PMF), its trading ranking on Coingecko hasn't even entered the top 100. From a technical analysis perspective, ENA's high time frame charts are very clean. Combined with fundamental drivers and reduced inflationary pressures, I can easily foresee ENA returning to the $1 level. This wouldn't even put ENA in the same market cap league as WIF, only matching POPCAT's recent $1.5 billion circulating supply.Looking ahead, Ethena has the foundation to expand USDe to tens of billions or even hundreds of billions. Ultimately, as crypto stablecoins gain greater market share due to international cross-border payments, a trillion dollars is not out of the question. At this point, considering that ENA is the best product targeting the largest market in the crypto space, I would be surprised if it does not become one of the top 20 coins. When this will happen remains unknown, but Ethena is my bet on the next significant dream in the crypto space for this cycle.

Grayscale plans to include a list of assets for its future investment products, covering more than 30 types of tokens

10-11 23:45

According to ChainCatcher news, the official announcement states that the gradual release is considering including the asset list for future grayscale investment products, which includes Kaspa (KAS), Aptos (APT), Arbitrum (ARB), Celestia (TIA), Celo (CELO), Core (CORE), Cosmos (ATOM), Internet Computer (ICP), Mantle (MNT), Metis (METIS), Neon (NEON), Optimism (OP), Polygon (POL ex. MATIC), Sei (SEI), Starknet (STRK), Toncoin (TON), TRON (TRX), Aerodrome (AERO), Ethena (ENA), Injective Protocol (INJ), Jupiter (JUP), Mantra (OM), Ondo Finance (ONDO), Pendle (PENDLE), THORChain (RUNE), Dogecoin (DOGE), Immutable (IMX), Akash (AKT), Arweave (AR), Artificial Superintelligence Alliance (FET), Helium (HNT), Pyth (PYTH), UMA Project (UMA), VeChain (VET), Worldcoin (WLD).

The main suspect in the $150 million cryptocurrency fraud case, Horst Jicha, has absconded after being released on bail

10-11 23:38

According to CNBC, German citizen Horst Jicha has become a fugitive after skipping bail in a $150 million cryptocurrency fraud case in New York. He tampered with his ankle monitor on October 3 and subsequently failed to appear in court. The Brooklyn U.S. Attorney's Office is actively investigating to apprehend him. Of Jicha's $5 million bail, $4 million was personally guaranteed by his partner, children, and three others, while $1 million in cash has been deposited with the federal government, putting their bail amounts at personal risk.The case against Horst Jicha was originally set to go to trial on March 31, facing multiple charges of securities fraud and conspiracy. Prosecutors indicated that the USI Tech platform was essentially a fraudulent multi-level marketing scheme, in which Jicha deceived investors, residing in Brazil and Spain before and after his arrest. He was arrested in Florida at the end of 2023 and was released on bail in January, but violated the conditions of his bail by failing to appear in court, meet with his attorney, or seek medical attention. After his arrest, approximately $150 million worth of Ethereum and Bitcoin was sent to a cryptocurrency deposit address controlled by Horst Jicha.

Layer 2 network Odyssey developer Ithaca completes $20 million financing, with participation from Paradigm

10-11 23:11

ChainCatcher news, according to The Block, cryptocurrency venture capital firm Paradigm has announced a $20 million investment in its spin-off company Ithaca. Ithaca is developing a new Layer 2 blockchain called Odyssey, aimed at accelerating the development of blockchain technology.Paradigm's Chief Technology Officer and General Partner Georgios Konstantopoulos will serve as the CEO of Ithaca while retaining his position at Paradigm. Paradigm co-founder Matt Huang will serve as the chairman of Ithaca.The Odyssey Layer 2 is built on Reth and the OP Stack and is currently live on the testnet. Konstantopoulos stated that Ithaca is building a complete technology stack needed by developers and users for faster deployment and lower barriers to entry.

Former FTX executive Ryan Salame's request to postpone his prison sentence was denied by the judge, and he will begin serving his sentence today

10-11 23:09

According to ChainCatcher, as reported by CoinDesk, former FTX executive Ryan Salame was sentenced for violating U.S. election laws after donating millions of dollars during the last congressional election. He attempted to delay his prison sentence at the last minute to treat a dog bite on his face, but was denied. Salame had criticized the charges against him on social media; he was originally supposed to begin serving over seven years in prison on August 29, but he told the court that he was bitten by a large German shepherd, which postponed his sentencing to October 11. Earlier this week, he requested another extension. However, during an interview with Tucker Carlson, there were no obvious signs that he was hindered by his injury—when the court rejected Salame's efforts, U.S. District Judge Lewis Kaplan of the Southern District of New York noted this fact.Salame claimed he needed "urgent and necessary medical and surgical care" and could not report to prison immediately, while prosecutors responded that he appeared to be in good condition. The prosecutors stated that when he appeared in court last month, he showed "no signs of drooling or slurred speech" while answering questions, and then he participated in Carlson's interview, during which Salame "appeared to be physically recovered and showed no signs of injury." The judge pointed out that Salame had already "benefited from an extremely generous delay in his incarceration," and the court expressed skepticism about the "validity" of Salame's claims.

Chainbase open-sources cryptocurrency-centric large language model Theia-Llama-3.1-8B

10-11 22:32

ChainCatcher news, the decentralized full-chain data network Chainbase announced the open-source release of the cryptocurrency-centric large language model Theia-Llama-3.1-8B, with training data sourced from CoinMarketCap and detailed project research reports. Chainbase stated that this model has a lower perplexity and a higher BERT score compared to other mainstream models, utilizing LORA for efficient fine-tuning, allowing large pre-trained models to adapt to specific tasks with lower computational power, significantly reducing the model's memory footprint and accelerating inference speed while maintaining acceptable accuracy.According to previous reports, Chainbase completed a $15 million Series A financing round in July this year, led by Tencent Investment Group and Matrix Partners China.

Citi: Expects the Fed's preferred inflation indicator to support a 25bp rate cut in November

10-11 22:15

ChainCatcher news, Citigroup economist Andrew Hollenhorst believes that the combination of the unexpectedly high CPI from yesterday and the U.S. PPI index supports the Federal Reserve's decision to cut rates by 25 basis points next month. The Fed's preferred inflation measure, the PCE, combines price data from both CPI and PPI, so this combination allows forecasters to make accurate predictions for the PCE in September.Citigroup expects that the core PCE, excluding the volatile food and energy prices, will grow by 0.21% month-over-month in September, while the year-over-year PCE will decrease from 2.7% in August to 2.6%. Hollenhorst pointed out that this should encourage the Fed to continue lowering rates.

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