PA Daily | Grayscale and CoinShares submit regulatory documents proposing to launch ETFs tracking XRP, Litecoin, and Solana; a16z plans to reduce investment in the UK crypto industry and shift its foc

Today's news tips:

1. Grayscale and CoinShares submit regulatory documents proposing to launch ETFs tracking XRP, Litecoin and Solana

2. Nasdaq applies to SEC for permission to transfer physical iShares Bitcoin Trust

3.SoSoValue airdrop is now open to qualified users

4. Justin Sun accused XCN of market manipulation and called on major exchanges to pay close attention to related risks

5. MicroStrategy may face billions of dollars in tax problems next year

6. a16z plans to reduce its cryptocurrency investment in the UK and shift its focus back to the US market

7. Part of the money paid by Ledger Lianchuang after being kidnapped has been frozen, and French police arrested 10 suspects

8. Coinbase International will launch TOSHI, GIGA and GRT perpetual contract transactions

Regulatory/Macro

Grayscale and CoinShares file regulatory documents proposing ETFs to track XRP, Litecoin, and Solana

CoinShares filed registration statements for the “CoinShares Litecoin ETF” and the “CoinShares XRP ETF.” The NYSE published a 19b-4 filing for the “Grayscale Litecoin Trust.” The NYSE also published a 19b-4 filing for the Grayscale Solana Trust. Both Grayscale filings include content regarding the conversion of the trust into a spot ETF.

Nasdaq Applies to SEC for Physical Transfers of iShares Bitcoin Trust

Nasdaq has submitted a proposed rule change to the SEC to update the iShares Bitcoin Trust. The update will allow for the transfer of the trust’s bitcoins to be made in a “physical transfer” manner.

“The Exchange now proposes to amend the prior rule document’s statement of purpose regarding the Trust’s creation and redemption process in order to list and trade the Shares, specifically to permit the Trust’s in-kind transfer of Bitcoin,” according to the new filing. “The proposed in-kind transfer process would be an alternative to the Trust’s current cash creation and redemption process.”

Bloomberg ETF analyst James Seyffart tweeted that the potential revised process would not mean individual investors would be able to conduct “in-kind” redemptions and creations, only authorized participants.

U.S. House Oversight Committee chairman is investigating politically motivated bank cancellations

James Comer, chairman of the U.S. House of Representatives Oversight Committee, is investigating recent reports that financial institutions have canceled legitimate U.S. corporate and personal bank accounts based on political affiliation. In addition, Fox reporter Eleanor Terrett tweeted that the U.S. Senate Banking Committee will hold a hearing on February 5 to focus on the issue of banks’ “de-banking” of cryptocurrency companies.

US Senator Cynthia Lummis Releases 'Laser Eyes' Image Symbolizing Bitcoin Supporters

US Senator Cynthia Lummis posted a picture of "laser eyes" symbolizing Bitcoin supporters on the X platform, with the caption "Please allow me to reintroduce myself."

Project News

SoSoValue airdrop is now open to qualified users

SoSoValue announced that the first quarter airdrop of $SOSO is now open for claiming. The airdrop claiming has been open for 4 months. The number of qualified users in the first quarter reached 200,000, and the $SOSO allocation was 1.5%. According to the latest financing valuation, the airdrop value of this quarter exceeds 15 million US dollars. The maximum airdrop amount for a single user is about 120,000 US dollars worth of $SOSO.

TON 2024 Year-end Report: 36.2 million new wallets, 1,700 mini-program developers earn $60 million

According to the 2024 Ecosystem Year-end Report officially released by TON, the following achievements are summarized:

• • 36.2 million new wallets
• • Daily average active wallets reached 1.8 million
• • More than 1,700 mini-program developers earned $60 million through the Telegram Stars program
• • Processing up to 40 million active addresses per month

Looking ahead to 2025, TON plans to launch TON Teleport BTC to achieve seamless Bitcoin integration, launch Society DAO to enhance community participation, and launch more advanced Telegram collaboration tools.

Justin Sun accuses XCN of market manipulation and calls on major exchanges to pay close attention to related risks

Justin Sun posted on social media that he accused the XCN (@Chain) project of conducting major market manipulation activities, using high leverage and contracts that could cause serious damage to users of multiple exchanges. He called on major exchanges (including Coinbase, Kraken, Bybit, KuCoin and HTX) to pay close attention to related risks and said he would report its illegal activities to the US SEC and Department of Justice (DOJ) for further investigation.

MicroStrategy could face billions of dollars in tax troubles next year

According to Solid Intel, MicroStrategy faces tax issues due to its $47 billion in Bitcoin assets (including $18 billion in unrealized gains), which could result in a tax bill of up to billions of dollars next year.

Part of the money paid by Ledger Lianchuang after being kidnapped has been frozen, and French police arrested 10 suspects

According to Fortune and other media reports, David Balland , co-founder of the well-known French encryption company Ledger, and his wife were successfully rescued after being kidnapped on January 23. The kidnappers demanded a ransom in cryptocurrency, part of which was paid but was subsequently tracked and frozen.

Event Details:

• • On January 21, the Ballands were kidnapped from their home in the Cher department of France and taken to different locations.
• • The kidnappers contacted another Ledger co-founder and demanded a ransom, part of which was paid in cryptocurrency.
• • French gendarmerie special forces GIGN intervened and rescued Balland on January 22, and found his wife the next day.

Balland was injured in the hand during the kidnapping and has been hospitalized. His wife was not physically injured but is under psychological supervision. The police arrested 10 suspects, all between 20 and 40 years old, most of whom have criminal records. If the kidnappers are found guilty, they may face life imprisonment.

Ledger CEO Pascal Gauthier thanked law enforcement for their swift action and stressed that security measures will be further strengthened.

MicroStrategy plans to redeem $1.05 billion of convertible bonds and settle conversion requests with stock

According to MicroStrategy's official announcement, the company plans to redeem all of its $1.05 billion convertible senior bonds due in 2027 and settle all conversion requests in the form of stock. Bondholders can convert them into 7.0234 shares of common stock (conversion price is $142.38 per share) at a par value of $1,000 before February 20, 2025. The redemption date is set for February 24, 2025, and the company will pay the principal of the bonds and unpaid special interest during the redemption period.

Thumzup board approves allocation of up to 90% of remaining cash into Bitcoin

According to Thumzup's official announcement, the company's board of directors has approved the allocation of up to 90% of the remaining cash to Bitcoin holdings as part of its financial reserve strategy. The company has purchased $1 million in Bitcoin on January 6, 2025, and plans to continue accumulating. At the same time, Thumzup plans to start paying gig economy employees in Bitcoin in the coming weeks to promote the use of Bitcoin in operations. Thumzup is a company focusing on social media branding and programmatic marketing solutions.

In addition, CEO Robert Steele expressed support for President Trump’s announcement to make the United States the “world capital of artificial intelligence and cryptocurrency,” and believed that relevant executive orders would strengthen the future development of Bitcoin and crypto assets.

a16z plans to scale back its cryptocurrency investments in the UK and refocus on the US market

According to the Financial Times, Silicon Valley venture capital firm Andreessen Horowitz (a16z) plans to reduce its investment in the UK cryptocurrency industry and refocus on the US market. Previously, the company entered London in 2023 with a high profile and opened its first office outside the United States, aiming to increase investment in the UK crypto sector. However, with Trump's election and promotion of cryptocurrency-friendly policies, Andreessen Horowitz founders Marc Andreessen and Ben Horowitz gradually concentrated their resources on the US market.

According to reports, the company has hinted to British entrepreneurs and policymakers that it will reduce its investment in the UK. Sriram Krishnan, the partner who led the UK project, quit last year and recently joined the Trump administration. Although Andreessen Horowitz is still looking for deals in the UK, most of the related investments are led by the US team.

Coinbase International will launch TOSHI, GIGA and GRT perpetual contract trading

According to official news from Coinbase International Exchange, the platform will launch perpetual contract transactions for Toshi, Gigachad and The Graph at or after 17:30 (UTC+8) on January 30, 2025, corresponding to the markets TOSHI-PERP, GIGA-PERP and GRT-PERP respectively. These transactions will be supported on Coinbase International Exchange and Coinbase Advanced platforms.

SlowMist Cosine: Extension wallets installed or manually updated on AdsPower between January 21 and January 24 may be stolen

Yu Xian, the founder of SlowMist, issued a reminder on X that the AdsPower fingerprint browser transparently disclosed an intrusion incident. If you are using AdsPower and have installed an extended wallet or manually updated the extended wallet between 18:00 on January 21 and 18:00 on January 24 (UTC+8), then the extended wallet (such as MetaMask, etc.) on your AdsPower may be a version with a backdoor, which will steal your mnemonic/private key.

Jupiter: Acquired a majority stake in Moonshot

Solana's on-chain DEX Jupiter tweeted that it has acquired a majority stake in Moonshot.

Important data

The total CEX trading volume in 2024 will reach 75.8 trillion US dollars, exceeding that in 2021.

According to data released by CCData, the cryptocurrency market will see significant growth in 2024:

• Trading volume hit an all-time high: Total trading volume on centralized exchanges reached US$75.8 trillion for the year, exceeding the 2021 record of US$65.1 trillion.
• Derivatives dominate the market: Derivatives transactions accounted for 69.2% of total trading volume, a significant increase from 59.5% in 2021. In December 2024, the monthly derivatives trading volume of centralized exchanges reached US$7.58 trillion, achieving three consecutive months of growth.

Trump family crypto project World Liberty Financial bought 3001 ETH and 95 WBTC about 2 hours ago

According to Spot On Chain monitoring, about 2 hours ago, the Trump family's encryption project World Liberty Financial spent US$20 million to purchase 3,001 ETH and 95 WBTC.

In the past 5 days, the address has invested $210.9 million, including 35,995 ETH worth $119 million at an average price of $3,332, and 629.1 WBTC worth $66.84 million at an average price of $106,249. The address currently holds 77,818 ETH ($257 million), including 19,403 pledged through Lido Finance, and 646.72 WBTC ($67.6 million).

A whale deposited about 17,000 AAVE to Binance 6 hours ago. The current AAVE position has a floating profit of about 13.5 million US dollars.

According to Lookonchain monitoring, 6 hours ago, a whale deposited 17,002 AAVE ($5.9 million) to Binance. 7 months ago, when the price was $82, the whale withdrew 49,640 AAVE ($4.09 million) from OKX. The whale currently holds 11,637 AAVE ($3.91 million) with a total profit of $13.5 million (+330%).

Bitcoin spot ETF had a net inflow of US$518 million yesterday, continuing its net inflow for 7 consecutive days

Ethereum spot ETF had a net inflow of $9.1772 million yesterday, and the ETF net asset ratio reached 3.04%

A certain whale has built a position of $1.768 million in VINE in the past eight hours, and now has a floating profit of $2.89 million

According to @ai_9684xtpa monitoring, the whale 6Ge32...3gMrw spent $1.768 million to build a $VINE position in the past eight hours and has not sold it yet. It is currently the TOP5 position; the average price is $0.1365, and the current floating profit is $2.89 million.