Bankrupt Crypto Firms Liquidate Assets

January 15, 2024

🔗 Celsius, FTX, Alameda Move Millions in ETH

Celsius Transfers $125M ETH: Celsius Network moved over $125 million in Ethereum to exchanges, including $95.5 million to Coinbase, as part of its strategy to manage assets and repay creditors.

FTX and Alameda's Crypto Moves: Bankrupt entities FTX and Alameda Research transferred $28 million in cryptocurrencies, including Wrapped Bitcoin and Ethereum, to various exchanges amid their ongoing financial restructuring.

Repayment and Restructuring Efforts: These transfers are part of Celsius, FTX, and Alameda's efforts to repay creditors and restructure their finances during bankruptcy. Read More.

️ On today's Top Picks:

⚖️ JPMorgan: < 50% chance of Ethereum ETF approval.
🚀 Taiko Katla Testnet launches.
🔱 $MANTA tokenomics released.
🪂 Jupiter $JUP airdrop date confirmed.

Read time: ⏰ 7 minutes

Crypto News

• ⭐️ Celsius, FTX, & Alameda dumping crypto on exchanges amid plans to repay creditors.

• ⭐️ JPMorgan sees less than 50% chance of an Ethereum ETF approval by May.

• Circle CEO Jeremy Allaire believes the US will pass stablecoin laws this year.

• Do Kwon again appeals Montenegro High Court’s decision to uphold extradition requests.

• GameStop to shut down NFT marketplace on February 2nd citing regulatory uncertainty.

• Hedera Network allocates 4.86M $HBAR worth ~$400M for ecosystem growth, operational costs, and more.

• South Korea considers introducing sanctions on cryptocurrency mixers.

Alpha

• ⭐️ Taiko launches final Katla Testnet in preparation for Mainnet launch.

• Burnt (XION) introduces Generalized Abstraction Testnet in preparation for Mainnet launch.

• Parallel Network launches new Discord roles that, "..will be an integral part in the future of the Parallel community."

• Fuel posts video mentioning, "Mainnet soon," on X.

• RedStone Oracles posts picture of a Manta Network themed trident with the date, "16.01" on X.

• Rabby posts picture of a camera on X, potentially hinting at a snapshot.

• Full-Year 2023 & Themes For 2024 report by Binance Research.

Airdrops

• ⭐️ Manta Network releases $MANTA tokenomics.

• ⭐️ Jupiter $JUP airdrop confirmed to launch on January 31st.

• List of 8 High-Potential Airdrops by Crypto Snooper.

• AltLayer Nitrogen Testnet guide by mztacat.

• Mind Network Testnet guide by mztacat.

Finance News

• President Biden raises $97M+ in Q4 2023, enters election year with $117M.

• Barclays Bank envisions the FOMC to cut rates by 25 bps every other meeting beginning in March.

Security and Exploits

• Gary Gensler clarifies hackers accessed the SEC's X account by taking control of the phone number associated with the account.

• Bitfinex successfully blocks partial payments exploit attack.

• CertiK uncovers and patches vulnerability in CosmWasm that could have caused a network-wide outage.

• Wise Lending exploited for ~177 ETH due to price manipulation attack.

• Cyvers posts security alert for address poisoning attacks.

• SlowMist releases weekly security report highlighting ~$684K in losses.

Token Unlocks

• Flow / 2.6M $FLOW / ~$2.2M / JAN 15
• ApeCoin / 15.6M $APE / ~$22M / JAN 16
• Euler / 110.72K $EUL / ~$475K / JAN 17
• 1inch / 364.29K $1INCH / ~$170K / JAN 18
• Axie Infinity / 3.43M $AXS / ~$27.1M / JAN 18
• Nym / 3.27M $NYM / ~$748K / JAN 18
• Injective / 3.67M $INJ / ~$138.4M / JAN 20
• Space ID / 53.27M $ID / ~$16M / JAN 21

Funding

• Convergence, an agnostic governance aggregator; raises $1.8M in funding led by Prismatic Capital and Dewhales Capital.

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PROTOCOL	ASSETS	APY
Solv Funds (Arbitrum)	USDT	61.19%
Curve DEX (Ethereum)	IDAIIUSDCIUSDT	46.15%
Vela Exchange (Arbitrum)	USDC	46.12%
Pendle (Arbitrum)	GDAI	39.90%
Merkl (Arbitrum)	STEURUSDC	39.28%
Cetus (Sui)	USDTUSDC	37.06%
Aura (Ethereum)	DOLAUSDC	34.64%
DeltaPrime (Arbitrum)	USDC	31.24%