PA Daily | ALPACA’s 24-hour liquidation exceeded $50 million; the UK Treasury plans to work with the United States to promote innovation in the crypto industry

Today's news tips:

The US SEC has terminated its investigation into PayPal's stablecoin PYUSD

UK Treasury plans to work with US to promote innovation in crypto industry

Trump's second son Eric Trump: Blockchain technology has significant advantages, and the banking industry will be eliminated within ten years if it does not reform

Arthur Hayes: Bitcoin will rise to $1 million in 2028, recommends "going long on everything"

Binance will launch PUNDIX/USDT and CTK/USDT perpetual contracts

ALPACA’s 24-hour liquidation exceeded 50 million US dollars, and the liquidation amount exceeded BTC and ranked first

MOCA is suspected to be entrusting Galaxy Digital to make a market or sell tokens. Galaxy Digital transferred 40 million MOCA to Bybit 4 hours ago.

Standard Crypto partners transferred 2,000 MKR and 20,000 AAVE to Coinbase 1 hour ago

Regulatory/Macro

The US SEC has terminated its investigation into PayPal's stablecoin PYUSD

According to Cryptonews, the U.S. Securities and Exchange Commission (SEC) has terminated its investigation into PayPal's stablecoin PYUSD and has not taken enforcement action. In a document disclosed on May 1, PayPal stated that the SEC enforcement department issued a document subpoena in November 2023 and notified the end of the investigation in February 2025. PayPal pointed out in the document that future legislation may bring new compliance costs to stablecoin issuers, and if partners are involved in litigation or PYUSD is used for illegal transactions, it may cause reputational risks. The termination of this investigation may ease institutional compliance concerns about stablecoins in the short term.

Ledger scammers are sending postal mail to steal recovery phrases

According to Cointelegraph, an offline phishing scam targeting Ledger hardware wallet users has recently appeared, with scammers asking victims to verify their mnemonics via postal mail. On April 29, technology commentator Jacob Canfield exposed a fake "Ledger Security Update Notification" letter on the X platform, which contained a QR code with a brand logo, inducing users to enter a 24-word recovery phrase. Ledger officials immediately responded and emphasized: "We will never ask for mnemonics in any way." This scam may be related to the Ledger user data leak in July 2020, when the names, phone numbers and addresses of more than 270,000 users were made public by hackers. In 2021, it was reported that some users received fake hardware wallets with pre-installed malware. Experts remind: Any request for mnemonics is a scam, and physical isolation is the core security advantage of hardware wallets.

SoFi plans to restart crypto services by the end of 2025

According to CoinDesk, financial technology company SoFi announced that it will restart cryptocurrency services and plans to resume customer crypto asset investment functions by the end of this year. The company's CEO Anthony Noto said in an interview with CNBC that this return will be more strategic than before the suspension of services in 2023, and plans to integrate blockchain technology in all its major products in the next 24 months. In 2023, SoFi took the initiative to suspend trading services for more than 20 tokens in order to obtain a US banking license. Noto said that the new regulations issued by the US Office of the Comptroller of the Currency (OCC) in March this year reduced the compliance burden of banks participating in crypto businesses, creating conditions for restarting. In addition to trading, SoFi may also launch crypto payment and crypto asset lending services.

UK Treasury plans to work with US to promote innovation in crypto industry

According to The Block, the UK Treasury issued a statement on April 30, saying that it plans to work with the United States to promote innovation in the crypto industry. Chancellor of the Exchequer Rachel Reeves said that through the "Change Plan", new regulations will be formulated for crypto asset service providers such as Bitcoin and Ethereum to enhance investor confidence and promote growth. The move is aimed at making the UK "the best place for innovation in the world." The statement revealed that Reeves recently met with US Treasury Secretary Scott Bessent in Washington to discuss cooperation in digital asset regulation, including relevant proposals put forward by SEC Commissioner Hester Peirce. The two finance ministries will continue to explore ways to support the responsible development of digital assets through the "UK-US Financial Regulatory Working Group." The UK has adjusted its policies to support the crypto industry many times this year, including revising the Financial Services and Markets Act 2000 in January to cancel strict supervision of domestic pledge service providers. This series of measures echoes the Trump administration's support for the crypto industry.

BlackRock applies for DLT Shares for its $150 billion money market fund, deploying blockchain applications

According to Bloomberg ETF analyst Henry Jim, BlackRock has applied for a digital share class, DLT Shares, for its $150 billion money market fund. DLT shares will only be sold through BNY Mellon, which intends to use blockchain technology to mirror ownership, which may be a preliminary preparation or foreshadowing for the future use of digital currency/cash.

European digital bank bunq launches crypto trading service powered by Kraken

According to The Block, Bunq, the second largest digital bank in Europe (after Revolut), announced the launch of the crypto trading function "bunq Crypto", which allows users to invest in digital assets directly through its banking app. The service is technically supported by the crypto exchange Kraken and has been launched in the Netherlands, France, Spain, Ireland, Italy and Belgium, supporting more than 300 cryptocurrencies such as Bitcoin, Ethereum and Solana. Bunq said that the product complies with the EU Crypto Asset Market Regulation (MiCA) and has completed VASP registration. It plans to gradually expand to other parts of the European Economic Area and has applied for operating licenses in the United States and the United Kingdom.

Viewpoint

Arthur Hayes: Bitcoin will rise to $1 million in 2028, recommends "going long on everything"

Arthur Hayes reiterated his optimistic prediction for Bitcoin prices at the Token2049 conference in Dubai, believing that Bitcoin could rise to $1 million by 2028. Hayes pointed out that the United States will need to increase dollar liquidity, which is similar to quantitative easing, which will drive cryptocurrency prices higher. He compared the current market conditions with the third quarter of 2022, when the market was concerned about factors such as central bank rate hikes, but the United States injected $2.5 trillion through the repurchase program. Hayes said that even if Federal Reserve Chairman Jerome Powell may not intervene in the market directly, arbitrage hedge funds may indirectly promote market recovery by increasing liquidity by purchasing Treasury bonds. He advised investors to "go long everything," including cryptocurrencies and stocks.

Trump's second son Eric Trump: Blockchain technology has significant advantages, and the banking industry will be eliminated within ten years if it does not reform

According to CNBC, Eric Trump, vice president of the Trump Organization and second son of Trump, publicly criticized the traditional financial system at a cryptocurrency event in Dubai, saying that the SWIFT system is inefficient and that the banking industry will be eliminated within ten years if it is not reformed. He said: "The modern financial system has collapsed, runs slowly and is costly. Everything that blockchain technology can do will be better than the way current financial institutions operate. SWIFT is simply a disaster. Our banking system favors the super-rich. What really got me involved in the (cryptocurrency) field was that I realized that our banking system is used against the vast majority of people in our country. This forced me into the world of cryptocurrency. I tell you, if banks don't pay attention to the coming changes, they will go extinct within ten years." He also praised decentralized finance as a way to bypass the costs and lack of privacy of traditional banks. In recent years, Eric Trump has frequently visited the desert emirate as it has quickly become a global center for cryptocurrency.

Coinbase executive: Gold appreciation could lead to U.S. Treasury buying Bitcoin sooner than expected

According to The Block, Sebastian Bea, president of Coinbase Asset Management, said in a recent episode of The Scoop that if the U.S. government reassesses the gold-dollar exchange rate, it may accelerate its plans to buy Bitcoin. He pointed out that Bitcoin is transforming from a highly volatile technology asset to a gold-like value storage tool, a trend that has attracted more institutional attention and portfolio integration.

Cardone Capital Establishes 10-Asset Real Estate Fund to Acquire More Than 1,000 Bitcoins

According to Cointelegraph, Cardone Capital has set up a real estate fund consisting of 10 assets (a total of 2,500 units) to acquire more than 1,000 Bitcoins.

The U.S. Senate will vote on the stablecoin-related GENIUS Act in May

According to Cointelegraph, the U.S. Senate will vote on the GENIUS Act in May. The bill sets reserve requirements and regulatory rules for stablecoins, aiming to balance innovation and consumer protection. This is an important step in the field of stablecoin regulation.

Project News

Binance will launch PUNDIX/USDT and CTK/USDT perpetual contracts

Binance Futures will launch the PUNDIXUSDT perpetual contract at 18:00 Beijing time on April 30, and the CTKUSDT perpetual contract at 18:15, both supporting up to 75x leverage.

Bithumb will launch SIGN Korean Won trading pair

According to an official announcement, South Korean crypto exchange Bithumb will launch SIGN Korean won trading pairs.

Libre to launch $500 million Telegram bond fund on TON blockchain

According to CoinDesk, asset tokenization agency Libre announced that it will cooperate with Brevan Howard, Hamilton Lane and Laser Digital, the digital asset department of Nomura Securities, to launch a $500 million Telegram Bond Fund (TBF) on the TON blockchain. The fund will be open to qualified investors, and the underlying assets are $2.4 billion in outstanding bonds issued by Telegram. Libre CEO Avtar Sehra said that fund shares will be tokenized through the TON network, and investors can obtain bond returns and use them as collateral for on-chain lending. Previously, Libre has completed the tokenization of more than $200 million in assets, and its partners include BlackRock and other institutions. The TON network was originally developed by Telegram and is now committed to introducing its 950 million users into the on-chain ecosystem.

To participate in Binance Wallet's new TGE B² Network, you must have 82 points

According to the official announcement, Binance Wallet announced the participation threshold for the new B² Network (B2) TGE, and the Alpha points must reach 82 points. The subscription time is April 30, 16:00-18:00 (UTC+8).

Binance Finance supports Solv Protocol BTC staking

According to the official announcement, Binance Finance will launch Solv Protocol BTC staking at 12:00 (ET on April 30, 2025). Users can purchase and stake BTC through their Binance accounts to obtain on-chain income provided by Solv Protocol.

Movement: 740 million MOVE tokens have been transferred to the foundation address for MoveDrop preparation

The Movement Network Foundation said on the X platform that 740 million MOVE tokens have been returned to the foundation wallet for preparations for MoveDrop. These tokens were previously allocated for the initial L1 phase of MoveDrop.

Binance to Support IOTA (IOTA) Network Upgrade and Hard Fork

According to the official announcement, Binance is expected to suspend the token recharge and withdrawal services of the IOTA (IOTA) network at 14:00 (Eastern Time) on May 5, 2025 to support its network upgrade and hard fork. The project party is expected to perform a network upgrade and hard fork at 15:00 (Eastern Time) on May 5, 2025.

Dingaling will launch Solana's on-chain token issuance platform boop this week and will conduct airdrops

NFT whale dingaling posted on the X platform: "The Solana on-chain token issuance platform boop will be launched this week. Airdrops will be carried out at the launch to reward trading users." In addition, he also stated that the points system will not be launched, and more details will be released soon.

Important data

ALPACA’s 24-hour liquidation exceeded 50 million US dollars, and the liquidation amount exceeded BTC and ranked first

Coinglass data shows that the liquidation amount of ALPACA tokens exceeded US$50 million in the past 24 hours, mainly due to short orders. The 24-hour liquidation was US$50.187 million, exceeding BTC (US$43.475 million), of which US$3.98 million was liquidated on the Bybit platform at 13:13:30 today.

MOCA is suspected to be entrusting Galaxy Digital to make a market or sell tokens. Galaxy Digital transferred 40 million MOCA to Bybit 4 hours ago.

According to @ai_9684xtpa, MOCA is suspected of entrusting Galaxy Digital to make markets or sell tokens. Mocaverse's liquidity distribution multi-signature address has transferred 74.07 million MOCA tokens to Galaxy Digital in the past two weeks, worth about $5.92 million. Only 4 hours ago, Galaxy Digital has recharged 40 million of these tokens to Bybit, worth about $3.6 million. The current price of MOCA tokens is $0.089818.

ALPACA breaks through $1, up 345.59% in 24 hours

According to Binance market data, ALPACA broke through $1 and is now quoted at $1.01, up 345.59% in 24 hours. Earlier news said that Binance will delist ALPACA, PDA, VIB and WING on May 2.

Bitcoin spot ETFs had a total net inflow of $173 million yesterday, continuing a net inflow for 8 consecutive days

According to SoSoValue data, yesterday (April 29, Eastern Time), the total net inflow of Bitcoin spot ETFs was US$173 million. The Bitcoin spot ETF with the largest net inflow in a single day yesterday was Blackrock ETF IBIT, with a single-day net inflow of US$217 million. Currently, IBIT's total net inflow in history has reached US$42.388 billion. The Bitcoin spot ETF with the largest net outflow in a single day yesterday was Bitwise ETF BITB, with a single-day net outflow of US$24.3896 million. Currently, BITB's total net inflow in history has reached US$2.047 billion. As of press time, the total net asset value of Bitcoin spot ETFs is US$110.171 billion, the ETF net asset ratio (market value to the total market value of Bitcoin) is 5.85%, and the historical cumulative net inflow has reached US$39.196 billion. Information source:

10,431 SOLs have been deposited into the pre-sale payment address of Mikami tokens, equivalent to approximately $1.54 million

According to the monitoring of chain analyst Yu Jin, within 50 minutes of pre-sale, 10,431 SOL (about 1.54 million US dollars) of Mikami Yua's personal meme coin Mikami has been deposited into the pre-sale payment address of Mikami tokens. It is reported that the token has no fundraising limit, no exchange price, and no refund. The amount of SOL deposited will be used to share 20% of the total Mikami.

Standard Crypto partners transferred 2,000 MKR and 20,000 AAVE to Coinbase 1 hour ago

According to the on-chain analyst Ember, Standard Crypto partner @izebel_eth transferred 2,000 MKR (about $3.06 million) and 20,000 AAVE (about $3.31 million) to Coinbase 1 hour ago. He bought these MKR and AAVE on the chain in late February and early March, and he should have lost $262,000 on these two tokens.

An investor/institutional address transferred 9 million UNI to Coinbase Prime 1 hour ago, equivalent to approximately 47.07 million US dollars

According to monitoring by on-chain analyst Ember, an investor/institutional address that received 9 million UNI from Uniswap in September 2020 transferred all 9 million UNI (approximately US$47.07 million) to Coinbase Prime 1 hour ago.

Tether minted 2 billion USDT on the Ethereum network in the early morning

According to Whale Alert, at 02:18 and 02:22 Beijing time this morning, Tether Treasury minted a total of 2 billion USDT through two transactions on the Ethereum network. Tether CEO Paolo Ardoino said that the newly minted USDT was a replenishment of inventory. This is an authorized but unissued transaction, which means that the amount will be used as inventory for the next issuance request and chain exchange.

Financing

Web3 startup Terminal 3 completes $8 million seed round, with Animoca Brands and others participating

According to Businesswire, Hong Kong Web3 startup Terminal 3 has completed an $8 million seed round of financing, led by Illuminate Financial and CMCC Titan Fund, with participation from Animoca Brands, Progression Fund, IDG Blockchain, Cherubic Ventures, 500 Global, Consensys Mesh, Hard Yaka and BlackPine. The decentralized identity and data privacy protocol developed by the company has served more than 8 million users, and the new funds will be used to launch enterprise-level solutions before the end of the year. Gary Liu, co-founder and CEO of Terminal 3, said that its platform combines blockchain and zero-knowledge proof technology to provide secure data storage solutions for scenarios such as banks, government credentials and AI agents. Investor Illuminate Financial pointed out that verifiable digital identity is a key infrastructure to promote institutional adoption of crypto assets.

Pencil Finance, an education finance RWA protocol, completes $10 million liquidity pool financing backed by Animoca Brands

According to official news, Pencil Finance, the RWA protocol for education finance (EduFi), announced the completion of a $10 million liquidity pool financing supported by Animoca Brands and Open Campus, which aims to support Pencil Finance's first batch of on-chain education loans and debt financing for education companies. The funds have been deployed in Pencil Finance's liquidity pool on the Open Campus EDU Chain. Pencil Finance will work with traditional education loan companies to bring education loans in Southeast Asia and the United States on-chain, opening up a new asset class for on-chain investors. At the same time, Pencil Finance helps lower interest rates on education loans by providing traditional education loan companies with on-chain interest-bearing opportunities.

Decentralized high-precision map protocol ROVR Network completes $2.6 million seed round financing

Decentralized high-precision map protocol ROVR Network completed a US$2.6 million seed round of financing, led by Borderless Capital and GEODNET, with participation from IoTeX and other institutions.

Kaia receives investment from top crypto VCs including 1kx and Blockchain Capital to accelerate large-scale Web3 adoption

According to Kaia's official announcement, Kaia DLT Foundation announced that it has received a new round of ecological growth funds from top crypto investment institutions such as 1kx and Blockchain Capital. Kaia promotes the popularization of Web3 in the Asian market by cooperating with Asian super application operators such as LINE and Kakao. Currently, Kaia has attracted more than 70 million users and plans to deepen its positioning as the "Asian Digital Dollar Gateway" through the "Stablecoin Summer" project.

Unto Labs raises $14.4 million to develop new RISC-V-based blockchain

According to Fortune, Unto Labs announced the completion of a $14.4 million financing led by Framework Ventures and Electric Capital, with a valuation of $140 million. Unto is developing its own blockchain and self-developed virtual machine ThruVM, based on the RISC-V architecture, aiming to improve compatibility with traditional hardware and lower the entry threshold for non-crypto developers. The funds will be used to expand the team size and accelerate product development.

Camp Network Completes $25 Million Series A Funding, Led by 1kx and Blockchain Capital

According to Fortune, Camp Network, a blockchain project focusing on AI copyright profit sharing, announced the completion of a $25 million Series A financing round, led by 1kx and Blockchain Capital, with participation from OKX, Lattice and Paper Ventures, with a valuation of up to $400 million. Camp Network is committed to building an on-chain storage and licensing platform for content creators and plans to launch cryptocurrency this year. Co-founder Murthy said that as AI companies gradually standardize the use of data, blockchain can become an important tool for verifying copyright compliance. It is worth noting that Camp Network’s official Twitter account subsequently announced that it had raised $30 million. In addition to 1kx and Blockchain Capital, Lattice, TrueBridge, Maven 11, Hypersphere, OKX and Paper Ventures also participated in the investment in Camp Network.

Privacy blockchain Miden completes $25 million seed round of financing, led by a16z Crypto, Hack VC, and 1kx

According to Fortune, Miden, a privacy blockchain project co-founded by a former Meta engineer, announced the completion of a $25 million seed round of financing, led by Andreessen Horowitz's crypto department, Hack VC, and 1kx, with participation from Finality Capital Partners, Symbolic Capital, and several crypto angel investors. Polygon Labs did not invest directly, but incubated Miden and reached an agreement to distribute approximately 10% of Miden's future tokens to Polygon token holders. Miden focuses on achieving transaction privacy through zero-knowledge proofs, while taking into account the performance and decentralization of blockchain.