Biton Daily News (January 28th)

Hot News:

1. NVIDIA's Market Value Shrinks Due to DeepSeek Concerns, Record Drop in US Stock Market: NVIDIA's stock price dropped significantly due to investor concerns over the Chinese AI startup DeepSeek, causing a record market value loss. The stock price plummeted 13%, and the company’s market value evaporated by about $465 billion, surpassing the previous record of a 9% drop in September last year ($279 billion).

2. Brazil's National Data Protection Authority Orders World to Stop Offering Services to Local Users: Brazil's National Data Protection Authority (ANPD) has ordered the company Tools for Humanity (TFH), behind the World ID project, to cease offering services to Brazilian users starting on January 25th. The investigation began after the World ID project launched in Brazil in November last year.

Important Data:

1. US Stock Market Lost Over $787 Billion on Monday: Data shows that the US stock market lost more than $787 billion on Monday.

2. $633 Million Liquidations in the Last 24 Hours, Majority in Long Positions: According to Coinglass, the last 24 hours saw $633 million worth of liquidations, with 239,681 traders affected. Long positions accounted for $472 million, while short positions accounted for $161 million. BTC had $154 million in liquidations, and ETH had $124 million.

Project Updates:

1. Pixion Games, a Web3 Game Studio, Raises $12.4 Million, Led by Delphi Ventures: Web3 game studio Pixion Games announced a $12.4 million funding round, led by Delphi Ventures and followed by Spartan Capital, Sky Mavis, L1D, Arete Capital, Animoca Brands, YGG, and others. The funds will be used to create a seamless mobile-first Web3 gaming experience.

2. Humanity Protocol Secures $20 Million Funding, Led by Pantera Capital: Humanity Protocol, a blockchain-based identity verification company, raised $20 million in funding, led by Pantera Capital and Jump Crypto, achieving a fully diluted valuation of $1.1 billion. The company plans to use palm scanning for online account verification and expand its product in the coming months.

3. Ripple Receives Money Transmitter Licenses in New York and Texas: Ripple, a digital asset infrastructure company, has obtained Money Transmitter licenses in New York and Texas, aiming to expand its business in the US. This license will allow customers to access Ripple’s cross-border payment solutions in the US and manage transactions end-to-end. Ripple stated that demand for compliant real-time global payments is high in these states.

4. TON Announces 2025 H1 Update Plan, Including Launch of Payment Network Layer 2: The TON Core team will roll out updates in the first half of 2025, including a major "accelerator" core update, new tools for validators, improved Toncenter API, UX enhancements, and partnerships with community products. They will launch a Payment Network Layer 2 and conduct sidechain research, among other developments.

Other News:

1. MicroStrategy Announces New Convertible Preferred Stock Offering "STRK": Michael Saylor announced via X platform that MicroStrategy is launching a new convertible preferred stock offering "STRK", raising $250 million for institutional and select retail investors. The offering will have an 8% coupon rate, with Barclays, Moelis & Company LLC, BTIG, TD Cowen, and Keefe, Bruyette & Woods acting as joint book-running managers.

2. KuCoin Agrees to Pay Nearly $300 Million Settlement to US Authorities, Admits to Operating Unlicensed Remittance Services: The US Department of Justice announced that KuCoin has admitted to operating unlicensed remittance services and agreed to pay nearly $300 million in settlement. As part of the agreement, PEKEN Global Limited, operating under the KuCoin brand, pleaded guilty in Manhattan Federal Court. The settlement includes a $184.5 million seizure and a $112.9 million fine. KuCoin will exit the US market for two years.

3. US Senate Approves Scott Bessent as Treasury Secretary, Will Lead Crypto Policy Development: The US Senate has approved Scott Bessent’s nomination to replace Janet Yellen as Treasury Secretary with 68 votes to 29. Bessent, a well-known supporter of digital assets, will lead a government working group to develop crypto regulatory strategies and oppose US Central Bank Digital Currency (CBDC). He will also oversee the Financial Crimes Enforcement Network (FinCEN), which focuses on enforcing crypto-related regulations in areas such as human trafficking and child exploitation.