WuBlockchain Weekly: Top10 News
Colin Wu . 2024-02-16 . Data

1. US January Unadjusted CPI Annual Rate at 3.1%, Expectation at 2.90% link

In January, the seasonally adjusted CPI (Consumer Price Index) in the United States showed an annual rate of 3.1%, slightly above the expected 2.90%, but lower than the previous value of 3.4%. Meanwhile, the seasonally adjusted core CPI, which excludes volatile food and energy prices, stood at 3.9%, surpassing the expected 3.70% but in line with the previous value of 3.9%.

Analysts point out that considering the super-core prices, inflation appears to be even more robust. This category is closely monitored by the Federal Reserve. Currently, the possibility of an interest rate cut in March seems to be firmly ruled out, and even the likelihood of a rate cut in May is in question. Following the Fed’s recent communications and robust employment data, there is evidently no urgent need for an immediate rate cut. Concerns about ongoing inflation risks remain paramount.

2. MicroStrategy’s Bitcoin Holdings Surpass $10 Billion, Profits Exceed $4 Billion link

As the price of Bitcoin rose to just below $53,000, MicroStrategy (MSTR) surpassed holdings of over $10 billion, with profits exceeding $4 billion. MicroStrategy held 190,000 Bitcoins at the end of January, purchased for a total of $5.93 billion, equating to $31,224 per token.

3. Bitcoin Denominated in Yen Hits Historic High of ¥7.9 Million per Coin link

Bitcoin reached a historic high of 7.9 million yen on the Japanese cryptocurrency exchange bitFLYER earlier this week. In comparison, the price of Bitcoin in USD stands at $52,000, marking a 32% difference from its all-time high of $69,000 set in November 2021. This price differential reflects the pressure on the Japanese yen amid the Bank of Japan’s (BOJ) sustained loose monetary policy and inflationary resurgence. Japan’s core inflation climbed by 3.1% in 2023, marking the largest increase since 1982, while the yen depreciated by 8% in 2023.

4. Franklin Templeton Submits Spot Ethereum ETF Application to SEC link

Franklin Templeton has submitted an application to the U.S. Securities and Exchange Commission (SEC) for a spot Ethereum ETF. The asset management firm joins the ranks of BlackRock, Fidelity, Ark and 21Shares, Grayscale, VanEck, Invesco, Galaxy, and Hashdex, among others, which have all submitted applications in recent months.

5. Peter Thiel’s Founder Fund Makes $200 Million Cryptocurrency Investment Before Bull Market link

Billionaire Peter Thiel’s venture capital firm, Founders Fund, has once again invested in Bitcoin and ETH. From late summer to early fall last year, the fund invested $200 million to acquire cryptocurrency tokens, with half in Bitcoin and the other half in ETH. Sources indicate that during last summer, Founder’s Fund began purchasing Bitcoin when it was below $30,000 and continued to acquire more Bitcoin and ETH over the following months.

6. Reserve Bank of New Zealand Governor Issues Warning on Stablecoins and Other Cryptocurrencies link

New Zealand Reserve Bank Governor Adrian Orr has issued a warning regarding stablecoins and other cryptocurrencies, asserting that they cannot replace fiat currencies. Orr stated that stablecoins are the “biggest misnomer” and a “contradictory concept.” Stablecoins are not stable, as their value entirely depends on the balance sheet of their issuer. Fiat currencies are more trustworthy than stablecoins because they are backed by government support.

7. Court Approves Genesis Sale of $1.3 Billion Worth of GBTC Shares link

Cryptocurrency lending firm Genesis Global Holdco LLC has been granted permission by the bankruptcy court to initiate the redemption of approximately 35 million shares of Grayscale Bitcoin Trust (GBTC) valued at over $1.3 billion. The redemption aims to compensate clients who borrowed digital assets from Genesis. Judge Sean Lane stated on Wednesday that he would approve Genesis’s request to convert GBTC shares into Bitcoin or cash, with the process being facilitated by a broker and carried out gradually.

8. Binance’s Weekly Summary

a. CNBC: CZ’s Criminal Judgment Postponed Until Late April link

The latest notice from the Seattle Federal Court indicates that the criminal sentencing regarding money laundering charges against Binance founder CZ has been postponed until April 30th. The reason for the sentencing delay remains unclear. CZ’s lawyer, William Burck, declined to comment on the postponement, and the U.S. Department of Justice has not responded to this delay. CZ was originally scheduled to be sentenced on February 23rd.

b. FDUSD Trading Pair Sets Historical High in Spot Trading Volume on Binance, Accounting for 38% link

The trading pairs involving FDUSD and its listings on Binance have reached the highest share of spot trading volume on the exchange to date. According to data from The Block Pro Data Dashboard, on February 12th, trading pairs including FDUSD accounted for 38% of the total spot trading volume on Binance. This represents a 42.6% increase compared to the previous month. Rebecca Stevens, a senior research analyst at The Block, suggests that FDUSD may gain popularity on Binance due to the ability to freely trade BTC/FDUSD and the absence of maker fees on most FDUSD currency pairs. The formal termination of support for BUSD by the exchange may also prompt some users to transition to the new stablecoin.

9. MEXC Exchange Bans a Large Number of Users Without KYC, Identified as from Mainland China link

Recently, MEXC Exchange has begun mass banning users from mainland China who have not completed KYC (Know Your Customer) verification. Once identified, these users will only retain permissions for closing contracts and withdrawing funds. Earlier, platforms like Bybit and KuCoin have also implemented similar strategies.

10. Starknet to Distribute Over 700 Million STRK Tokens on February 20 link

The Starknet Foundation has officially released the Provisions allocation outline, with STRK token distribution scheduled for February 20th. This distribution totals over 700 million STRK tokens, with approximately 1.297 million wallets qualifying for claiming. Eligible recipients include early users of ecosystem dApps, network contributors, Ethereum builders, and open-source developers from outside the web3 ecosystem. The claiming period extends until June 20th. Starknet has outlined the airdrop criteria as follows: As of the snapshot date on November 15, 2023, users must: (1) Execute more than 5 transactions in total; (2) Have an active period of three months or more; (3) Have a transaction volume of $100 or more; (4) Hold 0.005 ETH or more in their account at the snapshot time on November 15, 2023. Users meeting these conditions will be deemed eligible for the airdrop.


  • UniSat announced that OKX Ventures led its Pre-A round financing. link
  • YogaPetz completed a financing round exceeding $5 million, with Animoca Brands among the leading seed investors. link
  • Oracle project Truflation announced the completion of a $6 million financing round. link
  • Web3 game studio Great Big Beautiful Tomorrow completed a $3 million seed round financing. link
  • Blockchain interoperability project Analog completed a $16 million financing round. link
  • MPC wallet platform Fordefi announced the completion of a $10 million financing. link
  • Web3 game production and publishing platform Ultiverse completed a $4 million strategic round financing. link
  • Architect, founded by former FTX US president Brett Harrison, completed a $12 million financing. link
  • Game studio Overworld announced the completion of a $10 million seed round financing. link
  • Modular blockchain developer Lava completed a $15 million seed round financing. link

Learn more, check out crypto-fundraising.info.

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