Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn

The Daily: Binance launches pre-market spot trading, Caroline Ellison gets sentenced to two years in prison, Hamster Kombat teases roadmap and more

The BlockThe Block2024/09/25 17:51
By:James Hunt

Binance has launched a pre-market spot trading service that uses “actual tokens.”Former Alameda CEO Caroline Ellison was sentenced to two years in prison for her role in the collapse of FTX.Hamster Kombat teased token buybacks, NFTs and the launch of a web app ahead of its highly-anticipated airdrop.The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.

Happy Wednesday! In today's Daily, Binance launches pre-market spot trading, Caroline Ellison gets sentenced to two years in prison, Hamster Kombat teases its roadmap ahead of tomorrow's airdrop and more.

Meanwhile, Ikigai CIO Travis Kling discusses if crypto is quiet quitting in the latest episode of The Crypto Beat podcast.

Let's get started.

Binance launches pre-market spot trading

Binance has launched a pre-market spot trading service allowing users to take early positions before a token's official market listing.

  • Unlike competitors such as Bybit and Coinbase, Binance's pre-market service offers trading of "actual tokens," not derivatives, a spokesperson told The Block.
  • "Binance is the only crypto exchange to offer pre-market spot trading whereby tokens will be exclusively allocated and generated for users to hold and trade in the pre-market on the Binance platform," the firm said.
  • Binance's new service is powered by Binance Spot and Launchpool, which allows users to acquire new project tokens by staking BNB and other crypto assets.
  • With Binance Pre-Market, users can trade these tokens immediately, subject to restrictions like withdrawal, transfer and deposit limits until the official listing, the spokesperson added.
  • However, the service is not available in all regions, with residents of the U.S., Canada, Dubai, Japan, the Netherlands, Russia and Spain among the countries excluded.

Caroline Ellison sentenced to two years in prison

Former Alameda CEO Caroline Ellison was sentenced to two years in prison on Tuesday for her role in the FTX collapse, which caused billions of dollars in user losses.

  • Ellison, who is also the ex-girlfriend of former FTX CEO Sam Bankman-Fried, pled guilty to multiple fraud and money laundering charges in December 2022 and cooperated with authorities.
  • Testifying during Bankman-Fried's trial in March, Ellison said that he directed her to commit the crimes, including using FTX customer funds via an unlimited line of credit for the crypto trading firm she led.
  • Ellison's cooperation earned her a lighter sentence compared to Bankman-Fried's nearly 25 years, Judge Lewis Kaplan said.
    Other former FTX executives who cooperated with prosecutors, Nishad Singh and Gary Wang, also face sentencing in October and November, respectively.

Hamster Kombat teases token buyback, NFTs and launch of web app ahead of airdrop

Telegram tap-to-earn game Hamster Kombat teased its roadmap on Wednesday ahead of its highly-anticipated token airdrop on TON blockchain.

  • The team plans to use advertising revenue to buy back tokens from the market for redistribution and regular token burns.
  • Season 2 of Hamster Kombat will also introduce NFTs as in-game assets and launch a progressive web app for desktops, Apple and Android devices by November.
  • Hamster Kombat said that out of its more than 300 million registered players, 131 million had reached the qualification criteria for Thursday's token airdrop, while 2.3 million bots and "cheaters" were excluded.

Initia raises $14 million at $350 million token valuation

Initia has raised $14 million ahead of its mainnet and token launch , bringing its total funding to $22.5 million and its fully diluted token valuation to $350 million.

  • The Series A round was structured as a simple agreement for future equity with token warrants led by Theory Ventures, with participation from Delphi Ventures and Hack VC, among a series of angel investors.
  • Initia is developing a Layer 1 blockchain and an interconnected network of optimistic rollups, with 12 crypto projects currently building their Layer 2s using its stack.
  • Initia plans to launch its mainnet and token within the next two months, following a successful public testnet with over 125 million transactions, the team said.

Banana Gun promises to refund $3 million stolen from impacted users

Banana Gun promised to refund users affected by last week's $3 million exploit of 11 wallets associated with the Telegram bot that operates on Ethereum Virtual Machine and Solana networks.

  • "All impacted users will be fully refunded from the Banana Gun treasury, with no tokens being sold for reimbursements," the team posted on X.
  • The exploit may have been caused by a vulnerability in the Telegram message oracle used by Banana Gun, which the team identified and patched.

In the next 24 hours

  • U.S. GDP and jobless claims figures are released at 8:30 a.m. ET on Thursday.
  • U.S. Federal Reserve Chair Jerome Powell will speak at 9:20 a.m., followed by ECB President Christine Lagarde at 9:30 a.m. and U.S. Treasury Secretary Janet Yellen at 11:15 a.m.
  • The European Blockchain Convention concludes in Barcelona.

Never miss a beat with  The Block's daily digest  of the most influential events happening across the digital asset ecosystem.


0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Stake to earn
APR up to 10%. Always on, always earning.
Stake now!

You may also like

Legendary Analyst il Capo Shares Two Altcoins He Says He Accumulated in Recent Weeks

Cryptocurrency analyst il Capo of Crypto shared two different altcoins he has accumulated recently in his statement.

Bitcoinsistemi2024/09/25 20:18

A US Court Ruled in Favor of the SEC in a Cryptocurrency Case!

The SEC's allegations against a cryptocurrency company were deemed plausible by the judge, according to court data.

Bitcoinsistemi2024/09/25 20:18