What Happened on Jan. 11th｜Binance Acknowledges Past Flaws in Management of $BUSD Reserves

DeFi

• Data: $372 million of trading volume has gone through 1inch Fusion Mode.
• WOO Network will burn over 705 million $WOO tokens.
• pSTAKE will launch $stkATOM on 12th January 2023.
• MYSO v1 protocol is now live on Ethereum Mainnet.
• Ondo Finance brings US Treasuries and institutional-grade Bonds on-chain.
• DEX aggregator OpenOcean expands to Optimism.

CeFi

• Tension between DCG and Gemini intensifies as their managements continue on spats.
• Binance acknowledges past flaws in management of stablecoin's reserves.
• Ark Invest increased holdings in Coinbase by 33,756 shares.
• Coinbase to close most of Japan operations.
• ConsenSys plans to cut upwards of 100 staff.
• RedrubyDAO exploiter has transferred 326 $BNB to Tornado Cash.
• Market maker Group One discloses 13.5% stake in MicroStrategy.
• FTX shareholder list includes notables such as Peter Thiel and Tom Brady.
• Crypto.com will delist USDT for users in Canada.

Metaverse & NFTs

• Gala Games deleted a tweet announcing a partnership with Dwayne "The Rock" Johnson and Mark Wahlberg.
• Axie Infinity launches Origins Season 2.
• Bonk Inu will offer NFTs on Magic Eden.

Policy & Regulation

• Crypto exchange Zipmex probed by Thai SEC amid buyout.
• Former Coinbase Manager's brother sentenced to 10 months in prison for insider trading.

Fundings

• Venom Foundation and Iceberg Capital have partnered to launch a $1 billion venture fund.
• Cosmos-based DeFi protocol Quasar closes $5.4m funding round led by Shima Capital.

In-Depth Reading

The Shanghai Upgrade - Selling Pressure? Or Buying Pressure for $ETH

What is Frax Ether (frxETH) - Rating & Analysis