Posts from the 'Quoted' Category

CZ: “Binance Did Not Support Bybit… It Was a Whale Transfer”

CZ: “Binance Did Not Support Bybit… It Was a Whale Transfer”
  • The large transfer of Ethereum from Binance to Bybit was revealed to be a personal transaction by a specific whale, not official support from Binance.
  • Binance founder CZ explained that he cannot take credit for the transfer as it was not official support from Binance.
  • Despite recent hacking damages, Bybit announced that customer assets are safe and they have processed over 99% of withdrawal requests.

It has been revealed that the large transfer of Ethereum (ETH) from Binance to Bybit was not an official support from Binance but rather a personal transaction by a specific whale investor.

On the 21st (local time), blockchain expert Andy Lian stated through his X, “Binance has stepped up to support liquidity stability for its competitor Bybit,” noting that “this contrasts with typical industry competition.” He mentioned Binance founder CZ, saying “protecting consumers comes first, and the community is the top priority.”

However, Binance founder CZ directly commented on this, explaining “The transfer appears to be from users,” and “It’s likely that a specific whale provided a loan to Bybit.” He added, “We cannot take credit for this as it’s not official support from Binance.”

Previously, when a large amount of Ethereum was transferred from Binance to Bybit, industry speculation suggested that Binance had stepped in to support liquidity for Bybit, which recently suffered massive hacking damages. However, through the founder CZ’s explanation, it was confirmed that this was simply a large-scale personal transaction.

Meanwhile, Bybit recently suffered damages from a hacking attack that resulted in the theft of approximately 401,347 Ethereum. Bybit CEO Ben Zhou stated, “Customer assets are safely stored, and we have processed over 99% of withdrawal requests,” confirming that there are no issues with the exchange’s ability to pay.

 

Source: https://bloomingbit.io/en/feed/news/83728

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
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Kaito AI airdrop sparks tokenomics, early selling concerns

Kaito AI airdrop sparks tokenomics, early selling concerns

Kaito AI, a crypto intelligence platform, has allocated nearly 20% of its token supply to future airdrops and incentives, fueling enthusiasm among early adopters while raising concerns over tokenomics.

The platform, which brands itself as the “ultimate Web3 information platform,” is preparing for its first airdrop, allocating 10% of its total token supply to its early community members and ecosystem participants.

“For the Initial Community and Ecosystem Claim – 10%. This allocation includes the initial Kaito Yapper community, Genesis NFT holders, and ecosystem yappers and partners,” Kaito AI wrote in a Feb. 20 X post.

According to the platform, 56.6% of the total supply will be distributed to the community and ecosystem, with 19.5% specifically designated for initial and long-term airdrops and incentives.

The platform is introducing new dynamics for the crypto marketing industry, according to Marcin Kazmierczak, co-founder and chief operating officer of RedStone, a blockchain oracle solution firm.

“Currently, I do not know a single serious marketer that wouldn’t use Kaito stack,” he told Cointelegraph, adding:

“Kaito has changed the way crypto marketing operates. Previously, it was mainly about views and impressions, however, Kaito introduced a new metric, Smart Followers. It allows one to measure how many respected or active crypto accounts interacted with or followed a specific account.”

Despite the platform’s innovation, some analysts have expressed concerns over its tokenomics, particularly regarding the allocation to insiders, which could create selling pressure after the airdrop.

Kaito tokenomics spark allocation, selling concerns

Similar events are often riddled with airdrop squatters, or professional airdrop hunters, who farm protocols with an incoming airdrop in hopes of financial gain. In 2023, the Arbitrum (ARB) airdrop saw airdrop hunters consolidate $3.3 million worth of tokens.

Kazmierczak said Kaito’s airdrop structure is designed to prevent farming.

“Today’s airdrop allocation will be defined by the number of Yaps collected, which were very hard to bot, and Kaito genesis NFTs held at the snapshot.”

Still, onchain analysts have pointed out that a significant portion of the token supply is allocated to insiders. According to onchain investigator RunnerXBT, 43.3% of Kaito’s total supply is designated for insiders, including 35% for the team and 8.3% for early investors.

Cointelegraph has reached out to Kaito for comment but did not receive a reply by the time of publication.

Some analysts have also warned of a potential sell-off following the airdrop, particularly given the current market downturn.

Anndy Lian, an intergovernmental blockchain expert and author, suggested that Kaito’s token could follow a familiar pattern of hype-driven spikes followed by sharp declines:

“As for Kaito itself, I see a classic pattern: big hype, big spike, then a massive sell-off. Even if [the initial supply] is vested (which seems likely with allocations for liquidity and early backers), a lot of folks — especially those who farmed points just before with hyped airdrops: starts high, ends low.”

Crypto investor interest in airdrops saw an uptick on Jan. 15, after the total value of the Hyperliquid (HYPE) token airdrop soared to $7.5 billion, Cointelegraph reported.

 

 

Source: https://www.tradingview.com/news/cointelegraph:358b8509b094b:0-kaito-ai-airdrop-sparks-tokenomics-early-selling-concerns/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j

Canary Capital launches Axelar Trust targeting institutional investors

Canary Capital launches Axelar Trust targeting institutional investors

Digital asset investment firm Canary Capital has launched a new Axelar private investment fund, giving institutional investors direct access to the interoperability network’s native token, AXL.

According to a Feb. 20 announcement, the Canary AXL Trust will be available to institutional and accredited investors. Currently, Axelar has a market capitalization of more than $444 million and nearly $1 billion in total value locked (TVL), according to Flipside Crypto.

Axelar’s interoperability stack went live in October, allowing decentralized applications to connect with various blockchains, including Solana, Stellar and Sui. Axelar’s technology also allows developers to tokenize real-world assets, including real estate, commodities and intellectual property.

Canary cited Axelar’s major institutional partnerships with Apollo Global Management, JPMorgan and Deutsche Bank as one of the reasons for launching an AXL fund.

“In addition to evaluating top 20 market cap protocols, we are evaluating a handful of top 100 market cap protocols that have strong teams of developers that are building real applications and platforms [and] have the potential, based on developer interest along with launching product, to win in their category and make it to a large market cap,” Canary Capital CEO Steven McClurg told Cointelegraph.

“Axelar qualifies in the category of interoperability,” said McClurg. “There is already demand for AXL among qualified investors.”

Institutional demand for crypto is growing

The launch of Canary’s new trust coincides with a boom in institutional demand for crypto assets. Unlike the closed-ended AXL Trust, Canary is also pursuing open-ended exchange-traded funds (ETFs) with exposure to Solana, Litecoin and XRP.

The applications were submitted following the overwhelming success of the US spot Bitcoin ETFs, which sucked in nearly $40 billion in net assets in 2024. Bitwise’s Matt Hougan believes the US Bitcoin funds could attract more than $50 billion in investor inflows this year.

Increased regulatory clarity in the United States under President Donald Trump is expected to see more institutional uptake of digital assets in the near future, Chainalysis CEO Jonathan Levin told Cointelegraph in January.

Industry executives have also cited President Trump’s executive order banning the creation of a central bank digital currency as a major driver of institutional adoption.

“This move tells you where Trump stands: He’s betting on the existing crypto market rather than creating government-backed digital dollars. It’s a vote of confidence in Bitcoin, Ethereum and others, potentially giving them a boost in legitimacy and market value,” Anndy Lian, an intergovernmental blockchain adviser, told Cointelegraph.

Representatives from the crypto and institutional investment industries recently met with President Trump’s Crypto Task Force to discuss ways to open up the market to more established players. They requested clearer guidelines around exchange-traded products and protocol staking, among others.

 

Source: https://cointelegraph.com/news/canary-capital-launches-institutional-axelar-fund

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
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