The Sui network has recently seen significant asset inflows, with approximately $310 million migrating from Ethereum to Sui, indicating rapid growth in its ecosystem. Sui's Total Value Locked has exceeded $600 million, making it one of the top 10 in Decentralized Finance, attracting a large amount of stablecoins such as USDC and USDT. Sui plans to launch multiple new projects to further enhance its influence and appeal in the DeFi space.

Recently, the Crypto Assets industry has frequently experienced security vulnerabilities, causing panic among investors. The industry faces issues such as a lack of security standards and asset accomplice. In such an environment, investors need to carefully choose platforms, diversify risks, enhance personal security awareness, and seize investment opportunities amid market panic.

A London-based cryptocurrency market maker is seeking to raise up to $200 million, part of which will be used to help a Tokyo company reduce its 90% stake. The market maker's subsidiary acquired a 90% stake in 2020 after investing $30 million.

Legal Risks and Operational Recommendations for Crypto Assets Exchange
Recently, many people have inquired about the legal risks and practical operation methods of exchanging Crypto Assets (especially USDT). This article will briefly explore the legal risks and feasibility associated with some current exchange channels, aiming to help everyone use and dispose of Crypto Assets legally and in compliance.
It should be noted that this discussion is only for ordinary users whose sources of funds are legal and who purchase and hold Crypto Assets solely for personal daily consumption and normal investment activities.
1. Hong Kong licensed Crypto Assets exchange and brokerage channels
Currently, the Hong Kong Securities and Futures Commission has authorized licenses for 7 crypto asset exchanges (or operating entities), demonstrating the thriving trend of crypto assets in Hong Kong.
Based on practical experience, exchanging USDT through Hong Kong channels is a relatively legal and compliant way with lower legal risks. However, it should be noted that currently, USDT and other Crypto Assets cannot be directly traded on licensed exchanges.

This week, the Crypto Assets market has significantly fallen, with the market sentiment index dropping to 11%. The panic is due to the theft incident on the platform and concerns about economic recession. A few projects like LTC and SOSO are attracting attention due to high APY, but overall, there is still uncertainty, and investors are advised to operate cautiously.

[Coin World] Bank of America CEO Brian Moynihan reiterated the bank's cautious stance on stablecoins during a conference call for its earnings report on Wednesday, pointing out that the regulatory environment remains unclear and customer demand is lacking. Although the bank has "done a lot of work" researching stablecoins, Moynihan emphasized that adoption will depend on a clear legal framework and actual demand.

SBI Holdings, which holds a 90% stake in the Crypto Assets market maker B2C2, is seeking external investors to raise up to $200 million to help SBI Holdings reduce its stake. Both B2C2 and SBI Holdings declined to comment on the matter.

The article looks forward to the development of the Web3 field in 2024, emphasizing the innovation of blockchain technology and its deep integration and maturation in the Decentralized Finance, Web3 gaming, and NFT markets. The Ethereum ecosystem will drive significant technological advancements, regulatory transparency and cross-chain interoperability will be significantly enhanced, and it is expected to attract a broader range of market participants.

The cryptocurrency market is undergoing changes, with the altcoin hotspot shifting from Solana to BSC and Base chain. Analysts are optimistic about Bitcoin's short-term trend, expecting it to break through $110,000. Meanwhile, non-farm payroll data has alleviated concerns about an economic recession, and the market is following recent macroeconomic data and the launch of several new projects.

The current fluctuations in the crypto market are mainly due to the anxiety over the value rise after BTC's price broke new highs. The market's expectations for BTC as an anti-inflation tool are being challenged, especially after a certain tech giant refused to include BTC in its asset allocation, leading to price volatility. Although BTC is unlikely to replace gold in the short term, its potential as a new strategy to enhance the revenue of listed companies could become a core element in driving economic growth, and it is worth following.