「Laozi」 drops over 40% in 4 hours, market cap falls to $6.11 million

2026-01-11 by admin

BlockBeats News, January 10th, according to GMGN market data, the Chinese meme coin “Laozi” has fallen over 40% in the past 4 hours, with its market cap dropping to $6.11 million, after previously exceeding $10 million. This Chinese meme concept coin originated from a tweet posted by Binance CEO He Yi.

BlockBeats Note: Meme coin trading is highly volatile, largely driven by market sentiment and speculative hype, with no intrinsic value or use cases. Investors should be aware of the risks.

PANews reported on January 11 that, according to Coindesk, Tennessee regulators have ordered Kalshi, Polymarket, and Crypto.com to cease offering sports event contracts to Tennessee residents, accusing the companies of violating the state's gambling laws by operating without the necessary licenses. These companies are currently registered with the U.S. Commodity Futures Trading Commission (CFTC) as designated contract markets, offering users the ability to purchase contracts based on the results of sporting events. However, under Tennessee's Sports Betting Law, any entity accepting bets on sporting events must hold a license issued by the state government.