BlockBeats
Created on 2023-05-24 10:02
收藏
每周资讯回顾

BlockBeats will summarize the industry's key news content for the week (10.30-11.05) in this article, and recommend in-depth articles to help readers better understand the market and learn about industry trends.


Weekly News Recap


Justin Sun's platform Poloniex was hacked for over $100 million, and the hacker bought TRX causing its price to soar

On November 10th, according to PeckShieldAlert, the cryptocurrency exchange Poloniex experienced an unusually large amount of funds being transferred out, suspected to be a result of an attack. Poloniex's losses are currently estimated to be over $114 million, with $49 million coming from the TRON network. Poloniex's official statement said that the exchange's wallet has been disabled for maintenance, and once the wallet is re-enabled, they will update the public. After stealing the funds, the hacker transferred them to multiple new addresses, with the address starting with 0x0A59 having purchased over 206 million TRX, worth approximately $22.8 million. Subsequently, that address transferred 10.514 million GLM to the Golem Network token contract address, worth approximately $2.56 million.



Bitcoin ecosystem strengthens wealth effect, Binance launches ORDI; RGB, Atomicals protocols attract attention

This week, the Bitcoin ecosystem has reached a high point of popularity, with multiple ecological protocols continuously rising in value. On November 7th, Binance launched Ordinals (ORDI) and opened spot trading pairs, followed by the launch of ORDI's 1-50x U perpetual contract, pushing fomo sentiment to a high point. At the same time, the BRC-20 token sats has also become the focus of profit-seekers, with a 24-hour increase of up to 43.89%. In addition to the tokens on the Ordinal protocol, protocols such as Atomicals and RGB have also attracted user attention.

Related reading: "Binance launches ORDI, questioned by Ordinals founder, and trading platform doesn't understand what BRC is?", "BTC derivative protocols: Who has the most potential alpha?"



SEC Chairman: Restarting FTX under new leadership with clear understanding of the law is possible

On November 9th, Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), stated that if Tom Farley, CEO of Bullish, a cryptocurrency trading platform under Block.one, or anyone else wanted to restart FTX, I would say, "Act within the legal framework." If the new leadership team operates with a clear understanding of the law, it is possible to restart FTX.

In addition, Gensler stated, "Build investor trust in what you're doing, make sure you're making appropriate disclosures - and don't mix all these functions together, don't become a counterparty to your customers. Or use their crypto assets for your own purposes." Subsequently, the prices of tokens related to the bankruptcy section skyrocketed, and FTT once broke through $4.



Binance Announces Launch of Web3 Wallet

Binance announced the official launch of the Binance Web3 wallet at the "Binance Blockchain Week" in Istanbul. The wallet is a self-hosted cryptocurrency wallet built into the Binance app, supporting the exchange of thousands of tokens across multiple networks, various DApps, and allowing users to quickly transfer funds between the trading platform and the wallet, as well as earn profits using cryptocurrencies. The Trust Wallet Chinese channel forwarded BlockBeats' tweet mentioning that Binance's Web3 wallet is supported by the Trust Wallet team. Related reading: "Binance Web3 Wallet First Experience, Better Than OKX?", "Trust Wallet May Help Binance Again After Acquisition, TWT Rises Over 20% in 24 Hours"



BlackRock iShares Ethereum Trust Successfully Registered in Delaware

On November 9th, according to relevant data, BlackRock iShares Ethereum Trust was successfully registered in Delaware.



NEO's dual-token model sees volatile fluctuations in GAS prices, drawing attention back to the veteran public chain

The price of GAS has surged by over 140% in a single week, reaching a high of $28. GAS is the burning token in NEO's dual-token model, and this three-week-long rally has once again brought attention to the veteran public chain, which was co-founded by Da Hongfei and Zhang Zhengwen in 2014 under the name Antshares before being rebranded as NEO in 2017. However, as of the time of this report, GAS has plummeted by over 30% in a single day and is now trading around $13. NEO founder Da Hongfei stated on Discord that "I have no right to comment on other people's investment choices, but I can confirm that NEO Global Development (NGD) and NEO Foundation (NF) have not participated in any NEO/GAS trading activities, except for expenses related to normal operations."

Related reading: "Is the veteran public chain Neo rising again? Fuel token GAS's crazy surge attracts attention".



"The Simpsons" mentions NFT and blockchain, and the related NFT floor price briefly rose to 0.35 ETH before plummeting

On November 6th, last Sunday evening in the United States, NFT and blockchain were prominently featured in "The Simpsons". In the Halloween special episode of the iconic animated series "Treehouse of Horror 34", the show repeatedly mentioned the overvaluation of NFTs on the blockchain in the first chapter titled "Wild Barts Can't Be Broken".

On the same day, the "Springfield Punks" NFT series, based on "The Simpsons", was released and made available for free minting by its creator Rino Russo. The NFT project's floor price briefly rose to 0.35 ETH, but has since fallen back to 0.026 ETH. It is reported that Rino Russo has been focusing on creating "The Simpsons" related artwork for many years, and the Springfield Punks NFT series was first planned in August.



NEAR Foundation and Wintermute $10 million dispute, NEAR co-founder Illia Polosukhin appointed as CEO of the foundation

On November 8th, Wintermute founder and CEO Evgeny Gaevoy posted on social media that NEAR Foundation and Aurora refused to fulfill their commitment to sell stablecoin USN worth $11.2 million to FTX. In response, Illia Polosukhin, who was newly appointed as the CEO of NEAR Foundation this week, stated that Wintermute's redemption request is inconsistent with protecting individuals affected in the NEAR ecosystem. Wintermute's purchase of USN from Alameda also raised significant concerns about KYC/AML, as the source of USN is suspicious and may be related to illegal activities and/or may be subject to future litigation or court orders. In addition, Wintermute is trying to use USNPP for last-minute arbitrage to profit from the USN spread provided by Alameda estate. Wintermute's desire to end arbitrage by purchasing bad assets is inconsistent with the purpose of USNPP, so ABL rejected Wintermute's request.

Related reading: "NEAR Foundation refuses to fulfill $10 million commitment, 'Yilong' publicly argues with Wintermute on the first day of his return"



Elon Musk's Grok model becomes "with single wealth password", and counterfeit tokens emerge one after another

Elon Musk announced on social media that the AI model Grok system has been released. Musk has always had close ties with the cryptocurrency industry. After the model was released, some people immediately deployed tokens with the same name on the chain, trying to speculate for profit. The first batch of ERC-20 GROK tokens appeared on November 4th, with 4,300 holders. According to BlockBeats, there are currently more than 600 tokens named "GROK" on Ethereum alone, with different price fluctuations. Related reading: "Grok model becomes 'with single wealth password', rising five times in two days"



Shardeum Whitepaper Reveals: SHM Token Set with a Maximum Limit of 508 Million, 51% Will Be Allocated to the Community as Node Rewards

On November 9th, Shardeum, a Layer1 blockchain based on EVM, released its whitepaper. The Shardeum token (SHM) is designed as a deflationary asset with a fixed maximum supply of no more than 508 million, which will not be changed by any future voting. In addition, all transaction fees will be burned and not paid to any miners or validators, making SHM increasingly scarce in design. SHM tokens confiscated from validators will also be destroyed, further increasing the scarcity of SHM. With the maturity of Shardeum technology and wider adoption, it is expected that the supply of SHM will become extremely deflationary, as the number of tokens burned will exceed the number of tokens distributed as node rewards.




This Week's Popular Articles


BTC Derivative Protocol: Who is the Most Promising Alpha?

This article introduces the advantages of protocols such as RGB, Lightning, TaprootAssets, BitVM, Atomicals, Ordinals, RSK, STX from the perspectives of legitimacy and potential. While BTC ETF speculation is skyrocketing, the ecosystem of BTC derivative protocols is also rapidly developing. Only a protocol that has both the enthusiasm for speculation and legitimacy in the community has the potential to become a truly promising alpha.



Six Bitcoin Wallet Beginner Interaction Tutorials, Don't Miss the Next Wealth Password Again

Many Bitcoin ecological projects have emerged, and each project has launched its own Bitcoin wallet. Users must configure the corresponding wallet product in advance when participating in these "new games", otherwise they will miss the opportunity to "grab the head mine". This article summarizes the registration and usage methods of recent popular Bitcoin ecological protocol wallet products for readers' reference.



Bitcoin ecosystem news|"Zoo Series" BRC-20 tokens and NFTs surge across the board
On November 7th, Binance announced the launch of ORDI 1-50x U perpetual contract. This news attracted more attention to the already active Bitcoin ecosystem. With the launch of UniSat Wallet's brc20-swap mainnet on October 31st, several BRC-20 tokens named after various animals that were deployed as early as March were wiped out in the past week, including cats, foxs, BEES, owls, fish, $PIG, bird, cock, lion, etc. The prices of these "animal coins" have risen along with the active atmosphere of the Bitcoin ecosystem.



被低估的 RGB 协议,BTC 复杂生态的坚实根基
Translated:

The underestimated RGB protocol, a solid foundation for the complex BTC ecosystem

Recently, the Bitcoin ecosystem has been hot, and the encryption researcher DaPangDun has expressed his views on the future and current status of the RGB protocol. The RGB protocol has been around for a long time and has strong legitimacy, reflecting the innovation of the BTC ecosystem. In this article, the author also introduces potential projects and participation opportunities in the RBG ecosystem.



Looking for the next "BRC20": Mining Atomicals (ARC20) and Lightning Network

The Lightning Network for Bitcoin will be to currency what Visa is to money. The BRC20 and ETHS tracks have already produced strong wealth effects, and there are still many concepts and projects to be mined in the BTC ecosystem, such as the RGB protocol and BitVM. This is just the beginning. This article introduces Atomicals (ARC20) and the Bitcoin Lightning Network. Let's take a look at how to participate in ARC20.



Two-day surge of 5 times, Musk's Grok model becomes "wealth password with a single belt"
On November 5th, Elon Musk announced that the AI model Grok system has been released. For the cryptocurrency industry, a highly focused name will not only be limited to discussions, and Grok has become the object of speculative attention. According to on-chain data, the first batch of ERC-20 GROK tokens appeared on November 4th, with 4,300 holders. BlockBeats has learned that there are currently over 600 tokens named "GROK" on Ethereum alone, with varying price fluctuations.



盘点 7 个 Binance 潜在上线合约的币种
Translation:

Checklist of 7 potential contract currencies for Binance listing
A few days ago, BADGER quickly caught the market's attention after experiencing consecutive 2-day increases of over 20%. Binance subsequently announced the launch of U-based contracts on November 9th, which helped to further boost the market. This move is also a standard process for Binance's recent contract launches. According to Look on Chain data, there are currently 65 currencies on the Binance platform that only have spot trading and no contracts. BlockBeats has identified 7 currencies that have recently been hot and worth paying attention to.







-The US October CPI and PPI data were released on November 14th and 15th, respectively.



How will spot ETFs kick off the next bull market for Bitcoin?

The largest cryptocurrency by market value, Bitcoin, has been developing rapidly recently, mainly due to the expectation that Bitcoin spot ETF will soon be approved in the United States. The reasons for the SEC's refusal of the ETF are becoming less and less, the decision time is being postponed time and time again, and the SEC has given up on appealing the Grayscale ruling, etc... All signs indicate that the time for the spot Bitcoin ETF to be approved seems to be getting closer and closer. According to a recent report by JPMorgan, the SEC may soon approve multiple applications for spot Bitcoin ETFs, with the most likely approval time being before January 10, 2024.



Pixels 2nd Anniversary: Carrying the Metaverse Pixel Wind Farm Chain Game of Ronin Ecology



Welcome to join the official community of LUDONG BlockBeats

Telegram communication group: https://t.me/theblockbeatsApp


#Binance#BRC-20
2023-11-12 11:47

BlockBeats will summarize the industry's key news content for the week of 10.30-11.05 in this article, and recommend in-depth articles to help readers better understand the market and industry trends.


Weekly News Recap


FTX Founder SBF Found Guilty of Fraud in New York

On November 3rd, Sam Bankman-Fried, the founder of FTX, was found guilty of defrauding customers of his now-bankrupt cryptocurrency trading platform, in one of the largest financial fraud cases on record. After a month-long trial, a jury of 12 at the Manhattan federal court found him guilty of all seven charges he faced, with prosecutors alleging that he stole $8 billion from the trading platform's customers purely out of greed. SBF pleaded not guilty to two counts of fraud and five counts of conspiracy. Read more: "SBF found guilty on all seven charges, FTX chapter comes to a close."



Bitcoin White Paper Released 15th Anniversary

On October 31st, it has been 15 years since Satoshi Nakamoto published the Bitcoin white paper "Bitcoin: A Peer-to-Peer Electronic Cash System" on the P2P Foundation website. Gary Gensler, the chairman of the US SEC, congratulated the 15th anniversary of the BTC white paper release on social media. Related reading: "15 Years of Bitcoin: The Story Behind 43 Million Times Growth", "Commemorating the 15th Anniversary of the Bitcoin White Paper: How I Got Bitcoin Airdrop in 2011?".



Bitcoin ecosystem heats up: New protocol Taproot Assets launches airdrop; game "Pixel Wars" on Ordinals gains attention

Lightning Labs has launched a new Bitcoin protocol called Taproot Assets, which has sparked great interest and attention in the Bitcoin ecosystem by offering users an airdrop. For more information, please read "Bitcoin's new Taproot Assets protocol goes live on the mainnet, quick guide to claiming airdrops". Meanwhile, the game "Pixel Wars" on Ordinals has also gained attention.


The total amount of Ordinals inscriptions minted under the Bitcoin NFT protocol has exceeded 37 million, reaching 37,291,753. Data shows that the minting volume of Ordinals inscriptions has significantly rebounded in the past 10 days compared to the period from late September to late October.


The first recursive inscription game "Pixel Wars" on the Bitcoin ecosystem Ordinals is online, and participants in the Bitcoin ecosystem are eager to experience it. Related reading: "Pixel Wars: The first recursive inscription game on the Bitcoin ecosystem Ordinals".



LayerZero announces new standards, met with joint opposition from nine other cross-chain projects

Last week, cross-chain interoperability protocol LayerZero announced the launch of the wrapped stETH (wstETH) function for transferring liquidity collateral protocol Lido Finance on Ethereum, Avalanche, BNB Chain, and Scroll. This move was met with joint opposition from nine cross-chain projects, including Connext, Across, Celer Network, ChainSafe, Sygma, LI.FI, Socket, Router Protocol, and Cross-chain Interoperability Alliance.


They expressed concern in a joint letter about LayerZero's recent actions: "LayerZero deployed the proprietary standard of wstETH to Avalanche, BNBChain, and Scroll without the support of Lido DAO. We believe that this action is a direct consequence of the collapse of the interoperability incentive system, which can only be repaired through healthy competition at every layer of standardization and bridging stack." Related reading: "LayerZero is jointly criticized by nine peers, the real business war behind the cross-chain bridge".



Aragon Association announced dissolution, ANT holders can exchange tokens for ETH

The Aragon Association committee responsible for managing the fundraising of network token sales has been dissolved, and Aragon will continue to build its mission centered around products. ANT holders can exchange ANT for ETH at a fixed exchange rate of 0.0025376 ETH/ANT. To do so, the Aragon Association is deploying 86,343 ETH to the redemption contract on the Ethereum mainnet. Due to legal restrictions, particularly regulatory risks arising from token speculation and market manipulation, this decision cannot be subject to public voting. In the future, Aragon will continue to fulfill its mission in a product-centered structure and use the remaining funds for product development.



Paypal Receives Subpoena from SEC Regarding Its USD Stablecoin PYUSD

On November 2nd, payment company PayPal Holdings (PYPL.O) announced on Thursday that it has received a subpoena from the U.S. Securities and Exchange Commission (SEC) regarding its USD stablecoin. The company launched the stablecoin in August, becoming the first major fintech company to use digital currency for payments and transfers.



Taichung's largest virtual currency money laundering operator arrested, laundering over 320 million USDT in a year

According to the United Daily News, the Criminal Investigation Bureau's Cyber Crime Investigation Division in Taiwan cracked a fake Taishin Securities mobile app fraud case last year. During the investigation, they traced the flow of stolen money and found that a money laundering operator surnamed Qiu was suspected of using virtual currency to launder money. Qiu frequently traveled to Southeast Asian countries such as Malaysia. In June of this year, the police arrested Qiu and three other suspects when they returned to Taiwan. Subsequent investigation of Qiu's phone records revealed that he had handled 320 million USDT from February of last year to the present.



OKX, Coinbase, and Binance list Celestia (TIA)

Binance listed Celestia (TIA) on October 31st, offering TIA/BTC, TIA/USDT, and TIA/TRY trading pairs for spot trading.

OKX has opened TIA/USDT trading at 02:00 on November 1st Beijing time, and launched the TIAUSDT perpetual contract.

Coinbase has launched Celestia (TIA) on November 2nd. Currently, Coinbase only supports the token on the Celestia network.



Binance, OK, Bitget, Bybit, BitMEX and other trading platforms have launched Memecoin (MEME).

Binance launched Memecoin (MEME) at 16:00 on November 3rd Beijing time, and opened MEME/BNB, MEME/BTC, MEME/USDT, MEME/FDUSD, MEME/TUSD, MEME/TRY spot trading pairs for trading.

OKX launched MEME/USDT trading on November 3rd.

Bitget has launched the MEME (MEMECOIN) U perpetual contract, with a maximum leverage of 50x.

BitMEX has launched a futures contract for Memecoin (MEME) with USDT as collateral, called MEMEUSDTX23, with a maximum leverage of 2x.

Bybit launched Memeland (MEME) on November 3rd.



OpenSea Layoffs About 50%, Will Realign Team Around "OpenSea 2.0"

On November 4th, OpenSea confirmed the dismissal of about 50% of its employees. An OpenSea spokesperson stated that the company is undergoing significant organizational and operational changes and will adopt a more flattened organizational structure in the future. Employees affected by the layoffs will receive four months of severance pay, six months of medical and mental health services, and an accelerated equity vesting schedule. According to Dune data, in the past week, OpenSea has had over 32,000 unique wallets between its standard and professional markets, more than twice that of Blur. However, Blur has accounted for about 70% of the total NFT sales market share in the past week, with sales exceeding $51 million.



Prisma Finance announces retroactive airdrop

On November 5th, the LSD stablecoin protocol Prisma Finance announced the launch of the Prisma retroactive airdrop. Locked PRISMA tokens will be airdropped to Prisma point holders and addresses that voted to support Prisma being listed on the Curve whitelist. veCRV voters will receive 1% of the total supply, while Prisma point holders will receive 2% of the total supply, distributed to early users based on their point ratio. The airdropped tokens will be locked in the form of vePRISMA, with veCRV holders for 52 weeks and Prisma point holders for 26 weeks.



Bitget Delists TokenFi and Repurchases User TOKEN Assets

On October 31, Bitget released an announcement regarding the delisting of TokenFi (TOKEN) tokens and the repurchase plan. The announcement stated that after the TokenFi (TOKEN) token trading began, Bitget observed violent price fluctuations. The project party only deposited tokens worth less than $2,000 in the DEX liquidity pool opened that night, suspected of manipulating market prices by maliciously compressing liquidity. Bitget will repurchase according to the highest closing price of TokenFi (TOKEN) tokens in Bitget's open trading within 5 days (October 27 to October 31) after the token is listed, which is 1 TOKEN = 0.00605002 USDT, before 16:00 on November 7, 2023. Details: "Bitget Delists TokenFi and Repurchases User TOKEN Assets".



HashKey Launches Platform Token HSK

HashKey Exchange, a compliant cryptocurrency exchange based in Hong Kong, is set to launch its platform token HSK (ERC-20) on November 1st at 11:11.



Insiders: Jane Street, Jump and other traders have negotiated with BlackRock on "market making" for BTC spot ETFs

On November 1st, according to sources cited by Coindesk, if regulatory agencies approve BlackRock's BTC spot ETF, some of the world's largest market makers may participate in providing liquidity for the ETF. Currently, trading giants Jane Street, Virtu Financial, Jump Trading, and Hudson River Trading have negotiated with BlackRock on market making roles.



Starknet will allocate 50 million STRK tokens to early contributors

On October 31st, Starknet announced the launch of the Early Community Member Program, which aims to recognize community contributors who have made contributions to Starknet so far, and plans to allocate 50 million STRK tokens to those who have made contributions in the early stages of the network, including individual contributors who encourage technical discussions, organize Starknet-related activities, and regularly publish Starknet brand content. Individuals and projects will need to apply for grants and provide detailed information about their contributions. The application window is open until 8:00 on November 23, 2023.



This Week's Popular Articles


Bitcoin's 15-year debut: The story behind 43 million times growth

Since the release of the Bitcoin whitepaper "Bitcoin: A Peer-to-Peer Electronic Cash System" in 2008, Bitcoin has achieved over 43 million times growth. Today, Bitcoin and the cryptocurrency industry continue to change the world.



400 billion dollar cryptocurrency collapse case initiator Do Kwon's "Escape Story": Everyone is looking for me















近 7 天,FTX 卖了哪些币?
Translation:

What coins did FTX sell in the past 7 days?

While SBF is undergoing court trial, FTX/Alameda's cryptocurrency assets are also actively "moving in secret". Following the transfer of $59 million in assets on the 25th, 26th, and 27th, FTX/Alameda seems to have accelerated their operations in the past few days, having transferred a total of approximately $127.5 million worth of cryptocurrency assets. BlockBeats has compiled the relevant address details of their operations after the 27th.



寻找下一个 Celestia,六大模块化项目交互教程

Translation:

Looking for the next Celestia, six modular project interaction tutorials

Celestia's big bowl of pig's feet rice airdrop has attracted attention to the modularization trend. It is the first but not the last modular project to issue coins. What opportunities can we focus on in this field in the future? This article involves six potential modular projects and interaction suggestions; Fuel, Altlayer, Polygon Avail, Caldera, Eclipse, etc.



Vitalik's latest article interpretation: V God has outlined the future roadmap of Bitcoin for us



Vitalik's new article: Sorting out the differences of various L2 solutions

We see that L2 projects are becoming more "heterogeneous", a term commonly used to describe different blockchains, protocols, technologies, or assets, each with different characteristics, rules, or properties. I expect this trend to continue. Some independent L1 projects are seeking closer contact with the Ethereum ecosystem and may transition to L2 projects. These projects may wish to adopt a phased transition approach. Some centralized projects are looking to provide more security for their users and are exploring blockchain-based approaches.



Robot becomes TokenFi's biggest winner, and individual investors become "bagholders" as they enter the market



Bull market reignites, inventory of recent projects and narratives worth paying attention to



Project executives leave in droves, is it another "job-hopping season" in the crypto industry?



Bitcoin has rebounded 40% from its mid-September low. As the spot Bitcoin ETF is about to be approved, the price of Bitcoin is rising. According to a report from cryptocurrency investment company Galaxy, the bullish expectations for the spot Bitcoin ETF in the market indicate that once approved, there will be $14 billion worth of Bitcoin buying pressure, driving up the price of Bitcoin. Although the brave ones who stay in the cryptocurrency field have positioned themselves at new highs, external capital is needed to take us there, and the approval of the spot Bitcoin ETF alone does not guarantee inflows of funds.



Welcome to join the official community of BlockBeats by LuDong



#HashKey#LayerZero
2023-11-05 12:38

BlockBeats will compile industry news highlights for the week of 10.23-10.29 in this article, and recommend in-depth articles to help readers better understand the market and industry trends.


Weekly News Recap


BlackRock Bitcoin Spot ETF Goes Live with US Depository Trust and Clearing Corporation

The BlackRock Bitcoin Spot ETF has gone live with the Depository Trust and Clearing Corporation (DTCC) in the United States, with the stock code IBTC. This is a step in the ETF listing process and the first Bitcoin spot ETF to go live with DTCC. However, the ETF appeared on the DTCC website eight months ago and was recently rediscovered by users due to the hype surrounding the ETF. Interestingly, DTCC temporarily delisted IBTC and changed the "Y" in the Create/Redeem section to "N" before relisting it.



People's Court newspaper article "Criminal Determination of Virtual Currency Settlement Payment Assistance"

The People's Court newspaper article "Criminal Determination of Virtual Currency Settlement Payment Assistance" points out that virtual currency settlement payment assistance is the act of using virtual currency to provide financial transfer assistance to others for committing telecommunications fraud. In the criminal determination of virtual currency settlement payment behavior, the characteristics of criminal proceeds should be grasped, the boundary nodes between upstream telecommunications fraud and subsequent concealment and concealment of criminal proceeds and profit behavior should be distinguished, and the impact of the time and content of the subjective knowledge and "collusion" of the helper on the determination of the crime should be distinguished, so as to distinguish between easily confused charges. For more information, please see "People's Court newspaper article "Criminal Determination of Virtual Currency Settlement Payment Assistance"".



SBF appeared in court and denied embezzling client funds

On October 28th, SBF made the following statement while testifying in court this Friday:

1. No fraud or misappropriation of client funds has occurred.

2. SBF once asked Caroline Ellison, the former CEO of Alameda, to hedge Alameda's position, but she never followed his advice. SBF also stated that he was unable to give her the time and attention she needed in their romantic relationship. (This statement contradicts Caroline's previous testimony.)

3. DCG and Celsius sought emergency funding from SBF last year, but were rejected.

4. Can't remember discussing a $13 billion fund loophole with FTX executives.

5. When FTX was first established, the plan was to sell it to Binance during its early stages. SBF believed that FTX could be developed into a platform specifically designed for margin traders, a problem that had not been addressed in the trading platform industry at the time. In 2019, FTX's annual revenue was $20 million, and by 2021, FTX's daily revenue had reached $3 million. However, at the time, Binance chose to develop a similar platform on their own and did not bring up the acquisition. Related reading: "SBF Courtroom Scene: Absent Jury and the "Amnesiac" Protagonist".



Binance Launches New Project Memecoin (MEME) on Launchpool

Binance has launched its 39th new coin mining project, Memecoin (MEME), on Launchpool. Memecoin (MEME) will be listed on Binance on November 3, 2023 at 16:00 (GMT+8), and trading markets for MEME/BTC, MEME/USDT, and MEME/BNB will be opened, subject to seed tag trading rules. For more information, please read "Detailed Explanation of Binance's Latest Launchpool Project Memecoin: The Great Migration of 200 Million Meme Empire". Prior to this, Memeland launched the MEME token sale, and on-chain data shows that the MEME token community raised a total of 8,737 ETH (worth approximately $15.67 million) in pre-sales.



Bybit Launchpool to launch Celestia (TIA); BitMEX to launch Celestia futures contract

On October 26th, according to official sources, Bybit Launchpool will launch modular blockchain network Celestia (TIA) on October 31st. On the same day, BitMEX announced the launch of the first USDT margin Celestia futures contract: TIAUSDTZ23, which is expected to start trading at 12:00 on October 27th Beijing time. Prior to this, according to github information, Celestia updated its pre-genesis.json file, and the genesis time (mainnet launch time) is set to October 31, 2023.



Floki launches asset tokenization platform TokenFi, with 56% of tokens allocated to Floki stakers

On October 26th, Meme project Floki announced the launch of its cryptocurrency and asset tokenization platform TokenFi (token: TOKEN). The official website of TokenFi will be released on October 27th, and multiple products are expected to be launched in the fourth quarter of 2024. The total supply of TOKEN tokens is 10 billion, with 5 billion issued on the BNB Chain and 5 billion on the Ethereum network. 10% of the tokens will be used to provide liquidity on Uniswap and PancakeSwap. Floki stakers will receive 56% of the supply as a reward over four years. DWF Labs is the main institutional partner and market maker for TokenFi.



The court has made a final ruling on the Grayscale vs. SEC case, returning the approval authority of Bitcoin ETF to the SEC

On October 24th, FOX Business reporter Eleanor Terrett posted on social media that the District of Columbia Appeals Court has officially made a final ruling on the Grayscale vs. SEC case. There is no new content, only an official authorization statement. Grayscale and the SEC's Bitcoin ETF issue received a court order, and the court ruled to return the approval authority of the Bitcoin ETF to the SEC, and the SEC was instructed to take the next step in handling the Grayscale Bitcoin ETF plan.



Worldcoin will change to reward operators with WLD and extend loan agreements with 5 market makers until December 15, 2023

On October 23, Worldcoin announced that during the transition period after the launch of Worldcoin, Orb operator rewards were paid in USDC. This transition period is now coming to an end, and operators will receive rewards in the form of WLD. When WLD is officially launched, World Assets Ltd. (a subsidiary of the Worldcoin Foundation) signed loan agreements with five market makers operating outside the United States. These five entities received a total of 100 million WLD in loans, which were originally due to expire on October 24, 2023. However, World Assets Ltd. decided to extend the initial loan agreement to December 15, 2023, while keeping all other terms of the agreement unchanged. Therefore, on October 24, 2023, the market makers will return 25 million WLD of the current outstanding loans, and the remaining 75 million WLD will be repaid on December 15, 2023. Currently, the 5 WLD market makers have returned 25 million WLD, and the remaining 75 million WLD is planned to be returned on December 15.



Ethereum developers confirm Dencun upgrade will not happen before the end of this year

On October 27th, Ethereum client developers confirmed that the expected Dencun upgrade will not be implemented in a network hard fork before the end of 2023. Anonymous Prysm developer Potuz confirmed during today's core developer conference call that it is not possible to fork the mainnet in 2023. He pointed out that in the past few months, consensus issues have been occurring in the 10 developer networks that have launched testing upgrades, and "none of them have progressed smoothly." Last month, with the launch of the Ethereum Holesky testnet later than planned, it was widely believed that it was unlikely to complete the Dencun upgrade before December.



Paradigm co-founder Fred Ehrsam resigns and stays with the company as a general partner

On October 25th, Paradigm co-founder Fred Ehrsam announced his resignation and will stay with the company as a general partner, but will reduce his involvement in daily operations. Before founding this venture capital firm, Ehrsam was a co-founder of Coinbase. He told employees that he plans to spend more time researching and investing in future health technologies, citing other cryptocurrency leaders' interest in anti-aging treatments and cryogenic technology.


This Week's Popular Articles


BRC20 Upgrade BRC100, $ordi Governance Empowerment, What Happened to Bitcoin's Ecology After Returning to $30,000?

Since the beginning of this year, the ecology and narrative of Bitcoin have become lively as BTC's price gradually rises. In the past two weeks, the price of Bitcoin has reached a new high in 18 months, breaking through the $35,000 mark yesterday. The water spilled from Bitcoin's rise has spread to BRC20 and Ordinals. Taking the most representative ORDI as an example, its highest increase in October reached 30%.



During the days of Bitcoin's skyrocketing, what coins did the whales buy on the chain?

On October 24th, news of progress in the approval process of the BlackRock Bitcoin spot ETF sent Bitcoin soaring to $35,000. In less than half a month since the low point on October 11th, Bitcoin has already surged by over 30%, reigniting hopes of a "bull return" among long-suppressed investors. So besides Bitcoin, what other operations did the whales have on altcoins?



"Demon coin manufacturer", Upbit is seizing pricing power in the cryptocurrency market

On October 24th, with the price of Bitcoin skyrocketing by 15% overnight, many cryptocurrencies saw impressive gains driven by positive news. Among them, MINA was the most eye-catching. The price of MINA tokens broke through $0.47 on Binance, and on the same day, the Korean cryptocurrency exchange Upbit announced the listing of MINA, causing its price to surge to $0.9648 in a short period of time, forming a price difference of up to twice as much as other mainstream exchanges such as Binance. Behind this phenomenon is a set of simple but effective tactics designed by Upbit to capture the cryptocurrency market. Upbit is carefully planning its holding and market-making strategies, and seizing the opportunity of liquidity contraction on major trading platforms to compete for the pricing power of tokens in the entire cryptocurrency market.



Bitcoin Soaring: Prosperity or Trap?

On October 24th, the encryption market was full of good news, and Bitcoin surged accordingly. However, upon reviewing the market, there was a hint of strangeness in the natural flow, as the market's initial reaction to the good news was not as intense as expected. From 1:00 am to 3:00 am, there was a continuous stream of good news from BlackRock, but Bitcoin's true surge came from a big bullish candlestick at 6:30 am this morning. What happened during this process? Cryptocurrency KOL 2898 (@punk2898) reviewed the trend from last night on their social media platform and gave their own opinions on the market.



A paradigm shift in the Bitcoin RWA market, far exceeding a scale of 9 billion USD, is underway

As the fourth Bitcoin halving approaches and RWA narrative becomes mainstream, the Bitcoin and its underlying computing power market are sparking imaginations far beyond investors' expectations. "Bitcoin finance" may usher in greater opportunities and revival.



Multiple additions and deletions of BlackRock Bitcoin spot ETF, is DTCC manipulating the market?

Bloomberg ETF analyst Eric Balchunas found that iShares, a subsidiary of asset management giant BlackRock, has listed its Bitcoin Trust on DTCC (Depository Trust & Clearing Corporation), the central depository and settlement hub for US stocks, bonds, and asset securities. The stock code will be "IBTC". DTCC is responsible for settlement and delivery services for eight major exchanges, including the New York Stock Exchange, Nasdaq, American Stock Exchange, and Chicago Stock Exchange. Its integrated settlement and delivery with centralized custody operations have become the mainstream trend in the development of international securities market settlement and custody systems.















If you mention TRX to most people in the cryptocurrency industry, they may think you're joking and laughingly refute with "What, Justin Sun's chain?" or some similarly meaningless and ignorant comment. Meanwhile, Tron has slowly become the most frequently used blockchain in stablecoin activity, and TRX has been quietly performing well.



How do market makers drive BTC up?

Galaxy Digital, a cryptocurrency financial services company, Research Director Alex Thorn wrote on X platform: "As the BTC spot price rises, more and more option market makers are shorting Gamma. When you short Gamma and the spot price rises, you need to buy back the spot to maintain Delta neutrality. This should amplify any short-term upward momentum." This article will reveal what shorting Gamma is and why it will help drive BTC up.



Uniswap founder destroyed his own meme coin, but "HayCoin Carnival" continues

On October 21st, Uniswap founder Hayden Adams announced on social media that he had destroyed approximately 99.99% of the supply of HayCoin. In his tweet, Hayden wrote, "I felt uncomfortable holding almost the entire supply (about 99.99%) of the token, especially when people were treating it as a joke and a speculative object."



Arthur Hayes: Turmoil from the Edge Will Become the New Driving Force for Bitcoin Prices

This week, BitMEX co-founder Arthur Hayes wrote a lengthy article analyzing the impact of global economic conditions (especially in the United States) and turbulent wars on the price of Bitcoin.


Welcome to join the official community of BlockBeats by LUDONG

Telegram subscription group: https://t.me/theblockbeats

Telegram communication group: https://t.me/theblockbeatsApp

Twitter official account: https://twitter.com/BlockBeatsAsia

#Binance#Floki#Memeland#Celestia Network
2023-10-29 12:24

BlockBeats will compile industry news highlights for the week of 10.16-10.22 in this article, and recommend in-depth articles to help readers better understand the market and stay informed of industry trends.


Weekly News Recap


Cointelegraph released false news of "Bitcoin ETF approval", BTC rose to $30,000 and then fell back, causing a network-wide liquidation of $100 million in one hour

On October 16th, the veteran cryptocurrency media Cointelegraph claimed on X (formerly Twitter) that the US SEC had approved BlackRock's iShares Bitcoin Spot ETF. The tweet received nearly 1.5 million views in less than half an hour. Influenced by this news, Bitcoin broke through multiple integer levels and reached $30,000. However, the market soon realized that something was wrong, because mainstream media such as Bloomberg did not report any content on such a historic news event like the Bitcoin ETF.


Later, Bloomberg Terminal information showed that BlackRock stated its Bitcoin spot ETF application is still under SEC review. Cointelegraph has also deleted the false news tweet previously published and issued an apology letter after investigation. Within 10 minutes of the news being released, nearly $100 million was spent on this false news of just 7 words in the market, with short positions liquidated for $72 million and long positions liquidated for $26 million. Related reading: "A fake news worth $100 million that can go down in history".



SEC Drops All Charges Against Ripple CEO Brad Garlinghouse and Executive Chairman Chris Larsen

On October 20th, the US Securities and Exchange Commission (SEC) dropped all charges against Ripple CEO Brad Garlinghouse and Executive Chairman Chris Larsen. This victory marks the third consecutive win for Garlinghouse, Larsen, and Ripple, following the ruling in July 2023 that "XRP itself is not a security" and the subsequent October federal judge decision to dismiss the SEC's appeal. The three-year legal battle has finally come to a close. Read more: "Facing Multiple Pressures, SEC is Releasing the Prelude to Compromise"



Binance Launches BSV 1-50x U Perpetual Contract

On October 20th, according to an official announcement, Binance launched BSV 1-50x U perpetual contract at 20:30 (GMT+8) on October 20th, 2023. Previously, Binance had delisted BSV four years ago due to the comments and actions of BSV founder Craig Wright. Related reading: "Historical Recurrence: BSV Returns to CZ's Embrace Four Years Later".



Uniswap will charge a fixed fee of 0.15% for 11 tokens traded through the official front-end

On October 17th, according to an official announcement, Uniswap will start charging a 0.15% exchange fee for certain tokens in its web application and wallet, including ETH, USDC, WETH, USDT, DAI, WBTC, agEUR, GUSD, LUSD, EUROC, and XSGD. These tokens will only be charged when traded on the mainnet and L2 through the Uniswap Labs interface to sustain Uniswap's operations. Fees will only be charged for exchange transactions where both the sold and bought tokens are subject to fees. Exchanges between stablecoins are not included in this fee. Wrapped ETH transactions between ETH and WETH are also not included in this fee. Related reading: "Uniswap, the most successful US Internet Fintech company under the Web3 dividend" and "What do Chinese KOLs think of Uniswap's front-end fees?"



Vitalik: Never "Sell" ETH for Personal Benefit Since 2018

On October 18th, Vitalik stated on social media: "If you see an article saying 'Vitalik sent XXX ETH to a trading platform', it's actually not me selling, but almost always me donating to some charity, non-profit organization, or other project, and the recipient is selling because they need to pay expenses. Since 2018, I have not 'sold' ETH for personal benefit." Related reading: "Tracking Vitalik's Wallet on the Chain, How Much ETH Has Been Sold?"



Lido will gradually withdraw from Solana and Polygon network staking services, focusing on Ethereum's native liquidity collateral services

This week, Lido, the leader in the LSD track, first announced the cessation of new collateral acceptance on Solana, and its projects on Solana will gradually terminate in the coming months. It then released a new proposal to gradually stop services on Polygon and instead become a provider of Ethereum's native liquidity collateral to avoid risks from smaller TVL pools. Related reading: "Facing losses and unsustainable finances, Lido announces withdrawal from Solana"



The US SEC has included cryptocurrency in its 2024 examination priority list

On October 17th, Fox reporter Eleanor Terrett stated on social media that the US SEC has included cryptocurrency in its 2024 examination priority list. Please note that most cryptocurrency companies are not registered with the SEC and therefore do not pay registration fees.



Meitu executive: The company will consider selling its holdings of cryptocurrency at an appropriate time

On October 16th, according to Hong Kong's Sing Tao Daily, Meitu's Senior Investor Relations Manager Kang Yicong stated that the company's return to profitability this year is largely due to its subscription model, which avoids significant revenue fluctuations due to macroeconomic changes. Meitu's AI business, which has been popular recently, is also a growth driver for the company. It not only helps to promote subscriptions, but its profit contribution is also expected to continue to increase. As for the market's attention to cryptocurrency investments, she revealed that the company will consider selling at an appropriate time, but there are currently no specific plans for disposal. The company has basically not bought any cryptocurrency since 2021, when the purchase was made for strategic considerations, and no further actions have been taken since then. BlockBeats note: According to Meitu's previously released 2023 mid-term financial report data, as of June 30, 2023, Meitu held about 31,000 ETH and 940.4970 BTC, with fair values of $57.41 million and $28.28 million, respectively, and no purchases or sales were made in the first half of the year.



Due to Reddit's closure of blockchain-based community point services, the value of related tokens plummeted

On October 18th, Reddit decided to terminate its nearly three-year-old blockchain-based community point service. Tim Rathschmidt, Reddit's Consumer and Product Communications Director, said, "Although we see some future opportunities for community points, the resources required are too high to sustain. In addition, the regulatory environment has increased difficulties in this area." After the news was announced, the native token Moons (MOON) of the Reddit r/CryptoCurrency community fell by 85%, the Bricks (BRICK) token of the r/Fortnite sub-forum fell by 67%, and the Donut (DONUT) token representing the community points of the r/ethtrader sub-forum fell by 66%. Related reading: "Cancellation of Token Points, the Black Swan Event of Reddit's Cryptocurrency Community"



Bitcoin releases new protocol Taproot Assets, sparking community discussion

On October 18th, Lightning Labs released the Taproot Assets mainnet alpha version, which means stablecoins and other assets can now be built on the Bitcoin network. These assets are completely decentralized and controlled by Bitcoin Script's programmable features, and will ultimately be applied through the Lightning Network. Is Bitcoin entering a true BRC20 era? What is the technical implementation logic of Taproot Assets? How does it differ from BRC20 on Ordinals? Will it bring another wave of new BRC20 token issuance frenzy? Related reading: "What is the technical implementation logic of Taproot Assets, the "true BRC20" asset built on the Bitcoin network by Lightning Network?" and "Taproot Assets: may lead the new era of multi-asset in Bitcoin".



SBF Trial Week 3: Former Engineering Director Testifies, Confirming FTX Used User Funds for Political Donations

With the testimony of former FTX Engineering Director Nishad Singh, the third week of the SBF trial has begun. Singh is another important member of the exchange leadership and SBF core circle. Singh's testimony further confirms explosive allegations that FTX participated in illegal political donations, including the fact that user account funds were misappropriated without prior permission. Singh stated that Alameda would send him stolen customer funds, which were then used for political donations from his account. In addition, he revealed that the stolen funds were used by SBF for investment and other expenses. Related reading: "SBF Trial Week 3: Former Engineering Director Testifies, Confirming FTX Used User Funds for Political Donations".



This Week's Popular Articles


一条价值 1 亿美元、可以载入史册的假新闻

Translation:

A fake news worth 100 million US dollars that can go down in history

On October 16th, according to Cointelegraph, the US Securities and Exchange Commission has approved BlackRock's iShares Bitcoin Spot ETF. When the three highly anticipated words "Bitcoin", "ETF", and "approve" are finally linked together, it's hard to believe that this is a $100 million fake news. In 10 minutes, nearly $100 million was spent on CoinTelegraph's "mistaken news", with short positions liquidated for $72 million and long positions liquidated for $26 million.



Uniswap, the most successful US internet Fintech company under the Web3 dividend

With the support and coercion of various VCs such as a16z and Paradigm, Uniswap has taken a clearly defined management development path. Following the FTX scandal, Uniswap has become the most successful internet fintech company in the Web3 world. Currently, Uniswap's market share in the DEX market has exceeded 80%, with a weekly trading volume of up to $16 billion, far surpassing its competitors. With the recent announcement of the launch of front-end transaction fee functionality, the team's strategy of separating from the protocol has become even more apparent, providing a viable compromise for Web3 entrepreneurs.



Uniswap starts charging for front-end services, what do Chinese community KOLs think?

Uniswap will start charging a 0.15% exchange fee for certain tokens in its web application and wallet starting from October 17th, including ETH, USDC, WETH, USDT, DAI, and more than ten other tokens. These tokens will only be charged when traded on the mainnet and L2 through the Uniswap Labs interface to sustain Uniswap's operations. This has caused a lot of attention and debate in the community, and BlockBeats has compiled the following Chinese community opinions for reference.



Polkadot undergoes major layoffs: executives receive over $1 million in cash; Asian team remains unscathed

One week before the Polkadot ecosystem development organization went to Mallorca for their annual vacation, its 385 employees received some shocking news: the company will lay off most of its staff. Employees said that only the core engineering, developer relations, ecosystem operations, and Asian teams were not laid off. The company ran out of cash and had to downsize after aggressively hiring in the past year, ultimately leading to financial difficulties. Eric Wang, the head of strategic growth projects at Polkadot ecosystem development organization, said, "The executives were paid high salaries, but did not bring much actual results."



What is the technical implementation logic of Lightning Network Taproot Assets for building "true BRC20" assets on the Bitcoin network?

On October 18th, Lightning Labs released the Taproot Assets mainnet alpha version, which means stablecoins and other assets can now be built on the Bitcoin network. These assets are completely decentralized and controlled by the programmable feature of Bitcoin Script, and will ultimately be implemented through the Lightning Network. At first glance, it seems that Bitcoin has ushered in a true BRC20 era?



Taproot Assets: or may lead the new era of multi-asset Bitcoin

aproot Assets is a new protocol based on the Bitcoin blockchain. It utilizes the latest Bitcoin upgrade, Taproot, to achieve higher privacy and scalability, providing core functionality for developers to issue, send, receive, and discover assets on the Bitcoin blockchain.



Community introduces KYC Hook for Uniswap, will it threaten the decentralization of DeFi?

On October 10th, Uniswap founder Hayden shared a community post on social media, stating that "just a few months away from the release of v4, there is already a hooks directory site and 75 different hooks built by the community. As an expressive native feature, hooks have won in public construction." It is worth noting that KYC Hooks was introduced by community developers in the Uniswap V4 directory as one of the optional features, and KYC verification will be executed by NFT, which has caused a great deal of discussion in the community.



Facing multiple pressures, SEC is releasing the prelude to compromise







Celestia TGE price prediction and simple supply analysis

Encryption KOL predicts that the minimum price of Celestia TGE is $2.5 by calculating the circulation at the time of Celestia TGE and the early investor's price.



Historical Cycle: Four Years Later, BSV Returns to CZ's Embrace



Welcome to join the official community of BlockBeats by LUDONG

Twitter official account: https://twitter.com/BlockBeatsAsia

#Lido#Uniswap#Binance
2023-10-22 12:37

BlockBeats will compile industry news highlights for the week of 10.09-10.15 in this article, and recommend in-depth articles to help readers better understand the market and industry trends.


This Week's Important News Review


Founder of SSV Network Enlisted by Israel

Alon Muroch, founder of SSV Network, a Ethereum staking infrastructure, announced on his social media platform that he has been enlisted by Israel and stated that "the actual situation is much worse than described. We are turning the situation around, but this process will neither be short nor pleasant." Alon Muroch's social media profile indicates that he resides in Israel. A. Matthias, SSV's global business director, stated on his social media platform that the entire team is operating normally and that team members will be more united.



Chain game BigTime goes live on multiple trading platforms, token price soars, GameFi sector concept coins attract attention again

This week, the PC multiplayer action role-playing game BigTime went live on OKX, Bitget, and Coinbase. After going live, BIGTIME soared all the way up, with a 24-hour increase of over 150%, attracting attention from the community. However, due to the trading platforms blocking mainland IP addresses, users are unable to participate in purchases, so many users question whether it seems like they want retail investors to "take over". On October 12th, Binance's perpetual contract trading platform launched the BIGTIME U perpetual contract, with a maximum leverage of 20 times, but Binance did not launch BIGTIME spot trading. The last project to do the same thing was Blur, so users are worried that Binance's move will cause BIGTIME to experience violent fluctuations and it will be difficult to maintain the upward trend. Related reading: "BIGTIME goes live for two days and rises nearly 20 times, which other concept coins have been pulled up?" and "Chain game BigTime research report: team, gameplay, and economic model explained in detail".



Alameda Research former CEO Caroline Ellison testified as a witness in the SBF trial

On Tuesday, Caroline Ellison, former CEO of Alameda Research, testified on the first day of the trial against SBF regarding the FTX case. Caroline Ellison was well-prepared for her testimony and firmly believed that SBF was a co-conspirator in the massive fraud case involving FTX and Alameda Research. During her testimony, Caroline stated, "Alameda took billions of dollars from FTX customers and used it for our own investments. We ultimately took about $1.4 billion, some of which we have the ability to repay. SBF was initially the CEO of Alameda and the owner of Alameda, and he instructed me to commit these crimes." Caroline admitted to seven felonies last December, but at that time, SBF denied all charges against him. Read more in "SBF's ex-girlfriend testified, what insider information did she reveal?", "Why did SBF want to control BTC below $20,000? The dark game behind Bitcoin price fluctuations", and "SBF's ex-girlfriend testified on the second day, revealing shocking information".



Binance Launches Neutron and Becomes the 38th New Coin Mining Project

Binance has launched the 38th new coin mining project - Neutron. Neutron allows developers to easily build cross-chain applications through the Inter-Blockchain Communication Protocol (IBC) and provides comprehensive economic security for Cosmos Hub's DeFi dApps. Users can invest BNB, TUSD, and FDUSD into the NTRN mining pool on the Launchpad website after 08:00 on October 11, 2023 to receive NTRN rewards. The total mining period for NTRN is 20 days.



Tether CTO to be appointed as CEO in December, and will soon launch Tether RWA platform

On October 14th, Paolo Ardoino, who will soon become the CEO of Tether, stated on social media that "the Tether Real World Ecosystem (RWE) is about to be launched." In an interview with The Block, Paolo Ardoino stated that although Tether's USDT stablecoin "remains a key product, the company will firmly focus on its growth, but the company is also expanding into new areas. Tether will soon announce a new platform that leverages Tether's experience in building financial technology, focusing on real-world assets (RWA)." According to The Block's report on October 13th, Paolo Ardoino will be appointed as the CEO of Tether in December. Tether's current CEO, Jean-Louis van der Velde, will serve as a Tether advisor and retain his position as Bitfinex CEO.



ZeroSync Project Leader Releases "BitVM: Compute Anything on Bitcoin" Whitepaper, Sparking Discussion

The ZeroSync project leader has released a whitepaper titled "BitVM: Compute Anything on Bitcoin," which has sparked discussion. BitVM is a new computing paradigm designed by Robin Linus at Zero Sync, which combines Optimistic Roll Up, Fraud Proof, Taproot Leaf, and Bitcoin Script. BitVM allows for the expression of Turing-complete Bitcoin contracts without changing the Bitcoin network's consensus rules, enabling the execution of any computable function and offline computation without leaving any trace on the chain. The whitepaper also introduces BitVM's architecture, input/output, limitations, and prospects. Related reading: "How Do Senior Developers View BitVM for Computing Anything on Bitcoin?", "Four Pictures Explain What BitVM Is", "BitVM Is Hot, But Can It Run "Doom"?"



OKCoin will gradually be renamed to OKX globally, and the two brands will merge into one

On October 10th, OKCoin CEO Fang Hong announced on his social media platform that OKCoin will be renamed to OKX globally in the coming months. Fang Hong stated, "We recently cancelled the 'OKCoin' brand and products in several regions (Latin America, Middle East and North Africa, South Asia, Hong Kong, etc.) - we will rename 'OKCoin' to 'OKX' one by one in the next few months, starting from Singapore, then the EU, and finally our headquarters in the United States. OKCoin customers in Singapore, the EU, and the US will receive the same product services under the same regulatory framework, and these customers will only interact with a new brand. More details will be shared separately with customers."



LSDFi Protocol Raft Launches Native Token RAFT, with Community Share Accounting for 16% of Total Supply and Ecosystem and Incentive Share Accounting for 21.43%

On October 10th, according to official sources, LSDFi Protocol Raft launched its native token RAFT, which can be used for staking and governance. Token holders can provide liquidity in the Balancer pool and stake their Balancer liquidity pool tokens to obtain veRAFT. Holders of veRAFT can vote on key protocol decisions to promote the growth of Raft and receive RAFT token rewards. According to data, the total supply of RAFT is 2.5 billion.



Stablecoin USDR has severely deviated from its peg and issuing company TangibleDAO says it will be discontinued after redemption

On October 11th, the stablecoin USDR, which is backed by physical real estate and pegged to the US dollar, was severely deviated from its peg on the Polygon network, dropping below $0.5 at one point. USDR was launched by TangibleDAO in August 2022 on the Polygon network and is backed by physical real estate to issue tokens through over-collateralization, with profits distributed to holders to offset the depreciation of its pegged currency and achieve real estate tokenization. On October 12th, TangibleDAO announced its action plan to address the deviation issue of USDR. Due to the large redemption of liquidity DAI in the USDR fund, the market value rapidly declined, coupled with the complex real estate liquidation process, leading to panic selling and deviation. TangibleDAO emphasized that it will no longer include Real USD in the future and promised to discontinue USDR once the redemption process is completed.



Islamic Coin, an Islamic encryption project, launches token ISLM and distributes airdrop rewards

On October 11th, according to official sources, Islamic Coin, an Islamic encryption project, announced the launch of token ISLM and distributed airdrop rewards. The first wave of airdrops from Islamic Coin will distribute approximately 20.36 million ISLM rewards to 58,376 community members, including HAQQ network validators, TheHaqqExpedition and HAQQ network participants, and Islamic Coin ambassadors. In addition, Islamic Coin will also release airdrops for participants in the Cosmos ecosystem, including stakers and voters on Evmos and Cosmos Hub, later this week. The airdrop is only available to non-Dubai residents. Islamic Coin stated that the second and third waves of airdrops will be released after the ecosystem reaches the next growth milestone. Islamic Coin's token ISLM is now available on KuCoin.



Polkadot development company Parity Technologies denies layoffs of more than 300 people, but admits to personnel adjustments

Scimitar Capital partner thiccy cited sources to reveal that Parity Technologies, the Polkadot ecosystem development organization, laid off more than 300 people this week. The next day, Parity Technologies denied the news, but it is seeking to transfer some of its existing functions to multiple teams within the decentralized ecosystem of Polkadot, which will indeed affect the company's personnel configuration, but any personnel changes related to the decentralized transition to various ecosystem funding entities will occur within a few months. BlockBeats previously reported that Polkadot co-founder Gavin Wood announced in October 2022 that he would resign as CEO of Parity Technologies, the Polkadot ecosystem development organization.



Insider: US SEC does not plan to appeal Grayscale ruling

According to sources cited by Reuters, the US Securities and Exchange Commission (SEC) does not plan to appeal the court's ruling in the "Grayscale's application to convert GBTC to a spot ETF" case, and this decision may pave the way for the SEC to review Grayscale's Bitcoin spot ETF application. SEC Chairman Gary Gensler declined to comment on potential appeals against the Grayscale ruling.



Decentralized Social Protocol Farcaster Officially Launched, Users Can Register and Use Freely

Co-founder of the decentralized social protocol Farcaster, Dan Romero, announced that after three years of development, their social network Farcaster has achieved 100% permissionless use. Now, any user with internet access and Ethereum can register and use Farcaster freely, without relying on any other individuals or organizations.


This Week's Popular Articles



The former Alameda CEO who mysteriously disappeared, Trabucco, a high school friend of SBF, may have been an important informant in the FTX case.

As a co-founder of FTX and SBF's right-hand man, Gary Wang has gained SBF's trust, but today he explicitly stated in court that he hopes to avoid imprisonment by pleading guilty and cooperating with the investigation, although federal prosecutors have made no promises to him. In addition to Gary Wang, a key figure and potential witness in the FTX case is Trabucco, the former co-CEO of Alameda Research, who left three months before the FTX incident and cleverly avoided this "disaster".



SBF Why Once Wanted to Control BTC Below $20,000? The Dark Game Behind Bitcoin Price Fluctuations

In the second half of 2022, the price of Bitcoin experienced significant fluctuations due to market volatility. In early May, the price of Bitcoin was nearly $40,000, but then experienced a sharp decline and by the end of July had fallen to nearly $25,000. Although the price manipulation game in the cryptocurrency market has been played to perfection, this has always been an open secret among market makers. However, as the trial of SBF's guilt continues into its crucial second week, he, once a heavyweight market participant, now has key witnesses and testimony regarding his manipulation of Bitcoin prices.



Chain Game BigTime Research Report: Team, Gameplay, and Economic Model Detailed Explanation

Big Time is a large-scale multiplayer online role-playing game (MMORPG) built on Ethereum, with a leading team and financing in the industry. Currently, the game is still in the internal testing phase, and has basically formed the prototype of MMORPG, and completed the conceptual construction of the game's sustainable economic mechanism. The game experience is good, and it has a certain degree of playability. Currently, the chain game track still maintains a good scale in the current bear market. After Big Time is open with zero threshold, it may attract more players to join in the future.



ETHS hits new high, how advanced are the operational methods behind it?

On October 9th, amidst the silence of the Ordinals ecosystem, Ethscriptions, an imitation of BRC-20 Token, suddenly surged after being stagnant at 270-300 for 3-4 months, nearly doubling to 800U. Many were surprised, considering that Ethscriptions had no index, no trading market, and not even a technical document like BRC-20. Ethscriptions allows non-financial and arbitrary data to be written into the Ethereum blockchain, and users can record any type of file as long as it does not exceed 96 kilobytes in size.



盘点 16 个以色列概念币,基础设施和 DeFi 成为主力
Translated:

Inventory of 16 Israeli concept coins, with infrastructure and DeFi as the main focus

After the outbreak of large-scale conflicts between Israel and Palestine, many Web3 projects headquartered in Israel have attracted industry attention, and related concept tokens have also seen consecutive increases. As a recognized technology powerhouse in the world, Israel, although small in size, has become a force to be reckoned with in the field of encryption technology. This article will take stock of the Israeli Web3 projects that have issued tokens, covering many fields such as Layer2, DeFi, Layer1, NFT, and games, among which StarkWare has a valuation of up to 8 billion US dollars.



Interpreting the development status of RWA field in Solana ecosystem

In 2023, the tokenization of the real world has gained widespread attention and has been dubbed the "TradFi killer app" by JPMorgan Chase, as well as being hailed as the "next generation of the market" by Larry Fink, CEO of BlackRock. According to data from DeFiLlama, RWA has become the eighth largest sector in DeFi, with a TVL of $2.4 billion. This article will delve into the Solana RWA market, introduce various categories of RWA and top Solana projects in each category, and explore the future prospects of RWA on Solana, with a particular focus on the demand for RWA standards.



要在比特币上计算任何内容,资深开发者们怎么看 BitVM?
To calculate any content on Bitcoin, how do senior developers view BitVM?

The project leader of ZeroSync released a white paper titled "BitVM: Compute Anything on Bitcoin", which has caused a lot of discussion. In this white paper, reviewed by Super Testnet and Sam Parker, it can be seen that BitVM is a new computing paradigm designed by Robin Linus in Zero Sync, integrating Optimistic Roll Up, Fraud Proof, Taproot Leaf, and Bitcoin Script.



SBF's ex-girlfriend appeared in court, what insider information did she reveal?
The following is the main content of Caroline Ellison's testimony on the first day of the trial regarding the FTX case at SBF, where she was the former CEO of Alameda Research on Tuesday. "SBF actually controls Alameda and instructs Caroline to do everything."



Revealing the truth behind the madness of the Korean crypto market

This week, the Financial Intelligence Analysis Institute of the Financial Services Commission of South Korea released a report on the investigation of virtual asset enterprises in the first half of 2023. The report, which is 20 pages long, investigates 35 virtual asset enterprises (26 exchanges and 9 wallet and custodian providers) to present the current state of the virtual asset market in South Korea. Read this article to learn about the real situation of the virtual asset market in South Korea and the asset preferences of South Korean users.



Crypto art historical moment: Top art museums worldwide collect NFT for the first time

MoMA, the Museum of Modern Art in New York. At MoMA, you can see Van Gogh's "Starry Night", Picasso's "Young Girl of Avignon", Monet's "Water Lilies", and Rousseau's "The Dream"... During the Mid-Autumn Festival holiday, I introduced the "Abstract Beef" Beef Brothko, which has surged nearly 30 times. In that article, we mentioned Mark Rothko, an outstanding representative of the New York School of painting, whose works are also collected by MoMA.



BIGTIME went up nearly 20 times in two days after its launch. What other concept coins have been pulled up?

3A Chain Game Big Time token BIGTIME was listed on OKX at 10:00 on October 11th. In just two days, its price has increased nearly 20 times. In the overall bearish market, its wealth effect has sparked a small hot spot and a new narrative. This article summarizes some of the chain games and FBG concept coins that have been boosted in this BIGTIME hype for readers' reference.







SBF ex-girlfriend appears in court on the second day, shocking revelations



Interview with Eddie Yue, Chief Executive of the Hong Kong Monetary Authority: Hong Kong strives to become the world's blockchain center




Telegram communication group: https://t.me/theblockbeatsApp


#Binance#SBF#SSV#Neutron
2023-10-15 12:21
BlockBeats will compile industry news highlights for the week (9.25-10.1) in this article, and recommend in-depth articles to help readers better understand the market and industry trends.


Weekly News Recap


Three Arrows Capital co-founder Zhu Su arrested or sentenced to four months in prison in Singapore

On September 29th, the liquidator of Three Arrows Capital announced that the co-founder of the hedge fund, Zhu Su, was arrested while attempting to leave Singapore. Teneo, the failed cryptocurrency hedge fund, stated that it received a commitment order against Zhu Su after he failed to comply with a court order requiring him to cooperate with the liquidation investigation. According to a statement, Zhu Su has been sentenced to four months in prison. Read more: "Zhu Su sentenced to four months in prison, was still wishing everyone a happy Mid-Autumn Festival a few hours ago".



Celestia Airdrop is now online, with a total of 1 billion TIA tokens

Modular blockchain Celestia has announced that the airdrop is now online. 7,579 developers and 576,653 on-chain addresses will have the opportunity to join Celestia from the first block. Eligible participants can claim up to 60 million TIA (Celestia's native asset) before 8:00 PM on October 17, 2023. One-third of the total airdrop will be distributed to 7,579 developers, and two-thirds will be distributed to 576,653 on-chain addresses, including 20 million TIA allocated to the most active users of Ethereum rollups, 20 million TIA allocated to stakers and IBC relayers of Cosmos Hub and Osmosis. Related reading: "Celestia launches TIA token airdrop, overview of economic model and airdrop details"



Blocknative stops MEV-boost service due to economic concerns, raising worries about Ethereum relay centralization

On September 28th, Ethereum infrastructure service provider Blocknative announced that it will stop its MEV-boost relay service due to the inability to maintain economic benefits. With Blocknative ceasing operations and the remaining four relayers not charging service fees, the operators of the core part of Ethereum infrastructure are no longer profitable. If the economic incentive issue is not resolved, the centralization problem of relayers may further intensify. Related reading: "Another major MEV relay service shuts down, more than 90% of Ethereum block settlement will be controlled by 4 companies in the future"



Ordinals Founder Proposes Runes as a Replacement for BRC20

On September 26th, according to Cointelegraph, Casey Rodarmor, the founder of Ordinals, proposed a new protocol called Runes based on the Bitcoin network, which will serve as a potential replacement for BRC20. Casey Rodarmor stated that alternative token protocols like Runes will not leave behind a large amount of "garbage UTXO" on the Bitcoin network like BRC20 tokens.



HTX Hot Wallet Hacked, Losses Approximately $7.9 Million

On September 25th, according to Cyvers Alerts, HTX's hot wallet was hacked, resulting in approximately $7.9 million in losses. Justin Sun, a member of HTX's global advisory committee, stated that HTX has fully borne the losses caused by the attack and that the platform is operating normally. Related reading: "HTX Hacked, Resulting in $7.9 Million in Losses".



Binance completely exits the Russian market and sells its business to CommEX

On September 27th, according to an official announcement, Binance announced that it will sell all of its Russian business to CommEX, and an agreement has been reached. In order to ensure a smooth transition for existing Russian users, the delisting process will take up to one year. All assets of existing Russian users are protected safely and reliably.



SlowMist: Mixin Network cloud service provider's database was attacked, involving about $200 million

On September 25th, SlowMist MistTrack stated on social media that Mixin Network's cloud service provider's database was attacked, involving about $200 million. SlowMist is assisting with the investigation. In the afternoon of the same day, Mixin founder Feng Xiaodong responded in a live broadcast that the damaged assets were mainly Bitcoin core assets, and assets such as BOX and XIN did not appear to be severely stolen. Regarding the stolen assets, the official stated that a maximum of 50% will be compensated, and the remaining part will be compensated in the form of bond tokens. In the future, the official will use profits for repurchase. In addition, Feng Xiaodong also stated that Mixin will launch a new system for user asset migration, but the assets that can be transferred are currently only half of the user's balance.



GameFi project Tiny World related personnel suspected of being investigated by the police

On September 28th, according to Wu Blockchain News, it was learned from multiple investors that the GameFi project Tiny World related personnel were suspected of being investigated by the police. Tiny World is the original EOS Three Kingdoms team. In 2022, Tiny World completed a $2.5 million financing round, which was participated by HashKey, SNZ, Sky9 Capital, Everest Ventures Group (EVG), TokenPocket, Cipholio, Foresight Ventures, COCOS-BCX, and others. Analysts pointed out that currently, chain games in China are highly likely to be associated with crimes such as running gambling operations.



The 4 companies currently applying for Hong Kong licenses are: HKVAX, HKBitEx, Hong Kong BGE Limited, and Victory Securities.

Since the new virtual asset regulations in Hong Kong came into effect on June 1st, in addition to the two cryptocurrency trading platforms (OSL Digital Securities Limited and Hash Blockchain Limited) that have already been licensed, four other companies have applied for licenses. The regulatory agency stated that these four companies are HKVAX, HKBitEx, Hong Kong BGE Limited, and Victory Securities.



MicroStrategy Buys 54,45 Bitcoins for Approximately $147.3 Million

On September 25th, MicroStrategy founder Michael Saylor announced on social media that the company had purchased approximately $147.3 million worth of 54,45 Bitcoins between August 1st and September 24th, with an average price of $27,053 per Bitcoin. As of September 24th, 2023, MicroStrategy has purchased a total of 158,245 Bitcoins for approximately $4.68 billion, with an average price of $29,582 per Bitcoin.



Valkyrie Bitcoin Futures ETF approved to convert to Bitcoin and Ethereum Futures ETF

On September 29th, according to CoinDesk, the US SEC has approved Valkyrie to convert its existing Bitcoin Futures ETF to a Bitcoin and Ethereum Futures ETF. The new fund will be renamed "Valkyrie Bitcoin and Ethereum Strategy ETF" and will officially take effect on October 3rd, with the code remaining as BTF. A Valkyrie spokesperson stated that the Valkyrie Bitcoin Strategy ETF has begun to increase exposure to Ethereum Futures contracts, making it the first ETF in the US to offer exposure to both Ethereum and Bitcoin Futures contracts. The approval of the Valkyrie Ethereum Futures ETF was due to its supplement to the prospectus and updated risk disclosures related to Ethereum Futures.



LooksRare updates token economic model, 50% of future fees will be used to repurchase LOOKS tokens

On September 30th, according to official sources, NFT marketplace LooksRare updated its token economic model. 50% of future fees will be used to repurchase LOOKS tokens from the market, 10% will be used as LooksRare protocol rewards, and 40% will be contributed to the protocol treasury. Starting from October 1st at 5:00 PM (Beijing time), LooksRare will add the generated fees to the protocol rewards. The previous transaction reward mechanism will also end at the same time, and the LOOKS tokens previously allocated to transaction rewards will be sent to the treasury and used as incentives for future products and plans. This move aims to ensure the most effective allocation while further incentivizing new and existing products.



This Week's Popular Articles


No "Innovation" Friend.tech, Gave a Product Lesson to the Coin Circle

This article is not intended to discuss whether ft is the social Uniswap moment (Is Friendtech the Uniswap Moment for Social). Instead, based on the social platform of friend.tech founder Racer and known information, we will start from the first login interface and analyze the protocol and infrastructure used by ft. If there are any protocols that have not been covered, readers are welcome to inform us so that we can supplement them.



BBC Documentary: The Rise and Fall of SBF's Cryptocurrency Empire

On September 26th, the BBC released a documentary called "BBC Panorama 2023: Downfall of the Crypto King SBF & FTX" which was produced by BBC. In the nearly 90-minute film, the rise and fall of SBF and his crypto empire FTX were almost fully displayed. The film includes early views and conversations of SBF, as well as interviews with SBF's colleagues and FTX users.



被盗近 2 亿美元,李笑来的 Mixin 开启回忆杀

Translation:

Stolen nearly $200 million, Li Xiaolai's Mixin triggers memories

On September 25th, SlowMist MistTrack posted on social media that the database of Mixin Network cloud service provider was attacked, involving approximately $200 million. Later, Pidan disclosed the details, and the stolen assets included approximately $94.48 million worth of ETH, $23.55 million worth of DAI, $23.30 million worth of BTC, and so on. Two days later, Mixin officials stated that most of the asset inventory work had been completed and that "the loss is not as severe as estimated."



Bitcoin's new FT protocol emerges, and Ordinals founder can't bear BRC anymore

The founder of the Bitcoin NFT protocol Ordinals, Casey Rodarmor, has proposed a new Bitcoin FT protocol design concept called "Rune". This protocol is also known as the "Rune" protocol. How is this protocol different from FT protocols such as BRC-20 and Taro/RGB on the Lightning Network? Why did Casey suddenly propose the idea of the "Rune" protocol? What progress has been made in less than a day since the idea was proposed?



Binance sells Russian business as major trading platforms retreat from regional markets this year

On September 27th, Binance announced that it will sell all of its Russian business to CommEX, and an agreement has been reached. In order to ensure a smooth transition for existing Russian users, the delisting process will take up to one year. All assets of existing Russian users are protected safely and reliably. However, not only Binance, but also many other cryptocurrency exchanges, including Karken and Bybit, have announced their withdrawal from multiple regional markets this year. Cryptocurrency exchanges are once again facing regulatory tightening issues.



Celestia launches TIA token airdrop, check out the economic model and airdrop rules

The genesis block of Celestia is expected to launch a modular data availability network later this year. This will be followed by TIA, the native asset of Celestia. Like other permissionless protocols, TIA can participate in network consensus as well as decentralized governance of network parameters and community pools.



Interview with Worldcoin CEO: Surprising Enthusiasm from Asian Markets

Worldcoin's official statement indicates that over 200,000 Chileans have completed World ID verification, which is more than 1% of Chile's total population of 19.5 million. BlockBeats reporters recently interviewed Worldcoin CEO Alex Blania to discuss the latest developments of Worldcoin and answer readers' questions about Orb pricing, Worldcoin's profitability, and how to deal with regulation.



All DAO organizations are either forking or on the path to forking.

Establishing a sound forking mechanism does not necessarily mean encouraging forking, but forking may be an inevitable outcome of DAO's move towards decentralization. Does the forking mechanism always lead to forking? How does the crisis of trust occur? In addition to decentralization, does DAO also need to be "dehumanized"? To what extent should dehumanization be reasonable? As the Nouns fork progresses, the debate over DAO forking is once again brought to the stage, forcing the entire crypto community to re-examine DAO governance and re-understand forking. These issues may be a continuous challenge for all DAO organizations.



Founder of Aave repays all debts, does Curve finally get out of danger?On September 27th, according to DeBank data, Michael Egorov, the founder of cryptocurrency exchange Curve, repaid a debt of 356,000 USDT on Aave V2, and has now fully repaid all debts on Aave. Since the end of July when it was attacked, the founder of Curve has received a lot of attention due to high leverage debt positions.



Ethereum is devouring all blockchains

If history is a harbinger, then Ethereum will devour the entire blockchain space, and not just a part of it. Eventually, Ethereum's second-layer solutions will become Ethereum's first-layer solutions. I believe that the recent decision by CELO stakeholders to transition their operations to Ethereum's second-layer solution is just the beginning of a process of integration and transformation that will ultimately lead us to Ethereum becoming the first-layer solution for all blockchains.



Binance sells Russian business as major trading platforms retreat from regional markets this year

On September 27th, according to an official announcement, Binance announced that it will sell all of its Russian business to CommEX, and an agreement has been reached. In order to ensure a smooth transition for existing Russian users, the delisting process will take up to one year. All assets of existing Russian users are protected safely and reliably. Looking to the future, Binance recognizes that conducting business in Russia is incompatible with Binance's compliance strategy. Binance remains confident in the long-term growth of the global Web3 industry and will focus its efforts on more than 100 other countries where it conducts business.



盘点 9 大赛道 50 个潜力项目,以归零心态以小博大

Translation:

Review of 50 potential projects in 9 major tracks, aiming for big success with a zero-based mindset

The story originated from the bottom of the last bear market, when a friend in the industry established a "zero-return fund" and diversified the funds to buy 50 small-cap altcoins with the mentality of expecting small gains from high risks. In the end, they hit several hundred to several thousand times the increase in probability coins such as AAVE and LINK, and achieved a return of tens of times in the bull market. This successful investment experience is impressive, but it also reminds us that luck plays a big role in catching probability coins, and it is more suitable to use the "fishing net method" to capture them through probability.



5600 million US dollars airdrop has no takers, can incentive measures reactivate the Arbitrum ecosystem?

Arbitrum network's TVL fell below $5 billion in the past month, and in an effort to revive its ecosystem, a series of incentive measures were introduced. However, there have been instances of "arbitrage" by project parties.


Welcome to join the official community of BlockBeats by LUDONG

Telegram subscription group: https://t.me/theblockbeats

Telegram communication group: https://t.me/theblockbeatsApp

Twitter official account: https://twitter.com/BlockBeatsAsia


#Celestia Network#Ordinals#HTX#Mixin
2023-10-01 09:46

Hong Kong, September 27, 2023 - The EDGE Global AI & Web3 Investment Summit successfully concluded yesterday, with one of the most anticipated sub-forums being "WEB3 Technology and Anti-Money Laundering". Government representatives, industry experts, investors, and business practitioners gathered together to explore the latest trends in global financial anti-money laundering and innovative opportunities for Hong Kong in financial system anti-money laundering and counter-terrorism financing compliance measures.


With the rapid development of financial technology and the widespread application of blockchain technology, Web3.0 is gradually becoming a new tool for anti-money laundering in finance. As one of the most important financial centers in Asia, Hong Kong faces the threat of financial crimes such as money laundering and terrorist financing due to its geographical location and the complexity of its financial business. Therefore, the Hong Kong Monetary Authority has been strengthening its regulatory and preventive measures against anti-money laundering. The application of Web3.0 technology can provide more efficient, secure, and transparent solutions for anti-money laundering, helping to prevent financial crimes such as money laundering and terrorist financing.



The sub-forum brought together a series of leaders, witnessing their high attention and strong support for the theme of this event. The opening ceremony was hosted by Thomas Cheung, a Hong Kong Justice of the Peace, former Hong Kong National People's Congress representative, and President of the Hong Kong Blockchain Association HKBA.club. In his speech, he emphasized the huge potential of Web3 technology in the financial field and the importance of this technology in anti-money laundering work.



Meanwhile, Mr. Eddie Yue, Director and Chief Executive of the Hong Kong Monetary Authority, and Mr. Dong Yiyue, Director and Head of Policy Research at the Hong Kong Institute of Monetary Research, also shared their insights on the application scenarios and development prospects of Web3 and the blockchain industry.


He pointed out that in 2021, the Hong Kong Special Administrative Region government issued a series of policies related to cryptocurrencies. At that time, many people were concerned about whether Hong Kong should continue to promote cryptocurrency-related affairs. However, in reality, the Hong Kong Monetary Authority is not a regulatory body, but a government agency established by the Hong Kong Special Administrative Region government. The Hong Kong Monetary Authority's mission is to regulate the financial market while promoting its development. Over the past decade, the Hong Kong Monetary Authority has issued approximately 60 reports covering multiple areas such as regulation, market promotion, and policy recommendations.


In addition to policy research, the Hong Kong Financial Development Bureau also participates in market promotion and talent training. Among them, the application of blockchain technology is a key area that the Hong Kong Financial Development Bureau believes is relevant to everyone. The application of blockchain technology is not only related to cryptocurrency, but it can also have important impacts in other fields.


As an international financial center, Hong Kong needs to retain blockchain technology and related talents in order to serve the financial industry. This requires the creation of appropriate regulations and business environment to attract talents and businesses to stay in Hong Kong.


In addition, the Hong Kong Monetary Authority is also paying attention to the application of blockchain technology in the field of anti-money laundering. Blockchain technology can improve the traceability of transactions and help prevent money laundering activities. The Hong Kong Monetary Authority is also actively participating in international cooperation to share best practices and experiences.



The roundtable discussion in the sub-forum will be hosted by Andy, the founder of Blockchain Academy, with the theme of "Strengthening cooperation and innovation opportunities in Hong Kong's anti-money laundering system". The experts participating in the discussion include Liangdian Capital partner, Lau Wai Sun, adjunct professor at the Chinese University of Hong Kong, Belt and Road Technology Finance Association, Hong Kong Blockchain Association Federation Chairman Tang Yi, and Flashwire co-founder Chen Hao, a compliant digital bank in the Asia-Pacific region.



In this sub-forum, participants delved into how Web3 technology can provide innovative solutions for anti-money laundering, including how the decentralized nature of blockchain technology ensures the security and traceability of transactions. At the same time, the automation of smart contract execution is also considered to improve the efficiency and accuracy of anti-money laundering work.


This event brought together a series of important institutions and well-known figures in the field, not only bringing valuable opportunities to Hong Kong's fintech industry, but also pointing the way forward for the development of global anti-money laundering efforts. It provides stronger support for the security and transparency of financial transactions. Through cooperation and innovation, we hope to build a stronger and more sustainable anti-money laundering system, contributing to the stability and development of the global financial system.




In addition, it is worth mentioning that the success of the EDGE Summit is also due to the support of several government agencies in Hong Kong, as well as the hosting and cooperation of Vertex Labs, AGI Society, Luna PR, and others. The summit, led by Vertex Labs, will continue to expand globally, committed to integrating investment, technology, and fashion, contributing to innovation and compliance in the financial industry, and ensuring the stability and sustainable development of the global financial system.


This article is from a submission and does not represent the views of BlockBeats.


#EDGE Summit
2023-09-29 12:00

BlockBeats will compile industry news highlights for the week of 9.18-9.24 in this article, and recommend in-depth articles to help readers better understand the market and stay informed of industry trends.


Weekly News Recap


SEC and Binance.US holding company BAM to hold hearing on October 12th

On September 19th, according to The Block, a Washington, D.C. judge encouraged Binance and the U.S. Securities and Exchange Commission (SEC) to work together to provide more information on how Binance.US handles customer assets. Binance.US holding company BAM stated that the SEC's requirements were "overly broad and burdensome." SEC and BAM have agreed to hold a hearing on October 12th and submit a joint status report by October 10th.



Bloomberg: US SEC fails to convince judge to launch deep investigation into Binance.US immediately

On September 19th, according to Bloomberg, the US Securities and Exchange Commission (SEC) failed to convince a federal judge to allow officials to launch an immediate deep investigation into Binance.US's software. The SEC stated that it has been difficult to obtain information from Binance.US since it sued Binance.US and CZ in June this year. On Monday, the SEC requested that a federal judge, Zia Faruqui, allow it to inspect Binance.US's technical infrastructure and force the company to share other necessary information. The judge stated that he is "not currently inclined to allow an investigation to proceed" and that the SEC should make more targeted requests and speak with more witnesses.



Grayscale announces abandonment of ETHW token rights

On September 18th, Grayscale announced on behalf of the shareholders of its various products as of the record date ending on September 26th, 2022, that they have irrevocably waived all rights to the ETHW (ETHPoW) allocated to such record date shareholders. Grayscale stated that after thorough review and consultation with product service providers, the product custodian does not support the ETHPoW token and has not developed a trading venue with meaningful liquidity for the ETHPoW token. Therefore, the right to purchase and sell ETHPoW tokens cannot be exercised, and Grayscale represents that record date shareholders have waived their rights to these assets.



Singapore's largest money laundering case involves assets worth a total of 2.4 billion Singapore dollars, with 38 million Singapore dollars worth of cryptocurrency seized

On September 20th, according to the Lianhe Zaobao, in the largest money laundering case in Singapore's history, the Singapore police have seized assets worth more than 2.4 billion Singapore dollars (equivalent to 1.272 billion yuan) and issued a disposal order. In addition, the police have frozen bank accounts with deposits of more than 1.127 billion yuan, cash of more than 76 million Singapore dollars (including foreign currency), 68 gold bars, 294 luxury bags, 164 watches, 546 pieces of jewelry, more than 38 million Singapore dollars (equivalent to about 200 million yuan) worth of cryptocurrency, and 204 electronic devices.



Singapore banks strengthen checks on Chinese customers holding "investment-related" passports

On September 21, according to the Singapore Business Times, following last month's crackdown on money laundering activities involving assets worth more than SGD 2.4 billion, Singapore banks are stepping up scrutiny of some customers born in China but holding passports from other countries. Sources said that some banks have been reviewing new account openings and transactions with Chinese customers holding investment-related passports. At least one international bank is closing accounts of customers holding citizenship from countries such as Cambodia, Cyprus, Turkey, and Vanuatu. Other banks in Singapore have started evaluating whether to accept new funds from such background customers based on case-by-case assessments, which will take longer. At least 10 local and international banks in Singapore have been implicated in the high-profile money laundering scandal, raising concerns about their effectiveness in combating illicit gains. Singaporean parliamentarians raised more than 30 questions in parliament this week, covering issues such as the rigor of their review procedures, suspicious transaction reports, and the reputation impact on Singapore as a wealth center.



Ethereum core developer: Due to the failure of Holesky testnet launch, the activation of Dencun mainnet may not happen this year

On September 22, Christine Kim, Vice President of Research at Galaxy, summarized the 118th Ethereum core developer consensus meeting (ACDC). The meeting mainly discussed the preparation work for Devnet-9 and changes to the Ethereum consensus layer (CL). Ethereum core developer Tim Beiko questioned the Dencun test schedule at this meeting, as it was previously suggested to launch Dencun in the following testnets in order: Holesky, Goerli, and then Sepolia. However, due to network configuration errors, the Holesky testnet launch failed and will be restarted on September 28. Therefore, Tim Beiko stated that if developers cannot ensure the release of Dencun on the public testnet before the Ethereum developer conference Devconnect in November 2023, the activation of Dencun mainnet is unlikely to happen this year.



A whale user bought ETH call options worth $150 million on Deribit

On September 18th, according to data from the options tracking website Greeks.Live, a whale user purchased nearly 92,600 ETH call options contracts worth $150 million on the cryptocurrency trading platform Deribit. Greeks.Live stated that the whale had over 40,000 ETH call options contracts expiring in December at a price of $2,200, and nearly 50,000 call options contracts expiring in October at a price of $2,000.



A $3 Billion Bitcoin Options Contract Will Expire at the End of the Month, Potentially Causing Market Volatility

On September 22nd, data showed that a Bitcoin options contract worth approximately $3 billion and an Ethereum options contract worth $1.8 billion will expire on September 29th. Deribit's Chief Commercial Officer, Luuk Strijers, emphasized the similarities between the cryptocurrency market and traditional finance in the days leading up to options expiration (especially quarterly expiration). Strijers pointed out that "this could lead to significant trading volume and volatility. The actions of market makers could exacerbate market volatility, especially before the options expire. Market makers will adjust their hedges to accommodate changes in the underlying asset price."



Insider: Ant Group Plans to Withdraw Investment from A&T Capital

On September 18th, according to insiders, Ant Group is planning to withdraw its investment from A&T Capital. It is currently unclear whether A&T Capital will continue to operate or attract new investors. A&T was established in April 2021 and has invested in some of the hottest crypto startups, including digital asset lending institution Matrixport and Ethereum software manufacturer ConsenSys, with total assets under management of approximately $100 million. Ant Group is the main investor of A&T.



Optimism Launches Third Airdrop, Directly Distributing Over 19.41 Million OP to 31,870 Addresses

On September 19th, Optimism, an Ethereum layer 2 scaling solution, announced that it has started the third airdrop at 2:10 AM Beijing time on September 19th. The airdrop will distribute a total of 19,411,313 OP tokens directly to 31,870 unique addresses without the need to interact with any website. These addresses are those who delegated their OP voting rights during the snapshot period from 8:00 AM on January 20th, 2023 to 8:00 AM on July 20th, 2023, Beijing time.



Mt.Gox extends repayment deadline from October 31, 2023 to October 31, 2024

On September 21, according to an official announcement, cryptocurrency exchange Mt.Gox announced a change in repayment deadlines. The deadline for basic repayment, early lump sum repayment, and midterm repayment, originally set for October 31, 2023, has been extended to October 31, 2024.



DeFi Yield Aggregator Gro Protocol to Cease Operations and Dissolve Gro DAO

On September 20th, according to the Snapshot governance page, the DeFi yield aggregator Gro Protocol community voted with a support rate of 70.95% to pass the proposal to "dissolve Gro DAO and no longer operate the protocol", and provide clear exit strategies for stakeholders. Related reading: "Multiple projects announce shutdowns, is the crypto industry facing a 'shutdown wave'?"



Binance Labs' sixth season incubation program announces 12 projects covering DeFi, infrastructure, and other fields

On September 21st, Binance Labs announced that 12 high-potential project teams covering DeFi, infrastructure, and application layers have been approved to join this season's Binance Labs incubation program. The two-month comprehensive course aims to provide founders with resources and one-on-one guidance throughout the entire Binance ecosystem. For more details, please click to view: "12 new projects, Binance Labs' sixth season global incubation program project overview".



Ethereum Network Gas Suddenly Soars Due to Binance Wallet Maintenance

On September 21st, according to Etherscan data, the Ethereum network gas fee suddenly soared, reaching over 300 gwei at one point. Binance spent 223.29 ETH in the past 3 hours, ranking first on the Ethereum mainnet. Subsequently, Binance co-founder He Yi responded on social media that the reason for the surge in gas fees was due to Binance wallet maintenance. He confirmed that "it has been a long time since we collected, and now the collection cost is low, while the gas was too expensive before."



CZ Responds to Executive Departures: Binance Hires Over 600 New Employees During the Same Period

On September 19th, Binance founder CZ stated during an internal event: "The entire industry needs a high degree of compliance, and Binance has made significant investments in talent, compliance, processes, and technology. Although many people have been discussing the departure of many senior executives from Binance recently, many people have also joined Binance, and we have added about six to seven hundred new employees in the past few months. We hope to attract more talent to join this industry or join Binance."


This Week's Popular Articles


The Most Shocking Speech in Cryptocurrency History: Why We Are Here

On September 14th, at the world's largest DeFi event Permissionless II co-hosted by Blockwork and Bankless, senior industry OG and founder of ShapeShift, Erik Voorhees, delivered a brilliant speech. In this speech, Erik delved into the future of finance, the comparison between code and human law, and the power and potential of decentralized finance. With his profound thinking and rich industry experience, he expressed his firm support for open and permissionless finance, and criticized the current financial regulation and traditional financial system.



Listen to the Shenyu Community AMA: Industry ups and downs for more than a decade, don't challenge human nature

The social platform AAAny has been gaining popularity, and today, Shen Yu has registered on the new social platform AAAny and interacted with netizens on the platform to answer their questions. BlockBeats has compiled the following Q&A. I am Shen Yu. In 2011, I accidentally entered the crypto field. I have traded coins, blown up warehouses, mined, made chips, and bankrupted several companies. I am still active in the front line and operate two companies, F2Pool and Cobo. Let's AAA.



DWF is excluded by all peers, GSR says "not worthy to be on the same stage as other market makers"

During Token 2049, the "Web3 Connect" forum hosted by C² Ventures unexpectedly sparked a battle among cryptocurrency market makers, with DWF Labs at the center of the controversy. Market maker GSR took to Twitter to express anger that DWF Labs was not qualified to sit with fellow speakers GSR, Wintermute, and OKX at the forum, considering it an insult. Wintermute's CEO liked the tweet. The new market maker, DWF, was ostracized and attacked by peers, and DFW's co-founders subsequently launched a strong counterattack online.



Interview with Wintermute: We are liquidity providers, not market makers

BlockBeats exclusively interviewed Yoann Turpin, co-founder of Wintermute, a well-known market maker in the cryptocurrency industry, at the TOKEN2049 conference, exploring the "wild west" of market makers. What is the current size of Wintermute? According to the official website, as of the time of publication, its cumulative trading volume has exceeded 2 trillion US dollars. According to watchers data, the largest trading asset of Wintermute currently comes from Ethereum, but it accounts for less than 1% of the token composition of its trading.



Interview with DWF Labs: We don't manipulate anything

Since March, DWF Labs has been sweeping the secondary market at a rate of 5 projects per month, frequently making large investments, sparking heated discussions in the community. Andrei Grachev, managing partner of DWF Labs, said in an interview that in most cases, DWF Labs invests in projects by directly purchasing tokens. However, the community believes that DWF is not a real investor and is only holding coins for market making. BlockBeats recently conducted an exclusive interview with DWF Labs, a well-known market maker in the cryptocurrency industry, to uncover the truth behind the liquidity controversy that has arisen in the community.



Interview with Celestia: Modularization, Ethereum, and the future of scaling in the crypto world

Some in the industry believe that Celestia is the most important underlying innovation in the blockchain industry since Ethereum. Both Ethereum and Celestia are building secure foundational layers. BlockBeats exclusively interviewed Celestia's co-founder and COO Nick White at the TOKEN 2049 conference to explore the relationship between Celestia and Ethereum, as well as the story behind Celestia.



Multiple projects announced shutdowns in succession, is the cryptocurrency industry facing a "shutdown wave"?

According to BlockBeats' incomplete calculation, there were 9 projects, exchanges, and communities that shut down in the cryptocurrency industry in 2021, 17 in 2022, and 27 in 2023. At the same time, in 2023, the growth rate of shutdown projects is getting faster, increasing from an average of 1 per month to a maximum of 5 per month. Behind these events, every participant in the cryptocurrency industry, from community operations to project financing, has felt the chill of the bear market.



A16Z Invests in 4 Projects in One Week, Are They Starting to Bottom-Fish in the Cryptocurrency Industry?

Since the second quarter of this year, the investment strategies and scale of major VCs in the encryption market have been shrinking due to the deep bear market. According to incomplete statistics from BlockBeats, the number of weekly financing in the encryption field has remained at around 10 transactions in the past few months, while last year, this data was still around 30 transactions per week, and even as high as 60 transactions per week. However, at the end of the third quarter, some first-tier encryption VCs have become active again. Taking a16z as an example, in just over a week, it has successively led four encryption projects with a total financing scale of 76.6 million US dollars. The "a16z team" seems to have started their bargain-hunting in the encryption industry.



IOSG founder's experience at the conference: project parties and VCs are running out of money, Token2049 becomes the last hope for financing

LP continues to support early-stage VCs that promote growth within the industry, while VCs continue to support founding teams in emerging fields. It seems like everything is moving in a positive direction. However, the reality is quite different. For many teams, this 2049 may be their last chance for funding. If the bear market does not end, this could be their team's final opportunity for exposure, as most early-stage teams have exhausted their runway in the past two years of expansion.



Inventory of Binance Labs' Potential Unreleased Projects

Among the active VCs in the industry, Binance Labs topped the list of "Which VCs Love Airdrops More" with a 15.4% investment target airdrop rate, far surpassing major VCs such as a16z, Coinbase, and Multicoin. Binance Labs can be said to be one of the important participants in project investment and incubation. In order to find gems in Binance's investment portfolio, this article will delve into various aspects of Binance Labs, including its introduction, advantages, and investment layout, and then focus on projects in Binance's investment portfolio that have not yet been launched but have certain airdrop expectations.



Paradigm Founder: Cryptocurrency, a New Planet Being Colonized

We can think of cryptocurrency as a new planet that is being colonized. Many critics see it as a barren and worthless planet, even as a dirty casino. However, optimists see the potential of this untapped land: a place where more advanced financial systems and internet platforms can be built. The newcomers are diverse, including explorers attracted by cutting-edge technology and some unscrupulous speculators. Innovators and researchers are attracted by new possibilities, while ordinary people, especially those marginalized on Earth, are also joining their ranks.



TON Space: Telegram's future encrypted "WeChat wallet"

On September 13th, the TON Foundation announced that it will launch TON Space, a self-custody digital wallet based on Telegram, globally in November. However, the service will not be available in the United States and some other countries. After the Telegram Bot craze this year, Telegram is seen as a testing ground for the promotion of Web3.



Folius Ventures: Identify Web3 game entrepreneurial competition pattern and potential new opportunities

Against the backdrop of improving global gaming industry standards and overcapacity, Web3 has become one of the ways for game developers to recover costs due to its high profit margins throughout the entire lifecycle, attracting many Web2 teams. However, the current supply side of Web3 is overcapacity, and the demand side is lacking liquidity, and after two years of development, the drawbacks are gradually becoming apparent. Therefore, this research report outlines the competitive landscape of the Web3 gaming industry and existing viable entrepreneurial opportunities.



Analysis of Friend.tech's economic model: game theory, expected value, and demand curve

The economic model of Friend.tech looks very simple: (1) Key price increases with quantity (2) A 10% transaction fee is charged for each transaction, which is shared equally by the protocol and Key issuer (3) Points will be distributed to users in the next 6 months. The best way to understand the economic model is to put yourself in the shoes of the project team. [If I were to design an economic model, what should I do?] The starting point is that we hope to create a SocialFi product, but past experience and the current market liquidity make it difficult for us to be optimistic about this. Therefore, we hope to create a product with some Ponzi properties to complete the cold start.



After 17 months, the PFP project of top NFT artists is finally going on sale

On September 19th, the renowned NFT artist FEWOCiOUS finally announced the casting details of his PFP project Fewos. After 17 months, Fewos finally stumbled onto the starting line. Will Fewos succeed in the face of scandal and market indifference towards PFP? We wait and see.



Close Truffle Suite, Consensys to focus on promoting MetaMask Snap

On September 22nd, Consensys, an Ethereum infrastructure development company, announced on social media that it will be shutting down its development tools Truffle Suite and Ganache, and partnering with HardHat, another Ethereum developer tool platform, to provide a smooth transition for developers currently using Truffle Suite and Ganache. Consensys also added that it will focus on expanding its Infura, MetaMask Snaps, and SDK products. Truffle Suite and Ganache are both popular tools in the blockchain ecosystem, but Consensys has chosen to prioritize MetaMask and Infura, perhaps in consideration of building a better Ethereum ecosystem and creating a larger platform.



Welcome to join the official community of BlockBeats by LUDONG

Telegram subscription group: https://t.me/theblockbeats

Telegram communication group: https://t.me/theblockbeatsApp

Twitter official account: https://twitter.com/BlockBeatsAsia

#a16z#DWF Labs#Binance#Binance US
2023-09-24 11:03

BlockBeats will summarize the industry's key news content for the week of 9.11-9.17 in this article, and recommend in-depth articles to help readers better understand the market and industry trends.


Weekly News Recap


zkSync Airdrop Hunter or Owner of 21,877 Witch Addresses, Builds DEX Interaction to Win Airdrops

On September 11th, according to community user @lingland09, a zkSync ecosystem airdrop hunter or owner of 21,877 interaction addresses, used a witch strategy: providing a small amount of ETH for all his wallets, and then deploying the non-open source Token Gemstone. Then, he listed his 21,877 witch addresses as token whitelist and later claimed all the tokens he deployed himself. The address trades every month, week, and day, with a transaction fee of only $1.5-2 for each witch address, completing a total trading volume of $10,000 and 10 transaction times to make its on-chain behavior similar to the airdrop issuance qualifications of other Layer 2 projects.



FTX has been granted court approval to liquidate its cryptocurrency assets

On September 14th, a Delaware district judge approved an order allowing bankrupt cryptocurrency exchange FTX to sell or invest its $3.4 billion worth of cryptocurrency. The plan shows that most tokens can only be sold for $100 million per week, but the upper limit for each token may be permanently increased to $200 million. When selling bitcoin, ethereum, and other tokens, the management agency needs to notify the US trustee's office 10 days in advance. Related reading: "Analysis of FTX's top ten digital asset holdings, how much selling pressure will it bring?"



CoinEx suffers hacker attack, losses rise to $54 million

On September 13th, according to the latest data from PeckShieldAlert, the amount of losses suffered by the cryptocurrency exchange CoinEx in this hacking incident has been updated to $54 million. On September 14th, the cryptocurrency exchange CoinEx released an update on the hacking incident, stating that the preliminary determination is that the cause of the incident was the leakage of the hot wallet private key, and that the investigation and handling work is being carried out in an orderly manner. The assets in CoinEx's cold wallet have not been affected by this incident. CoinEx stated that it is working hard to rebuild the wallet system, including 211 chains and 737 tokens, and will gradually restore deposit and withdrawal services after ensuring the safety of assets. CoinEx said it will fully compensate all parties affected by the hacker incident.



Justin Sun: Considering making a tender offer for tokens and assets held by FTX

On September 12th, Justin Sun, the founder of TRON and a member of Huobi's global advisory committee, posted on social media that he is considering making a tender offer for tokens and assets held by FTX in order to reduce its impact on the crypto community when sold.



Multiple perpetual contract trading pairs on OKX experience "needle insertion" market, TRB fluctuates over 90%

On September 13th, according to OKX market information, multiple perpetual contract trading pairs including TRB, PERP, WLD, YGG and other currencies experienced "needle insertion" market, with TRB fluctuating over 90% in a short period of time and PERP fluctuating up and down by 22%. Subsequently, the official Chinese Twitter account of OKX Europe stated that from 3:38 to 3:43 pm (UTC+8) on September 13th, some contract targets on the platform experienced abnormal prices. After investigation, it was found that the problem was caused by the abnormal limit order service on the platform, which resulted in some contracts being unable to be normally placed, causing price deviations and triggering liquidation or stop loss for some users. OKX will compensate users who suffered losses due to liquidation or stop loss caused by this issue. The specific compensation information is as follows:




Arthur Hayes: Bitcoin will quickly rise to $70,000 after the Fed's interest rate cut decision

On September 12th, BitMEX founder Arthur Hayes wrote in his blog that if the Fed continues to raise interest rates, the real interest rate will become more negative and will remain so in the foreseeable future. The reason why Bitcoin has not reached $70,000 is because everyone is focused on the nominal Fed interest rate and not comparing it to the stunningly high nominal GDP growth in the United States. Related reading: "Arthur Hayes Singapore TOKEN2049 speech in full: the next bull market will start in early 2024".



BM's NFT platform Voice announced shutdown, formerly raised $150 million

On September 14th, NFT platform Voice announced that it will cease operations in a few months due to the high uncertainty of the cryptocurrency and NFT market. Voice stated that new user registration has been suspended and the trading market has been closed. Old user assets are safe and can be migrated to EOS, Polygon, and Ethereum in a few weeks. Assets will be retained on the Voice platform until December 31, 2024. Related reading: "EOS founder BM's platform Voice announces shutdown: a four-year, $300 million attempt"



PolkaWorld, a well-known media outlet in the Chinese Polkadot community, announced the suspension of its operations

On September 15th, PolkaWorld, the Chinese community of Polkadot, announced that it had suspended its operations for half a month due to the rejection of its proposal for official funding. PolkaWorld also criticized OpenGov, Polkadot's new governance framework. The original intention of OpenGov was to make Polkadot's governance more decentralized while improving the efficiency and transparency of the treasury. However, the management mechanism of the treasury under this framework has caused many long-term contributors and organizations to have their funding applications repeatedly rejected, forcing these groups to leave the Polkadot ecosystem.



PayPal Launches Cryptocurrency to USD Exchange Service

On September 12th, according to official sources, PayPal launched a cryptocurrency to USD exchange service, allowing customers to buy and sell supported cryptocurrencies in the United States (subject to applicable state laws) through the integration of On and Off Ramps. Cryptocurrencies can be directly exchanged into USD and transferred to PayPal balance, which can be used for shopping or transferred to a bank account. This service supports use in wallets, DApps, NFT markets, and MetaMask.



Huobi officially renamed as HTX, official X account has updated information

On September 13th, BlockBeats reported on the front line of Token2049 that the cryptocurrency exchange platform Huobi officially changed its name to HTX on its tenth anniversary. Currently, the Huobi official X account has been renamed as HTX, and the handle has been changed to @HTX_Global. According to insiders, Huobi's work email has already been changed to the @HTX suffix in August 2022.



Arbitrum Community Proposes "Distributing 75 Million ARB Incentives to Ecological Protocols"

On September 11th, according to the Snapshot page, the Arbitrum community proposed the "Distribution of 75 million ARB incentives to active protocols in the Arbitrum ecosystem" plan, which aims to meet short-term community needs. The plan will distribute ARB owned by DAO to incentivize projects, while ensuring transparent consensus and distribution methods. The plan spans two rounds of voting and provides incentives for eligible projects, aiming to provide funding for incentive measures before January 31, 2024.



Asset management giant Franklin Templeton has applied for a spot Bitcoin ETF

On September 12th, Eric Balchunas, senior ETF analyst at Bloomberg, announced that asset management giant Franklin Templeton has applied for a spot Bitcoin ETF. The company manages nearly $1.5 trillion in assets and revealed in a filing submitted on Tuesday that it plans to list such funds on the Cboe BZX trading platform. The ETF's shares will be backed by Bitcoin held by Coinbase Custody Trust Company, the fund's custodian.



A man forged virtual currency to defraud 700,000 people of 160 million yuan and was sentenced to 13 years and 6 months in prison

On September 13th, according to Litchi News, the People's Procuratorate of Huqiu District, Suzhou, recently handled a virtual currency fraud case, with more than 700,000 victims nationwide and involved amounting to as much as 160 million yuan. After deducting the cost of accompanying goods, recommended cashback, and other fees of more than 97 million yuan, the suspect, Mr. Fang, actually profited about 69 million yuan. It is reported that the name of the fraudulent project is "Global Coin", which falsely claimed that the virtual currency was launched by a Hong Kong group using the latest blockchain technology and could be exchanged for RMB at a certain ratio once it was listed. Among them, the "membership system" is the "winning weapon", and only by becoming a higher-level member can one have more global coins and larger production capacity of mining machines to produce global coins. At the same time, members can develop downlines to earn rebates.


This week's popular articles


At TOKEN2049 in Singapore, what did we all "see"?

The annual Web3 event Token2049 has come to a close. This year, there were thousands of attendees, and many participants said it was more lively than in previous years, with new improvements in the quality of the activities. The SideEvents of this conference included Demo Day, hackathons, industry conferences, City Walk, private dinners, and more. The two peripheral events held by BlockBeats were also highly praised. So, what new opportunities emerged from this Token2049 conference? What new insights did the participants gain? Let's take a look at this year's post-conference "essay". If you have any insights or gains to share, please contact us: @BlockBeatsAsia



Arthur Hayes Singapore Token2049 Speech Full Text: The Next Bull Market Will Start in Early 2024

In this speech, I will discuss debt and AI from a macro perspective, and then narrow it down to a micro perspective, briefly introducing why I am very fond of Filecoin. Once again, I remind everyone that this is my broad framework for the value of cryptocurrency, namely the liquidity of fiat currency and certain technologies in the ecosystem. In the past decade, one of these two factors has always been the reason for us to start a bull market, but we have not yet encountered a bull market where both of these aspects appear at the same time.



Exclusive Interview with MetaMask: How will Snaps Subvert the Ecological Interaction of MetaMask?

On September 12th, Consensys announced the first version of MetaMask Snaps to the public. According to the official website, MetaMask Snaps is a feature created by third-party developers that MetaMask users can install directly into their wallets. BlockBeats conducted an exclusive interview with Francesco Andreoli, the developer relations maintainer of MetaMask, to explore how the latest release of Snaps can promote permissionless innovation and interoperability between different ecosystems.



Interview with Yuga Labs: We are more like Tencent of Web3, continuously changing the rules of NFT games

As a leader in the NFT industry, Yuga Labs' incubated NFT brand firmly occupies the blue chip rankings. Over the past year, Yuga Labs has launched Dookey Dash and Bitcoin NFT series TwelveFold, but these new narrative gameplay only attracted players' brief attention and liquidity. During the TOKEN2049 conference in Singapore, BlockBeats' frontline reporter interviewed Yuga Labs CEO Daniel Alegre exclusively, delving into topics such as NFT narrative and Yuga Labs' ecological layout.



BlockBeats reporter interviewed Pudgy Penguins' current CEO Luca Netz exclusively at TOKEN2049 in Singapore, exploring the story behind the "fat penguins" selling out on Amazon.



Interview with MakerDAO: Solana is not our only choice

On September 1st, MakerDAO founder Rune Christensen published an article titled "Exploring the Branch of Solana Codebase for NewChain", which caused a sensation. Ethereum founder Vitalik sold 500 MKR worth about $581,000 the next day and exchanged it for 350 ETH, sparking rumors about MakerDAO "leaving Ethereum" and "offending Vitalik". The crypto community has various speculations about the future direction of MakerDAO. During the TOKEN2049 conference in Singapore, BlockBeats exclusively interviewed MakerDAO founder Rune Christensen, and we can explore some of the stories behind MakerDAO's governance and public chain disputes.



与 Paradigm 反目,Reflexer 选择独自前行
Translation:

Reflexer chooses to go alone after falling out with Paradigm

Paradigm, the investment firm that best represents the encryption industry, has been "mocked" by a project in its own investment portfolio. As the recognized top venture capital (VC) fund in the encryption industry, Paradigm may also be the top native encryption fund. Its two founders have backgrounds in Coinbase and Sequoia Capital. The two famous people have different approaches. Leading projects such as Uniswap and Blur have caused collective anxiety among VC investors in the encryption industry: investment not only needs to provide capital, but also needs to provide strong help for project mechanisms and token economics.



TipCoin releases economic model, how many tokens can your points be exchanged for?

Following the wave caused by friend.tech, a new project called TipCoin, which combines with X (formerly Twitter), has recently attracted attention to the social field in the Web3 world. Thanks to the participation of a group of KOLs in the currency circle, TipCoin has attracted about 100,000 users to participate in tweet publishing and commenting within four days since its official launch on September 1, sweeping across the Twitter platform like a virus. Why has TipCoin attracted so much attention in a short period of time? How can TipCoin users participate in this Web3 social feast? Can TipCoin survive in the fiercely competitive social field?



融资 5400 万美元,链上 IP 基础设施 Story Protocol 能解决什么问题?
Translation:

Raised $54 million, what problems can Story Protocol, a blockchain-based IP infrastructure, solve?
In the bear market, completing two rounds of financing of such a large scale consecutively is indeed rare. 'On-chain IP infrastructure' happens to be the author of this article.



ABCDE: Why do we invest in Gravity?

GRVT (Gravity) is a hybrid on-chain trading platform - Hybrid Exchange (Hex), which combines the user experience of Cex with the fund security of Dex. Gravity will become the leading derivative trading protocol on zkSync, alongside gmx on Arbitrum and Dydx, which originated from Starkex. It will be launched on the testnet in Q4.



ABCDE: Why We Invest in GasZero

GasZero is a 2-layer blockchain network with no gas fees, allowing trusted users to transfer and use on-chain applications without any gas fees. GasZero's vision is to bring one billion users to web3 and enjoy zero gas fees and frictionless interaction. In Web2's deployment test, GasZero greatly improved the conversion rate of users onboard to Web3, increasing the conversion efficiency by 146 times compared to blockchain with gas fees. ABCDE led the angel round investment in GasZero.



Folius Ventures: Friend.Tech's Explosive Logic and Future Evolutionary Trends
This article introduces the development history of Friend.Tech, its point system and airdrop expectations, early explosive income and subsequent income issues, as well as potential risks it may face in the future.



Bloomberg: How did SBF's elite parents help him build a crypto empire?

Long before their son was accused of fraud, both parents had outstanding careers. They met at Stanford University in the 1980s and taught at the law school for more than 30 years, living on campus and raising two sons. Joseph Bankman is a tax expert known for his dedication to making US tax law more friendly to low-income citizens. Barbara Fried is an authority on legal ethics and is highly respected in progressive political circles.



#TOKEN2049#zkSync#Huobi#CoinEx
2023-09-17 12:39

BlockBeats will compile industry news highlights for the week of 7.24-7.30 in this article, and recommend in-depth articles to help readers better understand the market and stay informed of industry trends.


This Week's Important News Review


Worldcoin Announces Token Economics, 75% Allocated to Worldcoin Community

On July 24th, according to the official white paper, the initial supply limit of governance token WLD of Worldcoin is 10 billion, of which 75% is allocated to the Worldcoin community. Most of the tokens will be distributed to users, and some will be allocated to the ecological fund and network operation. 9.8% is allocated to the initial development team, 13.5% is allocated to Tools for Humanity investors, and the remaining 1.7% will be reserved for Tools for Humanity. In addition, the maximum circulating supply of WLD at launch is 143 million. Among them, 43 million WLD will be distributed to users who have been verified through Orb during the pre-launch phase of the project, and 100 million WLD will be loaned to market makers outside the United States. In addition, many exchanges such as Binance, Okx, Bybit, Huobi, and Bitget have launched Worldcoin (WLD) on July 24th. Related reading: "Worldcoin Controversy: Evil Product or Utopia into Reality?", "Detailed Explanation of Worldcoin White Paper: How WLD Tokens are Allocated and Released?", "Worldcoin, Hard to Talk About Fairness?"



zkSync ecosystem lending protocol EraLend may have been attacked and lending has been suspended

On July 25th, according to multiple user reports, the zkSync ecosystem lending protocol EraLend may have been subjected to price manipulation attacks, resulting in the liquidation of some users' loans. Some users suspect that the attacker may have used flash loans to manipulate the price of the liquidity pool (LP), triggering the liquidation. EraLend has temporarily suspended lending services. On July 26th, EraLend officially released a hacker event review, stating that the attacker obtained approximately $2.76 million from the USDC pool by manipulating the price of the oracle, and other fund pools are still safe and unaffected.



Flashbots Completes $60 Million Funding Round at $1 Billion Valuation

On July 25th, Ethereum infrastructure service Flashbots completed a $60 million Series B funding round at a $1 billion valuation. The funds will be used to develop the Suave platform, which allows users to "trade more cheaply and privately on the blockchain."



Binance Launches First Digital USD (FDUSD)

Binance has announced the launch of a new stablecoin, First Digital USD (FDUSD), and opened trading for a new spot trading pair. According to information on the FDUSD website, FDUSD (First Digital USD) is a stablecoin issued by FD121 Limited that is pegged 1:1 to the US dollar. It is a programmable stablecoin that can execute financial contracts, custody services, and insurance without intermediaries. It is supported by high-quality reserves (cash and cash equivalents), and its reserve accounts are audited by independent third parties such as Prescient Assurance. FDUSD can be used on Ethereum and BNB Chain, and plans to support more blockchains in the future. Related reading: "What is the background of Binance's new stablecoin FDUSD?"



Sui Foundation announces termination of cooperation with MovEx

On July 27th, Sui's ecological DEX MovEx, which had received a grant of 2.5 million SUI from the Sui Foundation for the development of DeepBook, was found to have transferred 625,000 SUI to three wallets through three transactions, violating the token lock-up agreement. MovEx did not inform the Sui Foundation of these three transactions that violated the contract lock-up, nor did the Sui Foundation agree to them. At the request of the Sui Foundation, MovEx has transferred all 2.5 million SUI to a third-party custodial wallet to enforce the contract lock-up restrictions. Based on this, the Sui Foundation has terminated its cooperation with MovEx. MovEx will not receive any more SUI and will no longer be the main developer of DeepBook.



OPNX Launches Second Launchpad Project: Gameplan, a Metaverse Platform for Sports

On July 26th, OPNX, a cryptocurrency claims and trading platform, will launch its second Launchpad project: Gameplan, a metaverse platform for sports founded by UFC champion Khabib Nurmagomedov and Magomed Kurbaitaev. The project aims to provide sports fans with a one-stop platform for activities, games, shopping, and interacting with their sports idols. Gameplan is led by Three Arrows Capital and OX token holders can receive a portion of Gameplan platform tokens, GPLAN.



BitForest assists police in capturing "KTV steals private key" criminal gang

On July 27th, according to official sources, the first case of digital asset theft using "KTV steals private key" was successfully cracked with the assistance of the security company BitForest. It is reported that the suspect deceived the victim into going to KTV for trading under the guise of buying USDT. In the KTV room, the suspect used games and other means to make the victim's phone out of control, thus obtaining the private key. After obtaining the private key, the suspect induced the victim to transfer the assets to a designated address under the pretext of completing the transaction, and then quickly transferred the assets. The criminal gang has committed two crimes and has turned the stolen assets into cash to buy million-dollar luxury cars. The police arrested the entire criminal gang on July 26, 2023.


This Week's Popular Articles


"From Losing Hope to Amazon's Bestseller, What Did the 'Fat Penguin' Brand Do Right?"

Unknowingly, "Pudgy Penguins" has risen to the 8th place in the market value ranking of head PFP. The current market value has doubled compared to the low point in December last year. In this year, the market value of Pudge Penguins has surpassed old blue chips such as BAKC, Doodles, Clone X, and Meebits. Currently, Azuki, which is ranked ahead, has not yet emerged from the difficulties brought by Azuki Elemetals, and its market value is still in a downward trend. It is not impossible for Pudgy Penguins to go further.



"Bybit payroll manager accused of abusing power to secretly transfer USDT and facing lawsuit, interpretation of Singapore court judgment"

Cryptocurrency exchange Bybit sued Ms. Ho, who is responsible for paying salaries within the company, for abusing her power and transferring a large amount of USDT to an address secretly owned and controlled by her. The Singapore High Court upheld the ruling on July 25th, stating that cryptocurrency is generally recognized as property, and holders of cryptocurrency have intangible property rights recognized by common law. As an item in the lawsuit, it can be enforced in court. The court ruled that Ms. Ho must immediately pay all transferred funds and interest to Bybit.



"Worldcoin Controversy: Evil Product or Utopia into Reality?"

Worldcoin, a cryptocurrency company founded by OpenAI CEO Sam Altman, announced the launch of its WLD token. Worldcoin focuses on helping people verify their credentials through iris scanning and proving their identity online. According to data, approximately 2 million people have completed iris verification so far, and WLD will be distributed to these users. Cryptocurrency KOLs have expressed their opinions on controversial topics such as the vision of Worldcoin, token issuance, and privacy leaks. BlockBeats has compiled this information.



"Detailed Explanation of Worldcoin Whitepaper: How are WLD Tokens Distributed and Released?"

Worldcoin (WLD) is an ERC-20 token on the Ethereum mainnet. Individuals can receive user grants on the Optimism mainnet. The initial supply limit for Worldcoin is 10 billion tokens (enforced by the WLD smart contract) within 15 years of the token's launch. After 15 years, users can decide through governance whether to activate inflation mode, with a maximum annual inflation rate of 1.5%. The maximum circulating supply at launch will be 143 million WLD, with 43 million WLD allocated to users who verified using Orb during the project's Pre-Launch phase, and 100 million WLD loaned to market makers operating outside the United States (with the loan due after 3 months).



"Vitalik In-Depth Analysis: The Impact and Prospects of Worldcoin and Personhood Proof"

On July 25th, WorldCoin, a Web3 encryption project co-founded by OpenAI founder Sam Altman, was officially launched. The team has designed a biometric identity verification system called World ID. On the same day, Ethereum founder Vitalik Buterin published an article explaining his views on biometric proof.



"I help Chinese people do Worldcoin KYC in Africa and earn 20,000 yuan per day"

This article is about a middleman who works as a Worldcoin KYC agent in Africa, and he shares his experience of doing KYC for the past few years. The product that users see on Xianyu, which claims to have completed Worldcoin KYC, is actually provided by third parties like Zhao Zhao in Africa. However, business is not good now that Worldcoin has officially launched and the coin price has become transparent, leaving no gray area. In addition, due to the unstable political situation in a certain country in East Africa, the business of doing KYC has been suspended for more than three months. At its peak, in a location where iris verification was possible, one could earn up to 20,000 yuan a day. However, the most profitable days only lasted for two weeks, which was in May when Worldcoin was most popular in China. At that time, the growth of new local users exceeded expectations, and soon the operators discovered something fishy.



"What is the background of Binance's newly launched FDUSD stablecoin?"

Binance announced in a statement that it will launch a new stablecoin, First Digital USD (FDUSD), on July 26 at 16:00. The stablecoin will be available for trading with new spot trading pairs. Stablecoins are an important asset type in the crypto industry and have been making headlines this year. Binance's own stablecoin, BUSD, has been regulated, USDC has been abandoned, and TUSD has often been embroiled in controversy. What is FDUSD all about?



"Binance Research: Overview of the RWA Ecosystem"

1. The tokenization of real-world assets (RWAs) continues to gain traction as user adoption rates increase and large institutions enter the market.

2. Combined with the relatively low DeFi yield, the continuously rising interest rates have prompted people's interest in tokenized national debt.

4. It is expected that by 2030, the market size of tokenized assets will reach 16 trillion US dollars, with significant growth potential, far exceeding the 310 billion US dollars in 2022.

5. Many protocols have integrated RWAs or participated in their growth. This article briefly introduces MakerDAO, Maple Finance, and Ondo Finance, among others.



"CZ Resends Old Article from 6 Years Ago: Disliking Large ICO Projects, Obtaining Large Amounts of Funds at Once May Not Be Correct"

On July 24th, Binance founder CZ tweeted a long article he wrote 6 years ago, mentioning large-scale ICOs. He mentioned a project that aimed to raise $100 million through ICOs, but now has a market value of less than $1 million. CZ explained in detail that raising a large amount of money through overvalued financing at the beginning of a cryptocurrency project is not a good thing in the long run. Binance also does not like such projects, and CZ's thoughts on Binance's coin selection can be seen from the article.



《世界币,难谈公平?》
translates to:

"World Coin, Hard to Talk About Fairness?"

Unlike Sam Altman's other product ChatGPT, Worldcoin is truly difficult to get started with due to its "no admission" policy. Moreover, with Sam's shift from UBI to a preference for Proof of Personhood (PROOF OF PERSONHOOD), it may take some time to see Worldcoin's AI-driven UBI have a significant impact on the physical world like ChatGPT. Despite Worldcoin's frequent participation in various crypto conferences and integration with many mainstream protocols, it did not receive much attention from the crypto community on the first day of token listing - although this is currently its main supporter.



《ETHCC 小作文梳理:Crypto 整体向好,Infra 层正迎来夏天》
Translation:

"ETHCC Summary: Crypto is improving overall, and the infrastructure layer is welcoming summer"

This article collects the on-site review experiences of multiple practitioners in the encryption industry, including Mippo from Blockworks, David Hoffman from Bankless, and davidev.eth, the Vice President of Product at Polygon Labs. By summarizing the activities of this year's ETHCC in Paris, even encrypted users who did not attend the event can experience the optimistic mood of the surging undercurrents in the bear market. According to the on-site experiences of multiple participants in the encryption industry, ETHCC presented an overall optimistic mood of "improvement".



《LSDfi 后,Logarithm 和 LPDfi 会掀起下波 DeFi 叙事吗》
Translation:

"After LSDfi, will Logarithm and LPDfi trigger the next wave of DeFi narrative?"

LSDfi's explosive popularity, in addition to catching up with Ethereum's upgrade, is more about solving the practical problem of encrypted user income, making it an important part of the DeFi narrative. Today, we will explain in detail a new narrative - LPDfi (Liquidity Providing Derivatives - liquidity providing derivatives), this article will mainly introduce the existing problem of poor liquidity in the DeFi field and what practical problems LPDfi's appearance has solved. Can it become the next major narrative of DeFi?



"Dialogue with Uniswap Founder: The Rise of UniswapX and the Future of Decentralized Markets"

On July 17th, Uniswapx launched a mainnet test version, which is only an early version and is only open to some tokens and transactions. During the trial, you will see new features such as no gas fees, signature instead of transaction, etc. This is a gradual release process. There are still many issues to consider, such as parameterization, and it will take some time to start integrating cross-chain, etc. This article interviewed Hayden Adams, the founder of Uniswap, to gain a deeper understanding of how Uniswap changes MEV attacks and how UniswapX operates.



Welcome to join the official community of BlockBeats by LuDong

Telegram subscription group: https://t.me/theblockbeats

Telegram communication group: https://t.me/theblockbeatsApp

Twitter official account: https://twitter.com/BlockBeatsAsia


#Worldcoin#Flashbots#The currency
2023-07-30 11:46
See More
Recommended Libraries
Total 10 Articles
Created on2023-08-03
收藏
Total 7 Articles
Created on2023-05-24
收藏
Total 9 Articles
Created on2023-05-21
收藏
Edit Library
Visible to myself only
Public
删除 Delete
Save