Selected News:

1. Proof of Play has completed a $33 million seed round of financing, led by a16z and Greenoaks.

2. Binance Labs announced the 6th season incubation program with 12 projects covering DeFi, infrastructure, and other fields.

3. FTX reminds customers to submit claims in a timely manner, with September 29, 2023 as the deadline.

4. Linear Finance: Attack leads to depletion of LUSD liquidity, token minting, burning, or trading has been temporarily suspended;

5. CZ responds to Binance's delisting of European stablecoins: There are partners who have launched Euro and other stablecoins in full compliance.

6. ETH/BTC exchange rate falls to the lowest point in nearly 14 months.

Project Updates

Binance French legal director: plans to delist all stablecoins in Europe by June 30, 2024

According to CoinDesk, the EU's crypto law MiCA will come into effect next year, establishing a framework for stablecoins within the EU. A Binance executive warned on Thursday that the new EU regulations, which will take effect in a few months, could mean a large-scale delisting of stablecoins, and lawyers are trying to interpret the impact of MiCA regulation on the EU crypto asset market. Marina Parthuisot, Binance's head of legal in France, said at an online public hearing hosted by the EBA that "since no project has been approved yet, we plan to delist all stablecoins in Europe on June 30." "This could have a significant impact on the European market compared to other regions of the world."

CZ responds to Binance's delisting of European stablecoins: partners have launched Euro and other stablecoins in full compliance

Binance founder CZ responded to CoinDesk's article "Lawyers are confused about EU MiCA, Binance warns that multiple stablecoins will be delisted", stating that this is a problem of taking things out of context. "In fact, we have several partners who have launched the euro and other stablecoins, of course in a fully compliant manner." Earlier, according to CoinDesk, Marina Parthuisot, Binance's French legal director, said at an online public hearing hosted by EBA that "since no project has been approved, we plan to delist all stablecoins in Europe on June 30." "Compared with other regions of the world, this may have a significant impact on the European market."

Chainlink CCIP is now live on Arbitrum One.

The Chainlink Cross-Chain Interoperability Protocol (CCIP) is now live on Arbitrum One. Chainlink CCIP provides Web3 builders with a single interface to create native cross-chain applications. CCIP unlocks new use cases for DeFi, NFTs, gaming, identity, and other Web3 verticals. CCIP prioritizes security with features such as risk management networks to monitor malicious activity. Importantly, CCIP is built on the same battle-tested infrastructure as other Chainlink services, such as industry-standard data sources.

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

According to an official announcement, Binance Labs has 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 after rigorous application review. The two-month comprehensive course aims to provide founders with resources and one-on-one guidance throughout the entire Binance ecosystem.

Singapore bank strengthens checks on Chinese customers holding "investment-related" passports

According to the Singapore Business Times, Singapore banks are strengthening their scrutiny of customers born in China but holding other nationalities, following a crackdown on money laundering activities worth over SGD 2.4 billion last month. Sources say that some banks have been reviewing transactions of Chinese customers with newly opened accounts and investment-related passports. At least one international bank is closing accounts of customers holding citizenships from countries such as Cambodia, Cyprus, Turkey, and Vanuatu. Other banks in Singapore have started evaluating whether to accept new funds from similar background customers based on case-by-case assessments, which may take longer.

Tim Draper launches new crypto venture studio Draper Goren Blockchain

According to Decrypt, venture capitalist Tim Draper, who has previously invested in Coinbase, Ledger, and Tezos, has launched a cryptocurrency-focused venture studio called Draper Goren Blockchain (DGB). The studio aims to accelerate the development of decentralized finance (DeFi) innovations, network scaling solutions, and consumer applications such as gaming and social experiences to address the ongoing bear market. The founding partners of this venture studio, Alon Goren and David Bleznak, have previously invested in Draper's Web3 investment platform, Draper Round Table, and are board members of social analytics platform LunarCrush and digital securities institutional network Ownera.

FTX reminds customers to submit claims in a timely manner, with September 29, 2023 as the deadline.

The encrypted trading platform FTX reminds its customers that the deadline for submitting customer claims is 4:00 p.m. Eastern Time on September 29, 2023. Users are advised to log in to the customer claims portal website to start the claims process. FTX requires customers to provide KYC information during the claims process, and the KYC verification process will continue after the deadline. In addition, for accounts that were frozen due to network security incidents before, FTX sent separate notifications on September 17, 2023.

Bloomberg: Since the beginning of the year, hedge funds such as Silver Point have purchased FTX debt worth more than $250 million

According to Bloomberg's analysis of court records, hedge funds such as Silver Point Capital, Diameter Capital Partners, and Attestor Capital have purchased FTX debt worth over $250 million since the beginning of this year. Court documents show that asset management firm Hudson Bay Capital Management recently purchased $23 million worth of FTX debt from a cookie distributor and later sold about half of it to Diameter. Data from bond broker Claims Market shows that in recent weeks, some lower-tier FTX debt has been quoted at around 35% of face value, up from 12% at the beginning of the year.

Linear Finance: Attack leads to depletion of LUSD liquidity, token minting, burning, or trading temporarily suspended

DeFi synthetic asset protocol Linear Finance announced that it was attacked on September 21, resulting in all LUSD liquidity on PancakeSwap and Ascendex being emptied and the LUSD price dropping to zero. The attacker minted unlimited LAAVE and traded it for LUSD on Linear Exchange, then sold it on PancakeSwap and Ascendex. To protect the protocol, assets, and users, the Linear team has taken the following measures: suspending all protocol contracts that allow token minting, burning, or trading; disabling the Linear bridge contract for LUSD; hiring a leading industry team to track down the attacker and bring them to justice; and sharing wallets known to be involved in the attack with all major trading platforms and authorities.

Data

Data: Ethereum has approximately $65.73 million in on-chain loan settlement near $1448

According to DefiLlama data, there is approximately $65.73 million in on-chain loan liquidation volume for Ethereum around $1448.

DWF Labs receives 1.8 billion LEVER from LeverFi reserve wallet

According to Lookonchain's monitoring, the wallet address marked as "LeverFi: Farming Reserves" on the chain received 1.8 billion LEVER, equivalent to approximately 2.85 million US dollars. LEVER briefly surged to 0.0017 USD before falling back, and is currently trading at 0.001660 USD, with a 24-hour increase of 11.26%.

DWF Labs transferred 1.8 billion LEVER to Binance

According to @EmberCN's monitoring, DWF Labs transferred 1.8 billion LEVER (approximately $3.1 million) to Binance 10 minutes ago. Earlier today, the DWF Labs address received 1.8 billion LEVER, which was marked as "LeverFi: Farming Reserves" on the chain, at a price of approximately $2.85 million.

ETH/BTC exchange rate falls to the lowest point in nearly 14 months

According to market data, the ETH/BTC exchange rate fell to 0.05940 at 21:34 on September 21, reaching its lowest point in nearly 14 months. As of the time of writing, the ETH/BTC exchange rate has rebounded to 0.05964, with a 24-hour decline of 0.48%.

Yesterday's total trading volume in the cryptocurrency market was $66.718 billion, with a daily increase of 80.15%.

According to CoinGecko data, the total trading volume of the global cryptocurrency market on September 21 was 66.718 billion US dollars, an increase of approximately 80.15% compared to September 20's 37.034 billion US dollars.

Funding

Web3 social application Orb completes $2.3 million financing, with participation from Aave founder and others

Web3 social application Orb based on Lens Protocol has completed a $2.3 million financing round. The round was participated by ArkStream Capital, Superscrypt, Founders, Inc., Foresight Ventures, Aave Companies, Aave Companies, Lens Protocol founder Stani Kulechov, and Polygon co-founder Sandeep Nailwal. Orb co-founder Kimmo Siren stated that there was no major investor in this round of financing and added that it was an equity financing round that started in March and ended in May. He declined to comment on the valuation. Orb is a community-centered Web3 social application with chat and community functions. The chat function allows users to contact and communicate with friends, while the community function allows users to join groups of like-minded people.

Proof of Play has completed a $33 million seed round of financing, led by a16z and Greenoaks.

The chain game start-up company Proof of Play has completed a $33 million seed round of financing, which was jointly led by a16z and Greenoaks. In addition to Ravikant, who early invested in Uber and Twitter, other participants in this round of financing include Balaji Srinivasan, Twitch founder Justin Kan and Emmett Shear, as well as Mercury, Firebase, Zynga and Alchemy. Proof of Play, founded by Mahajan, aims to create fun and easy-to-use blockchain games. Its first game is a social role-playing game called "Pirate Nation".

A startup company in the encryption industry, Mesh, has completed a $22 million Series A financing round, led by Money Forward.

According to TechCrunch, Mesh (formerly known as Front Finance), a startup company that provides encrypted transfer and payment services, has completed a $22 million Series A financing round. The investment was led by Money Forward, with participation from Galaxy, Samsung Next, Streamlined Ventures, SNR.VC, Hike VC, Heitner Group, Valon Capital, Florida Funders, Altair Capital, Network VC, and several angel investors.

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