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Daily Legal News | Tether will fully implement its new global strategy by 2024; Due to the failure of the Holesky testnet launch, the activation of the Dencun mainnet may not take place this year.

2023-09-22 19:51
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Selected News:

1. Arbitrum: All unclaimed ARB airdrop tokens will be sent to the DAO treasury in approximately 2 days.

2. Tether CTO: Tether's new global strategy will be fully implemented in 2024;

3. Nansen: A third-party supplier was attacked, resulting in the leakage of some user data. Affected users have been notified by email to reset their passwords.

4. JPMorgan: The upgrade of Ethereum in Shanghai did not promote network activity as expected.

5. Due to the failure of the Holesky testnet launch, the activation of the Dencun mainnet may or may not take place this year.


Project Updates


Arbitrum: All unclaimed ARB airdrop tokens will be sent to the DAO treasury in about 2 days

Arbitrum officials posted on social media that all unclaimed ARB airdrop tokens will be sent to the DAO treasury at Ethereum network block height 18208000 (approximately 2 days and 10 hours from now), and detailed information will be released soon.


Bitcoin Layer2 network Stacks releases sBTC developer version introduction, expected to be delivered in mid-to-late October

Bitcoin Layer2 network Stacks released an official blog introducing the sBTC developer version. It is reported that the Stacks ecosystem is preparing for the sBTC developer version, allowing selected developers to build and test early versions of sBTC (BTC version supported 1:1 on the Stacks layer). The sBTC testnet will allow users to begin testing the deposit and withdrawal process of sBTC, and developers in the Bitcoin L2 ecosystem can begin integrating these deposit and withdrawal processes into their applications using simple APIs and wallets such as Leather and Xverse. According to current estimates, the sBTC working group is expected to deliver the developer version during the week of October 18. In light of this release, applications for the incentive testnet plan are currently open.


Bitmain agrees to invest $53.9 million in Core Scientific to expand their partnership

According to businesswire, Bitcoin mining company Core Scientific has announced that Bitmain has agreed to invest $53.9 million in the company to expand the long-term partnership between the two companies. Bitmain and Core Scientific have agreed to provide funding for the purchase of new and more efficient Bitcoin mining equipment through a combination of equity and cash. In addition, Bitmain has also signed a new hosting agreement with Core Scientific to support its mining operations.


According to the official announcement, Binance will launch FRONT 1-10x U perpetual contract on September 22 at 22:30.


JPMorgan: Shanghai upgrade on Ethereum did not boost network activity as expected

JPMorgan pointed out in a research report that the Ethereum Shanghai upgrade implemented in April did not promote network activity as expected. The report stated that since the Shanghai upgrade, Ethereum's daily transaction volume has decreased by 12%, daily active addresses have decreased by nearly 20%, and the total locked value (TVL) of DeFi protocols has decreased by nearly 8%.


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

Galaxy Research Vice President Christine Kim summarized the 118th Ethereum Core Developer Consensus Meeting (ACDC), which mainly discussed the preparation work of Devnet-9 and changes to the Ethereum Consensus Layer (CL). Ethereum Core Developer Tim Beiko questioned the Dencun test schedule at this meeting because 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 failed to launch and will be restarted on September 28. Therefore, Tim Beiko stated that if developers cannot ensure the release of Dencun on a public testnet before the Ethereum Developer Conference Devconnect in November 2023, the mainnet activation of Dencun is unlikely to take place this year.


Nansen: Third-party supplier attacked resulting in partial user data leakage, affected users have been notified by email to reset their passwords

Nansen announced on its social media platform that some Nansen user data was leaked due to a vulnerability in a third-party supplier that was attacked. According to preliminary investigations, 6.8% of Nansen users were affected. The leaked information includes email addresses of these users, and a small portion of users' password hashes were also leaked. In addition, some groups' blockchain addresses were also leaked. As a security precaution, Nansen has requested affected users to reset their passwords through support@nansen.ai between 5 pm and 9 pm (UTC time) on September 21.


FTX sues former employee of Hong Kong affiliate to recover about $157 million

According to a court filing submitted on Thursday evening, FTX has sued former employees of Salameda to recover approximately $157.3 million. Salameda is a Hong Kong-registered entity belonging to FTX and reportedly controlled by SBF. The filing states that Michael Burgess, Matthew Burgess, their mother Lesley Burgess, Kevin Nguyen, Darren Wong, and two companies owned or controlled several companies with registered accounts on FTX.com and FTX US, and fraudulently withdrew assets in the days leading up to FTX's bankruptcy.


Algorand Ventures announced a strategic investment in Onramp.money to support its global Web3 ecosystem.

The Algorand Foundation announced on its official website that Algorand Ventures has strategically invested in Onramp.money to support its global Web3 ecosystem. The announcement stated that Onramp.money is a provider of deposit and withdrawal solutions in India, and has recently expanded its services to multiple jurisdictions around the world, including Vietnam, the United Arab Emirates, Turkey, and Mexico. The platform's trading volume and user engagement have been steadily increasing by an average of 100-200% per month.


AltLayer has launched a new Rollup framework Turbo, aiming to build a scalable, low-latency, and seamless immersive interactive experience.

According to official sources, AltLayer, an Ethereum scaling project, has announced the launch of a new rollup framework called Turbo. This framework is an optimized rollup stack designed to help the ecosystem build scalable, low-latency, and seamless immersive interactive experiences.


Tether Chief Technology Officer: Will fully implement Tether's new global strategy by 2024

Tether's Chief Technology Officer, Paolo Ardoino, announced on his social media platform that Tether's new global strategy will be fully implemented by 2024. According to his hints, the new global strategy may include investment cooperation, AI, new energy Bitcoin mining, education, and global business expansion.



Data


A certain whale deposited 309.88 MKR into Binance before the market downturn.

According to Spot On Chain monitoring, the whale address starting with 0xe86 deposited 309.88 MKR (approximately $418,000) into Binance at an average price of $1348 during the 19-hour market decline. This address had previously acquired these MKR from Binance at an average price of $645.13 (approximately $200,000) in June. If the address had indeed bought and sold these tokens, it would have made a profit of $218,000 in just 3.5 months, with a return rate of 109%. In addition, Spot On Chain also detected that three other addresses collectively sold 660.32 MKR in the past 8 hours, receiving a total of $866,000 in ETH and stablecoins.


A certain whale withdrew 1.15 million ARB from Binance again in the past 2 days.

According to Lookonchain monitoring, a whale has once again withdrawn 1.15 million ARB (approximately $952,000) from Binance in the past 2 days. The whale went long on ARB on Aave on July 23rd, and had to sell ARB at a loss on September 11th to repay the debt as ARB prices fell. The whale previously withdrew 17.53 million ARB (approximately $20.87 million) from Binance at an average price of $1.19, and deposited 11.13 million ARB (approximately $10.17 million) back into Binance at an average price of $0.91, resulting in a loss of over $3 million. The whale currently holds 7.55 million ARB (approximately $6.25 million).


MakerDAO once again adds $50 million RWA assets through BlockTower Andromeda

According to Makerburn data, MakerDAO has once again added $50 million of RWA assets through BlockTower Andromeda, mainly investing in short-term US Treasury bonds with an annualized interest rate of 4.5%. In addition, the total RWA assets of the protocol currently reach $2.958 billion.


A value of $590 million BTC and $230 million ETH options contracts will expire and settle today.

According to Greeks.live data, 22,000 BTC options are set to expire today with a put/call ratio of 1.00 and a maximum pain point of $26,500, representing a nominal value of $590 million. Additionally, 147,000 ETH options are set to expire today with a put/call ratio of 0.94 and a maximum pain point of $1,600, representing a nominal value of $230 million. Greeks.live indicates that the put/call ratio has significantly increased this week, with more investors actively buying put options in response to the recent market liquidity deterioration.


friend.tech "Keys" price ranking: founder Racer Key ranks first with 6.4ETH

friend.tech "Keys" price ranking latest data shows: · Platform founder Racer ranks first with 6,400 ETH; · Cryptocurrency KOL Vombatus ranks second with 6,045 ETH; · Cryptocurrency KOL Hsaka ranks third with 4,193 ETH; · Cryptocurrency KOL Levi ranks fourth with 3,813 ETH; · NDV co-founder Christian2022.mid ranks fifth with 3,600 ETH.


Brevan Howard Digital recently deposited 1.5 million LDO into Coinbase Prime

According to Spot on Chain data, Brevan Howard Digital recently deposited 1.5 million LDO tokens into Coinbase Prime, worth approximately $2.28 million.


Stake.com wallet address once again transferred 12,500 ETH to Binance.

According to Scopescan, the Stake.com wallet address transferred 12,500 ETH (approximately $20.3 million) to Binance one hour ago. Previously, on September 18th, the same wallet address transferred 10,000 ETH (approximately $16.3 million) to Binance.


Over 80 addresses created a week ago have withdrawn a total of 4.7 million LINK from Binance

According to Lookonchain's monitoring, since September 18th, a total of 81 addresses created on the 15th of the month have withdrawn 4.7 million LINK tokens (worth approximately 31.58 million US dollars) from Binance.


There are still 70.6 million ARB airdrop tokens that have not been claimed, accounting for 6% of the total airdrop amount.

According to Scopescan, there are still 42,540 addresses that have not claimed the airdrop, which is equivalent to 70.60 million ARB (valued at approximately $58.40 million) or about 6% of the total airdrop. Among these unclaimed addresses, the largest identified entity controls 635 addresses and is eligible to apply for 1,224,875 ARB. This entity may be an airdrop hunter. Previously, Arbitrum officials posted on social media that all unclaimed ARB airdrop tokens will be sent to the DAO treasury after Ethereum network block height 18208000.


Vitalik transferred 200 ETH to the address starting with 0x3f, which he previously used to sell ETH.According to Scopescan, Vitalik Buterin transferred 200 ETH to an address starting with 0x3f one hour ago. Three weeks ago, Vitalik transferred 350 ETH to the same address and then sold them.


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