This week’s review｜New testimony in SBF trial exposed; founder of SSV Network drafted into the army

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

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