headlines
Israeli law enforcement has ordered the freezing of multiple cryptocurrency accounts and the seizure of millions of dollars worth of cryptocurrencies in an effort to stem the flow of funds from Hamas. More than 100 accounts on the Binance platform have been closed since Hamas launched its attack on Oct. 7, people familiar with the matter said. Authorities also requested information on up to 200 other crypto accounts, most of them on the Binance platform. Binance confirmed that it had banned a small number of accounts since the summer, adding that it follows internationally recognized sanctions rules. The company declined further comment.
In response to reports that the director of the South Korean Financial Supervisory Service said that he would examine whether the Sui team is manipulating the token supply, the Sui Foundation denied these accusations on the X platform. The Sui Foundation stated that it has been and will continue to cooperate with DAXA and its member exchanges in a spirit of full compliance and transparency. The claims of “manipulation of the SUI token supply” are baseless and grossly untrue. After the initial Community Access Program (CAP) distribution, the Foundation never sold any SUI tokens. The circulation supply schedule displayed on the Sui Foundation public website is accurate. In addition to this, the Sui Foundation has never liquidated any Sui tokens, including staking rewards. Every token transfer of the Sui Foundation is open and transparent and can be verified on the chain. The Sui Foundation will always be transparent and publicly communicate the schedule for the circulating supply of SUI tokens. The Foundation is fighting disinformation and FUD through multiple channels. According to previous news, the director of the South Korean Financial Supervisory Service said that Sui will be investigated to examine whether it has lied about the number of shares in circulation and whether there have been illegal sales.
SEC Review Department: The focus of inspection next year will include crypto trading brokers, etc.
The U.S. SEC released the 2024 Review Focus Report on October 16. For more than a decade, the agency’s review unit has been issuing similar reports to let its registrants know about the emerging risks it will focus on, and cryptocurrency trading brokers and others have been notified. The SEC’s review division has expanded its capabilities and established teams across its various programs to address cryptocurrency, fintech, artificial intelligence and cybersecurity issues in 2023, the report said. The SEC is continuing to observe broker-dealers and advisors working in cryptocurrencies. The department is reviewing registrants that offer new business practices, specifically “technology and online solutions that meet compliance and market needs, such as automated investment tools, artificial intelligence and trading algorithms or platforms.” SEC review divisions will examine how well registrants meet standards of conduct regarding customer advice and their familiarity with the products they offer, and will also assess how risks associated with the use of blockchain and distributed ledger technology are addressed.
Industry News
Regarding the transfer data of vitalik.eth transferring 14.93 million USDC to the exchange Gemini on October 16, a spokesperson of the Ethereum Foundation stated that the transfer was a transfer signed by the domain name address of Vitalik Buterin from the charity multi-signature wallet, and the funds were actually It never leaves Vitalik Buterins wallet. Vitalik Buterin received an initial 14.93 million USDC from Kanro on October 14 and later signed an agreement to transfer an equal amount of funds to a new multi-signature wallet. Kanro is a biotech charity funded by Vitalik Buterin that aims to solve COVID-19 and other pandemic-related issues.
Bitmain fired three employees who revealed information about salary arrears
Bitmain officially issued an internal disciplinary violation report and decided to fire and never hire the three employees involved who violated the rules by publishing the companys salary information on online platforms such as Maimai. At the same time, the company has notified its disciplinary opinions to the school where the intern involved is located, and reserves the right to pursue other legal responsibilities of all those involved. Bitmain once again reiterated its Management Standards for External Information Disclosure in the notification, emphasizing that employees must not disclose any company information to the outside world without the companys authorization. According to previous news, Bitmain has paid out some of the previously delayed wages for September on October 8. According to earlier news, Bitmain’s internal emails showed that the company’s operating cash flow had not turned positive in September, especially the progress of the mine was seriously not up to standard. EMT decided to suspend the payment of part of the salary of all employees in September and pay it according to the situation after the October 7 holiday.
Fidelity files updated version of filing for Bitcoin spot ETF
Fidelity has filed an updated S-1 filing with the SEC for its Bitcoin spot ETF, Wise Origin Bitcoin Trust. Topics mentioned in the new release include: detailed specification of escrow arrangements; clarification of mechanisms related to hard forks; emphasis on valuation and pricing sources and compliance with GAAP (Generally Accepted Accounting Principles); enhanced risk disclosures regarding regulatory uncertainty; acknowledgment The energy-intensive nature of the mining industry. Bloomberg ETF analyst James Seyffart wrote on the X platform that there is more evidence that potential spot Bitcoin ETF issuers are communicating with the SEC about the changes/revisions needed for the agency to consider approval. This is a positive sign. More publishers may submit updated versions in the coming weeks and months.
The giant whale that once suffered a 74% loss due to APE withdraws 1.37 million APE from Binance
According to Lookonchain monitoring, the whale address starting with 0x 55 e 94 withdrew 1.37 million APE from Binance 40 minutes ago, with an average price of $1.09. From January 24 to May 8 this year, the whale purchased 543,979 APE from Binance and DEX at an average price of $4.28 (approximately $2.33 million at the time), and currently has a floating loss of approximately $1.74 million (-74% ).
According to official news, the Sui Foundation announced the Grants list. A total of 15 projects received US$1.06 million in funding, covering products and services in games, DeFi, business, tools and other core areas. The funds will be used to build projects to promote the adoption of Sui And development. The specific list is as follows: Beamable, Coda Network, DegenHive, Raffle.io (DeSuiLabs), Fuzzing Labs, Iguazu, Obelisk Engine, Quidli, Rage Effect (Goldon Studios), Remedi Finance, Smart POS (Esol Labs), Suiet Wallet, Suinvest, Token Distribution Protocol (Kuna Labs), VMeta 3.
Wintermute partners with stablecoin issuer Mountain Protocol to enhance USDM liquidity
Wintermute has partnered with stablecoin issuer Mountain Protocol to enhance USDM liquidity. The collaboration provides non-U.S. users with access to U.S. Treasury yields and will also allow users to exchange USDM for USDC at any time through Wintermute’s liquidity supply, avoiding the bank-side risk of USDM reserves.
Project News
The stablecoin trading project Platypus Finance announced that 90% of the stolen funds have been returned and the net loss has dropped to approximately 18,000 AVAX. As agreed, Platypus will not take any legal action. Platypus will further announce withdrawal arrangement information based on progress. According to previous news, according to PeckShieldAlert monitoring, Platypus attackers transferred 41,000 sAVAX and 104,700 AVAX (a total of 1.4 million US dollars) to the Platypus multi-signature address 0x 068 e...FdEB.
Oracle Pyth Network announces token economics, initial supply accounts for 15%
The oracle project Pyth Network announced token economics. The maximum supply of PYTH tokens is 10,000,000,000 coins, and the initial circulation is 1,500,000,000 coins (accounting for 15%), 85% of PYTH Tokens are initially locked and locked tokens will be unlocked 6, 18, 30 and 42 months after the ICO. The tokens are distributed as follows:
22% allocated to network data providers;
52% allocated to ecosystems;
10% is allocated to protocol developers;
6% allocated to the community;
10% was allocated to the previous two rounds of financing and has been allocated.
Immutable extends the unlocking period of 125 million IMX for another year
Immutable co-founder Robbie Ferguson announced on the The new lock-up period for the tokens is until at least July 2024.
BNB Greenfield mainnet officially launched
BNB Chain announced on the X platform that the decentralized data storage network BNB Greenfield mainnet was officially launched. During the testing phase, more than 200,000 transactions were completed, and the number of interactive wallets reached 150,000. BNB Greenfield’s features include high performance, built-in access control, cross-chain programmability, and more.
OKX Web3 wallet has been connected to Layer 2 network Scroll
According to official news, the OKX Web3 wallet is now connected to the Layer 2 network Scroll. Users can switch to the Scroll network with one click without manual configuration, and seamlessly store and manage Scroll ecological assets through the OKX Web3 wallet. In addition, it also supports synchronous implementation of Scroll ecological DApp interaction in the OKX Web3 wallet discovery section. It is reported that Scroll is the Ethereum L2 network based on ZK Rollup. OKX Web3 wallet is a heterogeneous multi-chain wallet that now supports 70+ public chains. The three terminals of App, plug-in and web page are unified, covering 5 major sectors: wallet, DEX, DeFi, NFT market, and DApp exploration. It also supports the Ordinals market, creating MPC and AA smart contract wallets, exchanging Gas, iCloud/Google Drive backup mnemonics, customizing networks, connecting to hardware wallets and other functions.
Stars Arena will restart trading within 24 hours
Avalanche ecological social protocol Stars Arena announced Paladin’s audit report on its new contract on the X platform and stated that it would restart trading at any time within the next 24 hours.
Investment and Financing
Fileverse raises US$1.5 million in seed funding to build crypto-native decentralized applications
Singapore-based Fileverse announced the completion of a US$1.5 million seed round of financing, led by Gnosis Chain and Factor, with participation from Safe, MaskNetwork, Arweave, Waterdrip Capital, Forward Research, Galxe, Balaji and others. The project aims to build decentralized encrypted native applications to replace traditional Web2 Internet products, such as Google Workspace and Notion, and solve problems such as privacy violations, intrusive advertising, and limited user ownership. Prior to this seed round of financing, Fileverse had received approximately US$280,000 in Grants from the Ethereum community, the Gitcoin community, Polygon, ENS, a16z, Filecoin, Aurora and other institutions, and received donations from more than 14,000 author’s support.
Baichuan Intelligence, a large AI model company, announced today that it has completed the A1 round of strategic financing, with a financing amount of US$300 million. Technology giants such as Alibaba, Tencent, Xiaomi and many top investment institutions participated in the investment, as did the King of Local VC Shenzhen Venture Capital. One of the investors in this round. Including the US$50 million from the angel round, the financing amount of Baichuan Intelligence has reached US$350 million. It is reported that Baichuan Intelligence was founded on April 10, 2023 by former Sogou CEO Wang Xiaochuan. Its core team is composed of talents from well-known technology companies such as Sogou, Google, Tencent, Baidu, Huawei, Microsoft, and Byte. At present, Baichuan Intelligents team size is more than 170 people, of which nearly 70% are employees with a masters degree or above, and more than 80% are RD personnel. With the release of the financing news, Baichuan Intelligence also announced the launch of campus recruitment for the class of 2024 and launched the Star Project, aiming to find elites with technical ideals and love for the AI field.
global policy
South Korea’s financial regulatory authorities will formulate standards for virtual asset listing procedures, internal controls, issuance/circulation volume, etc. based on the accompanying opinions of the “Virtual Asset User Protection Act” enacted in June this year. The summary is expected to be released around January next year when the Congressional Reporting Research Service results are released. In addition, the Financial Supervisory Authority stated that the research services currently being conducted will refer to overseas virtual asset disciplinary cases and regulatory frameworks of international organizations, and when necessary, incorporate regulatory requirements based on virtual asset industry surveys and opinion collection.
New Pennsylvania bill removes two-year crypto mining ban
The Pennsylvania House of Representatives Environmental Resources and Energy Committee voted to pass the Cryptocurrency Energy Conservation Act on October 16, with 13 votes in favor and 12 votes against. Pennsylvania House representatives removed a two-year ban on cryptocurrency mining from their bill to regulate the industry’s energy consumption, claiming unions pressured the change. It is reported that the previously proposed mining ban refers to a two-year suspension of approval of new licenses and license renewals to operate cryptocurrency mines.
The bill’s sponsor, Greg Vitali, included a provision that would require miners to continue to comply with the reporting requirement that cryptocurrency miners in Pennsylvania must submit annual environmental impact reports. New miners in the state must also submit such reports before starting operations.
The Japan Crypto-Asset Business Association (JCBA) submitted an amendment proposal to the Japan Crypto-asset Exchange Association (JVCEA) to revise the leverage ratio for crypto-asset margin trading. Noting that the current leverage ratio is overregulated compared to other derivatives (financial derivatives) markets, the JCBA proposed changes to the calculation method based on past price fluctuations and requested JVCEAs cooperation in implementing the revised proposal. Previously, the maximum leverage for personal cryptocurrency margin trading in Japan was set at 25 times, which is the same as the domestic foreign exchange margin trading market. However, it was further revised in October 2019 and lowered to 4 times. In May 2020, with the Financial Instruments and Transactions With the implementation of the Law, the ratio was reduced to 2 times.
Character·Voice
Evan Cheng, CEO of Mysten Labs, said in an interview that strategic funds will still flow into the cryptocurrency space despite the slowdown, but capital deployment will be more strategic and cautious. Evan Cheng said: Investors around the world are looking for targets, BlackRock is obviously not a fool, they do recognize that there is an opportunity here. I have been talking to people in the Gulf, the United Arab Emirates, Qatar, and they have a lot of interest, They very much want to be at the forefront. The same goes for Asia Pacific, so the money will come in, but they will be more strategic about it.
Former FTX Engineering Director: FTX once paid celebrities $1.3 billion in promotion fees
During SBFs criminal trial, FTXs former director of engineering Nishad Singh read out in court a spreadsheet of transactions that showed FTX had provided well over $1 billion in promotional funds to celebrities and influencers. Those deals include FTX spending $135 million to rename Miamis famed entertainment center FTX Arena (now Kaseya Center). The list also includes $28 million paid to NBA basketball player Steph Curry, $14 million paid to Canadian businessman Kevin OLeary, and undisclosed amounts paid to NFL quarterback Tom Brady, supermodel Gisele Bundchen and actor Larry David. . Singh said the deals totaled $1.3 billion.
Andre Cronje: Funds stolen from Fantom belong to employees, not the foundation
According to Fantom Foundation director Andre Cronje, the funds stolen from Fantom belong to employees and not the foundation. According to previous news, according to CertiK monitoring, some wallets on Fantom Foundation Ethereum and Fantom were attacked, with losses currently confirmed to be $657,000.
