- Singapore plans to ban Crypto leverage trading; $48.3 million was stolen from KyberSwap (November 24)

3 months ago
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The U.S. Department of Justice filed a motion to prohibit CZ from leaving the United States before sentencing.

- Singapore plans to ban Crypto leverage trading; .3 million was stolen from KyberSwap (November 24)


Singapore plans to ban cryptocurrency margin or leverage trading by mid-2024 to curb retail speculation

Odaily News Singapore has proposed new regulations to further strengthen its stance on retail cryptocurrency speculation, including prohibiting individual investors from borrowing money to trade.
The Monetary Authority of Singapore (MAS) said in a statement on Thursday that digital payment token service providers are not allowed to offer any incentives for retail cryptocurrency trading, nor are they allowed to provide financing, margin or leveraged trading, and are also unable to accept local issuances credit card payment.
The agency also expanded retail trading rules to include all investors regardless of residence. Previously, the restriction only covered investors based in Singapore. The MAS has also made it clear that incentives such as referrals, learn-to-earn schemes and similar marketing will be restricted. The new measures will be phased in from mid-2024. (Bloomberg)

The U.S. Department of Justice files a motion to bar CZ from leaving the U.S. before sentencing.

Odaily reported that John Reed Stark, the former director of the Internet Enforcement Office of the US SEC, posted on the . Jones reviewed this decision and ordered CZ to remain in the United States. According to the Ministry of Justice, the reasons for the CZ lien were:
1. CZ is very rich and a billionaire;
2. Much of CZ’s wealth may be beyond the control of U.S. authorities;
3. CZ resides in the UAE, which does not have an extradition treaty with the United States;
4. Although CZ voluntarily entered court to plead guilty, it is likely that CZ will choose not to return for sentencing as the possibility of prison time increases.
Under the terms of the current bond agreement, CZ can leave the United States because he has deposited $15 million in a trust account, signed a $175 million personal surety bond and found a surety to provide additional funds.

CZ: My mental state is very stable and I am “enjoying” my free time.

Odaily News CZ posted on the X platform, thanking you for your concern. Although I cannot respond or even see everyone, I am really grateful. CZ also said: Although I often joke that I want to retire early, now that the change has finally arrived, I am trying to adapt to this change. In the past two days, some friends have told me that there will be a flexible mentality stage, although I am not sure about this. Whether or not the statement is true, but as always, my mental state is stable and I am currently enjoying all the free time I suddenly have.

KyberSwap was attacked on multiple networks, with losses amounting to $48.3 million

Odaily reported that according to Spot On Chain monitoring, KyberSwap was attacked on multiple networks, including Arbitrum, Optimism, Ethereum, Polygon and Base. The amount of losses reached US$48.3 million, mainly including 16,217 ETH (valued at US$33.5 million), 3,987,332 ARB (valued at US$4.06 million), 591,441 OP (valued at US$1.03 million) and 1,111 , 926 DAI.

Industry News

Grayscale files for an updated S-3 filing to convert GBTC to a spot Bitcoin ETF, proposing to change the ticker GBTC to BTC

Odaily News Bloomberg ETF analyst James Seyffart posted on the , this move confirms that Grayscale is in negotiations with the SEC and will make updates/changes to its product documentation following discussions and feedback with the SEC.
Yesterday’s news, James Seyffart posted on the Other potential Bitcoin spot ETF issuers are also rumored to have met with the SEC over the past week.

People familiar with the matter: OpenAI resumes employee stock sales plan, company valuation now reaches $86 billion

Odaily News According to a person familiar with the matter, OpenAI will resume its plan to sell employee shares after Sam Altman returns as CEO of OpenAI, which currently values ​​the company at $86 billion. A group of investors led by Thrive Capital will buy up to $1 billion of the companys stock and possibly more. The deal is expected to close next month.
At least until this Altman incident, a range of investors were expected to be involved, including Ashton Kutchers Sound Ventures, an existing shareholder whose involvement in the upcoming tender had never been previously reported.
Sound Ventures had committed to a tender offer worth about $100 million before the firings, a person familiar with the matter said. Its unclear whether Sound still plans to participate. (The Information)

CoinFLEX creditors believe OPNX is in the process of rebuilding"appropriate"its assets

Odaily News Creditors of cryptocurrency futures exchange CoinFLEX claim that OPNX, established by Three Arrows Capital (3AC) co-founders Kyle Davies and Su Zhu, was created using CoinFLEX assets without their consent. OPNX co-founder and former CEO Mark Lamb misappropriated and/or otherwise misused assets, human resources, and intellectual property to transfer CoinFLEX’s trade secrets and other technology into OPNX. The complaint alleges that Lambs actions breached his duties to CoinFLEXs creditors during his tenure. (Cointelegraph)

Silvergate Capital has paid off its deposit liabilities in full

Odaily News Silvergate Capital said it has repaid all outstanding deposit liabilities in full and, according to the statement, Silvergate currently has less than $10,000 in assets. The bank said in March that it intended to voluntarily liquidate due to losses caused by the collapse of crypto trading platform FTX. (Reuters)

Project News

Starknet: Testnet has been moved to Sepolia, support for Goerli testnet will end at the end of 2023

Odaily News Ethereums second-layer expansion solution Starknet issued an article on the Sepolia.
Starknet has migrated full nodes, API services, SDKs, and other Starknet development tools to the Sepolia testnet on November 15. All developers will be urged to migrate to Sepolia once ready. The Sepolia testnet will remain Clean and support all Cairov 0, v2.0.0 and above versions.

Sui announces latest Grant projects, including DeFi, gaming, education and tool projects

Odaily News Sui announced the latest Grant projects, including DeFi, games, education and tool projects. These projects have received over US$500,000 in Grants, namely:
1. DeFi product KriyaDEX for institutions;
2. PVP chain game SuiAutoChess;
3. Verification API application WelldoneStudio;
4. Blockchain incentive layer fluiditymoney;
5. Pledge derivative agreement LegatoFinance;
6. DAO tool MPay;
7. Data project blockvisionhq;

Kava 15 mainnet will be launched on December 7, KAVA token inflation rate will be permanently reduced to zero

Odaily News Kava Network officially announced that the Kava 15 mainnet will be launched on December 7, and plans to implement a new feature, which is to permanently reduce the KAVA inflation rate to zero at midnight UTC time on December 31. At that time, the circulating KAVA supply is set to the maximum KAVA supply, new KAVA coins cannot be created, and KAVA tokens can only be destroyed. All KAVA inflation mechanisms are zeroed out or removed from the chain protocol, reinforcing Kava’s commitment to a stable and predictable ecosystem.
After December 31st, operations of the Kava chain will shift to a sustainable model, driven by transaction fees, emissions from native projects, and temporary allocations from the Kava Foundation. This model aims to maintain and generate KAVA’s net surplus through on-chain activities. The Kava community will have the power to decide whether to burn this surplus or reinvest it to promote further adoption, enhance security, and promote decentralization within the network.

Blockchain jointly developed by Astar and Sony may be launched within months

Odaily News Astar Network founder Sota Watanabe said on the X platform that Startale Labs has internally determined the launch schedule for the blockchain jointly developed with Sony, and the next few months will be exciting.
Previously, Sony Network Communications, a wholly-owned subsidiary of Sony, and Startale Labs, the development company of Astar Network, jointly announced that they will establish a joint venture subsidiary Sony Network Communications Labs Pte. Ltd. in mid-September. The new company will focus on the blockchain Research and development of chain technology.
Startale Labs CEO Sota Watanabe said in this regard that the new joint venture subsidiary will promote the development of Sony Chain, which has the potential to surpass Coinbase’s previously released Layer 2 network Base.

Movement Labs launches Ethereum L2 M 2 based on Move

Odaily News Movement Labs launched Ethereum L2 M 2 based on Move, which modularizes the data availability layer for expansion and accelerates the creation of high-performance consumer DApps. Where Move VM is optimized for high throughput, with a native fee market and embedded support for formal verification, M2 also scales with Blobstream to transfer Celestia’s high-throughput modular DA to Ethereum for use by L2 integrated.

The Uniswap community voted to approve the temperature check proposal of “delegating 10 million UNI to underrepresented representatives”

The official governance page of Odaily News shows that the Uniswap community has voted to adopt the temperature check proposal of delegating UNI to active but underrepresented representatives. The proposal seeks to delegate 10 million UNI from the DAO’s treasury to underrepresented representatives. The top four candidates will be awarded a maximum of 2.5 million UNI tokens, and the remaining tokens will be evenly distributed among the other candidates. These tokens will not be tradable and will only be used by these representatives for voting purposes, thereby increasing their say in governance proposals.
According to the voting results, it is confirmed that the top four representatives 404 DAO, Wintermute Governance, PGov and StableLab will be authorized to receive 2.5 million UNI. The remaining UNI will be divided between Keyrock, Karpatkey, and atiselsts.eth based on their respective votes. The next steps will be to calculate the quantities required for each authorization and incorporate a technical understanding of implementation.

The cross-chain trading platform Chainflip officially launched the token FLIP and has been listed on Crypto.com, Bybit and other exchanges

Odaily News The cross-chain trading platform Chainflip officially stated on the In addition, Thunderhead’s liquidity staking service has been launched, allowing users to stake FLIP and earn rewards without running their own nodes.

Huang Licheng is buying and staking BLUR. He has purchased 386,721 BLUR so far.

Odaily reports that according to Lookonchain monitoring, Huang Licheng is buying BLUR and pledging it. So far, he has bought 386,721 BLUR ($188,000).

sudoswap launches sudoAMM progressive Dutch auction

Odaily News NFT trading protocol sudoswap announced the launch of sudoAMM Gradual Dutch Auctions (GDA), allowing for the effective sale or purchase of NFT over time.
When sold, GDAs have a high initial price and then adjust the price over time, similar to a Dutch auction. Each time a token is sold, the pool price increases, allowing for continuous price discovery. When buying, the initial price is low, increases over time, and then adjusts downwards with each purchase.

POLS Market trading market is online, POLS is open for trading

Odaily News POLS Market officially issued a document on the X platform stating that its trading market polsmarket.wtf has been launched, and POLS is also open for trading today.

Investment and Financing

Venture capital firm Leo Ventures launches $10 million new fund to invest in Web2 and Web3 technology startups

Odaily News Singaporean venture capital firm Leo Ventures announced the launch of a US$10 million fund that will focus on investing in Web2 and Web3 technology startups in APAC, India and the Middle East. Web2 plans to support financial technology, deep technology and ESG technology, as well as related projects in vertical fields such as artificial intelligence and machine learning, while Web3 will support DeFi, L0, L1, infrastructure, Web3 payment solutions and Web3 consumer technology related projects. s project. (GlobeNewswire)

NFT gaming company Matr1x completed $10 million in Series A-2 financing, led by Folius Ventures

Odaily News Singaporean NFT game company Matr1x announced the completion of US$10 million in Series A-2 financing, led by Folius Ventures (SevenX is a co-lead investor), with participation from ABCDE Capital, Jambo, Initiate Capital and Find Satoshi lab. So far Matr1x has raised US$20 million. The new funding will be used to launch its NFT shooter mobile game.
It is reported that Matr1x Fire is the studios flagship product, a first-person shooter for mobile devices that allows players to choose from a roster of playable characters and fight in teams of five. The game is still in development; in the meantime, the studio has released two NFT series and plans to release a third series that will serve as a membership pass and provide buyers with upgradeable battle pets. (Decrypt)

global policy

Indian Finance Minister: Countries need to establish effective mechanisms to control crypto assets and should not implement comprehensive bans

Odaily News India’s Finance Minister Nirmala Sitharaman shared the latest progress in the implementation of the cryptocurrency regulatory roadmap at yesterday’s G20 Leaders Online Summit. On the timeline for regulatory action in India beyond the road map, Sitharaman said it was still early days.
Sitharaman said that countries need to establish effective mechanisms to control crypto assets, stressing that not only G20 countries should be involved, but also FSB members around the world. While acknowledging the possibility of countries enacting their own cryptocurrency laws, refrain from imposing a “blanket” ban on cryptocurrency activities. (Cryptonews)


Scroll Lianchuang: All L2 can do the same thing as Blast, but it won’t lead to real growth

Odaily News Scroll co-founder Ye Zhang posted on the X platform that it is not a bad thing to see experiments like Blast. It shows how much TVL scale can be achieved once Layer 2 decides to fulfill its airdrop expectations. All Layer 2s can do the exact same thing, but that doesn’t drive real growth and long-term network effects.

Kraken Co-Founder Comments on Binance Settlement: Game Becomes Fairer, Suggests Crypto Industry Self-Regulation

Jesse Powell, co-founder of crypto exchange Kraken, said that despite the U.S. Department of Justice’s historic criminal settlement with Binance and the SEC’s just-filed new lawsuit against Kraken, Kraken is “playing the long game.” Powell said in a post that the game feels fairer as Binance pays a $4.3 billion fine.
Powell pointed out that in the face of new threats to the reputation of the industry, he believed that every illegal operation was an opportunity for the government to find trouble for cryptocurrency, and called on the industry to self-regulate, because timely protection cannot be expected. Powell also mentioned Coinbase and Ripple in the article, saying they were easy targets for the SEC along with Kraken.
The SEC previously accused Kraken’s parent company of unregistered offerings of its crypto-asset staking rewards service program, a charge it ultimately settled with a $30 million settlement. Powell said this was just the beginning of another blackmail by the SEC, emphasizing that the $30 million would only last about 10 months. He advised crypto companies that cannot afford costly legal battles to leave the United States. (The Block)

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ODAILY reminds readers to establish correct monetary and investment concepts, rationally view blockchain, and effectively improve risk awareness; We can actively report and report any illegal or criminal clues discovered to relevant departments.

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