Binance said it did not participate in the second round of financing of Terra; V God opposed the ban on PoW (June 6)
headlines
Binance: Did not participate in the second round of financing of Terra, no LFG board seat and multi-signature qualification
Some community members pointed out that Bill Qian (Bill Chin), the head of Binance Labs, is a member of the LFG Advisory and Regulatory Management Committee, and is also one of the multi-signature holders of the BTC held by LFG.
In response, Binance officially responded that after communicating with relevant members of the Labs team, the complete incident was restored as follows:
In 2018, Binance participated in the early investment of the Terra team, purchasing 15 million LUNA (now LUNC) at a price of 3 million US dollars, with no equity or LFG seats. The signing entity at that time was Terraform Labs Pte. Ltd., and this was Binance’s only investment in Terra. This is consistent with what CZ tweeted on May 16, 2022.
Although Binance did not complete the second investment in Terra in the end, the website and other materials prepared by the Terra team in the early stage have kept Binance investment and other relevant information. After being discovered by the Binance Labs team, it has already been invested in the first time. Contact the Terra project team to communicate about removing Binance and Bill. All the above information can be verified by the Terra team.
cryptocurrency
ARK report: Bitcoin closed down for the first time in 9 consecutive weeks, and the fundamentals are still strong
News ARK Invest recently released its first monthly report on Bitcoin, the main points are as follows:
- Bitcoin price closed down 17.2% in May, falling from $38,480 to $31,835. For the first time in history, Bitcoin closed down for 9 consecutive weeks. Bitcoin’s correlation with the S&P 500 is at an all-time high.
- Bitcoin still faces an uncertain macro environment as the global economy shows signs of recession.
-The UST and LUNA crashes marked one of the biggest fiascos in the history of the crypto market, sending a warning to the crypto market, wiping about 3% of the total market capitalization.
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Industrial blockchain
Russian Industrial Giant Rostec Develops Blockchain-Based CELLS Platform as SWIFT Alternative
Russian state-owned Rostec has used blockchain technology to build the CELLS platform to facilitate international settlements between Russia and its partners, as well as the storage of digital currencies. CELLS is designed to replace SWIFT, the global payments messaging system, from which many Russian banking institutions have been disconnected as part of Western sanctions.
Oleg Yevtushenko, executive director of Rostec, said that the digital payment system based on the blockchain platform can completely replace SWIFT, providing high-speed, secure and irrevocable transactions.
BAYC officially confirmed that Discord was attacked and NFT worth about 200 ETH was stolen
GameFi and NFTs
BAYC officially confirmed that Discord was attacked and NFT worth about 200 ETH was stolen
BAYC stated on its official Twitter that its Discord server was briefly attacked today. The team quickly discovered and resolved the problem, but NFTs worth about 200 ETH were still affected. The team is currently investigating and recommends that affected users send emails Contact the official by email.
BAYC stated on its official Twitter that its Discord server was briefly attacked today. The team quickly discovered and resolved the problem, but NFTs worth about 200 ETH were still affected. The team is currently investigating and recommends that affected users send emails Contact the official by email.
The proposal of "keep APE in the Ethereum ecosystem" was supported by more than 92% of the votes
News Up to now, the proposal of "keeping APE in the Ethereum ecosystem" initiated by the ApeCoin community has received 92.07% of the votes in favor.
STEPN responded that some users were identified as Bots: the server encountered DDOS, the network has been restored and the double energy activity has been launched
In response to the fact that some real users were identified as Bots after the recent APP version update, STEPEN officially issued a response stating that the server encountered DDOS, and the network has been restored and the server has been strengthened, and a double energy event has been launched.
The full text is as follows: First of all, we are very sorry for all users who have been identified as Bots for serious sports. We were the first to recognize this problem and started to fix it.
Today, in a very short period of time, the server suffered more than 25 million DDOS and a huge amount of data, which made the network congested, and the AI could not receive the user's data and the default user was Bot.
Currently, we have restored the network and strengthened the servers, and data transmission has been reopened and remains stable. At the same time, we have improved the rules and formulated a processing and identification scheme for user data delays caused by network congestion. Users don't need to worry about being identified as a Bot again, and can use our App with confidence.
We are deeply aware of the inconvenience caused to users, so we launched a double energy event, all players can double energy during the event (not exceeding the upper limit of 20 energy). More details about the event can be seen in the discord announcement.
Otherdeed NFT Market Value Exceeds $1 Billion
OpenSea data shows that the current Otherdeed NFT floor price is 2.9 ETH
Investment and Financing
Cashaa, an Indian encrypted banking platform, will launch a venture capital fund with a scale of 20 million US dollars, planning to invest in 20 to 50 Web 3 start-ups and projects, involving Metaverse, NFT and other fields. (Business Line)
Distributed storage and computing platform Hive announced its official launch and completed a 7 million euro seed round of financing
Encryption trading strategy startup PlayV completes A round of financing, SoftBank Ventures and others participate
Encrypted trading strategy start-up PlayV announced the completion of Series A financing, with participation from SoftBank Ventures, Company K Partners and KB Investment. The specific investment amount has not yet been disclosed.
Encrypted trading strategy start-up PlayV announced the completion of Series A financing, with participation from SoftBank Ventures, Company K Partners and KB Investment. The specific investment amount has not yet been disclosed.
PlayV has established a personalized cryptocurrency asset management platform, users can see the investment strategies of high-level traders, and then better manage their own digital asset portfolios.
Mining Pro will invest 170 million baht to build a cryptocurrency mine in Thailand
Mining Pro CEO Jaturapuch Triphet highlighted the progress of the cryptocurrency mining industry, claiming that it will be a very profitable industry. Triphet revealed that the company earned nearly $6 million in revenue from the sale and rental of mining equipment in the first quarter of 2022. Its goal is to raise that figure to around $30 million by the end of the year. Triphet then pointed out that more and more foreign investors are participating in crypto mining operations in Thailand. Citizens of Vietnam, Hong Kong, Russia and Singapore also settled here. (Cryptopotato)
global regulation
Former U.S. Treasury Secretary: Fed's tightening policy is having an impact on the U.S. economy
Bank of Spain Governor: Crypto Market Is Bigger Than the Subprime Market Before the 2008 Financial Crisis
Pablo Hernandez de Cos, governor of the Bank of Spain, warned of the risks of the cryptocurrency market, saying that the current crypto market is larger than the subprime mortgage market before the 2008 financial crisis. With the emergence of trading vehicles such as ETFs, futures and investment funds, the correlation between these unregulated markets and traditional finance has become closer, and some mainstream encrypted assets (such as Bitcoin, Ethereum and Tether) Trading volumes are already approaching what the New York Stock Exchange sees during certain sessions.
Bank of England official: Any stablecoin that reaches system scale needs to meet commercial bank compliance standards
Andrew Hauser, executive director of markets at the Bank of England, recently outlined how CBDCs and other digital currencies could upend the system by modifying the privileged relationship between central banks and commercial banks. Under certain conditions, digital currencies could increase competition for credit, reduce commercial banks' total deposits (and thus lower reserve requirement ratios), and challenge central banks' ability to act as lenders of last resort.
Armenia’s official agency calls on the country’s central bank to regulate the cryptocurrency industry
Armenia’s official regulator and financial sector has called on the country’s central bank to regulate the cryptocurrency industry to prevent the use of cryptocurrencies for illicit purposes.
Armenia’s State Tax Council (SRC) has asked the Central Bank of Armenia to ensure that the country’s cryptocurrency market is regulated, and the two parties will also work closely together to monitor customs services and tax services involving crypto.
Environmentalists Call on Governor of New York to Sign PoW Encryption Mining Moratorium Act and Deny Greenidge Mining License
Recently, the New York State Senate passed a two-year moratorium on PoW encryption mining. Environmentalist and state Rep. Anna Kelles called on New York Gov. Kathy Hochul to sign the bill into law and deny bitcoin miner Greenidge Generation an air permit during a news conference Friday.
Greenidge Generation immediately announced that the law did not apply to its operations, citing Kelles himself in an April Wall Street Journal report.
Greenidge Generation is one of two bitcoin miners in the state using this model, and its air permit is currently under review by the state's Department of Environmental Conservation (DEC). The department pushed back its decision deadline to June 30, two days after the state is due to elect a new governor. (CoinDesk)
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Legal expert: Do Kwon unlikely to be criminally prosecuted in US
The recent Terre and UST debacle has raised questions about whether its creator, Do Kwon, can be held accountable. According to a CNBC report on the 4th, Randall Eliason, a professor at the George Washington University School of Law who served as an assistant prosecutor for the District of Columbia for 12 years, explained that Do Kwon is unlikely to be criminally prosecuted in the United States.
He emphasized that prosecutors must prove a crime beyond a reasonable doubt, saying, "It's not like murder, where you have a witness to prove who pulled the trigger. If we want to prove what was going on in someone's mind, that's a very important step." It's usually a very difficult process."
V God: Oppose the ban on PoW, and suggest the implementation of carbon pricing
Ethereum co-founder Vitalik Buterin (V God) expressed his opposition to the ban on PoW on Twitter, and pointed out that it is a bad idea for officials to choose which specific applications can use electricity. A better approach would be to directly implement carbon pricing and use some of the revenue to compensate low-income users.
