｜Sui’s first round of incentive testing received 28,000 node applications; Binance launched a law enforcement agency information investigation system (August 26)

headlines

Sui released an announcement on the selection of full nodes and verification nodes, and decided to accept 500 full node operators

Odaily News Sui, a public chain project developed by Mysten Labs, released an announcement on the selection of full nodes and verification nodes, saying that it has received 28,000 applications for verification nodes from more than 80 countries, so it has decided to accept 500 full node operators.
Among them, each full node operator will receive a reward of 200 SUI each time, and each validator will receive a reward of 2,000 SUI, which will only be provided after the main network of the Sui protocol is launched, and will be bound by a one-year lock-up period. Recipients must complete the KYC process before receiving Token rewards.

Binance Launches Information Inquiry and Assistance System for Government and Law Enforcement Agencies

Odaily News According to Binance’s official website, Binance has launched the Government and Law Enforcement Agency Information Search and Assistance System (LERS), which aims to help law enforcement officials of the government and law enforcement agencies collect information from Binance or seek assistance from Binance for ongoing criminal investigations. Law enforcement officers of the government or law enforcement agencies can apply to collect evidence related to judicial investigations or make formal law enforcement requests to Binance through the system.

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headlines
Among them, each full node operator will receive a reward of 200 SUI each time, and each validator will receive a reward of 2,000 SUI, which will only be provided after the main network of the Sui protocol is launched, and will be bound by a one-year lock-up period. Recipients must complete the KYC process before receiving Token rewards.

cryptocurrency

Binance Launches Information Inquiry and Assistance System for Government and Law Enforcement Agencies

Odaily News According to Binance’s official website, Binance has launched the Government and Law Enforcement Agency Information Search and Assistance System (LERS), which aims to help law enforcement officials of the government and law enforcement agencies collect information from Binance or seek assistance from Binance for ongoing criminal investigations. Law enforcement officers of the government or law enforcement agencies can apply to collect evidence related to judicial investigations or make formal law enforcement requests to Binance through the system.
my country will build an authoritative and credible digital identity chain to strengthen personal digital identity authentication
Odaily News Recently, the "Research and Application of Digital Identity Blockchain Technology Based on Legal Documents" led by the First Research Institute of the Ministry of Public Security was officially launched and entered the implementation stage. As the underlying platform of the blockchain, "Chang'an Chain" will support the construction of a high-performance distributed digital identity architecture and provide technical support for the construction of my country's trusted digital identity system. In the future, daily travel, electronic payment, and public services will be more convenient, and personal privacy information will be better protected.

Typical scenarios such as IoT devices, public services, and electronic payments will be piloted first. Using verifiable digital identity certificates to replace the original admission cards, access control cards and other passes not only facilitates entry and exit, but also improves community security; using your own digital identity certificates to replace the original various certificates can achieve dozens of government affairs Serving "one-pass processing"; in terms of electronic payment, citizens are supported to use distributed digital identities to link multiple bank accounts, so as to realize "one-time authentication, multi-party processing". (Beijing Daily)

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cryptocurrency
Chipmaker Nvidia's Crypto Mining Chip Revenue Continues to Fall

Odaily News Chip giant Nvidia (Nvidia) said that its sales of cryptocurrency mining processors (CMP) in the second quarter of fiscal 2023, which ended on July 31, were "little", down from $266 million a year ago. . Nvidia had used the same term to describe CMP sales last quarter, when it noted that CMP was a drag on revenue for its "OEM and other" business unit.

Overall revenue for the "OEM and other" business unit fell 66% in the second quarter from a year earlier to $140 million, mainly due to lower notebook OEM sales, Nvidia's chief financial officer said. The "OEM and other" business unit contributed only about 2% of total revenue in the second quarter.

Nvidia's total second-quarter revenue was $6.7 billion, in line with consensus estimates, according to FactSet. In early August, Nvidia said it expected revenue of $6.7 billion, well below its previous forecast of $8.1 billion, largely due to lower gaming revenue. (CoinDesk)

Bitcoin Mining Firm Argo Cuts 2022 Hashrate Target Estimate by Nearly 42%
Odaily News Bitcoin mining company Argo Blockchain said on Wednesday that it plans to reach a computing power of 3.2 EH/s by the end of 2022. This is down 41.8% from the 5.5 EH/s it previously announced. At the end of July, the computing power of Argo was 2.2 EH/s.

In a filing with the U.S. Securities and Exchange Commission (SEC), Argo CEO Peter Wall said the change reflects the company's current expectations for the delivery of Intel's Blockscale ASIC chips and the deployment of custom machines. Wall said, “We have worked closely with ePIC and Intel to modify the machine design to increase the overall mining efficiency, which has delayed our expected deployment time. Additionally, as market conditions remain volatile, we are reducing the overall spending on these machines by to preserve our optionality."

Argo reported a pre-tax loss of £36.9 million ($44.9 million) for the first half of 2022, mainly due to a reduction in the non-cash fair value of digital currencies on its balance sheet; revenue was £26.7 million. (The Block)
Binance issued an announcement to support the Ethereum merger plan, planning to suspend deposits and withdrawals of ETH and ERC-20 tokens

Binance issued an announcement "Support Ethereum Merger Plan", saying that the upgrade and merger of Ethereum Bellatrix is ​​expected to be carried out at 19:34:47 on September 6 and 8:30 on September 15, Beijing time, and Binance will suspend ETH at that time and ERC-20 network tokens; if no new tokens are generated after the hard fork, Binance will resume the recharge and withdrawal services of ETH and ERC-20 network tokens as soon as possible, and make a separate announcement; After the hard fork, two competing blockchains will be generated and a new token will be generated. The "ETH" code will be used in the Ethereum PoS chain, and Binance will also take a snapshot of the ETH position before the execution layer upgrade. (Estimated at block height 15540293 of the Ethereum mainnet or 8:30 on September 15th, Beijing time), the forked tokens will be distributed to users from the chain with less work completed at a ratio of 1:1, and will support forking For the withdrawal service of forked tokens, details about the distribution will be announced separately.

FTX PR Firm Denies Contracting to Publish Negative Binance Articles

Odaily News Crypto KOL FatMan tweeted, "Verified sources confirm that M Group Communications, FTX's public relations firm, has been contracted to publish negative media articles about competitor exchange Binance. Employed journalists have access to anti-Binance links 'Blacklist' of people and research references."

M Group Strategic Communications responded that FatMan’s above remarks are not true, “This tweet is wrong. We demand ourselves with the highest moral standards, and we will not and will never cooperate with the media to push any industry, any Negative coverage of the business."
The five major South Korean exchanges restrict the deposit and withdrawal services of 16 foreign encryption platforms including KuCoin and MEXC
According to news on August 25, the five major crypto exchanges in South Korea (Upbit, Bithumb, Coinone, Korbit, and Gopax) announced that they plan to restrict 16 companies that target Korean users but conduct undeclared illegal business activities from August 28. The deposit and withdrawal business of foreign virtual asset exchanges, the specific list includes KuCoin, MEXC, Phemex, XT.com, Bitrue, ZB.com, BitGlobal (Bitglobal), CoinW, CoinEX, AAX, ZoomEX, Poloniex, BitX (BTCEX), BTCC, DigiFinex and Pionex. (Korea Economic Daily)
According to previous news, the Financial Analysis Institute (FIU) of the South Korean Financial Services Commission has launched an investigation into unregistered overseas virtual asset trading platforms operating in South Korea, and has currently restricted the deposit and withdrawal of funds from 16 trading platforms including KuCoin, MEXC, and ZB.
The twelfth shadow fork of the Ethereum mainnet is expected to take place on August 31

Odaily News The twelfth shadow fork configuration of the Ethereum mainnet has been released. The total terminal difficulty (TTD) is expected to arrive at around 14:00 CEST time on August 31 (20:00 Beijing time), and the Ethereum mainnet will be launched at that time. The Twelfth Shadow Fork of .

StarkNet House Announces Global Hackathon Winners

Odaily News StarkNet House tweeted that the list of global hackathon winners is as follows:

1st Prize $8,000 for StarkNet Recovery Service by @parkyeuth, Remi Gai, @nimapourjafar.
The second prize is Aaron, rayhuangtw.eth's StarkNet Hyper Account Kit (StarkNet Hyper Account Kit), with a bonus of $5,000.

The third prize is Player vs AI On-chain Chess (Player vs AI On-chain Chess) for players from yettaahhhh, Giwook Han, and wonderwonton, with a bonus of $3,000.

StarkNet House will be in the next week or so to contact the winners and distribute their prizes.
Crypto VC GDA Capital will partner with the Fantom Foundation to fund Fantom projects and developers
Odaily News Dogechain announced the resumption of airdrop applications. Dogechain said that the team has found the root cause of the application problem and solved it in time. Airdrop application is online again.

GameFi and NFTs

Earlier news, Dogechain tweeted that after the launch of DC tokens, the network load increased, and many users were unable to claim their DC from the airdrop page. In order to solve this problem, Dogechain temporarily suspended the application process. In addition, Dogechain stated that the user's application has no risk of loss, and the airdrop page will resume soon.

Acala is tracking the remaining 51 million mis-minted aUSD and will provide a 5% bounty to those who return
Odaily News Acala tweeted that it has identified the remaining 51 million aUSD in the aUSD miscast event, the vast majority of which are still in Acala’s relevant addresses, and about 70% of the relevant transactions still need to be tracked.

Acala stated that it will provide a bounty of up to 5% to the addresses that return the funds involved in this incident (need to return 95% of the funds). Once the funds are returned, Acala will take no other action against these addresses.

According to previous reports, Acala released an update on the aUSD event, and the community referendum passed and destroyed the abnormally additional 2.97 billion aUSD.

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GameFi and NFTs
Reddit Has Started Airdropping Its Polygon-Based "Favorites"
Paradigm proposes the NFT issuance mechanism VRGDAs, and the sales price fluctuates with changes in demand

Investment and Financing

Odaily News Paradigm published the article "Variable Rate GDAs", proposing a novel token (NFT) issuance mechanism, variable rate GDAs (VRGDAs) are specially designed for digital art experiment Art Gobblers, and used in 0xMonaco. Raising prices when sales demand is high, and lowering prices when sales demand is low, VRGDAs provide a way to issue NFTs almost any time people want, while still allowing users to seamlessly buy at any time.

Huobi Global announced that it has completed the iBox equity transfer on January 14, 2022
Odaily News Huobi Global issued an announcement stating that recently, Huobi Global received some iBox users asking for information about their purchases.

Regarding matters related to the iBox platform, Huobi Global stated that Huobi Global will gradually withdraw from the business in mainland China from May 2021, and will gradually complete the complete removal of users in mainland China by 24:00 on December 31, 2021 (GMT+8). During the liquidation process, iBox, the NFT comprehensive service platform that had participated in the cultivation, was also withdrawn, and the equity change was completed on January 14, 2022. So far, Huobi Global has no equity or business relationship with the iBox platform.

Huobi Global has currently closed all its businesses in mainland China.
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Investment and Financing

Bitcoin ATM company Bitcoin Depot plans to list on Nasdaq through SPAC, with a valuation of about 885 million US dollars
It is reported that Bitcoin Depot, established in 2016, is the largest Bitcoin ATM provider in North America, with more than 7,000 Bitcoin ATMs in the United States and Canada. (WSJ)

Web3 Software Development Company Thirdweb Completes $24M Funding Led by Haun Ventures

Odaily News The Israeli venture capital firm Cyberstarts, which is the investor of the cryptocurrency platform Fireblocks, announced the completion of a $60 million seed-stage fundraising, bringing its total assets to $374 million.
It is reported that Thirdweb provides pre-built smart contracts and SDKs to help developers create various products, and also provides a dashboard for development teams to track and manage contracts on the chain. It currently supports Ethereum, Avalanche and Fantom, and plans to integrate into Solana ( tentatively scheduled for the end of September). This round of financing will be used to expand to public chains such as Cosmos, NEAR, and Flow. (The Block)

Cyberstarts was founded in 2018. The founder Gili Raanan is a partner of Sequoia Capital. As of 2021, the total valuation of the venture capital portfolio will reach 20 billion US dollars. (The Record)

So far, the fund has made about 15 investments, including Web3 game studio BlinkMoon, Polygon-based metaverse platform Mojo, and e-sports platform Community Gaming. (techcrunch)
NFT Genius, a company that provides NFT projects and marketplace technology, is developing Gaia, a Flow-based NFT secondary market powered by Dapper Wallet that accepts credit card payments to make it easier for non-crypto natives to buy NFTs. NFT Genius will use the new funding to expand its footprint beyond sports and support major entertainment and cultural deals to expand the Gaia marketplace to reach mainstream consumers. (NFTgators)

Web3 Startup Comm Completes $5M Seed Round Led by CoinFund

It is reported that Thirdweb provides pre-built smart contracts and SDKs to help developers create various products, and also provides a dashboard for development teams to track and manage contracts on the chain. It currently supports Ethereum, Avalanche and Fantom, and plans to integrate into Solana ( tentatively scheduled for the end of September). This round of financing will be used to expand to public chains such as Cosmos, NEAR, and Flow. (The Block)
Comm aims to let community members host their own backend servers, with only the users themselves able to access their data. The consumer privacy startup is working on scaling end-to-end (E2E) encryption for chat apps like Signal or Whatsapp Messenger service and compete with encrypted community platforms such as Discord. (blockworks)

AID:Tech, the reputation platform on the Web3 chain, completes a new round of financing, led by EMURGO Ventures

Web3 Startup Comm Completes $5M Seed Round Led by CoinFund
A digital identity solution based on decentralized identifiers (DID) and NFTs, AID:Tech can help people build scores related to their on-chain reputation, and its reputation proof protocol can be based on people's time and Contributions provide incentives.

global regulation

Comm, a Web3 messaging app, has raised a $5 million seed round led by CoinFund. Comm currently has 4 full-time employees and about 12 part-time staff working on the project. The Comm CEO plans to continue expanding his New York-based team after the raise, with a small number of employees working remotely.

Comm aims to let community members host their own backend servers, with only the users themselves able to access their data. The consumer privacy startup is working on scaling end-to-end (E2E) encryption for chat apps like Signal or Whatsapp Messenger service and compete with encrypted community platforms such as Discord. (blockworks)
AID:Tech, the reputation platform on the Web3 chain, completes a new round of financing, led by EMURGO Ventures

AID:Tech, the reputation and rewards platform on the Web3 chain, announced the completion of a new round of financing, but the specific amount was not disclosed. EMURGO Ventures led the investment, Josue Estrada, chief operating officer of the Chan Zuckerberg Initiative, a company owned by the founder of Facebook, and several Web3 field venture capitalists. Participate in the vote.

A digital identity solution based on decentralized identifiers (DID) and NFTs, AID:Tech can help people build scores related to their on-chain reputation, and its reputation proof protocol can be based on people's time and Contributions provide incentives.
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global regulation
Under the current tax regime, unrealized gains are taxable because the company's holdings are taxed based on their market value at the end of the period (end of the business year). The financial burden of fledgling start-ups is heavy, and some companies even relocate to countries with looser regulations such as Singapore. In the new mechanism discussed by the Financial Services Agency and others, the cryptocurrency issued and held by the company will not be included in the taxable objects at the end of the period, and will be taxed when it generates profits such as sales. (Yomiuri Shimbun)

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South Korea's FIU to Conduct First Sanctions Review Against Crypto Exchange Operators on Aug. 30

Odaily News The Financial Intelligence Unit (FIU) under the South Korean Financial Services Commission will set up a sanctions review committee for crypto exchange operators and conduct the first sanction review for crypto exchange operators on August 30. This will be the first comprehensive inspection by South Korean authorities since the implementation of the Special Financial Act last year and the inclusion of crypto exchanges in the FIU regulatory framework.
In this sanction review, the regulator will check whether crypto exchange operators have violated the "Special Financial Law" and will impose fines if violations are found. The FIU can impose a cease-and-desist order when an operator fails to comply with a corrective order or accumulates agency warnings.
As of August, they have completed the comprehensive inspection of Coinone, Gopax, and Upbit and obtained the results. On August 30, the targets of the sanction review are Coinone and Gopax. It is expected that all exchanges will attend the sanction review on the same day and review the pointed matters. illustrate. In addition, FIU is planning to start a comprehensive inspection of Bithumb on September 1, following Coinone, Gopax, and Upbit.

It is reported that the "Special Financial Act" clearly stipulates that if the exchange has violations in matters such as KYC certification and reporting suspicious transactions, a fine of less than 100 million won will be imposed. However, if there are cases such as using insider trading or abusing power, you may be sentenced to a fixed-term prison sentence or suspend business. (News1)

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