| ankrBNB will be the only token that can be exchanged for pledged BNB; Amazon plans to restart Twitter advertising (December 5)

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Ankr: ankrBNB will be the only token that can be exchanged for pledged BNB. After its airdrop, aBNBc and aBNBb will be worthless

Elon Musk: Social Media Platforms Want to Make Meme Coin Transactions Easier

Industry news

Odaily News Tesla CEO Elon Musk recently reiterated his support for the meme coin Dogecoin in a conversation on Twitter Spaces. Elon Musk said "Dogecoin to the moon" when asked about the famous Bitcoin imitation. Musk also said the social media platform wants to make it easier to trade meme coins.

Amazon is planning to restart advertising on Twitter for about $100 million a year

Bybit CEO Announces Comprehensive Layoffs

Odaily News According to a tweet by Watcher.Guru, Amazon is planning to restart advertising on Twitter for about $100 million a year.

Bybit CEO Announces Comprehensive Layoffs

Odaily News Bybit CEO Ben Zhou announced a layoff plan as part of an ongoing business restructuring to refocus on the deepening bear market. The planned layoffs will be across the board.
SBF: FTX Clients Deposit Over $5 Billion in Alameda Accounts, Unable to Explain Where Funds Go
Odaily News SBF said he could not explain what happened to the billions of dollars sent by FTX clients to Alameda Research's bank accounts.
It is understood that some FTX customers made deposits by wire transfers to bank accounts controlled by Alameda with the intention of using the money to fund their FTX accounts. According to SBF, this is a holdover from the exchange’s early days, when FTX did not have its own bank accounts.

Over time, FTX clients deposited more than $5 billion into these Alameda accounts, SBF said. Now those funds are gone. He could not rule out the possibility that the money deposited by FTX clients was actually loaned to Alameda. SBF explained that US dollars can be substituted for each other. So it's not like here's this $1 bill that you can trace from start to finish. What you get is comprehensive, various forms of assets.

Odaily News Coinbase signed a cooperation memorandum of understanding with the Telangana state government on Saturday local time, intending to explore the Web3 regulatory sandbox in India and provide support for the Web3 plan implemented by the Indian government as a technical consultant.

Project News

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Project News

Torah Finance will airdrop TRH to UNI and CRV holders

Odaily News DEX Torah Finance, which provides transaction rewards on Ethereum, announced that it will airdrop TRH to UNI and CRV holders. The snapshot will be taken at 13:00 on December 11. This airdrop will release 2% of the total amount of tokens. The initial ratio is 0.017 TRH for holding 1 UNI, and 0.01 TRH for holding 1 CRV. After obtaining TRH, users can obtain veTRH and participate in governance by staking TRH.

Binance Custody Launches Institutional Custody Service in Singapore

Odaily News According to the official announcement of Binance Custody, Binance Institutional SG Pte Ltd (“Binance Custody”) has officially launched institutional custody services in Singapore. Institutional clients previously served by Bifinity UAB operating outside of Singapore will now be served by Binance Custody. Customers will continue to receive eligible wallet storage and staking services. Binance also stated that in due course, Binance Custody will apply for a license from the Monetary Authority of Singapore.
Ripple: SEC Fails to Prove XRP Sales Are Investment Contracts, Asks Court to Grant Summary Judgment Motion
Odaily News Ripple Labs stated that in the lawsuit filed by regulators, the US Securities and Exchange Commission (SEC) could not prove that the company's XRP sales were investment contracts. Previously, the U.S. Securities and Exchange Commission sued Ripple in late 2020, accusing it of selling XRP as an unregistered security.

In a response in support of the motion for summary judgment, Ripple’s attorneys stated, “The SEC failed to demonstrate that any offer or sale of XRP was an investment contract under the federal securities laws. Even in transactions involving the exchange of money, the SEC failed to demonstrate that the purchaser was as As Howey demanded, investing money in a common business rather than simply buying assets.”

The Howey test is a case in which the U.S. Supreme Court determines whether a transaction counts as an "investment contract" and is therefore subject to the disclosure and registration requirements of the Securities Act of 1933 and the Securities Exchange Act of 1934. One of the key elements of the Howey test is whether the transaction implies an expectation of profiting from the work of others, and Ripple says the SEC has failed to demonstrate that such an expectation exists in XRP purchases.
MakerDAO Has Officially Approved GNO as Collateral Proposal

NFT

Odaily News According to the official Twitter, MakerDAO has officially approved the GnosisDAO governance token GNO as a collateral proposal. After evaluation by the Core Unit, it was officially approved after a new round of voting. Users can then mint DAI by using GNO as collateral.
As previously reported, on November 25, MakerDAO has passed a vote to support the addition of GnosisDAO governance token GNO as a collateral asset.
Playboy Magazine Launches First Original NFT Collection "The Playboy Party People"

Odaily News To celebrate the 69th anniversary of "Playboy", the entertainment company will launch the first original NFT series "The Playboy Party People" on the Sandbox metaverse platform.

A total of 1,969 NFTs will be issued in the series (38 of which will be reserved for The Sandbox and Playboy), each NFT will cost 100 SAND; will be released on December 6th, 2022 at 2pm UTC It will go on sale and go live on OpenSea 48 hours after the minting is complete.

Meta urges policymakers to hold off on new rules governing the Metaverse

Odaily News Meta released a policy document on Friday urging policymakers to hold off on creating new rules governing the Metaverse. Meta believes that many existing laws and regulations in the world will also apply to activities in the metaverse, and over-regulation may hinder innovation. (Bloomberg)

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Palantir joint innovation: most cryptocurrencies will fail, and the encryption ecology is a "Ponzi scheme"

Odaily news Palantir co-founder Joe Lonsdale predicted that in the long run, most cryptocurrencies will fail. He stated that the entire crypto ecosystem, including different crypto lenders, tokens and other components, is a "Ponzi scheme." According to Lonsdale, over the past few years, cryptocurrency businesses have been valued based on market demand rather than cash flow or economic appreciation. In addition, Palantir said that FTX and other crypto companies that have previously filed for bankruptcy have a lot of corruption, and the crypto industry will still develop technologies that further promote market development.

Max Keizer: SBF's FTX Token FTT Is a Ponzi Scheme

Odaily News Wall Street analyst Max Keizer said in an interview that SBF's FTX token FTT is a Ponzi scheme, and said, "The key to SBF's 'fraud empire' is that he can create itself without any regulation or any potential value. encrypted token FTT". These “financialized” institutions use “cheap money” and “cross-collateralize” each other to buy “real assets” that are fundamentally “destroying” the U.S. economy, Keizer said.