| Binance becomes the largest entrusted address of UNI; 4,400 investors set up URG organization to track down Do Kwon (October 20)

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Odaily News Uniswap founder Hayden Adams tweeted that Binance entrusted 13,242,550 UNIs yesterday, becoming one of the addresses with the largest number of UNIs entrusted. This situation is very special. Although this volume only accounts for 1.3% of the current total number of UNI delegates, Uniswap's governance voting rights are still very scattered. Technically, these UNIs belong to Binance users. Usually more official participation in governance is a good thing, but it is unclear how Binance will participate in Uniswap's governance. I hope that CZ can communicate with Uniswap and express governance plans and opinions in the spirit of transparency and openness.

Industry news

Industry news

Short-term implied volatility in bitcoin options hits record low at 48%

Odaily News According to the weekly report released by the blockchain analysis company Glassnode, the option pricing of Bitcoin’s short-term implied volatility (IV) has reached an all-time low of 48% in the past week. Both saw wild swings, often exacerbated by the deleveraging of derivatives and DeFi markets.

US Congressman: A Regulatory Framework for Stablecoins Won’t Come Anytime Soon

Odaily News U.S. House of Representatives Financial Services Committee member Jim Himes (Democrat of Connecticut) said that due to the upcoming election, the stablecoin regulation bill will not be passed in the current Congress, "this may not happen in early 2023." In a report earlier this month, the Biden administration urged the U.S. Congress to advance encryption regulation and interagency cooperation. (cryptopotato)

IRS Publishes New Draft Tax Guidance, Changing "Virtual Currency" to "Digital Assets"

Odaily News The U.S. Internal Revenue Service released the draft tax guidance for 2022, replacing the old category "virtual currency" with a broader "digital asset" language, and clearly covering assets such as NFT. Cryptocurrency investors will have to calculate and report taxable income “if citizens dispose of any digital assets held as capital assets in 2022 by way of sale, exchange, gift or transfer,” according to the latest filing.

Bloomberg: Japan plans to further relax encryption rules and simplify the currency review process

Regulators are allowing cryptocurrency exchanges to list tokens directly without going through a lengthy screening process, unless the tokens are new to the Japanese market, according to documents seen by Bloomberg. The rules, which could come into effect as early as December, help startups compete with established players by simplifying the token listing process and lowering barriers to market entry.

Association of Indian Software and Services Companies: India currently has 11% of the world's Web 3.0 talent

Odaily News A new study released by the National Association of Software and Services Companies (NASSCOM) in India has revealed that the country currently hosts 11% of the world's Web 3.0 talent, ranking third globally. As of now, there are nearly 75,000 blockchain professionals in India, and the talent pool is expected to grow by more than 120% in the next two years. India is also home to 450 Web 3.0 startups, four of which are unicorns. India's Web 3.0 ecosystem has raised $1.3 billion in funding by April 2022. Furthermore, more than 60% of Indian Web 3.0 startups have expanded their footprint abroad. (cryptosnewz)

The French Financial Market Authority: The encryption company registration system will be gradually replaced by the MiCA framework
By 2024, the system will be replaced by the EU Market in Cryptoassets (MiCA) framework, which goes further than the current anti-money laundering checks in France and includes safeguards aimed at ensuring investor protection, market integrity and financial stability.

Project News

Project News

4,400 investors set up URG organization to track down Do Kwon, saying he may be in Dubai
Odaily News According to the British "Financial Times" report, about 4,400 encrypted investors formed the UST Restitution Group (URG), aiming to track down Do Kwon, the founder of Terra, on a global scale. URG members are already actively tracking clues.
Members of the group share the latest clues via Discord. Recent clues suggest that Kwon may be living in Dubai, Russia, Azerbaijan, Seychelles or Mauritius. Kwon is more likely to be in Dubai due to the local crypto-friendly policies. “Dubai is crypto-friendly, very international (he won’t stand out), and has a limited extradition treaty. This seems to best explain the 3-5 hour time difference that is evident in the data,” said a URG member.
According to previous reports, Do Kwon publicly stated that South Korea's charges against him were "politically motivated." Do Kwon declined to confirm that he had left Singapore or reveal his current whereabouts. Do Kwon once again reiterated that he is not "at large" because he has not seen the arrest warrant and all the information he knows about the charges comes from the media. (Finbold)

Terra developers propose a 4-year ecological recovery plan, which will provide 95 million LUNA incentive tokens

Terra developers propose a 4-year ecological recovery plan, which will provide 95 million LUNA incentive tokens

Odaily News Terra developers this week put forward a new proposal "Terra Expedition", hoping to revive its ecosystem. Terra Expedition will include 4 plans, which are expected to provide a total of 95 million LUNA incentive tokens, as follows: developer funding plan (a total of 20 million LUNAs), developer mining plan (a total of 20 million LUNAs), liquidity mining Mine incentive plan (total distribution of 50 million LUNAs within 4 years) and user incentive plan (total of 5 million LUNAs). (CoinDesk)

Data: Ripple officially transferred 75 million XRP to an unknown address, worth $35 million

Odaily News According to Whale Alert data, Ripple officially transferred 75 million XRP to an unknown wallet, worth $35 million; in addition, in the past 24 hours, giant whales transferred a total of 158.7 million XRP, worth $72 million.

Odaily News Reddit chief product officer Pali Bhat said that currently more than 3 million Reddit users have created encrypted addresses using Reddit's Vault wallet. Bhat noted that 2.5 million of those wallets were created to purchase NFTs launched by Reddit. According to dune data, the total number of Opensea traders (who have made at least one transaction) is 2.3 million. (beincrypto)

Avalanche mainnet activates Banff upgrade, supports subnet validators to use subnet tokens for pledge

Investment and Financing

Investment and Financing

Bolster, an automated digital risk protection company, completes $15 million in financing, led by Cervin, Liberty and others

Bolster, an automated digital risk protection company, completes $15 million in financing, led by Cervin, Liberty and others
Bolster can automatically detect and quickly repair threats in digital media and Web3 networks, monitor and combat fraudsters on the Internet, and provide the most effective protection across networks, social media, and app stores to combat fraudulent websites and content.

Modular blockchain network Celestia completes $55 million in financing, led by Polychain Capital and others

Modular blockchain network Celestia completes $55 million in financing, led by Polychain Capital and others
Odaily news Celestia Foundation announced the completion of $ 55 million in financing, led by Bain Capital Crypto and Polychain Capital, Placeholder, Galaxy, Delphi Digital, Blockchain Capital, NFX, Protocol Labs, Figment, Maven 11, Spartan Group, FTX Ventures, IOSG Ventures, Smrti Lab, Jump Crypto, Balaji Srinivasan, Eric Wall, Jutta Steiner and others participated in the investment.

Celestia introduces a modular blockchain architecture to solve the challenges of deploying and scaling blockchains. Current modular blockchain projects such as Eclipse, Constellation, and dYmension have chosen Celestia as their data availability layer. Celestia launched its testnet Mamaki in May this year, introducing a new data availability API. Mamaki's upgrade is scheduled for late October 2022.

Odaily News Web3 music platform Audius announced the acquisition of virtual music experience platform SoundStage. Through this acquisition, Audius will be able to provide users with virtual concerts and enhance its competitiveness in the Metaverse market. Artists on its platform will also be able to provide their fans with interactive live music experiences. (The Block)

P2E Gaming Platform Arcade2Earn Completes $3.2 Million Financing Led by Crypto.com Capital

Jaleel Menifee, co-founder of Arcade, said that the platform is currently under development, and its Demo version is planned to be launched before the end of this year, after which the platform and its tokens will be officially released. (The Block)
Jaleel Menifee, co-founder of Arcade, said that the platform is currently under development, and its Demo version is planned to be launched before the end of this year, after which the platform and its tokens will be officially released. (The Block)

Solana Infrastructure Company Helius Closes $3.1M Funding Led by Reciprocal Ventures and Chapter One

Solana Infrastructure Company Helius Closes $3.1M Funding Led by Reciprocal Ventures and Chapter One

Odaily News Solana infrastructure startup Helius announced the completion of a US$3.1 million seed round of financing, led by Reciprocal Ventures and Chapter One, Solana Ventures, Alchemy Ventures, Big Brain Ventures, Propel VC and other institutions, as well as Magic Eden co-founder Zhuoxun Yin, Squads co-investment Angel investors including founder Stepan Simkin participated in the investment.

Helius aims to provide tools to help developers build Web3 applications in less time and at lower cost. Helius launched its invite-only Alpha test two months ago and has now opened its platform to the public. (Decrypt)

Green Asset Capital, with over $1 billion in asset management, launches four crypto funds
Odaily News Global digital asset investment group Green Asset Capital announced the launch of four encryption funds, focusing on sustainable, early and growth stage investments in financial technology, cryptocurrency, blockchain, DeFi, NFT, Web3, and Metaverse.

Green Asset Capital currently manages 40,000 Bitcoins (BTC) and 200,000 Ethereums (ETH), with total assets exceeding $1 billion at current prices. (openpr)

Encrypted Wallet Startup Pine Street Labs Completes $6M Seed Round Led by Polychain Capital
It is reported that Pine Street Labs aims to change the wallet experience for any enterprise that needs to store tokens. The company's solution is a non-custodial encrypted wallet API "walletOS", which is a tool for automating workflow, building transactions and providing services for any area. A system of blockchain-deployed wallets, purpose-built for enterprises with the scale and security to use efficiently across 12 different blockchains.

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SBF: Digital Goods Consumer Protection Act will provide protection for CEX users
Odaily News FTX founder Sam Bankman-Fried (SBF) said that the work of the Crypto verification program is verification rather than review. Centralized Exchange (CEX) users are protected.