| Huobi announced the new Chinese name "Huobi"; Curve released the stablecoin crvUSD code and white paper (November 23)

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特邀专栏作者

2022-11-23 08:00 (UTC+8)

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Genesis had been in talks with Binance about a potential investment.

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Genesis had been in talks with Binance about a potential investment.

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Huobi Announces New Chinese Name "Huobi"

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Odaily News This afternoon, Huobi announced the new Chinese name "Huobi" at the rebranding conference held in Singapore.

Curve releases code and white paper for its stablecoin crvUSD

Odaily News The developers of the decentralized exchange Curve Finance have released the official code and white paper of Curve's upcoming decentralized stablecoin crvUSD.
Yesterday, Justin Sun mentioned that today’s press conference will showcase Huobi’s rebranding content and plans to rebuild Huobi.

Curve releases code and white paper for its stablecoin crvUSD

Odaily News The developers of the decentralized exchange Curve Finance have released the official code and white paper of Curve's upcoming decentralized stablecoin crvUSD.

Odaily News Genesis, an encryption lender facing a liquidity crisis after FTX filed for bankruptcy this month, has been seeking to raise at least $1 billion in new funds, including negotiations with Binance on a potential investment, but so far financing has not materialized.

Industry news

"There are no immediate plans to file for bankruptcy and the goal is to resolve the current situation in a consensual manner without requiring any bankruptcy filing. The company continues to engage in constructive dialogue with creditors," a Genesis representative said in an email. (Bloomberg)

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Industry news

People familiar with the matter: Sun Yuchen spent about US$1 billion to acquire about 60% of Huobi’s equity through Baiyu Capital

Odaily News According to people familiar with the matter, Justin Sun spent about US$1 billion to acquire about 60% of the shares of Huobi through Hong Kong asset management company About Capital. Sequoia China and ZhenFund also sold their combined 28 percent stake in Huobi Global to About Capital. Justin Sun kept his name out of the deal to avoid Chinese oversight, people familiar with the matter said. (Bloomberg)

It was previously reported that Huobi’s controlling shareholder completed the share sale, and Baiyu Capital’s M&A fund became the actual controller. Sun Yuchen joined the Huobi Global Global Advisory Committee and responded repeatedly that he was not a buyer of Huobi.

Report: Grayscale Bitcoin Trust Will Not Be Affected by Genesis Crisis, Its Trust Structure Will Protect Its Holders

Odaily News Bernstein Research, a well-known financial advisory firm in the United States, released a report stating that the suspension of withdrawals by Genesis Global Capital does not directly affect the Grayscale Bitcoin Trust (GBTC). No claim can be made on GBTC assets.

Odaily News FTX Group's 2021 tax returns totaled to show a net operating loss of $3.7 billion carried forward. This means that SBF's business, which mainly includes Alameda Research and FTX, has posted a net loss of $3.7 billion since its inception.

Project News

SBF has publicly disclosed its financial situation many times before, and last year he publicly stated that Alameda achieved a profit of US$1 billion in 2020. According to CNBC, FTX's leaked 2021 financial report shows that the company will be profitable in 2021 with a net profit of $388 million. Earlier this year, SBF stated repeatedly in interviews with Bloomberg that FTX is profitable. (Forbes)

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Project News

The USDC collateral of the giant whale address shorting CRV is being liquidated on Aave V 2

Odaily News The health factor of the giant whale address starting with 0 x 57 e 0 on Aave once dropped to 0.99, and its USDC collateral is being liquidated.

The founder of Curve added 20 million CRV mortgage assets to avoid liquidation, after the short selling of giant whales caused the price of CRV to fluctuate

Polygon Avail has completed the first phase of the test network and is expected to release the main network next year

Odaily News Lookonchain tweeted to explain the reasons for the recent fluctuations in CRV prices. On November 13, the ponzishorter.eth address deposited about 40 million USDC into Aave and borrowed CRV for selling. CRV price dropped around 26% from $0.625 to $0.464 in the past week.

5 hours ago, ponzishorter.eth borrowed 20 million CRV from Aave and transferred to OKX; 3 hours ago borrowed 10 million CRV from Aave again. This address dumped a large amount of CRV, so many users who used CRV as collateral will face liquidation. The founder of Curve previously used CRV as collateral to borrow USDC, and was also facing liquidation; 3 hours ago, he added 20 million CRV collateral assets.

Polygon Avail has completed the first phase of the test network and is expected to release the main network next year

Odaily News Polygon announced that the modular blockchain Avail has completed the first phase of the test network and is about to enter the second phase. It is expected to release the main network next year.

In Phase 2 of the Polygon Avail testnet, Polygon plans to add up to 100 additional external validators to create a stronger and more mature blockchain testing environment.

Polygon Avail works by storing transaction data from any other blockchain and proving the availability of transaction data it holds.

According to previous reports, in August this year, the Polygon Avail test network was launched, which can handle 420 transactions per second.

Boba Network proposed a consensus check proposal to deploy Uniswap V3 on Boba

Odaily News Cosmos ecological MEV infrastructure provider Skip Protocol tweeted that Skip Protocol officially launched the Cosmos ecological EVM compatible chain Evmos. On Evmos, Skip Protocol will allow node verifiers to complete the execution of auctions at the top of the block and the capture and distribution of maximum extractable value (MEV) revenue within a shorter block time (the team said it is less than 2 seconds). It is dedicated to MEV The democratization of , protecting users from erroneous MEV policies.

Investment and Financing

Decentralized identity project Carv completes $4 million financing at a $40 million valuation

NFT utility platform Tropee completes $5 million in seed round, led by Tioga Capital

Odaily News NFT utility platform Tropee completed a $5 million seed round of financing, led by Tioga Capital, with participation from The Sandbox co-founder and CEO Sébastien Borget, Exclusive founder Thibault Launay, Geometry's Grégoire le Jeune and Gem founder Lorens Huculak et al.

Tropee aims to inject practical utility into NFT and help brands improve user experience. The project was launched last May with a team that includes the co-founder of French unicorn Meero. (The Block)

DLT Raises $3.5M for Subsidiary, Will Launch Digital Assets Unit Focused on Bitcoin Mining

It is reported that the company launched a blockchain investment fund in 2014 and has been actively promoting the construction of Bitcoin mining infrastructure since 2015.

Web 3 Social Media Platform ReelStar Raises Over $5 Million Through IT 0