| Sei Labs is raising Series A funding at a $400 million valuation; ZigZag has flagged 12,000 Sybil addresses (2.28)

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Tim Beiko: The Goerli test network will eventually be closed, and in the future, test networks such as Sepolia can mint more ETH

Sei Labs is raising Series A financing at a valuation of $400 million, will launch the Sei Network mainnet and conduct airdrops

Odaily news Ethereum core developer Tim Beiko tweeted: "The Goerli testnet will eventually be closed. In the future, the testnet including Sepolia can mint more ETH. I hope that the genesis file of the testnet will include more addresses in the future. .”

Sei Labs is raising Series A financing at a valuation of $400 million, will launch the Sei Network mainnet and conduct airdrops

Odaily News Three sources said that Sei Network developer Sei Labs is conducting a Series A financing at a token valuation of US$400 million. According to co-founder Jayendra Jog, the Sei Network mainnet launch and airdrop is expected to take place in the coming months. (The Block)
Coinbase L2 Network Base Extends Base, Introduced NFT Free Minting Time by One Week

Odaily News Coinbase L2 network Base said on Twitter that it will extend the free minting period of the commemorative NFT "Base, Introduced" for one week.

Coinbase released the L2 network Base on February 23, and launched a commemorative NFT "Base, Introduced" for this event. The total amount of this NFT is unlimited.

ZigZag founder: 12,000 witch addresses have been marked, and this part of the airdrop will be returned to ordinary users

Odaily news ZK Rollup order book DEX ZigZag founder Kedar said on social media that 12,000 witch addresses have been confirmed so far. The witch's standard is to have more than 10 accounts with exactly the same L1 + zksync activity, which is only used for 3 -Users at 4 regular addresses are currently not flagged. The marked sybil address will not issue airdrops, and these tokens will be returned to ordinary users in the form of "loyal user airdrops", and an announcement will be made as soon as possible.
Among them, stakewith.us, NGC Ventures, and Lead Capital have sold all their unlocked Tokens, while institutions such as DCG, OKX, and Coinbase have not yet sold.

Industry news

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Industry news
Texas Opposes Proposed Binance.US-Voyager Deal, Citing Insufficient Disclosure of Terms, Restructuring Plans
Odaily News According to a court filing on February 24, the Texas Securities Commission and the banking department opposed the proposed transaction between Binance.US and the bankrupt crypto lending agency Voyager Digital.
According to the document, Binance.US’s terms of service and restructuring plan contain numerous “inadequate” disclosures, including failing to adequately inform unsecured creditors that they may only be able to recover 24%-26% of their recovery under the plan, rather than under the Chapter 7 got 51 percent of the recoveries.

The filing also states that the company’s disclosure statement fails to inform account holders that they must allow “transfers of sensitive personal information as requested by Binance, which then deprives account holders of any legal recourse for any issues that may arise.”

Additionally, the filing claims the program "unfairly discriminates against consumers in Texas." Since Texas is not a jurisdiction supported by Binance.US, after the agreement is signed, the digital assets of customers in the state will be held by Voyager for 6 months, during which time Binance.US will seek a license in the state. (Cointelegraph)
Japanese crypto exchange bitFlyer co-founded Yuzo Kano seeks a new CEO and guides the company's IPO
Odaily News Japanese encryption exchange bitFlyer co-founder Kano Yuzo plans to issue a shareholder proposal at the parent company’s shareholders’ meeting in late March to resume his position as the exchange’s CEO and guide it through an IPO, seeking to end A dispute over control of the startup with current management and other shareholders.
He noted that since he stepped down as president, the company has not achieved results commensurate with costs. He noted that he hopes to make the company a global start-up that can compete on the world stage after improving the company's internal controls and strengthening compliance.

It is reported that bitFlyer was founded in 2014 by Kano Yuzo and his former boss at Goldman Sachs. In 2018, the Financial Services Agency of Japan pointed out deficiencies in the company's internal control system and issued a business improvement order. Therefore, Kano Yuzo resigned from the post of president at that time and was in charge of management. Currently Kano Yuzo owns 40% of BitFlyer.

Earlier news, Singapore private equity fund ACA Group abandoned the acquisition of Japanese exchange bitFlyer. (Bloomberg)
CoinFLEX Demands that Blockchain.com Return Over $4.3M Worth of Its FLEX or Will Sue
Cryptocurrency exchange CoinFLEX has asked Blockchain.com to return its $4.3 million worth of FLEX tokens, or it will initiate legal action.
This requirement is based on the AMM+ (Automated Market Maker) participation agreement purportedly dated April 12, 2022, when Bitcoin was priced at $40,000. But the existence of the agreement is still disputed. (Decrypt)

Project News

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Project News
Solana released a report on the mainnet downtime on February 25: the root cause has not been clarified and is under active investigation
Odaily News Solana officially released the mainnet downtime report on February 25th today. The report pointed out that the root cause of the downtime has not yet been clarified, and the team is currently actively investigating.
At 5:46:16 UTC on February 25, 2023, Solana mainnet performance issues eventually forced validator nodes to automatically enter a "vote-only" security mode. Although consensus voting transactions can proceed normally, the network cannot process user transactions.
Engineers debugging the problem suggested restarting the network. The validator community collectively agreed and decided to downgrade to the previous stable version, v1.13.6, while reducing the risk of reboots, while v1.14 was recently rolled out.

The initial restart attempt was canceled to allow time for a more thorough data analysis and to ensure user transactions were not affected. After further analysis, the community collectively restarted the network using an older slot than previously selected. Unconfirmed user transactions were rolled back or affected.

At approximately 01:28 February 26, 2023 (UTC), the Solana Mainnet Beta was successfully restarted and the network resumed processing user transactions.
Klaytn announces plans for 2023 to achieve mass adoption through elements such as sustainability

Odaily News Korean Internet giant Kakao's public chain Klaytn announced its plan for 2023. Its vision is to achieve large-scale adoption through the three elements of sustainability, verifiability and community. It includes 6 strategic goals and 18 detailed measures, focusing on Prioritize ecosystem sustainability, ensure verifiability through transparent governance and operations, and foster a strong and vibrant community.

Among them, sustainable measures include sound token economics strategy, optimized treasury, launch of Klaytn Community Fund and Klaytn Foundation Fund, launch of permissionless network pilot in the second half of 2023, optimization of node specifications, etc.; verifiable measures include the establishment of GC department Committee, start chain voting, start quarterly ecosystem report, etc.; initiatives to cultivate the community include developing and launching Klaytn’s Oracle, opening SDK, launching Metaverse package, launching hackathon KlayMakers 23, launching the Alpha version of Web3 social infrastructure, etc.
BitDAO ecological L2 network Mantle launched a new proposal, proposing to launch a $200 million Web3 ecological fund

BitDAO ecological L2 network Mantle launched a new proposal, proposing to launch a $200 million Web3 ecological fund

Odaily News Mantle Core, the second-layer network of Ethereum developed by the BitDAO ecosystem, submitted a proposal on the BitDAO governance forum on February 26, intending to launch a $200 million Web3 ecological fund Mantle EcoFund, which aims to promote developers and Dapp adoption of the Mantle network.
The proposal proposes a $200 million capital pool to be deployed in the Mantle ecosystem over the next three years. The BitDAO treasury will provide $100 million in USDC, while another $100 million will be provided by external matching funds from “strategic venture partners.” If approved, Mantle EcoFund and venture partners will participate in the project on a 1:1 co-investment ratio, with Pre-Seed, Seed and A rounds for Web3 startups targeted by the ecosystem fund.
The proposal proposes to transfer $1.5 million POL (liquidity owned by the protocol) from the Uniswap LP pool to Velodrome based on LayerZero's cross-chain liquidity protocol Stargate and bribe the STG-USDC pool. Velodrome will match Stargate according to the "Tour de OP" incentive plan 40% of bribes (bribes), which can have more than 4 times the impact on STG-USDC's liquidity incentives.

Velodrome Community Launches New Proposal Proposing Stargate Transfer $1.5M POL to Velodrome

Odaily News Velodrome, the AMM protocol on Optimism, launched the "Make Velodrome the STG Hub on Optimism" proposal on Commonwealth, aiming to increase the liquidity of Stargate on Optimism.
The proposal proposes to transfer $1.5 million POL (liquidity owned by the protocol) from the Uniswap LP pool to Velodrome based on LayerZero's cross-chain liquidity protocol Stargate and bribe the STG-USDC pool. Velodrome will match Stargate according to the "Tour de OP" incentive plan 40% of bribes (bribes), which can have more than 4 times the impact on STG-USDC's liquidity incentives.
Meanwhile, LP will still be used, and Stargate can choose to migrate additional POL to Optimism. Stargate will lock VELO rewards from staking earnings into veVELO to reduce the need to release STG while maintaining liquidity on Optimism.
Locked veVELO will automatically earn Stargate a locked reward, typically worth 30-40% of locked VELO, paid in OP.

Meanwhile, LP will still be used, and Stargate can choose to migrate additional POL to Optimism. Stargate will lock VELO rewards from staking earnings into veVELO to reduce the need to release STG while maintaining liquidity on Optimism.

Locked veVELO will automatically earn Stargate a locked reward, typically worth 30-40% of locked VELO, paid in OP.
Nansen: Blur's transaction value, transaction volume and number of unique wallets all hit record highs last week

Odaily News According to the data released by the blockchain analysis company Nansen on social media, the transaction volume of the NFT market Blur reached 394,000 ETH last week, or about 653 million US dollars; the transaction volume reached 352,051, and the number of new independent wallets on the platform was 54 , 119, all hitting record highs.

In addition, the Ethereum gas fee on the Blur platform reached 8,618 ETH in the past 7 days.
According to official data from Odaily News, 9 GAG quoted 999 WETH to "Jimmy Key". Currently, the NFT holder Mongraal is listed at 2222 ETH.

Investment and Financing

Earlier news, the well-known e-sports player and anchor @Mongraal asked United Planetary DAO on social media to double the bid (690 ETH) of the Dookey Dash game "Jimmy Key", which is 1380 ETH, which is about 2.2 million US dollars, and said that it will accept This offer.

Investment and Financing
Blockchain Founders Fund announced that its Fund II has completed a $75 million fundraising, LPs include Polygon, Ripple, and LD Capital, etc.

Odaily News Blockchain Founders Fund (BFF) announced that its Fund II has completed fundraising, LPs include Polygon, Ripple, Octava, NEO Global Capital (NGC), Appworks, The Sandbox COO Sebastien Borget, GSR, LD Capital, Metavest Capital wait.

BFF's Fund II aims to support Pre-Seed and Seed stage Web3 and blockchain startups with high growth potential. (PR News Wire)
SEC Shuts Down Republic's $75 Million Metaverse Fund
The fund is primarily focused on buying virtual real estate in NFT games such as The Sandbox, Axie Infinity and Decentraland. After buying the virtual land, it plans to hold it for a long time while continuing to develop it into a virtual shopping mall, event space and other communities. Such communities can generate "rents" similar to real estate and provide ongoing income for the fund.

Identity verification platform Vouched closes $6.3M Series A led by BHG VC and SpringRock Ventures LLC

Odaily News Vouched, an artificial intelligence-based fintech identity verification platform, announced the completion of a US$6.3 million Series A financing, led by BHG VC and SpringRock Ventures LLC, with participation from Darrell Cavens and Mark Vadon. So far, its total financing amount has reached US$18 million.
According to information on Vouched’s official website, the company provides KYC identity verification services for cryptocurrency investors, helping crypto companies and exchanges securely attract new customers and establish a baseline of trust. In addition, its services are currently expanding to more than 300 banks and financial technology companies . (silicon angle)

GameFi social platform BEBO LAB completes $2.3 million in financing

GameFi social platform BEBO LAB completes $2.3 million in financing

Ammalgam, a DeFi strategy protocol, announced the completion of a $750,000 Pre-Seed round of financing

According to reports, Ammalgam will unleash more DeFi functions by combining lending and trading into one protocol. This combination constitutes a revenue stream while increasing capital efficiency and unlocking unlimited strategies for market makers.
According to reports, Ammalgam will unleash more DeFi functions by combining lending and trading into one protocol. This combination constitutes a revenue stream while increasing capital efficiency and unlocking unlimited strategies for market makers.

global policy

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global policy
IMF prefers to differentiate and regulate cryptocurrencies rather than ban them outright
Odaily News The International Monetary Fund (IMF) prefers to differentiate and regulate crypto assets rather than enforce an outright ban, although the latter option is still up for debate.
On the sidelines of a meeting of G20 finance ministers in Bengaluru, India, IMF Managing Director Kristalina Georgieva explained how the UN financial institution views digital assets and what it would like to see in terms of regulation. “We are very supportive of regulation of the digital currency industry,” she said, which is a top priority.
In an interview with Bloomberg published on Feb. 27, she answered questions about a possible blanket ban on cryptocurrencies. She said that there is still a lot of confusion about the classification of digital currencies: "Our first goal is to distinguish between state-backed central bank digital currencies and publicly issued encrypted assets and stablecoins." Georgieva further explained that good regulation, predictable Sexuality and consumer protection would be a better option, and there is no need to consider banning cryptocurrencies. When asked what led to the decision to ban cryptocurrencies, she said the failure to protect consumers from the fast-growing crypto asset industry would be the main catalyst.
She added that fully reserve-backed stablecoins create a “pretty good space” for the economy, but unbacked crypto assets are speculative, high-risk, and not money.

In previous news, IMF President Kristalina Georgieva said that the world should conduct more regulation on private cryptocurrencies, private encrypted assets are not currencies, and encrypted assets may cause financial stability problems. We should not abandon the discussion of banning private cryptocurrencies.

In addition, U.S. Treasury Secretary Yellen said in a statement that she did not recommend a complete ban on cryptocurrency activities, but establishing a strong regulatory framework is crucial. (Cointelegraph)
Odaily News The South Korean National Assembly held its first bill review subcommittee this morning, but failed to discuss the Digital Assets Basic Act, known as the Omnibus Act on Virtual Assets. While 17 virtual asset-related bills were submitted on the day, discussions failed as they were pushed to a lower priority due to the revision of the Capital Market Act. Especially with the full session of Congress this afternoon, there is not enough time to discuss the bill itself.

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According to the report, although South Korean politicians expressed their hope to formulate the "Digital Assets Basic Act" within 2022, the bill review committee had shelved a discussion of the bill last month. Therefore, it is expected that the regulatory blank period will be further extended. Unlike the country’s rapid introduction of STO regulatory guidelines before, this is because the consultations in the political circles have not been smooth. (TechM)

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Mysten Labs CEO: Exploring a web3 venture fund

Odaily News Mysten Labs co-founder and CEO Evan Cheng confirmed that he is exploring a web3 venture fund. Evan Cheng said that there are many web3 funds, but investors are looking for something that is more not limited to a specific ecosystem and is very consistent with LPs, but also supported by people who really understand web3 technology and products fundamentally. In addition, Evan Cheng also stated that the fund will not only invest in the Sui ecosystem. (The Block)
Animoca co-founder Yat Siu: Giving up NFT royalties will "kill" Web3