| Do Kwon will appeal the court's decision to extend the detention period; Base Ecological Fund announces four directions of support (March 27)

headlines

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headlines

Do Kwon to appeal court decision to extend detention

Odaily News Terraform Labs co-founder Do Kwon will appeal the court's decision to extend his detention by up to 30 days after he was arrested in Montenegro for trying to use forged documents.

While Montenegrin authorities usually stipulate a maximum 72-hour detention, the court found Do Kwon was an unidentified foreigner, and Do Kwon's 30-day extension was granted after prosecutors highlighted the possibility of a jailbreak. (Cointelegraph)
A&T Capital: will fully cooperate with relevant units in the investigation, and set up an independent investigation team internally

Odaily News A&TC Capital issued an announcement saying that Mr. Yu Jun is currently facing some personal problems, which are under investigation. A&TC Capital has a firm policy of zero tolerance for any unethical or illegal conduct. Although Yu Jun is no longer in A&T, A&T Capital will fully cooperate with the investigation of relevant units, pay close attention to the progress and results of the investigation, and wait for the fair judgment of the judicial process.

At the same time, A&T established an independent investigation team led by founding partner Jasmine to conduct a comprehensive investigation into the whole process of the matter, and will announce the results of the investigation to all employees. If there is a violation of workplace ethics, it will be dealt with seriously. Mr. Yu Jun once represented one of our investors in A&TC Capital. He has resigned from the investor's company. Accordingly, Mr. Yu will no longer be involved in any affairs of A&TC Capital and will no longer represent the Fund. This change will not affect the operation of the Fund.
The Base Ecological Fund announced four major support directions, including stable coins and on-chain reputation platforms, etc.
Odaily News Coinbase Ethereum Layer 2 Network Base published a blog post a few days ago, announcing the four major directions of its ecological fund support:
1. Stablecoins (flatcoins) that track inflation;
4. Safer DeFi, this includes tools that can prevent smart contract code vulnerabilities or protocol logic errors, and eventually on-chain insurance and insurance agreements, or any other product that can provide users with critical support in the event of smart contract failure.

Industry news

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Industry news
Foreign media: Elon Musk’s latest valuation of Twitter is only $20 billion, less than half of the acquisition price

According to people familiar with the matter, Elon Musk said in an email to Twitter employees that he would provide stock awards to Twitter employees at a valuation of about 20 billion U.S. dollars, which is less than the 44 billion U.S. dollars he paid for the acquisition of Twitter. Half of , showing that Twitter's market value is declining. Twitter has yet to comment on the news.

Additionally, Musk expects Twitter to make less than $3 billion in revenue this year, and considering the company's $13 billion in debt, the $20 billion valuation implies an implied enterprise value of $33 billion, or 11 times this year's revenue. (The Information)

Coinbase Begins Donating to Pro-Cryptocurrency Candidates in US Election

Odaily News Coinbase CEO Brian Armstrong said that the exchange intends to start donating to candidates who support cryptocurrencies in the US general election. The statement came a day after the company received Wells' notice from the U.S. Securities and Exchange Commission (SEC). Armstrong urged cryptocurrency users to elect pro-crypto candidates. It also noted that the exchange will work to organize cryptocurrency users in favor of candidates who could have a positive impact on the industry as a whole. (watcher.guru)
OPNX, a new debt market founded by Su Zhu and others, is expected to launch the claim trading function in a month

Odaily News The claim trading function of the new debt market Open Exchange (OPNX) founded by Su Zhu, founder of Three Arrows Capital and others, is expected to go live in one month, and the exact date has not been confirmed as of this week.

When the claims trading feature launches, users will be required to pay an upfront fee and go through a multi-step process to see funds, said Open Exchange CEO Leslie Lamb, who did not disclose the fee structure.
Dune Analytics data shows that as of press time, 983,777,250 ARB airdrops have been claimed, accounting for 84.65% of the total airdrops.

Project News

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Project News
Cosmos Ecological Token Protocol Noble to Launch Mainnet on Monday

Odaily news Cosmos ecological token agreement Noble will release the main network on Monday. Noble CEO Jelena Djuric said the platform, which has been in development for six months and built using the Cosmos software development kit (SDK), is designed to help issuers manage their tokens, including burning, minting, blacklisting and other features, Help deepen liquidity across the Cosmos DeFi space.

Djuric said that in a sense, Noble hopes to stimulate token issuance to transfer liquidity from other layer 1 ecosystems by becoming their token factory, hoping to facilitate the issuance of native assets by working with protocols and institutions. (Blockworks)
Hydra, the Layer 2 expansion solution on the Cardano chain, will soon release the beta version of the mainnet

Hydra, the Layer 2 expansion solution on the Cardano chain, will soon release the beta version of the mainnet

According to Odaily news, according to InputOutputHK on social media, Hydra, the second-layer scalable solution on the Cardano chain, will soon release its mainnet beta version.
IOG released a weekly report stating that the Hydra team is currently exploring node mainnet compatibility, and has added a gold test suite to the Hydra Plutus script. Hydra-node misconfiguration was detected.
According to the latest statistics from IOG, as of now, 1,215 projects are being built on the Cardano chain, of which 118 projects have been officially launched, processing a total of 63.5 million transactions.

The Aave community's ARFC proposal for deploying the Aave V3 MVP version on the zkEVM mainnet is now open for voting

Odaily News The Aave community's ARFC proposal for deploying the MVP version of Aave V3 on the zkEVM mainnet is now open for voting. zkEVM is an EVM equivalent to zk-rollup L2 developed by the Polygon team. It is expected to be deployed on March 27. Aave V3 has Successfully deployed on the ZkEVM testnet for about 6 months. This ARFC proposal, which should be considered a temperature check, allowing development and risk service providers to conduct a deeper analysis of the zkEVM network, will close on March 29th at 18:00.

The Aave community's ARFC proposal for deploying the Aave V3 MVP version on the zkEVM mainnet is now open for voting

Odaily News The Aave community's ARFC proposal for deploying the MVP version of Aave V3 on the zkEVM mainnet is now open for voting. zkEVM is an EVM equivalent to zk-rollup L2 developed by the Polygon team. It is expected to be deployed on March 27. Aave V3 has Successfully deployed on the ZkEVM testnet for about 6 months. This ARFC proposal, which should be considered a temperature check, allowing development and risk service providers to conduct a deeper analysis of the zkEVM network, will close on March 29th at 18:00.

MakerDAO is voting on the Maker Charter

Earlier news, according to official news, Yuga Labs announced that the "Otherside: 2nd Trip" event on the Otherside metaverse platform is tentatively scheduled to go live on March 25.

Yuga Labs launches "Otherside: 2 nd Trip" campaign

Official news from Odaily, Yuga Labs announced the launch of the "Otherside: 2 nd Trip" event, Voyagers and invitees need to go to the Infinity Room and prepare to enter the 2 nd Trip.
Earlier news, according to official news, Yuga Labs announced that the "Otherside: 2nd Trip" event on the Otherside metaverse platform is tentatively scheduled to go live on March 25.
According to reports, Voyagers will be able to enter the experience 15 minutes before the start of Trip (travel), and Otherdeeds NFT holders will have the opportunity to participate in this event. The 2nd Trip is by invitation and more details on how the Guest Pass will work will be provided in the coming weeks.
Once the 2nd Trip reaches capacity, players will no longer be able to join the experience. Voyagers will have priority over guest passes for access to the experience. Participation links will be posted that day. Travelers on the 2nd Trip will be eligible for FIRST TRIP Obelisk Fragments.

According to reports, Voyagers will be able to enter the experience 15 minutes before the start of Trip (travel), and Otherdeeds NFT holders will have the opportunity to participate in this event. The 2nd Trip is by invitation and more details on how the Guest Pass will work will be provided in the coming weeks.

Once the 2nd Trip reaches capacity, players will no longer be able to join the experience. Voyagers will have priority over guest passes for access to the experience. Participation links will be posted that day. Travelers on the 2nd Trip will be eligible for FIRST TRIP Obelisk Fragments.

PROOF Launches Web3 Creator Acceleration Program "Outliers"

Odaily news NFT project Moonbirds parent company PROOF announced on social media the launch of the Web3 Creator Acceleration Program "Outliers", which aims to support creators who "try to break through technical barriers and innovate through their artwork". It is reported that the first batch of shortlisted for the 2023 spring queue There are 15 creators, including Terrell Jones, Alien Queen, Patrick Amadon and more.
Pudgy Penguins: Rogs props will be deployed as amplifiers in the ecosystem for the first time in Q2 Project Overpass

Odaily News According to official news, Pudgy Penguins announced that its Rogs series props have entered a new era, which will serve as a multiplier in the ecosystem and can be used to select on-chain issuance, licensing transactions, or possible future claiming activities.

As a prerequisite, the Rogs line needs to be paired with either Big Pudgy or Lil Pudgy. For example, Rogs can increase royalties on licensing transactions when pairings are complete. This practical feature will be deployed for the first time in Project Overpass in Q2.
NFT project y 00 ts: will be migrated to Polygon from March 27, and will be rewarded for completing the migration within 24 hours
Odaily News The NFT project y 00 ts said on Twitter that it will start migrating to Polygon on March 27th. Users can migrate directly from our official website, and will be rewarded for completing the migration within 24 hours. Gas fees will be provided by Magic Eden, and staking will also be free.
Odaily News The defunct Swerve Finance suffered a governance attack and has lost $1.3 million in stablecoins. The attack has lasted for more than a week. A governance attack is when a hacker controls enough voting power to execute a proposal aimed at stealing tokens from the protocol.

Swerve Finance Suffers $1.3M in Governance Attack

Odaily News The defunct Swerve Finance suffered a governance attack and has lost $1.3 million in stablecoins. The attack has lasted for more than a week. A governance attack is when a hacker controls enough voting power to execute a proposal aimed at stealing tokens from the protocol.

Investment and Financing

'WebAssembly' company Dylibso closes $6.6M seed round led by Felicis

'WebAssembly' company Dylibso closes $6.6M seed round led by Felicis

WebAssembly (wasm for short) is a virtual instruction set architecture (virtual ISA). The overall architecture includes the core ISA definition, binary code, definition and execution of program semantics, and application programming interfaces ( WebAssembly API).
WebAssembly (wasm for short) is a virtual instruction set architecture (virtual ISA). The overall architecture includes the core ISA definition, binary code, definition and execution of program semantics, and application programming interfaces ( WebAssembly API).

Blockchain real estate tech startup HouseAfrica raises $400,000

HouseAfrica provides real estate digitization and transparency tools to real estate developers and their clients. The company's flagship product Sytemap digitizes real estate project site maps using proprietary blockchain and map technology to create a private land registry. (Tech Economy)
HouseAfrica provides real estate digitization and transparency tools to real estate developers and their clients. The company's flagship product Sytemap digitizes real estate project site maps using proprietary blockchain and map technology to create a private land registry. (Tech Economy)

global policy

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global policy
FASB Proposes Specific Accounting Proposals for Crypto Assets
Odaily News The U.S. Financial Accounting Standards Board (FASB) has been working to develop standards for corporate asset portfolios that hold cryptocurrencies. This week, the FASB proposed a proposal to consider crypto accounting specifically, requiring it to be measured in terms of a digital asset’s price in the market and requiring companies to reflect fluctuations in value every time they file, both as gains and losses as quarterly company income. part of the report.

The proposal will be open for public comment until June 6. FASB Chairman Richard said the changes "will provide investors with greater transparency into the fair value of cryptoassets held by entities, as well as greater disclosure regarding the types of cryptoassets held and changes in those assets" .

Current accounting methods treat cryptocurrencies as intangible assets with indefinite lives, focusing only on assets that decline in value. It "does not reflect the underlying economic benefits of these assets and does not provide information useful for decision-making," the FASB argued. (Coindesk)
Venezuelan Crypto Regulator Is Shutting Down Cryptocurrency Exchanges, Mining Farms
While the major move has yet to be officially confirmed, the Venezuelan National Association for Cryptocurrencies says such moves are taking place as the country advances an anti-corruption investigation that has so far ousted Joselit Ramirez and his political protector, the Minister of Energy and Oil. Tareck el Aissami has been removed from office.

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Additionally, just before the crackdown, Sunacrip ordered the closure of large cryptocurrency mining farms operating in several Venezuelan states. (Decrypt)

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Former US SEC official: US has jurisdiction over Do Kwon case
U.S. law enforcement has jurisdiction over Singapore-based Terraform Labs and its founder Do Kwon because they knowingly marketed their LUNA to U.S. investors and terraUSD (UST) tokens.

Lisa Braganca said, “The basis of the SEC is that Do Kwon and these people are reaching out to American investors, whether they are in the United States or not. They are obtaining investment funds in the United States, and they are frankly targeting American investors.”

Terraform Labs founder Do Kwon has been charged with forgery in Montenegro and will appear in court later Friday for extradition proceedings, it was previously reported. Do Kwon has been on the run after the collapse of stablecoin TerraUSD. Montenegro police were quoted by Agence France-Presse as saying that "criminal proceedings have been filed against the two persons, charging them with criminal forgery of documents". It was not immediately clear which country the extradition request came from.
Former Coinbase CTO: Hope Bitcoin Can Become the New Global Reserve Currency

Odaily News Coinbase former CTO Balaji Srinivasan tweeted that perhaps historical experience tells us that in times of excessive stress, investors will buy assets denominated in US dollars, but in the longer term, people will stay away from constant depreciation Now it is different from 2008 (with Bitcoin), the US dollar is no longer a currency that is too big to fail, and I hope that Bitcoin can take over the US dollar (become the new global reserve currency).

Previously, Balaji had tweeted that he would place a $2 million bet that Bitcoin would hit the $1 million price point within 90 days.