| Musk Denies Owning Dogecoin’s Whale Wallet; Huang Licheng Sues On-Chain Detective ZachXBT for Defamation (June 19)

headlines

headlines

Musk Denies Owning Dogecoin Whale Wallet

Odaily News In June last year, Elon Musk received a class action lawsuit for insider trading. The lawsuit accused him of participating in Dogecoin’s “pump-and-dump” activities and harming retail investors. It is also part of his alleged plan to change the logo of Dogecoin from the blue bird to the Dogecoin logo. However, according to the latest letter from Musk’s lawyer Alex Spiro, obtained by The New York Post, he argued that Musk is not the so-called “DOGE whale” as the plaintiff said, and stated in a written communication to the plaintiff’s lawyer that Musk The allegation of owning specific wallets is "baseless," he said: "The sole basis for your assertion is that these wallets sold Dogecoin at a time when the price was increasing, according to the 3rd Amended Complaint." (bitcoin.com)

Binance.US reaches agreement with SEC to transfer US customer funds and wallet keys back onshore
Odaily News Binance, Binance.US and the US SEC announced an agreement to ensure that only Binance.US employees can access customer funds. The proposed agreement still needs to be signed off by a federal judge overseeing the case.
Under the proposed agreement, Binance.US will take steps to ensure that no Binance Holdings (referring to the global exchange) official can access the private keys of its various wallets, hardware wallets, or root access to Binance.US’ Amazon Web Services tools. Additionally, the U.S.-based cryptocurrency trading platform will share details about its business spending, including estimated costs, in the coming weeks.

The proposed agreement is in response to the US SEC’s motion to freeze all Binance.US assets. The SEC said it was concerned that funds could be transferred overseas or records destroyed if a Temporary Restraining Order (TRO) was not obtained. (CoinDesk)

Licheng Huang Sues On-Chain Sleuth ZachXBT for Defamation as He Raises $1M Donation to Pay Legal Fees
Odaily News "MachiBigBrother" Huang Licheng (MachiBigBrother) sued the chain detective ZachXBT. ZachXBT issued a document last year claiming that Huang Licheng had embezzled 22,000 ETH project funds.
The lawsuit, filed Friday in the U.S. District Court for the Western District of Texas, accuses ZachXBT of defaming Huang and causing him "serious reputational and monetary damages." Huang Licheng's lawyer stated in the complaint that ZachXBT not only continued to publish his defamatory articles on Medium, but also maliciously promoted this to more than 300,000 Twitter followers Article.

In this regard, ZachXBT tweeted that Huang Licheng's lawsuit against him is groundless, and he will fight back to defend freedom of speech. ZachXBT has appealed to supporters to donate money to support its legal defense, saying it expects to "easily incur more than $1 million" in costs. Addresses starting with 0x 6 eA 1 have raised over $400,000 in fees so far.

On-chain detective ZachXBT has received over $1 million in donations

According to Nansen data from Odaily, on-chain detective ZachXBT has received more than $1 million in donations, up to $1,000,203.46 at the time of publication. Donors include Binance, encrypted media Bankless, Coinbase Cloud protocol leader Viktor Bunin, encrypted security company CertiK, Cosine, Justin Sun et al.

Huang Licheng: All compensation received in the lawsuit against ZachXBT will be donated to charity
Odaily News "Machi Big Brother" Huang Licheng (MachiBigBrother) tweeted, I just hoped (ZachXBT) to apologize. Any monetary compensation I receive, I donate to charity.
According to yesterday’s news, Huang Licheng sued the chain detective ZachXBT. ZachXBT issued a document last year claiming that Huang Licheng had embezzled 22,000 ETH project funds.
The lawsuit, filed Friday in the U.S. District Court for the Western District of Texas, accuses ZachXBT of defaming Huang and causing him "serious reputational and monetary damages." Huang Licheng's lawyer stated in the complaint that ZachXBT not only continued to publish his defamatory articles on Medium, but also maliciously promoted this to his more than 300,000 Twitter followers Article.
Addresses starting with 0x 6 eA 1 have received close to $1 million in donations ($998,434.37 at press time), according to Nansen data. Donors include Binance, encrypted media Bankless, Coinbase Cloud protocol leader Viktor Bunin, encrypted security company CertiK, Cosine, Justin Sun, etc.

Industry news

Industry news

Bitwise Files with US SEC to Amend Proposed Bitcoin ETP Trust Rules
Odaily News Bitwise Asset Management has submitted a new application document to the US SEC on June 16, requesting to amend the rules to accommodate its planned Bitwise Bitcoin ETP Trust.
The U.S. SEC rejected Bitwise’s application for a bitcoin spot ETF in June 2022, arguing that the ETF could not achieve sufficient supervision and sharing, nor could it provide protection against market manipulation and prove that the relevant market was large.

In the new filing, BitWise said the US SEC should have 45-90 days to approve, reject or initiate other processing around its proposed rule change. It is reported that the application was issued by the New York Stock Exchange (NYSE), but has not yet been processed by the US SEC, which means that the actual deadline for the relevant application is not yet known. (Cryptoslate)

Tether issued $11.6 billion in loans between June 2019 and May 2021
Odaily News According to relevant documents released this week by the New York State Attorney General's Office, stable currency issuer Tether issued $11.6 billion in mortgage loans between June 2019 and May 2021. Of the 694 loans, 89% had Bitcoin as collateral and 9% had Ethereum as collateral. The remaining 2% is collateralized with Tether Gold (XAUT) and other securities. Tether has received a total of 450,000 Bitcoins and 1.1 million Ethereums in collateral.

The documents also show that Tether repaid $8 billion in loans during this period. In December 2022, Tether stated that it will reduce the collateralized and overcollateralized loans in its reserves to zero during 2023. (The Block)

Delio announced that it will resume withdrawals in stages, and has not disclosed the specific repayment period and method, etc.
Odaily News The encrypted financial company Delio announced that it will resume withdrawals in stages, but did not disclose the specific repayment period, method and loss amount.
On June 17, Delio CEO Jeong Sang-ho said at an investor briefing, "Currently Delio is in an unstable state because it depends on the situation of Haru Investment and B&S. I understand that Haru Invest is going through bankruptcy proceedings. We will Secure as much compensation capital as possible, such as a third-party paid-in capital increase.” However, Jeong did not disclose the specific repayment time.
Encrypted payment company Wyre will be shut down one by one, users need to withdraw assets before July 14

Encrypted payment company Wyre will be shut down one by one, users need to withdraw assets before July 14

Odaily News Encrypted payment company Wyre tweeted that the company is gradually closing down. Wyre said the decision was taken to protect the best interests of key stakeholders and customers due to market conditions. This decision was not due to any direction from any regulatory agency. Wyre continues to safeguard customer assets.
Odaily News Encrypted payment company Wyre tweeted that the company is gradually closing down. Wyre said the decision was taken to protect the best interests of key stakeholders and customers due to market conditions. This decision was not due to any direction from any regulatory agency. Wyre continues to safeguard customer assets.

If users have assets on the Wyre platform, they can withdraw the relevant assets through Wyre's dashboard before July 14, after which there will be a separate process to reclaim assets remaining on the platform.

Odaily News According to PieDun detection, Midas Capital was hacked and caused a loss of more than 600,000 US dollars. The situation of Hundred Finance was also exploited in the previous attack.

Project News

Project News

Cosmos Hub Community Proposes Early Hiring of Lawyers for Potential Regulatory Impact

Odaily News After the US SEC sued Binance and Coinbase, the Cosmos Hub community has drafted a proposal to hire a lawyer as a potential preventive measure. The move is due at least in part to the SEC’s classification of the Cosmos Hub’s native token, ATOM, as a security.

Polygon puts forward initial ideas about "system smart contract governance", including the establishment of an ecosystem committee, etc.

Odaily News The Polygon community put forward a preliminary idea about "system smart contract governance", which attempts to propose a potential future decentralized, community-controlled ecosystem committee security model, which can solve the current problems by using decentralized and permissionless governance. There is a need for contract upgradeability (eg ZK Rollup) in the upcoming Polygon protocol. The goal is to introduce community checks on contract upgradability while retaining the necessary safety guarantees to enable further development of the Polygon protocol.

Cole, the co-founder of the NFT project Pudgy Penguins, tweeted that he has officially restored the ownership of his Twitter account. He explained: "My account was hacked on June 5th and the hackers took control of my mobile number through a SIM swap attack. All tweets and DMs since June 5th were from the hackers, not me... I can confirm that there is no such thing as an IGLOO token, everything associated with it was created by the same hacker who broke into my account. Since Pudgy Penguins was acquired last year, I am no longer affiliated with the company in any way.”

Investment and Financing

Investment and Financing

Crypto fund DBA Crypto cuts target to $150 million from $500 million

Odaily News According to a document submitted to the US SEC in June and two sources familiar with the matter, the cryptocurrency fund DBA Crypto is still working hard to launch.
The institutionally-oriented investment startup had previously sought to raise at least $500 million in outside funding and aimed to launch in late 2022 or early 2023. Three of the core employees have moved to other encryption companies. Sources at the time said the DBA was in advanced talks with potential anchor investors, but its plans didn't pan out.
The latest SEC filing shows that DBA Crypto has cut the total target fundraising for its fund from $500 million to $150 million, with both onshore and offshore versions of its flagship DBA Crypto Fund 1 targeting $75 million.
Lim later joined another cryptocurrency firm, Barratt, in April as an algorithmic trader at Tower Research Capital, according to sources. Meanwhile, the LinkedIn page shows that Patel became a partner at Hack VC in February this year. (Blockworks)

TapiocaDAO, a full-chain money market protocol, completed a $6 million seed round of financing, with participation from LayerZero Labs and others

Odaily News TapiocaDAO, a LayerZero-based full-chain money market protocol, announced the completion of a $6 million seed round of financing. Fisher 8 Capital, LayerZero Labs, PARC Capital, Jones DAO, Dewhales Capital, Magnus Capital, Capybara Capital, and individual investor Library Onchain founder Zoomer Oracle, Squirrel (Arrakis Finance), DCF GOD, redphone, vf.at, Captain Rational, hedgedhog, etc. participated in the investment.
It is reported that TapiocaDAO utilizes L0 technology to support any EVM and non-EVM chains. Users can stake assets on one chain and borrow assets on another chain without transferring assets between chains. In addition, TapiocaDAO launched LayerZero-based full-chain over-collateralized stablecoin USDO.

It is reported that TapiocaDAO utilizes L0 technology to support any EVM and non-EVM chains. Users can stake assets on one chain and borrow assets on another chain without transferring assets between chains. In addition, TapiocaDAO launched LayerZero-based full-chain over-collateralized stablecoin USDO.

Odaily News Yves La Rose, founder and CEO of the EOS Network Foundation, tweeted that EOS Network Ventures (ENV) had promised to invest 20 million US dollars in the EOS EVM and GameFi projects a few months ago, and will officially announce the first round in the next few weeks ENV investment, totaling approximately $5.4 million.

DeFi Protocol Concordia Closes $4M Seed Round Led by Tribe Capital and Kraken Ventures

Earlier this month, Concordia launched a public testnet on Aptos. The mainnet is expected to go live in the next few months. Concordia will also launch on other chains. (CoinDesk)
Earlier this month, Concordia launched a public testnet on Aptos. The mainnet is expected to go live in the next few months. Concordia will also launch on other chains. (CoinDesk)

global policy

global policy

SEC Enforcement Chief: The Entire Encryption Industry Is "Built On Non-Compliance," That's Why Enforcement Actions

Odaily News SEC Enforcement Director Gurbir Grewal said in a recent event speech that the Commission has been "thoughtful and progressive" in handling actions related to the encryption space, but this approach has failed to address what the regulator considers unregistered securities offerings. question.

“Even if you come up with a specific set of rules, the ethics of the industry as a whole is predicated on non-compliance,” Grewal said. “Normally, you see compliance, but in this space we Didn’t see it, so we had to change tactics.” (Cointelegraph)

Chen Maobo, Financial Secretary of Hong Kong: In the past year, Cyberport has accumulated more than 150 Web3-related companies.
Odaily News Hong Kong Financial Secretary Chen Maobo issued a document saying that promoting the development of innovative technology is a key task for the government to intensify its efforts. The National 14th Five-Year Plan clearly gives Hong Kong the positioning and mission of building an international innovation and technology center, promoting industrial upgrading, transformation and diversified development through innovation and technology is the only way for Hong Kong to move towards high-quality development, and it also helps the country to accelerate the realization of high-level technological self-reliance Self-improvement and speed-up to realize Chinese-style modernization development. The development of innovation and technology is the core issue of Hong Kong's future development.
Chen Maobo said that Cyberport’s Qike ecosystem is also growing rapidly. There are currently more than 1,900 companies. The cumulative financing of start-ups has exceeded 35.7 billion yuan, and they have more than 480 intellectual property projects. One of the companies in the Cyberport community became the second virtual asset trading platform in Hong Kong to be licensed by the Securities and Futures Commission last year.

On the other hand, the "Financial Budget" has allocated 50 million yuan for Cyberport to accelerate the development of the third-generation Internet Web3.0 with blockchain as the underlying technology. In the past year, Cyberport has accumulated more than 150 related companies. , I believe it will bring more R&D and application innovations to this development.

Indonesian futures trading supervisory agency updates the list of encrypted assets, tradable assets reach 501
It is reported that users can trade on the encrypted trading platform licensed by Bappebti. There are currently 501 types of assets available for trading, including BTC, ETH, and LTC, SOL, ADA, XRP, DOT, SAND, and UNI that have been judged as securities by the US SEC. wait.

character * voice

character * voice

Founder of Uniswap: BUSL is the best choice for the community. If UNI holders disagree, they can change to GPL through governance voting
Odaily News Uniswap founder Hayden Adams tweeted that for the v4 license, I hope to apologize to anyone who is disturbed by the use of the term "open source" for Uniswap. The word "source available" More precisely.
Adams said that in his personal opinion: BUSL is the best choice for the Uniswap community; BUSL, which provides a GPL change date, is quite different from other proprietary licenses and is closer to open source; fully understands some people who disagree with the above; if UNI holds Those who disagree can change to GPL at an earlier date through the v4-core-license-date.uniswap.eth governance vote.

Contributing to the BUSL code is free for participants, and participants who think they can make a significant contribution but want to be paid can try to apply for a grant. Building V4 publicly is definitely better for the ecosystem and all projects built on top of it.

CZ: "Binance Nigeria Limited" is a fraudulent entity and has issued a suspension notice

Odaily news Binance founder CZ tweeted that Binance has issued a notice to the fraudulent entity "Binance Nigeria Limited" to stop operations, and reminded users not to believe the relevant information they saw in the news.

Coinbase Chief Legal Officer: Court Should Force SEC to Respond to Coinbase Petition

Odaily News Coinbase Chief Legal Officer Paul Grewal tweeted, "We can't wait until next week's deadline for the U.S. SEC to respond to the Third Circuit's order on June 6. It is unusual for the government to refuse direct inquiries from federal courts. The court should now grant an executive order because the SEC has decided not to grant Coinbase’s rulemaking petition and is actively harming the industry. The SEC’s refusal to say how long it will take to act on Coinbase’s petition confirms that further delays are Futile. The court should order the SEC to report its action within 60 days, and if the SEC has not acted by then, the court should promptly rule on the enforcement order."

Analysis: The Bitcoin Trust applied by BlackRock's iShares is completely different from the grayscale GBTC
Odaily News The iShares department of the fund management giant BlackRock submitted the application documents for the iShares Bitcoin Trust to the US SEC on Thursday afternoon. The proposal’s name and other details have sparked some confusion among industry experts as to whether BlackRock is applying for an ETF or a trust similar to the attributes of the Grayscale Bitcoin Trust (GBTC).
Crypto is Macro Now editor Noelle Acheson said BlackRock’s proposal is technically a trust, but it’s a trust that allows redemptions, so it functions like an ETF. In this sense, the iShares product is completely different from GBTC which has no redemption mechanism.