headlines

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headlines
a16z Publishes Web 3 Policy Proposals for Global Governments
a16z released a policy agenda for governments around the world on Friday, containing 10 guiding principles on how to "build a better internet".
In this agenda, a16z encourages world leaders to actively think about Web 3 policy, starting with establishing a clear vision, providing clear and fair tax rules applicable to digital assets, embracing multi-stakeholder governance, and more."Additionally, the policy agenda recommends that global leaders “accept well-regulated stablecoins” and provide a clear regulatory framework for private stablecoin projects."In October last year, a16z released a similar 35-page report to US lawmakers called

how to win the future

, and made recommendations to the Senate Banking Committee on clarifying laws related to digital assets. (CoinDesk)
The Ethereum fork Bellatrix will merge the current chain with the new PoS beacon chain, which is expected to be implemented in June 2022 and will open the beacon chain pledged ETH withdrawal in December

Superphiz, a community security consultant for the Ethereum beacon chain, said that Bellatrix, a fork of Ethereum, will merge the current chain with the new PoS beacon chain. The fork will not enable withdrawals from the beacon chain, which is expected to enable pledged ETH withdrawals approximately six months after the merger. Post-merger, traditional GPU mining will no longer take place on Ethereum, instead, the network will be secured by Proof-of-Stake (PoS) validators who will begin receiving transaction fee rewards upon merger.

According to previous news, Jay Chou's trendy brand PHANTACi released the Phanta Bear series NFT on the Ezek platform.
According to previous news, Jay Chou's trendy brand PHANTACi released the Phanta Bear series NFT on the Ezek platform.

cryptocurrency

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cryptocurrency
WisdomTree Adds Bitcoin Futures Exposure to Its Managed Futures Strategy ETF
WisdomTree, an asset management company with more than $76 billion in assets under management, announced the addition of BTC futures exposure to its managed futures strategy ETF focused on commodities. A month earlier, the U.S. SEC rejected WisdomTree’s bitcoin spot ETF application, which the company later resubmitted.

Last fall, WisdomTree said it planned to add 5 percent to its exposure to bitcoin futures in its managed futures strategy fund, which launched in 2011 and has about $164 million in assets. The firm has now added about 1.3 percent to its allocation to bitcoin futures contracts. The fund has no plans to invest directly in bitcoin.

It’s not the first time WisdomTree has offered exposure to bitcoin futures in its funds. In October, the firm added a 3 percent allocation to bitcoin futures in its Enhanced Commodities Strategy Fund (GCC).
PayPal is considering launching its own stablecoin as the company’s cryptocurrency business grows, a PayPal spokesperson confirmed Friday. Sources revealed in September last year that PayPal subsidiary Curv is actively developing a stablecoin.

Polygon Hermez is developing zkEVM and plans to launch the mainnet in Q2 2022

“We are exploring a stablecoin; we will of course work closely with relevant regulators if we seek to move forward,” a PayPal spokesperson said in an emailed statement.

Polygon Hermez is developing zkEVM and plans to launch the mainnet in Q2 2022

Crypto exchange LCX was hacked, and the loss may exceed $6 million
According to the LCX and hacker addresses published by Paidun, the address marked "LCX 2" has successively transferred dozens of assets such as ETH and LCX to the hacker address starting with "0x1654" since 6:29 Beijing time. The assets have been sold as ETH and transferred through Tornado.Cash, and the cumulative loss value may exceed 6 million US dollars.
According to the LCX and hacker addresses published by Paidun, the address marked "LCX 2" has successively transferred dozens of assets such as ETH and LCX to the hacker address starting with "0x1654" since 6:29 Beijing time. The assets have been sold as ETH and transferred through Tornado.Cash, and the cumulative loss value may exceed 6 million US dollars.

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It is reported that LCX obtained 8 of the 11 encryption-related licenses in Liechtenstein in January 2021, making LCX a regulated encryption exchange, digital asset custody provider, price feed provider, and digital asset compliance provider , smart contract creator and token offering platform.

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The team improved on an existing technology known as Wrapped NFT, which was invented by a CK community developer (Kabciane) while leading CryptoKitties at Poopie.eth, including additional visual features and on-chain properties.

Doodles will allow users to mint Space Doodles for free in February

Doodles founder Poopie.eth tweeted that Doodles will allow users to mint Space Doodles for free in February. It's innovative and non-dilutive, meaning the team doesn't add more NFTs to the circulating supply. According to reports, a Space Doodle is supported by Doodle 1:1. At any time, there can only be one of them in the user's wallet, which can be wrapped/unwrapd at any time.
The team improved on an existing technology known as Wrapped NFT, which was invented by a CK community developer (Kabciane) while leading CryptoKitties at Poopie.eth, including additional visual features and on-chain properties.

Huang Licheng presented BAYC#3738 to Jay Chou

News OpenSea data shows that Huang Licheng (wallet address label is MachiBigBrother) recently presented BAYC#3738 to Jay Chou. After inquiry, the address of the recipient is 0x1087f515f7faae8b35045e91092ea8878b757849, and its collection includes the work of PHANTA BEAR #10000, which Jay Chou previously replaced on Instagram. The current BAYC floor price is 72 ETH.

Trendy artist Edison Chen posted the Phanta Bear NFT image for the first time on Instagram.

Trendy artist Edison Chen posted the Phanta Bear NFT image for the first time on Instagram.

global policy

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global policy

US Treasury May Clarify Cryptocurrency Broker Definition This Month

According to market news, the U.S. Department of the Treasury may clarify the definition of cryptocurrency brokers this month; guidelines will clarify who must report customer data to the Internal Revenue Service; cryptocurrency reporting requirements are included in the 2021 legislation. (Golden Ten)

Turkey's parliament to weigh new crypto bill, excludes 40% tax, wants central custodian bank to eliminate counterparty risk

A 40% tax on cryptocurrencies is not included in the cryptocurrency regulations that Turkey’s parliament is about to review, according to a senior government official. A legal framework aimed at prioritizing transparency, security and auditability of crypto exchange platforms will be presented to the Turkish parliament in the coming weeks, according to reports. The second priority of the framework is to create an appropriate financial environment for the growth of blockchain businesses. Mustafa Elitas, the parliamentary leader of the ruling Justice and Development Party (AKP), said that did not include the so-called 40 percent tax. The upcoming law will aim to regulate the native cryptocurrency system, prevent malicious behavior, protect investors and eliminate discontent. Parliament will have the final say on any proposed legislation. The government wants to create a central custodian bank to eliminate counterparty risk. (Be in Crypto)
RBI Creates Fintech Ministry to Address Crypto Industry Challenges and Develop CBDC
The new department will be overseen by Ajay Kumar Choudhary, who was appointed by the RBI as executive director and will be in charge of the fintech department, risk monitoring department and inspection department.

Investment and Financing

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Investment and Financing

a16z: A total of $9 billion will be raised in 2021

According to a regulatory document submitted to the US SEC, the Bitcoin Feeder Fund of hedge fund Pantera Capital has received US$63.7 million from 153 investors, up from US$18 million from 56 investors a year ago. Through the Bitcoin Feeder Fund, investors can participate indirectly in Pantera's Bitcoin Fund.

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V God: The future will be "multi-chain" rather than "cross-chain", and there are basic security restrictions for cross-chain bridges
On January 8, Vitalik Buterin, the co-founder of Ethereum, forwarded a link to a Reddit post on Twitter and commented that "the future will be 'multi-chain' rather than 'cross-chain'.
V God believes that "there are basic security limitations in cross-chain bridges", and further explained that he disagrees with the idea that all security mechanisms will fail when the blockchain suffers a 51% attack. Network mining hash rate or computing power to manipulate the integrity of transactions registered in the blockchain.
V God said that in the case of a 51% attack, the attacker cannot propose a block that takes someone's ETH, because such a block would violate the consensus rules and would therefore be rejected by the network. In other words, he believes that even if 99% of the computing power is used to illegally take ETH from another wallet, the node will simply follow the remaining 1% of the chain because it is the only block set that follows the rules of the protocol, so "Honest" blocks will always maintain state consistency.

Vitalik pointed out that the problem arises when users connect assets from their local blockchain to a non-native blockchain. He said: "If Ethereum is 51% attacked and recovered, Arbitrum and Optimism will also recover. So a 'cross-rollup' application that maintains state on Arbitrum and Optimism is guaranteed to remain consistent even if Ethereum is 51% attacked. If Ethereum is not 51% attacked, then a 51% attack cannot attack Arbitrum and Optimism respectively. "

V God concluded that he does not think these problems will appear immediately, but as the number of cryptocurrencies held in cross-chain bridges increases, the motivation to attack them will also increase.
AMD Vice President: Radeon RX 6500 XT is deliberately designed to be unsuitable for encrypted mining