| The draft of the US encryption bill is suspected to be leaked; Celsius lost 35,000 ETH (June 8)
headlines
Draft U.S. Encryption Bill Suspected to Be Leaked, DAOs, Exchanges, and Stablecoin Providers Must Become Registered Entities
A group of files with the "EMBARGOED" watermark began circulating on social media late Monday. The document is said to be a draft U.S. cryptocurrency bill.
To begin with compliance, DAOs, exchanges and stablecoin providers must become registered entities, the documents show. If not registered, they are said to be taxed. Many securities laws have been redefined and many assets have been reclassified as commodities governed by the CFTC. Among all the provisions, the most prominent one is that if there is any debt, equity, profit income or dividends of any kind, then the underlying asset will no longer be marked as a digital asset commodity.
Bloomberg: US SEC is investigating whether BNB tokens are unregistered securities
The U.S. Securities and Exchange Commission (SEC) is investigating whether Binance violated securities rules. The U.S. SEC is reviewing whether Binance’s BNB token is an unregistered securities offering, people familiar with the matter said. Binance conducted an ICO in July 2017, and the exchange raised a total of $15 million.
Another source said the SEC is also looking at market maker firms owned or partially owned by Binance CEO Changpeng Zhao, who the regulator wants to know about Changpeng Zhao’s ownership of Binance.US and whether Binance.US has launched a broker-dealer One of the SEC's priorities is whether Binance.US is completely independent from Binance Global Exchange and whether employees may be involved in insider trading. It is reported that Binance emphasized that Binance.com and Binance.US "are independent entities" and that the former is only applicable to non-US users.
Telegram's official response: Malicious tweets have "all the hallmarks of a hoax"
Previously, the Twitter user claimed to have downloaded more than 100GB of historical messages using a vulnerability in the Telegram software, including the "dark" chat content of encrypted influencers between December 2019 and February 2022, and will download it on June 15. announced. (The Block)
cryptocurrency
Celsius Network lost at least 35,000 ETH in the Stakehound private key loss event
The cryptocurrency lending platform Celsius Network lost at least 35,000 ETH (single transaction) in the 2021 Ethereum 2.0 pledge solution Stakehound private key loss event. Celsius currently holds at least 42306 Stakehound stETH in total (multiple transactions), making it almost the largest owner of Stakehound stETH. According to the current ETH price, the loss is about 71 million US dollars.
Regarding this issue, Optimism reflected that the problem was that it greatly underestimated the traffic that the airdrop would generate, only to find out afterwards that the capacity of the public endpoint needs to be increased by 7 times. Lessons learned include: regularly performing load tests, replacing airdrops with over-provisioning, requiring partners to scale capacity ahead of time, prioritizing concurrent batch commits, etc.
The official Optimism author reflected on the high load in the OP airdrop that caused severe delays in the mainnet and remote procedure calls (RPC), and stated that the internal team is working closely with partners and infrastructure providers to mitigate the problem and support all attempts Users accessing their tokens provide claims.
Regarding this issue, Optimism reflected that the problem was that it greatly underestimated the traffic that the airdrop would generate, only to find out afterwards that the capacity of the public endpoint needs to be increased by 7 times. Lessons learned include: regularly performing load tests, replacing airdrops with over-provisioning, requiring partners to scale capacity ahead of time, prioritizing concurrent batch commits, etc.
Optimism says it is currently subsidizing the ecosystem's reliance on public endpoints to get out of the endpoint business, reducing additional vendors and redundant services. If you encounter similar problems again, you will quickly update the status page within a few minutes, and gain community trust through timely and transparent communication.
Pitango, Israel's top venture capital institution, launches investment DAO, plans to issue tokens
Pitango, Israel's top venture capital firm, has launched a decentralized autonomous organization (DAO) to invest in Web3 projects.
It is reported that Pitango's fund is called "Pitango First", has launched First Labs, and created a decentralized autonomous organization called "First DAO".
Community members have speculated that the Shibarium testnet, Shiba Inu's (SHIB) second-layer scaling solution, may be launched in June. Shytoshi Kusama, the chief developer of SHIB, recently posted a GIF animation on Twitter with the text "laughter in Shibarium", triggering this conjecture.
The public chain project Aptos publishes a paper introducing its research methodology and vision
The public chain project Aptos released the article "Aptos Research Vision: Frontier Research Meets World-Class Engineering", introducing how Aptos conducts research. Aptos begins by identifying the pain points preventing it from achieving performance, security, and usability in the Aptos blockchain and its surrounding ecosystem; then focuses on addressing these issues, tracking work progress all the way to drive significant production impact; at the top Venues such as blogs, talks and workshops publish and celebrate the results achieved.
Shibarium, the SHIB Layer 2 expansion solution, may launch a testnet in June
Community members have speculated that the Shibarium testnet, Shiba Inu's (SHIB) second-layer scaling solution, may be launched in June. Shytoshi Kusama, the chief developer of SHIB, recently posted a GIF animation on Twitter with the text "laughter in Shibarium", triggering this conjecture.
Additionally, a blog post from the team states that transactions will be “approved in seconds and cost pennies.” Shytoshi Kusama confirmed in the Shiba Discord, "Shibarium will offer low fees (standard) for every service, game, or anything built on top of it." (Beincrypto)
Terra ecological cross-chain stablecoin bank Orion Money will gradually close the project
Merit Circle DAO proposes to buy out YGG's shares at 10 times the price of YGG's previous purchase of MC tokens
GameFi and NFTs
NFT infrastructure service provider Project Galaxy launched the first community proposal vote. This vote will select 9 community treasury multi-signature administrators from 24 candidates. According to the previous GAL Token economics, the Galaxy DAO treasury owns 20% of the GAL supply and has the right to distribute it through community proposals.
The responsibility of the multi-signature management team of the treasury is to review the community proposals that have been voted through, and to ensure that the GAL is distributed according to the content of the proposal. Any transfer of the treasury requires at least 6 of the 9 members to sign and pass it.
The Merit Circle DAO community of the blockchain game association released a voting proposal for the recently passed proposal to revoke YGG’s seed round token distribution, showing that it is recommended that Merit Circle DAO buy out Yield Guild Games (YGG) and Nifty Fund at a price of $0.32. Allocated, a total of 5,468,750 MC tokens totaling $1.75 million. The parties will sign a legal agreement to legally enforce the tender offer and protect both parties from future litigation. As of now, MC is quoted at $1.12. The deadline for voting is 15:58 on June 9. YGG and YGG co-founder Gabby Dizon’s personal fund Nifty Fund previously invested a total of US$175,000 in Merit Circle at a price of US$0.032, receiving a total of 5,468,750 MC tokens.
STEPN: Most of the problems caused by DDOS attacks have been solved
Hyundai Card, a subsidiary of South Korea's Hyundai Motor Group, has partnered with Fashionable Lion, a coding education startup. The two companies plan to establish a joint venture company Modern Lion in the second half of the year, which will establish an NFT exchange and launch an encrypted wallet service. (Hankyung)
Investment and Financing
People familiar with the matter: BlockFi is raising a new round of financing at a $1 billion valuation
Encrypted exchange Pintu completes $113 million in Series B financing, with participation from Lightspeed and others
Pintu, an Indonesian cryptocurrency exchange, has completed a US$113 million Series B round of financing. Investors include venture capital institutions Intudo Ventures, Lightspeed Venture Partners, Pantera Capital, and investment consulting firm Northstar Group.
DeFi lending protocol Euler Finance completes $32 million in financing, led by Haun Ventures
DeFi lending protocol Euler Finance completes $32 million in financing, led by Haun Ventures
Euler Finance, an Ethereum-based DeFi lending agreement, announced the completion of $32 million in financing, led by Haun Ventures, with participation from Variant, FTX Ventures, and Jump Crypto.
Euler Finance, an Ethereum-based DeFi lending agreement, announced the completion of $32 million in financing, led by Haun Ventures, with participation from Variant, FTX Ventures, and Jump Crypto.
Encrypted social platform Calaxy completes $26 million in financing, led by Animoca Brands and HBAR Foundation
Calaxy, an encrypted social platform founded by NBA star Dinwiddie, announced the completion of $26 million in financing, led by Animoca Brands and HBAR Foundation, and participated by Polygon.
It is reported that Calaxy will build a user-oriented social platform based on the underlying blockchain technology. Fans can establish contact with well-known creators through video messages, online courses, video calls and fan club subscriptions. Content subscriptions can use Calaxy’s native Token CLXY buys. (CoinDesk)
Blockchain agricultural technology company Agrotools completed $21 million in financing, KPTL and others participated in the investment
Ledgible, an encrypted taxation and accounting platform, announced the completion of a $20 million Series A financing, led by EJF Silvergate Ventures Fund under EJF Capital, with participation from JAM FINTOP, Thomson Reuters Ventures, TTV Capital, Fenbushi US, Commerce Ventures, Nathan McCauley, and Perkins Coie.
Ledgible, an encrypted taxation and accounting platform, announced the completion of a $20 million Series A financing, led by EJF Silvergate Ventures Fund under EJF Capital, with participation from JAM FINTOP, Thomson Reuters Ventures, TTV Capital, Fenbushi US, Commerce Ventures, Nathan McCauley, and Perkins Coie.
It is reported that the Ledgible encrypted tax and accounting platform supports the integration across major blockchains, cryptocurrency trading platforms, wallets and professional accounting tools, can determine encrypted taxes and accounts, and provide this data to professional tax reporting systems and general ledger accounting systems. Ledgible will use the investment to expand its product line and expand its team to support additional institutional partners and accounting firms. (Prnewswire)
African cross-border encrypted money transfer app EverSend plans to raise $15-20 million
The new funds will be used for ApolloX to add more features to its trading service and build product lines such as spot trading. Additionally, ApolloX will start moving to DAO autonomy.
Vybe Network, Solana's ecological data infrastructure solution, announced the completion of a $10.5 million Series A round of financing, led by FTX Ventures, with participation from Sino Global Capital, Staking Facilities, Serum, Panony, Tess Ventures, Contango, Canonical Crypto Fund, and EBT Group.
It is reported that Vybe will use the raised funds to promote the decentralization of data access and storage, allowing any user to participate in the network, share and monetize data. (Prnewswire)
According to official news, MachineFi Lab, the core developer of the Internet of Things public chain IoTeX, completed a $10 million seed round of financing, led by Samsung Next, Draper Dragon Fund, and Jump Capital, Hashkey Capital, IOSG Ventures, Escape Velocity, Goodwater Capital, Xoogler Ventures, Wemade , Hanwha, Alpha Grep, DHVC, Vista Lab, Ribbit Angel Fund, NewBuild VC, etc. participated in the investment. Funding will fuel MachineFi Lab's global machine sharing economy platform. The platform will facilitate economic incentives for people to contribute their resources of intelligent machines and devices and their real data to the network.
Cryptio, an institutional-grade encryption accounting platform, completed a $10 million Series A round led by Point Nine, with participation from BlueYard Capital, Alven, CoinShares, Avantgarde Finance, Protocol Labs, and Draper Associates. Funds from this round of financing will be used for recruitment, product development, etc.
It is reported that the establishment of the Cryptio accounting and reporting platform aims to help financial institutions, companies and encryption-native enterprises create auditable records from DeFi, custody and transaction data for accounting and tax reporting. The data it collects can be connected to a client's traditional accounting software, such as Xero or QuickBooks. (CoinDesk)
Web3 Startup Navigate Completes $7.6M Seed Round Led by Distributed Global
Navigate, a Web3 start-up company, has completed a $7.6 million seed round of financing, led by Distributed Global, Kraken Ventures, Outlier Ventures, and British hedge fund billionaire Alan Howard.
Navigate lets its users share data and earn crypto rewards through its native NVG8 token. (The Block)
Encrypted payment platform Mash completes $6 million in seed round financing, led by Castle Island Ventures and Whitecap Venture Partners, Maple VC, Strategic Cyber Ventures, Aquanow, Spacecadet Ventures, Amjad Masad, Balaji Srinivasan, Austin Hill, John Pfeffer, Dean Skurka, etc. Participate in voting. It is reported that Mash technology is based on Bitcoin and Lightning Network. The financing will be used to build and commercialize its Bitcoin and Lightning Network payments platform; grow its team in engineering, marketing, sales, and business development; and execute its go-to-market strategy. (Business Wire)
NFT game development company Oxalis Games completes $4.5 million in financing led by Blocore
British NFT game development company Oxalis Games announced the completion of US$4.5 million in financing, led by Blocore, Finnish game giant Supercell, Animoca Brands, Griffin Gaming Partners, Ian Livingstone and Jagex CEO Phil Mansell participated in the investment.
It is reported that Oxalis Games was co-founded by Ric Moore, former co-founder of Bossa Studios and The Secret Police, and ina Nelson, a former Star Wars employee. They hope to create the next generation of encrypted games that are fun first, raise the bar in terms of quality and user experience, and use NFT to do some pioneering work that has never been seen before, and then redefine people's perception of encrypted games. (Blockchain gamer)
Metaverse platform Bizverse World completes US$1.5 million strategic round of financing
Metaverse platform Bizverse World has completed a US$1.5 million strategic round of financing, with participation from DeFi Asia Capital (a subsidiary of SoftBank Group), Linkcube Ventures, and DeproLabs. The funds raised will be used to help Bizverse improve innovation in 3D, VR/AR and digital twin technologies, expand to the ecosystem and solve real-world problems.
It is reported that Bizverse World is constructed based on the 3D map of the natural world based on the "digital twin" and "meta-economy" models to develop the digital economy and digital society. With the assistance of VR/AR technology, blockchain and Web3, the platform aims to develop new business channels and digital environments for enterprises, allowing users to carry out construction activities similar to the real world. (Prnewswire)
According to Binance’s official blog, the decentralized exchange ApolloX completed its seed round of financing, with participation from Binance Labs, Kronos Research, Lingfeng Capital, SafePal, Token Pocket, 3Commas, and LUX Capital. The specific financing amount was not disclosed.
The new funds will be used for ApolloX to add more features to its trading service and build product lines such as spot trading. Additionally, ApolloX will start moving to DAO autonomy.
global regulation
Senators from both parties jointly released the latest encryption regulatory draft
U.S. Senators Cynthia Lummis (R-Wyo.) and Kirsten Gillibrand (D-N.Y.) released the crypto bill, which would exempt small-scale purchases of goods and services from tax implications by exempting all transactions under $200 from taxation. liberated. The bill favors the CFTC as the primary regulator and removes tax concerns about purchasing goods with cryptocurrencies. The bill also requires companies raising funds through digital asset sales to disclose certain information to the SEC.
South Korea to Unify Token Listing and Delisting Standards on Crypto Exchanges
Central Bank of Ethiopia: Trading in Cryptocurrencies Illegal
The National Bank of Ethiopia (NBE) clarified in a recent statement that transactions using bitcoin or other cryptocurrencies remain “illegal.” Citizens are encouraged to continue transacting in Ethiopian birr.
Hedge fund manager Paul Tudor Jones said last month that central banks will do everything in their power to prevent bitcoin adoption given the threat it poses to their institutions. (Cryptopotato)
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Binance: Cryptocurrency is more transparent than cash, has discussed with multiple law enforcement agencies on combating fraud, etc.
Binance issued a response to the Reuters report, saying that the Reuters article was full of lies, a lot of jumping conclusions, and relied on poor data that could have been obtained by contacting a major on-chain analysis company (such as Chainalysis or TRM). Do a fact check.
Chainalysis data shows that in 2021, 0.15% of all transactions using cryptocurrencies will be related to some type of illegal activity, and the United Nations estimates that 2% to 5% of traditional fiat currencies (cash) (approximately 800 billion to 2 trillion U.S. dollars) ) is associated with some type of illegal activity. It is well documented that cryptocurrencies are very transparent, much more so than the traditional cash economy.
Justin Sun said that TRON DAO Reserve transferred 100 million USDT to Binance to buy more BTC and TRX as reserves.
It is reported that TRON DAO Reserve is the custodian of TRON's ecological algorithm stablecoin USDD, which stabilizes USDD price and decentralization through the pledge of reserve assets.
FatMan: TFL has more than 42 million LUNAs, worth more than 200 million US dollars
Terra community researcher FatMan tweeted that Do Kwon has repeatedly stated that TFL does not hold the new LUNA tokens, making Terra 2 "owned by the community", which is a complete lie. In fact, TFL has more than 42 million LUNAs, worth more than 200 million US dollars, they are talking nonsense.
