headlines

headlines

He Yi: The "Recovery Plan" is advancing two relatively large transactions, targeting two trading platforms

Odaily News He Yi, co-founder and CMO of Binance and head of Binance Labs, participated in the "POW'ER 2023 Hong Kong Web3 Innovators Summit" online chat, and said that the $1 billion "recovery plan" is not a charity plan, but returns to business. She added that the "recovery plan" is currently advancing two relatively large transactions, targeting two trading platforms.

Odaily News The Ethereum Foundation research team will hold a Reddit AMA on January 11th at 1:00 pm UTC.

Industry news

Industry news

Tokenized venture capital fund SPiCE VC announces 2022 results, internal rate of return exceeds 50%

Odaily News Fully tokenized venture capital fund SPiCE VC has announced its 2022 results, delivering solid returns to its investors even as economic headwinds persist. SPiCE's internal rate of return (IRR), estimating the potential return on investment, exceeds 50%. Additionally, SPiCE's multiple on invested capital (MOIC) has increased by 6x, which is three times the average MOIC of VCs. SPiCE achieved an 82% paid-in capital distribution (DPI) for its investors over four years.

Nigeria's central bank plans to regulate stablecoins and ICOs
Odaily News The Central Bank of Nigeria (CBN) said in its recently published document that the bank will be open to developing a “regulatory framework for the potential implementation of stablecoins.” The document claims that such a stablecoin implementation is “likely to be a successful payment mechanism” and therefore “a regulatory framework needs to be developed for such implementation.”

In addition to mentioning the implementation of stablecoins, the document also discusses the creation of a framework to regulate initial coin offerings (ICOs). While acknowledging the key role ICOs can play, the document says regulation is needed if investor interest in this form of fundraising is to be revived. The document added that once a properly implemented regulatory framework is in place, ICOs could become "a new way of attracting foreign direct investment (FDI) and raising capital."

117 Financial Institutions Interested in Acquiring FTX Subsidiary Business for Sale
Recently, Kevin Cofsky, partner of Perella Weinberg, investment bank of FTX US and its affiliates, submitted a document to the court.
According to Kevin Cofsky, a total of 117 financial institutions around the world are interested in acquiring the four subsidiary businesses that FTX plans to sell, of which about 50 are interested in Embed, 56 are interested in Ledger, 41 are interested in FTX Japan, and 40 are interested in FTX Europe is interested. He added that debtors had signed 59 non-disclosure agreements with potential buyers.

According to previous news, the current FTX team requested the U.S. Federal Bankruptcy Court to auction the derivatives trading platform LedgerX, the stock clearing platform Embed, FTX Japan and FTX Europe, which are subsidiaries of FTX, early next year.

Hedge Fund Saba Capital Has Added Bitcoin to Its Fund Portfolio
Odaily News Saba Capital, a hedge fund company that manages $10 billion in assets, added Bitcoin to its Saba Capital Income & Opportunities Fund portfolio.

It is reported that the fund manages about US$500 million in assets, including stocks, bonds, warrants, loans, SPACs and Bitcoin. According to the New Year letter to shareholders, the fund holds 108,000 shares of GBTC, worth about US$1.3 million .

The Central Bank of Russia plans to develop a cross-border settlement model using the digital ruble in the first quarter
As previously reported, on January 1, Russian lawmakers led by Financial Market Committee Chairman Anatoly Aksakov submitted draft legislation on the digital ruble to the State Duma, the lower house of the Russian parliament. The document proposes legislative changes aimed at creating conditions for the introduction of a digital ruble.

Project News

Project News

DCG Official: Gemini Lianchuang is trying to deflect the accusations against him and Gemini, who is solely responsible for operating Gemini Earn

Odaily News Cameron Winklevoss, the co-creator of Gemini, requested the dismissal of the current CEO of DCG, Barry Silbert. Digital Currency Group (DCG) officially stated that this is another desperate and non-constructive publicity stunt by Cameron Winklevoss. The mood shifted to DCG, with Cameron taking full responsibility for running Gemini Earn.

Investment and Financing

Yearn Introduces Permission-Free Vault Feature, Allowing Any User to Accumulate Earnings

Odaily News Yearn announced the launch of the permissionless vault function Permissionless Vault Factory, allowing anyone to deploy a yVault that can automatically compound interest for any Curve pool, with an active liquidity Gauge. Such vaults will have a 0% management fee and a 10% performance fee.
At this stage, users can only use Curve Finance's LP Token to create a vault for the time being, and more LP Tokens will be supported in the future.

Investment and Financing

"Social" encryption wallet The Easy Company completed a $14.2 million seed round of financing, with participation from Lobby Capital and others

"Social" encryption wallet The Easy Company completed a $14.2 million seed round of financing, with participation from Lobby Capital and others
Easy aims to combine user-curated profiles with engaging social features so people can search, navigate and discover the web3 world on their own. Easy is designed with cross-chain functionality and is currently compatible with Ethereum and Polygon NFT, with plans to support more blockchains in the future.

Characters & Voices

Characters & Voices

Zhu Su: Class action lawsuit against Terra and Do Kwon voluntarily dropped
Odaily News Three Arrows Capital (3AC) co-founder Zhu Su issued a document stating that the class action against Terraform Labs, Luna Foundation Guard (LFG), Do Kwon and their affiliates has voluntarily withdrawn. Lead plaintiff Matthew Albright filed a notice with the U.S. District Court for the Southern District. According to the notice, the case was voluntarily dismissed without prejudice to the interests of the defendant.
In August of this year, victims of the Terra incident filed a class action accusing the defendants of falsely promoting the UST algorithmic stablecoin, Terra (LUNA) and other related Terra tokens, including Terraform Labs, Jump Trading, Delphi Digital Consulting, Luna Foundation Guard ( LFG), Do Kwon, Nicholas Platias, Jose Macedo, Kanav Kriya and Remi Tetot.

It should be noted that two other class action lawsuits against Terraform Labs and Do Kwon, filed by law firms Bragar Eagel & Squire, PC and Scott+Scott, are still ongoing.

Central Bank: From December 2022, "currency in circulation (M 0 )" includes digital renminbi in circulation

Odaily News The People's Bank of China stated that from December 2022, "currency in circulation (M 0 )" includes digital renminbi in circulation. The balance of digital renminbi in circulation at the end of December was 13.61 billion yuan; after the revision, there will be no significant change in the growth rates of M1 and M2 at the end of each month in 2022.

Hong Kong Treasury Bureau: Blockchain technology can really solve bottlenecks and shorten IPO subscription time
Odaily News Xu Zhengyu, Secretary of the Financial Affairs and Treasury Bureau of the Hong Kong Special Administrative Region Government, said in an interview that he believes that cryptocurrency is more like an investment tool than to get rid of the shackles of legal tender.
Xu Shiren said that what excites him the most is the tokenization of green bonds, which simplifies the original cumbersome issuance and investment process. He also said that there are many areas where technology can really solve bottlenecks, such as shortening the subscription time for initial public offerings (IPOs). "Hong Kong is a very open place, we welcome all encryption companies as long as they comply with our laws and requirements."

Regarding whether Hong Kong allows licensed encryption exchanges to provide services to retail investors, Xu Shiren responded that the market still needs to be consulted. Xu Shiren said: "This is a kind of progress. We change with the market and the industry. We work with them to reduce risks, manage them, and develop this ecosystem." Providing more details on the rules, standards and requirements of the WSJ, he emphasized the importance of investor education.

CryptoQuant: Binance's revenue has increased 10 times in the past two years, Huobi's quarterly revenue has fallen by 98%

Odaily News According to data released by CryptoQuant, Binance’s revenue has increased 10 times in the past two years, and its revenue will be approximately US$12 billion in 2022; since the second quarter of 2021, Huobi’s quarterly revenue has dropped by 98%; With a 4x growth in the past two years, the platform will burn or repurchase OKB worth approximately $948 million in 2022.

Bloomberg: Grayscale GBTC rose 12% on Monday, the biggest one-day gain since February 2022
Odaily News According to Bloomberg News, the Grayscale Bitcoin Trust Fund GBTC rose by 12% on Monday (January 9), the largest one-day increase for the fund since February 2022, outperforming other currencies such as Bitcoin. risky assets. In addition, the data shows that GBTC’s net asset value discount rate has dropped to 44% from 49% in the previous month.

As previously reported, the Morgan Stanley European Opportunities Fund revealed in a document that it had purchased the Grayscale Bitcoin Trust Fund GBTC worth $3.6 million.

People familiar with the matter: Microsoft plans to inject $10 billion into ChatGPT creator OpenAI
Microsoft has been in talks to invest $10 billion in OpenAI, the creator of the AI ​​chatbot ChatGPT, people familiar with the matter said. The financing will also include other venture capital firms, the people said. Including the new investment, OpenAI would be valued at $29 billion.