| The U.S. District Court hinted that NFT may be regarded as a security; OPNX founded by Zhu Su may have completed a financing of 25 million US dollars (March 8)
headlines
The U.S. District Court suggests that NFT may be considered securities
Recently, the U.S. District Court for the Southern District of New York ruled on a class action lawsuit against basketball-themed NFT Moments. The court identified the NFT as an “investment contract” based on the Howey test and denied the defendant’s motion to dismiss. The court noted that plaintiffs' claim that Moments was a security was reasonable. (jdsupra)
Informed sources: OPNX, an encrypted debt trading market founded by Zhu Su and others, may have completed $25 million in financing
Additionally, OPNX will acquire all assets of CoinFLEX, including people, technology and tokens. FLEX will be their main token. Possible rebranding: will be exchanged 1:1 (no lock). OPNX will group similar bankruptcy claims and tokenize them, and these tokenized claims will be traded on order book exchanges. OPNX will allow perpetual contract transactions on major assets with bankruptcy claims as collateral.
Industry news
U.S. SEC Takes Emergency Action Against Crypto Hedge Fund BKCoin Involved in $100 Million Ponzi Scheme
Odaily News The U.S. Securities and Exchange Commission (SEC) announced emergency action against crypto hedge fund BKCoin. It has frozen the authority of BKCoin and one of its leaders, Kevin Kang, and appointed a receiver of assets.
The US SEC stated that from at least October 2018 to September 2022, BKCoin and Kevin Kang raised $100 million from more than 55 investors and used some of the investor funds for "Ponzi payments" and personal use. The US SEC stated that BKCoin and Kevin Kang promised investors that their funds would be used for cryptocurrency transactions and that the funds would be stored in separately managed accounts. However, he mixed customer funds and used at least $3.6 million to other investors. Payment. The indictment also alleges that Kang misappropriated at least $371,000 in investor funds, which included paying for vacations, tickets to sporting events and New York City apartments.
White House spokesman: The government is closely monitoring the situation in Silvergate, and Biden has called on Congress to act
security incident
security incident
Odaily news The lending agreement Tender.fi is suspected of being attacked. Its official team stated on Twitter that it is currently investigating the abnormal amount of lending on the agreement, during which all lending activities have been suspended.
According to the analysis of 0x Scope researcher Cobie, this incident was caused by white hat hackers. His message said that Tender.fi’s oracle machine configuration was wrong, and he tried to get in touch with Tender.fi. At present, it is initially estimated that 1.6 million US dollars of funds have been affected .
According to Uniswap data, TND temporarily traded at $2.2931, a 26.5% drop in 24 hours.
Project News
A new version of the Fantom mainnet has been released, and the block processing time has been shortened by about 30%
According to official news from Odaily, the Fantom Foundation announced the release of a new version of the Fantom main network (go-opera version 1.1.2-rc.5), the upgrade content includes:
- P2P and event/block processing has been significantly improved, resulting in ~30% reduction in event/block processing time;
- Searching logs is 5x faster, each log search should take 1/5 of the time it used to.
In addition, the new version has made some adjustments to the database layer, which can integrate multiple data storage types (LevelDB and PebbleDB), and also supports database batch processing for creation processing and desynchronization data refresh; also includes security for Opera nodes Improvements, such as stricter conditions for starting LLR and txpool sync, restricting P2P connections to a given IP. The upgrade also disables account unlocking when external RPC is enabled. The new version also uses additional caching to improve performance and improve block processing metrics.
Odaily News Nexus Mutual, the largest DeFi insurance provider, has paid about $5 million in claims due to the bankruptcy of FTX and BlockFi, and expects to pay another $2 million. Nexus Mutual is a membership-based service that accounts for approximately 70% of funds locked in crypto-native insurance protocols.
Hugh Karp, founder of Nexus Mutual, said of the risk profile of centralized cryptocurrency lenders and custodians: “We kind of underestimated the correlation between them. They all went down at the same time, and they were not related to each other. Must be independent."
Hugh Karp, founder of Nexus Mutual, said of the risk profile of centralized cryptocurrency lenders and custodians: “We kind of underestimated the correlation between them. They all went down at the same time, and they were not related to each other. Must be independent."
However, the risk experts at Nexus Mutual did decide not to insure algorithmic stablecoins and cross-chain bridges connecting different blockchains. Both areas suffered huge losses last year: the TerraUSD stablecoin ecosystem wiped $60 billion in market value, while cross-chain bridge attacks accounted for 64% of the funds stolen from DeFi services ($3.1 billion).
Damus releases V1.2.0, adding Private zaps function
Odaily News Damus, an open social application based on the Nostr protocol, released V1.2.0, which added the Private zaps function and notification filter, and improved thread loading performance.
Odaily News Bluesky, a decentralized social network supported by Jack Dorsey, announced that it has supported users to register custom domain names as handles. Custom domain handles are one way for Bluesky to improve their trust status and control their users' online social identities. It builds on the existing DNS infrastructure.
Metaverse GameFi and NFT
Animoca Brands' NFT series Mocaverse is open for casting, and 4,865 pieces have been minted so far
Odaily News Animoca Brands' NFT series Mocaverse has been open for casting at 6:00 on March 7, Beijing time, and will last for 24 hours. Each Mocalist slot is eligible for 1 free mint + 1 paid mint (optional). The minting price is 0.138 ETH (or equivalent value in other tokens such as APE, USDC, SAND, etc.). Official figures show 4,865 have been minted so far.
Sports NFT platform Blockasset will transfer from Solana to Chiliz Chain 2.0 and receive equity investment from Chiliz
Coresky has designed a new business model that drives NFT transactions through Launchpad economics. Users can get "Ticket" by trading NFT on Coresky Marketplace, and then use the Ticket to extract NFT from the primary market asset package provided by Launchpad. Coresky will design a community membership system based on the user's on-chain transaction behavior. Each layer has its own Corecard status, different levels of Corecard will regularly receive different numbers of platform Tickets. (Bitcoin.com)
Investment and Financing
NFT trading market Coresky completes $6 million in financing, led by PAYSON LEE PRIVATE FOUNDATION
On March 7, Coresky, a community-based NFT trading market, announced the completion of a $6 million Pre-Seed round of financing led by PAYSON LEE PRIVATE FOUNDATION.
Coresky has designed a new business model that drives NFT transactions through Launchpad economics. Users can get "Ticket" by trading NFT on Coresky Marketplace, and then use the Ticket to extract NFT from the primary market asset package provided by Launchpad. Coresky will design a community membership system based on the user's on-chain transaction behavior. Each layer has its own Corecard status, different levels of Corecard will regularly receive different numbers of platform Tickets. (Bitcoin.com)
Web3 game studio Redemption Games raises $7 million led by Play Ventures
Redemption Games is an independent studio spun off from the mobile game development giant AppLovin. It is currently using blockchain technology, digital collections and artificial intelligence solutions to develop games that can be marketed to the mass market, and will add in the game Web3 elements such as exchange-traded digital assets. (Venture Beat)
Redemption Games is an independent studio spun off from the mobile game development giant AppLovin. It is currently using blockchain technology, digital collections and artificial intelligence solutions to develop games that can be marketed to the mass market, and will add in the game Web3 elements such as exchange-traded digital assets. (Venture Beat)
Nealthy raises $1.3M pre-seed round with participation from DonGeraldo
Nealthy processes transactions through blockchain technology and provides index tokens, enabling investors to quickly and worry-free enter the Web3 market. The index tokens "replicate" the traditional ETF structure by storing a variety of virtual assets. In addition, nealthy has also launched the first dynamic blue-chip NFT token "NFTS", which is expected to be released in summer 2023. (einnews)
Nealthy processes transactions through blockchain technology and provides index tokens, enabling investors to quickly and worry-free enter the Web3 market. The index tokens "replicate" the traditional ETF structure by storing a variety of virtual assets. In addition, nealthy has also launched the first dynamic blue-chip NFT token "NFTS", which is expected to be released in summer 2023. (einnews)
Informed sources: OPNX, an encrypted debt trading market founded by Zhu Su and others, may have completed $25 million in financing
Additionally, OPNX will acquire all assets of CoinFLEX, including people, technology and tokens. FLEX will be their main token. Possible rebranding: will be exchanged 1:1 (no lock). OPNX will group similar bankruptcy claims and tokenize them, and these tokenized claims will be traded on order book exchanges. OPNX will allow perpetual contract transactions on major assets with bankruptcy claims as collateral.
Web3 App Kresus Closes $25M Series A Funding Led by Liberty City Ventures
Feminine Content Brand Rebel Girls Raises $8M Led by Penguin Random House
Kresus is not yet available and the website describes it as Part Exchange, Part Wallet and Part Guide. The funds will be used to continue building the app and to facilitate hiring efforts and key partnerships. (The Block)
Feminine Content Brand Rebel Girls Raises $8M Led by Penguin Random House
On March 7, female content brand Rebel Girls completed $8 million in financing, led by publishing giant Penguin Random House, with participation from Asma Ishaq, Jenny Zhu, Jocelyn Mangan, etc. Rebel Girls announced that it will use the new funds to establish new partnerships And explore the metaverse platform. (kidscreen)
global policy
global policy
Thailand to offer tax breaks for companies issuing investment tokens
Thailand to offer tax breaks for companies issuing investment tokens
