headlines
Many users reported that Multichain cross-chain assets have not been credited for a long time
Odaily reported that according to reports from several community users, using Multichain cross-chain, the assets have not been credited for more than 48 hours.
High Court of Montenegro capital reverses ruling allowing Do Kwon to be released on bail
Elon Musk: Do not recommend buying cryptocurrencies or betting all on Dogecoin
Although he discourages laymen from investing in Dogecoin, he said that Dogecoin is still his favorite because it has the best sense of humor. (Fortune)
Industry news
OpenAI CEO Signs Up for Worldcoin While Away from the US
Odaily News OpenAI CEO Sam Altman revealed on Twitter that he "finally" registered Worldcoin today because he is "not currently in the United States."
Visa's crypto team is exploring topics like account abstraction, interoperability, scalability, and privacy
Catherine Gu, Head of Visa CBDC and Protocols from Odaily, said that Visa’s cryptocurrency team is still in its infancy and there is no clearly defined roadmap yet, but the team is currently working on topics such as account abstraction, interoperability, scalability, and privacy .
Dutch court postpones trial of Tornado Cash developer Alexey Pertsev until next year
Odaily News The Dutch court confirmed at a hearing held today that the trial against Tornado Cash developer Alexey Pertsev will be postponed until next year, and the official date has not yet been set.
Today, Pertsev's lawyers and prosecutors weighed the evidence against him and called for further investigations ahead of trial. They will also discuss Pertsev's residency status in the Netherlands, which is due to expire in July.
In previous news, Dutch authorities arrested Alexey Pertsev in August last year on charges of allegedly participating in the development of Tornado Cash, concealing the flow of criminal funds, and facilitating money laundering.
Pertsev was released on bail in April. (DL News)
Hong Kong ZA Bank to launch virtual asset trading services to retail investors under new licensing regime
Odaily News Hong Kong Zhongan Bank (ZA Bank) announced plans to launch virtual asset trading services to retail investors. By cooperating with local licensed virtual asset exchanges, ZA Bank will seek regulatory approval to allow retail investors to trade through the ZA Bank App. Buy and sell virtual assets using fiat currency. In addition to virtual asset trading, ZhongAn Bank also plans to launch US stock trading services in due course.
ZA Bank said it adheres to strict customer security and regulatory compliance standards as a licensed bank in Hong Kong. After obtaining the required regulatory approvals for virtual asset trading services, ZA Bank will maintain close cooperation with different stakeholders to implement appropriate safeguards to ensure the safety and integrity of the services. Relevant measures will include: working with trusted third-party suppliers, implementing higher standards of security guidelines, and complying with strict anti-money laundering (AML) and know your customer (KYC) regulations.
Jump: Celer cBridge had a bug that threatened $130 million in funding, the team was contacted and successfully fixed
Layer 1 public chain LUKSO mainnet has been launched
ZachXBT: Fintoch is suspected of a Ponzi scheme, defrauding users of 31.6 million USDT
ZachXBT, an analyst on the Odaily chain, tweeted that the blockchain financial platform Fintoch is suspected of being a Ponzi scheme. The team behind the project defrauded users of 31.6 million USDT on the BNB Chain, and the funds were bridged to multiple addresses on Tron and Ethereum . Additionally, users reported being unable to withdraw cash.
Fintoch advertises itself as a blockchain financial platform built by Morgan Stanley, and users can get 1% return on investment every day. The team page on the Fintoch website refers to "Bobby Lambert" as its CEO, when in reality he doesn't exist and is a paid actor. Previously, both the Singapore government and Morgan Stanley had issued warnings about the investment plan.
The CS token project was attacked and the loss amounted to about 714,000 US dollars
Odaily News According to the Beosin EagleEye security risk monitoring, early warning and blocking platform monitoring of the blockchain security audit company Beosin, on May 24, 2023, the CS (CS) token project on the BSC chain was attacked. The reason is that the sellAmount in the _transfer function of the token is not updated in time. The Beosin security team will share a brief analysis as follows:
1. The attacker uses the flash loan to borrow BSC-USD and convert it into CS tokens.
2. The attacker starts to sell 3000 CS tokens, this step will set sellAmount.
3. The attacker will trigger sync() by transferring money to himself. In this function, the sellAmount of the previous step is used and this function will destroy the number of CS tokens in the pair. sellAmount will be set to 0 after Sync. Repeat steps 2 and 3 to continuously reduce the number of CS tokens in the pair and increase the price of CS tokens so that more BSC-USD can be exchanged in the next step.
The attacker borrowed 80,000,000 BSC-USD, exchanged it for 80,954,000 BSC-USD, repaid 80,240,000 BSC-USD, and made a profit of about 714,000 BSC-USD.
Project News
Odaily news Cosmos ecology does not require permission CosmWasm smart contract platform Neutron announced its token NTRN issuance plan, the arrangement is as follows:
- Airdrops to Cosmos Hub stakers starting May 24th;
- A liquidity auction will be held from May 24th to May 31st, and the liquidity activation mechanism for NTRN, ATOM and axlUSDC will be opened;
- The Lockdrop program, running from May 31st to June 5th, provides an incentivized liquidity option for liquidity auction participants who wish to lock up tokens for up to 12 months and earn Lockdrop Rewards;
- The release of NTRN is scheduled to end on June 5th, when tokens from airdrops and liquidity auctions will begin to unlock linearly over three months. Locked tokens will still grant voting rights, and liquidity mining rewards can be withdrawn immediately.
Cosmos integrates ICS-721 standard to enable cross-chain tracking and transfer of NFT
Odaily News Cosmos has recently integrated the NFT interoperability standard ICS-721. The ICS-721 standard will allow users to track and transfer their NFTs across chains without using bridging protocols. The new protocol enables NFT to be integrated into various fields, such as games, Web3 identity protocols, and social platforms.
ICS-721 is described as an application-layer inter-blockchain communication (IBC) protocol that enables communication between blockchains without the need for a bridging protocol. The ICS-721 NFT standard is a collaborative project between the Interchain Foundation and Bianjie to add utility to cross-chain NFTs by enabling cross-chain interoperability. (NFTgators)
Layer 1 public chain LUKSO mainnet has been launched
According to official news from Odaily, the LUKSO mainnet has been officially launched. It is reported that LUKSO is a Layer 1 blockchain launched by Fabian Vogelstelle, one of the proposers of the Ethereum ERC-20 standard, and others.
Layer 1 Blockchain Vega Protocol Launches On-Chain Futures Market
Odaily News Vega Protocol, a Layer 1 blockchain focused on derivatives trading, launched its first on-chain market. Community members of the project approve an on-chain governance vote to initiate transactions and bring their markets live. The community also voted to approve its proposal to open an interoperable cross-chain bridge with Ethereum.
Vega Protocol will provide users with the ability to create decentralized and permissionless marketplaces. The network currently only supports cash-settled futures markets, with plans to add spot, perpetual, and other types of markets in future stages.
4. Successful completion of internal and external audits with no serious issues;
Matter Labs hires former Activision Blizzard exec Michael Lee to push zkSync games forward
Odaily News zkSync development team Matter Labs has hired former Activision Blizzard community vice president Michael Lee as its senior vice president of growth to focus on bringing games to its zkSync. According to Michael Lee, zkSync will support the development work of AAA game studios or game developers interested in cryptocurrencies. (The Block)
Base: The release of the mainnet needs to meet five conditions, and two of them have been completed
Odaily news The Layer 2 network Base launched by Coinbase issued a document saying that some preconditions need to be completed before the main network is launched, including:
1. Successful completion of Regolith hard fork in testnet (Completed);
2. Successful infrastructure review with OP Labs team (completed);
3. Optimism successfully completed the Bedrock upgrade;
4. Successful completion of internal and external audits with no serious issues;
5. Prove the stability of the testnet.
Base also mentioned that after the mainnet launch there will be a “genesis window” for developers to deploy Dapps on the Base mainnet.
Coinbase Wallet-as-a-Service (WaaS) Product Launches on Ethereum Mainnet
Axie Infinity Introduces PFP Avatar Casting Capabilities for Digital Identity Proof
Coinbase senior software engineer yuga.eth said that the service was only open to the test network before, and plans to support more networks in the future after the Ethereum mainnet is launched.
Uniswap Foundation Solicits Community Proposals on How to Distribute ~4.4 Million ARBs
Odaily News Erin Koen, one of the managers of the Uniswap Foundation, solicited proposals on "how to allocate about 4.4 million ARBs" in the Uniswap community.
The Arbitrum DAO has allocated a portion of the ARB tokens to protocols based on and contributing to the development of the Arbitrum ecosystem. Uniswap will receive approximately 4.4 million ARBs as part of the distribution. These tokens will be sent to the DAO's alias address on Arbitrum; how the distribution is deployed will be subject to normal governance votes.
The proposal period lasts two weeks until June 7. At that point, proposals that have received community feedback should be incorporated into a new Temperature Check post according to the approved governance process.
0x releases the latest version of DEX aggregator Matcha, launching a new trading mode "Matcha Auto"
Odaily news infrastructure provider 0x released its latest version of Matcha. It is reported that this is a decentralized exchange (DEX) aggregator, which includes a number of new features focused on enhancing the user's trading experience. Matcha introduces a new transaction mode for users called “Matcha Auto,” which doubles the likelihood of a transaction being included in the next instant block while reducing the chances of it failing.
ParaSpace founder Yubo hints at rewards for loyal users
Odaily News ParaSpace founder Yubo tweeted, "For those who stay in the chaos, there will soon be something suitable for you." His tweet is equipped with a gift icon with the ParaSpace logo, suggesting that it will be distributed to loyal users related rewards.
Ethereum Fantasy Football Game Sorare Releases Alternative for French Players
Odaily News Ethereum fantasy football game Sorare released an alternative for French players. The French government recently stated that it plans to introduce a bill to introduce a new regulatory framework for "in-game exchangeable items".
Sorare has reached an interim solution with the French National Gaming Authority (ANJ) to help players legally registered in France to access Sorare. But that framework comes with a set of gameplay-altering limitations. Players in France will be able to access the game by submitting their phone number and proof of residency, once this feature is provided they will no longer be able to compete with NFT versions of digital cards with unique rarity characteristics, instead they will have a non-blockchain version of the card, These cards have similar qualities to Sorare's NFT-based cards.
The interim solution is already live on Sorare: Football and will be live on May 26th on Sorare: MLB and this fall on Sorare: NBA.
Axie Infinity Introduces PFP Avatar Casting Capabilities for Digital Identity Proof
According to official news from Odaily, the chain game Axie Infinity announced the launch of the Axie Avatar Forge function, which is a standardized and scalable way to issue digital identity certificates for users.
Lunacians can now use their Axie on the Axie APP to create unique and customizable PFP avatars.
Investment and Financing
Moonfire Ventures' fund has completed a $115 million fundraising and will invest in AI, Web3 and other fields
Odaily News Venture capital firm Moonfire Ventures announced that its Fund II has completed a fundraising of 115 million US dollars and will invest in artificial intelligence, Web3 and AR/VR and other fields.
Vertex Labs Acquires HAPE PRIME Development Studio Digimental Studio for $12M
Odaily Xunyuan Universe, Web3 and AI infrastructure provider Vertex Labs acquired the NFT series HAPE PRIME development studio Digimental Studio for $12 million.
Foresight Ventures Invests an Additional $10M in Its Foresight X Accelerator
Odaily News Singapore-based venture capital firm Foresight Ventures announced that it will invest an additional US$10 million in its Foresight X Accelerator, bringing its total to US$20 million.
In addition, Foresight X officially opened the online application for the second phase of Accelerator, which will focus on AI + Web3, ZK Machine Learning, Bitcoin ecology, LSDFi and NFTFi derivative projects, etc. The application will be closed at the end of June.
It is reported that in the first phase, Foresight focused on 30 companies in its Web3 project pool, providing investment of 50,000 to 200,000 US dollars. As the accelerator enters its second phase, Foresight will allocate $200,000 to each selected project and assign up to three mentors and a fund partner from the VC firm to provide hands-on guidance.
Digital bank Onyx Private completes $4.1 million in financing, Y Combinator and others participate
Odaily news digital bank Onyx Private announced the completion of $ 4.1 million in financing, Village Global, Y Combinator, Global Founders Capital, One Way Ventures, 186 Ventures and Olive Tree Capital participated in the investment.
Smart Contract Platform Firechain Completes $3M Pre-Seed Round Led by Genblock Capital
Odaily News Firechain, an asynchronous smart contract platform, recently announced the completion of a $3 million Pre-Seed round of financing, led by Genblock Capital, with participation from MGNR, Cogitent Ventures, 1 NVST, and Ankr. Funds from this round will be used to scale the team, accelerate its development roadmap, and launch its innovative blockchain platform.
DeFi oracle machine RedStone Oracles completes angel round financing, Aave founders and others participate
Odaily News DeFi Oracle RedStone Oracles announced the completion of angel round financing, Aave founder Stani Kulechov, Polygon co-founder Sandeep Nailwal, zkSync co-founder Alex Gluchovski, Avalanche co-founder Emin Gun Sirer, GMX core contributor Coinflipcanada and others participated in the investment.
Web3 game ecosystem Metagame Industries completed a strategic round of financing with a valuation of nearly 100 million US dollars, Mysten Labs and others participated in the investment
Odaily News Web3 game ecosystem Metagame Industries has completed a valuation strategy round of nearly 100 million US dollars. Investors include Sui public chain developer Mysten Labs, game developer Funplus/Xterio Ecosystem Fund, 2 Moon Capital, Big Brain Holdings, Chainhill Capital, MH Ventures, D Web3 Capital, ZeroX Fund, GMA, etc.
Bitcoin domain name project BTCDomain completes angel round financing
Odaily News According to official news, BTCDomain, a bitcoin ecological domain name project, announced the completion of an angel round of financing. Investors include Wang Feng, founder of Element and LK Venture, Kevin Shao, founder of Bitrise Capital, and investment institution Waterdrip Capital.
Bitfinex Invests Undisclosed Amount in Chilean Cryptocurrency Trading Platform OrionX
It is reported that OrionX was established in 2017 to provide cryptocurrency trading and wallet services in Chile, and plans to expand its business to countries such as Peru, Colombia and Mexico. (CoinDesk)
global policy
FATF: Did not require Pakistan to ban cryptocurrencies and their providers indiscriminately
Odaily News FATF said in an email that it “does not require countries to indiscriminately ban virtual assets and virtual asset service providers,” after Pakistan’s finance minister reportedly said FATF had set such a condition for the country.
On May 17, a local news outlet in Pakistan reported that Aisha Ghaus Pasha, the country’s Minister of State for Finance and Taxation, had stated that FATF set a condition that cryptocurrencies cannot be legalized in Pakistan in order to distance the country from increasingly A "grey list" of many monitored countries. There are also reports that Pakistan’s anti-encryption stance is due to its violation of conditions set by the FATF.
Pasha told the country’s Senate Finance Standing Committee that cryptocurrencies “will never be legalized in Pakistan,” local media reported on Wednesday.
The FATF declined to directly respond to Pasha’s statement, but said “countries are permitted, but not required, to ban virtual assets and virtual asset service providers.” (CoinDesk)
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USV partner Fred Wilson: If the United States bans Web3, we will double our investment
Odaily news Fred Wilson, a partner of the US venture capital institution USV (Union Square Ventures), published an article "The Freedom of Innovation".
"USV was subpoenaed by the York State Department of Financial Services (DFS) in 2014 for its Web3 investment activities, and we hired a law firm to respond to the subpoena, which ultimately allowed me to testify publicly before DFS officials," he said in the article. .I told DFS employees in my testimony that, unlike some countries, the United States respects the freedom to innovate.
Ledger CTO: Will gradually open source a larger part of the operating system
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