| HashKey opens trading services to retail investors; Shibarium has restarted cross-chain bridge fund withdrawals (August 29)
headlines
HashKey Exchange Opens BTC/USD and ETH/USD Trading Pairs to Retail Investors
Odaily According to the official announcement, HashKey Exchange has officially opened BTC/USD and ETH/USD trading pairs to retail investors. Deposit and withdrawal services for BTC and ETH are now open to retail investors. Users can enjoy 0 transaction fees on all trading pairs until further notice.
Shibarium mainnet has reopened cross-chain bridge fund withdrawal
Odaily News Shibarium has reopened fund withdrawals on the cross-chain bridge between its main network and the Ethereum network.
Shytoshi Kusama, the chief developer of Shiba Inu, posted that the Shibarium mainnet is currently operating normally. Users can complete the withdrawal of assets such as ETH, SHIB, LEASH and WETH within 45 minutes to 4 hours. Withdrawals of BONE, the native token of the Shibarium network, take up to 7 days to complete. (The Block)
Odaily News According to data released by Bitrace’s DeTrust risk data platform, a total of more than 115 billion USDT will flow into some Southeast Asian related platform addresses in 2022, including 37.16 billion online gambling funds and 69.78 billion money laundering funds, involving about 460 million USDT fraudulently.
Industry news
Odaily News SBF lawyers filed a motion for provisional release again, with the same reasons as before, including poor network conditions in the prison and insufficient laptop power. The bottom line is to agree that the SBF meet with the defense team five times a week to help prepare the defense. (CoinDesk)
Odaily News In a document submitted to the U.S. Bankruptcy Court in Delaware last Thursday, Prime Trust CEO Jor Law explained a series of reasons for the companys troubles: the former management team blindly expanded expenditures, and the judgment of the encryption market trend in the summer of 2022 Error, loss of equipment required to access old wallet.
Law, who became interim CEO in November, said the previous leader increased spending at a time when the companys revenue was tight. Prime Trust spent about $10.5 million last October on revenue of about $3.1 million, for a net loss of more than $7 million; a month later, expenses rose again to $11.1 million, resulting in another net loss of about $8.4 million.
In addition, the company previously opened a cold wallet wallet ending in 98f for holding tokens in March 2018. In 2019, Prime Trust moved its wallet to a system operated by digital security platform Fireblocks. But the company didnt realize that the process of migrating from legacy wallets to the new system hadnt been fully completed, nor that the addresses it provided customers would still allow them to deposit funds into wallets ending in 98f. It only became aware of the errors when a customer requested a large amount of ETH to be withdrawn, but the company was unable to meet their withdrawal needs. To make matters worse, Prime Trust soon discovered that it could not find the hardware device needed to access the old wallet. Law said Prime Trust still does not have access to the wallet.
Law said that certain company employees then began using fiat currency in customer accounts to buy ETH and meet withdrawal requests between December 2021 and March 2022, using more than $76 million in total. Since then, Prime Trusts problems have intensified. (Decrypt)
Arkham: Prime Trusts inaccessible old wallet balance exceeds $45 million, 95% of which is ETH
Odaily News The encrypted data platform Arkham posted on the X platform (formerly Twitter) that the Prime Trust old wallet address (ending with 98 f) holds tokens worth more than 45 million US dollars, of which 95% (about 44.14 million US dollars) is ETH .
Phoenix Group Partners with Green Data City to Develop $300M Crypto Farm in Oman
Odaily News Abu Dhabi Phoenix Group and Green Data City, Oman’s first licensed crypto mining company, reached a deal worth $300 million last week to develop a 150-megawatt crypto mining farm in Oman. The mine, which will be fully operational in the second quarter of next year, will be one of the largest cryptocurrency mining data centers in the region. (The National)
Lao Electricity Company Announces It Will No Longer Provide Power to Local Crypto Mining Operations
Odaily News The Electricity Company of Laos (EDL) announced that it will no longer provide power for cryptocurrency mining operations in Laos. A notice issued by EDL on Aug. 24 noted that Laos experienced dry, hot weather in the first six months of 2023, leading to high demand for electricity and difficulties for hydropower plants to generate enough power.
EDL also said that 95 percent of the countrys electricity through its system is generated by hydroelectric plants. EDL plans to supply electricity locally and provide substantial power to the Electricity Authority of Thailand (EGAT) to feed the Thai grid during the upcoming dry season in 2024.
Meanwhile, Lao authorities said the cryptocurrency mining operation failed to repay its debts.
It is reported that in September 2021, the Lao government authorized six companies to try mining and trading of cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. (Vietnam News Agency)
Project News
Braavos: Starknet token STRK functions include governance, staking and gas payment
Odaily News Starknet Wallet Braavos published an article titled Why STRK is So Valuable. The article points out that the functions of Starknet token STRK include governance voting, staking and gas payment. The article stated that the initial issue price is not yet clear, and the follow-up update plan includes: reducing transaction costs, improving the block generation mode, and allowing gas fee payments based on ERC 20 tokens.
Odaily News Starknet posted on the X platform (formerly Twitter) that the community is preparing to commemorate the release of NFT and celebrate the quantum leap version of the mainnet.
The NFT issuance time is 13:00 on August 30 (UTC+ 8) and lasts only 24 hours.
MakerDAO has started buyback again, with a current treasury surplus of US$55.8 million
Odaily News Makerburn data shows that MakerDAO recently made a profit of over US$7.45 million by selling its RWA asset Monetalis Clydesdale for US$125 million. At present, its treasury system surplus (system surplus) is 55.8 million US dollars, and the part exceeding 50 million US dollars (5.8 million US dollars) will be used to repurchase MKR, and form an LP with DAI to add to Uniswap V2. MakerDAO started the buyback two days ago.
It is reported that the Monetalis Clydesdale: Liquid Bond Strategy and Execution related proposal MIP 65 was proposed by Monetalis founder Allan Pedersen in January 2022 and passed and implemented in October 2022, aiming to invest part of the stablecoins held by MakerDAO In the highly liquid, low-risk bond ETF, the initial debt limit is $500 million, which will be raised to $1.25 billion through a follow-up proposal in May 2023.
The temperature check vote for the Deploy Aave V3 Pool to Gnosis Chain proposal has passed
Odaily Snapshot page shows that the temperature check vote on the proposal Deploying Aave V3 Pool on Gnosis Chain has been passed.
The proposal recommends deploying the Aave V3 pool on Gnosis Chain, and the assets considered to be supported include wETH, wstETH, GNO, USDX, wxDAI, and EURe.
Odaily’s Snapshot page shows that Wintermute initiated the proposal of “V4 adoption and migration of DYDX tokens to the dYdX chain” in the dYdX community. Voting will begin at 07:49 on August 29, Beijing time, and will end at 07:49 on September 2.
Pudgy Penguins launches clothing brand Igloo, first collection is online
Odaily News Pudgy Penguins posted on the X platform (formerly Twitter) that it has launched the clothing brand Igloo and the first series is now online.
Investment and Financing
FirstMate completes US$3.75 million in financing, led by Dragonfly Capital
Odaily News FirstMate completed US$3.75 million in financing, led by Dragonfly Capital, with participation from Coinbase Ventures and NextView.
FirstMate is a startup aiming to provide a digital store for NFT creators. FirstMate is creator-focused, allowing artists to bring all of their work together on one platform, no matter where it was created, with full control over royalties to the creator. (The Block)
Odaily News According to official news, Web3 talent and project network BuidlerDAO announced the completion of a $2 million angel round of financing, led by Sequoia China Seed Fund and SevenX Ventures, Bing Ventures, M 77 Ventures, DRK Lab, Gate Labs, MirrorWorld, Conflux, Nicholas Hu (PlanckerDAO), Xiao Zhang (founder of zCloak Network), Paka, Vitalbridge, Inverse Ventures, Doc Labs, etc. participated in the investment.
global policy
Odaily News Indian Prime Minister Narendra Modi (Narendra Modi) emphasized in an interview with Business Today that there is a need for a global framework and regulations for cryptocurrencies.
Technology changes quickly, its a reality - theres no point in ignoring it or wishing it gone, he said. Instead, the focus should be on adoption, democratization and a unified approach. At the same time, the rules, Regulations and frameworks should not only belong to certain countries. Therefore, not only cryptocurrencies, but all emerging technologies need to have a global framework and regulations. We need a global model based on consensus, especially one that takes into account the Global South. South) pattern of national concern.”
Note: Global South countries refer to developing countries with low income, dense population and poor infrastructure, mainly located in Africa, Asia and Latin America. (Bitcoin.com)
Odaily News Patrick McHenry, Chairman of the Financial Services Committee of the U.S. House of Representatives, French Hill, Chairman of the Financial Technology and Inclusion Subcommittee, and Bill Huizenga, Chairman of the Oversight and Investigations Subcommittee, jointly sent a letter to Federal Reserve Chairman Powell, stating that Congress understands that stablecoins and the wider It is necessary for the digital asset ecosystem to provide regulatory certainty, but the recent regulatory letters issued by the Federal Reserve will upend the progress made by Congress to establish a regulatory regime for payment stablecoins.
The letter also stated that the establishment of the new activity supervision program appears to impose additional burdens on banking institutions’ participation in crypto-assets and give the Federal Reserve Board greater authority to reject crypto-asset-related activities.
character * voice
Weng Xiaoqi: HashKey Exchange is not yet open to users in mainland China
Odaily News Livio Weng, chief operating officer of HashKey Group, said at the launching ceremony event that HashKey Exchange is currently only open to users in 16 regions that meet regulatory requirements, and is cautious about users usage conditions. It will be based on application The user’s identity document, deposit and withdrawal bank card, and IP location will be reviewed.
HashKey Exchange has now launched a trial version of the web page and APP, and is expected to launch the official version in September. The specific schedule will be determined after communicating with partners and regulators. In the first phase, the total underwriting amount of the HashKey Exchange platform is about US$500 million, which will be increased later based on the number of users and capital scale.
Regarding the question of only USD trading pairs are currently open, Weng Xiaoqi said that HKD against BTC and ETH trading pairs will be open within a week or two.
PAULY: PEPE team continues to engage in market manipulation and insider trading
Odaily News PEPE founder PAULY posted on the X platform (formerly Twitter) that the PEPE team had previously stolen more than $10 million worth of funds from the CEX wallet and sold them on the open market. Now they have moved the remaining $9.6 million to a wallet controlled by an anonymous 25-year-old. They had placed a large number of short orders for insider trading before stealing CEX funds. They continue to commit market manipulation and insider trading violations.
