headlines
OpenAI: Sam Altman will return as CEO
Odaily News OpenAI stated that it has reached an agreement in principle, Sam Altman will return to OpenAI as CEO, and form a new board of directors, including Bret Taylor (Chairman), Larry Summers and Adam DAngelo.
CZ releases internal letter: I will have to endure some pain, but I will get through it
Odaily News CZ issued an internal letter stating:
Thank you all for your warm, caring, touching words, and more importantly for keeping this ship flying. Since I receive so many messages right now, I cant reply to them all. So, let me talk about it here.
It was certainly a difficult day for me, going through this unfamiliar process with a 12-hour time difference and not being able to use my phone for much of the day in court. I pre-wrote this tweet at 4am. Between all the other long legal documents I had to review, I didn’t really have time to write an internal memo up front. I think our communications team does a great job. I wont repeat what has already been said. I just want to say how proud I am of your work today, past and future.
Binance will be fine. Im going to have to endure some pain, but Im going to survive. Although there will be some structural changes, we will get through this. Looking back a few years later, that might not have been such a bad thing. I need a break anyway. Now I understand, you have to keep working hard and dont complain that Im lazy. To lighten my mood a bit, this famous line from Star Trek (2009) popped into my head. I need everyone to continue to do well. Its a good movie if you havent seen it. Please help Richard transition to his new role. Well meet at the conference, where Ill say a few words and then hand it over to Richard.
Binance’s new CEO: Binance’s capital structure is debt-free, with strong revenue and profits
Odaily News According to analysis by Coinbase Director Conor, Binance is likely to pay the full $4.3 billion fine without selling crypto assets. In this regard, Binance’s new CEO Richard Teng said that Binance’s business fundamentals are very strong, and Binance continues to operate the world’s largest cryptocurrency exchange by trading volume, with a debt-free capital structure and moderate expenses, although Binance charges users has lower expenses but strong revenue and profits.
Odaily News Regarding the discussion in the community on the subsequent regulation of the SEC, Binance co-founder He Yi said that the SEC is a civil lawsuit and will be litigated slowly. Same as Ripple.
Suspected HECO Bridge and HTX Cumulative Losses $110 Million
Odaily News There were many suspicious transactions on the HECO Bridge today, and the suspicious address has received approximately $86.6 million. But Wintermute research director Igor Igamberdiev and blockchain analyst PeckShield said that in addition to the HECO Bridge, cryptocurrency exchange HTX is estimated to have other vulnerabilities, citing $23.4 million in suspicious transfers. (The Block)
Odaily News Justin Sun said in his Twitter response to the Heco hacking incident that HTX will fully compensate for the loss of HTX hot wallet, and HTX deposits and withdrawals are currently suspended. All HTX funds are safe, please rest assured that the community is investigating the specific reasons for the hacker attack. Service will be restored once the investigation is completed and the cause is determined.
Mt. Gox plans to start paying off debt with cash this year
Odaily News Mt. Gox is planning to start repaying creditors in cash in 2023 and may continue into 2024.
Nobuaki Kobayashi, the trustee of the exchange, said in an email that due to the large number of creditors, the specific repayment time has not yet been determined, so it is impossible to notify each creditor of the specific repayment time in advance. Creditors can check the reimbursement status in their claims file system.
Founded in 2010, Mt. Gox became the worlds largest bitcoin exchange by 2013, but stopped all withdrawals in early 2014 and filed for bankruptcy after losing more than 800,000 bitcoins. (TheBlock)
Industry News
Bloomberg Analyst: BlackRock talks to SEC, prefers physically created spot Bitcoin ETF
Odaily News Bloomberg analyst James Seyffart posted on the X platform that BlackRock may also be meeting with the SEC and discuss the impact of the two models of physical redemption and cash redemption on Bitcoin ETFs.
In a related PPT content presentation, BlackRock seems to prefer physically creating a spot Bitcoin ETF (which is considered the clearest and most efficient way for them and end investors).
Bloomberg Analyst: Grayscale has met with relevant SEC officials to discuss Bitcoin spot ETF matters
Odaily News Bloomberg ETF analyst James Seyffart posted on the Other potential Bitcoin spot ETF issuers are also rumored to have met with the SEC over the past week.
Odaily News U.S. Commodity Futures Trading Commission (CFTC) Commissioner Caroline Pham said that in addition to the fines against Binance and CZ, if the federal judge approves the proposed settlement plan, Binance’s former chief compliance officer Samuel Lim will also pay a $1.5 million fine. , he is also prohibited from acting as an unregistered futures broker or operating any illegal cryptocurrency derivatives platform. Caroline Pham said this is the first time the CFTC has held compliance executives personally accountable.
According to a press release issued by the CFTC, the four enforcement actions taken against Binance by the CFTC, DOJ, FinCEN, and OFAC require Binance to pay a total of more than $4.3 billion in criminal forfeitures and fines. Among them, the CFTC requires Binance to hand over US$1.35 billion in illegal gains and pay a civil penalty of US$1.35 billion to the CFTC. In addition, it also requires CZ to pay a civil penalty of US$150 million to the CFTC. The fine is the largest ever imposed by the regulator. (CoinDesk)
Odaily News Coinbase Director Conor Grogan posted on the Drop cash balances or funds that are not in the wallet in PoR. Binance will most likely pay the $4.3 billion DOJ fine in full without selling the crypto assets at all.
Genesis sues Gemini to recover $689 million in priority transfers
Odaily News Genesis Global Capital is suing its former business partner Gemini Trust to recover more than $689 million. The lawsuit alleges that Gemini made priority transfers from Genesis in the aggregate amount of not less than approximately $689.3 million, to the detriment of other creditors, and asks the court to rectify this injustice. Genesis and Gemini have been in a public and legal dispute since FTX’s collapse. Genesis filed for bankruptcy in January of this year.
BlockFi: Deadline for international customers to submit proof of claims is December 9
Odaily News BlockFi posted on the If the creditor has already filed a claim or the claim has been arranged in the United States, no further action is required.
Project News
Odaily News Bitcoin developer @0x B 10 C posted that according to its Bitcoin mining pool transaction review monitoring service miningpool-observer, in the past few weeks, F2 Pool is likely to have deliberately filtered four transactions involving OFAC (U.S. Department of Foreign Affairs). Asset Control Office) sanctions transactions to addresses. The author pointed out that there are usually many reasons why transactions are not included in the block. It may be because transactions propagate in the network at different speeds. Each node has its own set of valid transactions. Mining pools may also prioritize transactions based on different reasons. Processing, including special payments received, etc. But for these four transactions that were not included in the block by F 2 Pool, the author analyzed the rate distribution of the missing transactions and the included alternative transactions (for example, the former can provide more mining fees), combined with the block space situation (space sufficiently accommodated but not actually included), concluding that this was a case of intentional filtering.
Polygon zkEVM mainnet beta infrastructure update will take place on November 23
Odaily News According to the official announcement, the Polygon zkEVM mainnet Beta infrastructure update will be carried out at 13:00 UTC on November 23 (21:00 Beijing time), and the update will take about 30 minutes. The network is available during the update, but the sequencer restart takes about 2 minutes, and there is no action required by the end user before or after the update.
This update brings a number of breaking changes to the zkEVM node, bridge, and attester infrastructure, including changes to RPC, sequencers, synchronizers, and databases. It also includes Websocket improvements and other fixes. Developers need to update to the latest versions of nodes, provers, and bridges.
Optimism Lianchuang proposes ApeCoin DAO to use Superchain to develop its L2 network ApeChain
Odaily News Optimism co-founder and chief scientist Ben Jones published a proposal on the ApeCoin forum, suggesting that ApeCoin DAO develop and maintain its L2 network ApeChain on Optimism Superchain. Its advantages include: it can be easily deployed and maintained; ApeCoin DAO can have a voice on the Optimism platform, such as actively participating in governance, helping to guide the future direction of Superchain; access to revenue streams and innovation opportunities.
LayerZero has been launched on the L2 Rollup Frame testnet
According to official news from Odaily, LayerZero has been launched on the Frame testnet. Developers can use LayerZero to send cross-chain messages and bridge NFTs to Frame via the ONFT standard. LayerZero’s ONFT standard allows developers to create NFTs that can be bridged across multiple chains.
It is reported that Frame is a Layer 2 Rollup designed specifically for NFT and based on the Arbitrum Nitro stack, providing a platform for artists and enthusiasts to explore and test NFT-related experiences.
Pragma oracle has been launched on Starknet mainnet
According to official news from Odaily, the Pragma oracle service has been launched on the Starknet mainnet.
According to Starknets future plan, the network plans to add STRK as a new fee token in addition to ETH, and this mechanism needs to rely on oracles to provide real-time price feeds of STRK ＜＞ ETH. In the short term, Starknet plans to use decentralized Pragma The oracle machine is a temporary solution, and the long-term decentralized solution needs to be implemented through future governance.
Unstoppable Domains CEO denies company stole ENS technology to patent
Odaily News In response to the ENS founder’s accusation that Unstoppable Domains stole ENS technology to obtain patents, Unstoppable CEO Matthew Gould responded: “Given the changing landscape of the industry, no meaningful forward-looking guarantees can be made. In my opinion, The only solution is greater cooperation and discussion.
Additionally, Gould said: We refute claims that we stole ENS intellectual property. We patented technology we built and used it in our system, which is different from the system ENS built.
The goal of the Web3 Domain Alliance is to help the Web3 domain name industry, avoid conflicts and set standards, Gould said. ENS requires us to open source all of our patents, which ignores the fact that we have already reached out to cooperate through our non-assertion commitment. hand, and ENS has yet to accept this commitment.” (CoinDesk)
AzukiDAO drops the lawsuit against Zagabond and transforms into a MEME coin community
Odaily News On November 22, AzukiDAO announced that it had decided to cancel the lawsuit against Zagabond, the founder of the Azuki project, after consulting with him. At the same time, AzukiDAO will transform into a MEME coin community and launch a social experiment aimed at exposing hypocrisy in the market.
AzukiDAO emphasized that although the Bean token itself has no practical significance, it will have special value with community support. The organization says its goal is to expose scandals and punish projects that violate ethics and integrity. AzukiDAO also claims that the market capitalization of Bean tokens will exceed that of all NFT series within three months.
CoinGecko acquires NFT data infrastructure provider Zash
Odaily News Cryptocurrency data tool provider CoinGecko acquires NFT data infrastructure provider Zash, which is its first acquisition. The terms of the transaction have not been disclosed.
CoinGecko plans to incorporate Zash’s NFT data infrastructure into its existing API offerings by the second quarter of 2024, CoinGecko co-founder Bobby Ong said. Zash’s customers and partners can access CoinGecko’s cryptographic data API.
It is reported that Zash was founded in 2021 and provides indexed NFT data for 87 markets including Ethereum, Polygon, BNB Smart Chain, Solana and Bitcoin Ordinals. Zash tracks NFT metadata, historical transactions, and lending data. (Tech in Asia)
Odaily News Today, some community members discovered that deposits on the SafeTrade trading platform could not be credited, and some users were unable to withdraw cash.
Odaily found that some users have questioned SafeTrade’s official social account, but SafeTrade has not yet responded to this matter.
Investment and Financing
Odaily News Israel’s artificial intelligence startup AI 21 Labs raised an additional US$53 million, bringing its Series C financing amount to US$208 million. New investors include Intel Capital and Comcast Ventures.
To date, AI 21 Labs’ total financing amount has reached US$336 million, and its valuation is still US$1.4 billion. AI 21 Labs will use the funds from this round of financing to product development and increase headcount, including recruiting employees who may leave OpenAI.
It is reported that AI 21 Labs’ flagship product is the pay-as-you-go developer platform AI 21 Studio, which is used to build custom text-based business applications based on AI 21’s proprietary text generation artificial intelligence model. (Techcrunch)
Smart Chain received US$5 million investment from BCH Ecological Foundation
Odaily News On November 22, the Smart Chain super-performance computing power public chain announced that it has received a strategic investment of US$5 million from the BCH Ecological Foundation, and the two parties have reached an in-depth cooperation.
The Smart Chain team stated that this strategic cooperation further strengthens Smart Chain’s future development direction, which is to strive to build the world’s largest distributed supercomputing public chain ecosystem and amplify the value of computing power resources.
Derivatives trading protocol IntentX completes $2.5 million in seed round led by Magnus Capital
Odaily News Derivatives trading protocol IntentX announced the completion of a US$2.5 million seed round of financing, led by Magnus Capital, with participating investors including Agnostic Fund, Prismatic Capital, MS 2 Capital, Coral DeFi, Contango Digital Assets, Castle Capital, etc.
IntentX has released an Open Beta version, providing trading for more than 180 perpetual currency pairs. On the IntentX platform, market makers (solvers) can pool their funds to fulfill specific trading requests (intent) with instant liquidity.
One-click aggregated basic network framework Vistara completes first round of financing
Odaily News Vistara announced the completion of its first round of financing. This round of financing was co-led by D1 Ventures and Factor. Celestia CEO Mustafa Al-Bassam, Celestia COO Nick White and Public Works founded by Gitcoin co-founder Scott Moore all participated in the investment.
Vistara is building a Hardware Availability Layer (HAL) to drive adoption of modular networking globally. With Vistara, engineers, hardware providers and users can collaborate to share and access the resources they need to create or participate in distributed networks that can dynamically adapt to the demands of globalization. It is reported that the open source tool Vimana CLI recently launched by Vistara has attracted more than 12,000 light node operators to participate in the operation of the Celestia/Avail modular network with one click through Mac/Linux or Android phones in the past 20 days.
global policy
Odaily News The U.S. Securities and Exchange Commission (SEC) officially announced that it will hold a closed meeting next Thursday, November 30. The agenda topics include: the formulation and settlement of injunction litigation, the filing and settlement of administrative litigation, the settlement of litigation claims, and litigation-related matters. matters, and other matters related to review and enforcement procedures. Crypto community analysis shows that the U.S. Securities and Exchange Commission may study settlement plans in recent crypto litigation cases, such as the Ripple case, in this closed-door meeting. According to previous disclosures, the U.S. Securities and Exchange Commission and Ripple need to meet on February 12, 2024. A lawsuit settlement was reached a few days ago, and it is reported that the focus of the dispute between the two parties may be a huge fine of US$770 million against Ripple.
SEC Commissioner: We have no reason to block Bitcoin spot ETF
Odaily News SEC commissioner said in an interview: We have no reason to hinder the approval of a Bitcoin spot ETF.
Character*Voice
Odaily News In response to Binance reaching a historic settlement with U.S. regulators, Binance co-founder He Yi issued a post on the X platform emphasizing that U.S. regulators did not accuse Binance of misappropriating user funds or participating in market manipulation. Binance is committed to further strengthening compliance measures and continuing to build and develop its platform.
In addition, He Yi said in the community: Our early compliance was not good enough, and we had to be beaten when we made mistakes. Binance did not use user money, nor did it manipulate the market. If compliance is good, it is still a good boy; this is not directed at Binance. There was BitMEX before, now it’s Binance, sit in a row, come one by one. Now it’s Binance, which is compliant, and a new chapter has opened.”
Odaily News Shenyu posted on the X platform that the regulatory settlement agreement reached between the U.S. Department of Justice and Binance has cleared the way for ETFs. Thank you CZ for your outstanding contributions to the industry. We are willing to work with CZ to deeply explore the infinite possibilities of DeFi.
Odaily News Justin Sun forwarded CZ’s resignation statement on the , you founded Binance and pushed the entire industry to unprecedented heights. Without you, the cryptocurrency industry would not be able to reach the heights it is today. It makes me a little sad to think of you leaving this position, but when I think about the many more you will have Im truly happy for you as you take the time to rest and enjoy life. Thank you for everything you do for the entire industry.
