headlines
headlines
Ohio to sue Meta for 'misleading the public', seeking $100 billion in damages
National Development and Reform Commission spokesperson Meng Wei said yesterday that in the next step, we will focus on industrial centralized "mining", state-owned units involving "mining" and Bitcoin "mining" as the focus to carry out comprehensive rectification. For units that implement residential electricity prices, if they are found to be involved in virtual currency "mining" activities, they will study the imposition of punitive electricity prices, forming a high-pressure situation that continues to rectify virtual currency "mining" activities. (Financial Association)[
digital currency
digital currency
Glassnode: At present, about 65,000 BTC are reactivated every day
According to the latest data from the blockchain analysis company Glassnode, about 65,000 BTC are currently being reactivated every day. This is a relatively low level compared to the bull markets of 2017, 2019 and 2021, when more than 20,000 BTC were reactivated every day. In fact, the current level of reactivated BTC supply is similar to the sell-off pattern throughout late 2019 to 2020 that is often seen as characteristic of the later stages of a bear market. Additionally, since August 2021, more than 85% of the Bitcoin supply has been dormant.
Bitcoin fund assets under management rise to $56 billion
According to research by Cryptowisser, a comparison site for crypto services, 79 crypto exchanges have shut down in 2021, more than the same period in 2020, as many exchanges have fallen victim to regulations, hacking attacks and a competitive growth market. (Bitcoin News)
Blockchain industry
Xinchen Technology (300542.SZ) stated on the investor interaction platform on November 16 that the company's blockchain BaaS platform is a blockchain-as-a-service platform independently developed by the company, which can help users quickly deploy blockchain systems and provide blockchain Code deployment, blockchain operation status monitoring, configuration and management services. Xinchen Technology has the rapid implementation capability of chain applications (DApp), as well as chain-related basic technical capabilities such as proto-chain platforms, on-chain data storage, encryption algorithms (including national secrets and national secret CAs), and consensus algorithms. Blockchain service platform products (BaaS platform) with independent intellectual property rights. The company's blockchain research technology includes the direction of NFT, which can be used to confirm the rights of digital assets, and the company will actively explore the implementation of related applications. (Daily Economic News)
Investment and Financing
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Copyright NFT platform Euterpe completes $3.6 million in financing led by Fenbushi
Polysynth, a synthetic asset platform, completes $1.5 million in financing, with participation from Jump Capital and others
Irreverent Labs, an NFT game founded by former Microsoft executives, completed a $5 million seed round of financing led by a16z
NFT startup Guardian Link completes $12 million in Series A financing, led by Kalaari Capital
Kosen Labs, which aims to bring AI into the web3 world, completed a $5 million seed round of financing led by a16z
Kosen Labs announced the completion of a $5 million seed round of financing, led by a16z, with participation from Framework Ventures and other strategic partners. Kosen Labs is a team of ex-Google DeepMind AI researchers aiming to bring the benefits of advanced AI to the web3 world. Kosen Labs' mission is to optimize decentralized finance with advanced artificial intelligence. In the first step, Kosen Labs will focus on providing best-in-class active liquidity provision (LP) solutions for next-generation automated market makers (AMMs), such as Uniswap v3 and Sushiswap Trident.
StarkWare, an Israel-based Ethereum Layer 2 developer, has raised $50 million in Series C financing and is now valued at $2 billion. The round was led by Sequoia Capital, with participation from existing investors Paradigm, Three Arrows Capital, Alameda Research and Founders Fund. StarkWare uses ZK-rollups as its scaling technology, and StarkWare’s Ethereum scaling engine, StarkEx, is used by several crypto projects, including dYdX, Sorare, and Immutable. Several projects including MakerDAO, Aave, and Argent have committed to building on StarkNet. StarkWare co-founder Kolodny said StarkEx has settled transactions worth more than $200 billion, facilitating around 50 million trades. StarkWare will launch StarkNet Alpha on Ethereum before the end of this month, a permissionless decentralized ZK-Rollup that enables independent deployment of smart contracts. (The Block)
global policy
On Nov. 15, a subcommittee under South Korea’s National Assembly revisited the issue of postponing the crypto tax. After much discussion, the proposal to impose a 20% tax on crypto trading gains will come into effect early next year, rather than 2023. Additionally, Lee Jae-Myung, a candidate for South Korea’s ruling Democratic Party, is seeking to create a new agency to “manage and supervise” the digital asset market. (AMBCrypto)
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