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headlines
Meta updates advertising policy to allow more crypto companies to advertise
According to an official announcement, Meta (formerly known as Facebook) announced on Wednesday that it has decided to revoke a long-standing policy that prevents most cryptocurrency companies from advertising on its services, allowing more cryptocurrency and blockchain ads to be placed on Meta and Instagram. The company is increasing the number of regulatory licenses it accepts from three to 27. Before the update, only a small number of crypto companies were able to advertise on Facebook.
Square to Rebrand as Block to Further Embrace Decentralization and Blockchain Technology
Jack Dorsey's payments company Square is renaming its corporate entity to "Block," a change that will take effect on December 10, according to an official announcement Wednesday. The name change stems from the company's desire to embrace decentralization and blockchain technology more deeply. In addition to renaming Square to "Block," "Square Crypto" will also be rebranded to "Spiral," but Block's NYSE trading symbol will remain SQ. (The Block)
According to previous reports, the decentralized organization Badger DAO was hacked and user assets were transferred without authorization. According to the developer’s initial inventory of damaged assets, 136,000 bcvxCRV, 64,000 bveCVX, 38 ibBTC/sBTC, 13bibBTC/sBTC, and 19 DIGG have been lost in this incident.
Decentralized organization BadgerDAO confirms theft, loss of more than 120 million US dollars
The decentralized organization Badger DAO confirmed that it was attacked, and the loss amounted to 120.3 million US dollars, including about 2,100 BTC and 151 ETH. Current speculation in community channels is that the hack was a bug in the user interface, not a bug in the core protocol contracts. While Badger engineers investigate this, all smart contracts have been suspended to prevent further damage.
According to previous reports, the decentralized organization Badger DAO was hacked and user assets were transferred without authorization. According to the developer’s initial inventory of damaged assets, 136,000 bcvxCRV, 64,000 bveCVX, 38 ibBTC/sBTC, 13bibBTC/sBTC, and 19 DIGG have been lost in this incident.
digital currency
digital currency
'Kleiman v. CSW' Jury Unable to Unanimously Verdict, May End Case in Mistrial
According to the latest news, the "Kleiman v. CSW case" may end in a mistrial if jurors continue to stalemate. CSW claims that he used the pseudonym Satoshi Nakamoto when he invented Bitcoin. The case under consideration began in 2018, when Kleiman's estate sued him on the grounds that the two were partners in the invention and mining of bitcoin. At around 5pm (UTC) on December 2, the jury deadlocked, issuing the following statement: "Unfortunately, we were unable to reach a conclusion and we were unable to reach a consensus on either issue."
Maxine Waters, chairman of the U.S. House of Representatives Financial Services Committee, today announced the list of witnesses for the cryptocurrency hearing, including executives from multiple encryption companies: Circle CEO Jeremy Allaire, FTX CEO Sam Bankman-Fried, Bitfury CEO Brian Brooks , Paxos CEO Chad Cascarilla, Stellar CEO Denelle Dixon and Coinbase CFO Alesia Haas. The hearing is scheduled for Dec. 8 and will be titled "Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States." (The Block)
VanEck submitted an application for "VanEck Digital Asset Mining ETF" to the US SEC
According to the document, VanEck submitted an application for the "VanEck Digital Asset Mining ETF" to the US SEC, planning to invest in cryptocurrency mining companies.
EOS ecological secondary financing platform Pomelo's first phase of funding ended, 209 EOS ecological projects submitted applications
The first phase of funding for the EOS ecological secondary financing platform Pomelo has officially ended at 21:00 on December 1, 2021. A total of 209 applications for EOS ecological projects have been received, including applications from China, Europe, America, Japan, South Korea, and Southeast Asia. 76 projects in the region have successfully passed the review, covering multiple categories such as DeFi, wallets, NFT, and infrastructure. 1,022 independent users initiated 5,796 donations for their favorite projects, with a total donation amount of 30,759 EOS, which is about 133,276 US dollars. The degree of ecological discussion and participation is high.
As the official channel for the EOS Network Foundation to apply for funds, the EOS Network Foundation previously provided Pomelo with EOS worth 500,000 US dollars as a fund matching pool for this funding. At present, the Pomelo team is analyzing and counting the results, and the funds in the matching pool will be allocated to qualified projects that pass KYC in the form of secondary financing.
As the official channel for the EOS Network Foundation to apply for funds, the EOS Network Foundation previously provided Pomelo with EOS worth 500,000 US dollars as a fund matching pool for this funding. At present, the Pomelo team is analyzing and counting the results, and the funds in the matching pool will be allocated to qualified projects that pass KYC in the form of secondary financing.
DeversiFi will start airdropping tokens to active users on December 2nd
DeversiFi, a Layer 2 decentralized exchange, announced that starting from December 2, DeversiFi Labs will conduct token airdrops on behalf of DVF DAO, providing a total of up to 7,224,450 DVF tokens for the following people to claim:
– Active user of the DeversiFi protocol
– Wallet holding NEC in March 2021
According to official news, the second-tier native options protocol Lyra announced that it is distributing 13.25 million LYRA tokens (1.325% of the total supply) to 1,711 contributing community members and 4,434 early users of the protocol.
Blockchain industry
Blockchain industry
Hunan Airlines launches digital RMB payment service, and refunds arrive in real time
Beginning on December 1, passengers can use digital renminbi to pay for services such as booking air tickets on Hunan Airlines’ official website, enjoying safer and more efficient payment services. Hunan Airlines and Bank of Communications jointly carry out digital RMB application scenario innovation. Users who have opened the digital RMB payment service can choose "Digital RMB" in the payment method to place an order to enjoy various products and services of Hunan Airlines. Tickets paid by digital currency , if a refund occurs, the refund is more timely than the conventional method. The conventional bank card refund is generally within 3 working days, and the credit card is within 21 working days. The digital currency refund is real-time, providing passengers with Better experience. (China Civil Aviation Network)
Peking Union Medical College Hospital adds digital RMB payment channel
secondary title
Investment and Financing
Investment and Financing
According to The Information, the digital asset custody platform Fireblocks has completed a $400 million Series E financing at a valuation of $8 billion. Sequoia Capital participated in the investment, bringing its total financing to date to $889 million. In July, Fireblocks just completed a $310 million Series D financing at a valuation of $2 billion. Participating investors include Sequoia Capital, Stripes, Spark Capital, Coatue, DRW VC, and SCB 10X, a venture capital arm of Siam Commercial Bank. Fireblocks has some mainstream institutional clients, including Bank of New York Mellon and crypto asset manager Galaxy Digital. After the D round of financing, Jay Clayton, former chairman of the US SEC, joined the Fireblocks advisory board. (Ledger Insights)
Maven 11 Capital Launches Second Crypto Investment Fund at $120 Million
TooRichCity announced that it has received strategic investment from Everest Venture Group
Play-to-Earn (P2E) game company AAG Ventures (AAGV) completed $12.5 million in private equity financing, co-led by Shima Capital, Tribe Capital, and Tess Ventures, co-founders of HashKey Capital, Republic Realm, Sancor Capital, and angel investor Polygon Sandeep Nailwal and David Wang from SoftBank Latin America Fund, as well as Vulcan Forged and Sipher from the gaming industry participated.
Metaverse social platform Loot Squad completed a $5 million seed round of financing led by Delphi Digital. Its partners include Backed VC, First Serve Partners, Sfermion, Volt Capital, Impossible VC, INFINFT Fund, Red Cave Ventures, Palm Tree Crew. The new funds will be used to scale Loot Squad Adventurers, invest in game assets, and develop consumer products to improve the growth and stability of the P2E game. Loot Squad will release a new roadmap later this month.
Solana metaverse project Solice completes USD 4.3 million in financing, led by Three Arrows Capital
Solice, a Solana-based metaverse project, completed $4.3 million in financing led by Three Arrows Capital, Alameda Research, Solanium Ventures, SkyVision Capital, Jump Capital, Genblock Capital, Kucoin Labs, Solar Eco Fund, CMS Holdings, Maven Capital, Rhea Fund, A41 Ventures, ZBS Capital, Peech Capital, Icetea Labs, SkyNet Trading, Double Peak Group, Rarestone Capital, DAO Maker, Cropperbros Research, Mintable, DWeb3 Capital, etc. participated in the investment. This round of financing is used to build the first cross-platform VR metaverse on Solana.
Solice is a cross-platform PC and virtual reality (VR) game based on Decentraland and The Sandbox modes. Solice plans to soft launch in the first quarter of 2022 and will launch IDOs on multiple platforms. (CoinDesk)
News Avalanche ecological StableSwap project Platypus completed $3.3 million in financing, led by Three Arrows Capital and DeFiance Capital, 0xVenturesDAO, Avalanche, Avalaunch, Avatar, AVenturesDAO, Benqi, CMS, Colony, GBV, Hailstone, Keychain, Mechanism, Muhabbit, TPS, Vahalla Capital and YieldYak participated in the investment. As previously reported, Platypus received a grant through the Avalanche-X program to launch Avalanche's native StableSwap with an open unilateral liquidity pool. The Platypus protocol is designed to extend the scalability and capital efficiency of StableSwap. Platypus launched its Alpha mainnet on Avalanche on November 29, allowing users to exchange between USDT, USDC, DAI, and MIM with low slippage, and users can also provide liquidity for the above-mentioned stablecoins.
DeFi wallet Ambire wallet completes $2.5 million in financing, led by LAUNCHHub Ventures
The DeFi wallet Ambire wallet completed a financing of US$2.5 million, led by LAUNCHHub Ventures, Ascensive Assets, Metacartel Ventures and Zee Prime participated in the investment, and Bitcoin.com CEO Chaudhry participated as an angel investor. The company will use the funds to promote the Ambire wallet for mainstream adoption. (investing)
Multi-chain GameFi infrastructure Froyo Games completes $1.6 million financing led by Animoca Brands
Froyo Games, a multi-chain GameFi infrastructure, completed a strategic round of financing of US$1.6 million, led by Animoca Brands, Spartan Group, GBV Capital, BTC12 Capital, Mirana Ventures, Avocado Guild, Hooga Gaming, Chain Capital, Genblock Capital, Icetea Labs, Gamefi, Bigcoin Capital, Gate Labs, Newman Capital, and KOI Capital participated in the investment. The new funds will be used to fund Froyo Games' operations and product development.
It is reported that Froyo Games is a multi-chain GameFi infrastructure that enables the existing gaming and e-sports ecosystem to transition to an open metaverse on Ethereum and Binance Smart Chain (BSC). Froyo Games is a decentralized platform that allows game developers, publishers and esports operators to collaborate with the player community in an intuitive way and promote the latest Play-to-Earn gaming trends.
TooRichCity announced that it has received strategic investment from Everest Venture Group
News TooRichCity officially announced that it has received strategic investment from the investment institution Everest Venture Group (EVG). Through this strategic investment and cooperation, TooRichCity will continue to create more breathtaking magical buildings for its citizens, and series of villas, skyscrapers, airships, and amusement parks will be launched one after another. TooRichCity has become Metaverse's premier art real estate IP with its unique plastic punk style and community culture. As the top investment institution of Gamefi and NFT track, EVG will provide comprehensive global marketing support for TooRichCity, and promote multi-dimensional joint names and cooperation between the successful brands invested by it and the TooRichCity Metaverse. TooRichCity will explore the possibility of NFT games while building the metaverse, and is committed to becoming an important contributor to the Web3.0 world.
global policy
global policy
The Information Technology Development Department of the Ministry of Industry and Information Technology organized a symposium on the development of the blockchain industry
On December 2, 2021, the Department of Information Technology Development organized a symposium on the development of the blockchain industry through online video. The meeting summarized the advancement of the development of the blockchain industry in 2021, introduced the construction of the blockchain standard system and the development of the technology industry, studied and deployed the next key tasks; some local authorities exchanged methods to promote the development of the blockchain industry , experience and effectiveness; some R&D and application units introduced the development trend and application experience of the blockchain technology industry.
Relevant local industry and information authorities, China Electronics Standardization Research Institute, China Electronics Information Industry Development Research Institute and representatives of some enterprises and user units attended the meeting. (Official website of the Ministry of Industry and Information Technology)
Manisha Kapoor, secretary-general of the Advertising Standards Council of India (ASCI), said the agency is in discussions with the government to update guidelines on cryptocurrency advertising, including adequate disclosure of risks to ensure consumers do not mistake crypto products for fiat. Currencies that are not misled by exaggerated hype or unfair comparisons to regulated asset classes. Kapoor said ASCI is in "active discussions with governments and other experts" on encryption guidelines and seeks to "address issues of consumer interest." As such, ASCI’s existing regulations already require all advertisements to “be honest and not take advantage of consumers’ lack of experience or knowledge,” which applies to all categories of advertisements, including crypto products.
Character·Voice
Character·Voice
Musk: Web3 sounds like bullshit
In this regard, Elon Musk commented, "Web3 sounds like bullshit."
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