headlines
headlines
South Korea's joint investigation team for financial securities crimes launched an investigation on Terra and its core team members
According to official sources, the latest quarterly audit opinion issued by Tether shows that its commercial paper holdings decreased by 17% compared with the previous quarter, from US$24.2 billion to US$19.9 billion, and continued to decrease by 20% since April 1, 2022. %, which will be reflected in the report for the second quarter of 2022.
According to official sources, the latest quarterly audit opinion issued by Tether shows that its commercial paper holdings decreased by 17% compared with the previous quarter, from US$24.2 billion to US$19.9 billion, and continued to decrease by 20% since April 1, 2022. %, which will be reflected in the report for the second quarter of 2022.
The report was done by accounting firm MHA Cayman. According to the report, as of March 31, 2022, Tether's comprehensive total assets are at least more than US$82.4 billion, specifically US$82,424,821,101, and comprehensive assets exceed comprehensive liabilities.
Separately, Tether’s investments in money market funds and U.S. Treasury bills increased, rising more than 13 percent from $34.5 billion to $39.2 billion. The average credit rating for commercial paper and certificates of deposit also rose from A-2 to A-1, and secured loans fell by $1 billion.
Separately, Tether’s investments in money market funds and U.S. Treasury bills increased, rising more than 13 percent from $34.5 billion to $39.2 billion. The average credit rating for commercial paper and certificates of deposit also rose from A-2 to A-1, and secured loans fell by $1 billion.
According to Optimism’s official Discord information, OP airdrops will be claimed at the end of May at the earliest, and will be claimed in the second quarter at the latest. In addition, after the release of OP, the initial circulation of Token accounts for about 5% of the total supply.
The OP airdrop may be claimed as early as the end of May
According to Optimism’s official Discord information, OP airdrops will be claimed at the end of May at the earliest, and will be claimed in the second quarter at the latest. In addition, after the release of OP, the initial circulation of Token accounts for about 5% of the total supply.
cryptocurrency
cryptocurrency
SWIFT confirms it is working with Capgemini on CBDC-related cross-border payment tests
Currently, SWIFT is working with Capgemini to study how to interconnect the growing number of domestic-based CBDC networks around the world to make cross-border payment usage smoother. (Finbold)
South Korean tax authority prepares to impose additional tax of $78 million on LFG
South Korean tax authorities are preparing to impose an additional 100 billion won (approximately US$78 million) in taxes on Luna Foundation Guard (LFG). It is reported that LFG is regarded as a Korean legal person because although it was established in Singapore, its actual management is in South Korea. (Naver)
South Korean venture capital Hashed may lose more than $3.5 billion in the Terra crisis
South Korean encryption venture capital firm Hashed may lose more than $3.5 billion in the Terra crisis. On-chain data shows that the company has pledged more than 27 million LUNAs on the Columbus 3 mainnet, 9.7 million LUNAs on the Columbus 4 mainnet, and 13.2 million LUNAs on the current Columbus 5 mainnet. Based on LUNA prices in early April, Hashed's losses totaled more than $3.5 billion. (CoinDesk)
Delphi Ventures Takes $10M Lost Amid Terra Crisis
Canaan Technology announced its financial report for the first quarter of 2022 today. According to the announcement, Canaan Technology recorded revenue of 1.36 billion yuan in the quarter, a year-on-year increase of 236.7%. The company’s total sales computing power in the first quarter was 4.3 million TH/s, an increase of 119.1% year-on-year in the first quarter of 2021. Net profit attributable to ordinary shareholders increased from RMB 1.204 million in the same period in 2021 to RMB 441.6 million.
Ripple will invest $100 million in carbon reduction technology and related tool development
Ripple has announced plans to invest $100 million in climate-focused financial technology and carbon reduction technologies to modernize the carbon market. The funding will also continue to support research and development of new features and development tools, such as the tokenization of carbon credits as XRPL-based NFTs. (Forkast)
Ripple will invest $100 million in carbon reduction technology and related tool development
According to the bilibili overseas version APP client page, the bilibili overseas version APP has launched an NFT entrance, which supports connecting to the MetaMask wallet to view the official cooperative NFT project Cheers UP. This series of NFT can be used as an avatar, and has an external avatar authentication logo.
The Curve community released a new proposal to remove the UST pool from Gauges and no longer provide liquidity incentives to it. This move aims to prevent high slippage when adding liquidity, and some users get profit and so on.
MakerDAO released a new proposal, which will add a series of updates such as the Flash Mint module
MakerDAO released a new proposal, which included updates including support for quick withdrawals from Layer 2 to Layer 1, adding a new Flash Mint module, setting the debt limit of the new module to 250 million U.S. dollars, and lowering the upper limit of the old module to 250 million U.S. dollars, etc. .
Aztec Connect, the second-level privacy solution for Ethereum, will be launched on the mainnet on June 9, and relevant code audits will be conducted three to four weeks before the launch, zk.money account migration will be performed two weeks before the launch, and the core Deployment of contract and cross-chain bridge mainnet. If all goes well, the test version will be removed according to the scheduled time and zk.money will be deployed to the mainnet environment. After going online, users can use Lido Finance to pledge Ethereum through Aztec and use Element Finance to obtain income.
According to Twitter user FatMan, the DeFi project Stablegains received USDC and USD (US dollar) collateral from customers through wire transfers, and promised them a 15% return, but put all the money into Anchor without telling them. , and then only withdraw 4% from the top. And has changed the denomination from USD to UST in their app and is doing away with the login page and removing the old terms. The operation resulted in 4,878 customers losing $42 million and likely not being able to pay it back because they had all their money bet on Anchor.
The Klaytn-based DeFi project Kronos DAO embezzled DAI pledged by users in its vault and put it into Kairos Cash, and lost 6 million DAI.
Kairos Cash is a stablecoin that uses Kronos Coin as collateral, similar to the relationship between Luna and TerraUSD (UST). In addition, both Kairos Cash and Kronos are issued by Kronos Dao, the price of Kronos has plummeted, and the value of Kairos Cash can no longer be guaranteed. The 6 million DAI pledged by users turned into 6 million Kairos Cash in the Kronos Dao Vault, which Kronos Dao explained was “used as a strategic investment.” However, investors questioned that the explanation was insufficient and that no advance notice was given.
Currently, Kronos Dao has closed Kakao Talk and Telegram communication channels, leaving only Discord as a communication channel. (Pinpoint News)
GameFi and NFTs
According to the bilibili overseas version APP client page, the bilibili overseas version APP has launched an NFT entrance, which supports connecting to the MetaMask wallet to view the official cooperative NFT project Cheers UP. This series of NFT can be used as an avatar, and has an external avatar authentication logo.
It is reported that Bilibili announced in late April that it authorized the release of the Cheers UP series of NFTs for overseas users. This series contains 10,000 PFP-type NFTs released on Ethereum. Recently, the project voted to pass a proposal to destroy half of the total NFT, and keep 241 in the treasury for project and community construction.
Investment and Financing
Investment and Financing
It is reported that Round13 Digital Asset Fund will invest in encryption infrastructure and Web3 projects. The current investment projects include Improbable Worlds in the UK, Trust Machines and Ibex in the United States, and Chainsafe and Red Jar Digital Infrastructure in Canada. (Business Wire)
Coins.ph, an encrypted wallet service provider, announced the completion of a US$30 million Series C financing, led by CRibbit Capital and participated by several undisclosed strategic investors. (Youker)
Coins.ph, an encrypted wallet service provider, announced the completion of a US$30 million Series C financing, led by CRibbit Capital and participated by several undisclosed strategic investors. (Youker)
Chain game studio Azra Games completes USD 15 million seed round financing led by a16z
Web3 infrastructure provider NodeReal completes $16 million Series A financing led by Sky9 Capital
Web3 one-stop infrastructure provider Nodereal completed a $16 million Series A financing led by Sky9 Capital. It is reported that NodeReal was established in 2021 and is headquartered in Singapore. It aims to empower developers, innovative Web3 applications and large Web2 applications to explore the blockchain with scalable solutions. (Digital Journal)
Chain game studio Azra Games completes USD 15 million seed round financing led by a16z
Chain game studio Azra Games announced the completion of a $15 million seed round of financing, led by a16z, with participation from NFX, Coinbase Ventures, Play Ventures, and Franklin Templeton. Funds raised will be used to launch its first combat RPG game, "Project Arcanas." (CoinDesk)
Security Token Group (STG), a venture capital studio focused on building financial infrastructure to support security tokens, confirmed the completion of US$3 million in Series A financing, led by Blue Bay Ventures and Blizzard Fund (Ava Labs / Avalanche's venture capital fund) , Exodus, etc. participated in the vote.
Music NFT startup Serenade raises $4.2 million, "Wolverine" Hugh Jackman participates
Music NFT startup Serenade announced the completion of a new round of financing of 6 million Australian dollars (about 4.2 million U.S. dollars), with investors including executives from various companies in the music industry and Wolverine actor Hugh Jackman (Hugh Jackman).
Serenade stated that they plan to use the new financing for global expansion, including setting up an office in the United States and relaunching the Serenade 2.0 NFT marketplace. (Musically)
Security Token Group (STG), a venture capital studio focused on building financial infrastructure to support security tokens, confirmed the completion of US$3 million in Series A financing, led by Blue Bay Ventures and Blizzard Fund (Ava Labs / Avalanche's venture capital fund) , Exodus, etc. participated in the vote.
With the new financing, STG will seek to expand into other business verticals, including Security Token Advisors (STA) and Security Token Capital (STC). Meanwhile, Security Token Capital will prepare to launch tokenized investment products. (PR Newswire)
Decentralized wireless network Hexagon Wireless completed a $2 million seed round of financing, with participation from Hypersphere Ventures, Mechanism Capital, Superfluid Group, Inc, etc.
Decentralized wireless network Hexagon Wireless completed a $2 million seed round of financing, with participation from Hypersphere Ventures, Mechanism Capital, Superfluid Group, Inc, etc.
According to reports, Hexagon Wireless is focused on developing a revolutionary new model for building and maintaining wireless networks, democratizing ownership and access to spectrum and Internet connections by allowing anyone to purchase and deploy hardware that creates wireless coverage. (Globe Newswire)
global policy
global policy
Draft G7 finance ministers’ communiqué, urging the Financial Stability Board (FSB) to move forward with comprehensive regulation in light of the recent turmoil in the crypto asset market. (Huitong Finance)
Biden administration wants crypto exchanges to separate customer and company funds
U.S. President Joe Biden's administration will press Congress to require cryptocurrency exchanges to keep their customers' funds separate from their own company funds, a person familiar with the plan said, potentially limiting how the industry can operate. Way. Coinbase recently disclosed that customer funds could be considered bankruptcy estate if the company declares bankruptcy. Spurred on by this, federal officials intend to press U.S. lawmakers to address the issue, insisting on a future legal framework requiring crypto firms to segregate customer assets. Federal officials will push to include the change in any crypto bill before Congress in the coming weeks, the people said, building on an argument made in last year's report by the President's Task Force on Financial Markets on stablecoins: Firms with crypto wallets Close monitoring by the federal government is required. (CoinDesk)
U.S. Securities and Exchange Commission (SEC) Chairman Gensler has asked lawmakers to increase the agency's executive budget as it seeks to require cryptocurrency trading platforms to register with the SEC. Gensler told the House Appropriations Financial Services Subcommittee on Wednesday that many cryptocurrency trading platforms trade securities, not commodities, as defined by the SEC, and should therefore be registered with the agency. Unlike traditional commodities, cryptocurrencies such as bitcoin come from one major issuer, he said. "There is no (specific) issuer for commodities (corn, wheat, gold or oil, etc.). There is no specific party behind commodities, and the public does not make expectations based on that party." (Golden Ten)
The U.S. Department of Commerce has called for submissions on how to create a framework to enhance U.S. economic competitiveness in digital assets such as cryptocurrencies and stablecoins. The U.S. Department of Commerce (DoC) intends to issue a series of 17 questions through the International Trade Administration for comment. The request will be published in the Federal Register on May 19. These issues are related to the Department of Defense's efforts to develop a framework to address the challenges facing the growth of the U.S. digital asset economy under President Joe Biden's executive order. The questions will cover a range of topics related to U.S. crypto businesses, such as perceptions of how regulations can improve competitiveness and the obstacles business owners currently face. It will also cover digital asset mining, possibly related to bitcoin and ethereum. (Cointelegraph)
Panamanian President: Hopes to Pass Cryptocurrency Bill to Prevent Money Laundering
The President of Panama stated that he will not sign the encryption law at present, hoping to prevent money laundering through the encryption currency bill. (Golden Ten)
Jamaican central bank governor: We stay away from cryptocurrencies
Bank of Jamaica Governor Richard Byles said we stay away from cryptocurrencies.
Character · Voice
Source: Do Kwon tried to flee Korea and liquidate company before LUNA collapsed
Sources said Do Kwon tried to flee the country and liquidate the company on May 4 and 6 before LUNA completely collapsed. In a separate investigation, sources also revealed that Do Kwon owns 92% of Terra Singapore. In addition, in October last year, the Korean National Tax Service also announced an income tax penalty of 4.66 billion won on Terra Virgin, a wholly-owned subsidiary of Terra Singapore. According to sources, the tax office also traced Terra Virgin and Do Kwon to avoid tax by transferring free LUNA to LFG, which was established in Singapore. Some media said that Do Kwon was accused of tax evasion by the South Korean Taxation Agency. Do Kwon faced a tax bill of 100 billion won for evading corporate tax and income tax. However, sources also said that Terraform Labs had paid 100 billion won in taxes to the South Korean tax office at the end of last year. (Korea News Agency Naver)
Circle Vice President of Product: USDC Stablecoins Redeemed $61 Billion Last Year
The Boston-based stablecoin issuer redeemed $61 billion in USDC stablecoins last year, Joao Reginatto, vice president of product at Circle, said during a panel discussion on Permissionless on Wednesday that collateralization of stablecoins is important during periods of wild market volatility. And last week, as the market reacted to Terra’s crash, Circle redeemed $7 billion worth of USDC, meaning Circle processed more than 11% of the year’s total redemptions in just one week. Reginatto said: Our model is very boring and very simple full collateralization. Customers bring 1 USD, we give them 1 USDC, we keep that 1 USD. They bring USDC and we give them back $1. (Block Works)
MicroStrategy's new CFO: No changes to Bitcoin plans, no plans to sell any Bitcoin
Andrew Kang, the new CFO of MicroStrategy, said that despite the recent drop in bitcoin prices, MicroStrategy will not change its existing bitcoin plans and does not intend to sell any bitcoins. (WSJ)
Joey Krug, chief investment officer of Pantera Capital, said the firm had cashed out nearly 80% of its Terra (LUNA) investment long before TerraUSD (UST) crashed last week. Pantera Capital has made at least two investments in Terraform Labs, backing its $25 million funding round in January 2021 and joining its $150 million Ecosystem Fund in July 2021. (The Block)
Zhu Su: There are some signs that Bitcoin is re-entering the accumulation period
Zhu Su, the founder of Three Arrows Capital, tweeted that there are some signs that Bitcoin is re-entering the accumulation period (accumul range). During the period when the price of Bitcoin fell to 26,000 US dollars, there was the largest spot and derivatives transaction volume in the past year; 3. Bitcoin was stronger than the overnight stock market; 4. The Mayer multiple was at a low level; 5. Bitcoin is stronger in Asian trading hours than in American trading hours.
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