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| AC denies that it will return to the encryption industry; Hong Kong Securities Regulatory Commission reminds NFT investment related risks (June 7)
Azuma
Odaily资深作者
@azuma_eth
2022-06-06 23:07
This article is about 5500 words, reading the full article takes about 8 minutes
2Miners mining pool: Ethereum's move to PoS instead of PoW was its biggest mistake.


headlines

headlines

Andre Cronje denies rumors of his return to the crypto industry: "It's all a hoax"
News Andre Cronje (AC) has denied that he plans to return to the encryption industry.
Recently, when asked about the rumors on Twitter that he was about to return to the crypto industry, AC made it clear: "I left crypto." It's all a scam."

In March of this year, Anton Nell, senior solution architect of Fantom, tweeted that Andre Cronje and himself had decided not to continue contributing to the DeFi and cryptocurrency fields. The 25 related apps and services that the two co-developed will cease operations on April 3. (BeInCrypto)

Mining pool 2Miners: Ethereum's move to PoS instead of PoW was its biggest mistake
2Miners, a mining pool, said that Ethereum’s shift to PoS instead of PoW was its biggest mistake. 2Miners noted:
1. Ethereum adopts PoW and GPU mining, and individuals can participate in mining with a minimum of a few hundred dollars; PoS requires 32 ETH (about 60,000 dollars at present), which reduces the degree of decentralization.
2. Pledging 32 ETH faces huge risks, such as being stolen, slashed, and price fluctuations.
3. The profit of PoS is 10 times that of PoW, but there is no profit for miners, and ordinary users lose their source of income.
4. PoS security is questionable.

5. PoS will increase the number of fraudulent platforms offering joint staking, destroying trust in cryptocurrencies, and the consequences may be worse than the LUNA and UST crashes.

The Hong Kong Securities Regulatory Commission reminds investors to pay attention to the risks related to NFT
The Hong Kong Securities Regulatory Commission stated that it has recently noticed that some NFTs cross the line between collectibles and financial assets, such as subdivided or homogeneous NFTs with a structure similar to "securities" or especially "collective investment schemes". Create NFTs. If an NFT constitutes an interest under a collective investment scheme, the promotion or distribution of the NFT may constitute a "regulated activity". Anyone wishing to carry on a regulated activity must be licensed by the SFC unless exempted. (interface)

cryptocurrency

cryptocurrency

Analysis: Celsius may be technically insolvent

According to the analysis of Twitter user yieldchad, from a technical perspective, Celsius may be insolvent. The project has a total of 1 million ETHs, but only 268,000 (nearly 27%) have sufficient liquidity; the other 445,000 are Lido’s stETH, which can only be exchanged for 287,000 ETHs at the current Curve exchange rate ;The last 288,000 pieces were directly pledged into the Ethereum 2.0 contract, and they will not be available for a while (at least within 1 year). At a rate of 50,000 ETH per week, Celsius will run out of liquid ETH within five weeks.

The Terra community launched a new proposal on "0.5% LUNA emergency fund allocation" for three groups
Terra community members initiated a new proposal on "0.5% LUNA Emergency Fund Allocation", proposing that three groups are eligible for emergency fund allocation: projects launched on Terra Classic and achieving product market matching and TVL, projects launched and implemented on Terra Classic Projects with product-market fit but no measurable TVL, projects that have not yet achieved product-market fit (pre-PMF) (both pre-launch and post-launch), and recommend allocation of $100,000 to $300,000 to eligible pre-PMF teams of LUNA funds.

Note: The Terra Ecosystem Revitalization Plan 2 specifies 10% of the LUNA supply to be used exclusively to motivate developers on Terra 2.0, of which 0.5% is emergency funds designed to help project parties build products after the network is launched. If it is not launched within 1 year, the funds will be refunded.

Lido Developer Proposal Suggests Lido DAO to Sell 10,000 ETH

Kadmil, the core developer of Lido Finance, put forward a proposal requiring the governance platform Lido DAO to sell 10,000 ETH (approximately $19 million) from its treasury funds to cover Lido’s operating expenses for the next two years. Kadmil said that if the price of ETH drops in the future, the DAO's resources for operating expenses and reimbursement of DAO contributors will be greatly reduced. Lido DAO currently holds a total of $230 million in its treasury, consisting of 166 million Lido DAO (LDO) tokens, 20,940 ETH, and 3,836 ETH pledged. (The Block)

Security Team: ACC Token Rug Pull, Loss of $120,000
On April 12, 2022, ACC token deployer 0x8045f108f39a3b4efa77b00d166a44479691902e minted 7900,000 ACC tokens to 0x8045f108f39a3b4efa77b00d166a44479691902e.

secondary title

Industrial blockchain

There is a bug in the Treasure DAO NFT market, and the team is currently fixing it

GameFi and NFTs

There is a bug in the Treasure DAO NFT market, and the team is currently fixing it

According to Treasure DAO, an NFT market on Arbitrum, there are problems in the NFT market that cannot be displayed on the main page of the NFT series when the pending order is sold, and the floor price is not updated in time. The team is currently fixing the bug. Treasure DAO means Bug or related to subgraph.

According to Treasure DAO, an NFT market on Arbitrum, there are problems in the NFT market that cannot be displayed on the main page of the NFT series when the pending order is sold, and the floor price is not updated in time. The team is currently fixing the bug. Treasure DAO means Bug or related to subgraph.

Developer: BAYC token contract owners have the right to mint an unlimited number of new BAYC

Web3 developer foobar tweeted that Bored Ape Yacht Club (BAYC) token contract owners (personal wallets, not multi-signatures) have the authority to mint an unlimited number of new BAYC. Once it is hacked or phished, it could result in thousands of new BAYC being minted and dumped on the market.

CryptoPunk #3825 may be traded at 0.1 ETH due to misoperation, the previous transaction price was 80 ETH
According to feedback from users in the encryption community, the NFT is one of 6039 male Punks, and the transaction price on March 22, 2022 was 80 ETH. This ultra-low price transaction may be due to misoperation, and the transaction was executed by "flashbot" .

Premier League Officially Submits NFT and Digital Asset Trademark Applications

Fung, an Amsterdam-based encrypted payment infrastructure startup, has completed a $2.7 million Pre seed round of funding, led by Global Founders Capital, Kingsway Capital, Kindred Capital and Karatage. (sifted)

Investment and Financing

Sports Media Production Company Regions of Sports Completes $50M Series B Funding Led by Shamrock Capital

Regions of Sports, a sports media production company, announced the completion of a US$50 million Series B financing, led by Shamrock Capital, with participation from Elysian Park Ventures and Cerro Capital. Ameeth Sankaran, CEO of Religion of Sports, said that the company’s post-investment valuation will exceed $100 million, and the financing will be used to expand more innovative projects, such as creating NFTs for athletes.
It is reported that Regions of Sports was co-founded by Tom Brady, Michael Strahan and film producer and entrepreneur Gotham Chopra. (Axios)

Encrypted payment company Fung completes US$2.7 million Pre seed round financing, led by Global Founders Capital and others

Fung, an Amsterdam-based encrypted payment infrastructure startup, has completed a $2.7 million Pre seed round of funding, led by Global Founders Capital, Kingsway Capital, Kindred Capital and Karatage. (sifted)

Web3 game start-up GRID completes $2.3 million in seed round financing, Blockchain Founders Fund and others participate

Rainfal, a centralized data monetization platform focused on privacy by design, announced the completion of a $1 million Pre seed round of financing.

Negentropy Capital Partners with BikeRush to Invest $2 Million in Singapore-based Boring Games Studio

Negentropy Capital and BikeRush, a Ride-to-Earn project, invested US$2 million in the Singapore game studio Boring Games Studio, and will jointly create P2E strategy card and football management games. At the same time, the upcoming HeroRush card strategy game will integrate BikeRush Some Token economic models continue to expand BikeRush's Web3 positive externality ecosystem.

Education metaverse platform Learnoverse raised $1 million, Mistletoe and others participated in the investment

Learnoverse, an educational metaverse platform under BitDegree, completed $1 million in financing, with participation from Mistletoe and others. Specific financing information has not yet been disclosed.
It is reported that BitDegree currently has more than 1 million users. By providing a virtual world specially designed for Web3 learning, the learning content and experience are gamified, where learners, lecturers and brands can interact and impart knowledge through NFT. Additionally, the concept of Learn & Earn in Education will be used to reward learning and motivate students to complete courses. (PR Newswire)

Rainfall Completes $1 Million Pre Seed Round Financing, Charly Kleissner and Others Participate

Rainfal, a centralized data monetization platform focused on privacy by design, announced the completion of a $1 million Pre seed round of financing.
Charly Kleissner, co-founder Toniic, Katapult Foundation, D3Jubilee, Brigitte Mohn and others participated in the investment. Funding will accelerate the expansion of partnership programs, expand the technology platform and further build the team. (City AM)

Charly Kleissner, co-founder Toniic, Katapult Foundation, D3Jubilee, Brigitte Mohn and others participated in the investment. Funding will accelerate the expansion of partnership programs, expand the technology platform and further build the team. (City AM)

It is reported that PancakeSwap is a decentralized exchange platform (DEX) based on the BNB chain, which adopts the automatic market maker (AMM) model and allows users to trade, exchange and mortgage BEP-20 Token.

Binance Labs Announces Strategic Investment in PancakeSwap

According to official news, Binance Labs announced a strategic investment in PancakeSwap’s utility and governance Token CAKE. The specific investment amount has not yet been disclosed.
It is reported that PancakeSwap is a decentralized exchange platform (DEX) based on the BNB chain, which adopts the automatic market maker (AMM) model and allows users to trade, exchange and mortgage BEP-20 Token.

global regulation

global regulation

Japan’s Ministry of Justice Proposes Amending Laws to Confiscate Crypto Assets Used for Money Laundering
The Japanese Ministry of Justice has announced amendments to the Organized Crime Punishment Act to confiscate crypto assets used for money laundering. The Japanese Ministry of Justice plans to gradually formulate the specific content of the amendment bill after discussions at the Rule of Law Review Conference in mid-2022. For example, it may discuss how to deal with cryptocurrency-specific "private keys" and other structures.

Currently, Japanese law lists "real property, movable property and monetary claims" as assets that can be confiscated. Movable property refers to cash, commodities, household items, etc. other than real property such as land and buildings, and money claims refer to deposits, accounts receivable, and loans, and cryptocurrencies do not yet fall into these categories. (CoinPost)

Foreign media: The Indian government is about to issue tax guidelines related to cryptocurrencies
The Indian government plans to issue a set of guidelines by July 1 after revising the scope and definition of VDAs for effective tax administration of virtual digital assets (VDAs). The Central Board of Directors of Direct Taxes (CBDT) has reportedly been asked to prepare the guidelines.
The source said the government is unlikely to reduce the 1% tax deduction at source (TDS) that applies to almost all digital asset transfers, arguing that TDS will help track possible profits in cryptocurrency transactions but does not want to show it in income tax returns. people.
Some industry representatives, including CoinSwtich Kuber CEO Sumit Gupta, have asked the government to reduce the TDS to a range of 0.01% to 0.05%.

Profits from cryptocurrency trading (including NFTs) will be subject to a 30% capital gains tax under the 2022-23 federal budget, a rate that is also unlikely to be reduced. With some exceptions (including for hospitals using blockchain technology), the Treasury Department does not intend to provide exemptions. (Crypto Potato)

Uganda's central bank has changed its attitude towards the cryptocurrency industry, encouraging related companies to enter its regulatory sandbox
Uganda’s central bank is open to the idea of ​​cryptocurrency businesses participating in its regulatory sandbox, inviting members of the Blockchain Association of Uganda (BAU) to share their knowledge with the central bank.
In June 2021, the bank launched a regulatory sandbox framework to allow fintech companies to test "innovative financial solutions" in a controlled environment, hoping to promote the development of domestic electronic payments and other digital financial services.

character * voice

character * voice

Ethereum core developer: The mainnet merger date needs to be determined after the two testnets are merged

Tim Beiko, the core developer of Ethereum, said that before the merger of the main network, the merger test of the two test networks will also be carried out. Therefore, the mainnet merger date cannot be determined until the two testnets are merged.

BAYC co-founder: Discord is not for the Web3 community

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