headlines

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headlines
SudoSwap will airdrop governance token SUDO today

Odaily News According to the official Twitter, SudoSwap will release the governance token SUDO later today and conduct an airdrop.

It is reported that SUDO tokens will initially be non-transferable, and this feature will be enabled through standard governance voting in the future.
Last week, CoinShares noted that weekly inflows into investment products that allow investors to bet on lower bitcoin prices hit their highest point since last July, while investment products that bet on higher ethereum prices stabilized inflow of funds. This dynamic highlights market pessimism for Bitcoin relative to Ethereum. (Seeking Alpha)
The survey further revealed that more than 30% of investors invested in Bitcoin and 28% invested in Ethereum. "The weighting of digital assets in portfolios has risen from a low to 1.1 percent, up from 0.7 percent in the October survey," the report said.
Last week, CoinShares noted that weekly inflows into investment products that allow investors to bet on lower bitcoin prices hit their highest point since last July, while investment products that bet on higher ethereum prices stabilized inflow of funds. This dynamic highlights market pessimism for Bitcoin relative to Ethereum. (Seeking Alpha)

Industry news

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Industry news
Central Bank: Digital RMB pilots have been carried out in many places, and relevant innovative applications will continue to be carried out in the future

Odaily News Since 2022, the digital renminbi pilot has made breakthroughs in many aspects. As of now, the People's Bank of China has launched digital renminbi pilots in parts of 17 provinces. In 2022, the pilot areas will carry out nearly 30 digital RMB consumption red envelope activities around the themes of "promoting consumption" and "low-carbon travel".

The People's Bank of China stated that in the future, it will continue to carry out innovative applications of digital renminbi to realize the interconnection between the digital renminbi system and traditional electronic payment tools, so that consumers can "scan with one code", and merchants can support various transactions without increasing costs as much as possible. Payment instrument. (Financial Association)
Philippine SEC Files New Draft Regulations Seeking More Powers to Regulate Cryptocurrency Industry
Odaily News The Philippine Securities and Exchange Commission (SEC) is seeking to bring cryptocurrencies under its jurisdiction under new draft rules and strengthen its oversight of the local cryptocurrency industry.
According to a report by local outlet Manila Bulletin on Jan. 25, the regulator has proposed for public comment draft rules related to financial products and services, which also include cryptocurrencies and digital financial products.

The SEC said in a statement that the draft rule would give effect to the newly signed law and give it "rulemaking, oversight, inspection, market monitoring and additional enforcement powers."

The guidance expands the definition of securities to include “tokenized securities products” or other financial products that use blockchain or DLT technology, including digital financial products and services that are accessed and offered through digital channels with their providers, and also Will be included in the regulatory scope of the SEC. (Cointelegraph)
Kazakh Senate Passes Bill Regulating Cryptocurrency Mining and Trading
Kazakhstan’s Senate has passed a bill aimed at regulating cryptocurrencies and related activities in the country. Along with other legal documents, the new Law on Digital Assets of the Republic of Kazakhstan creates conditions for the establishment of a crypto ecosystem in the country, according to local media reports.
Members of the upper house of parliament considered the omnibus bill earlier in January and decided to introduce certain amendments to it, and the lower house of parliament has already approved a version of the bill. However, President Kassym-Jomart Tokayev dissolved the House of Representatives on January 19 and called for early elections.

Senator Bekbolat Orynbekov said the Senate had all legislative power until a new lower house of parliament was elected. The Digital Assets Regulation and related acts constitute a single set of laws enabling the Kazakh head of state to fulfill his regulatory responsibilities for the mining of digital currencies and their circulation.

Tokayev has yet to sign the law and other necessary changes proposed by the senator, including amendments to Kazakhstan's laws on tax and other budget payments, judicial administration and administrative violations. It is reported that a key goal of the government is to regulate the activities of companies that issue digital currencies in the country. (Bitcoin.com)
Panama Supreme Court to Rule on Cryptocurrency Bill Partially Vetoed by President
Odaily News Panamanian President Laurentino Cortizo recently sent the cryptocurrency legislation passed last year to the High Court for review. He previously said that the bill violated the core principles of the constitution and was unenforceable. The Supreme Court must now decide whether to declare the legislation unenforceable or approve it with amendments.

According to an official statement, the government considers sections 34 and 36 of the bill to be unenforceable because they violate the state's principle of separation of powers by creating an executive within the government.

President Cortizo partially vetoed the bill last June, arguing that it was passed through an insufficient process. At the time, the president argued that the bill needed to do more to comply with new FATF-recommended rules aimed at improving fiscal transparency and preventing money laundering. (Cointelegraph)
Circle's December 2022 Reserve Report: Reserve Funding Exceeds $44.5 Billion
Odaily News USDC issuer Circle released a reserve report for December 2022. The report was audited by GrantThornton Accounting Group and detailed the composition of the stablecoin issuer Circle’s reserve treasury. Currently 44, 553, 543, 212 USDC is held in escrow accounts Backed by $44,693,963,701, a large portion of which is U.S. Treasury bonds.

Circle's Reserve Fund is registered as a government money market fund, the fund's equity is wholly owned by Circle and includes 14 different U.S. bonds worth more than $23.5 billion. The fund also holds $48.9 million in cash and another $33 million The dollars were due to the Fund, but were offset by "timing and settlement differences."

U.S. banks holding Circle's cash reserves include BNY Mellon, Citizens Trust Bank, Customers Bank, New York Community Bank, Signature Bank, Silicon Valley Bank and Silvergate Bank. (Cointelegraph)
New York Department of Financial Services (NYDFS) Investigates Cryptocurrency Exchange Gemini
In response to the collapse of FTX last November, Gemini stopped withdrawals from its Earn product.

Project News

Neither Gemini, the FDIC or NYDFS responded to requests for comment. (CoinDesk)

Project News
PoS validator Smart Stake will shut down its Secret Network validators on February 21
PoS verification service provider Smart Stake will close its Secret Network validator on February 21, and users will need to re-delegate to another validator. The reasons given by Smart Stake include complex validator operations on Secret, the cost/workload of operations, and recent events in the community.

Premier League Signs Licensing Agreement With Sorare, Allowing Sorare Users To Collect, Trade Player Digital Cards

Smart Stake is reported to be a staking and validator service provider that supports multiple networks, including Crypto.com, Polygon, Cosmos, and until recently the Secret Network.

Odaily News The Premier League (Premier League) has signed a four-year licensing agreement with fantasy football game Sorare, users will be able to collect and trade digital cards representing players from all 20 teams and be able to use them in Sorare games. Sorare will pay the Premier League tens of millions of pounds a year for the rights, according to people familiar with the matter. Under the agreement, the Premier League will also be entitled to a stake in Sorare. (Financial Times)

Odaily News The well-known e-sports player and anchor @Mongraal posted his BAYC casting game "Dookey Dash" score on Twitter. The screenshot shows that @Mongraal scored 807260 points, which is the highest score record of the game so far.
Well-known e-sports player Mongraal temporarily holds the record for highest score in BAYC foundry game Dookey Dash

Odaily News The well-known e-sports player and anchor @Mongraal posted his BAYC casting game "Dookey Dash" score on Twitter. The screenshot shows that @Mongraal scored 807260 points, which is the highest score record of the game so far.

It is reported that "Dookey Dash", which was launched on January 19, can only be played for three weeks, and the deadline is February 8. If no one beats @Mongraal's record by February 8th, he will get the Monkey Jimmy Key.

Meebits founder joins Doodles as advisor to its project treasury, DoodleBank

Odaily News Meebits founder @kaigani tweeted that he has joined Doodles as an advisor to its treasury DoodleBank. Kaigani said that he will help the Doodles team transform DoodleBank with a clearer vision, strategic direction, and fund roadmap, and contact the community for advice on how to fully Utilize feedback from DoodleBank, including a clear mission, charter and process, etc. DoodleBank currently holds about 2,940 ETH, worth approximately $4.7 million, of which 420 ETH was raised through the initial sale of Doodles. In addition, the secondary sales royalties of the NFT project will also be included in DoodleBank.
NFTb will burn 25% of NFTB tokens tomorrow

Odaily News According to the governance vote, the cross-chain NFT and DeFi platform NFTb will destroy 25% of the tokens on January 31. The total supply of NFTB will be reduced by 242 million.

Since the launch of Token Burn Mechanics 2.0 in August 2021, 22.3 million NFTBs have been burned from the total supply.
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Investment and Financing

Crypto security firm Hypernative closes $9M seed round led by boldstart ventures and IBI tech fund

Crypto security firm Hypernative closes $9M seed round led by boldstart ventures and IBI tech fund

VitaDAO completes $4.1 million in financing, with participation from Pfizer Ventures and others

Odaily News, Hypernative, a start-up company focused on cryptocurrency security, completed a $9 million seed round of financing, led by boldstart ventures and IBI tech fund, with Blockdaemon, Alchemy, Borderless, CMT Digital, Nexo and angel investors making strategic investments. Hypernative's platform monitors on-chain and off-chain data after the protocol is deployed to the blockchain to predict any potential exploit threats in real time. (TechCrunch)
VitaDAO completes $4.1 million in financing, with participation from Pfizer Ventures and others
Odaily News Decentralized autonomous organization VitaDAO completed $4.1 million in financing, Pfizer's venture capital department Pfizer Ventures, Shine Capital, L1 Digital, Balaji Srinivasan and others participated in the investment.
The VitaDAO-funded project focused on longevity and the aging process, supporting Turn Biotechnologies, a Stanford University spin-off company that makes mRNA drugs, and a University of Copenhagen study on understanding the effects of drugs on the aging process.

YGG Japan Completes 400 Million Yen Private Equity Financing, Square Enix, SEGA and Others Participate

YGG Japan Completes 400 Million Yen Private Equity Financing, Square Enix, SEGA and Others Participate

Hamster Network, a Web3 SaaS developer toolset platform, completes a $1 million seed round of financing

Hamster is a one-stop DevOps development and operation and maintenance tool. In the version released by Hamster this time, multiple contract templates such as Solidity 5 templates, NFT, and DAO are smoothly integrated. Users can choose the corresponding templates to quickly create smart contracts and a key deployment, and at the same time, Hamster can be used for contract detection and operation and maintenance, effectively improving the efficiency and quality of development.
Hamster is a one-stop DevOps development and operation and maintenance tool. In the version released by Hamster this time, multiple contract templates such as Solidity 5 templates, NFT, and DAO are smoothly integrated. Users can choose the corresponding templates to quickly create smart contracts and a key deployment, and at the same time, Hamster can be used for contract detection and operation and maintenance, effectively improving the efficiency and quality of development.
Hamster is currently open for public evaluation, users can register for the test and provide feedback in the corresponding channel of Hamster Discord.

Web3 financial reporting platform Elven completes seed round financing, led by ABCDE

Web3 financial reporting platform Elven completes seed round financing, led by ABCDE
Elven is an automated Web3 financial reporting platform that provides one-click transparent, compliant, and auditable financial reporting services for Crypto projects, investment institutions, and research institutions. At present, it has covered 7163 Tokens, 5534 NFT projects, 107 accounting entities have been identified, and the number of daily transactions exceeds 5 million.

According to official news from Odaily, Elven, the Web3 financial reporting platform, has completed its seed round of financing, led by ABCDE and participated by Zhongding Capital. The specific amount has not been disclosed.

Elven is an automated Web3 financial reporting platform that provides one-click transparent, compliant, and auditable financial reporting services for Crypto projects, investment institutions, and research institutions. At present, it has covered 7163 Tokens, 5534 NFT projects, 107 accounting entities have been identified, and the number of daily transactions exceeds 5 million.
BoundlessPay aims to establish a sustainable Web3 digital banking platform that provides cross-border transactions. The platform is based on the Cardano blockchain construction and supports cross-border collection, remittance, payment and settlement through USDT and Cardano USDA and other stable currencies. Instant foreign exchange and other services. (techcabal)

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character * voice

Vitalik took the RAI system as an example to discuss three solutions for using oracles to realize common pledge

Odaily News Vitalik Buterin recently released a proposal titled "Whether oracle machines can realize joint pledge, and how can a RAI-like system safely support pledged ETH". The article stated that one of the main challenges facing RAI is that it is difficult to find ETH holders who are willing to act as LPs, especially when interest rates are higher than the current level of about -5% to -10%. A major reason behind this issue is that currently RAI CDPs compete with staking as a source of yield. Some are exploring multi-collateral RAI as a solution to this problem. V God's view on this is: "DAI has already filled the niche market as an arbitrary (including "real world asset") multi-collateral algorithm stable currency, so it makes no sense for the RAI ecology to compete in this field. Therefore, it believes that only when "Multi-collateral" refers to an extremely narrow form of multi-collateral (ETH and pledged ETH), then making RAI (or forking) multi-collateral makes sense."

TRON founder Justin Sun says he will move to Hong Kong

Odaily News TRON founder Justin Sun replied to netizens on Twitter that he will move to Hong Kong, China to welcome the next bull market.