Web3 Daily | OneKey receives HKD 500,000 funding from Hong Kong Cyberport; Multichain suspected to have cross-chain asset delay.
Top News:
1. Hardware wallet OneKey receives HKD 500,000 funding from Cyberport and will apply for a cryptocurrency license in Hong Kong.
2. Seven people were sentenced for theft after illegally accessing someone else's computer and stealing virtual currency worth 28 million yuan.
3、Multichain may have asset cross-chain delay issues;
4、Sui chain's on-chain transactions are weak, possibly due to a lackluster ecosystem compounded by a decline in coin price;
5. ZhongAn Bank in Hong Kong plans to launch virtual asset trading services for retail investors.
6. The Bitcoin domain name project BTCDomain has completed its angel round of financing.
Funding Information
Vertex Labs acquires NFT series HAPE PRIME studio Digimental Studio for $12 million
According to Chainwire, Vertex Labs, a provider of metaverse, Web3, and AI infrastructure, has completed the acquisition of NFT series HAPE PRIME development studio Digimental Studio for $12 million. With the acquisition of Digimental, Vertex Labs will introduce a staking program for its HAPE community members.
Moonfire Ventures subsidiary Fund II has completed a $115 million financing round and will invest in AI, Web3, VR and other fields.
According to techfundingnews, venture capital firm Moonfire Ventures announced that its Fund II has completed a $115 million financing. It is reported that Moonfire Ventures' AI-driven approach allows them to review an astonishing number of companies every week and find the most promising founders in Europe. By leveraging next-generation technologies such as AI, Web3, and AR/VR, Moonfire Ventures aims to transform key industries including health, work, finance, and gaming. Web3 projects previously invested in by Moonfire Ventures include Goals, an NFT football game development company, Sesame Labs, a Web3 marketing platform, and GOALS, a blockchain football game.
Hardware wallet OneKey has received a HKD 500,000 grant from Hong Kong Cyberport and has been provided with office space by Cyberport. OneKey is actively communicating with the local government in Hong Kong and is focused on applying for relevant crypto licenses in Hong Kong.
According to Yahoo Finance, Web3 game ecosystem Metagame Industries has completed a strategic round of funding with a valuation of nearly $100 million. Participants in the funding round include Sui blockchain developer Mysten Labs, game developer Funplus/Xterio Ecosystem Fund, and others. The new funding round for Metagame Industries aims to accelerate the development of its game Abyssworld. Abyss World is the first AAA game in the Sui ecosystem, in which Mysten Labs is involved. Currently, Abyss World has received 120,000 pre-orders on the global Steam wish list. The project has started a whitelist invitation activity and will conduct an IDO in the near future.
Bitcoin domain name project BTCDomain completes angel round financing
According to official sources, the Bitcoin ecological domain name project BTCDomain has announced the completion of its angel round of financing. Investors include Element, LK Venture founder WangFeng, Bitrise Capital founder Kevin Shao, and investment firm Waterdrip Capital. After this round of financing, BTCDomain will further develop the application scenarios of Bitcoin domain names, and promote the wider development of the Bitcoin ecosystem in areas such as ZK parsing, wallet payments, on-chain websites, and decentralized social networking.
According to CoinDesk, Num Finance has completed a $1.5 million financing round with participation from stablecoin developer Reserve, H2O Scouter Fund, Ripio Venture, VC3 DAO, and Auth0 CTO Matias Woloski. Num Finance stated that it will expand its stablecoin products, including the Brazilian real, Colombian peso, Mexican peso, and Bahraini dinar, in the next month, and will also develop its real-world asset (RWA) products.
According to TechCrunch, digital bank Onyx Private has announced the completion of a $4.1 million financing round, with participation from Village Global, Y Combinator, Global Founders Capital, and others. It is reported that Onyx Private currently partners with Piermont Bank to provide digital banking services, and offers users high-yield, fixed-income investment portfolio products in terms of investment. Its investment services are managed by Helium Advisors, and brokerage accounts are cleared through Pershing, a clearinghouse owned by New York Mellon Bank.
Project Updates
Musk: Not recommending anyone to bet everything on Dogecoin
Elon Musk said during a virtual conference hosted by The Wall Street Journal, "I do not recommend anyone to buy cryptocurrency or bet everything on Dogecoin (DOGE)."
Hong Kong Zhongan Bank plans to launch virtual asset trading services to retail investors
According to fintechnews.hk, ZA Bank in Hong Kong has announced plans to offer virtual asset trading services to retail investors. Through collaboration with local licensed virtual asset trading platforms and seeking regulatory approval, ZA Bank will enable retail investors to buy and sell virtual assets using fiat currency through the ZA Bank App.
As a licensed bank in Hong Kong, ZA Bank will adhere to strict customer safety and regulatory compliance standards. After obtaining the necessary regulatory approval for virtual asset trading services, ZA Bank will work with third-party suppliers to implement higher security guidelines and comply with strict anti-money laundering (AML) and KYC regulations. In addition, ZA Bank will provide user education on the characteristics and risks associated with virtual asset trading.
Web3 knowledge graph protocol 0xScope stated on its social platform that an address (starting with 0xb4df) related to the Multichain official team transferred 494,200 MULTI tokens (worth $3.17 million) to the Gateio trading platform one hour ago. Previously, several users in the Multichain community reported that their cross-chain assets had not been credited. Multichain responded in the official community that the backend node upgrade took longer than expected, and most routes were still working normally, but some routes (Kava, zkSync, Polygon zkEVM) were temporarily suspended. All affected assets will be credited after the upgrade is completed.
EthStorage won first place in the EDCON 2023 Super Demo at the Ethereum Conference.
Cosmos ecosystem Neutron announces token issuance plan, will airdrop to Cosmos Hub stakers
Cosmos ecosystem Neutron announced its Token NTRN issuance plan: airdrop to Cosmos Hub stakers starting on May 24th; liquidity auction from May 24th to May 31st; liquidity auction participants can choose to participate in liquidity mining from May 31st to June 5th; NTRN issuance plan ends on June 5th, and tokens from airdrop and liquidity auction will be linearly released within three months. Locked tokens will still have voting rights, and liquidity mining rewards can be withdrawn immediately. BlockBeats previously reported that on May 12th, Neutron, the Cosmos ecosystem's permissionless CosmWasm smart contract platform, went live on the mainnet, becoming the first Cosmos blockchain to launch using "Replication Security".
Ripple CEO: Plans to use $1 billion cash reserve to achieve business growth
According to a report by cryptonews, Ripple CEO Brad Garlinghouse stated that "we have over $1 billion in cash on our balance sheet and we hope to use this cash for internal organic growth while achieving inorganic growth through acquisitions. Switzerland and the United Arab Emirates are attractive places for us to look for acquisition targets."
联合广场风投合伙人 Fred Wilson：若美国禁止 Web3，我们将加倍投资
Translation:Union Square Ventures partner Fred Wilson: If the US bans Web3, we will double our investment
USV (Union Square Ventures), a US venture capital firm, partner Fred Wilson said during USV's LP quarterly conference call that when asked whether US regulatory pressure on Web3 would lead to USV reducing its Web3 investment scale, Wilson responded that when they want to ban it, he would choose to double down on investment. The most powerful technology will create a wave of fear throughout the system, and when you see this fear in their eyes, you should invest in the business that causes this fear.
Opside Pre-alpha incentive testnet officially launched
According to official sources, the Opside Pre-alpha incentive test network has officially launched on May 24th Beijing time and is expected to run for 3 months. During this period, all roles in the ecosystem (regular users, node validators, miners, and developers) can contribute their efforts to earn points as rewards. The points earned during the test network can be exchanged for mainnet tokens on Opside mainnet.
Opside states that as a decentralized ZK-RaaS network, PoW ZKP mining is also one of Opside's biggest highlights. This round of testnet aims to test the hybrid consensus mechanism of PoS and PoW, one-click generation of ZK-Rollup, implementation of a usable ZK-Rollup execution environment, support for various ways of asset flow between different layers and ZK-Rollups, and other functions to enrich the application ecosystem. Currently, Opside has established deep strategic partnerships with multiple well-known projects in the industry to jointly build a long-term, prosperous, and stable ZK ecosystem.
9GAG CEO: May Launch a Token Called "MEME" and Has Hired a Legal Team for This
9GAG CEO Chan Chun Sing announced on his social media platform that he may launch a token called "MEME" for his NFT project Memeland. In order to ensure that the token issuance complies with relevant laws and regulations, the Memeland project has partnered with Tju Liang Chua and his law firm Drew & Napier (Tju Liang Chua currently serves as legal counsel for the Ethereum Foundation). In addition, Chan Chun Sing reiterated that 9GAG's goal is to make Memeland a top Web3 company and make MEME coin a top token.
零知识证明初创公司 RISC Zero 与模块化 L2 协议 Layer N 联合推出零知识欺诈证明系统
Translation:The zero-knowledge proof startup RISC Zero has announced a partnership with modular L2 protocol Layer N to launch a zero-knowledge fraud proof system. The system improves blockchain performance while ensuring reliability and security by porting Layer N's execution environment to RISC Zero's zk virtual machine. In the future, zkVM will also be compatible with other execution layers such as EVM, SVM, and WASM. BlockBeats previously reported that in August of last year, RISC Zero completed a $12 million seed round of financing, led by Bain Capital Crypto, with participation from Geometry, D1 Ventures, and Cota Capital.
DATA
According to Glassnode data, the current Bitcoin seller risk ratio is close to its historical low. Glassnode's Chief On-chain Analyst @_Checkmatey_ explained that this data indicates that investors are no longer willing to realize profits or losses within the current price range, which usually happens when both buyers and sellers are exhausted, indicating that a major market trend is about to come. It should be noted that in November 2018, the value of this data was also very low, indicating that traders were exhausted at this price range, but did not tell us which direction they hoped the price would fluctuate.
According to the Sui browser information, the majority of blocks on the new public chain Sui currently only contain one transaction, indicating weak transaction activity and severely insufficient usage. In addition, the prices of SUI and its ecosystem project tokens have not performed well. As of the time of writing, SUI is trading at $0.9948, a 54.11% decrease from its opening high of $2.16. The Sui ecosystem project SUIA is currently trading at $0.084367, a 76.58% decrease from its IDO cost price of $0.36. The DEX project Cetus, which had 108 million SUI tokens involved, is now trading at $0.07, a 52.07% decrease from its opening high of $0.1469.
Data: SmartMoney address bought about 230 billion PEPE yesterday and 3.98 billion RFD today
According to data from LookOnChain, a certain SmartMoney address exchanged 200 ETH for approximately 2.3 trillion PEPE tokens 15 hours ago, and exchanged 165 ETH for approximately 3.98 billion RFD tokens 2 hours ago. LookOnChain explained that the address has made a profit of 102 ETH through RDF transactions in the past 2 days.
According to CryptoSlam data, the NFT sales volume on the Bitcoin network's secondary market in the past 30 days has exceeded $170 million, a 400.29% increase compared to the previous period, surpassing Solana and Mythos to become the second highest NFT sales volume, with the latter having transaction volumes of approximately $54 million and $35 million respectively in the past 30 days. Ethereum still ranks first with a sales volume of $390 million during the same period. According to the latest data from Dune, the total amount of Ordinals inscriptions minted has exceeded 8.9 million, with transaction fees exceeding $40 million.
Bitcoin Volatility Index rose to 55.73 yesterday, with a daily increase of 4.4%.
The BitVol (Bitcoin Volatility) index, launched by financial index company T3 Index in collaboration with Bitcoin options trading platform LedgerX, rose to 55.73 yesterday, a 4.4% increase from May 23rd (53.38).
BlockBeats Note: BitVol Index measures the 30-day expected implied volatility derived from tradable Bitcoin options prices. Implied volatility refers to the volatility implied by the actual option price. It is the volatility calculated using the B-S option pricing formula, with the actual option price and other parameters except for volatility plugged into the formula to derive the volatility.
The actual price of an option is formed by the competition of many option traders. Therefore, implied volatility represents the market participants' views and expectations of the future market, and is considered the closest to the true volatility at that time.
Regulation
侵入他人计算机盗取虚拟币套现 2800 万，7 人因盗窃罪获刑 Translation:
According to a report by The Paper, the first large-scale coin theft case in Ningbo was recently prosecuted by the Jiangbei District Procuratorate. After the court trial, 7 defendants were sentenced to 3 to 4 years and 10 months in prison for theft.
It is reported that from June to December 2021, the defendants, including Su Moumou, posted websites implanted with Trojan horse software on the Internet to lure others to download. Once someone clicked to download, their computer was invaded and remotely controlled. Su Moumou and others could then manipulate the victim's computer and steal virtual currency from their account. At the same time, they also impersonated the victim to provide their friends with account information to receive virtual currency. The prosecution determined that the defendants used virtual currency to cash out a total of 28 million yuan.
The Federal Reserve introduces the "Twitter Financial Sentiment Index" (TFSI).
According to official sources, the Federal Reserve has published an article on its website titled "More than Words: Twitter Chatter and Financial Market Sentiment," introducing the "Twitter Financial Sentiment Index." The article states that four researchers from the Federal Reserve have constructed a new index to track market sentiment from a dataset of up to 4.4 million tweets. This is a new credit and financial market sentiment measurement indicator that helps predict changes in monetary policy stance.
A study has found that the Twitter Financial Sentiment Index (TFSI) is highly correlated with corporate bond spreads and other price- and survey-based financial condition measures. In addition, Twitter financial sentiment helps predict stock market returns the next day and has been found to contain information helpful in predicting changes in US monetary policy stance, such as the magnitude of contractionary monetary policy shocks signaled by a deterioration in Twitter financial sentiment the day before an FOMC statement release.
According to DL News, the trial of Tornado Cash developer Alexey Pertsev has been postponed until next year, but the official date of the trial has not yet been determined. The Dutch authorities arrested Alexey Pertsev in August last year on charges of concealing criminal funds flow and assisting money laundering through Tornado Cash. Pertsev was released on bail in April this year.
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