Web3 Daily | Multichain co-founder claims team is healthy and main business is operating normally; CCTV removes video webpage quoted in the 'bull market optimism' tweet by CZ.
Top News:
1. OpenAI's venture capital fund, OpenAI Startup Fund I, has raised over $175 million.
2. CCTV has removed the video webpage that was previously referenced in the "Bull Market Optimism" article about CZ.
3. Multichain: Some cross-chain routes are currently unavailable due to uncontrollable factors, and the time for service restoration is unknown. The company claims that its team is currently intact and its main business is operating normally.
4. Federal Reserve Meeting Minutes: Unlikely to cut interest rates, disagreement on whether to further raise rates or not;
5、Bitcoin briefly fell below $26,000;
6. The South Korean parliament passed a bill requiring legislators and senior public officials to register virtual assets.
Funding Information
Bloomberg: OpenAI's Venture Capital Fund Completes $175 Million Fundraising
According to Bloomberg, a US Securities and Exchange Commission (SEC) filing shows that ChatGPT developer OpenAI's venture capital fund, OpenAI Startup Fund I, has raised over $175 million.
Kosmos Ventures has established a new blockchain fund called Zero Age Ventures, which has raised $10 million in funding.
Australian venture capital fund Kosmos Ventures' team announced the launch of a new investment fund, Zero Age Ventures, focusing on blockchain technology. Zero Age Ventures will continue to manage Kosmos' new investments. After successfully completing the initial transaction, General Partners pledged up to $10 million in proprietary capital, and Zero Age Ventures will allocate a significant amount of funds in 2023 and 2024. Kosmos was initially established in 2017 and made a lot of seed investments in protocols such as Solana, Algorand, Polkadot, and Fantom.
新加坡 Avatar 通信公司 GoodGang Labs 成 200 万美元种子轮融资，Kakao Investment 参投
Singapore-based Avatar communication company GoodGang Labs has raised $2 million in seed funding, with participation from Kakao Investment.According to Technode, Singaporean Avatar communication company GoodGang Labs announced the completion of a $2 million seed round of financing, with participation from Kakao Investment. The funds from this round will be used to build the 3D environment kiki town. GoodGang Labs will also launch GangHouse for Web3, allowing users to communicate in real-time using NFTs as a medium. GoodGang Labs has previously received investments from Naver, Kimgisa Lab, Naver Z, and Planetarium, with specific amounts undisclosed.
区块链能源交易平台 UrbanChain 完成 525 万英镑 A 轮融资，Eurazeo 领投 Translation:
About Manchester reported that UrbanChain, a blockchain energy trading platform, announced the completion of a £5.25 million Series A funding round led by Eurazeo. UrbanChain currently operates a P2P energy trading platform in the UK, which matches renewable energy generators with consumers using blockchain and AI systems, providing users with reasonable electricity pricing services and ultimately reducing the electricity bills of businesses and households.
隐私区块链 Dusk Network 向零知识身份验证方案 Outdid 投资 5 万美元 Translation:
The privacy-focused blockchain company Dusk Network has announced a $50,000 investment in Outdid. The London-based startup is using NFC and zero-knowledge proof technology to verify passport identities without revealing any personal information, which helps reduce identity fraud. Dusk Network stated that its KYC solution, Citadel, will benefit from integrating Outdid's technology into its tech stack.
Project Updates
央视网已下架 CZ 此前「牛市看涨」推文引用的视频网页 Translation:
CCTV has removed the video webpage quoted in CZ's "bull market optimism" tweet
China Central Television (CCTV) has removed the video webpage referenced in the "bull market optimism" tweet about CZ. Currently, when attempting to access the webpage, it displays "may be due to network issues or the page does not exist, please try again later." According to BlockBeats, CZ had previously referenced a CCTV news video clip in a tweet yesterday, stating "CCTV just aired a segment on cryptocurrency. This is a big deal. The Chinese community is very excited. Historically, such coverage has led to a bull market."
欧易 OKX 完成 APP 升级，为香港用户提供虚拟资产现货交易服务
Translation:OKX completes APP upgrade, providing virtual asset spot trading services for Hong Kong users
According to official sources, OKX has completed its app upgrade to provide secure and reliable virtual asset spot trading services for Hong Kong users, in compliance with the regulations of Hong Kong Virtual Asset Service Providers (VASPs). The platform supports Hong Kong users to buy, sell, and hold 16 mainstream virtual assets. Lennix Lai, Chief Commercial Officer of OKX, said, "We will continue to work with Hong Kong regulatory authorities to advance license applications under the new VASP system and actively support government policy goals to help Hong Kong become a thriving virtual asset center."
The Multichain official article on cross-chain routing protocol stated that although most of the cross-chain routing of the Multichain protocol is running well, some cross-chain routing cannot be used due to force majeure factors, and the time for service recovery is unknown. After the service is restored, the pending transactions will be automatically credited. Multichain will compensate users who are affected during this process, and the compensation plan will be announced later.
BlockBeats previously reported that on May 24th, according to feedback from multiple communities and social media users, there were abnormal delays in cross-chain funds arrival in Multichain. Multichain had announced that it would upgrade and complete it within 24 hours, but currently, many users have reported that their cross-chain funds have been delayed for up to 48 or even 72 hours and have not been credited.
Multichain联创：目前团队健全，主业务正常 Translation:
Multichain Joint Creation: The current team is sound and the main business is normal
The co-founder of Multichain, Alfred Xu, responded in the official community that "the Multichain team is currently healthy and the main business is normal. Transactions that need to be processed will be automatically credited once the routing is restored, and the team is working normally."
Binance announced that it will temporarily suspend deposits of the following bridged token networks while waiting for clarification from the Multichain team: POLS-BSC, ACH-BSC, BIFI-FTM, SUPER-BSC, AVA-ETH, SPELL-AVAXC, ALPACA-FTM, FTM-ETH, FARM-BSC, DEXE-BSC. Deposits of these assets on other networks remain open.
Deribit will see $3.6 billion worth of Bitcoin and Ethereum options contracts expire this Friday.
According to The Block, bitcoin and ethereum options contracts worth $3.6 billion will expire on Deribit this Friday. Of these, bitcoin options contracts are worth $2.3 billion, with a put-to-call ratio of only 0.38, and unfinished call options may be more than two and a half times more than put options. Ethereum options contracts are worth $1.3 billion.
Luuk Strijers, Chief Commercial Officer of Deribit, said that the expiring options are huge, but this does not mean that the market has reason to panic. "Implied volatility is still at its lowest level, with DVOL trading volume of 50 for bitcoin and ethereum, and even lower for short-term trading, but slightly rising." "Bitcoin and ethereum are at the same level, which is rare in history."
Base releases mainnet roadmap, no plans to issue Token
Coinbase's Layer2 network Base has released its mainnet roadmap. Base is preparing to launch its mainnet, and the release standards include stable proof-of-testnet, successful Bedrock upgrade, completion of internal review and external audit, and Base reminds that there is no plan to issue network tokens.
In addition, after the mainnet genesis block is generated, the Genesis Window will be opened for developers to deploy DApps on the Base mainnet. During this period, Base will focus on developers and provide support.
According to Twitter user @BofkUR, "Stargate appears to have a vulnerability that allows large holders to profit 1000U-2000U each time they cross-chain using the vulnerability. It seems that they add millions of dollars in assets to the liquidity pool, then immediately cancel to make the pool unbalanced, and then cross-chain in the same block as the cancellation. He has already made over 200 trades recently." The related address is: 0x013b646fe54562a3ff6e3469fcc8c4efc2337656.
According to official sources from NAGA, the Web3 gaming platform will launch commercial operations in June this year. The platform focuses on the Web3 gaming ecosystem and is different from other gaming platforms in the market as NAGA provides open data and a one-stop Web3 gaming service. It is an aggregated entrance that provides the latest information, game data analysis, game NFT transactions, launchpads (Airdrop), and customized game wallets.
BNB Chain is expected to undergo the Luban upgrade on June 12th.
BNB Chain will undergo a network upgrade "Luban" at block height 29,020,050, expected to take place on June 12th at 5:30 AM Beijing time. The Luban hard fork includes three BEPs: BEP-126, BEP-174, and BEP-221. Validators and full node operators on the mainnet should switch their software versions to v1.2.4 before June 12th, 2023.
BEP-126 introduces the "Fast Finality" mechanism, which ensures that once a block is finalized on the network, it cannot be reversed. This reduces the possibility of bad actors attempting chain reorganizations. BEP-174 proposes "Cross-Chain Relay Management" to mitigate any potential security issues in the BSC bridge. BEP-221 proposes the "CometBFT Light Block Validation" system, which suggests adding new contracts to blockchains using CometBFT technology.
DATA
The probability of a 25 basis point rate hike by the Federal Reserve in June is 34.2%
Following the release of the minutes of the May meeting of the Federal Reserve, according to CME's "FedWatch": the probability of the Fed maintaining interest rates in June is 65.8%, and the probability of raising interest rates by 25 basis points to the range of 5.25%-5.50% is 34.2%.
Bitcoin falls below $26,000 in the short term
According to OKX market data, Bitcoin has briefly dropped below $26,000 and is currently trading at $26,020.77, with a 24-hour decrease of 4.15%.
Data: Circle Treasury Transfers 80 Million USDC to Crypto.com
According to monitoring data from Whale Alert, at 10:16:59 Beijing time today, Circle Treasury transferred 80 million USDC to the cryptocurrency trading platform Crypto.com.
Regulation
The governor of Florida, DeSantis, who is participating in the 2024 US presidential election, stated that "people should be able to use Bitcoin for transactions. If I become the US president, I will not issue a central bank digital currency (CBDC). The Federal Reserve needs to focus on stabilizing the US dollar."
美国众议院议长：债务上限谈判会达成结果，不会出现违约情况 Translation:
According to CCTV News, Kevin McCarthy, the Speaker of the United States House of Representatives, held a press conference to provide the latest news on the debt ceiling negotiations. McCarthy stated that there are still differences between the two sides on some issues, but negotiators have gone to the White House to try to complete the negotiations. McCarthy believes that he has the ability to make progress on the US debt ceiling issue, and that the negotiations will result in a solution without a default on the debt, and that the US will not solve the debt ceiling issue by increasing taxes. In addition, McCarthy reiterated his position that the US government should control spending below last year's levels in the next fiscal year.
Minutes of the Federal Reserve Meeting: Unlikely to Cut Interest Rates, Divided on Further Hikes
According to the minutes of the May meeting of the Federal Reserve, officials have different opinions on whether to further raise interest rates (the minutes suggest that there are relatively more hawks), and it is unlikely to cut interest rates. Some attendees suggested that the Fed "should be prepared to use its liquidity tools" to offset the damage caused by possible defaults. Powell: does not support stopping interest rate hikes, whether to raise interest rates in June or skip and raise in July depends on the data in the next three weeks. Bosstick said that he does not want to be trapped in a specific rate adjustment pace (skipping/raising interest rates in June), and it is best to consider cutting interest rates next year. (Jin10)
The White House: Fitch's report has more evidence that defaulting on debt is not an option
As the deadline for raising the debt ceiling approaches (June 1st), Fitch Ratings announced on Thursday that it has placed the United States' "AAA" rating on negative watch to reflect the increasingly deteriorating political relationship that is hindering the resolution of the debt ceiling crisis. Although the rating agency believes that the possibility of default is "very low," if it does occur, it will downgrade the US rating to AA- (consistent with Ireland and South Korea).
The White House responded that Fitch's report emphasizes the need to reach a bipartisan agreement and that there is more evidence that defaulting on debt is not an option. The US Treasury Department stated that the game of chicken surrounding the debt ceiling is causing serious harm to businesses and American families, raising the short-term borrowing costs for taxpayers, and threatening the US credit rating. Tonight's warning underscores the need for Congress to take swift action to raise or suspend the debt ceiling and avoid the need for an artificially created economic crisis. (Jin10)
The Montenegrin court extends the detention period of Do Kwon in Montenegro
韩国国会通过要求立法者和高级公职人员登记虚拟资产的法案 Translation:
According to News 1, the South Korean National Assembly passed two bills today requiring legislators and senior public officials to register their virtual assets. The bills are the "National Assembly Law Amendment" and the "Public Officials Ethics Act Amendment". The 22nd National Assembly members will be required to register their holdings of cryptocurrency in their property affairs, and the 21st National Assembly members must register the amount and changes of cryptocurrency they acquired and held from the beginning of their term to May 21st of this year by the end of June.
According to a report by CoinDesk, the European Systemic Risk Board (ESRB), chaired by Christine Lagarde, President of the European Central Bank, warned in a report on Thursday that although MiCA sets governance, licensing, and reserve requirements for participants such as wallet providers and stablecoin issuers, it overlooks the risks in the field of crypto lending and mortgage, as well as the high leverage in the digital asset market, which may pose significant risks to consumers. The report states that DeFi developers may need to comply with specific regulations involving smart contract design and creation based on a policy choice. It proposes the possibility of mandatory code audits, pharmaceutical-style intellectual property restrictions, and rules for "oracles" that transmit real-world data to automated software.
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