Web3 Daily | CZ submits application to court to dismiss CFTC lawsuit; a court in Wuxi publicly hears a case involving a suspected pyramid scheme by an exchange.
Selected News:
1. Musk: Renaming Twitter to X aims to promote ecological development and will help users manage their "financial world" in the future;
2. A court in Wuxi publicly tried a suspected pyramid scheme case involving more than 239 million yuan in transactions.
3. Yesterday, after a significant market fluctuation, whales panicked and sold WBTC and ETH.
5. Optimism is developing the OP Stack fault-proofing system, which includes error prevention programs, fault-tolerant virtual machines, and other components.
Project Updates
Twitter official website logo has been changed to "X", and tweets may be renamed "Xeet"
According to information displayed on the Twitter official website, the previous blue bird logo has been replaced with a new white background black letter X logo, but there have been no changes to the app. In addition, according to screenshots from some users, the current version of the Twitter Help Center has renamed "Tweet" to Xeet, but the Help Center is currently unable to open normally.CZ has submitted an application to the court to initiate a motion to dismiss the CFTC lawsuit
According to relevant documents, Binance and CZ recently filed a permission application with the US Northern District Court of Illinois, planning to submit a legal memorandum to initiate a motion to dismiss the lawsuit filed by the US Commodity Futures Trading Commission (CFTC). Binance requested to expand the 15-page limit of the legal memorandum to 50 pages. The document stated that the CFTC's legal team has expressed no objection to the request. According to the court rules, the legal memorandum supporting or opposing the motion shall not exceed 15 pages. However, Binance claimed that due to the complexity of the CFTC lawsuit, they need additional page space to refute it. As previously reported by BlockBeats, in March of this year, Binance and CZ were sued by the US CFTC in the Chicago Federal Court for allegedly violating trading and derivative rules. The CFTC stated that Binance did not register correctly and thus evaded certain obligations. The deadline for Binance and CZ to respond to the lawsuit is July 27, 2023.
Frax Finance founder: v3 version plan to go live within 30 days
The founder of Frax Finance, Sam Kazemian, stated in a Telegram response to community users that he hopes to launch the Frax v3 version within 30 days. The protocol is a stablecoin protocol that utilizes a hybrid algorithm.
Worldcoin is launching a limited-time free commemorative NFT minting on Zora.
Worldcoin announced on its official social media that it has launched a new NFT on the Zora platform to commemorate the release of its token. The NFT is available for a limited time for free, but users need to pay for the Gas cost. The minting will stop in about 6 days and 6 hours. Currently, 1995 NFTs have been minted.
Optimism developers are currently working on a fault-proof system for the OP Stack, which includes components such as the Fault Proof Program (FPP), Fault Proof Virtual Machine (FPVM), and Dispute Game. Additionally, the separation of FPP and FPVM allows for the same operating program to run on both FPVM and ZKVM, aiding in the implementation of ZK-based validity proofs for OP Stack ZKP and providing support for low-latency cross-chain bridges between different networks.
BAYC and SaaSy Labs collaborate to launch intellectual property tool "Made by Apes"
Bored Ape Yacht Club has announced a collaboration with SaaSy Labs to launch an IP (intellectual property) tool called "Made by Apes". Members can apply for unique on-chain licenses, register businesses or products (such as clothing, food, games, music, etc.). In addition, the platform can be used to verify and distinguish genuine products produced by BAYC and MAYC holders. It has already collaborated with Ape Beverage, Applied Primate, Artin Motion, Bored Media Group, and more community products will be launched in the future.
Layer2 interoperability protocol Connext has launched a token standard xERC20 (also known as ERC-7281) to reduce liquidity costs for token issuers and improve the security of bridged tokens. xERC20 (ERC7281) provides support for token issuers to manage bridges, set minting restrictions, and allow selected bridges to mint the same tokens. Connext says projects deploying xERC20s through Connext today will be fully compatible with the future finalized ERC-7281 specification for 1:1 token transfers across chains.
Sui and KuCoin Labs announced the winning projects of their summer hackathon, with a total of 30 teams receiving awards. The first prize was awarded to Desig, a multi-chain multi-signature solution, and Torai, a liquidity layer based on ZK. The winning projects covered DeFi & payments, infrastructure & tools, gaming & AIGC, NFT & social & DAO, with a total prize pool of $285,000.
马斯克：推特更名为 X 旨在推动生态发展，未来将帮助用户管理其「金融世界」
Translation:Musk responded to the Twitter renaming issue on social media, stating that Twitter was acquired by X Corp to ensure freedom of speech and to promote all of X's applications. This is not a simple company name change, but rather X's ecosystem doing the same thing. The name Twitter was meaningful at the time when information was only transmitted back and forth in 140 characters, like a bird chirping, but now you can almost post anything, including videos that last for hours. In the coming months, X will increase its ability to communicate comprehensively and manage the entire financial world. The name Twitter has no meaning in this context, so it must be bid farewell.
Arkham Intel Exchange has issued its first bounty reward, targeting Do Kwon's wallet.
Arkham Intel Exchange has approved its first-ever bounty hunt. Prior to this, the platform had issued a bounty requesting more information about former Terraform Labs CEO and current international fugitive Do Kwon. An anonymous blockchain detective and a detective using the pseudonym ErgoBTC discovered evidence of a crypto wallet belonging to Do Kwon, winning 9519.26 ARKM, worth approximately $4950. It is reported that Arkham Intel Exchange has begun operating with 26 bounty tasks, with rewards ranging from 1k-100k ARKM ($500-$50k), and most of the reward tasks are related to hacking incidents. The largest bounty task (100k ARKM) is investigating the FTX crash in November 2022, where a hacker attack reported by FTX resulted in a loss of over $415 million in cryptocurrency.
Tether has authorized the issuance of 90 million USDT on the Kava network.
The stablecoin issuer Tether has authorized the issuance of 90 million USDT on the Kava network, of which 50 million USDT are currently authorized but not yet issued. As previously reported by BlockBeats, the native USDT issued on the Kava network went live on July 7th. The native USDT is being issued on over 60 Cosmos application chains.
Treasure's project official account was hacked and has been recovered.
According to official news from the decentralized gaming ecosystem Treasure on the Arbitrum network, the "Play on Treasure" and "Bridgeworld" official Twitter accounts have been hacked. Please do not interact with any phishing links posted by them. Efforts are being made to regain access. There are no airdrops, new minted TreasureTags, or any other plans today. As of the time of writing, the latest update shows that account access has been regained. Users need to remain highly vigilant and pay attention to asset security.Privacy network Iron Fish launches community Grants programIron Fish, a privacy network industry practitioner, announced the launch of its community Grants program. The program aims to fund builders, creators, and researchers who share the vision of Iron Fish. Iron Fish specifically mentioned its interest in projects that can bridge Iron Fish with other blockchains. Interested projects can now submit their applications on the official interface.
CZ: Binance will start offering comprehensive services on a new platform in Japan in August.
The founder of the cryptocurrency trading platform Binance, CZ, has announced that Binance will begin offering comprehensive services on a new platform in Japan in August. As previously reported by BlockBeats, Binance announced in November 2022 that it had acquired 100% of the shares of the Japanese cryptocurrency trading platform Sakura Exchange BitCoin (SEBC). With this acquisition, Binance has entered the Japanese market and become an entity regulated by the Japanese Financial Services Agency (JFSA).
According to The Block, BDO accounting firm released a report in April 2022 stating that "no issues were found in the $376 million acquisition of Digital Assets AG (DAAG) by FTX, and the transaction reasonably represents its fair value." BDO did not respond to multiple requests for comment on the evaluation. DAAG declined to comment. BlockBeats previously reported that FTX's bankruptcy lawyer has filed an application with the bankruptcy court in Delaware, USA, seeking to recover $323 million from FTX Europe's leadership. Previously, SBF and FTX paid a total of about $323.5 million to acquire Swiss company DAAG and renamed it FTX Europe, with a total acquisition amount of over $376 million, of which $52.5 million is outstanding debt balance.
Binance OTC opens algorithmic order service to all usersAccording to an official announcement, the Binance OTC team will be offering algorithmic order services to all users on the Binance web-based OTC trading platform. Binance users can now directly choose the Time-Weighted Average Price algorithm (TWAP) and the Percentage of Volume algorithm (POV) to place orders on the platform.
CoinGecko has added a Discord Bots token section.
The encrypted data analysis website CoinGecko has added a Discord Bots token section. The Discord Bots token section has included five tokens: MEVFREE, COLLAB, TKB, ASAP, and NOLO. The market value of this section is $9,860,749, with a 24-hour trading volume of over $1 million.
Bitget changes logo and visual image to promote "smart" transformation of cryptocurrency trading
Bitget has announced a brand upgrade plan, launching a new brand logo, slogan, corporate vision, and visual image. This brand upgrade revolves around the core concept of "Trade smarter" and is committed to helping users manage their cryptocurrency investments more intelligently through leading copy trading, strategy trading, AI-assisted tools, and other functions on the platform.
Viewpoint
SlowMist's Chief Information Security Officer 23pds posted on social media to remind users to pay attention to the latest attack cases involving Apple ID. Among them, there is a malicious phishing program in the Apple Store that steals user accounts and passwords by imitating normal applications. Then the attacker adds their own number to the trusted number of the two-factor authentication to control account permissions and bypass Apple's 2FA. "Cryptocurrency users must be careful because many users and wallet backup plans are iCloud backups. Once attacked, it may cause asset losses."
Sam Altman: Worldcoin may not succeed, but trying is progress.
OpenAI co-founder and Worldcoin founder Sam Altman stated on his social media that "Like other ambitious projects, Worldcoin may or may not succeed, but attempting such things is a way of making progress."
Data
Data: Maverick Protocol ranked third in platform trading volume on DEX in the past 24 hours, surpassing CurveAccording to DefiLlama data, in the past 24 hours, the DeFi infrastructure Maverick Protocol platform has a trading volume of $46.85 million, ranking third among decentralized trading platforms, surpassing Curve Finance's $44.37 million.
ZachXBT: Cryptocurrency payment service provider Alphapo has been stolen more than $60 million
The on-chain detective ZachXBT posted on social media that "it has been discovered that the cryptocurrency payment service provider Alphapo has been stolen 37 million US dollars on the Tron and Bitcoin chains. The amount stolen from Alphapo's hot wallet has exceeded 60 million US dollars. This hack is likely to have been carried out by Lazarus."
A certain whale transferred 1087 BTC, worth about $31.6 million, to Binance 3 hours ago.
According to Lookonchain's monitoring, a certain whale transferred 1087 BTC (approximately $31.6 million) to Binance 3 hours ago. The whale's address withdrew 38,000 BTC (approximately $734 million) from Binance and Huobi in 2022, with an average price of $19,267. Subsequently, the address deposited 15,000 BTC (approximately $405 million) to Binance in 2023, with an average price of $26,956.
Data: Optimism on-chain Worldcoin wallet total exceeds 850,000
According to Dune data, the total number of Worldcoin wallets on the Optimism (now renamed as OP Mainnet) chain has reached 857,821 (excluding pre-release wallets that have not yet migrated to the Optimism chain), of which 147,317 wallets hold WLD tokens.A certain whale sold 16,751 ETH at an average price of $1840
According to Lookonchain data, a whale address sold 16,751 ETH (approximately $30.8 million) about 12 hours ago. After depositing the 16,751 ETH into Binance, the address withdrew 30.8 million USDT with an average selling price of approximately $1,840. The USDT was then deposited into Aave and Compound through two addresses.Yesterday, after a significant market fluctuation, whales panicked and sold WBTC and ETH.
According to Lookonchain data, after yesterday's market fluctuations, whale addresses panicked and sold WBTC and ETH. Among them, the "0x700b" whale address sold 150 WBTC (approximately $4.36 million) at an average price of $29,053. The "0x0121" whale address sold 3,967 ETH (approximately $7.32 million) at an average price of $1,846. The "0x390c" whale address sold 7,115 ETH (approximately $13.12 million) at an average price of $1,844.Data: A certain whale transferred 2196 ETH to Binance 10 hours ago and still holds 22340 ETH
According to the on-chain data analyst Yu Jin, a certain whale transferred 2196 ETH (approximately $4.06 million) to Binance 10 hours ago and currently holds 22340 ETH (approximately $41.25 million).Funding
Web3 game developer Delabs Games completes $4.7 million seed round financing, led by Hashed
Web3 game developer Delabs Games announced the completion of a $4.7 million seed round of financing, with Hashed leading the investment and participation from The Spartan Group, Planetarium, Polygon Labs, and Merit Circle. Delabs Games stated that it has been developing three games, Rumble Racing Star, Space Frontier, and Metabolts, since 2021.
The Sui decentralized social graph protocol, Releap Protocol, announced the completion of a $2.1 million financing round, with participation from Sui Foundation, GBV Capital, Big Brain Holdings, Shima Capital, Arweave Foundation, Assembly Partners, DWeb3 Capital, Impossible Finance, Solar Eco Fund, and MoveBit. It is reported that Releap Protocol has launched a social-focused ecosystem during its testing phase to facilitate growth for developers and users. The scalable architecture of Releap Protocol aims to power the upcoming wave of social applications.
GameFi project Kandle.xyz completes $1.7 million seed round financing, led by Saama
According to IndianWeb2, GameFi project Kandle.xyz announced the completion of a $1.7 million seed round of financing, led by Saama, with participation from PointOne Capital, Cloud Capital, Good Capital, Founder's Room, Seeders Fund, and CoinDCX CEO Sumit Gupta. Kandle.xyz offers cryptocurrency-based Fantasy games where players can compete to win rewards. Kandle.xyz plans to release a project roadmap regarding token issuance, token utility, and the "P2E" model.ZigZag founder plans to raise $500,000 for its new project with a valuation of $10 million
Ethereum Layer 2 ZK Rollup order book DEX ZigZag founder plans to raise $1 million valuation for its new Perp DEX Invisible, with a $500,000 financing round. This will be a public financing round with a minimum payment of $10,000. The funds raised will be used to pay for audits, ZK provers, and initial operating costs. Invisible will be released as a separate project, and part of the platform's tokens (at least 20%) will eventually be unlocked and released to ZZ holders. The exchange will charge fees and generate revenue from the beginning, and all fees will ultimately belong to token holders.
Regulation
英国信息专员办公室：将对 Worldcoin 项目进行进一步调查
Translation:UK Information Commissioner's Office: Will conduct further investigation into the Worldcoin project
According to Reuters, a spokesperson for the UK's Information Commissioner's Office (ICO) stated that "We note that Sam Altman's Worldcoin project, co-founder of OpenAI, has launched in the UK and we will be looking into the project further."According to the report by "The Beijing News", the core members of the blockchain project development and operation team are suspected of organizing and leading pyramid schemes. The case was publicly heard yesterday at the Xishan District People's Court in Wuxi City, Jiangsu Province. At the end of 2018, the defendants Liang, Wang, Chen and others formed a start-up team and developed a transaction public chain based on blockchain technology as the underlying foundation. On June 18, 2019, in order to demonstrate the performance of the public chain and attract users to understand and use the public chain, Liang's team built the HUBDEX exchange on the public chain. On June 18, 2020, the defendants Liang, Wang, Chen and others set up a customer hierarchy based on an invitation system, and each line can develop an unlimited number of levels. The HUBDEX exchange is set up so that when downstream customers pledge HUB coins (HUBDEX exchange tokens), the exchange rewards upstream customers based on dynamic income and other incentive methods, directly or indirectly using the number of personnel developed and the amount of purchases as the basis for rebates.
Japanese Prime Minister: Web3 is part of the new capitalism
According to sources cited by The Block, the Australian Treasury Department plans to release the results of its cryptocurrency regulation consultation in the coming weeks and refine its proposed regulatory framework. The Australian Treasury Department has collected feedback from 91 stakeholders on the consultation document to develop a consultation document around "token mapping" - the process of identifying key activities and functions of products in the cryptocurrency ecosystem and mapping them to existing regulatory frameworks.
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