Web3 Daily | HashKey Exchange becomes the first licensed trading platform in Hong Kong to serve retail users; Tether's US bond holdings exceed those of Australia.
Top News:
1. HashKey Exchange: Obtained official upgrade approval for licenses No. 1 and No. 7, becoming the first licensed trading platform in Hong Kong to serve retail users.
2. New Fire Technology has changed its English brand name to "Sinohope Technology Holdings Limited".
3. OX breaks through $0.064, setting a new historical high;
4. Tether's holdings of US Treasury bonds exceed those of Australia, with Q2 operating profits exceeding $1 billion.
5. CZ: "Voting to close Binance.US was unsuccessful." This news is false and constitutes FUD.
Project Updates
CZ: "Voting to close Binance.US unsuccessful", message is untrue and belongs to FUD
Binance founder CZ responded to recent media reports on the "failed vote to close Binance.US" by saying, "The research quality, verification process, and even logical thinking behind this news are unacceptable. If this were a board vote, one vote against it would not prevent any decision. Two-thirds of the votes in favor would win. If this were a shareholder vote, Brian Shroder is a CEO, not a venture capitalist or other type of investor. This is just FUD."
BlockBeats previously reported that according to sources cited by The Information, Binance founder CZ attempted to shut down Binance.US earlier this year. The board of directors then voted on the matter but failed to obtain the unanimous support needed to make the decision. Binance.US was valued at $4.5 billion by investors last year.
Aave DAO community initiates proposal to discuss the use of treasury USDT to acquire CRV
BlockBeats News, according to relevant page information, Aave DAO community initiated a proposal to discuss the acquisition of CRV using the national treasury USDT. The proposal suggests using 2 million aUSDT to purchase 5 million aCRV, and points out that this acquisition has strategic significance, gaining greater discourse power over the Curve protocol through the acquisition of CRV, and thus obtaining secondary liquidity that is beneficial to GHO. The proposal was put forward by Aave Chan Initiative on August 1st and is currently being discussed in the community. If the community reaches a consensus, this proposal will be upgraded to the AIP voting stage.
Shiba Inu will add digital ID in its ecosystem project
According to CoinDesk, the Shiba Inu ecosystem will link all applications with blockchain-based digital identities to enhance trust between Shib users and governments. The Chief Developer of Shiba Inu stated that they are laying the foundation for a new global standard of decentralized digital trust and international identity verification.Binance will delist TRX/BUSD and DODO/BUSD perpetual contracts on August 10th
According to official sources, Binance Futures will close all positions and settle TRX/BUSD and DODO/BUSD perpetual contracts on August 10th at 17:00 (Beijing time). After settlement, the contracts will be delisted. In addition, Binance Futures will adjust the leverage and margin levels for TRX/BUSD and DODO/BUSD perpetual contracts on August 3rd at 14:00 (UTC). Existing positions opened before the update will be affected. Users are strongly advised to adjust their positions and leverage before the update to avoid potential liquidation.
Etherscan tweeted that the Etherscan Goerli server is scheduled for maintenance and upgrade on August 4th at 11:00, with an expected maintenance time of 16-18 hours. Affected functions include site and API offline, and contract verification unavailable.
FTX hopes to exclude its Dubai subsidiary from US bankruptcy proceedings
According to CoinDesk, bankrupt cryptocurrency exchange FTX hopes to exclude its Dubai subsidiary, FTX Dubai, from the US liquidation process. FTX Dubai was established in February 2022 and is owned by the company's European branch, and is one of the entities involved in the litigation. FTX argued in the filing requesting the dissolution of the department that FTX Dubai did not conduct any business before applying for bankruptcy. In addition, FTX Dubai's balance sheet has the ability to pay. Therefore, the debtor believes that a voluntary liquidation procedure with the ability to pay under UAE law will allow timely distribution of positive cash balances after paying all outstanding debts and liquidation. A hearing on the matter is scheduled for August 23.
Trader Joe launches on-chain limit order featureAccording to official sources, the DEX project Trader Joe has launched an on-chain limit order function. Users can now set up automatic buy or sell orders without incurring any fees or price impact.
Sui mainnet upgraded to version V1.6.3, including updates to liquidity staking functionality.
According to official sources, the Sui mainnet has been upgraded to version V1.6.3, which includes multiple fixes and optimizations. The upgrade highlights include: adding linter warnings, the ability to choose to ignore linter warnings, warnings no longer blocking test runs, adding a new filter TransactionKindIn, and linter encouraging developers to return objects from functions. Additionally, this version includes updates to the liquidity staking feature proposed in SIP-6, and full nodes are advised to complete the update as soon as possible to avoid service disruptions.
Orbiter Finance announced support for the Base network
Layer 2 bridging project Orbiter Finance announced that it has supported the Base network. Currently, users can transfer up to 5 ETH across Ethereum mainnet, zkSync Lite, zkSync Era, Starknet, Arbitrum One, Arbitrum Nova, Optimism, Polygon, Polygon zkEVM, BNB Chain, Linea, Mantle, and Base network with 0 transaction fees.
Ethereum sidechain Ronin Network has announced the launch of a series of new developer features, including Ronin VRF for CyberKongz Genkai release, which will allow developers to experiment with cryptographically supported random value generation. In addition, Ronin will be lifting the whitelist requirement for the Ronin Wallet Javascript SDK in the coming days and releasing a public version. Ronin has also integrated with blockchain data indexing platform Satsuma, enabling more complex queries of Ronin blockchain data.
Web3 communication platform Push Protocol has launched version 2, which adds two key features to increase the application's profitability. The first is the Push Fee Pool, which, according to its token economics, will be used for any advanced features being developed for Push, and "super users" of the chat and notification services will be charged in PUSH tokens. In return, they will receive more storage space and access to these advanced features. Users can also put their tokens into the core contract and receive rewards from the fee pool. The second key feature is incentivized chat requests. With this feature enabled, KOLs can charge fans a one-time fee (in the form of PUSH tokens) for the opportunity to chat with them. Currently, incentivized chat requests are only available on the Ethereum blockchain, but multi-chain support will be integrated into future versions of its smart contract. (Blockworks)
HashKey Group announced on its official website that HashKey Exchange 1 and 7 have officially upgraded and obtained approval, becoming the first licensed trading platform in Hong Kong to serve retail users. This license upgrade will further expand the business scope of the HashKey trading platform, from only serving professional investors to retail users, in order to meet market demand and provide more secure and convenient buying and storing services for retail users. The announcement stated that in addition to supporting fiat currency deposits and withdrawals, the HashKey trading platform will also cooperate with commercial banks, including the Hong Kong Monetary Authority, to provide users with convenient fiat currency deposit and withdrawal services. In addition, the platform has also opened the only compliant OTC trading platform in the Eastern region, providing users with more trading options.
Galaxy Digital's plan to go public in the US may be delayed again due to Luna-related litigation.
According to Forbes, if a pending lawsuit related to Luna is deemed a class action, Canadian crypto investment firm Galaxy Digital's plans to go public on Nasdaq may face further delays. The case was filed in December of last year in the Ontario Superior Court of Justice, with the plaintiff accusing Galaxy CEO Mike Novogratz of making false statements about the company's risks in cryptocurrency prior to the collapse of Luna. Galaxy plans to defend against these allegations. Due to the possibility of new evidence arising during the trial, lawyer Sean Masson of Scott & Scott stated that Galaxy Digital's efforts to go public in the US may once again be hindered.
L2 ZK Rollup ecosystem Zeko releases simplified white paper
L2 ZK Rollup ecosystem Zeko announced on social media that it has released a simplified white paper. Zeko will achieve privacy and scalability through fully equivalent Mina ZK Rollup and composable application-specific second layer (L2), enhancing the functionality of zkApps: increasing transactions per second (TPS), improving user experience (UX) through faster block times, providing reusable Rollup modules for data aggregation, sorting, and proof functions. As previously reported by BlockBeats, on July 27th, Mina development team O(1) Labs collaborated with Zeko Labs and dcSpark to launch the L2 ZK Rollup ecosystem Zeko specifically designed for zero-knowledge applications (zkApps), allowing developers to build decentralized applications with programmable privacy on a large scale.
Binance founder CZ posted on social media that Binance's internal address was hit by a "zero transfer phishing attack" yesterday. The operator discovered the error immediately after completing the transaction (transferring 20 million USDT) and promptly requested a freeze on the USDT. Now, some procedures need to be followed, including submitting a police report, to recover the funds. Fortunately, there was no actual loss of funds. CZ hopes that sharing this incident can serve as a warning to users.
DeFi risk manager Gauntlet has launched a new proposal in the Aave community, suggesting a change in supply limit for WMATIC on the Polygon chain in Aave V3. According to their method, the supply limit for WMATIC will increase from 105 million to 120 million to address its usage exceeding the 75% threshold. The proposal is based on the asset's market ADV and liquidity depth, aiming to ensure system stability.
According to The Block, Worldcoin has confirmed that it has temporarily suspended its services in Kenya after receiving a suspension notice from the Kenyan government yesterday. A spokesperson for the Worldcoin Foundation stated that the verification service has been temporarily suspended out of caution and to reduce the number of people in crowds. There is a high demand for its verification services in Kenya, with thousands of people queuing up to obtain a World ID.
Convex Finance has launched a new CRV liquidity pool.
CRV staking and liquidity mining platform Convex Finance announced on social media that a new CRV liquidity pool has been launched, with CVX incentives also added to the new CRV liquidity pool.
Web3 creator platform Nifty announces shutdown
Web3 creator platform Nifty announced the shutdown in an official post. Nifty wrote, "Earlier this year, we turned to developing a platform for Web3 creators considering its limited resources in a difficult market. We have been committed to developing new products and seeking funding to continue our development. Unfortunately, investment opportunities have not been successful, and we will gradually end our business from today." Nifty was originally a social platform focused on NFTs and has collaborated with some well-known brands in the entertainment industry to launch NFTs, including a collaboration with Warner Bros. to launch NFTs based on "Space Jam" and NFTs featuring "The Matrix" and "Game of Thrones". The platform received support from Mark Cuban and Joe Lubin in 2021 and raised $10 million, with investors including Coinbase Ventures and Dapper Labs.
The bankruptcy plan disclosure statement of the encrypted lending platform BlockFi and its affiliates has received conditional approval from the New Jersey bankruptcy court and took effect on August 2. The plan aims to help customers recover funds to the maximum extent possible and provide customers with the fastest possible return of funds. All eligible parties are advised to accept the plan before the voting deadline on September 11.
ConsenSys' blockchain development platform Infura, stated on social media that it experienced network interruptions and higher latency yesterday, affecting all networks, including Optimism, Arbitrum, and Base, all of which experienced service interruptions. The team has now identified and resolved the issue.
Sinohope Technology Holdings Limited has changed its English brand name.
New Fire Technology announced that the company's original English name "New Huo Technology Holdings Limited" will be changed to "Sinohope Technology Holdings Limited", while the Chinese name will remain unchanged. The board of directors believes that the proposed name change will give the company a new corporate image and identity, which will be beneficial to the future business development of the group and in line with the overall interests of the company and shareholders. The renamed Sinohope Technology will focus more on digital asset custody business and will not affect any rights of shareholders in any way.
OP Labs launches Superchain Faucet
OP Labs has launched a super chain faucet called "Superchain Faucet", which allows developers to use on-chain reputation data to receive up to 1 ETH per day in the test network.
The dYdX trading research team has partnered with Skip Protocol to publicly display potential MEV extraction behavior of each validation node on a dashboard, with the goal of preventing MEV extraction behavior and taking action against bad actors. In addition, dYdX has deployed a "bad validator node" on the public test network, which maximizes profits by sandwiching all eligible orders.
According to Cointelegraph, the Australian Securities and Investments Commission (ASIC) has filed a federal court lawsuit against the contract for difference (CFD) products of social investment platform eToro, citing its overly broad market positioning and violation of design and distribution rules, and stating that its underlying assets also have their own risks, including "products with extremely high risk and volatility, such as cryptocurrency." CFD is a type of leveraged derivative contract that allows buyers to speculate on the price movements of underlying assets, such as foreign exchange rates, stock market indices, individual stocks, commodities, or cryptocurrencies, with eToro's cryptocurrency CFDs allowing some assets to use double leverage.
Genesis and creditors' mediation deadline extended to August 16th
According to Bloomberg, Genesis has extended its mediation deadline with creditors for the final time until August 16th. Genesis' lawyer stated that "if we cannot make substantial progress in the transaction within the next two weeks, we do not believe we will seek further extension of the mediation deadline." Since May, Genesis has been mediating with key stakeholders, including parent company DCG and Gemini, in an attempt to salvage a proposed bankruptcy exit plan supported by DCG, but the plan was rejected by its official committee of unsecured creditors.
Direxion has submitted a Bitcoin and Ethereum futures ETF application to the US SEC.
ETF issuer Direxion has submitted a Bitcoin and Ethereum futures ETF application to the US Securities and Exchange Commission (SEC). The product, named "Direxion Bitcoin Ether Strategy ETF", will invest in Bitcoin and Ethereum futures contracts, as well as other ETFs with exposure to futures products.
Security Reminder
Beosin: Apache NFT SalesRoom experienced a Rug Pull, with the deployer having earned 680,000 USD in profitAccording to Beosin Alert, the BNB Chain-based project Apache NFT SalesRoom (ASN) experienced a Rug Pull, where the deployer transferred a large amount of tokens to an address starting with "0xdc8" and sold 1 million ASN tokens through that address, obtaining $680,000.
23pds, Chief Information Security Officer of SlowMist, stated on social media that recently there has been a large-scale attack on macOS using the software macOS-HVNC on the dark web. Mac computers and devices are widely used by individuals and small and medium-sized enterprises for their security and usability. The features of macOS HVNC include: Hidden operation: HVNC is designed to run in stealth mode, making it difficult for individuals and small and medium-sized enterprises to detect its presence on their systems. This hidden operation allows cybercriminals to maintain access without arousing suspicion. Maintaining permissions: HVNC usually includes mechanisms to ensure that it remains active even after the system is restarted or attempts are made to remove it. Data theft: The main purpose of HVNC is to steal sensitive information from individuals, employees' computers, such as login credentials, personal data, virtual assets, financial information, or other valuable data. Remote control: HVNC allows cybercriminals to remotely control computers, giving them full access to the system. Although Macs have traditionally been less targeted by cybercriminals, attackers are now developing more macOS malware. Be aware of the risks.
Ethereum developer TimBeiko's Twitter account appears to have been hacked. The account has currently posted a phishing scam link and disabled the comment reply function. Please do not interact with any content posted by the account.
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Due to the impact of news, BNB fell below $240 in a short period of time.
According to OKX market data, BNB has dropped below $240 in the short term and is currently trading at $240.5, with a maximum drop of 3.32% in the past 10 minutes.Bitcoin falls below $29,000 in the short term
According to OKX market data, Bitcoin briefly fell below $29,000 and is currently trading at $29,123, with a 24-hour gain narrowing to 0.66%.Sui daily transaction volume reached 65.8 million, setting a historical record
Sui officially announced that the daily transaction volume of Sui network reached 65.8 million, setting a historical record. "This is the highest transaction volume recorded by any blockchain in a single day."
Robinhood Q2 cryptocurrency trading revenue drops to $31 million, down 18% QoQAccording to Robinhood's Q2 2023 financial report, the company's cryptocurrency trading revenue decreased to $31 million, an 18% decline from Q1. This was partly due to a 6% decrease in the number of customers trading, and a 15% decrease in nominal trading volume per trader. However, Robinhood's total net revenue increased to $486 million, a 10% growth from Q1. Additionally, the company achieved GAAP profitability in Q2 with a profit of $25 million as a publicly traded company.
OX breaks through $0.064, setting a new historical high
According to CoinGecko data, the native token OX of the cryptocurrency claims and trading platform OPNX has broken through $0.064, reaching a new all-time high. It is currently priced at $0.06432, with a 24-hour increase of 25.81%.KAS surged this morning and broke through $0.046, reaching a new historical high.
According to Bitget market data, Kaspa (KAS) surged to a new all-time high of $0.04649 this morning before falling back. It is currently trading at $0.04609, with a 24-hour increase of 12.4%.Data: A certain whale sold 2400 ETH to repay Aave debt and transferred 3710 ETH to Binance
According to Lookonchain's monitoring, a certain whale sold 2,400 ETH 12 hours ago to repay Aave debt, worth about $4.4 million, and subsequently transferred 3,710 ETH to Binance, worth about $6.8 million.Data: A whale transferred 3.11 million CRV worth about $1.82 million from Binance
According to Lookonchain, a whale transferred 3.11 million CRV worth $1.82 million from Binance 9 hours ago, marking its return to purchasing CRV after 2.4 years. If the whale had purchased CRV from Curve founder Michael Egorov through OTC, it would have reduced the cost. BlockBeats previously reported that as of 10:00 am on August 3rd, the Curve founder had sold a total of 72 million CRV to 15 investors/institutions, raising a total of $28.8 million at an average price of $0.4 per CRV.
Tether's US Treasury holdings exceed Australia's, Q2 operating profit exceeds $1 billion
Cryptocurrency KOL Miles Deutscher stated on social media that Tether currently holds more US Treasury bonds than Australia, the United Arab Emirates, and Spain. In addition, Tether's operating profit in the second quarter exceeded $1 billion. By comparison, the operating profit of the world's largest asset management company, BlackRock, was around $1.6 billion this quarter. BlockBeats previously reported that on July 31, stablecoin issuer Tether released a 2023 Q2 audit opinion report completed by independent accounting firm BDO. Tether revealed that its excess reserve increased by approximately $850 million, and the total excess reserve at the end of Q2 was approximately $3.3 billion.
Base chain DEX LeetSwap announced that it has recovered approximately 400 ETH from risky liquidity pools. These funds will be distributed back to the respective teams for relaunching. LeetSwap will create a form for project teams to fill out, which they can submit to reclaim their liquidity, but larger projects will be given priority. LeetSwap urges each project team to handle communication with the community, restart token trading, and provide liquidity again. LeetSwap stated that trading will resume in approximately 12 hours, at 7:00 am Beijing time tomorrow. Once the website is reopened, it may temporarily slow down or become unstable due to the huge traffic.
CoinsPaid and Alphapo lost $8.5 million in stolen funds, which were exchanged for 290 bitcoins.
On-chain analyst @tayvano_ monitored that last night, about $8.5 million stolen funds from CoinsPaid and Alphapo (as well as some remaining funds from Atomic wallet) flowed to over 300 addresses on 3 different chains. Among them, around 4600 ETH were allocated to 125 new Ethereum addresses, which were then transferred to the Avalanche network and converted to Bitcoin. As of now, about 290 BTC are stored in 125 new Bitcoin addresses, with each address holding around 1-3 BTC.
Curve founder sells 7.5 million CRV through OTC and repays 3 million USDT on Aave
According to Lookonchain's monitoring, Curve founder Egorov sold another 7.5 million CRV through OTC 9 hours ago and then repaid 3 million USDT on Aave. Currently, his debt has decreased to 82.6 million US dollars.The encryption analysis company Santiment stated that there are currently 15,870 Bitcoin addresses holding at least 100 BTC. These addresses collectively own 11.5 million Bitcoins, accounting for more than half of the current total supply, reaching 59.2%. In the past 12 weeks, these whales have collectively increased their holdings by 27,755 Bitcoins.
47 Azuki NFT completed transactions through OTC, with an average transaction price of 5.1 ETH.
Encryption KOL Yogi said that NFT collector dingaling completed an off-market transaction of 47 Azuki NFTs today. According to on-chain information, these 47 Azuki NFTs are currently owned by an address starting with 0x10C, which transferred out 239.7 ETH 8 hours ago, possibly indicating the transaction price. It is inferred that the average transaction price of Azuki in this transaction is 5.1 ETH. As of the time of writing, the floor price of Azuki NFT on Blur is 4.97 ETH.
KAS has broken through $0.047, with a 24-hour increase of 14.17%.
According to Bitget market data, Kaspa (KAS) has broken through $0.047 and is currently priced at $0.04718, with a 24-hour increase of 14.17%. STAKE founder BEN expressed optimism about the KAS token on social media. Meanwhile, kaspa's official website has launched a crowdfunding campaign on the chain to be listed on CEX, raising $30,000 in this round of crowdfunding. After Ethereum's transition to POS, Kaspa has become the main computing power receiver for public chains, with current computing power reaching 3.57PH/s. KAS has risen by a maximum of 15% in the past 24 hours, continuing to set new highs.Huobi co-founder Du Jun buys 10 million CRV from Curve founder
According to The Block, Huobi co-founder Du Jun confirmed via Twitter DM that he purchased 10 million CRV tokens from Curve founder Michael Egorov for $4 million and locked them as veCRV.According to Lookonchain's monitoring, after Binance announced the Launchpool activities for CYBER and SEI, a whale deposited 163,700 BNB (worth approximately $39.75 million) to Binance. 126,000 of the BNB were borrowed by the whale from Venus and Radiant Capital.
Funding
The decentralized insurance platform Marquee has completed a $1 million seed round of financing, with Cryptogram Venture (CGV), Chain Capital, Waterdrip Capital, Bitrise Capital, ZC Capital, and Coinw Ventures participating. Marquee supports users to purchase "token price insurance" and "smart contract insurance", and allows users to become insurance underwriters to receive multiple rewards. Marquee will accelerate technology research and development and market promotion, providing more breakthrough and innovative product solutions. Its goal is to lead the innovation and development of the insurance, options, and other derivative markets, and open a new era of creative growth.
The UK blockchain payment platform Orbital has completed a £5 million financing round, led by Golden Record Ventures, with participation from New Form Capital, GSRV, Psalion, and Luminous Futures. This round of financing will enable Orbital to continue its rapid growth, obtain more licenses in new jurisdictions, and further develop its products. Founded in 2017 and headquartered in London, Orbital has obtained a cryptocurrency payment license and is currently focused on stablecoin use cases in cross-border payments. Orbital aims to combine fiat and cryptocurrency business accounts, enabling traditional global enterprises, especially those involved in emerging markets, to integrate stablecoins and other major cryptocurrencies and traditional currencies into existing payment flows. Its API further serves as an embedded financial solution for stablecoin payments. (TechFundingNews)
African central bank infrastructure provider Emtech announced the completion of a $4 million seed round of financing, led by Matrix Partners India, with participation from BTN, Vested, Equity Alliance, LoftyInc Capital and others. Emtech plans to further develop its CBDC stack and regulatory technology solutions. Emtech's previous investors include Noemis Ventures, Octerra Capital and 500 Global. To date, Emtech has raised a total of $10 million. (Techcrunch)
Regulation
According to the US financial media Semafor, sources revealed that officials from the US Department of Justice are considering bringing fraud charges against Binance, but are concerned that this action will have an impact on retail traders. Prosecutors are considering other options, such as fines and deferred or non-prosecution agreements. This outcome will be a compromise, holding Binance accountable for its actions while minimizing harm to consumers.
According to two sources cited by Blockworks, the US Securities and Exchange Commission (SEC) has indicated that it is ready to publicly consider Ethereum futures ETF products. However, one source added that the SEC is willing to weigh Ethereum futures ETFs, but cannot guarantee their approval. Matthew Sigel, Director of Digital Asset Research at VanEck Fund Group, said: "The SEC's policy on crypto ETFs has always been arbitrary. It's completely inconsistent now." A spokesperson for the US Securities and Exchange Commission did not immediately respond to a request for comment on Wednesday. Earlier, Eric Balchunas, a senior ETF analyst at Bloomberg, posted on social media that six companies have already submitted applications for Ethereum futures ETFs, including Grayscale, Bitwise, Roundhill, VanEck, and Proshares, which submitted their applications on August 1st local time.
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