Daily Legal News | Multiple perpetual contract trading pairs on OKX experience 'needle-insertion' market fluctuations with TRB fluctuating over 90%; Coinbase to integrate Bitcoin Lightning Network.
Selected News:
1. opBNB mainnet officially launched;
2. Multiple perpetual contract trading pairs on OKX experienced "needle insertion" market conditions, with TRB fluctuating over 90%.
3. PeckShield: Suspicious addresses listed by CoinEx transferred funds to the attacker's address at Stake.com.
4. Coinbase will integrate the Bitcoin Lightning Network;
5. Binance spot will launch the experimental trading function of "Smart Order Routing (SOR)" to API users;
6.Solidus Labs: Price manipulation is common on DEX, with "fake trades" totaling $2 billion.
Project Updates
Sui Foundation launches Web3 identity verification solution zkLogin
The Sui Foundation has launched the Web3 identity verification solution zkLogin, aimed at helping developers provide users with the ability to authenticate their existing accounts from Google, Facebook, Twitch, and other third-party providers in their DApps, while providing privacy protection. Future plans include similar integration with Microsoft, Apple, WeChat, and Amazon. zkLogin allows users to join the Sui ecosystem without installing a wallet or managing mnemonic phrases. zkLogin is immediately available for all Sui developers to use for their application users.
CoinEx Global has announced on the X platform that it has identified the third batch of suspicious wallet addresses related to the hacker attack and is tracking the hacker's addresses. The following are the recently identified addresses: BSC: 0xC844F7178379782eC19F3EE6E399f2EB7b2b984F; ARB: 0xfEec9F846E2FE529B765d832EBa988a399Fe3cD6; OP: 0x964c192e54E5eF4176626875BB53071956579fca; XLM: gbpidvkdsnf74oagvbspklw73cscgisbobrb3odrotmoeenzfc6wjfpn.
opBNB mainnet officially launchedAccording to official sources, the opBNB mainnet has officially launched and will focus on enhancing the network's resilience and decentralization through Proof Enhancement, account abstraction, data availability with BNB Greenfield, interoperability with BNB Greenfield, and decentralized sorters. It is reported that opBNB is an EVM-compatible Layer2 chain based on the Optimism OP Stack.
Binance will delist some BUSD trading pairs on September 15th.
According to an official announcement, Binance has announced that it will remove the following spot trading pairs: - September 15th 11:00 (Beijing time): AMB/BUSD, ASTR/BUSD, BAT/ETH, DASH/BUSD, GMX/BUSD, HOT/BUSD - September 15th 13:00 (Beijing time): IMX/BNB, KNC/BNB, MC/BUSD, MDT/BUSD, NULS/BUSD, RAD/BUSD, RAY/BUSD, REQ/BUSD - September 15th 15:00 (Beijing time): SSV/BUSD, STMX/BUSD, TROY/BUSD, WOO/BUSD.
OKX, the Chinese official account of Ouyi, stated that from 15:38 to 15:43pm (HKT), the platform's limit price calculation system experienced a short-term abnormality, resulting in price abnormalities in some contract subjects of OKX platform. The related issue has been fixed, and the specific scope of impact and user losses are currently being investigated. Compensation plans will be provided as soon as possible.
The Mozilla Corporation, developer of the Firefox browser, released a security update on Tuesday to address a critical zero-day vulnerability in Firefox and Thunderbird that has been actively exploited in the wild. The issue has been resolved in Firefox 117.0.1, Firefox ESR 115.2.1, Firefox ESR 102.15.1, Thunderbird 102.15.1, and Thunderbird 115.2.2, and users are advised to upgrade promptly.
OKX multiple perpetual contract trading pairs have "needle-inserting" market, TRB fluctuates over 90%According to OKX market information, there have been flash crashes in perpetual contract trading pairs on their platform, including multiple currencies such as TRB, PERP, WLD, and YGG. Among them, TRB experienced a short-term fluctuation of over 90%, while PERP fluctuated up and down by 22%. Additionally, WLD and YGG also experienced short-term fluctuations of over 20%.
Opera has launched a Web3 payment wallet MiniPay based on the Celo network.
According to official sources, Web3 browser developer Opera has launched a Web3 payment wallet called MiniPay based on the Celo network. The wallet is built into Opera's Android browser, Opera Mini. MiniPay aims to attract millions of mobile users in Africa to use Web3 technology, starting from Nigeria and expanding to the markets of Kenya, Ghana, and South Africa in the coming months.
DeFi cross-chain protocol Interport Finance has integrated OKX DEX API
According to official sources, DeFi cross-chain protocol Interport Finance has seamlessly integrated with OKX DEX API, enabling users to easily complete cross-chain transactions and enjoy the best rates and liquidity. It is reported that the OKX Web3 wallet DEX section is the most powerful DEX and cross-chain aggregator, currently aggregating 10+ cross-chains, 20+ public chains, and 300+ DEXs, achieving a single transaction using multiple DEXs through X Routing intelligent routing, providing users with the best prices and 0 transaction fees, and also having convenient features such as DEX market section, limit orders, and KYT security checks.
Lanhai Interactive announced that, according to the company's announcements published on June 15, 2023, July 7, 2023, August 8, 2023, and August 17, 2023, the group purchased a total of 92.4712 units of Bitcoin in public market transactions, with a total cash consideration of approximately $2.66 million. During the 12-month period prior to the date of this announcement, the company purchased a total of 93.85 units of Bitcoin in public market transactions, with a total cash consideration of approximately $2.7 million.
Astar collaborates with Polygon Labs to launch Astar zkEVM, an Ethereum Layer 2 network
Astar Network, the Polkadot ecosystem smart contract platform, has partnered with Polygon Labs to launch the Astar zkEVM Ethereum Layer 2 network. Astar states that with the launch of Astar zkEVM, it will expand its cross-chain functionality and aims to become the gateway connecting the Ethereum and Polkadot ecosystems. The Astar zkEVM testnet is scheduled to launch in the fourth quarter of this year, with sETH serving as the gas token on the testnet.
Binance spot will launch "Smart Order Routing (SOR)" experimental trading function for API users.
According to an official announcement, Binance will launch the experimental trading feature "Smart Order Routing (SOR)" at 15:00 on September 14th. API users can experience this feature on the BNB/FDUSD and BNB/TUSD spot trading pairs. Smart Order Routing (SOR) allows users to search for potential optimal quotes and liquidity in multiple order books composed of the same base asset and interchangeable quote assets, thereby obtaining better transaction prices and liquidity. Interchangeable quote assets are quote assets with a fixed 1:1 exchange ratio, such as USD stablecoins.
Thai Kasikornbank launches $100 million fund to invest in AI and Web3 solutions in fintech
According to Tech in Asia, Kasikorn X (KX), the innovation department of KBank, the Thai Commercial Bank, has launched a $100 million fund called KXVC, which will invest in AI and Web3 solutions focused on financial services. KXVC will also provide founders with access to KBank's corporate resources, as well as opportunities to network with SMEs and consumers. Prior to the launch of KXVC, KX had already partnered with startups and funds such as Magic Link, Transak, HashKey Capital, Symbolic Capital, and Aifund.ai. KX previously participated in a $5 million seed round funding for the DeFi derivatives trading protocol Forward.
The watch brand Panerai announced that from October 3rd, all watches purchased by customers will include a NFT-based "digital passport". Each Panerai digital passport will contain comprehensive information about the timepiece, forming its digital identity. The digital passport is granted to customers at the time of purchase as proof of the watch's authenticity. (Decrypt)
Standard Chartered Bank subsidiary Zodia Custody plans to collaborate with Parity Technologies to provide custody services for the Polkadot ecosystem. The two companies plan to offer staking for Polkadot's native token, DOT.
According to official sources, Starbase Digital Innovation announced that it will join forces with more than 20 ecological partners to establish the first phase of the "EverGrow Grant" funding program, with a total value of over $2 million, aimed at providing multidimensional support for the commercialization of Web3.0 Startups, with a focus on supporting AI-based projects based on the Web3 ecosystem. The "EverGrow Grant" application will receive comprehensive support worth $10,000 to $30,000 through the project, and the application channel is now open. Starbase's first batch of ecological partners includes nearly 20 well-known institutions and enterprises such as Amazon Cloud Technology, Blockchain Academy, CertiK, Chainbase, ChainIDE, Cregis, Footprint Analytics, LegalDAO, Mirror World, MoveBit, NFTScan, Sei, Tristan Alliance, W3C DAO, as well as well-known technical communities such as Buidler DAO, DianYa Community, DengChain Community, Rebase Community, Rust Language Chinese Community, and TinTinLand.
Web3 social application Tip Coin has announced its token economic model. 35% of the token TIP will be used for platform rewards, 5% will be allocated to the market, and 5% will be allocated to team lock-up. The remaining tokens will be distributed to three Epoch rewards. In Epoch 1, 15% will be used for liquidity provision and 15% will be used for airdrops. In Epoch 2, 20% of the tokens will be used for airdrops. In Epoch 3, 5% of the tokens will be used for airdrops.
EOS Network Foundation: EOS EVM V0.6.0 code has been completedEOS Network Foundation has officially announced that the EOS EVM V0.6.0 code has been completed. Its features include: Trustless Bridge supporting USDT cross-chain, batch request support through Silkworm upgrade, Bridge UX Localization V1, and integration with Oracle and Pyth networks.
Coinbase will integrate Bitcoin Lightning Network
Coinbase CEO Brian Armstrong posted that "the team has decided to integrate the Lightning Network. Bitcoin is the most important asset in the cryptocurrency industry, and we are pleased to contribute to faster/cheaper Bitcoin transactions. It will take some time to implement this integration, so please be patient."
Binance will delist 20 cross and isolated margin trading pairs including ALICE/BUSD
Binance Leveraged will remove ALICE/BUSD, ANKR/BUSD, AVA/BUSD, BICO/BUSD, CLV/BUSD, COTI/BUSD, DAR/BUSD, DEGO/BUSD, GLM/BUSD, IMX/BUSD, KP3R/BUSD, KSM/BUSD, LRC/BUSD, MDX/BUSD, MKR/BUSD, POLYX/BUSD, SLP/BUSD, WAXP/BUSD, XTZ/BUSD, ZIL/BUSD cross and isolated margin trading pairs at 2023-09-21 14:00 (UTC). During the process, users will not be able to increase their positions. It is strongly recommended that users close their positions and/or transfer their assets from the margin wallet to the spot wallet before stopping leveraged trading at 2023-09-21 14:00 (UTC). Binance will not be responsible for any potential losses.
CoinEx announced the associated address of the malicious attacker.
CoinEx team has disclosed the associated addresses of the malicious attacker and will continue to update the suspicious addresses that have been identified. At the same time, we kindly request relevant project teams and institutions to assist CoinEx in freezing and handling these addresses. ETH:
*0x2118e4432d668aCFa347ddBA0efCcc6BB04DB297
*0x1A61Df134d766f1e240FBFAEe79bBeCC04195f62
*0x40cBe7580168d52b7FEC884120B31115c3F7E37E
XRP:
*rpQxVcjVF2fC23r3xKyJS53jw8d5SRhZQf
SOL：
*G3udanrxk8stVe8Se2zXmJ3QwU8GSFJMn28mTfn8t1kq
BSC:
*0x6953704e753C6FD70Eb6B083313089e4FC258A20
KDA：
*k:a9f3672d7ad7a1e4592702d73b220cbc61db1fa17f89a56131d965bc03959913
BCH:
*qrgxyhj8rzl4l7fgauu6q6vtu2grct4jeyrnaq2s75
XDAG：
*15VY3MadZvLpXhjzFXwCUmtZcHszju6L9
Binance will support the Cosmos (ATOM) network upgrade.
Binance will suspend ATOM token deposit and withdrawal services at 20:00 on September 13th to support the network upgrade of Cosmos (ATOM), which is expected to take place at Cosmos block height 16,985,500 at 21:00 on September 13th.
NFT marketplace Magic Eden has announced a new feature called "Lucky Buy", which allows buyers to purchase NFTs below market value. Buyers can participate in bidding to purchase NFTs, and if the bid is successful, Magic Eden will make up the difference, while the seller will still receive the full asking price for their NFT. Even if the purchase is not successful, NFT buyers can still receive "diamond" incentives. The feature uses a percentage-based system, with the system determining the percentage of the NFT asking price that users want to use and the probability of users winning. Currently, Magic Eden only supports the Degen Ape Academy NFT series for this feature, but it will expand to other NFT series in the future. It should be noted that Magic Eden will charge a 3% fee for each Lucky Buy transaction, with the distribution ratio being 1% for the creator, 1% for the seller, and 1% for the Magic Eden platform.
Web3 gaming platform NAGA announced its selection for the Hong Kong Cyberport Incubation Programme and plans to collaborate closely with Cyberport in the future. Cyberport is the largest fintech community in Hong Kong, with over 380 fintech companies involved in various fields such as blockchain, network security, artificial intelligence, big data wealth management, and trading engineering. NAGA is a one-stop Web3 gaming platform founded by the team of Blueport Interactive, a Hong Kong-listed company. It provides comprehensive solutions for game developers and players, integrating game mission systems, multi-chain game libraries, on-chain data, and Web3 gaming identity systems.
Regulation
According to the news from Litchi News, recently, the People's Procuratorate of Huqiu District, Suzhou City, handled a virtual currency fraud case, with more than 700,000 victims nationwide and involved an amount of up to 160 million yuan. After deducting the cost of accompanying goods, recommended cashback, and other fees of more than 97 million yuan, the suspect Fang actually profited about 69 million yuan. It is reported that the name of the fraudulent project is "Global Coin", which falsely claimed that the virtual currency was launched by a Hong Kong group using the latest blockchain technology and could be exchanged for RMB at a certain ratio once it was listed. After the case was discovered, the police promptly froze more than 50 million yuan in Fang's account, and he also used these illegal gains to purchase ten properties, which were subsequently seized by the public security organs. Recently, the court sentenced Fang to 13 years and 6 months in prison for fraud and imposed a fine of 3 million yuan.
According to CoinDesk, FTX has made some changes to its proposal to sell billions of dollars worth of cryptocurrency assets in an attempt to ease concerns raised by the U.S. Trustee in a filing submitted on Tuesday. Despite the impact on the trading pair market, FTX still does not need to announce the sale in advance. The U.S. Trustee initially opposed FTX's plan, stating that any intention to sell Bitcoin or Ethereum should be notified as widely as possible to give other relevant parties the opportunity to object. In the compromise, FTX agreed to privately maintain the right to information for the committee representing the creditors of the trading platform and the U.S. Trustee.
Block.one's cryptocurrency trading platform Bullish plans to apply for a license in Hong Kong.
According to Bloomberg, Tom Farley, CEO of Bullish, a cryptocurrency trading platform under Block.one, said that as part of its international expansion efforts, the exchange plans to apply for a license in Hong Kong. Farley revealed that the company has 260 employees worldwide, with 110 in Hong Kong, about 75 in the United States, 40 in Singapore, and several dozen in Gibraltar. Farley said, "We are applying for a license in Hong Kong. We have had an exchange there for four years, and it is our largest office."
"Fed megaphone" Preview CPI: Beware of "false moves" in core inflation
"Fed Loudspeaker" Nick Timiraos and another WSJ journalist, Amara Omeokwe, co-authored a preview of tonight's CPI report. Economists believe that despite recent energy price increases, potential inflationary pressures in the United States remain moderate. It is widely expected that overall CPI will rebound, while core inflation will further decline. The core inflation drop this summer has paved the way for the Fed to stabilize at next week's meeting, and August data will provide more information for the Fed's discussion to determine whether a rate hike is needed later this year. In addition, Fed officials are cautious about the slowdown in inflation in recent months, as inflation rates may slow down and then accelerate in 2021 and 2022, so they need to guard against "fake moves" in core inflation.
According to DL News, Tornado Cash developer Alexey Pertsev will stand trial in the Netherlands on March 26th to 27th. Alexey Pertsev returned to the Netherlands on Wednesday to attend his fourth pre-trial hearing, where the judge will assess whether the prosecutor and defense have the evidence they need, and whether Alexey Pertsev needs to be detained again before the trial. Pertsev was arrested in August 2022 and detained for nine months. In April of this year, he was released under house arrest, and in May, Pertsev was released on the condition that he could not leave the country and had to wear a GPS monitor.
Celsius Creditors Committee Suspends Claims Lawsuit Against Former CEO and Other Former Executives
The Official Committee of Unsecured Creditors of Celsius has issued a statement indicating that an agreement has been reached between Celsius' debtor, the Official Committee of Unsecured Creditors, and the US Southern District of New York Prosecutor's Office to temporarily suspend claims against Alex Mashinsky, Celsius' former CEO, and other former Celsius executives during Mashinsky's criminal trial. Federal prosecutors requested that the Official Committee of Unsecured Creditors agree to suspend the litigation process to avoid any potential interference with Mashinsky's criminal trial. The Southern District of New York Prosecutor's Office has agreed to coordinate with the litigation administrator on the issue of asset recovery in the criminal case. The Official Committee of Unsecured Creditors of Celsius supports swift enforcement and will return the recovered funds to account holders.
According to The Block, the US Southern District of New York's federal prosecutor's office stated in a statement that Karl Sebastian Greenwood, co-founder of OneCoin, a cryptocurrency involved in a $4 billion Ponzi scheme, was sentenced to 20 years in prison and fined $300 million on Tuesday. He admitted to creating and promoting a false cryptocurrency in December last year. The 46-year-old Karl Sebastian Greenwood was arrested in Thailand in 2018 on charges of fraud and money laundering and was extradited to the United States.
Funding
According to official sources, Web3 cross-chain community operating system Club3 announced the completion of a $3 million seed round of financing. The round was led by LinkVC, with participation from FarSight Capital, BCH Foundation, Digifinex, and others. As a one-stop Web3 cross-chain community operating system, Club3 provides project parties with accurate zero-code SaaS tools for user traffic and loyalty management based on user on-chain and off-chain data, helping them achieve their Go To community (GTC) strategy. Club3 has officially launched the first round of $200,000 community subsidy plan, aiming to provide growth subsidies for early high-quality projects. Currently, Club3 has established traffic and community partnerships with hundreds of platforms such as OKX, BNB Chain, Hashkey, ZKSync, TP Wallet, Lens, etc.
Web3 startup Immix has completed a $2.7 million seed round of financing, led by MassMutual Ventures.
According to Tech in Asia, Web3 startup Immix has completed a $2.7 million seed round of financing, led by MassMutual Ventures with participation from Ripple. These funds will be used to develop Immix's trading platform and improve its market-making capabilities. Founded in 2019, Immix currently offers a non-custodial trading system for institutional investors. Compared to traditional cryptocurrency execution management systems (EMS), the platform offers "lower" trading latency, allowing investors to expand their trading activities in the Web3 ecosystem.DeFi data analysis and tax reconciliation platform Octav announced the completion of a $2.65 million seed round of financing, with investors including Nascent, Polymorphic Capital, Parallel Studio, Spaceship DAO, Investmeows, Possible Ventures, Speedinvest, ACET Capital and other institutions, as well as individual investors such as Aave's strategic lead Markc Zeller and former CEO of Sushiswap 0xMaki.
The cross-border payment platform Parallax announced the completion of a $4.5 million seed round of financing. The round was led by Dragonfly Capital, with participation from Circle Ventures, General Catalyst, gumi Cryptos Capital, Palm Drive Capital, Comma Capital, Firsthand Alliance, and angel investors Balaji and Zach Abrams. The new funds will be used to continue expanding the team and business. Parallax's initial product allows users outside the United States to open a virtual USD account and receive USD using only their passport. The team is building and expanding stablecoin cross-border payment capabilities.
According to Finsmes, Web3 collaborative entertainment protocol Mythic Protocol has completed a $6.5 million seed round of financing, led by Yida Gao of Shima Capital, with participation from Alpha JWC, Saison Capital, GDV Venture, Planetarium Labs, Arcane Group, Presto Labs, MARBLEX, EMURGO Ventures, HYPERITHM and some angel investors. The funds will be used to develop and launch the initial core product. It is reported that Mythic Protocol aims to establish a collaborative entertainment ecosystem, using game-first strategies to acquire, retain and expand users.
Data
Solidus Labs: Price manipulation is common on DEX, with "fake trades" totaling $2 billion
Bloomberg reported, citing Solidus Labs, a cryptocurrency market surveillance company, that price manipulation of tokens on Ethereum-based DEXs is rampant, with at least $2 billion worth of "wash trading" since September 2020. In addition, the report shows that liquidity providers on three DEXs monitored by Solidus manipulated the prices and trading volumes of over 20,000 tokens, and about 67% of liquidity providers in approximately 30,000 liquidity pools in Solidus' sample executed "wash trades," accounting for 13% of the total pool trading volume.
TON short-term breakthrough $1.95, up more than 8% in 24 hours
According to OKX market information, TON has broken through $1.95 in the short term and is currently priced at $1.9163, with a 24-hour increase of over 8%. Prior to this, the TON Foundation announced that it will launch the self-managed digital wallet TON Space based on Telegram globally in November. At the same time, Telegram announced that it has chosen the TON network as its blockchain network for Web3 infrastructure, and many noteworthy developments of TON will be built on Telegram.
Paxos has released its first transparency report on PYUSD: all transactions are over-collateralized.
Paxos released its first PYUSD transparency report, which disclosed unaudited data related to PYUSD as of August 31st Eastern Time, including: the total tokens outstanding is approximately $44.37 million; the current market value of the collateral in the US Treasury repo agreement is $43.86 million, with a nominal position value of $43 million; the current market value of the collateral in other cash deposits held by the custodian is approximately $1.5 million; the current market value of the collateral in the total net assets is $45.36 million, with a nominal position value of $44.5 million. Paxos stated that the US Treasury repo agreement is a contractual arrangement between two parties, in which one party agrees to sell securities to the other party at a specified price and promises to buy back the securities at another (usually higher) specified price later. If the counterparty defaults, Paxos can liquidate the US Treasury collateral to offset the loss. Since all transactions are over-collateralized, the risk of loss is not considered significant.Citi expects stronger growth in core inflation in the US in August, following two consecutive months of a 0.16% MoM increase. However, after rounding, the MoM increase in core CPI of 0.252% may record another 0.2% increase. Citi also predicts further slowing of housing prices, with primary residence rents increasing by 0.44% and owner's equivalent rent increasing by 0.46%. At the same time, overall CPI is expected to rise strongly, with a monthly rate of 0.6%, the largest increase since June 2022. The main reasons are the rise in retail natural gas prices and the further strength of other energy components such as utility natural gas. (Jin10)
friend.tech "Keys" price ranking: founder Racer Key ranks first with 7.65 ETH
friend.tech "Keys" price ranking latest data shows: · Platform founder Racer ranks first with 7.65625 ETH; · Crypto KOL Levi ranks second with 5.58756 ETH; · Crypto KOL Hsaka ranks third with 5.11225 ETH; · Crypto KOL Herro ranks fourth with 4.356 ETH; · Crypto KOL Cobie ranks fifth with 3.69056 ETH.
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