Daily Legal Pulse | CZ clarifies providing $250 million loan to BAM; Founder of Bitcoin NFT protocol Ordinals proposes changing protocol numbering system.
Selected News:
1. Discord trading bot None Trading announced shutdown, causing the token to plummet over 70% in 24 hours;
2. CoinEx will conduct system maintenance tomorrow and suspend all services for about 4 hours;
3. CZ refutes misleading reports and clarifies that BAM provided a $250 million loan to CZ, not the other way around;
4. Data: Binance had a net outflow of $185 million in the past 7 days, and a net inflow of $16.49 million in the past 24 hours;
5. DeFi yield aggregator Gro Protocol will cease operations and dissolve Gro DAO.
6. Bitcoin NFT protocol Ordinals founder proposes changing protocol numbering system.
Project Updates
Aztec has launched the Aztec Sandbox, a local developer testnet for smart contract privacy.
Privacy and scalability solution Aztec, based on ZK Rollup, has launched Aztec Sandbox, a local developer test network for smart contract privacy. Aztec stated that Aztec Sandbox is a comprehensive version that provides developers with a fast and lightweight local Aztec node, similar to Ethereum's Ganache or Anvil local node package. In addition to the local node testing environment, Aztec Sandbox also includes tools and frameworks that allow developers to write and test smart contracts.
Binance founder CZ responded to a Decrypt report stating that he "received a $250 million loan from BAM Management U.S. Holdings" by saying that the opposite is true. He provided a $250 million loan to BAM Management U.S. Holdings and has not yet received it back.
OKX Web3 Wallet Releases Latest Ecosystem Overview
According to official sources, OKX Web3 Wallet has released its latest ecosystem overview, with the wallet section connected to over 70 public chains, the DeFi section supporting over 120 protocols, and the NFT market aggregation platform supporting over 30. It also supports multiple ecosystems such as Game, Social, MEME, and Tool, with a total of over 300 supported platforms and protocols. OKX Web3 Wallet is a one-stop Web3 entrance, covering five major sections including wallet, DEX, DeFi, NFT market, and DApp exploration. It is unified across three platforms: App, plugin, and web, and also supports creating MPC and AA smart contract wallets, Ordinals market, gas exchange, iCloud/Google Drive backup of mnemonic words, custom networks, and connection to hardware wallets, providing users with an ultimate convenient and secure experience.
The encrypted trading platform CoinEx announced that it is expected to complete the reconstruction and deployment of the wallet system at 16:00 on September 21, 2023, Beijing time, and resume the deposit and withdrawal services of Bitcoin, Ethereum, USDT (ERC-20, TRC-20), USDC (ERC-20), TRX, LTC, BCH, DOGE, SHIB, and BNB. CoinEx stated that new deposit addresses will be generated after the resumption of deposit and withdrawal services.
British House of Lords member Ian Botham confirms attendance at "EDGE Summit" Hong Kong summit
British House of Lords member, lan Botham, has confirmed his attendance at the "EDGE Summit" Hong Kong conference, co-hosted by BlockBeats. Lord Botham currently serves as a member of the British House of Lords, a cricket commentator, and a former cricketer. Since 2017, he has also served as the chairman and fundraiser for the Durham County Cricket Club. Botham is hailed as one of the greatest all-rounders in cricket history, having represented England in cricket tests and one-day international cricket matches.
DFINITY founder Dominic Williams confirms attendance at "EDGE Summit" Hong Kong summit
DFINITY founder Dominic Williams has confirmed his attendance at the "EDGE Summit" Hong Kong conference co-hosted by BlockBeats. Dominic Williams currently serves as the founder and chief scientist of DFINITY, responsible for building the Internet Computer. As a cryptographer and serial entrepreneur focused on the internet and distributed systems, Dominic has had an outstanding career. Recently, he has pioneered new approaches to cryptography and blockchain technology in Threshold Relay and PSC chains, Validation Towers and Trees, USCIDs, and "The 3 E's Sybil Resistance".
Ledger plans to launch its private key recovery service by the end of this year.
According to The Block, Ledger plans to launch its private key recovery service by the end of this year, despite receiving a lukewarm response from users when the product was first introduced in May. The service aims to help users recover their private keys by splitting their seed phrases into three parts and sharing them with Ledger and two other security companies, CoinCover and EscrowTech. Despite the controversy, Ledger CEO Pascal Gauthier still expects the Ledger Recover service to be launched by the end of the year, with some open-source features requested by users. Additionally, Ledger is also considering how to provide privacy protection tools and identity verification information when needed.
Bitcoin NFT protocol Ordinals founder proposes changing protocol numbering system
Bitcoin NFT protocol Ordinals founder Casey Rodarmor recently proposed to change the numbering system of the protocol in order to simplify the project's codebase. Since the Ordinals protocol began, each NFT created using Ordinals has been assigned a unique inscription number. However, Rodarmor believes that maintaining the stability of the inscription number has led to "complex code and development stagnation". Therefore, he proposes to make the inscription number "permanently unstable", which means that the system for assigning unique numbers to inscriptions created in the Bitcoin network will be deprioritized. Although some community members support this, others have pointed out that users have paid a lot of fees to obtain specific numbers, and reorganizing the numbers will affect them. However, one community member pointed out that people who care about inscription numbers can still sort their collections by timestamp.
Binance will delist some BUSD trading pairs on September 22
According to an official announcement, Binance has announced that it will remove the following spot trading pairs: ACA/BUSD, ALPHA/BUSD, ALPINE/BUSD, ANT/BUSD, ASR/BUSD at 03:00 (UTC) on September 22, 2023; ATM/BUSD, BAL/BUSD, DGB/BUSD, FIRO/BUSD, GAL/BUSD at 05:00 (UTC) on September 22, 2023; OOKI/BUSD, PORTO/BUSD, PSG/BUSD, RVN/BUSD, TWT/BUSD at 07:00 (UTC) on September 22, 2023.Aave community has initiated ARFC proposal voting on GHO liquidity strategy upgrade
The Aave community has initiated an ARFC proposal vote regarding the upgrade of GHO liquidity strategy, which will end on September 23. The proposal aims to improve the anchoring of GHO and promote diversified liquidity on multiple trading platforms. The proposal mentions that multiple liquidity pools have naturally formed on Maverick, Uniswap, and Curve. The two initial pools that Aave DAO is considering are GHO/USDT/USDC and GHO/LUSD. In addition, the proposal also describes the pros and cons of incentivizing liquidity on Maverick and Bunni/Liquis. TokenLogic will provide Aave DAO with liquidity analysis, estimation, and monitoring, and assist in creating liquidity pools that have not yet been put into production.
CoinEx will undergo system maintenance tomorrow and suspend all services for about 4 hours.
The encrypted trading platform CoinEx announced that it will perform system upgrade and maintenance at 11:00 on September 21st Beijing time, and all services will be suspended for about 4 hours.
DeFi liquidity protocol Balancer announced that Balancer DAO is actively responding to the current DNS attack and working with all parties involved to ensure that the Balancer UI is fully restored. At the same time, Balancer reminds users not to interact with balancer.fi or app.balancer.fi until further notice. Earlier today, Balancer suffered a BGP or DNS hijacking attack. According to analysis by blockchain investigator ZachXBT, the front-end attacker of DeFi liquidity protocol Balancer has made profits of about $238,000, and the stolen funds are currently stored in "0x645710Af050E26bB96e295bdfB75B4a878088d7E".
NFT market LimeWire acquires AI image generation platform BlueWillowAI
NFT marketplace LimeWire has announced the acquisition of AI image generation platform BlueWillowAI. This acquisition comes shortly after LimeWire's launch of LimeWire AI Studio last month. BlueWillow has claimed to have over 2.3 million active users since its launch earlier this year and has created over 500 million images. LimeWire plans to integrate BlueWillow's proprietary text-to-image and image-to-image AI models into its AI Studio. As previously reported by BlockBeats, LimeWire announced the launch of a "Creator Studio" on Polygon, allowing users to create new images or enhance existing ones through various AI models. The platform will also support users in creating AI-generated music using melodies, beats, and a song library. The platform distributes revenue between the artist who uploaded the original content and the creator of the new AI-generated content.
Uniswap Foundation has funded 72 projects in the past year, committing a total of $4.5 million.
The Uniswap Foundation announced that since taking over the Uniswap incentive plan a year ago, the plan has achieved significant results. So far, the foundation has issued 72 grants, of which 40 have been completed. Nine grants have exceeded $100,000, with a total funding commitment of approximately $4.5 million.
aelf establishes global center in Singapore to support Web3 developer ecosystem development
The public chain project aelf has established a global center in Singapore to support the development of Web3 developers in the Asia-Pacific and other regions. Specific measures include launching TMRWDAO to promote cross-industry sharing and collaboration; launching the aelevate plan to provide $150,000 in funding and other support for Web2 game studios to transition to Web3; and launching the $50 million venture capital fund aelf Ventures.
Binance adds CYBER/ETH and MTL/TRY trading pairs
According to the official announcement, Binance will launch the CYBER/ETH and MTL/TRY trading pairs at 16:00 on September 21st Beijing time.
OpenSea plans to launch a creator studio in the coming weeks.
NFT marketplace OpenSea has announced that it will launch a creator studio in the coming weeks, which includes basic no-code tools such as launching community minting and sending minted items directly to wallets. More features will be added to the creator studio in the coming months, including ways to add richer content to collection pages.
Yuga Labs' LotM game season one open beta test will start on September 26th.
According to official sources, the first season of LotM game under Yuga Labs will begin open testing on September 26th. During the first season, users can hatch Mara and, as Koda holders, start collecting fragments and hunting for shards in advance. The test version loot can be forged at the end of each quarter and will include game items that are constantly expanding in LotM.Chicago options trading platform Cboe CEO Edward Tilly has resigned
According to Bloomberg, Edward Tilly, the CEO of Chicago-based options trading platform Cboe Global Markets, has resigned. Prior to this, an investigation found that the CEO had not disclosed personal relationships with colleagues, ending his ten-year tenure. Fredric Tomczyk, a member of the Cboe board of directors, has been appointed as the new CEO of Cboe.Coinbase Pay has integrated with Aptos ecosystem wallet Petra.
According to The Block, Aptos Labs has integrated its Aptos ecosystem Petra crypto wallet with Coinbase Pay to streamline functionality and increase usage. Aptos stated, "With Coinbase Pay, Coinbase users can easily transfer APT to Petra by selecting their bank, debit card, credit card, or even Coinbase account balance."SlowMist: The BGP attack on Balancer is still ongoing, it is recommended to temporarily stop accessing its official websiteAccording to SlowMist Zone Intelligence, Balancer is currently under BGPHijacking attack. Visiting the website link before accessing the wallet will result in a phishing attack. According to CloudFlare's BGP Origin Hijack-17957, the list of victim ASNs includes AS13335, to which Balancer belongs. The SlowMist security team reminds users that the BGP attack against Balancer is still ongoing, and recommends temporarily stopping access to Balancer's website to avoid being attacked.
Binance will support Neo (NEO) N3 network upgrade and hard fork
According to an official announcement, Binance will support the Neo (NEO) N3 network upgrade and hard fork. The specific arrangements are as follows: - The project party will upgrade the network and hard fork at block height 4,120,000 (expected to be September 20, 2023, 08:00 GMT+8); - Binance will suspend token deposit and withdrawal services for the above network at 17:00 GMT+8 on September 20, 2023.
DeFi yield aggregator Gro Protocol will cease operations and dissolve Gro DAO.
According to the Snapshot governance page, the DeFi yield aggregator Gro Protocol's community has voted in favor of the "dissolution of Gro DAO and the cessation of protocol operations" proposal with a support rate of 70.95%, and will provide clear exit strategies for stakeholders. The steps to be implemented thereafter are to extend Groda for 3 months (October 3 to January 3) to focus on dissolving the DAO and stopping protocol operations, with a budget of 180,000 USDC. Users can withdraw assets from GVT, PWRD, and Pools at any time (indefinitely). BlockBeats previously reported that the DeFi project Gro announced the completion of a $7.1 million seed round of financing in March 2021, led by Galaxy Digital and Framework.
dYdX has launched a maximum of 1 million USDC dYdX Chain bug bounty program.
The decentralized derivatives trading platform dYdX has announced the launch of the dYdX Chain Bug Bounty Program, which will offer a maximum reward of 1 million USDC to users who discover vulnerabilities in the v4 contract. The specific amount of the reward will depend on the severity of the vulnerability. The bounty applies to all code found in the v4 chain repository's protocols and indexer folders, as well as all code in the web and client repositories.
Modular Rollup provider Eclipse releases its Mainnet architecture
Eclipse, a customizable modular Rollup provider in the encryption industry, has released its Mainnet architecture. It will use Ethereum as the settlement layer and run the Solana Virtual Machine (SVM) as the execution environment. Data will be published to Celestia to achieve scalable data availability (DA), and RISC Zero will be used to complete ZK fraud proof.
Coinbase L2 network Base has announced the open-source monitoring system Pessimism, which aims to enhance the security of Base (as well as the wider OP Stack and Ethereum ecosystem) by quickly detecting and responding to various protocol threats. Since the launch of Base, the Coinbase team has been running Pessimism internally to monitor the Base mainnet. Base states that Pessimism will be open-sourced as free and unlicensed software.
Arbitrum: There will be no form of airdrop or reward for the restart of Odyssey
According to official documentation, there will be no form of airdrop or reward for the Arbitrum Odyssey reboot. Badges are the only items that users can collect after completing tasks, "of course, there is also fun along the way." Earlier today, Arbitrum announced that Odyssey will be relaunched next week and will partner with the Web3 community activity platform Galxe for a period of 7 weeks. Completing tasks and exploring the 13 projects on Arbitrum One can earn you a custom badge.Funding
According to PR Newswire, Fuze, a digital asset startup in the Middle East, announced the completion of a $14 million seed round of financing, led by Abu Dhabi venture capital firm Further Ventures and participated by Liberty City Ventures. It is reported that Fuze was founded in December 2022, and its white-label solution handles the complexity and regulatory costs of enterprise blockchain, enabling organizations to easily offer digital assets such as stablecoins, cryptocurrencies, central bank digital currencies (CBDCs), and tokenized assets.
The Spring Xcelerator, a startup accelerator (SpringX.net), is scheduled to officially launch, with the application deadline being October 19th. SpringX is jointly initiated by 14 top project founders and 3 leading investment institutions, providing a $20 million funding pool, systematic courses, and strong founder networks and resource support for Web3 entrepreneurs in the seed or angel rounds. The 17 initiators, as alumni of Phase 0, will jointly select projects and hold offline courses and activities spanning 3 months in 5-8 key cities worldwide to help entrepreneurs quickly connect with resources and grow.
Regulation
Philippine SEC collaborates with US SEC to combat cryptocurrency fraud
According to Cointelegraph, the Philippine Securities and Exchange Commission (SEC) held an International Organization of Securities Commissions (IOSCO) investigation and enforcement training seminar last month with the United States Securities and Exchange Commission (SEC) and the Asian Development Bank, aimed at enhancing their comprehensive fraud and scam prevention toolkit in the cryptocurrency-related crime. In addition to the seminar, the Philippine SEC also signed a multilateral memorandum of understanding on cryptocurrency crime with the IOSCO. The regulatory agency also hopes that local legislators will enact new laws that comply with IOSCO standards to enhance its enforcement powers.UK passes online security law applicable to metaverse
The British Parliament passed a new law covering internet security on Tuesday local time, which will also apply to the metaverse. The Online Safety Bill requires companies to assess the likelihood of customers encountering illegal content and the likelihood of children encountering content that could harm them, and requires companies to take measures to mitigate these risks. With the development of the metaverse, especially after Facebook's renaming to Meta, British policymakers believe it is necessary to apply the Online Safety Bill to virtual spaces.
The National Tax Service (NTS) of South Korea announced that 1,432 individuals and companies reported their overseas cryptocurrency accounts this year. The total amount of reported cryptocurrency is $98.5 billion, accounting for over 70% of all reported overseas assets. According to official data, 1,432 individuals and companies reported their overseas cryptocurrency assets. South Korea requires its citizens who hold assets exceeding 500 million Korean won (including cryptocurrency) in foreign accounts to report their holdings.
According to Cointelegraph, Rashawn Russell, a 27-year-old former Deutsche Bank employee, was sued earlier this year for his involvement in a fraudulent cryptocurrency trading scheme. He has admitted to investment fraud and could face up to 30 years in prison. From November 2020 to August 2022, Russell operated a fraudulent cryptocurrency investment fund called "R3 Crypto Fund", promising guaranteed high returns on a series of cryptocurrency investments by leveraging his reputation as an investment banker and licensed financial broker. He defrauded 29 investors of a total of $1.5 million. Once the verdict is effective, he will face up to 30 years in prison for his crimes, and US Federal Judge Sanket J. Bulsara has ordered him to pay over $1.5 million in compensation.
Data
0xAA1 Whale Increases Holdings of 14,938 ETH at an Average Price of $1638According to Spot On Chain, the address starting with 0xAA1 (suspected to be associated with Paradigm researcher Samczsun) increased its holdings of ETH by 14,938 coins in the past 24 hours from Binance, with an average price of $1638 (totaling approximately $24.5 million). Currently, the whale holds 25,841 ETH (approximately $42.4 million).
friend.tech "Keys" price ranking: founder Racer Key ranks first with 7.09 ETH
friend.tech "Keys" price ranking latest data shows: · Platform founder Racer ranks first with 7.098 ETH; · Crypto KOL Vombatus ranks second with 5.513 ETH; · Crypto KOL Hsaka ranks third with 4.795 ETH; · Crypto KOL Herro ranks fourth with 3.813 ETH; · Crypto KOL CL ranks fifth with 3.782 ETH.
Data: Base Network TVL surpasses zkSync Era, reaching $538 million
According to L2BEAT data, Coinbase's L2 network Base TVL has reached $538 million, surpassing zkSync Era network, an Ethereum Layer2 scaling solution, which has a TVL of $435 million.Discord trading bot None Trading announced shutdown, token plummeted over 70% in 24 hours.
Discord-based DeFi and NFT trading bot None Trading announced that due to serious vulnerabilities in its infrastructure, the team has lost a large amount of funds as well as team tokens critical to its operation. In addition, the team has lost three core members essential to maintaining the project's healthy operation. Therefore, the team has decided to cease company operations and will begin archiving in the next few hours, and if necessary, shut down the None Trading website, Discord server, and Telegram channel. Users will have 30 days to claim rewards before the dashboard goes offline. Additionally, users have 30 days to complete relevant transactions before the bot is permanently offline. Users can use the withdrawal, get_priv, and portfolio commands to operate. All other functions and commands have been disabled. According to CoinGecko data, the project's token has plummeted more than 70% in the past 24 hours.
Data: In the past half hour, 4 million OP have been withdrawn from OKX to 4 newly created addresses
According to on-chain analyst Yu Jin's monitoring, in the past half hour, 4 million OP tokens (equivalent to approximately 5.52 million USD) were withdrawn from OKEx and transferred to four newly created addresses, with each address receiving 1 million tokens.
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