Top News:

1. Blur hinted in a post that Season 2 will reach an important milestone on November 20th.

2. Dapper Labs CTO published an article titled "EVM on Flow", aiming to achieve full EVM equivalence on Flow.

3. Arkham: Tornado Cash remains the largest encrypted mixer on Ethereum, even after being sanctioned by the US Treasury Department.

4. Messari: In the third quarter, L2 transaction volume accounted for 61% of the total transaction volume on Ethereum.

5. Bitstamp is in negotiations with three European banks to provide cryptocurrency services.

Project Updates

Dapper Labs CTO published "EVM on Flow" to achieve full EVM equivalence on Flow.

Dapper Labs CTO Dieter Shirley has released a proposal in the Flow community titled "EVM on Flow - Beyond Solidity", which outlines how to introduce a way to achieve full EVM equivalence on Flow. The aim is to enable developers to deploy any Ethereum dApp on Flow without changing the code, in order to fully utilize Flow's native features. The proposed implementation of EVM on Flow will allow developers to easily combine many of the features and functionalities of Cadence, a resource-oriented programming language designed for smart contracts and digital assets, with existing tools and smart contracts based on Solidity for Ethereum and other EVM-compatible networks.

Aave community initiates "Temperature Check Proposal for crvUSD on Aave V3 Ethereum Lending Pool"

According to the governance page, the Aave community has initiated a temperature check proposal to "launch crvUSD on Aave V3 Ethereum lending pool". The proposed supply cap and borrowing limit are 60 million and 50 million crvUSD respectively, and will be submitted for Snapshot voting after consensus is reached.

Arkham: Tornado Cash remains the largest encrypted mixer on Ethereum after being sanctioned by the US Treasury

The encrypted data tracking platform Arkham stated in a post that even after Tornado Cash was sanctioned by the US Treasury Department in August 2022, it remains the largest cryptocurrency mixer on Ethereum. In the past 30 days, $77.35 million in assets have been transferred on the Ethereum mainnet through Tornado Cash.

Tornado Cash operates on 7 different blockchains and can mix 10 different cryptocurrencies. The asset with the highest amount of mixing is the native ETH on the Ethereum mainnet. During the peak period in July 2021, the Tornado Cash pool contract held over $700 million worth of ETH. After being sanctioned by the US Treasury, the assets in Tornado Cash decreased by over 60%, and the transfer volume also significantly decreased. Tornado's TVL is currently around $187.9 million.

Blur implies in the article that Season 2 will reach an important milestone on November 20th.

Blur posted on social media: "Blur Season 2. November 20." implying that Season 2 will reach an important milestone on November 20th.

Ripple CFO Kristina Campbell has resigned.

According to The Block, Ripple's CFO Kristina Campbell has left the company after serving for approximately two and a half years. According to her LinkedIn page, Kristina Campbell is no longer working at Ripple and will be serving as the Chief Financial Officer at digital healthcare provider Maven Clinic starting this month. This executive, who graduated from Harvard University, joined Ripple in April 2021.

Bitstamp is negotiating with three European banks to provide cryptocurrency services.

According to CoinDesk, Bitstamp is in talks with three European banks to provide cryptocurrency services in Q1 of next year. Robert Zagotta, the global chief business officer and CEO of the US division of Bitstamp, headquartered in Luxembourg, said that the relatively new Bitstamp-as-a-service product has generated a lot of interest in Europe. The service aims to help banks and fintech companies provide cryptocurrency trading.

Alameda co-founder resigns: Alameda's financial situation was already chaotic in 2018, and the resignation was due to concerns about SBF's character and manipulative behavior.

According to DL News, Michael Lewis, the author of "The Big Short," revealed in his new book "Going Infinite" that he co-founded the hedge fund Alameda with FTX founder SBF in 2017, and Tara Mac Aulay, who left with other members of the management team in April 2018, said that part of the reason for her decision to leave was "concerns about risk management and business ethics," as well as the disappearance of tens of millions of dollars from FTX's hedge fund department.

Lewis states in the book that Aulay had long believed that SBF was dishonest and manipulative. According to Aulay, working with SBF was not easy. "SBF had high demands and expected everyone to work 18 hours, giving up any idea of a normal life. He was often late for meetings, didn't shower for weeks, and had clutter and old food around him. Falling asleep at the desk was common. Most of the team's time was spent suppressing SBF's insatiable desire for trading. The entire management team wanted to leave." SBF's complete disregard for risk management led to Aulay's resignation.Lewis said that by early 2018, Alameda's financial situation was in a "chaotic state". Its trading system lost about $14 million, but its staff could not quantify the specific amount. An Alameda employee noticed that $4 million worth of XRP tokens were also missing. Mac Aulay and the entire management team, as well as half of the employees, left Alameda on April 9, 2018. They received severance pay ranging from $1 million to $2 million.

Instadapp has launched a lending protocol called Fluid, which will be officially released in January next year.

According to The Block, DeFi aggregator Instadapp has launched a lending protocol called Fluid, which will be officially released in January next year. Fluid combines the features of Aave, Compound, Uniswap, Maker, and Curve, and has been developed for 1.5 years to solve the problem of liquidity fragmentation in DeFi. Currently, Fluid is in the preliminary testing phase. The team expects to complete the audit by the end of November and plans to hold a bug bounty program in December. The protocol is expected to be officially released in January.

Polkadot community proposes adjusting the ideal staking rate to incentivize staking in response to the upcoming unlocking of 100 million DOT

According to PolkaWorld, on October 23rd, approximately 100 million DOT tokens locked in the first Crowdloan of Polkadot will be unlocked. To cope with this unlocking and to better adapt to the future Polkadot 2.0 situation, the community initiated Proposal 166 to slightly increase the ideal staking rate of the Polkadot network, expected to increase from 52.5% to 60%, so that the network can accommodate newly entered DOT tokens into the staking system after unlocking without reducing staking rewards. This proposal is currently in the public voting stage, with a current approval rate of 99.4%. If the vote is successfully passed, the adjustment is expected to be executed two days before the unlocking date.

Binance App mobile terminal has fully opened the "copy trading" function.

According to official sources, the Binance App mobile terminal has fully opened the "Copy Trading" function. Users can enable the copy trading function on the Binance App and automatically follow the real-time contract trading strategy of the leading trader. The Binance "Copy Trading" function was launched in August 2022 and opened on the web on September 12. Now, the Binance contract "Copy Trading" function has been fully opened, aiming to allow Binance users to benefit from learning the professional knowledge of senior traders and upgrade their trading experience.

BNB Chain has launched a two-month airdrop marathon to enhance ecosystem activity.

According to official sources, BNB Chain has announced a two-month airdrop marathon aimed at increasing ecosystem activity. It is reported that one to three projects will participate in the event each week, and completing the tasks set by the project team will qualify participants for the airdrop, with the project team providing tokens as rewards.

LQTY 24-hour increase exceeds 20%, now priced at $1.45

According to OKX market information, LQTY has increased by 20.24% in the past 24 hours and is currently priced at $1.45.

Regulation

Supporter of Bitcoin, US presidential candidate Robert Kennedy Jr. will withdraw from the Democratic Party and run as an independent

The Associated Press reported that Robert F. Kennedy Jr., a US presidential candidate who supports Bitcoin, announced that he will withdraw from the Democratic Party and run as an independent. Earlier, Kennedy had stated that if elected, he would exempt capital gains taxes on cryptocurrency and said he would "be willing to use hard assets such as gold, silver, platinum, and Bitcoin to support the dollar and enhance its competitiveness."

Bloomberg analyst: SEC is unlikely to appeal against Grayscale ruling

Bloomberg analyst James Seyffart stated on social media that he does not believe the SEC will appeal the Grayscale ruling, as even if they did, the SEC would not be successful. Earlier reports indicated that the US SEC must decide how to respond to the court's ruling in favor of Grayscale by this Friday.

Former Alameda Research CEO Caroline will testify in the SBF trial this week

According to Cointelegraph, many former FTX and Alameda insiders will attend the SBF trial this week, including former Alameda Research CEO Caroline Ellision. Caroline is expected to testify as early as Tuesday, and is expected to focus on a meeting with Alameda employees in November 2022, during which she admitted to using client funds to repay creditors, which was approved by SBF.

FTX advisor protected over $400 million in assets during FTX attack using their hardware wallet

According to WIRED, during the hack of FTX last year, FTX advisor Kumanan Ramanathan transferred 400-500 million dollars worth of cryptocurrency assets to his personal Ledger Nano hardware wallet, thereby reducing the losses. These assets were stored in Kumanan Ramanathan's wallet until BitGo was ready to custody FTX assets.

Or affected by the new regulatory rules in the UK, major CEXs are seeking to cooperate with UK companies to obtain regulatory approval.

According to The Block, major CEXs are seeking partnerships with UK companies to obtain regulatory approval as new regulations come into effect. Coinbase and OKX are partnering with Archax to obtain approval for their financial promotion activities. In addition, Binance announced in a blog post on October 8th that it has partnered with Rebuilding Society, a regulated P2P lending company that has only issued £35 million ($42.6 million) in loans since its launch in 2013. George Morris, a partner at Simmons & Simmons law firm, said, "These UK-based partner companies approve promotional activities when they reach agreements with trading platforms and actually take responsibility for these promotional activities. This is a mutually beneficial form of cooperation."

Hong Kong police: Fake Binance phishing SMS fraud appeared, 11 cases reported involving HKD 3.5 million

According to Ming Pao, the Hong Kong police have stated that they have discovered criminals impersonating Binance and sending phishing text messages in Hong Kong. Once users click on the text message, their Binance accounts can be stolen and the assets in their accounts can be transferred. In the past two weeks, the police have received 11 reports of virtual assets being transferred out of Binance accounts, with a total amount of HKD 3.5 million involved.

Hong Kong Monetary Authority: mBridge will launch cross-border CBDC payment in 2024

The Hong Kong Monetary Authority announced that mBridge is expected to launch cross-border CBDC payments in 2024. mBridge is a collaborative CBDC platform developed by the central banks of Hong Kong, China, Thailand, and the United Arab Emirates. The project is coordinated through the Bank for International Settlements (BIS). (South China Morning Post)

Funding

Zhang Yimou's Metaverse Company "Dang Hong Qitian" Completes Hundreds of Millions of Yuan in Series C Financing

Beijing's popular Qitian International Culture and Technology Development Group Co., Ltd. (referred to as "Qitian") has completed a several hundred million yuan C-round financing, jointly invested by Huakong Fund, "China Vision Valley" Industrial Fund, NetEase, BOE Technology Group, CITIC Century Asset Management, Jiahe Sheng Capital, and Ye Cao Venture Capital. According to Qitian's official website, famous director Zhang Yimou serves as its co-founder and artistic director. Tianyancha data shows that Qitian has completed eight rounds of financing so far. Among them, B rounds to B++ rounds were concentrated from October 2021 to December 2022, which was the peak period of investment in the metaverse. It is worth noting that in these three rounds of financing, well-known enterprises' private equity funds such as Xiaomi Group, NetEase Capital, CITIC Group, and BlueFocus participated. Qitian's positioning is a comprehensive solution and product landing for "XR content production + vehicle development + digital operation," involving multiple fields such as "XR+ amusement park," "XR+ technology show," "XR+ e-sports," and "XR+ sports." Earlier reports stated that in January of this year, Qitian, in which Zhang Yimou holds shares and serves as a co-founder, completed a B++ round of financing with an unknown amount, and NetEase participated in this round of investment through NetEase Media Technology (Beijing) Co., Ltd.

Bitcoin infrastructure platform OrdinalsBot completes $1 million seed round financing, with participation from Lightning Ventures and others

According to Tech.eu, OrdinalsBot, an infrastructure platform focused on Bitcoin Ordinals, has completed a $1 million seed round of financing. The investors in this round include Kestrel 0X1, Lightning Ventures, Bitcoin Magazine Ecosystem Fund, Bitcoin Frontier Fund, Angsana Investments, and Deep Ventures, as well as individual investors Sebastien Borget, Howard Morgan, Micah Spruill, Ivan Brightly, and Dillon Healy. It is reported that OrdinalsBot has launched an SDK designed to help developers integrate Ordinals functionality into their projects.

Hadean, the developer of metaverse infrastructure, has completed a new round of financing with participation from Yuga Labs.

The developer of the metaverse infrastructure, Hadean, has completed a new round of financing with investment from Yuga Labs. The amount of financing has not been disclosed. Yuga Labs stated that Hadean provides critical technology for Yuga's platform, optimizing high-fidelity virtual experiences and bringing creators and players together on a large scale. BlockBeats previously reported that Hadean announced a $5 million financing round in March of this year, with participation from Ericsson Ventures, Metrea Discovery, VU Venture Partners, Sanctor Capital, and Tirta Ventures.

Longevity research community VitaDAO announces the establishment of a biotechnology company with an initial funding of $300,000

VitaDAO, a longevity research community, announced the establishment of a biotechnology company, Matrix Biosciences. The company has raised an initial funding of $300,000, with more funds expected to be in place by early 2024. According to reports, the company will expand its research on the longevity and anti-cancer properties of naked mole rats, and investigate whether compounds discovered in naked mole rats can extend human lifespan.

虚假用户识别提供商 Verisoul 完成 325 万美元融资，BITKRAFT Ventures 领投 Translation:

Fraudulent user identification provider Verisoul completes $3.25 million financing, led by BITKRAFT VenturesAccording to official sources, Verisoul, a provider of false user identification, has completed a $3.25 million financing round. The round was led by BITKRAFT Ventures, with participation from King River Capital, Third Prime, HashKey Capital, and individual investor Mike Monovoukas, CEO of AcuityMD. Verisoul integrates data collection, machine learning models, and workflow creation into one platform, allowing customers to prevent false and duplicate registrations, stop automated activities, and detect account sharing, thereby filtering out real users.

Q3 Cryptocurrency Venture Capital Falls 63% YoY, Reaching the Lowest Level Since 2020

According to data from research firm PitchBook cited by Bloomberg, global venture capital investment in cryptocurrency startups fell to its lowest level since 2020 in the third quarter, down 63% from the same period last year. This quarter, venture capital firms invested only $2 billion in the cryptocurrency sector worldwide, a small fraction of what they invested during the boom times of the industry. PitchBook analyst Robert Le said, "We won't see large deals anymore. Smaller deal sizes are one of the driving factors behind the overall decline in investment transactions." Large fundraising activities during the cryptocurrency bull market benefited companies such as FTX, NFT marketplace OpenSea, and NFT creator Yuga Labs. Now, the retreat of venture capital may force those companies that have already cut costs and laid off employees to make difficult choices. Robert Le said, "If cryptocurrency startups cannot raise a round of funding, even if their valuations are lowered, they will either go bankrupt or be acquired at much lower valuations."

Data

In September, NFT trading volume fell 37% month-on-month, hitting a two-year low.

According to data from The Block, the NFT trading volume in September reached $224 million, a 37% decrease compared to the previous month. This marks the seventh consecutive month of declining trading volume, with monthly trading volume hitting a two-year low. In addition, the total number of transactions in the NFT market slightly increased in September, rising from 483,000 to 504,000 transactions.

Messari: L2 transaction volume accounted for 61% of Ethereum's total transaction volume in Q3

According to the Ethereum State of the Third Quarter 2023 report released by crypto analysis firm Messari, L2 transactions accounted for 61% of all Ethereum transactions in the third quarter of 2023. This growth was mainly driven by the launch of the Base mainnet and the popularity of the decentralized social protocol friend.tech. In a short period of time at the end of this quarter, the transaction volume of Base alone exceeded that of the Ethereum mainnet. Optimism also saw significant growth this quarter, with transaction volume increasing by 40%. Base and Optimism seem to have "eaten away" some of Arbitrum's activity, with its transaction volume decreasing by 36%. Nevertheless, Arbitrum remains the largest L2, with a daily average transaction volume of 600,000, while Optimism and Base have transaction volumes of around 400,000.

Pendle Finance ecosystem fund transferred 1 million PENDLE tokens to Binance 1 hour ago.

According to the monitoring of Yu Jin, the Pendle Finance ecological fund transferred 1 million PENDLE tokens (worth about $660,000) to Binance one hour ago. In addition, the address received 23 million PENDLE tokens (worth about $15.24 million) from a time lock contract unlocking yesterday.

Due to the news received by DWF Labs, UFT rose more than 5% in a short period of time.According to market data, UFT has risen more than 5% in a short period of time and is currently priced at $0.2319. Earlier, DWF Labs received 1 million UFT tokens transferred by the UniLend Finance team, worth approximately $226,500.

DWF Labs received 1 million UFT transferred by UniLend Finance team

According to The Data Nerd, DWF Labs received 1 million UFT tokens transferred by the UniLend Finance team, worth approximately $226,500.

CoinShares: Net inflows of digital asset investment products were $78 million last week

According to CoinShares' weekly report, the net inflow of funds for digital asset investment products was $78 million last week, marking the second consecutive week of inflows and the largest inflow since July. ETP trading volume also increased by 37% to $1.13 billion this week. Meanwhile, the bitcoin trading volume on trusted trading platforms also increased by 16%. In addition, there is still a divergence in terms of regions, with 90% of the inflows coming from Europe, while the United States and Canada combined only saw an inflow of $9 million, indicating a continued division in market sentiment. Last week, the net inflow of bitcoin investment products was $43 million, although some investors saw the recent price strength as an opportunity to add short bitcoin positions, with an inflow of only $1.2 million during the same period.

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