Selected News:

1. Waterdrip Capital founder: At least 10 Bitcoin Layer 2 networks will be launched next year.

2. The Safe intelligent wallet project released a "07.12.23" preview with pictures, and may release a new product;

3. Bitcoin Core developer Luke Dashjr admitted the inscription and "softened" to the community, and ORDI rose by about 20% in a short time.

4. JTO airdrop application window will open at 0:00 on December 8th.

5. In the past 24 hours, the entire network has experienced a liquidation of over 200 million US dollars, with ORDI's liquidation of 24.7 million US dollars second only to BTC and ETH.

Price Observation

ORDI continues to decline and falls below $42, with a drop of 34% in the past 8 hours

On December 6th, according to OKX market data, ORDI continued to decline and fell below $42, now trading at $41.86. The price has dropped by 34% in the past 8 hours and 15.4% in the past 24 hours.

ORDI rebounds and breaks through $58, up more than 30% in the past hour

On December 7th, according to OKX market data, ORDI rebounded and broke through $58, now priced at $58.2, rising over 30% in the past hour.

Project Updates

Cosmos has released the CometBFT V1 Alpha version to reduce bandwidth consumption and achieve modularity.

The Cosmos team announced the release of CometBFT V1 Alpha on social media. It is reported that the features of this version include reducing bandwidth consumption, implementing modularity, enhancing the experience of integrators, and improving development speed.

Jamie King, who left the development company of "GTA" in 2006, has joined the Portal Foundation as an advisor.

According to Decrypt, Dan Keene, Chief Business Officer and founding team member of Portal, has announced that Jamie King, one of the founders of Rockstar Games, the maker of the GTA series of games, has joined the Portal Foundation as an advisor to help oversee the project's work on crypto games.

It is reported that Jamie King left the Rockstar Games team in 2006. At that time, the team had already released "GTA: Vice City" and "GTA: San Andreas" and achieved great success. Jamie King later stated in an interview that he left because of personal and team disagreements on the direction of the "GTA" game.

Bitcoin Core v26.0 has been officially released.

According to official sources, Bitcoin Core v26.0 has been officially released, adding experimental support for the v2 transmission protocol defined in BIP324. In addition, nodes with multiple reachable networks will actively attempt to establish at least one external connection in each network, which improves the individual resistance of nodes to partition attacks and the network-level resistance to partition attacks. Users no longer need to take active measures to ensure connection to multiple enabled networks. The new version also adds "loadtxoutset", which allows loading UTXO snapshots in the format generated by "dumptxoutset".

Iris Energy announced a $18.6 million purchase of a batch of Bitmain T21 mining machines.

According to official sources, Bitcoin mining company Iris Energy announced a $18.6 million investment to purchase a batch of Bitmain T21 mining machines (1.3 EH/s).

It is reported that Iris Energy's expansion project at the 80MW data center in Childress is still on schedule for gradual delivery from January 2024 to the second quarter of 2024, supporting the company's total computing power to increase to 10 EH/s.

Solana Foundation: Has purchased 10,901.2 tons of carbon credits on-chain to offset Solana Network's carbon footprint in 2022

According to official sources, the Solana Foundation released its latest energy usage report today, announcing that Solana has offset 100% of its network's carbon footprint for the first time by purchasing carbon offsets entirely on-chain.

It is reported that during the six-month period from April 1, 2023 to September 30, 2023, the carbon footprint of the Solana blockchain totaled 4,392.9 tCO2, with an annualized amount of 8,785.8 tCO2. Since the last energy usage update, the energy usage per transaction on Solana has decreased by 25% and the total emissions have decreased by 17.5%.

In addition, to fulfill its commitment to maintaining carbon neutrality on the Solana network, the Solana Foundation has purchased 10,901.2 tons of carbon credits to offset the network's carbon footprint in 2022. These credits were purchased entirely on-chain for the first time in history, through ecoToken and Sunrise Stake.

Smart wallet project Safe releases "07.12.23" preheating pictures and may launch new products

The intelligent wallet project Safe has released "07.12.23" preheating information on social media. Currently, it has cooperated with multiple projects including CoW DAO and Gnosis Chain to release relevant graphics and text, and may also release new products.

Wormhole launches cross-chain instant data retrieval Wormhole Queries

According to official sources, cross-chain infrastructure Wormhole has announced the launch of cross-chain instant data retrieval method Wormhole Queries, allowing application developers to extract any on-chain data as needed. Wormhole claims that compared to the push model, Queries provides a delay of less than 1 second and can reduce gas fees by 84%. Wormhole Queries introduces a pull model, where integrators submit query requests to the Wormhole Guardian network, which processes these requests and publishes results for on-chain data verification and consumption.

BTC/USDT、ETH/USDT、XMR/USDT、LTC/USDT、AAVE/USDT、DASH/USDT、COMP/USDT、XCH/USDT、ETC/USDT、ZB/USDT、USDT/QC。

According to the market data from OKX, DOGE broke through $0.01 today and has seen a 34% increase in the past 15 days.

Waterdrip Capital founder: At least 10 Bitcoin Layer 2 networks will go live next year

Waterdrip Capital founder Jademont spoke at the "Bitcoin Core Developer Meeting: What Impact Will Ordinals Bring?" event hosted by Space, stating that Waterdrip Capital has currently invested in 7-8 Bitcoin Layer 2 network projects. According to the information they currently possess, there will be at least 10 Bitcoin Layer 2 networks launched next year.

In the past 12 hours, ORDI has liquidated $14.94 million, second only to BTC.According to Coinglass data, ORDI liquidated $14.9409 million in the past 12 hours, second only to BTC ($13.77 million in Ethereum liquidations). Long positions accounted for approximately $9.286 million in liquidations, while short positions accounted for approximately $5.655 million.

a16z shares trends worth paying attention to in the cryptocurrency industry in 2024, including the rise of modular technology stacks, mainstream adoption of SNARKs, and the combination of AI and blockchain.

The well-known venture capital firm a16z recently released its "Big Ideas" list of what technology builders may focus on in 2024, covering multiple fields including US vitality, biotechnology, consumer technology, encryption, enterprise, financial technology, gaming, infrastructure, and more.

Data: Over 200 million US dollars were liquidated in the past 24 hours, with ORDI liquidating 24.7 million US dollars, second only to BTC and ETHAccording to Coinglass data, the total liquidation in the past 24 hours exceeded $200 million, with ORDI liquidating $24.7 million, second only to BTC ($38.79 million) and ETH ($29.3 million).

Additionally, ORDI long positions were liquidated for $14.48 million USD and short positions were liquidated for $10.22 million USD.

In the past three months, short sellers of cryptocurrency stocks have lost over $2.6 billion, with 50% of the losses coming from shorting Coinbase.

According to Decrypt, since Bitcoin hit a three-month low of $25,152 on September 11th, its price has surged 75% to its current level of $43,924. This momentum has caused short-term traders of cryptocurrency stocks to lose more than $2.6 billion in less than three months. The latest report from financial data company S3 Partners shows that cryptocurrency stocks represented by Coinbase and MicroStrategy have followed in the footsteps of Bitcoin's rise, catching short sellers off guard.

With the strong rebound in Bitcoin prices, Coinbase's stock price has risen 51% in the past month to $143.63; MicroStrategy, which holds about $6.6 billion in Bitcoin, has risen 82% since October to $568.88. These huge fluctuations in stock prices have resulted in short sellers of cryptocurrency stocks losing $2.656 billion in the past three months, with over 50% of the losses coming from shorting Coinbase stock and another 25% from shorting MicroStrategy stock.

Financing Express

Worldcoin Foundation will allocate $5 million to build a "fairer system".

According to Coindesk, the Worldcoin Foundation announced a $5 million community funding program called "Wave0" today. These grants are intended to allow developers to "focus on building resilient technology and fairer systems on Worldcoin," and funding will be provided in the form of WLD tokens.

Remco Bloemen, the protocol leader of Worldcoin, said in an interview that these grants are not only for developers, but also for the community to make greater efforts, including raising awareness and educating people about the importance of the technology in addressing "income inequality, governance, and other survival risks".

Versatus, an Ethereum scaling startup, has completed a $2.3 million seed round of financing with a valuation of $50 million.

According to The Block, Versatus Labs, a startup company focused on Ethereum scalability (formerly known as VRRB Labs), announced that it has completed a seed round of funding worth $2.3 million with a valuation of $50 million. NGC Ventures, Republic Crypto, and Hyperithm participated in the funding.

Previously, the company had completed a $1.4 million seed round financing in February of this year, and has now received a total of $3.7 million in financing. Versatus is currently building a "stateless Rollup" called LASR. LASR is currently in the Alpha stage and is expected to launch on the Ethereum testnet in the first week of January next year, with plans to go live on the mainnet in mid-March.

Regulatory News

US District Judge accepts guilty plea from former Binance CEO CZ

According to The Block, court documents from the Western District Court of Seattle show that Judge Richard Jones has accepted a guilty plea from former Binance CEO CZ. CZ pleaded guilty to charges of money laundering and violating sanctions, and the case concluded after several years of investigation by federal regulatory agencies. Binance has agreed to pay $4.3 billion, making it one of the largest corporate settlements in history. CZ has agreed to pay a $50 million fine and resign from his position as CEO.

Terraform Labs requests judge to have jury rule on whether UST and LUNA tokens are securities

According to The Block, Terraform Labs has filed an application with a New York judge this week, requesting that a jury decide whether its developed UST stablecoin and LUNA cryptocurrency are securities. The US Securities and Exchange Commission (SEC) insists that this matter should be decided by a judge.

SEC sued Terraform Labs and its co-founder Do Kwon in February, accusing them of "issuing and selling a series of interrelated cryptographic asset securities, most of which were not registered for trading," raising billions of dollars from investors. On Monday of this week, Terraform Labs' lawyer David Kornblau wrote in a letter to Judge Jed Rakoff that "it should be up to the jury to decide whether the SEC has met its burden of proving that UST, LUNA, wLUNA, and MIR tokens are securities." This letter came after the SEC submitted a letter arguing that a jury has almost never decided whether something is an investment contract.

Founder of Bitzlato, a cryptocurrency trading platform, pleads guilty to illegal fund transfer

The Russian national founder and major shareholder of Bitzlato Ltd., Anatoly Legkodymov, pleaded guilty today in a New York federal court to operating an illegal money transfer currency exchange business. This charge stems from Legkodymov's primary ownership of the cryptocurrency trading platform Bitzlato Ltd., which served as a major channel for dark web market buyers and ransomware criminals. As part of the plea agreement, Legkodymov agreed to dissolve Bitzlato and relinquish all rights to the approximately $23 million in Bitzlato assets that were seized.

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