headlines
headlines
Time Magazine Plans to Accept ApeCoin for Subscription Payments
According to previous news, Time Magazine in the United States allows payment of subscription fees through cryptocurrencies (BTC, XRP, ETH, DOGE) and announced that it will add Bitcoin as an asset to its balance sheet. (U. Today)
Foreign media: Honduras may officially recognize Bitcoin as legal tender
Honduras may be the next country, after El Salvador, to officially recognize Bitcoin as legal tender. The country’s president, Xiomara Castro, reportedly said that El Salvador should not be the only country “escaping dollar hegemony.”
Malaysian Ministry of Communications Proposes Adoption of Cryptocurrencies as Legal Tender
Project News
Vitalik Buterin, the founder of Ethereum, shared the idea of Proto-danksharding on Twitter, which focuses on the data verification scenarios of blob carrying transactions that EVM cannot execute. Proto-danksharding will replace darksharding, a sharding technique in which only one proposer chooses all transactions and all data that goes into this or that slot, instead of choosing a separate proposer for each shard. The proposed solution can be an ad-hoc variant as it includes some implementation of sharding techniques. At the same time, it leads to an increase in data usage because it requires a larger block size. The founders of Ethereum proposed to automatically delete blob data every 30 days to prevent excessive data and memory storage requirements of the network.
V God of Ethereum proposes a new sharding proposal: EIP-4844
Vitalik Buterin, the founder of Ethereum, shared the idea of Proto-danksharding on Twitter, which focuses on the data verification scenarios of blob carrying transactions that EVM cannot execute. Proto-danksharding will replace darksharding, a sharding technique in which only one proposer chooses all transactions and all data that goes into this or that slot, instead of choosing a separate proposer for each shard. The proposed solution can be an ad-hoc variant as it includes some implementation of sharding techniques. At the same time, it leads to an increase in data usage because it requires a larger block size. The founders of Ethereum proposed to automatically delete blob data every 30 days to prevent excessive data and memory storage requirements of the network.
SushiSwap launched the community proposal Sushi Legal Structure, planning to establish an association or foundation for Sushi DAO to clarify the rights and obligations of token holders and contributors, limit their responsibilities and reduce future risks. There are also plans to create various service entities for SushiSwap contributors, with Swiss association law currently the preferred solution.
GameFi and NFTs
GameFi and NFTs
CCTV Finance: Metaverse becomes the highlight of South by Southwest, NFT project Doodles appears
According to a CCTV financial channel report, Metaverse became the highlight of this year’s South by Southwest Conference in the United States. In the report screen of the Metaverse exhibition area of the South by Southwest Conference, there appeared related venue layouts with the theme of NFT project Doodles.
Cheil Worldwide, an advertising company under Samsung, announced its official entry into the NFT business at a recent shareholders meeting. Cheil Worldwide will issue NFT and launch the NFT trading market. The company is currently still hiring. Starting from the 14th of this month, we will recruit overseas masters and doctors for positions in the development of NFT and blockchain software.
security incident
Gensyn, a distributed computing protocol, announced the completion of a $6.5 million seed round of financing, led by EdenBlock, with participation from Galaxy Digital, Maven11, Coinfund, Hypersphere, and ZeePrime.
DEX aggregation protocol Li.Finance was hacked and all trading functions have been disabled
DEX aggregation protocol Li.Finance announced that its smart contracts have potential vulnerabilities, are being hacked, and all trading functions have been disabled. This vulnerability has now been fixed.
In addition, the BlockSec alert system detected that the attackers stole about $600,000 from 29 wallets. Paidun tweeted that Li.Finances exploiters wallet holds about 200 ETH.
Investment and Financing
Gensyn, a distributed computing protocol, announced the completion of a $6.5 million seed round of financing, led by EdenBlock, with participation from Galaxy Digital, Maven11, Coinfund, Hypersphere, and ZeePrime.
Gensyn is a distributed computing network that monetizes unused computing power in a verifiable way using the blockchain to verify that deep learning tasks have been executed correctly and trigger payments through tokens. (TechCrunch)
P2E Game KlayCity Receives $3.75M in Seed Funding Led by Krust and Animoca Brands
Gensyn is a distributed computing network that monetizes unused computing power in a verifiable way using the blockchain to verify that deep learning tasks have been executed correctly and trigger payments through tokens. (TechCrunch)
It is reported that KlayCity is a P2E game developed based on the Klaytn network, which takes place in 2080 and replicates the earth scene. Players use NFT, LAY tokens and ORB tokens to participate in various activities, including scavenging, exploration and upgrading. Supported by the investment company of the version of WeChat KAKAO. KlayCity has successfully completed the Land NFT pre-sale at a price of 500KLAY per NFT on February 10. OpenSea data shows that NFT No. 684 was sold at a maximum of 120,000 KLAY on March 11, which is 240 times the initial price. Additionally, new KlayCity features will be announced soon in the first half of 2022. (Prnewswire)
Struct Finance, a DeFi protocol, completed a $3.9 million seed round of financing, with participation from Blizzard Fund, Assymets Technologies, Avalaunch, Bixin Ventures, FBG Capital, SCC Investments, and Woodstock.
DeFi protocol Struct Finance completes USD 3.9 million in seed round financing, Blizzard Fund and others participate in the investment
The new funding will be used to develop the tools necessary to allow users to customize, build and invest in decentralized structured products, with a focus on institutional tools as this brings most liquidity and new users. Institutions will be able to customize interest rate products and create new solutions tailored to the needs of individual investors. (CryptoDaily)
Encrypted information service provider The TIE completed a US$9 million Series A financing at a valuation of US$100 million. Blizzard led the investment, and executives from Golden Tree Asset Management, NYDIG, Hudson River Trading, Republic Capital, Gemini Frontier Fund and Nexo participated cast. Additionally, the company announced that John Wu, president of Ava Labs, will join its board of directors.
Encrypted data company The TIE completes $9 million Series A financing at a valuation of $100 million, led by Blizzard
It is reported that The TIEs core product is the SigDev terminal, which provides market, company and news data on a single platform. With the new funding, the company plans to expand into three verticals: institutional solutions, data redistribution, and token relationships.
global policy
global policy
Fed swaps suggest 6 more 25bp rate hikes in 2022
Fed swaps indicate that the Fed will raise interest rates six times by 25 basis points each by the fourth quarter of 2022. (Sina Finance)
Australia Set to Take Big Move in Regulating Crypto
Australia is preparing to regulate the cryptocurrency industry as part of a major government effort to modernize the country’s financial system, the Herald Sun reports.
The regulatory framework will be based on a parliamentary report prepared by Senator Andrew Bragg. Treasurer Josh Frydenberg backed the plan in December. About a quarter of Australians have had exposure to cryptocurrencies, underscoring the need for a new regulatory framework. (U. Today)
Thailand SEC: Will not focus on regulating consumer tokens, issuers need to disclose token information
Thailands SEC held an online meeting on Monday to discuss regulation of ready-to-use utility tokens. SEC Assistant Secretary-General Jomkwan Kongsakul explained that utility tokens are used to exchange goods and services, and that the SEC will not focus on regulating tokens for consumption.
She further assured that the SEC is not trying to block innovation, but simply wants traders to have enough information to consider. Kongsakul pointed out that the best way to regulate information is through authorization. Without authorization, the SEC will not be able to regulate the listed tokens. It is reported that the SEC will divide the authorization process into two categories: fast track (fast track) and normal track (normal track). (The Nation Thailand)
India may impose 28% GST on crypto transactions
The Indian government is working to determine whether cryptocurrencies can be classified as goods or services, which could implement a different tax scheme for digital assets. Indian government officials believe that crypto transactions are similar to gambling and lotteries, which are subject to a 28% goods and services tax (GST). Currently, cryptocurrencies are classified as financial services in India, which imposes an 18% GST on transactions on exchanges. As previously reported, India’s finance minister, Nirmala Sitharaman, announced in February plans to impose a 30% tax on crypto income and deduct 1% tax at source (TDS) on each transaction. And the deputy governor of the RBI even suggested an outright ban on cryptocurrencies. The Indian government is working on cryptocurrency legislation. (Forkast)
Global financial regulators are carefully monitoring cryptocurrency transactions to ensure compliance with sanctions against Russia. The Financial Stability Board (FSB) is made up of officials from financial regulators, central banks and finance ministries from 20 economies. “The FSB is monitoring conflict situations related to cryptocurrencies,” FSB Secretariat member Patrick Armstrong told a conference in London.
Earlier news, in order to fill any sanctions loopholes, the European Union issued guidance on March 9, confirming that sanctions against Russia include encrypted assets. In addition, British financial services minister John Glen said that the UK’s regulatory efforts to include cryptocurrency-related companies in the anti-money laundering system will strengthen current sanctions compliance. We believe that these measures will actively support the governments response to the Russia-Ukraine conflict, he said.
big company action
Goldman Sachs Announces First OTC Crypto Trade With Galaxy Digital
News Goldman Sachs is further entering the emerging digital asset derivatives market. It is understood that Goldman Sachs has traded a bitcoin-related instrument called non-deliverable options with encrypted merchant bank Galaxy Digital, which means that the company has become the first major bank in the United States to conduct over-the-counter encrypted transactions.
Galaxy co-president Damien Vanderwilt said that as a top player in the global traditional asset market, Goldman Sachs participation shows that institutional investors such as hedge funds have increased maturity in this type of asset. Vanderwilt said in an interview: This transaction represents the first step for the bank to provide clients with direct, customizable exposure to the crypto market. (CNBC)
Moscow court rules Meta is an extremist group
On the 21st local time, the Vettel District Court in Moscow, Russia ruled that Meta was an extremist organization. The court also announced that the ban on (Facebook) Facebook and other social software owned by the company should start immediately.
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