headlines
US SEC Chairman: Securities Law Applicable to Regulate Encrypted Assets, SEC Has the Right to Supervise
Odaily News US Securities and Exchange Commission Chairman Gary Gensler reiterated his view that most cryptocurrencies are securities in an interview with Yahoo Finance, and said that he has informed trading platforms and other intermediaries to register. He personally believes that the securities law is applicable to regulate encrypted assets, and the SEC has sufficient power to regulate the encrypted market.
When asked about FTX-related issues, Gensler said that it is currently impossible to answer specific cases, but US law clearly prohibits trading platforms from misappropriating user assets.
Binance’s Proof of BTC Reserves Passes Mazars Audit with 101% Guarantee Rate
Odaily News The report on the proof of BTC reserves on the Binance platform audited by Mazars, a global financial audit, tax and consulting company, has been released. According to the audit results of Mazars, as of November 22, 2022 (BTC block height 764327), the balance of BTC of users on the Binance platform is 575742.4228 pieces, and the guarantee rate is 101%.
Earlier news said that Binance had appointed accounting giant Mazars to verify its token reserves. It is reported that Mazars is a global accounting firm headquartered in Paris, France, and its US branch, Mazars USA LLP, once worked for the company of former US President Trump.
Industry news
Financial Times: FTX once negotiated a $100 million endorsement sponsorship agreement with the Taylor Swift team
Japan may restrict algorithmic stablecoins
Odaily News A document released by Japans Financial Services Agency shows that the countrys regulators may restrict algorithmic stablecoins.
In November, Tomoko Amaya, Deputy Minister of International Affairs of the Japan Financial Services Agency, gave a speech at a roundtable held by OMFIF, which was made public today. Amaya pointed out in his speech, The proposed assessment considers that stablecoins must not use algorithms to stabilize their value and strengthen the protection of redemption rights. This may hint at the next step in the direction of supervision of stablecoins.
The content of Hoo website has been cleared, and only an announcement is displayed
Alameda has more than 470 investments totaling approximately $5.3 billion
US Senator Asks Lawmakers to Respond to Silvergate-FTX Relationship by Dec. 19
Odaily News U.S. Senators Elizabeth Warren, John Kennedy and Roger Marshall asked the encrypted bank Silvergate to provide information about its relationship with FTX and SBF in a letter on Monday night.
Silvergate’s involvement in the transfer of FTX client funds to Alameda appears to have grossly lapses in Silvergate’s duty to monitor and report suspicious financial activity by its clients, the letter said, and Silvergate has until Dec. 19 to respond to lawmakers. According to the bankruptcy filing, related entities of the FTX and SBF cryptocurrency empires hold approximately 20 different accounts with Silvergate.
Project News
HAY issuer Helio: Currently, about 3 million HAY have been repurchased
Polygon: One-Third of Tokens Sold in $450M Funding Vested and Allocated, Investors Include Alameda Research and More
Odaily News Polygon stated that in the financing of 450 million US dollars completed through token sales in 2021, the first batch of vesting and distribution was completed two weeks ago.
According to the previous financing details, the vesting and distribution of the first one-third of the three-year unlocking period of this financing will start in late November 2022.
Ankr: Funds will be transferred from the $15 million recovery fund to purchase additional HAY and compensate related damaged users
Odaily News The Ankr team stated that it will be responsible for the users and partners affected by the attack, and the team is working 24 hours a day to process and negotiate all compensation matters.
Helio will be solely responsible for approximately $15 million in bad debts due to the attack on aBNBc. Ankr will mobilize funds from the $15 million recovery fund to purchase additional HAY issued in the market, and work with Helio to deal with the bad debts caused by the attack. Following this incident, Ankr will work closely with Helio to help rebuild the ecosystem
Optimism announces distribution of 10 million OP in RetroPGF 2 to fund projects and developers
Odaily News According to official news, Optimism, the second-layer expansion plan of Ethereum, announced its second round of retroactive public product fundraising (RetroPGF 2). RetroPGF 2 will distribute 10 million OP in January 2023 to support OP Stack development and public goods used. Optimism will also bring in a first-generation Citizens House to manage the distribution of funds.
Anyone can nominate projects or individuals for funding on the Optimism Governance Forum between January 3-17, 2023. In order to be eligible for funding, nominated projects or individuals must complete a project brief in the Gitcoin Grants Hub between January 3-24. RetroPGF 2 badge holders will vote on how funds are allocated for the project. Voting will take place from January 31 to February 10.
Voting badges for RetroPGF 2 will be distributed to 90 community members: each RetroPGF 1 holder will receive one RetroPGF 2 badge, ten badge holders will be selected by Optimism’s Token House, and finally, the Optimism Foundation will contribute Community members distribute 21 badges.
Hooked released an airdrop announcement, NFT holders can get up to 100 HOOK token airdrops
Odaily News Hooked Protocol released an airdrop announcement, which will reward early supporters of the Hooked platform. A total of 6 rounds of HOOK airdrops will be conducted for existing Hooked Party Pass NFT holders. Existing Hooked Party Pass NFT holders can participate in all 6 batches Airdrops, and Hooked Party Pass Season 2 NFT holders are eligible to participate in the next 5 batches of airdrops. In addition, each holder can get up to 100 HOOK tokens.
CZ: 90% of Binance’s revenue comes from transaction fees, and all ads on CoinMarketCap have now been removed
