PA Daily | Bitcoin breaks through $29,000; Wisdomtree and Invesco submit spot Bitcoin ETF applications

Today’s news tip:

1. The Monetary Authority of Singapore proposes digital currency standards and specifies the conditions for digital currency use in a general agreement

2. Asset management giant Invesco Invesco submits another spot bitcoin ETF application

3. Astaria: Suspended due to serious problems found, confirmed that no funds are lost

4. Dalian issued a three-year action plan for the innovation and development of the Industrial Metaverse

5. The former CEO of GitHub and the former partner of YC raised more than 1 billion US dollars in funds and will invest in the field of AI

6. Huobi responded to the trademark lawsuit: it has not received the acceptance notice from the court, and the registered place of Huobi Global Limited is not Hong Kong

7. Singapore encryption payment provider dtcpay completes $16.5 million in financing

8. Data: There are more than 420 million cryptocurrency users in the world, of which 260 million are in Asia

Regulatory News

The Monetary Authority of Singapore proposes a digital currency standard to specify the conditions for the use of digital currency in a general agreement

According to the official website, the Monetary Authority of Singapore has proposed digital currency standards. It released a white paper today, proposing a general agreement to specify the conditions for the use of digital currencies, such as central bank digital currency (CBDC), tokenized bank deposits, and distribution-based A stablecoin based on a ledger.

The white paper is backed by a software prototype of the Purpose Bound Money (PBM) concept, which enables senders to specify conditions, such as expiration dates and store types, when making digital money transfers between different systems. The white paper was developed in collaboration with the International Monetary Fund, Bank of Italy, Bank of Korea, financial institutions and fintech companies.

Sopnendu Mohanty, Chief Fintech Officer, MAS, said: "This collaboration between industry players and policymakers helps to achieve important progress in settlement efficiency, merchant acquisition and user experience of using digital currencies. More importantly, it Strengthening the prospect of digital currencies becoming a key component of the future of finance and payments.”

Foreign media: Several European countries are cooperating with the US SEC to investigate Binance information

Police and financial regulators in several European countries are working with the U.S. Securities and Exchange Commission (SEC) to find out more about Binance, people familiar with the matter said, Protos reported.

The SEC has been seeking information on Binance’s activities from several European countries for some time, some of which have taken action after Binance was sued by the SEC earlier this month and accused of mixing funds, the report said. Other European authorities are still assessing the complexities of the Binance case and have yet to comply with the SEC’s information request.

NFT

Astaria: Suspended due to serious issues found, no funds confirmed missing

NFT lending platform Astaria said on Twitter: "At 12:42 on June 20, Beijing time, Astaria realized that there was a problem with the basic implementation of BeaconProxy. Functional. All funds and NFTs are safe, no action required at this time, Astaria has been put on hold and cannot originate new loans. The hold is to protect all assets in the protocol and we can confirm that no funds are lost. Just now Astaria Successfully executed a white hat recovery script, saving all ERC20 and ERC721 assets of all LPs and borrowers. Astaria has been in public beta since May 25. The recovery script uses updated contract implementation and recovery code, transferring all funds and NFT withdrawal to Astaria multisig address. We are drafting a plan for next steps and will follow up as soon as possible.”

Founder of DefiLlama: Disclosed its serious vulnerability to the NFT market Foundation a few months ago, and it has not been fixed yet

0xngmi, the founder of DefiLlama, tweeted: "The NFT market Foundation’s NFT contract has a loophole that allows the Foundation team to destroy almost all NFTs minted on its platform. The Foundation’s collection contract uses the forwarding proxy model to save deployed Gas. Means that all collections call a single contract to use its code is not a problem, but in the case of Foundation this contract can self-destruct. This is because Foundation’s collections have a feature that allows creators to destroy without NFT It. Thus, the combination of these two features allows the Foundation’s team to effectively delete all collections created on their platform. Ownership of the contract is currently held by 2 out of 6 multisigs. The good news is that it can Remove this backdoor by minting 1 NFT in the implementation contract, then transfer it to the destroy address. The bad news is that I disclosed this issue to the Foundation 6 months ago to get it fixed, and it hasn’t been fixed yet. This Dangerous, if the private key is leaked, the attacker could hold all the NFTs for ransom or simply destroy them.

metaverse

Dalian City Releases Three-Year Action Plan for Innovation and Development of Industrial Metaverse

According to the Liaoning Daily, recently, Dalian City formulated and issued the “Three-Year Action Plan for the Innovation and Development of the Dalian Industrial Metaverse (2023-2025)”, striving to achieve the initial formation of the industrial ecology of the Industrial Metaverse and the initial scale of industrial innovation clusters by 2025. , the vitality of technological innovation has been continuously improved, and the number of enterprises has grown steadily.

According to the “Plan”, Dalian City will take the promotion of new industrialization as the main line, focus on making bigger and stronger, integrate applications and industrial ecology, consolidate the infrastructure of the industrial metaverse, improve the industrial support system, and comprehensively build new advantages in industrial innovation and development. Realize A new leap forward in the development of the Industrial Metaverse. Focusing on key goals such as technical reserves, application cultivation and ecological construction of the industrial metaverse, more than 30 typical application scenario projects will be built, more than 30 key enterprises in the field of industrial metaverse will be cultivated, and more than 30 empowerment fields related to the metaverse will be built innovation hub.

The former CEO of GitHub and the former partner of YC raised more than 1 billion US dollars in funds and will invest in the field of AI

According to the Science and Technology Board Daily, Nat Friedman, former CEO of GitHub, and Daniel Gross, former partner of Y Combinator, recently announced a novel strategy to attract founders of AI companies as investors in start-up companies: provide them with a large number of free servers, these The servers are equipped with state-of-the-art chips for training machine learning models. Separately, the duo raised an investment fund of more than $1 billion to invest in AI startups.

Security company: Over 100,000 ChatGPT user information was sold by hackers

According to IT Home, according to the report of the international network security company Group-IB, the personal information of more than 100,000 ChatGPT users has been leaked, and some hackers are selling it on the dark web trading platform. Group-IB conducted an in-depth investigation of the dark web data, and counted the ChatGPT user information discovered on the dark web between June 2022 and May this year, and found that it reached a peak in May this year, with 26,802 pieces of ChatGPT user information sold.

The Asia-Pacific region has the most information identified in the report. Divided by region, there are 40,999 entries in the Asia-Pacific region; 24,925 entries in the Middle East and Africa region; and 16,951 entries in Europe. Break down by country Most of the data comes from India (12632 records), Pakistan (9217 records) and Brazil (6531 records), data from chatbot users in Vietnam, Egypt, USA, France, Morocco, Indonesia and Bangladesh Also appeared on the dark web. The analysis also revealed that the majority of records (78,348 records) were stolen using the Raccon malware, followed by Windows spyware and the stealth tool Vidar.

Project News

Musk follows Vitalik Buterin’s account on Twitter

According to Big Tech monitoring, Elon Musk (Elon Musk) added attention to the account of Ethereum co-founder Vitalik Buterin on Twitter this morning.

Ava Labs launched the AI chatbot AvaGPT and integrated it into the Core platform

According to Decrypt, Avalanche development company Ava Labs announced the launch of the artificial intelligence chatbot AvaGPT, which is the latest development of OpenAI’s ChatGPT technology deployed in blockchain companies. AvaGPT was created in cooperation with ChatGPT service provider Kapa AI and integrated into the Ava Labs Core platform.

Kieran McShan, technical product manager at Ava Labs, said that AvaGPT can quickly answer general questions of Avalanche users while still giving them access to its support team. This is to help answer questions faster and get original material immediately; And only train on Avalanche documentation.

Asset management giant Invesco Invesco submits another spot bitcoin ETF application

According to a tweet by Bloomberg senior ETF analyst Eric Balchunas, in addition to Wisdomtree, asset management giant Invesco (Invesco) has also resubmitted the 19b-4 file for the spot Bitcoin ETF.

Earlier today, it was reported that asset management company Wisdomtree had submitted an application for a spot bitcoin ETF.

Bifrost initiated a proposal to lend 50,000 KSM to the Kusama treasury again

According to Polkaworld reports, after successfully lending 50,000 KSM to the Kusama vault for liquidity loans last year, the multi-chain middleware platform Bifrost once again initiated a proposal to lend 50,000 KSM (with interest repayment) to the Kusama vault as KSM and vKSM base liquidity.

The report pointed out that Bifrost’s proposal is the only proposal that applies for liquidity from the Kusama treasury and helps the Kusama treasury to achieve profitability. Funded by the liquidity of the Kusama treasury, Bifrost has encouraged vKSM and vDOT single currency mining for more than a year in the past year, attracting users to use Bifrost, and deploying vKSM on other parachains and protocols. KSM pledged through Bifrost increased from 70,108.1841 KSM to 347,823.6972 KSM, a growth rate of 396.12%. Bifrost will repay the loan and interest in the first proposal on July 20, 2023.

The automatic proof of TrueUSD has been suspended due to the balance problem automatically triggering the ripcord function

Automated proofs for TrueUSD are currently suspended due to balance issues, Protos reported. The system, provided by Archblock for TrueUSD, includes a “ripcord” feature that notifies users if there are issues that may affect the ability to generate proofs. Currently, the balance ripcord is active, which according to Archblocks means: “During the last reporting interval, the LedgerLens real-time reserve system received an error response resulting in a total liability that is greater than the sum of the underlying assets.”

Usually in the historical operation of the system, the balance ripcord is triggered by a temporary imbalance in normal operation, but the balance ripcord may also be triggered by the actual imbalance of liabilities and corresponding assets. This situation begins with inquiries to management by the certification provider. In all cases, the balance ripcord expires after 72 hours; if there is still an imbalance after 72 hours, and no other ripcords are triggered, the system will generate a new proof report showing the point-in-time balance obtained by the system.

Prior to the news on June 10, TUSD has temporarily stopped minting TUSD through Prime Trust.

Huobi responds to the trademark lawsuit: no notice of acceptance from the court has been received, and Huobi Global Limited is not registered in Hong Kong

Huobi issued a response to “X-Spot controlled by Li Lin sued Huobi Global for trademark infringement”, saying: 1. Huobi Global Limited has the right to use trademarks in many legal jurisdictions around the world, so it has the right to use them freely. 2. Huobi Global Limited is not registered in Hong Kong. The right to use trademarks in Hong Kong depends on the laws and regulations of Hong Kong. 3. At present, we have not officially received any notice of acceptance from any court, and we have not got a detailed understanding of the lawsuit. We will actively communicate.

Earlier today, according to Wu, X-Spot Co., Ltd., controlled by Li Lin, sued Huobi Global Limited for trademark infringement in the High Court of the Hong Kong Special Administrative Region today. Huobi started to re-use the “Huobi” trademark earlier after Sun Yuchen blocked Li Lin’s brother’s account and accused him of dumping HT.

Binance Launches Regulated Digital Asset Platform in Kazakhstan

Binance has announced the launch of a regulated local digital asset platform in Kazakhstan. The new platform will provide users in Kazakhstan with exchange and conversion services, fiat currency deposits and withdrawals, and crypto asset custody services. The suite of services and number of assets available for trading will expand in the future.

Tether will issue native USDT on the Kava blockchain

Tether announced that it will issue native USDT on the Kava blockchain. Founded in 2018, the Kava network is unique in that it is built with a common chain design, combining the flexibility of the Ethereum Virtual Machine with the speed, low transaction fees and interoperability of the Cosmos software development kit. This unique architecture allows Users utilize the “zone” feature of Cosmos in the Kava protocol.

Polygon proposes to upgrade Polygon PoS to zkEVM Validium

Ethereum scaling solution Polygon released a proposal proposing to upgrade Polygon PoS to zkEVM Validium to make its main chain compatible with zero-knowledge (ZK) technology. If the proposal is approved, the upgrade could be live on mainnet by the end of the first quarter of 2024. Polygon co-founder Mihailo Bjelic said the upgrade will bring greater security, faster transaction confirmation and expand the blockchain.

Gemini Announces Asia-Pacific Expansion Plan, Increases Headcount in Singapore to More Than 100

Cryptocurrency exchange Gemini has announced plans to expand in the Asia-Pacific region (APAC), a region it sees as driving the “next wave of growth in cryptocurrencies.” Gemini will increase its workforce in Singapore to more than 100 over the next 12 months, making Singapore the center of its Asia Pacific operations, while also opening an engineering base in India.

Finance News

DeFi Protocol Maverick Completes $9M Funding Led by Peter Thiel’s Founders Fund

Decentralized finance (DeFi) infrastructure provider Maverick Protocol has raised $9 million in a strategic round of funding. The round was led by Peter Thiel’s Founders Fund, with participation from Pantera Capital, Binance Labs, Coinbase Ventures and Apollo Crypto. Maverick plans to use its new funds to build a more efficient liquid collateralized token infrastructure and address cross-chain liquidity efficiency issues to further expand its ecosystem. Maverick has also launched a liquidity incentive tool ‘Boosted Positions (BP)’.

Singaporean encrypted payment provider dtcpay completes $16.5 million in financing

According to Business Times, Singaporean encrypted payment provider dtcpay (formerly Digital Treasures Center) completed a US$16.5 million Pre-series A round of financing, led by Kwee Liong Tek, Chairman of Pontiac Land Singapore, and Carlyle Group David Tung, former managing director and partner of (Carlyle Group), Jean-Marc Poullet, chairman of Burgess Asia, and Tham Sai Choy, former chairman of KPMG Singapore and Asia Pacific, participated in the investment. The new funds will be used for product development, strengthening its operational and infrastructure capabilities, and expanding its global reach.

It is reported that dtcpay was established in 2019 and provides services such as account issuance, domestic transfer, cross-border transfer, merchant acquiring, electronic currency issuance and digital payment tokens. It provides payment processing for users transacting across fiat and digital currencies.

Digital asset platform EDX Markets completed a new round of financing, DV Crypto and GSR Markets participated in the investment

EDX Markets, a digital asset trading platform supported by Citadel Securities, Fidelity Investments and Charles Schwab, officially announced the launch of trading services and completed a new round of financing. Investors include Miami International Holdings, DV Crypto, GTS, GSR Markets LTD and HRT Technology. The firms join a coalition of founding investors including Charles Schwab, Citadel Securities, Fidelity Digital Assets SM, Paradigm, Sequoia Capital and Virtu Financial. The new funds will support EDX to continue to develop its trading platform and strengthen its market leadership. EDX will launch EDX Clearing later this year to clear trades matched on EDX Markets.

Stablecoin Protocol Reserve Invests $20M in Convex, Curve, and Stake DAO

Stablecoin protocol Reserve will invest $20 million in the governance tokens of Curve (CRV), Convex (CVX) and Stake DAO (SDT), Cointelegraph reported. The investment aims to increase the liquidity of RTokens, Reserve’s stablecoin. It will also increase Reserve’s voting power in the governance systems of these applications. The Reserve team said the investment could lead to new features, such as mortgage and wallet products.

Smart contract infrastructure company Neutron completes $10 million financing, led by Binance Labs and CoinFund

According to CoinDesk, Neutron, a smart contract infrastructure company, completed $10 million in financing, led by Binance Labs and CoinFund, with participation from Delphi Ventures, LongHash Ventures, Semantic Ventures, and Nomad Capital. Proceeds will help advance the development of Neutron’s blockchain software and facilitate the growth of its ecosystem.

Neutron, which launched its mainnet in May, is a cross-chain smart contract platform that uses Replicated Security (RS), the interchain security feature of the Cosmos ecosystem. Neutron is interoperable across 51 blockchains within the Cosmos network, which are connected via Inter-Blockchain Communication (IBC).

Important data

Data: Grayscale GBTC daily trading volume soars 400% since BlackRock applied for Bitcoin ETF

According to The Block, since BlackRock applied for a spot Bitcoin ETF, the daily trading volume of the Grayscale Bitcoin Investment Trust (GBTC) has risen from $16.1 million (June 14) to $80 million, an increase of about 4 million %.

Analyst Rebecca Stevens said: "Greyscale’s proposal to convert GBTC into a spot Bitcoin ETF was rejected last year. Although Grayscale has been opposing this decision, there has been no final ruling. BlackRock may successfully launch spot Bitcoin. ETF optimism will pave a clearer path for GBTC.”

Market: Bitcoin broke through $29,000 for a short time, with a 24-hour increase of nearly 7%

The market shows that Bitcoin broke through $29,000 for a short time and is now at $28,860.78, a 24-hour increase of 6.88%.

Data: ParaFi Capital redeemed 10,000 MKR and transferred it to Coinbase, with a contract of $764

According to the monitoring of Ember, an analyst on the chain, more than half an hour ago, ParaFi Capital redeemed the last 10,000 MKR (about 764 US dollars) of the address and transferred them to Coinbase.

Data: There are more than 420 million cryptocurrency users in the world, of which 260 million are in Asia

According to Triple A data, as of 2023, it is estimated that the average global cryptocurrency ownership rate is 4.2%. There are more than 420 million cryptocurrency users worldwide, most of which are in Asia (260 million), followed by North America (54 million), Africa (38 million) million) and South America (33 million).

Court Examiner Says FTX Bankruptcy Charges Top $200M

The liquidation of cryptocurrency exchange FTX would be “very expensive by any standards,” court examiners said in a filing Tuesday, with professional fees already exceeding $200 million.

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