Blockchain Briefs

According to reports, Paxos disclosed on its official website that after announcing on February 13, 2023 that it would stop casting new BUSD tokens and terminate its relationship with Coin Security, the platform has processed over $7.9 billion in BUSD redemptions in the past 32 days, accounting for nearly 50% of the current BUSD, without causing any losses to customers or causing market chaos, and has managed all customer assets in accordance with the New York State Bank Law to avoid bankruptcy. Paxos stated that currently all BUSDs are hosted by NYDFS Trust and fully supported by USD cash and cash equivalents at a 1:1 ratio. Paxos will provide support for the circulation of BUSDs for at least one year, and all other Paxos products will not be affected by BUSD redemptions. Paxos: Process over $7.9 billion in BUSD redemptions within 32 days, and will provide support for at least another year Analysis based on this information:Paxos, a blockchain-based trust,…

According to reports, according to data from the encryption analysis platform IntoTheBlock, the Layer 1 Proof of Rights Protocol Algorand (ALGO) currently has more than 16.4 million addresses in a loss state, accounting for more than 98% of the total registered addresses on the Algorand chain, and its performance also lags behind peers such as Ethereum, Cardano, Solana, and Avalanche. （u.today） Data: More than 98% of Algorand’s addresses are in a loss state Analysis based on this information:According to reports, Algorand’s Layer 1 Proof of Rights (PoR) protocol is currently experiencing significant issues, serving as a major obstacle to the blockchain’s growth and adoption. Data from the encryption analysis platform IntoTheBlock shows that Algorand has more than 16.4 million addresses in a loss state, accounting for more than 98% of the total registered addresses on the Algorand chain. This alarming figure is almost twice that of Ethereum’s, a cryptocurrency that currently accounts for 60.7 million addresses. The layer 1 protocol…

It is reported that Uniswap has passed the vote on deploying Uniswap V3 on Avalanche, with a approval rate of 95.08%. This proposal takes into account that the commercial protection of the copyright of Uniswap V3 core code will expire on April 1, when many projects will have the legal right to copy Uniswap V3 and branch the code for commercial purposes. Therefore, Uniswap V3 has decided to deploy on Avalanche in advance before a large number of imitation products appear to ensure that Uniswap can seize the Avalanche DEX market and compete with the DEX Trader Joe on Avalanche. According to the plan, the contract deployment is expected to take 5 weeks to complete. The proposal to deploy Uniswap V3 on Avalanche has been voted and is expected to be deployed within 5 weeks Analysis based on this information:The recent message reveals that Uniswap V3 has passed a vote to deploy on Avalanche to protect its copyright from being…

On March 17th, digital asset market makers and venture capital firm DWF Labs reached an agreement with the Synthetix Finance Committee to provide liquidity and market maker services to SNX on centralized and decentralized trading platforms. DWF Labs is committed to becoming a member of the Synthetix agreement in a variety of ways, including integrating and trading Synthetix perpetual contracts, participating in SNX governance during the Epoch election, and participating in community and product exchanges. DWF Labs will provide liquidity and market maker services for SNX Analysis based on this information:DWF Labs, a venture capital firm and digital asset market maker, has reached an agreement with the Synthetix Finance Committee. The agreement aims to provide liquidity and market maker services to the Synthetix agreement on centralized and decentralized trading platforms. The agreement also includes integrating and trading Synthetix perpetual contracts, participating in governance during the Epoch election and participating in community and product exchanges. This announcement comes at a time…

12:00-21:00 Keywords: Arbitrum, V God, Belgium, SVB Overview of important developments in the evening of March 17th Analysis based on this information:Arbitrum’s innovative Layer 2 scaling solution has been gaining a lot of momentum lately with its recent expansion to Belgium. The expansion is the result of a partnership between the blockchain infrastructure provider and V God, a blockchain consultancy firm. The move is aimed at helping to meet the growing demand for decentralized applications (dApps) in the country. Arbitrum’s Layer 2 protocol helps to address some of the scalability issues faced by the Ethereum network, which is currently the most popular blockchain platform for building dApps. The protocol enables faster and cheaper transactions, making it easier for developers to build dApps that can scale to millions of users. The expansion to Belgium is a significant move for Arbitrum as it comes at a time when the country is experiencing a surge in its blockchain and crypto industry. The country’s…

According to reports, according to data disclosed by blockchain analysis company Glassnode, recently, the price of Bitcoin hovered between several popular and widely observed technical analysis pricing models. After hitting the resistance of the 200 week and 365 day moving averages (about 25.0k) in February, the price hit the 200 day and 111 day moving averages (about 19800) this week and then rebounded. This is the first cycle in history for BTC to trade below the 200 week average, From this perspective, the market is in a new area. In addition, Glassnode data shows that Tether was always at a premium of $1.01 to $1.03 during the collapse of banks in Silicon Valley, which means that Tether is seen as a safe haven amid concerns that the US banking industry is subject to strict regulation. Glassnode: The first time in Bitcoin history that a transaction cycle occurs below the 200 week moving average Analysis based on this information:The recent fluctuations…

According to reports, TripleC, the GameFi incubation and issuance platform, announced the completion of a new round of financing, but the specific financing amount has not yet been publicly disclosed. KuCoin Labs, a venture capital fund owned by KuCoin, participated in the investment. TripleC aims to incubate and publish Web 3 games, providing support to players through a one-stop platform that integrates games, wallets, NFT trading markets, and SBT, and rewarding players in the form of digital assets. It is reported that TripleC has signed cooperation agreements with world-renowned game development companies such as Century Games and Crystal Labs, and has also reached strategic cooperation with well-known cultural and entertainment companies such as Japan’s Tezuka Society and Tokyo Pictures. （coingape） GameFi incubation and issuance platform TripleC completes a new round of financing Analysis based on this information:TripleC, the GameFi incubation and issuance platform, has announced that it has completed a new round of financing, but the exact amount has not…

Johan Van Overtveldt, a member of the European Parliament and former Belgian finance minister, reportedly called for a ban on cryptocurrencies in the wake of banking turmoil in a tweet on Friday. Overveldt says there is another lesson to be learned from the current banking turmoil. A strict ban on cryptocurrencies is imposed, and these assets are merely speculative and have no economic or social value. If the government bans drugs, it should also ban cryptocurrencies, as the impact of the failure of the cryptocurrency friendly Silvergate and Silicon Valley banks has spread to the European market, including pushing the stock price of Credit Suisse to historical lows and forcing it to borrow $53 billion from the Swiss National Bank. Former Belgian Finance Minister: Cryptocurrency should be banned Analysis based on this information:The recent banking turmoil has caused Johan Van Overtveldt, a member of the European Parliament and former Belgian finance minister, to call for a ban on cryptocurrencies. In…

According to reports, the General Office of the Shanghai Municipal People’s Government recently issued the “Key Points for Shanghai to Comprehensively Deepen the” One Network One Office “Reform in 2023.”. According to the “Key Points for Work”, Shanghai will use blockchain technology to empower government services, promote cross chain sharing between the Shanghai government blockchain and national industry departments, and gradually establish a safe, reliable, and efficient “All in One” platform service system. Explore the application of blockchain in scenarios such as tax services, market regulation, livelihood services, and special financial fund support. (Jin Shi) Shanghai: Explore the application of blockchain in tax services, market supervision, and other scenarios Analysis based on this information:The Shanghai Municipal People’s Government recently released a report titled “Key Points for Shanghai to Comprehensively Deepen the ‘One Network One Office’ Reform in 2023”. This report outlines the government’s plan to use blockchain technology to empower government services, enable cross chain sharing between the Shanghai government…

On March 17th, according to Whale Alert data, 68000000 USDTs were transferred from Kraken to Bitfinex. 68 million USDTs transferred from Kraken to Bitfinex Analysis based on this information:On March 17th, 2021, the cryptocurrency community witnessed a massive transfer of 68 million USDT from Kraken to Bitfinex, according to the Whale Alert data. USDT is a stablecoin backed by the US dollar, which has a fixed value, unlike other cryptocurrencies such as Bitcoin and Ethereum. Whale Alert is a platform that tracks and reports large transactions in the cryptocurrency market, mainly on Twitter. Whale Alert alerts the market about the transfer of funds equal to or greater than $1 million. Also, it provides real-time information about the transfer of billions of dollars worth of cryptocurrencies. Kraken is a prominent cryptocurrency exchange founded in 2011, while Bitfinex is one of the world’s biggest bitcoin exchanges. With this transfer, Bitfinex has become the significant holder of USDT in the cryptocurrency market. The…

According to reports, according to bankruptcy court documents, the bankruptcy lending platform Genesis has requested creditors to explain how much the company owes them before the deadline of May 22, and has requested an auction to be held by the deadline of June 27. Bidders considering the acquisition of Genesis must indicate their interest by May 5th. Genesis requires creditors to submit the amount owed by May 22 Analysis based on this information:The Genesis lending platform has requested creditors to submit reports regarding how much the company owes them before the May 22nd deadline. With this, Genesis hopes to gain an accurate picture of its debts and liabilities before it proceeds with its bankruptcy proceedings. The deadline for potential bidders to show their interest in acquiring Genesis is May 5th. It is common for businesses, especially those that are struggling, to file for bankruptcy to reorganize or free themselves of debt. In the case of Genesis, the platform is requesting…

According to reports, Matrixport, a cryptocurrency service provider, said in a report on Thursday that Bitcoin (BTC) benefited from the instability of the financial system, falling inflation made the Federal Reserve less tough, and regulatory excess hit stable currencies. With the persistence of these three trends, the price of Bitcoin may remain high and continue to rise. Investors have now awakened that the Federal Reserve’s interest rate policy has seriously damaged some investment portfolios and threatened the financial stability of the economy. Report: Regulators and central banks have classified Bitcoin as a commodity rather than a security Analysis based on this information:Cryptocurrency service provider Matrixport recently released a report stating that Bitcoin’s price rise is attributed to three major factors: financial system instability, falling of inflation rates, and regulatory excesses impacting stable currencies. These trends are expected to persist and push the value of Bitcoin even higher. One of the key factors contributing to Bitcoin’s growth is the instability of…

According to reports, construction machinery manufacturer XCMG Group announced BAYC (Bored Ape Yacht Club) # 3489 as its ambassador for the universe at the CONEXPO-CON/AGG exhibition in Las Vegas, US, and announced its web3 exploration linkage plan. XCMG Announces BAYC # 3489 as Its Yuan Universe Ambassador Analysis based on this information:Construction machinery manufacturer, Bored Ape Yacht Club, ambassador for the universe, web3 exploration linkage plan, CONEXPO-CON/AGG exhibition Interpretation: Reports have surfaced that XCMG Group, a prominent construction machinery manufacturer, has recognized BAYC (Bored Ape Yacht Club) # 3489 as its latest “ambassador to the universe.” This unusual move took place during the CONEXPO-CON/AGG exhibition, which took place recently in Las Vegas, USA. The Bored Ape Yacht Club, for those unfamiliar with the phenomenon, is a blockchain-based NFT (non-fungible token) project that features pictures of anthropomorphic apes with different expressions, accessories, and rarity. After exploding in popularity, Bored Ape Yacht Club NFTs have now become increasingly exclusive and valuable, with…

On March 17th, DigiFT, the decentralized digital asset exchange, has issued its first perpetual bond support token (PBRT01). After the subscription period, DigiFT has officially started AMM trading of PBRT01 on March 16th. PERT01 is issued by Red Cedar Digital Pte Ltd (a subsidiary of Digital FT), and the underlying assets are 8% perpetual bonds of Barclays Bank, which are held in trust by Citibank. PBRT01 can support qualified investors to subscribe using US dollars or USDC, and Web3 investors can invest in fixed income products without requiring a bank account. Investors can exchange assets on the chain through AMM, OTC, and P2P trading methods or redeem assets off the chain through issuers. DigiFT issues perpetual bonds to support tokens and supports the use of USDC and US dollars to subscribe for real world assets Analysis based on this information:DigiFT, a decentralized digital asset exchange, has recently introduced its first perpetual bond support token (PBRT01) on March 17th. This announcement…

According to reports, Bitcoin software company Lightning Labs and blockchain startup Tari Labs have agreed to convert a court ordered temporary restraining order that requires the suspension of the development of Lightning’s Taro protocol. In a document dated March 15th, lawyers from both companies proposed converting a restraining order into a preliminary injunction, a temporary order that prevents a party from taking certain actions. The conversion of this order into a preliminary injunction will stop the development of the agreement until a court decision is reached. Lightning Labs and Tari Labs agree to change the temporary restraining order in the trademark lawsuit to a preliminary injunction Analysis based on this information:Bitcoin software company Lightning Labs and blockchain startup Tari Labs have agreed to convert a court-ordered temporary restraining order into a preliminary injunction. The restraining order mandates the suspension of the development of Lightning’s Taro protocol. A preliminary injunction is a temporary order that restrains a party from taking certain…

According to reports, according to the latest data from Arbitscan, on March 16th, Arbitrum announced that it would airdrop ARB governance tokens to community members. The number of daily transfers on the chain on that day reached 1079668, setting the third highest daily transfer transaction volume record on the chain so far. Currently, the highest daily transfer transaction volume on the chain of Arbitrum occurred on February 21, 2023, with 1103398 transactions on the chain on that day, and the second highest record occurred on February 22, 2023, The number of on-chain transactions on that day was 1093187. Data: On March 16th, the number of daily transfers on the Arbitrum network exceeded 1 million, setting the third highest record to date Analysis based on this information:Reports indicate that Arbitrum recently announced an airdrop of ARB governance tokens to community members, which led to a surge in daily transfer transaction volume on March 16th. With over 1 million daily transfers on…

According to reports from the Web3 network security company Ancilia, the root cause of the attack on the NFT lending protocol ParaSpace occurred in the scaledBalanceOf() function of the contract 0xddde38696fbe5d11497d72d8801f651642d62353, which is used to calculate the user’s collateral through the supply() function. However, manipulating the number of APE tokens in the function getPooledApeByShares() allows scaledBalanceOf() to return a large value. Users can own a large amount of collateral and use it to borrow more assets. Ancilia: The root cause of the ParaSpace attack occurred in the scaledBalanceOf() function of the 0xddde3 contract Analysis based on this information:Web3 network security firm Ancilia has reported that the root cause of the attack on the NFT lending protocol ParaSpace occurred in the scaledBalanceOf() function of the contract 0xddde38696fbe5d11497d72d8801f651642d62353 which is used to calculate users’ collateral through the supply() function. The attacker manipulated the number of APE tokens in the function getPooledApeByShares() allowing scaledBalanceOf() to return a large value. As a result, users…

According to the official announcement of Huobi, Huobi will launch ARB online for the first time and fully support the ecological development of Arbitrum. It will open its coin charging business at 20:00 today (GMT+8). The announcement shows that the opening hours of its currency trading and withdrawal business are to be determined, subject to the official announcement. Fire will launch ARB online for the first time and will open its coin charging business at 20:00 today Analysis based on this information:Huobi, one of the world’s leading cryptocurrency exchanges, has recently announced that it will launch ARB online for the first time and support the development of the Arbitrum ecosystem. The announcement details that Huobi will open its coin charging business at 20:00 (GMT+8) today, which is expected to increase the accessibility and liquidity of the token on the cryptocurrency market. The introduction of ARB online by Huobi, which is one of the largest cryptocurrency exchanges in the world, is…

On March 17th, it was confirmed that employees of Bithumb, another cryptocurrency exchange in South Korea, after Coinone, were also being investigated by prosecutors for allegedly collecting money to list cryptocurrencies. The Financial Investigation Department 2 of the Southern Seoul District Attorney’s Office conducted an arrest and search on the Bithumb Holdings office and the suspect Lee. Bithumb employees are investigated by South Korean prosecutors for allegedly accepting bribes when the company launched cryptocurrency Analysis based on this information:In recent years, cryptocurrency has seen a surge in popularity across the globe, and South Korea has been no exception. However, with this popularity comes a rise in misdeeds, with allegations of bribery emerging against employees of cryptocurrency exchanges Bithumb and Coinone. On March 17th, it was confirmed that Bithumb was being investigated by prosecutors for allegedly collecting money to list cryptocurrencies. The investigation follows a similar case uncovered in February 2021, where employees at Coinone were alleged to have taken bribes…

It is reported that the electronic music brand Beatport has announced through social media that it has launched the NFT market “Beatport · io” on the Poka network, allowing artists, producers, and record companies to sell NFT, including exclusive content such as unreleased music, discounted concert tickets, and other fan benefits. It is reported that Beatport and Poka will jointly hold 10 events and launch a new NFT collection in the next 18 months. Electronic music brand Beatport launched NFT market “Beatport · io” on Poca Network Analysis based on this information:Beatport, a leading electronic music brand, has recently announced the launch of its NFT marketplace, Beatport · io, on the Poka network. The marketplace allows artists, producers, and record companies to sell NFTs, including unreleased music and other fan benefits. This move by Beatport highlights the growing influence of NFTs in the music industry and their potential for creating new revenue streams for artists. NFTs, or non-fungible tokens, are…