Evening News | The central bank states that the domestic Bitcoin trading volume's global share has dropped to 10%; the U.S. SEC launches an illegal fundraising investigation into the NFT market and creators
Canaan Creative's total revenue in the fourth quarter of 2021 reached $340 million, a year-on-year increase of 5636%; the contract for airdropping World tokens using the Ukrainian government address is suspected to be a scam.Organizer: Vincent, Chain Catcher
"What are the truly important news today?"
According to Chain Catcher, the Central Bank Financial Stability Bureau published an article stating that the concentrated rectification of internet financial chaos has transitioned to normalized regulation. All P2P online lending platforms have exited operations, and the unpaid loan balance has decreased from an initial 1.2 trillion yuan to 490 billion yuan. This has effectively curbed the speculation in virtual currency trading within the country, with the proportion of Bitcoin trading volume in China rapidly declining from over 90% to 10%. All financial activities of internet platform companies will be brought under regulation, standardizing the cooperation between licensed institutions and internet platform companies, strengthening financial anti-monopoly and anti-unfair competition measures, and maintaining market order.
In the future, the financial sector will adhere to the principles of "stabilizing the overall situation, coordinating comprehensively, implementing differentiated policies, and precisely dismantling risks," firmly safeguarding against systemic financial risks and maintaining overall economic and social stability. (Source link)
2. The contract for airdropping World tokens using the Ukrainian government address is suspected to be a scam
According to Chain Catcher, Etherscan has marked the token airdrop contract using the Ukrainian government address as a "suspicious" contract. The page indicates that this token is misleadingly used to make people believe it is sent from a well-known address, which can easily lead to fraud or phishing.
Additionally, Etherscan shows that the transaction transferring World tokens from the Ukrainian government address to external addresses was not initiated by that address, but rather by an address starting with "0xe9af," which is suspected to be a scam.
Twitter user @razoreth explained, "What happened is that they allowed anyone to transfer tokens without approval." "All you need to do is send all tokens to one wallet and use their airdrop feature to send tokens from that wallet." (Source link)
3. Canaan Creative announces Q4 2021 financial report: Total revenue reaches $340 million, a year-on-year increase of 5636%
Mining machine manufacturer Canaan Creative officially released its Q4 2021 financial report, showing total revenue for the quarter was 2.1846 billion yuan (approximately $342.8 million), compared to 38.2 million yuan in the same period of 2020, representing a year-on-year increase of 5636%; net profit was 1.1965 billion yuan (approximately $187.8 million), while the net loss in the same period of 2020 was 72 million yuan.
For the entire year, Canaan sold a total computing power of 22.3 million Thash/s in 2021, a year-on-year increase of 238.5% compared to 6.6 million Thash/s in 2020. Total net revenue increased from 447.7 million yuan in 2020 to 4.9867 billion yuan (approximately $782.5 million), with a net profit of 2.0003 billion yuan (approximately $313.9 million). (Source link)
Coinlist announced on its official blog the 2022 Winter Batch seed projects, with a total of 7 projects selected from over 1000 startups, including the Web 3 native protocol signing and execution platform EthSign, decentralized social investment platform Mesha, Web3 development tool Exorde Labs, P2E chess game Immortal Game, digital payment project Paychant, tokenized reward protocol Smoothie, and smart contract hosting platform t3rn. (Source link)
5. South Korean cryptocurrency exchange GOPAX freezes about 20 Russian accounts
South Korean cryptocurrency exchange GOPAX announced on Wednesday that it has frozen about 20 accounts belonging to Russian users and blocked access to its platform from Russian IP addresses. GOPAX stated that its restrictions are in line with the sanctions imposed on Russia by the U.S. Office of Foreign Assets Control and the European Union.
Previously, reports indicated that the Ukrainian government called for a crackdown on all Russian cryptocurrency users and sent letters to 8 cryptocurrency exchanges requesting them to stop providing services to Russian users. Subsequently, synthetic asset platform PublicMint, gaming company Animoca Brands, NFT platform DMarket, and others stated they had frozen Russian user accounts, while Binance and Coinbase stated they would not freeze all Russian user accounts, and Kraken indicated it would not freeze Russian user accounts. (Source link)
6. Yellen: The U.S. Treasury will monitor cryptocurrency as a channel for Russia to evade sanctions
According to Chain Catcher, recently, four Senate Democrats in the U.S. sent a letter to the Treasury Department expressing concerns about Russia potentially using cryptocurrency to evade sanctions. U.S. Treasury Secretary Janet Yellen recently responded that the U.S. will closely monitor the situation, stating, "We will continue to study how sanctions work and assess whether there are leaks, and we may address these issues."
She noted that cryptocurrency is a channel worth monitoring for Russia's evasion of sanctions, stating, "This area is not completely circumventable." (Decrypt)
7. Cryptocurrency investment firm Arcanum Capital completes $12 million fundraising for its first fund, with participation from Polygon co-founder
According to Chain Catcher, cryptocurrency investment firm Arcanum Capital announced that its first venture capital fund, Arcanum Emerging Technologies Fund I ISA, has completed oversubscription, raising the amount from the initial $10 million to $12 million. It is reported that the main investors in the fund include Draper University Ventures, Polygon co-founder Sandeep Nailwal, and Swiss asset management company Tavis Digital.
The Arcanum Emerging Technologies Fund I ISA provides seed and Series A financing for blockchain technology companies in emerging markets, with a primary focus on the Indian market.
Other investors include Mirana Ventures (the investment arm of Bybit), Ragnar Digital Investments founder, SevenX Ventures, Quarkchain Foundation, Foresight Ventures, and Polygon Studios. (Source link)
8. Insiders: U.S. SEC launches illegal fundraising investigation into the NFT market and creators
According to Chain Catcher, Bloomberg cited insiders stating that the U.S. Securities and Exchange Commission (SEC) is investigating NFT creators and related platforms to determine whether these NFTs are being used to raise funds like traditional securities. It is reported that in recent months, lawyers from the SEC's enforcement division have issued subpoenas requesting information about token issuances from the aforementioned parties.
Insiders indicated that the SEC is looking into information related to fractionalized NFTs. Fractionalized NFTs can break down an NFT asset into multiple easily tradable units. (Bloomberg)
"What articles are the editors of Chain Catcher reading?"
Cobie & Ledger, hosts of the crypto video podcast UpOnly, recently interviewed Matt Huang and Fred Ehrsam, founders of the crypto venture capital firm Paradigm, discussing the future of crypto and various hot topics in the industry.
2. "CB Insights releases the 2022 Blockchain 50 list, with 31 companies valued over $1 billion"
In early March, globally renowned market research firm CB Insights released the 2022 Blockchain 50 list, ranking the 50 most promising blockchain and crypto companies worldwide. This year's winners include blockchain infrastructure providers, cryptocurrency exchanges, custody and wallet services, NFT markets, and more.
3. "Dragonfly Capital: How to measure the performance of a blockchain?"
Emerging public chains claim to have significantly higher performance than Ethereum. In this article, Dragonfly Capital conducted performance tests on multiple public chains, including Ethereum and Solana, pointing out that the performance difference between Ethereum and the best chains is about 10-25 times, rather than 100 times or 1000 times.
4. "Electric Capital's decade-long fund plan: Be a long-term investor"
Recently, crypto venture capital firm Electric Capital raised $1 billion for two new crypto funds, with $400 million allocated to equity and tokens, and $600 million solely for tokens and stablecoins. This article provides a detailed introduction to Electric Capital's investment strategy and outlines the background of its team.
