Evening News | Goldman Sachs will launch cryptocurrency services for high-net-worth clients in Q2; Binance appoints former Microsoft corporate vice president as chief technology officer

Organizer: Linqi, Chain Catcher

"What important events have occurred in the past 24 hours?"

1. Binance appoints former Microsoft corporate vice president Rohit Wad as CTO and former Agoda product vice president Mayur Kamat as product director

Binance announced the appointment of former Microsoft corporate vice president Rohit Wad as chief technology officer and former Agoda product vice president Mayur Kamat as product director. Wad and Kamat will work together to make Web3 technology accessible and usable for the general public and to drive innovation within the Binance ecosystem.

Wad will be responsible for developing scalable, compliant, and high-speed Web3 services and solutions, as well as creating sustainable security, stability, and liquidity for the trading platform, ensuring compliance with the evolving regulatory requirements in various regions after widespread adoption. Kamat will be fully responsible for Binance's product strategy, roadmap, and development. He will lead the team to develop products that can drive the widespread adoption of crypto assets and lower the barriers to using Web3 technology. (Source link)

2. Goldman Sachs to launch cryptocurrency services for high-net-worth clients in Q2 this year

According to Mary Rich, the new global head of digital assets at Goldman Sachs' private wealth management division, Goldman Sachs plans to offer its first investment tools for Bitcoin (BTC) and other cryptocurrencies to its clients starting in the second quarter of 2022.

In an interview with CNBC on March 31, Mary Rich stated, "Goldman Sachs' ultimate goal is to introduce comprehensive support for digital assets, whether through Bitcoin, derivatives, or traditional investment tools."

It is reported that this division primarily serves individuals, families, and endowment funds with at least $25 million available for investment. (Source link)

3. People's Bank of China: New pilot cities for digital yuan include Tianjin, Chongqing, Guangzhou, Fuzhou, and Xiamen

The People's Bank of China held a seminar today on the research and development pilot work of the digital yuan, summarizing the previous pilot work and arranging the next phase of work. The meeting pointed out that as the pilot testing deepens, the research and development of the digital yuan faces new situations and problems in demonstrating convenience, optimizing inclusiveness, highlighting innovation, ensuring security, reflecting compliance, and enhancing sustainability, which require further in-depth research and exploration.

The meeting emphasized that the pilot research and development of the digital yuan should embody "people-oriented" principles, playing a greater role in expanding the coverage of financial services, improving the level of inclusive financial services, supporting local economic development, assisting in the construction of digital government services, enhancing the quality and efficiency of financial services for the real economy, and improving the business environment.

The meeting required an orderly expansion of the pilot scope, adding Tianjin, Chongqing, Guangzhou in Guangdong Province, Fuzhou and Xiamen in Fujian Province, and six cities hosting the Asian Games in Zhejiang Province as pilot areas. Beijing and Zhangjiakou in Hebei Province will become pilot areas after the pilot ends in the scenarios of the 2022 Beijing Winter Olympics and Paralympics. (Source link)

4. Cross-chain bridge Wormhole plans to raise $187 million through token private placement

The cross-chain bridge Wormhole plans to sell 750 million HOLE tokens (accounting for 7.5% of the total supply) to institutional investors at a price of $0.25 per token, with the tokens locked for one year and released linearly over three years. This token sale is expected to generate $187.5 million in revenue, with the project valued at $2.5 billion. Sources confirmed that Wormhole is attempting to conduct the token sale at this valuation, and Wormhole declined to comment. (The Block)

5. Gaming NFT marketplace Fractal completes $35 million seed funding, led by Multicoin Capital and Paradigm

Fractal, a gaming NFT marketplace founded by Twitch co-founder Justin Kan, has completed $35 million in seed funding, led by Multicoin Capital and Paradigm, with participation from a16z, Solana Labs, Animoca, and Coinbase.

Fractal is a Solana-based marketplace for gamers to buy and sell in-game assets or NFTs. (Source link)

6. Citi: The metaverse economy could reach $8 to $13 trillion by 2030, with various forms of cryptocurrency dominating

According to CoinDesk, Citi stated in a report on Thursday that the metaverse economy could be between $8 trillion and $13 trillion by 2030, with up to 5 billion users, but achieving this market level will require significant infrastructure investment. Currently, the most mainstream way to experience the metaverse is through playing video games in VR, but it is possible that the metaverse is evolving towards becoming the next generation of the internet or Web 3.

The forms of currency in the metaverse are expected to differ from those in the real world, with various forms of cryptocurrency anticipated to dominate, alongside fiat currency, central bank digital currencies (CBDCs), and stablecoins. (Source link)

"What articles are the editors of Chain Catcher reading?"

1. "The Future of Seamless Cross-Chain: A Detailed Explanation of LayerZero and Stargate"

Public offerings were snatched up by Alameda under SBF, backed by 0xMaki, and after launch, the token price surged over 10 times. Recently, it has also achieved a valuation of $135 million. LayerZero Labs is undoubtedly one of the hottest Web3 teams recently. The enormous potential of inter-chain communication, combined with already launched cross-chain products, makes this project stand out. This article conducts a deeper investigation into these two projects, attempting to analyze their core mechanisms, future prospects, operational capabilities, and project valuations.

2. "Exclusive Interview with He Yi: Binance's Core Strategy This Year is to Promote Compliance Globally"

After maintaining a low profile for a long time, Binance co-founder He Yi has once again spoken out publicly, introducing Binance's compliance strategy and early experiences. He Yi believes that no trading platform in the crypto industry does better than Binance in anti-money laundering, KYC, security, and other aspects.

3. "Did you know? Those sneaker traders have now turned to trading digital collectibles"

Under the layout of major domestic companies like Tencent and Baidu, the concept of digital collectibles has rapidly risen, and the performance of related concepts in the A-share secondary market has been astonishing. Meanwhile, in another non-public trading market, a more exaggerated wealth effect is unfolding. NFTs and digital collectibles, two terms that seem interchangeable, actually have completely separate markets and players.