Evening News | Total market value of crypto assets falls below $1 trillion; Web3 venture capital firm IOBC Capital establishes a $50 million venture capital fund
Rari Capital co-founder Jai Bhavnani announced his exit from the project; the entire Antminer S9 series, S11, and several other mining machines are nearing shutdown due to coin prices.Organizer: Linqi, Chain Catcher
"What important events have occurred in the past 24 hours?"
1. Web3 venture capital firm IOBC Capital establishes a $50 million venture capital fund, focusing on infrastructure, middleware, and other sectors
Web3 venture capital firm IOBC Capital has officially announced the establishment of its first phase venture capital fund, totaling $50 million. Alva Xu, founding managing partner of IOBC Capital, stated that the fund will focus on opportunities in the Web3 infrastructure layer, component layer, and middleware layer.
It is reported that IOBC Capital was founded in 2021 and focuses on investments in the Web3 infrastructure sector, with teams located in the United States, Singapore, and other places. Recently, it participated in the $70 million Series B financing of DeFi trading acceleration tool bloXroute.
2. Data: Celsius address transferred 50,000 ETH to FTX three hours before pausing withdrawals and other services
Etherscan data shows that an address marked as Celsius (0x8ace….89bb1130ee8) transferred 50,000 ETH (approximately $66 million) to FTX three hours before pausing withdrawals and other services (Beijing time 7:23).
Previous reports indicated that Celsius transferred 3,500 WBTC (approximately $89 million) to FTX less than an hour before pausing withdrawals and other services (Beijing time 9:29:10). (Source link)
3. Data: Antminer S9 series, S11, and several other mining machines are nearing shutdown price
According to F2pool data, as Bitcoin fell to around $25,000, several mining machines, including the entire Antminer S9 series, have reached their shutdown price based on an electricity cost of 0.4 yuan per kilowatt-hour and current mining difficulty. Additionally, Antminer S11 (shutdown price $24,600.59), Avalon 1026 (shutdown price $24,249.15), and Chipmore T2T+ (shutdown price $24,161.30), among others, are currently nearing their shutdown price. (Source link)
4. Rari Capital co-founder Jai Bhavnani announces exit from the project
Jai Bhavnani, co-founder of DeFi robo-advisor Rari Capital, announced his exit from the project and departure from the Tribe community. In his farewell letter, Jai Bhavnani mentioned issues currently present in the DeFi space, such as token dumping, a lack of real users and application scenarios, and the severe overestimation of on-chain governance, stating, "I have never sold a single RGT or TRIBE. I participated in the process from zero to one, and today the development of the ecosystem has exceeded my imagination." (Source link)
5. Data: Total market capitalization of crypto assets falls below $1 trillion, hitting a new low since late January last year
According to Coinmarketcap data, the total market capitalization of crypto assets has fallen below $1 trillion, currently around $978 billion, marking a new low since January 30, 2021. (Source link)
"What are some noteworthy articles to read in the past 24 hours?"
1. "In-depth Analysis of stETH Decoupling: A False Alarm or Another Crypto Crisis?"
Staking derivatives are not stablecoins and do not even reach the so-called "algorithmic stability." Some believe they are more similar to Greyscale's GBTC or akin to futures markets with unknown future delivery dates. Fundamentally, they lock in the rights to collateralized tokens, and it is expected that the trading price will be lower than the price of the underlying assets they lock.
2. "Web3 Games: Current Status and Future"
Web3 games are often criticized for poor graphics and user experience. This article will analyze the reasons why Web3 games will continue to exist from the perspectives of economic changes, shifts in game business models, and the evolution of the labor market.
3. "Nansen Interview with Fiskantes: A Deep Dive into the Mind of an Ape"
The rise of Zee Prime is largely attributed to the increasingly well-known Fiskantes (one of the founding partners of the project). This pseudonymous individual, who describes himself as a "risk communist," is a typical representative of crypto Twitter, effortlessly blending junk posts, market analysis, and social commentary behind the anime clown Hisoka's avatar.
