Evening News | Baiyu Capital replaces Li Lin as the new actual controller of Huobi; Transit Swap initiates the first phase of user asset refunds

Organizer: Runsheng, Chain Catcher

"What Important Events Happened in the Last 24 Hours"

1. Huobi Global has completed the formal equity transfer, and About Capital's acquisition fund becomes the new actual controller

Cryptocurrency exchange Huobi Global announced that its holding company has transferred all of its shares in Huobi Global to a fund under About Capital, making About Capital's acquisition fund the largest shareholder and actual controller of Huobi Global.

The transaction has been approved by the Huobi board and has been formally completed, with the equity and business transfer finalized. The official statement indicates that this transaction only involves a change in the controlling shareholder and will not affect the existing core management and operational team.

The official website shows that Hong Kong About Capital Management is an asset management company founded by Chen Yihua in 2013. He is also a partner at Jinglin Asset and holds an MBA from the Australian Graduate School of Management. It is reported that the company manages a fund called "Asian Special Opportunities Fund," with assets of $200 million. (Source link)

2. Huobi founder Li Lin: No longer the actual controller and shareholder of Huobi Global, and no longer has any authority

After the cryptocurrency exchange Huobi Global completed the sale of its equity and business to a fund under Hong Kong About Capital, Huobi founder Li Lin posted on social media, stating that he is no longer the actual controller and shareholder of Huobi Global and no longer has any authority.

The full text is as follows: "Saying goodbye. Just now, the equity transfer and asset delivery of Huobi Global have been completed, marking that the fund under About Capital has become the largest shareholder and actual controller of Huobi Global. I am no longer a shareholder of Huobi Global and do not directly or indirectly hold any authority over Huobi Global. Huobi has been a memorable journey since I founded it nine years ago. I thank the clients and partners who supported us during these nine years, as well as my companions and friends who accompanied me. The path leads to the end of the white clouds, and spring flows with the green stream. I believe that About Capital, with more international resources and a global perspective, can bring new momentum to Huobi Global's globalization process and lead Huobi Global into the next journey!" (Source link)

3. CZ responds to "centralization" doubts: Security, usability, and freedom are more important than decentralization

In response to the community's doubts about BNB Chain not being "decentralized" due to an attack on BNB Chain yesterday, Binance founder CZ reiterated in a tweet his 2019 article "CZ: Centralization vs Decentralization," stating, "What is more important than being centralized or decentralized is: security, usability, and freedom."

CZ stated that some hardcore "crypto people" believe decentralization itself is the ultimate goal, while he believes decentralization is a means to increase our freedom and security (at least self-control) without sacrificing usability. Many people think decentralization is absolute; you are either decentralized or you are not. However, he believes that in reality, there exists a gradient scale from centralization to decentralization. (Source link)

4. South Korean prosecutors arrest key assistant of Do Kwon, accusing him of false trading and price manipulation

According to JTBC, South Korean prosecutors have arrested a Terraform employee with the surname Yu, who is a key assistant to Do Kwon, and he is accused of engaging in false trading and price manipulation.

Chain Catcher previously reported that South Korean prosecutors issued arrest warrants for Do Kwon, the founder of Terra, and four others, and requested the Ministry of Foreign Affairs to revoke their passports. Interpol has issued a red notice for Do Kwon. (JTBC)

5. Transit Swap has now initiated the first phase of user asset refunds, accounting for approximately 68% of the total amount

Transit Swap has now initiated the first phase of user asset refunds (approximately 68%). Affected users can go to the refund website to claim their refunds. For users who leaked their private keys or mnemonic phrases due to personal reasons, the Transit Swap team will assist them in safely returning their assets as soon as possible.

With the assistance of BlockSec, all assets from Hacker#4's attack have been fully refunded as of yesterday. Today, partial refunds have been made for Hacker#2 and Hacker#5. Since this portion of assets was refunded after the first refund statistics were completed, it is not included in this refund.

"What Interesting Articles Are Worth Reading in the Last 24 Hours"

1. "The Acquisition of Huobi by Hong Kong About Capital's Acquisition Fund: The Whole Story"

Rumors of Huobi's acquisition have been circulating for a long time, and today the shoe has dropped. In the early hours of October 8, Huobi officially completed financial reconciliation and signed the delivery, being acquired by the acquisition fund under Hong Kong About Capital, making About Capital the largest shareholder and actual controller. The acquisition primarily involves the shares of Huobi founder Li Lin. The specific amount and the investors of the acquisition fund have not yet been confirmed. This transaction only involves a change in the controlling shareholder and will not affect the existing core management and operational team.

2. "Fun Cannot Save Web3 Games"

Axie Infinity pioneered the concept of P2E, attracting significant global attention but also driving a speculative bubble. Due to oversupply, token prices have been diluted. Critics argue that "fun is what can save gamefi." As a seasoned game designer, the author believes that making games fun may partially improve the sustainability of blockchain game mechanics, but it cannot fundamentally solve most of their existing problems. Builders should continue to focus on solving economic issues because a fun game, if poorly designed economically, will collapse, while a boring game, if well-designed economically, can iterate.

3. "ZONFF Research: What Are We Talking About When We Talk About Web3 Data?"

What are we talking about when we talk about Web3 data? To clarify this question, we first need to understand what data looks like in Web2. This article discusses the entire lifecycle of data generation, collection, storage, management, and usage. The author believes that the usage paradigm of Web3 data is significantly different from that of Web2, mainly in how data is aggregated, meaning that the storage, indexing, extraction, integration, and utilization of different types of data will vary.