Daily Report ｜ Xi Jinping: New technologies such as blockchain have greatly changed the way global factor resource allocation is conducted; Sina Weibo closes 80 accounts related to virtual currency trading speculation
ChainCatcher and RootData will hold an offline event titled "New Trends in Web3 and Changes in Investment and Financing" in Singapore on September 11; the newly appointed President of Singapore described cryptocurrency as "purely speculative" and "a bit crazy."Organizer: Grapefruit, ChainCatcher
What important events happened in the past 24 hours?
1. ChainCatcher and RootData will hold an offline event titled "New Trends in Web3 and Changes in Investment and Financing" in Singapore on September 11
ChainCatcher and RootData will host an offline exchange event themed "New Trends in Web3 and Changes in Investment and Financing" on September 11 from 14:00 to 17:00 in Singapore. This event is co-organized by Singular Labs and ByteTrade Lab, and sponsored by NULS, Nabox, PAWNFI, and zCLOAK.
Guests including Jon, founding partner of SevenX Ventures, Ray, senior director of IOSG Ventures, QuanYu, co-founder of RootData, and Daniel, head of ecology at ByteTrade Lab, will discuss new characteristics and changes in cryptocurrency market investment, aiming to provide inspiration and reflection for entrepreneurs and investors.
This event is also the fourth session of the "Zhen" series by ChainCatcher & RootData. The "Zhen" series was officially launched earlier this year, focusing on "real issues" in the industry to provide more constructive thoughts for industry development. The first three sessions were held in places like Hong Kong and Seoul, South Korea.
2. Sina Weibo issues announcement on preventing and handling speculation in virtual currency trading, closing 80 accounts
According to ChainCatcher, Sina Weibo Finance reported that in order to implement corporate responsibility and strictly enforce relevant management regulations such as the "People's Bank of China Law," "Commercial Bank Law," "Securities Law," "Cybersecurity Law," "Telecommunications Regulations," "Regulations on Preventing and Handling Illegal Fundraising," "State Council's Decision on Cleaning Up and Regulating Various Trading Places to Effectively Prevent Financial Risks," and "Implementation Opinions on Cleaning Up and Regulating Various Trading Places" by the State Council.
Sina Weibo proactively checked and processed user complaints regarding information related to illegal virtual currency trading speculation. According to relevant regulations, a total of 80 accounts were closed this time. The accounts in violation are shown in the image below. (Source link)
3. Cross-chain protocol Connext's token NEXT has a total airdrop scale of 105 million, starting today
According to ChainCatcher, Layer2 interoperability protocol Connext announced on its community forum that after completing the community witch filtering program, the latest distribution of NEXT tokens is as follows: total airdrop scale of 105,631,496.18 tokens, with 57,801 airdrop wallets; circulating supply at issuance of 106,841,704.25 tokens, with community allocation of 62,600,196.08 tokens.
Connext will airdrop NEXT tokens to early users on Polygon, Arbitrum, Optimism, and Gnosis Chain. The airdrop claiming period started on September 5, and the claiming address is: https://airdrop.connext.network/ (Source link)
4. Tether CTO: Tether currently holds $72.5 billion in U.S. Treasury bonds, making it the 22nd largest holder globally
According to ChainCatcher, Tether's Chief Technology Officer Paolo Ardoino stated on social media that Tether currently holds $72.5 billion in U.S. Treasury bonds, surpassing countries like the UAE, Mexico, Australia, and Spain, making it the 22nd largest holder globally. (Source link)
5. Osmosis founder: PUBG developer will launch a Cosmos-based chain called Settlus
According to ChainCatcher, Osmosis founder Josh Lee tweeted that KRAFTON, the developer of PUBG (PlayerUnknown's Battlegrounds), will launch a Cosmos-based chain called Settlus, aimed at providing a transparent settlement system for creators, with a testnet set to launch in early 2024. (Source link)
6. Xi Jinping: New technologies like blockchain greatly change the global allocation of resources, industrial development models, and people's lifestyles
According to ChainCatcher, Chinese President Xi Jinping sent a congratulatory letter to the 2023 China International Smart Industry Expo, pointing out that current new technologies such as the Internet, big data, cloud computing, artificial intelligence, and blockchain are undergoing profound evolution, accelerating the digital, intelligent, and green transformation of industries, and promoting the vigorous development of the smart industry and digital economy, which greatly changes the global allocation of resources, industrial development models, and people's lifestyles.
China attaches great importance to the development of the digital economy, continuously promoting the deep integration of digital technology and the real economy, collaboratively advancing the digital industrialization and industrial digitization, and accelerating the construction of a strong network country and digital China. (Source link)
7. Newly elected Singapore president calls cryptocurrency "purely speculative" and "a bit crazy"
According to ChainCatcher, newly elected Singapore President Tharman Shanmugaratnam believes that cryptocurrency is "purely speculative" and "a bit crazy." Shanmugaratnam's experience may indicate that he has some influence in formulating policies related to the future of finance, including cryptocurrencies and CBDCs.
Shanmugaratnam previously served as Singapore's Minister of Finance and Chairman of the Monetary Authority of Singapore, and his early stance on cryptocurrency was laissez-faire. In 2021, Shanmugaratnam stated that "the role of cryptocurrency in future finance may go beyond pure speculation and illegal finance," and he envisioned that "regulated stablecoins will play a useful role in traditional payment systems" in the future. (Source link)
8. Slow Mist: Total stolen assets from Stake.com amount to 9,615 ETH
According to ChainCatcher, Slow Mist (MistTrack) reported that the stolen assets from Stake.com include 6,001 ETH, 3.9 million USDT, 1.1 million USDC, and nearly 900,000 DAI, with USDT, USDC, and DAI all converted to ETH. All stolen funds (approximately 9,615.29 ETH) are currently held in 4 addresses. (Source link)
"What are some great articles worth reading in the past 24 hours?"
Most Layer2 protocols have a "backdoor" for developers to modify contracts when necessary. For example, in the event of a major vulnerability attack, they generally need to freeze contracts through a "security committee" managed by multi-signature as a form of "human intervention" to mitigate losses. However, this "backdoor" mechanism, while ensuring a response to vulnerability crises, also leaves a potential "centralization" risk that can be exploited, leading to widespread criticism.
To address the centralization risks of Layer2 protocols during emergency upgrades, zkSync co-founder Alex Glochowski recently proposed a new governance model of "on-chain multi-layer court system" simulating the real-world judicial system on social media. After the release of this new governance model concept, it quickly sparked intense debate in the crypto community: Can the "on-chain multi-layer court system" solve the centralization risks of Layer2 protocols during emergency upgrades? How feasible is it?
Turkey's inflation rate reached 58.94% in August, and forecasts indicate that as the Turkish lira rapidly depreciates, the inflation rate in Turkey will surge to 85.5% in October, potentially the highest in 24 years. Amid high inflation, Turkey has become a hotbed for cryptocurrency investment.
Surveys show a significant increase in cryptocurrency investors among Turkish adults. Over the past 18 months, the share of cryptocurrency investors among Turks aged 18 to 60 has grown by 12%, from 40% in November 2021 to 52% in May 2023, indicating a growing interest and acceptance of cryptocurrencies among the Turkish public. Meanwhile, the official currency, the lira, has depreciated by over 50% against the dollar, making cryptocurrency a safe haven against inflation.
3. "One Year After Ethereum's Merge: ETH Enters Deflation, Layer2 Narrative Continues"
Unknowingly, Ethereum's The Merge has just completed one year, and Ethereum has successfully operated under the proof-of-stake (PoS) mechanism for a year, proving the reliability of its network.
During this year, in addition to changes on the ETH supply side leading to Ethereum entering a deflationary era, the Layer2 sector has also seen new changes, while traditional financial institutions and tech giants are actively laying out, contributing many noteworthy new and old narratives to Ethereum.
After shifting its focus to RWA (real-world assets), Maker DAO has become one of the most profitable DeFi projects. However, co-founder Rune Christensen's bold improvements to Maker often spark doubts and discussions.
On September 1, Rune published an article titled "Explore a fork of the Solana codebase for NewChain" in the MakerDAO forum, exploring the possibility of creating a new application chain called NewChain based on the Solana codebase. This directly led Ethereum co-founder Vitalik to sell his long-held MKR.
