Daily Report | The SEC's motion to "unseal Binance lawsuit sealed documents" has been approved by the court; Ant Group plans to withdraw its investment in A&T Capital

整理：Mia, ChainCatcher

What Important Events Happened in the Past 24 Hours

1. JPEX: All financial transactions on the platform have been removed due to liquidity restrictions caused by third-party market makers temporarily locking funds
According to ChainCatcher, the virtual asset trading platform JPEX issued a special announcement stating that due to unfair treatment by relevant institutions in Hong Kong and a series of negative news, the third-party market makers partnered with the platform have temporarily locked funds and requested more information from the platform for negotiation, restricting the platform's liquidity and increasing its daily operational costs, leading to operational difficulties. Therefore, they are in contact with third-party market makers to resolve the liquidity shortage, with relevant details to be announced after negotiations are completed.

Due to the liquidity restrictions imposed by third-party market makers and in accordance with policy guidelines, JPEX has removed all transactions from the financial management page as of September 18, 00:00 Beijing time. Users can no longer place any new financial orders, and existing financial orders will remain until the product ends to receive returns.

JPEX stated that it will recover liquidity from third-party market makers as soon as possible and gradually adjust withdrawal fees to normal levels. During this period, the dedicated team responsible for urgent withdrawal requests will continue to process priority withdrawals. (Source link)

2. "Short-term incentive plan to allocate up to 50 million ARB" received 65.7% support from the Arbitrum community
According to ChainCatcher, the temperature check vote on the "Short-term incentive plan for Arbitrum" proposal in the Arbitrum community has concluded, with a support rate of 65.7% for "up to 50 million ARB by January 2024," 34.3% for "up to 25 million ARB by January 2024," and nearly 0% for "up to 75 million ARB by January 2024."

Previously, the Arbitrum incentive working group submitted the "Short-term incentive plan for Arbitrum" AIP proposal in the community forum, aiming to allocate up to 75 million ARB rewards from the DAO treasury to active Arbitrum protocols to meet the community's short-term needs. (Source link)

3. Scroll co-founder: New zkEVM expected to launch in a few weeks, mainnet is in the final testing phase
According to ChainCatcher, Ye Zhang, co-founder of the Ethereum-native zkEVM Layer 2 solution Scroll, stated in an interview at Token2049 that the new zkEVM is expected to launch in a few weeks, having undergone extensive testing and code auditing.

Additionally, Ye Zhang mentioned that Scroll is currently in the final testing phase and will soon launch the mainnet. Many large applications, such as Uniswap, have already been deployed on Scroll's testnet, and it is hoped that more Ethereum applications will be deployed on Scroll after the mainnet launch. (Source link)

4. The US SEC's motion to unseal documents in the Binance lawsuit has been approved by the court
According to ChainCatcher, Fox Business reporter Eleanor Terrett posted on social media that the judge in the SEC's case against Binance has approved the SEC's motion to unseal previously sealed documents, including "motions for enforcement and other relief, as well as motions opposing Binance.US's protective order." (Source link)

5. CoinEx: 50% of wallet system reconstruction completed, withdrawals will gradually resume within 7 working days
According to ChainCatcher, CoinEx Global updated the progress of the security incident on social media, stating that as of today, the team has successfully completed 50% of the wallet system reconstruction. Furthermore, the team has determined a strategy for resuming withdrawals, which will gradually restore these services within 7 working days. Ensuring 100% asset security remains the top priority before reactivating the withdrawal function. For certain low-circulation cryptocurrencies, the team is developing compensation strategies. (Source link)

6. The Ministry of Industry and Information Technology is seeking public opinions on the "Proposal for the Establishment of a Metaverse Standardization Working Group"
According to ChainCatcher, the Ministry of Industry and Information Technology is publicly soliciting opinions on the "Proposal for the Establishment of a Metaverse Standardization Working Group (Draft for Comments)." According to relevant documents, the working scope of the Metaverse Standardization Working Group includes:

1. Research and analysis of standardization needs in the metaverse field, building and maintaining a standard system for the metaverse industry, and proposing projects for the formulation and revision of industry standards in the metaverse field;
2. Carrying out the formulation and revision of industry standards in the metaverse field;
3. Pre-researching application standards for the metaverse in industrial manufacturing, communications, and other fields, as well as key technology standards related to digital identity, virtual digital humans, etc.;
4. Carrying out standard promotion, application promotion, and talent training in the metaverse field;
5. Actively connecting with international standardization organizations for the metaverse and proposing and participating in the formulation and revision of international standards for the metaverse in a timely manner. (Source link)

7. Bloomberg: Ant Group plans to withdraw its investment in A&T Capital
According to ChainCatcher, Bloomberg reported that Ant Group plans to withdraw from a $100 million fund and exit the cryptocurrency sector. According to insiders, Ant Group is planning to withdraw its investment in A&T Capital, and it is unclear whether A&T Capital will continue operations or attract new investors.

This move comes a few months after the resignation of A&T founding partner Yu Jun, who was under investigation for workplace behavior. Former Ant Group executive Yu Jun helped establish A&T and invested in offshore cryptocurrency projects.

It is reported that A&T was established in April 2021 and has invested in several popular crypto startups, including digital asset lending platform Matrixport and Ethereum software maker ConsenSys, with Ant Group being a major investor in A&T. (Source link)

8. Hong Kong police arrest another person related to the JPEX case, with over a thousand reports filed
According to ChainCatcher, the Hong Kong police arrested internet celebrity Lin Zuo this morning, suspected of being related to the JPEX case named by the Securities and Futures Commission. It is understood that another internet celebrity, Chen Yi, was also arrested; they are suspected of conspiracy to commit fraud, and the police searched Chen Yi's cryptocurrency exchange store "CYOTC" in Yung On Plaza, Tsim Sha Tsui. The police had also targeted another entertainment industry figure, but that person could not be arrested as they were not in Hong Kong.

Reports indicate that the police have received over a thousand reports related to the JPEX case. (Source link)

"What Exciting Articles Are Worth Reading in the Past 24 Hours"

1. "Reviving Solana DeFi: A Review of Ecological Projects' Q3 Progress and Q4 Outlook"
The DeFi universe of Solana has been efficiently built in the third quarter, filled with creativity and experimental spirit. From experienced developers to enthusiastic community members, everyone has "rolled up their sleeves" to lay a solid foundation for the skyscraper of financial innovation.

This is not just a simple stacking of bricks and stones, but rather a meticulously designed structure. Developers and community contributors are collaborating to ensure that unique value is added to the entire structure. The result is an ecosystem that is continuously growing and evolving in exciting and unpredictable ways.

2. "New Low in Trading Volume, Decreased Volatility: Data Interpreting the Grim Reality of the Crypto Market"

After the explosive growth in 2022, the sentiment in the crypto market has plunged, characterized by declining trading volume and a lack of liquidity.

How serious is it?

To help understand all this, this article provides three charts to explain the current state of the industry.

3. "Starting from UniSwapX and AA: Interpreting the Challenges of Intent-Centric Implementation"

Recently, in a well-known venture capital article by Paradigm titled "Intent-Based Architectures and Their Risks," "intent-centric protocols and infrastructures" ranked first among ten trends in the crypto field, combined with the Bob the Solver project and Anomo, DappOs's years of accumulation and exploration at the ETHCC conference in Paris. This has sparked industry focus on intent-centric architecture and this track, with the core goal of significantly enhancing user experience while completely obscuring complex transaction details, thus being seen as a new engine for promoting Web3 adoption.

During this Token2049 hackathon, I collaborated with the AstroX wallet technology team (focusing on high ROI growth products for the ToB side) to realize the second-place project in the intent-based DeFi track: Ethtent. This article will discuss the journey of implementing Solver and the applications of ERC4337 and UniSwapX in the two major implementations of Intent-centric.

Exploring what "intent" is? Can it be so beautiful? What applications does it have? What are the challenges of implementation?

4. "Insights from Token 2049: The Desolation and Opportunities for Bitcoin in Singapore 2049"

The time since the Token2049 event in Singapore has passed nearly two years since Bitcoin's peak of $60,000 in November 2021, but the level of excitement felt at the event is not much different from what I experienced at the event in San Francisco back then, and it may even be more lively. Over 10,000 people, countless projects, and 300 side events, it is hard to feel that this is the scene one would expect in a bear market.

Of course, compared to 2017, the landscape of the crypto circle has undergone tremendous changes in 2023, gaining recognition from more people and mainstream institutions. Recently, there has been a saying: the unfriendliness of the US towards Web3 policies and Hong Kong's vigorous development of Web3 indicate that the industry is in a state of east rising and west declining.