Daily Report ｜ U.S. SEC Chairman: Restarting FTX "within the legal framework" is feasible; SBI Holdings will launch a Web3 fund of up to $663 million within the year

整理：Mia, ChainCatcher

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

1. A new U.S. bill proposes to ban government employees from using blockchain networks developed by Chinese companies like Conflux and prohibits trading with USDT's parent company iFinex
U.S. Representatives Zach Nunn and Abigail Spanberger jointly introduced the "Creating Liability for Innovators and Technology Act" (CLARITY), which prohibits federal government officials from doing business with Chinese blockchain companies and bans government employees from using the underlying networks of Chinese blockchain or crypto trading platforms. It also explicitly prohibits U.S. government officials from trading with iFinex, the parent company of USDT.

Additionally, the bill prohibits officials from trading with The Spartan Network, The Conflux Network, and Red Date Technology. (Source link)

2. SEC Chairman: "Restarting FTX within the law" is feasible
Gary Gensler, Chairman of the U.S. Securities and Exchange Commission, stated during Fintech Week in Washington, D.C., that if the new leadership of FTX has a clear understanding of the law, restarting FTX, operated by the former president of the New York Stock Exchange, is feasible "within the law."

Previously reported, a company run by former NYSE president Tom Farley is one of three bidders for FTX's remaining assets. The winning bidder could restart the trading platform after it plans to exit bankruptcy next year. (Source link)

3. Japanese financial giant SBI Holdings to launch a $663 million Web3 fund within the year
Japanese financial giant SBI Holdings will begin operating a fund to invest in startups in Web3, AI, the metaverse, and more this year. Each investment is expected to range from hundreds of millions to over a billion yen, with a total of 150 to 200 companies targeted. The entire fund is expected to reach a maximum size of 100 billion yen (approximately $663 million).
Additionally, the fund will support local startups by inviting major Japanese banks and regional banks to invest, with Sumitomo Mitsui Banking Corporation, Mizuho Bank, Nippon Life Insurance, and Daiwa Securities Group already deciding to invest over 50 billion yen in the fund. (Source link)

4. Binance releases November proof of reserves update: All listed assets have reserve ratios exceeding 100%
According to official news, Binance released its November proof of reserves update, showing that all listed assets have reserve ratios exceeding 100%, with BTC, ETH, and USDT reserve ratios at 104.22%, 105.2%, and 118.83%, respectively. (Source link)

"What interesting articles are worth reading in the past 24 hours"

1. "As the 'Death Wave' arrives, a look at the seven ways Web3 projects can die"

Summarizing the "last words" of these dying projects, ChainCatcher identified seven major reasons for their demise. For most declared dead projects, lack of funding is the primary and most direct cause, while other reasons include lack of market fit for the product and tightening regulatory policies.

2. "On the 15th anniversary of Bitcoin, does 'digital gold' remain unchanged in the face of change?"

Looking at the Bitcoin and Ethereum ecosystems, from Taproot Assets to RaaS, the BTC and ETH communities seem to gradually reach a consensus—in the absence of rapid improvement in the economic environment, simplifying user operations from a technical perspective and providing developers with more tools to play with may be a more hopeful route out of the bear market. Thus, we can anticipate that the 16th year of the Bitcoin white paper and the new narrative following Ethereum's Cancun upgrade will further refine the solutions to the bear market.

3. "FTX's restart brings continuous good news, three acquirers have been established, and off-market user assets are being acquired at half price"

The remaining contenders for acquiring FTX include Bullish, a crypto exchange under Block.one, fintech startup Figure Technologies, and crypto venture firm Proof Group, making the restart of FTX possible.