Daily Report | Shen Yu: Thanks to Arkham for helping recover funds from a batch of old addresses; FOX Reporter: Ripple founder donates 1 million USD in XRP to Harris Political Action Committee; Zhao Changpeng: Beware of deepfake videos related to me on social media
October 12 News OverviewOrganizer: Luan Peng, ChainCatcher
Important News:
- OKX will launch X (X empire) for spot trading and provide pre-listing futures for X
- Shandong Court's typical cases applying the Civil Code: Currently, there are no legal prohibitions on the issuance and trading of digital collectibles
- DWF Labs co-founder: The meme coin market has matured and stabilized, institutional investment in meme coins remains a priority
- Shen Yu: Thanks to Arkham for helping recover funds from a batch of old addresses
- Former FTX executive Ryan Salame announces his new position as a prisoner on LinkedIn before going to jail, adding "cleaning and wood carving" skills
- Citibank's cash token service has been put into commercial use
- Arbitrum community members question the progress of the "Game Catalyst Program" and propose to return 220 million ARB to the DAO treasury
- Mu Changchun: Under the value model of the digital yuan, intelligent payments can be provided on the blockchain, with future developments in smart contracts and other areas
"What important events happened in the past 24 hours"
OKX will launch X (X empire) for spot trading and provide pre-listing futures for X
OKX announced that it will launch X (X empire) on October 15, 2024, and introduce spot trading and pre-trading market futures. The X token recharge will open at 12:00 (UTC) on October 15, with a collective bidding session from 11:00 to 12:00 (UTC) on October 24, and X/USDT spot trading will begin at 12:00 (UTC) on the same day, with withdrawals opening at 10:00 (UTC) on October 25.
X empire is a "Tap-to-earn" game based on Telegram, where players earn in-game tokens by upgrading their characters, which can later be converted into $X tokens. The project combines AI, blockchain, and user-generated content, aiming to provide users with seamless access to the Web3 world.
The WeChat public account of the Laiwu District People's Court in Jinan published typical case 167 applying the Civil Code, which addresses the legal attributes of digital collectibles and the validity of their trading actions (Yang vs. a cultural company contract dispute). The ruling emphasized that digital collectibles are a form of online virtual property, and there are currently no legal prohibitions on the issuance and trading of digital collectibles in China. As long as the parties involved have the corresponding civil capacity and their intentions are genuine, the trading of digital collectibles should be recognized as legal and valid.
Digital collectibles possess both collectible and investment attributes, carrying significant market risks. Buyers aiming to profit from the price differences in the secondary market for digital collectibles should not be classified as consumers under the Consumer Rights Protection Law and should bear the corresponding risks of market price fluctuations.
DWF Labs co-founder Andrei Grachev stated on X: "The meme coin market has become a mature and stable part of the industry. It capitalizes on extreme fear and greed, allowing savvy investors and traders to amass significant wealth. DWF Labs institutionalized its investment in meme coins years ago, and this remains one of our priorities."
Shen Yu: Thanks to Arkham for helping recover funds from a batch of old addresses
Cobo co-founder and CEO Shen Yu expressed on X: "Recently, I organized a batch of old addresses from over 1000 days ago. Some of these addresses still had funds in old contracts, but they were not displayed on the front end. Thanks to Arkham for the timely reminder that helped recover these funds; I truly felt the warmth and progress of the industry."
Former FTX executive Ryan Salame shared his new status on LinkedIn before going to jail, "happily" announcing his new position as a prisoner at FCI Cumberland.
He also updated his profile to include "cleaning and wood carving" as one of his skills.
Previously reported, Ryan Salame's request to delay his prison sentence was denied by the judge.
Citibank's cash token service has been put into commercial use
A year ago, Citibank launched two pilot models for tokenized deposit solutions. The Citibank cash token service allows businesses and institutions to transfer funds between Citibank branches worldwide around the clock. This service is now commercially available, with Mars being one of the first clients.
The second solution is Citibank's trade token service (Citi Token Services for Trade), which is still in the pilot phase and is conducting new pilot transactions with shipping agents CB Fenton and GAC Panama Shipping.
According to Unchained, over four months ago, Arbitrum DAO authorized the allocation of 225 million ARB for the "Game Catalyst Program" (GCP). However, due to a lack of transparency and accountability mechanisms, community members have raised concerns.
Arbitrum community member Joseph Schiarizzi (@CupoJoseph) published a governance proposal suggesting that 220 million ARB in the GCP multi-signature wallet be returned to the Arbitrum DAO treasury.
The proposal pointed out that the GCP council has not fulfilled its responsibilities, delaying several oversight and transparency obligations promised in the initial proposal. On-chain data shows that 1.35 million ARB have already been transferred out of the GCP multi-signature wallet, leaving 223.65 million ARB. If the proposal passes, the GCP will retain only about $2 million in funds to continue operations until it can prove the need for more funding.
Schiarizzi stated that his proposal might not pass, but its purpose is to introduce some accountability for the $120 million ARB tokens supporting the GCP. He said, "I believe this will prompt the relevant parties to release updates more quickly."
Mu Changchun, head of the Digital Currency Research Institute of the People's Bank of China, recently wrote in a "Current Affairs Report" that the digital yuan, through a two-tier operational structure, combines both account and value models. In the future, the digital yuan will deepen its development in areas such as cross-border payments and smart contracts, aiding the internationalization of the yuan and the construction of a unified domestic market.
The digital yuan integrates both account and value models, achieving a unified ledger through data capability construction: under the account model, it can integrate and interconnect with traditional bank account systems; under the value model, it can facilitate value exchange in the form of currency strings, providing intelligent payments on the blockchain and usable in offline extreme scenarios such as "no network" and "no electricity," optimizing traditional trade finance processes and supporting cost reduction and efficiency enhancement.
Craig Wright, known as "Australian Satoshi," sues BTC Core and Square
Craig Wright, known as "Australian Satoshi," filed a lawsuit against BTC Core and Jack Dorsey's payment company Square in the UK High Court on October 10 as a "self-represented litigant," without hiring a lawyer. The specific purpose of the case has not been disclosed.
Craig Wright also posted legal threats related to MicroStrategy on the X platform, and it remains unclear whether this is related to the lawsuit.
Additionally, Craig Wright is currently attempting to initiate three appeals in the UK, two of which are against the Crypto Open Patent Alliance (COPA).
FOX reporter: Ripple founder donates $1 million XRP to Harris Political Action Committee
FOX reporter Eleanor Terrett stated on social media that Ripple founder Chris Larsen has made the first recorded cryptocurrency donation to Kamala Harris. According to new filings with the U.S. Federal Election Commission (FEC), Larsen donated $1 million XRP to Future Forward USA, one of the major super PACs supporting Harris.
Biden: Has authorized everything Trump needs
When U.S. President Biden was asked about Trump's security requests, he stated that he has authorized everything Trump needs.
It is reported that Trump requested security using military aircraft and vehicles in response to threats from Iran.
Zhao Changpeng: Beware of deepfake videos related to me on social media
Binance founder Zhao Changpeng posted on X: "There are deepfake videos of me on other social media platforms. Please be cautious of scams."
"What are the exciting articles worth reading in the past 24 hours"
Scroll airdrop allocation controversy: How does Binance Launchpool's high quota affect SCR price?
Yesterday, SCR officially launched as Binance's first pre-trading project, experiencing a sharp rise and fall after opening, currently consolidating around $1.1. As of the time of writing, the pre-trading price of SCR is $1.186.
On October 8, Binance and Scroll announced that the SCR token would become Binance's first pre-trading project and disclosed its token economics. Following the announcement, community voices questioned whether the low airdrop allocation and high Launchpool quota were meant to curry favor with Binance. In response, Scroll's core contributor Sandy tweeted that Binance is the best channel for achieving global distribution, as it will connect upstream and downstream channels to help Scroll develop to the next stage, especially in emerging markets. Scroll's ETH deposits and withdrawals are now live on Binance, and soon, stablecoin support on Scroll will also be directly available on Binance. This listing on Binance will help Scroll achieve global expansion.
Subsequently, Scroll co-founder Zhang Ye also tweeted to refute the "kneeling to CEX" viewpoint. He stated that this is a strategic decision to establish partnerships to promote growth and gain broader support, with Binance providing substantial support for stablecoin entry and exit. Furthermore, the timing of the current token issuance is entirely different from the circumstances under which ETH, Arbitrum, and Optimism were launched; CEX does not have the same leverage in allocation. He also explained that the Launchpool budget comes from growth, not community airdrops, and will not affect community rights. Token allocation is not a one-time event; it is a growth lever, and project construction requires long-term growth. The Scroll technology roadmap and the next phase of ecological growth planning will be released in a few weeks.
Roundtable Discussion: What is the biggest obstacle to the development of the intent track?
This Thursday evening, ChainCatcher hosted an X Space themed "When will 'Intent' Explode?" inviting senior builders from the intent track to share their insights and views.
From crypto geeks to mass adoption, an in-depth exploration of the crypto user experience
Since the birth of blockchain, crypto geeks have been committed to creating an interactive environment and architecture rich in rebellion and fundamentalism, which, while ensuring purity, also creates certain barriers. As more and more ordinary people engage in the blockchain ecosystem, the trend toward a more mainstream user experience will determine how the next billion users navigate the ocean of crypto.
When traditional user experience design collides with the new architecture of blockchain, we need to consider how to dismantle the barriers that exist within. This article analyzes the user experience architecture one by one and glances at the formation process of user experience in the crypto field in conjunction with the development history of the crypto sector.
On October 11, according to Korean media reports, Upbit, the largest cryptocurrency exchange by trading volume in South Korea, is facing a market monopoly investigation by local financial regulators. Previously, Korean media reported multiple times on Upbit's dominant position in its domestic market, with a market share exceeding 80%.
The background of this investigation is closely related to its partner digital bank K Bank's IPO application submitted in September. The unfolding of this event has sparked widespread attention on the close relationship between Upbit and K Bank.
Real-life fighting in the crypto circle, Bankless founder beats Synthetix founder
On October 11 local time (October 12 morning Beijing time), Synthetix founder Kain Warwick and Bankless founder David Hoffman engaged in a real-life fight in Salt Lake City, Utah.
This match was co-hosted by Permissionless and the fighting live-streaming platform Karate Combat. Permissionless is a cryptocurrency-themed conference co-hosted by Bankless and Blockworks, which will offer free tickets to the fighting event to users holding tickets.
From a marketing perspective, it is not difficult to understand why David chose to participate; as for Kain, he had previously reached a $500,000 bet agreement with David regarding Bankless's sponsorship (essentially an investment) of his new project infinex.
