ChainCatcher news, Hong Kong listed company Yao Gao Holdings announced that it has conditionally agreed to place up to 24,000,000 placement shares through a placement agent to no fewer than six subscribers at a placement price of HKD 4.03 per placement share. 20% of the net proceeds from the placement, approximately HKD 18.9 million, will be used for general working capital and MetaSpaceX Web3 business.

ChainCatcher News: The report from the Federal Deposit Insurance Corporation (FDIC) indicates that the failure of Signature Bank was due to mismanagement and the "contagion effect" from the collapses of Silicon Valley Bank and Silvergate Bank. The FDIC stated that Signature Bank heavily relied on uninsured deposits and lacked strong liquidity risk management measures, overall demonstrating poor risk management. Additionally, the bank run triggered by the failures of other banks exacerbated the situation. Furthermore, Signature Bank's services to the crypto industry were also considered a major risk.The FDIC noted that shortly after the New York State Department of Financial Services (NYDFS) took over Signature Bank in March, the FDIC began reviewing its oversight of the bank. Although the industry claims that Signature failed specifically due to its services for crypto clients, NYDFS head Adrienne Harris has repeatedly stated that the bank had other issues.Moreover, the Federal Reserve and the Government Accountability Office (GAO) released their respective assessments of Silicon Valley Bank and Signature Bank, with the Federal Reserve attributing the collapse of Silicon Valley Bank to a series of mismanagement issues, while factors such as interest rate hikes and liquidity risks further worsened the situation. The GAO pointed out that Signature had "reduced its exposure to crypto deposits" in the 12 months prior to its failure. Silicon Valley Bank was affected by rising interest rates, while Signature Bank had exposure in the digital asset sector. These banks failed to adequately manage deposit risks.All three reports highlighted that the lack of action from federal regulators was a contributing factor, stating that banking regulators could have taken action earlier to request more information or otherwise manage the banks and their risks. (source link)

Chain Catcher news, Web3.0 digital sports platform Zheshi Technology announced the completion of seed round financing from Gaozhang Capital. The funds from this round will mainly be used for team building and product development.Zheshi Technology is a digital sports platform that connects the offline sports world with the on-chain Web3 world. Offline, Zheshi Technology independently develops and deploys AI motion capture analysis systems in various sports spaces such as basketball courts and sports venues, utilizing AI visual algorithms to automatically record athletes' highlight videos and performance data; online, Zheshi Technology integrates with the Conflux blockchain, operating with the core concepts of NFT avatars + on-chain sports data/video credentials + sports level growth system, allowing Web3 to integrate into the real sports lives of the public.At this stage, Zheshi Technology's AI motion capture system has covered over 200 sports spaces in the country, accumulating more than 300,000 highly active athletes on the platform, and has generated over 300 million+ sports big data. (Source link)

Chain Catcher News, Shanghai Zheshi Information Technology Co., Ltd. (referred to as Blockie) announced the completion of its seed round financing, led by the domestic digital economy boutique investment institution Gaozhang Capital, with the specific amount of financing undisclosed.It is reported that Blockie uses AI visual algorithms to automatically record the performance and data of athletes. With NFT avatars, on-chain sports data/video certificates, and a sports level growth system as core modules, it aims to connect the offline sports world with Web3, intending to integrate Web3 into the lives of the general public. Currently, Blockie has an online basketball community of 300,000 users, and the team has been deeply involved in the sports technology industry for many years, with resources from well-known marathon events, extreme sports competitions, and sports brands. (Source link)