LianGuai Daily | Meta’s subsidiary Reality Labs incurred a loss of 3.74 billion US dollars in Q3; X platform launches video and audio call functionalities.
LianGuai Daily Meta's Subsidiary Reality Labs Records a Loss of $3.74 Billion in Q3; X Platform Introduces New Video and Audio Calling FeaturesToday’s Highlights:
Republican Congressman Mike Johnson elected Speaker of the House
Meta’s Reality Labs division loses 3.74 billion dollars in Q3
- Scroll Technology Analysis Can the unique zkEVM circuit drive the wave of Layer2?
- Interview with Cartridge Co-founder How to create an ‘on-chain Steam’?
- Why is it said that the abstraction of the entire chain account is the final piece of the puzzle for EIP-4337?
X platform launches video and audio call functionality, Musk says still in test version
Elliptic: Hamas cryptocurrency funding only reached 21,000 dollars, not millions
Game studio Neon Machine raises 20 million dollars in Series A funding, led by Polychain
Binance to launch POWR U perpetual contract on October 27
Regulatory News
Republican Congressman Mike Johnson elected Speaker of the House
Republican Congressman Mike Johnson has been elected as the next Speaker of the House. In the voting held on October 25, all 220 Republican members of the House voted in support of Johnson, while 209 Democratic members voted in support of Congressman Hakim Jeffries. Since the removal of former Speaker Kevin McCarthy on October 3, Congressman Patrick McHenry has been serving as the acting Speaker. Unlike other candidates for Speaker of the House, Johnson’s views on cryptocurrency are largely unknown.
Meanwhile, Vice Chair of the House Financial Services Committee, Congressman French Hill, chaired a subcommittee hearing titled “Modernizing Financial Services through Innovation and Competition.” The hearing focused on cryptocurrency-related legislation, including the Financial Services Innovation Act and the Consumer Choice Review in Digital Payments Act. With Johnson being sworn in, the House can once again submit legislation for a vote.
According to the Australian Broadcasting Corporation and “Australian Financial Review”, the Australian Federal Police raided “Changjiang Exchange” stores in multiple locations in Australia, arresting 7 people, including 4 Chinese citizens. The report pointed out that “Changjiang Exchange” is suspected of laundering money for criminals, with a total amount involved of up to 230 million Australian dollars, and a former deputy immigration minister had joined in promoting it. Local police in this case stated that they have discovered the “largest and most complex money laundering syndicate in Australia” through the investigation, and this syndicate is suspected of engaging in cybercrime, drug trafficking, cryptocurrency, and violent crime.
Commander Kate Ferry of the Federal Police Investigation Department stated that the accused group behind the scam deceived victims into believing that they had obtained high investment returns; most of the funds deposited into Australian bank accounts or remitted by Changjiang Exchange were related to an investment application called MetaTrader and other forex and cryptocurrency trading platforms. A key feature of this scam is that the accused group has the ability to produce proprietary software that is compatible with legitimate trading platforms, in order to distort the true market value of currency exchange rates.
The federal police alleged that the offshore group utilized Chinese citizens residing in Australia (mainly holding student visas) to register false Australian companies and trading licenses with ASIC. It used these Chinese citizens to open bank accounts in Australia, most of which were associated with false businesses, and then used these false businesses, substitute directors, and bank accounts to launder fraudulent funds through Changjiang Exchange.
Metaverse & NFT
Meta’s subsidiary Reality Labs incurs a Q3 loss of $3.74 billion
According to CNBC, Meta revealed in its third-quarter earnings report on Wednesday that its subsidiary Reality Labs incurred an operating loss of $3.74 billion. The department’s revenue declined from $285 million a year ago to $210 million, a decrease of 26%. Over the past 21 months, Reality Labs has incurred a loss of approximately $24 billion.
Memeland launches MEME community presale and announces token contract address
The NFT project Memeland has launched a pre-sale of MEME tokens for the community (discounted sale), allowing participants on the whitelist and waitlist to join. There is just over 1 day and 3 hours left until the end of the sale. The token contract address is 0xb131f4A55907B10d1F0A50d8ab8FA09EC342cd74.
In news later today, the MEME community pre-sale has currently raised 5961 ETH, worth approximately $10.7 million.
Project Updates
SBF Lawyer: SBF has prepared extensive evidence and will defend himself in court
Mark Cohen, defense lawyer for SBF, stated in a phone conference on Wednesday that his client will testify in court on October 26th (this Thursday) and present his appeal directly to the jurors to prove that he did not commit fraud or conspire to commit fraud on the cryptocurrency trading platform FTX. Presenting this evidence may take a whole day.
Bitwise submits updated version of Bitcoin spot ETF prospectus
According to Bloomberg analyst James Seyffart, Bitwise has submitted an updated version of the Bitcoin spot ETF prospectus to the SEC. This is Bitwise’s response to the SEC’s comments. If Bitwise’s application is approved by the SEC, the ETF will trade under the ticker symbol BITB.
CoinFLEX creditors file lawsuit against CEO and seek to recover funds from investor Roger Ver
According to CoinDesk, based on a Hong Kong civil court document dated October 12th, CoinFLEX creditors have filed a lawsuit against CoinFLEX CEO Mark Lamb and company investor Roger Ver, accusing Mark Lamb of violating CoinFLEX’s fiduciary duties when launching the claims platform OPNX without authorization from the board of directors or creditors. They allege Mark Lamb’s “misconduct” in using the company’s intellectual property, technology, customer base, and employees to establish OPNX.
The subpoena for OPNX also accuses Mark Lamb of reaching a settlement agreement with Roger Ver without authorization. The lawsuit also seeks to recover the “profits and/or traceable proceeds” obtained from the settlement agreement between Roger Ver and Mark Lamb. However, Roger Ver responded by stating that the public records of his dispute and settlement with CoinFLEX do not fully reflect the circumstances, and he has not yet received any subpoena related to the Hong Kong subpoena, suggesting that the truth has been distorted in Mark Lamb’s public statements, press releases, and communications with CoinFLEX creditors.
X platform launches video and audio calling feature, Musk says it’s still in testing
According to Interface News, Elon Musk’s social app X officially launched its video and audio calling feature on October 25th. A user posted: “X now allows you to make voice and video calls without sharing your phone number.” Musk responded by stating that it is still a testing version.
FTX or Will Restart Exchange” news pushed FTX large credit offer more than 50%
According to Bloomberg, after the news of “FTX Negotiating with Three Bidders to Restart the Exchange” was announced, the price of the company’s credit increased. Cherokee Acquisition, a distressed asset investment company, stated that the offer for FTX’s large-scale credit is between 50% and 53%, compared to over 40% last week. Since FTX filed for bankruptcy last year, FTX executives have recovered about $7 billion in assets, and FTX credit prices have been steadily rising over the past year. Large hedge funds have also been trading these credits, including rights to FTX accounts and related loss compensations.
According to previous reports, FTX is negotiating with three bidders to restart the exchange and will make a decision before mid-December. Options include selling the entire exchange or bringing in partners to help restart the exchange. In addition, FTX is also considering reopening its own trading platform.
Blockchain analysis company Elliptic stated in a post that the data describing the scale of Hamas’ cryptocurrency fundraising has been exaggerated. Since October 7th, Hamas has only received $21,000 in new cryptocurrency donations, most of which have been frozen. “The unique traceability of these assets means that the amount raised is still small compared to other sources of funding.”
It is reported that Elliptic has contacted The Wall Street Journal and US Senator Elizabeth Warren regarding the false claim that Hamas raised millions of dollars through cryptocurrency donations. Previously, she and more than 100 legislators had requested the Biden administration to address the issue of terrorist financing through cryptocurrency.
Binance will launch POWR U perpetual contract on October 27
Binance Futures will launch the USDⓈ-M POWR perpetual contract with leverage of up to 50x at 10:30 on October 27, 2023 (Beijing time).
Binance completes integration of native USDC on the Polygon network and opens up deposit services
Binance announced that the integration of native USD Coin (USDC) on the Polygon network has been completed, and deposit services for the token on the above network are now open. Withdrawal services for the token on the above network will be opened after confirmation of a sufficient deposit amount.
Funding News
Neon Machine, a game studio, completes $20 million Series A funding round, led by Polychain
According to Decrypt, Neon Machine, a game studio based in Seattle, has announced that it has raised $20 million in a Series A funding round. Polychain Capital led the round, with participation from Griffin Gaming LianGuairtners, Brevan Howard Digital, Franklin Templeton, IOSG Ventures, and Tess Ventures. The company, a manufacturer of Shrapnel, has raised a total of $37.5 million through seed funding, Series A funding, and private token sales.
The company has a total of 70 employees. The funds will be used for further development of the sci-fi shooting game “Shrapnel” at a critical moment, as the game team is preparing to release an early access version in December, followed by a full release sometime in 2024. A large amount of in-game content, such as weapon parts, weapons, and cosmetics, will be available in the form of NFTs on Shrapnel’s Avalanche subnetwork, which is a private encrypted network built on Avalanche. As early as April, Shrapnel launched its own ERC-20 token, SHRAP, on its Avalanche network.
Binance Labs: CyberConnect receives follow-on investment
Binance Labs tweeted that it has made a follow-on investment in CyberConnect.
Aera, a DAO fund management protocol, completes $8 million funding round, led by Bain Capital Crypto
Aera, a fund management protocol, has completed an $8 million funding round led by Bain Capital Crypto, with participation from Jump Trading. Aera aims to help decentralized autonomous organizations (DAOs) manage their finances.
Important Data
US Commerce Department data shows that US GDP grew at an annual rate of 4.9% in the third quarter, the fastest pace since the fourth quarter of 2021. Although this strong economic growth is unlikely to continue, it demonstrates the resilience of the economy. Growth in the fourth quarter may slow due to the United Auto Workers strike and millions of Americans resuming student loan repayments. Most economists have revised their forecasts and believe that the Fed can achieve a “soft landing” for the economy. Financial markets expect the Fed to maintain interest rates in November.
“FTX Cold Storage” address transfers 470,000 SOL tokens, equivalent to $15 million
According to Shield Alert Monitoring, an address labeled as “FTX Cold Storage” has transferred 470,000 SOL tokens (approximately $15 million). Earlier today, FTX and Alameda addresses also transferred 21,967 COMP tokens (about $1 million) and 974,270 RNDR tokens (about $2 million) to Wintermute.
Sui Foundation: No Account on Binance and No Sale of Any SUI Tokens on Binance
Sui Foundation states on X platform: “In response to inaccurate statements online regarding Sui Foundation, we would like to share the following information confirmed by Binance, which is that Sui Foundation does not have an account on Binance and has not sold any SUI tokens on their platform.”
Grayscale GBTC Price Increase of 220% Suggests Overtaking Nvidia
According to CoinDesk, TradingView data shows that the price of Grayscale Bitcoin Trust (GBTC) has soared 220% to $26.79 this year. Meanwhile, Nvidia Corp (NVDA), the best-performing stock in the S&P 500 index, has risen 198%, while the index itself has risen 9%. Bitcoin price has doubled this year, while traditional fixed-income tools like government bonds have collapsed.
Paradigm: Attacker of Fantom Foundation Wallet Converts 4,390 ETH to 8 Million DAI
According to Paradigm monitoring, the attacker of the Fantom Foundation wallet has converted approximately 4,390 ETH to approximately 8 million DAI. Previously, on October 17th, a wallet tagged with Fantom Foundation was depleted of tokens worth approximately $7 million (about 4,500 ETH).
LianGuaiNews APP Points Mall Officially Launched
Hardcore prizes for free redemption: imKeyPro hardware wallet, First Class Warehouse research report monthly card, Ballet REAL series wallet, AICoin membership, various peripherals, and hundreds of selected research report collections. First come, first served, Experience now!
LianGuaiNews Launches Global LEAP Journey!
South Korea, Singapore, Shanghai, Taipei, September-December, multiple locations come together to witness a new chapter of globalization!
📥Events are being jointly built in multiple locations, Welcome to communicate!
We will continue to update Blocking; if you have any questions or suggestions, please contact us!
Was this article helpful?
93 out of 132 found this helpful
Related articles
- DTCC pours cold water on the hot speculation, Bitcoin spot ETF still subject to SEC’s decision.
- Bitcoin is rising like a rocket, why is Ethereum moving like a tractor?
- Aave’s Innovations and Challenges From Aave V3’s High Growth to GHO’s Liquidity Strategy
- LianGuairadigm, the top cryptocurrency institution, is facing community resistance and significant changes in its leadership. What is happening?
- LD Capital How should we dance with the wolves by dissecting the DWF business logic?
- Ethereum Under Pressure: Is the Buoy Sinking?
- A Crypto Renaissance: Moving Beyond the Clown Outfit
