LianGuai Daily | RISC Zero raises $40 million; Manta Network developer p0x labs raises $25 million.

RISC Zero raises $40 million; Manta Network developer p0x labs raises $25 million.

Today’s News Highlights:

1. The U.S. SEC will begin reviewing Bitcoin spot ETFs this week, with a review period of up to 240 days.

2. Societe Generale, a French bank, has obtained the first cryptocurrency license issued by the French regulatory authority.

3. Binance completes its 24th quarterly burn of BNB tokens, destroying approximately 2 million BNB tokens this time.

• Elon Musk establishes x.AI, aiming to snipe OpenAI or tell a new story of capital?
• LianGuai Observation | L2 Networks Go Live in Large Numbers, Ethereum’s Scaling Battle Begins in the Second Half of the Year
• Opepen Threadition has been online for 2 days and has received over 37,000 mintings. Why is Jack Butcher always able to create phenomenal NFTs?

4. Polygon announces a new governance model composed of an “ecosystem committee”.

5. Binance temporarily suspends the partial market order function for all spot and margin trading pairs.

6. Polychain Capital raises approximately $200 million in its fourth fund’s “first close”.

7. Zero-knowledge proof company RISC Zero completes a $40 million Series A financing round, led by Blockchain Capital.

8. Telegram has exceeded 800 million monthly active users, with over 2.5 million new registered users daily.

Regulatory News

The court has approved the takeover of Prime Trust by the Nevada regulatory agency.

The Eighth Judicial District Court of Nevada has approved the bankruptcy management of Prime Trust, a cryptocurrency custody agency. Prior to this, Nevada ordered the company to cease all activities and accused it of using client funds to meet withdrawal requests. According to documents submitted to the Financial Institutions Division (FDI) of the Nevada Department of Business and Industry, Prime Trust’s overall financial situation has deteriorated significantly, leaving the company in an “unsafe or unsound condition for transactions”. The documents stated that the company’s operations will be taken over by John Guedry, the president of Nevada State Bank.

In June of this year, the Nevada regulatory agency announced that it had applied to take over Prime Trust and freeze all of its operations. Another cryptocurrency custody agency, BitGo, had previously terminated its acquisition of Prime Trust. It is reported that Prime Trust owes customers $85.67 million in fiat currency and $69.509 million in digital currency, but only holds $2.904 million in fiat currency and $68.648 million in cryptocurrency. The regulatory agency also accused Prime Trust of using funds from client accounts to meet withdrawal requests from old wallets.

The U.S. SEC will begin reviewing Bitcoin spot ETFs this week, with a review period of up to 240 days.

The U.S. Securities and Exchange Commission (SEC) will begin reviewing the listing applications of six Bitcoin spot ETFs, including one from BlackRock, this week. The Bitcoin ETP Trust application submitted by Bitwise was published in the Federal Register on Tuesday, while the applications for iShares Bitcoin Trust by BlackRock, Wise Origin Bitcoin Trust by Fidelity, WisdomTree Bitcoin Trust, VanEck Bitcoin Strategy ETF, and Galaxy Bitcoin ETF by ProShares will be published on Wednesday. The Valkyrie Bitcoin spot ETF was published in the Federal Register on May 15, with the SEC extending the review deadline in June. A spokesperson for Valkyrie stated that their Bitcoin spot ETF has not been published in the Federal Register, but their application was accepted by the SEC on Monday. Although the SEC issued a document seeking public consultation last week, the review will only officially begin after being published in the Federal Register. The review period was initially set at 45 days but can be extended to 240 days. While there is no guarantee that the SEC will approve any applications, the crypto community speculates that BlackRock’s application has a higher chance of approval.

French Bank Societe Generale Obtains the First Cryptocurrency License Issued by French Regulators

According to the official website of the French Financial Markets Authority (AMF), the cryptocurrency division SG Forge of Societe Generale (GLE) has obtained a license to provide digital asset trading, exchange, and custody, becoming the first company to receive a license to provide cryptocurrency services in France issued by the French financial regulators.

The Central Bank of Brazil Plans to Launch Public Consultation on Cryptocurrency Regulation in the Second Half of This Year

The Central Bank of Brazil announced today that it plans to launch a public consultation on cryptocurrency regulation in the second half of this year. The central bank emphasized in a statement that it intends to collect expert opinions and feedback from the public before implementing final rules, and emphasized that companies operating in the market will have at least six months to comply with the legislation. The central bank stated that it will take specific measures to limit risks associated with decentralized governance systems and prevent investors from accessing these assets without proper disclosure.

NFT

 

Project Updates

Celsius: XRP Ruling Could Impact Pricing of CEL Tokens, But Not Its Restructuring Plan

Lawyers representing bankrupt cryptocurrency loan company Celsius have stated that the XRP ruling could impact the pricing of CEL tokens, but will not affect its restructuring plan. Last week, a court ruled that institutional sales of XRP constitute securities, which caught the attention of Judge Martin Glenn, who is overseeing Celsius’ parallel bankruptcy proceedings. Kirkland & Ellis, representing Celsius, told the court, “We think the XRP ruling has no effect other than that it may impact the issuance of CEL tokens. It has no impact on the new company that is about to take over, which will not engage in any securities offerings or any historic business of Celsius.” The Fahrenheit Consortium recently won the bid for Celsius’ assets and will focus on Bitcoin mining and Ethereum staking. However, given that US bankruptcy rules mandate mandatory downgrading of customer claims related to securities, the XRP ruling could affect the repayment of funds to CEL holders.

Former FTX COO Constance Wang Joins Sino Global Capital

Insiders revealed that Constance Wang, former Chief Operating Officer of FTX, has joined cryptocurrency venture capital firm Sino Global Capital. Wang previously served as Chief Operating Officer of FTX and Co-CEO of FTX Digital Markets, a subsidiary of bankrupt cryptocurrency exchange FTX in the Bahamas. According to her LinkedIn profile, Wang’s responsibilities included leading global business expansion, overseeing token listings, and public relations and marketing for the exchange.

Sino Global Capital, founded by Matthew Graham in 2015, revealed after FTX’s collapse that it was an early investor in the exchange. A year ago, the venture capital firm launched a $200 million fund with FTX as a major investor. Court documents show that in January of this year, the court-appointed management team responsible for the FTX bankruptcy proceedings sought permission to subpoena Constance Wang and other former company executives. Constance Wang has not been accused of any wrongdoing related to the collapse of FTX or Alameda.

Solana Saga Mobile MR1 Release Update

Solana Web3 Mobile Saga release TKQ1.221220.425 version MR1 system update. This update includes the Android May security patch; fixes the occasional startup issue with the seed library, improving the stability of the seed library application; upgrades camera HDR and night mode algorithms, adds panoramic, delay, and document modes; improves screen color accuracy, optimizes temperature control algorithms and standby power consumption at the system level, and sets the default for Fastboot recovery mode to the recovery menu and adds a button to display the password when inputting.

Nansen CEO: PleasrDAO Twitter account hacked, users should not interact with it

Nansen CEO Alex Svanevik tweeted that the PleasrDAO Twitter account has been hacked. Users are reminded not to interact with it. The official PleasrDAO Twitter account has posted tweets related to the false token claim of PLEASR.

Binance completes 24th quarterly BNB burn, approximately 2 million BNB burned this time

According to the official announcement, the 24th quarterly BNB burn by Binance has been completed. A total of approximately 2 million BNB (1,991,854.33 BNB) were burned this time, including an additional 747.51 BNB burned as part of the BNB anti-black hole plan.

1inch announces the launch of a developer portal beta version

1inch Labs has released a beta version of the developer portal, which is a Web3 cloud SaaS (Software as a Service) platform that provides cutting-edge APIs for building new products. The main goal is to provide developers with fast and efficient software solutions to create new Web3 products. In the coming months, developers will be able to test various features of the available software solutions.

Nasdaq temporarily suspends launching its digital asset custody business

According to Jin10’s report, market news: Nasdaq has temporarily suspended the launch of its digital asset custody business due to regulatory risks.

Starknet announces the launch of Starknet appchains

Ethereum Layer2 scaling solution Starknet tweeted announcing the launch of Starknet appchains. Starknet appchains are customized environments where applications can customize Starknet instances to achieve better control over specifications, lower costs, greater scalability, and the option to join privacy. The Starknet Stack aims to allow any application to deploy its own Starknet appchain in a permissionless manner.

In addition, Eli Ben-Sasson, co-founder of StarkWare, announced the launch of the open-source project Starknet Foundry at the EthCC conference in Paris today. Starknet Foundry is a toolkit for developing Starknet contracts.

Binance: Partial market order functionality temporarily suspended for all spot and margin trading pairs

Binance tweeted that due to technical issues discovered after the previous update, the partial market order functionality for all spot and margin trading pairs has been temporarily suspended. The team is currently working to resolve the issue and will provide updates once the functionality is restored.

Polygon announces new governance model composed of an “ecosystem committee”

Polygon plans to completely reform its governance framework in the Polygon 2.0 roadmap to achieve more decentralized control. This includes launching an “ecosystem committee” for smart contract upgrades and introducing a two-stage community treasury to fund ecosystem projects. The Polygon team stated that the new governance model will form “three main governance pillars” focusing on core protocol governance, smart contract governance, and community treasury governance. Other key features include expanding the Polygon Improvement Proposal (PIP) framework, introducing an “ecosystem committee” for system smart contract upgrades, and implementing a two-stage community treasury governance to provide funding for promising ecosystem projects.

Investment and Financing

Polychain Capital’s fourth fund raised approximately $200 million in its “first close,” according to Fortune. The company plans to raise a total of about $400 million for the fourth fund. The new funding has led to a restructuring of Polychain’s team of approximately 25 people, with about 15 focused on research. As part of the personnel adjustments, three employees in the research team were dismissed as the company prepares for its fourth round of funding, while one employee was added. As part of this personnel adjustment, General Partner Niraj LianGuaint also left to start his own project.

Zero-knowledge proof company RISC Zero completes $40 million Series A financing, led by Blockchain Capital.

RISC Zero, an infrastructure company aimed at helping developers build zero-knowledge proof software, has completed a $40 million Series A financing round led by Blockchain Capital. Other investors include Galaxy Digital, IOSG, RockawayX, Maven 11, Fenbushi Capital, Delphi Digital, Algaé Ventures, IOBC, Zero Dao, and Alchemy from Tribute Labs. This funding will help RISC Zero bring its Bonsai computing platform to the market.

RISC Zero will launch the Bonsai computing platform, which is a decentralized proof engine that allows developers to integrate zk proofs into their applications and chains to enhance security.

Manta Network developer p0x labs raises $25 million in financing, led by Polychain Capital and Spark Capital.

According to The Block, Manta Network developer p0x labs has completed a $25 million Series A financing round with a valuation of $500 million, led by Polychain Capital and Spark Capital. This round of financing will be used to expand the ZK Layer 1 blockchain of Manta LianGuaicific and Manta Atlantic to achieve compliant on-chain privacy.

Manta Network has also launched the testnet of its Layer 2 solution, Manta LianGuaicific, aiming to develop ZK-based applications in its modular ZK ecosystem.

Important Data

Data: Ethereum ICO participant transfers $116 million ETH into Kraken after 8 years of dormancy.

According to blockchain analyst Yu Jin, half an hour ago, an Ethereum ICO participant transferred 61,216.6 ETH (worth $116 million) into Kraken. The address received 61,216.6 ETH from the Ethereum genesis block on July 30, 2015, when the value of 61,216.6 ETH was $19,038 (ICO price of $0.311). After eight years, it was moved for the first time and transferred to Kraken, currently worth $116 million.

Data: Sui Network sets a new record for daily transactions, with Sui 8192 accounting for 99%.

SuiVision data shows that the daily transaction volume of Sui Network has exceeded 28.63 million, reaching 28,631,718 transactions, a new high since the mainnet launch. Among them, Sui 8192 accounted for approximately 99% of the transactions, with a total of 28,484,340 transactions.

Telegram’s monthly active users have exceeded 800 million, with over 2.5 million new registered users every day.

Telegram founder LianGuaiVel Durov stated in his TG personal channel that more than 2.5 million new users register on Telegram every day. Earlier this year, Telegram’s monthly active users exceeded 800 million. This week, Telegram issued Telegram bonds worth about 270 million US dollars as a supplement to existing bonds. LianGuaiVel Durov personally purchased about a quarter of the new Telegram bonds, investing tens of millions of dollars in Telegram’s development. Personally, he does not “own” anything (except for Telegram, some Bitcoin, and some Toncoin).

LianGuaiNews APP Points – PT (Grape) officially launched, join Read to Earn together!

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