zkPass completed US$12.5 million in Series A financing; Worldcoin launched a new generation of iris scanning Orb equipment and will launch door-to-door iris scanning services and Deep Face technology; the US Bitcoin spot ETF had a total net inflow of US$470 million yesterday, with net inflows continuing for 5 days.
Today’s news tips:
FBI arrests mastermind involved in SEC X hacking incident
Microsoft will terminate China’s personal Azure OpenAI service, only available to enterprise customers
Worldcoin launches new generation iris scanning Orb device, will launch door-to-door iris scanning service and Deep Face technology
ZKsync’s new proposal proposes Ignite plan to distribute 300 million ZK tokens to DeFi users within 9 months
Kraken launches wrapped Bitcoin product kBTC
Musk further reveals “Department of Government Efficiency” plan during Trump campaign, driving DOGE token rally
Singapore’s DBS Bank launches “DBS Token Services” to provide blockchain-based banking solutions to institutional customers
Polymarket’s official APP ranks first in the “Newspapers and Magazines” category of the U.S. App Store in terms of downloads
regulatory news
The U.S. SEC formally appeals the ruling in its XRP lawsuit against Ripple
According to Bitcoin.com, the U.S. Securities and Exchange Commission (SEC) has officially filed an appeal against its ruling in the XRP lawsuit against Ripple. The regulator filed Schedule C with the U.S. Court of Appeals for the Second Circuit on Thursday. In this case, the SEC is the plaintiff and appellant, and the defendants are Ripple Labs Inc. and its top managers Brad Garlinghouse and Chris Larsen. The SEC’s original lawsuit accused Ripple and its leaders of violating relevant provisions of the Securities Act of 1933 by offering and selling XRP without required registration. On appeal, the SEC challenged several important rulings. It challenged the court’s conclusion that XRP sold by Ripple on the digital asset platform did not constitute an unregistered security, as well as its decision that Garlinghouse and Larsen’s individual sales did not violate securities laws. The SEC also disputed the ruling that Ripple’s non-cash distribution of XRP in exchange for providing services did not violate the Securities Act of 1933.
On July 13, 2023, Ripple achieved a partial victory when a court ruled that sales of XRP on digital trading platforms were not considered securities. However, the court determined that XRP sold by Ripple to institutional investors was an unregistered security. Additionally, the court ruled that Garlinghouse and Larsen’s personal XRP sales did not constitute illegal conduct. On August 7 this year, the court issued a final judgment requiring Ripple to pay a civil penalty of US$125 million and prohibiting the company from violating the Securities Law again.
U.S. CFTC says court ruling allowing Kalshi to launch prediction market was wrong
The U.S. Commodity Futures Trading Commission (CFTC) said a U.S. District Court judge erred in ruling that the commission exceeded its authority when it blocked prediction market Kalshi from providing U.S. election predictions, The Block reported. In an appeal brief filed Wednesday with the U.S. Court of Appeals for the District of Columbia Circuit, the CFTC argued that the ruling should be “overturned and the commission’s order reinstated.” “The district court erred at every turn when it refused to accept the ordinary meaning of, or simply confused, four separate terms or phrases in the statute,” the CFTC said in its brief. Those phrases included “gambling” and “trading.” “. This happened about a year after the CFTC said Kalshi could not provide election contracts. The CFTC said the contracts were “contrary to the public interest” and involved gambling. In the CFTC’s briefing, the commission delves into elements of the Commodity Exchange Act, including protecting “all market participants from fraudulent or other abusive sales practices.”
Kalshi filed the lawsuit in November 2023. Subsequently, a judge in the U.S. District Court for the District of Columbia ruled in September that the CFTC exceeded its statutory authority when it attempted to prevent Kalshi from providing election contracts. In his ruling, the judge said Kalshi’s contract did not involve “illegal activity or gambling.” The commission quickly appealed the ruling, but it was ultimately dismissed by a federal appeals court on October 2. Kalshi has since launched bets on who will win the US presidential election.
FBI arrests man behind SEC X hack
The U.S. Department of Justice announced that Eric Council Jr., an Alabama man, was arrested by the FBI for his involvement in the hacking of the U.S. Securities and Exchange Commission (SEC) X account (formerly Twitter) in January 2024. Hackers posted false news claiming the SEC approved a Bitcoin ETF, causing the price of Bitcoin to briefly surge by $1,000. The attack was carried out via SIM swapping, and the Council was charged with identity theft and device fraud. The SEC and FBI are closely investigating the case. It is reported that the Alabama man suspected of attacking the SEC through SIM swapping in January 2024 searched on Google for “SECGOV hack”, “How to determine if you are under FBI investigation” and “Not Notified” after the hack. Signs of being investigated by law enforcement agencies or the FBI” and other related content.
Ireland is urgently updating financial regulations to cover cryptocurrencies
According to the “Irish Examiner” report, the Irish government is urgently drafting legislation to ensure that digital assets and cryptocurrency companies are included in the scope of supervision before the EU’s new anti-money laundering and counter-terrorism financing law takes effect on December 30. Finance Minister Jack Chambers has received approval to update financial regulations to ensure they are consistent with new EU regulations. Earlier this year, Irish police seized approximately 6.5 million euros in cryptocurrency during an investigation into darknet markets and money laundering.
AI
Microsoft will terminate China’s personal Azure OpenAI service, only available to enterprise customers
According to China Business News, many developers received emails from Microsoft stating that due to local regulatory requirements, Microsoft’s Azure OpenAI service will be shut down on October 21. In the future, only enterprise customers in mainland China can subscribe to Azure’s OpenAI service.
Most developers received the email on the morning of the 17th. Some developers said, “This is the only window for individuals to use OpenAI in compliance with regulations in China, and it is now closed.” At the same time, some developers were dissatisfied with Microsoft’s “only four days of processing time.” In response to this matter, Microsoft has not yet expressed its position.
Project news
Worldcoin launches new generation iris scanning Orb device, will launch door-to-door iris scanning service and Deep Face technology
PANews reported on October 18 that Worldcoin (now renamed World Network), a digital identity project backed by Sam Altman, demonstrated its next-generation iris scanning device “Orb” and other tools at a live event in San Francisco. The new Orb is easier to mass-produce, has fewer parts and runs three times faster. World said people will soon be able to authenticate their identities in coffee shops, and announced a partnership with Rappi, Latin America’s No. 1 delivery service, to allow people to make appointments for door-to-door Orb verification services.
Additionally, World launched Deep Face, the company’s attempt to use human verification services to combat deepfakes and impersonations online. The startup said Deep Face could be used to enhance the functionality of apps like FaceTime, Zoom and X, but did not provide details on how this would be achieved. The company also announced the beta version of its World ID credential, a government ID replacement for online use.
Worldcoin announced that it has changed its name to World Network, and its Layer 2 network World Chain has been launched on the main network.
According to The Block, Worldcoin, a digital identity project backed by Sam Altman, is changing its name to World Network, or World for short. On the occasion of this name change, the project also announced that its Layer 2 network World Chain has been launched on the mainnet. World Chain is a second-layer blockchain network connected to projects and secured by Ethereum. Optimism, Alchemy, Uniswap, Safe, Dune and Etherscan will support the blockchain’s launch. The blockchain is built using OP Stack, and World Network says user transactions account for approximately 44% of OP Mainnet activity, making it the largest application on the network. World wrote in a press release: “As the project scales and the importance of World ID’s human protocol proof increases, the name ‘Worldcoin’ can no longer capture the project’s mission of accelerating development for everyone. With World Chain, World With the three pillars of ID and Worldcoin, World truly builds a network of real, verified humans, aiming to achieve an optimistic future in which humans will continue to be at the center of artificial intelligence progress.”
Later in the day, both Uniswap and LayerZero announced that they had been launched on the World Chain mainnet.
YGG expands its business beyond games and launches a new project “FoW” that provides decentralized money-making opportunities
According to the official blog, Yield Guild Games (YGG) announced the launch of Future of Work (FoW), a new project aimed at providing its community with decentralized money-making opportunities in the broader Web3 ecosystem. FoW’s domain has expanded beyond gaming, enabling wider applications by tapping the growing need for human input in areas such as artificial intelligence data annotation and decentralized physical infrastructure networks (DePIN). The YGG community was introduced to FoW during Season 6 of the Guild Advancement Program (GAP), with AI Bounty Missions featuring partner projects Sapien, FrodoBots, and Navigate highlighting gamified missions on each platform.
Binance will end Scroll (SCR) pre-market trading and list spot trading, adding a seed tag to it
According to the official announcement, Binance will end Scroll (SCR) pre-market trading at 17:00 on October 21, 2024 (Eastern Eighth District time), and open at 16:00 on October 22, 2024 (Eastern Eighth District time) SCR/BTC, SCR/USDT, SCR/FDUSD, SCR/TRY spot trading pairs. The SCR recharge channel is now open. SCR withdrawal is expected to be open at 16:00 on October 23, 2024 (East Eighth District time). The transfer function will be restored before 18:00 on October 21, 2024 (East Eighth District time). . Seed tags will apply to SCR.
Eclipse: The official bridge is online and the Eclipse mainnet is open to the public
The Ethereum SVM Layer2 network Eclipse stated on the In the next four months, all platform fees on Scope will be donated to the Eclipse Creator Fund to support artists and their creative activities on Eclipse. As the Eclipse mainnet opens to the public, the withdrawal function will be launched in the coming weeks.
New documents reveal the Trump family will receive 75% of the net income of crypto project WLFI without any liability
According to CNBC, U.S. Republican presidential candidate Donald Trump’s crypto project World Liberty Financial released a 13-page document on Thursday describing its mission and how the tokens will be distributed, noting Trump and his family. Receiving 75% of the net proceeds, the Trump family will receive 22.5 billion “WLFI” tokens, currently worth $337.5 million based on a price of 1.5 cents per token when issued this week. The documents also show that Trump and his family do not accept any responsibility. It states that none of them are directors, employees, officers or operators of WLF or its affiliates, and that the project and tokens are “not political or associated with any political campaign.”
WLF’s white paper said a Delaware company called DT Marks DEFI LLC, which has ties to Trump, would receive three-quarters of the net agreement revenue. The document released Thursday defines net protocol revenue as the revenue WLF derives from “any source (including but not limited to platform royalties, token sale proceeds, advertising or other revenue sources), after deducting agreed-upon fees and costs for WLF’s continued operations.” After the required reserves.” Approximately $30 million of the initial revenue is earmarked for reserves to cover operating expenses and other financial obligations. The remaining 25% of net agreement proceeds will accrue to Axiom Management Group (AMG), a Puerto Rican limited liability company wholly owned by co-founders Chase Herro and Zachary Folkman. AMG has agreed to allocate half of its rights to net agreement proceeds to a third LLC, WC Digital Fi, an affiliate of Trump confidant and political donor Steve Witkoff and “certain family members.” Witkoff’s son Zachary is also listed as one of the project’s co-founders.
Coinbase International Station Will Launch Turbo Perpetual Futures Contract
Coinbase International Station announced on the
ZKsync’s new proposal proposes Ignite plan to distribute 300 million ZK tokens to DeFi users within 9 months
ZKsync released its first governance proposal, called ZKsync Ignite, and plans to transform ZKsync Era into the liquidity center of Elastic Chain through this project. To this end, 300 million ZK tokens will be distributed to DeFi users in the next nine months. The proposal has been announced on the ZK Nation forum and aims to promote the further development and expansion of the ZKsync ecosystem.
Kraken launches wrapped Bitcoin product kBTC
According to the official blog, Kraken has launched a new wrapped Bitcoin product kBTC, which is a cross-network compatible ERC-20 token fully hosted by Kraken. kBTC 1:1 is supported by Bitcoin and can be used in decentralized applications such as DeFi, expanding the application scenarios of Bitcoin through interoperability with networks such as Ethereum and OP Mainnet. Kraken emphasizes its best-in-class custody process and transparency, and users can verify kBTC reserves on-chain at any time.
Kaiko Report: Wash trading by DeFi issuers remains ‘common’
PANews, October 18, according to Bloomberg, research firm Kaiko said that the wash trading strategy used to increase the value of NexFundAI, a token created by the FBI, is still a common practice on decentralized financial exchanges (DEX). , can also be encountered in some centralized exchanges.
Kaiko analysts said in a report on Thursday that its data shows that many of the more than 200,000 assets on Ethereum DEX lack utility and are controlled by individuals; some token issuers are on exchange Uniswap Establishing short-term liquidity pools, they control the liquidity in the pool and perform wash trades to attract other investors; once others come in, the issuer sells the tokens, earning up to 22x their initial Ethereum investment in approximately 10 days Earnings; The analysis revealed widespread fraud among token issuers that extends beyond the scope of the FBI’s NexFundAI investigation.
Musk further reveals “Department of Government Efficiency” plan during Trump campaign, driving DOGE token rally
PANews, October 18, CoinDesk reported that Dogecoin (DOGE) rose after the U.S. market on Thursday as entrepreneur Elon Musk further disclosed his proposed “Department of Government Efficiency” plan at a Pennsylvania town hall. The event encourages early voting in battleground states where Republicans and Democrats are evenly matched. The proposed department, known by its abbreviation DOGE, would seek to improve the efficiency of the government’s use of taxpayer funds while streamlining the departments responsible for spending. Musk said during a town hall meeting on Thursday that the proposed unit could be run like a company, rewarding people who perform well and punishing those who fail to deliver results. Crypto traders’ expectation is that Trump’s victory may trigger more discussion about “Dogecoin”, and if Dogecoin does become part of the government, it will stimulate retail attention and interest in Dogecoin in the future.
Coingecko data shows that the price of DOGE token is currently at $0.1333, with a 24-hour increase of 8.6%.
Radiant Capital: This security breach is extremely complex. The US FBI has fully intervened to actively trace and freeze the stolen assets.
PANews reported on October 18 that the multi-chain lending agreement Radiant Capital issued a document on the Attackers compromised multiple developers’ hardware wallets by injecting a highly advanced malware. The devices were compromised in such a subtle way that the front-end of the Safe wallet (formerly known as Gnosis Safe) displayed legitimate transaction data, while the backend was simultaneously signing and executing tampered transactions. The security breach occurred during the regular multi-signature emissions adjustment process, which is designed to make periodic adjustments based on market conditions and utilization. Throughout the entire process, DAO contributors have always strictly adhered to industry standard operating procedures. They used Tenderly to simulate verification of each transaction, and each signing stage was meticulously reviewed by multiple developers. Neither Tenderly nor Safe’s front-end inspection found any abnormalities. Shockingly, however, the attack went completely unnoticed during Gnosis Safe’s user interface and regular manual review of transactions during Tenderly’s simulation phase. This fact has been confirmed by external security teams including Security Alliance and HypernativeLabs. Faced with this serious challenge, Radiant Capital quickly worked closely with Seal911 and Hypernative and strengthened multi-signature control measures. At the same time, the FBI and zeroShadow also fully intervened to actively trace and freeze stolen assets.
The BNB beacon chain will be officially shut down at 14:00 on November 19th
According to an announcement released on the BNB Chain official blog, BNB Beacon Chain will implement the final “Sunset Hardfork” plan at block height 384,544,850 at 6:00 UTC time on November 19, 2024 (14:00 Beijing time). At that time, BNB Beacon Chain will stop running, and nodes need to be updated to version 0.10.24.
Singapore’s DBS Bank launches “DBS Token Services” to provide blockchain-based banking solutions to institutional customers
According to The Block, Singapore’s largest bank DBS (DBS Bank) has launched a new set of services called “DBS Token Services” to provide institutional customers with blockchain-based banking solutions. The service integrates tokenization and smart contract functions and is combined with DBS’s existing banking services to help enterprises optimize liquidity management and streamline operational processes.
DBS said that the service is based on a permissioned blockchain compatible with the Ethereum Virtual Machine and integrates the core payment engine and multiple industry payment infrastructures. New services include Treasury Tokens, Conditional Payments and Programmable Rewards. Through smart contracts, institutions can manage the use of funds more flexibly.
Eigenlayer’s official X account is suspected of being stolen and fake airdrop links are posted
Polygon Chief Information Security Officer Mudit Gupta said on the X platform that Eigenlayer’s official Twitter account has been hacked. Currently, hackers may be spreading fake links claiming there is a new airdrop campaign. Mudit reminded users not to click on any links and stressed that there are currently no plans for any new airdrops. Users are advised to be vigilant and avoid being deceived.
Financing news
zkPass completed US$12.5 million in Series A financing, with a valuation reaching US$100 million
Privacy protection data verification protocol zkPass completed a $12.5 million Series A round of financing, with a valuation reaching $100 million. Investors in this round include dao5, Animoca Brands, Flow Traders, Amber Group, IOBC Capital, Signum Capital, MH Ventures and WAGMI Ventures. This round of financing was conducted through the Simple Agreement for Future Tokens (SAFT) structure, and zkPass plans to launch the token in the first quarter of next year. zkPass utilizes zero-knowledge proof technology to allow users to verify information, such as identity or financial records, without sharing specific data.
important data
The total net inflow of the U.S. Bitcoin spot ETF yesterday was US$470 million, with net inflows continuing for 5 consecutive days.
PANews reported on October 18 that according to SoSoValue data, the total net inflow of Bitcoin spot ETFs yesterday (October 17, Eastern Time) was US$470 million. Yesterday, the Grayscale ETF GBTC had a single-day net inflow of US$45.7048 million, and the current historical net outflow of GBTC is US$20.096 billion. Grayscale Bitcoin Mini Trust ETF BTC had a single-day net outflow of US$0.00. The current total historical net inflow of Grayscale Bitcoin Mini Trust BTC is US$419 million. The Bitcoin spot ETF with the largest single-day net inflow yesterday was BlackRock ETF IBIT, with a single-day net inflow of US$309 million. The current total historical net inflow of IBIT has reached US$22.770 billion. Followed by Ark Invest and 21Shares’ ETF ARKB, the single-day net inflow was US$100 million. The current total historical net inflow of ARKB has reached US$2.748 billion. As of press time, the total net asset value of Bitcoin spot ETFs is US$64.061 billion, the ETF net asset ratio (market value as a proportion of Bitcoin’s total market value) reaches 4.84%, and the historical cumulative net inflow has reached US$20.664 billion.
Later in the day, BlackRock’s spot Bitcoin ETF has attracted more than $1 billion in funds so far this week.
Trump’s cryptocurrency holdings have increased by $6.1 million this year, and more than 65% of his holdings are Meme coins
Donald Trump’s cryptocurrency holdings have increased by $6.1 million since the beginning of the year, according to Arkham data. More than 65% of his current cryptocurrency holdings are Meme coins.
Polymarket’s official APP ranks first in the “Newspapers and Magazines” category of the U.S. App Store
The official APP of the decentralized prediction market Polymarket currently ranks first in the download rankings of the “Newspapers and Magazines” category (free) in the Apple App Store in the United States. Beyond traditional giants like the New York Times, CNN and the Wall Street Journal. According to The Block, the volume of bets on the 2024 U.S. presidential election on the decentralized prediction platform Polymarket has exceeded $2 billion. The market has added $1 billion in betting volume over the past 24 days, with Donald Trump now at a 62.3% chance of winning and $608 million in betting volume and Kamala Harris at a 37.5% odds of winning and betting volume to $405 million. The U.S. presidential election has become a major growth driver for Polymarket.
Author: PA Daily
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