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Industry News
NEWS
01 SBI Wallet integrates Securitize digital securities platform
On December 18, SBI Digital, the digital asset management division of SBI Group, and Securitize Japan Co. announced a partnership to integrate Securitize’s digital securities issuance and management platform with SBI’s investor wallet and custody solution sbiwallet. Securitize’s Japanese branch stated that the integration will enable users of “two-way wallets” to sell, issue and manage tokenized securities directly in the app.
02Ant Castle officially launched one-stop service for mining machine trading and hosting
According to official sources, Ant Castle, a product of Bitmain, will officially launch a one-stop service for mining machine buying and selling and hosting. In the same period, a limited-time joint mining group activity will be launched on December 19th. This event has three major advantages: group joining enjoys lower mining machine prices; one unit is sold and managed; high-quality mine resources can better solve the problems of high mining costs and high risks for small and medium-sized miners.
03U.S. Financial Crime Enforcement Network Hiring Policy Advisor to Deal with Cryptocurrency
The Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury will recruit two policy officers to help draft regulations in the cryptocurrency field. In the recruitment announcement on December 11, it was disclosed that these policy officials will “assist in formulating policy responses” to deal with the “threat” posed by cryptocurrency, issue recommendations to financial institutions, and discuss cryptocurrency issues between the government and the private sector. Policy cooperation. These two top-secret jobs are permanent full-time positions. Given that candidates have experience requirements for drafting, formulating strategies and researching encryption policies, it can be said with certainty that FinCEN is only interested in subject matter experts.
04 Payment processor Visa research report proposes offline central bank digital currency payment solution
Visa, the world’s largest payment processor, recently proposed an offline payment system for central bank digital currency (CBDC) in a new research report. The study recognized the benefits of CBDC, but at the same time stated that when CBDC is finally available, it should be able to be used without an Internet connection. The research report mentioned: “Recipients can submit signed offline payment information to authorized wallet providers and guarantee the settlement of these transactions to withdraw funds from offline payment systems.” The proposal outlines the protocols that can be developed in the future. But the code for this idea has not been written yet. Visa stated that one of the main reasons central banks are exploring digital currencies is because it will help individuals without bank accounts connect with a “vibrant ecosystem of financial technology and other financial products.”
05 Cash APP cooperated with rapper Megan Thee Stallion to launch a $1 million bitcoin gift event
On December 18th, the American financial services company Square launched Cash APP, an application that supports Bitcoin payments, and Grammy-nominated rapper Megan Thee Stallion launched a gift of USD 1 million worth of Bitcoin. Megan announced the event on Twitter on December 17. As of press time, this tweet has received more than 60,000 likes and 8,800 reposts. The rapper encouraged her fans to post “#BITCOINMEG” to participate in the gifting event. The tweet did not specify how many bitcoins each person will receive, and screenshots of many of the winners’ replies show that each of them received 50,000 satoshis (worth about $11.40).
06 The U.S. Treasury Department is about to introduce new self-custodial crypto wallet transaction reporting rules
On December 18, the U.S. Treasury Department is about to propose a new transaction reporting rule for money service companies that interact with self-hosted crypto wallets. The source said that the actual content has not been finalized and may change. The rule may take the form of a proposed rulemaking notice or a provisional final rule, and it may be announced as early as December 18. There will be a public comment period after the rules are released. According to regulations, if customers conduct cryptocurrency transactions in or from a self-hosted wallet involved in their services, and the transaction amount exceeds an unknown threshold, money service companies will need to submit a currency transaction report (CTR). According to the Financial Crimes Enforcement Network (FinCEN), regulated financial institutions must report “currency transactions conducted by or on behalf of one person, and multiple currency transactions that have accumulated more than $10,000 in a single day.”
07Curve, a stablecoin exchange platform, adds support for the Bitcoin anchor coin oBTC
According to official news, the stablecoin exchange platform Curve.Finance announced the launch of oBTC Metapool. Users can exchange oBTC with other Bitcoin-anchored coins with low slippage on the Curve platform, and can also provide liquidity in this trading pool. In this way, you can get commission rewards and CRV and BOR dual token rewards.
08 Crypto.com began issuing Crypto.com Visa cards in Canada
On December 18, cryptocurrency debit card company Crypto.com announced that it has officially started issuing Crypto.com Visa cards to Canadian users. According to Crypto.com, this type of card is a high-end metal prepaid card with features such as no annual or monthly fees, ATM withdrawal fees, foreign transaction fees, and contactless payment. In addition, all Crypto.com Visa card transactions are denominated in legal tender.
09Lido, the Ethereum 2.0 pledge liquidity solution, launched the governance tool Lido DAO
On December 18th, Lido, the Ethereum 2.0 pledged liquidity solution, announced that it has successfully deployed Lido DAO. Lido DAO is officially launched. Yearn.finance (YFI) core developer banteg has initiated the first vote through this governance forum. Lido launched the testnet on November 26. Lido allows users to participate in ETH2.0 pledge with any amount of Ethereum to provide liquidity. When users use Lido to pledge ETH on the Ethereum beacon chain, users will receive bETH Token, which represents ETH on the Ethereum beacon chain in a 1:1 manner. As the ETH pledged by users gains income in ETH2.0, the ETH balance on the beacon chain will increase accordingly. Because bETH is DeFi compatible, it can also be used as collateral for on-chain loans.
10 DeFi agreement Warp Finance suffered lightning loan attack, about 8 million US dollars stolen
DeFi portal DefiPrime said on Twitter that at 06:34 on December 18th, Beijing time, Warp Finance, a liquid LP token mortgage loan DeFi protocol, suffered a lightning loan attack and about 8 million US dollars were stolen. In addition, Warp Finance officials also tweeted that they are investigating illegal stablecoin loans that were lent in the last hour, and recommend not to deposit stablecoins until the official finds out the violation. In response to this attack, Emiliano Bonassi, a white-hat hacker and Marqet exchange co-founder, said: “This is the second attack using multiple lightning liquidity to conduct lightning swaps through Uniswap and lightning loans through dYdX.” He added Said that the attacker provided three packaged ETH loans to three different pools on Uniswap through lightning exchange, and provided another two packaged ETH loans to the dYdX trading platform. These funds were then used to mint WETH/DAI Liquidity Pool (LP) tokens, which were used as collateral for Warp Finance to liquidate its USDC and DAI vaults.
11 The UK FCA is now only registered through 4 encryption companies, and more than 100 registration applications have been notified that the evaluation cannot be completed on time
On December 18, the British Financial Market Conduct Authority (FCA) announced that after January 10, 2021, unregistered companies are not allowed to engage in “cryptocurrency asset activities” in the UK. However, less than a month before that date, FCA’s website only lists four registered companies, two of which are subsidiaries of Gemini. There were no new registration cases in the past three months. On December 16, the FCA expressed concessions by sending an email to more than 100 unregistered applicant companies, stating that it “may not be able to complete the evaluation before January 9.” FCA emphasized in the email that their application It has not been processed and has not been evaluated as “suitable”. FCA has made concessions so late, which has raised concerns that a large number of companies will have to temporarily stop trading in January. This forces companies to accept unnecessary expenditures to prepare to protect them from losses.
Primary market
NEWS
01 Safello completed $1.3 million in financing and plans to conduct an IPO in the first half of 2021
European Bitcoin exchange Safello said it has completed 11 million Swedish kronor (approximately 1.3 million U.S. dollars) financing to pay for its planned listing on the Nasdaq First Northern Growth Market in the first half of 2021. The financing was led by CoinDesk’s parent company, Digital Currency Group, and venture capital firms Northzone, White Star Capital and Techstars also participated.
02 Star Pique invests US$4.3 million in Sorare, a digital football NFT collection platform
On December 18, the digital football NFT collection platform Sorare announced that Barcelona Football Club star Gerard Pique invested US$4.3 million in the platform, bringing the total seed round of Sorare financing to US$9 million. Pique will also join as a strategic consultant Sorare.
03 Omni Futures will launch Omni II to open Series A financing
The cryptocurrency service platform Omni Futures will launch a new project, Omni II, to open a round of financing. It is reported that Omni II will be used to develop the infrastructure of the encrypted mining industry. Ali Farhat, general manager of Omni Futures, stated that “The demand for Omni II comes from the market’s interest in new proprietary mining technologies.”
04Union.finance, a lending platform, received a US$3 million investment
According to official sources, Union.finance, an Ethereum-based lending platform, received a US$3 million investment. Investors include Placeholder, 1kx, CoinFund, Distributed Global, Spartan Group, Variant, KR1, Scalar, Defiance and Infinite Capital.
05Australian DeFi startup Maple Finance completes $1.3 million seed round financing
Maple Finance, an Australian DeFi start-up company, targets companies with a good track record in the crypto field, such as trading funds, market makers, and crypto mining companies that want to expand their business. Generally speaking, a typical loan in DeFi requires a large amount of over-collateralization, and users need to constantly check to ensure that their mortgage amount is sufficient as market conditions change. Maple will provide qualified companies with a single interest rate during the loan period, which can be as low as 40% of the loan value as collateral, and the initial mortgage deposit does not need to be recalculated. Maple can also provide more favorable terms based on the creditworthiness of the borrower, and will only provide quotations to institutional customers. It is reported that the company has completed a $1.3 million seed round of financing with its MPL governance token. Participants include Framework Ventures, FTX, Aave founder Stani Kulechov, Synthetix founder Kain Warwick, FBG, The LAO, etc. The total supply of MPL tokens will be fixed at 10 million, of which about 30% will be used for liquid mining.
Secondary market
NEWS
01 Grayscale Managing Director: Split the issuance of the Ethereum Trust Fund
On December 18, Michael Sonnenshein, the managing director of Grayscale, issued a tweet reminding that the issuance of the Ethereum Trust Fund ETHE would be split 9 to 1 on the 18th. This will provide each shareholder with more ETH-based shares. According to previous news, after the share split, the holders registered on December 14, 2020 will receive an additional 8 shares for each share they hold.
02Foreign media: Coinbase UK is not included in the list of new cryptocurrency companies operating in the UK
According to the news of The Block on December 18, Coinbase is currently not included in the list of new cryptocurrency companies approved to operate in the UK, and the exchange has recently transferred all UK and European customers to its Irish station. A Coinbase spokesperson declined to comment on whether its UK site will be closed. According to previous news, after January 10, 2021, encryption companies will not be able to operate in the UK if they are not registered with the UK Financial Conduct Authority (FCA).
03 Lawyer: Coinbase is listed or enables the SEC to decide which tokens can be listed on the exchange
Gabriel Shapiro, a lawyer at Belcher, Smolen & Van Loo LLP, said that the listing of Coinbase may enable the SEC to decide which exchanges can list which tokens. He explained that there are few federal laws on corporate governance. What shareholders approve and what the company’s board of directors can approve is usually defined by state law. However, the SEC has been using its power to approve registration statements in an attempt to enforce its wishes against entities. A similar situation may happen to cryptocurrency companies trying to list on the SEC. For example, the SEC can say that crypto trading platforms need clearer procedures to list or distribute different cryptocurrencies. The SEC may even require the exchange to delist certain tokens in this way, and then consider the filing document S-1 form valid (to approve the company’s IPO). Earlier news, Coinbase, the largest cryptocurrency exchange in the United States, has submitted an IPO application to the United States Securities and Exchange Commission (SEC).
04 OKEx Research Institute Robbie: Institutional investors including GBTC have become the biggest promoters of this bull market
On December 18th, OKEx Research Institute Robbie stated that the arrival of the 20,000 US dollar mark is obviously different from the 17-18 bull market. This rise is a steady rise, rather than the parabola in the very short period of the last bull market. rise. The reason behind this is the admission of institutions. In the Chinese market, USDT’s over-the-counter transaction premium is also an indicator during the 2017-2018 bull market, and this indicator is also difficult to see in 2020, which also confirms to a greater extent institutional investors including GBTC Become the biggest promoter of this round of bull market, GBTC will often become the target with the largest transaction volume in the US OTC market in 2020. In addition, the entry of foreign Fintech platforms into the cryptocurrency market is also a major benefit. The most popular platforms including Square, PayPal, Robinhood, etc. currently support the purchase of Bitcoin, and the convenience of purchase will greatly promote Bitcoin. Another major macro factor is the release of water from the Federal Reserve, which everyone has mentioned.
05 Messari Researcher: Coinbase IPO valuation may reach 28 billion US dollars
Mira Christanto, a researcher at Messari Crypto, has thoroughly studied some of Coinbase’s business and transaction data and concluded that the company’s potential valuation is 28 billion US dollars. The researchers added that the model used in the evaluation was used to derive the valuation split of Coinbase’s business units through transaction fees, custody fees, debit cards, and other criteria. Transaction volume mainly comes from institutional clients, but each client’s holdings averaged $703. According to data from Tradingview, the amount of Coinbase’s crypto custody has grown from USD 7 billion in 2019 to USD 20 billion in 2020, accounting for 3.12% of the entire cryptocurrency market value. Earlier news, Coinbase announced that it has submitted a draft S-1 registration statement to the US Securities and Exchange Commission (SEC) to apply for an IPO. The S-1 form is expected to take effect after the SEC completes the review process, and it depends on market and other conditions.
06 Wanhui Dovey: In order to catch the short copycat season, it is a disaster to emptied the “big pie”
Wan Hui Dovey, founder of Primitive Ventures, said on Weibo that funding rotation and hotspot switching will inevitably happen, but the big pie has a steady stream of off-market funds to raise the lower limit, and copycats are on-site funding rotations. . It is actually more difficult to catch the short copy season. In order to catch the short copy season and emptied the beta of the pie, it would be a disaster from the perspective of position management. A lot of irrationality stems from ignoring or distrusting statistics.
07 DappRadar report: DeFi boom drives DApp transaction volume to rise by over 1100% in 2020
The latest report released by DappRadar shows that by 2020, the transaction volume of DApp has exceeded $270 billion, of which 95% belong to the DeFi ecosystem of Ethereum. This is an increase of 1178% from last year’s total of 21 billion US dollars. The report pointed out that funds flowed from BTC to ETH throughout the year, causing the price of ETH to rise from 0.018 BTC on January 1, 2020 to the current price of 0.028 BTC. DappRadar speculates that DeFi’s attractive yield is “the main incentive for Bitcoin to flow to Ethereum”. WBTC and renBTC have played a key role in using Bitcoin’s huge liquidity reserves to fund DApps. The report described 2020 as “a year when DApps tried to grow at all costs.” The report found that only 10 DeFi DApps accounted for 87% of Ethereum’s total transaction volume. The report pointed out that the limitations of Ethereum became obvious this year, because the Ethereum network “actually encountered a bottleneck in scalability”, and the average Gas price was several times higher than last year.
08 Securities Daily: When Bitcoin exceeded $20,000, the influx of a large number of retail investors caused many trading platforms to be stuck or down
The Securities Daily issued an article in the early morning of December 18: “In the eyes of blockchain media, $20,000 is an expected price. As early as last month, when Bitcoin was $19,000, it was ready to welcome this moment. On the other end, Bitcoin $20,000 has stimulated a large number of individual investors to enter the encrypted digital currency market. The reporter learned that a number of encrypted digital currency trading platforms have experienced stagnation or downtime. This wave is driven by institutional funds. The rising trend is quietly changing. Individual investors continue to increase their bargaining chips and the market continues to rise.
