Author：Lily

Editor：Colin Wu

1. Huobi’s weekly summary

1.1 Exclusive: The real acquirer of Huobi Global is still Justin SunLink

Multiple informed sources told Wu that Justin Sun is actually the core funder of About Capital Management’s M&A fund. Sun, as the financier behind it, indirectly acquired Huobi Global through About Capital Management, with a purchase price of over $1 billion.

On the morning of Oct. 10, the personal URL in Sun’s official Twitte r Bio was changed to huobi.com; in the afternoon, Sun delivered a speech to all the employees of Huobi, saying that his core work is to empower HT.

1.2 Huobi Global will delist 21 HUSD-related trading pairs on Oct 10 Link

Huobi Global will be delisting 21 HUSD-related pairs, including USDC/HUSD, BTC/HUSD, ETH/HUSD, HT/HUSD, etc., at 13:00 (UTC) on Oct 10, 2022.

1.3 Justin Sun: Huobi Global is potentially willing to expand its business in China Link

Justin Sun isn’t ruling out the possibility of one day bringing Hong Kong-based crypto exchange Huobi Global back to mainland China. According to CoinDesk TV’s interview with Sun, this hypothetical situation will depend on the Chinese government changing its stance on cryptocurrencies, and would require “thorough due diligence of the exchange.”

But in order for Huobi to compete on a global scale, Sun said the exchange needs traction on its U.S. dollar-backed stablecoin, HUSD. Sun said one of his focus areas will be making USDD, the algorithmic stablecoin he created, one of the “settlement stablecoins” on Huobi.

1.4 Huobi Global will list BXEN (XEN Crypto) on October 13, 2022 Link

Huobi Global is scheduled to list BXEN (XEN Crypto) on October 13, 2022. BXEN deposits will open at 08:30 (UTC) on Oct 12. The BXEN spot trading (BXEN/USDT) will open when the deposit volume meets the demand of market trading.

1.5 Li Lin personally sent bonuses to all Huobi employees Link

Background: In the early hours of Oct. 8, Li Lin completed the delivery of the sale of his shares in Huobi Global.

News：Huobi founder Li Lin sent bonuses worth one month’s salary to all Huobi employees through his personal finance on Oct. 12, totaling more than 100 million RMB.

1.6 74 million HT suspected to have been transferred to Justin Sun’s addresses Link

Justin Sun told Bloomberg that he already holds tens of millions of HT (Huobi Token). HT is up 86% in the last seven days. It is possible that Justin Sun obtained the HT held by Huobi while acquiring Huobi. He added that he would combine huobi’s Heco (similar to BNBChian) with TRON and BTTC, and would deploy a lot of capital to encourage Heco developers to jointly develop in the TRON and BTTC ecosystems.

2. Do Kwon’s passport will expire after Oct. 19 Link

Background: The warrant for Do Kwon’s arrest was issued by the South Korean prosecution in September, and Interpol also has issued a red notice for him.

News：According to News1, Do Kwon’s passport return order was released on Oct. 5, and his passport will expire after Oct. 19, making him an illegal alien who can then be deported by the Singaporean government.

3. Blockchain.com gets licence from Singapore’s central bank Link

Blockchain.com, a cryptocurrency exchange backed by investors including Lightspeed Venture Partners, said on Wednesday it had received approval from Singapore’s central bank to offer payment services in the city-state. The announcement came a day after crypto giant, Coinbase, said it had also received the same approval.

4. Strategist at Southeast Asia’s largest bank DBS says Bitcoin is unique regardless of price Link

Daryl Ho, an investment strategist at Southeast Asia’s largest bank DBS Bank, said of Bitcoin, “I think bitcoin is still unique whether the price changes or not.” Daryl Ho believes that Bitcoin’s uniqueness is driven by its utility, which allows for value transfer in a decentralized manner without the need for a central counterparty to clear transactions.

5. Funding in Indian startups shrinks by more than half Link

Indian startups raised $3 billion in the quarter that ended in September, down 57% from the previous quarter and 80% year-over-year, market intelligence platform Tracxn said in a report Tuesday. Second, the funding crunch appears to be more acute in India. Globally, funding was down 53% year-on-year and 33% quarter-on-quarter, according to data compiled by Crunchbase.

6. Firozabad Police in Uttar Pradesh, India, are using Polygon blockchain on protocol to fight local police corruption and crime Link

Polygon co-founder Sandeep Nailwal announced in a tweet that Firozabad police in the Indian state of Uttar Pradesh are using the Polygon on-blockchain protocol to combat local police corruption and crime. The portal, called FIR (first information report), allows crime victims to register complaints against the local police without being dismissed or manipulated by potentially corrupt officials.

7. India aims to develop crypto SOPs during G20 presidency, says finance minister Link

The finance minister of India, Nirmala Sitharaman, revealed India’s plan to develop standard operating procedures (SOPs) for cryptocurrencies during its G20 presidency, from Dec. 1, 2022, to Nov. 30, 2023. Speaking to local Indian reporters on Oct. 15, she confirmed, “That (crypto) will also be part of India’s thing (agenda during G20 presidency).”

8. Web3 developer platform SettleMint raises €16 million as it expands to Japan Link

Low-code blockchain platform SettleMint has raised a €16 million Series A round led by Molten Ventures and OTB Ventures. It seeks to use the funding to solidify its India, Singapore and EMEA operations and establish a base in Japan. By offering a low-code solution, the startup allows developers with scant knowledge of blockchain to build web3 applications.

9. Amber Group launches Amber Labs and Amber Eco Fund Link

Amber Group, a digital asset company headquartered in Singapore, announced the launch of Amber Labs and Amber Eco Fund. Amber Eco Fund is the first actively managed equity investment product offered by Amber Labs to investors, anchored by a sovereign wealth fund and notable family offices in APAC. The program focuses primarily on providing seed investments in early-stage companies, spanning key industry verticals that include Web3 infrastructure, and applications such as DeFi, blockchain games and decentralized social networks, among others.

10. Tianjin has implemented a differential tariff for electricity used for crypto mining, with a rate increase of 0.5 yuan per kWh Link

China’s Tianjin Municipal Development and Reform Commission issued an announcement to implement a differential tariff for electricity used for virtual currency “mining”, with a rate increase of 0.5 yuan per kilowatt hour. If it is not possible to distinguish, the entire electricity will be subject to the differential tariff policy. Previously, Guizhou, Shaanxi, Sichuan and other places have also issued notices of similar differential tariffs.

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