Top10 News

1. Hong Kong’s weekly summary

a. SFC consults on proposals to regulate virtual asset trading platforms link

The Hong Kong SFC is consulting on whether to open retail investors to invest in crypto. In addition, before June 1, any operating crypto trading platform must be licensed, unlicensed transactions need to terminate their Hong Kong business.

b. Paul Chan: I will allocate $50 million to expedite the Web3 ecosystem development link

When the Hong Kong government released the 23–24 budget speech, it stated that it will allocate 50 million HKD to expedite the Web3 ecosystem development, must keep up with the times and seize this golden opportunity of Web3.

2. Alchemy Pay’s weekly summary

a. Alchemy Pay announces support for Google Paylink

Alchemy Pay’s on-ramp now supports Google Pay to allow users to purchase crypto using their fiat currency funds. Alchemy Pay currently supports Google Pay in the following currencies: USD, EUR, KRW, SGD, AUD, TWD, TRY, CAD, JPY, AED , NZD, HKD.

b. Binance Futures will launch USDⓈ-M ACH perpetual contracts link

Binance Futures will launch USDⓈ-M ACH perpetual contracts on 2023–02–22 14:30 (UTC) with up to 20x leverage. ACH is the native token of Alchemy Pay.

3. NBA Top Shot Moments NFTs are securities, federal judge rules link

NBA Top Shot Moments NFTs meet the requirements to be considered a security, a federal judge said, but it may not apply to other NFTs. The judge cited the company’s control over Top Shots after they are sold, as well as specific tweets promoting the NFTs in his court filing that used emojis to suggest the assets would gain value.

4. MEXC’s weekly summary

a. MEXC announced its asset reserve and wallet address link

After Wu Blockchain reported that the proof of MEXC’s reserves had not been made public, the MEXC announced its asset reserve and wallet address on the second day, showing that the current wallet contains 280m USDT, 79.36m USDC, 2117 BTC, and 13785 ETH, with reserve ratios of 120.70% and 240.18 %, 116.50%, 110.53%. Funding snapshot time is February 10th.

b. Analyst considers MEXC and Bitget official API trading data suspicious link

According to @VetleLunde’s research, MEXC and Bitget’s Daily Volume relative to Proof of Reserves and Ol relative to POR (Exchange token removed) are obviously abnormal, and may be suspected of fraud.

5. Polygon Labs reduced the team by 20% link

Polygon Labs reduced the team by 20% impacting multiple teams and about 100 positions. Impacted employees will each receive three months of severance pay.

6. Bitcoin Core’s weekly summary

a. Bitcoin Core developer Wladimir van der Laan has resigned this Thursday link

Wladimir van der Laan’s access to Bitcoin Core’s GitHub repository was finally taken away on Thursday, at his own request. Bitcoin Core has five maintainers now, after a sixth long-serving maintainer stepped down Thursday morning.

b. Bitcoin Core developer Marco Falke will resign this summer link

Another Bitcoin Core developer Marco Falke said in a tweet released on February 21 that he will resign this summer. He was one of the most active bitcoin contributors within seven years. In the past 18 months, 4 Bitcoin Core maintainers have resigned.

7. Ankr’s weekly summary

a. Ankr and Microsoft partner to offer enterprise node services link

The partnership will see an integration of technology from both companies, pairing Ankr’s innovations in blockchain infrastructure with Microsoft’s cloud solutions.

b. Tencent Cloud partners with Ankr, Avalanche, Scroll, Sui link

Tencent Cloud, the cloud service business of China’s largest Internet company, announced its full entry into Web3, announced cooperation with Ankr, Avalanche, Scroll, and Sui, and released a new Tencent Cloud Metaverse-in-a-Box product.

8. Coinbase reports net income of $605m and an operating loss of $555m in Q4 link

Coinbase’s fourth quarter 2022 financial report shows net income of $605 million, and net loss of $555 million, full-year revenue of $3.1 billion, down 57% from 2021, Coinbase holds approximately $4.425 billion in cash and cash equivalents.

9. Binance’s weekly summary

a. Binance will burn 2 billion Binance-Peg BUSD on BNBChain link

Binance announced that it will burn 2 billion Binance-Peg BUSD on BNBChain on Feb 22, and the BUSD on Ethereum as collateral will be released. Etherscan shows that the total amount of BUSD has dropped from the previous 16.1b to the current 12.3b.

b. Voyager’s Binance US sale plan ‘full steam ahead,’ counsel says link

Plans to wind up Voyager Digital by selling assets to Binance US are “on track,” an attorney for the bankrupt crypto lender told a New York court on Wednesday. Lawyers for Voyager said 97% of votes so far have been in favor of the plan with hours left to go in the voting process.

c. SEC, NYDFS and others file documents opposing Binance’s acquisition of Voyager link

Binance US’ $1.02 billion acquisition of the assets of defunct cryptocurrency lender Voyager has been opposed by the U.S. SEC. The deal was also opposed by NYDFS and Attorney General Letitia James in two Feb. 22 filings. SEC cited media reports that Binance is bracing itself to pay penalties for past infractions of money laundering and corruption law as evidence that the deal could become “unfeasible” and “impossible to consummate.”

d. Binance closes some Australian users’ derivatives accounts as they are misclassified link

Binance said that the team identified a small number of Australian users who were incorrectly classed as ‘Wholesale Investors’ on Binance. As per Australian regulation, they were required to inform these users and close any of their own derivative positions with immediate effect. They have already contacted all impacted users and will fully compensate them for their losses incurred while trading derivatives on Binance.

10. SBF faces new criminal charges including conspiracy to commit bank fraud link

FTX founder SBF is facing new criminal charges after a judge unsealed a new 12-count indictment against him. The new indictment charges him with conspiracy to commit bank fraud and defraud the Federal Election Commission, among other crimes.

Fundraising

• Zero-knowledge (ZK) hardware startup Cysic closed a $6 million seed round led by Polychain Capital

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• Phi announced the completion of $2 million seed round financing, led by Chapter One and Delphi Digital link

• ZK dark pool startup Renegade breaks cover with $3.4 million from Dragonfly, Naval Ravikant link

• Blockchain risk analytics firm Chaos Labs announced that it’s received $20 million in seed funding in a round led by PayPal Ventures and Galaxy Digital link

• Web3 infrastructure startup Polyhedra Network raised $10 million in a round co-led by Binance Labs and Polychain Capital link

• Azra Games announced it has raised $10 million in additional seed funding link

• Kaito AI, an AI-powered search engine for crypto, raised $5.3 million in a round led by Dragonfly Capital link

• Solana-based platform TipLink raised $6 million in seed funding co-led by Sequoia Capital and Multicoin Capital link

• Kratos Studios raised $20 million in seed funding at a valuation of $150 million link

• OneKey announced the completion of Series A+ funding at a valuation of $ 85 million, led by IOSG Ventures link

• Here Not There has raised $25 million in a Series A round led by a16z link

• Web3 MMORPG game Worldwide Webb raised a $10 million Series A with Pantera Capital as its only investor link

• DeFi project Huma Finance announceed $8.3m seed funding round led by Race Capital and Distributed Global link

Learn more, check out crypto-fundraising.info.

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