headlines

Yearn Finance Cuts Administrative Fees for Key Vaults Like ETH

Odaily News Yearn Finance announced the reduction of management fees for key treasury bases such as ETH, USDC, and DAI. Yearn said the expense cuts are part of a long-term product vision to continue building innovative, performance-focused automation products.

Former MicroStrategy CEO Michael Saylor to be indicted for alleged tax evasion

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Odaily News According to Washington, D.C. Attorney General Karl Racine tweeted that he will sue former MicroStrategy CEO Michael Saylor for tax evasion. Karl Racine said Michael Saylor never paid any Washington, D.C. income taxes, accusing the latter of fraud.

1inch will issue a retrospective airdrop of 300,000 OP tokens to 1inch wallet users on the Optimism network

Odaily News According to The Block, DEX aggregator 1inch will issue a retroactive airdrop of 300,000 OP tokens to 1inch wallet users on the Optimism network, which will be distributed equally among all wallets that have traded through the 1inch wallet on the Optimism network These tokens (expected on September 1st).

Industry news

Karl Racine also said he would also sue MicroStrategy for allegedly conspiring to help him evade taxes and that Saylor already owes "hundreds of millions of dollars." Previously, Saylor stepped down as CEO of MicroStrategy earlier this month.

1inch will issue a retrospective airdrop of 300,000 OP tokens to 1inch wallet users on the Optimism network

Odaily News According to The Block, DEX aggregator 1inch will issue a retroactive airdrop of 300,000 OP tokens to 1inch wallet users on the Optimism network, which will be distributed equally among all wallets that have traded through the 1inch wallet on the Optimism network These tokens (expected on September 1st).

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Industry news

Celsius escrow account holders apply to court to withdraw funds from escrow accounts

Odaily News 64 Celsius escrow account holders have filed an application in bankruptcy court asking Celsius to return their funds outside of the proceedings. On Wednesday, the panel petitioned the New York Bankruptcy Court for the Southern District of New York for declaratory judgment ordering Celsius to allow withdrawals from the escrow account.

According to the lawsuit, 64 members of the group hold at least $22.5 million in cryptocurrencies through Celsius’ custodial service. Celsius still owns the same type of cryptocurrency they deposit, and these funds are kept separate from the rest of Celsius' funds. So the company had the ability to allow them to withdraw their funds, it just failed to do so.

Celsius filed for bankruptcy proceedings in July after freezing withdrawals in mid-June. Celsius wants to restructure its business and operate using the revenue generated from the still-under-construction mining operations. (CoinDesk)

Purpose Ether ETF reduced its holdings by about 71,700 ETH in August, the largest monthly reduction in nearly a year

Odaily news data shows that the current Purpose Ether ETF holds a total of 112,500 Ethereum, a decrease of 71,742.17 from the beginning of August, and a monthly reduction of 38.97%, the largest monthly reduction in the past year. During the period, the position of Purpose Bitcoin ETF decreased by 3075 pieces, and the current position is 23710.99 BTC.

Attorney Kyle Roche withdraws from several encryption lawsuits he participated in after Ava Labs-related revelation video storm

Odaily News Kyle Roche, founding partner of Roche Freedman, a well-known law firm, announced his withdrawal from the Tether, Bitfinex, TRON and BitMEX lawsuits on Wednesday after the CryptoLeaks website revealed that the lawyer participated in malicious lawsuits against multiple encryption companies.

According to court records, Roche has filed to retire as an attorney in a lawsuit brought against Tether, Bitfinex, the Tron Foundation and HDR Global Trading (which operates as BitMEX). Roche will "retire as one of the attorneys for the proposed class" and "no longer participate" in his firm's class action practice, Wednesday's motion said. However, Roche has not filed to have his litigating attorney removed in other class action cases filed against Nexo, Dfinity, BAM Trading (operator of Binance.US), Solana Labs, Celsius bankruptcy or Block.one.

Celsius has about 58,300 users with deposits totaling more than $210 million through its custody and withholding, with 15,680 of those customers holding about $44 million worth of "custodial-only assets," the documents show. The Bankruptcy Court for the Southern District of New York, which is overseeing the case, plans to hold a hearing on Oct. 6, 2022, to discuss the matter.

Project News

Earlier news, 64 Celsius escrow account holders filed an application in bankruptcy court, asking Celsius to return their funds outside of the proceedings.

AEX exchange has unlocked the assets that were temporarily frozen due to the adjustment of the account withdrawal mode

Odaily News AEX Exchange announced that it has unlocked all assets that were temporarily frozen due to the adjustment of the account withdrawal mode. Users can view the details of the unlocked assets in the exchange account. The temporarily frozen assets after thawing can be used in some business operations such as spot trading and wealth management. In addition, in order to meet the needs of users to freeze asset transactions, AEX launched the fund account function.

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Project News

Odaily news Aave experimental department Newt announced the launch of Config, a contract parameter visualization tool suitable for any DeFi protocol, so that users do not need to view the parameters of each market separately. Config is the first application Newt built for the Aave protocol. Users can get instructions on how to insert and visualize other DeFi protocol parameters by visiting the relevant GitHub repository.

Synthetix: will suspend most of the functions of the protocol about 3 hours before the merger of Ethereum

Odaily news on September 2, the decentralized synthetic asset protocol Synthetix stated that in preparation for the Ethereum merger event on September 15, Synthetix will reach 58740000000000000000000 when the total terminal difficulty (TTD) is about 3 hours before the Ethereum merger Suspending most functionality, will resume activity after ensuring Chainlink price feeds and other protocols are stable.

SNX tokens will still be transferable during this period, but all other parts of the protocol such as synthetic exchanges, futures, lending, staking (claiming, minting, burning) and bridging will be suspended.

NFT Domain Name Provider UnstoppableDomains Launches Encrypted Email Service

Odaily News NFT domain name provider Unstoppable Domains has launched an encrypted email service, which is established in cooperation with Web3 collaborative work application Skiff Mail. Domain names registered through Unstoppable Domains can use @ud.me email addresses to send end-to-end encrypted emails. Users of Unstoppable Domains have the option to link their domain name to an existing personal email account, or create a new email account at Skiff. (Decrypt)

SNX tokens will still be transferable during this period, but all other parts of the protocol such as synthetic exchanges, futures, lending, staking (claiming, minting, burning) and bridging will be suspended.

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dYdX distributes bonuses to users, and the recipients need to turn on the camera for real-life verification

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Metaverse GameFi and NFT

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Data: 13,891 Proof of Stake NFTs have been minted, ranking first in 24-hour NFT minting

According to Odaily news, according to the OKLink multi-chain browser data of OKLink, 13,891 NFT Proof of Stakes have been minted to commemorate V God’s new book donation, ranking first in the 24-hour NFT casting ranking. At the same time, the 24-hour NFT casting consumes 106.87 ETH in gas fees, ranking third in consumption.

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According to the official blog of Ethereum infrastructure development company ConsenSys, to celebrate the historical moment of Ethereum merger, the world will be invited to participate in the first batch of sustainable NFTs on the Ethereum mainnet. ConsenSys commissioned a series of NFT illustrations embodying the sustainability, security, and scalability of Merge. The series is called Regenesis and there are different versions.

Investment and Financing

It is reported that the minting of this series of NFTs will start on the day of the merger of Ethereum and will be open to everyone.

ALTAVA, the fashion metaverse platform, and Elite Apes, the largest IP holder of BAYC, reached a cooperation to launch BAGC (KR) NFT

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Cybersecurity firm Silence Laboratories closes $1.7 million funding round led by Pi Ventures

Investment and Financing

iCover completes US$5 million Pre-A round of financing, Kesan Parasuraman participated in the investment

Odaily News Network security company Silence Laboratories completed US$1.7 million in financing, led by Pi Ventures, imToken Ventures and others participated in the investment, individual investors include Daniel Ari Friedman, digital asset security custody wallet company Liminal founder Mahin Gupta, CK Vishwakarma, Ashish Tiwari.

It is reported that Solid's fintech-as-a-service platform provides developers with a modern operating interface and experience, making it easy to embed fintech products. Arjun Thyagarajan, the company's CEO, said that Solid is responsible for building and maintaining compliant fintech infrastructure. , allowing any company to quickly launch services such as bank accounts, encrypted wallets, sending payments to end users, and issuing cards within its product experience. (Fintech Finance News)

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Solid Completes $63 Million Series B Financing Led by FTV Capital

Odaily News FinTech-as-a-service platform Solid announced the completion of Series B financing of US$63 million, led by FTV Capital and participated by Headline and others.

global policy

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California Crypto Oversight Bill Approved by Congress, Requiring Special Licenses for Crypto Firms

Odaily News A cryptocurrency supervision-related bill in California, the "Digital Financial Assets Law" (Digital Financial Assets Law) was approved by the state legislature and has now been sent to Governor Gavin Newsom's office. He needs to sign or veto it before September 30. the bill.

The bill, which will take effect in January 2025, requires encrypted financial services businesses such as cryptocurrency trading platforms to obtain special licenses. If signed into law, it would introduce stricter crypto regulations and more oversight of the crypto industry in California. (Bloomberg)

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Zhang Ping, academician of the Chinese Academy of Engineering: To build the core technology and standard system of the Chinese version of Web3.0 metaverse

Odaily News At the 2022 WAIC Metaverse sub-forum held by Baidu, Zhang Ping, an academician of the Chinese Academy of Engineering, said that the Metaverse involves the country’s core interests such as politics, economy, society, culture, law, ideology, and network sovereignty. The core technology and standard system of the "licensed Web3.0" metaverse of "protocol + trusted communication hardware" and the establishment of an on-chain payment system anchored by digital renminbi are the key to realizing my country's political security, economic security, cultural security, and cyberspace security. key to safety. Zhang Ping also pointed out that my country must take the initiative to carry out research on the key core technologies of the Metaverse infrastructure, so as to avoid a situation where my country becomes the world's largest data producer in the Metaverse, while the United States dominates the global Metaverse technical standards and rules. ("Science and Technology Innovation Board Daily")

Indonesian Deputy Trade Minister: The Indonesian government will launch a crypto exchange by the end of 2022