Headlines
▌The public consultation on Hong Kong’s virtual asset over-the-counter trading service provider licensing regime has ended
The public consultation on Hong Kong’s virtual asset over-the-counter trading service provider (OTC) licensing system has ended, but the system only covers a very small number of currencies such as Bitcoin and Ethereum, causing concerns among some practitioners. In response to this situation, the Hong Kong Virtual Asset Industry Association called on the government to exempt USDT and USDC from restrictions to avoid significant impact on business development. Some practitioners said that reducing the number of tradable currencies may lead to the transfer of business to other regions. In addition, some practitioners expressed concerns about the proposed transfer threshold of 8,000 yuan to strengthen customer due diligence, believing that it may lead to the loss of customers. At the same time, requirements such as appointing a compliance officer and a money laundering reporting officer may impose significant cost pressure on small OTCs. Customs recommends first considering the positioning of OTC in the Hong Kong market before formulating corresponding requirements. The government will consider practitioners' opinions and suggestions as soon as possible and submit relevant drafts to the Legislative Council.
▌Nigeria’s money laundering accusations against Binance have led to investors gradually withdrawing funds
By Uwakwe, who heads the Nigerian inter-community working group composed of the Blockchain Users Group of Nigeria (BNUG), Cryptozoology Development Initiative of Nigeria (CDIN) and Stakeholders of the Blockchain Technology Society of Nigeria (SiBAN), expressed investors’ concerns. Uwakwe said investors are concerned about the potential repercussions similar to Binance’s fate when investing in local Web3 companies. He pointed out that parties that have invested are gradually withdrawing their funds.
Binance executives Tigran Gambaryan and Nadeem Anjarwalla came to Nigeria in February following allegations that the exchange manipulated the country’s fiat currency, the naira. The executives were detained and charged with five borderline money laundering charges following a meeting with the Nigerian government over Binance’s regulatory issues.
Quotes
As of press time, according to Coingecko data:
The recent transaction price of BTC was 65,732.54 US dollars, with intraday increases and decreases+2.7%;
ETH’s recent transaction price was US$3157.17, with intraday changes+4.9%;
BNB’s latest transaction price was US$567.12, intraday Increase or decrease+2.7%;
ORDI's recent transaction price was US$48.00, with an intraday increase or decrease of +2.4% ;
The recent transaction price of DOGE was US$0.1623, with an intraday increase or decrease of +5.3% ;
SOL’s recent transaction price was US$151.35, with an intraday increase or decrease of +9.1 %.
Blockchain Application
▌COSCO Shipping Express issued the first batch of Shuzan Eunuo Zhang Blockchain Electronic Bill of Lading
Recently, COSCO Shipping Express and Suzanno successfully implemented a blockchain electronic bill of lading for Brazil-China pulp import shipping. This is the first electronic bill of lading accepted by Shuzanyunuo, marking a deeper cooperation between the two parties. This success is due to the support of Shanghai Lingang (600848) New Area Port. Shanghai Lingang (600848) New Area has signed a cooperation agreement with Shuzanyunuo to support the exploration of the application of paperless trade scenarios such as electronic bills of lading. The implementation of electronic bills of lading has been highly praised by customers, and the number of electronic bills of lading issued for special shipments of pulp has reached 137,032 billable tons. Teyun has become a member of the Global Shipping Business Network Alliance, and the digital shipping platform is integrated with the blockchain platform to solve the problem of data exchange. Shuzanno is one of the global forestry groups with a large amount of resources. Teyun will continue to promote blockchain electronic bills of lading and achieve win-win results with partners in digital transformation.
Cryptocurrency
▌Crypto airdrops tend to cause controversy in specific communities< /p>
Recently, there have been new trends in crypto airdrops, favoring specific communities and causing controversy. In the past, crypto airdrops were surprise gifts for early adopters, but now more and more projects are choosing to distribute airdrops to specific communities, especially those built around NFT projects. This approach has sparked discussion about the nature of insider gaming, and speculation that insiders benefit from it. Some NFT communities were designated as beneficiaries, sparking controversy about participation and the motivations of insiders to benefit. The move may highlight the social nature of the crypto space, but it may also alienate new entrants. This new trend in crypto airdrops has sparked attention and discussion both inside and outside the industry.
▌Guosen Securities: The launch of Bitcoin spot ETF will push Bitcoin and other crypto assets to Reaching a Larger Funding Area
Guosen Securities (Hong Kong) Research Institute Hui Weizhi pointed out that the launch of Bitcoin spot ETF will promote Bitcoin and other crypto assets to reach a larger funding area, including Larger investor groups such as qualified investors, institutional investors, and retail investors have injected great vitality into the encryption market, brought more liquidity, and accelerated the compliance process of the entire encryption industry. Hong Kong will also strengthen its position as the region's leading digital asset center and support its continued development as Asia's premier ETF market.
▌Liquidations in the Ethereum lending market in April have exceeded Any month since June 2022
According to The Block’s data dashboard, the Ethereum lending market saw more liquidations in the first two weeks of April than it has since June 2022. Any month. The liquidation amount of lending protocol Aave is close to 80 million US dollars, and the liquidation amount of Compound is close to 50 million US dollars, making up the vast majority of liquidations. The last month with significant liquidations was June 2022, a month after the collapse of the $40 billion Terra ecosystem.
▌NFT on Solana chain Total sales reached US$5.377 billion
According to the latest data from CryptoSlam, the total NFT sales on the Solana chain reached US$5,377,114,469, and the NFT transaction volume on the chain was approximately 46,974,855, of which the number of on-chain buyers was 2,788,974 , the number of sellers is 1,819,203. Historical data shows that NFT sales on the Solana chain exceeded US$365 million in December last year, setting the largest single-month record to date.
▌6,716.45 BTC have flowed into exchange wallets in the past 7 days
According to the latest data, 3,123.82 BTC have flowed into exchange wallets in the past 24 hours, and 6,716.45 BTC have flowed into exchange wallets in the past 7 days. From the exchange wallet, 79574.68 BTC have flowed out of the exchange wallet in the past 30 days. As of press time, the total exchange wallet balance is 1,746,053.6 BTC.
Important Economic Trends
▌Extreme positions are difficult to work and you need to be alert to changes in fund turnover rates
In the A-share market, which is the ultimate expression of style, some fund managers perform "tap dance" transactions, and the more they buy and sell, the more "failed" they become; some fund managers' positions are "sitting firmly on the Diaoyutai", but the product performance is still unsatisfactory. After researching and sorting out the data, the reporter found that there is no absolute relationship between turnover rate and product performance. The significance of fund stock swaps lies in whether it makes a positive contribution to the net value of the product. For fund managers, if a turnover rate that is too high or too low cannot produce positive performance in the long term, they need to be reflected on. In addition, since the turnover rate is often linked to the stock trading commissions paid by funds to securities firms, industry insiders remind investors to be cautious about changes in fund turnover rates, which may involve illegal operations by securities firms and fund managers. (China Securities News) (Jinshi Data APP)
Golden Encyclopedia
▌What is censorship resistance in blockchain technology?
The anti-censorship features of blockchain include: decentralization, immutable ledgers, transparency, and encryption. Bitcoin’s decentralized consensus mechanism, anonymity, and decentralized governance enable it to withstand censorship attempts by any centralized authority and maintain the immutability of its transactions. In the Bitcoin network, miners compete to add transactions to the blockchain and verify them by solving difficult mathematical puzzles. Since the network cannot be controlled by a single party, censorship becomes a challenging endeavor. Any attempt to filter transactions would have to overwhelm the total processing power of the network, which becomes increasingly difficult as the network gets larger.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and not as actual investment advice. Please establish a correct investment philosophy and be sure to increase your risk awareness.
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