【Link to FM】Ethereum public test network Ropsten will carry out PoS merger in early June, and Binance is exploring to expand its business to India

【Data Intelligence】

The Feminist Metaverse project was attacked, the attacker has transferred 1838BNB to tornado.cash

According to the security public opinion monitoring data of Chengdu Lianan’s “Chain Bing-Blockchain Security Situation Awareness Platform”, the Feminist Metaverse (FM_Token) project on BNB Chain was attacked. Attacker address: 0xaaA1634D669dd8aa275BAD6FdF19c7E3B2f1eF50 Attack transaction bsc: 0xfdc90e060004dd902204673831dce466dcf7e8519a79ccf76b90cd6c1c8b320d 38BNB transferred to tornado.cash, about $540,000.

Encryption startup KaJ Labs completes $400 million seed round, led by GEM Digital

According to news on May 18, the encryption start-up company KaJ Labs raised US$400 million through the sale of LITHO Token, creating the second largest seed round of financing in the world so far in 2022. Investors in this financing transaction include Global Emerging Markets (GEM) Digital, Four Digital, and a group of individual investors, among which GEM Digital is a $5 billion alternative investment group headquartered in the Bahamas. Lithosphere, the blockchain platform of KaJ Labs, is the first blockchain that uses embedded deep neural networks to make smart contracts smart, and supports cross-chain network operations. This interoperability enables multiple way of transferring value, thereby eliminating many of the problems inherent in existing blockchain networks.

【 Regulatory News 】

Biden Administration Wants Crypto Exchanges to Build Funding Firewalls

According to news on May 19, according to people familiar with the matter, the Biden administration is pushing legislation to segregate customer funds from those of cryptocurrency exchanges to ensure that these funds can be safe in the event of problems with the exchange, which may limit the industry's ability to trade. Mode of operation. This type of custody rule is standard for financial institutions such as futures firms, but cryptocurrency exchanges often commingle their funds with assets held by customers, and the government wants legislation to end that. It has been revealed that federal officials will push the rule in the coming weeks for inclusion in any related crypto bills considered by Congress, building on an argument in last year's Financial Markets Task Force report on stablecoins that companies hosting cryptocurrency wallets would need to Close monitoring by the federal government.

South Korea May Propose Bill to Punish Cryptocurrency Manipulators

South Korea may introduce a bill to punish those who make unfair profits from cryptocurrency trading through pumping up prices, insider trading or fake orders. South Korea’s Financial Services Commission (FSC) prepared the study after the South Korean parliament asked for a study on cryptocurrency regulation. The regulations proposed by the FSC will be stricter than capital market regulations. According to the proposal, civil and administrative penalties such as fines and liability for compensation will be imposed on those who obtain benefits improperly, as well as criminal penalties such as imprisonment. It is reported that the South Korean parliament and government will discuss details during the legislative process.

【Industry Trends】

Terraform Labs owes South Korean government $78.5 million in taxes

Watcher.Guru tweeted that Terraform Labs owes the South Korean government $78.5 million in taxes.

Former BitMEX CEO Arthur Hayes to Sentence This Friday

Former BitMEX CEO Arthur Hayes will be sentenced this Friday afterpleading guilty to violating the U.S. Bank Secrecy Act (BSA). While Hayes could face up to five years in prison, BSA violations leading to jail time are uncommon.

Coinbase will open Flow (FLOW) trading

According to official news, Coinbase will add support for Flow (FLOW). If the liquidity conditions are met, the transaction will open on or after 09:00 PT on May 19. Supported trading pairs will include FLOW-USD, FLOW-USDT.

Binance is exploring expansion into India

On May 19th, a spokesperson for Binance stated in an email that the company is exploring expanding its business to India and is actively trying to "find the ideal location for local business in India." The spokesperson said, “We are monitoring changes in the local regulatory environment, and we are also negotiating with different stakeholders to understand the market approach in the South Asian market in a compliant manner.” Hiring in India and South Asia for APAC Head of Government Relations, APAC Regulatory Advisor, Head of Acquisitions, Head of Executive Communications and Visibility, Head of Communications and PR, Director of APAC Communications, Global Communications/PR Managers and content marketing specialists and more.

Polygon Partners with Orbs, DeFi.org to Launch Accelerator Program

On May 18, Polygon partnered with Orbs to launch a plan to support DeFi builders through the DeFi accelerator platform DeFi.org. Polygon and DeFi.org noted that the program will provide funding opportunities, mentorship and market exposure to selected projects. DeFi.org Accelerator Program participants must create projects on Polygon. The accelerator program will focus on developing projects that combine Polygon's layer 2 solutions with Orbs' layer 3 infrastructure.

【Elite Viewpoint】

Jack Dorsey: Block is no longer just a payments company

Block executives no longer want the company to be seen as a pure payments business. At an investor day on Wednesday, Block executives said the money management app and its cryptocurrency and music streaming business should be considered an "ecosystem." Amrita Ahuja, Block's chief financial officer, told CNBC in an interview, "Calling Block a payments company is like calling Amazon a bookseller. We've grown on multiple dimensions and in many different ways." Founder Jack Dorsey kicked off Wednesday's presentation with a keynote address on Block's evolution and Bitcoin's role in its future. He said it was difficult to put a company like Block into a single category. “We are no longer just a payments company. A lot has changed since our last investor day.”

MicroStrategy's new CFO: will not change Bitcoin plans, does not intend to sell any Bitcoin

Andrew Kang, the new CFO of MicroStrategy (MicroStrategy), said that despite the recent decline in Bitcoin, MicroStrategy will not change the Bitcoin plan and does not intend to sell any Bitcoin.

【What to watch today】

Ethereum public testnet Ropsten to undergo PoS merger in early June

Ropsten, Ethereum’s main public testnet, will undergo a proof-of-stake (PoS) merger in early June, one of the final preparations before the main Ethereum blockchain can switch to a proof-of-stake consensus, where the current proof-of-work chain is aligned with the new stake A test merge of the proof chain is expected to take place on June 8. Anthony Sassano, co-founder of ethereum research tool EthHub, estimated that the merger on the mainnet could happen as early as August, but has yet to provide an official timeline.

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