Planet Daily | Musk denies owning Dogecoin’s whale wallet; Huang Licheng sues chain detective ZachXBT for defamation (June 19)


Headlines

Musk Denies Owning Dogecoin Whale Wallet

Odaily Planet Daily News last year; June; Elon Musk; received a class action lawsuit for insider trading, the lawsuit accused him of participating in Dogecoin's "pump-and-dump" activities and harming retail investors, the plaintiff Lawyers claim that Musk's change of Twitter's logo from the blue bird to the Dogecoin logo was also part of his alleged plan. However, according to the latest letter obtained by the New York Post, Musk's lawyer; , Musk’s allegation that he owns specific wallets is “baseless,” saying: “The only basis for your assertion is that these wallets sold Dogecoin at a time when the price was increasing, according to the 3rd Amended Complaint.” (bitcoin .com)

Binance.US; Reaches Agreement with; SEC; Plans to Repatriate US Client Funds, Wallet Keys

Odaily Planet Daily News Binance, Binance.US; and the United States; SEC; announced an agreement to ensure that only; Binance.US; employees can access customer funds. The proposed agreement still needs to be signed off by a federal judge overseeing the case. Under the proposed agreement, Binance.US; will take steps to ensure that no; Binance Holdings (referring to the global exchange) officials have access to the private keys of its various wallets, hardware wallets, or pairs of; Binance.US;'s; Amazon Web Services; tools root access permissions. Additionally, the U.S.-based cryptocurrency trading platform will share details about its business spending, including estimated costs, in the coming weeks. ; The proposed agreement is in response to a motion by the United States; SEC; to freeze all; Binance.US; assets. The SEC; said it was concerned that funds could be transferred overseas or records destroyed if a Temporary Restraining Order (TRO) was not obtained. (CoinDesk)

Licheng Huang Sues Chain Detective ZachXBT for Defamation, Who Raises $1M Donation to Pay Legal Fees

Odaily Planet Daily News "Machi Big Brother" Huang Licheng (MachiBigBrother) sued the chain detective; ZachXBT. ZachXBT; issued a document last year claiming that Huang Licheng had embezzled; 22,;000; coins; ETH; project funds. ; The lawsuit, filed Friday in the U.S. District Court for the Western District of Texas, accuses; ZachXBT; of defaming Huang Licheng and causing him "severe reputational and monetary damages." Huang Licheng's lawyer stated in the complaint that ZachXBT; disregarding the destructive impact that the public accusation of criminal behavior may have on the defendant, not only continued to publish his defamatory articles on "Medium", but also maliciously sent more than 300,000 yuan to him. Twitter followers promote this article. In this regard, ZachXBT; tweeted that Huang Licheng's lawsuit against him was groundless, and he would fight back to defend freedom of speech. ZachXBT; has appealed to supporters to donate money to support his legal defense, saying he expects to "easily incur more than; $1 million; million" in costs. Addresses starting with 0x;6;eA;1; have raised more than;400,000 USD in fees so far.

On-Chain Detective; ZachXBT; Has Received Over; $1 Million; in Donations

Odaily Planet Daily News Nansen; data show that the chain detective; ZachXBT; Principals; Viktor Bunin, Encryption Security; CertiK, Cosine, Justin Sun, etc.

Huang Licheng: All the compensation received in the lawsuit against; ZachXBT; will be donated to charity

Odaily Planet Daily News "Machi Big Brother" Huang Licheng (MachiBigBrother) tweeted, I just hoped (ZachXBT) to apologize. Any monetary compensation I receive, I donate to charity. According to news yesterday, Huang Licheng sued the chain detective; ZachXBT. ZachXBT; issued a document last year claiming that Huang Licheng had embezzled; 22,;000; coins; ETH; project funds. The lawsuit, filed Friday in the U.S. District Court for the Western District of Texas, accuses; ZachXBT; of defaming Huang Licheng and causing him "severe reputational and monetary damages." Huang Licheng's lawyer stated in the complaint that ZachXBT; disregarding the destructive impact that the public accusation of criminal behavior may have on the defendant, not only continued to publish his defamatory articles on "Medium", but also maliciously sent more than 300,000 yuan to him. Twitter followers promote this article. In this regard, ZachXBT; tweeted that Huang Licheng's lawsuit against him was groundless, and he would fight back to defend freedom of speech. ZachXBT; has appealed to supporters to donate money to support his legal defense, saying he expects to "easily incur more than; $1 million; million" in costs. Nansen; data shows that addresses starting with 0x;6;eA;1; have received close to;1 million; million in donations (as of press time; $998,;434.37;). Donors include Binance, Crypto Media; Bankless, Coinbase Cloud; Protocol Leaders; Viktor Bunin, Crypto Security; CertiK, Cosine, Justin Sun, and more.

Industry news

Bitwise; to U.S.; SEC; filing to amend proposed Bitcoin; ETP Trust; rules

Odaily Planet Daily News Bitwise Asset Management; has submitted a new application document to the United States; SEC on June 16, requesting to modify the rules to adapt to its planned; Bitwise Bitcoin ETP Trust. United States; SEC; rejected; Bitwise; submitted Bitcoin spot; ETF; application in; 2022; June; Evidence of the size of the relevant market. In the new filing, BitWise; said the U.S.; SEC; should have within; 45-90; days to approve, reject or initiate other processing around its proposed rule change. It is reported that the application was issued by the New York Stock Exchange (NYSE), but has not yet been processed by the US SEC, which means that the actual deadline for the relevant application is not yet known. (Cryptoslate)

Tether; in; 2019; year; 6; month to 2021; year; 5;

Odaily Planet Daily News According to relevant documents released by the Office of the Attorney General of New York State this week, the stable currency issuer; Tether; issued; 116; Dollar mortgage. Of the;694;loans,;89%;of loans had Bitcoin as collateral, and;9%;of loans had Ethereum as collateral. The remaining; 2%; is collateralized by; Tether Gold (XAUT) and other securities. Tether; cumulatively received; 45; million Bitcoin and; 1.1 million; Ethereum collateral. The documents also show that Tether; repaid; $8 billion in loans during this period. In December 2022, Tether said it would reduce the collateralized and overcollateralized loans in its reserves to zero during 2023. (The Block)

Delio; announced that it will resume withdrawals in stages, and has not disclosed the specific repayment period and method, etc.

Odaily Planet Daily News Encrypted financial company; Delio; announced that it will resume withdrawals in stages, but did not disclose the specific repayment period, method and loss amount. On June 17, Delio CEO Jeong Sang-ho; said at an investor briefing, "Currently; Delio; is in an unstable state because it depends on the situation of; Haru Investment; and; B&S;. I understand "Haru Invest; is going through bankruptcy proceedings. We will secure as much compensation capital as possible, such as third-party paid-in capital increase." However, Jeong; did not disclose the specific repayment time. ; In addition, Delio; the rate of return advertised in the deposit product initially was difficult to guarantee, but stated that there would be a plan to recover losses. ; It is learned that Delio; entrusted some of its clients' funds to; Haru Invest; and; Haru Invest; entrusted its funds to; B&S. When ;Haru Invest; stopped exiting on ;June;13; due to problems with ;B&S;, it spread to ;Delio. (Decenter)

Encrypted payment company;Wyre; will be shut down one by one, users need to withdraw assets before;7;month;14;

Odaily Planet Daily News encrypted payment company; Wyre; tweeted that the company is gradually closing. Wyre; said the decision was taken to protect the best interests of key stakeholders and customers due to market conditions. This decision was not due to any direction from any regulatory agency. Wyre; continues to protect the security of customer assets. If the user owns assets on the "Wyre" platform, they can withdraw the relevant assets through the "Wyre" dashboard before the "July;14;", after which there will be a separate process to recover the remaining assets on the platform.

PieDun: Cross-chain currency market solution; Midas Capital; attacked and lost more than $600,000

Odaily Planet Daily News According to PieDun's detection, Midas Capital; was hacked and caused a loss of more than; 60; million US dollars, because of the integer rounding problem in its lending agreement (derived from the well-known; Compound Finance v2 code library analysis). Fork) was exploited, and the same situation was also exploited in the previous;Hundred Finance; attack.

Project Highlights

Cosmos Hub; Community Proposes to Hire Lawyers Ahead of Potential Regulatory Impact

Odaily Planet Daily News After the US; SEC; sued Binance, Coinbase;, the Cosmos Hub; community has drafted a proposal to hire a lawyer as a potential preventive measure. The move is at least partly due to the "SEC" classifying the "Cosmos Hub" native token "ATOM" as a security.

Polygon; put forward preliminary ideas about "system smart contract governance", including the establishment of an ecosystem committee, etc.

Odaily Planet Daily News Polygon; The community put forward an initial idea about "system smart contract governance", which attempts to propose a potential future decentralized, community-controlled ecosystem committee security model, which can be achieved through the use of decentralized and permissionless Governance to address existing and upcoming; Polygon; needs for contract upgradeability (eg; ZK Rollup) in the protocol. The goal is to introduce community checks on contract upgradability, while preserving the necessary safety guarantees to enable further development of the "Polygon" protocol.

Pudgy Penguins;Lianchuang;Cole;Twitter account has been restored after being hacked and posting false information on June;5;

Odaily Planet Daily News NFT; project; Pudgy Penguins; co-founder; Cole; tweeted that he has officially restored the ownership of his Twitter account. He explained: "My account was hacked on 6; May; 5; hackers took control of my mobile phone number through a SIM swap attack. All tweets and private messages since 6; May; 5; Hackers, not me... I can confirm that there is no so-called;IGLOO; token, and everything related to it was created by the hacker who broke into my account. Since the acquisition of;Pudgy Penguins; last year, I have is no longer affiliated with this company in any way."

Investment and Financing

Crypto fund; DBA Crypto; lowers target fundraising from; $5; million to; $150 million

According to Odaily Planet Daily News, according to the documents submitted to the United States in June;

The institutionally-oriented investment startup has previously sought to raise at least $500 million in external funding and aims to launch by the end of 2022 or early 2023. Three of the core employees have moved to other encryption companies. Sources at the time said the DBA was in advanced talks with potential anchor investors, but its plans didn't pan out. Latest; SEC; filing shows that DBA Crypto; cut the total target fundraising of its fund from; $5; million to; $150; million, the target fundraising of its flagship; DBA Crypto Fund 1; onshore and offshore versions The amount is 75 million US dollars. DBA; initially intended to take a co-investment approach covering digital asset ventures and liquidity strategies including derivatives, the sources said. Team members at the time included; Josh Lim, who resigned from his role as Head of Derivatives at Genesis in August 2022 and joined the DBA; and former Genesis employee Roshun Patel. The duo, along with quant analyst; Shane Barratt; have signed on as a; DBA; partner. Lim later joined another cryptocurrency firm, Barratt, as an algorithmic trader at Tower Research Capital in April, according to sources. Meanwhile, the LinkedIn; page shows that Patel; this year; February; became a; Hack VC; partner. (Blockworks)

Full-chain money market protocol; TapiocaDAO; completed; $6 million; seed round financing, LayerZero Labs; etc. participated in the investment

Odaily Planet Daily News based on; LayerZero; full-chain money market agreement; TapiocaDAO; announced the completion of; $6 million; seed round financing, Fisher;8 Capital, LayerZero Labs, PARC Capital, Jones DAO, Dewhales Capital, Magnus Capital, Capybara Capital; and individual investors; Library Onchain; founder; Zoomer Oracle, Squirrel (Arrakis Finance), DCF GOD, redphone, vf.at, Captain Rational, hedgedhog; etc. participated in the investment. ; It is reported that TapiocaDAO; uses L0 technology to support any; EVM; and non-; EVM; chains. Users can stake assets on one chain and borrow assets on another chain without transferring assets between chains. In addition, TapiocaDAO; launched a full-chain over-collateralized stablecoin; USDO based on; LayerZero;

EOS; Network Foundation; CEO: The first round of ENV investment will be announced in the next few weeks, totaling approximately; $5.4 million;

Odaily Planet Daily News EOS; Founder and CEO of the Network Foundation; Yves La Rose; tweeted that EOS Network Ventures (ENV) had committed to the "EOS EVM" and "GameFi" project investment a few months ago; 2000; million US dollars, the first round of "ENV" investment will be officially announced in the next few weeks, totaling approximately; 5.4 million US dollars.

DeFi; Protocol; Concordia; Closed; $4M; Seed Round, Tribe Capital; and; Kraken Ventures; Lead

Odaily Planet Daily News digital asset multi-chain risk and collateral management agreement; Concordia; completed; $4 million; seed round financing, Tribe Capital, Kraken Ventures; lead investment, Cypher Capital, Saison Capital; etc. participated in the investment. Earlier this month, Concordia; has launched a public testnet on; Aptos; The mainnet is expected to go live in the next few months. Concordia; will also launch on other chains. (CoinDesk)

Global Policy

SEC; Enforcement Chief: Entire crypto industry 'built on non-compliance', hence enforcement action

Odaily Planet Daily News SEC; Enforcement Director; Gurbir Grewal; In a speech at a recent event, the Commission has carried out "thoughtful and gradual progress" in dealing with actions related to the encryption field, but this approach has failed to solve the problem of regulators. Consider the issue of unregistered securities offerings.

Grewal; said: "Even if you come up with a specific set of rules, the ethics of the industry as a whole is based on non-compliance. Normally, you will see compliance, but in this field We didn’t see it, so we had to change tactics.” (Cointelegraph)

Chen Maobo, Financial Secretary of Hong Kong: Over the past year, Cyberport has accumulated more than 150 Web3-related companies.

Odaily Planet Daily News Hong Kong Financial Secretary Chen Maobo issued an article saying that promoting the development of innovative technology is a key task for the government to intensify its efforts. The National 14th Five-Year Plan has clearly given Hong Kong the positioning and mission of building an international innovation and technology center. Using innovation and technology to promote industrial upgrading, transformation and diversified development is the only way for Hong Kong to move towards high-quality development, and it will also help the country to accelerate the realization of high-level technological independence. Self-improvement and speed-up to realize Chinese-style modernization development. The development of innovation and technology is the core issue of Hong Kong's future development. ; Chen Maobo said that Cyberport's tech ecosystem is also growing rapidly, with more than 1,900 companies, the accumulated financing of start-ups has exceeded 35.7 billion yuan, and it has more than 480 intellectual property projects. One of the companies in the Cyberport community became the second virtual asset trading platform in Hong Kong to be licensed by the Securities and Futures Commission last year. On the other hand, the "Financial Budget" has allocated 50 million yuan for Cyberport to accelerate the development of the third-generation Internet Web3.0 with blockchain as the underlying technology. The settlement of related enterprises is believed to bring more R&D and application innovations to this development.

Indonesian futures trading supervisory agency updates the list of encrypted assets, tradable assets reach; 501;

Odaily Planet Daily News The Indonesian Commodity Futures Trading Supervisory Agency (Bappebti) recently announced that in order to meet the needs of encrypted asset transactions and provide legal certainty and protection for the public to trade encrypted assets, Bappebti; The list of encrypted assets for trading has been adjusted, and new regulations on the list of encrypted assets that can be traded in Indonesia have been issued. It is reported that users can trade on the Bappebti licensed encrypted trading platform, and there are currently 501 types of assets available for trading, including BTC, ETH, and those identified as securities by the US; SEC; LTC, SOL, ADA, XRP, DOT, SAND; and; UNI; etc.

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Uniswap; founder: BUSL; is the best choice for the community, if; UNI; holders disagree, they can be changed to GPL through governance voting

Odaily Planet Daily News Uniswap; Founder; Hayden Adams; Tweeted that for the v4 license, I hope to apologize to anyone who is uncomfortable with "Uniswap" using the term "open source", "available source "(source available) is more accurate. Adams; stated that in his personal opinion: BUSL; is; Uniswap; the best choice for the community; offers; GPL; dated; BUSL; distinct from other proprietary licenses and closer to open source; fully understands that some disagree with the above If the "UNI" holder disagrees, it can be changed to GPL at an earlier date via a v4-core-license-date.uniswap.eth; governance vote. Contributing to the ;BUSL; code is free for participants, and participants who think they can make a significant contribution but want to be paid can try to apply for a grant. Building V4 publicly is definitely better for the ecosystem and all projects built on top of it.

CZ: "Binance Nigeria Limited" is a fraudulent entity and has issued a suspension notice

Odaily Planet Daily News The founder of Binance; CZ; tweeted that Binance has issued a notice to the fraudulent entity "Binance Nigeria Limited" to stop operations, and reminded users not to believe the relevant information they saw in the news.

Coinbase; Chief Legal Officer: Court Should Mandatory; SEC; Respond to; Coinbase; Petition

Odaily Planet Daily News Coinbase; Chief Legal Officer; Paul Grewal; tweeted, "We can't wait until next week's deadline for the U.S.; SEC; to respond to the Third Circuit; June; June; 6; order. It is unusual for the government to reject a direct inquiry in federal court. The court should now grant an executive order because the;SEC;has decided not to approve;Coinbase;'s rulemaking petition and is actively damaging the industry.SEC;refuses to say how much more it takes The lengthy time it takes to act on the "Coinbase" petition confirms the futility of further delays. The court should order the "SEC" to report its action within "60" days and if the "SEC" has not acted by then, the court should expeditiously Judgment on the enforcement order."

Analysis: BlackRock's; iShares; Filing; Bitcoin Trust; and Grayscale; GBTC; Totally Different

Odaily Planet Daily News Fund management giant BlackRock's; iShares; department submitted to the US; SEC; iShares Bitcoin Trust; application documents on Thursday afternoon. The proposal's name and other details have sparked some confusion among industry experts as to whether BlackRock is applying for an "ETF" or a trust similar to the attributes of the Grayscale Bitcoin Trust (GBTC). ; Crypto is Macro Now; editor; Noelle Acheson; says BlackRock's proposal is technically a trust, but it's a trust that allows redemptions, so it functions like an "ETF; In this sense, the iShares; product is completely different from the "GBTC" which has no redemption mechanism. The key difference is spot bitcoin; the ETF "will be able to buy bitcoin at the end of the trading day to keep the fund's assets in line with the price at which they are trading." The Bitcoin Layer; market analyst; Joe Consorti; said the trust does not have the capacity to do this. (CoinDesk)