Currency Daily 2022.08.31

Dear Reader:

The well-known public chain Avalanche (AVAX) was reported to be leading a malicious lawsuit. Following the response from the CEO of the operating company Ava Labs, the founder of the law firm that cooperated with it also issued a statement...

Other headlines today include:

• The head of the blockchain of JPMorgan Chase fired: Everyone here is rubbish.
• Central African Republic's cryptocurrency plans thwarted.
• Vitalik reminder: The hard fork is September 6th.

Different from the mainstream beliefs of the currency circles, the venture capital founder Justin Bons was quite critical of Bitcoin, and finally decided to abandon the "big brother" Bitcoin and embrace the "second brother" Ethereum, which is a very special big brother's point of view.

today's headlines

≣ Meta announced that it has supported the display of NFTs on Facebook and Instagram

Social media giant Meta announced on the 30th that users will be able to share their digital collectibles and NFTs on its social platforms such as FB and IG. Just connect any one of the two platforms to the e-wallet, and you can issue NFTs on both platforms at the same time. These NFT-related posts are different from ordinary posts in that a label labeled "Digital Collectible" will be added to the lower left corner.

According to actual measurements, most IG users in Taiwan can already support the NFT post function.

≣ The head of the blockchain of JPMorgan Chase fired: Everyone here is rubbish, except for more than a dozen coins

Umar Farooq, CEO of Onyx, the blockchain division of JP Morgan, said at the Monetary Authority of Singapore’s Green Shoots seminar on the 29th that although regulations have not caught up, the use cases of digital tokens are not Not much, most cryptocurrencies are either noise or will die.

≣ Crypto.com mistakenly transferred 10.5 million Australian dollars to a woman, found out after half a year and filed a lawsuit

In May last year, an Australian woman applied for a refund of 100 Australian dollars to Crypto.com, a well-known cryptocurrency exchange, but the company sent her 10.5 million Australian dollars, a mistake that was not discovered until Christmas Eve. To recover the money, the platform filed a lawsuit against the woman in the Supreme Court.

The money has been used to buy a mansion in suburban Melbourne, before a judge ordered the property to be sold and the remaining funds returned.

≣ The partner lawyer of Avalanche who was exposed responded: There has never been a "secret agreement", they set up a scheme to deceive me and took it out of context

Kyle Roche, founder of Roche Freedman law firm, the partner of the well-known public chain Avalanche (AVAX) operating company Ava Labs, responded to the accusation of Crypto Leaks on his personal blog. He said that his company had never had a relationship with Ava Labs. Collusion, it is revealed that the negative statements in the video are obtained by the other party's inducement and fraud, and are taken out of context.

As previously reported, Crypto Leaks broke the news that Ava Labs hired lawyers to launch malicious lawsuits against competitors. Ava Labs founder and CEO Emin Gün Sirer dismissed the claim as absurd.

≣ Central African Republic's National Cryptocurrency Scheme "Sango Coin" ruled unconstitutional

Central African Republic (CER) is the first country in Africa to adopt Bitcoin as legal currency. It officially sold the national cryptocurrency Sango Coin on July 25. However, on August 28, it was ruled by the Supreme Court that the government of the country issued a request to Sango Coin investors. The practice of offering land and citizenship is unconstitutional.

≣ Vitalik reminder: the beacon chain hard fork is on September 6th

Ethereum founder Vitalik Buterin tweeted a friendly warning: Although The Merge date is around September 10th to 20th, the beacon chain hard fork is on September 6th, please make sure to Update the client before this.

≣ Jay Chou's company launched Jay Chou's music metaverse, including the unpublished hidden new song "New York Subway"

Jewell Music plans to make a special attempt in the field of digital collections in the future, turning the unexposed song DEMO of "New York Subway" into a unique NFT for auction, and donating the proceeds for public welfare.

Big boss point of view

• James Butterfill, investment strategist at CoinShares: Observing the data on the flow of encrypted funds in the past 2 years... Market investors continue to be lukewarm .
  
  
• Justin Bons, founder of encrypted venture capital fund Cyber ​​Capital: It is estimated that it will be flipped in 6 months. I have held the position of ether in my hand for more than 6 years. Its token economic design is the new gold standard in the blockchain world .

Editor’s note: In the same post, Justin Bons spent a long time ranting about what’s wrong with Bitcoin.

Extended reading: The founder of venture capital listed six crimes against Bitcoin: zero function, full of Ponzi sense, and it has become an absolute speculative asset .

• Encrypted data indicator website Token Terminal: DeFi is boring, but if DeFi cooperates with the non-boring NFT community, it will be a success... .

On-chain data

≣ DeFi Llama: The total locked value (TVL) of $LUNC is less than ten million dollars

Before the deadline, the total locked value of $LUNC was only $9,528,233, and it has not returned to more than $10 million since August 19. The last time it fell below $10 million was on July 20 for six days.

≣ LookIntoBitcoin: The relationship between the Bitcoin whale's turnaround and the currency price trend

Crypto analyst Philip Swift created the Whale Shadows indicator and LookIntoBitcoin website to track "long dormant" bitcoin funds. He tweeted on August 30 to mark the first 6 bitcoin movements in history that were “dormant for more than 7 years” and “more than 5,000 in number”. In 5 of these 6 times, the price of the currency fell sharply.

It is worth mentioning that on August 28, a bitcoin wallet that had been silent for 9 years woke up and moved 5,000 bitcoins.

daily memes

​​Ether is hard, strong, and durable, I Europe and India !

word of the day

≣ What is the beacon chain?

The following excerpts are from the block guest

The beacon chain has been officially launched since December 2020. It is a PoS chain that runs in parallel with the current PoW Ethereum main network.

The Beacon Chain is designed to do many things: First, the Beacon Chain introduces a staking mechanism to the Ethereum ecosystem. The current PoW Ethereum chain processes transactions through "miners", and each miner uses professional mining hardware to compete to be the first to solve a cryptographic puzzle, thereby generating the next block and earning mining rewards; compared to Under the staking mechanism, this method has been abandoned, and instead, people can verify transactions by locking (staking) ETH in the software, thus ensuring the decentralization and security of the network. In return, the stakers will can be eligible for ETH rewards.

A small reminder, in response to the arrival of the Ethereum 2.0 upgrade, ordinary users "don't need" to do anything, just wait patiently. If someone asks you to do something in that name, there's a very high chance it's a scam.

ups and downs today

≣ Fear and Greed Index is 23 (extreme fear)

≣ Currency performance

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