Lianxun Daily Coin Circle 2022.11.22｜Ten minutes to grasp global blockchain and cryptocurrency news

Read the full version 👉LianxunCoin Circle Daily 2022.11.22｜Ten minutes to master global blockchain and cryptocurrency news

Dear Chain Learner Readers:

Binance Labs enters the cold wallet industry, Binance CEO CZ said that centralized exchanges will no longer be needed? Alameda Research's bankruptcy implicates DeFi! The asset cross-chain protocol Ren Protocol used by hackers will be shut down within 30 days, and the official calls on users to transfer assets back to the original chain as soon as possible!

Other cryptocurrency news today:

• JP Morgan Chase successfully applied for the registration of the cryptocurrency wallet "JP MORGAN WALLET" trademark.
• USD stablecoin issuer Tether transfers 1 billion USDT from Solana blockchain to Ethereum blockchain.
• FTX wallets do not contain any bitcoins, and analysts suspect that FTX lets users trade fake bitcoins.

From the opinion of today’s bigwigs in the currency circle, CZ, the founder of Binance Exchange, is frustrated with India’s cryptocurrency tax system; Paul Graham, the founder of venture capital firm Y Combinator, is angry, scolding Vitalik Buterin for being a jerk and “backing up” him; Bank of England Deputy Governor Jon Cunliffe said the UK may need a digital pound.

✨ Latest Cryptocurrency News

Binance Ventures Binance Labs Enters Cold Wallet Industry, Leads Ngrave Series A Funding

Binance Labs, the venture capital arm of Binance, the world's largest cryptocurrency exchange, announced that it will make a strategic investment in Ngrave , a Belgian cold wallet company, and will lead the upcoming A round of financing.

Ngrave is not the first hardware wallet provider that Binance Labs has invested in. As early as 2018, they invested in hardware wallet manufacturer SafePal and integrated SafePal's solutions into the Binance platform. In October, the SafePal Mini App Added to the Binance app. In November of this year, Binance partnered with hardware wallet manufacturer Ledger to allow Binance users to use credit cards to purchase cryptocurrencies through Ledger's app.

In addition, Binance CEO Changpeng Zhao expressed his opinion last week, if we can have a way for people to hold their own assets safely and easily, so that 99% of ordinary people can do it, centralized exchanges will not exist or may Does not need to exist.

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Asset cross-chain protocol Ren Protocol will be closed within 30 days, calling on users to transfer assets back to the original chain as soon as possible

The asset cross-chain protocol Ren Protocol officially stated that the Ren 1.0 network will be shut down within 30 days , and users are requested to transfer cross-chain assets back to the original blockchain as soon as possible, such as: renBTC. At the same time, the Ren team hopes to launch the latest version of the protocol, Ren Protocol 2.0.

Ren Protocol was acquired by Alameda Research, a market maker under FTX, in 2021, and operated under its leadership and provided with an annual development fund of 700,000 US dollars. Now that Alameda has entered bankruptcy proceedings, it can no longer provide development funds. The remaining funds are currently about 160,000 The US dollar can only last until the fourth quarter of this year. The official stated that new capital operations will be needed next, and will discuss subsequent development through voting through its decentralized autonomous organization RenDAO.

The Ren team stated that given that Ren 1.0 was run under the leadership of Alameda, which is currently in bankruptcy proceedings, the Ren development team felt it would be best to bring the Ren 1.0 network to an end and launch Ren 2.0 earlier than originally planned, in order to Ensuring the security and integrity of the Ren ecosystem. While the Ren 1.0 network remains secure and operational, the end of Ren 1.0 also marks the exit of Alameda's investment in the project in order to preserve the reputation, integrity and long-term prospects of the Ren ecosystem.

Ren Protocol is an Ethereum-based DeFi protocol designed to bridge encrypted assets to the Ethereum blockchain and the BNB blockchain, and has processed more than $13 billion in cross-chain transactions since its inception.

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JP Morgan Chase successfully applied for the registration of the cryptocurrency wallet "JP MORGAN WALLET" trademark

On November 15, the United States Patent and Trademark Office approved the application for registration of the cryptocurrency wallet "JP MORGAN WALLET" trademark by JPMorgan Chase , the largest financial institution on Wall Street in the United States, which covers virtual currency transfer, exchange, encrypted payment processing, virtual checking accounts and financial services.

The traditional financial giant JPMorgan Chase has obvious intentions to develop the encryption industry in the near future. Itcompleted its first DeFi transaction on Polygon and Aave on November 3 this year, and carried out "real-time cross-currency transactions" for digital SGD and JPY deposits, as well as simulated trading of tokens An exercise in converting government bonds.

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USD stablecoin issuer Tether transfers 1 billion USDT from Solana blockchain to Ethereum blockchain

Tether, the US dollar stablecoin USDT issuer, announced that it will coordinate with a third party to execute cross-chain transactions, transferring 1 billion USDT from the Solana blockchain to the Ethereum blockchain (ERC-20), and said that in the process of execution, The total issuance of USDT will not change in any way, only the number of each chain will increase or decrease.

Previously, Binance, the world's largest exchange, and many exchanges havesuspended the USDT and USDC deposits through the Solana blockchain ; the OKX exchange even announced that USDT on Solana will be delisted, but it will also be released after Binance announced the recovery. Cancellation decision.

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No Bitcoin in FTX Wallet, Analysts Suspect FTX Letting Users Trade Fake Bitcoin

After FTX entered bankruptcy protection, its balance sheet showed that it should be worth $1.4 billion in bitcoin, but in fact there is no bitcoin in FTX's user-custodial wallets , which means that FTX is likely to embezzle users' bitcoin without authorization assets.

In this regard, independent market analyst Jan Wüstenfeld believes that FTX may allow users to trade fake bitcoins , and users should transfer bitcoins out of the exchange so that the exchange cannot artificially increase the supply of bitcoins in the short term. Jameson Lopp, co-founder and chief technology officer of Bitcoin storage platform CasaHODL, pointed out that fake Bitcoin products currently threaten the ecosystem. If most people buy fake Bitcoins, Bitcoin will not become a good value store. .

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FTX owes the top 50 largest creditors more than $3 billion, with the largest being $226 million

According to a court document filed on November 20, amongFTX’s estimated 1 million creditors , the top 50 creditors owe a total of more than $3 billion , with the largest creditor at $226 million, the second largest at $203 million, and others Arrears fall between $21 million and $203 million. In addition, the identities of these creditors were not disclosed in the document.

“The Top 50 list is based on creditor information currently available to the debtor, including customer information that is available to the debtor but is currently not otherwise available, and the debtor will continue to investigate the amounts listed, including those that may have been paid,” lawyers hired by FTX wrote in the filing. Payments that have not yet been reflected in the debtor’s books and records. The debtor is also working to gain full access to customer data.”

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