Evening News | The Federal Tax Service of Russia suggests legislation to allow companies in the country to pay for import and export operations with cryptocurrency; Optimism announces that the next phase will launch community ownership and community governance
Framework Ventures announced that it has raised a new fund of $400 million and will invest $200 million in blockchain games.Organizer: Eva, Chain Catcher
"What important events have occurred in the past 24 hours?"
1. Russian media: The Federal Tax Service of Russia suggests legislation allowing companies to pay for import and export operations with cryptocurrency
According to the Russian newspaper "Inform", the Federal Tax Service of Russia has suggested legislation that would allow Russian companies to pay for import and export operations with cryptocurrency. It is reported that the current digital currency regulatory bill being discussed in Russia explicitly prohibits the use of digital assets as a means of payment, but the bill also contains a clause stating that "unless otherwise provided by this law," the prohibition is effective.
In response, the Federal Tax Service of Russia has recommended that the Ministry of Finance make exceptions for businesses and added the following provision in the document: "Allow legal entities to pay for goods, work, and services under foreign trade contracts and to receive income in digital currency from foreign entities." The Ministry of Finance's stance on this proposal is "partially supportive." (Source link)
2. South Korea restricts Upbit's parent company Dunamu due to monopoly issues
The Korea Fair Trade Commission (KFTC) plans to designate Dunamu, the owner of the local cryptocurrency exchange Upbit, as a company subject to mutual investment restrictions, which will impose more regulation on the entity. According to a business report uploaded by Dunamu to the Financial Supervisory Service's data system, as of 2021, Dunamu's total assets reached 10.15 trillion won (approximately $8.19 billion).
It is reported that Koh Seung-beom, chairman of the Financial Services Commission of South Korea, stated during a parliamentary inspection of the government last year that he would review Upbit's monopoly position in the local cryptocurrency market.
According to CoinMarketCap, in the past 24 hours, Dunamu's Upbit exchange accounted for about 78% of the trading volume in South Korean exchanges. The KFTC stated that when the market leader's share exceeds 50%, it constitutes a monopoly. (Source link)
3. Beanstalk Farms: If hackers return 90% of stolen assets, the remaining 10% can be considered a white hat bounty
The stablecoin protocol Beanstalk Farms stated regarding a previous attack that if hackers return 90% of the stolen assets, the remaining 10% can be considered a white hat bounty and does not need to be returned.
Additionally, the project tweeted that approximately $76 million worth of cryptocurrency was stolen, with the attackers using flash loans to exploit the protocol's governance mechanism and send the funds to wallets they controlled. Previously, multiple sources reported that Beanstalk Farms suffered a protocol loss of approximately $182 million due to a flash loan attack. (Source link)
4. Framework Ventures announces it has raised $400 million for a new fund, with $200 million to be invested in blockchain gaming
Cryptocurrency venture capital firm Framework Ventures announced that it has raised $400 million for a new fund. Framework stated in a press release that it will allocate approximately $200 million from the new fund to invest in "emerging blockchain gaming sectors."
Michael Anderson, co-founder of Framework Ventures, expressed confidence that the next phase of the blockchain industry will attract many new users, noting that blockchain gaming is still in its early stages and full of opportunities. The integration of the P2E economic model with truly engaging AAA games will bring explosive growth to the sector. (Source link)
5. MakerDAO to deploy on StarkNet on April 28, marking its first integration outside of the Ethereum mainnet
MakerDAO announced that the protocol will deploy on StarkNet, an Ethereum Layer 2 scaling solution, marking its first integration outside of the Ethereum mainnet. Specifically, the deployment will occur in four phases, with a simple cross-chain bridge between the Ethereum mainnet and StarkNet set to go live on April 28. Subsequent features such as fast withdrawals and multi-collateral Dai will be rolled out, significantly reducing the costs of DAI transactions and minting. (Source link)
6. Ethereum Layer 2 scaling solution Optimism: The next phase will launch community ownership and governance
Ethereum Layer 2 scaling solution Optimism published an article titled "A New Chapter," reflecting on past progress, network achievements, and funding information, and stated that it will open a new chapter driven by "community ownership and governance," with more information to be released soon. According to community speculation and the official roadmap, Optimism may soon launch Token OP.
It is reported that Optimism has helped users save over $1.1 billion in gas fees, deployed over 6,800 contracts, facilitated over $17.4 billion in transaction volume, and generated over $24.5 million in revenue. Previously, on April 13, it was reported that one of the four major Layer 2 solutions may issue a token next month. (Source link)
"What excellent articles are worth reading in the past 24 hours?"
How do we understand Sun Yuchen as a person? From him, we see speculation, bubbles, and even the worst parts of the crypto world. How do we understand him in the context of contemporary Chinese and American society? In this episode of the podcast, host Hana engages in an in-depth conversation with Chris Harland-Dunaway, an independent journalist from The Verge, on the aforementioned topics.
2. "Framework Ventures: What will the Crypto market look like in 2030?"
Today, Framework Ventures announced the completion of a $400 million fund "FVIII" aimed at investing in early-stage blockchain games, Web3, and DeFi startups and networks. At the same time, Framework Ventures also published an article envisioning the Crypto market in 2030, predicting that the industry will have 1 to 3 billion daily active users and a total value locked (TVL) exceeding $10 trillion.
3. "Why is Tornado Cash considered a paradise for privacy transactions?"
Tornado Cash is a privacy transaction middleware implemented on Ethereum based on zero-knowledge proofs. Its mixing function has attracted many hackers, with almost all well-known hacking cases involving mixing through Tornado Cash. This article provides an in-depth analysis of Tornado Cash's operational mechanism, token model, and competitors.
