Evening News ｜ Tornado Cash code has been re-hosted on GitHub; Immunefi and Lit Protocol complete financing of tens of millions of dollars
Binance appoints former Kraken CCO as Senior Vice President of Compliance; CFTC sues Ooki (formerly bZx) for using DAO structure to evade regulation.Organizer: flowie, Chain Catcher
"What Important Events Happened in the Last 24 Hours"
1. The code of the mixer protocol Tornado Cash has been re-hosted on GitHub
According to CoinDesk, the mixer protocol Tornado Cash has re-uploaded its code to GitHub after Ethereum developers called for GitHub to lift the ban, arguing that computer code is protected as free speech under the First Amendment of the U.S. Constitution.
It is reported that the U.S. Treasury's Office of Foreign Assets Control (OFAC) banned Americans from using Tornado Cash last month, and within hours of the OFAC announcement, GitHub removed Tornado Cash from its site to comply with the new U.S. regulations. (CoinDesk)
2. STEPN's total registered users reach 4.72 million, with a cumulative exercise mileage of 67 million miles
The Move To Earn app STEPN disclosed the latest data, showing that users have recorded over 67 million miles of exercise on the app, reaching a historical high of 1 million users on June 2, 2022, with a total registered user count of 4.72 million. (Source Link)
3. Binance appoints former Kraken CCO as Senior Vice President of Compliance
According to The Wall Street Journal, Binance has appointed former Kraken Chief Compliance Officer Steven Christie as Senior Vice President of Compliance, with Kraken indicating that it expects to hire a new Chief Compliance Officer in the coming weeks.
Previously, it was reported that Kraken co-founder and CEO Jesse Powell has stepped down, and Chief Operating Officer Dave Ripley will take over from Jesse Powell in the coming months. (Source Link)
4. Crypto automated trading platform 3Commas completes $37 million financing, with participation from Alameda Research and others
The cryptocurrency automated trading bot platform 3Commas has completed a $37 million Series B financing round, with participation from Alameda Research, Jump Capital, Target Global, and Copper CEO and founder Dmitry Tokarev. Next, 3Commas will establish a subsidiary named DeCommas, focusing on automated access to decentralized finance (DeFi) protocols. Previously in 2020, 3Commas completed a $3 million financing round with support from Alameda. (The Block)
5. Bug bounty platform Immunefi completes $24 million Series A financing, led by Framework Ventures
Bug bounty platform Immunefi has completed $24 million in Series A financing, led by Framework Ventures, with participation from Electric Capital, Polygon Ventures, Samsung Next, North Island Ventures, Third Prime Ventures, and Lattice Capital. The funds will be used to expand its team to meet the growing demand for its services, with Immunefi currently employing about 50 people, which may double in the near future.
Immunefi was founded in December 2020 and is headquartered in Singapore, claiming to have over 300 clients protecting more than $10 billion in user funds and offering $136 million in bounties to white-hat hackers. (The Block)
6. Cross-chain application building platform Hyperlane completes $18.5 million financing, led by Crypto Investor Variant
Cross-chain application building platform Hyperlane announced the completion of $18.5 million in financing, led by Crypto Investor Variant, with participation from Galaxy Digital, CoinFund, Circle, Figment, Blockdaemon, Kraken Ventures, and NFX. This round of financing will be used for recruitment, product development, and security, including bug bounties and additional audits.
Hyperlane aims to provide developers with messaging APIs and SDKs to easily build applications accessible from any blockchain. (Source Link)
7. Web3 access control protocol Lit Protocol completes $13 million Series A financing, led by 1kx
Web3 access control protocol Lit Protocol has completed $13 million in Series A financing, led by 1kx. This round of financing will be used to expand the development team to establish distributed ownership and cross-protocol interoperability.
Lit is a network for access control, computation, and encryption, designed to provide users with private keys that can interoperate across Ethereum Virtual Machine (EVM), DeFi, DAOs, and NFTs, thereby enhancing user security and autonomy over their data and digital assets. (CoinDesk)
8. Web3 music metaverse developer Hume completes $11.7 million Series A financing, led by TCG Crypto
Web3 music metaverse developer Hume announced the completion of $11.7 million in Series A financing, led by TCG Crypto, with participation from Collab+Currency, Gemini Frontier Fund, Winklevoss Capital, gmoney.eth, Flamingo DAO, Noise DAO, The LAO, Distributed Global, Coopahtroopa, and others.
Hume's first metastar (virtual music metaverse artist) is Angelbaby, who has performed at Art Basel, Fluf Haus LA, and SXSW over the past eight months. Hume also released the Hume Genesis series in July, totaling 1,035 pieces, divided into three rarity levels, with NFT holders being key to helping the metastar make important decisions in their artistic career and personal life. (Source Link)
9. CFTC sues Ooki (formerly bZx) for evading regulation using DAO structure and imposes a $250,000 fine
According to The Block, the U.S. Commodity Futures Trading Commission (CFTC) has filed a lawsuit against Ooki DAO in the U.S. District Court for the Northern District of California and imposed a $250,000 fine on Ooki DAO. The CFTC has reached a settlement with bZeroX, LLC and its founders Kyle Kistner and Tom Bean.
In its complaint, the CFTC accused Ooki DAO of evading regulation through its structure and classified Ooki DAO as "an unincorporated association composed of Ooki token holders that has never registered with the Commission in any capacity. bZeroX transferred control of the bZx protocol (now the Ooki protocol) to Ooki DAO, attempting to give bZx DAO enforcement capability through its decentralized nature."
It is reported that Ooki was renamed from the DeFi lending protocol bZx, which suffered a hack in 2020 resulting in hundreds of thousands of dollars in crypto losses. The Ooki community governs the protocol by staking OOKI tokens and voting in the Ooki DAO. (The Block)
"What Interesting Articles Are Worth Reading in the Last 24 Hours"
In addition to the concept of "modular execution layer" proposed by Fuel, more and more Layer 2 scaling solutions are beginning to propose more flexible execution layer solutions. For example, Boba Network recently introduced the concept of "multi-chain execution layer," building a multi-chain environment compatible with Layer 1 EVM-compatible blockchains and announcing partnerships with L1s like Moonbeam, Fantom, and Avalanche.
Modularity is becoming one of the forefront trends in the industry, giving rise to many new projects around execution layers, data availability, etc., which may lead the user experience of blockchain to a new level.
In the past year, many star applications have launched their own application chains or announced plans to deploy their own application chains. For high-growth projects, the direction of application chains is undoubtedly a foreseeable future. Some articles related to application chains even begin to predict that every popular Web3 application will eventually have its own blockchain. This article elaborates on the best use cases for application chains, the problems that need to be solved in building application chains, and entrepreneurial opportunities.
3. Sucking Blood, Migration, and Capital Bureau: The Rise of Move Public Chains
Aptos and Sui not only share a funding matrix that is fundamentally composed of investors from Solana, but even the project parties, developers, and some employees are highly overlapping. Compared to the "systematic" migration supporting the Rust language of Solana, another leading public chain supporting Rust, Polkadot, is also quietly deploying migration. Like Solana, many original Polkadot project parties are also developing and deploying multiple Aptos and Sui ecosystem projects simultaneously.
Regarding the hot Move public chains Sui and Aptos, over 20 venture capital institutions, project parties, and developers from China and the U.S. will take you behind the scenes to explore the stories.
