Weekly Recommendations | SBF recounts the entire process of Alameda's hundreds of billions of dollars loss; Wang Feng connects with He Yi to discuss Binance's current situation and topics related to market investment

Organizer: Cookies, ChainCatcher

1. "SBF's Latest Statement: The Real Reasons and Process Behind Alameda's Hundreds of Billions in Losses"

SBF elaborated on some key moments and the real reasons behind Alameda's hundreds of billions in losses. He stated that by the end of 2021, Alameda's balance sheet reached a net asset value of approximately $100 billion, with a value of $50 billion even after excluding related assets like SRM. However, due to insufficient market hedging, its assets depreciated by over 80% this year as the market collapsed.

2. "Wang Feng's Dialogue with He Yi: How to Face Today's Web3 Dilemma?"

Recently, the "POWER Hong Kong Web3 Innovators Summit" was held in Hong Kong, where MarsBit founder Wang Feng connected via video with Binance co-founder & CMO, and head of Binance Labs, He Yi. They discussed Binance's current situation and market investments, and this article is a transcript of their dialogue.

3. "Full Text of DCG Founder’s Letter to Shareholders: 19 Questions Addressing Everything"

Regarding DCG's business model, the true relationship with its wholly-owned subsidiaries, how much it owes Genesis Capital, its relationship with FTX, its connection with Three Arrows Capital, and whether it has any ties to Terra Luna, the DCG founder responded to market questions through these 19 queries.

4. "2022 DeFi Review: Can DeFi Without Innovation Drive the Next Bull Market?"

The leading protocols in the DeFi space are primarily developing along an integration route. Even when the bull market arrives, few emerging, vertical projects appear. Similar to China's internet era, giants like Alibaba and Tencent monopolized major categories like social media, gaming, and e-commerce. This article is the text version of the Twitter Space "2022 DeFi Review and Summary" hosted by ChainCatcher and CatcherVC, summarizing the insightful views of DoDo researcher Flame, Synthetix China head Errance, dForce founder Mindao, GoPlus Security partner manager Stan, and iZUMi Finance co-founder Jimmy. You can click here to view the full version.

5. "a16z: How to Regulate Web3 Applications?"

This article is the second part of a16z's series "Regulating Web3 Applications, Not Protocols," aiming to establish a regulatory framework for Web3 that retains the benefits of Web3 technology while reducing the risks of illegal activities and consumer harm. It specifically explores a pragmatic framework for regulating Web3 applications, emphasizing that Web3 regulation must apply only at the application level (meaning software that operates for end-users and provides access to protocols), rather than at the protocol level (the underlying decentralized blockchain, smart contracts, and new native functionalities for the internet).

6. "The Hot Trend of Crypto Accounting Financing Under Tightening Regulation: Current Status, Major Projects, and Trends"

According to RootData, in 2022, there was frequent financing of crypto projects related to crypto finance & accounting & taxation, as well as on-chain financial solutions, with over 20 financing events in this field, including participation from well-known funds like Sequoia Capital, Paradigm, Tiger Global, Coinbase Ventures, and Distributed Capital. This article reviews projects with financing amounts over $10 million and briefly analyzes their main business directions and some future development trends.

7. "Twelve Questions for Vitalik: Strongly Supporting More Decentralized Stablecoins, EIP-4844 and Rollup Can Temporarily Solve Scalability Issues"

On January 11, members of the Ethereum Foundation (EF) research team held the ninth AMA on Reddit. This was also the first AMA of 2023. Ethereum founder Vitalik Buterin, EF researcher Danny Ryan, Dankrad Feist, Justin Drake, Domothy, and others participated online to answer community members' questions. This article excerpts Vitalik's responses to community inquiries.

8. "AC Talks with the Fantom Community: Huge Discrepancies in Using On-Chain Data as KPI and Ethereum's Development Path"

Recently, Andre Cronje, known as the "Father of DeFi," announced his return. As one of the earliest builders in the DeFi space, AC published an article last April titled "Crypto is Dead, Crypto Lives On," announcing his exit. However, related news still brings some fluctuations to Crypto, especially Fantom. After AC's return, everyone is focused on whether AC can revive DeFi's former glory and bring better development to Fantom. Recently, AC initiated an infinite AMA event, and this article compiles some of the exciting content.

9. "AvatarDAO: Research Report on the X To Earn Track"

While most investment activities still occur in primary and secondary markets, a miraculous door has opened, releasing tremendous potential in 2021. This is GameFi. This special research report does not require you to have deep knowledge of the GameFi industry, as it is organized by professional researchers from AvatarDAO. This report will cover the definition of GameFi, the early development history of on-chain games, the phases of GameFi 1.0 and 2.0, and future development trends of GameFi X.0, providing a comprehensive overview and summary of the GameFi track.

10. "Beyond Scalability and Privacy, What Other Application Potentials Does ZKP Have in the Metaverse?"

Do humans fully own and control their lives? If we violate social rules, the government may arrest us or even take our lives for serious offenses. In the digital realm of the metaverse, we will not be bound by social or physical laws. We will be able to experience infinite space and time, as there are no limits to traveling in the digital realm, allowing participants in the metaverse to instantly reach any digital domain they desire. With zero-knowledge proofs, individuals can ensure their truths—identity, money, property, and freedom—by holding their private keys. Truth is the ultimate sovereign, as the universe is defined by it.

11. "Delphi Digital: Why We Are Bullish on Sei Network?"

Delphi Digital's report also includes content related to ecology, tokens, etc., which we will temporarily skip, only showcasing Sei Network's innovations in technology and mechanisms.

It can be seen that Sei has made innovations in parallel processing and block broadcasting, improving the network's transaction confirmation speed. However, on the other hand, Sei requires validators with high-performance hardware configurations and needs these validators to be geographically concentrated to further meet its support for the order book model trading platform. Delphi also acknowledged the centralization issue in the report but stated that the performance improvements are still significant.

12. "A Comprehensive Analysis of Legal Compliance Issues for Web3 Projects in the U.S."

Although Coinbase was recently fined $50 million by the New York State Department of Financial Services (NYDFS) for violating New York banking laws and compliance plans, its global compliance path and regulatory explorations regarding crypto assets are worth learning from.

This article mainly references Coinbase's SEC-disclosed prospectus, 10-K, and 10-Q public documents to examine the legal compliance matters that Web3 projects need to pay attention to in the U.S. Additionally, it also excerpts recent views from Coinbase's CEO and a16z on CeFi and DeFi regulation.