Daily Report | In the past 24 hours, friend.tech protocol fees surpassed Lido, second only to Ethereum; former vice chairman of Jiangxi Provincial Political Consultative Conference, Xiao Yi, was sentenced to life imprisonment in the first trial
The Ministry of Industry and Information Technology and three other departments issued the implementation plan for the new industrial standardization pilot project, focusing on areas such as the metaverse and generative AI; Coinbase: will invest in Circle, and the USDC plan will launch on six new chains."What Important Events Happened in the Last 24 Hours"
1. Coinbase: To Invest in Circle, USDC Plans to Launch on 6 New Chains
According to official news, Coinbase announced on social media that it will invest in Circle to continue its long-term success adjustments and investments in stablecoins (especially USDC).
Coinbase added that it has streamlined Circle's operations and governance, with Circle, as the issuer of USDC, assuming all responsibilities and obligations. For Coinbase customers, there will be no changes to USDC on Coinbase, and Coinbase will continue to support USDC across all its platforms. USDC also plans to launch on 6 new blockchains.
2. Data: In the Past 24 Hours, friend.tech Protocol Fees Exceeded Lido, Second Only to Ethereum
DefiLlama data shows that in the past 24 hours, the friend.tech protocol generated a total of $1.68 million in protocol fees, surpassing Lido protocol ($1.61 million), Uniswap ($888,000), and the Bitcoin network ($392,000), second only to the Ethereum network ($3.45 million). (Source link)
3. Data: A Whale Transferred Over $3 Billion in BTC in the Past 3 Months, Becoming the Third Largest Bitcoin Holder
According to data from the crypto statistics platform BitInfoCharts, an anonymous whale address (bc1ql49ydapnjafl5t2cp9zqpjwe6pdgmxy98859v2) has accumulated a total of 118,300.2 BTC (approximately $3.08 billion) in the past 3 months, becoming the third largest Bitcoin holder.
It is reported that the first and second largest Bitcoin holding addresses are Binance's cold wallet and Bitfinex's cold wallet. (Source link)
4. Four Departments Including the Ministry of Industry and Information Technology Issued a New Industrial Standardization Navigation Project Implementation Plan, Focusing on Metaverse, Generative AI, and Other Fields
The Ministry of Industry and Information Technology, the Ministry of Science and Technology, the National Energy Administration, and the National Standardization Administration issued a notice on the implementation plan for the "New Industrial Standardization Navigation Project (2023-2035)." The "Implementation Plan" mainly focuses on the standardization work of emerging industries and future industries, forming a new industrial standardization key area of "8+9."
Among them, emerging industries focus on eight major fields: new generation information technology, new energy, new materials, high-end equipment, new energy vehicles, green environmental protection, civil aviation, and ship and marine engineering equipment; future industries focus on nine major fields: metaverse, brain-computer interfaces, quantum information, humanoid robots, generative artificial intelligence, biological manufacturing, future displays, future networks, and new energy storage.
5. Former Vice Chairman of Jiangxi Provincial CPPCC, Xiao Yi, Sentenced to Life Imprisonment in First Instance
According to China News Service, the Hangzhou Intermediate People's Court in Zhejiang Province publicly sentenced Xiao Yi, former member of the Party Leadership Group and Vice Chairman of the Jiangxi Provincial CPPCC, for bribery and abuse of power, sentencing him to life imprisonment for bribery, depriving him of political rights for life, and confiscating all personal property. He was also sentenced to six years in prison for abuse of power, with the life imprisonment sentence to be executed, depriving him of political rights for life, and confiscating all personal property; the property and its proceeds obtained from bribery that were sealed and seized will be recovered according to law and turned over to the national treasury.
The trial found that from 2008 to 2021, the defendant Xiao Yi took advantage of his positions as the director of the Jiangxi Provincial Government Office in Beijing, the secretary of the Fuzhou Municipal Committee, and the vice chairman of the Jiangxi Provincial CPPCC to provide assistance to relevant units and individuals in project contracting, project development, and job promotion, illegally accepting property totaling more than 125 million yuan, of which over 57.82 million yuan had not been actually obtained; from 2017 to 2021, while serving as the secretary of the Fuzhou Municipal Committee, Xiao Yi violated the new development concept and national regulations, providing assistance to enterprises engaged in virtual currency mining in terms of financial subsidies, funding support, and power guarantees, causing significant losses to public property and the interests of the state and the people, with particularly serious circumstances and particularly bad influence.
Previous report, former vice chairman of Jiangxi Provincial CPPCC Xiao Yi was expelled from the Party for abusing power to support enterprises engaged in virtual currency mining activities.
6. Data: Starknet TVL Falls Below $100 Million, Down 50% from the Highest Point in Seven Days
L2BEAT data shows that Starknet's total value locked (TVL) has decreased by 51.45% in the past 7 days, currently falling to $97.99 million, with a peak of $203 million on August 16.
7. FTX Bankruptcy Hearing Scheduled for August 24, Discussing Agenda Including Latest Bankruptcy Case Developments
According to ChainCatcher, FTX Trading Ltd has submitted the agenda for the bankruptcy hearing to Judge John T. Dorsey of the U.S. Bankruptcy Court in Delaware, scheduled for August 24 at 01:00 Beijing time. The agenda includes updates on the bankruptcy case, a motion to establish a claims process related to the collapse of FTX, and several lawsuits filed against SBF and other FTX insiders.
8. Wormhole: Established Wormhole Foundation and Will Use $50 Million Fund to Incubate Next-Generation Cross-Chain Startups
Cross-chain protocol Wormhole announced the establishment of the Wormhole Foundation, aimed at supporting those passionate about research and development of blockchain interoperability technologies.
It is reported that the Wormhole Foundation is co-led by Robinson Burkey and Dan Reecer, and will promote innovation through its xGrants program, enabling a $50 million fund to nurture the next generation of cross-chain startups and build a thriving community of developers from around the world.
"What Are the Noteworthy Articles to Read in the Last 24 Hours"
1. 《The Behind-the-Scenes of Crypto Exchanges Entering Vietnam: Over 16 Million Crypto Users, Trading Volume Higher than Singapore》
Although Vietnam is still considered an emerging market in the crypto field, various data show that the number of crypto users in Vietnam has not lagged behind; instead, it ranked first in cryptocurrency adoption in both 2021 and 2022.
However, aside from Axie Infinity, there is not much reporting on the Vietnamese market, leading to a lack of understanding among users, who have long regarded it as a mysterious existence.
Since Vietnam has grown into an important region in the crypto industry that cannot be ignored, quickly understanding the layout of Web3 projects and related enterprises in this market has become an urgent task. As exchanges serve as the first entry point for users into the crypto world, the trading activity of their users is often used to measure the popularity of crypto activities in the local market. So, how is the development of the crypto exchange track in Vietnam?
In China, there are leading exchanges like Binance and OKX, and in South Korea, there are Upbit and Bithumb. What trading platforms are available in the Vietnamese market? What are the criteria for local users when choosing exchanges? This article will systematically outline the current development status of the Vietnamese crypto market and the landscape of crypto exchanges.
2. 《The New L2 Star Base Ecosystem: Traffic Explosion and Overview of 100+ Projects》
This article will summarize the Base ecosystem for readers. According to incomplete statistics, the number of projects in the Base ecosystem has exceeded 100, with a relatively complete scale, where infrastructure occupies a significant portion, including but not limited to bridges, on-ramps, wallets, oracles, and node providers; Base's native DeFi projects also account for a large share of the locked value and trading volume, with many multi-chain DeFi projects like Uniswap and Sushi expanding here; currently, mainstream NFT markets and minting tools like OpenSea and ZORA have also integrated with the Base mainnet.
3. 《Temasek's Web3 Fund Superscrypt: Analyzing the Current State of Blockchain Interoperability, Solutions, and Trends》
With the increase of Layer 1, Layer 2, and application chains, secure, low-cost, and efficient communication methods between blockchains have become more important than ever.
In this article, we will introduce the importance of interoperability, the challenges faced, and the current methods, which is the first part of a series on interoperability.
4. 《Foresight Ventures: Analyzing Friend.tech - SocialFi Revolution or a Gamble?》
Undoubtedly, Friend.tech has become a hot topic. Opening news and Twitter, the praises from KOL investors seem to overflow the screen.
There is nothing new under the sun; Twitter fan tokens are not an innovation. Previous projects like Bitcloud backed by a16z and KOL community projects like Only1 and Monaco seem to have not avoided the fate of fading away.
What makes the newcomer Friend.tech different? Can it bring new opportunities to the long-silent Web3 Social?
