Weekly industry summary: Alibaba Group was fined 18.2 billion yuan, and encrypted payment service providers re-launched XRP

Summary of Hot Spots:

1. Force DAO was hacked, and the project party reorganized internally to make up for the loss.

2. The Anhui police cracked a huge online pyramid scheme involving more than 200 million yuan.

3. Tuniu Travel and Tuhu Auto Support support digital RMB payments.

4. The judge approved Ripple's motion to compel the SEC to provide documents related to Bitcoin and Ethereum.

5. CCTV report: NFT is a reliable proof of the authenticity and ownership of digital assets.

6. Former BitMEX CEO has surrendered to US authorities.

7. UAE Minister of Economy: Cryptocurrency and asset tokenization are the key to doubling GDP.

8. CCTV Finance's "Economy Half Hour" broadcast the program "Break: 40 Billion Coin Circle Scam".

9. 1inch announced to change its name to "1inch Network".

10. Meitu once again purchased 10 million US dollars in bitcoin, and has accumulated a net purchase of approximately 100 million US dollars in encrypted assets.

11. Alibaba Group was fined 18.2 billion and ordered to stop illegal activities.

12. Encrypted payment service provider CoinGate re-launched XRP.

Fundstrat: Year-to-date average weekly investment in the crypto industry is about $800-200 billion: On March 16, research firm Fundstrat said in its latest report to clients that since the beginning of the year, the industry has attracted a weekly investment The average is between $800 million and about $2 billion. Venture capital buyers invested about $4 billion in the cryptocurrency space in the last three weeks of February, with data showing venture capital firms poured an additional $400 million into startups in the space last week. According to data from Lipper, a fund analysis company owned by Refinitiv, U.S. investors pulled a net $7.8 billion from bond funds in the week ended March 9, while global investors are actively investing in crypto. Money funds and companies. (Reuters) [2022/3/16 13:59:16]

Hot text:

1. Force DAO was hacked, and the project party reorganized internally to make up for the loss.

The DeFi quantitative hedge fund Force DAO was hacked. Any user can mint FORCE tokens. The attacker exploited this vulnerability to mint tens of millions of FORCE tokens. Force DAO officials stated that they are aware of the xFORCE contract vulnerability, all other funds of users are safe, and have implemented procedures to ensure that any such incidents are mitigated in the future. The main problem of the Force DAO vulnerability is on the xFORCE contract code ForceProfitSharing.sol. The vulnerability was used by 5 hackers to launch attacks. One of the white hats has returned the obtained FORCE, and several other hackers have arbitraged from it.

yearn.finance: Governance can adjust the rewards of the curve.fi pool every week, and the priority and weight are decided after discussion: yearn.finance officially tweeted that dao.curve.fi/gaugeweight allows governance to adjust the rewards of the curve.fi pool every week , to discuss which pools should be prioritized and the specific weights given. Once decided, these adjustments will remain the default until another proposal makes new adjustments. [2020/8/27]

2. The Anhui police cracked a huge online pyramid scheme involving more than 200 million yuan.

According to recent news from Xinhua News Agency, the police in Hefei City, Anhui Province have cracked a huge online pyramid scheme crime.

According to our understanding, the pyramid sale organization is using the investment platform of Global Fortune Panda Jinyuan to carry out illegal pyramid schemes. Through the offline development of recommended rebates, consumption rebates and other models, the local police quickly set up a special case team to carry out preliminary investigations. The police in the special case team followed the line and collected evidence from multiple sources. Eight major criminal suspects including Sun Moumou were arrested and brought to justice. The current case It is under further review.

3. Tuniu Travel and Tuhu Auto Support support digital RMB payments.

Due to the severe economic crisis, Argentina and Brazil's weekly Bitcoin transaction volume hit a new high: The weekly Bitcoin transaction volume in Argentina and Brazil increased by 169% and 20% respectively compared with the past two months, both hitting new highs. Both countries are currently facing a severe economic crisis, which has been exacerbated by the coronavirus pandemic. With local currency controls making it difficult to find a safe haven in dollars or euros, traders appear to be turning to cryptocurrencies like bitcoin to protect against rising inflation. (decrypt)[2020/8/11]

Domestic news on April 7, the domestic tourism industry - Tuniu travel and car maintenance service platform - Tuhu car maintenance began to support digital renminbi payment. Judging from the new version of the digital renminbi APP test site, state-owned enterprises such as China, Industry, Construction, and Agriculture The logo-zce of "Tuniu Travel" has been added to the sub-wallet option of the bank. The digital renminbi can be used for users to pay for the travel orders of Tuniu Travel and the consumption of Tuhu car maintenance and car service items. The test scenarios of digital renminbi are becoming more and more abundant, and the payment ecosystem is unfolding in multiple directions in the form of online + offline.

4. The judge approved Ripple's motion to force the SEC to provide documents related to Bitcoin and Ethereum.

On April 7, foreign media reported that the current progress of the legal dispute between Ripple and the US Securities and Exchange Commission (SEC). Judge Sarah Netburn (Sarah Netburn) approved Ripple to force the US SEC to provide information related to Bitcoin and Ethereum. The SEC claimed that the documents related to Bitcoin and Ethereum had nothing to do with the Ripple case. This move dealt a big blow to the SEC. Previously, in a motion filed by Ripple in March, attorney Jeremy Hogan stated that the SEC itself seemed unsure whether there was enough evidence against Ripple.

Twitter user: Cash App raises Bitcoin weekly purchase limit to $100,000: Square-developed mobile payments service Cash App appears to have quietly raised Bitcoin weekly purchase limit, but not withdrawals, according to Twitter users quota. A Twitter user said, "Cash App has quietly increased the weekly bitcoin purchase limit from $10,000 to $100,000." Dollar. The CoinGape article stated that Cash App officials have not confirmed the news at present, but this move is timely and further indicates how much reaction may be caused by changes in the price of Bitcoin in the next few days. Bitcoin is about to halve, and the investment community is widely expecting a price increase. As previously reported in April, Square’s Cash App allows users to receive stimulus funds from the U.S. government. (Coin Gape)[2020/5/4]

Ripple's chief technology officer (CTO) David Schwartz pointed out that the nature of Bitcoin and XRP is similar, and Ripple Labs has been granted access to US SEC documents. The price of XRP (Ripple Coin) in the encrypted market rebounded and once broke through the market price of 1 US dollar.

5. CCTV report: NFT is a reliable proof of the authenticity and ownership of digital assets.

Recently, NTF, an encryption hotspot project, appeared on the CCTV CCTV-2 Finance and Economics column, and the column group reported a TV program titled "NFT is a reliable proof of the authenticity and ownership of digital assets". The column mentioned what is NFT, the market recognition and market value of NFT in the form of digital artwork, and pointed out that NFT is different from homogeneous tokens such as Bitcoin, and is based on blockchain technology. To prove the authenticity and ownership of digital assets, the original author of NFT can set the royalty standard at the beginning of creation.

Dynamics | Grayscale: Nearly $10 million in new investments per week, most of which come from institutional investors: According to CCN, Grayscale Investments, the provider behind the Bitcoin Investment Trust, said that it currently has nearly $10 million in new investments per week, most of which Funding comes from institutional investors. [2018/7/19]

6. The former CEO of BitMEX has surrendered to the US authorities.

On April 7, foreign media reported that Arthur Hayes, the former CEO of the US encryption trading platform BitMEX, had surrendered to the US authorities. In October 2020, the U.S. Commodity Futures Commission and the U.S. Department of Justice jointly sued BitMEX. The authorities accused four executives of BitMEX, including founder Arthur Hayes and head of business development Gregory Dwyer, of failing to take adequate measures to prevent money laundering, violating the U.S. Anti-Money Laundering Laws. Afterwards, Arthur Hayes resigned as the CEO of BitMEX. Arthur Hayes surrendered himself and will face the charges. Later, he was released on a $10 million bond, and future lawsuits will be held in New York.

7. UAE Minister of Economy: Cryptocurrency and asset tokenization are the key to doubling GDP.

On April 8, foreign media reported that Abdulla Bin Touq Al Marri, Minister of Economy of the United Arab Emirates, said at a group meeting at the World Economic Forum's Global Technology Governance Summit that cryptocurrencies and asset tokenization will be the key to the UAE's plan to double its GDP. In the group meeting attended by Al Marri, the topics of discussion involved art, real estate and token economy, NFT art and tokenization use cases. Double the size of the economy.

8. CCTV Finance and Economics "Economic Half Hour" broadcast the program "Break: 40 Billion Currency Scam".

On April 8th, CCTV's Finance and Economics CCTV-"Half an Hour of Economy" program broadcast the program "Break: 40 Billion Currency Circle Scam". Under the guise of the blockchain, the virtual currency wallet Plus Token uses the Internet, virtual currency, blockchain technology, etc. to carry out financial crimes, and uses high returns as bait to formulate income models such as smart dog moving bricks, static income, and executive income Pull people to develop members. In just over a year, it has swept more than 100 countries and regions around the world, involving more than 2 million people and involving 40 billion yuan.

9.1inch announced the name change to "1inch Network".

On April 9, 1inch, a DEX aggregator, announced that 1inch has officially changed its name to "1inch Network". 1inch co-founder Sergej Kunz stated that the purpose of the name change is to better reflect the current and future status of the multi-chain, multi-protocol platform, and revealed plans to launch a new protocol and another new protocol on the renamed 1inch Network this month. product.

10. Meitu bought another 10 million US dollars in bitcoin, and has accumulated a net purchase of about 100 million US dollars in encryption assets.

On the evening of April 8, the Chinese image processing and social platform Meitu announced again that it had purchased 10 million US dollars of Bitcoin in open market transactions. US dollar cryptocurrency, the first two purchases were on March 5 and March 17. Earlier, Cai Wensheng, chairman of Meitu, said that Meitu would continue to lay out the blockchain and purchase ETH and BTC digital currencies as a value reserve for long-term development of the blockchain strategy.

11. Alibaba Group was fined 18.2 billion and ordered to stop illegal activities.

On April 10, the State Administration of Market Regulation of China imposed administrative penalties on Alibaba Group in accordance with the law, fined 18.228 billion yuan, and ordered Alibaba to stop illegal activities. Alibaba responded that it sincerely accepted the punishment and resolutely obeyed it.

Since December 2020, the State Administration for Market Regulation has launched an investigation into Alibaba Group's abuse of market dominance in China's domestic online retail platform service market. The competition in the platform service market has infringed upon the legitimate rights and interests of merchants on the platform and harmed the interests of consumers. The State Administration for Market Regulation has punished Alibaba in accordance with the law and fined 4% of Alibaba's domestic sales of 455.712 billion yuan in 2019, totaling 18.228 billion yuan.

12. Encrypted payment service provider CoinGate re-launched XRP.

On April 10, foreign media reported that CoinGate, a Lithuanian encrypted payment service provider, relisted Ripple (XRP). CoinGate relisted XRP as a tradable, payable and acceptable asset for non-US users.

CoinGate’s official website announced that the re-launch of XRP was recently achieved by a lawsuit between the SEC and Ripple Labs The progress made has seen growing demand for XRP in the crypto community, but geo-restrictions are still mandatory due to legal uncertainty over the lawsuit between the SEC and Ripple. According to previous news, CoinGate delisted XRP on January 15, 2021.

ZB real-time hotspot report, the second week of April, this article was originally edited by ZB Research Institute, download ZB APP, the world's leading digital currency exchange: www.zb.today

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