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Weekend Highlights Tips:

1. Prime Minister of Russia: Cryptocurrencies should be integrated into the country's financial system and cryptocurrency mining should be regulated

2. The UK will announce its cryptocurrency regulatory plans in the coming weeks

3. Job postings show that Reddit is developing an NFT platform

4.Metamask reminds users to update the Chrome browser to avoid vulnerabilities in the wallet

5. The Ethereum difficulty bomb is expected to arrive in June, and the Ethereum upgrade "Shanghai" is being drafted

6. Sequoia China plans to raise more than $8 billion through four new funds

7. German energy giant E.ON launches Bitcoin mining pilot project in Hungary

8. Data: The Ethereum network has currently destroyed 2.02 million ETH

Regulatory messages

National Development and Reform Commission: Actively participate in the formulation of international rules and digital technology standards such as digital currency

According to the official website of the National Development and Reform Commission, the Department of Innovation and High Technology Development of the National Development and Reform Commission recently issued the "Announcement on Soliciting Opinions on the "Data Base System View"", which proposes to carry out international exchanges and cooperation in data interaction, business interoperability, mutual recognition of supervision, service sharing, etc., promote the construction of digital trade infrastructure, and actively participate in the formulation of international rules and digital technology standards such as data flow, data security, digital currency, and digital economy taxation.

The Japanese government plans to amend the Foreign Exchange Law to strengthen the control of virtual currency transactions

According to CCTV News, the Japanese government intends to amend the Foreign Exchange Law to strengthen the control of virtual currency transactions and ensure that the transaction objects are non-sanctioned objects. At present, a draft amendment to the Foreign Exchange Act has been submitted to the Diet of Japan.

Prime Minister of Russia: Cryptocurrencies should be integrated into the country's financial system and cryptocurrency mining should be regulated

According to Russian media reports, Russian Prime Minister Mikhail Mishustin said it was necessary to integrate cryptocurrency circulation mechanisms into the country's financial system. In a meeting with LDP members, Mishustin stressed that issues related to cryptocurrency regulation can only be resolved in conjunction with the central bank to assess the risks posed by cryptocurrencies to the circulation of Russian currency. He added that measures should be taken to further regulate cryptocurrency mining.

EU lawmakers will vote to block anonymous crypto payments

Members of the European Parliament are likely to vote at a committee meeting next week to block anonymous crypto payments, including micropayments, CoinDesk reported. Lawmakers at the European Commission for Economic Affairs are also preparing to add crypto transfers to self-custodial or private wallets ( also known as non-custodial wallets ) in anti-money laundering (AML) checks. Under current law, any bank transfer in excess of €1,000 requires the identification of the payee. EU governments have said they want to remove that lower limit when extending the rule to crypto assets, as large transactions can be broken down into smaller ones. Internal council documents also show that lawmakers will also warn crypto service providers not to make or facilitate any transfers deemed to be at high risk of money laundering or crime.

The South Korean exchange will restrict cryptocurrency transfers in excess of $821

Watcher.Guru tweeted that the South Korean exchange will restrict the transfer of cryptocurrencies worth more than $821 to user verification wallets.

Source: The UK will unveil its cryptocurrency regulatory plans in the coming weeks

According to CNBC, sources said that Uk Chancellor of the Exchequer Sunak is expected to announce a new cryptocurrency regulatory regime in the coming weeks. The statement will focus specifically on stablecoins as well as some digital assets whose value is pegged to existing currencies such as the US dollar. The UK Treasury has been in discussions on this with a number of companies and trading groups, including cryptocurrency exchange Gemini. Sources said the scheme could be beneficial to the industry, providing legal transparency for the cryptocurrency industry.

NFT

Job postings indicate that Reddit is developing an NFT platform

According to public job postings, reddit is hiring engineers and managers for its new NFT marketplace platform. Reddit calls NFT currently "the most explosive movement in the crypto world" and is revolutionizing online gaming and the way digital assets are owned in the metaverse. The job ad mentions that the new team will "build the largest creator economy on the Internet, powered by independent creators, digital goods, and NFTs," with the basic goal of creating a system where users can "create NFTs to trade with other Redditors and earn financial income by selling goods." Reddit says it has seen the community grow around NFT collections, and the company hopes to further foster a "sense of engagement and belonging" in the Reddit community.

Former South African President Mandela's arrest ordered the NFT auction to raise $130,000

According to Bloomberg, NFT market Momint raised a total of $130,000 through an auction of former South African President Mandela's arrest warrant NFT, which will be donated to the Liliesleaf Museum. Momint CEO Ahren Posthumus said the donation was made to keep the museum operational during the pandemic and that NFT holders would be able to access the original documents of the arrest warrant in the museum.

The Ministry of Digital Transformation of Ukraine will launch the NFT Museum to document the Russo-Ukrainian War and raise donations

According to CoinDesk, ukraine's ministry of digital transformation will launch the MetaHistory NFT Museum, which aims to record the beginning and end of the Russian invasion of Ukraine on the blockchain, preserve memories of real events, and raise donations to support Ukraine. The museum will showcase NFTs in the form of digital art, combined with written records. A project representative said that the first NFT series may be released as early as March 29, each NFT will be sold for 0.15 ETH, and all profits from the first sale will go to the wallet of the Digital Transformation Department, and these funds will be used for humanitarian assistance work in Ukraine.

Italian luxury brand Giuseppe Zanotti released 1,000 COBRAS sneaker NFTs

Italian luxury shoe brand Giuseppe Zanotti has officially entered the cryptocurrency space and has partnered with NFT communities DeadFellaz and neuno Marketplace to attend Meta-Universe Fashion Week events at Decentraland, Vman reported. In addition, Giuseppe Zanotti released 1,000 NFTs for its well-known sneaker brand COBRAS, which not only allows NFT holders to use digital sneakers to dress up avatars to express their personality, but also get discounts when buying physical sneakers.

Former Universe

Decentraland lot A11 sold for 220,000 MANA

OpenSea data shows decentraland lot A11 sold for 220,000 MANA, or about $569,800. Meanwhile, NFTGo.io data shows that the current Decentraland floor price has risen to 3.29 ETH, a 24-hour increase of 0.80%, a market capitalization of more than $100 million, and a total transaction volume of $148.35 million.

Project dynamics

Chengdu Chain An: InuSaitama is suspected of being arbitrage attacked, losing about 430 ETH

According to the analysis of chengdu chain security technical team, InuSaitama is suspected of being arbitrage attacked, and the attacker (0xAd0C834315Abfa7A800bBBB5d776A0B07b672614) exchanged almost 10 times the value of SAITAMA Token through swap in Saitamask (0x00480b0abBd14F2d61Aa2E801d483132e917C18B). It is then exchanged back to ETH through uniswap and transferred to 0x63493e679155c2f0aAd5Bf96d65725AD6427faC4, making a total profit of about 430 ETH.

Reminder: Metamask users please update your Chrome browser to avoid a vulnerability to your wallet

According to Forbes, Google has issued an emergency security warning and has released Chrome 99.0.4844.84 for Windows, Mac, and Linux users to address a high-severity zero-day vulnerability that has been attacked externally. Shenyu and many other encryption KOLs prompted users to urgently update Chrome and Chrome kernel browsers to the latest version to avoid the Metamask wallet from being attacked by vulnerabilities and causing property damage.

BlockSecAlert: Revest Finance has been re-entrant, and the RVST token contract has now been suspended

The BlockSec alert system detected a Revest Finance project being subjected to a reentrant attack (attack transaction: https://etherscan.io/tx/0x19b10c6d38f0b911fdc0e722d681a70a56699d70559eefef3d4d6fe88276c813) at 10:04 a.m. on March 27 for the following reasons: 1) Next The NFT id (FNFTHandler.getNextId) is updated after the mint, so the reentrancy (in ERC1155 mint) is able to create an NFT on the current id 2) mapFNFToToken overwrites the status of the token id without checking.

At present, the project party has suspended the token contract (https://etherscan.io/tx/0x18fd1a2b17109c7f2bb7244d99bcfb71d131fd9d522fdc41b8a9fb3cdded9c98)

Musk: We're thinking about building new social media platforms

Some netizens asked Tesla CEO Musk whether he would consider building a new social media platform composed of open source algorithms, where free speech is given the highest priority and publicity is minimized. Musk responded by saying he was seriously considering the matter. Musk had earlier said that free speech is essential to the functioning of democracy and questioned whether Twitter strictly adheres to the principle of free speech.

Sberbank, Russia's largest bank, obtained a license to issue digital assets

According to Bloomberg, Russia's central bank has granted the country's largest bank, Sberbank, a license to issue and exchange digital assets. Sberbank is now ready to issue its own digital assets to attract market investment. Sergey Popov, head of Sberbank's trading business unit, said the bank is just getting started with digital asset-related work and expects to be able to complete its first transaction on its blockchain platform within a month.

The public chain project Porta Network announced that it would stop operations, and the founders were accused of fraud

Shane Benjamin, CEO and founder of the public chain project Porta Network, announced that the project will cease operations. The project was stolen about 600,000 USDT in November 2021 and has since come to an end despite cutting costs and raising capital to sustain the company. However, Emmanuel Aremu, a former marketing director at Porta Network, said that the project's founder Shane is the only person who controls the company's funds and wallets, and he withdrew all liquidity from PancakeSwap, but other team members objected to this. "For what Shane has done, and his continued lack of remorse, I hope he will be prosecuted and sent to jail for wire fraud or any other applicable crime." I will do everything in my power to support this outcome. It is reported that the Porta Network is a blockchain project built on Substrate and aims to become a gateway to the World of Web3. The project, formerly known as Kianite, announced $1.5 million in financing in April 2021.

The Ethereum difficulty bomb is expected to arrive in June, and the Ethereum upgrade "Shanghai" is being drafted

Ethereum core developer Tim Beiko has released the latest core developer conference content, including a difficulty bomb, a "Shanghai" upgrade, the progress of Ethereum's execution layer, and a Protocol Guild program for client developers. The Kiln testnet has recently been launched and is currently stepping up testing consolidation to ensure that all implementations are secure and stable. In the future, if everything is ready, The Merge will be run on existing testnets such as Ropsten, Goerli, Sepolia, etc. Meanwhile, the Ethereum difficulty bomb is expected to arrive in June. At present, the next Ethereum upgrade "Shanghai" is being drafted, and the planned upgrade mainly includes EVM upgrade, activation of beacon chain withdrawals, and reduction of Layer2 fees. The executable specifications of ethereum's execution layer are progressing well, and the next step is to merge the EL+CL process. Protocol Guild, a program designed to provide Ethereum project token compensation to client developers and researchers, now has more than 100 members and is about to launch a pilot.

The decentralized leverage protocol Gearbox has a security breach and the protocol has been suspended

Decentralized leverage agreement Gearbox tweeted that after receiving a vulnerability report from Immunefi, the credit account has been suspended by technical multi-signature, the agreement has been suspended, and there is no risk of funds. At present, the project has fixed the vulnerability and will be deployed soon.

Financing messages

Source: Sequoia China plans to raise more than $8 billion through four new funds

According to Sources, Sequoia China plans to raise more than $8 billion through four new funds, Citing Sources. The four new funds will include a seed fund for early-stage trading, a venture fund for start-ups, and two funds for more mature private companies. Negotiations are still ongoing and the scale of funding is likely to change.

Previously, Sequoia China had invested in Solana's DEX platform Slope Finance, Amber Group, Animoca Brand, etc.

Mining news

German energy giant E.ON launches a bitcoin mining pilot project in Hungary

According to the official website, German energy giant E.ON has been operating a bitcoin mining pilot project at its Hungarian subsidiary since October last year. E.ON is germany's largest power company with total assets of $130 billion.

Important data

Luna Foundation Guard holds more than 20,000 bitcoins worth approximately $946 million

According to official sources, the Luna Foundation Guard, a Terra ecological development organization, announced that it holds 21323.07 bitcoins, which are currently worth more than $946 million. According to previous news, Luna Foundation Guard completed a $1 billion financing through an over-the-counter token sale in February this year, led by Jump Crypto and Three Arrows Capital, and the new funds will be used to establish a decentralized UST foreign exchange reserve denominated in Bitcoin.

Data: The Ethereum network has currently destroyed 2.02 million ETH

Ultrasound data shows that as of now, the Ethereum network has destroyed a total of 2020815.73 ETH. Among them, OpenSea destroyed 230045.01 ETH, ETHtransfers destroyed 192064.79 ETH, and UniswapV2 destroyed 127537.61. Since the introduction of EIP-1559 in the Ethereum London upgrade, the Ethereum network will dynamically adjust the BaseFee of each transaction based on transaction demand and block size, and this part of the fee will be directly burned and destroyed.