Today's news tips:
1. Foreign media: Japan's Financial Services Agency issued a warning to four crypto exchanges including Bybit and MEXC
2. South Korean prosecutors have searched and seized more than $200 million worth of real estate owned by Terra executives and employees
3.Bilibili launches the High Energy Chain App to manage user digital assets
4. MEV robot was attacked and lost about 25 million US dollars. The funds were replaced during the bundle transaction process.
5. Re7 Capital and Republic Crypto partner to launch $100 million crypto fund RxR Opportunities Fund
6. Data: Uniswap's spot market trading volume exceeds $70 billion, surpassing Coinbase
7. Report: DeFi's total locked-in volume in the first quarter reached $83.3 billion, a month-on-month increase of 37.44%
8. Data: The total amount of financing in the crypto market in March reached US$769 million, a decrease of nearly 19% from the previous month
Regulatory News
Foreign media: Japan's Financial Services Agency issued a warning to four crypto exchanges including Bybit and MEXC
According to CoinPost, on March 31, the Japanese Financial Services Agency issued a warning to four overseas crypto exchanges, Bybit, MEXC, Bitget and Bitforex, for providing cryptocurrency trading without being registered in Japan, according to the business guidelines. Bitforex is headquartered in the Republic of Seychelles, while Bybit, MEXC Global and Bitget are headquartered in Singapore.
NFT
ParaSpace launches incentive program, points can be exchanged for project tokens in the future
According to the official Twitter, NFT lending protocol ParaSpace announced the launch of an incentive program, in which users' behaviors and activities will be rewarded with points, which will be exchanged for ParaSpace tokens through airdrops when ParaSpace releases tokens. Before the end of the second quarter (June 30, 2023), ParaSpace will increase the reward points earned by users to 300%.
According to official documents, valid behaviors for earning points include lending, participating in APE staking, and purchasing on credit. ParaSpace plans to speed up the process of launching governance tokens after completing the development of core products and functions.
Project News
Arbitrum administrator: Part of the transfer of 2.694 billion ARB uses CoinBase custody account to enable custody unlocking service
Regarding the transfer of 2.694 billion ARB by the Offchain Labs team, the Future team and consultants to 140 EOA addresses, Arbitrum DAO community administrator eli said that some tokens were transferred to CoinBase's custody account with a lock-up period of 4 years, aiming to use CoinBase's custody unlocking service.
Earlier today, Lookonchain said that the approximately 2.7 billion ARB tokens previously allocated should have a 4-year lock-up period, and some ARB tokens have been transferred to exchanges. Previously, Arbitrum officials clarified that 50 million ARB tokens were not sold and have been used to issue loans and pay operating expenses. Arbitrum also promised to revise the AIP-1 split proposal this week, and AIP-1 currently has a majority of votes against it.
South Korean prosecutors have searched and seized more than $200 million worth of properties owned by Terra executives and employees
According to KBS, the Financial and Securities Crime Joint Investigation Team of the Seoul Southern District Prosecutors' Office in South Korea searched and preserved about 270 billion won (about 205 million U.S. dollars) of property in order to recover the improper benefits of eight people including Terraform Labs co-founder Daniel Shin. These assets are three properties worth 154.1 billion won, 79.1 billion won and 40.9 billion won. Collection preservation is a measure to prevent suspects from arbitrarily disposing of property obtained from suspected crimes during the trial.
In addition, prosecutors have frozen the real estate, vehicles and stock assets of early investors and employees named as suspects in the case.
MEV robot suffered a loss of $20 million due to funds being replaced during bundle transactions
Twitter user @GaoFlynn wrote: "Several MEV arbitrage big players have been hit hard. There is a malicious actor in one link of the entire mechanism chain, from builder to relayer to validator. This may be the first major turning point that shakes the entire MEV ecosystem. The simple explanation is that the hacker got the bundle transaction of the big sandwich arbitrage bot. There are 3 transactions in the bundle: 1. Large-scale buy, 2. Transactions of sandwiched users, and 3. Large-scale sell. The hacker got this bundle, disassembled the bundle, replaced 2 with his own transaction, and exchanged the bot's funds for cheap tokens. Then the 3rd step transaction failed."
In addition, according to a tweet from @punk3155, some MEV robots were attacked as described above, with total losses reaching $20 million.
Bilibili launches the High Energy Chain App to manage user digital assets
According to IT Home, Bilibili recently launched an app called "Gaoneng Chain". Officials said that the Gaoneng Chain App is a chain tool product based on the Gaoneng Chain, with functions such as chain address management and on-chain asset viewing/search. Users can manage their own on-chain assets in one stop, and it is also the entrance to the Gaoneng Chain ecosystem.
After downloading and experiencing, this App supports viewing bilibili digital collections, searching for addresses on the chain, and viewing address chain asset information. In addition, the official website of Bilibili stated that this product can currently be used in Bilibili, DoDo, and Gaoneng Chain.
Earlier in December 2021, it was reported that Bilibili tested the "High Energy Chain" and launched the "Metaverse" business.
Digital asset platform Bakkt completes acquisition of crypto trading infrastructure firm Apex Crypto
According to Fortune, digital asset platform Bakkt Holdings (BKKT) announced on Monday that it has obtained regulatory approval to acquire crypto trading infrastructure provider Apex Crypto. Bakkt paid a total of US$55 million in cash and US$100 million in stock.
PancakeSwap launches V3 on BNB Chain and Ethereum
According to CoinDesk, the decentralized exchange (DEX) PancakeSwap has launched its V3 version on the Ethereum and BNB chains. The upgraded platform will offer the cheapest fees and increase returns for liquidity providers (LPs). V3 will introduce four different transaction fee tiers: 0.01%, 0.05%, 0.25% and 1%. PancakeSwap V3 also introduces features to improve the capital efficiency of the platform. In the future, PancakeSwap V3 will launch two new features: the V3 "VIP" trading reward program and position management functions. Both features are currently under development and are expected to be launched soon.
Re7 Capital and Republic Crypto Partner to Launch $100 Million RxR Opportunities Fund, Focusing on Small and Mid-Cap Crypto Tokens
According to The Block, Re7 Capital and Republic Crypto have partnered to launch the $100 million RxR Opportunities Fund to invest in liquidity tokens, which focuses on small and medium-sized cryptocurrencies. The fund has a one-year liquidity lock-up period and then unlocks it every quarter. It focuses on building a position that it hopes to hold for one to three years.
Financing News
Crypto payment service provider Alchemy Pay receives $10 million investment from DWF Labs
According to CoinDesk, crypto payment service provider Alchemy Pay has received a $10 million investment from market maker DWF Labs at a valuation of $400 million to expand its business in South Korea.
The company provides a way for cryptocurrency companies to access fiat payment systems, and the new funds are aimed at helping local Korean companies achieve greater internationalization. To this end, it has previously worked with companies such as Visa, Mastercard, Google Pay and Apple Pay.
Important data
Data: Uniswap's spot market trading volume exceeds $70 billion, surpassing Coinbase
According to data from The Block Research, Uniswap’s spot market trading volume reached $71.6 billion in March — 45% higher than Coinbase. Coinbase’s trading volume last month (March) was $49.4 billion, up from $40 billion in February. Coinbase’s trading volume was lower than that of decentralized exchange Uniswap for the second consecutive month.
Data: NFT sales in March were approximately US$882 million, down approximately 31% from the previous month
According to CryptoSlam data, NFT sales fell 31.42% month-on-month in March, from $1.03 billion in sales in February to $882.89 million. Of these sales, $537.89 million were settled on the Ethereum blockchain, which accounted for more than 60% of sales in March. Solana-based NFT sales accounted for 10.57% of sales in March, recording $93.36 million, followed by Polygon ($36.16 million), Immutable X ($28.82 million), and Cardano ($10.08 million).
The best-selling NFT series in March was Bored Ape Yacht Club (BAYC), which generated $35.81 million in sales, although this figure was down 48.19% from the previous month. Cryptopunks was the second-most sold NFT series, with sales of $30.11 million, up 87.95% from February.
Report: DeFi's total locked-in volume in the first quarter reached $83.3 billion, a month-on-month increase of 37.44%
According to the DappRadar report, the total locked-in amount of DeFi in the first quarter of 2023 reached 83.3 billion US dollars, an increase of 37.44% from the previous quarter. Second-layer solutions such as Arbitrum, Fantom and Optimism made great contributions. Among them, the locked-in amount of Arbitrum reached 3.2 billion US dollars, an increase of 118.40%; the locked-in amount of Optimism reached 1 billion US dollars, an increase of 85% from the previous quarter.
In terms of blockchain, Ethereum ranked first with a DeFi locked-in volume of US$55.8 billion in the first quarter, accounting for 66.95%. BNB Chain ranked second with a DeFi locked-in volume of US$7.2 billion during the same period. Tron ranked third with a DeFi locked-in volume of US$5.2 billion.
Data: The total amount of financing in the crypto market in March reached US$769 million, a decrease of nearly 19% from the previous month
According to statistics from the crypto data platform RootData, a total of 84 investment and financing events were disclosed in the crypto market in March 2023, a decrease of 31.14% from 122 in February. The total financing amount in March was approximately US$769 million, a decrease of 18.71% from US$946 million in February; among them, infrastructure, DeFi, and games were the top three tracks in terms of financing amount, which were US$363 million, US$117 million, and US$101 million, respectively.
In addition, the top three projects in terms of financing amount are cryptocurrency hardware wallet Ledger ($108 million), Ethereum re-staking protocol EigenLayer ($50 million), blockchain platform based on artificial intelligence and machine learning Fetch.ai ($40 million), independent game developer CCP Games ($40 million), and decentralized Internet alternative tomi ($40 million).
