Uncle Yu’s blockchain weekly report brings you a summary of the information of the week.

Time: 2.12 - 2.18

This week’s topic words: BUSD, SEC, CFX

Big news this week

  1. SEC sued Paxos for illegally issuing BUSD;

  2. Binance and Paxos terminate BUSD cooperation;

  3. BLUR was successfully launched and a large-scale airdrop was carried out;

  4. The monthly rate of US CPI in January was 0.5%, in line with expectations;

  5. The U.S. core CPI annual rate at the end of January was 5.6%;

  6. Soros Fund Management invests in cryptocurrency companies such as MicroStrategy;

  7. The Stargate Foundation initiated the "introduction of GSR as a market maker and allocated 8 million STG two-year European options". In order not to affect the market, the project team will no longer disclose the actual exercise price;

  8. China Telecom to pilot blockchain-enabled SIM cards in Hong Kong in partnership with CFX;

  9. WSJ: Binance expected to pay fine to resolve US scrutiny;

  10. Mingxing Xu: The new OKB Chain will be launched in Q1 to build the OKB decentralized ecosystem;

  11. zkSync official Twitter announced that zkSync Era mainnet is officially launched, and zkSync 2.0 is renamed zkSync Era;

  12. The US SEC has sued Terraform Labs and Do Kwin for securities fraud;

  13. Avalanche ecosystem stablecoin USP suffered an attack;

  14. Blockchain game guild YGG completed a $13.8 million financing round, led by a16z and DWF Labs;

Uncle Yu's Market View

The most important thing this week is that "BUSD encountered scrutiny from the US SEC", and Binance officially announced that it would terminate its cooperation with Paxos, and the life of BUSD will come to an end.

For analysis and opinions on BUSD, please read my other article.

When Binance encountered various setbacks, OKX, the second-in-command of CEX, was doing very well. Whether it was the launch of OKB Chain or the launch of BLUR trading, it brought a lot of traffic to OKX, which can actually be seen from the price trend of OKB. Maybe all market conflicts are borne by the big brother, so the younger brother can develop without any pressure.

Another eye-catching news in the market this week is the cooperation between CFX and Telecom. As soon as this news was released, the price of CFX currency and Telecom stock price immediately increased. It can be said to be a win-win project. However, news is news. Whether the blockchain SIM card can be implemented is still under discussion. In addition, the mainstream communication operators in Hong Kong are not the "big three" in China. It is also a great challenge to promote Telecom cards in Hong Kong.

However, I still appreciate the idea of ​​introducing blockchain into SIM cards. Compared with Solana's web3 mobile phone, SIM card-based blockchain technology can greatly reduce the user's usage cost and is a technology worth observing in the long term.