Arrangement: Fairy, ChainCatcher
Important Information:
Shenzhen Qianhai Court: Virtual currency cannot be used as a method of salary payment
Paidun: XT Exchange may have been hacked, losing about $1.7 million in cryptocurrencies
Binance announced that BNSOL Super Staking will launch the first phase of the project Pyth Network (PYTH)
Metaplanet plans to raise about $62 million to buy Bitcoin
21Shares Launches PYTH, ONDO, RNDR and NEAR ETPs in Europe
Hong Kong plans to exempt cryptocurrencies from tax for hedge funds, super-rich families
Scroll Lianchuang: Admits that the airdrop design is poor, and the team wallet did not claim the airdrop
a16z general partner Sriram Krishnan is leaving and may join Musk's government efficiency department
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Shenzhen Qianhai Court: Virtual currency cannot be used as a method of salary payment
According to Shenzhen News Network, the Shenzhen Qianhai Cooperation Zone People's Court recently made a judgment on a labor dispute case involving virtual currency wage payment. The case originated in June 2021, when the plaintiff Zhou Mou joined a certain company as a senior engineer, claiming that he and the company agreed on a monthly salary of 45,000 yuan, of which 20,000 yuan was paid by bank transfer and the other 25,000 yuan was paid in USDT. Two months later, the company terminated the labor contract on the grounds of "skill mismatch", but did not pay the agreed virtual currency portion of the salary.
The court determined that according to the Notice on Further Preventing and Dealing with the Risks of Speculation in Virtual Currency Transactions issued by the central bank and ten other departments in September 2021, virtual currencies including Bitcoin, Ethereum, and USDT are not legal tender. At the same time, Article 50 of the Labor Law and Article 5 of the Interim Provisions on Wage Payment clearly stipulate that wages must be paid monthly in legal tender and may not be replaced by other forms.
In the end, the court only supported the plaintiff’s claim of illegal termination of the labor contract and ordered the company to pay 10,000 yuan in compensation. The Shenzhen Intermediate People’s Court upheld the original judgment in the second instance.
Paidun: XT Exchange may have been hacked, losing about $1.7 million in cryptocurrencies
According to Pioneering Security, XT Exchange appears to have been hacked, resulting in a loss of approximately $1.7 million in cryptocurrency. The hacker has converted the stolen funds into 461.58 ETH.
Binance announced that BNSOL Super Staking will launch the first phase of the project Pyth Network (PYTH)
According to the official announcement, Binance announced that BNSOL Super Staking will launch the first project - Pyth Network (PYTH).
Between 08:00 on December 2, 2024 and 07:59 on December 17, 2024 (ET), users who hold BNSOL in their Binance accounts and Web3 wallets, or stake SOL to BNSOL, will receive the PYTH APR Boost airdrop reward.
These PYTH APR Boost airdrop rewards are additional token airdrops provided on top of the BinanceSOL staking base annualized interest rate, providing users with a higher rate of return.
Metaplanet plans to raise about $62 million to buy Bitcoin
Japanese listed company Metaplanet announced plans to raise up to 9.5 billion yen (about 62 million U.S. dollars) through new share subscription rights to accelerate Bitcoin accumulation.
21Shares Launches PYTH, ONDO, RNDR and NEAR ETPs in Europe
According to Crypto.news, Swiss wealth management company 21Shares has added four ETPs to its European products, namely PYTH, ONDO, RNDR and NEAR, covering the fields of price oracles, asset tokenization, decentralized computing and artificial intelligence.
In addition, 21Shares will allow investors to reinvest NEAR staking rewards into the ETP. 21Shares noted that reinvesting rewards can improve the performance of its NEAR ETP and lead to greater customer returns. All four ETFs will be traded on exchanges in cities such as Amsterdam and Paris.
Hong Kong plans to exempt cryptocurrencies from tax for hedge funds, super-rich families
Hong Kong plans to exempt private equity funds, hedge funds and investment vehicles of the super-rich from tax on gains on cryptocurrencies, private credit investments and other assets.
This week, the Hong Kong government said in a 20-page proposal that taxation is “one of the main considerations” for asset managers when deciding where to do business and that it wants to create a “favorable environment” for them.
Under the proposal, which is in the midst of a six-week consultation process, the Hong Kong government wants to expand tax-free investments to include private credit, overseas real estate and carbon emissions credits.
Scroll Lianchuang: Admits that the airdrop design is poor, and the team wallet did not claim the airdrop
In response to the accusation of Movement co-founder Rushi Manche, Scroll co-founder Sandy published a number of responses today, including the following key information:
Acknowledge that the airdrop design was poor and hurt some users in the community, and will make up for it through Session 2;
The team wallet did not claim the airdrop. In order to avoid confusion in the future, the points of the relevant wallets will be removed;
Never forced team members to subscribe to tokens at the last round of valuation;
The team is being reorganized to adapt to the next stage of development. Some team members will leave, and we believe they will shine in their new positions.
Earlier news, Movement Labs co-founder Rushi Manche accused the Scroll team of having many problems and damaging the reputation of the EVM L2 ecosystem.
SlowMist: The JUMPFUN project is suspected of suspicious behavior, please pay attention to the risks
SlowMist Yuxian posted on X: “According to the feedback from the SlowMist Zone Intelligence Officer, the JUMPFUN project (@jumpdotfun) is suspected of suspicious behavior. After analyzing the project contract and transaction records, we found the following suspicious situations:
The JUMPBonusPool contract was originally designed with two core mechanisms:
1. Bonus pool mechanism: The last 5 users who participated in the donation can share the accumulated ETH bonus equally
2. Time extension mechanism: Every time a user makes a donation, the game time will be automatically extended by 30 seconds
Yesterday, the project owner used the owner permission to modify the JUMPBonusPool contract pointed to by the JUMPTreasury contract twice through the setEmergencyBonusPool function.
This modification makes it impossible for users to participate in the jackpot competition of the JUMPBonusPool contract that has accumulated bonuses before through normal donations. It is worth noting that the newly replaced JUMPBonusPool contract has not been open sourced.
These actions are seriously inconsistent with the activity rules previously disclosed by the project owner, and there are obvious violations. All participating users are reminded to pay attention to the risks and participate with caution. "
Movement Co-founder accused the Scroll team of multiple misconducts, which damaged the reputation of the EVM L2 ecosystem
Rushi Manche, co-founder of Movement Labs, publicly accused the Scroll team of many problems on the X platform, including:
The community has been building for many years, but has launched a predatory incentive plan, which ultimately shifts the burden to ordinary investors.
The team spent the years before launch selling secondary market share.
The rest of the team was forced to buy in at a $1.8 billion valuation, while senior leadership was selling at the same time.
The Scroll team directly allocated the airdrop to their own wallets and then cashed out.
The most predatory token economic model has been designed to harm every community member.
Manche accused the Scroll team of damaging the reputation of the EVM L2 ecosystem and called on it to make improvements to avoid "making it look like a complete scam."
Bitwise Submits 10 Cryptocurrency Index ETFs to the US SEC
Bitwise submitted 10 cryptocurrency index ETFs to the U.S. Securities and Exchange Commission (SEC), including: Bitcoin, XRP, Solana, Cardano, Uniswap, Polkadot, Chainlink, Ethereum, Avalanche, and Bitcoin Cash.
Trump nominates five "cryptocurrency players" as new government ministers
President-elect Trump announced the nomination of Brooke Rollins as Secretary of Agriculture. So far, all the cabinet ministers of Trump's new administration have been confirmed. In addition, Trump has nominated several high-level officials in the past few weeks. Judging from the list of the new government, in addition to Musk, Howard Lutnick and other well-known names in the crypto market, many cabinet officials are firm supporters of cryptocurrencies and have publicly disclosed their cryptocurrency holdings, including the nominated vice president, secretary of the treasury, secretary of commerce, secretary of health and human services, director of national intelligence, etc.
a16z general partner Sriram Krishnan is leaving and may join Musk's government efficiency department
Sriram Krishnan, a general partner at venture capital firm Andreessen Horowitz, is leaving the company after reportedly holding discussions with Elon Musk about joining his government efficiency unit, The Information reports.
"What are the interesting articles worth reading in the past 24 hours?"
Dialogue with RootData List Institutions｜ABCDE Lianchuang BMAN: Heavy Investment in AI in 2025
During Devcon in Bangkok, Web3 asset data platform RootData and ChainCatcher jointly held the "DeInsight 2024" annual summit and officially released (RootData: 2024 Web3 Industry Development Research Report and Annual List) (click the link to view the full report and list).
The report analyzes and interprets in detail the development characteristics of the Web3 venture capital market in 2024, and releases the RootData List 2024. This list is the second annual selection launched by RootData after its first release in 2023. The results of the list are being paid attention to by more entrepreneurs, investors, LPs and pan-Crypto enthusiasts.
RootData List 2024 covers five lists, namely: Top 50 projects (completed TGE), Top 50 projects (not conducted TGE), Crypto VC Top 50 investment institutions, Top 10 angel investors, and Top 20 best CEOs.
ChainCatcher will publish a series of articles to talk with the projects and institutions listed on the RootData List 2024, looking for builders who have survived the bull and bear markets and tracking the latest trends in Web3.
ABCDE Capital, the listed institution in today's conversation, was selected into the RootData List 2024 annual list of "Crypto VC Top 50 Investment Institutions".
ZKasino refused to refund, and now embezzled customer funds to speculate in cryptocurrencies and made a profit of more than $3 million
In April this year, ZKasino, a decentralized betting platform of ZK Ecosystem, was caught in a "runaway" storm: tampering with the website event introduction, refusing to return the ETH pledged by users to participate in the event, closing Telegram speaking rights, canceling the offline meeting in Dubai, and arbitrarily transferring user funds to Lido for staking... Many users suspected that ZKasino had "soft rug". On May 28, ZKasino officially responded that it had started a 2-step bridge return process, and bridgers could register and return their ETH at a 1:1 ratio. In the next few days, it will collect registration data, release a new announcement as soon as possible, and provide data for public verification.
However, as of August 14, the decentralized entertainment platform ZKasino, which had previously "run away", had not yet refunded the funds raised by investors, and the funds raised by investors still remained in the original two addresses.
The two major "VC coins" are arguing with each other under real names. Who should we stand on?
The Ethereum ecosystem has just experienced a reversal in the past two days, but the Ethereum community is not calm. Former team members of the zkRollup project Scroll and the co-founder of Movement, which just finished the test network and announced the airdrop, quarreled. Scroll accused Movement of code plagiarism, and Movement, in turn, said that the Scroll team behaved improperly and damaged the reputation of the Layer 2 ecosystem. At present, the official members of the Scroll team have not officially responded.
