Compiled by: flowie, ChainCatcher
“What important events have occurred in the past 24 hours?”
1. zkSync may announce airdrop and mainnet today
Many zkSync ecosystem projects including SpaceFi, Argent, Across, and zkRock released short videos with the words "03.24.23" and the zkSync "n" logo. According to community speculation, zkSync may announce airdrops and mainnet-related matters today.
In addition, the official account of zkSync announced that it will hold a Twitter Space at 11:00 EST today, with participants including Matter Labs CEO Alex G, Chief Engineer Anthony Rose and other core members. (Source link)
2. Data: The top five ARB buyers on the chain purchased a total of more than 13 million ARBs, with a unit price ranging from US$1.28 to US$1.38
According to Lookonchain statistics, the top five ARB whale buyers on the chain purchased a total of more than 13 million ARBs at a unit price of $1.28 to $1.38. The specific data is as follows:
1. The address starting with 0xb154 purchased 4.94 million ARBs with 3,700 ETH (US$6.79 million) at a unit price of US$1.38; 2. The address starting with 0xb0fc7 purchased 2.74 million ARBs with 3.52 million USDC at a unit price of US$1.28. This address has earned US$1.77 million in transaction fees by providing liquidity for ARB on Uniswap; 3. The address starting with 0x139e3 purchased 2.61 million ARBs with 3.56 million USDC and USDT at a unit price of US$1.36; 4. The address starting with 0xf53fe purchased 1.53 million ARBs with 1.95 million USDC at a unit price of US$1.28; 5. The address starting with 0xa161a purchased 1.49 million ARBs with 1.99 million USDC at a unit price of US$1. $1.33. (Source link)
3. Tether CTO: Tether's profit in Q1 was about US$700 million, and its excess reserves reached US$1.66 billion
According to CNBC, Paolo Ardoino, CTO of USDC issuer Tether, said that Tether will realize a profit of $700 million in the first quarter of 2023 and bring its excess reserves (the part of the reserve funds that exceeds the amount of USDT issued) to $1.66 billion. Paolo Ardoino said this is the first time that USDT's excess reserve funds have exceeded $1 billion. (Source link)
4. Data: Ethereum Layer2 network TVL exceeds $9 billion, setting a new record high
According to L2BEAT data, the total locked value (TVL) of the Ethereum Layer 2 network has exceeded US$9 billion, a record high, and is currently about US$9.01 billion. Among them, the TVL on Arbitrum One is about US$5.98 billion, and the TVL on Optimism is about US$2.02 billion, accounting for nearly 90% of the total TVL. (Source link)
5. Do Kwon transferred $4.5 million to a South Korean law firm in July and August last year
According to Digital Asset, the Financial Crimes Unit of the Seoul Southern District Prosecutors' Office discovered that Terraform Labs CEO and founder Do Kwon transferred $4.5 million to a South Korean law firm in July and August 2022. Sources also said that Do Kwon continued to transfer money to the law firm after traveling to Serbia via Dubai in September 2022.
It was previously reported that after Do Kwon was arrested by Montenegrin authorities, U.S. prosecutors filed criminal fraud charges against Do Kwon and sought to extradite Do Kwon to the United States. South Korean prosecutors also sought to extradite Do Kwon. (Source link)
6. Cathie Wood's Ark Fund purchased $17.8 million of Coinbase shares
According to The Block, on March 23, Cathie Wood's Ark Invest purchased nearly $18 million worth of Coinbase shares through two funds.
Earlier news, on March 21, Ark Invest sold $13.5 million worth of Coinbase shares. This was the first time the fund sold a large number of Coinbase shares since July last year. Ark Invest has been increasing its holdings of Coinbase shares since November last year.
In addition, Coinbase's stock price suffered a heavy blow on Thursday, closing down more than 14% after the U.S. Securities and Exchange Commission issued a warning (Wells Notice) to Coinbase regarding its staking services Coinbase Earn and Coinbase Wallet. (Source link)
7. Mysten Labs repurchases equity and token warrants from FTX for $96.3 million
According to court documents, Mysten Labs, the team behind Sui, reached an agreement with FTX on Wednesday to purchase FTX's equity investment in Mysten Labs and SUI token warrants for $96.3 million in cash.
It is reported that in August 2022, FTX Ventures led Mysten Labs' $2 billion Series B financing, and FTX filed for bankruptcy in November shortly thereafter. According to court documents, the company invested $101 million in this round of financing, obtained approximately 570,000 shares of Mysten Labs' preferred stock and warrants to purchase up to approximately 890 million SUI tokens. FTX paid approximately $101 million for equity and an additional $1 million for token warrants. (Source link)
8. Metaverse company LandVault completes $37 million in financing, led by SoftBank, The Sandbox, etc.
LandVault, a metaverse development company, announced the completion of a new round of financing of US$37 million, led by The Sandbox, SoftBank and Kingsway Capital, with participation from HodlCo, Gemini Frontier Fund and others.
Over the past two years, LandVault has worked with partners such as Heineken, L'Oréal, and Mastercard to create the Metaverse infrastructure. The company will use this funding to continue its Web3 expansion and create AI tools while expanding the size of its teams in Asia, Dubai, Europe, and the United States. In November 2021, LandVault completed its Series B financing and raised $25 million. (Source link)
9. Layer1 public chain Radix receives $10 million investment from DWF Labs
Layer1 public chain Radix announced the completion of US$10 million in financing. This round of financing was entirely invested by DWF Labs. The post-investment valuation reached US$400 million. Radix CEO Piers Ridyard said that DWF has provided US$8 million in funds and the remaining US$2 million will be provided in the near future.
It is reported that Radix has its own consensus system and execution environment, and is expected to launch a mainnet named Babylon in the second quarter of this year. (Source link)
"What are the interesting articles worth reading in the past 24 hours?"
1. "Dialogue with Sui Lianchuang: About the internal situation of the team, the progress of the test network and the future direction of Mysten Labs"
During the Sui Builder House in Denver, Wayne Cunningham, Technical Content Manager at the Sui Foundation, conducted an AMA with Adeniyi Abiodun, where the community and users were able to gain in-depth insights into the Mysten Labs team, two testnet results, favorite product use cases, and Adeniyi’s expectations for the mainnet launch.
2. "A look at community governance and DAO consensus creation from the latest dYdX proposal"
Last week, dYdX DAO's governance proposal DIP 20, which aims to reduce transaction rewards by about 45%, was officially passed. However, this "reform" of the profit distribution mechanism within dYdX did not cause as much uproar as Uni's previous choice of a cross-chain bridge tool.
As a leading DeFi project, dYdX has repeatedly used community voting and public governance to communicate and adjust project development details and medium- and long-term plans in a timely manner, and has become a rare model in the industry.
This article will take dYdX’s past several important turning points as a guide, carefully analyze the short- and long-term impact of its community governance ideas on the project, and compare and summarize the challenges faced by decentralized communities (i.e. DAOs) in consensus building and benefit distribution.
3. Dialogue with Circle CEO: Review, Reflection and Outlook after the Crisis
On March 11, affected by the bankruptcy of Silicon Valley Bank and other factors, Circle, the issuer of stablecoin USDC, faced a serious run, and USDC continued to depeg, and Circle ushered in the biggest crisis since its establishment. Subsequently, many parties in the United States joined forces to rescue the market, stabilizing investor confidence while also saving USDC and Circle, which were already on the brink of a cliff.
After the crisis, Bankless immediately interviewed Circle CEO Jeremy Allaire, who reviewed the entire crisis and looked forward to Circle’s development strategy and future direction of regulatory policies after the crisis.
