Organized by: Fairy, ChainCatcher
Important News:
- Shenzhen Qianhai Court: Virtual currencies cannot be used as a method of salary payment
- Pionex: XT Exchange may have been hacked, losing approximately $1.7 million in cryptocurrency
- Binance announces BNSOL super staking will launch the first project Pyth Network (PYTH)
- Metaplanet plans to raise approximately $62 million to purchase Bitcoin
- 21Shares launches PYTH, ONDO, RNDR, and NEAR ETPs in Europe
- Hong Kong plans to exempt cryptocurrency taxes for hedge funds and ultra-wealthy family offices
- Scroll co-founder: Admits airdrop design was poor, team wallet did not claim airdrop
- a16z general partner Sriram Krishnan will leave, may join Musk's government efficiency department
"What important events have occurred in the past 24 hours?"
Shenzhen Qianhai Court: Virtual currencies cannot be used as a method of salary payment
According to Shenzhen News, the People's Court of Shenzhen Qianhai Cooperation Zone recently ruled on a labor dispute case involving virtual currency salary payments. The case originated in June 2021, when the plaintiff, Zhou, joined a company as a senior engineer, claiming that he had agreed with the company on a monthly salary of 45,000 yuan, of which 20,000 yuan would be paid via bank transfer, and the remaining 25,000 yuan in the form of USDT. Two months later, the company terminated the labor contract on the grounds of "skills not matching," but did not pay the agreed portion of the salary in virtual currency.
The court determined that, according to the notice issued by the central bank and ten other departments in September 2021 regarding the further prevention and handling of risks related to virtual currency trading speculation, virtual currencies, including Bitcoin, Ethereum, and USDT, do not have legal compensation. Additionally, Article 50 of the Labor Law and Article 5 of the Interim Provisions on Wage Payment clearly state that wages must be paid in legal currency on a monthly basis and cannot be replaced by other forms.
Ultimately, the court only supported the plaintiff's claim regarding the illegal termination of the labor contract, ruling that the company must pay 10,000 yuan in compensation. The case was upheld by the Shenzhen Intermediate People's Court in the second instance.
Pionex: XT Exchange may have been hacked, losing approximately $1.7 million in cryptocurrency
According to monitoring by Pionex, XT Exchange appears to have been hacked, resulting in a loss of approximately $1.7 million in cryptocurrency. The hacker has exchanged the stolen funds for 461.58 ETH.
Binance announces BNSOL super staking will launch the first project Pyth Network (PYTH)
According to an official announcement, Binance has announced that BNSOL super staking will launch the first project - Pyth Network (PYTH).
From December 2, 2024, 08:00 to December 17, 2024, 07:59 (UTC+8), users holding BNSOL in their Binance accounts and Web3 wallets, or staking SOL to BNSOL, will receive PYTH APR Boost airdrop rewards.
These PYTH APR Boost airdrop rewards are additional token airdrops provided on top of the annualized interest rate for Binance SOL staking, offering users higher yields.
Metaplanet plans to raise approximately $62 million to purchase Bitcoin
Japanese listed company Metaplanet announced plans to raise up to 9.5 billion yen (approximately $62 million) through new stock 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: PYTH, ONDO, RNDR, and NEAR, covering price oracles, asset tokenization, decentralized computing, and artificial intelligence.
Additionally, 21Shares will allow investors to reinvest NEAR staking rewards into the ETP. 21Shares noted that reinvesting rewards can enhance the performance of its NEAR ETP and provide greater returns for customers. All four ETFs will be traded on exchanges in cities such as Amsterdam and Paris.
Hong Kong plans to exempt cryptocurrency taxes for hedge funds and ultra-wealthy family offices
Hong Kong plans to exempt private equity funds, hedge funds, and ultra-wealthy investment tools from taxes on cryptocurrency, private credit investments, and other asset returns.
This week, the Hong Kong government stated in a 20-page proposal that taxes are "one of the main considerations" for asset management companies when deciding on the location of their business, and the Hong Kong government hopes to create a "favorable environment" for them.
According to the proposal, the Hong Kong government aims to expand the scope of tax-exempt investments to include private credit, overseas real estate, and carbon emission allowances. The government is conducting a six-week consultation on the plan.
Scroll co-founder: Admits airdrop design was poor, team wallet did not claim airdrop
In response to accusations from Movement co-founder Rushi Manche, Scroll co-founder Sandy made several statements today, including key information:
- Admits that the airdrop design was poor and harmed some users in the community, and will compensate through Session 2;
- The team wallet did not claim the airdrop, and in the future, to avoid confusion, points from the relevant wallet will be removed;
- Never pressured team members to purchase tokens at the last round's valuation;
- The team is restructuring to adapt to the next stage of development, and some team members will leave, believing they will shine in new positions.
Previous news reported that Movement Labs co-founder Rushi Manche accused the Scroll team of numerous issues, leading to damage to the reputation of the EVM L2 ecosystem.
Slow Mist: JUMPFUN project suspected of suspicious behavior, users are advised to be cautious
Slow Mist's Yu Xian posted on X stating: "According to feedback from Slow Mist's intelligence agents, 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:
- Bonus pool mechanism: The last 5 users to participate in donations can share the accumulated ETH bonus;
- Time extension mechanism: Each time a user makes a donation, the game time is automatically extended by 30 seconds.
Yesterday, the project party used owner permissions to modify the JUMPBonusPool contract pointed to by the JUMPTreasury contract twice through the setEmergencyBonusPool function.
This modification prevented users from participating in the previous accumulated bonus competition of the JUMPBonusPool contract through normal donations. Notably, the newly replaced JUMPBonusPool contract has not been open-sourced.
These actions are in serious violation of the activity rules previously disclosed by the project party, indicating obvious violations. We remind all participating users to be aware of the risks and participate cautiously."
Movement co-founder accuses Scroll team of multiple misconducts, damaging the reputation of the EVM L2 ecosystem
Movement Labs co-founder Rushi Manche publicly accused the Scroll team of numerous issues on the X platform, including:
- After years in the community, they launched a predatory incentive plan, ultimately shifting the burden onto ordinary investors.
- The team has been selling secondary market shares for years before the launch.
- Other team members were forced to buy in at an $18 billion valuation, while senior leadership sold at the same time.
- The Scroll team directly allocated airdrops to their own wallets and then cashed out.
- Designed the most predatory token economic model, aimed at harming every community member.
Manche accused the Scroll team's actions of damaging the reputation of the EVM L2 ecosystem and called for improvements to avoid "making it look like a complete scam."
Bitwise submits 10 cryptocurrency index ETFs to the U.S. SEC
Bitwise has 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 5 "cryptocurrency players" as new government minister candidates
U.S. President-elect Trump announced the nomination of Brooke Rollins as Secretary of Agriculture. With this, all cabinet minister candidates for Trump's new administration have been confirmed. In addition, Trump has nominated several high-level officials in the past few weeks. From the list of the new government, besides well-known names in the cryptocurrency market like Musk and Howard Lutnick, several cabinet officials are staunch supporters of cryptocurrency 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, and Director of National Intelligence.
a16z general partner Sriram Krishnan will leave, may join Musk's government efficiency department
According to The Information, Sriram Krishnan, a general partner at venture capital firm Andreessen Horowitz, will be leaving. It is reported that he has discussed joining the government efficiency department led by Elon Musk.
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Interview with RootData List listed institution | ABCDE co-founder BMAN: Heavily investing in AI in 2025
During the Devcon in Bangkok, the Web3 asset data platform RootData, in collaboration with ChainCatcher, held the "DeInsight 2024" annual summit, officially releasing the “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 the development characteristics of the Web3 venture capital market in 2024 and prominently releases the RootData List 2024. This list is the second annual selection launched by RootData following its first release in 2023, and its results are gaining attention from more entrepreneurs, investors, LPs, and general crypto enthusiasts.
The RootData List 2024 includes five categories: Top 50 projects (completed TGE), Top 50 projects (not yet conducted TGE), Crypto VC Top 50 investment institutions, Top 10 angel investors, and Top 20 best CEOs.
ChainCatcher will publish a series of articles interviewing projects and institutions listed on the RootData List 2024, seeking builders who navigate through bull and bear markets and tracking the latest trends in Web3.
Today's interview features the listed institution ABCDE Capital, which has been included in the RootData List 2024 "Crypto VC Top 50 investment institutions."
ZKasino refuses refunds, now misappropriating customer funds to trade cryptocurrencies, profiting over $3 million
In April this year, ZKasino, a decentralized betting platform in the ZK ecosystem, was embroiled in a "runaway" scandal: altering website activity descriptions, refusing to refund users' staked ETH for participating in activities, shutting down Telegram speaking permissions, canceling offline meetings in Dubai, and unilaterally transferring user funds to Lido for staking… Many users suspect that ZKasino has already "soft rug." On May 28, ZKasino officially responded that it had initiated a two-step bridging refund process, allowing bridge users to register and bridge back their ETH at a 1:1 ratio. They stated that they would collect registration data in the coming days and release a new announcement as soon as possible, providing verifiable data for the public.
However, by August 14, the previously "runaway" decentralized entertainment platform ZKasino had still not issued refunds, and the funds raised by investors remained in the original two addresses.
Two major "VC coins" publicly argue, who should you side with?
The Ethereum ecosystem has recently experienced a reversal, but the Ethereum community is not calm. Former team members of the zkRollup project Scroll and the co-founder of Movement, which just completed its testnet and announced an airdrop, have clashed. Scroll accused Movement of code plagiarism, while Movement claimed that Scroll's team acted improperly, causing damage to the reputation of the Layer 2 ecosystem. Currently, the official members of the Scroll team have not made a formal response.
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