WuBlockchain Weekly:Merge TTD、CPI Declines、Tornado Sanctions and Top10 News

WuBlockchain
4 min readAug 12, 2022

Top10 News

1、The Ethereum Mainnet Scheduled to Merge on September 15 or 16

The Ethereum Merge has been scheduled for TTD 58750000000000000000000.This is approximately Sept 15–16th

2、The US July unadjusted CPI annual rate of 8.5%, the core CPI annual rate of 5.9%

The unseasonally adjusted CPI annualized at 8.5% in July was expected to be 8.7%, up from 9.1%. U.S. core CPI annual rate was 5.9% in July, compared with 5.90% previously and 6.10% expected. In response, the gasoline price index fell 7.7% in July, the biggest drop since April 2020. The annual consumer price index eased in July as gasoline costs fell sharply. Still, Fed officials said they would not shake the central bank’s upward path for interest rates this year and next.

3、Aftermath: Tornado Cash sanctioned by the United States link

4、FTX and Justin Sun in Contact to Acquire Li Lin’s Shares in Huobi; Justin Sun Denies in Tweet

FTX and Justin Sun have made initial contact with Li Lin, who is seeking to sell his majority Shares in the exchange at a $3 billion exchange valuation, according to Bloomberg. Shareholders such as Zenith and Sequoia China were made aware of Li Lin’s decision at the July shareholder meeting, and the deal could close as early as the end of this month. Previously Wu said exclusively disclosed that Li Lin was studying the sale of his shares.

In response, Justin Sun tweeted a denial, “We are not currently involved in any matters related to the Bloomberg report.”

5、BlackRock bitcoin private trust link

BlackRock is committed to providing clients with access to their choice of investment opportunities and has launched a spot bitcoin private trust. The trust is available to U.S. institutional clients and seeks to track the performance of bitcoin, less expenses and liabilities of the trust.

6、Curve Finance had its front end hacked

The Curve Finance front-end was hacked and its Curve.fi domain server was compromised, which the team has now resolved. According to PeckShield, the Curve attackers transferred 27.7 ETH to Tornado Cash, 292 ETH to FixedFloat (FixedFloat claims to have frozen 112 ETH) and 20 ETH to Binance.

7、dYdX blocks accounts that have funds associated with Tornado Cash

dYdX issued an announcement that dYdX has long used compliance vendors to scan and flag accounts on dYdX’s hosted matching engine for funds related to possible engagement in ransomware, malware, child sexual abuse material, known criminals, and sanctions lists published by the global community. Recently there has been a significant increase in accounts flagged by dYdX’s compliance vendor that have been blocked by dYdX because a portion of those accounts’ wallet funds were at some point associated with Tornado Cash, which has recently been added to the U.S. Treasury Department’s OFAC sanctions list.

8、MakerDAO Founder Rune: Considering Decoupling from USD, Moving Away from Using USDC as Collateral, Converting USDC to ETH

MakerDAO founder Rune Christensen said on Discord that he is seriously considering preparing to decouple from the USD and will move away from using USDC as collateral, converting USDC to ETH. He believes that the risk/reward of removing USDC from the MakerDAO ecosystem altogether is acceptable — DAI may be decoupled from the USD, which could happen suddenly in the worst case scenario, but in return DAI will get censorship resistance. EIPro, a community representative, expressed the hope that one day RWA providers will be able to build “skyscrapers” not in dollars, but directly in DAI or ETH. Ether founder vitalik responded on Twitter: personally, I don’t think any kind of non-ETH collateral should exceed 20% of the total; if not, then limit the growth of DAI, such as increasing negative interest rates, until it does.

9、China’s State Internet Information Office focused on rectifying the chaos involving virtual currency speculation

In accordance with the spirit of “Notice on Further Preventing and Disposing of the Risk of Speculation in Virtual Currency Trading”, the State Internet Information Office supervised and instructed major websites and platforms to effectively implement their main responsibilities, continuously maintain a high pressure against speculation in virtual currency trading, and increase the self-correction of information content and accounts that induce investment in virtual currency. The microblogging, posting accounts and WeChat public numbers that induce netizens to invest in digital assets under the banner of “financial innovation” and “blockchain” should be closed down according to law.

10、Iran uses cryptocurrency to pay for import orders worth $10 million for the first time

Iran has used cryptocurrencies for the first time to pay for import orders worth $10 million, Iran’s Tasnim News Agency reported. The government said that by the end of September, cryptocurrencies and smart contracts will be widely used for foreign trade with target countries.

Fundraising

  • Gunzilla Games Raises $46M to Redefine the Battle Royale Genre By Letting Players Trade Their In-Game Items in “Off The Grid” link
  • NFT media management platform Pinata raises $21.5 million in combined seed and Series A funding link
  • Tiger Global joins $12 million funding round for gamer infrastructure startup Lysto link
  • CreatorDAO Raises $20M Seed Round from a16z crypto and Initialized Capital to Invest in Creators link
  • DeFi wallet startup Unstoppable Finance raises €12.5 million link
  • DEX Protocol Injective Raises $40M From Jump Crypto, Brevan Howard Unit link
  • Solana MEV infrastructure developer Jito Labs raises $10 million link
  • Binance Labs Makes a Strategic Investment in Ankr link

Learn more, check out crypto-fundraising.info.

Insights

  • Founders, stop valuation-maxing your venture. link
  • Beginnings of a Bear Market Rally? link
  • Measuring SNARK performance: Frontends, backends, and the future link
  • Former employees say issues plagued the crypto company Celsius years ahead of bankruptcy link
  • How to Win the Merge link
  • Aptos Whitepaper link
  • Playlist V3 link
  • Fading The Soft Landing Narrative link

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WuBlockchain

Colin Wu, Chinese journalist, won 2013 China News Award