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[Link to FM] Court documents disclosed that Zhu Su holds US$1.4 billion in shares of Three Arrows Capital Offshore Fund, and South Korea's LG submitted NFT-related trademark applications

【Data Intelligence】

The total locked position of Ethereum Layer 2 is 4.36 billion US dollars, an increase of 18.46% on the 7th

On July 20th, according to L2BEAT data, the current total lock-up volume of Ethereum Layer 2 has risen to 4.36 billion US dollars, an increase of 18.46% on the 7th. Among them, the top five locked positions are Arbitrum ($2.35 billion, up 21.96% on the 7th), Optimism ($863 million, up 27.21% on the 7th), dYdX ($549 million, down 5.39% on the 7th), Loopring ( 198 million US dollars, an increase of 15.22% on the 7th), Metis Andromeda (116 million US dollars, an increase of 29.81% on the 7th).

The total market capitalization of the encryption market rebounded to above $1.1 trillion

Recent data shows that the total market capitalization of the crypto market has risen to 1.1 trillion US dollars. At the time of writing, it was 1,101,462,228,888 US dollars, a 24-hour increase of 4.6%.

Regulatory News

UK Financial Services Bill to Propose Rules for Payments Using Stablecoins

Chancellor of the Exchequer Nadhim Zahawi confirmed that a Financial Services and Markets Bill will be tabled in Parliament on Wednesday. The bill seeks to take advantage of the benefits of Brexit to transform the UK's financial services industry. It is reported that the bill proposes rules for the use of stablecoins for payments.

SEC Enforcement Seeks Congress for More Resources to Handle Crypto Industry Issues

The head of the U.S. Securities and Exchange Commission’s (SEC) enforcement division has asked the U.S. Congress to provide more resources, including hiring more staff, to support the agency’s crypto oversight efforts. During a hearing on Tuesday, SEC enforcement director Gurbir Grewal told the U.S. House of Representatives Financial Services subcommittee that regulators’ growing enforcement actions against cryptocurrency companies are making the newly formed cryptocurrency watchdog nervous. It is reported that in May this year, the US SEC nearly doubled the size of its encrypted assets and network department to 50 employees.

【Industry Trends】

South Korea's LG submits NFT-related trademark applications

According to Michael Kondoudis, a registered trademark attorney at the United States Patent and Trademark Office, on social media, the South Korean technology giant LG has submitted NFT-related trademark applications, covering the scope of TV software for issuing and trading NFT, software for NFT and encrypted transactions, etc.

Tribe Capital Announces Closing of $25M and Launch of Tribe Crypto Labs

Tribe Capital announced that it has raised $25 million from outside investors and launched its incubator program, Tribe Crypto Labs. The firm, which manages about $1.5 billion in assets, has previously invested in cryptocurrency companies such as cryptocurrency exchanges FTX and Kraken, as well as blockchains such as Cosmos and Frax. Crypto accounts for about 30% of the company's assets.

Blockchain Security Company Halborn Completes $90M Series A Funding Led by Summit Partners

On July 19th, Halborn, a blockchain security company, completed a US$90 million Series A round of financing led by Summit Partner, with participation from Castle Island Ventures, Digital Currency Group, and Brevan Howard. Halborn declined to disclose its valuation.

Security Team: The Discord server of the DerpyPunkz project was attacked

On July 20th, according to CertiK monitoring, the Discord server of DerpyPunkz was attacked, and the attacker posted a phishing link, which is the same as the attacker of the previous Maximalist project. Community users please do not click on links, mint or approve any transactions.

Meta partners with digital fashion startup DressX to launch virtual clothing

Meta is partnering with digital fashion startup DressX to offer new fashion looks on Meta's AvatarStore. DressX clothing goes on sale July 19, and users can buy and wear them on Meta platforms including Messenger, Facebook, Instagram, and the VR headset Quest.

【Elite Viewpoint】

Head of Asset Sales at Coinbase: It is false news that the platform’s Bitcoin stock has been overtaken by Binance

News on July 20, in view of the previous Glassnode data showing that the Bitcoin stock on the Coinbase platform has fallen below 600,000 and has been surpassed by Binance, Nicolasde Bontin, director of asset sales at Coinbase, stated on social media that the relevant information is not true. According to Glassnode data, they may have only looked at hot wallets and known marked addresses, but this is actually a completely irrelevant indicator, because most exchange assets are stored in cold wallets and unmarked addresses. According to previous reports, on July 18, according to data from Glassnode, the Bitcoin stock of the cryptocurrency trading platform Binance surpassed Coinbase for the first time since its establishment in 2017. At present, the Bitcoin stock on the Binance platform is slightly more than 600,000, while that of Coinbase is less than 600,000.

SBF: It is worth losing some money to support the crypto industry

FTX CEO Sam-Bankman Fried (SBF) says he won't be bothered about losing some money if his bailout keeps the cryptocurrency infrastructure afloat. “It’s okay to do a moderately bad deal when bailing out a place,” he said at the Bloomberg Crypto Summit. Bankman-Fried said the need to be “a good, constructive player in this space,” To justify "burning a small amount of money".

【What to watch today】

Court documents reveal Zhu Su holds $1.4 billion stake in Three Arrows Capital offshore fund

On July 20th, according to an affidavit submitted to the court by Kyle Davies, the co-founder of Three Arrows Capital, Zhu Su, the co-founder of Three Arrows Capital, holds $1.4 billion worth of offshore funds that bring together the company’s encrypted fund assets. shares. In addition, Davies also said that Three Arrows Capital owed his wife Chen Kaili Kelly $65 million.

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