Morning Post - September 1

headlines

▌Meitu’s net loss in the first half of the year expanded to 266 million yuan, and the cryptocurrency holdings had a floating loss of 300 million yuan

On August 31, Meitu released its 2022 interim performance announcement. In the first half of the year, it achieved operating income of 971 million yuan, a year-on-year increase of 20.5%; the net loss attributable to the company's owners was 266 million yuan, compared with a loss of 129 million yuan in the same period last year; the company The adjusted net profit attributable to owners increased by 7.9% year-on-year to 35.99 million yuan. Regarding the impairment of cryptocurrencies, Meitu recognized impairment losses of approximately RMB 124.1 million and RMB 181.4 million for the purchased Ethereum and Bitcoin respectively for the six months ended June 30, 2022.

cryptocurrency

▌Binance Freezes Crypto Assets of Russian Gun Manufacturer

Cryptocurrency exchange Binance has frozen wallets linked to Russian gun manufacturer Vladislav Lobaev, which raised funds for the Ukrainian army, according to Lobaev representatives and blockchain data analysis. While the Ukrainian government did not name Lobayev or anyone else, last week the Security Service of Ukraine (SSU) issued a press release stating that the agency "blocked an encrypted wallet belonging to a Russian citizen who is supporting Russia's war in Ukraine. CoinDesk has identified the wallet as Lobaev's Binance account. Lobaev is the founder of Lobaev Arms, a private company that produces rifles and other military-grade ammunition. Subscribers to his Telegram channel are often requested Donate so that Lobayev can provide more ammunition for Russian troops in Ukraine. The channel lists several payment methods for subscribers to donate, including blockchain addresses in BTC, ETH, and USDT.

▌a16z encryption department will release a free licensing system to help NFT establish industry standards

The a16z encryption unit is preparing to release a free licensing system, hoping to establish some industry standards for how to use NFT by providing a series of free licensing options vetted by lawyers in a manner similar to Creative Commons. a16z general counsel Miles Jennings said a variety of approaches were being taken and that greater standardization across the industry would help unlock the industry's economic potential. All six licenses are available on the a16z crypto GitHub: irrevocable for creators, respects modifications and adaptations, supports transparent sublicensing, respects third-party content, clear license ownership in case of loss, license deploys to Arweave.

▌Polygon announced that the new version of the test network Avail has been launched

The Polygon Avail testnet, which attempts to solve the data availability problem, has gone live. The main problem with monolithic blockchain systems is the need for unified execution, settlement, and data availability in a single block. The modular blockchain trend is Layer 2 rollups, which allow execution to be handled on a separate chain, where blocks are used only for execution. Polygon Avail advances modular architecture by decoupling data availability and enabling blockchains dedicated to data availability.

important economic trends

▌U.S. stocks closed, the three major stock indexes collectively closed down

U.S. stocks closed, and the three major stock indexes collectively closed down. The Dow Jones Index closed down 280.17 points, or 0.88%, to 31510.70 points on August 31 (Wednesday); the S&P 500 Index closed down 31.26 points, or 0.78% on August 31 (Wednesday). %, to 3954.90 points; the Nasdaq Composite Index closed down 66.93 points, or 0.56%, to 11816.20 points on August 31 (Wednesday).