Daily Digest - 8 November 2022

Headlines

▌CZ Denies "War With SBF", Saying That Its Decision to Announce the Liquidation of FTT Is Only in Response to Market Speculation

Binance founder CZ posted on social media that the announcement of the FTT clearance was only in response to speculation and doubts in the market. The behavior adhered to the principle of openness and transparency, and was not a conspiracy theory. He personally devoted his mind to the construction of encryption, not "war with SBF" as everyone guessed. Note: CZ's original tweet once stated that "the release of the clearance decision was the last straw that broke the camel's back", and since then it has re-published the number of ETH balances on the Binance platform. Therefore, the market speculates that its "no intention to start a war" clarification statement is not entirely true.

Policy

▌The Central Bank of Russia Is Integrating Crypto Assets Into the Local Financial System

The Central Bank of Russia has released a report on digital assets focused on integrating crypto assets into the country’s financial system. Key areas of focus for the report include proper taxation and regulation of digital asset issuance. The Central Bank of Russia then posted on Telegram that it was interested in “opening the domestic market to foreign issuers from friendly countries.” The report also noted that the Central Bank of Russia is working on an independent report on the digital ruble, with the digital ruble pilot set to take place in 2023. According to previous news, the Russian Ministry of Finance and the Central Bank have agreed on a bill to allow cross-border settlement of cryptocurrencies. The proposed policy change aims to allow Russian nationals to use digital wallets.

Cryptocurrency

▌Indian Cryptocurrency Exchange WazirX Launches Profit and Loss Function

Indian cryptocurrency exchange WazirX has launched a profit and loss (P&L) function for users to analyze and calculate their investments. WazirX users will view their portfolios with absolute profit and loss, average buy volume per asset, and a custom "profit and loss view" for the token. The WazirX calculator takes into account the average bid price, investment value, and unrealized gains and losses. The feature also has a separate category for the impact of events other than transactions, including coins received as referral rewards, cryptocurrency withdrawals, rewards, and penalties.

▌Huobi Will Re-Mint PGALA Token on TRON Network

Huobi issued a notice on re-minting PGALA Token on the TRON network: Since the pGALA Token contract uses an upgradeable Transparent Proxy model, and the owner private key of the Admin role of the pGALA proxy contract has been leaked on Github , thereby losing the rights of contract configuration, resulting in the pGALA contract being at risk of being attacked at any time, and there is a huge security risk. In order to ensure the interests of PGALA holders on the platform, Huobi Global decided to use the total amount of pGALA actually held by platform users: 6,211,014,582.57982347 as the total circulation, and re-mint the 100% decentralized and 100% circulating PGALA Meme Token on the TRON network ( PGALA), the new contract address is: TF7Ncj2PwKYxVthJaCZCRS98XgnXhJ347h After the contract is replaced, the deposit and withdrawal of PGALA will also be opened at 2022-11-07 23:00:00 (GMT +8), and the tax burning mechanism will not be affected in any way. The destruction will also be carried out on a new contract, and the destruction address is: T9yD14Nj9j7xAB4dbGeiX9h8unkKHxuWwb.