[Link to FM] Algorithmic stablecoin project Beanstalk Farms was hacked, and the IRS plans to tax NFT investors

【Data Intelligence】

Moonbirds#3904 was sold at a price of 150ETH, setting a record for the highest transaction volume of this NFT series

On April 18, according to NFTGo.io data, Moonbirds #3904 was traded at a price of 150 ETH, which is about 457,000 US dollars, setting a record for the highest transaction volume of this NFT series. As of press time, the floor price of Moonbirds has risen to 18.42 ETH, an increase of 80.34% in 24 hours. Rhythm previously reported that Moonbirds is a collection of pixel art owl NFTs minted on Ethereum, each with different characteristics to indicate scarcity.

The Ethereum network gas fee has been reduced to 18gwei

According to the latest data from Etherscan, the current Ethereum network Gas fee has dropped to 18gwei.

Ukraine Receives Over $100 Million in Crypto Donations Since Russo-Ukraine War

According to a recent report, Ukraine has received at least $100 million in cryptocurrency donations since the Russo-Ukrainian war. Ukraine’s Deputy Prime Minister and Minister of Digital Information Mykhailo Fedorov shared a photo on Sunday of the war-torn country spending a cryptocurrency donation: 200 sets of bulletproof panels for bulletproof vests. "The better equipped the soldiers, the sooner the day of Ukrainian victory," Fedorov wrote.

【 Regulatory News 】

Sichuan Development and Reform Commission: It is strictly forbidden to increase the price of all virtual currency "mining" activities by 2 yuan per kWh

Wu said that on April 15, the Sichuan Provincial Development and Reform Commission issued a notice on intensifying rectification efforts to implement differential electricity prices for the practical electricity of shutting down virtual currency "mining" projects: all virtual currency "mining" activities are strictly prohibited, The differential electricity price policy will be implemented for the utility electricity from the date of the 1st day to the closure of the virtual currency "mining" activities, and the price increase standard is 2 yuan per kWh.

Russian Federation Government Submits Draft Law Regulating Crypto Taxation to Parliament

The government of the Russian Federation has submitted to the State Duma a draft law introducing rules to tax transactions involving cryptocurrencies. Citing the document, Forklog reports that the tax base for “digital rights,” another legal definition covering securities and utility tokens, will be determined as the difference between the token’s sale and acquisition price. Russian entities that own tokens will pay 13 percent of their digital rights revenue, while foreign companies are taxed at 15 percent. Issuers of digital financial assets will be obliged to file tax reports for the parties and transactions for the current year by February 1 next year. Simultaneously with the tax bill, the Russian government is also preparing to submit a new draft law “On Digital Currencies,” which was recently revised by the Ministry of Finance and presented to the Cabinet. The ministry is a supporter of cryptocurrency legalization, while the Bank of Russia is against it. Both pieces of legislation are expected to be passed during the State Duma's spring session. They will complement the Digital Financial Assets Act, which only partially regulates the country’s crypto industry, to create a comprehensive legal framework for cryptocurrencies, which came into effect in January 2021.

【Industry Trends】

MetaMask advises users to disable iCloud backups to avoid data theft by phishing sites

On April 18, MetaMask stated on social networking sites that credential information stored on iCloud may be stolen when users visit phishing websites, and users are advised to disable iCloud backup.

IRS plans to tax NFT investors

The IRS plans to tax NFT investors. According to US tax experts, this is one of the hottest areas. According to Chainalysis, NFT investors and creators have made this market swell to $44 billion. The U.S. government wants a share of the profits, and IRS officials who deal with tax evaders say NFT investors owe the U.S. billions in taxes and are preparing a crackdown.

Ele.me may issue ERC-721 digital collections on April 20

On April 17, Ele.me posted a post on its official Weibo suggesting that ERC-721 digital collections may be released at 00:00 on April 20.

Blockchain board game developer Gripnr raises $2.5 million, Sopris Capital and others participate

On April 18, blockchain board game developer Gripnr announced that it had raised $2.5 million in financing, with participation from Sopris Capital, XBTO Humla Ventures, Abstraction Ventures, Better Angels, Carl Sparks, and Voodoo Ventures. Gripnr is working to bring board games to the blockchain and plans to use the funds to release its first 5E game and Genesis NFT series, The Glimmering.

Hyundai Motor Group announces foray into community-based NFT market

According to news on April 18, Hyundai Motor Group released a video introducing its NFT world view "Metamobility Universe" through YouTube, and stated that it plans to enter the community-based NFT market for the first time in the global automotive industry to provide customers with diverse brand experiences. . It is reported that Metamobility is Hyundai's future vision through the combination of robotics and metaverse. First of all, Hyundai Motor plans to cooperate with the popular NFT character "Metaconz" on April 20 to release 30 limited edition NFT collections jointly signed by Hyundai Motor and Metaconz. These NFTs will be sold through the partner community first, and then through NFT Trading platform OpenSea for sale. After that, Hyundai Motor plans to officially issue Metamobility NFT from May, and the proceeds will be used for ongoing project operations and community NFT holders. To strengthen the NFT community base, Hyundai Motor will also establish a dedicated communication channel for those who own or plan to hold Hyundai NFT. According to previous news, Hyundai Motor Group invested about US$82 million in Netmarble's Metaverse Entertainment this month.

【Elite Viewpoint】

JPMorgan Chase: NFT is likely to dominate the scale of the digital asset field in the future

According to Watcher.Guru tweeted, JPMorgan Chase said that NFT is likely to dominate the scale of the digital asset field in the future.

PlanC: 12.04% of Bitcoin’s total circulation has changed hands between $38,100 and $41,500

According to news on April 17, analyst PlanC tweeted that 12.04% of Bitcoin’s total circulation has changed hands between $38,100 and $41,500, which is more than any other price range.

【What to watch today】

Algorithmic stablecoin project Beanstalk Farms hacked, losses exceed $80 million

On April 17, according to PieDun Twitter, Beanstalk Farms, an algorithmic stablecoin project, was hacked and lost more than $80 million, including 24,830 ETH and 36 million BEAN. According to the Etherscan browser, the address marked as "Beanstalk Flashloan Exploiter" has transferred thousands of ETH to the currency pool through Tornado Cash.

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