Metaverse ranks as a key technology Investors deepen their understanding of the characteristics of virtual assets

Headlines

▌**** SIPO classifies seven types of key technologies: the metaverse is among them**

Golden Finance reported that a few days ago, the State Intellectual Property Office issued the notice of the "Key Digital Technology Patent Classification System (2023)", the classification system involved in this notice is suitable for macro statistical monitoring of the development of key digital technology patents, and is suitable for relevant local departments and all sectors of society to carry out statistical analysis of relevant industrial patents in combination with actual needs. The classification system issued this time is aimed at the major needs of the country, aiming at emerging digital industries and cutting-edge technology fields, focusing on selecting seven key digital technologies such as artificial intelligence, high-end chips, quantum information, Internet of Things, blockchain, industrial Internet and metaverse, clarifying technical boundaries and dividing technology branches, and constructing a reference relationship between technology branches and international patent classifications.

▌****Hong Kong Investment Committee: It's time for investors to deepen their understanding of the characteristics of virtual assets and investment opportunities

Golden Finance reported that Li Wanqiu, general manager of the Hong Kong Investor and Financial Education Committee, said that after the JPEX suspected fraud, the investment committee will strengthen education and improve investors' investment behavior and attitude, rather than simply providing information, such as helping citizens learn to manage money through immersive experience projects, and further strengthening information dissemination through investor seminars. She said that the Investment Committee has been cooperating with other regulators to do a good job in investment education, and Hong Kong's legislation and supervision of investment products has been very strict, believing that virtual assets are the future market development trend, and it is time for investors to deepen their understanding of the characteristics and investment opportunities of relevant products, and hope that the behavior and attitude of Hong Kong investors will be among the best in the world in the future.

Quotes

As of press time, according to CoinMarketCap:

BTC recently traded at $26,863.00, up or down -0.87**%** during the day;

ETH recently traded at $1,563.11, up or down +0.42% during the day;

BNB recently traded at $205.67, up or down -0.29% during the day;

XRP recently traded at $0.48280, with a daily increase or decrease of -0.79%;

DOGE recently traded at $0.0584, a daily increase of -0.91%;

ADA recently traded at $0.2461, with an intraday gain or decrease of -0.32****%**;

SOL recently traded at $21.77, up or down -1.36% during the day.

Policy

▌**** SIPO classifies seven types of key technologies: the metaverse is among them**

Golden Finance reported that a few days ago, the State Intellectual Property Office issued the notice of the "Key Digital Technology Patent Classification System (2023)", the classification system involved in this notice is suitable for macro statistical monitoring of the development of key digital technology patents, and is suitable for relevant local departments and all sectors of society to carry out statistical analysis of relevant industrial patents in combination with actual needs. The classification system issued this time is aimed at the major needs of the country, aiming at emerging digital industries and cutting-edge technology fields, focusing on selecting seven key digital technologies such as artificial intelligence, high-end chips, quantum information, Internet of Things, blockchain, industrial Internet and metaverse, clarifying technical boundaries and dividing technology branches, and constructing a reference relationship between technology branches and international patent classifications.

▌**Coinbase Chief Legal Officer: SEC Provides Update of Court Order to Third Circuit in Coinbase's Injunction Lawsuit

Coinbase Chief Legal Officer Paulgrewal.eth said on social media that today, the SEC provided an update on the court order to the Third Circuit in Coinbase's injunction lawsuit: Yesterday, SEC staff made some recommendations to the Commission related to our rulemaking application. We are grateful that the court's order inspired us to take this small step. However, a formal, public response to the petition is still well overdue. Given their ongoing enforcement activities against cryptocurrencies, the SEC should at least tell the court the timeline for its decision.

Blockchain Application

▌****Decentralized social protocol Farcaster is officially launched, users can freely register and use **

On October 12, Dan Romero, co-founder of the decentralized social protocol Farcaster, announced that after three years of development, the social network Farcaster they created has now achieved 100% permissionless use. Now, any user with an internet connection and Ethereum can freely register and use Farcaster without relying on any other person or organization.

▌**** People familiar with the matter: Polkadot ecological development organization Parity Technologies laid off more than 300 jobs this week**

News on October 12, on-chain analyst Thiccy quoted sources as revealing that Polkadot ecological development organization Parity Technologies laid off more than 300 jobs this week. In addition, Parity Technologies tweeted that it is discontinuing its go-to-market function to make room for new ecosystem leaders outside of Parity.

▌****Full stack NFT platform Curios integrated with payment giant Stripe

Golden Finance reported that full-stack NFT and Web3 platform Curious officially announced that it has completed integration with payment giant Stripe, and its users will be able to access Stripe's payment infrastructure to participate in the digital content world powered by NFT and Web3. In addition, since Stripe supports payment services in more than 135 countries, this integration will enable Curios users to transact around the world and receive Stripe security and fraud prevention protection.

In addition to adding the status of the app's availability, WisdomTree hopes to roll out new features and assets for the app, including debit card connectivity, peer-to-peer functionality, and other funding options.

▌****StartmeupHK Startup Festival started on November 8 and covered topics such as Web3, GameFi

Golden Finance reported that the 2023 StartmeupHK Entrepreneurship Festival, planned by InvestHK, was held at various landmarks in Hong Kong for 8 consecutive days from November 8. Acting Director-General of Investment Promotion Jimmy Chiang mentioned that Hong Kong, as one of Asia's most dynamic cities, is an ideal location for businesses to do business. In addition, Hong Kong's startup ecosystem is supported by a strong network of accelerators and incubators. Through this event, he hopes to provide a platform for entrepreneurs from all over the world to network, present themselves and explore opportunities. The festival featured eight major events and a series of community activities around the themes of Web3, health technology, real estate technology, green technology and gamified finance (GameFi). There will also be a Shark Tank-style pitch competition for startups and students, as well as a Web3-driven concert.

Cryptocurrency

▌****Hong Kong Investment Committee: It's time for investors to deepen their understanding of the characteristics of virtual assets and investment opportunities

Golden Finance reported that Li Wanqiu, general manager of the Hong Kong Investor and Financial Education Committee, said that after the JPEX suspected fraud, the investment committee will strengthen education and improve investors' investment behavior and attitude, rather than simply providing information, such as helping citizens learn to manage money through immersive experience projects, and further strengthening information dissemination through investor seminars. She said that the Investment Committee has been cooperating with other regulators to do a good job in investment education, and Hong Kong's legislation and supervision of investment products has been very strict, believing that virtual assets are the future market development trend, and it is time for investors to deepen their understanding of the characteristics and investment opportunities of relevant products, and hope that the behavior and attitude of Hong Kong investors will be among the best in the world in the future.

▌**** SBF and Ellison prepared 7 balance sheets to hide billions of dollars in loans**

According to an FTX internal spreadsheet provided by prosecutors and certified by Caroline Ellison, Alameda had borrowed 77% ($13 billion) of its customers' total dollar deposits by mid-June 2022, Golden Finance reported. Ellison said that when she became concerned about the size of Alameda's borrowing from FTX, she asked FTX executives Gary Wang and Nishad Sing to collect data for her. Ellison noted: "We borrowed $10 billion from FTX and provided $5 billion in loans to our own executives and affiliated entities. By June, data showed that Alameda had borrowed 52% of all Ethereum deposits in FTX, 44% of USDT deposits and 25% of BTC deposits, as well as all Australian dollar and BRZ deposits.

▌**Bloomberg analysts: ARK's updated ETF prospectus indicates that the issuer is discussing the specifics of the offering with the SEC

Bloomberg analyst James Seyffart said in a social media post that an updated version of the spot bitcoin ETF prospectus submitted by ARK Invest adds some details stating that the ETF's BTC will be stored in a separate wallet instead of being mixed together. This all suggests to us that Ark/21Shares and others may be discussing things they want to clarify in these filings with the SEC. In my opinion, this bodes well for future approval. In addition, there are many other minor edits and updates in this new document. We won't go into detail individually, but this is just a signal that the publisher is responding to the SEC's comments/requests for these documents. Gold Finance previously reported that Bloomberg senior ETF analyst Eric Balchunas tweeted that ARK Invest submitted an updated version of its spot bitcoin ETF prospectus. The new prospectus mentions how the calculation of net asset value does not comply with GAAP accounting; ETFs' assets in the custodian are held in segregated accounts on the Bitcoin blockchain, commonly referred to as "wallets," so they are not commingled with corporate or other customer assets.

▌****Deputy Director of the State Administration of Foreign Exchange: Under certain conditions, the central bank digital currency will have the opportunity to become a broad currency

News on October 12, Lu Lei, deputy director of the State Administration of Foreign Exchange, said at the "2023 China (Beijing) Digital Finance Forum" that the essence of all financial activities is intertemporal transactions, and currency and interest rates are the core. "Under the existing model, the central bank digital currency (CBDC) is mainly positioned as a cash-type payment certificate (M0), which is an interest-free high-energy currency." Lu Lei pointed out that assuming that based on the programmability of digital currency, the smart contract on interest rates is loaded on the central bank digital currency, and the central bank digital currency will have the opportunity to become a broad currency (M2), and it is expected that the exploration of the Institute of Data Research can realize the monetary policy to adjust the interest rate of the central bank digital currency and achieve the macro-control goal. The programmability of central bank digital currencies provides innovation space for enriching central bank monetary policy tools, but it has to be said that this is a common challenge faced by central banks around the world.

▌****An Indian businessman stole nearly INR 40 million in cryptocurrency and has been transferred to a Hamas-related account

Nearly 40 million Indian rupees ($480,000) of cryptocurrency stolen by a businessman in Delhi, India, have been tracked by Indian police to Hamas-linked crypto accounts, Golden Finance reported. Indian authorities received information from the Israeli intelligence agency, the Mossad, that some suspicious wallets were used by terrorist groups to obtain funds. Indian security agencies then discovered that some of the suspicious wallets were under the control of Al Wassam Brigades, the Hamas cyber terrorism unit, which received the stolen cryptocurrency from a Delhi-based businessman. A police officer said the cryptocurrencies passed through various private wallets before entering Hamas-linked wallets.

▌****BlackRock seeks court crackdown on 44 related parody websites

Investment giant BlackRock has called for cracking down on a range of potentially fraudulent domains and "misplanted" websites that are allegedly exploiting its name, Golden Finance reported. On October 10, BlackRock filed a lawsuit in the U.S. District Court for the Easter District of Virginia, accusing the owners of 44 Internet domains of containing keywords such as "Blackrock," "Aladdin," "capital," "crypto," and "investments." The asset manager claims that the domains were registered maliciously in order to profit from consumer confusion and divert traffic through tactics such as pay-per-click ads, malware, and email phishing attacks. Lawyers for the firm's Wiley Rein LLP cited research that "shows that more than 95 percent of the 500 most popular websites on the Internet are the subject of 'typosphing.'" This is the practice of registering a domain name that represents a typographical error on a legitimate website. BlackRock alleges that the entities violated the Anti-Cybersquatting Consumer Protection Act because the registered domain names were confusingly similar to their own.

▌**** Hong Kong SFC: Hong Kong retail investors' interest in cryptocurrencies soars**

A recent survey by the Investor and Financial Education Committee (IFEC) under the Securities and Futures Commission (SFC), Hong Kong's securities regulator, showed that interest in cryptocurrencies among Hong Kong retail investors has soared this year. The survey, conducted between June and July 2023 and included responses from 1,000 individuals between the ages of 18 and 69, shows a significant uptick in retail investor interest in cryptocurrencies.

Golden Encyclopedia

▌****Status

State in Ethereum refers to a comprehensive ledger that includes all externally owned accounts (EOAs), their balances, smart contract deployments, and associated storage. This state is not static; It will continue to scale as new users are added and new smart contracts are deployed.