Evening News ｜ Bali cracks down on foreign tourists using cryptocurrency payments; Binance Labs invests $10 million in NFT market Tabi financing

Organizer: flowie, ChainCatcher

"What Important Events Happened in the Last 24 Hours"

1. Bali Cracks Down on Foreign Tourists Using Crypto Payments

The Bali government will crack down on foreign tourists using cryptocurrency as a payment method in hotels, restaurants, tourist attractions, shopping malls, and other places.

Bali Governor Wayan Koster stated, "Foreign tourists engaging in improper behavior, participating in activities not permitted by their visa, using cryptocurrency as a payment method, and violating other regulations will be dealt with firmly," adding, "Severe measures include deportation, administrative sanctions, criminal penalties, closure of business premises, and other strict sanctions." (Source link)

2. NFT Marketplace Tabi Completes $10 Million Funding Round with Investors Including Animoca Brands and Binance Labs

According to Cointelegraph, the cross-chain NFT marketplace Tabi (formerly known as Treasureland) has completed a $10 million angel funding round, with investors including Animoca Brands, Binance Labs, Draper Dragon, HashKey Capital, Infinity Crypto Ventures, and Youbi Capital. Individual investors include Feng Bo (Dragonfly), Riyad AD (Saudi Arabia), and Suji Yan (Mask Network). The funding will be used to develop Tabi's gaming ecosystem and the upcoming on-chain identity protocol.

In addition to NFT trading and Launchpad features, Tabi will also convert users' on-chain activities into "experience points," which can be redeemed for future airdrop rewards and earnings. Tabi founder Xavier Lee stated plans to launch an "NFT incubation fund" to incentivize developers to design their products, art, and brands on the BNB Chain. (Source link)

3. Worldcoin: World App Uses Safe's Account Abstraction Stack to Enhance Wallet Security

Worldcoin tweeted that every World App user will have an Ethereum smart contract wallet that will use account abstraction to enhance security, utilizing Safe's account abstraction stack underneath.

Additionally, World App has become the largest Safe wallet deployer on Polygon. (Source link)

4. Huobi HK Now Offers Spot Trading and Virtual Asset Custody Services in Hong Kong and Applies for VATP License

Huobi tweeted that Huobi HK has begun offering spot trading and virtual asset custody services in Hong Kong. Currently, Huobi HK is applying for a Virtual Asset Trading Platform (VATP) license and is working with independent auditors to establish security, compliance, and anti-money laundering measures. (Source link)

5. OKX Releases Seventh Proof of Reserves, Total Reserves of BTC, ETH, and USDT Reach $10 Billion

OKX has released its seventh Proof of Reserves (PoR), with the number of disclosed cryptocurrencies increasing to 22, all with reserve ratios exceeding 100%. The reserve ratios for BTC, ETH, and USDT are all at 103%, totaling a value of $10 billion. Currently, OKX has upgraded its PoR system using zk-STARK technology, allowing users to independently verify OKX's solvency at any time, making it one of the few mainstream crypto exchanges that publishes proof of reserves monthly.

OKX's Global Chief Business Officer Lennix Lai stated, "Since the end of 2022, OKX has continuously released PoR reports, setting the highest standards for platform security and transparency in the industry. We will simplify the use of zk-STARK technology and continuously improve the proof of reserves system, which is essential for gaining and maintaining user trust." (Source link)

6. Open Campus to Launch Free Minting of Genesis NFTs on BNB Chain

Web3 education protocol Open Campus tweeted that it will launch free minting of Genesis NFTs on the BNB Chain, divided into two types: Golden Backpacks and Silver Notebooks, with a total of 1,333 Golden Backpacks and 5,333 Silver Notebooks.

It is reported that this minting event will take place on the Open Campus official website, with more details to be announced later. The minting list will close on June 3, and unclaimed and unallocated NFTs will be kept in the treasury for future collaborations/giveaways. (Source link)

7. Bloomberg: Temasek Cuts Compensation for Senior Executives and Investment Team Responsible for FTX Investments

According to Bloomberg, Singapore's national investment fund Temasek announced cuts to the compensation of senior executives and the investment team responsible for FTX investments. Temasek's chairman stated, "As the prosecutors have alleged, and as the main executives of FTX and its affiliates have admitted, there was fraud that intentionally concealed information from investors, including Temasek."

As previously reported by ChainCatcher (source link), Temasek has decided to fully write down its investment of approximately $275 million in FTX and FTX US. Singapore's Deputy Prime Minister Lawrence Wong revealed in the country's parliament that Temasek has officially initiated an internal review of FTX-related investments. (Source link)

"What Great Articles Are Worth Reading in the Last 24 Hours"

1. “‘No Chinese’: Arrogance and Prejudice at EDCON in Montenegro”

The five-day Ethereum 2023 Developer Community Conference concluded in Podgorica, the capital of Montenegro. During this high-intensity, high-density exchange and interaction, participants from different backgrounds gradually discovered many conflicts in viewpoints and ideological differences, particularly the tension between practitioners from the Chinese-speaking world and their Western counterparts. This article analyzes the origins of these arrogance and prejudices.

2. “In-Depth Discussion on Lido Governance: Checks and Balances in Power Structure”

Lido's recent innovative governance proposal has not garnered sufficient attention. The core claim of this proposal is to support a "dual governance scheme," which grants governance rights over the Lido protocol not only to LDO holders but also to stETH holders.

A deep dive into the details of this proposal reveals that despite the DAO's novel features such as "self-executing smart contracts" and "governance tokens based on permissionless blockchains," the core governance issue ultimately boils down to the construction of effective mechanisms.

This article will compare the dual governance scheme with the bicameral structure of the U.S. Congress, analyzing their common methods of checks and balances while exploring their unique aspects.

3. “Two Months After Launch, How is the zkSync Era Ecosystem Progressing?”

Just two months after its launch, @zksync ERA has surpassed 680,000 independent wallet addresses, with a total TVL of $338M, ranking fourth in layer 2. Although there is still a significant gap compared to Arbitrum, the growth rate of its various metrics suggests that this airdrop battle will certainly escalate. But how is the zkSync ecosystem progressing currently? What unknown variables remain in its decentralization process? This article provides an analysis.