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During the four weeks of the first announcement of SpringX, a total of 243 valid applications from global entrepreneurs were received. Among them, 74 projects passed the initial screening by three fund investors, 40 projects passed the institutional interview, and 11 projects, after a joint interview by the founding funds SevenX Venture, Bixin Venture, and Generative Venture, entered SpringX01. The selection rate was only 4.53%. Picture source: The opening speech by SpringX founder Niels titled “How to Start with SpringX”. The tracks of the projects include: Infra, Game, Social, DeFi, NFT. Among them, 8 projects have been financed, and 3 projects have not yet been financed. We are also pleased to see that the founders of the projects are not only based in China, but also often reside in the Asia-Pacific region, North America, and Europe. The founding members graduated from well-known domestic and foreign universities, and basically have work experience in well-known Web2 and Web3 compa...

1. Ethereum’s Weekly Summary a. Highlights from the 115th ACDC link On August 12th, Christine Kim, the Vice President of Research at Galaxy, summarized the 115th Ethereum All Core Developer’s Consensus Meeting (ACDC) in a post. The discussions in this meeting covered various topics including the release schedule for Devnet 8, deployment strategies for EIP-4788, and changes to the CL fork selection specification. Notably, the developers agreed to initiate the next official test network, Devnet 8, for the upcoming Cancun upgrade early next week. Additionally, they consented to upgrade EIP-4788 from a state precompile to a regular smart contract. Devnet 8 stands as the inaugural specialized test network that will activate all relevant Ethereum Improvement Proposals (EIPs) finalized for the Dencun upgrade. The Ethereum Foundation is currently in the process of engaging third-party audit services to formally review the pull requests for lightweight clients. Moreover, Holesky, a new public...

Author：Crescent Editor：Colin Wu 1. Hong Kong’s weekly summary 1.1 Hong Kong Securities and Futures Commission Official Indicates Securities Tokens and RWAs Will Be Updated, Opening Opportunities for Retail Investors link On July 6th, WuBlockChain exclusively learned that Elizabeth Wong, the head of the Financial Technology Group at the Securities and Futures Commission (SFC) in Hong Kong, mentioned during her visit to Eliptic that the SFC is soon planning to release an update that will change the perspective on Security Token Offerings (STOs) from four years ago (2019). Securities Tokens or Real-World Assets (RWAs) will no longer be classified as complex products and may have the opportunity to be accessible to retail investors. RWAs will be regulated based on the underlying assets. Analysts suggest that this could potentially ignite a new wave of enthusiasm for RWAs. 1.2 Hong Kong Financial Secretary: Opening Two New Tracks — Green Finance and Web3 link On July 8th, Financial Secret...

1. Powell: Federal Reserve to Raise Interest Rates Twice Within 2023 link On June 29th, Federal Reserve Chairman Jerome Powell, speaking at the 4th Financial Stability Conference in Madrid, Spain, stated that most Fed officials expect the Fed to raise interest rates twice more within 2023. Powell noted that the U.S. economic growth slowed notably in 2022, but recent indicators suggest that the economy continues to expand at a moderate pace. For instance, consumer spending has been rising, some indicators in the housing market are starting to rebound, the labor market remains “very tight,” and inflation remains well above the Fed’s 2% target level. Inflation pressures are still high, and the Fed has a long way to go in its fight against inflation. In a previous event, he also projected that core inflation in the United States may not return to the central bank’s 2% target level until 2025. 2. Binance’s Weekly Summary a. Fortune Magazine: Binance’s General Counsel, Chief Strategy Offi...

Author：Crescent Editor：Colin Wu 1. President Tokayev of Kazakhstan Attends Binance Kazakhstan Signing Ceremony link On the 22nd of June, CZ showcased a signed photograph with Bagdat Mussin, the Minister of Information Technologies in Kazakhstan, in the presence of President Tokayev. Binance emphasized that Kazakhstani users are able to engage in crypto currency transactions using fiat currency, and the global platform remains accessible to users from that country. Binance expressed its ongoing collaboration with five regulatory institutions in Kazakhstan, including the AIFC Financial Services Authority, the Ministry of Digital Development, Innovation and Aerospace Industry, and the National Bank. 2. Monetary Authority of Singapore Releases Whitepaper Outlining Standards for Digital Currencies link On the 21st of June, the Monetary Authority of Singapore (MAS) released a technical white paper on Purpose Bound Money (PBM), introducing a universal protocol for specifying the conditions of...

1. ETH’s Weekly Summary a . “EDCON 2024”, Ethereum Developer Conference, to be Held in Japan link According to @EDCON2024, the Ethereum Developer Conference “EDCON 2024” will be held in Japan. EDCON 2023 (Community Ethereum Development Conference) just took place in Podgorica, Montenegro, from May 19th to 23rd, 2023. Vitalik himself delivered a speech. In addition to EDCON, Ethereum has various community events throughout the year, such as EthCC, ETHDenver, Devcon, and ETHglobal. b. Ethereum Developer @superphiz Calls for Community Action to Address Overconcentration of Validators in Lido ETH link On June 1st, Ethereum developer @superphiz shared a discussion warning in which Vitalik advised that no entity should control more than 15% of validators. However, over 32% of ETH validators are currently using Lido, and the community should take action to address this issue. Currently, Lido has not taken any real steps to address this problem, and there is no reason to expect a significant d...