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Important Information:

  • The Federal Reserve cut interest rates by 50 basis points, starting a cycle of interest rate cuts

  • Trump Pays for Meal with Bitcoin for the First Time at New York Bar

  • Solana Mobile Releases Details of Solana Seeker, Next-Generation Web3 Smartphone, Scheduled for Release in 2025

  • Solana on-chain asset trading platform Drift completes $25 million Series B financing, led by Multicoin Capital

  • Hong Kong Monetary Authority cuts base rate by 50 basis points to 5.25%

  • Solana developer platform Helius completes over $20 million in financing, with participation from Haun Ventures and others

“What important events have occurred in the past 24 hours?”

Inception Capital founder reappears after months of absence, agrees to give up some key responsibilities

According to Fortune, in May last year, Inception Capital founder David Gan informed investors that his father was under investigation and traveled to China, after which he disappeared for several months.

During this time, investors were unhappy with his “disappearance” and voted to close the fund. In late June, Gan reappeared and agreed to give up some key responsibilities. Gan said the fund was doing well and he had resumed his daily work.

Gan was reportedly named to the Asia 30 Under 30 list in 2019 for his work as managing director at Huobi Labs. He left Huobi in 2021, raised his first $50 million venture fund backed by notables such as Bill Ackman, Alan Howard, Y Combinator CEO Garry Tan and Galaxy, and closed his second $30 million fund of funds in 2024. Inception has nearly $100 million in assets under management, according to SEC filings.

Solana on-chain asset trading platform Drift completes $25 million Series B financing, led by Multicoin Capital

Solana’s on-chain asset trading platform Drift has completed a $25 million Series B financing round led by Multicoin Capital, with participation from Blockchain Capital, Primitive Ventures, and Folius Ventures.

Drift Labs co-founder Cindy Leow said her goal is to make Drift the “Robinhood of crypto” by building a suite of financial services tools on top of Solana, including spot and derivatives trading and prediction markets.

According to RootData, Drift Protocol is an on-chain asset trading center based on Solana, providing services such as Perps and prediction markets.

Hubei cracked down on virtual currency pyramid scheme, involving more than 57 million yuan

According to Jimu News, the Zhongxiang City Procuratorate in Hubei Province recently made a judgment on a major virtual currency pyramid scheme case. The main offenders Chen, Ding, and Fu were sentenced to three years in prison, suspended for five years, and fined 350,000 yuan each for organizing and leading pyramid schemes.

In February 2022, the three main culprits developed and launched a virtual currency trading app, and established a pyramid scheme called "XXX Community" under the guise of investing in virtual currency. The organization promoted itself through Internet platforms and offline training sessions, inducing members to buy virtual currency and develop downlines. The organization is divided into five major battle zones and 16 pioneer groups by region, and implements strict hierarchical management.

As of December 2022, when the case broke out, the organization had developed more than 10,000 member accounts, with the highest level reaching 17 levels, and the amount involved was as high as more than 57 million yuan. The three main offenders have voluntarily returned all illegal gains of more than 22.59 million yuan. The prosecutor emphasized that virtual currency does not have the same legal status as legal currency, and related business activities are illegal financial activities and will be strictly prohibited. The public should be vigilant, beware of false promises such as "guaranteed profit without loss", refuse high-interest temptations such as "recruiting people", and avoid falling into similar pyramid schemes.

Vitalik: The insurance DAO model is underestimated, and the symmetric model can bring fairer incentives

Ethereum co-founder Vitalik Buterin posted on social media that, in my opinion, insurance DAOs are underestimated. N people who are concerned about similar risks pool their funds and agree to provide insurance for anyone who suffers the risk. The symmetric model ensures that the imbalance of interests is smaller.

If necessary, the DAO can still hire professional claims judges, but their incentives are fair and just because no participant knows whether they will be the next beneficiary.

Similar patterns have existed in the past and even persist in some places today.

Solana Mobile Chapter 2 renamed Solana Seeker, scheduled for release in 2025

Solana Mobile has officially announced details of its next-generation Web3 smartphone, the Solana Seeker. Originally named "Chapter Two," the device is scheduled to be released in 2025 and will offer a number of improved features.

With over 140,000 pre-orders, the Solana mobile development community has embraced Seeker, developing a plethora of exclusive dApps and features for the device. Seeker’s core features include a built-in self-hosted Seed Vault wallet, the Solana Mobile dApp store, the Seeker Genesis Token (a soul-bound NFT), and upgraded hardware configurations.

Solana co-founder Anatoly Yakovenko said Seeker will offer a higher standard than Saga at a more affordable price, aiming to become the most defining Web3 mobile device next year.

Solana developer platform Helius completes over $20 million in financing, with participation from Haun Ventures and others

Solana developer platform Helius announced that it has raised $21.75 million in funding, with participation from Haun Ventures, Founders Fund, Foundation Capital, 6th Man Ventures, Chapter One, and Spearhead. Solana developer platform Helius announced that it has raised $21.75 million in funding, with participation from Haun Ventures, Founders Fund, Foundation Capital, 6th Man Ventures, Chapter One, and Spearhead.

Data: Hong Kong Monetary Authority cuts base rate by 50 basis points to 5.25%

The Hong Kong Monetary Authority cut its base rate by 50 basis points to 5.25%.

Earlier news, the Federal Reserve announced a 50 basis point interest rate cut in the early morning.

Trump pays for meal with Bitcoin for the first time at a New York bar

According to Fox News, former US President Trump used Bitcoin to pay for his meal at a bar in New York for the first time.

The Federal Reserve cut interest rates by 50 basis points, starting a cycle of interest rate cuts

According to Jinshi, the Federal Reserve started a cycle of interest rate cuts, lowering the federal funds rate by 50 basis points to 4.75%-5.00%, the first rate cut since March 2020.

"What are the interesting articles worth reading in the past 24 hours?"

Don’t miss it! Take a look at the important project updates announced during the TOKEN2049 conference

On September 18, TOKEN2049, Web3's most anticipated annual summit, officially kicked off in Singapore. Global Web3 bigwigs gathered, bringing intensive highlights to the long-dormant crypto market.

During the meeting, altcoins experienced a general rise, and many projects also chose to announce important strategic plans at this time. ChainCatcher briefly sorted out the dynamics of some important projects.

After the second shooting, Trump still insisted on opening the platform for the family's crypto project

Recently, US presidential candidate Trump led the core team of World Liberty Financial to conduct an interview with Rug Radio founder Farokh on the X platform. Just one day before the live broadcast, Trump had just experienced his second shooting.

During this live broadcast, Trump elaborated on his views on the crypto industry, the U.S. SEC's hatred of the crypto industry, his policies toward the crypto industry after his election, and NFT and other related angles.

After Trump finished the interview, his good friend Steve Witkoff also expressed his views on the crypto industry and World Liberty Financial, followed by core members of World Liberty Financial. Finally, Zak Folkman, the operations director of World Liberty Financial, officially disclosed relevant information about the project.

Neiro and NEIRO are listed on Binance. Is the Meme coin track reaching a turning point?

The "uppercase dispute" of the meme coin Neiro has once again put Binance in the spotlight.

But this time, Binance co-founder He Yi's response was unusually calm and restrained, which may also imply that the Meme coin project will be more cautious in its subsequent listing strategy on Binance. In the recently released article "He Yi responded to the controversy over listing: Considering the voice of the community, several MEME tokens with relatively scattered tokens and low market value were launched", we can clearly see that the voice of the community still has a significant impact on Binance's decision-making level. At the same time, Binance's internal organization is not as "grassroots" as the outside world had previously imagined.

However, the simultaneous listing of two projects, Neiro and NEIRO, on Binance is indeed a rare "grand occasion" in the Meme coin track, and can be regarded as a "turning point in the Meme coin track" to some extent. This article briefly sorts out and analyzes the relevant events.