Today's news tips:
1. Prison records show former FTX executive Ryan Salame begins serving seven and a half years
2. Neiro responded to the doubts: Choosing Gotbit as the market maker was a stopgap measure in the rush to go public, and he is willing to take responsibility for this misjudgment
3. Vitalik: A year ago, the discussion was about L1 âextracting rentâ from L2, but now the situation is just the opposite
4. Trump: WLFI token public sale will start on October 15
5. Skyrune has completed the liquidation of 25 million LDOs, with a profit of up to 46.73 million US dollars
6. Vitalik sells multiple Meme coins and plans to donate all of them
7. Analysis: NEIRO may have escaped the accumulation phase, with frequent whale activities
Regulatory News
Prison records show former FTX executive Ryan Salame begins serving seven-and-a-half-year sentence
According to The Block, records show that former FTX executive Ryan Salame has begun serving a seven-and-a-half-year sentence in a Maryland prison. According to the Federal Bureau of Prisons website, Salame, who served as co-CEO of FTX Digital Markets, was incarcerated at FCI Cumberland in Maryland as of Saturday morning. The prison is a "medium-security federal correctional institution with a minimum-security satellite camp next door." According to the prison's website, the prison holds more than 1,000 inmates.
South African Tax Agency Plans to Include Cryptocurrency in Compliance Program
According to Bitcoin.com, the South African Revenue Service (SARS) has announced plans to include crypto assets in its tax compliance program. The South African Revenue Service is seeking information about crypto users and is stepping up efforts to identify and audit non-compliant taxpayers. Tax officials urged taxpayers who are concerned about compliance to participate in the voluntary disclosure program, but those who have already been audited will not be eligible to participate. The South African Revenue Service emphasized the consequences of deliberate tax evasion and said it would hold all non-compliant taxpayers accountable.
Project News
Neiro responded to the doubts: Choosing Gotbit as the market maker was a stopgap measure in the rush to go public, and he is willing to take responsibility for this misjudgment
In response to crypto detective ZachXBT's questioning of why Neiro initially chose Gotbit, which has a very bad reputation, as a market maker, Neiro CTO co-head "S" responded that when Justin Sun's Twitter asked him to list HTX, he actually only had a few hours to find one, and time was tight. Gotbit was chosen because the market maker offered a stay agreement at the time, which was the most affordable option so far. Second, the project saw it as a quick solution for HTX listing (the agreement with Gotbit was for 3 months), and then planned to explore other options when the budget was larger. Third, it lacked experience in judging the industry. Although he had heard all kinds of bad things about Gotbit, he had also heard all kinds of bad things about almost everyone in the industry, so it was difficult to make a judgment. "S" also said: "I had not had direct contact with Gotbit before, so I chose to trust them and give them a chance. Gotbit also promoted itself as a "meme coin-friendly" market maker, which seemed to be an attractive offer."
Mysten Labs CEO: Sui's gaming device SuiPlay0X1 is a "software game" rather than a hardware product
According to The Block, Evan Cheng, co-founder and CEO of Sui's blockchain development company Mysten Labs, said in an interview in May that the "ChatGPT moment" of cryptocurrency could come at any time. In a recent Mainnet conference interview, Cheng reiterated that moment has not yet arrived, but it is still not far away. As for how Cheng plans to let Sui lead this breakthrough, he believes that his blockchain has the best potential to achieve this breakthrough by catering to "disruptive developers" and conducting extensive experiments.
One notable experiment Sui is about to launch is the SuiPlay0X1 handheld gaming device, which is now available for pre-order and scheduled to launch in 2025. While some may view the device as a hardware-level layout, similar to Solana's Web3 phone, Cheng sees the device as a software product rather than a hardware product. "This is a gaming device that can play all Windows games," Cheng said. "It's better than other devices because of the deep software integration and operating system integration. Even for existing Web3 gamers, it's a better product because of the software. The hardware is almost like a commodity, and the software experience is the magic and the winning formula."
OKX market data shows that SUI briefly touched $2.2485, a record high; it is currently trading at $2.2288, up 9.71% on the day.
Analysis: NEIRO may have escaped the accumulation phase, with frequent whale activities
According to Spot On Chain monitoring, NEIRO seems to have left the accumulation phase, and whales have become significantly more active, including
Buyers include:
GSR Markets currently holds 40.4 million NEIRO, accounting for 4.04% of the total supply. The last increase was two days ago;
Smart money 0xe9f sold $1 million worth of OM and ATH 3 hours ago and obtained the first batch of 8.45 million NEIRO;
bwecapital.eth accumulated 4.065 million NEIRO two days ago, accounting for 0.4% of the circulating supply;
Sellers include:
The entity that made $145 million in profit from SHIB sold all 17.5 million NEIRO 5 days ago (before the surge) for a loss of $1.49 million (-55%);
Whale 0x00d deposited 4.7 million NEIRO ($531,000) into Bybit in the past 17 hours, making a profit of $247,000 (+87%).
Vitalik: A year ago, the discussion was about L1 âextracting rentâ from L2, but now the situation is the opposite
Ethereum co-founder Vitalik Buterin said on the X platform: "I do think there is a 'variance problem (ie volatility problem)' in the current status quo: 12 months ago, the focus of the discussion was on L1 'extracting rent' from L2, and now the situation is the opposite. What we don't want to see is a mixed economy in which the tax rate jumps from 5% to 95% based on factors such as market sentiment. If we can design an economics where both L1 and L2 fee accumulation are reliably far away from zero (ie the variance of the ratio is small), then many people will be more satisfied. We need to maintain an ecosystem where Ethereum community members feel that they are on the same team, which includes the technical interoperability part, the values/culture part, and the economic part. EIP-7762, Rollup-based protocols, other forms of fee sharing, etc. are all valuable directions worth starting."
Trump: WLFI token public sale will start on October 15
Trump said on the X platform that the public sale of WLFI tokens will begin on October 15 (local time), and the details of the public sale will be introduced in the live broadcast on October 14.
Earlier news, the Trump family's crypto project World Liberty Financial (WLFI) will start live broadcast at 20:00 Beijing time on October 14, and will introduce: WLF team, consultants; exclusive insights from special guests; public sales details.
According to AggrNews, Musk and Trump are expected to be potential guests of this live broadcast. Upon inspection, the poster in the WLFI announcement posted the silhouettes of the two special guests, and their shapes look a bit like Musk and Trump.
Andre Cronje: L2 as an application chain is illogical for developers
Sonic Labs CTO Andre Cronje said on the X platform: L2 as an application chain is illogical for developers:
There is almost no infrastructure (stablecoins, oracles, institutional custody, etc.) at the time of deployment;
There were no foundations or labs to help;
Centralized architecture is vulnerable to attacks;
Decentralize liquidity and force it to pass through cross-chain bridges;
There is no user and developer community;
Spend your time dealing with the above issues, not with applications and users;
Eliminate network effects;
Transaction confirmation time is still long (some suppliers are reluctant to work with them);
Developed alone (no collaborative team).
Lisk also severely underestimated the cost of infrastructure and compliance (browsers, hosting, exchanges, oracles, bridges, toolkits, IDEs, on/off ramps, native distribution and integrations, regulation, compliance). $14 million will be spent in 2024 alone, much of which is recurring costs.
Shenyu: More plans and layouts are being prepared
Shenyu, co-founder and CEO of Cobo, said on the X platform that he has been a bit âlying flatâ recently, but donât worry, mediocrity does not mean stopping, but more thinking and precipitation. Many plans and layouts have not yet fully surfaced, but it is certain that they are still on the road.
Important data
Sky Rune's 25 million LDOs have been liquidated, with a profit of up to $46.73 million
According to the monitoring of on-chain analyst Yu Jin, the 25 million LDOs co-founded by Sky Ecosystem (formerly MakerDAO) and Rune were finally sold out today. The sales cycle of these LDOs is nearly 3 years, and most of the funds obtained were used to buy MKR.
25 million LDOs were sold at an average price of $1.87, with a profit of up to $46.73 million (221 times); among them, the funds from the sale of 30.02 million LDOs were used to repurchase 36,000 MKRs, with an average purchase price of $833.
Vitalik sold multiple Meme coins to get 251.7 ETH, and plans to donate all of it
According to Lookonchain, Vitalik sold multiple Meme coins for a total of 251.7 ETH (about $636,000), including:
330,000 MSTR were sold for 114.1 ETH ($282,000).
14 million POPCAT were sold for 74.99 ETH ($186,000).
14 billion ITOs were sold for 36.55 ETH ($90,000).
1.05 million ETH6900 sold for 15.37 ETH ($38,000).
50.53 billion SATOs were sold for 11.34 ETH ($28,000).
10 billion Milo were sold for 4.77 ETH ($12,000).
Based on past practice, Vitalik is expected to donate the funds.
Vitalik sold 8 Meme tokens again in the past 40 minutes for 651.4 ETH
According to on-chain analyst Embers, Vitalik sold another 8 Meme tokens for 651.4 ETH ($1.61 million) in the past 40 minutes.
200,000 MSTR â 93.2 ETH;
20 billion Milo â 20.7 ETH;
15 million POPCAT â 27.1 ETH;
500,000 TCATI â 12.8 ETH;
200 million VITALIK â 5.4 ETH;
10 billion MOODENG â 396 ETH;
31.4 trillion FWOG â 22.5 ETH;
500 million EBULL â 73.7 ETH;
According to previous news, Vitalik sold multiple Meme coins and obtained 251.7 ETH, which is expected to be donated in full.
A whale who once traded ETH and made a profit of $18.99 million has withdrawn another 5,000 ETH from Binance
According to on-chain analyst @ai_9684xtpa, the whale that made a profit of $18.99 million by buying low and selling high on ETH since May 2023 has increased its position again. Two months later, five minutes ago, the whale withdrew 5,000 ETH (worth $12.34 million) from Binance again; the 26,000 ETH that the whale opened a position on the day of the crash on August 5 has now made a floating profit of $3.71 million.
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