Headlines
Binance responds to rumors of "rat trading": welcome to report any form of corruption, rewards will be up to $5 million
Odaily Planet Daily News Binance Chinese posted on the X platform that recently, a screenshot of a certain big V community circulating in the Chinese community triggered a discussion about Binance's "rat warehouse". Although the content of these screenshots was eventually confirmed to be a mistake, Binance attaches great importance to such issues. Any behavior involving leakage or corruption will be dealt with seriously once verified. In accordance with the compliance requirements of the exchange, all Binance employees are required to complete relevant mandatory compliance training. At the same time, Binance also has an independent audit team to investigate such violations. If it is verified that there is information leakage or insider trading suspicion, Binance will immediately initiate judicial proceedings to transfer the relevant personnel to the judicial authorities, and serious cases will face criminal responsibility. Welcome to report any form of corruption, and the reward will be up to 5 million US dollars. The reporting channel is open and transparent, and any clues about listing or other forms of corruption are always welcome. After verification, if Binance internal personnel are involved, you will be provided with a reward of 10 to 5 million US dollars while protecting your personal information.
63% of WLFI will be sold to the public, 17% will be used for user rewards, and the remaining 20% will be kept for the team
Odaily Planet Daily News World Liberty Financial will sell 63% of WLFI tokens to the public, 17% for user rewards, and the remaining 20% for the team. (Tree News)
Trump: If I don't get elected president, US crypto players "will be in hell"
Odaily Planet Daily News: Former US President Trump said in a live broadcast released by World Liberty Financial that if he is not elected this November, he believes that cryptocurrency builders who are under investigation by the US SEC "will be in hell." "If we don't win the election, those who are under investigation, those who are free now, and those who are not paid attention to in the crypto world, they will be like living in hell," Trump said. Trump discussed what he described as the "incredibly hostile" regulatory approach to the crypto industry under the leadership of Gary Gensler, the current chairman of the SEC. It has been speculated that Trump's public declaration of support for cryptocurrencies and his promise to bring friendlier regulation to the industry may have persuaded the Biden administration to cool down on crypto enforcement. Trump himself also thinks this makes sense, "Frankly speaking, since they heard that I was involved, they have treated industry participants much better, and maybe they think this is a way to get votes." (Decrypt)
Market News: Crypto VC Dragonfly is seeking to raise $500 million for a new fund
Odaily Planet Daily News: According to people familiar with the matter, crypto venture capital firm Dragonfly Capital is seeking to raise $500 million for its fourth fund, which will invest in early-stage projects. It is reported that it has successfully raised $250 million and plans to complete financing in the first quarter of next year. (Bloomberg)
EigenLayer has opened the second season airdrop application
Odaily Planet Daily News: The Eigen Foundation announced in a post on X that it has opened applications for the second season airdrop, and the application window will last until March 16, 2025.
Industry News
Yesterday, the U.S. Bitcoin spot ETF had a net inflow of $12.87 million, marking three consecutive trading days of net inflows
Odaily Planet Daily reported that according to Trader T monitoring, the US Bitcoin spot ETF had a net inflow of US$12.87 million yesterday, marking three consecutive trading days of net inflow.
Yesterday, the U.S. Ethereum spot ETF had a net outflow of $9.51 million
Odaily Planet Daily reported that according to Trader T monitoring, the US Ethereum spot ETF had a net outflow of US$9.51 million yesterday, of which BlackRock ETHA had a net inflow of US$4.16 million.
Coinbase CEO responds to questions about lack of transparency in Bitcoin reserves, denies selling cbBTC to BlackRock
Odaily Planet Daily News Coinbase founder and CEO Brian Armstrong denied claims that the company had sold its wrapped Bitcoin cbBTC to BlackRock and did not maintain 1:1 support. The allegations have caused debate in the crypto community, with some accusing Coinbase of a lack of transparency in its Bitcoin reserves. In a statement to cryptocurrency analyst Tyler Durden published on X, Armstrong explained that the Bitcoin minting and destruction of the BlackRock Spot Bitcoin ETF are transparent and on-chain. Cryptoquant data shared by Durden showed that Coinbase was the largest buyer and seller at market highs and lows. In addition, he hinted that the exchange allowed BlackRock to borrow Bitcoin without providing collateral. Since BlackRock is one of the world's largest Bitcoin holders, the analyst said the two companies may profit by controlling Bitcoin price movements. Armstrong also pointed out that for privacy reasons, Coinbase cannot share the wallet addresses of its institutional clients. Bloomberg ETF analyst Eric Balchunas also denied these doubts, adding that the ETF provided by BlackRock helped stabilize the price of Bitcoin during market fluctuations. Furthermore, Armstrong acknowledged that cbBTC is backed by a centralized custodian, which in this case is Coinbase itself. (CryptoPotato)
MicroStrategy to issue $700 million in convertible senior notes in private placement
Odaily Planet Daily News According to official news, MicroStrategy announced that, based on market conditions and other factors, the company plans to privately issue a total of $700 million in convertible senior notes due in 2028 to qualified institutional buyers in accordance with Section 144A of the Securities Act of 1933 (as amended). MicroStrategy also expects to grant the initial purchasers of the notes the option to purchase up to $105 million in total principal of the notes within 13 days from the date of the first issuance of the notes. The issuance is subject to market and other conditions, and there is no guarantee as to whether, when or under what conditions the issuance will be completed. These notes will be MicroStrategy's unsecured senior debt, with interest payable semi-annually on March 15 and September 15 of each year, starting on March 15, 2025. The notes will mature on September 15, 2028, unless repurchased, redeemed or converted earlier in accordance with their terms.
Cathedra Bitcoin to stop bitcoin mining, follow MicroStrategy strategy
Odaily Planet Daily News Canadian Bitcoin mining company Cathedra Bitcoin is stopping its seven-year mining business and adopting a new strategy: emulating MicroStrategy to buy as much Bitcoin as possible on the open market. In a "Bitcoin Treasury Strategy Memorandum" on September 16, Cathedra explained that under the new plan "all capital allocation decisions" will now maximize the company's Bitcoin reserves on a per-share basis - the "most important" indicator for many major shareholders.
trump.eth was traded at 48.4 WETH
Odaily Planet Daily News According to OpenSea data, the Ethereum domain name trump.eth was traded for 48.4 WETH 12 hours ago, equivalent to approximately US$110,000.
Project News
Insider: World Liberty Financial is led by Witkoff and Eric Trump, Trump is not involved
Odaily Planet Daily News: People familiar with the matter revealed that real estate investor Witkoff and Eric Trump, executive vice president of the Trump Organization, are the two decision makers of the Trump family's crypto project World Liberty Financial. Both companies are new players in the crypto industry. CNBC contacted Eric Trump and Witkoff to ask about their leadership roles in World Liberty Financial, but did not immediately receive a response. A person familiar with the project revealed that Witkoff had little interest in understanding the working mechanism of the platform. The source also said that anyone who wanted to know important details of the platform, including the white paper, was asked to sign a confidentiality agreement. In addition, Donald Trump is not currently involved in the construction of the platform. (CNBC)
World Liberty Financial will provide crypto lending services on the Ethereum chain, and WLFI sales will be regulated by the SEC
Odaily Planet Daily News: The team behind the Trump family's cryptocurrency project World Liberty Financial said the project will provide lending services for cryptocurrencies on the Ethereum blockchain network, which is no different from a large number of existing applications in DeFi. It promises to be more "user-friendly" and accessible than existing high-tech alternatives, and will be based on the non-transferable (meaning non-tradable) WLFI governance token. The World Liberty Financial crypto team, led by Zak Folkman, head of operations, and Chase Herro, head of data and strategy, today released new details about the WLFI token distribution plan and made it clear that the sale of tokens will be regulated by the U.S. SEC. "There is no pre-sale, no venture capital, and no early buy-in," Folkman said in an interview today. "It's like any other DeFi project you can expect to see, and the token distribution that is launched now is very fair. "According to an excerpt from its white paper, the majority of the token supply (62.66%) will be distributed in an upcoming token sale, with a portion of the net proceeds going to the project's multi-signature wallet treasury reserve. The remaining net proceeds will be paid to project founders, teams, and service providers. Approximately 17.33% of the WLFI supply will be used exclusively to incentivize participation in World Liberty governance development, as well as other community growth initiatives. The remaining 20% of the token supply will be used for the project team, advisors, and future employees, and a portion of WLFI will be dedicated to the WLF Foundation, affiliates of the Trump Organization, and the Witkoff Group, which is run by Trump's longtime ally and friend Steve Witkoff, a participant in World Liberty. (Decrypt)
Aleo Announces Token Economics, 34% Allocated to Early Backers
Odaily Planet Daily News: Programmable privacy network Aleo announced its token economics. When the mainnet is launched, there will be 1.5 billion Aleo tokens. After the mainnet is launched, the consensus algorithm will automatically generate tokens to reward provers and stakers. Among them: 34% is allocated to early supporters; 25% is allocated to grants, ecosystem contributors and education; 17% is allocated to employees and project contributors 16% is allocated to the Aleo Foundation and Provable; 8% is allocated to strategic partners. Staking and proof rewards increase the supply of tokens in circulation by about 75% in ten years (from 1.5 billion to more than 2.6 billion). The inflation rate will gradually decrease from 13.5% in the first year to 1.6% in the tenth year.
WalletConnect announces launch of WCT token with an initial supply cap of 1 billion
Odaily Planet Daily News Web3 communication protocol WalletConnect will launch its native token WCT on Optimism. WalletConnect said that registration for the WCT airdrop will open on September 24, and airdrop qualifications are based on the usage of the WalletConnect network. WalletConnect CEO Houlgrave said that the initial supply of WCT tokens is capped at 1 billion, of which 18.5%, or 185 million tokens, will be allocated to the first quarter airdrop. Houlgrave said that the airdrop will cover WalletConnect's end users, as well as wallets, applications, nodes, software development kits and communities that have contributed to the success of WalletConnect. (The Block)
Phantom adds new username feature to transfer crypto assets directly
Odaily Planet Daily News Phantom posted on the X platform that it will add a new username feature, which allows users to create Phantom identities, send cryptocurrencies to other Phantom users, and synchronize accounts across devices. At the same time, Phantom will launch usernames in the next few days based on the time when users join Phantom (OG can get early access), and when users are eligible, they will receive a banner with an official claim link in their wallet. Usernames are an optional feature that allows users to personalize their wallet experience without compromising privacy.
Sui Lianchuang: Reached cooperation with Circle and will soon add support for USDC
Odaily Planet Daily News: Sui co-founder and CEO Evan Chen posted on the X platform that Sui has reached a cooperation with Circle and will soon add support for USDC.
Taiko completes Trailblazers Season 1 snapshot and opens Season 2, offering 6 million TAIKO
Odaily Planet Daily reported that according to official news, Taiko announced that it has completed the snapshot shooting of Trailblazers Season 1, and Season 2 has started, which will last from September 17 to December 16, 2024. 6 million TAIKO tokens will be provided, of which 5 million are for participants and 1 million are for DApp.
LayerZero: Airdrop claims will be closed on September 21, and unclaimed tokens will be allocated to claimed addresses
Odaily Planet Daily reported that the LayerZero Foundation issued a statement on X that the airdrop application will be closed at 9:00 PT time on September 20 (0:00 Beijing time on September 21), and the unclaimed tokens will be distributed proportionally to all eligible addresses that have claimed the airdrop, and the application will be opened later that day.
Eigenpie has opened airdrop amount and IDO share query
Odaily Planet Daily News Ethereum liquidity re-staking protocol Eigenpie announced on X that the Dapp front-end now supports querying airdrop amounts and IDO shares. Earlier news, Eigenpie announced the EGP token economic model, 11% for airdrops.
Wintermute plans to launch prediction market OutcomeMarket next week
Odaily Planet Daily News Wintermute announced that it is using Chaos Labs' Edge Proofs Oracle to develop a new prediction market product OutcomeMarket, which will first launch betting markets for TRUMP and HARRIS tokens (US election themes). Wintermute plans to launch OutcomeMarket on multiple networks next week, including the Ethereum mainnet, Arbitrum, and Base. (TheBlock)
Regulatory trends
Fox reporter: All SEC members plan to testify before the U.S. House Financial Services Committee next week, the first time since 2019
Odaily Planet Daily reported that Fox Business reporter Eleanor Terrett disclosed on X that all five members of the US SEC are preparing to testify before the US House Financial Services Committee next Tuesday. This will be the first time since 2019 that the entire SEC, not just the chairman, will testify together. Gary Gensler himself will testify alone in the Senate next Wednesday.
U.S. CFTC Chairman warns of election gambling risks, says he is closely monitoring overseas prediction markets
Odaily Planet Daily reported that Rostin Behnam, chairman of the U.S. CFTC, said the agency will continue to prove that Kalshi's political prediction election contracts are illegal and warned of possible negative impacts. Behnam said the agency also plans to keep a close eye on offshore prediction markets. Judge Jia M. Cobb of the U.S. District Court for the District of Columbia ruled last week that the CFTC's move to prevent the prediction market Kalshi from listing contracts related to the U.S. election was an overreach. The CFTC quickly appealed the ruling and warned of the risks associated with election gambling. Behnam said at the Georgetown University Financial Market Quality Conference on Tuesday that the appellate court will decide on Thursday whether to keep the contracts. "We believe this situation is illegal," Behnam said. "We will continue to advance the lawsuit in this way." He also said that giving the CFTC a role in overseeing election contracts could have negative effects. "I just don't think Congress or the public wants a financial federal regulator to oversee elections." (The Block)
Investment and Financing
Solana Early Investor Nick Chirls Leads Asylum Ventures to Launch $55 Million Fund
Odaily Planet Daily News: Venture capital firm Asylum Ventures recently launched a new fund of US$55 million, mainly investing in start-up companies, and plans to invest US$1-2 million in Pre-Seed and seed round companies. The plan is led by Notation Capital founder Nick Chirls, who is also an early investor in Livepeer, Solana, Near and Bison Trails (now Coinbase Cloud), and Jonathan Why, former head of growth at Aztec Networks. (Cointelegraph)
Decentralized clearing network Yellow Network completes $10 million seed round, led by Ripple co-founder Chris Larsen
Odaily Planet Daily News: Decentralized clearing network Yellow Network has completed a $10 million seed round of financing, led by Ripple co-founder Chris Larsen, with participation from Consensys, GSR, NxGen, MV Global, Gate Labs, ZBS Capital, Moonrock Capital, Math, Cobo, NOIA Capital and LD Capital. (Cointelegraph)
Fermah completes $5.2 million seed round of financing, led by Lemniscap and others
Odaily Planet Daily News: Fermah, a developer of the universal proof generation layer, has completed a $5.2 million seed round of financing, led by CSX and Lemniscap under a16z, with participation from Bankless Ventures, Longhash Ventures, P-OPS team, Public Works, ZK Validator, Lambda Class, Daedalus, Zero DAO, Velocity Capital, Daemon Ventures, and angel investors including Balaji Srinivasan and Sandeep Nailwal. (Theblock)
DEX LogX completes $4 million strategic round of financing, with participation from Gate Labs, DWF Labs and others
Odaily Planet Daily News: On-chain perpetual DEX LogX announced the completion of a $4 million strategic round of financing, bringing its total financing to $10.1 million. Hashed Emergent, Cumberland VC, Saison Capital, Gate Labs, DWF Labs, Antler, Coinswitch Ventures, Wagmi Ventures, Kairos Capital and others participated in the investment. LogX will use the new financing to develop into a DeFi super application, providing leveraged prediction markets and exotic perps, while expanding to TON, Solana, Bitcoin, Move and EVM ecosystems. Previously, LogX had completed a $6.1 million seed round of financing, with participation from Coinbase Ventures, Sequoia Capital and others.
Limitless Network Completes $3 Million Pre-Seed Round of Financing, Led by 1coinfirmation
Odaily Planet Daily News: Limitless Network, a prediction market platform built on Base, has completed a $3 million Pre-Seed round of financing, led by 1confirmation. CJ Hetherington, co-founder and CEO of Limitless Labs, said that Paper Ventures, Collider and Public Works participated in the investment. (Coindesk)
Character*Voice
Trump: It is important to establish a legal cryptocurrency framework in the United States
Odaily Planet Daily News Trump said that the cryptocurrency industry is "a very powerful market" and it is important to establish a legal cryptocurrency framework in the United States.
Trump: Cryptocurrency companies should have certain security measures
Odaily Planet Daily News: Former US President Trump said that cryptocurrency companies should have certain security measures. (Jinshi)
Trump: Cryptocurrency industry is "still young and growing"
Odaily Planet Daily News: Trump said in a live broadcast that cryptocurrency "really has a chance to be something special. It's still young and it's growing... I believe it."
Vitalik: Web3 products can fully realize social recovery functions similar to Web2 products
Odaily Planet Daily News: Vitalik Buterin talked about the topic of social recovery at the Web3 Transitions Summit today and said that Web3 products can fully realize social recovery functions similar to Web2 products, but the underlying technology is based on blockchain. Users do not need to know the code behind the product, and the social relationship (data) has been deposited on the chain. With just one simple interaction with friends, the social recovery function can be realized.