Today's news tips:
1.Eigen Foundation: EIGEN has been unlocked
2. FTX's restructuring plan has received support from more than 94% of FTX Dotcom's creditors, representing approximately $6.83 billion in claims
3. Powell: The interest rate will be gradually lowered according to the data, and it is expected that there will be two more 25BP cuts this year
4. Cryptocurrency hacking losses in September exceeded $120 million
5. Sun Yuchen transferred 5.37 million EIGEN in the past 10 minutes, selling or making a profit of 22.19 million US dollars
6.World Liberty Financial has now opened whitelist registration, open to qualified investors in the United States and all non-US users
7. BlackRock executive: Ethereum ETF's performance so far is "disappointing" compared to Bitcoin ETF
Regulatory News
Japan's new Prime Minister Shigeru Ishiba believes blockchain and NFT can boost regional economy
According to an official policy document from the office of Japan's new Prime Minister Shigeru Ishiba, Ishiba believes that blockchain and NFTs can help boost the regional economy. "Using blockchain technology, NFTs, etc., we will seek to maximize the value of a large number of simulated local products, such as food and tourism experiences." In addition, Sota, CEO of Web3 infrastructure Startale Labs, revealed that Masaaki Taira, former chairman of the Japanese government's Web3 project, may serve as the Japanese government's digital minister.
Project News
World Liberty Financial now opens whitelist registration for qualified investors in the U.S. and all non-U.S. users
According to official news from World Liberty Financial (WLFI), WLFI has opened whitelist registration, with the goal of leading the next wave of users into the era of financial freedom through an innovative financial platform. The project is said to be supported by Donald Trump, and the whitelist is currently open to qualified investors in the United States and all non-US users. Due to US policy restrictions, the platform is not currently available to ordinary US users, but the WLFI team said it is promoting policy changes to ensure that all US users can participate in the platform in the future and enjoy equal financial opportunities.
Trump also tweeted today to announce his support for the World Liberty Financial (WLFI) project, saying it will help the United States become the center of global cryptocurrency. Trump also called it a historic moment and called on everyone to participate in this innovative financial change.
BlackRock exec: Ethereum ETFâs performance so far is âdisappointingâ compared to Bitcoin ETF
According to Fortune, BlackRock's recently launched Ethereum ETF has seen much lower trading volume and inflows than its Bitcoin ETF, and the company's head of digital assets, Robert Mitchnick, doesn't expect this to change anytime soon. At the Messari Mainnet Conference in New York, Mitchnick admitted that BlackRock's Ethereum exchange-traded fund (ETHA) has so far performed "disappointingly" compared to its Bitcoin ETF. But he urged the audience to compare ETHA to ETFs: "It's very rare for an ETF to reach $1 billion in AUM in seven weeks, as ETHA has. In most cases, it takes years for new ETFs to reach $1 billion."
Head of Base Protocol to lead Coinbase Wallet and join Coinbase executive team
Jesse Pollak, head of the Base protocol, said in a post on the X platform that in addition to leading the Base team, he will also lead Coinbase Wallet and join the Coinbase executive team. Base will continue to adhere to the core values ââof serving everyone, being a bridge rather than an island, decentralization and open source. Coinbase Wallet will continue to play a role in the entire on-chain economy and will begin to reflect other Base values ââin more ways.
FTX Releases Update on Proposed Settlement for Preferred Shareholders, Emphasizing that Preferred Shareholders Are Victims Just Like Creditors
FTX Official disclosed on the X platform that FTX creditors are providing updates on the proposed settlement with preferred shareholders. FTX will return 100% of the assets under its control to creditors under the Chapter 11 plan. The Department of Justice is responsible for controlling the distribution of assets confiscated through criminal cases and has made it clear that preferred shareholders are victims just like creditors under criminal law.
FTX and preferred shareholders have competing claims for forfeiture proceeds. While the DOJ will determine how to reconcile these competing claims, FTX believes the settlement, if accepted by the DOJ, is fair to both parties and avoids a protracted dispute. In this settlement, FTX is asking the DOJ to agree to a centralized distribution process through the FTX Ch. 11 Plan, expediting distributions to creditors and avoiding significant redundant expenses.
10x Research: Speculative traders may have shifted from Bitcoin to Chinese stocks, and Bitcoin's short-term technical indicators may be overbought
10x Research said in its latest report that the crypto market is going through some major shifts. While short-term concerns are evident, the larger trends may soon overshadow them. Last night's market correction may stem from weak Chinese economic data, which indicated the need for additional stimulus. As a result, speculative traders may have shifted from Bitcoin to Chinese stocks for higher beta exposure. There are also concerns about weakness at the beginning of the month. In addition, Bitcoin's short-term technical indicators appear overbought.
Sui Bridge is now live on the mainnet
According to the official blog, Sui Bridge is now live on the mainnet and currently supports ETH and WETH transfers between Sui and Ethereum. Sui Bridge transactions are protected by Sui's own network validators and are protected by the same infrastructure that powers and protects Sui itself.
Eigen Foundation: EIGEN Unlocked
Eigen Foundation announced on the X platform that EIGEN has been unlocked. EIGEN can now be traded, transferred or staked, providing greater flexibility. Developers and communities are able to create decentralized services that utilize staked assets, expanding the potential of the ecosystem.
FTX's restructuring plan has received support from more than 94% of FTX Dotcom's creditors, representing approximately $6.83 billion in claims
According to The block, the reorganization administrator of the bankrupt crypto exchange FTX announced the voting results of its reorganization plan, with more than 94% of FTX Dotcom customers voting in favor. Kroll Restructuring Administration, which is responsible for collecting votes, disclosed in a document that almost all creditors voted "accept". 94.48% of creditors support the reorganization plan, representing claims of approximately US$6.83 billion.
About 89.1% of creditors in the "U.S. Customer Equity Claims" category voted in favor, representing claims of approximately $60.99 million. According to FTX's bankruptcy plan, about 98% of creditors will receive at least 118% of the value of their claims in cash. However, bankruptcy claims are assessed based on the value of the relevant cryptocurrency at the time.
Binance will launch EIGEN 1-75x U-margin perpetual contracts
According to the official announcement, Binance will launch EIGEN 1-75x U-standard perpetual contracts at 14:00 (ET on October 1). In addition, Binance's safe deposits and margin trading will add EIGEN borrowable assets at 15:00 (ET on October 1), as well as EIGEN/USDT, EIGEN/FDUSD full deposit and margin trading pairs. Within one hour after EIGEN is launched on Binance spot, users can exchange EIGEN for BTC, USDT or other tokens supported by the flash exchange platform, and the exchange is free of handling fees.
Coinbase to List EigenLayer (EIGEN)
According to the official Twitter of Coinbase Assets, Coinbase will support the trading of EigenLayer (EIGEN), which is an ERC-20 token based on the Ethereum network. Users should be careful not to send this asset through other networks, otherwise the funds may be lost. Currently, the transfer of this asset is available in some areas of Coinbase and Coinbase Exchange.
Trading in the EIGEN-USD trading pair will be available on or after 9:00 a.m. Pacific Time on October 1, 2024 (0:00 a.m. Beijing Time on October 2, 2024), subject to liquidity conditions being met. Trading will be opened in phases and may be restricted in some jurisdictions.
Financing News
SoftBank Vision Fund has agreed to invest $500 million in OpenAI's latest round of funding
According to The Information, SoftBank Vision Fund has agreed to invest $500 million in OpenAI's latest round of financing. Before this investment, OpenAI was valued at $150 billion. This is SoftBank's first investment in a company led by Sam Altman. The main investor Thrive Capital invested more than $1 billion this time, and other participants include Tiger Global, Coatue Management, and Microsoft.
Important data
Bitcoin spot ETF had a net inflow of $61.2966 million yesterday, continuing its net inflow for 8 consecutive days
Ethereum spot ETF had a net outflow of $822,300 yesterday, and the ETF net asset ratio reached 2.27%
Powell: We will gradually cut interest rates based on data, and we expect two more 25BP cuts this year
Federal Reserve Chairman Jerome Powell still believes that the U.S. economy will achieve a soft landing at the annual meeting of the National Association for Business Economics (NABE) in Nashville. Powell said on Monday that the rate cut process will be further "recalibrated" based on the upcoming economic data. "By appropriately adjusting our policy stance, the labor market can remain resilient in an environment of moderate economic growth and continued decline in inflation toward target," he said. "Overall, the economy is in good shape; we intend to use our tools to maintain this condition. Powell said that if the economy continues on its current trajectory, he expects two more 25 basis point rate cuts this year, and the market has been betting on a more aggressive rate cut cycle.
Ethereum Foundation has sold over $10 million worth of ETH this year
According to Lookonchain, the Ethereum Foundation sold another 100 ETH worth about $263,000. The Ethereum Foundation has sold a total of 3,766 ETH this year, worth about $10.46 million.
Bitcoin rose 7.35% in September, the best performance in history for September
According to Spot On Chain, Bitcoin closed September up 7.35%, its best September performance on record. October is expected to be strong. There is a 69% chance of setting a new all-time high this month, and a 54% chance of Bitcoin reaching $100,000 by the end of the year.
Justin Sun has transferred 5.37 million EIGEN in the past 10 minutes, selling or making a profit of $22.19 million
According to on-chain analyst @ai_9684xtpa, in the past 10 minutes, Sun Yuchen's six addresses have transferred a total of 5.37 million EIGEN, worth $7.78 million. It is currently unclear whether the receiving address belongs to the exchange. If sold at the current price of $4.13, a profit of $22.19 million will be made.
Cryptocurrency hacking losses in September exceed $120 million
According to Cointelegraph, the cumulative losses from crypto hacking attacks in September exceeded $120 million, a 61.7% drop from August, when the crypto ecosystem lost nearly $314 million. Centralized exchanges remain a common target for crypto hackers, and of the two cryptocurrency exchanges that were hacked in September, BingX suffered the highest loss of $44 million, while Indodax lost $21 million.
