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Important Information:

  • Source: SEC rejects two Solana spot 19b-4 applications submitted by Cboe BZX

  • Upbit adds USDT trading pairs for BRETT and PEPE

  • Former CEO of HTSB Bank in the United States embezzled tens of millions of dollars to participate in a crypto scam, causing the bank to go bankrupt

  • Trump: Harris says she will not participate in the September 4 debate on Fox News

  • The US SEC has discussed the securities attributes of SOL with ETF issuers

  • Trump: If elected, he will consider Musk for a cabinet or advisory role

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

Source: SEC rejects two Solana spot 19b-4 applications submitted by Cboe BZX

According to The Block, the U.S. Securities and Exchange Commission rejected two Solana spot 19b-4 applications submitted by Cboe BZX, according to a person familiar with the matter.

It is reported that 19b-4 documents are filed by exchanges on behalf of issuers. If these documents are published in the Federal Register, the SEC's approval process will begin. Another important document, the S-1 registration statement, is filed by issuers and does not have any deadline.

However, because the SEC rejected the Form 19b-4, they never appeared in the Federal Register and the process for possible approval or rejection has not yet begun.

Upbit adds USDT trading pairs for BRETT and PEPE

According to the official announcement, Upbit has added USDT trading pairs for Brett (BRETT) and Pepe (PEPE).

Former CEO of HTSB Bank in the United States embezzled tens of millions of dollars to participate in a crypto scam, causing the bank to go bankrupt

A Kansas man was sentenced to 293 months in prison for using his former bank CEO position to embezzle tens of millions of dollars through a cryptocurrency scheme, causing the bank to go bankrupt and investors to lose all their equity, according to an announcement from the U.S. Department of Justice.

While serving as CEO of Heartland Tri-State Bank (HTSB) in Elkhart, Kansas, Hanes initiated 11 wire transfers between May and July 2023 to move $47.1 million of Heartland’s funds into cryptocurrency wallets, a cryptocurrency scheme known as “pig-sucking.” The funds were moved to multiple cryptocurrency accounts controlled by unidentified third parties while HTSB was insured by the Federal Deposit Insurance Corporation (FDIC). The FDIC covered the $47.1 million loss. Hanes’ fraud led to the bankruptcy of HTSB and bank investors lost $9 million. A federal judge ordered a separate hearing and final determination of restitution within the next 90 days.

Trump: Harris says she will not participate in the September 4 debate on Fox News

Former US President Trump said on his social platform that Harris had informed the Trump team that she would not participate in the Fox News debate on September 4.

Musk: Willing to work for "D.O.G.E."

Tesla CEO Elon Musk tweeted "I am willing to serve" and posted a picture showing the abbreviation of "Department of Government Efficiency" as "D.O.G.E."

The US SEC has discussed the securities attributes of SOL with ETF issuers

According to The Block, citing people familiar with the matter, before Cboe BZX removed the Solana ETF-related 19b-4 form from its website, the US SEC had held talks with potential Solana ETF issuers and expressed concerns about Solana's potential status as a security.

After discussions, the SEC and Cboe agreed not to file Form 19b-4 with the Federal Register. 19b-4 filings filed by Cboe on behalf of ETF issuers over the weekend are no longer visible on the exchange’s website. They are also not currently in the Federal Register. For an ETF to be approved, Form 19b-4 must first be approved and the S-1 registration statement must become effective.

Currently, VanEck's Solana ETF's S-1 registration statement is still displayed on the SEC's filing system EDGAR. The 21Shares S-1 registration statement document no longer appears in the search results, but the direct link is still valid.

The source said the SEC’s stance was not surprising to the issuer, given that it had previously called Solana a security in multiple court filings. The source said they expect there may be new filings or amendments to the 19b-4 in the future that attempt to prove that Solana is not a security.

While both Bitcoin and Ethereum spot ETFs have cleared regulatory hurdles and begun trading, most market observers had expected the SEC to be more reluctant to approve the new Solana fund.

Trump: If elected, he will consider Musk for a cabinet or advisory role

Former US President Trump said that if he is elected as the next US president, he would consider canceling the $7,500 electric vehicle tax credit; he would consider allowing Musk to serve in a cabinet or advisory role if he is willing.

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

The number of developers is second only to Ethereum, and Base has become a new traffic competition place for DeFi protocols

Growthepie data on August 15 showed that the number of intraday transactions processed by the Ethereum Layer2 ecosystem has exceeded 13 million (specifically approximately 13.15 million), and the daily transaction volume has hit a record high. However, the driving force behind the overall increase in Layer2 ecosystem transaction data is the Base network.

Since late July, the daily transaction volume of the Base network has soared to a peak of more than 4 million transactions. On July 27, the Base network set a record high with 4.432 million daily transactions. In other words, one-third of the transactions in the Layer2 ecosystem now occur on the Base network.

During the same period, Arbitrum had about 1.8 million daily transactions, Op Mainnet had only 470,000, and Ethereum Mainnet had about 1.1 million daily transactions for most of the year. From this point of view, Base has become the most active blockchain network.

This can be confirmed from the data of Basescan, the official block browser of Base. In the past six months, the daily transaction volume on the Base network has surged by 700%.

According to DeFiLlama data, the TVL of the Base network has reached US$6.3 billion, making it the second largest Layer 2 network.

With a net profit of 10 million US dollars, what are Trump’s “cryptocurrency incomes”?

Since Biden withdrew from the election, the US presidential election has shown a new round of public opinion. The Financial Times analyzed that Harris' current digital advertising expenditure has reached ten times that of Trump, mainly focusing on the publicity offensive of technology platforms; in addition, in the conversation between Trump and Musk on the evening of August 12, local time, Trump did not talk about anything related to cryptocurrency, which once discouraged the market. Currently, Polymarket predicts that Harris's chances of being elected are 10% higher than Trump's.

If we say that the most popular topic in the cryptocurrency field in 2024 is the issue of the US election, the related meme coins are flying everywhere, and every meeting of political bigwigs is not left behind, which has once again ignited the prediction market. At the center of this vortex is former US President Trump, who has gone from being a crypto-apathetic politician to a new presidential candidate who now supports Bitcoin. Cryptocurrency has become a new breakthrough point for Trump's campaign this year.

Canaan Technology: Selling mining machines is just making friends, not making money

Canaan Inc. recently released its unaudited financial report for the second quarter of 2024. The financial report shows that the company's overall operating conditions have improved compared with the second quarter of 2023 and the first quarter of 2024, and profitability is moving in a positive direction. However, despite a number of indicators showing that the company is making progress, Canaan still faces significant financial challenges and market pressure.