Headlines
▌Musk deleted the assassination post in seconds, and the White House called it irresponsible
As the Republican presidential candidate Trump was suspected of being assassinated, American billionaire Musk posted on the social platform X, suggesting that no one tried to assassinate Democratic President Biden or Vice President Harris, and he felt strange about it. He later deleted the tweet.
The U.S. Secret Service said they had noticed Musk’s post. The White House called Musk’s post “irresponsible.”
Earlier, it was reported that an X user asked Musk the question: "Why did they want to assassinate Trump?" Musk, who has expressed support for Trump and often comments on the US presidential election, replied: "Also, no one is trying to assassinate Biden/Kamala (Harris's name)." Musk also added a thinking face emoji to the post. The post was intercepted by X users and immediately caused public outrage online. Musk later deleted the post, saying it was just a joke. Musk has more than 197 million followers on X.
▌Market news: US Vice President Harris will deliver a speech in Washington at 12:15 p.m. EST on Wednesday
According to market news, US Vice President Harris will deliver a speech in Washington at 12:15 p.m. EST on Wednesday (0:15 a.m. Beijing time the next day).
Quotes
As of press time, according to Coingecko data:
BTC’s latest transaction price is $60,311.27, with a daily change of +3.4%;
ETH's latest transaction price is 2,339.68, with a daily change of +1.8%;
BNB's latest transaction price is $545.85, with a daily change of +2.1%;
SOL's latest trading price is $131.53, with a daily change of -0.1%;
DOGE’s latest trading price is $0.101, with a daily change of +1.4%;
XPR recently traded at $0.5835, with a daily change of -0.3%.
policy
▌Musk spends money to support Republican candidates, which is expected to have a significant impact on the control of the House of Representatives
Musk's super PAC is spending $2.1 million to support Republican candidates in swing districts across the country, which could help the world's richest man build a group of allies in Congress. The committee's support could be key in determining whether Republicans can retain their majority in the House of Representatives after the November election. A new federal filing details the latest spending, the first major effort by the super PAC, which Musk established earlier this year, to influence an election outside of the presidential race.
▌RBA: Wholesale CBDC will be given priority
Jones, assistant governor of the Reserve Bank of Australia, said that an industry project on wholesale central bank digital currency (CBDC) and tokenized commercial bank deposits will be launched. Committed to a three-year digital currency research project. We will give priority to wholesale central bank digital currency. Wholesale central bank digital currency has greater economic benefits than retail central bank digital currency. The launch of retail central bank digital currency will be decided by the government and must be legislated.
▌US Republican lawmakers wrote to the SEC chairman, urging the agency to clarify how it treats crypto airdrops
U.S. House Financial Services Committee Chairman Patrick McHenry and House Majority Whip Tom Emmer of Minnesota wrote a letter on Tuesday to Securities and Exchange Commission Chairman Gary Gensler, accusing the SEC of “interference in internal affairs” and urging the agency to clarify how it treats cryptocurrency airdrops.
“By prohibiting U.S. persons from participating in airdrops, the SEC prevents cryptocurrency users from fully realizing the benefits of blockchain technology,” Emmer and McHenry wrote.
The two asked Gensler a series of questions, including how the agency plans to differentiate between airdrops and airline miles or credit card points. They said they wanted Gensler to respond by Sept. 30.
Blockchain Applications
▌JPMorgan Chase CEO admits blockchain has value, but remains skeptical of cryptocurrency
JPMorgan Chase CEO Jamie Dimon said at the Financial Markets Quality Conference that the bank could be a "big user" of blockchain technology. Although Dimon has long been skeptical of cryptocurrencies and once called Bitcoin a "pet rock," he acknowledged the value of blockchain as a way to "share data and build trust." JPMorgan Chase created its private network Onyx based on Ethereum in 2020 for wholesale payments, peer-to-peer lending and cross-border payments, and has processed more than $700 billion in transactions to date. Dimon pointed out that although blockchain technology is 12 years old, in his view, it is still slow compared to the progress of artificial intelligence.
▌Moody's: DePIN technology has great potential but faces multiple challenges
Moody's first report on DePIN (decentralized physical infrastructure) points out that the technology helps existing networks expand and innovate, but the vague regulatory environment may hinder its widespread application. The report said that DePIN can improve network reliability and reduce operating costs by combining blockchain with real-world networks such as telecommunications and storage. However, the promotion of technology faces many challenges, including unclear supervision, network security risks and huge infrastructure investment needs. The report also mentioned Helium as a successful case in this field, attracting more than 350,000 users to participate.
▌MoviePass uses Sui network to launch USDC stablecoin payment
Layer1 network Sui announced that it is working with MoviePass to provide users with the ability to pay for the movie subscription platform using Circle's USDC stablecoin. As part of the agreement, the Sui Foundation will also acquire an equity stake in MoviePass, but the terms of the transaction have not yet been disclosed.
▌Open Source Web3 Data Routing Protocol Lumerin Launches New AI Image Generation Function
Lumerin, an open source Web3 data routing protocol, announced that it has added new AI image generation capabilities to the chat interface of decentralized AI network Morpheus through an integration with Prodia, a cloud platform for AI inference solutions.
According to the team: “Morpheus Chat users can now access a variety of AI models to quickly generate AI images at low cost. This news is another example of how the AI industry is using decentralized Web3 solutions to reduce AI computing costs and drive enterprise and consumer adoption.”
Cryptocurrency
▌Former Alameda CEO Caroline Ellison will be sentenced on September 24
Former Alameda Research CEO Caroline Ellison will be sentenced on September 24. In court documents filed on September 17, U.S. prosecutors mentioned that Ellison showed "extraordinary cooperation" in the case against former FTX CEO Sam Bankman-Fried, provided "credible and powerful testimony" to the trial, and confessed her serious misconduct in the collapse of FTX. Although she participated in the wrongdoing, prosecutors attributed the main responsibility to Bankman-Fried. Ellison had previously pleaded guilty to seven counts of fraud and money laundering. Prosecutors recommended a lighter sentence for her, and her lawyer requested that the sentence be served and she be subject to three years of supervised release.
▌Swiss private bank Syz tokenizes artworks through Taurus platform
Swiss private bank Syz recently successfully tokenized a piece of art using the Taurus tokenization platform. The work tokenized this time was not a famous Picasso painting, but "Dreamstime" by Swiss artist Sarah Benslimane. These Ethereum-based security tokens were not sold, but distributed to bank employees, allowing them to obtain ownership of the work.
If employees want to trade these tokens, they can buy and sell them through the Taurus TDX market. Syz Bank manages assets of approximately 23 billion Swiss francs and is exploring the potential of blockchain technology in wealth management through this project. Nicolas Syz, head of Syz Private Bank, said that this project not only allows employees to access art in a new way, but also helps the bank explore the application value of tokenization for future wealth management services.
In addition, other Swiss banks such as Sygnum also tokenized Andy Warhol's "Four Marilyns" in 2022.
▌Bitcoin recorded its biggest intraday gain in more than a month, boosted by the prospect of a rate cut by the Federal Reserve
Bitcoin posted its biggest intraday gain in more than a month on Tuesday as the prospect of a rate cut by the Federal Reserve is expected to boost demand for speculative assets. Bitcoin rose as much as 6.4% to $61,337, its biggest intraday gain since Aug. 8. Smaller cryptocurrencies such as Ethereum, Dogecoin and Solana also rose. Swap market pricing shows that the Federal Reserve will cut interest rates by at least 25 basis points on Wednesday, with a probability of a 50 basis point cut of about 55%. "I think the growing correlation between cryptocurrencies and traditional markets recently" is driving Bitcoin higher, said Shiliang Tang, president of Arbelos Markets. Tang said that MicroStrategy Inc.'s announcement on Monday that it would issue convertible notes to buy more bitcoin also boosted cryptocurrency market sentiment.
Important economic developments
▌If the Fed starts with a standard approach, record-breaking bets on "big money" will face the risk of huge losses
If Fed officials choose to kick off the rate cut with a standard approach, the record bets could leave traders with big losses. Trading activity in October federal funds futures, which investors use to bet on Wednesday's decision, has surged to the highest comparable level since the contract was launched in 1988, according to data compiled by Bloomberg. Most of the new bets are on a 50 basis point rate cut by the Fed. Data shows a surge in related positions this week. Subadra Rajappa, head of U.S. rates strategy at Societe Generale, said this has left the market facing extreme selling pressure as the Fed's rate cuts are smaller and Jerome Powell is delivering a gradual message. "If the Fed cuts by 25 basis points instead of 50 basis points, the market reaction would be much stronger," she said. "The narrative of positioning, optimism, looser financial conditions, and so on may be tested."
▌The probability of the Federal Reserve cutting interest rates by 50 basis points this week is 63%
According to CME's "Fed Watch", the probability of the Fed cutting interest rates by 25 basis points in September is 37.0%, and the probability of cutting interest rates by 50 basis points is 63.0%. The probability of the Fed cutting interest rates by 50 basis points by November is 18.7%, the probability of cutting interest rates by 75 basis points is 50.2%, and the probability of cutting interest rates by 100 basis points is 31.1%.
Golden Encyclopedia
What is the Ethereum Prague-Electra (Pectra) upgrade?
Ethereum’s Pectra upgrade combines two separate upgrades: the Prague upgrade and the Electra upgrade. The Prague upgrade focused on changes to the network’s execution layer, while the Electra upgrade affects the consensus layer. These upgrades are collectively referred to as the “Pectra” upgrade when combined. The Pectra upgrade will follow “Dencun,” a merger of the Deneb and Cancun upgrades in March 2024. Technically, Dencun is an Ethereum hard fork designed to reduce transaction fees for Layer 2 solutions. Pectra is a new milestone on the Ethereum development roadmap and is scheduled to go live in Q1 2025. This timeline allows for the inclusion of additional features to improve the Ethereum user experience (UX).
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness.
