Today's news tips:
1. Bloomberg: Former Binance CEO CZ has been released
2. Fantasy sports platform Sorare prosecuted in the UK for providing unlicensed gambling facilities
3. Mango DAO agrees to settle with the US SEC for "selling unregistered securities", destroys MNGO tokens and pays a $700,000 fine
4. Coinbase includes EigenLayer (EIGEN) in its coin listing roadmap
5.Eigen Foundation: EIGEN can be transferred on October 1st
6. Market News: OpenAI's revenue in August reached $300 million, and it is expected to have revenue of about $3.7 billion this year
7. ETH fee income rose to $45 million in a single week, and the correlation between BTC and US stocks reached the highest level in two years
Regulatory News
Fantasy sports platform Sorare prosecuted in UK for providing unlicensed gambling facilities
According to CoinDesk, the Web3-based fantasy sports platform Sorare has been prosecuted in the UK for providing unlicensed gambling facilities. This is the first time that the UK Gambling Commission has taken action against a blockchain platform. Sorare is headquartered in Saint-Mande, France, and operates fantasy games such as football, basketball and baseball, where users purchase and trade cards through NFTs. The company has cooperated with many sports associations such as the Premier League and the Bundesliga. The committee stated that Sorare does not hold a gambling operating license and must appear in Birmingham Magistrates' Court on October 4. Sorare denied the allegations, saying that its platform is not a gambling product.
Bloomberg: Former Binance CEO CZ has been released
According to Bloomberg, Changpeng Zhao (CZ), the former leader and co-founder of Binance, has been released two days earlier than originally planned. A spokesperson for the Federal Bureau of Prisons declined to provide specific information about CZ's release. The U.S. Department of Justice had requested that CZ's sentence be extended to 36 months because they accused CZ of deliberately violating the law to profit for the company and himself. On the other hand, CZ's lawyer said that CZ has taken responsibility and "deeply regrets" his crimes, and asked the court to sentence him to probation.
Mango DAO agrees to settle with the US SEC for "selling unregistered securities", will destroy MNGO tokens and pay a $700,000 fine
According to The block, Mango DAO agreed to settle with the U.S. Securities and Exchange Commission after being accused of illegally selling MNGO tokens. Mango Labs, Mango DAO and Blockworks Foundation agreed to settle the charges and pay a total fine of $700,000. The three companies also agreed to destroy their MNGO tokens. The settlement agreement still needs court approval.
According to the SEC’s complaint, beginning in August 2021, Mango DAO, a purported decentralized autonomous organization (DAO), and the Panamanian entity Blockworks Foundation raised more than $70 million from hundreds of investors around the world, including in the United States, through unregistered offers and sales of MNGO tokens, the purported governance tokens of the Mango Markets platform. Since at least August 2021, Blockworks Foundation and Mango Labs have each operated as unregistered broker-dealers, actively soliciting and recruiting Mango Markets users to trade securities; providing advice and valuations on the merits of securities investments; and helping to facilitate securities trading on the Mango Markets platform by assisting customers in opening accounts and regularly processing customer funds and securities.
Earlier on August 20, Mango DAO began voting on a governance proposal that required a $223,228 fine, the renunciation of MNGO token ownership, and delisting from the exchange. The settlement only involves an investigation by the U.S. Securities and Exchange Commission.
CZ posted "gm" on X platform
CZ posted "gm" on the X platform, perhaps confirming his release from prison in this way. The tweet received 10,000 community responses in just 15 minutes.
Bolivia's virtual asset trading volume more than doubled in the past three months
According to Cryptoslate, according to a report by the Central Bank of Bolivia (BCB), since Bolivia lifted its Bitcoin ban in June, the country's virtual asset trading volume has more than doubled in the past three months. Between July and September, the average monthly transaction volume soared to $15.6 million, compared with $7.6 million in the first half of the year. This substantial increase brought the total transaction volume for the quarter to $46.8 million, exceeding the level of the first six months. The number of virtual asset transactions also increased by 141%, from 932,000 to 1,123,000 in the same period. This growth reflects the increasing acceptance of virtual assets by financial institutions and individual users. Virtual asset trading has surged since the promulgation of Resolution No. 082/2024 on June 25, which allows the use of electronic payment methods to buy and sell virtual assets, with stablecoins accounting for most of the transactions.
Project News
One of Wall Street’s most ambitious blockchain projects, Project Ion, failed to gain widespread adoption and quietly ended late last year.
According to The Information, two years ago, the giant behind the scenes of the US financial market launched "Project Ion", one of Wall Street's most ambitious blockchain projects. The project aims to use blockchain technology to revolutionize the way stock trading settlements are done, including cash delivery and obtaining stock certificates. Well-known companies such as JPMorgan Chase and Robinhood have participated in it, but in the end the project failed to be widely promoted and ended quietly at the end of last year.
Coinbase Adds EigenLayer (EIGEN) to its Listing Roadmap
Apple may withdraw from OpenAI's current round of financing negotiations, Microsoft will invest an additional $1 billion
According to a report by Jinshi citing the Wall Street Journal, people familiar with the matter revealed that Apple recently withdrew from negotiations for OpenAI's current round of financing, which is scheduled to end next week. Microsoft and Nvidia have been negotiating to participate in this round of investment. According to people familiar with the matter, Microsoft is expected to invest about $1 billion, which is an additional investment based on its $13 billion investment.
Eigen Foundation: EIGEN can be transferred on October 1st
The Eigen Foundation stated on the X platform that EIGEN tokens will be transferable at 12:00 (UTC+8) on October 1.
Earlier news, the Eigen Foundation stated on the X platform: "The next major step in the evolution of EIGEN is coming. The transfer restriction of EIGEN tokens is expected to be lifted on September 30, 2024. Please note that if the user's EIGEN is currently staked, there is a 7-day withdrawal period to cancel the staked EIGEN."
Coinbase International will launch FET perpetual contracts on October 3
According to the announcement of Coinbase International Exchange, Coinbase International Exchange and Coinbase Advanced will launch FET perpetual contract (FET-PERP) trading. The FET-PERP market is expected to open at 17:30 (UTC+8) on October 3.
Important data
Bitcoin spot ETF had a net inflow of $494 million yesterday, continuing its net inflow for 7 consecutive days
Ethereum spot ETF had a net inflow of US$58.6487 million yesterday, and the ETF net asset ratio reached 2.3%
Market News: OpenAI's revenue in August reached $300 million, and it is expected to have revenue of about $3.7 billion this year
According to Jinshi, relevant documents show that OpenAI's revenue in August reached $300 million, an increase of 170% from the beginning of 2023. In terms of annual revenue, the company expects it to be about $3.7 billion this year and soar to $11.6 billion next year. But an analysis by a financial professional who has also seen the relevant documents shows that after paying the costs associated with service operations, as well as other expenses such as employee salaries and office rent, the company expects to lose about $5 billion this year. OpenAI will need to continue to raise funds in the coming year as its expenses increase as the number of people using its products increases.
Cumberland-related wallets deposited 11,800 ETH to Coinbase 7 hours ago, about 31.88 million US dollars
According to Lookonchain monitoring, a wallet associated with Cumberland deposited 11,800 ETH ($31.88 million) to Coinbase 7 hours ago. ParaFi Capital withdrew 5,134 ETH ($13.83 million) from Lido and deposited it into Coinbase Prime.
ETH fee revenue rises to $45 million in a single week, BTC's correlation with US stocks reaches highest level in two years
According to Intotheblock weekly data, ETH fee revenue rose sharply this week, reaching $45 million, the highest level since early June 2024. After a week of price increases, both BTC and ETH flowing into exchanges have seen moderate growth, likely due to users taking profits. BTC's correlation with U.S. stocks has reached its highest level in two years.
A certain address lost approximately $32.43 million by signing a phishing signature
According to Scam Sniffer monitoring, an address lost 12,083 spWETH (about 32.43 million US dollars) after signing the "permit" phishing signature.
