1. China’s former vice finance minister calls for strengthening cryptocurrency research, which is crucial to the development of the digital economy
Zhu Guangyao reviewed the development of cryptocurrency. Over the past decade, the United States has always believed that cryptocurrency has great destructive power on international anti-money laundering and international anti-terrorist financing. In addition, the sharp fluctuations in the value of cryptocurrency have a huge impact on the international financial market. However, this year, the US policy has undergone a major evolution. Zhu Guangyao introduced that Trump's campaign platform clearly included cryptocurrency, and he also publicly stated, "We must embrace cryptocurrency, otherwise China will replace us." The US Securities and Exchange Commission has also approved the listing of 11 Bitcoin ETFs in the stock market and futures market. Among emerging market countries and BRICS countries, Russia, South Africa, Brazil, and India have also taken action.
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2. CZ’s first post after release: Binance seems to be doing well without me
Additionally, I will continue to invest in blockchain/decentralized tech, AI, and biotech. I am a long-term investor who cares about impact, not returns. I will also be investing more time and money into philanthropy (and education). I am still writing my book and am probably about 2/3 done. It is a lot more laborious than I expected, but I will keep doing it. It is great that Binance seems to be doing just fine without me, which is every founder’s dream. Stay tuned. See you during the conference.”
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3. Meng Yan: Web3 may establish a new order after Trump takes office
If Trump comes to power and fulfills his promise and replaces the SEC chairman who is crypto-friendly, we may see proposals like "Token Safe Harbor" being implemented in a short time, and a new and healthy industry order will be slowly established, inspiring countless innovative Web3 products. If Kamala Harris comes to power, the SEC will most likely continue to pursue today's policies, which are based on the dogma of the old order, regardless of whether it is replaced. If so, the establishment of the new Web3 order will probably have to grope in the dark for a long time. The "Token Safe Harbor" plan allows crypto projects to enter a three-year safe harbor, raise funds and incentivize through the issuance of tokens, and not be pursued under securities law for the time being.
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4. Tether assisted the U.S. Department of Justice in freezing more than 6 million USDT in a Southeast Asian project
Stablecoin issuer Tether assisted the U.S. Department of Justice in freezing more than 6 million USDT in a Southeast Asian project that defrauded individuals by imitating legitimate platforms. In the past 12 months, Tether assisted U.S. law enforcement in handling multiple cases, including the seizure of nearly 9 million USDT and nearly 5 million USDT to combat the "pig-killing" business.
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5. FTX creditors: Based on current prices, creditors can only receive “10%-25% of the cryptocurrency”
The latest revised bankruptcy documents shared by FTX creditor Sunil Kavuri show that FTX creditors can only get back 10%-25% of their cryptocurrencies. Kavuri explained that creditors will be repaid based on the filing date, when cryptocurrency prices were much lower than current levels. To put this in perspective, the price of Bitcoin was around $16,000 when the legal petition was filed. Kavuri said that the decision to use the filing date price to repay creditors and customers has sparked dissatisfaction among FTX creditors: "Many FTX customers continue to suffer mental distress, panic attacks, divorce, and suicidal thoughts because their life savings were stolen and their property has not been returned."
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6. Hot project dynamics of the week: Celestia OTC token sales triggered community criticism, EIGEN will be listed for trading next Monday, Binance becomes the biggest winner of HMSTR tokens, etc. (0922-0928)
1. Exclusive: Celestia OTC selling price is 3 USD, the market is hot, the community criticizes link
The community generally criticized the Celestia Foundation's OTC coin sales and did not make any necessary transparent disclosures to the community. They believed that they disguised the coin sales as good news for financing, which led to retail investors and the community buying in. The community believes that the foundation or team should disclose the valuation and attribution of similar behaviors in a timely manner and accurately disclose that this is an over-the-counter transaction rather than financing. The price of the TIA OTC token sale is $3, one-third of which will be unlocked on October 31, and the rest will be unlocked linearly in the next year. The market response to the sale was very hot, and many institutions that hoped to obtain a share did not get it or only got a very small share in the end. Earlier, the Celestia Foundation announced the completion of a $100 million financing, led by Bain Capital Crypto, with participation from Syncracy Capital, 1kx, Robot Ventures, Placeholder, etc.
2. Avalanche Foundation launches $40 million “Retro9000” giveback program link
The Avalanche Foundation announced the launch of a $40 million "Retro9000" feedback program on September 26 to support developers in creating layer-1 blockchains and key tools on the Avalanche9000 testnet. As part of Avalanche's recent upgrade, this program aims to simplify the process for developers to build L1 blockchains and promote community support and project testing. Avalanche said the program will guide reward distribution through public leaderboards and community voting to encourage developers to build in an open environment.
3. Celo stablecoin surpasses Tron in number of daily active addresses, linked to African activity
Celo has surpassed Tron in the number of daily active addresses for stablecoin use recently, and the number of stablecoin transfers of different sizes is growing. Artemis analysis believes that the rise of Celo stablecoin use may be related to African activities. The main applications MiniPay and Valora have developed a large number of users in the past year or so. Among them, MiniPay has expanded to Kenya, Ghana and South Africa after its launch in Nigeria. In addition, the adoption of stablecoins in Kenya and South Africa is likely to return to the top ten. Ethereum co-founder Vitalik also congratulated this and said that improving global access to basic payments/finance is a key way for Ethereum to benefit the world.
4. Andre Cronje: Looking for great apps to launch on Sonic, 200 million tokens airdropped link
Andre Cronje tweeted to look for excellent applications to launch on Sonic. The Sonic mainnet will be launched to the public in December 2024. Applications will be able to enjoy up to 90% of the gas fee subsidy returned from user/contract transactions; it claims to be able to achieve a performance of more than 10,000 tps and a confirmation time of about 1 second; it will have a native stablecoin; a secure gateway through Ethereum; subsidies provided by Sonic BOOM; subsidies provided by the Innovator Fund; and 200 million tokens airdropped.
5. Eigen Foundation announced that it will lift EIGEN trading restrictions on September 30, 2024 link
Eigen Foundation announced that it will lift the EIGEN trading restrictions on September 30, 2024. According to @tmel0211, the foundation chose to open the tradable function during the "bull-bear awkward period". On the one hand, it may represent the Eigenlayer Foundation's optimism about the subsequent market after the interest rate cut. On the other hand, the entire Restaking ecosystem is waiting for the guidance of "Big Brother". The gradual implementation of AVS infrastructure and other re-staking platforms have also accumulated market expectations for a long time. It's time to step up. There is a 7-day waiting period for canceling the pledge. If you want to transfer on the trading day, you have to act today.
On Saturday, Coinbase announced that it would add EigenLayer (EIGEN) to its coin listing roadmap.
6. Asphere and Babylon announce BTC L2 service link
Asphere and Babylon announced the launch of BTC L2 services. Asphere said that any enterprise or developer can now seamlessly launch their Bitcoin L2 through Asphere's end-to-end customization, engineering and infrastructure, including the technology stack of CometBFT consensus, IBC protocol interoperability, EVM compatibility, Bitcoin timestamp, BTC re-pledge economic security. Neura AI blockchain is the first blockchain to utilize the unique BTC L2 framework supported by Babylon.
7. Ethena announces new product UStb link
Ethena announced the launch of a new product, UStb, which will be fully supported by BlackRock and Securitize, and aims to provide users with a stablecoin option that is significantly different from USDe. UStb will have the same functions as traditional stablecoins and exist as an independent product to provide differentiated risk configuration. Ethena also stated that in a negative funding rate environment, the support structure of USDe can be dynamically adjusted and may be combined with UStb to mitigate risks.
8. Two OpenSea users filed a class action lawsuit, alleging that the NFTs they sold were unregistered securities link
Two OpenSea users filed a class action lawsuit in a federal court in Florida, USA, accusing the NFT trading platform OpenSea of selling unregistered securities. Plaintiffs Anthony Shnayderman and Itai Bronshtein claimed that the NFTs they purchased on OpenSea, including the once high-priced Bored Ape Yacht Club series, were "worthless" due to their "illegal nature." The plaintiffs cited the Wells notice sent by the U.S. SEC, which was disclosed by OpenSea last month, as an argument. They believe that this shows that OpenSea may face legal liability for facilitating unregistered securities transactions. The lawsuit also mentioned the SEC's previous successful enforcement actions against NFT projects such as Stoner Cats 2 and Impact Theory, which the SEC determined to be unregistered securities sales.
9. Onekey Card will gradually stop service from September 30th. link
Onekey Card will stop service on September 30. The specific timeline is as follows: Starting from September 30, 2024, no new registrations and recharges will be accepted; on October 31, 2024, all cards will be automatically deleted by the system, and the balance of the card will be transferred to the user's OneKey Card wallet account, and can be withdrawn to the exchange account or Web3 address at any time; on January 31, 2025, the OneKey Card service will be officially stopped.
10. Hamster Kombat is launched: Binance becomes the biggest winner of HMSTR token link
According to Wu Shuo analyst @defioasis, Hamster Kombat, which claims to have 100 million monthly active users, was finally launched. Unlike DOGS, Binance is the biggest winner in capturing HMSTR fund flows. As of Friday, Binance pre-deposit exceeded 6.2 billion HMSTR, and Binance HMSTR balance reached 18 billion, accounting for 18%, far ahead of other exchanges. The biggest competitor bybit pre-deposit is 3 billion HMSTR, less than 1/2 of Binance. Previously, bybit DOGS pre-deposit was higher than Binance. The HMSTR Balance of each CEX, Binance (18%)> bybit (4.6%)> OKX (4.1%).
The user distribution of TON games has attracted much attention. Afik Rechler analyzed the global Google search volume of the popular game Hamster Kombat, which was just launched, and found that the monthly search volume was 1.5 million, with the rankings being: India 22%, Pakistan 14%, Bangladesh 6%, Russia 6%, Nigeria 5%, and Indonesia 5%.
