Today's news tips:
Taiwan allows professional investors to invest in foreign virtual asset ETFs through sub-entrustment
Hong Kong ZhongAn Bank has been approved to conduct virtual asset transactions
Binance will list EigenLayer (EIGEN) and add a seed tag to it
FTX plans to allocate $230 million to compensate preferred shareholders, and the restructuring plan confirmation hearing will be held on October 7
South Korean crypto exchange Bithumb considers listing on Nasdaq
Ethena proposes to build a spot and perpetual DEX on its network called Ethereal
AI social metaverse project SecondLive completes $12 million in private round of financing
CoinShares: Digital asset investment products saw a net inflow of $1.2 billion last week, the third consecutive week of inflows
Regulatory News
Taiwan allows professional investors to invest in foreign virtual asset ETFs through sub-entrustment
According to Chain News, Taiwan's Financial Supervisory Commission announced that it will allow professional investors to invest in foreign virtual asset ETFs through re-entrustment. Qualified professional investors include: professional institutional investors, high net worth investment legal persons, high asset clients, legal persons or funds that are professional investors, and natural persons that are professional investors. In order to ensure that investors have sufficient investment experience and knowledge, securities firms must establish a comprehensive suitability assessment system when providing virtual asset ETF services, and it must be reviewed and approved by the board of directors. Before a customer purchases a virtual asset ETF for the first time, the securities firm must first assess whether the customer has relevant investment experience and professional knowledge to ensure the customer's investment risk suitability. In addition to professional institutional investors, other investors must sign a risk warning before purchasing a virtual asset ETF for the first time. Before accepting an investor's first purchase of a virtual asset ETF, the securities firm must provide the investor with relevant product information to help the investor fully understand the characteristics and related risks of the virtual asset ETF invested.
Japanese regulator intends to reduce tax on crypto gains from up to 55% to 20%
According to Bloomberg, Japan is beginning to review cryptocurrency regulations, which could lower digital asset tax rates and promote the launch of domestic cryptocurrency ETFs. The Financial Services Agency will assess in the coming months whether the current payment law applies to cryptocurrencies or whether they need to be reclassified as financial instruments. The move could reduce the tax rate on crypto gains from a maximum of 55% to 20%, in line with other assets such as stocks. The crypto industry hopes that this review will relax regulations and promote industry development.
Project News
Binance will list EigenLayer (EIGEN) and add a seed tag to it
According to the official announcement, Binance will launch EigenLayer (EIGEN) at 13:00 (ET on October 1, 2024), and open the following spot trading pairs: EIGEN/BTC, EIGEN/USDT, EIGEN/FDUSD, EIGEN/TRY. EIGEN deposit channel is now open; EIGEN withdrawal is expected to be open at 13:00 (ET on October 2, 2024). Seed tags will be applicable to EIGEN.
Hong Kong ZhongAn Bank has been approved to conduct virtual asset transactions
According to Hong Kong Financial News, a spokesperson for ZA Bank in Hong Kong stated that ZA Bank has obtained approval from the Hong Kong Securities Regulatory Commission to allow the company to add virtual asset trading conditions to its Type 1 license, and the bank will actively prepare for relevant sandbox tests.
FTX plans to allocate $230 million to compensate preferred shareholders, and the restructuring plan confirmation hearing will be held on October 7
According to The Block, under a newly disclosed agreement, FTX debtors will set aside up to $230 million from the proceeds of the government's seizure action to compensate preferred shareholders. Since the agreement was finalized after the deadline for FTX creditors to vote on the claims plan and announced 30 days later, some creditors were surprised and angry. Before the voting deadline on August 16, creditors voted overwhelmingly to approve the FTX reorganization plan, but they were not aware of this clause. Although shareholders are usually compensated last in bankruptcy proceedings, FTX debtors said that compensating preferred shareholders will help avoid high litigation costs and delays associated with the seizure of proceeds. In addition, according to the latest FTX bankruptcy documents, the claims plan has not been approved by the court. The next court hearing to confirm the reorganization plan will be held on October 7, 2024. If the plan is approved, creditors with claims of less than $50,000 may begin to receive compensation by the end of 2024. Parties with larger claims may not receive compensation until the first or second quarter of 2025.
Meta CEO Zuckerberg's net worth exceeds $200 billion, becoming the world's fourth richest person
According to Cailianshe, as the stock price of social media giant Meta hit a record high, its CEO Zuckerberg's net worth exceeded $200 billion, making him the fourth richest person in the world and may surpass Amazon founder Bezos and LVMH Chairman Bernard Arnault at any time. According to the Bloomberg Billionaires Index, Zuckerberg's wealth has increased by a staggering $73.4 billion this year, bringing his total net worth to $201 billion. The world's richest man Musk still tops the list with a net worth of $272 billion, followed by Bezos with a fortune of $211 billion. Arnault's wealth has surged recently, and his total net worth has reached $207 billion.
Sonic Labs: You can start earning about 200 million S airdrop points through Sonic Arcade this week
Sonic Labs (formerly Fantom) announced on the X platform that users can start earning approximately 200 million S airdrop points through Sonic Arcade this week. There is no fee or cross-chain required to participate in this event.
Coinbase report: Bitcoin is expected to perform positively in Q4, driven by US interest rate cuts and Chinese stimulus policies
According to Bitcoin.com, Coinbase Institutional wrote in the "Token2049 Meeting Highlights" report released last Friday: "Due to the US interest rate cuts and China's massive fiscal and monetary stimulus policies, we expect the fourth quarter of 2024 to be positive, which will enhance market liquidity and support Bitcoin's performance." The report focuses on Bitcoin and high-beta crypto assets, and is optimistic about the overall outlook for the market in the coming months. The report also discussed Ethereum's recent difficulties, especially the rise in its transaction fees. The report stated: "On-chain activity is growing, decentralized exchanges (DEX) trading volume has increased, and Ethereum gas prices are higher." However, despite the recent launch of the US spot Ethereum ETF, the token has not benefited as much as Bitcoin. The report describes: "Although many market participants are optimistic about Bitcoin, we have encountered some skeptical people about Ethereum because the token does not seem to benefit from the launch of the US spot Ethereum ETF more than two months ago." However, the report pointed out that Solana and other L1 networks pay more attention to scalability and transaction efficiency, and improvements in decentralized exchanges and blockchain infrastructure bring positive signals to the encryption field.
South Korean crypto exchange Bithumb considers listing on Nasdaq
According to CoinDesk, South Korean cryptocurrency exchange Bithumb is considering listing on the Nasdaq in the United States. Previously, Bithumb planned to list on Kosdaq in South Korea and has selected Samsung Securities as the IPO management company, with the goal of listing in the second half of 2025. Bithumb stated at the shareholders' meeting that the listing location has not yet been determined and can be selected domestically or overseas.
Binance to launch COSUSDT perpetual contract
Binance Futures will launch COSUSDT perpetual contracts at 21:00 (ET) on September 30, 2024, with a maximum leverage of 75x.
Ethena proposes to build a spot and perpetual DEX on its network called Ethereal
According to The Block, the Ethena community is discussing a proposal to integrate a decentralized exchange (DEX) called Ethereal into Ethena's reserve management and provide on-chain support for USDe. According to the proposal, the DEX is built on the upcoming Ethena network. The proposal includes distributing 15% of Ethereal governance tokens to Ethena token holders. Ethereal plans to launch a testnet in the fourth quarter, aiming to support 1 million operations per second and integrate with Ethena's hedging engine. Ethena Labs will release a voting snapshot soon, and the specific date has not yet been announced.
Financing News
Yuanbi Technology Completes US$7.8 Million A1 Round of Financing, with Sequoia China and Others Participating
According to official news, Yuanbi Technology announced the completion of a US$7.8 million A1 round of financing. In this round of financing, Yuanbi Technology received strategic investments from well-known companies in the industry, such as Sequoia China, Hivemind Capital, Aptos Labs, Hash Global, SNZ Capital, Solana Foundation, Anagram and Upward Capital. Yuanbi Technology said that this round of financing will connect the company to the Web2 and Web3 worlds and continue to contribute to the construction of Hong Kong's Web3 ecosystem. According to reports, on July 18, 2024, Yuanbi Technology announced that its subsidiary Yuanbi Innovation Technology Co., Ltd. has been included in the Hong Kong Monetary Authority (HKMA)'s Stablecoin Issuer Sandbox Program. At the same time, Yuanbi Wallet Technology Co., Ltd., another subsidiary of Yuanbi Technology, has obtained a stored value payment facility (SVF) license issued by the HKMA and will officially operate at the end of 2023. This A1 round of financing is another important progress of Yuanbi Technology after its seed round of financing in 2020. Yuanbi Technology has been supported by original shareholders including ZhongAn Digital Asset Group Co., Ltd., HashKey Group, Dragonfly, Bright Venture and Eminent Vision.
AI social metaverse project SecondLive completes $12 million in private round of financing
According to official news, AI&XR social metaverse project SecondLive announced the completion of a $12 million private round of financing, led by Crypto.com, with participation from Spark Digital, Cypher Capital, MetaEstate, TAISU Ventures, NewTribe Capital, BitValue Capital, Titans Ventures, Newave Capital and CSP DAO. This round of financing brings SecondLive's total financing to $15 million, with Binance Labs leading the seed round. Currently, SecondLive has covered eight public chains including BNB Chain, Ethereum and TON, and has continuously iterated on scenarios, roles and social methods through generative AI to promote innovation in space networks.
Important data
Ethereum Foundation sells 100 ETH again via CoWSwap
Spot On Chain monitoring shows that the Ethereum Foundation sold 100 ETH through CoWSwap in exchange for 262,474 DAI. So far, the Foundation has sold a total of 3,766 ETH in 2024, worth about $10.46 million, with an average price of $2,777 per ETH. Among them, 1,250 ETH were sold in September, worth about $3.06 million.
Vitalik's associated wallet deposited 649 ETH into Paxos 20 hours ago
According to Spot On Chain monitoring, Vitalik's associated wallet "0x556" deposited the last 649 ETH (about $1.72 million) held into Paxos about 20 hours ago. It is worth noting that on September 19, wallet "0x556" received 1,300 ETH (US$3.21 million) from wallet "0xd04", and Vitalik Buterin transferred 70,000 ETH to wallet "0xd04" in 2022. In the past 11 days, as the price of ETH has rebounded, the wallet has deposited all 1,300 ETH into Paxos at an average price of US$2,581 (a total of US$3.35 million).
The whale who redeemed 24,000 ETH from Lido sold another 7,000 ETH, equivalent to about $18.29 million
PANews reported on September 30 that according to the monitoring of on-chain analyst @ai_9684xtpa, the whale who redeemed 24,000 pledged ETH from Lido on September 27 sold 7,000 ETH (about 18.29 million US dollars) again two days later, with an estimated profit of 700,000 US dollars. The whale transferred 7,000 ETH to the new address 0x416...81768 16 hours ago, and then recharged all of it into Coinbase six hours ago, and it is likely to be sold.
Hal Finney, an early Bitcoin developer, has transferred 46 BTC to Kraken from his legacy address which has been dormant for 10 years
iChainfo posted on X platform that according to data from search.ichainfo.com, the legacy address of Hal Finney, an early Bitcoin developer, has transferred another 10 Bitcoins to Kraken. Since it "awoke" from a decade-long slumber on September 1, the wallet has transferred a total of 46 BTC to Kraken. Hal Finney was the first person to receive Bitcoin. He died in 2014. Before his death, he said he would keep the private key of the address in a safe.
CoinShares: Digital asset investment products saw a net inflow of $1.2 billion last week, the third consecutive week of inflows
According to the latest weekly data from CoinShares, digital asset investment products saw inflows for the third consecutive week last week, totaling $1.2 billion, which may be a response to continued expectations of dovish monetary policy in the United States and the associated positive price momentum. Total assets under management increased by 6.2% last week. The approval of options for certain US investment products may have boosted market sentiment, although trading volume has not increased accordingly. In fact, trading volume fell slightly month-on-month by 3.1%. Regionally, market sentiment is polarized. The United States and Switzerland attracted inflows of $1.2 billion and $84 million, respectively, with Switzerland's inflows being the highest since mid-2022. In contrast, Germany and Brazil saw outflows of $21 million and $3 million, respectively. Bitcoin attracted $1 billion in inflows, although this also stimulated further inflows of $8.8 million in short Bitcoin investment products. Ethereum broke its five-week downward trend with inflows of $87 million, the first measurable inflow since early August. In contrast, Solana had an outflow of $4.8 million. Sentiment was mixed among altcoins, with Litecoin and XRP seeing inflows of $2 million and $0.8 million, respectively, while BNB and Stacks saw outflows of $1.2 million and $0.9 million, respectively.
Cyvers: Crypto hacker attacks surge to $2.1 billion in the first three quarters of 2024, with CeFi hit hardest
According to Beincrypto, Cyvers said in the report that in the first three quarters of 2024, the losses caused by cryptocurrency hackers reached $2.114 billion, exceeding the total losses for the whole year of 2023. This is a sharp increase of 72% compared with the same period last year. In 2024, CeFi platforms suffered the worst blow, with a 984% increase in cryptocurrency hacker attacks. There were five major incidents in the second quarter of 2024 alone, with losses of $401 million. The most notable was the data breach of the DMM Bitcoin exchange, which caused a loss of $305 million. Turkey's BtcTurk also suffered a loss of $55 million, in addition to other exchanges such as Lykke and FixedFloat. DeFi platform losses decreased by 25% compared with the same period in 2023. Despite this, 62 incidents in the second quarter of 2024 still caused a loss of $171.3 million, of which Ethereum and BNB Chain continued to be the main targets of attacks due to their huge ecosystems.
Data: SUI, OP, IMX and other tokens have been unlocked in large amounts this week, with a total value of nearly $300 million
According to Token Unlocks data, SUI, OP, IMX and other tokens will be unlocked in large amounts next week, with a total value of US$295.7 million. Among them:
Sui (SUI) will unlock approximately 64.19 million tokens at 8:00 am Beijing time on October 1, accounting for 2.40% of the current circulation, with a value of approximately US$107 million;
Optimism (OP) will unlock approximately 31.34 million tokens at 8:00 am Beijing time on September 30, accounting for 2.50% of the current circulation, with a value of approximately US$60 million;
Immutable (IMX) will unlock approximately 32.47 million tokens at 8:00 am Beijing time on October 4, accounting for 2.02% of the current circulation, with a value of approximately US$59 million;
ZetaChain (ZETA) will unlock approximately 53.89 million tokens at 8:00 am Beijing time on October 1, accounting for 13.43% of the current circulation and worth approximately US$39 million;
DYDX (DYDX) will unlock approximately 8.33 million tokens at 8:00 am Beijing time on October 1, accounting for 1.32% of the current circulation and worth approximately US$9 million;
Maverick Protocol (MAV) will unlock approximately 36.4 million tokens at 8:00 am Beijing time on October 1, accounting for 9.56% of the current circulation, worth approximately US$9 million;
Cardano (ADA) will unlock approximately 18.53 million tokens at 8:00 a.m. Beijing time on October 2, accounting for 0.05% of the current circulation, worth approximately US$7.5 million;
Galxe (GAL) will unlock about 2 million tokens at 8:00 am Beijing time on October 1, accounting for 1.57% of the current circulation, with a value of about US$4.9 million;
Manta Network (MANTA) will unlock approximately 1.87 million tokens at 7:59 am Beijing time on October 1, accounting for 0.50% of the current circulation, with a value of approximately US$1.8 million;
Liquity (LQTY) will unlock approximately 18.53 million tokens at 8:00 a.m. Beijing time on October 2, accounting for 0.05% of the current circulation and worth approximately US$7.5 million.
