1
Binance still ranks first in market share, while Bitget ranks fourth with 11% market share
On October 4, according to CCData report data, the volume of derivatives and spot transactions on centralized exchanges both fell by 17% in September.
Binance remains the largest exchange with a market share of 36.59%, but its spot trading fell by nearly 23% from August, bringing its spot market share down to 27%.
OKX ranks second with a market share of 14.1%, Bybit ranks third with a share of 13.57%, and Bitget ranks fourth with a market share of 11%.
2
Matrixport: Ethereum revenue is picking up, ETH may rebound
On October 7, Matrixport tweeted that Ethereum blockchain revenue has fallen sharply since the Dencun upgrade in March.
Historical data shows that ETH prices are closely correlated with revenue fluctuations, and some analysts even divide annual revenue by Ethereum’s market value to calculate yield.
The sharp drop in revenue suggests that ETH may be due for a pullback. However, from August to September, Ethereum revenue has doubled, which suggests that the worst of the decline may be over. If this trend continues, ETH may see a rebound.
3
Robinhood chief legal officer would be a leading contender for SEC chairman if Trump wins
On October 7, Politico reported that a dozen former senior regulators, lobbyists and securities lawyers said that Robinhood Chief Legal Officer Dan Gallagher would become the leading candidate for chairman of the U.S. Securities and Exchange Commission (SEC) if Donald Trump wins the presidency again.
It’s unclear whether Gallagher wants to leave Robinhood. Gallagher said he loves his job and that he’d be “honored to be mentioned in the discussion about who will be the next SEC chairman.” But there’s no doubt that Gallagher has clear objections to the direction of the SEC.
He said that if he had been chairman in past years, there would have been tailored rules in place earlier, as the industry has long sought, to provide “at least a basic registration system path forward” for cryptocurrency exchanges and brokers. Even so, Gallagher believes legislation is still needed.
Gallagher is a former member of the U.S. Securities and Exchange Commission and is known for his affability and political skills.
Other possible candidates circulating on Wall Street for the SEC chairmanship under the Trump administration include former Commodity Futures Trading Commission Chairman Chris Giancarlo, who goes by the online nickname “CryptoDad”;
former SEC general counsel Robert Stebbins, now a partner at the law firm Willkie Farr & Gallagher; and current SEC Commissioner Hester Peirce, who holds the Republican seat on the agency’s five-member commission.
However, the report said that for some Republicans, whether Gallagher would become chairman was always a question of when, not if.
1
US judge approves FTX restructuring plan
On October 8, according to The Block, John Dorsey, a judge of the Delaware Bankruptcy Court, decided to approve FTX's bankruptcy plan at a hearing on Monday and began distributing funds to creditors.
This marks the end of legal proceedings following the cryptocurrency exchange’s collapse two years ago amid allegations of fraud and misconduct.
Under the plan, 98% of creditors will receive at least 118% of the value of their claims in cash.
As previously reported, about 94% of creditors in the category of "Internet Customer Equity Claims," valued at about $6.83 billion, voted in favor of the restructuring plan.
But the plan has been criticized by Sunil Kavuri, a representative of FTX’s largest group of creditors, who said the estate should pay out cryptocurrencies in kind, rather than in dollar value as the exchange plans to do if it files for bankruptcy in 2022.
David Adler, a lawyer representing some creditors, also told the court that creditors would face huge tax bills if they were paid in cash rather than in kind.
2
Vitalik sold 10 billion MOODENG in exchange for 308.69 ETH
On October 7, according to Lookonchain monitoring, vitalik.eth (Vitalik Buterin) once again sold 10 billion MOODENGs for 308.69 ETH (about 762,000 US dollars), and transferred 260.16 ETH (about 642,000 US dollars) to the charity Kanro 45 minutes ago.
vitalik.eth still holds 40 billion MOODENG, worth $8 million.
According to previous news, Vitalik expressed the hope that the Meme Coin project could donate directly to charities, or set up a DAO to allow the community to participate in decision-making. This action is setting an example.
3
Trump returns to the site of the "assassination attempt" to hold a campaign rally, with Elon Musk in the same frame
On October 6, according to CNN, AFP and other media reports, former US President and Republican presidential candidate Trump returned to Butler, Pennsylvania on Saturday (5th) local time and held a "highly anticipated" campaign rally.
The report mentioned that in July this year, Trump was the victim of an "attempted assassination attempt" in the area.
According to CNN, on the same day, American billionaire Elon Musk was invited to attend the above-mentioned campaign rally and went on stage with Trump.
It is reported that Elon Musk also changed his X account profile picture to a personal photo with US election elements, with the US flag as the background, a personal photo as the main body and a black hat with the words "MAKE AMERICA GREAT AGAIN" on it.
As the news came out, Trump-related political MEMEs generally rose, with TRUMP rising 20.43% in 24 hours and BASED rising 328% in 24 hours.
4
Hong Kong Securities and Futures Commission CEO: 11 virtual asset platforms that are deemed to be licensed are expected to be licensed in batches before the end of the year
On October 7, according to Hong Kong 01, in the latest interview, the Chief Executive Officer of the Hong Kong Securities and Futures Commission, Leung Fung-yee, stated that on the premise of maintaining market fairness, the development of the regulatory system for virtual asset trading platforms will be promoted, the tokenization of traditional products will be supported, and the use of blockchain and Web3 basic technologies will be used to promote the establishment of a responsible and secure financial technology ecosystem. "It will take at least next year to complete the entire framework."
In order to lead the transformation of the financial market, Liang Fengyi said that we must embrace financial innovation and promote the development of the regulatory system for virtual asset trading platforms.
The CSRC has issued the third license, and another 11 platforms are considered as applicants for licensing. The first phase of on-site review has been carried out, and requirements have been made for these applicants to make rectifications. The goal is to have new progress before the end of the year, including licensing in batches. Applicants who do not meet the requirements will lose their licensing qualifications, and applicants who meet the requirements will be conditionally licensed.
Regarding cryptocurrency over-the-counter (OTC) services, Liang Fengyi pointed out that the Hong Kong Securities and Futures Commission has sought industry opinions on the formulation of a new licensing system for cryptocurrency over-the-counter services and cryptocurrency custody services, and will also promote the development of a regulatory system for virtual asset trading platforms.
