Headlines
BTC briefly breaks through 81,000 USDT, continuing to set historical highs.
Odaily Planet Daily News: OKX market data shows that BTC briefly broke through 81,000 USDT, reaching a high of 81,568 USDT, continuing to set a historical record.
MicroStrategy's Bitcoin holdings have seen unrealized gains exceeding $10 billion.
Odaily Planet Daily News: With Bitcoin prices breaking through $79,000, MicroStrategy's Bitcoin holdings have surpassed $10 billion in unrealized gains.
As of September 19, 2024, MicroStrategy holds a total of 252,220 Bitcoins, with a total purchase cost of approximately $9.9 billion and an average cost of about $39,266.
Michael Saylor, the founder of MicroStrategy, hinted on the X platform that he may continue to increase his BTC holdings, stating, 'I feel that the saylortracker website needs more 'green dots'.'
Note: This website tracks the record of MicroStrategy's Bitcoin purchase operations, with green dots indicating BTC purchases.
The SEC has delayed its decision on whether to approve Ethereum spot ETF options.
Odaily Planet Daily News: According to official news, the SEC has delayed its decision on whether to approve Ethereum spot ETF options for further analysis and to gather public opinion, particularly regarding whether the proposed rule changes comply with the requirements of the Securities Exchange Act. The SEC has emphasized concerns about the proposal's potential impact on preventing market manipulation, protecting investors, and ensuring a fair trading system.
Polymarket may be planning a token airdrop, with October platform monthly active users reaching 235,000, a new historical high.
Odaily Planet Daily News: According to related information from platform traders, the Polymarket platform claims that 'future platform trading volumes are expected to decline, while users who reinvest bonuses into other betting activities may be eligible for higher rewards in the future.'
Data from The Block shows that the number of active users on the Polymarket platform in October was 235,300. Additionally, media verification indicates that Polymarket CEO Shayne Coplan stated that Polymarket is not open to U.S. users.
Previously, The Information reported that Polymarket is considering raising $50 million and launching its own token.
Industry News
The American Securities Association calls for the current SEC chairman Gary Gensler to resign immediately.
Odaily Planet Daily News: The American Securities Association (ASA) has called for the immediate resignation of SEC Chairman Gary Gensler. ASA President and CEO Chris Iacovella stated, 'Voters have voted to decide that this country needs a new direction, and Chairman Gensler should respect this voting result and resign immediately. This is the only way for American working families, retirement savers, and small businesses to rebuild trust and confidence in the SEC.' (American Securities)
Foreign media: Cardano founder confirms plans to collaborate with the Trump administration to develop cryptocurrency legislation.
Odaily Planet Daily News: Cardano founder Charles Hoskinson has confirmed plans to collaborate with the Trump-led U.S. government to help formulate cryptocurrency legislation. The goal is to create a clear regulatory framework for the cryptocurrency industry, which has faced uncertainty and regulatory challenges for years.
In a recent speech, Hoskinson announced these plans and stated that developing positive policies regarding cryptocurrency requires support from both the Democratic and Republican parties. He mentioned that his company Input Output Global (IOG) will establish a separate policy department for cryptocurrency regulation. This office will focus on creating a legislative framework incorporating provisions from the (Financial Innovation and Technology Act) (FIT21) and the (Responsible Financial Innovation Act) (RFIA). He added, "I will work with lawmakers and the government to push for a bipartisan bill to be passed." (CoinGape)
FTX sues SkyBridge Capital and its founder to recover investment funds for creditors.
Odaily Planet Daily News: FTX has filed a lawsuit against Anthony Scaramucci and his hedge fund SkyBridge Capital, attempting to recover funds for creditors. This lawsuit is one of 23 filed in Delaware bankruptcy court on Friday. Court documents indicate that the plaintiffs also include digital asset exchange Crypto.com and political groups such as FWD.US, founded by Mark Zuckerberg.
FTX claims that during the cryptocurrency bear market of 2022, founder SBF was "engaged in influence buying all year round and making extravagant and ostentatious 'investments'."
According to documents, one relationship SBF invested significant time and money in is with Scaramucci, as he built a 'financial, political, and social' network.
FTX is now attempting to recover these investments, claiming they "provided almost no benefits" and instead "only supported SBF's position in politics and traditional finance."
The company stated that SBF invested $67 million in various SkyBridge businesses in 2022 as Scaramucci was 'seeking rescue'. According to the documents, assets managed by SkyBridge have fallen from a peak of $9 billion in 2015 to $2.2 billion.
A representative for Scaramucci declined to comment.
In September 2022, SBF and Scaramucci announced that FTX's venture capital department would acquire 30% of SkyBridge. Financial terms were not disclosed at the time. Scaramucci stated that this investment reflects his 'consideration for the next decade of SkyBridge.' (Bloomberg)
Top trader Eugene: Binance is gradually lifting the restrictions on leverage trading position limits.
Odaily Planet Daily News: Top trader Eugene stated that Binance has raised the maximum position limit for various cryptocurrencies (Neiro, Moodeng, GOAT, TIA, etc.), indicating that Binance is opening the door to leverage. In normal times, the risk exposure for holders of newly listed tokens or smaller tokens will be 1 times $3 million, with a maximum of $5 million. The latest announcement shows that the maximum exposure limits for Neiro, Moodeng, and GOAT are $80 million, $20 million, and $20 million, respectively.
"User offers a reward of $2.5 million to help recover funds mistakenly transferred to a contract address of 7,912 ezETH."
Odaily Planet Daily News: In June, the user who 'mistakenly transferred 7,912 ezETH to a contract address' announced a reward on X, promising to provide a 10% reward to those who successfully help recover the funds, amounting to approximately $2.5 million at current prices.
Analysis points out that, as confirmed by Shen Yu, the CoboSafeAccount involved is a logical contract storing risk control logic, which cannot be upgraded or transferred and can only retrieve assets through the Renzo project party's re-minting, indicating that this solution has not worked.
Project News
NEAR AI: Alpha version of the product has been launched.
Odaily Planet Daily News: NEAR AI announced on the X platform that it has launched the Alpha version, including a customized AI smart assistant that connects with other AI agents and services to interact on Web2 and Web3, while the NEAR AI Research Center will support community-built AI research and foundational model creation, aiming to construct a model with 1.4 trillion parameters.
dYdX is set to launch dYdX Unlimited.
Odaily Planet Daily News: According to official news, dYdX will launch dYdX Unlimited this month, including the launch of permissionless markets, MegaVault (which acquires liquidity from dYdX users and acts as a market maker for all dYdX Chain markets), and an Affiliates Program invitation plan. This is one of the most important upgrades in dYdX's history.
It is also stated that a series of other enhancements, including new integrations with popular wallets and third-party services, permissioned keys, instant deposits, and more innovative features, are expected to be launched in the coming months.
Immutable launches pre-approved transaction functionality for seamless blockchain transactions within games.
Odaily Planet Daily News: According to official news, Immutable has announced the launch of the Pre-Approved Transactions feature for seamless blockchain transactions within games.
Currently, pre-approved transactions only work with assets issued by games, ensuring that the environment is controllable and secure. The future roadmap includes expanding these features to support IMX, USDC, and ETH, always prioritizing player safety and asset security.
Farcaster will launch the App Frames feature to optimize social application development and distribution
Odaily Planet Daily News: The decentralized social protocol Farcaster will launch the App Frames feature, aiming to allow developers to develop and distribute social applications in the best way: distributing applications in the feed and hook (i.e., cast operations, exploration) of any Farcaster client; providing social context using identity and allowing authenticated operations; prompting users to perform Farcaster operations such as sending casts or joining channels; and interacting with users' Ethereum wallets using familiar tools (like wagmi).
Insiders: OpenSea V2 may launch a loyalty program and retrospective rewards.
Odaily Planet Daily News: NFT trader john.weth shared information about the beta version of OpenSea V2 on his social platform. Relevant screenshots show that OpenSea V2 will update the UI and launch a loyalty program where users can earn XP rewards. Additionally, the new version will provide retrospective rewards for existing OpenSea users, but the 'method and extent of the rewards are still to be determined.'
pump.fun has accumulated over $170 million in revenue, with a total of over 3.1 million deployed tokens.
Odaily Planet Daily News: Dune data shows that pump.fun has accumulated over $170 million in revenue ($177,958,960), with a total of over 3.1 million deployed tokens.
STEPN's unlocked consultant portion has been transferred to the GMT Foundation address this month.
Odaily Planet Daily News: According to the latest on-chain data monitoring, last night, the unlocked portion for consultants of GMT this month has been transferred to an address suspected to belong to the GMT Foundation. This move may be related to the GMT team's future strategic adjustments and ecological incentive plans, but the specific motives are currently unclear.
Insiders reveal that the GMT team has repurchased all unlocked tokens from investors and consultants, totaling up to 600 million GMT.
Regulatory Trends
Biden and Trump will meet at the White House on the 13th.
Odaily Planet Daily News: The White House issued a statement on the 9th, stating that at the invitation of President Biden, Trump, who won the 2024 presidential election, will meet with Biden at the White House on the 13th at 11 a.m. Eastern Time (midnight next Thursday in Beijing). No further details have been announced. (Jin Ten)
Bloomberg: Law firm partners Farley and Champ are among the candidates to succeed Gensler as SEC chairman.
Odaily Planet Daily News: Sources reveal that Kramer Levin Naftalis & Frankel partner Richard Farley and K&L Gates partner Norm Champ are among the candidates to succeed Gary Gensler as Chairman of the SEC. Other sources mention that Robinhood Markets Inc.'s legal chief Dan Gallagher, current SEC commissioner Mark Uyeda, and former Commodity Futures Trading Commission chairman Heath Tarbert are also being considered. Sources indicate that former SEC commissioners Paul Atkins and Willkie Farr & Gallagher partner Robert Stebbins are also in the running.
Some insiders say that members of President-elect Donald Trump's transition team and other advisors began discussions with potential candidates after the election. Discussions are ongoing, and candidates may not be finalized for several weeks. Regardless of Trump's choice, the next SEC chairman will likely closely scrutinize major rules from the Gensler era that are pending implementation or have not yet gone into effect and seek to reduce regulation of the digital asset industry to comply with securities laws. (Bloomberg)
The Bank of Korea signs CBDC and tokenized deposit pilot agreements with the Financial Services Commission and other institutions.
Odaily Planet Daily News: Recently, the Bank of Korea signed a test agreement for the availability of CBDC and tokenized deposit pilots with the Ministry of Science and Information and Communication Technology (MSIT) and the Financial Services Commission (FSC).
According to reports in September, the Bank of Korea is preparing to conduct tokenized deposit experiments for approximately 100,000 people, having announced formal plans for such experiments a year ago, in conjunction with wholesale central bank digital currency (wCBDC) for interbank settlements.
In June, the MSIT and the Korea Internet and Security Agency (KISA) provided a budget to the Bank of Korea for developing a voucher program using smartphones. The vouchers can be used to purchase welfare, cultural, educational, and other goods and services. Thus, the Bank of Korea developed a digital voucher management platform aimed at resolving complexities related to paper vouchers and the potential for fraud. The vouchers will use Singapore's dedicated funds (PBM) model, which essentially wraps deposit tokens in smart contracts and defines the conditions for token use.
The FSC has approved seven domestic banks as participants in innovative financial services, though the compliance of these banks will be continuously reviewed. These banks include Kookmin Bank, Shinhan Bank, Woori Bank, Hana Bank, Industrial Bank of Korea, Nonghyup Bank, and Busan Bank. Notably, deposit tokens will be protected under the traditional deposit protection system. So far, the Bank of Korea has not disclosed details regarding user recruitment and vouchers. (Ledger Insights)
Norway supports MiCA and is considering CBDC to achieve financial stability.
Odaily Planet Daily News: The Central Bank of Norway has acknowledged the European Union's Crypto Asset Market Regulatory Authority (MiCA), and the country is assessing the possibility of adopting a Central Bank Digital Currency (CBDC).
Kjetil Watne, project director of the Norwegian Bank's CBDC project, stated that Norway, as a member of the European Economic Area (EEA), welcomes the MiCA framework. However, he noted that the bank is still considering 'whether additional regulation is needed to promote financial stability.' The Norwegian Bank 'has not decided' whether to issue a CBDC and is assessing how to 'address regulatory gaps associated with decentralized finance.' (Cointelegraph)
Investment and Financing
Former ParaFi Capital partner launches Inversion Capital, aiming to transform traditional businesses through cryptocurrency.
Odaily Planet Daily News: Former ParaFi Capital partner Santiago Roel Santos announced the launch of a new private equity fund, Inversion Capital, which aims to 'acquire traditional companies that can benefit from transitioning their business models by adopting cryptocurrency mechanisms.'
Santos believes that transforming traditional businesses through cryptocurrency can help them operate better, faster, and cheaper. Some businesses can benefit from adopting cryptocurrency tools to address coordination issues that manifest as 'higher operating costs, capital expenditures, or declining unit economics.' He explained that it doesn't matter whether business owners are reluctant to adopt cryptocurrency, as Inversion Capital will not be investment partners but will directly acquire these businesses.
Santos did not specify how much he plans to raise through the fund nor whether initial targets have been selected. (The Block)
Layer1 blockchain developer Pharos completes $8 million in seed round financing.
Odaily Planet Daily News: Layer1 blockchain developer Pharos has completed $8 million in seed round financing, led by Lightspeed Faction and Hack VC, with SNZ Capital participating as a strategic investor. Other investors include Dispersion Capital, Hash Global, Generative Ventures, MH Ventures, Zion, and Chorus One.
RWA stablecoin protocol Usual completes a new round of financing totaling $1.5 million, with participation from Comfy Capital and others.
Odaily Planet Daily News: RWA stablecoin protocol Usual announced the completion of a new round of financing totaling $1.5 million, with participation from Comfy Capital, early crypto project investor echo, and Breed VC founder Jed Breed, among others. Specific valuation data has not yet been disclosed.
Usual stated that the project plans to launch a token generation event (TGE) to support the construction of a USD0 stablecoin backed by real-world assets. The protocol previously raised $7 million in a strategic round of financing in April this year, with investors including IOSG Ventures and Kraken Ventures. The total financing amount has now reached $8.5 million.
Web3 shopping app Bion completes a new round of strategic financing, with participation from TON Ventures.
Odaily Planet Daily News: Web3 shopping app Bion announced the completion of a new round of strategic financing, with participation from TON Ventures. Specific financing amounts and valuation data have not yet been disclosed. Bion primarily uses blockchain technology to enhance the shopping experience and provide value-added services to consumers. The new funds will be used to expand its Web3 shopping platform that offers cashback rewards and enhance its crypto rewards.
Person * Voice
CZ: As Bitcoin continues to set historical highs, investors should manage risks appropriately.
Odaily Planet Daily News: CZ posted on the X platform stating that as Bitcoin continues to set historical highs, investors need to manage risks appropriately. There will still be many lows (and highs) in the future, and one should ensure they can handle these, control their greed, and not put all their eggs in one basket.
Vitalik wrote about prediction markets: Information finance brings people closer to the truth.
Odaily Planet Daily News: Vitalik released a new article titled 'From Prediction Markets to Information Finance', stating that he has been a close supporter and follower of Polymarket this year, considering prediction markets as one of the most exciting Ethereum applications.
Vitalik believes that Polymarket has a dual nature, serving as both a betting site for participants and a news site for everyone else. As election results gradually unfold, despite many experts and news sources enticing audiences to hear favorable news for Harris, Polymarket directly reveals the truth that Trump's winning probability has reached 95%. Users' real monetary investments can make the market aware of what the truth is closer to.
Additionally, prediction markets can also use finance as a means of coordination incentive mechanisms to provide valuable information to audiences. Information finance addresses the trust issues that actually exist among people. A common concern in this era is a lack of knowledge about whom to trust in political, scientific, and business environments. Information finance applications can help be part of the solution. He anticipates that a technology that will drive the development of information finance in the next decade is artificial intelligence.
BlockTower founder: We are currently in the early stage of the later part of this bull market, with recent buyers mostly institutions rather than retail.
Odaily Planet Daily News: Ari Paul, founder and CIO of digital asset investment firm BlockTower, stated on the X platform that we are currently in the early stage of the later part of an overall bull market (approximately 70% or 66% progress). Recent buyers are preparing for a rise in 6-12 months, mostly 'institutional' rather than retail speculation.
He personally expects the market to produce a relatively 'gradual' rebound at this stage, potentially seeing BTC at $90,000 or even $125,000. Retail participation will gradually increase, leading to rising leverage and volatility. Currently, buying the right assets and holding them over the next few months may be the wisest strategy. In the later stages of a bull market, more aggressive trading will yield returns.
1confirmation founder: Polymarket is the largest investment to date, with a projected growth potential of 100 times for prediction markets.
Odaily Planet Daily News: Nick Tomaino, founder of cryptocurrency investment firm 1confirmation, stated on the X platform that 'the largest investment to date is in Polymarket. We invested in this project during its early stages in 2020 and have continued to support this company up to today. Currently, Polymarket's trading volume has exceeded $2.6 billion and has become the best real-time prediction tool for the U.S. presidential election. You can watch the founder and CEO Shayne Coplan discuss how Polymarket has consistently released election news ahead of other media on CNBC. Some analysts suggest that trading volumes will decline after the election, but I believe that prediction markets will grow 100 times over the next few years, with Polymarket leading this trend. Geopolitical, cultural, health, and sports markets will play significant roles in prediction markets, and the growth of political markets will continue.'
